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BJP win in UP to trigger war on cash; banks to benefit: BofA-ML
Bharatiya Janata Party's (BJP's) landslide victory in the key state of Uttar Pradesh (UP) is likely to intensify the government's war against black money / cash, suggests the latest Bank of America-Merrill Lynch (BofA-ML) equity strategy report co-authored by Sanjay Mookim and Anand Kumar.The crackdown, the report suggests, could entail more transaction disclosure, increased tax on cash, restrict cash holdings (remaining un-implemented proposal of SIT on black money). This war on cash, BofA-ML feels, will be beneficial for banks as it would result in more financial inclusion, more fees and potential lending. Better reporting can allow private banks to compete with the public sector units (PSUs) for SME (small and medium enterprises) business, it says. "Loan waivers (if large enough and if replicated outside of UP) can be taken negatively, especially for the PSU banks. Increased spending on irrigation, affordable housing is good for cement demand. Rural income measures (such as loan ...
 "BJP win in UP to trigger war on cash; banks to benefit: BofA-ML")
Investors raise allocation to banks as global growth optimism grows
Investor expectations of global growth have jumped to 19-month high, says a BofA-ML survey
 "Investors raise allocation to banks as global growth optimism grows")
Investors exit EMs post Trump victory, buy into US markets: BofA-ML
35% of the fund managers surveyed expect the global growth to remain strong over the next 12 months, up from 19% in the last month
Sensex can dip 10% by Dec-end: Sanjay Mookim
Interview with India equity strategist, Bank of America Merrill Lynch
 "Sensex can dip 10% by Dec-end: Sanjay Mookim")
Remain bearish on emerging market, says BoA ML
Lists seven reasons for not initiating 'buy trade'
