Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
R
Credit cost may rise with micro-loan portfolio growth
Management guided credit cost at 80-90 bps, up from historical ~70 bps, citing conservatism and micro-loan growth. If asset quality deteriorates, credit costs could exceed guidance.
medium · management_commentary
R
MSME asset quality improvement driven by ARC sale, not organic
MSME gross NPA reduction from 4.3% to 3.1% was largely due to ₹79 crore ARC sale. Excluding that, NPA levels were flat QoQ, indicating underlying stress remains.
medium · analyst_question
R
Co-lending regulatory changes could impact fee income
New co-lending guidelines (CLM 2.0) may alter economics. Management expects no impact, but transition risks remain if banks adjust terms.