The Nifty PSU bank index surged on the back of newsflow that the government might exceed their target of 25 percent profit growth in FY23.

So, 25-odd percent over Rs 66,000 crore of path for FY22 will give you a figure of around Rs 82,000 crore, but there is expectation, there is hope within government circles that maybe Rs 1 lakh crore could be feasible in the current financial year itself.

If it's not Rs 1 lakh crore, at least close to that number. So, it could be Rs 95,000 crore anywhere in that region is what has been given to understand as of now.

The banks are also well capitalised at present. The crowd is pretty healthy. So if one looks at the trend in the last two financial years, there hasn't been any big recap that has been done by the government, so maybe they are completely out of the woods finally.

And at last, but not the least, the point here is also that the high interest rates could also have an impact. So maybe that will kick in with a lag effect. It cannot be said whether this would be in the last quarter of the current financial year, or it could actually come in somewhere around the new financial year, first quarter maybe, but there could be a lag impact of higher interest rates on bank balance sheets. So that's the counter that one has to watch out for. But as of now, it's a very positive commentary coming in from government circles.

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