Competitive dynamics, slow economic growth hurting banks: Dimensions Corp

Competitive dynamics and slow growth of the economy are hurting banks, which had a very good run for a decade, said Ajay Srivastava, CEO of Dimensions Corporate Finance Services, on Wednesday.

Talking about India, in an interview to CNBC-TV18, he said, “In India the problem is demand; our taxation structure has written-off inflation, the consumer discretionary spending. The government needs to do something serious about it because that is hurting now whether it’s rural India, urban India.”

On PVR, Srivastava said that the FII holding is dropping and domestic holding is going up which suggests that the long-term holders are liquidating the stock.