Banking May Get 8-Pronged Budget Boost

Tax breaks on NPA write-offs, FII limit waiver on depository receipts among sops expected

The Union Budget is expected to bring cheer to the banking sector on at least eight counts, according to analysts.

These include increased tax breaks for writing off of non-performing assets (NPA), exclusion of GDR/ADR holdings from the overall foreign institutional investor (FII) limit, a reduction in the government