Public sector banks have been in the limelight once again with the country’s second-largest public sector bank, Punjab National Bank unearthing fraudulent transactions. SAIBAL GHOSH, chief investment officer at Aegon Life Insurance in conversation with Puneet Wadhwa says he is remains cautious on the banking sector. Nifty earnings should grow at around 17% - 18% in FY19, he says. Edited excerpts:
Is the worst over for the markets?
The reason for the recent market correction is more global than local. The risks to the equity market is more from hardening of bond yields worldwide than any domestic disappointments. However, it