Accumulate State Bank of India, BoB: Devang Mehta

Devang Mehta, Senior Vice President & Head Equity Advisory at Anand Rathi Financial Services told CNBC-TV18, "I don't think the correction is over or the pain is over for next couple of quarters. Still the NPA problems persists for a lot of the banks and with monsoon progressing quite erratically we feel that this would again raise its own problems.""If somebody has a two year horizon and wants to start buying some PSU banks then this is time to start accumulating State Bank of India or Bank of Baroda but we would remain far away from other PSU banks or at least midcap PSU banks for the time being," he said.