Post the announcement, the Bank Nifty climbed 1.3% to hit a record high of 56,515, led by strong gains in key banking stocks. IDFC First Bank rallied 5%, Axis Bank gained 2.6%, Kotak Mahindra Bank rose 1.8%, and HDFC Bank added 1.5%. Shares of PNB, Bank of Baroda, and IndusInd Bank were also up over 1% each.