The government released its borrowing plan for the first half of FY19 which is considerably less than what they borrowed in FY18. In an interview to CNBC-TV18, Dinabandhu Mohapatra, Managing Director & CEO, Bank of India spoke about the latest happenings in his company and sector.
It is a very good move at the right point of time. All banks will be benefited by this. I expect around 20% rally in the bond today, he said.
Expect provisions to be lower by 50-60%, added Mohapatra.