Accumulate banks on dip: Nitin Rakesh

Accumulate banking stocks on dip, says Nitin Rakesh, CEO & MD of Motilal Oswal Asset Management Company.

Rakesh told CNBC-TV18, "I think banks have been one of the leader in the sector over the last 18-24 months in terms of the overall movement in the markets, so they are going through a fairly deep correction, 20-25% is become the norm and the last standing bastions of private sector banks also got fairly beaten down this week.