Even as the Sensex continues to sclae new peaks, buoyed mainly by the PSU banks stocks rally, after the Narendra Modi-led government announced a mega plan of Rs 2.11 lakh crore to recapitalise the stressed public sector banks, Sumeet Nagar of Malabar investments says that it’s more of a quick fix solution, and doesn’t actually solve the problem. In an interview to ET Now, Sumeet Nagar, Managing Director, Malabar Investments said, “It’s obviously very good for the system, the fact that PSU banks which are struggling have got the capital, but is doesn’t solve the problem.”
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