IDFC Bank is a new generation private sector bank and the valuation is quite attractive, trading at almost 1.5 times book value. Hardly any private sector bank is available at these valuations. The entire banking space offers you opportunity and we like it because though on the books, it appears that the NPAs are there but actually they are a part of the demerger process. When this bank was carved out by IDFC, the NPAs came up but they do not have anything more. The way they are using the technology and the way they are launching newer products, they have a long way to go from here and the real story will unfold after two to three years. So if someone is a longterm investor and can wait for two to three years, these are picks one should go for.