As it is, she will go to the bank. We can start. Thank you, sir. Good evening, ladies and gentlemen. A very warm welcome to today's analyst meet of Bank of India's quarter two results for financial year 2024-25, which is being conducted in a hybrid mode to attend physically as well as virtually by our analysts. I would like to thank you all for taking out time and joining us today. We have with us our top management, led by our executive director and CEO, Shri Rajneesh Karnatak. Joining him on the dais are our executive directors, Shri P.R. Rajagopal, Shri M. Karthikeyan, Shri Subrat Kumar, and Shri Rajiv Mishra. I would now request our MD and CEO, Sir Shri Rajneesh Karnatak, to address our analysts to begin with. Thank you, madam. Thank you so much. First of all, good afternoon to all the dignitaries present here, ladies and gentlemen present today in the analyst meet. It is my pleasure to welcome you all for this interaction post-publication of the financial results of the bank for Q2 of FY 2025. The strong macroeconomic and fiscal indicators of the economy, coupled with the improved investment, controlled inflation, comfortable foreign exchange reserves exhibited positive sentiments and stability, preparing the ground for India to become the world's third largest economy by 2027 and a developed nation by 2047. Against this backdrop, the bank is playing a pivotal role in fueling the country's growth trajectory. The YoY credit growth of our bank was 14.51%. The major drivers of growth will be the customer-centric innovation, along with strong commitment on sustainability. The fulcrum of these innovations will be enhanced customer service experience, leading to low-cost deposit mobilization through retail deposits to fund the credit growth. Asset quality will be given paramount importance with improving underwriting standards, containment of slippages, and speedy recovery. In this direction, a few initiatives have been taken by the bank. First of all, I discuss the business initiatives. Number one, the new credit assessment model based on data available from the digital footprints has been finalized, and a product named Star DigiBiz is developed to be rolled out digitally with an amount of INR 1 crore. Number two, the new internal rating model developed by CRISIL has been introduced for rating investment instruments. Number three, launched virtual account system payment service for assisting virtual IFSC code for corporate clients, which will enable faster collection of their payments with automated reconciliation. Number four, new Bank of India Tata Commercial Vehicle Loan launched in collaboration with Tata Motors Finance. Number five, the maximum limit for individual and group under the Star JLG scheme has been increased from INR 50,000 to 1 lakh and from 5 lakh to 10 lakh, respectively. The CGTMSE claim process and adjustment of the claim money received has been centralized in the bank. The IT initiatives which have been taken are number one, the focus on digital and technical transformation project TechStack has been launched to scale up digital footprints. Project Aditya analytics-driven initiative has been launched for developing a robust technological platform and enhancing data quality and governance. Number three, to enable outward remittances in 100+ currencies and inward remittances in 30+ currencies, a multi-currency payment solution, MCPS has been introduced. And number four, OTP-based credit facility has been implemented with customers can authorize auto debits from their accounts to corporates without using any third-party platforms. We have published and shared the financial results of the bank for Q2 FY 2025 yesterday. The main highlights are as under on the business side. Number one, global business has increased by 12.05% YOY from 12,460,000 crores in September 2023 to 13,970,000 crores in September 2024, with the incremental growth of nearly 1,500,000 crores. Global gross advances increased by 14.51% YOY from rupees 5.43 lakh crores in September 2023 to 6.21 lakh crores in September 2024, with the incremental growth of 78,000 crores. CASA increased by 7.26% YOY from 256,000 crores in September 2023 to 275,000 crores in September 2024, with the incremental growth of nearly 18,000, and CASA ratio is stood at 41.18%. Domestic gross advances increased by 15.03% YOY from INR 4.52 lakh crores in September 2023 to INR 5.20 lakh crores in September 2024, with the incremental growth of nearly INR 68,000 crores. Sequentially, it has grown by INR 12,000 crores at a rate of 2.46% during the quarter. Domestic deposits have increased by 12.33% YOY from INR 5.98 lakh crores in September 2023 to INR 672,000 crores in September 2024, with incremental growth of INR 73,000 crores. Sequentially, it has grown by INR 24,000 crores at 3.83%. RAM advances increased by 19.74% YOY from INR 250,000 crores in September 2023 to INR 3 lakh crores, with incremental growth of nearly INR 49,000 crores, with a share of 57.70% of the total domestic credit. As regards profitability and asset quality, operating profit for Q2 stands at INR 4,147 crores, witnessing a growth of 10%. Net profit stands at INR 2,374 crores, witnessing a YOY growth of 63%. For H1, stands at INR 4,076 crores, with a YOY growth of 35%. Global NIM stood at 2.82%, and domestic NIM stood at 3.14% for Q2 FY 2025. Interest income for Q2 stands at INR 17,000 crores, witnessing a YOY growth of 16% for half year, and it stands at INR 34,000 crores, with a YOY growth of 17%. Non-interest income for Q2 FY 2025 is INR 2,518 crores, witnessing a YOY growth of 14%, 49%, and a half year stands at INR 3,820 crores, with a YOY growth of 21%. There has been improvement in the asset quality, with reduction in both gross NPAs and net NPAs. Gross NPA ratio is at 4.41%, improved by 143 basis points on a YOY basis, and net NPA ratio is at 0.94%, which has improved by 60 basis points on a YOY basis. In tune with the growth of the economy, the guidance for domestic credit growth will be around 14%, and domestic deposit growth is projected at around 13%. The key focus area will be low-cost deposit mobilization for protecting our NIM and increasing high-yielding advances for consistent growth in the business, with emphasis on digital initiatives, improvement in asset quality, and arresting slippages. The endeavor of the bank will be in increasing efficiency and profitability, along with the focus on compliance and better corporate governance. I would like to thank you all for showing faith in us and for your continued support. The floor is now open for discussion and question and answer. Thank you so much. Thank you very much, sir. The floor is now open, as Sir said, for the question and answer session. I'll just do a little briefing. If you're putting up a question, please raise your hands and introduce yourself to the organization. And we will proceed in an orderly fashion, allowing each person to take three questions at a time. If you wish to ask additional questions, you will have the opportunity to do so after others have had their turn. So thank you for your cooperation. And one more thing, for all those who have joined us virtually, you will notice a small icon on your screen, a hand sign. Once you press this, it will alert us that you would like to ask a question. We will go around one by one. The analyst asking the question will be unmuted. You will get a notification on your screen to unmute yourself. Kindly click on Unmute and identify yourself and your organization before asking the question. Those who have joined us through an audio call, we request you to kindly WhatsApp Ms. Mahmuda or Ms. Bharti from Adfactors PR team if you would like to ask a question. We will ensure that the question is taken, so let's move ahead. Can I have the first one coming up, please? Ashwini Tewari, welcome. Yeah, I'm Ashok Ajmera. I'm the chairman of Ajcon Global. Sir, compliments to you for a very good set of numbers, sir. Thank you. I mean, if you look at even the profitability point of view, both the operating profit and net profit have gone up substantially. Overall, the business of the bank is also, I mean, as far as the growth is concerned, doing well as compared to some of the other banks. Having said that, sir, what we have observed is that in our profitability this quarter, a major component has come from other income, where the investment, you know, profit and the revaluation of the investment has gone up from INR 166 crores to INR 730 crores, and recovery from written-off accounts has gone up from INR 203 crores to INR 685 crores. So this put together INR 1,784 crores of which are straight away gone to the bottom line of the bank. On the other side, if you look at, which is our real banking business, which is dropping substantially, has dropped rather in this quarter, I think, from 3.42% to 3.17% or 12 something. Yeah, yeah. There we are facing the pressure of the margins. Correct. Here we are doing well on the recovery. Net net, our bottom line is definitely increased, which is a very good welcome sign, a sign which increases our book value of the share also and overall profitability. My question on this point is, number one, sustainability of this other income in the remaining half year of this FY 2025, and how do we meet the pressure on the NIM so as to increase the NIM and overall profitability of the bank? Can I then I will take up other. Yeah, yeah. Let me answer that. Yeah, yeah. So as you rightly said, Ashwini Tewari, that the profit has increased, but definitely there are certain challenges which you see in the balance sheet. So for the first time, we have crossed the profit of INR 2,000 crores in the quarter and closed this figure at INR 2,374 crores for this quarter. And it has improved from INR 1,400 crores, which we had shown in September 2023, and has again INR 1,700 crores, which we had shown in the June quarter. So you are right that this net profit is also riding on the fact that non-interest income has increased, and non-interest income is now INR 2,518 crores, and it is driven by basically two aspects. One is the treasury income, the sale of securities which we have done, and number two, with respect to the recovery in the written-off accounts. So let me explain that we have done some good treasury management from the treasury department side, and there were certain securities available with us in which we found that there were good margins available when we are disposing them. So that profit we have taken in the books, and because of which the profit from the sale of treasury from INR 81 crores, it has jumped to INR 730 crores on a YOY basis. Now coming to the return of accounts recovery, again, it is not one single account. There are seven to eight accounts in the NPA book which got resolved during this quarter, and we received this money, and all these accounts were written off. So they have not come in the interest income or any other income or reduction of NPA. They have gone straight away to the P&L of the bank through the non-interest income, and there it has increased from INR 560 crores in September 2023 to INR 685 crores in September 2024. There also has been some increase in the non-interest, other non-interest income with typically respect to the P&L charges as per the RBI circular. So P&L interest, which was earlier booked in the interest income, is now booked under the non-interest income. So these are the basic components. Apart from that, we have also done well in the cross-selling of third-party products, where our income is INR 85 crores as against INR 60 crores, INR 53 crores, in fact, in September 2023. So all in all, INR 2,518 crores has definitely contributed to the overall profitability of the bank for this quarter, and we think that with the kind of pipeline that we have in the NPA book, return of account pipeline, which is nearly INR 45,000 crores, and gross NPA book of around INR 27,000 crores, so recovery in this quarter and the ensuing quarter in the Q3 and Q4 will also be good so that the non-interest income of the bank continues to show the same kind of growth number which is there, or at least it is sustained at that level. The concern with respect to the net interest income, yes, it has increased by only 4% on a YOY basis, and on a Q1, Q basis, as you rightly say, it has degrown. Some of the reasons for that is the RBI circular, wherein the P&L interest income which was booked here is now getting booked in the P&L charges and going to the non-interest income. The second thing is that I have clarified in that yesterday press conference also was that around INR 18,000-19,000 crore of our corporate book got repaid in the first week at the 10th of July. So there were those advances in the corporate book where the rate of interest was very fine and linked to the repo rate, where we thought that it is better to get them paid off rather than continuing with the rising interest rate scenario on the deposit side. So that amount got paid off. So INR 18,000 crore and 19,000 crore of advances, corporate advances, the entire 90 days interest income was not available to the bank. So that was the thing. Though the credit has gone up on a quarter-to-quarter basis, both YOY and sequentially also, but the main thing which happened was the credit built up to that extent for some time, and majority of the disbursal in credit happened in the month of August and September, which did result in the increase of credit, but the average credit was on a lower side during the quarter, which resulted in the lower net interest income finally, which resulted in the lower net interest margins, which you rightly said. We have closed at 2.82% for this quarter on the NIM side on the global side, but on the domestic NIM side, we are having a healthy NIM of 3.14%. So we have to be very cognizant of the fact that when you see our book, Bank of India book, the total business size of 13.97 lakh crores, out of that 15% is the international book. In the international book, the NIMs are quite fine. In fact, they are much lower than the domestic NIM, because of which when we see the overall global NIM, it gets moderated. Because of this moderation, it is coming down to 2.80%. In fact, most of the banks who have higher international books, their NIMs get moderated once the global NIM is calculated. So that is the reason it is there. So further, I may say that it has bottomed out for us. It could not go below this. With the busy season which is coming now in Q3 and Q4, we expect that there will be better credit growth and a better disbursal which will take place month-on-month basis, which will give better interest income to the bank and then better net interest income. The overall margins will be better, and the NIMs will be better in the coming two quarters for the bank. My point well taken, sir. And yes, you said on the global overseas book, yes, I think we have got a very sizable book of more than a lakh of, I think. Exactly, it is INR 2 lakh crores. Yeah, INR 2 lakh 3,000 crores we close, more than INR 1 lakh crore of deposit and similarly more than INR 1 lakh crore of advances. Yes, sir. Total business today. One that profit is only INR 280 or 300 crores. 300 plus. In fact, it has doubled. In fact, it has doubled on a YOY basis. Sir, my second question is, sir, or rather some data point is on the little higher provision in spite of writing off the substantial amount of the provision writing back of, I think, INR 384 crores. We have written back in spite of that, the total provisioning is INR 1,427 crores on the NPA. Correct. So I can understand that one account of that. I think MTNL, I think 200 crores provisioning has been made. This has been made in this quarter itself out of this 1,400 crores. What is our total outstanding on that? I think 1,000 crores you reported, I mean, we saw in some press. Number one, what are the other provisions? I mean, why the provision figure has a little bit gone up? Number two, on MTNL account, how are we proceeding? All the banks together, whether it will come back standard and again slip, or how do we plan to recover this money even though it is government guaranteed? But it does affect our profitability quarter after quarter because of the provisioning and NPA figures also goes up. So some color on this because our SMA 1 and 2 have also gone up substantially in this quarter, including even SMA 0 also. So overall, SMA numbers are quite high. I think it is double or triple from the last quarter. I'll explain. So SMA 2 and 3, SMA 1 and 2, what is the status? Because now we are sitting in November, so some account might have been regularized also, must have come to the SMA 0. So can you give some color on that SMA number with a view to provisioning? Yeah, so coming on this, provisioning on the NPA account side, so INR 1,400 crores is the provisioning which we have done in this quarter. So one incremental increase in the provisioning in this quarter is because of that one public sector account, NPA, which had slipped during this quarter. In that, we have the exposure is more than INR 1,000 crores in which we have made the provision as per the IRAC RBI IRAC guidelines. So that provision is around 150 to 200 crores, somewhere in between that. The remaining provision is in respect to some NPA accounts which are unsecured, which were legacy NPAs where we have now taken them as unsecured because book debts and stock are not receivable in those cash credit accounts. There we have made the provision as per prudent banking practice. And some provision is with respect to the aging provision which happens in the due course of business when a substandard account becomes a doubtful account from D1 to D2 and the doubtful goes as per aging to the loss category. So that is the kind of provision that we have made. So INR 1,400 crores provision has come because of that. So that is one part. As regards the account-specific details which you are asking, see, this is a public sector account, and we are already in touch with the management. Other banks are also in touch with the management, and the management is working out some resolution process. So we have to wait and see what finally the resolution process comes out from their side and whether it will be some restructuring or some other kind of way which they want to give to the lenders. In any case, it is a central PSU. Definitely, the management will take a cognizant call, and majority of the lenders are public sector lenders. So we are awaiting, and we are very hopeful that not much of a hit the banks will get in this kind of account. So that is that point. As regards the SMA book, as you said, that the SMA numbers, so SMA numbers, if I can clarify, SMA 5 crores and above, if you see our formal slides, from 9,600 crores in June, it has come down to 7,600 overall SMA numbers. Especially the SMA 1.27 crores to SMA 2 also. Correct, correct. The broader point is that the overall SMA number has come down by nearly INR 2,000 crores on a quarter-on-quarter basis from June to September, and this SMA INR 7,600 crores constitutes only 1.29% of our overall standard book of the bank. That is one part. The second piece which you rightly said is most of this SMA number which is there was earlier resting in the SMA 0, which is now coming under the SMA 1 and SMA 2 category. SMA 1 and 2 has increased substantially, and if you see the further column in that, the corporate SMA has increased in the SMA 1 and 2. So these are four or five accounts which are for a state PSU in one state which are there, which are now showing an SMA of SMA 1 and 2. But let me clarify, all these accounts are secured accounts backed by assets, number one, backed by cash flows, and some of the accounts are also having state government guarantee. So we do not foresee any in these accounts in the coming quarters, though the accounts may remain under stress because of the cash flow issues in SMA 0, 1, and 2. But we are very hopeful that these accounts will not slip into the NPA category. My third question, and this is on the credit side. Now we are very good that we are maintaining the credit target of 14% for FY 2025. Correct. So in the remaining six months now, I think the pressure is more because what we have done in the first half is we have to do double than that in the second half to achieve these numbers. So what is our plan for that? What is the sanction pipeline for the project coming in? What kind of projects and the loan proposals are coming in? And how are we so confident that, yes, we will achieve this 14% number of the credit growth? Some color on that, sir, so that we are sure that, yes, our bank is now already becoming a 14 lakh crore bank. We will definitely go to that side of 13% before even 14% credit. Correct, correct. So if you see the credit growth in this quarter, so the global credit growth has been around 14%, and the domestic credit growth is around 15%. So that is a number which we have already achieved. Within that, if you see that overall growth in RAM sector, it has been nearly the RAM sector growth has been nearly 19%. Agriculture, it has grown by 21%. Retail has grown by 21%. MSME has grown by 15%. Overall, RAM credit has grown by 19%. And the overall RAM for you is 57% of the overall domestic credit book, which means that 43% only is the corporate credit book. That is one part. On the other part, as regards the pipeline is concerned, which is more than INR 70,000 crores of pipeline we are having as on date, which includes both corporate and also the RAM credit, majority of which is in the corporate pipeline, wherein there are infrastructure pipeline of nearly INR 15,000 crores. Apart from that, there are industrial borrowers also which are there in the pipeline, and it totally is agnostic to any industry in particular. There is infrastructure where we have pipeline for roads, disbursal for roads are pending, disbursal for some of the ports are pending, disbursal for solar power plants are pending, and then even wind energy is pending where the disbursals are yet to take place. We have sanctioned some data warehouse projects also, warehouse projects and data centers projects also. There is iron, steel, textile, petrochemicals, chemicals. So it is a whole list of products, including ethanol and other kinds of things. EV is also there. Battery is also there where the sanctions and principles have been given. We are very confident with the pipeline of more than 70,000 crores, which is in fact 10% more than the present loan of the bank. That whatever the target numbers we have kept, 14 is a moderate target that we have kept for ourselves for March 2025 on the global credit growth. But I am pretty sure with the kind of pipeline that we are having and the kind of action which is coming from the field level from our large corporate branches, from our underwriting centers at retail, MSME, and agriculture, and also the 18 ECCBs that we have opened, emerging corporate credit branches. We are very confident that this 14% credit growth target we have kept for ourselves will be able to achieve. Just on this credit only, I was going through this ESG slide. To the renewable energy, we have given the loan of almost about INR 5,000 crores. So is it spread over the various players in the renewable energy or some one or two or three big corporates, sir? Yeah, yeah. No, no, it is totally spread out. It is spread out in renewable energy, in solar also, and wind also. And it is spread across the geography, and also it is spread across the players. Thank you. Thank you. I have one question coming up from Narendra from Robo Capital. From where are you coming through? Mr. Narendra from Robo Capital. In case he is not able to join, there's one question from the chat. Hello. Yeah, yeah. My name is Marcel. I'm an investor. My first question is regarding this. We have other income substantially shot up. So about INR 700 crores is there recovery from the NPA? So is it sustainable for the coming quarter or not? Yeah, yeah. So we have replied to this question. This question was there from the first analyst also, from Ajmera ji. But for your convenience, I'll respond it again. See, we have whatever recovery we have done from the written-off accounts, it is not one single account. It is six or seven accounts under which the NPA accounts we have done the recovery and written-off of. So as I said, we have gross NPA number of around INR 27,000 crores and written-off number of amount of around INR 45,000 crores. With this kind of pipeline which is there in the NPA book and the kind of which we are having negotiations which we are having on one-to-one basis for one-time settlement, we are having with NARCL for sale, or we are having with the ARCs, or which we are the accounts which we are under discussion having under the COC in the NCLT. We are pretty sure that this number which is we have shown, recovery number which we have shown under the non-interest income, that interest will this kind of return will also be sustainable in the Q2 and Q3. Just to give further understanding of that, last year, whatever recovery we have done, we will be doing a recovery which will be much better than the recovery which was done in the last financial year for March 2024. So you meant to say we have the pipeline of INR 72,000 crores, 27,000 plus 45? Yeah, INR 45,000 crores is our run-off book, and 27,000 is the gross NPA. So that is the kind of pipeline in the NPA which is there, which is available for settlement and resolution. Okay. Sir, my second question that employee cost has increased substantially at consolidated level during Q2. As compared to Q1, employee cost has gone up by INR 285 crore, and as compared to YOY, by INR 445 crore. So is it some one-off there or like why it is so high, this employee cost? Because all those provisions required for this increment and this industry-level agreement has already been done in the previous quarter or the March. Kumar, you have any numbers with you for that? Sir, this is this particular employee consolidation increase because of our AS15 provision. Otherwise. Can you speak loudly, sir? Yes, sir. So this is because of AS15 provisioning, you have to keep additional provisioning because of that we have to keep employee cost. It's a normal increase. Sir, it cannot go by so much because if I repeat at the consolidated level, our employee cost in September 2023 quarter was INR 2,197 crores. Yes, sir. In June 2024, it became INR 2,367 crores. And now it became INR 2,652 crores. So it means it has gone up by INR 455 crores. It comes at that level because whatever incremental we required, it could not be this much amount. Sir, actually, when September we were taking at the time, this employee का this is not which one the increment happened only on 14th April, sir. Last September it was done on the incrementation increase of 15%. Now this is not increment on 1st April, that is what we can see the increase on quarter on quarter basis. Sir, your language is not understandable. I'm sorry for that. Can you speak that? If you can tell us that how much amount is the included, like which was, for example, some provision done which will not be repeated at that much level in the subsequent quarter? Can you tell us the amount, please? Yes, sir, please. I'll tell you. September 2023, when you are going to do the employee cost at that time, wage reduction का exact provision amount was not crystallized. Because we can estimate the increment 15% employee cost is 15%. After that, only when the wage settlement happened in December 2023, it got settled at 17%, and 1st April 2023, it amount got crystallized and we started booking in the June quarter. And subsequently, whatever is there, we have done something in June quarter and balanced in September quarter. And for that AS15, whatever is there, we have done some portion in June and then some portion in September we have done. I want to know the amount which was done for AS15 in June quarter and September quarter. Because since already made two quarters, so going forward, it will be only marginal increase. You know, that much. Please tell us the amount. I will just share the number. I don't have the number. I will just share it. You can mail to investorrelations.com. You have the number. You please mail it to that investorrelations.bankofindia.co.in. Please mail. Yes, sir. And in item number eight of this consolidated P&L, our provision other than tax and contingency are INR 1,062 crores. But the provision for NPA is INR 1,450 crores. So what is the INR 378 crore item like due to which it has become negative? What is the positive item you can say in this provision? That is the reversal of INR 364 crores. Stand up. So that our PCR has just clarified. Yes. That is the reversal on the standard asset side of INR 384 crores. Thank you. I think the provisions are satisfied. There is one question coming up in the chat box. So I'll take this one first because it came very first, okay? And then I'll let you speak. He is Mr. Abhishek Kashyap from Congress of 21. He has congratulated the management team. He has two questions. First is, what segment or sector are you having fresh slippages in? And what part of the loan book are unsecured loans? Okay, so as regards the fresh slippage is concerned, we had a fresh slippage of INR 2,046 crores, and the slippage happened 8% of that slippage was in the retail book. 28% of the slippage was in the agriculture book. 19% of the slippage was in the MSME book. 33% of that book was the corporate book, and 2% was in the overseas book. And in the overseas book also, the INR 64 crores is because of the foreign exchange fluctuation in the previous NPAs. So basically, 98% is in the domestic book itself, and major component being in the corporate sector, and one single lumpy account which I have already explained earlier. As regards the second part was with respect to the unsecured loan. The unsecured loan book predominantly which is in the retail our exposure, if you see. In that, there is that personal loan segment which is there which is unsecured. Out of INR 121,000 crores of retail book, INR 11,542 crores of the personal loan book is unsecured, and which constitutes nearly 9% of the total retail book. However, if you see the global bank book of the loan book, it is only 1.93%. Out of that INR 11,542 crores, the NPA is only around INR 100 crores. And SMA 2 and SMA 1 number, if you see in the personal loan book, that is around INR 300 crores. So overall, the total stress with respect to the personal loan book, the NPA plus the SMA 1 and 2 is only around INR 400 crores. It constitutes at around 3.6%-3.7% of the personal loan book. We do not see much of a challenge over there for the simple reason that a lot of guardrails we have placed in the personal loan book while we are sanctioning. Number one, the credit score is more than 700. Number two, we are taking the cash flows also into account. Majority of these personal loan accounts are having salaried accounts with us, savings account with Bank of India. The third one is that quite a few number of them are having housing loans and mortgage loans with us. Overall, when we are doing this personal loan book, the credit underwriting is happening through the digital mode, and some of the credit underwriting is also happening through the physical mode at the branch level. Having all these guardrails with us, we are very confident in the kind of stress which we are seeing, which is quite minimal. We are very comfortable with the personal loan book, and it is also growing at a healthy pace because of the low base. Thank you, sir. Sir, let me take your question. Then introduce yourself. Ramesh Bhojwani from Mehta. Three points of observation. The power sector, our lending exposure has been going down. You see the comparative chart which you have given. In which the SEB also now are your lending amount of INR 18,000 crores. So we'd like to have a clarification on this. So power sector, you are saying that the exposure is coming down in SEBs? Yeah. Also coming down. Coming down. Yeah, I hope the SEB exposure is absolutely healthy and normal. Yeah, yeah. Second, the power sector is like. Thank you. The government and all the entire power ministries, generation, distribution, financing are on a war footing because what power we are generating today, 252 gigawatts, we have to add so much in the next five years. Correct. The banks obviously had this big part to play or a big role to play. I would like to have your thought on that one. Second, we have an exposure in MTNL of 29,000 odd crores. Correct. So what will be like the second half? Not only will we feel it's a better half than the first. So going forward in the next two quarters, what will be the returns from this which will probably go straight into our bottom line and yield our net interest margin above 3%? Correct. The third one is in the fresh slippages with the corporate slippage of INR 1,094 crores apart from retail, agriculture, and MSME. Correct. The corporate slippage of INR 1,094 crores plus the second quarter of this year, there has been an observation of a creeping weakness in the large, medium, and small sector. Yes. So, is it a trend it will gather further strength, further roots, or it will reverse? Okay. So to answer your first question regarding power sector, if you see our slide also, the power exposure which was INR 42,000 crores in September 2023 has went down to INR 35,000 crores in June 2024, and in September it has come down further to INR 34,800 crores. Yes. See, the outstanding is coming out for the simple reason that whatever the power sector have been funded, they are all legacy funding. And the COD has happened, and the repayments are coming as per the normal schedule of payment. That is one reason. The second reason is that a lot of thermal power, the outstanding which is there, now it is getting consolidated among few large lenders for the simple reason that earlier the thermal power was sanctioned by 10 or 12 lenders, public sector and private. Now they are getting consolidated. Now the cash flows is there, rating is also there in A rated or AA rated, and they are getting consolidated at very fine price. So that fine price, in some of the cases, we have left those transactions. We have let the account get taken over in the thermal power sector where the rates were very fine, and it was not sustainable for us. So that is also one of the reasons it is coming down. As you said, Ajmera ji also said that in the ESG column, we are already satisfied that we have a pipeline of nearly INR 5,000 crores. I also stated that in infra, we have a pipeline of INR 15,000 crores. So we have a pipeline in infrastructure sector of nearly INR 15,000 crores. Predominantly, that is into the power sector only. That is into the green energy. So that will take some time to get disbursed and get allocated finally. Because all the projects take time right from the land and till the time the installation happens, and finally the machinery. A lot of banker retail and LCs have already been established in some of the accounts where the imports will be happening, and the disbursal will happen after 360 days, normally, typically in such kinds of transactions. So this amount will increase, but presently it is tapering down for the simple reason that normal repayments are happening. The second point was with respect to the stress in this sector. In the State Electricity Board, we do not see any stress presently in any of the accounts, and I don't think any of the accounts is appearing in the SMA 1 or 2 list also. So those public sector accounts which are appearing in SMA 1 and 2 list are the non-power sector accounts. So that is another clarification I would give. On the NCLT side, see, not much is there in our heads as far as the resolution is concerned because a lot of it depends on the COC, on the resolution professional, and also the bids which are coming. Finally, the NCLT or NCLAT will give the approval on the bids which are coming. But still we are confident that quite a few number of resolutions will be taking place in this Q2 of this financial year. As we said earlier, to just give you a number, so the recovery was last year INR 6,300 crores in FY24, and we are very confident with the kind of run rate that we have that the recovery during this financial year should be INR 7,000 crore plus in this financial year. So that is one number. As with regards to the fresh slippages, this fresh slippage number which has gone from, see, last quarter it was INR 1,900 crores. This quarter it is INR 2,500 crores. So if you remove this one single lumpy fresh slippage which has happened of around INR 1,000 crores, so had it not been there, our fresh slippage was only INR 1,500 crores. So it is much better. In fact, our slippage ratio, our credit cost which was there in this quarter, had this one single account not been there, both would have been much better than the June quarter. So this is a one account aberration which has happened during the quarter. And I said, as I said earlier also, in Q2, we do not foresee any further corporate account of this size and segment falling down into NPA category. So we do not foresee much of a stress in this segment. Thank you and all. Thank you. Thank you very much. There's one question, sir, coming from the chat box. It's from Mr. Dominic Javan from Securities. Should we scroll questions? The last two I have already texted the answers to those questions. What is the proportion of the loans priced on EBLR in your book? What is the total IT expenses for FY 2023 actual and FY 2024 projected? Yeah, yeah. I'll take the second question first on the IT expenses. As regards to the IT expenses are there in financial year 24, we had budgeted an expense of around INR 2,000 crores, out of which we had spent nearly INR 1,600 crores which were debited to the P&L. So that was for OpEx, our OpEx and general IT expenses, and also on the cybersecurity. So 80% of the budgeted expense on the IT side was paid or was debited in the P&L account in the last financial year FY24. As regards this financial year FY 2025, this year we have budgeted a figure of INR 2,100 crores, out of which around INR 700 crores we have already spent in this half year, H1 of this financial year up to September, and some INR 200 to 300 crores additional we have budgeted for the next quarter also during this P&L also. That is on the IT side. As regards the EBLR is concerned, so EBLR number is at around 40% plus for us, 47%. And in that, see, repo rate is 6.5%. Normally, we are lending at around, frankly speaking, our one month MCLR, overnight MCLR is 8.15%. So what is happening in the corporate is that many corporates are asking for very fine rates, and in that, in the MCLR segment, we cannot go below 8.15% because our overnight MCLR is 8.15% at present. So what we have to do is if we have to keep that account with us being a AAA borrower, maybe it is a PSU or a corporate AAA borrower who is asking for a repo rate or a rate below 8.15%, and they are not agreeing for an MCLR rate, we have to go to the repo rate. So there we negotiate as much as possible, and we are trying to negotiate at a rate of interest of somewhere around 8%. So which means that 6.5% is the repo rate. So 8% effectively, if we are taking, we are giving at around 6.5% plus 1.5% is equal to 8%. So that is the kind of range which is coming in the EBLR linked advances. That is on the corporate side. Apart from that, EBLR is also linkage there on the retail segments and also on the MSME segment. There also, that is as per the housing loan rate, presently we are giving to the best in class housing loan at 8.3% where the credit score is more than 850. And also there are some discounts in the agriculture, this MSME segment on the EBLR side. There the interest rate is ranging between 8.25%-8.75% or up to 9% also. Sorry, we don't have any lending in this case. That was the question. Ajmera, that was the question. Okay. I further clarify that in our bank, we have only one kind of external benchmark, which is the repo benchmark. We are not lending against the T-bills. There is no exposure against the T-bills. Thank you, sir. And yes, please, please introduce yourself, sir. Sushil Choksey, Indus Equity Advisors. Regarding the program in Bank of India, specifically after a decade, we are coming out of slumber and slump to improve unity and employee motivation. Sir, I've heard your media interaction which we have followed. Would you like to give some guidance for the current second half, specifically on ROA, ROE, domestic advances, and global advances? So as regards the top line is concerned, as I said, that the overall credit growth will be at around global credit will be at around 14%, and domestic credit growth will be at around 15% for FY 2025. As regards deposit is concerned, the deposit growth will be around 12%-13%. So that is the number. As regards the ROA is concerned, so we have already touched the ROA in this quarter at 0.94%. For the Q3 and Q4, we will be somewhere very close to 1% ROA on a quarterly basis for quarter December and quarter March. So that is the guidance. And overall, the ROA should be at around 2.90% for FY 2025. So that is our guidance which is there. NIM, NIM, NIM. Sorry. Ajmera, that was the answer for the ROA, it is there. So for the quarters, it will be near to 1% for December and for the March quarter. As regards the NIM is concerned, see, NIM is already at 2.82%. I have already explained. For the domestic NIM, it is 3.14%. It is because of the international NIM that it averages down to 2.82%, which is there for this quarter. For the guidance FY 2025, we are saying that it should be at around 2.90%. Sir, looking at the credit pipeline which you have highlighted of INR 70,000 crores, looking at the market condition where growth in the second half is going to be much better because the first half was inflated a little because of doing their injection. If Bank of India gets multiple pricing and credit pipeline is higher than INR 70,000 crores, how are we preparing for that kind of a growth pattern? Will we sacrifice growth or will we retain the growth because we are adequately prepared at the employee and the management level to handle that growth pattern? We are totally prepared for the growth numbers. See, we have nine large corporate branches. We have now emerging corporate branches, 18. There also, the proposal pipelines are coming, and then we have 400+ credit underwriting centers in retail, MSME, and agriculture, so the entire bank is well-tuned now with 5,000-plus branches to take on the credit growth. In fact, the entire credit growth comes from the field only, and the pipeline which is coming is from the field level only, so we are totally attuned to that. In fact, a lot of campaigns and other things we are doing to match this credit growth with the deposit growth. That is also there. So when we are saying that their credit growth will be at around 14% on a global level and the deposit growth will be 12%-13%, the gap is also there that we will be funding through the other measures which are there, like infra bonds we have already raised for INR 5,000 crores. Another INR 5,000 crores will be raising in the second half of this financial year. So tier 2 bonds, we have already raised INR 2,500 crores in Q1. In Q2, we will be raising tier 1 bonds in Q2. That is INR 2,500 crores. Apart from that, we are doing some refinance also from SIDBI and others. And apart from that, we have excess SLR also, against which also we are doing the borrowing. So whatever the deposit is available to the bank and the deposit growth that will be available to the bank, plus the other resources that we have, they will be adequate to move the credit growth. Apart from that, as a strategy, what we have done for increasing our resources is that already 36 branches we have opened in the bank till date. And we are planning to open total 200 plus branches in this financial year, which will help the bank not only in the raising of resources like CASA and retail term deposit, but also for increasing the RAM advances in the bank. So all these things placed together, we are very much poised to the growth trajectory which we have planned for ourselves, and top management is totally committed to that. Sir, your commitment is well-taken to sustain the employee motivation, the growth in pattern. What are we doing additionally for digitization and employee strengthening, which would lead to a potential near three or five-year growth trajectory where the bank gets back to its glory and the sustainable number? Correct. So as far as the digitization is concerned, if you see this slide, we have 17 products as of date which have been digitized. So if we see the total digital book of the bank, of the loan book and the overall book, INR 51,000 crores is the digital book of the bank as of date when we speak, which constitutes around 8% of our total business number. So that is the kind of number we have already achieved, digital number, which is totally digital also, and then also some assisted journeys at the branch level which happened in the rural branches. Overall, digital book is at around INR 51,000 crores. That is one part. 17 products are already there which are on the digital platform. Another 10 products will go to the digital in the next three months. So 27 products will be digital. That is one part. Apart from that, on the digital side, we have already put in Accenture for our digital lending project, artificial intelligence and machine learning and generative AI, where use cases have already started. They have started pushing, and we have started pushing them on the field, not only for marketing, also for sales, and also for the early warning system for the credits and other things. So that part has already started. Apart from that, we have also onboarded recently McKinsey for our next-gen, which is also there in the presentation for the digital and IT transformation and also on the cybersecurity side. So once they are also on board with their resources and other things, the next two years will go for the digital and IT transformation of the bank. That is another part which is there. A lot of the processes which are mundane processes and routine processes, they will be automated so that the staff is made free for, number one, for doing sales and marketing, number two, for doing collections, and number three, doing the recoveries in the NPA accounts. This is what we want to do for our staff, which gets free from all these automated processes where digitization happens. As regards the staff motivation is concerned, there also we are running the Starlight program under the BCG, where which a lot of initiatives we have taken for improving the motivation and the skill and upskilling level of the staff at all levels, right from the clerical level, substaff level, and to the officer level, right from scale one up to the top management level. So all these things taken together will transform the bank in the next one and a half years to a shining star and will be able to compete from the best in demand. What is the CapEx number linked to all this new initiative? So, CapEx number in the sense that is only the consultancy charges for, which has already been. For the entire digitization? Yeah, that I said. For the first year, it is INR 2,000 crores. That is the budget, INR 2,100 crores, out of which INR 600-700 crores we have already spent in the Q1, and INR 200-300 crores we have already booked in advance. So that is which is there. Sir, a lot of questions are being asked about renewable sector. Correct. I have read on the press that you have signed up with Tata Power, you have signed up with Waaree Energies, and you need to do other agencies. Yeah. How is the traction? Because Government of India is pushing for all these stuff, so the industries are concerned on how to hold their credit. Possibly, a lot of crosses may be possible for Bank of India to do, and I think they want to do, and they want to do various other things. How are we progressing on this kind of initiative where you have already tied up? Right. So on the infrastructure and the government scheme, there is a lot of good traction we have seen. And that we are seeing in particularly some states which are in North India, like Rajasthan, it is there. In Haryana, it is there. UP, it is there. Gujarat, it is there. Madhya Pradesh, it is there. A lot of traction is there where there are bungalows where you can have a solar rooftop. So a lot of traction is coming over there, and disbursal and sanctions are also happening. And we have done a lot of vendor tie-ups. The vendors will be giving these equipments and like doing the O&M work for the laying of the equipments at the rooftop. That is one part. The second part is the sanctions that we have given under the ESG platform, under the renewable energy, both in solar and also in the wind energy. Hydel, not much is there, frankly speaking, but definitely solar and wind we are doing aggressively. It is, as I earlier said also, that five, six players under whom platform we have sanctioned, and it is spread across the entire geography in the country. Good traction we are seeing. Present outstanding is in the form of non-fund-based. Once the 360 days or 270 days happen, they will get converted into fund-based outstandings. Are we targeting any treasury operation between international and domestic book, like a few of your peer banks which are well-known to you? Correct. Any good income on the FX arbitrage? Correct. So presently, Forex arbitrage, because of the present situation which is there in the international market, Forex arbitrage presently is not there which used to be earlier, but I would request Subrat to take it further. So whenever there is any opportunity in the arbitrage market, we are always there. Take advantage of that. Otherwise, also, if you see the treasury operation, so the performance has improved a lot, and I think it is we may be one of the outliers also so far in performance. I see that, but this additional income was visible in the past. Could it be visible? No. So again, the treasury operation goes with the interest rate scenario, right? What is your view on interest rate? So based on that, we will take a call and exchange rate also, make the purchase and also. So powerful. Yeah, many factors are there. So we can't say at this point in time we guarantee the same kind of temporary momentum, yes, but any time the market gives us opportunity, we are there, we are there to grab it. Simple. How do you see the tide of the bank overall improving from where we are today? So we have taken a lot of initiatives to improve the TAT over the last 18 months, I can tell you. So whatever the TAT was earlier and what is the TAT today is definitely much better, I can say, only in retail, agriculture, MSME, but also in the corporate credit. But as a top management, we have to take that thing that it can be improved further. So we are doing some of the things in the processes to make the loan application simple, to make the process internally at head office more simple, so that the TAT is improved even further, not only for the sanction, Choksey, but even for the disbursal. So what we see from the sanction rate till the disbursal rate, the TAT is also high. So the disbursal is not taking because of which the interest income is not coming to the bank. So, that also we are trying to simplify so that the processes and other things, so that the disbursal takes place as early as possible after the sanction, so that the interest income starts coming to the bank. Thank you, Sushi Choksey Thank you for answering all my questions and best wishes for the year to come. Thank you so much. Thank you so much. Bhavi, we can have Mr. Narendra from Robo Capital has been waiting since 1:00. Mr. Narendra. Bhavi, will he talk now? Yes, he has not. He has not. Mr. Narendra, you can come and field your question. Yeah, yeah, yeah. Thanks for the opportunity, sir. Congratulations on a good set of numbers. My first question is that while the FY 2025 guidance on loan growth is encouraging, I would like to know your medium-term target or where do we see Bank of India two or three years down the line, where do we see our advance book and what kind of growth are we seeing given our initiatives that we have been taking on the IT part and all that? And also on the credit cost, so I believe we have a guidance of 0.7% for the entire year. And are we on track for that? And how do we see this panning out over the next couple of years if you could share some light on that? Yeah, thank you so much. As regards our strategy, near-term and short-term strategy, see, we have already got a three-year roadmap approved from our board. So three-year means up to March 2027, wherein we have said that the total book of the bank will look like around 18 lakh crores. So we are at 14 lakh crores at present. So what we plan to touch a figure of 18 lakh crores by March 2027, in which 10 lakh crores will be deposited and around 8 lakh crores will be the advances. That is one number. Another thing which we have done recently in our growth strategy meet is that we have kept ourselves a thing which is called the BOI Star at BOI at 125. So on 7 September, we completed 119 years of our foundation. So the 125th year will happen in 2031 for us. So we have, through the board-approved strategy, we have come out with the BOI at 125. So how Bank of India will look in 2031? There also, we have taken a lot of initiative. Each of the verticals in the bank have given their vision what Bank of India will look like in 2031. Broadly, to give you the numbers, we are saying that we will have a total business of nearly INR 32 lakh crores by 2031. That is another vision and number which I can share with you, and for which each of the verticals have given their presentation, and the entire data sheet is available with us. How we are going to move it around in the quarter-on-quarter basis and year-on-year basis, with the first hard stop being at March 2027 with a total business of INR 18 lakh crores. That is the first part of your question. Second part is with respect to the credit cost. So credit cost, we have given a guidance of 0.70% for March 2025. So that we continue to maintain, which will be at 0.70%. As regards the corollary to that is with respect to the slippage ratio, that we are giving a guidance since one account has slipped in this quarter of nearly 1,000 crores. We are giving a guidance of slippage ratio of around 1.40% for March 2025. Thank you. Thank you very much, sir. Thank you very much. We can say my remarks shortly. Yes, anybody from the general interest here? Bhavi, can we take Mr. Deepak Gupta from SBI Pension? This is also waiting online. Mr. Deepak Gupta. Yes, Mr. Gupta, can you put your question? Hi, good evening. Can you hear me? Yeah, we are all ears. Hi. So my first question is, so I joined on the call a bit late, but I'm just trying to understand the dichotomy that domestic NIMs have declined by 28 basis points on a quarter-on-quarter basis, while we've seen the retail segment doing quite well for the bank in terms of loan book growth, especially personal loans, which have grown by nearly 10% on a quarter-on-quarter basis. So what had led to the sharp decline in domestic NIMs, if the chairman could articulate that? Yeah, yeah. So we had explained this thing. Actually, you are right that the domestic NIM has come down to 3.14% as against 3.43% in the June quarter. So the basic reason for that was that around INR 18-19 thousand crores of our corporate advances got paid off within the 10 days in July. So these were all repo-linked advances, wherein the rates were very fine. We thought it prudent to let go of these advances because of the very low margins which were available in those advances, and the cost of deposit was also rising during the month of July and August. So that was the simple reason. And to recoup those advances of around INR 18-19,000 crores, it took some time. In fact, the disbursal started happening from the 15th August afterwards. So only 40, 45 days were available for the interest income on those corporate advances, that kind of book which was there. So that is one of the reasons why the NIM got impacted. Domestic NIM got impacted during this quarter. However, this quarter, we are seeing a lot of traction as far as the disbursals are concerned. Sanction is one part, but disbursals are there. And July month, the disbursals were quite less in the bank, because of which the average advances also was lesser in the Q2 of this financial year. From this quarter, with this busy season happening in Q3 and Q4, we are very sure that the interest income will be much better, and the domestic NIM will also improve. In fact, we feel that they have bottomed out, and the 2.82 domestic NIM for us is a bottomed out. Sure. Just want to understand, was there any impact of interest reversal on the state? Yes, obviously, it is there. Yeah, that goes without saying. See, we had this 1,000 crores of NPA happening. So because of that, also, whatever the uncharged interest was there, that had to be reversed. And then, apart from that, there was another 1,500 crores of NPA and some agriculture NPA. When the agriculture NPA happens, the interest reversal is even higher, near to one year of interest. So all these things contributed to the reversal of interest income and plus the 18,000 crores payout which happened in the first week of July. So that is why there is an aberration in this quarter in the net interest income. In fact, on a quarter-on-quarter basis, it has gone down, which finally resulted in a domestic NIM at 2.82%. Sure, I hear you. Sir, my second and the last question is that the personal loan as a segment has grown very meaningfully on a quarter-on-quarter basis for you, and similarly on a YOY basis. We've had most banks reporting a slowdown in the personal loan segment. What is it that Bank of India is seeing in the segment, and if they have some perspective of this INR 11,000 crores of book that you have built? Yeah, yeah. So this question also, I had answered earlier. The question had come, but let me do your clarification again, reply. 11,500 crores is the book, and it is growing at 40% + on a YOY basis. So a lot of guardrails we have placed in these personal loan sanctions. Normally, the sanctions are happening with a CIC score of 700 plus. That is one guardrail. Number two, a lot of these borrowers are having housing loan and mortgage loans with us, and the top-up is happening as a personal loan, though the house is not charged to us, but at least some relationship is there with respect to mortgage with the bank. Number three is that the majority of these accounts are salary accounts, where the salary is coming into Bank of India, and we are debiting the installments. That is one part as far as the guardrails are concerned in these personal loan books. And this 11,000-plus also includes the 500-600 crores credit card book outstanding which is there. As far as the asset quality of this personal loan book is concerned, we have an NPA of less than around 100 crores, which constitutes that is one part. Second part is the SMA 1 and 2, that is around 300 crores. So total stress in the personal loan book of 11,500 crores is around 400 crores, which is in form of an NPA of 100 crores and SMA 1 and 2, which is nearly 3.4%-3.5% of the total personal loan book. And if you see the personal loan book, it is only 11,500, and it constitutes only 1.9% of our global loan book. And that is quite insignificant also. So we are very much comfortable with the present asset quality in the personal loan book, and the kind of growth is also happening through the digital and physical mode at the branches. And a lot of traction we are seeing, and the majority of these customers are existing customers in which we already are having relationship, credit relationships. Sure. Thank you so much. Thank you very much. So there's another question coming up in the chat box. It's from Mr. Shreyas. This question is, recovery is strong, but from which customer segment is this recovery coming? Yeah. So as far as the recovery is concerned, so I already said that in the non-interest income, there has been recovery from the return of accounts. Apart from that, we have done some good recovery as regards to the general accounts, which is there. So the total recovery which has happened during this quarter is around INR 28 billion, which also includes a write-off of around INR 10 billion. Apart from that, nearly INR 4 billion we have also recovered in form of the unrecovered interest also. So net-net around INR 22 billion we have recovered, and it is spread across all sectors, whether it is agricultural recovery from agricultural NPAs, recovery from MPAs which were MSME, recoveries from the OTS schemes which were retail, and also from the corporates. We have at least three or four OTS schemes which are ongoing at present in the bank for different segments, for segments which are up to 25 lakh segments, which are from 25 lakhs to one crore, segment which is one crore to 10 crore, and 10 crores and above. All these schemes are giving good traction at the field level, at different levels of sanction they are happening. And whatever the recovery has happened, it is agnostic, totally agnostic to any particular credit account, large credit account, and it is spread across the sectors in RAM and also in the corporate. Yeah, ARBs also. So my AD has prompted me that we have also strengthened the ARBs. So presently, there are around 20 ARBs in the bank. What we have done is all the NPAs which are INR 25 lakhs and above have been consolidated in these ARBs, and the entire focus of this staff which is placed in the ARBs is with respect to the recovery in the accounts which are parked to these branches, and branches now have been freed by doing the recovery work which used to be there earlier. So that is another initiative which we have taken over the past one year, which is now yielding results for us. Thank you, sir. Another question coming in the chat box is from Mr. Vatish Kumar. What is the total provision on central government telecom accounts in MTNL? Yeah. Total provision on central government telecom accounts? Yeah, yeah. So as per the IRAC guidelines, whatever the provision is required, we have already done. It is somewhere between INR 150-INR 200 crores. Thank you. Yes. Next part of this question is, will the interest income accruals from revenues and repeats to revenue? That has come in the chat. What? Will the interest income accruals? So interest income accruals, see, recovery from UBI and UCO, which we say, is around 400 crores, which is 4 billion, not 2 billion. 4 billion recovery we have done in the NPA accounts through interest income. Okay, sir. Thank you. Anybody from management questions? Any questions regarding? Yeah. This is from Mr. Dibran. He has congratulated the management for such excellent progress. Bank has started doing restructured book disclosures in the analyst and investor presentation for Q2 financial year 2025 as it did in Q1 FY 2025. Can we please provide the same? Yeah, yeah. We'll provide you the same. I have clarified today in the media channel interaction also. So we had removed that slide because there was not much change in the outstanding and the book number. So the restructured book for the bank remains the same. Let me clarify, but we'll further give the details of that. All COVID-related restructuring in COVID. Yeah, yeah. These are all the same. Same number is there. In fact, I have this March number which will again be similar to that. I'll just. Just play around. One second. His other question is, can we sustain non-interest income around INR 1,500-2,000 crores per quarter? Sir, please. Huh? Abhi I'm not having that number, but we'll share that number. Mr. Dibran, the number which you asked for will be shared. This next part of the question is, can we sustain non-interest income at around INR 1,500-INR 2,000 crores per quarter? Yeah, yeah. So INR 2,500 crores was the non-interest income in this quarter. Earlier, it was coming at around a run rate of around INR 1,500-1,600 crores. So with the kind of return of accounts, we have INR 45,000 crores of return of account and the treasury income that we are seeing. So we will be able to sustain these kinds of numbers. And do we have that number, Prashad? 1,480 crores. That is the restructured book. So our CGM recovery is informing that the restructured book is at around INR 19,000 crores. No, no, no. Restructuring one and two. Domestic restructuring total. 100 portfolio is around 6,500. 6,500. 6,500 crore is standard asset portfolio under restructuring. That is NPA restructuring. NPA should. Okay. That is then 6,700. Standard restructuring. Standard restructuring. So the number which you are telling is including NPA. So standard is around INR 6,000 crores. Yeah, 6,500. 5,511 crores. Correct. So you've got your payments coming. So if there's any questions? Yes. How can we leave you? Sir, my. Just some observation. Basically, get a data point, some explanation. On the segment-wise results which we give, which also has some importance because we divide it into the wholesale, banking, retail, and treasury. And has some meaning. In this quarter, I see a very big divergence in those numbers. Like wholesale from INR 1,041 crores has come down to INR 170 crores in operating profit. And the retail from INR 370 crores, it has come up to INR 1,946 crores. So is there any reclassification or how the segment-wise so much of variance can happen? One is provision that is in the corporate book. Provision? What is that? What is that? No, no. That is, see, because of the from 1,041. Segment income wholesale. Segment income [Foreign language] Kumar, I will be able to clarify and if you want the segment. Segment-wise, profit and net profit, which comes before the investment in the segment and the total return. Yes, yes. Which, in the last quarter, in case of wholesale banking, INR 1,041 crores, which has come down to INR 170 crores. [Foreign language] Income reversal should be. Sir, gap is coming. The difference is coming. Difference is actually kya hai na, corporate book growth also dropped off. So naturally, interest, whatever that would have come only in interest income-wise. Non-interest income will also come there in the retail segment. Yeah. Retail growth is 1,946. Kumar, can you throw some light on this? Can I pass on the line? Please. Line to ED, there's 19% yields underlying this one. At 20% yield, which was not able to compete with the corporate book. And the reversal of 1.9% cost of the retail sector was too late for the recovery in the wholesale book. And our retail book is receiving from. Is that. This is the main reason for wholesale banking. Anyway, I will get the details because. I will be able to. It cannot be INR 1,946 crores in the wholesale sector. So, maybe some. Maybe clarify. Clarify it. One question is that we have got about 35,995 touch points with the customers. Correct, correct. With the branches. And now it's a large bank with 35 crores of customers. Our third-party income are the, I mean, which can adapt straight to the bottom line. Can you throw some light on that? Which are the sources? We are here about subsidies also. We have got some other companies that we have invested in. Plus, we have got such a large customer touch point. And so all the income overall. Can you give some color on that, that what are we doing and how, what efforts we are doing to increase that? Because it comes with the similar kind of infrastructure in road work is very much on that, and the income comes here. So any particular, anyone can increase that? And what are the roadmap ahead to take it forward? So as regards the customer touch points are concerned, you know, it said that there are around 36,000 touch points as of 30th of September. So which has increased by nearly 1,300 during this quarter. 36 are the branches which we have opened. Out of it, 27 branches are in the semi-urban area. And the remaining are the BC points. So these are all touch points we have introduced in the bank to engage more with the customers and bring more business for the bank, both on the deposit side and also on the advances side and also from the third-party products. So that is one part. As regards the third-party business is concerned, so one is the mutual fund. So mutual fund business, we have the AUM was around INR 3,000-3,500 crores as of March 2023. Today, the AUM is around INR 11,000 crores. So that is the kind of AUM growth we have seen in the mutual fund, which is our own 100% subsidiary. So there also good traction is seen, and we are seeing that by March 2025, this AUM will go even further. That is one part through which the income is coming. And in fact, as of the October month, this subsidiary also became profitable on its own. So that is one positive thing which has happened in the bank. The second part is the insurance selling, which is the life insurance. There also, if you see from the third-party products, 60% of the income YOY increase has happened in the non-interest income from sale of third-party products like insurance. So there also, we are getting good traction by selling our own subsidiary joint venture with Union Bank, which is the SUD Life insurance product number one, and also selling the insurance products of LIC, which is our prime partner as far as the life insurance is concerned. That is the second part. Third is now we are having from the top management side a strategy for increasing our credit card business. So that is strategy also we are working on, and some RFPs and other things will be happening very shortly. And that also we will be going to scale up in the coming quarters, our credit card business. Fourth is our BOI Shareholding subsidiary, in which now we have got the RBI approval for doing the DSA work. So in that DSA work, the work has already started, and this is kind of retail growth which we are seeing. So the DSAs are now employed by our BOI Shareholding. They are deploying them in various zones and FGMs. Already five, six FGM offices have already been deployed, and zones have been deployed, these DSAs, and they are giving good business to the bank, and their commission is based on the disbursal which happens from the leads which they are giving. So that DSA business is also there now, which has started picking up. By the end of financial year, all 13 FGM offices will be covered through this DSA business. So the loan side will get covered. After that, in the second phase, we will do the liability products like they will be marketing for saving and current accounts and also retail term deposit. In the next phase, third-party products like selling of insurance, mutual funds, and Demat accounts, and also credit cards and other things. In the fourth phase, we will be going for collection also through them, collection for the SMA accounts and recovery in the NPA account. That full strategy we have already made, and this will get panned out in the next 18-24 months from the BOI Shareholding Ltd. All things done and being there. We are trying to make as much profit as possible from third-party products. Apart from that, all the work is happening on the IT side through the digital platform, which is Finastra, which is a Wipro platform for supply chain financing. That will also get enabled by the end of March 2025. Once that online happens, a lot of supply chain financing through digital mode will also start in the bank. So all these things taken together, I think a lot of products and other things will become. Thank you, sir, for such an elaborate explanation and details. In fact, it should be known to everyone. Bank of India probably will be among the public sector bank these days, recently in the last one, one and a half years, the most cheapest stock available. Your book value is about 136, 138. And your price is INR 108, which is still running at a discount where many of the public sector banks are 2 plus, 2.5 + book they are running. So you are doing a lot of things, and I think it should be the message which shows you should have a little more interaction. The people and people should know that how much you are doing for the bank. Sir, two things. One is this credit cost target and cost to income. Yeah, yeah. Credit cost, I already said that it will be 0.70 FY 2025. And cost to income. We will come down below 50? No, not in this financial year. Not in this financial year. It should be around 51. Should be around 50. Okay, sir. Thank you. Thank you very much for giving the opportunity and details. Thank you. Thank you. Thank you. As there are no further questions, I would now like to request our CMD Sir for closing the minutes. Yeah, I will only say thank you to all of you who have come physically also and also joined through the virtual mode. Thank you so much for being part of this analyst meet which is there today. We'll be happy to interact with you on a regular basis. If any query is there, anything is there, you can reach out to us, the top management, at any time. We'll be happy to answer all your queries. Thank you so much and all the best. Thank you. Thank you very much.