Almost all the banks stocks are up on a strong rally. All the top five gainers on  the BSE are currently bank stocks, with Yes Bank leading, up over 16% at Rs.368, followed by Indian Bank at Rs.79.65 (up 9%) and ICICI Bank, Kotak Mahindra Bank and Axis Bank.

Bank stocks are leading the BSE Sensex on this supersonic rise to over 550 points. This is purely on the back of the RBI Credit policy scheduled for tomorrow at  11. Expectations are now high that RBI might go for some major roll backs tomorrow given the fact that Bernanke has deferred tapering for now.