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Indian Bank Shares Tumble as Cash Revamp Seen Threatening Profit

  • State Bank of India falls as much as 4.8 percent on Monday
  • Bank of Baroda also declines -- by as much as 9.9 percent

Shares of India’s big state-owned banks fell on the risk that the government’s recall of high-value currency notes will dent their profits.

State Bank of India, the nation’s biggest by assets, declined by as much as 4.8 percent on Monday, its biggest intraday fall since Nov. 9 and the worst performance on the benchmark S&P BSE Sensex. Bank of Baroda lost as much as 9.9 percent.