Punjab & Sind Bank — Q4 FY26

Punjab & Sind Bank Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=U88vmpZQ3kw Published: 2 weeks ago

0:02 2 seconds Good morning ladies and gentlemen. I am Ganesh Shanka the moderator for today's earnings call. 0:08 8 seconds I welcome and thank each one of you for joining us today for the Punjab and Patin banks earnings call for Q4 FYI26. 0:17 17 seconds Please note that this conference is being recorded and all participant lines will be in the listenon mode. There will 0:24 24 seconds be an opportunity for you to ask questions after the opening remarks by the management. 0:30 30 seconds Should you need any assistance during the conference call, please raise your hand on the WebEx panel or press start 0:37 37 seconds three # on your phone. I repeat, should you need any assistance during the conference call, please raise your hand 0:43 43 seconds on the WebEx panel or press star three hash on your phone. I would now like to introduce the management of Punjab and 0:52 52 seconds Sin Bank. We have with us today Shri Swarup Kumar Saha, managing director and chief executive officer. Sri Ravihara, 0:59 59 seconds executive director, Sri Rajiva, executive director and Sri Arnab Bowswami, Chief Financial Officer. I 1:06 1 minute, 6 seconds would now like to hand over the conference to Sri Swarupkumar Sahasar the MD and CEO of Punjab and Sin Bank 1:14 1 minute, 14 seconds for the opening remarks after which we will have the forum open for the interactive Q&A session. Thank you and over to you sir. 1:22 1 minute, 22 seconds Thank you Mr. Ganesh. Good morning everybody. 1:26 1 minute, 26 seconds On behalf of Punjaben Bank, I welcome all the participants and the analysts that have joined this analyst call of 1:35 1 minute, 35 seconds Punjaben Bank on the Q4 and annual financial results of financial year 2526. 1:43 1 minute, 43 seconds Uh the bank bank's board has approved the results of the bank yesterday and we 1:52 1 minute, 52 seconds have already uploaded the necessary disclosures along with the analyst presentation in the uh stock exchanges. 2:01 2 minutes, 1 second Many of you could have uh already gone through the presentation but to start the discussion I would like to mention a 2:09 2 minutes, 9 seconds few highlights of the of the bank's results uh and then we'll have the a question and answers. So the total 2:17 2 minutes, 17 seconds business of the bank has grown by 14.94%. 2:22 2 minutes, 22 seconds uh a historic growth for the bank for Punjaben bank and the test 263,2 2:28 2 minutes, 28 seconds 652 crores for the financial year deposits has shown a robust growth of 12.37% 2:36 2 minutes, 36 seconds gross advances has also shown a very robust growth of 18.29%. 2:42 2 minutes, 42 seconds The CASA uh which has its own challenges in the current ecosystem but the growth of our CASA uh deposits has been 10% 2:51 2 minutes, 51 seconds plus though the ratio has marginally tipped but the uh the greenshoot of it 2:58 2 minutes, 58 seconds is this that we are continuously able to grow in this in this segment the return 3:05 3 minutes, 5 seconds deposits and is a very very encouraging sign for the bank and uh we are growing at nearly 20% % at 19.58% overall. So 3:14 3 minutes, 14 seconds these were the some of the topline uh numbers in terms of the consistency in in our operational 3:23 3 minutes, 23 seconds income. Uh the operating profit for the year has grown by 5.16% and stands at 3:29 3 minutes, 29 seconds 218 cr. The net profit of 1322 cr has been the highest ever historic profit of 3:36 3 minutes, 36 seconds the bank over in it in its history. it has grown by 30.12%. 3:43 3 minutes, 43 seconds Net interest income was uh uh was was at a flat of 0.74% 3:49 3 minutes, 49 seconds at 3812 cr. However, we like to mention here that uh the last year in Q4 in view 3:57 3 minutes, 57 seconds of a resolution of a big ticket advance, we had a one-off uh interest income of substantial amount of over 200 crores in 4:05 4 minutes, 5 seconds Q4 last year. And if we exclude that one of item our net interest uh income 4:13 4 minutes, 13 seconds growth would be above 8% in the current year as well. core fee income uh which is has been we have been talking about 4:20 4 minutes, 20 seconds quite quite strongly in our various uh calls uh and and we have been able to prove that the bank is able to now 4:29 4 minutes, 29 seconds generate uh a a consistent growth in the core fee income and we it has come at 4:36 4 minutes, 36 seconds 759 cr and growing at a handsome 22% plus the non-interest income has grown by 13.47%. 4:44 4 minutes, 44 seconds In terms of Q4 numbers, net profit has grown by 34.82% nearly 35%. 4:52 4 minutes, 52 seconds Uh net interest income again while it has uh as per the numbers declared in Q4 last year has shown a tip of 13%. But 5:01 5 minutes, 1 second again as I just explained uh in that oneoff item of Q4 last year uh if I exclude that then the net interest 5:09 5 minutes, 9 seconds income has also on a quarterly basis has increased by over 12.46%. 46%. 5:14 5 minutes, 14 seconds In terms of quarterly numbers, the core income has increased by 28.81% and non-interest income uh was at 427%. 5:24 5 minutes, 24 seconds The asset quality continues to be robust. Uh gross NP has reduced to 2.4% net at 0.79%, 5:31 5 minutes, 31 seconds PCR slightly moderately down at 90.91%, slippage ratio has been at uh 7% and 5:39 5 minutes, 39 seconds credit cost at 06%. The highlights again show that the bank is now growing in all the three segments of the RAM segment. 5:47 5 minutes, 47 seconds The RAM percentage has now touched nearly 50 uh 59%. 5:54 5 minutes, 54 seconds Uh and uh we with a robust growth of retail uh 24 over 24% agriculture over 6:00 6 minutes 23% MSME over 29%. Uh we are our capital ad remains strong yearly cost to income ratio is down at 60.97%. 6:09 6 minutes, 9 seconds The return on assets also continues to yearly increase gradually. Uh and we feel that uh this is in a positive trend 6:18 6 minutes, 18 seconds of the bank in which the uh rate of uh return on assets will continue to uh improve. Uh our kasa retail term deposit 6:26 6 minutes, 26 seconds the liability franchise continues to show robust growth. The RAM percentage advances also show robust uh growth in 6:34 6 minutes, 34 seconds terms of the CASA and retail term repository. If you put them together uh the growth has been 15.48% 6:41 6 minutes, 41 seconds uh in the overall uh scheme of things uh and the other segments are all mentioned there. Our our credit profile 6:50 6 minutes, 50 seconds on external rating wise also you find that uh this time the there were some questions last time regarding the uh 6:57 6 minutes, 57 seconds variance in the AAA rated and the double A rated uh borrower profile. We'll find that there has been increase in the AAA 7:05 7 minutes, 5 seconds rated borrowers to 18.05 05 sequentially uh doubleated has also sequentially improved. So our our our T profile looks very healthy. 7:16 7 minutes, 16 seconds Uh so overall the operating profits continue to show consistent growth. Net interest income shows consistent growth. 7:24 7 minutes, 24 seconds Net profit is showing consistent growth for the last three years. Core in core fee income is growing. And far as 7:31 7 minutes, 31 seconds margins are concerned, uh the net interest margin uh for the the 12-month period was at 2.55. This is an area 7:39 7 minutes, 39 seconds we'll continue to work on because we need to mobilize more and more uh lowc cost uh deposits to fund our uh growth 7:48 7 minutes, 48 seconds story. uh the cost to income ratio has shown increase as I already said return on assets uh from March 24th it was 41 7:58 7 minutes, 58 seconds 25 it was 67 and now it is 79 return on equity is also gradually increasing 8:04 8 minutes, 4 seconds uh business per branch is also uh having good traction 8:12 8 minutes, 12 seconds overall the on the other areas as I said the recovery of upgradation 8:19 8 minutes, 19 seconds continues to also propel the bank towards uh further uh efficiency. Uh the overall recovery and upgradation has 8:27 8 minutes, 27 seconds been nearly 1500 crores. Uh and we are we continue to uh the on this journey the slippages has reduced over the 8:35 8 minutes, 35 seconds period of one year from 8001 crores to 678 crores. So the gross NPA percentage has has gone down from 3.38 to 2.40. 8:45 8 minutes, 45 seconds Net NP has gone down from 0.96 to 79 and recovery in TWW accounts continues to be a focus area. 8:54 8 minutes, 54 seconds Our collection efficiency has moved from 67% in March 22 to 96% in March 26. So that's a big uh improvement that has 9:03 9 minutes, 3 seconds happened in terms of slippages uh on this quarter. I think uh you must have all observed that uh there has been a slight uptick in the overall stripes of 9:11 9 minutes, 11 seconds the quarter ply due to the MSME accounts. uh we find that there was certain residual stress which we had told earlier in the in the agree and the 9:20 9 minutes, 20 seconds MSME segments. So we have recognized those uh those uh uh stress that was there in the MSME segment. However, 9:28 9 minutes, 28 seconds overall the the gross NPA and net NPA numbers uh look uh reasonable. 9:34 9 minutes, 34 seconds Credit cost is uh also very low. The SMA 1 and two of 5 cr is also at a very controlled level. 9:44 9 minutes, 44 seconds Uh we are uh in terms of organizational uh structuring we have uh done few organizational restructuring in the 9:51 9 minutes, 51 seconds current year we have opened three more zonal offices at uh Kolkata 9:59 9 minutes, 59 seconds uh Delhi and Lacno and we we have opened also four more regional offices at Rayur Bangalore 10:08 10 minutes, 8 seconds Shimla and Bhaneshwar and we'll have a much more so that we have much more pan India network. Uh we are increasing our VC network. We are at 3,27 VCs now. 10:20 10 minutes, 20 seconds We'll scale it up uh to more than 4,000 by the end of the current year. 10:26 10 minutes, 26 seconds Uh and various operational uh areas that we have highlighted on in digital enablement in RAM loans have been 10:34 10 minutes, 34 seconds highlighted. Digital transformation new features are getting added. We are adding lot of uh lot of uh investments 10:43 10 minutes, 43 seconds uh into our IT infrastructure and trying to build our uh operational resilience. 10:51 10 minutes, 51 seconds Um and also we have taken out uh specific programs uh for capacity building in the bank through our Navjoti 11:00 11 minutes uh uh phase one and phase two. The phase one has been implemented. Now we are in the phase two. uh phase one consists of 11:07 11 minutes, 7 seconds primarily target setting, performance management uh succession plan extra etc. 11:13 11 minutes, 13 seconds Now we are implementing the phase two of the NUBJI project which primarily uh uh primarily focuses on capacity building 11:22 11 minutes, 22 seconds of our executives and we take out we have taken out a plan of culling out around 125 officers from scale four five 11:30 11 minutes, 30 seconds and six who will be specially groomed uh for the future leadership in the bank. 11:36 11 minutes, 36 seconds So that program is going to be initiated very shortly. 11:40 11 minutes, 40 seconds In terms of our guidance uh whatever we gave last year uh for FY26 uh we could achieve uh most of them. 11:50 11 minutes, 50 seconds However, we just fell short in our net NP and PCR. However, we feel that the current year also uh we'll be able to 11:58 11 minutes, 58 seconds achieve all of them. We for the current year we expect a deposit growth of 13 to 14%. Advances growth of 16 to 18%. RAM 12:07 12 minutes, 7 seconds we expect to cross 60% of the total advances. 12:11 12 minutes, 11 seconds Gross NPA to be below 2%. PCR uh will maintain the last year's level of a guidance 92 to 93. Recovery and 12:21 12 minutes, 21 seconds upgradation will continue to be on a focus. We like to cross 1,000 C this year as well. Credit cost and stage 12:28 12 minutes, 28 seconds ratio should be below 1%. So that's the overall uh u snapshot of the bank's uh performance. Uh I'm over to you uh Mr. 12:39 12 minutes, 39 seconds Ganesh for uh the Q&A. 12:43 12 minutes, 43 seconds Thank you sir. We will now begin the question and answer session. Ladies and gentlemen, we will wait for a moment while the question Q assembles. 12:52 12 minutes, 52 seconds I request the participant to limit their question to two per person and please rejoin the queue for any additional question. Anyone who wishes to ask a 13:01 13 minutes, 1 second question may raise their hand by clicking on the raise hand icon on your WebEx panel. For those who have joined us via audio call and wish to ask question, please press star three assh. 13:13 13 minutes, 13 seconds If anyone is having connectivity or audio issues, you may share your questions on WhatsApp to us at 773868746. 13:22 13 minutes, 22 seconds If I repeat if anyone is having connectivity or audio issues, you may share your question on WhatsApp to us at 73868746. 13:33 13 minutes, 33 seconds Before asking the question, I request you to please introduce yourself and your organization. Uh first question is from the line. 13:45 13 minutes, 45 seconds Shush sir, please go ahead. 13:55 13 minutes, 55 seconds Hello Susha. 14:16 14 minutes, 16 seconds Are you there? Hello sir. Am I audible? 14:28 14 minutes, 28 seconds You can move on I think. Uh sure sir, sure. So next question we have from Ashok sir. 14:35 14 minutes, 35 seconds Hello Ashok sir. 14:48 14 minutes, 48 seconds Are they muted? Yeah, I'm unmuted actually now. Oh, yes. Yes. Okay. Yeah. Good morning. 14:57 14 minutes, 57 seconds Yeah. Yeah. 14:58 14 minutes, 58 seconds Yeah. So, Sazab and the entire team, compliments to you are the the highest net profit of the quarter and the year. 15:08 15 minutes, 8 seconds I think 422 cr for the quarter and 1,322 cr for the whole of the quarter which is 15:14 15 minutes, 14 seconds very heartening to note. And uh what is another point is that you know after a 15:21 15 minutes, 21 seconds long time I mean uh all the targets which you had given you not only uh touch those targets but even uh you know 15:30 15 minutes, 30 seconds you went much beyond that if you look at the advanced specially which I uh the guidance was given at 15 16% and you 15:38 15 minutes, 38 seconds have done 18.29% 29% which is again another creditable point. Even deposit growth in 15:45 15 minutes, 45 seconds this difficult times also is very good for the bank. Ram also you have performed well. Uh so on the whole uh a 15:54 15 minutes, 54 seconds fantastic performance for the quarter in the year sir. 15:57 15 minutes, 57 seconds Thank you. Having said that sir few uh the my first uh rather I would say not a question but 16:04 16 minutes, 4 seconds sort of an observation and also to hear your comments uh is on the ECL guidelines which have been finalized by 16:12 16 minutes, 12 seconds RBI uh that now uh of course the time is very short when you but you have been working on that for a long time every 16:20 16 minutes, 20 seconds bank is working on that. So where where do we stand uh on that uh to meet the ECL 16:29 16 minutes, 29 seconds provisioning and challenges which starts from April 2027. Correct. 16:35 16 minutes, 35 seconds Yeah. Yeah. So uh thank you Mr. AJ for your uh observations of the bank's results. Uh 16:42 16 minutes, 42 seconds we'll continue to re meet your expectations as we move ahead on the ECL framework. The RBI has just taken out 16:50 16 minutes, 50 seconds the guidelines yesterday. Uh as you rightly observe that we have been working on this uh uh on this matter for quite some time in the bank. The 16:58 16 minutes, 58 seconds guidelines final guidelines have just been announced. So we first of all we need to um study that we were all busy 17:06 17 minutes, 6 seconds with the results. So we were not able to really go into the uh uh deeply into the circular so far. However, from the overall scheme of things, my CRO Mr. 17:17 17 minutes, 17 seconds Dhiraj is here. we will take this uh question forward. Uh is that overall we feel that as the uh as the RBI has given 17:26 17 minutes, 26 seconds a room uh to spread the uh to to to implement it and spread the expected uh credit loss over a period of five years. 17:35 17 minutes, 35 seconds I think we we have a we are we are well positioned and and it is going to be uh taken into the uh reserves P and L 17:44 17 minutes, 44 seconds reserves segment. So I think we we are not in a too much of a uh we are more or less in a comfortable situation and we 17:52 17 minutes, 52 seconds may gain somewhere we may lose somewhere overall uh we have to just go through the circular in deep because certain changes they have done on the risk 18:00 18 minutes weight also uh and in totality how where where you have to look into up to 500 crores uh they have uh on the unrated 18:09 18 minutes, 9 seconds part they have also made some changes in a different circular. So overall we have to now uh work together and and uh uh 18:16 18 minutes, 16 seconds and conceptualize the uh the requirement of RBI in the bank based on our legacy accounts. Now I I request Mr. Dh our CRO 18:25 18 minutes, 25 seconds to to clarify anything which you he feels at this point of time. M good morning like you know this circular is very much in line with the draft 18:33 18 minutes, 33 seconds guidelines only and uh like any other bank we also like was preparing for this and overall in a good safe to develop 18:41 18 minutes, 41 seconds the models and all but now since clarity is there so uh uh you know we'll be doing the final 18:48 18 minutes, 48 seconds calculation and all as far as impact is considered since those two circular one is ECL and the other one is uh on our RW 18:55 18 minutes, 55 seconds calculation and all both are coming uh uh will be you know implemented from the same date. So overall impact will be 19:04 19 minutes, 4 seconds easily absorbed and the second is uh around the five years glide path which has been provided. So that will and the entire impact will be on the you know 19:13 19 minutes, 13 seconds capital part only. So overall impact will be not that much actually what we are expecting anywhere between 600 to 800 K to give a number like although not 19:22 19 minutes, 22 seconds right to give a number at this point of time since my uh numbers are yet to be calculated but uh overall what I'm saying over a five of time this is quite 19:30 19 minutes, 30 seconds uh comfortable and we can easily absorb it and over a period of time since my credit quality also have improved significantly so my PD number also will 19:39 19 minutes, 39 seconds uh come down uh has come down drastically so then this will help me in reducing my overall ECL impact. So da 19:47 19 minutes, 47 seconds sir I mean when you say 6 to 800 cr will be the impact you have you built up already some cushion in the pool so that 19:55 19 minutes, 55 seconds you can take it in one go or you are going to spread and when you say five years is it five year it is only up to 31st March 2030 20:04 20 minutes, 4 seconds no 2031 till 2031 from 27 to uh from 30 this is eir applicability of effective 20:11 20 minutes, 11 seconds interest rate I'll go through again since you have raised this question 30 or 31 but till 31 I I think it is there and uh EC that EI application is from uh 20:20 20 minutes, 20 seconds 2030 from 1st April 2030 but again we'll go through it since it has come and yes yes yes and how much we already have 20:28 20 minutes, 28 seconds the the cushion or the buffer against this expected loss like since it has to happen through 20:36 20 minutes, 36 seconds capital only. So you know even if like 6 700 800 K also even if the impact it can be easily absorbed like around 200 K 20:44 20 minutes, 44 seconds will be the impact on even if it is you know uh 800 to around 160 K will be the impact it can be easily absorbed in the 20:52 20 minutes, 52 seconds this like from the bank's capital buffer itself. 20:56 20 minutes, 56 seconds So our capital adequacy will not be impacted much you know impacted much will not be impacted much. Uh no thanks 21:03 21 minutes, 3 seconds for clarifying this and we will have further discussions now going on because still four five banks results are still left and I think we will have a chance 21:12 21 minutes, 12 seconds to discuss with the management. Uh sir on this slippage front in this quarter 21:19 21 minutes, 19 seconds Sada which increased to 355 cr against to 168 cr in the last quarter but at the 21:26 21 minutes, 26 seconds same time the SMA 2 569 cr has gone down to 96 cr only and SMA 1 has little bit 21:34 21 minutes, 34 seconds increased to 515 crores. So the whole combination what color it gives? Uh these slippages are because of 21:43 21 minutes, 43 seconds some account from 2 to NPA or you know the miscellaneous small amounts 21:51 21 minutes, 51 seconds which were already like were taken in consideration. Yeah, I think uh I as I was making in my opening remarks uh in 22:00 22 minutes terms of the slippages this quarter uh these uh I had told uh in this various interactions in this concourse has been 22:08 22 minutes, 8 seconds that that while the overall asset quality uh continues to improve and become healthy for the bank in terms of corporate segments and the retail 22:15 22 minutes, 15 seconds segment there is still some residual uh uh stress in the agriculture and the MSME and MSME is a product direct 22:23 22 minutes, 23 seconds product of various developments in the economy. of the country the global situations that happen and it directly 22:30 22 minutes, 30 seconds impacts the uh the small MSME. So uh it is only is not a matter of concern for us at this point of time because our collection efficiency is very robust. 22:39 22 minutes, 39 seconds These are some of the weak accounts which we thought let us recognize it uh and move ahead uh going forward. But in 22:46 22 minutes, 46 seconds view of the in view of the certain uh developments on the national and the international front on the economic side we need to be alert on on this on the 22:55 22 minutes, 55 seconds MSME segment uh uh the stress that may build up in the MSME segment in the in the future but as of now we don't 23:03 23 minutes, 3 seconds foresee any grave challenge it could be it is just that we thought instead of uh carrying on with the uh with with the 23:11 23 minutes, 11 seconds the stress let us uh as for thems whatever uh was need to needed to be downloaded, we have downloaded them and 23:20 23 minutes, 20 seconds we will move ahead. In terms of the SMA uh yes, if you find the overall number of SMA plus SMA uh one and SMA 2 about 5 23:30 23 minutes, 30 seconds cr, if you will find that in the December quarter say March 26 quarter May, it has significantly come down. uh 23:39 23 minutes, 39 seconds as I told earlier also uh these numbers are uh look in inflated for the bank in view of the two uh state government 23:47 23 minutes, 47 seconds guaranteed state government account. So it goes from one place to another place but one good part if you overall see is 23:54 23 minutes, 54 seconds that uh the the those accounts continue to be serviced well there is no issue there they may slip in zero or one and 24:01 24 minutes, 1 second two and again move into a cycle. So the SMA2 this important part SMA 2 uh has 24:08 24 minutes, 8 seconds come down significantly and the SMA uh one which was one state government account that also has clear its dues in 24:16 24 minutes, 16 seconds the course of April. So uh these things will continue to happen but we don't foresee any inherent uh uh potential for 24:25 24 minutes, 25 seconds account getting slipped because they are they're serviced they are servicing uh in terms of the circumstances and because of state government guarantee 24:32 24 minutes, 32 seconds available. So overall my SMA book uh which was at one point of time I'm taking the total book uh which was over 24:41 24 minutes, 41 seconds 9% at one point of time and now we are hovering around 4.21% including these two state government guaranteed 24:49 24 minutes, 49 seconds accounts. So if I leave out that two state government guaranteed accounts my uh SMA would be around about 3%. And 24:59 24 minutes, 59 seconds that's a a pretty good number for the bank to have. But we need to be alert. 25:03 25 minutes, 3 seconds We need to continue our efforts to uh to improve our collection efficiency particularly in the agree and the MSM set. 25:12 25 minutes, 12 seconds Sir one uh on the NIM side you know the continuous quarter on quarter 25:19 25 minutes, 19 seconds there is a reduction though the overall NIM for the year is 2.55 which is also lower as compared to the and and I 25:27 25 minutes, 27 seconds understand there is a pressure on NIP but going forward uh uh what do you 25:33 25 minutes, 33 seconds think I mean what what what are the uh plans you know to take the NIM little 25:40 25 minutes, 40 seconds higher from the current levels. Uh how do we Yeah. 25:45 25 minutes, 45 seconds Like like we are conscious of this. Get it mixed or Yeah. 25:49 25 minutes, 49 seconds Yeah. We are conscious of this. The bank has a historic name low name of a low kasa because of lowa and the and the fluctuations of the of 25:57 25 minutes, 57 seconds the repo rate also has uh has impacted it. But uh we feel that now uh we have absorbed the entire cycle of the repo 26:06 26 minutes, 6 seconds cut of 125 bips and we are we have taken various steps to improve our lending in 26:12 26 minutes, 12 seconds the uh high yielding uh side uh particularly in the agree MSME segment. 26:19 26 minutes, 19 seconds In the corporate side also we have been selective in terms of choosing our uh asset uh and the pricing has been very 26:26 26 minutes, 26 seconds very uh very very uh plays a very important role you know what we do. So we and also we say that we also churn 26:34 26 minutes, 34 seconds our balance sheet portfolio trade portfolio among the AAA's double A's and A we get good uh we doing a good robust 26:42 26 minutes, 42 seconds coending uh uh uh we have a good robust coending platform over 10,000 crores that gives us good yields but it will 26:50 26 minutes, 50 seconds take a gradual uh progression will happen. So overall we feel that by the end of the current year we should be 26:57 26 minutes, 57 seconds touching 2.65 65 to 2.70 uh in terms of the name. So we are we are moving in that direction and we'll 27:04 27 minutes, 4 seconds move and we expect that with the uh retail agreements MSME percentage going up further and with no imminent uh 27:14 27 minutes, 14 seconds visible uh rate cut scenario uh that is on the cards hopefully hopefully uh we feel 27:23 27 minutes, 23 seconds that the the now the cycle will move on the uh means in terms of our income it'll move on the upward direction and the same will happen in the treasury 27:31 27 minutes, 31 seconds also So I think this also will start generating better profits. 27:34 27 minutes, 34 seconds Yes. Yes. You have observed that the yield movement has impacted many banks balance sheets. Yes. 27:39 27 minutes, 39 seconds And we hope that as the Gulf situation improves uh we will have a favorable ride back in that area. But we keep our fingers crossed in that area. 27:49 27 minutes, 49 seconds But this geopolitical I mean the station I mean this war has so far not 27:55 27 minutes, 55 seconds been seen visible on our portfolios any impact. No, not not really not really. I think government is much aware of this. 28:03 28 minutes, 3 seconds They're going to sectorally they are handling it. We make they will be I think working on some some packages for 28:10 28 minutes, 10 seconds for various segments. Uh but as of now in our portfolio yeah small MSMES will 28:17 28 minutes, 17 seconds get impacted if this lingers on a bit more than than normal that that we feel that can happen. We're not having too 28:24 28 minutes, 24 seconds much of forex business. So from that part we are a bit immune uh on the impact but overall MSMES if in the long 28:33 28 minutes, 33 seconds run this continues to uh continues to happen and without any plausible solution there could be some futuristic cash flow impact on the MSMES. 28:44 28 minutes, 44 seconds Okay sir thank you all the best to you sir we will again have some chance to discuss it further. 28:52 28 minutes, 52 seconds Yeah. Thank you. Thank you Ashok. 28:58 28 minutes, 58 seconds Next question we have from Shushil, sir. Yes. Yes. 29:07 29 minutes, 7 seconds Yeah. Yeah. Please. Yeah. Good morning. 29:09 29 minutes, 9 seconds Good morning. Uh team Punjabs Bank for a very stable and well-guided management team has taken good pains to stabilize. 29:17 29 minutes, 17 seconds Sir, you've strengthened your human resource. You've strengthened your HR processes. 29:24 29 minutes, 24 seconds You've done well on digital to expand the footprint and otherwise and even on 29:31 29 minutes, 31 seconds working process your growth but global challenges are going to emerge from 29:38 29 minutes, 38 seconds where MSME and retail is concerned because income levels are going to be hit. So how is the April visibility in 29:47 29 minutes, 47 seconds terms of bounce rate uh new sanctions uh because you have guided for RAM at 29:54 29 minutes, 54 seconds 60%. specifically and foreign inflows also have stopped where individual markets are concerned. 30:04 30 minutes, 4 seconds Yeah, I think that's a fair fair ask ask that Mr. is asking and uh from that perspective as I said to Mr. 30:13 30 minutes, 13 seconds question is that while uh we have done we have taken various uh steps to 30:20 30 minutes, 20 seconds improve our efficiency levels uh the global situations the hangover of the global situations will will continue to 30:27 30 minutes, 27 seconds impact uh the Indian uh banking system or the ecosystem we need to be alert we need to set benchmarks uh uh within the 30:37 30 minutes, 37 seconds bank in terms of uh customer on boarding our business rule engines for the digital segment needs to maybe maybe 30:44 30 minutes, 44 seconds further relooked into. Uh and overall uh there is no room for complacency in terms of while the while the going is 30:53 30 minutes, 53 seconds good uh we should create proper mitigance uh in uh in our journey. uh so 31:00 31 minutes that in any circumstance if if a circumstance arises uh in terms of any uh severe impact of 31:08 31 minutes, 8 seconds the into the global situation we should be able to uh be resilient enough to to 31:15 31 minutes, 15 seconds handle that situation. As of now uh what I can uh at this point what we foresee 31:22 31 minutes, 22 seconds is that uh we expect the resolution in the global situation will be happen in a course of time that it has its own uh 31:31 31 minutes, 31 seconds trajectory but it will happen and if it happens in a short period then things will get uh again back to normal in 31:39 31 minutes, 39 seconds terms of certain though there will be a short-term impact somewhere uh so we'll keep ourselves alert we'll 31:45 31 minutes, 45 seconds work on the ground we We'll keep our uh field functionaries uh alert that and keep in touch with the customers if they 31:53 31 minutes, 53 seconds find any inherent weakness building up uh in them and that's how uh we will continue to monitor uh aggressively. Uh 32:03 32 minutes, 3 seconds we'll we'll also be a bit more uh strong in our onboarding processes on our 32:11 32 minutes, 11 seconds underwriting processes uh that will happen. So overall and in terms of yes that what you said that regarding the uh 32:20 32 minutes, 20 seconds trajectory of the new sanctions I think uh we are trajectory shows that MSME is still going pretty strong in our 32:28 32 minutes, 28 seconds sanction rate. Retail is also going very strongly over 25%. So the sanctions continue to happen. In fact last year if 32:37 32 minutes, 37 seconds you see I forgot to mention that in the food and agro segment there are also uh we did lot of work last year on the 32:44 32 minutes, 44 seconds agriculture front and uh in our I think you have shown it in one of the slides that the food and agro uh has grown 32:53 32 minutes, 53 seconds significantly uh in compared to last year so uh farm credit etc. So I think 33:00 33 minutes uh we'll spread out uh risk among the three segments and build build strong measures but as of now we feel that uh 33:08 33 minutes, 8 seconds with and one more thing on the structural side if you see we have also now decentralized some of 33:16 33 minutes, 16 seconds our big zones that we had uh like we have carved out new now we call them 33:24 33 minutes, 24 seconds regions of course we have carved out a new regional office in Raipur it covered at a region office in Bangalore, 33:31 33 minutes, 31 seconds Bhuvaneshwar, Shimla. So what brings to the table is this that uh they become much more decentralized control on the 33:39 33 minutes, 39 seconds branch network on the customers which will help the bank to be more efficient to be more uh cost effective. Uh that's all we will we will continue to pursue. 33:50 33 minutes, 50 seconds Sir then what is your digital spend? 33:53 33 minutes, 53 seconds What is unavail credit sanctioned up to current date? You said retail uh RAM is still looking specifically MSM is 34:02 34 minutes, 2 seconds looking 25% uptick. Is it because of reassessment due to various raw 34:08 34 minutes, 8 seconds materials spiked by 30 to 50%. Or it is existing limit and existing customers which are asking more limits. 34:18 34 minutes, 18 seconds Yeah, it's a it's a mixed bag. So far we getting lot of leads. We are as of as of the pipeline on the credit side on the corporate side we are around around 34:26 34 minutes, 26 seconds 18,000 uh uh on the corporate side and if you see the last time when we discussed I think we talked around 10 34:33 34 minutes, 33 seconds 12,000 so the pipeline is now increasing pipeline is increasing various segments pipeline is increasing in logistics like 34:41 34 minutes, 41 seconds data centers etc uh pip uh on the on the infrastructure projects LRDS on on on these are the pipeline 34:50 34 minutes, 50 seconds that is increasing on the overall uh retail agree MSME segment. I think new as we go more and 34:59 34 minutes, 59 seconds more digital as we go more and more uh efficient way of delivery I think there is still space in the market uh to to 35:08 35 minutes, 8 seconds garner more and more uh these sort of advances uh in the market. So it is a mixed bag uh for for all of us to work 35:17 35 minutes, 17 seconds on renewables also we are getting uh uh good leads uh we are working on that. So 35:24 35 minutes, 24 seconds overall things are uh looking on the credit cycle as far as our bank is concerned uh and our appetite is 35:31 35 minutes, 31 seconds concerned uh we feel that we have enough room to grow at a rate that we have just 35:36 35 minutes, 36 seconds uh uh projected around 16 to 18%. So as on today you don't see meeting your 35:43 35 minutes, 43 seconds targets which you have announced. Uh meeting them seems a challenge. Sorry I didn't get you. 35:50 35 minutes, 50 seconds Mean deposit of 1314 advance at 1618 RAM at 60% gross NPA at two. You don't see a challenge in any of these? 35:59 35 minutes, 59 seconds No. No not at all. Not at all. Yeah. On the b the bottom line answer is no. Sir, if I ask you other way around, what are 36:06 36 minutes, 6 seconds the three things which you would like to do differently than what you've done in last three years which would strengthen the bank? 36:15 36 minutes, 15 seconds See uh there that's that's a that requires a bit of time to answer but anyway to be on a pointer I think we need to uh as we 36:24 36 minutes, 24 seconds have already said uh in our various communication our operational resilience has to improve over first of all the the 36:32 36 minutes, 32 seconds the threats that are coming uh the media reports that are coming in in various ways uh the new threat of anthropic 36:41 36 minutes, 41 seconds uh is also being playing out in its own today. So and and the the dangers of 36:47 36 minutes, 47 seconds mule accounts, digital arrests and ALM money laundering so many things are coming up in a different mode this 36:55 36 minutes, 55 seconds nowadays. So the first and foremost thing as a financial institution is concerned is that I think the operational resilience has to uh be uh 37:04 37 minutes, 4 seconds up upgraded in a large way and that's we have brought in lot of we have given some slides in the presentation that 37:11 37 minutes, 11 seconds that can be looked into and so in terms of while we are taking lot of care on the cyber front the uh resilence operation center will be implementing 37:20 37 minutes, 20 seconds another 3 four months time that will give a lot of visibility and and cyber security that's number one Number two, 37:27 37 minutes, 27 seconds we need we still need to work very strongly on the on the our branch uh uh network and and expanding in the areas 37:36 37 minutes, 36 seconds by by culling out areas by by data points uh where we can expand much more productively. uh we have engaged a 37:45 37 minutes, 45 seconds global consultant to identify locations across the country where we are presently there or we are un or less 37:52 37 minutes, 52 seconds present and therefore we will uh identify the pockets uh where we will uh need to expand and which will 38:01 38 minutes, 1 second give us uh much more organically and and on a pandemic basis so that the it is the growth has to be on a on a 38:09 38 minutes, 9 seconds sustainable basis. Thirdly, our we have to work on on our uh digital 38:17 38 minutes, 17 seconds transformation. Uh we are we are now the board has approved for to go ahead with the the next round of digital transformation in the bank. That is an 38:26 38 minutes, 26 seconds area which uh we'd like to complete in this financial year. Uh we'd like to launch the unique 2.0 by the end of the 38:33 38 minutes, 33 seconds financial year. uh which will have all the features of value added features which any bank is providing to any uh 38:42 38 minutes, 42 seconds customer that will uh enhance the customer experience uh and also uh bring 38:50 38 minutes, 50 seconds in uh fresh uh acquisition opportunities for the bank in terms of the competitiveness in the deposit world. So 38:58 38 minutes, 58 seconds uh expansion, digital transformation, operation resilience, there are some more but as you asked three so I just pointed out three of them. 39:07 39 minutes, 7 seconds So what is the budget for uh AI, cyber and digital footprint and the new road 39:15 39 minutes, 15 seconds map for vision version two uh budgets? Rat G do you have the numbers now or we can we are increasing 39:24 39 minutes, 24 seconds around 2x our uh budget but the exact number we will provide to you separately. 39:31 39 minutes, 31 seconds So I'll come back in queue if there are further questions. Thank you for answering all my questions and all the best. 39:37 39 minutes, 37 seconds Thank you sir. Next question we have from Brides Mangi. 39:49 39 minutes, 49 seconds Yeah. Hi, very good afternoon Punjab Singh team. Good afternoon. 39:54 39 minutes, 54 seconds Yeah. So, uh my first question is sir, what are the key drivers for growth in the gold portfolio in the coming quarter? 40:05 40 minutes, 5 seconds Hello. Am I audible to you? Yeah. Yeah. Yeah. Yes. Yes. Yes. Any other question you have? 40:12 40 minutes, 12 seconds Okay. So, what are the benefits are you seeing from investments in CRM automation and chat boxes? 40:19 40 minutes, 19 seconds Yeah. 40:24 40 minutes, 24 seconds Yeah. So, uh uh in in the gold the key drivers of course we we have now working on the both organic inorganic we have 40:33 40 minutes, 33 seconds doing lot of uh organic growth identified branches uh for for which can do gold loans. We have created specific 40:40 40 minutes, 40 seconds SOPs, revised our SOPs, revised our guidelines so that while the portfolio is increasing, we don't uh our our our 40:48 40 minutes, 48 seconds risk uh absorption appetites are also worked accordingly and and it will be we'll we'll also do 40:57 40 minutes, 57 seconds our network through our branch network and also through uh through the NBFC's collanding model. So we will work on 41:05 41 minutes, 5 seconds that both on the agree and the non-aggree part. 41:08 41 minutes, 8 seconds And if you find that the key driver uh one of the question would be answer would be that organically also we are growing 41:17 41 minutes, 17 seconds over 100% in the cold loan portfolio. So we'll have a mixed bank both organic and through the cold lending. The second 41:24 41 minutes, 24 seconds question that you had uh regarding the CRM we have just established the CRM model uh the chatboards. These are all 41:32 41 minutes, 32 seconds uh uh in today's scenario a basic necessity in terms of customer experience. We feel that uh we have 41:39 41 minutes, 39 seconds already started feeling getting the benefits of this CRM. We have created a se uh a specific lead management cell uh 41:48 41 minutes, 48 seconds within the bank. We have also created a marketing vertical vertical within the bank. It's a new vertical uh that we 41:55 41 minutes, 55 seconds have put in. So overall uh the this the leads that are being generated through various uh methods are 42:04 42 minutes, 4 seconds getting captured in a very professional manner very uh very systemic manner and the the leads that are going to the 42:11 42 minutes, 11 seconds branches uh or the other offices are worked are followed up to their logical end uh through the specialized verticals. As far as the chatbots etc. 42:22 42 minutes, 22 seconds these are customerf facing uh models that we have implemented it reduces the 42:29 42 minutes, 29 seconds uh it reduces the pressure on the call center at the back end. Many of the information that are provided to the customer through the chatbot on the 42:37 42 minutes, 37 seconds website uh helps them to to interact with the bank in a in in a much more uh 42:45 42 minutes, 45 seconds uh modernized manner and efficient manner. So the benefits are multiple uh and as we as and as we go along in the 42:53 42 minutes, 53 seconds we have just implemented last year uh we have stabilized the entire process. Now I think we will be able to uh go ahead and take the benefits out of them. 43:05 43 minutes, 5 seconds Okay noted sir. Thank you. Have a nice day. Thank you Mr. Bes. 43:08 43 minutes, 8 seconds Thank you sir. Next question we have from Sushil sir. 43:17 43 minutes, 17 seconds Sushil please go ahead. 43:20 43 minutes, 20 seconds Uh sir we are focusing on our RAM. Can we assess how many builder tabs we've 43:27 43 minutes, 27 seconds done in NCR and the regions where we are strengthened. How many auto tieups, tractor tie-ups, EV manufacturers tie 43:34 43 minutes, 34 seconds up? What what how are we focusing on the portfolio which is more profitable? You may have more share from a wallet of 43:43 43 minutes, 43 seconds individual customer in terms of various products. How many such types of co-ending partnership you have done that we can strengthen our processes? 43:53 43 minutes, 53 seconds Yeah, good morning Fox Chi sir. 43:56 43 minutes, 56 seconds Good afternoon sir. Sir uh sir somewhere around 85 types have been done for the housing builders during the last 44:03 44 minutes, 3 seconds financial year and as far as the coal partners are concerned around 11 partners are there as of now and with regard to the vehicle tie-ups we have 44:11 44 minutes, 11 seconds done with Mahindra and Marauti and we also looking for going forward for Mundai as well Mundai and Toyota 44:21 44 minutes, 21 seconds and in two wheelers sir or we are not doing two wheelers two wheelers basically we we do sanction but we don't IFSH 44:29 44 minutes, 29 seconds second we can what can I can add here is that now we have have the digital product on the secondhand uh second secondand vehicles which is which is the 44:37 44 minutes, 37 seconds expect to give us returns so we'll be tying up with this uh to this uh agencies market true value market true value etc I think three four 44:45 44 minutes, 45 seconds agencies are there uh which are there car 24 pini so these are in the pipeline now 44:53 44 minutes, 53 seconds so how how large is the portfolio on secondhand vehicles because it's more lucrative than normal cars, new car 45:01 45 minutes, 1 second financing and what is the growth visibility in that sector? 45:05 45 minutes, 5 seconds Well, we're just commencing our journey in this. It is not much nothing to be too much of a figure at this point but so but we have now devised the digital 45:14 45 minutes, 14 seconds journey for that. I think that was important for us to before we launch the product in a in a bigger way. As of now, I don't think it is too much of a 45:23 45 minutes, 23 seconds traction, but with this new digital method of uh lending on this segment, I think we'll get a good portfolio. 45:33 45 minutes, 33 seconds Thank you for answering my questions. Thank you, Mr. Shush. Thank you. 45:37 45 minutes, 37 seconds Thank you. Thank you, sir. Next question we have from Ashok Sa. 45:44 45 minutes, 44 seconds Ashok sir, please go ahead. Yeah. Thanks for this opportunity again. 45:51 45 minutes, 51 seconds Uh sir, now since uh uh we have broken the taboo that uh of little lesser 46:00 46 minutes growing bank and this thing and now we have in fact outperformed on every front. I mean going to even especially 46:08 46 minutes, 8 seconds on the uh even the deposit franchise deposit front also and but our perennial 46:15 46 minutes, 15 seconds you know basic problem has been lower kasa and that is resulting in the lower nim in spite of building our book well 46:25 46 minutes, 25 seconds uh so sir I mean going forward and being a bank which is I mean so strong now uh 46:33 46 minutes, 33 seconds if you just forget about the numbers the overall size that the bank can deliver anything and everything which any other 46:42 46 minutes, 42 seconds uh public sector bank or any other commercial bank is giving. So on the pan India basis 46:49 46 minutes, 49 seconds and uh can we do something something radical to to reach out to the people 46:57 46 minutes, 57 seconds across the country? uh what are our I mean is there any thought 47:03 47 minutes, 3 seconds what are our uh plans on this uh going forward that you know like okay now since we are already in the 18 20% 47:12 47 minutes, 12 seconds growth zone why don't we plan for next 2 three years because base is low so 47:20 47 minutes, 20 seconds little higher uh growth in absolute uh numbers so is there any strategy to bring up the overall business of the bank going forward. 47:32 47 minutes, 32 seconds Yeah, I I appreciate your your point uh is that regarding the uh the a bit of more faster growth if possible and 47:40 47 minutes, 40 seconds whether the bank is uh is in working in that direction. First of all, let me uh 47:48 47 minutes, 48 seconds give our observation on this. While growth is essential, growth has to be qualitative 47:55 47 minutes, 55 seconds and therefore it has to be it has to be uh much more we we are building organization which will last for for for a longer period from that perspective. 48:07 48 minutes, 7 seconds So while the ask of of a a higher um delta growth is is what is all we aspire 48:15 48 minutes, 15 seconds for, let us also uh look into every bank has its own legacy. Every bank has its 48:22 48 minutes, 22 seconds own uh way of doing things. Every bank has its own uh network channels and and 48:29 48 minutes, 29 seconds it strengths and weaknesses. So what the basic point was that if you find if you see we have put in a slide uh in the in 48:38 48 minutes, 38 seconds the presentation where we have given a comparison of how the bank was growing in one period of time and how the bank 48:46 48 minutes, 46 seconds is growing over the last few years. You will find the difference. Now it is 48:52 48 minutes, 52 seconds better to move uh uh steadily, steadfastly, organically 49:01 49 minutes, 1 second and structurally strong you know in a structurally strong manner. That is the first part of the uh your observation. 49:09 49 minutes, 9 seconds The second part what are we doing? The second part is exactly if you see and these things that are happening if you 49:17 49 minutes, 17 seconds see comparison of five years now and five years earlier it it cannot come in uh without our teams getting mobilized 49:25 49 minutes, 25 seconds better our our systems getting robust etc. So there is some effort that has gone there. In terms of macro numbers, 49:32 49 minutes, 32 seconds I'll say that we intend to achieve three lakh cr by uh the current financial year. That's our aspiration figure. We have taken a 49:40 49 minutes, 40 seconds board approval to achieve four lakh cr by financial year FY29. 49:44 49 minutes, 44 seconds That means we need to add around 50,000 crores in the next two years, three years per year. 50,000 crores per year. 49:51 49 minutes, 51 seconds So overall the aspiration is to reach 4 lakh cr and we have uh devised a a strategic road map for achieving those 50:00 50 minutes uh those uh uh numbers and therefore we feel that we are in the right track now 50:06 50 minutes, 6 seconds where should we push further that's a internal assessment that we will take at an appropriate time but I don't think 50:14 50 minutes, 14 seconds that is required it is better to grow uh in a in a structurally structured and a solid manner 50:21 50 minutes, 21 seconds uh without uh compromising on any other areas of of governance standards right and therefore if you see 50:30 50 minutes, 30 seconds the various we have now organizational restructuring we have done in terms of strategy what are the strategies that you have taken to grow faster in that 50:37 50 minutes, 37 seconds way faster means when I say faster means qualitatively faster so restructuring we have done in terms of the organization we have now created a four tier 50:45 50 minutes, 45 seconds structure across the bank we are four five zonal office where GMs are heading that we have new general offices uh 50:54 50 minutes, 54 seconds regional offices created now we have 33 regional offices we are expanding uh uh in terms of branch network across the 51:02 51 minutes, 2 seconds country we have planned to 200 branches we have created marketing vertical uh in the bank we have now introduced tab 51:10 51 minutes, 10 seconds banking for customer acquisition CRM for lead generation we are leveraging on our digital uh initiatives 51:19 51 minutes, 19 seconds And more importantly, we are now very very strongly monitoring our branch wise productivity. 51:29 51 minutes, 29 seconds That is a area where we will will like to work in the current year. Our business per branch is around 158 crores 51:38 51 minutes, 38 seconds which is increasing but it is still much below the average of the industry. So we are now working on branch rationalization. How do we improve our branch productivity across the bank? 51:49 51 minutes, 49 seconds Open new branches with substantial business. We have engaged a global consultant to identify the locations for us. We are creating lot of products. We 51:58 51 minutes, 58 seconds have got new central connect products for salary employees for salary accounts. Now we'll expand that central government package to the state 52:06 52 minutes, 6 seconds government and other PSU employees. So we have a definite plan to 52:13 52 minutes, 13 seconds uh to to to take up uh to achieve those goalposts that uh uh that we have in this and we have of course I've missed 52:20 52 minutes, 20 seconds out in our as a very important development on the gift city. 52:25 52 minutes, 25 seconds We have got the RBI approval. I I sorry I missed out in my earlier celebration. 52:29 52 minutes, 29 seconds The gift city is very important for the bank. We expect to launch it by October this year. We have got the uh space also 52:37 52 minutes, 37 seconds some one or two more approvals are required staff has been identified and to put in they're going to join uh that area uh in this week the entire staff 52:46 52 minutes, 46 seconds has been uh mobilized the uh the premises have been finalized some approvals are need to be taken the IT 52:54 52 minutes, 54 seconds systems are getting uh ready so that again will give a gift a good philip to our business strate strategic growth to achieve that four lakh cr uh by 29. 53:05 53 minutes, 5 seconds Thank you. 53:07 53 minutes, 7 seconds No sir, it's a very encouraging. I mean that's what I wanted to hear a four lakh cr bank by 2930 and maybe five lakhs 53:16 53 minutes, 16 seconds immediately the next year thereafter. So that's what exactly uh is required you know to reach a a something you know 53:24 53 minutes, 24 seconds like a critical mass so that from there then there is no stoppage uh to do anything which you want to do and this 53:31 53 minutes, 31 seconds give city thing is yes definitely I think many of the other banks have also adopted and it is yielding good results. 53:38 53 minutes, 38 seconds Uh so sir when the question comes on that then the the main question comes up about the the manpower and the training 53:45 53 minutes, 45 seconds training training and training uh for the working day-to-day working training on the advanced credit side liability 53:52 53 minutes, 52 seconds side training for mainly the compliance side which is also a very big uh now 53:58 53 minutes, 58 seconds issue these days. So many of those banks have you cowed out this training part from the HR. Uh is 54:08 54 minutes, 8 seconds there any thing has been done like learning and development a separate vertical uh where the the major emphasis 54:16 54 minutes, 16 seconds given on the ongoing training to the to the staff the new recruits and especially so many new provisions are 54:24 54 minutes, 24 seconds coming legal things are coming compliance things are coming. So what are we doing on that front sir? there because I'm little not much aware about that happening in our bank. 54:35 54 minutes, 35 seconds Yeah, I think uh we we of course adopt best practices in any way anything that happens in any segment of a bank 54:42 54 minutes, 42 seconds governance and capacity building is is very important as you rightly said. So having understood this that's why we launched this noji project. uh BCG is 54:51 54 minutes, 51 seconds advising us on this and uh we uh in in the first part of the project we we implemented the target setting 54:59 54 minutes, 59 seconds succession plan uh performance manage system uh tool- based assessments so many things that we have implemented 55:06 55 minutes, 6 seconds which will which is which will give much more uh uh flip to the uh staff members to work on their target achievements 55:14 55 minutes, 14 seconds etc. Number two, this year the Nabji part two is only only on skill development 55:22 55 minutes, 22 seconds and that is exactly what we are doing uh through the through the BCG game uh where where they have worked with all the banks uh most of the nearly all the 55:31 55 minutes, 31 seconds banks in this area. So we are getting the best of the best practices which are getting implemented and the and as you 55:39 55 minutes, 39 seconds rightly said that uh learning is a continuous process and the new new threats that are evolving new operational guidelines that are coming 55:47 55 minutes, 47 seconds we have to remain updated. So we have we are taking out in multiple fronts uh at the junior level regular we have now 55:55 55 minutes, 55 seconds opened a new center of excellence I missed out that also we have opened a second training college in Chundigar it's a state-of-the-art uh training 56:03 56 minutes, 3 seconds college that we have opened in Chundigar because we have a significant presence in Punjab so we thought that uh let us have a good setup in that it is a 56:12 56 minutes, 12 seconds state-of-the-art uh uh that we have created uh excellent center that we have created And so that we'll have two training 56:21 56 minutes, 21 seconds colleges. We are also tied up with various other NIPScon Noa with other big uh management institutes, MDIS, IM, SBI 56:30 56 minutes, 30 seconds academy, all the other big banks, academies. So we are using that plat those platforms to send our our people 56:37 56 minutes, 37 seconds and the new dimension that we have brought this year in our skill development is that we will we have we 56:45 56 minutes, 45 seconds have we'll be identifying and we have identified 125 officers through a process 56:53 56 minutes, 53 seconds uh at the four scale four chief manager five and six levels who will be given 57:00 57 minutes specific trainings on the various this uh events that are are required to groom 57:07 57 minutes, 7 seconds them as future leaders of the band. Uh they'll be given personal coaching also. 57:13 57 minutes, 13 seconds Coaches will be will be provided individually to the these each of the 125 participants and they will get a a a 57:22 57 minutes, 22 seconds flavor favor a flavor of how personal grooming is also personal uh enhancement is also important while you do executive 57:30 57 minutes, 30 seconds stuff. executive uh delivery. So a very very uh professional way of doing things. We are also we identifying 57:39 57 minutes, 39 seconds people which we send abroad. We send good uh who have performed well to encourage them to to good trainings abroad and we'll continue in multiple 57:48 57 minutes, 48 seconds fronts. As far as creating a separate vertical is concerned we'll take that call at an appropriate time. We feel that at the present juncture in our 57:56 57 minutes, 56 seconds setup our within the HR it is good enough. I think there's a good setup in the within the HR on learning and 58:02 58 minutes, 2 seconds vertical on learning and development. I think that is good enough for us. 58:06 58 minutes, 6 seconds Whether we need to segregated from HR will take an appropriate time. So bottom line is this that uh this is an area 58:14 58 minutes, 14 seconds which we will we have identified as a as a very key priority for uh for the bank and an HR transformation exercise and 58:23 58 minutes, 23 seconds that's why getting carried out in the bank uh and we'll get and this will be a continuous process that will continue to happen. 58:34 58 minutes, 34 seconds Thank you sir. 58:37 58 minutes, 37 seconds Thank you everyone. As there are no further questions from the participants, we now conclude this conference. Should you have any further queries, please 58:45 58 minutes, 45 seconds reach out to Mr. Ganeshand at 73868746 or at Ganeshtheconpr.com. 58:54 58 minutes, 54 seconds Details are mentioned in WebEx chat and the analyst invitation sent to you earlier. On behalf of Punjab and Synind Bank, I thank you each one of you for 59:02 59 minutes, 2 seconds joining the conference call today. You may now disconnect your lines. Thank you. Have a good day. 59:08 59 minutes, 8 seconds Thank you. Thank you, Mr. Garish. Thank you all for joining. Thank you very much.