As per latest report in many news papers, more than 20% to 25% Jan Dhan accounts are non operational. Probably those were opened some time back but never used.
I personally believe that, there is huge population growth which will happen in next few decades, and more population will need to still open Bank accounts. With per Capita income in India at 2500 USD (number looks inflated to me!) as per some recent news, there is immense scope that this will slowly go up as well.
HDFC Bank may surprise all of us by growing at reasonable rate for another 10 years, and with Valuations moving toward its Mean which is above 4.0 P/B, there is enough scope for the stock to grow.
Companies which are 10-15 Lakh crore in Market Cap today can still become 2-3 baggers going forward, if the economy grows from current levels to about 10-15 Trillion Dollars. Our large caps are equivalent to Mid Caps of USA / China, so I do not think that, Large caps can not grow.
Many large caps have still potential to become Mega large caps.
Disclosure Holding HDFC Bank since 2011. Booked profits from time to time but planning to hold for more time. My views may be biased.
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