Interest rates to be benign, see 0.75% cut by Mar 2016: UBS

The much-talked about relief for PSU Banks appear convincing. He admits it is difficult to predict if private sector best practices will be replicated by the PSU Banks five years down the line, but the direction is definitely positive.

 UBS remains overweight on the sector and advises buying SBI . 

IT, the other talked about space, believes the transformation of business to meet current needs will make it tough for IT companies to achieve double digit growth.

 Earnings season, which by and large have been mixed in June quarters, he does not sees sharp growth ahead though chance of negative earnings surprises has diminished a little. 
On urban consumption, Chhaochharia said it is still remains muted.

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