Exit Indian Overseas Bank, pick SBI: Vijay Chopra

Vijay Chopra of enochventures.com told CNBC-TV18, "We all understand about gangrene which is there in the banks. So this non-performing asset (NPA) issue has hit the balance sheet hard and the government is also trying, the banks are also trying to solve this issue. But again, it would take some time. And I have no doubts that Indian Overseas Bank (IOB) can come back to Rs 29-31. So if one is able to get that level, he/she should exit and switch to State Bank of India (SBI)."

"My recommendation is that you should always be with the best in the largecap space rather than being in the smaller banks because the opportunity I suppose in SBI is much bigger than in IOB."

"One would definitely get the rates of Rs 30. One has to wait for some time of course, but yes, once you gets that, should switch to either SBI or Bank of Baroda which is much better placed than IOB," he added.