Read more about Banking services hit in Punjab, Haryana as unions protest privatisation on Business Standard. Employees under the aegis of the United Forum of Bank Unions went on a two-day countrywide strike
Read more about Bank credit grows by 6.36% while deposits jump by 11.41%: RBI data on Business Standard. The numbers are up to the fortnight ended January 15
Two-day bank strike from THIS date: Services of SBI, other PSU banks may be hit - Banking unions have come together against the government's move to privatise PSU's as they feel that the move will lead to job losses.
So depending on the risk appetite, one can select the banking stocks one wants to invest in. The next least 6 to 12 months will be very positive for PSU banks and most PSU banks will outperform their private sector peer group by a huge margin. Beyond one year, one cannot say but the next 6-12 months look very exciting as their credit costs drop significantly and they benefit from resolutions and write-back of provisions. Pre-provisioning operating profits will remain strong. From June quarter onwards, we could see a fantastic spike in earnings for PSU banks and that will excite a lot of investors and traders and the stock prices would also keep moving up.
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