Public sector banks (PSBs) in India may see a significant rally by 2024, but they will not be a bubble, says Rajat Rajgarhia, MD, CEO – Institutional Equities, Motilal Oswal Financial Services. He believes that the rally in PSBs will be supported by strong fundamentals and positive changes in the sector. Rajgarhia also highlights the optimism surrounding the government’s reforms and the potential for consolidation in the banking sector. Despite the rally, he reassures investors that PSBs will not be overpriced and remain an attractive investment option.