SBI chief suggests steps to avoid sell off in bank stocks

Banking stocks took the maximum beating in the past two trading sessions. State Bank of India Chairman Pratip Chaudhuri suggested few steps that the finance ministry must take to avoid such sell offs.

“Black Friday was more for the stock market, banking business has not been affected and I think it was a result of some wild rumours that were going on so that is what it led to. It is excessive speculation and I told the FM that they could consider steps like banning short selling,” he said. 
“Now is the time to encourage exports and from the financial side the single most important step would be to adjust the refinance and re-open the dollar window,” he added.