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BSE Sensex and Nifty were off to a strong start led by gains in banks after Reserve Bank of India eased financing norms for infrastructure and affordable housing.

The Reserve Bank of India on Tuesday said it will allow long-term bonds raised by banks for infrastructure lending to be exempted from mandatory reserve requirements, in line with the government's announcement in the budget last week. The bonds issued by banks, to be aimed at the infrastructure sector including affordable housing, will be required to have a minimum tenure of seven years.

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