Indian banks' market capitalisation rises in Q3 on festive demand, tax cuts: S&P Global

Indian banks experienced a market capitalization boost in the October-December quarter. Festive season demand and reduced GST rates fueled this growth. Smaller private banks led the gains, outperforming public sector lenders. The Nifty Bank index also saw a significant rise. Systemic credit growth is improving, with expectations of further acceleration in the next fiscal year.