Sunil Subramaniam believes that the banking sector may see a downgrade in terms of portfolio allocation due to the provisions announced by the RBI. However, he expects decent and healthy banking numbers, especially in corporate lending and SMEs. He also anticipates a pickup in mid and mass market segment consumption, supported by increased rural wages and government spending in an election year. He also likes PSU banks, which he believes will finance the capex cycle and be the vehicle of government dispersal.