Good evening, ladies and gentlemen. On behalf of Bank of India, I extend a warm welcome to all the esteemed analysts who have joined us today in person, as well those who have joined us virtually from different cities across India. We are pleased to announce Bank of India's financial results for Q1 FY 2027. I would like to introduce the Bank of India's management team present for today's analyst meet. Shri Rajneesh Karnatak, MD and CEO, Shri P. R. Rajagopal, Executive Director, Shri Subrat Kumar, Executive Director, Shri Rajiv Mishra, Executive Director and Shri Pramod Kumar Dwibedi, Executive Director. We will now begin this analyst briefing. To start, I would like to invite Shri Rajneesh sir to address this gathering, after which we will open the floor for the Q&A session. Sir, over to you. Thank you, madam. Good evening, ladies and gentlemen. Thank you for your joining us today ahead of our announcement for the financial results for Q1 FY 2027. The first quarter of the year has been marked by a changing global environment. While West Asia uncertainties continue to trade, related developments remain fluid. The Indian economy has remained on a firm footing. Inflation has remained broadly contained. Although the uneven progress of the monsoon and its implications for food prices continue to warrant close attention. Domestic economic activity has remained steady, and the Reserve Bank of India has maintained a supportive policy stance to support growth. These developments have created a favorable environment for the banking sector. The new financial year has opened a steady note. Building on the progress achieved so far, our focus is on sustainable growth, prudent lending, and disciplined execution across all our businesses. My remarks today are divided into three parts. First, being the institutional initiatives, the second being the business, and the third being profitability and asset quality. As far as the institutional initiatives are concerned, to sharpen the market focus and accelerate the growth, Bank of India has established a dedicated centralized sales vertical to streamline the business outsourcing. This functional vertical holds end-to-end responsibility for driving customer acquisition, enhancing business productivity, and boosting the revenue across the streams. The second initiative that we have taken is on complementing. This is the establishment of the Strategic Business Branch, the SBB at Mumbai, dedicated to capturing high-value pool buyouts, co-lending, TReDS business, and also supply chain financing. With the aim to enhance the digital convenience and seamless banking, Bank of India has now offered the virtual personalized debit card in the RuPay segment. Customers can instantly apply for and self-activate the card directly through BOI Omni Neo mobile banking application. The fourth initiative that we have taken is to elevate the user experience. The bank has introduced the BOI Star Choice Current Account, which gives clients the unique capability to select the last seven digits of the account number. The bank has also operationalized the central video customer identification process center in Mumbai, enabling seamless end-to-end digital account opening through the e-platform without manual intervention, driving operational efficiency and a frictionless customer service. Digital banking has taken a leap forward in Kenya. Bank of India (Kenya) mobile banking application is now live, bringing customers the convenience to anytime banking, real-time transactions, and seamless M-PESA interaction. To revamp the bank's existing cash management services, BOI Services Limited is facilitating the proposed mechanism to deploy dedicated field staff on the ground. This on-the-street presence will allow us to leverage the existing corporate relationships, driving through deposit growth and broader business opportunities. As far as the business is concerned, global business has grown by 16.57% on a year-over-year basis from INR 15.06 lakh crore in June 2025 to INR 17.55 lakh crore in June 2026, with an incremental growth of INR 2.49 lakh crore. Global deposits have increased by 14.90% on a year-over-year basis from INR 8.34 lakh crore in June 2025 to INR 9.58 lakh crore as on June 2026, with an incremental growth of INR 1.24 lakh crore. As far as domestic deposits are concerned, they have increased by 16.15% on a year-over-year basis from INR 7.10 lakh crore in June 2025 to INR 8.25 lakh crore as on June 2026. CASA has increased on a year-over-year basis to INR 2.82 lakh crore in June 2025 to INR 3.02 lakh crore as on 30th June, with an incremental growth of more than INR 20,000 crore, and CASA ratio stood at 36.68%. As far as the global advances are concerned, they have increased by 18.84% on a year-over-year basis from INR 6.72 lakh crore in June 2025 to INR 7.98 lakh crore in June 2026, with an incremental growth of INR 1.25 lakh crore. As far as the domestic gross advances are concerned, they have increased by 19.20% on a year-over-year basis from INR 5.65 lakh crore in June 2025 to INR 6.74 lakh crore as on June 2026. RAM advances have also increased by 19.75% on a year-over-year basis from INR 3.25 lakh crore in June 2025 to INR 3.93 lakh crore in June 2026, constituting nearly 54.30% of the advances coming under the RAM segment. As regards the profitability and the asset quality is concerned, operating profit has improved by 25.99% on a year-over-year basis and stood at INR 5,051 crore for June 2026 as against INR 4,009 crore as on June 2025. Net profit has increased by 36% on a YoY basis and stood at INR 3,068 crore for June 2026 as against INR 2,252 crore as on June 2025. Net interest income has also increased by 12.61% on a YoY basis and stood at INR 6,833 crore for June 2026 as against INR 6,068 crore in June 2025. Non-interest income has increased by 19.07% on a YoY basis and stood at INR 2,579 crore for June 2026, as against INR 2,166 crore as on June 2025. Global NIM stood at 2.52% in June 2026 as against 2.55% in June 2025. Slippage ratio has stood at 0.24% in June 2026 as against 0.33% in June 2025. Credit cost has also declined to 0.15% in June 2026 as against 0.17% in June 2025. There has been improvement in the asset quality also with reduction in both GNPA and NNPA. Gross NPA ratio has improved by 111 basis points on a YoY basis to 1.81% only as on June 2026. Net NPA ratio has also improved by 24 basis points on a YoY basis to 0.51% as on June 2026. Provision coverage ratio has improved to 93.63% in June 2026 as against 92.94% in June 2025. As on 30th June 2026, bank's CRAR has improved to 18.69% from 17.39% as on June 2025. Going forward, the outlook for the Indian economy remains constructive, supported by stable consumption patterns, continued public investment, and healthy credit demand across the sectors. However, geopolitical developments and evolving financial market conditions continue to warrant close monitoring. Against this backdrop, our guidance for FY 2027 stays unchanged. Global advances to grow by 15%-16% and global deposit by 13%-14% on a YoY basis. Our approach will continue to be guided by balanced growth with focus on improving our deposit mix, supporting credit demand, maintaining sound asset quality, and making processes more efficient through technology and better customer service. Our Q1 FY 2027 results and investor presentation have been released today provide detailed insights into our quarterly performance, key business developments, and outlook for the remainder of the financial year 2027. Thank you once again for joining us today here. I invite you for your questions. Thank you so much. Thank you, sir. We will now proceed towards our Q&A session. Before we proceed, would request you to kindly raise your hand for the queries. One of our representatives shall hand over the mic to you. Also, kindly restrict to two questions at one time so that the others also get a chance to interact with the management. For further queries, we'll come back to you later if time permits. Request you to please identify yourself and your organization before asking a question. For outstation analyst, please send your questions to Concept PR representative, Mr. Ganesh, on message or WhatsApp. His number is 7738688746. I repeat, 7738688746. You can also mail the queries to ganesh@conceptpr.com. We will now proceed. Please raise your hand for the questions. Hello. I'm Ashok Ajmera. Sir, compliments to you, sir, the entire team of Bank of India for good set of numbers in the first quarter of FY 2027. Sir, the numbers are good. Somehow, we are escaped from whatever is happening geopolitically because we started from 28th of February, that impact is still not been so much visible to us, if you see the numbers and other things. The way the things are going still, off late, have you started feeling some kind of stress in some of the accounts, especially the MSME and the small loans accounts? This ECLGS 5.0, that will give some color of what is the need of the people, how much have they already received the money from you, how much disbursement has taken place, sanction has taken place, and whether more and more people are approaching, which will give a little idea about the stress building up so that the future quarters may or may not be impacted that much. This is just my first testing observation from you, sir. Thank you so much, Ajmera. On the first point, with respect to the West Asia crisis and its stress building up, we have two data points in our balance sheet presentation today. First point is with respect to the SMA numbers, the second point is with respect to the asset quality and the fresh slippages which are there. As far as the SMA numbers are there, if you see our five crore and above SMA numbers, our SMA has now come down to INR 4,070 odd crore, which is only 0.52% of our standard book, which was around INR 4,700 crore as on 31st March, and more than INR 7,000 crore as on 30th June 2025. As far as the SMA numbers are concerned, the collection efficiency remains intact for Bank of India, number one. Our zonal collections are doing excellent work, which is enabling us to reduce our SMA numbers overall. The stress of the West Asia crisis does not seem to reflect over there. As far as the fresh slippages are concerned, there also if you see the fresh slippages have been including the existing debit outstanding, which increases in the existing NPA accounts, has been only around INR 1,800 crore, as against INR 2,100 crore of fresh slippages which had happened in the quarter of the June 2025. There also we have been able to control the slippages. Normally, the Q1 slippages in Bank of India are normally higher than the other quarters, and with the progress of time, the fresh slippages will go down further in the coming quarters. There also we feel that the asset quality has been intact for us. At present, we do not see any much stress as far as the West Asia crisis is concerned, which is getting reflected in the SMA or the fresh slippages. However, having said that, we are monitoring the situation very closely. There are certain sectors where we feel that there has been direct impact, particularly sectors like chemical, sectors like ceramics, and also sectors where import and exports are there, particularly import of oil or gas is there. There we are monitoring the situation very closely. Apart from that, because of the supply chain crisis, which is happening because of the West Asia, there is also increase in the working capital cycle. However, that has been taken care very well by the government through the ECLGS scheme. As far as that scheme is concerned, we have already sanctioned somewhere around INR 6,000 crore under the ECLGS scheme, out of which INR 4,600 crore has already been disbursed. We expect that by the time the scheme comes to an end, which is around INR 2.5 trillion when it will get avail the scheme comes to an end, by that time we feel that around INR 8,000 crore of sanctions and dispersal we will be able to do. The MSME accounts where there is certain stress because of the increase in their working capital cycle due to the West Asia crisis, they have already availed or will be availing the ECLGS scheme that will help them to tide over this situation, which is there presently prevailing. Thank you. Sir, we are one of the large player even in the international markets also, reasonably large. Now with this relaxation in the interest rate by the RBI on the FCNR and the other foreign, other two routes of bringing the foreign deposits, where do we stand there? Can you give some color on that, and what is our overall plan this year up to September and the whole year under those two, three routes which are available to you? How is it expanding our deposit base and at the same time, the credit linked to the money which is coming in, the leveraging. Can you give some color on that where do we stand as far as Bank of India is concerned on that? As far as the FCNR is concerned, we have ourselves set a target of around $1.2 billion that we will be mopping up under the FCNR. In that, we have a very robust mechanism. We have an international presence of more than 15 countries, number one. Number two, as far as our AD branches are concerned, branches which are enabled to take FCNR and NRI branches all put together are somewhere around 250, spread across all the entire country in the 13 FGMs. Presently as we talk, we have already garnered more than $200 million of FCNR deposit. Our target is to achieve the number of $1.2 billion by 30th September. We are seeing this deposit coming from across the globe, whether it is USA or Canada, whether it is in the four countries in Africa, whether it is Europe, particularly U.K., whether it is in the East Asia, whether it is coming from our Singapore or Hong Kong or Japan. We are seeing this money coming from across the globe as far as that is concerned, and also within the country from all NRI segments in all the 13 FGMs which are there. We have our product which is up to 9x the leverage we will be giving. That is the product that we have got approval from our board that we have already rolled out, and we are marketing that leverage product also. We are offering these products at, for a three-year FCNR we are giving 6.25%. For a three-year to four-year FCNR term we are giving 6.30% and for the five-year we are giving 6.50%. Presently if you see the bulk deposits we are getting at somewhere around 7%, and if you even see the gap which is there for the five-year FCNR at 6.5% with the hedging cost being taken care by the RBI. We are getting a clean spread of around 50 basis point even on that five-year deposit. Definitely there is some gap for us and attraction for us, and there is no CRR, SLR also to be maintained on those deposits. Definitely there will be certain cost benefit analysis for us, and the cost of deposits will be coming down for the bank on that account. The last one, sir, in this round. Treasury has contributed very well in this quarter because of the revaluation and also the profit. The overall, everybody has made some good money. Now going forward, the yield movement is again getting adverse. Do you think that we will be able to maintain and then if not, how do we compensate on the profit in the coming quarters so as to improve from this quarter for the next three quarters of the year and we stand benefited or may be stand improved in the overall for the financial year 2027? When the repo rate will increase, if the RBI increases the repo rate, definitely with their 60% of our book is through the repo External benchmark. There we will be able to earn better interest income for the bank. The NIMs will improve as far as the interest income is concerned on the loans and advances. In that situation, typically, the investment will be under stress, the investment book will be under stress or vice versa. Many things are not in our control in that manner. One thing that we are trying to do is that we want to increase our advances in a very secular manner. We want to grow our RAM advances in retail, agriculture, MSME, we want to grow our mid-corporate book, we want to grow our corporate book. We also have international presence. We also want to grow our international book, and we are also growing our co-lending pool purchase, supply chain financing, and also our TReDS book. We are trying to grow in a very secular manner as far as our rate book is concerned, so that any impact which is there in any particular geography sector or segment, we are able to obviate and mitigate that risk as far as our credit book is concerned. Thank you. Thank you very much. Yeah. Rajneesh Ji, Manoj Alimchandani here. Congrats to you and your team. Excellent performance record. In fact, better than most private sector and public sector banks so far. Excellent. Thank you. One can see in slide number six, slide number seven, and also the other income, record-breaking performance. Couple of questions. How do we see our business in GIFT City, our plans for that and growing up, and huge transactions are happening in GIFT City. One is that. In slide number seven, we have done excellent performance across all verticals. It is not just corporate loans. Each vertical we are done a record-breaking performance of 20% and above, apparently. Somehow, gold loans is not mentioned here. What is our strategy for gold loans and scaling it up? Because it is a product even public sector banks have started offering, and huge effectively risk-free opportunity. Do we have any business? I know we have, but type of plan scaling up and the kind of growth expected. These are a couple of things. Ashokbhai always, he already asked on FCNR. I see, I personally visited a London branch. You have over 25 years, 30 years, 40 years experience internationally. In fact, Bank of India was the foremost bank with global operations. When we see the finance minister's target, initial target or revised target, our $1.2 billion is nowhere. Actually, we should have 5%-7% share of the target given by the finance minister. Even RBI governor is pushing, because this is a time we need to stabilize the rupee, and also take opportunity in this international uncertain period to do it. I am sure your $1.2 billion is very conservative. If you can share, and if possible, what is our plans region-wise and continent-wise? We are across effectively all continents, and this is opportunity to even grow. Lastly, I know informal consultations have started on PSU banks mergers. I am saying informal. Your thoughts on that. Ultimately, we need to have globally sized banks, and we have the leadership in that. Last time we were left out. I know we can do not only acquisition financing, but also acquire banks in the consolidation process. Would like to have your answers in detail. Thank you. I will go in the reverse order. As far as the merger part is concerned, we have no comments. There has been no discussion with us. It is only for the government to answer this question or the RBI. We have no comments on that. Second, as far as your point is concerned with respect to the RBI circulars with respect to FCNR, OFCBs, MTN also with respect to the ECBs, yes, $1.2 billion is our target that we have set for ourselves, and we are very confident that we'll be achieving it very quickly. That is not any issue with that. Apart from that, we have also set ourselves a target that we'll be raising around $2 billion, as far as the OFCB and the MTN is concerned. That we will be doing. As you are aware, for FCNR, the RBI window is up to 30th September, and for OFCB and MTN, their window is up to the 31st December 2026. Another $2 billion we will be raising it through that, so dollars will be coming into the country through that also. The third opportunity which is there with us from the RBI circulars is with respect to the ECB. There also, in four to five accounts, we have already given in-principle approvals of around $500 million, and we are very confident that there also, we will be doing around $1 billion. Put together, we will be somewhere around $4.3 billion by the end of 31st December with FCNR, OFCB, MTN, and the ECB, which is there. As regards our strategy in the GIFT City, yes, GIFT City is our key strategy as far as lending is concerned. There, very good book is getting created. In the present situation also, if I tell you our corporate pipeline is somewhere around INR 70,000 crore as we speak, which includes our pipeline for domestic corporates and also for the international corporates put together. Some of it in the international side is coming from the GIFT City itself. We have a very strong strategy as far as the GIFT City is concerned. As regards the gold loans are concerned, we have a book of somewhere around INR 57,000 crore as on 30th June. The yield in that is more than 9%, somewhere around 9.10%. If I give you the color on the asset quality there, the NPA is less than INR 100 crore. We have a very clear strategy, SOP, as far as the realization of these NPAs are concerned. After giving three notices, within 90 days, we sell the gold and realize the money. Our gold loan book is performing very nicely, and we are growing also at a very good pace in the gold loan. Gold loan is one of our clear strategies as far as growth in the RAM advances are concerned. Thank you. In the gold loan, under INR 57,000 crore currently. What is our growth number, if you can mention? Second thing is on that FCNR. You mentioned the rates and the spread also of 0.5%, and you mentioned about leverage. If you can mention a number of times leverage to your international branch, because we know the leverage offered by foreign banks and IDBI Bank also. We would like to know how does it compare. The approval from the board on the leverage we have taken at 9x. We have a matrix for that. Maximum we will go up to 9x. That is as far as the leverage is concerned. Deposit, I have already told that we are giving deposit at 3.2, 6.25, 6.3, and 6.5. That is the thing which is there, 9x is the leverage that we are giving. The growth in the gold loan is somewhere around 25% on a year-over-year basis. Great. Excellent. Keep it up. All the best. Thank you. Thank you so much. Hello? Here. On the front row. Congratulations to Team Bank of India for excellent performance. Sir, looking at your numbers, the guidance and the actual performance is a big mismatch. You may say I would outperform the guidance, but the team capability, the cash position, the credibility of the banking team, not only yourself and your DA's team, but the rest carries much more better weightage. Taking Manoj's question and many other aspects, bank may be at a better position if any question arises of FM taking a decision. This is my judgment. Now looking at $4.2 billion which you are raising, speaking to one of our CGM in the past, he said in the last scheme of FCNR, out of $34, only $6 billion was leveraged, $28 was direct. Taking that question first, what is our estimate that we will be leveraging what portion of $1.2 billion and what would be a direct deposit? Because direct deposit is more of your existing customer or the customer who is going to be sticky. The flipper will come for one time. Yeah. It is rightly said. It is a very technical thing on the FCNR. To give you more sense, see, we have more than 3 lakh NRI, PIO, and OCI customers with us at Bank of India platform. We have a very strong franchise as far as the NRI customers are concerned. We are very confident that quite a few, even today when we speak that we have INR 200 billion already garnered in FCNR, majority of which is in the core FCNR deposit and leverage much is not there. Going forward, we definitely expect that some leverage will be happening. Because already certain discussions are there with some of the large HNI customers we are having that who are seeking leverage from us. The leverage, as I said, maximum we will be giving around 9x. This is the leverage that we will be giving. Nine is understood, but it is a matter of spread, which all of us know, and the USD demand is tight. Right. The spread has reduced compared to what was initially offered. Exactly. It may be different in a month. It may be different today. Yeah. I Yeah, go ahead, sir. Yeah. Spread at this juncture, I will not be able to detail because, see, we have to take the borrowing part also. The borrowing rates also, you are well aware about the international market also. These rates are also constantly changing and it's a moving target. What is the gap as far as the leveraging is concerned on the rate side, on the interest rate side over there. At this juncture, we'll not be able to tell, but definitely we are targeting leverage also. Sir, I will start in reverse. Your international book looks promising. Business prospects for India are getting better from constraints which we led or the country needs more export, more manufacturing. How are you seeing traction besides Gift City in the geographies where you are present for local as well as domestic business, which is intra, means local to global? Yeah. As far as that is concerned, if the pipeline, if you see for Bank of India, if I can tell you. See, we have presently pipeline of more than INR 1 lakh crore in the entire loan book of the bank, which is a very secular loan book. If I tell you the corporate and the international book, the pipeline is somewhere around INR 70,000 crore. Remaining pipeline is with respect to our RAM advances digital book and also the pool purchase, pool lending, TReDS, and supply chain financing. That is the kind of more than INR 1 lakh crore of this pipeline that we are having. Within that, we have a very strong pipeline in the international book also. It is not only in the Gift City, but also in our main centers, major centers like New York, like London, like Japan, and also in Hong Kong. These are the centers, Hong Kong and Singapore, from where good pipeline. This pipeline is coming not only from Indian corporates but also local corporates over there. We have a very strong pipeline in the international book also is concerned. If you see our numbers in this quarter, for the first time, we have touched more than INR 2.5 lakh crore of international business. In fact, we have closed at around INR 2.56 lakh crore. In the coming time also, we are very confident that we will be able to build the international book. In that, you may not see a very high delta because as a strategy, what we are trying to do, we are trying to improve our NIMs in the international side also. If you see our presentation, around 32% of our international loan book is trade finance, where the margins are very less. We are trying to now replace this trade finance book with the Indian corporates and domestic corporates. Sir, looking into business prospects, I have no doubt that you will outperform the market, majority of them on outperform. To make enablers in place, one is your digitization, second is your human resource, the talent which is there, which may stay with you if you take care of them in terms of quality, giving them training, giving them right locations, and energizing this bank to the next level from where it is today. What is our spend? How are we investing in that human resource that they become the leaders of tomorrow too? We are taking lot of things for transformation part as far as the entire organization structure is concerned. In HR, we are driving that Starlight program, which is for upskilling and reskilling our present workforce, not only the officers, but even the clerical staff and also the sub-staff. There we are doing lot of work as far as the reskilling and upskilling is concerned and building capabilities within our staff and also do succession planning. A lot of courses have been started, mentor-mentee programs have been started, coaching has been started, and we are sending our staff to not only domestic key centers, coaching centers, and training centers, but also at the international centers. A lot of work and effort is being made to have. We have a slide also this time on the kind of work we are doing on the learning and development part as far as the HR part is concerned. The technology part, again, I would say that we are spending much money as far as the IT, digital and cybersecurity is concerned. The IT part, lot of money is being spent on the digital now. Our loan operating system is also well established and we are seeing the results coming out of that. Majority of the sanction, at least 22% of our now the entire domestic book in the domestic credit is now digital sanctions. Apart from that, now analytical sanctions are also happening, where the data lake project is there, where the leads are going from that data lake projects. They are flowing into their CRMNext package. CRMNext, they are being pushed to the branches for the existing customer. There if you see our slide, there also we have built a business of more than INR 18,000 crore. A lot of efforts have happened on the IT side also on building the AI capabilities, digital capabilities within the bank. Now the time has come for us after spending so much of money that we want to have this technology transformation and have this automation and get the business out of it. Already we have started seeing the business, and now is the time to ramp it up and grow that business. Sir, stock market is. Sir, would request you, because we have many questions coming online also. We'll take two, three online questions. Good evening, sir. I have a question. Sorry. Sir, can you just give me two minutes? I'll just take few online questions also, which are coming in. There's one from Lavish, Morgan Stanley. He's asking, how should we think of PSL income in further three quarters, this quarter base being INR 277 crore? Second question is, any reversal of provision for AS 15 since the reversal was not done in the last quarter, while other banks did it in last quarter? AS 15 will not be doing. Yeah. As far as the PSL is concerned, we have got a very good income of around INR 277 crore in the Q1 in PSL is concerned. At the pace at which our RAM advances are growing, our retail, particularly our retail, this MSME and agriculture advances, we will definitely have a opportunity of doing some PSL in the ensuing quarters of Q2 and Q3 also. We are definitely in line with that. Number presently at this juncture we'll not be able to give, but definitely we will have some leg room to give some PSL in the coming quarters, yeah. As far as the AS 15 is concerned, we have at present no plans to go for that. Thank you. Great. Thank you, sir. We have one more question from Niteen, Aurum Capital, Pune. He has sent many congratulations for an exceptional cost control that brought ROA above 1%. What would be your guidance for ROA, NIM, and CIR for the financial year? While we have it on the similar lines in Q2 as well, also will we be able to hold 2.52% NIM and CIR at or below 46.3%? As far as our guidance for the ROA is concerned, see, our guidance remains the same what we had given after the March results. At that time also, we had said that in the Q4, we had reached the figure of 1.01% of the ROA. This quarter, we have also touched the 1% mark, and our guidance continues to remain the same, that we would want to have a 1% and above ROA in FY 2027 on a consistent basis, quarter-on-quarter basis. That is as far as the ROA is concerned. As far as the NIM is concerned, NIM, it is at 2.52%. Definitely NIMs are under challenge with the present interest rate scenario which is there and also the situation which is there because of the West Asia crisis. Our guidance for the global NIM is somewhere around 2.55%-2.60% for FY 2027. As far as the cost-to-income ratio is concerned. This quarter has been very good as far as the cost-to-income ratio, and we have been able to show it somewhere at around 46%. On this FY 2027, we should be somewhere around 48%, 49% on a consistent basis. His second question is, yields have compared more than cost of funds. What will be the trend for the year? Yeah. As far as the yields are concerned, if you see our cost of deposits, they are now coming down, and we hope that this cost of deposit will continue to remain the same. In fact, we'll be able to reduce some of the cost of deposits with certain strategies where we are following in increasing our RAM advances. We are trying to increase also the retail term deposits, which is there. Both these things together, and also the FCNR deposits that will be coming, will helping us in reducing the cost of deposit. As far as the yield on advances are concerned, there we feel that there will be a pause in reduction, and from there, we'll be able to grow that yield on advances. For that, we have already again strategized certain things. One is that we want to grow more of our MCLR advances, number one. Number two is that we want to grow some of the mid-corporate advances through our emerging corporate credit branches, which are 19. We are targeting over there INR 25 crore to INR 250 crore kind of advances, where we feel that the rate of interests are better, the LC/BG commissions are better, which gives us non-interest income, and the process fees are also better, which again give us the non-interest income, which help improving the overall operating profit for the bank. Also, we are trying to re-strategize our international book and want to reduce our trade finance in the international book, where the margins are very low, and substitute it with, as I said earlier, through our domestic corporates, local corporates, and also the local corporates at the overseas center. That as a strategy, we will be trying to improve our cost of deposits, and also increase our yield on advances. Thank you. Yeah. Good evening, sir. Over to you, sir. Sir, in your retail loans, year-over-year you have done very well on your home loans, vehicle loans, et cetera. What is the reason when your personal loans have only grown 3%? What are the challenges? Personal loans, we have put certain guardrails as far as the personal loans are concerned. After seeing the industry, we felt that the low-ticket personal loans are at risk. That is one thing. Another thing that we were seeing is that the non-salaried personal loans were also creating some issues as far as the industry was concerned. We have put certain guardrails as far as that is concerned. We are more concentrating on service sector as far as the personal loan, and where the salary is coming to the Bank of India accounts with nudge mandates and other kinds of things. With these guardrails, there has been some de-escalation as far as the personal loan book is concerned. We are very mindful of the fact that we need to also protect the asset quality. With this present crisis which is going on of West Asia and also the thing which is there with the problem with the monsoon, we feel that it is better to be very watchful and monitor the situation. Second question, sir, is on your credit cards. You have namely RuPay Select, RuPay Platinum, and Visa Gold International. How much did you add year-over-year the number of credit cards? Visa was last year. Exactly. Mishra Ji, we have the numbers. In fact, we have revamped our credit card offering entirely last year. The systems have been set now. Since the systems have been set properly, now we intend to increase it. The target which we have set is to have a credit card base of 3 lakh by end of FY 2027. Thank you. We'll take one question from the online. We just have time left for two, three questions more, so I'll just take one online and then we'll take one more from the audience. The question comes from Dheeraj. Given the significant improvement in the Bank of India's financial performance and balance sheet, do you believe the investment community fully recognizes this transformation? If not, what do you think investors are overlooking, and how does management plan to demonstrate that improvement is sustainable? See, we as a Bank of India platform, the top management, which is sitting here on the dais and off the dais, we are very clear that we want to make a very strong bank with a sustainable growth, and which delivers as far as the top line is concerned, growth is concerned; which delivers as far as the profitability is concerned; which delivers as far as the key financial numbers are concerned; and also improves the asset quality of the bank. With all these things being there, definitely the investment community will have a look at the Bank of India and its platform and the numbers that we are giving. We are trying to follow the process. We are trying to improve our processes. We are trying to do better and better in each quarter. It is for the investment community to decide versus the numbers and to take a call. Thank you. Yeah. Hello. Yes, sir. You can go ahead. Three questions. First question, your CASA deposit ratio has come down by 3%. Your retail term deposits have come down by 3%. Still surprisingly, your cost of deposits have also come down by 15 basis points, which can you just explain as to why it happened? The second question is, you have reduced your ATMs by 300 number. Is it a conscious decision or it was part of the strategy of using other people's ATMs? The third thing, you have Bank of India Mutual Fund. Why don't you do a public issue like others have done, and probably 49% can come to public? Thank you very much. Yeah. As far as your first question in the CASA is concerned, yes, you are right that there has been a reduction of around 3% in the CASA percentage. Similarly, 3% reduction has also happened in the retail term deposit is concerned. As I said earlier, now we are focusing. We all know that there has been a structural change as far as the saving pattern is concerned in India. People who are saving deposits are customers. They are investing also in equity, in mutual fund, in insurance products, and also in other wealth management products like gold and real estate and other kinds of things. We are very mindful of that. The traction that which we are seeing is that there is lot of traction in fixed deposits up to INR 25 crore. There we have a campaign. We have garnered lot of deposit between the INR 3 crore and the INR 25 crore bucket. There we see the rate of interest is much finer than taking a bulk deposit of, say, INR 500 crore or INR 1,000 crore or INR 750 crore. There is another strategy that we are doing, and all these strategies put together have helped us reduce the cost of deposit. Another point which is there, which is something very important to see, is that our credit growth is very robust, not only in the domestic platform but also in the international platform. We have to raise resources and we have to raise funds to support that credit growth. To support that credit growth, we have been taking bulk deposits which are above INR 3 crore also. In order to do that, obviously this percentage of CASA percentage and the retail term deposit percentage has come down. Nonetheless, we are trying to optimize our cost and increase the yield on advances so that the overall impact in the net interest income and the net interest margins remain stable for us. As far as the second point is concerned with respect to the ATMs, yes, we have rationalized some of the ATMs. Our ATMs are both in the OpEx and the CapEx model. In some of the CapEx models where we've thought that these ATMs were running into losses, much hits were not there. There we have clearly moved out of those ATMs, and that is why you see that there has been reduction in the number of ATMs. That is part of our cost optimization strategy also, which has helped us to also reduce our cost to income ratio. As far as the mutual fund is concerned, yes, our mutual fund present AUM is somewhere around INR 16,000 crore, INR 17,000 crore. It is yet a bit far off to go to the market and raise the funds because we are very clear that we need to grow the AUM further before we hit the market. At this moment there are no plans, but at the right time, definitely we may plan. Thank you. Thank you so much, sir. We would like to now conclude this gathering. For any further question, please do send it to the. I have a quick question if. Ma'am, do we have time? Sir, do we have some time? 10 minutes we'll take. I have a quick question. Yeah. A quick question if time permits. You can always meet us and then ask whatever questions you want to ask or a cup of coffee. Anyway. You all are here only. You all are here. You can always meet. [Foreign language]. Thank you so much. Thank you for joining. Thank you. Thank you so much, everyone. Thank you so much for joining. Thank you, Rajneesh sir and Bank of India's management team. Have a good day.