Prefer private sector banks: Manoj Singla

Prefer private sector banks, says Manoj Singla, MD & Co- Head Product, Religare Capital Markets Ltd.

Singla told CNBC-TV18, "Especially on the public sector banks, asset quality has been a big concern this quarter. It was expected that these guys will have to provide more because of the movement to system based recognition and the restructured loans; it has still come as a negative surprise to us. So I do think that the PSU banks will face pressure atleast in the near-term.