Big pvt sector spend 12-15 months away: HDFC Bank's Puri

As the GDP momentum picks up and the effect of the government spending and the public sector projects starts being felt, sentiment and demand will improve, says Aditya Puri, Managing Director, HDFC Bank.“Then private investment will come in but between conception and change in sentiment and that affecting GDP is a 12-15 month period. So, we don’t see too much private investment coming in before that,” Puri tells CNBC-TV18.He sees GDP growth for this fiscal at 7.5 percent.Puri says traditional banks do not have to worry about the entry of payment banks as demand exceeds supply for financial services at this point.“The small bank will provide service where the larger banks do not have the reach and the larger banks will also continue,” he says, but cautions that there will be competition based on superior technology. However, there will also be a competition in terms of change of technology.“Which is why we pre-empted that competition and went into the entire digital because most of these banks will use the same technology,” he says.“Except they will have to build up the customer base which we already have,” he says.Watch video for interview