The Economic Times

Explained: Why SBI, Canara Bank, other PSU bank stocks tumbled up to 9% after Union Budget 2026

PSU bank stocks tumbled in the special Sunday session after the Budgets record borrowing plan sparked fears of rising bond yields and mark-to-market losses. SBI, Bank of Baroda, Canara Bank, Indian Bank and Bank of India led the decline, dragging the Nifty PSU Bank index sharply lower as investors priced in treasury risks.