Regulatory steps will improve banking sector: BP Singh

In a chat with ET Now,BP Singh, Executive Director & CIO-Equities, Pramerica Mutual Fund, shares his views on banking sector.

ET Now: Do you think there are good prospects for the PSU banking pack in the days to come?

BP Singh: Besides the steps which have been taken by RBI to ensure that these banks do well there is also a news that finance minister is considering to have a bank where they can transfer the NPAs. It will ensure the both PSU and private sector banks to become clean banks. It is needed because a huge amount of infrastructure funding is being looked at this point in time. These are the kind of steps which will have a substantial positive impact on this particular sector. So, all the valuation concerns which we have will immediately get corrected if such regulatory or the governmental steps are taken in near future.