The banking stocks were trading lower on the BSE, after the Reserve Bank of India (RBI) tightened norms for personal loans and credit cards to check the unbridled growth in this segment.

RBL Bank is currently trading at Rs. 237.55, down by 17.05 points or 6.70 % from its previous closing of Rs. 254.60 on the BSE.

State Bank of India is currently trading at Rs. 563.65, down by 20.75 points or 3.55 % from its previous closing of Rs. 584.40 on the BSE.

Axis Bank is currently trading at Rs. 994.45, down by 31.15 points or 3.04% from its previous closing of Rs. 1025.60 on the BSE.

Bandhan Bank is currently trading at Rs. 217.05, down by 5.10 points or 2.30% from its previous closing of Rs. 222.15 on the BSE.

The Reserve Bank of India has said in a circular that it tightened norms for unsecured personal loans for banks and non-banking financial companies (NBFCs). The revised norms wherein risk weights have been increased by 25 percentage points will not be applicable on certain consumer loans, including housing, education, and vehicle loans. Besides, the norms will not be applicable on loans secured by gold and gold jewellery. These loans will continue to attract 100 per cent risk weight.