In the past month, a post-Budget correction turned into a rout for the banking sector after the PNB (Punjab National Bank) scam emerged and other scams were unearthed in its wake. The PSU Bank index is down by about 11 per cent in the last one month, while the Private Bank index is down 1.3 per cent and the Nifty Bank (which combines private and PSU banks) is down 2.4 per cent. Financial Services overall are down 1.5 per cent.
Banking has been the worst-performing sector and the worst sub-sector is of course, PSU banks. But, problems in banking translate into
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