Seven of India's largest state-owned banks saw market value drops, amid economic challenges.

Seven of India's twelve largest state-owned banks saw their market capitalization decline during the January-March 2025 quarter, with Indian Overseas Bank and Central Bank of India experiencing significant drops of 24.7% and 19.8%, respectively. HDFC Bank, however, increased its market cap by 3.2%. The decline is linked to a slump in benchmark indices, weak corporate earnings, foreign fund outflows, and a tariff war.