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PSU bank stocks plunge up to 7% after govt denies FDI limit hike. Indian Bank, PNB fall most

PSU bank stocks fell sharply on Wednesday after the government denied any move to hike FDI limits in public sector banks. The Nifty PSU Bank index fell over 3%, with Indian Bank and PNB declining the most as rupee weakness, profit-taking, and reduced rate-cut expectations intensified selling pressure across the sector.