Indian public sector banks have been suffering for last few years due to high non-performing assets. The banking sector needs government's support and strong reforms for its revival.

Indian markets remained weak last week with stock specific action. While the Indian currency faced pressure, stock specific action was witnessed.

Indian government has move ahead with its decision to consolidate some of the public sector banks in order to improve efficiency and have better control over management of these banks.

Indian markets have gained ground after the Finance Minister announced measures to calm investing community.

Nifty slips below 10900 as selling pressure intensified amid negative global cues and domestic concerns.

This is hugely positive for the market. This is something which should address the ongoing concerns as well as those structural changes that should have been brought into effect a while back.