Banking has been a surprise in terms of market expectations: Sethuram Iyer

Sethuram Iyer, Chief Investment Officer, Daiwa Asset Management, talks to ET Now on banking stocks.

Banking, have you looked at the numbers that have come out?

The biggest surprise has been the asset quality. If you look at the private sector banking pack, across the board asset quality issues have not cropped up at all and this was definitely expected. In terms of the public sector pack, yes, more serious asset quality issues were there but then so far of the numbers, which have come up.

We have not seen any major setbacks in terms of increase in NPAs, so generally banking has been a surprise in terms of market expectations.