Indian Bank — Q4 FY26

Indian Bank Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=mXJ8gxgGwp0 Published: 2 weeks ago

0:02 2 seconds Yes sir please start sir. 0:04 4 seconds Sure sure. Uh good evening ladies and gentlemen. We welcome you all to Indian banks post results conference call for the fourth quarter of financial year 2026 hosted by MK Global. 0:14 14 seconds Call will be recorded. 0:16 16 seconds From the top management we have with us Shri Bin Kumar GI MD and CEO. Shri Ashto Chadri, executive director, Shri Shiv 0:24 24 seconds Bajang Singh, executive director and Shri Rajesh Kumar Singh, executive director and Mrs. Mi, Missi TM, 0:32 32 seconds executive director. I first I would request MD sir to briefly summarize the key highlights from the fourth quarter 0:38 38 seconds FI26 FI 26 results and also provide strategic direction on growth, margins and asset quality uh for FI27 post which 0:48 48 seconds we will have the Q&A session. Over to you MB sir. 0:52 52 seconds Thank you Ananj my colleague on board Mr. Atos Mr. SB Singh Madame TM Mini and one correction Mr. Brayes Kumar Singh is 0:59 59 seconds not here he's or some other other meeting and dear dear 1:05 1 minute, 5 seconds investors analysts thank you for sparing on time and coming to the call of Indian bank. 1:13 1 minute, 13 seconds So I if I summarize in result I think it has been a decent year almost all parameter except cost to 1:21 1 minute, 21 seconds income ratio uh we have given we we have done better than our gu guidance uh deposit total process has grown by 12.79%. 1:33 1 minute, 33 seconds And total deposit has grown by 12.29% advance has grown by 13.43%. 1:39 1 minute, 39 seconds Kasa which has been the challenge kasa still we have grown by 10.85%. 85%. And after a deep in June inconsistently all 1:46 1 minute, 46 seconds three quarter my kasa share has gone up in September it was 13.87% then 3908 then 39.677%. 1:55 1 minute, 55 seconds So kasa kasa we have been able to maintain almost we have given guidance of 40% so 39.6 7% almost we have 2:03 2 minutes, 3 seconds maintained we remain very cautious in raising bulk deposit. Of course we have to but we remain very cautious in raising bulk 2:10 2 minutes, 10 seconds deposit. Uh advance has grown by 13.43% and primarily contributed by RAM sector Ram has grown by 15.28%. 2:21 2 minutes, 21 seconds And corporate has grown corporate last year if you see my growth was only 3%. 2:26 2 minutes, 26 seconds This year corporate also has grown by 9.19%. 2:30 2 minutes, 30 seconds uh and and within RAM it is contributed primarily by retail which is 18.72% and 2:36 2 minutes, 36 seconds MSME which which is 16.39 39%. We have sanctioned around six lakh loan and 2:42 2 minutes, 42 seconds 48,000 cr to MSME sector. Jo loan remain our strength area. So Joel loan also has 2:49 2 minutes, 49 seconds grown very at a very decent pace of almost 20 28% and reached up to 1.27 2:57 2 minutes, 57 seconds trillion. Uh coming to the efficiency parameter, efficiency parameter net profit has reached for the quarter 3,13 3:07 3 minutes, 7 seconds with a sequential growth of 1.3%. And for the year 10,918 to 12,156 with a growth of 11.33%. 3:16 3 minutes, 16 seconds Operating profit has charged 5,286 with QQ growth of 5.21%. If I talk of 3:23 3 minutes, 23 seconds annually, it has gone from 18,998 to 19,916 with a growth of 4.83%. 3:31 3 minutes, 31 seconds NI also we 7,1009 it has touched with a sequential growth of 3.09%. If I talk of 3:39 3 minutes, 39 seconds annually with a growth of 6.91% and has reached 26,915 other income we have seen marginal 3:47 3 minutes, 47 seconds decline in sequentially why it's 8.32% growth primarily because of the impact 3:55 3 minutes, 55 seconds on the treasury income. Uh NIM if you see for the quarter it was 3.23% but if you see annually it has come down from 4:03 4 minutes, 3 seconds 3.41 to 3.24 24 so 17 basis point decline and we have given guidance of between 3.15 to 3.30 so we have 4:12 4 minutes, 12 seconds maintained that roa ro for the quarter it is 1.28 Q4 it was 1.28 28 but if you 4:20 4 minutes, 20 seconds see annually with in March it was 1.32 and March 26 we ended at 1.31 so only one basis point decline in that return on asset for the quarter it is 18.98%. 4:32 4 minutes, 32 seconds Uh but for the year end it is 19.53%. 4:36 4 minutes, 36 seconds Uh then cost cost to income ratio of course cost to income ratio is is one area where we have given call is being recorded and transcribed 4:45 4 minutes, 45 seconds but actually we ended up for the year it is 46.0 03 but we have taken force correction and cost to income ratio has 4:52 4 minutes, 52 seconds come down from 46.90 in December will now be connected to the meeting to 44.99 in March 25 provision coverage 5:02 5 minutes, 2 seconds ratio is constant at 98.28 we are maintaining since this December also March also for the year also it is same credit cost annualize for the quarter it 5:10 5 minutes, 10 seconds is 0.47 47 annualize it is 0.31. 5:16 5 minutes, 16 seconds Uh the then asset quality asset quality 5:22 5 minutes, 22 seconds it has gross NPA has come down from 3.09 to 1.98 with a reduction of 111 basis point. Net NPA from 0.19 to 0.15. 5:32 5 minutes, 32 seconds Uh slipage ratio for the quarter it is 0.96 but if I talk of annual age it is 0.85 85 which has come down from 1.11. 5:42 5 minutes, 42 seconds A recovery for the quarter it is, 1499 but for the year it is 6,651. 5:48 5 minutes, 48 seconds We have given guidance of 5,00 between 5,500 to 6,500. 5:53 5 minutes, 53 seconds SMA SMA of course I would like to highlight. So I will start from March 24. March 24 my SMA was 15.59 6:01 6 minutes, 1 second which came down to 18.06 06 in March 25 and now it is 4.73%. So good work has 6:10 6 minutes, 10 seconds been done by the department in on SMA front and SMA if I talk of more than two 6:16 6 minutes, 16 seconds more than 5 crore it is 922 cr only we have made some provision although we are not seeing any 6:25 6 minutes, 25 seconds stress because of West Asia crisis but we have made a provision of around 310 6:31 6 minutes, 31 seconds cr in the keeping this crisis in view but as I role in the SMA data we have we are not 6:40 6 minutes, 40 seconds seeing any stress this is purely prudently we have made so that in case something happens then uh we will have some cushion 6:49 6 minutes, 49 seconds uh then during the year we have sanctioned around 4 lakh 26,000 cr taken 6:58 6 minutes, 58 seconds all together retail agriculture MSME corporate with a growth of 62% 62% growth there is in the sanction 7:06 7 minutes, 6 seconds corporate also we have sanctioned around 1 lakh 1.31 trillion. So corporate also around 62% growth we have seen maximum 7:13 7 minutes, 13 seconds growth is in MSME at 81 81%. We have a pipeline of 51,000 cr 7:20 7 minutes, 20 seconds and not much of a stress we have because personal loans we don't have much only 6,500 mfi also not much 3,300 in 7:28 7 minutes, 28 seconds corporate last year around 8,000 cr exposure in NBFC it has come down by around 8,000 cr out of that NBFC 7:38 7 minutes, 38 seconds exposure in uh AAA double A and A it is around 99%. So majority of that is in 7:45 7 minutes, 45 seconds AAA category. Coming to the guidance, guidance we are giving deposit guidance of between 9 to 11%. 7:56 7 minutes, 56 seconds Advanced growth of between 11 to 13%, CASA approximately we will maintain around 40%, 8:02 8 minutes, 2 seconds CDR around 80%, gross NPA between 1.50 to 1.60 net NPA at the same level I mean 8:11 8 minutes, 11 seconds less than 25 0.25 25 you can say recovery of course as our pool is coming down so going forward this year also if 8:20 8 minutes, 20 seconds you see from last year to this year it has come down by around 1,000 crores it was 7,600 which has come down to 6,600 8:28 8 minutes, 28 seconds so uh giving guidance of between recovery between 4,500 to 5,500 AU recovery last year also was good we 8:37 8 minutes, 37 seconds have given guidance of 2,000 and actually we surpassed that we are giving guidance of recovery in return of book 8:44 8 minutes, 44 seconds between 1,200 to 1,500 NIM guidance also see I don't see further rate cut but uh cost of deposit 8:53 8 minutes, 53 seconds I expect that it will remain elevated because of advanc growth is odd facing deposit 9:01 9 minutes, 1 second growth so I see some pressure on the new so that's why I'm giving guidance between 310 to 3.25 25 ROA also I'm 9:10 9 minutes, 10 seconds giving some guidance between 1.20 to 1.30 30 credit cost we will maintain less than 9:17 9 minutes, 17 seconds one slipage ratio we will maintain less than one broadly these are the things and apart from that we have taken some initiative 9:26 9 minutes, 26 seconds like I told in kasa we have taken some initiative because of that we we have been able to maintain kasa almost maintain kas 9:35 9 minutes, 35 seconds various product we have launched and two products we really we have some seen good traction we are analyzing why other 9:42 9 minutes, 42 seconds products have not taken up. So in that line we have launched Ind aspire for women because Indepire we have seen good 9:50 9 minutes, 50 seconds traction. So we have launched Indepire for women and in gig champion for gig gig workers we have launched a new product. So hopefully we will see some 9:59 9 minutes, 59 seconds traction in coming quarter in very recently we have launched in operative account we have around 34 lakh in operative account we have made them 10:07 10 minutes, 7 seconds operative and that has resulted in total balance of around 4,000 cr. Similarly, we are focusing on QR code and boss 10:15 10 minutes, 15 seconds machine etc. Because float I believe these nobody now that has financial 10:22 10 minutes, 22 seconds literacy is improving and there is a structural shift. People are become investors becoming investor 10:29 10 minutes, 29 seconds instead of savers. So we have to rely on float and salary account we have added around more than three lakh salary 10:36 10 minutes, 36 seconds account we have added during the during the quarter. uh average balance I would like to highlight average balance 10:44 10 minutes, 44 seconds if I see average balance in saving fund normal account I'm seeing X BBD account 10:51 10 minutes, 51 seconds uh it has gone up from 30,000 which was last year to 46,000 similarly in current account average balance has gone up from 10:59 10 minutes, 59 seconds 1.8 lakh to 2.64 64 lakh. So we are focusing on the strengthening of the relationship, depending of the relationship. 11:09 11 minutes, 9 seconds Of course two challenge I will say for this year growth 11:15 11 minutes, 15 seconds I believe country uh government and RBI as you must be seeing in the newspaper also they will take all measures to 11:24 11 minutes, 24 seconds sustain the growth econom GDP growth. So if GDP growth is intact, I believe 11:31 11 minutes, 31 seconds credit growth will also be intact. If there is some headwind on the deposit, GDP growth of course then impact will 11:39 11 minutes, 39 seconds come on us. But two immediate challenge I see the recovery recovery of course 1,000 cr already it has gone down and 11:47 11 minutes, 47 seconds this year treasury profit may not be to the extent it was last year but there also some good news. We have not booked 11:56 11 minutes, 56 seconds very high profit in the treasury that means we have not sold some good 12:04 12 minutes, 4 seconds yielding securities. So that may help us in passing through this phase. Uh now I will request Mr. my colleague Mr. Atos 12:12 12 minutes, 12 seconds to highlight about the digital initiative what we have taken during the year. Thank you sir. Good evening all. 12:20 12 minutes, 20 seconds The digital business of the bank for financial year 2526 has grown by 63% uh 12:28 12 minutes, 28 seconds and reached 2 lakh 72,000 cr. The mobile banking customers has 12:34 12 minutes, 34 seconds increased to 2.36 cr. The base has increased and the mobile banking transaction has shown a healthy growth of 15%. 12:44 12 minutes, 44 seconds Uh that is 65.8 lakhs per month the transaction is happening there. 12:51 12 minutes, 51 seconds The digital adoption rate in retail and agree has reached to 97%. That means the 12:58 12 minutes, 58 seconds loan uh the retail and agree loan that has been sanctioned uh that is 97% 13:06 13 minutes, 6 seconds through digital channel. The bank is implementing 10 plus AI 13:12 13 minutes, 12 seconds and aentic AI related platforms with the help of almost more than 160 uh fintech partners. 13:23 13 minutes, 23 seconds Uh when sir has touched about the kasa let me say last year we introduced a uh 13:30 13 minutes, 30 seconds segment of customers VVX those who have uh not visited the branch for quite some 13:37 13 minutes, 37 seconds time we have classified them that particular category of customers are uh almost increasing and it has reached to 13:45 13 minutes, 45 seconds 22 lakhs and the base identified to move uh some more customer that best is 13:54 13 minutes, 54 seconds almost one floor plus. So in the digital aspect we have done that and this year we have uh introduced a CRM platform. 14:05 14 minutes, 5 seconds The CRM platform that we introduced is for uh retail. Now we are going to 14:11 14 minutes, 11 seconds introduced for corporate and in that platform the module also will enable service request and sales management. So 14:21 14 minutes, 21 seconds this will not only deepen the existing uh uh relations relationship with existing customer but also it will give 14:30 14 minutes, 30 seconds a boost to acquire new customer based on this sales management. 14:35 14 minutes, 35 seconds Now I would uh like to tell a couple of things that we have uh done uh during this particular financial year. We have 14:43 14 minutes, 43 seconds digitized the corporate credit. The journey is almost complete and uh we are taking one step forward in a corporate 14:51 14 minutes, 51 seconds credit journey that I will discuss with all of you. We have a partnership with pass aggregators where we can uh provide pass machine to customer of other banks. 15:03 15 minutes, 3 seconds Then we also introduced a new corporate website. 15:07 15 minutes, 7 seconds Uh we are strengthening our uh UPI app in UPI. The updated version will be 15:14 15 minutes, 14 seconds introduced this financial year. We have introduced EFRM solutions that is a realtime AIdriven behavioral analysis 15:23 15 minutes, 23 seconds platform which will help in curving uh the digital frauds as well as money mule account. We have introduced uh IND uh in 15:33 15 minutes, 33 seconds Optima that is our cash management services where almost 150 plus corporate customer has been onboarded. 15:42 15 minutes, 42 seconds So uh in uh the uh pipeline I would like to also uh highlight some of the things 15:50 15 minutes, 50 seconds we are introducing introducing a corporate ecosystem engine which will help our relationship managers while uh 15:59 15 minutes, 59 seconds negotiating with the customers. We are also planning to introduce an RFP creator because we uh produce a lot of RFP for onboarding IT and nonIT vendors. 16:11 16 minutes, 11 seconds We are also in the process of introducing in invoice processing that will uh this will uh automate the 16:19 16 minutes, 19 seconds received validation, approval and payment of invoices. Uh in CRM platform we are uh introducing lead nurturing uh 16:28 16 minutes, 28 seconds management. We are introducing an intelligent document reader. This will help in our documentation post sanction. 16:37 16 minutes, 37 seconds when we go for documentation this will check legality of that particular document. So also with this efm solution 16:44 16 minutes, 44 seconds this suspicious transaction reporting that we are planning to automate along with this uh with our news and contact 16:51 16 minutes, 51 seconds center we are automating the grievance redressal uh mechanism which will uh reduce the t and improve the customer uh 17:00 17 minutes experience. Uh thank you sir with this 17:08 17 minutes, 8 seconds uh thank you sir. Uh now we'll take up the Q&A. So request all the participants to use the raise as an option and if you have a question please unmute yourself. 17:19 17 minutes, 19 seconds Uh first question we'll take from Aja G. 17:22 17 minutes, 22 seconds Ajin G please unmute yourself and ask your question. 17:28 17 minutes, 28 seconds Yeah. Hello. Uh yes Aj. Yeah. Uh hello sir, good evening sir and uh congratulations for yet 17:37 17 minutes, 37 seconds another good quarter as you yourself had also said and I can see also that you have surpassed 17:45 17 minutes, 45 seconds on the all almost every front except one or two on the guidance so that is commendable and not only touched or this 17:53 17 minutes, 53 seconds thing but like in case of the credit also the growth is very good 13.43%. 18:00 18 minutes Even in the deposit also in spite of the various challenges uh you have done very well 12.29% 29% 18:08 18 minutes, 8 seconds and oar recovery in the entire year uh is very good 258 crores of course next 18:15 18 minutes, 15 seconds year target you have reduced a bit than that so my compliments on that sir so my 18:22 18 minutes, 22 seconds first question or rather I would like to seek your views and comments on this ECL guidelines now they have been finalized 18:31 18 minutes, 31 seconds now and RBI has declared the final guidelines which we were waiting for quite some time and many of the banks had already started preparing for that 18:40 18 minutes, 40 seconds and making some extra additional provisions also. So in our case in our bank how is the preparedness how much 18:48 18 minutes, 48 seconds total going total hit we are going to going to get and whatever the time has been given I think up to 31st March 2030 18:56 18 minutes, 56 seconds or some people are saying 31 uh how are we prepared to take care of this extra provisioning. So just my first even 19:05 19 minutes, 5 seconds though though you are saying that even in this quarter also you have made 310 cr extra provision on the standard asset 19:12 19 minutes, 12 seconds to take care of any eventuality but that is that is on the uh geopolitical situation in west west Asia war. So uh 19:21 19 minutes, 21 seconds can I have your uh your views on this sir? 19:25 19 minutes, 25 seconds Yeah so before thank you Amera Raj. So before coming to that this quarter also we have sold IBPC of around 6,000 cr and 19:34 19 minutes, 34 seconds we have opened 102 branches against we we have set target of opening around 300 branches in three years. So we are on 19:41 19 minutes, 41 seconds track of that. So coming to your question to your ECL guidelines Amir G guidelines only yesterday and few things they have added. 19:54 19 minutes, 54 seconds So whatever we have calculated in the uh draft guidelines I think impact will be 20:02 20 minutes, 2 seconds little higher than that. However we are in the process actually guidelines has come only yesterday. We are in the process of calculating which I think in 20:11 20 minutes, 11 seconds a week or because see I I can give some number but that will not be very relevant because ultimately next meeting 20:17 20 minutes, 17 seconds you will say you sir you have you have told this number now you are saying this number so I don't want to 20:25 20 minutes, 25 seconds create that situation uh we will give you concrete number so that variation is minimum but having said that having said 20:32 20 minutes, 32 seconds that let me assure you all of you that impact is not going to be very huge 20:39 20 minutes, 39 seconds because we as all of you know we have been preparing in different ways not in only in name of ECL but we have been 20:47 20 minutes, 47 seconds preparing in different ways uh and so we since last five year we have been going through a very good phase I will say 20:55 20 minutes, 55 seconds benign asset quality phase so I don't see much of the impact in the I mean 21:02 21 minutes, 2 seconds overall impact and as I told you earlier in the in earlier all that we will be 21:09 21 minutes, 9 seconds able to absorb all the impact in one year. Now I am saying now we will be able to absorb all the impact in say 6 21:18 21 minutes, 18 seconds to 9 months maybe between one one to three quarter maybe. So that is I mean broad broad you can say. 21:25 21 minutes, 25 seconds Yeah. 21:27 21 minutes, 27 seconds Okay sir. Quite well taken sir. Sir, my another observation is on the slippage in this quarter which is increased to 21:35 21 minutes, 35 seconds 1,355 cr against about 1,000 cr in the last uh quarter and 21:43 21 minutes, 43 seconds going forward with this kind of situation prevailing you know geopolitical which impact might not have seen much in March but in this quarter 21:52 21 minutes, 52 seconds in the coming April May June we might have some impact on that and you also covered little bit on this So, so uh 22:00 22 minutes where do you see the uh I mean first of all do you see that it will make major impact if if if the war I mean goes on 22:10 22 minutes, 10 seconds or we I mean there's total uncertainty on that so how and how much impact do you see and from where it can come 22:19 22 minutes, 19 seconds negatively and how are we prepared to take care of that uh so that is my another uh if you can just elaborate on 22:28 22 minutes, 28 seconds that and uh coupled with that uh you know the SMA numbers has drastically has come 22:37 22 minutes, 37 seconds down SMA 2 from 4,39 cr to 922 crores and SMA 1 has gone just little bit 700 22:44 22 minutes, 44 seconds cr only higher so whether going forward uh you know both these questions are 22:51 22 minutes, 51 seconds coupled I mean it's basically connected to each other yeah yeah thank you thank you So first of all if you see from the March 23:00 23 minutes December it has gone up slipage but that is every quarter if you see every annual March there will be around 400 to 500 23:09 23 minutes, 9 seconds core MOC. So this number has hello this number has this number has gone up 23:16 23 minutes, 16 seconds basically on account of MOC and that was also in the last March also there was around 500 cr MOC this this 23:24 23 minutes, 24 seconds quarter also around 400 cr MOC so this this March will always be have some MOC because that because of that slipage 23:32 23 minutes, 32 seconds ratio will be higher there after that one thing I can assure you during the financial year this number of course I 23:41 23 minutes, 41 seconds mean something very I mean something drastic happens then I cannot say but in normal 23:49 23 minutes, 49 seconds situation this number slipage ratio will be better in all the quarters except March again there will be some 23:58 23 minutes, 58 seconds MOC so every quarter you can assume that the slipage number will be less than that number one number two coming to SMA 24:06 24 minutes, 6 seconds so SMA reduction I will not take any brani point because two government account are there. So that that is not in SMA 2. That's why number has come 24:14 24 minutes, 14 seconds down. So no brownie point for that. SMA 1 SMA 1 increase has come because one account out of that is in SMA 1. So SMA 24:22 24 minutes, 22 seconds 1 has little bit increased. But if you see SMA total SMA total SMA has really gone down from last year 45,000 cr 24:32 24 minutes, 32 seconds 46,000 cr. Now it is 30 31,000 cr. So SM number overall has come come down. 24:39 24 minutes, 39 seconds See stress if you talk of the stress stress is not only from the war stress is already from the tariff point. That 24:48 24 minutes, 48 seconds means from August you can say that there is some stress in the system. 24:53 24 minutes, 53 seconds I have believed in the resilience of the banking system and resilience of our economy and you must be seeing various 25:01 25 minutes, 1 second positive response from all the governor and various ministers that whatever required they will try to maintain the 25:08 25 minutes, 8 seconds economic growth rate. So if economic growth rate is maintained I think the government will take some measure and because of that I am not seeing much 25:17 25 minutes, 17 seconds impact on the uh asset quality also and if at all if at all because already it 25:25 25 minutes, 25 seconds is around four to five month around 7 month if you take from August means four and three seven month almost 7 month 25:32 25 minutes, 32 seconds then almost it should have started some incipient increase in SMA so which we are not seeing 25:39 25 minutes, 39 seconds not So hopefully we will tide this time also without being impacted much 25:48 25 minutes, 48 seconds sir. Now on the treasury also you touched on the treasury front in this quarter also it has taken a toll you know the the loss on the sale of the 25:57 25 minutes, 57 seconds investment is 10 I mean the 105 cr and then profit 99 cr minus the pro means 26:06 26 minutes, 6 seconds treasuries has a pressure on this as far as this quarter even in the last quarter also it was there little bit so but you also said at the same time that going 26:15 26 minutes, 15 seconds forward uh we since we have the uh you know higher value higher yield lower 26:23 26 minutes, 23 seconds yield higher income investments in our book. So in this coming in this current quarter how do 26:30 26 minutes, 30 seconds you see the treasury you know performing going forward? No, of course there will be impact on the treasury. No denying 26:37 26 minutes, 37 seconds but impact only only limited. My point is impact will not be very severe because we have not see if you have sold 26:46 26 minutes, 46 seconds all the securities and has raised securities with the lower yield then my impact would have been higher. But since 26:53 26 minutes, 53 seconds we have not sold so impact will be there of course but impact will not be as uh I mean 26:59 26 minutes, 59 seconds sever as severe and still I expect that around for the year I'm saying maybe 27:06 27 minutes, 6 seconds around,00,200 profit we will earn through treasury 27:13 27 minutes, 13 seconds sir your digital front you are you performed exceedingly well in fact there is lot of advancement and ashoto as as 27:20 27 minutes, 20 seconds usual has explained very much in detail about the digital in advancement of the bank. But uh in the real term uh 27:29 27 minutes, 29 seconds whenever these journeys are completed and these digital products are put to the use are we assessing the actual 27:38 27 minutes, 38 seconds impact of the digital introduction or apart from the surveillance and other things which doesn't directly produce 27:44 27 minutes, 44 seconds anything are we seeing any commercial like benefits is there any study done on 27:51 27 minutes, 51 seconds that and the like v you know the kind of investment which you are making every bank is making huge investment on this but have we started measuring it uh on 28:01 28 minutes, 1 second the impact on the revenue on the positive side and how much is it is that that process has been put into the practice sir 28:08 28 minutes, 8 seconds see very very pertinent point as Mira because I have also been saying that we are spending huge in it but benefit of 28:16 28 minutes, 16 seconds that to the extent we desire is yet to come that will happen as our digital uh 28:25 28 minutes, 25 seconds you say What we say adoption not only adoption people actually start using digital channel like for example still 28:34 28 minutes, 34 seconds yes yes yes of course if you ask we are are we getting benefit we are getting benefit like our 94% transaction are 28:42 28 minutes, 42 seconds through digital channel so if they visit the branch cost will be at least 5x higher if a 28:50 28 minutes, 50 seconds customer visit branch cost will be at least 5x higher plus we will have to keep more employee So we are taking benefit if not directly 28:58 28 minutes, 58 seconds indirectly we are taking benefit of that a and as this adoption we rate of this 29:05 29 minutes, 5 seconds adoption will increase one one just one data I'm saying uh say digital fd people 29:13 29 minutes, 13 seconds come to branch bank for making fd so we have just try t try to push that why people are coming to the branch there 29:21 29 minutes, 21 seconds are c certain set of people will they will definitely come so we don't discourage them but those who can do transaction on their own we are 29:28 29 minutes, 28 seconds encouraging them to do transaction on their own. So as when they will do transaction on their own of course that will be costsaving to us. 29:38 29 minutes, 38 seconds And what a what a coincidence around this I was sitting with a client in the just little before in the afternoon only 29:46 29 minutes, 46 seconds and you know of course that is a private bank. So he was having 1 cr rupees only 29:53 29 minutes, 53 seconds in the current account. It's a small MSME kind of a client. So I said why don't you stagger it and put it in the 30:01 30 minutes, 1 second abd you know that that banker that person came within 15 20 minutes they had some visit and on the spot online he 30:10 30 minutes, 10 seconds made three abds of 20 25 lakhs rupees for different duration of 91 days to 271 30:18 30 minutes, 18 seconds days or whatever on this spot within five minutes you know the abd were made I mean on the system only and seen 30:26 30 minutes, 26 seconds so of effect wise positive whether it would have been in the current account it would have benefited more for 3 days to the bank like that's a different 30:35 30 minutes, 35 seconds thing but ease of doing business and uh you know these things are going to only thing you know many of the bankers I'm 30:42 30 minutes, 42 seconds talking about is that is the time has not come when we start putting I mean 30:49 30 minutes, 49 seconds using some tools putting some measurement that that you know the profit or the advantage can become measurable 30:58 30 minutes, 58 seconds We will try to Thank you very much. 31:02 31 minutes, 2 seconds I I it is in the backdrop of the mind but quantification. 31:08 31 minutes, 8 seconds So what one one measure I that I run in my mind I just share with you that say if you see manpower of the banks has remained constant over last five years. 31:21 31 minutes, 21 seconds But if you see business of bank has grown by double or in few cases more than double. So of course benefit we are 31:30 31 minutes, 30 seconds driving. It's not that benefit we are not driving. Only thing it is not quantified on paper. We'll definitely try. 31:36 31 minutes, 36 seconds Sir you become almost 15 lakh cr business bank just shying away with 5 6,000 crores only. So anyway sir compliments 31:46 31 minutes, 46 seconds to you. All the best to you and uh if time permits I might come again. Thank you. Thank Thank you. 31:54 31 minutes, 54 seconds Uh yeah, thank you AJ G. Any other participant if you have a question please use the raise an option. Uh we'll have question from Aka Badani. Aka please unmute yourself and ask question. 32:05 32 minutes, 5 seconds Yeah. Hi uh thank you for taking my question. Um my question was around the lines of as you indicated the cost of funds uh will be going up currently also 32:15 32 minutes, 15 seconds it's going up. So what levers do we have on the asset side you know where we could offset this or if there are 32:22 32 minutes, 22 seconds certain set of you know segments where we can price our loans better going forward. 32:30 32 minutes, 30 seconds If you ask me very frankly very few levers are left because see uh almost 50% of loan book is linked linked to external benchmark. 32:41 32 minutes, 41 seconds You you you have you have hardly any liver on that only that then that only area remains loan linked to MCLR. 32:51 32 minutes, 51 seconds Uh so as cost of because that their cost of fund is inbuilt also. So only liver that is the only liver but MCLR is also 32:59 32 minutes, 59 seconds formuladriven you cannot do much. Then only one thing we remains we take 33:05 33 minutes, 5 seconds benefit of it and try to I mean at least maintain cas if not increase because 33:13 33 minutes, 13 seconds kasa that that will be the only thing because see bulk rate is very high you cannot do anything with that since bulk rate is high retail term deposit rate we 33:21 33 minutes, 21 seconds cannot reduce anything so that is that only that remains and asset quality asset quality we have to ensure that asset quality is remains very good 33:30 33 minutes, 30 seconds otherwise is NE is also not there and there is issue on the asset quality then of course there will be tough time 33:39 33 minutes, 39 seconds and so so just then coming to asset quality uh since you know our exposure overall in our loan mix you know to 33:46 33 minutes, 46 seconds agree and MSME sectors is high although we have created you know extra provision buffer this quarter uh how do you 33:54 33 minutes, 54 seconds envisage uh you know the situation especially in both the segments which could be vulnerable uh going forward given the you know if there could be 34:03 34 minutes, 3 seconds inflationary uh pressure going forward see agree we don't have much challenge because majority of my agree book is 34:11 34 minutes, 11 seconds from jewel loan so agree we don't see any challenge MSME of course MSME if some stress come which is if industry is 34:20 34 minutes, 20 seconds impacted I will also be impacted but as I told I think government will also do something if 34:29 34 minutes, 29 seconds something happens Then government will do also something and at least as of now it is not reflected as I told in SMA 34:38 34 minutes, 38 seconds otherwise something must have I mean started inching up at least in SMA not NPA then SMA it must have started 34:45 34 minutes, 45 seconds inching up. So far I have not seen uh and believe 34:53 34 minutes, 53 seconds we will pass through this phase without being impacted much. 34:59 34 minutes, 59 seconds Okay. Sure sir. Sure. Thank you for answering my questions. 35:07 35 minutes, 7 seconds Thank you. A uh next question we'll take from Jay. Jay, please unmute yourself. 35:20 35 minutes, 20 seconds Yeah. Hi, good evening sir and thanks for the opportunity. Uh sir if you can quantify the you you have said that the 35:27 35 minutes, 27 seconds total SMA is 31,000 cr if you have the number for SMA 0 1 and two separately. 35:38 35 minutes, 38 seconds Yeah thank you J. So total SMA is 31,000 out of that SMA zero is 50 almost 16,000 35:46 35 minutes, 46 seconds SMA 1 is 9,000 SMA 2 is 6,000. 35:52 35 minutes, 52 seconds Okay sure. So sir I think okay so SMA0 only has gone up but if if I compare versus last quarter then one and two 35:59 35 minutes, 59 seconds they have reduced okay one is similar and two has reduced okay and 36:05 36 minutes, 5 seconds uh secondly sir on your growth so last year at the beginning of the quarter we also said 10 11 uh% kind of a growth but 36:14 36 minutes, 14 seconds we did you know uh if I look at this year we ended at around 15% kind of a growth 36:22 36 minutes, 22 seconds you have excellent asset quality less than 80% LDR what is the realistic growth number that we should assess 36:30 36 minutes, 30 seconds because sir 10 11 12% is actually lower than the industry so are you okay with the growing lesser than industry or you 36:38 36 minutes, 38 seconds want to be at least similar to industry so this year also industry grown at 16%. 36:44 36 minutes, 44 seconds So I am okay with little bit I mean even if little bit slower than industry without compromising on the asset 36:51 36 minutes, 51 seconds quality and nim. So my my focus is of course growth but nim and asset quality 36:58 36 minutes, 58 seconds should also remain intact. But what one thing why I'm giving guidance of 11 to 13% in advance let me tell you around 16 37:07 37 minutes, 7 seconds to 17% of my book is jewel loan and last year Joel loan because of the increase in price we have seen good 37:15 37 minutes, 15 seconds number so maybe similar kind of growth we may not see in J loan this year so that's why I'm giving guidance of between 11 to 13%. 37:26 37 minutes, 26 seconds Understood. Understood. And Z said the retail term deposit uh uh that should continue to improve right. I mean as of 37:35 37 minutes, 35 seconds now uh even if the repricing bulk of the repricing is over but still the cost of deposit will keep reducing only right. 37:44 37 minutes, 44 seconds Is that the understanding right or uh or not? 37:49 37 minutes, 49 seconds No. See retail term deposit also we we are not able to reduce any rate of interest on that because bulk is at 37:58 37 minutes, 58 seconds elevated level then you cannot keep very wide gap between retail term deposit and bulk because of that even retail term 38:04 38 minutes, 4 seconds deposit will remain at this level or or maybe few of the banks if you have noticed in March few of the banks have increased retail term deposit rates 38:14 38 minutes, 14 seconds right okay sure and sir if you can quantify your AFS reserve uh how much was how much is the AFS 38:23 38 minutes, 23 seconds reserve as end of the quarter and maybe quarter three uh so just to understand how much was the swing 38:30 38 minutes, 30 seconds yeah swing is see December quarter it was 4,000 plus March quarter it was minus it is minus 200 38:39 38 minutes, 39 seconds okay so so around 4200 cr swing right no 4,000 I told sorry 400 so 400 to 400 to minus 200. 38:51 38 minutes, 51 seconds Right. Right. And say total gold loan books sir in you have given the retail gold but how much will be the agree gold 38:58 38 minutes, 58 seconds and MSME gold put together if you have that number? 39:02 39 minutes, 2 seconds 1 1.27 is the total jewel loan 1 1.27 lakh cr 39:09 39 minutes, 9 seconds right okay thank you so much sir I'll come back in the queue sir. Thank you. Thank you Jay. 39:17 39 minutes, 17 seconds Yeah thank you Jay. Uh next question we'll take from Park Gutka. Uh Park please unmute yourself. 39:22 39 minutes, 22 seconds Yeah. Hi uh hi sir. Uh sir my question is on the overseas advances you know uh last couple of quarters we are seeing we 39:30 39 minutes, 30 seconds are seeing phenomenal growth uh in in this uh segment. Can you just elaborate on the same uh you know which which part 39:36 39 minutes, 36 seconds of the as in uh this relating to which sector and from which regions? Yeah we have only two branches. 39:46 39 minutes, 46 seconds Sri Lanka hardly anything only gift city and Singapore. So we are participating basically in the uh syndicated loan and of some trade finance. 40:00 40 minutes So I mean not any sector specific but we are participating in syndicated loans. 40:06 40 minutes, 6 seconds So from different sectors it it not any specific sector. 40:11 40 minutes, 11 seconds Okay. Okay sir. And my next question is what is the proportion of bulk deposits within the overall deposits? 40:19 40 minutes, 19 seconds Uh bulk and city taken together around 18 to 19%. 40:23 40 minutes, 23 seconds Okay. And what is the internal threshold? Uh we have not kept internal threshold as 40:31 40 minutes, 31 seconds such but we would like to maintain in this range only. I mean less than 20. 40:36 40 minutes, 36 seconds Okay. Okay sir. Thanks a lot sir. Thanks a lot for answering my questions. Thank you Pal. 40:43 40 minutes, 43 seconds Uh thank you. Next question we'll take from a Baladani. A please unmute yourself. 40:59 40 minutes, 59 seconds Yeah is not around. We'll take the question from Jan Karote. Uh Jen, please unmute yourself and ask a question. 41:15 41 minutes, 15 seconds Uh J request you to unmute yourself and ask a question. 41:26 41 minutes, 26 seconds Uh Jen, we are not able to hear you. Uh pick up. Yeah, Jen. Yeah. Yeah. 41:32 41 minutes, 32 seconds Sorry about that. So, first question is on the asset quality. uh if you can help us quantify what is the total outstanding floating provisions that you 41:40 41 minutes, 40 seconds hold on your book uh uh contingent or floating and uh then follow up to that is the ECL uh requirement I know you you 41:49 41 minutes, 49 seconds said that the number could be higher uh but uh if you could help us what was the initial assessment at least uh in the size why I'm getting slightly confused 41:57 41 minutes, 57 seconds is you said the number may be higher but then you said we will do it in three quarters and not four so uh is it about the steady state impact or is it about 42:06 42 minutes, 6 seconds the one one time impact if you can just sort of uh give me three three clarifications. 42:13 42 minutes, 13 seconds So in NPA in fact we are not holding any floating provision LPA whatever account we are making only 42:20 42 minutes, 20 seconds a specific account wise provision number one. Number two see while while I told it is number is higher when we make 42:29 42 minutes, 29 seconds assessment of the ECL guidelines there were certain things we have taken up with RBI based on that we have made various scenario. 42:38 42 minutes, 38 seconds So uh so keeping these scenario in view I have told that uh maybe we may need one year time uh but now that final 42:47 42 minutes, 47 seconds guidelines has come and now we with I mean almost certainty we can say of course number we are calculating and why 42:57 42 minutes, 57 seconds there is some impact because HTTM book earlier it was not part of the draft guidelines now HTTM book has come that's 43:03 43 minutes, 3 seconds why impact will go up but overall impact what we are saying worst case scenario. 43:08 43 minutes, 8 seconds So from worst case scenario now it has improved that's why I'm saying it will go up but overall yearly overall impact 43:16 43 minutes, 16 seconds will be less as compared to worst case scenario. S you also done some accelerated provisions uh this quarter uh right related to uh the the West Asia 43:25 43 minutes, 25 seconds war. So including that what is the total uh provisions that you hold outside your uh PCR? 43:34 43 minutes, 34 seconds They don't tell even me. 43:37 43 minutes, 37 seconds My CFO is very hard. He does not disclose to me also. 43:42 43 minutes, 42 seconds But you would have some idea because it will be needed in their ECL to offset the ECL impact. Right? 43:47 43 minutes, 47 seconds They are giving only with the impact that two exact they have not given so far. So we are working on that. Let us let us see. So how much of this quarter 43:56 43 minutes, 56 seconds at least can you call out of of the provisioning this quarter was uh linked to NPA provisions and others were 44:02 44 minutes, 2 seconds NPN PAC NPA will not help much. So we have around this quarter 44:09 44 minutes, 9 seconds around 500 odd cr we have made in the standard. 44:15 44 minutes, 15 seconds Great sir. So second question was regarding LCR. uh if you could help us give your average LCR number and uh 44:23 44 minutes, 23 seconds again how how has that been uh trending and I have a follow. 44:28 44 minutes, 28 seconds Yeah, LCR we are comfortable throughout the year we are comfortable and because of the implementation of this new guidelines from 1st of April there is 44:36 44 minutes, 36 seconds benefit of four to five basis point. So where are you right now on the LCR? LCR 127. 44:44 44 minutes, 44 seconds Average is 127. 44:46 44 minutes, 46 seconds Average 127. At present we are at 123 124. 44:49 44 minutes, 49 seconds Average is 127. At present we are at 123 124. 44:54 44 minutes, 54 seconds So then just to add if you are sitting at 127 and you will have 400 to 500 release uh why run at such a high LCR 45:03 45 minutes, 3 seconds when you are uh you know paying such high cost for deposits. uh why not operate at 115 120 and it will help your names 45:10 45 minutes, 10 seconds without taking name of the bank one bank had to raise 45:17 45 minutes, 17 seconds very huge sum at very high cost so I don't want to create that situation where when everybody panics so little 45:26 45 minutes, 26 seconds kusen is always what do you think is a fair number what is a fair number that every bank should operate at I think around 150 to 120 we should uh 45:36 45 minutes, 36 seconds going below 150. I mean say one some event may entirely impact and and let me 45:44 45 minutes, 44 seconds tell you we are not making a special special I mean efforts for maintaining 45:52 45 minutes, 52 seconds LCR whatever we have access in the SLR book that is contributing to maintaining of the SLR so it's not like that 46:01 46 minutes, 1 second specifically for this purpose we are purchasing SLR Great. So basically that's where you are 46:09 46 minutes, 9 seconds also not guiding for very high trading profits because uh you want to uh enjoy that on both on NIM's side as well as SLS LCR side 46:17 46 minutes, 17 seconds LCR side uh benefits of that bonds. 46:20 46 minutes, 20 seconds Great. Great. So at least that is a good straight strategy. Uh thanks thanks and all the best for the Thank you. Thank you Jan. 46:28 46 minutes, 28 seconds Uh yeah thank you J. Uh last question we'll take from Ashlesh. Ash please unmute yourself and ask a question. 46:36 46 minutes, 36 seconds Hi sir and good evening. Um so two questions from my side. First one is on the comment you made 46:44 46 minutes, 44 seconds prefer to prioritize maintaining margin and asset quality over just growth. Good to hear that. Uh but sir if I have to paint a scenario where over the next 46:52 46 minutes, 52 seconds year the cost of deposit go uh continues to inch up from this level let's say by 20 or 30 basis points. Um 47:02 47 minutes, 2 seconds how would you in that scenario maintain your margins? what livers would you have at your disposal? 47:08 47 minutes, 8 seconds That is one. Uh secondly, you made the statement about ECL that you will potentially be able to absorb it over a period of 1 to 3 quarters. Does that 47:16 47 minutes, 16 seconds mean that the uh the ECL shortfall onetime number will be somewhere between 1 to three times your quarterly PPOP? Is that a is that the understanding? 47:30 47 minutes, 30 seconds So the I mean you can make inference but that is a huge number gap 1 to 3/4 is a huge gap. So 47:38 47 minutes, 38 seconds so coot of course as I told you if cost of deposit keep on inching so part of that 47:45 47 minutes, 45 seconds will be offseted by increasing in MCLR because cost of deposit is also part of the MCLR. So part of that of course MC 47:53 47 minutes, 53 seconds MCLR will also increase start increasing so that then that will help. 48:01 48 minutes, 1 second Anything anything you can do on the asset side possibly change the mix further towards low better yielding assets 48:09 48 minutes, 9 seconds or high pricing. See asset side I really I mean don't see much of the scope 48:17 48 minutes, 17 seconds because in corporate boot book definitely not something can be done in the segment say mid- segment you can say 48:25 48 minutes, 25 seconds between and again retail MSME is linked to your uh EBLR there also you cannot 48:33 48 minutes, 33 seconds increase spread so spread sector so that book is also tied up only thing remains some some corporates 48:40 48 minutes, 40 seconds between mid-segment corporation that's why we are focusing on mid-segment corporates between 50 cr or 100 cr to 48:48 48 minutes, 48 seconds 500 cr there we can command little better price uh as compared to the 48:55 48 minutes, 55 seconds corporates or retail and MSM and that area remains my focus area 49:05 49 minutes, 5 seconds understood sir and second one on that ECL thing just trying to understand the statement which you have Right. When you say we'll be able to absorb it in one to three quarters. 49:14 49 minutes, 14 seconds Uh but that is the that is huge wide range. 49:22 49 minutes, 22 seconds Let us see. I I will come up I will give give numbers very shortly. It's not like that. We have some assessment but I 49:29 49 minutes, 29 seconds don't want to give any number and then come back and say that no no it has gone up and or or it has substantially come down. I either way it is not right. If 49:38 49 minutes, 38 seconds you if you give you if I give you a number and that number go up it is not right for anybody and either way also if 49:45 49 minutes, 45 seconds I give number and then you come down substantially that is also not right that's why and it is too early before 49:53 49 minutes, 53 seconds day before yesterday it has come understood sir sir and just lastly if I can squeeze in one more uh given that 50:01 50 minutes, 1 second bond yields have increased over the past uh few months uh does that mean that your provisions for AS15 can decline materially over FI27. 50:14 50 minutes, 14 seconds I expect materially means I mean per quarter if you are making making say 800 to maybe 100 cr you can save you can save. 50:26 50 minutes, 26 seconds Understood sir. Yeah. Perfect. Okay sir. Thank you. 50:31 50 minutes, 31 seconds Thank you. Uh sir one question which has come in the chat box uh again it is related to ECL only uh is that uh 50:40 50 minutes, 40 seconds earlier basically you had said that about 1 to 1.5% will be the impact on the capital in terms of ECL now it would 50:48 50 minutes, 48 seconds have gone up or down whatever like you may do the calculation but uh does it means that in FI27 itself you will 50:56 50 minutes, 56 seconds absorb the EC impact through P&L and you will not need any impact to be taken on the 1st April 2020 27 through net worth. 51:04 51 minutes, 4 seconds No. Is that what it means? 51:07 51 minutes, 7 seconds No, no, no. 1 to 5% I have told I have told you will absorb in one year. That that is what I have told 51:14 51 minutes, 14 seconds 1 to 5% impact. So, so maybe somebody might make inference out of that. But of course, no of course some impact will 51:23 51 minutes, 23 seconds come in next year also because entirely we cannot make provision in this financial year. Although we have four quarter but still we cannot make entire 51:31 51 minutes, 31 seconds whatever requirement is there. So some impact will spill over to the next year also. 51:37 51 minutes, 37 seconds Okay. And despite assuming I mean absorbing the impact you still guiding about 1.2 1.3% RO this year. 51:48 51 minutes, 48 seconds Yeah. Yeah. 51:50 51 minutes, 50 seconds Sure. So do you expect some one-offs to come through like you know that you're going to absorb so much of uh EC impact this year itself? 51:58 51 minutes, 58 seconds No no no no no one off normal this year also sina despite doing all these things 52:05 52 minutes, 5 seconds we have been able to maintain around 1.3 sure sir only last 52:13 52 minutes, 13 seconds only challenge that treasury will not be there so so so part of that will be compensated by I mean nim decrease I I 52:22 52 minutes, 22 seconds expect that it will not be as severe as last Sure sir. Uh last question we'll take from 52:30 52 minutes, 30 seconds social joy. Uh please uh limit your question so that we can end the call on time. Over to you sir. 52:38 52 minutes, 38 seconds Uh good evening. Congratulation to team Indian bank. are based on current global environment, 52:45 52 minutes, 45 seconds India may be better off and southern states are even better off because lot of manufacturing, GCC, 52:53 52 minutes, 53 seconds uh even textile has some stability and some other sectors. How is the pipeline visible on various sectors starting from 53:02 53 minutes, 2 seconds renewable infrastructure, data center, MSME and what is unavail credit as of today? 53:10 53 minutes, 10 seconds So we we we have around 51,000 cr pipeline out of that sanction and unavail 3 35,000 that is term loan only. 53:19 53 minutes, 19 seconds So that is the pipeline. 53:23 53 minutes, 23 seconds What what what sectors are attracting Indian bank to underwrite businesses sir? 53:29 53 minutes, 29 seconds uh two three sectors Susil G one green green green you see already green are everywhere battery also EV also then 53:39 53 minutes, 39 seconds solar power also uh transmission line also I think this year transmission line we will see lot of 53:47 53 minutes, 47 seconds this government PPP and then data center data center also we are seeing lot of demand in data center I think last year 53:56 53 minutes, 56 seconds road sector has been little slow but we may expect this year some traction in the road sector. 54:05 54 minutes, 5 seconds Any color on MSME specifically from southern region which uh led by auto ancillary, textile, other manufacturing 54:14 54 minutes, 14 seconds sectors like leather dies and southile I think textile is struggling since last 54:23 54 minutes, 23 seconds I mean one year before that also textile was not doing very great. 54:30 54 minutes, 30 seconds uh and in fact that has saved many of the textile companies since last 2 three years they were not doing very good they have many I know many of the company 54:37 54 minutes, 37 seconds they they have not availed any of the uh working capital even few of the company I know who has not a working capital 54:45 54 minutes, 45 seconds since their sales is not very good sir so so so and food leather also leather 54:53 54 minutes, 53 seconds we don't have much exposure in leather so we don't worry much on that cont only Little bit worry we had for the textile 55:01 55 minutes, 1 second but I think they have so far they have tied tied away. 55:07 55 minutes, 7 seconds So being conservative at the same time being prudent on quality you are very comfortable where your growth is concerned despite challenges for this year. This is the summation of your Q&A. 55:18 55 minutes, 18 seconds Yeah yeah yeah yeah. I mean asset quality plus bottom line is also important. 55:26 55 minutes, 26 seconds Sir one last question to Ashto G. What is the digital budget for this year? And as India's transforming, we also need to 55:34 55 minutes, 34 seconds transform processes are changing. What is our budget now for coming years on the digital spend? 55:42 55 minutes, 42 seconds Let me answer it in a relative manner. 55:46 55 minutes, 46 seconds The budget will be more or less equivalent to the uh human cost. That means the uh salary and all those things 55:54 55 minutes, 54 seconds we are paying to our employee. So in that way you can definitely correlate. 56:02 56 minutes, 2 seconds So you will match the human cost in digital spend the almost the employee cost will uh it will be in and around that. 56:12 56 minutes, 12 seconds So any any signs on RAM specifically of uh some kind of indicative warnings that economy is having some impact. 56:27 56 minutes, 27 seconds Specifically not not much of impact we have seen Susil G because even otherwise SMA it 56:36 56 minutes, 36 seconds would have start started increasing SMA so not much impact we have seen. 56:44 56 minutes, 44 seconds So thank you for answering all my questions and good luck for the year to the entire team of Indian bank. Thank you. Thank you Susil G. 56:52 56 minutes, 52 seconds Thank you Susil G. We will take that as last question. Uh with this we come to the end of Indian bank's post results conference call for fourth quarter FI26. 57:00 57 minutes Uh I now request the management uh to give their closing remarks. If you have any sir. 57:06 57 minutes, 6 seconds No, I think all the points has been discussed. Only thing as I told we remain very cautious uh for the bottom 57:14 57 minutes, 14 seconds line and growth bottom line and asset quality and growth 57:21 57 minutes, 21 seconds we we are okay with 1 to 2% less than the industry. So that is okay. This year also it is around 13.46%. 57:29 57 minutes, 29 seconds whereas we could have sold even more because around for the year we have sold around 23,000 of IBPC 57:38 57 minutes, 38 seconds so we remain cautious of that and uh two challenges as I explained earlier two challenges this year see recovery and 57:46 57 minutes, 46 seconds treasury income so but we will be able to maintain whatever guidance we have been given thank you thank you all sir 57:54 57 minutes, 54 seconds that's yeah that's very helpful on behalf of MK and the management of Indian I thank all the participants for joining uh this evening and have a good day. Thank you. 58:04 58 minutes, 4 seconds Thank you. Thank you Anji. Thank you all.