It is a fact that be it in the PSUs or private banking sector, this sector as a whole is a laggard for quite some time ; partly because of NPAs issue - bad loan which most often is on the part of corporate houses and others in connivance with those running the show. Though, government is trying hard to infuse more money to bring the banking sector out of current turmoil but, more than anybody, it is the officials who are to be honest with their parent organization ; it being their bread n butter.
Med to long term, one can keep Allahabad Bank in mind. With its reserves and deposits increasing and better earning than the other players besides average EPS, it can be bought. Those holding it already should hold with conviction.
Decision making though calls upon the individual investor to do personal home work.