Public sector banks have been value destroyers of late as the fraud at Punjab National Bank damaged investor confidence in the sector. But, a few fund managers have done well to stay away from these stocks despite their outperformance last year. Data from Value Research, a mutual fund tracker, show that four large- or multi-cap oriented mutual fund schemes have stayed away from PSU bank shares in the last one year. UTI Equity Fund, Union Equity Fund, Templeton India Growth Fund and Invesco India Business Leaders Fund did not own a single PSU bank share in their portfolios from Feb 2017 to Jan 2018.
75 years to reach per capita income of $2730, will take only 5 years to add another $2000, FM Sitharaman
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