TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - Benchmark Index Nifty completed its weekly target of 8288 and made high of 8307. Nifty

showed profit booking on last day of the week and was down by 0.36% on last Friday. On Friday, Nifty Spot

opened at 8283 and made a high of 8306, achieving its target of 8288. Nifty then corrected for the day to make a

low of 8233 and finally closed at 8247.85. Nifty has risen by 173 points from a low of 8133 to 8306 in the month

of January. This rally was however not participated by the FIIs who have sold 1903 cr since January 2. The

Equity benchmark Nifty has opened in a flat note on Monday trading Session up by 16 points at 8259 level.

Major event eyed for the month of January is US President elect, Donald Trump's, joining the President's office is

due on 20th Jan. The global Indices have been showing strength on speculations around Trump's policies. The

Nifty Spot opened at 8259 and made a high of 8263 on Tuesday trading Session. Nifty then remained under

pressure for the day to make a low of 8228 and finally closed at 8236. Nifty Closed Almost Flat After Trading

Most Of The Days In Negative Tone; But Closed The Week More Than 2% Higher Amid Hopes Of Better Q3

Earnings & Poll Prospect Of BJP In UP Despite Demonetization Woes And Concerns Of FII/Capital Market

Taxation Issues on Friday trading Session. As of now The Significance levels of Nifty is 8460-8520 is up side

side and 8360-8290 is Down side.

BANK NIFTY : - Bank Nifty rallied 3.50% this week made high of 18966 and closed at 18912. All three high

weighted banks SBI , HDFC Bank and ICICI bank rallied 2.03%, 3.25% and 3.83% respectively. Bank Nifty is

the major mover of Indian Stock Market and would breach levels of 19900 soon. Bank Nifty would outperform

other sectors and traders should continue to hold long positions in Bank Nifty. Bank Nifty needs to breach levels

of 19500 on closing basis for the next bull run. Bank Nifty has also see a doji pattern on Friday trading Session

that is a sign of reversal. So If Bank Nifty breaches levels of 18800 on the downside than we would see some

downtrend for next week trading Session. Banking sector in terms of profits though Current account and Saving

account targets were met and huge deposits were seen but loan disbursement was not in that ratio that adds

profitability to the banks. But next quarter is expected to reap the benefits. Overall, trade is to buy at dips for now.

Technically, Banking sector is in positive momentum and if closed above 19200 levels, it can see levels of

19500-19800 in upcoming days. The support for Bank Nifty is at 18734-18610-18533 and the resistance to the up

move is at 19110-19376-19440 levels for next trading Week.

Monday, 16 January 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8513 8435 8396 8357 8279

WEEKLY R2 R1 PP S1 S2

8514 8436 8397 8358 8280

MONTHLY R2 R1 PP S1 S2

9273 8643 8328 8013 7383

BANK NIFTY

DAILY R2 R1 PP S1 S2

19337 19079 18950 18821 18563

WEEKLY R2 R1 PP S1 S2

19323 19065 18936 18807 18549

MONTHLY R2 R1 PP S1 S2

22095 19769 18606 17443 15117

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8436 9013 9138 8756

BANK NIFTY 20433 19079 18226 17764

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8027 8256 8562

BANK NIFTY 20176 20379 20516

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given Chart of Nifty We can see that Nifty index has been trading in

the Range of 8200-8420 Range in Whole Week. . We also see that the index is building a Kind of’

Doji Pattern. The Doji Pattern had made in the levels of 8380 after which it created a high of 8480. If

technical analysis is followed, Nifty should complete the Rally till and touch the levels which is

around 8490. The Bollinger Band is Also giving Signal that if it Sustain the Level of 8400 could lead

the Nifty toward the 8490 level. The crucial levels for Nifty is 8380-8350 is down side and

8420-8450 is Up side.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily Chart of BANK NIFTY has Applied the Bollinger Band

along with MACD. Both are the Indicators trading in Positive Territory and it is clearly visible is

banking Index is able to Sustain the level of 189800 can lead the index toward the 19250 in near

term. From this level we are Expecting the If Bank Nifty is able to Sustain the Level of 18950 may go

Further Up side to the level of 19120-19280 Level for Next week or sustaining below 18900 zone,

Bank Nifty may further fall towards 18700-18550 & 18200-18120 area for next week trading

Session. The Significance levels for BANK NIFTY is 18998-18680 Down side and 19254-19425 is

Up Side.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 SACC EQ 1358 1352 1348 1336 13286

ADANI PORTS EQ 302 298 289 284 278

AMBUJACEM EQ 218 216 214 212 208

ASIAN PAINT EQ 950 944 935 929 920

AXISBANK EQ 487 482 475 470 463

BAJAJ-AUTO EQ 2720 2708 2698 2688 2664

BANKBARODA EQ 160 158 156 154 152

BPCL EQ 692 686 672 660 656

BHEL EQ 130 129 127 126 125

BHARTIARTL EQ 338 330 325 318 314

BOSCH LTD EQ 21417 21252 21136 20971 20855

BHARTI INFRATEL EQ 368 356 354 352 348

CIPLA EQ 601 594 586 579 571

COALINDIA EQ 323 319 314 310 305

CAIRN INDIA LTD EQ 268 266 264 262 260

DRREDDY EQ 3032 2998 2978 2965 2940

GAIL EQ 458 453 451 446 444

GRASIM EQ 880 878 865 852 847

HCLTECH EQ 858 848 840 832 818

HDFC EQ 1258 1247 1234 1221 1217

HDFCBANK EQ 1232 1224 1204 1198 1188

HEROMOTOCO EQ 3077 3054 3041 3018 3005

HINDALCO EQ 188 172 168 162 156

HINDUNILVR EQ 860 848 836 828 816

ICICIBANK EQ 276 272 268 264 260

ITC EQ 256 252 246 242 238

INDUSIND BANK EQ 1236 1228 1220 1208 1200

INFY EQ 972 967 959 957 946

IDEA CELLULAR EQ 72 70 68 66 64

KOTAKBANK EQ 729 728 725 724 721

LT EQ 1458 1449 1440 1431 1422

M&M EQ 1233 1226 1218 1211 1203

MRF EQ 54546 53937 53248 52639 51950

MARUTI SUZUKI EQ 5748 5709 5684 5646 5622

ONGC EQ 202 200 200 198 198

NTPC EQ 176 174 172 170 168

RCOM EQ 33 32 31 30 29

RELCAPITAL EQ 457 454 450 447 278

RELIANCE EQ 1099 1089 1082 1072 208

RELINFRA EQ 515 510 506 501 920

RPOWER EQ 46 45 44 44 463

SBIN EQ 257 255 253 251 2664

SSLT( VEDL) EQ 244 243 239 238 152

SUNPHARMA EQ 659 653 649 643 656

TATA MOTORSDVR EQ 330 327 325 322 125

TCS EQ 2293 2276 2252 2235 314

TATAMOTORS EQ 528 526 521 519 20855

TATAPOWER EQ 80 79 79 78 348

TATASTEEL EQ 468 462 453 447 571

UNIONBANK EQ 142 139 138 135 305

YES BANK LIMITED EQ 1373 1349 1325 1314 260

ZEEL EQ 490 486 482 478 2940

TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREVCLOSE

CMP % CHANGE

1 OIL INDIA LTD 478.25 343.30 -28.22

2 SE POWER 22.60 18.15 -19.69

3 UJAAS ENERGY 48.35 44.20 -8.58

4 RCOM 33.10 31.15 -5.89

5 IDEA 74.10 70 -5.53

6 RPG LIFE SCIENC 521.25 493.55 -5.31

7 TEXMO PIPES 23.35 22.15 -5.14

8 GE POWER 551.80 525 -4.86

9 BERGER PAINTS 225.55 215 -4.68

10 JUBILANT LIFE 696.50 665.05 -4.52

11 CADILA HELTH 361.60 348.10 -3.73

12 CENTURY TEXTIL 838.05 807.40 -3.66

13 JUST DIAL 386.30 373.20 -3.39

14 SE INVETMENT 196.10 190 -3.11

15 DR REDDY LABS 3060.20 2972.90 -2.85

SR.NO SCRIPT NAME PREVCLOSE

CMP % CHANGE

1 SWAN ENERGY 158 173.35 +9.72

2 MASTEK LTD. 422 457.90 +8.51

3 RAMCO SYSTEM 186.55 198.65 +6.49

4 MPHASIS LTD. 1256.25 1326 +5.56

5 KRBL LIMITED 284.70 300.50 +5.55

6 P C JEWWELLER 452.75 477.05 +5.37

7 MIND TREE LTD. 163.05 171.75 +5.37

8 FORTIS HEALTH 1159.25 1220 +5.24

9 BIOCON 300 314.95 +4.98

10 EID PARRY 1380.65 1443.10 +4.52

11 TVS MOTOR LTD. 500.15 522 +4.37

12 TCS 465.10 484.55 +4.18

13L & T INFOTECH 1195.20 1239.10

+3.67

14AXIS BANK LTD. 76.40 79.10 +3.53

15RELIANCE 152.80 157.90

+3.35

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )

NSE FUTURE

NSE FUTURE : SELL TCS FUTURE BELOW 2250 TGT 2150 SL 2300

NSE FUTURE : BUY AXISBANK FUTURE ABOVE 470 TGT 480 SL 465

NSE FUTURE : SELL MRF FUTURE BELOW 52900 TGT 51900 SL 53400

NSE CASH

NSE CASH : BUY OUDHSUG NSE CASH ABOVE 140 TGT 151 SL 136.

NSE CASH : BUY INDIAGLYCO NSE CASH ABOVE 169 TGT 183 SL 163..

NSE CASH : BUY RUSHIL NSE CASH ABOVE 671 TGT 721 SL 651.

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

International rating agency Moody's has maintained positive outlook on India and

said beyond the short-term negative impact on growth, demonetisation has the potential to raise

government revenues and provide some fiscal space to support growth if required. "We maintained a

positive outlook on India’s (Baa3 positive) rating in November 2016 based on our expectation that

economic and institutional reforms will support continued robust growth," the agency said in its latest

report on Asia Pacific. It said measures including relaxation of foreign investment restrictions, passage

of the Goods and Services Tax, and advancement of a workable bankruptcy code have potential to

stimulate private sector investment, which could lead to stable, balanced growth and gradually lower the

government debt burden.

Citigroup lowers India's growth forecast to 6.8 per cent for 2016-17 - Global

brokerage Citigroup has lowered India's growth forecast to 6.8 per cent for this fiscal from 7.2 per

cent earlier, as cash crunch has affected pick-up in consumption while uncertainty around

demonetisation may further delay any recovery in private investments. "Almost two months after the

demonetisation decision was announced, there are early indications of the negative shock to growth,"

Citigroup said in a research note. It further said that the pick-up in consumption growth (both rural and

urban), which was likely in the last two quarters of 2016-17, has not materialised because of cash

crunch. Moreover, investment growth was very sluggish even in the second quarter and the uncertainty

around demonetisation could further delay any recovery in private investment. "This could drag down

2016-17 GDP growth to 6.8 per cent, versus our previous forecast of 7.2 per cent," Citigroup said.

HSBC Pegs GDP growth at 6.3% on note ban pains - Foreign brokerage HSBC today

projected sharply lower growth numbers for the year at 6.3 per cent, way lower than the official CSO

estimate of 7.1 per cent for 2016-17. The Central Statistical Organisation had over the weekend released

GDP estimates wherein it had pegged growth at 7.1 per cent for 2016-17, lower than 7.6 per cent in the

previous fiscal year. The CSO said it did not calculate the impact of the note ban on economic growth.

The HSBC report, penned by its chief India economist Pranjul Bhandari noted that the GDP projection

"is not of much significance because the CSO has used inputs used for until September/October, which

is well before the November 8 demonetisation". This is surprising, said the report, as "CSO had access

to some post-demonetisation data for banking, it chose to stick to data till October. As such the CSO

estimate does not carry the full extent of the drag to activity inflicted by demonetisation". As per the

report, taking into account cash elasticity of GDP, economy is likely to grow at 6.3 per cent in 2016-17

Global growth edges up to 2.7% despite weak investment: World Bank - Global

economic growth is forecast to accelerate moderately to 2.7 % in 2017 after a post-crisis low last year as

obstacles to activity recede among emerging market and developing economy commodity exporters,

while domestic demand remains solid among emerging and developing commodity importers, the World

Bank said. Growth in advanced economies is expected to edge up to 1.8% in 2017, the World Bank’s

January 2017 Global Economic Prospects report said. Fiscal stimulus in major economies—particularly

in the United States—could generate faster domestic and global growth than projected, although rising

trade protection could have adverse effects. Growth in emerging market and developing economies as a

whole should pick up to 4.2% this year from 3.4% in the year just ended amid modestly rising

commodity prices. Nevertheless, the outlook is clouded by uncertainty about policy direction in major

economies. A protracted period of uncertainty could prolong the slow growth in investment that is

holding back low, middle, and high income countries. “After years of disappointing global growth, we

are encouraged to see stronger economic prospects on the horizon,” World Bank Group President Jim

Yong Kim said

India may leave tax treaty with Netherlands unchanged - India is unlikely to amend its tax

treaty with the Netherlands as it did with Mauritius, Singapore and Cyprus and this could shape the

investment strategy of foreign portfolio investors and private equity funds investing in India, said three

people in the know. “There were talks to amend the tax treaty between India and Netherlands for last

two years. Recently, we were told that as the Netherlands is not used for tax planning, The current treaty

can prevail,” one of the persons said. Senior officials from Netherlands also confirmed the development.

The officials were talking on the sidelines of Vibrant Gujarat, the annual investment jamboree of the

state government. FPIs will see their returns from India getting impacted as a result of the amended

Singapore, Mauritius and Cyprus tax treaties, and are already looking to shift their base to European

jurisdictions like France, Spain and the Netherlands. Industry trackers say status quo ante in the India

Netherlands treaty could mean many FPIs could prefer the Dutch route. Dutch officials insisted that

investors rooting their investment through the country are not doing it as a tax planning exercise. “There

is a 25% tax on book profit and on interest,” said an official

RBI seeks to make India Inc's foreign debt cheaper - The Reserve Bank of India has

suggested a uniform rate of withholding tax for overseas borrowings, irrespective of type and currency.

If the government agrees, this could lower the cost of overseas borrowing for Indian companies.

Simplifying the levy will improve the ability of Indian companies to raise money, given that funds are

expected to flow back to the US as interest rates rise there, experts said. Interest paid to a non-resident

on foreign currency borrowing or debt is currently subject to 5-20% withholding tax, with the standard

rate being 10%. The 5% rate is applied to some priority sectors such as infrastructure. “It is for the

government to decide on a uniform rate, whether it is to be at 5% or 20%. This is still being discussed,”

said an official aware of the deliberations. The government provides exemptions on money raised

through an infrastructure debt fund or loans raised through long-term bonds. In case of loans, a 5%

withholding tax is applicable if it has been approved by the central government and the money is

borrowed between July 2012 and June 2017.

Private Equity firms attend meet with Finance Minister on FDIs - Concerned over

dipping foreign direct investments , the finance ministry has invited a group of private equity

investors to discuss ways to achieve higher growth, greater foreign inflows and a targeted growth in

employment and infrastructure. Led by global PE fund KKR’s India head Sanjay Nayar, the

meeting was also attended by Carlyle’s India head Devinjit Singh, Multiples PE’s Renuka Ramnath,

Sandeep Singhal of Nexus and Madhav Dhar of GTI Capital. Setting up a higher growth agenda

and finding ways for private equity to play a role in it was discussed at the meeting. It was a very

positive move from the government as it did not involve the usual pre-budget tax sops discussions,”

said an executive present at the meeting.

✍ TOP ECONOMY NEWS

The Indian economy is expected to grow 7.1% in 2016-17, the Central Statistics Office said.

Tax anti-avoidance rule GAAR will kick in from April 1, 2017.

Foreign investors pulled out more than US$ 3 billion of the so-called 'hot money' from the Indian

capital markets in 2016, making it the worst period in last eight years in terms of foreign

investments.

Income Tax Department has been asked to scrutinise details and send notices to depositors of Rs

3-4 trillion on which tax could have been evaded.

The government plans to launch a second tranche of the CPSE ETF to raise as much as Rs 60

billion as a part of the 2016-17 disinvestment programme. The first tranche of the CPSE ETF was

launched during 2013-14 to raise Rs. 30 billion.

India's telecom subscriber base crossed the 1.1 billion mark in October, registering highest

customer addition of around 29 million in a month, driven by Reliance Jio.

The World Bank decelerated India’s growth for 2016-17 fiscal to a “still robust” 7% from its

previous estimate of 7.6% due to demonetisation, but asserted that the country would regain

momentum in the following years with 7.6% and 7.8% growth.

Finance Minister reiterated that the Centre is still aiming to roll out the Goods and Services Tax

regime from April 1 if all pending issues are sorted out.

Merchandise exports grew 5.72% year-on-year to USD 23.88 billion last month, while imports

rose 0.46% year-on-year to USD 34.25 billion.

India's trade deficit narrowed to USD 10.37 billion in December from provisional USD 13 billion a

month ago.

The Securities and Exchange Board of India announced reduction of 25% in the fee payable by

brokers and also decided to amend regulations to enable the market participants to make payments

to the regulator through digital mode.

India’s foreign exchange reserves declined by USD1.142 billion in the week ended January 7 to

USD359.2bn. In the preceding week, the reserves had increased by USD 625.5 million.

The government is considering a proposal to increase foreign direct investment limit in print

media sector to 49% from 26% at present.

India has imposed anti-dumping duties on colour-coated or pre-painted flat products of alloy or

non-alloy steel imported into the country.

✍ TOP CORPORATE NEWS -

SpiceJet is expected to order at least 92 Boeing Co 737 jetliners, as it looks to bolster its presence

in the world's fastest growing aerospace market.

Suzlon Group has announced its maiden order win of 105 MW wind power project from

Hyderabad-based Axis Energy Group.

Following the approval from the USFDA for its generic version of Bendamustine Hydrochloride

powder for injection, 25mg/vial and 100mg/vial (singe-dose vial), Natco Pharma will launch the

drug on November 1, 2019 or earlier in the US market.

Piramal Enterprises has received board approval to enter into the housing finance market.

BEML announced the Ministry of Defence, had communicated 'in-principle' approval of the

Cabinet Committee on Economic Affairs for strategic disinvestment of 26% equity shares in BEML

out of Government of India's shareholding of 54.03%. The said shareholding would be sold to the

strategic buyer(s) to be identified by the Government of India by following due procedure.

Aurobindo Pharma announced the acquisition of Generis Farmacêutica, which operates in

Portugal, from Magnum Capital Partners for an all-cash deal of EUR 135 million Rs. 9.69 billion.

PVR Limited has informed Bombay Stock Exchange and the National Stock Exchange of India that

the Delhi High Court has approved merger of two of its subsidiary companies with it, effective from

April 1, 2015.

Pokarna Limited has announced Pokarna Engineered Stone Ltd, its wholly-owned subsidiary, has

partnered Swedish home furnishing products retailer IKEA in India, to serve as its exclusive quartz

surfaces supplier and installation partner.

Jaiprakash Power Ventures has sought its shareholders' nod, through postal and electronic ballot,

to convert part of its outstanding debt of Rs30.58bn into 3.06bn equity shares.

Divis Laboratories has filed a detailed response within the permitted time to the observations made

by the US health regulator after inspection of the drug firm’s manufacturing plant at Visakhapatnam

in Andhra Pradesh.

Oil and Natural Gas Corporation Limited is close to finalising ways to complete its USD 800

million projects stuck midway after the contractor, Singapore’s Swiber Holdings Limited, collapsed

last year following an oil slump.

A set of critical observations issued by Portuguese drug regulator on Granules India Limited

Gagillapur unit near Hyderabad that manufactures pharmaceutical formulation intermediates and

finished dosages.

Aurobindo Pharma has received final approval from the US health regulator for its Levetiracetam

in Sodium Chloride injection used for the treatment of seizures with epilepsy.

The Centre is seeking a higher dividend on the back of Indian Oil Corporation, HPCL and BPCL

reporting much higher profits in the first half of this fiscal, as well as improved earnings per share.

The government has clarified that the consumers will not bear any extra burden on their auto fuel

bills.

Gujarat State Petroleum Corporation will buy entire output at a predetermined price from the KG

Basin gas field that it has agreed to sell to Oil and Natural Gas Corp for $ 1 billion, a key provision

that addressed gas pricing concerns of India’s largest crude producer and helped seal the deal.

JSW Cement is close to buying out the entire promoters' stake, including that of ACC Limited

which owns 12.65 % equity in the Shiva Cement.

BHEL has bagged a Rs. 960 million order from Power Grid Corporation of India for augmentation

of three extra high voltage sub-stations on a turnkey basis in Karnataka.

ABB India Limited won a $ 640 million contract for a 1,830-km (1,137-mile) power link in India to

connect thermal and wind power plants with the country's growing urban areas.

JSW Energy Limited awaited long-term power purchase agreement with the Karnataka government

has fallen through, forcing the company to look for short-term options.

US health regulator issued ‘’zero” 483 observations for the Hikal’s facility located at Bangalore.

New York Life International Holdings , a subsidiary of New York Life Insurance, will pick a 22.5%

stake in Max Ventures and Industries for a consideration of Rs. 1.21billion.

Welspun Group said it would invest Rs. 40 billion on three large textile projects in Gujarat.

BISPL, an indirect subsidiary of BPCL, plans to raise USD 600 million long term funds from the

international debt capital market.

The Suzlon Group has announced it has bagged 226.8 MW order from a leading independent power

producer to be installed in Andhra Pradesh.

Lupin Limited has received final approval from the US health regulator to market its

Desoximetasone cream, used for treatment of skin disease, in the American market.

MRF Limited said it will invest around Rs. 45 billion in a phased manner over a period of ten years

to set up a manufacturing unit in Gujarat.

Royal Orchid Hotels has acquired Amartara Hospitality by buying additional 24.9% stake in it.

Biocon Limited and its US partner Mylan said the US Food and Drug Administration has accepted

the biologics licence application for its biosimilar drug to treat breast cancers. An FDA would help

the drug enter the lucrative US market.

IL&FS Transportation Networks in a joint venture with PJSC Kyivmetrobud has bagged the Rs.

3.71 billion Chennai Metro Rail Ltd contract for design validation and construction of underground

stations.

NTPC board has approved an investment of Rs10.53bn for Dulanga coal mining project with rated

production of 7mtpa.

The Delhi High Court directed Cairn India Limited to commence arbitration on an ongoing dispute

with Videocon Industries Limited, Oil and Natural Gas Corporation and Ravva Oil, regarding the

refund of payments made by Cairn on behalf of Videocon for the operation of the Ravva oilfield in

the Krishna Godavari basin, within two weeks.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Private sector banks, including multinationals, are seeking to prevent wrongdoing by employees

and keeping them under scrutiny after multiple reports of alleged fraud by employees following the

November 8 demonetisation announcement that cancelled Rs. 500 and Rs. 1,000 notes.

Public sector lender Allahabad Bank slashed its benchmark lending rate by 0.85 per cent in line

with market competition. The bank has reduced marginal cost of funds based lending rate by 0.85

per cent to 8.60 per cent for 1 year tenor, Allahabad Bank said in a statement.

Private sector Axis Bank Limited became the third lender in the country to announce usage of

block chain solutions for its operations, after its peers ICICI Bank and Yes Bank.

Profits of Indian banks will continue to be hit by deteriorating asset quality in the next couple of

years resulting in depressed return on equity, a report by global credit rating agency Moody’s

together with its Indian affiliate ICRA said on Monday. Though the pace of asset quality

deterioration will slow, it will still remain a key challenge for banks in the next 18 months, Moody’s

and ICRA said.

Banking sector asset growth has slowed down in the past few years as bankers have turned cautious

on asset quality concerns. But among various bank groups, private sector banks have managed to

earn better returns on assets and equity compared to their public sector peers. private sector banks

have been more successful in raising low-cost funds, that is demand deposits in their current and

savings accounts, or CASA. Private banks’ CASA has gone up by close to 20 per cent in the last

two years, while that of public sector banks rose by less than 10 per cent. Besides, they have been

more successful in deploying the funds in more profitable lending activities.

The public sector banks will by March 2019 need equity worth Rs 1.7 lakh crore, which can turn

out to be higher on an increased credit growth, a recent Assocham-Crisil joint study has revealed.

"The public sector banks need equity of Rs 1.7 lakh crore by March 2019, which is a tall order

considering that banks have so far contributed to nearly half of the debt funding needed in the

infrastructure space," noted the study.

State Bank of India will take the lead among state-run lenders to launch branch less banking. The

latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and

end to end digitisation for all products and services.

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