Banks have started knocking Reserve Bank of India for policy breather to avoid depreciation losses as bond yields shot up following regulatory measures tosqueeze liquidity. Indian Banks' Association, the umbrellaforum for banks, has initiated dialogue with the banking regulator on behalf of its members.
The lenders are facing mark to market losses in their bond investments as yields rose sharply and price fell, raising the spectre of poor second quarterly earnings. In the first quarter, several banks rode on treasury gains to report profit growth despite rising bad loans, muted credit growth and falling margins .
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