Good evening, ladies and gentlemen. Good evening once again. A very warm welcome to today's analyst meet of Bank of India's Quarter Four results for FY 2026, which is being conducted in a hybrid mode, being attended physically as well as virtually by our analysts from pan-India. We have with us on the dais, Sri Rajneesh Karnatak, our MD and CEO, sir. Joining him on the dais are our Executive Directors, Sri P.R. Rajagopal, sir, Sri Subrat Kumar, sir, Sri Rajiv Mishra, sir, and Sri Pramod Kumar Dwivedi, sir. I request our MD and CEO, sir, to kindly address this gathering to begin with. Yes, sir. Over to you, sir. Thank you, madam. Good evening, everyone. Thanks for coming. Good evening, ladies and gentlemen. Thank you for joining us today on this eve of publication of our Bank's financial results for 2025, 2026. This year has been another significant milestone in the Bank's journey, marked by resilient financial performance, strengthened asset quality and robust business growth and continued commitment towards the nation building. Despite global uncertainties, geopolitical tensions, evolving interest rate scenarios and cycles, and changing regulatory expectations, the Indian economy has demonstrated remarkable resilience. In this backdrop, our Bank has continued to play a proactive role in supporting economic growth while maintaining financial stability and prudent risk management. During the year, the Bank recorded healthy growth across key parameters, including deposits, advances, operating profit, and digital transactions. Our focus remained on a calibrated credit growth with emphasis on quality underwriting, sectoral diversification, and responsible lending practices. My speech is in three parts today. First part being institutional initiatives that we have taken, the second part being the business that we have done, and third part being the profitability and the asset quality. On the institutional initiatives, the bank is establishing zonal deposit centers at all zonal offices to accelerate the CASA accretion and its market share. This initiative is designed to ensure long-term retail stability and foster deeper and more meaningful customer relationships as far as the CASA franchise of the bank is concerned. The bank has also strengthened the UMANG app, which is the Government of India app with its own BOI Omni Neo platform, creating one-stop digital solution for a wide range of central and state government services. The strategic partnership with the National e-Governance Division allows our customers to conveniently access essential public services through a streamlined redirection model directly within our own banking app. The third is the bank has launched the Bharat Connect biller operating services, enabling corporate customers to onboard themselves as billers and offer their customers diverse digital payment options. This initiative enhances the digital reach and it strengthens the collection processes, ensuring a more convenient and efficient payment experience for all the stakeholders. The bank has also established dedicated MSME desk helplines to address the borrowers' concerns directly. This initiative facilitates structured regular interaction, ensuring a transparent and responsive grievance redressal mechanism for our MSME customers. The second part is with respect to the business. The global business has grown by 14.57% on a YoY basis from INR 14.63 lakh crores in March 2025 to INR 16.98 lakh crores in March 2026, with an incremental growth of nearly INR 2.16 lakh crores. The global deposits have increased by 13.56% on a YoY basis from INR 8.17 lakh crores in March 2025 to INR 9.27 lakh crores in March 2026, with an incremental growth of INR 1.1 lakh crores. The domestic deposits have increased by 14.30% on a YoY basis from INR 7 lakh crores in March 2025 to INR 8 lakh crores in March 2026. CASA has increased on a YoY basis from INR 2.80 lakh crore in March 2025 to INR 3.01 lakh crore in March 2026, with an incremental growth of more than INR 20,000 crore in March 2026. The CASA ratio stood at 37.64%. Gross global advances have increased by 15.82% on a YoY basis from INR 6.66 lakh crore in March 2025 to INR 7.71 lakh crore in March 2026, with an incremental growth of more than INR 1.05 lakh crore. Domestic gross advances have also increased by 16.10% on a YoY basis from INR 5.64 lakh crore in March 2025 to INR 6.54 lakh crore in March 2026. Our RAM advances have increased by 19.11% on a YoY basis from INR 3.23 lakh crore to INR 3.84 lakh crore in March 2026, constituting 58% of the total advances as on March 2026. As far as the profitability and the asset quality in the bank is concerned, our operating profit has improved by 4% on a YoY basis and stood at INR 17,049 crores for FY 2026 against INR 16,412 crores in FY 2025, and for the quarter ended FY 2026 Q4 at INR 5,026 crores with a YoY growth of more than 3%. Net profit has increased by more than 14% on a YoY basis and stood at INR 10,527 crores for FY 2026, as against INR 9,219 crores in FY 2025. For Q4 FY 2026 it stood at INR 3,016 crores, witnessing a YoY growth of more than 15%. Net interest income has also increased by 3% on a YoY basis, stood at INR 25,172 crore for FY 2026, against INR 24,394 crores in FY 2026. For FY Q4 of FY 2026 stood at INR 6,730 crores, against INR 6,063 crores in Q4 of FY 2025. Non-interest income has increased by 10% on a year-over-year basis and stood at INR 9,874 crores for FY 2026, as against INR 8,994 crores in FY 2025. Global NIM stood at 2.52% as on FY 2026, as against 2.82% in FY 2025. Slippage ratio stood at 0.83% as against 1.36% in FY 2026. Credit costs has improved to 0.46% in FY 2026, as against 0.76% in FY 2025. There has been improvement in the asset quality with a reduction in both gross NPA and net NPA ratio. Gross NPA ratio has improved to 1% by 129 basis points to 1.98% in FY 2026. Net NPA ratio has improved by 26 basis point on a YoY basis, and stood at 0.56% only in FY 2026. Provision coverage ratio has improved to 93.57% in March 2026, as against 92.39% in March 2025. As on 31/3/2026, Bank's CRAR has improved to 18.01% from 17.09% as on March 2025. To conclude, in alignment with the prevailing global economic conditions, the guidance for the global advances growth will be around 15%-16%, and the guidance for global deposit growth is around 13%-14% for FY 2027. The bank's primary focus will be on strengthening the deposit franchise for a higher share of low-cost deposit funds, while driving the growth in high-yielding advances to support the margins. Focused efforts will be there on maintaining the balanced CD ratio, which is the credit deposit ratio, and enhancing the return on assets will deliver a stronger financial performance. Investment in digital infrastructure and cybersecurity will continue to enhance efficiency and resilience. Together, these actions will enhance the measured expansion of the bank business, and reinforce long-term value creation for all stakeholders. The detailed annual report being released will provide comprehensive insight into the bank's financial performance, strategic direction, and also governance practice and the future outlook of the bank. I would like to thank you all for your continued support. The floor is now open for discussions and question answer. Thank you all for coming here, and [Non-English content]. Thank you very much, sir. Before we proceed, please raise your hands if you would like to ask a question. A little improvisation here that if you could stand a little our volunteers, it'll be easier for our volunteers to see you so that the mics can be passed on in an orderly fashion. Again, repeating with, it's an earnest request that kindly put only two questions at a time so that maximum people can join, because there are already a lot of questions coming online. We'll come back to you for additional questions for sure. Thank you for your cooperation. For those who have joined us virtually, you will notice a small icon on your screen, a hand sign. Once you press this, it'll alert us that you would like to ask a question. We'll 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. I have already shared the WhatsApp number earlier. I'm sure questions are already on the way. Let us begin, yes. Who's going to be the first one? Nobody from here. Let us take if Mr. Ajmera is online because I got a text. Can you put him through? Mr. Ajmera, Ganesh? Good evening. Thanks for taking me. My question is the first question. In fact, I don't have the question. I have major observations, a few observations, some compliments. My compliments to the entire team of Bank of India for yet another good quarter of very good results. Even good business growth, good profitability, very good control on the asset quality, good control on the slippages, and overall a fantastic quarter and a year. Compliments for the same. Can you hear me? Yeah. Yes, sir. We can hear you clearly. Yes, sir. Yes, sir. Rajneesh Karnatak, compliments to you. Sir, having said that, I have just a main, basic question which is coming to the mind is that the ECL guidelines are already announced now, the final guidelines. How our bank is prepared to meet the provisioning for the same? Starting from first April 2027, are we equipped fully to not take the benefit of those four or five years which are allowed? My second question is on the ECLGS 5.0, which has been announced by the Government of India two days back only. I think with that, a lot of, I mean, the more room will open for the credit growth. How much growth are you expecting? I mean, have you done the analysis of the customer who are eligible for this emergency, credit line? How much of that you are expecting to materialize the credit, sir? Yeah. Thank you so much, and thank you for joining also for this conference. Yeah, we had a difficult year. As far as the first question is concerned with respect to the RBI ECL guidelines which have come out, which are effective from April 1st, 2027, we have already done a lot of homework and preparation since the draft guidelines have come. We have already onboarded one of the Big Fours for the transitioning towards the ECL regime, Already the teams have already been made in our head office from the risk department side on the calculations of the various ratios and other things. As far as the impact is concerned, not much of an impact will be there. At that much I can assure you. With the kind of asset quality and the SMA numbers that we are having and the declining trend in the SMA numbers, the transition for Bank of India to the ECL guidelines of RBI will be smooth. As you rightly said, that it is for five years, starting from April 1st, 2027 to March 31st, 2032, the impact will be spread across the next five years. As per our calculation that we have done, the impact will be only 0.50% per annum aggregating to total 2.50% over the next five years. To just to give you a sense on that, we have a net profit of presently, as we have shown in this financial year, INR 10,000 crore of net profit, which is improving the CRAR of the bank and the CET1 of the bank. If you remove the net, the dividend also of around INR 1,800 crore-INR 2,000 crore that we have to pay, still the accretion to the net worth and the CRAR is by a good INR 8,000 crore. Not much of impact will be there on the CRAR, and the overall impact per annum will be only 0.5%, which we have sufficient cushion in our net worth and the CRAR and the CET1 to absorb. Presently, as I told you that our CRAR is 18.01% as against the RBI mandated 11.5%. As regard the ECLGS is concerned, 5.0 announced by the Government, for a total gross kitty of around INR 2.55 lakh crore. As you are aware, there also it is for both MSME and non-MSME. MSME is having a credit guarantee of 100% and non-MSME is having a guarantee of 90%, and the payout is five years for the MSME and for the airline sector. For the MSME and non-MSME it is five year. For the airline sector it is seven years. We have already started, our teams have already started, doing the calculations and finding out the list as far as our MSME borrowers are concerned and also allied sector in the agriculture is concerned. Our mid-corporate team has also started that through the ECLGS branches, the emerging corporate branches that we have, 19 branches. The large corporate team has also already started identifying the accounts under which we'll be eligible for the working capital. As you are aware, 20% of the working capital of the peak of the Q4 will be eligible, 20% for the ECLGS. We have done some ballpark computation calculation in that. We expect that around INR 10,000 crore-INR 12,000 crore, we will be able to fund under the ECLGS scheme this time. Okay. The next week, we'll be going to our board for approval of this scheme for our Bank of India, and after which it will immediately get rolled out in the branches. We expect that lot of MSME borrowers and also allied sector in agriculture and some of the corporates and mid corporates will be immediately coming and availing this facility in this financial year. Thank you. Sir, the. Thank you very much, sir. Hello? Yes. Yeah. Kindly pass on the mic to the first. Okay. You may take. First of all, congratulations on a good set of numbers, sir. Kindly introduce yourself. Nishit Shah over here from ViSolitech Investment Advisors. My question is regarding your retail deposits. What we've seen is that reliance on bulk deposit has increased. No doubt there has been a very tight competition when it comes to retail deposit. RBI has also said that banks need to innovate, and I think you are the first one to start with no minimum balance scheme, right? I think it has to be more pronounced because every other bank is doing and we are having a product which is innovative. That is one suggestion. What is the comfortable CD ratio? Because I think your asset growth is much higher than your liabilities growth. That would be my first question, sir. Yeah. Thank you. As far as our retail franchise is concerned, if you see in our presentation also, our CASA percentage 37% and retail deposits at around 44%, our retail franchise of the domestic resources side is around 81%-82%. The remaining percent is the bulk term deposits. As you rightly said that there has been a structural change which has happened as far as the deposit color of the deposit is concerned, a lot of funds are flowing out of the banking system into other asset class, like equity, like mutual fund, like gold, like real estate and others. There has been a lot of competition among the banks how to fund this credit growth which is coming. That is one part. However, if you see from our presentation, you will see that in spite of all these headwinds which are there, we have been able to grow our CASA in absolute terms by more than INR 20,000 crore. From INR 280,000 crore- INR 300,000 crore. Similarly, on the retail term deposit side, in spite of that, we have been able to increase our retail term deposit percentage from 45.89% in absolute numbers this has now touched, like, INR 19,000 crore. That is the kind of number it has already touched. We have taken lot of initiatives and made strategies to improve our retail term deposits and particularly the CASA numbers which are there, retail deposits. One thing is, we have already launched our Project Udaan, which is under the Big Four, under which we are giving very strategic importance and monitoring to the branches and the targets which we have given to the branches for both the CASA and the KCC and also the retail term deposit. That is the first part. Our head office department, resource department, is totally attuned to that, and lot of monitoring and VCs are happening to the field functionally, like the branches, the zonal offices, and also the FGM offices. That is number one. Second is that, we have 69 zonal office and 13 FGM offices. There we have posted one resource, which is the resource RM, which will take care of the resources side in the bank. 82 RMs have been posted for this kind of work. Apart from that, the new initiative, as I said in my speech, is that we have also started the Zonal Resource Center, which we call the ZRC. There, the officer, along with his team, will be posted, and they will be monitoring the branches and also calling out to the customers and moving out in the market to garner new CASA and the retail term deposit. That is another initiative we have taken. We have also identified nearly 1,000 HNI branches across the country. We have 5,500 branches, HNI branches, which will be like for more of business. What are these HNI branches? These branches are which have majority of the accounts, saving accounts, which have average quarterly balance of more than INR 5 lakhs. That is another initiative that we have taken as far as that is concerned. We have our subsidiary, which we call BOI Serve. There we have started Feet on the Street. Asset side sale of products we have already started this year now. We have started in Q1 the liability side also. These are the Feet on the Street who will be moving in the market for opening of saving account, current account, and retail term deposit. That is another new initiative we have taken. Apart from that, we will be building a new sales vertical in the bank, which will be headed by a general manager right from head office, a general manager sitting only for sales and marketing, up to bottom at the branch level. It will not only be for resources. The salesperson, they will also be selling the asset products and also the wealth management product. Basically, we are creating a vertical for the sales vertical in the bank for the first time, where the general manager will be in charge for sales and marketing in the bank for retail products, liability product, asset products, and the wealth management products which are there. Apart from that, we have already opened 200 branches in FY 2024, new branches. 200 branches were opened in this financial year, FY 2026, new branches. Another 200 + branches we'll be opening in FY 2027. These 600 branches, the idea is to garner resources like CASA resources and retail term deposit on one side, loan products like RAM products on the other side, and thirdly, the wealth management products. All these things taken together, all these strategies, will help us in improving our franchise, our strong franchise that we have on CASA and retail term deposits, so that we are able to reduce our cost of deposit, number one, so that we are able to improve our margins in the long term. As far as your other question is concerned, with respect to the CD ratio is concerned, if you see the RBI guidelines which are there as far as the CD ratio is concerned, we have to put money in SLR and CRR. 78%-79% can be the ideal CD ratio, which is there. If you see our CD ratio, it is around 82%-83%. That is because of the fact that the CD ratio is high because obviously there is a crunch of resources which is there. We are having a higher CD ratio. In order to optimize our resources, we have a higher CD ratio at around 82%. That CD ratio is helping us in improving the overall business of the bank. If you see our numbers more granularly on the slide, you will see that the INR 2 lakh delta which we have created on the deposits, total business side, the deposits have grown more than the advances on the YoY basis also. If you see sequentially the quarter-on-quarter basis, there also we have grown more deposits than the advances. We are very cognizant of the fact that whatever accretion of the advances which we do, like we are giving a guidance of around 15%-16% of raising of advances. We are very cognizant that majority of that advances raising will be happening through the raising of deposits, which is through our 5,500 branches. Thank you very much. Thank you, sir. Thank you. We'll come back to you, huh? We'll definitely come back to you. Yes, gentleman, you were to ask a question. Yes. Thank you for the opportunity. Good evening, sir. This is Namit Arora from Indgrowth Capital. Sir, I would like your assessment on any likely impact on credit quality given the recent geopolitical developments, because there may be some lag effect of, let's say, crude price or input costs or logistic disruptions. Since you are a very large institution, would like your thoughts on any potential impact on credit quality. Yeah. The global headwinds which are there presently, so definitely it has some impact. See, we already are seeing that there has been a rise in Brent crude prices, say, at $102 per barrel. Number two, the interest rates are also rising. Another thing is that with the interest rate rising and Brent crude happening, there may be a chance that the inflation may also go up. There are certain rating agencies which are saying that the growth in the country, the GDP may also come down. From a 7% it has been said that it will now come down to 6.9%. RBI has also said that. With all these things happening, there are certain headwinds which are there. The supply chain is also disrupted both for the importers and the exporters. There has been a significant increase in the Baltic Index, which has happened by nearly 2x, 2.5x- 3x. What we see from the media and other kind of things, we feel that a solution will come out very shortly, maybe by the end of this quarter, and we'll be able to tide away with this crisis which is there. If it does not, and if it continues, definitely there will be some headwinds. One thing I can assure you is that this ECLGS scheme, 5.0, which the Government has come announced, it has come in the right time. Whatever the stress which may come into the MSME and the non-MSME accounts, particularly in terms of working capital requirements, because of the increase in supply chain, increase in the cost of their operations and other kinds of things, that will be tided out through this 20% immediate relief which we are giving by way of the ECLGS. Whatever stress which may come, that will get eased out through this ECLGS. There are certain sectors definitely, which is particularly exporters and the importers and also certain segments within the industry like, you can say ceramics, pharmaceuticals, chemicals, which may be feeling the heat of this geopolitical situation in the immediate term. Thank you very much, sir, for your detailed thoughts and all the best to the individual. Thank you. Thank you very much, sir. Thank you. Sushil Choksey, you would like to ask something? Kindly pass on the mic. Congratulations to Team Bank of India for excellent performance. Thanks. Sir, I heard some of your initial comments about growth on deposits advances. Can you elaborate some numbers on ROE, ROA, NIM and your CD ratio? You've already indicated how will you balance corporate and RAM advances. The new initiative which you've taken for deposit mobilization through new zonal office. How are those touch points looking? What kind of growth aspirations are being looked at? Because if that number moves from 37%- 41%, 42% in two years, the bank may have a sizable impact on positivity. This is the first question. Yeah. Thank you so much. Some of the points as far as the ROA is concerned, if you see our ROA, we have now touched in Q4 a ROA of 1.01%. We are above 1% as far as the Q4 is concerned. However, having said that, our overall ROA for the year is 0.93% and it is above the ROA of 0.90% in March 25. There has been an improvement. Because of the net interest income issue, the ROA we could not improve to the desired number, which it could have been, but definitely we have touched the ROA of 1.01% in the Q4. As far as the guidance on the ROA is concerned for the whole year FY 2027, we are giving a guidance that we'll be touching a number of 1% for March 2027. As far as the NIM is concerned, again, as I said in my opening speech, that our NIM is at 2.52% global NIM, which has come down by nearly 30 basis points from 2.82% in March 2025. Having said that, I would like to clarify that as you are aware, we have a very strong international franchise, and 14% of our book is a international book where the NIMs are quite compressed and it is in the range of 1.10%- 1.30%. Our domestic NIM, as far as the domestic NIM is concerned, as on March 26, it is at a very healthy 2.78%. With the kind of strategies which I already said, that, as far as the raising of resources is concerned, that we are very confident that we'll be able to protect our NIMs in FY 2027. Certain strategies which I, which I can elaborate is one of them is that we want to increase our MCLR advances. That is one part. Second part is that we want to increase more of our RAM advances because there the margins are much better. Third point is that we also want to increase our mid corporate advances through our emerging corporate credit branches because again, the NIMs are much better. We are able to get better rate of interest, number one. We are also able to get the non-interest income in terms of better process fee, LC/BG commission and other kinds of things. Apart from that, we are strategizing in this year that we increase our CASA deposits through our Project Udan where we have onboarded one of the consultants over there, increase our retail term deposits so that we reduce our cost of deposits and through the MCLR and other kinds of initiative on the asset side, includes our increase and improve our yield on advances so that we improve our net interest income. These are some of the things which we are planning to do. Apart from that, we also want to reduce our fresh slippages. Once we are able to reduce our fresh slippages further, we have already reduced them to INR 5,500 crore, if you see our presentation in the entire year. We want to further reduce it to INR 4,000 crore in this financial year. If we are able to do that, there will be more earning assets for the bank which will help us increasing the net interest income and finally the net interest margins and overall profitability of the bank. These are the brief thoughts that I just wanted to share as far as the margins are concerned. In the current environment, how are you seeing growth, specifically the visibility on pipeline led by, as India's transforming, a lot of new sectors are emerging, whether it's renewable, data center. Correct warehouses, new roads, maybe a few more states are now being added after election- Correct. for a lot of infrastructure expansion. How do you see a balance between corporate book and RAM? I understand that I'm sure you're targeting 60% and above on RAM. What would be a visible number if we look one or two years beyond? As far as the RAM book is concerned, we are targeting a number of, say, around 62% the RAM book and 38% the corporate book. That is for the strategy for the next three years, for March 2029. That is the strategy as far as that is concerned. Having said that, let me clarify that it does not mean that we will not be growing our corporate book. When we say that 62% will be RAM book in FY 2029 and 38% will be corporate book, our advances will also be increasing, and we are targeting advance of somewhere around INR 11 lakh crore as on March 2029. Which is the number through which the corporate advances will also be increasing simultaneously along with the RAM advances. That is one point. Second point is that we are going very strong as a strategy in the emerging corporate credit branches that we have opened 19 branches, through which we want to increase our corporate advances, which are between the ticket size of INR 50 crore- INR 250 crore. That is another thought that we have, and we want to increase that base, which is there between INR 50 crore- INR 250 crore. As far as the sectors and segment are concerned in the corporate, we have lot of good pipeline which is there. As I said also earlier, that INR 70,000 crore nearly is the pipeline that we are having, INR 65,000 crore- INR 70,000 crore pipeline we are having in the corporate total pipeline that we have as on date when we speak. Out of that, around INR 15,000 crore is in the RAM book. Remaining, the pipeline is with the corporate book, which is around INR 50,000 crore. In that pipeline, we have infra pipeline also, which is roads, which are there. Power sector is also there. Data centers are also there. Apart from that, there is industry which is also there in the pipeline. EV vehicles are there, battery is there, solar panels are there, manufacturing of solar panels is there. Apart from that, some LRD transactions, loan, lease rental discounting transactions are also there with us. Biogas is also there with us. Rare earth metal mining is also there with us. Such kinds of proposals are also there with us, which are already in the pipeline, which are new gen proposals. There we are seeing lot of uptake which has happened, even in the gas pipelines which are there. Some of the transmission pipelines are, which are coming, some of the new road projects which are coming in some of these states. All these put together, we are very confident that the guidance that we have given for this financial year, 15%-1 6% of credit growth we'll be able to achieve. Can we see- Thank- domestic NIM of 3%? Domestic NIM of 3%. Yeah. We are saying that yes, we will have our NIM of somewhere around from present 2.52% at somewhere around 2.70%-2.75% NIM we are targeting guide. We are guiding for March 2027. Domestic NIM, definitely we are targeting to get as close to 3% as possible. Thank you very much, sir. There's one online question which has come up from Mr. Vansh Solanki from RSPN Ventures. He says that we have seen in many other PSU and private bank results that due to G-Sec yield rising, they have increased their discount rate for actuarial valuation of employee liabilities. Thus there was a major decrease in the employee expenses in Q4 in many PSU banks. Have we also done the same? Are we expecting any positive on this in Q1 results? Yeah. Can we share any number presently? Do we have any number on that? I think, our CFO will respond, sir. CFO is there. CFO, sir, kindly pass on the mic to Kumar, sir, please. You have any number with you, or, we can answer it later, whatever you feel. In Q4, we have not taken anything, but for as far as Q1 is concerned, presently we don't have any number. We'll update later, sir. Okay, Mr. Vansh, the updates will be given to you. Thank you. There's one online, person has raised his hand. It is, Mr. Niteen from Aurum Capital. Ganesh, is he still around? Kindly put him through. Okay. Hello? Yes. Yeah. Am I audible? Yes, Mr. Niteen. We are all ears. Yeah, yeah. Thank you so much, ma'am, for the opportunity. First of all, congratulations on good set of numbers. Considering the prevailing conditions and results from other PSU banks, the bank really did a commendable job over here. Especially on the provisioning and NPA front. The ROA has gone past 1% range that you mentioned, which was promised earlier also. The growth remained broad-based, which is very healthy. This is superb overall. I have just two questions, and I'll ask both together, otherwise ma'am will cut me short and may not give opportunity. Okay. The first one is, we have an elevated provisioning versus Q3 from INR 605 crore provisioning to now INR 1,211 crore provisioning. What has happened there? My second question is again related with NPAs only. What is the status of recovery in state PSU and central PSU defaults that we reported earlier? Thank you. As far as the provisions are concerned, I can just share the numbers with you. As far as the quarter-on-quarter provisions are concerned, if you see our presentation, for bad and doubtful debts, the provisions, in fact, from December quarter INR 605, they have gone up to INR 1,200 crores. For the standard assets, they have already they were minus at INR 29, it is - INR 221 because of the non-requirement and the reversal of those provisions. Provisions for before tax, total INR 576, they have gone up to INR 990 crores. That is the provisions as far as the provisions is concerned. Overall provisions, if you see for the year-on-year basis, for the bad and doubtful debts, which is the NPA from INR 4,500 crores, it has come down to INR 3,300 crores. As far as the non-performing investment is concerned, minus INR 282 was there in the last year, and this year there is no impact, no provision on that account. For the standard assets, which is from INR 333 crore minus, it has further got reduced by INR 290 crores. Not much of impact as far as the provision, overall provision is concerned. As far as your next question is concerned with respect to. Central Government State and central PSUs impact is concerned. There was only one central PSU which got NPA in the last financial year, for which we have fully provided also. There will be no impact on the profitability or provisioning as far as that central PSU is concerned. As far as some other PSUs are concerned, which are coming, if you see our slide on the SMA. In the corporate book, it's SMA zero, SMA one and two. There, three state PSUs are there, which are being coming under the SMA category. They continue to move, roll forward and roll backward during the quarter. One thing we are confident that they are having cash flows with them and they will not be slipping into the NPA category. We are confident that we'll be able to protect the asset, the NPA as far as those state PS, three PSUs are concerned. Yes, they will continue to remain in the SMA category with respect to some challenges on the cash flow side. Got it, sir. Thank you. Thank you very much, sir. internal PSU involvement. Ganesh, is Mr. Ajmera still there? He wants to ask, one more question. Yes, Ajmera Ji, are you able to hear us? Kindly put him through. Yeah, I'll take that. I think there is some glitch. Yeah, yeah. Hello, hello. Okay. Okay, sir. Kindly continue. Sir, I mean, most of the questions have already been answered. I have got just a couple of questions and some observations. Sir, the non-interest income, every bank is trying to increase because of this pressure on the NIM, I mean the, and because of the high cost of the deposit and fundraise. Going forward, what plans do we have to increase our non-interest income and recovery from the written-off accounts, which is a major source of a non-interest income, the other income, what is our total return of book, and how much are we expecting in the FY 2027 to recover from that? Yeah. Thank you. As far as the net interest income is concerned, if you see the annual entire P&L of the bank, so we are having a interest income of around INR 75,000 crores. Our interest expense is around INR 50,000 crores, which leaves us a net interest income of around INR 25,000 crores. We have a clear strategy as far as the improvement of this net interest income is concerned, and we are very cognizant of the fact that we have to increase this net interest income in order to improve our overall operating profit in the bank, so that the net interest margins also improve. We have made a strategy as far as the interest income side is concerned, as I earlier said also, that we want to increase our MCLR advances, number one. Number two, we want to increase our advances towards the mid-corporate through our emerging corporate credit branches. We also want to increase our advances in the RAM book, retail, agriculture and MSME, where we feel the margins are much better. That is on the asset side. On the liability side, definitely we want to increase our CASA balances and also our retail term deposit balances outstandings, where we feel that we'll be able to reduce our cost of deposits. On the asset side, we want to increase our yield on advances. Both these strategies together, we are very confident that if we are able to increase our net interest income, in fact, we want to increase our interest income to such a level that the overall operating profit for the bank improves. That is one part. The second part is with respect to the written-off accounts. Yes, we are having a number as far as the return of book is concerned. We have done a recovery of nearly INR 2,500 crore. Yes financial year as far as the written-off accountss are concerned in the bank. This is a healthy number. In the financial year FY 2025, 2027 also, we will be trying to achieve the similar run rate of around INR 2,500 crore-INR 3,000 crore of recovery from these written-off accountss. What is the total- Okay, sir total written-off accounts book? There's one gentleman sitting there. Yes, please. Yeah. Kindly introduce yourself, sir. Yeah. My name is Ashok Sai. I'm from Aclova Invesco Family Office. Sir, this is regarding page number 42 of our presentation. Yeah. Sir, we have some of the subsidiary to create other income source. Correct. If I see that work, we started Demat services in the year 1996 with NSDL and 1999 with CDSL. We have never taken it as a serious business. Again, as a broking, we have not started our broking business like the other PSUs and everything. Similarly, in the insurance sector, we just hold 27%. We are being a 120-year-old bank. Why we are lagging in this space? Because our PSU brothers has done very well and also private sector has done taken a very aggressive lead in this matter and also doing a secured and creating a other income portfolio which is very large. Yeah. Going forward over next five years, what is the plan- Yeah. in this sector? As far as our subsidiaries and this wealth management income is concerned, we have a very clear strategy for the next five years. If you see the last three years also, as far as the income which is coming from the wealth management products of the bank, every year the income, non-interest income has been growing for the bank. Every year it has been growing. That much I can assure you. If you see the slide, in the slide only that you have mentioned, that this BOI Merchant Bankers, the merchant banking activity we are doing, there also we are scaling up. As far as your specific question with respect to the trading account is concerned, Demat account is concerned, we already have two tie-ups with our partners, through which we are offering three-in-one accounts, which is a trading account, a saving account, and also the Demat account. That is already we have started, and already the results with both the partners have started coming. Another important thing is with respect to our subsidiary, BOI Services Limited, which we have now re-christened as BOI Serve, wherein we have started the Feet on the Street and they are onboarding DSAs which are coming from best of the private banks and other public sector banks, and we are selling our products. We have already started selling our loan products through that subsidiary. We have sold a loan book or, you know, the RAM book of nearly INR 35,000 crores through that subsidiary. This quarter we are starting the liabilities product under the Project Udan. Feet on the Street, they will be selling the liabilities product, which is particularly CASA and retail term deposits. Also in the next quarter, they will be starting selling the wealth management products. That subsidiary also has been totally made active and live as far as we are concerned, and we have a very strong, like engagement with that subsidiary, and the next five-year plan is very clear for that subsidiary. Apart from that, you rightly said that even though we are having only 26%-27% in our life insurance subsidiary, but we are one of the key players as far as the onboarding of the insurance, life insurance products are concerned from our branches. Good growth is happening in the SUD Life subsidiary as far as the sale of insurance is concerned. Mutual fund subsidiary, again, let me just tell you, share with you the numbers. Three years ago, the mutual fund AUM was somewhere around INR 3,000-INR 4,000 crores. Today it is at around INR 14,000-INR 15,000 crores. That is the kind of growth the mutual fund AUM has taken place. It is already in public domain that we have already taken one of the consultants as for a process advisor, we want to have a partner over there, an international partner or a domestic partner, good sales AUM partner for our mutual fund. Once that onboarding happens, so you will be seeing much more incremental growth happening as far as the mutual fund also is concerned. We have very clear strategy for the next five years as far as these wealth management products are concerned, because we are very clear that apart from the net interest income, we have to have a very good growth as far as the non-interest is concerned. Only then we will be able to show better operating profit and finally better net profit for the bank. Thank you very much, sir. Can I take one online question and then I'll come to you? Sure. This gentleman is waiting since long. Ganesh, kindly put through Mr. Siddharth R. from Systematix. Gentlemen, thank you for the opportunity. First, congratulations to the whole team for a very fantastic quarter, also, congratulations to Mr. Karnatak for an extension in his term. First, a clarity on the NIM. When you say 2.75% and 3% for domestic, is it the exit NIM that you are guiding? What will it be driven by? Will it be driven by yield on advances or more by cost of deposits? This is first. Second is on your other income. What has driven the higher, technically, higher recoveries in this quarter sequentially? We have this quarter, we have got INR 1,600 crore. What has driven the third-party sales? Third is on the credit cost. This, this quarter we have taken higher provision. I understand we have utilized maybe the higher recoveries that we have got. How will our credit cost be in the ECL period? The impact you have given, but what will be the one-time impact we have, but what will be the incremental credit cost due to the ECL transition? The question is also because there is sharp movement of between the SMAs for us because of the PSUs, but we have to take that credit cost because now in the ECL it's required in stage two. How will the credit cost move for us in the ECL period? Thank you. These are my three questions. Thank you. As far as the NIM is concerned, As I already said that, we are at 2.52% on the annualized basis, for the quarter it is 2.58%. We have given a guidance that it will be somewhere around 2.70% for the entire year. As far as the domestic is concerned, NIM is concerned, presently we are at 2.78%. As I said, for the year ended March 2027, we will be trying to be as close as to 3% as possible. As far as the strategy for improving that is concerned, that is a both sided strategy. As I explained earlier also, we want to increase our yield on advances, number one. Number two, we also want to reduce our cost of deposit so that the overall net interest income improves and the net interest margins for the bank improve. As far as the other income is concerned, other income, if you see in the other income, we have improved our other income by nearly 10% from INR 8,900 crore- INR 9,800 crore. The delta is, say, around INR 900 crore-INR 1,000 crore. Within that, as you rightly say, that the recovery from written accounts, it has improved from INR 2,300 crore- INR 2,600 crore. As I explained earlier in my question that this INR 2,600 crore, this run rate we want to continue, and this year we are expecting that we should be somewhere between INR 2,500 crore-INR 3,000 crore as far as recovery in the written-off accountss are concerned. As far as the SMA is concerned, see SMAs, if you see our slide, we have been improving our SMA numbers continuously over the last three years through our zonal collection centers that we have opened. If you see in our slide also that the SMA numbers has now come down significantly, and I'll just show you the numbers. It was written. 28. 28. Yeah. It is now at INR 4,700, the overall SMA is there, and it is only 0.62% of our total asset book, which was earlier, in March 2025, at 0.92%. That has been the slide as far as the SMA number is concerned. If you see further, granularly over there, SMA one and two constitute nearly 66% and 34% is SMA zero. It is well distributed between agriculture, retail and MSME and not much figure is there as far as the corporate book is concerned. In the SMA it is only INR 3,600 which is there apart from the overall INR 4,700. Relation to the ECL is there. If you see directly this stage one, stage two and stage three, which is there, in the ECL framework, wherein stage one is the standard book and the SMA zero. There you see that we have been able to reduce our overall SMA zero numbers. That is one point. Second point is with respect to the stage two, wherein SMA one and two will be sitting there. Also, if you see the overall SMA number is coming down. This under the ECL guidelines also the provisions numbers will be coming down and with the kind of agility and robustness that our zonal collection centers are performing, we are very sure that we'll be able to further reduce the SMA number so that the overall impact of the ECL guidelines is reduced through the provisionings which are there. As far as the credit cost is concerned and the impact of the ECL guidelines on the credit cost, yes, there will be some impact on the credit cost side because of the ECL guidelines, but we feel that it should not be more than 10 basis points on an annualized basis. Thank you, sir. This is the last question coming up from this gentleman who's been waiting. Yeah. Hello sir, I am Devansh from Motilal Oswal. Yeah. Sir, first of all, congratulations for your fabulous numbers. Sir, I have two questions. One is your CASA percentage, which has been at 37.64%, which is by reduced by, like from 40%, 41% in FY 2025. The question is, sir, are we with all your initiatives which you mentioned, are we able to achieve the numbers of 40%, 41% in coming quarters? By when are we going to achieve that? Second question is, as you said, you are more focused on increasing your RAM book, right? You have a very significant agriculture book of around INR 1 lakh 15,000 crore. Sir, with the monsoon forecast being lesser than expected, what impact will that have on the agriculture book and how are we going to provision for it? Yeah. That's it, sir. Thank you. Yeah. As far as CASA is concerned, you rightly said that as in percentage terms it is coming down and we have now come down to 37.5% in the CASA percentage terms is concerned. However, if you see the absolute numbers, the delta that have, we have created is more than INR 20,000 crore. CASA number we have increased by from INR 280,000 crore to more than INR 300,000 crore. March 26 we have closed. Our, as I said that under our Project Udan, our clear strategy is to increase our CASA in absolute terms. As I said that, there has been a structural change in the deposits in the entire banking system, wherein more of the color of the deposit has changed and more of the resources are coming through the term deposits rather than from the CASA franchise which is coming. Nonetheless, we are still very much confident that the delta that we will be creating in this financial year also, as far as the CASA is concerned, we have set ourselves a target that we should be closing our CASA at somewhere around INR 3.30 lakh crores, which is an increase of around 10% in the CASA number in FY 2027. With that thing in mind, definitely we feel that we'll be able to bring down the cost of deposits. However, having said that, because there will be increase in credit and increase in advances and we said that we have given a guidance of 15%-16% in growth in advances, so we'll have to meet those resources through deposits only. This will be the basic through which we will fund our credit growth, which will be there. And definitely if the CASA growth will be not up to the mark to match the increase in credit which is there, definitely we'll be raising both retail term deposit and the bulk deposits which are there. As far as the RAM agriculture is concerned, as you rightly said, there have been the monsoon will be at somewhere around 92% kind of thing, the reports which are coming. If you see the pattern within the country now, not much of droughts are happening in India. There has been a very good canal network, which is there across all the states. Earlier we used to see that when the monsoon used to go down, there used to be a drought-like situation in some of these states. If you see in the last four, five years, there has been some concern as far as the growth of plantation and other kinds of things is concerned on the agriculture side. Drought-like situations are not prevalent in the last four, five years because of the good canal system which has been developed across all the states in the country. We are very much confident that the agricultural growth that we are showing. This year we had agricultural growth of 17%. This financial year, we are also confident that we'll be able to show that number. Whatever the growth also you are seeing in the agriculture, lot of it also is contributed by the gold loan factor which is there. Gold loan also we are giving. There the yield is around 9% and hardly any NPA is there, any asset quality issue is there in the gold loan. That is one play which is there with us, through which we are able to increase our agriculture book and with a good yield on advances and also protecting the asset quality, and which will finally not impact the overall situation wherein the drought or agriculture rainfall situation is there. This is just one thing I would like to share. Apart from that, in agriculture, we are focusing not much on core agriculture now. We are targeting allied agriculture, which is a clear targets that we have given to our zones and FGMs that we want to increase allied agriculture in agriculture rather than the core agriculture which used to be there, the KCCs and the term loans which we used to give to the farmers. The delta that we want to create is through the allied agriculture. But with the kind of thing which is there, we are very confident that we'll be able to increase our agriculture book and also protect the asset quality. Thank you. Yeah. Gold alone advances are somewhere around INR 50,000 crores. Overall gold loan total. The entire gold loan book is not classified in agriculture. Some of that is also classified under MSME, because wherever the this the borrower is having Udyog Aadhaar with them registration, they are classified under the the MSME category also. That is another thing which is there. There, as I said, that the yield is more than 9% and hardly any asset delinquency is there. The NPA is hardly INR 60 crore something in the entire agriculture book, and as per the SOP we have in case of NPA, within 90 days it has to be sold. Unless and until it is as pure as gold, the entire recovery happens in such accounts. What percentage maybe? Agriculture, gold loan within the agriculture, you are asking? Around 40%. 35%-40% it should be there. Thank you. Thank you, gentlemen. Let us wrap up now. It's been a long time. Thank you very much, MD Sir, and all the Executive Directors present on the dais. Thank you very much for all the analysts who are present here and also those who have joined online. I also want to thank the Concept PR team, the analyst who has taken care of the analyst Namit, Ganesh, and Gaurav, for putting up a good show. Special thanks to Bank's team from travel and hospitality, finance, IT, and of course, publicity and PR. Thank you all. Good night.