The fourth quarter earnings of the banking sector disappointed but Rakesh Jhunjhunwala is totally bullish as he believes that legacy problems in banks will be over soon and there will be no stopping goods banks from growing. In the Q4 of FY18, most of the banks posted losses on account of higher provisioning for NPAs (non-performing asset). In an interview with CNBC-TV18, Rakesh\u00a0Jhunjhunwala said that he is an "interested party" in banking stocks and that\u00a0opportunity to grow is "unbelievable" in them. "I have a simple theory if India is to grow at 12% nominal, 7-8% GDP and 4-5% inflation, there is no way in the world that credit growth can be less than 1.25-1.5% of GDP growth. Most of the bad debts were related to corporate lending prior to 2013. It will come to an end someday. Once the provisioning normalises,\u00a0profits will go through the roof," India's Warren Buffett,\u00a0Rakesh Jhunjhunwala, told the news channel. "Once it happens, the return on assets will go up, ROE will go up, valuations will go up. One will benefit not just from\u00a0enhanced earnings but also enhanced valuation," he added. Rakesh Jhunjhunwala is also bullish on the pharmaceutical industries and said that the worse is over. Mumbai-based pharmaceutical major Lupin Ltd, in which Rakesh Jhunjhunwala hs invested, grew nearly 20% in the last one month to Rs\u00a0899.6 from a share price level of Rs 750.8 as on 15 May 2018. The ace investor owns about 1.92% stake in Lupin Ltd which accounts for about 86.98 lakh equity shares. Earlier this year, at\u00a0TiE Conference in Mumbai, the \u2018big bull\u2019 said that sooner or later a political situation will arise to privatise public sector banks. "No need to have more than 3 public sector banks," he had said.\u00a0\u00a0Rakesh Jhunjhunwala is known for his perfect market strategies that have helped him get big returns from the markets. He always advises investors to stay put in the markets for a long-term, and play with patience.