HDFC extended losses in noon trade, falling more than 2 percent followed by ICICI Bank (down 1.2 percent), Infosys (down 0.65 percent) and Wipro (down 1.7 percent).
The problem according to Saurabh Mukherjea of Ambit Capital is that two developmentsâ"negative interest rates and negative inflation-- are striking at the heart of the premise that the entire banking system is built on
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