well this is purely my personal view , i may be totally biased.
I like the credit/lending business because of many reasons ,i think we all write 10 of them.
First when any country grows at 8% the biggest beneficieries will defenitely be lenders.
Second thing is the overall perception of indian PSU banks is changing , look at BS of all PSU banks in last 3 yrs.
Third thing is , The perception of RBI towards NBFC is also changing, look at the last 12months circumstances.
and also try to understand the kind of practice this NBFCs are doing.
Fourth factor is JIOs entry which impact may be less but not negligible.
Fifth, if u understand problem of CD ratio, the only solution is to go to villages and increase ur customers base, and obviously lend to micro finance customers.

tell me who will be looser of all this factors… …

Disc. Not invested in arman Holds Canara bank , JK bank & BOB

Clarification from BCL –

https://www.moneycontrol.com/india-investors-portfolio/

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Please provide link to Nalanda portfolio,
Thank you.

It was specifically addressed to Shail and he has replied too but here are some points, if it can be of help. Again, it will won’t be a pointed advice, as you are seeking but only general observations : 1) A lot will determined on the basis of the tax and surcharge bracket, you are in. After all, net returns counts and nothing else. 6% in short duration funds, over 3 years is actually the better of the returns…some have done as pathetic as 4.5-5% and the passover effect of ‘would be’ interest rate cut is far off from short term funds, as of now. . Post tax, this will be even lesser but if you had bought them 3 years ago, the saving grace is indexation can be applied to the ones if you redeem now 2) The taxation on arbitrage funds will be same as Equity and hence an 8% in arbitrage is equal to getting 10.6% in debt fund (assuming it is LTCG in arbitrage…if not, it will be equal to 10.1%…assumption top tax bracket). plus most arbitrage funds, don’t have exit loads or have exit loads, that are applicable for short tenure only 3) The switch to long duration fund – what is the effect of tax on redemption of long duration? Same as slab rate, independent of STCG or LTCG…