In Mumbai trading, Kotak Mahindra Bank Ltd KTKM.NS, State Bank of India SBI.NS and Axis Bank Ltd AXBK.NS were the top three boosts to the Nifty 50, gaining between 2.1% and 2.8%. India's central bank said the economy had not moderated as much as it did during the first wave of the coronavirus, but uncertainties might act as a short-term deterrent and private demand would be key to revival. Global equities have received a boost after U.S. Federal Reserve officials earlier this week reaffirmed a dovish monetary policy stance, reassuring investors worried about the prospect of rising inflation.