First it was FM who presented a let down, lacklustre, directionless budget. Allotting bulk to schemes under which nothing comes thru` in reality: roads, wells, borewell etc. To such an extent beneficiaries cannot consume in an year. Then it is Guv/RBI. Never a banker. He is a babu, an IAS one. A former Finance Secretary. Now he dictates terms to all the banks, public sector and private. Increased provisioning from 24% to 25%, 0.4% to 1%, NPA thing. What not. No wonder banking scrips crashed. The sector was being re-rated when he made public his quarterly policy. So, instead of going up, the sector crashed even as he was fielding questions in a press conference. In place of doing it just before the expiry, he could have as well done it after, ie, on the Friday. The losses could have been mitigated. So much for professionalism. This happens only in India.
| NIFTY 
