Following the Rs 11,400 crore PNB scam, even as we continue to see major scandals in the Indian banking space, Chris Wood of CLSA says that there has been a banking issue in India for several years and he is hopeful that all this news flow creates more determination for the government to let the whole bankruptcy resolution process work as outlined in the new legislation. In an interview to ET Now, Chris Wood, Equity Strategist said that he is bullish on India\u2019s private sector banks. When asked specifically about ICICI Bank and Axis Bank, with ICICI Bank CEO in focus due to recent reports of alleged impropriety in Videocon loan case, and Axis Bank CEO Shikha Sharma\u2019s curtailed term, Wood says that he is buying only \u2018real private sector banks\u2019. \u201cThey are called private banks but actually they are not private banks because they are historically public sector banks. I would call those two entities pseudo private sector banks. My equity allocations are in real private sector banks,\u201d Chris Wood told the channel. Apart from \u2018real private sector banks,\u2019 Chris Wood is buying is bullish on the affordable housing theme and residential real-estate stocks. He is particularly enthusiastic about the RERA enactment. \u201cThe areas I want to play most are affordable housing in India which is a five-year story and I want to play the real estate sector based on the consequences of this RERA legislation which I believe will lead to a healthy consolidation,\u201d he said in the interview. \u00a0 Chris Wood said that implementation of LTCG tax on equities from this fiscal year could lead to drop in inflows overall. Calling the decision unfortunate, Wood said that foreign investors are looking at dollar returns. \u201cThe rupee not being very weak is a positive but the long-term capital gains (LTCG) tax to me is an unfortunate decision to take when you had big inflows finally coming into equity mutual funds. Another big issue for India this year is what happens to these inflows? Do they suddenly stop? If they suddenly stop, that would definitely be negative because in my view, foreigners will not fill the gap,\u201d he said.