What is the point in seeing the P/E ratio and P/BV ratio?

the ONLY truth is the P (Price)

We do not know how far Earnings are true and how far the Book Value is true. So when these numbers are thrown at you you really need to ask what is the PRICE TO TRUTH ratio.

People have called the bluff in the Icici, Axis, Yes bank balance sheets. It is not to say that the other banks (private sector) do not have them. They too might – however I reiterate my view – If the owner is sitting on the board, the chances of creating NPA are much lesser.

read this article by Andy Mukherjee..

https://www.bloombergquint.com/opinion/2017/08/07/indian-banks-soaring-price-to-truth-ratio