Banking Stocks Surge: How New RBI Deposit Measures Drove a 544-Point Bank Nifty Gain

The Bank Nifty index rose by 544.15 points, or 1.01%, to reach 54,607.90 on Tuesday, June 9, 2026. This rally was fueled by the Reserve Bank of India’s new measures to mobilize cheaper overseas deposits, boosting investor confidence across the financial sector. With 13 out of 14 index constituents closing in the green, market sentiment remains strongly bullish.

The banking index saw significant buying interest today, signaling a return of investor confidence in the financial space. The index opened at 54,265.00 and maintained strong momentum throughout the session, peaking at 54,799.95. This widespread upward trend reflects renewed institutional interest in banking equities.

RBI Measures Boost Liquidity

The positive sentiment is largely attributed to recent RBI initiatives aimed at attracting cheaper foreign currency funds. By easing liquidity norms for banks, these measures are expected to bolster balance sheets and support credit growth. Investors responded by aggressively bidding for both public and private sector bank shares.

Public sector and mid-tier banks led the charge during today’s trading session. Key gainers included IDFC First Bank, Bank of Baroda, and Canara Bank, all of which saw gains between 2.5% and 3%. While HDFC Bank faced minor selling pressure, the collective strength of the other 13 constituents easily offset this, keeping the index firmly in positive territory.

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