Hi, good afternoon, everyone. On behalf of Antique Stock Broking, we welcome you all. We have on the Canara Bank management team, Mr. K. Satyanarayana Raju, MD and CEO, sir, Mr. Debashish Mukherjee, Executive Director, Mr. Ashok Chandra, Executive Director, Mr. Hardeep Singh Ahluwalia, Executive Director, along with senior members of the team. Thank you, sir, for giving us this opportunity to host the call. Without further ado, I hand over the call to MD, sir, for his opening remarks, post which we can open the floor for any Q&A. Thank you, over to you, sir. Not audible. Not audible. Hello? Hello. Can you hear me, sir? You might. Is it audible now? Yes. Yes, audible. Can you hear me, sir, now? Yes. Yes, sir. Yes, sir. Good evening to all of you, all the well-wishers, investors, and analysts. June, for the quarter June current year, our Canara Bank global business has grown year-on-year at 9.38% and stood at INR 20.80 lakh crore. Our gross advances have shown a 13.27% growth year-on-year and stood at INR 8.87 lakh crore. We have recorded our highest operating profit and net profit, with a profit, year-on-year growth rate of 15.11%. Our operating profit stood at INR 7,604 crore, and our net profit has stood at INR 3,535 crore with a year-on-year growth rate of 74.83%. This high operating profit and net profit is possible with our net interest income growth of 27.72% year-on-year and stood at INR 8,666. Our RAM credit has grown at 12.89% year-on-year. It is in line with our total advances growth, so that we could maintain our cost, the corporate and the RAM, the percentage of 45% and 55%. Our gross NPA has come down to 5.15%, with an year-on-year decline of 183 basis points. Our net NPA has come down to 1.57%, with an year-on-year decline of 91 basis points. These two things we could achieve it, with our PCR is crossed 88%. This is an improvement of more than 350 basis points. Our RAM sector growth, led by our gold loan, has improved, at 30%, almost recorded a 30% year-on-year growth and stood at INR 1,29,800 crores. Our retail credit has grown at 10.64%. Within this retail credit, our housing loan is the major component, which has grown at year-on-year, 13.64% and stood at INR 85,884 crores. Our return on equity, it has now the reach to the 22.95%, with an year-on-year improvement of 662 basis points. Our cost to income ratio has gone down to the bottom, almost is the best so far in the last several years, that our cost to income has reached to the 43.61%, with an year-on-year improvement of 115 basis points. Our return on asset almost reached to the 1% and stood at 0.99%, with an year-on-year improvement of 34 basis points. Our CRAR is maintained continuously above 16%, whereas the peer banks are at 14% to 15% base percent. Our net interest margin. The last year, the cumulative NIM is 2.92%. As against that, our NIM in the current quarter, we could maintain at 3.05%. These are all the few features, what we could share it with you, now, the open dais is open for you for interacting. I am having with, along with me, our Executive Director, Shri Debashish Mukherjee, sir, and Ashok Chandra, and Hardeep Singh Ahluwalia. It's the dais is open for the interaction, sir. We are open for answering any of your queries or the clarifications. Okay, we have our first question from Mona Khetan. Please go ahead. Yeah. Hi, sir. Good evening. Thank you for taking my question. Good evening, Mona ji. Hi. I just have two questions, sir. Firstly. Little more, voice is low. Little more. Is it better now? I'll try to understand. You tell me, madam. Okay. I just wanted some more clarity on the gold book, which stands at about INR 1.3 lakh crore today. How much of this would be agri versus non-agri? What would be the yields here? If you could just give some color on what sort of network is also enabled, the branch network is enabled for gold lending versus, you know, a couple of years back. Thank you. Yes, madam. Actually, gold loan portfolio, our average yield is around 8.80%. In addition to that, whatever the, it is an interest yield, whatever I am speaking about that, our total out of this is, majority is from the agriculture lending. The reason is our composition of the branches is 60% is in rural and semi-urban. The urban and metropolitan, our gold loan contribution is comparatively is less. There, we are getting on an average, around INR 7,000 is under the retail and INR 4,000-5,000 under the MSME. These two are there. If you remove that, the remaining entire portfolio is agriculture. How we are able to establish this growth is just doubling that in 3 years. We have identified certain pockets where we felt that there is a very heavy potential is there. We have identified such almost 500, near to the 500 jewel loan shops. We created within the branches separate cells. It is equipped with the staff and the machinery. These jewel loan shops have been given with a quality testing machines. These people will be exclusively for delivering the gold loan product. That has helped us in. Actually, the gold loan, whenever you want, any customer comes, they comes for raising the loan against the gold only when it is an emergency. The TAT matters for the growth. That TAT we addressed by creating an exclusive counters in various branches. Not only these 500 branches, in other, almost, 1,500 to 1,600 branches, also separate counters have been created to address this and to promptly, respond to the request of the customers. That has created a confidence among the public, and, whatever the growth is there, now it is a walk-in growth, madam. Okay. While you said majority of the book is agri gold, what would be the percentage, if I may understand better? That's what, madam, around 85% will be the agriculture gold, madam. That's the reason. Okay. The majority of this gold loan portfolio we raise, we see from the, our 60% of rural and semi-urban. Got it. When I look at your network of 9,600 plus branches, how much of it is enabled for gold lending, if I may understand? Actually, our 9,200 branches are retail branches, sir, almost more than 6,000 branches are opened for that, lending to the gold. The gold loans in the North sector is minimal, because there, the, it's picking up will be, it's taking, but there is a growth. When you look at the volumes from the South India and the North India, there is an ample difference. The majority of the business, what we are getting out of these 130,000 is around 80% is from the South India, madam. Got it. Just one final point on this: if I have to look at 2 to 3 years back, what would be the network, against the 6,000, which is today gold-enabled for you? Almost 100%, we doubled that network, madam. It was say about INR 3,000? Earlier it was around the INR 3 thousand, now we increased it to INR 6 thousand. Got it. Just one last thing on the provisioning side. Apart from your PCR provisions and or NPA provisions and general provisions on standard assets, what else do we hold on the prudential side, if anything? Standard Prudential Provisions. Actually, whatever the stipulated provisions, beyond that, generally, they are under the regulatory requirements. Based on that only we follow that provisioning. NPA, within this quarter, whatever the quarter we are telling that, in this, we have provided more than INR 800 crore beyond the requirement. Mm-hmm. The stipulated requirements, more than that INR 800 crore, we have provided that to strengthen our PCR. Every quarter, almost, we are doing that to strengthen our PCR, historically, our PCR compared to other peer banks, we are at lower side, so we want to, till we reach at par with other banks, we continue to provide these additional amounts every quarter, to see that our PCR crosses 90%. Got it, sir. Thank you. I'll come back in the queue. Thank you, Mona ji. Thank you. We have our next question from the line of Mahrukh Adajania. Please unmute yourself and go ahead. Mahrukh? Hello. Hello, sir, can you hear me? Yes- Hello. Mahrukh, Madam. Mahrukh ji, you can speak. Hello, sir, can you hear me? Yes, madam, I can hear you. You can tell. Hello. Yes. Sir, my first question is on your margin. Your margin is improved slightly in the Q1, but your deposits have not grown because your liquidity is good. When your loan growth actually picks up in the busy season, and you will have to mobilize much more deposits, how do will your margins behave? Will you be able to maintain margins given that yields will now be stagnant, or will margins fall if deposit mobilization increases? Madam, you are aware about that our CD ratio, earlier, it was only 73%, and there is a scope to go up to even 78%. We have given in the starting of the financial year that our CD ratio, what we are looking at, is 75%, and we are moving on that. With keeping that, we expect that our credit growth will be much higher than our deposit growth. The first quarter-on-quarter also, our deposit growth is, madam, it's there around 1% to one point above the 1%. It's not that the Q1. There is a growth in the deposits, but that has impacted that. The, whatever the higher cost of deposits, all our existing deposits have been repriced, and there is no such pendency at our level. Future, whatever the growth, still in our existing system, there is a cushion for us to expand our CD ratio. That is a one plus point for us. The second plus point is, we have taken enormous number of initiatives targeting the CASA. On the first working day of this current financial year, on April third, we have taken several initiatives aiming only for the focus on the CASA and the liability products. This CASA, we have introduced the first time in India that, targeting a salaried class by offering a term life insurance from INR 1 lakh to INR 6 lakh, depending on their gross salary, in the form of 4 products: silver, gold, diamond, and the platinum. Our earlier, before commencing this product, before launching this product, our entire bank, the salaried class customers were around INR 11 lakh. By introducing this in the Q1 itself, last three months, we got a traction. We could onboard more than 310,000 customers who has opted Canara Bank accounts as their salary dispersing accounts. The second one is non-salaried class. We also introduced a select product with free of 0 charges, and that is also for non-salaried class in especially urban and semi-urban areas. That has got a good traction, and we could onboard in the last 3 months, more than 70,000 such. In these accounts, average balance will be little high, and those customers have opened more than 72,000-73,000. We also introduced a relationship manager concept from 1st July onwards in 5,000 top savings bank concentrated branches, covering 80% of high net worth individuals of our bank. This also, we feel that it will support our CASA efforts in the coming quarters. You can look at that the Canara Bank could maintain even under such circumstances, that we could maintain further deterioration we could not see in the CASA, because in savings bank, even quarter-on-quarter, we could see a more than 1.5% growth. The overall CASA, it is stagnated in the last quarter, but if you look at the savings bank growth is around 1.68% growth is there in quarter-on-quarter, Madam. These initiatives, in addition to that, whatever the term liability, the term deposits growth, and we also launched the recurring deposit, aiming for a INR 1,000 crore target. Several initiatives have been taken. These things will compensate our interest rate expenses. I agree with you that there is a stress on interest expenses, but we are confident that we can manage our NIM at 3% and little above the 3%. Okay, that's so helpful, sir. My next question is really on loan growth. You think you'll be able to maintain 13% loan growth, or it could get higher in the busy season on a year-over-year basis? From my side, sir, Madam, from bank side, we have given a guidance that this year we show a growth of reasonable growth of 10.5% in the loan growth. When I interacted last time with all of you, we have told that, informed you that we are expecting our credit growth will be between the 12%-14%. Generally, you are all aware that in the Q1, the credit growth will be little comparatively sluggish when you compare with the remaining quarters. In the Q1 itself, in the domestic credit, we have shown more than 3% growth. Even if you take that 3% into four quarters, what we have promised is already achieving it. The remaining is, we are... This much I can tell you, that whatever the growth rate we have shown to you, that will be a minimum growth rate. Okay. Sir, I just have one more question on PSLC. PSLC income usually comes in the first quarter, or it will come through all quarters? Because it's big, obviously. No, madam. No. No, madam. Generally, in every year, PSLC, in the first quarter, you get a higher margins. Generally, the banks prefer to take the advantage in the first quarter. Second quarter, something will be there, but not in line with the first quarter. Okay, third, fourth, nothing much, right? No, nothing much, madam. Nothing much, very nominal amount. Okay. Okay. This is kind of reflect the full year PSLC income also. Yes, madam, definitely. Okay, sir. Thank you so much. All the best. Thank you, madam. Thank you. We have our next question from the line of Sridhar Sivaram. Please unmute yourself and go ahead. Hello? Yeah. Thanks. Sir, can you hear me? Good evening, Sridhar Ji. Good evening. Sir, my question is more to get some guidance from the management on how we should look at the numbers for the current financial year. One is operating profit, you've grown at 15% roughly in the Q1. Is it fair to expect operating profit growth somewhere in the range of 15%-16% for the full year? The second one is on the provisioning, roughly about INR 2,700 crore of provisioning for the first quarter. Should we expect around INR 10,000 crore full year provisioning numbers? Sir, one is first one is. Operating profit. Operating profit, sir. Operating profit. Operating profit, last year, we could show 20%, sir, but this year, because of that high interest rate regime and the interest expenses for mobilizing the deposits, there is a stress on our margins. That's why we could show only 15.11%. We expect that in the current quarter also, the stress will continue on the interest expenses. The next, we may, in the liquidity, once in the system, liquidity improves, in the Q3 and Q4, we may see slightly decrease in these interest expenses. We expect that at this moment, a double-digit, we are confident that we can manage the double-digit growth, but our endeavor is to maintain that what the present growth we have shown that. And provisioning- The second one is regarding the PCR. Second one is the PCR, the provision coverage ratio, you ask, sir? No, it is, no, I asked the absolute- Provision, so provisions. Uh. The provisioning- INR 10,000 crore, full year number? Yes, sir. Actually, definitely, what's actually, if you look at that, the compared to peer banks, our provision coverage ratio was historically low. Now we could recoup to the major extent, but still there is a gap between the Canara Bank and the other public sector peer banks. There is a gap for to fill that, to strengthen our balance sheet. That's why we are in initial stages also, we have given a guidance to you that we will continue to every quarter to strengthen our PCR. In that direction only, we are providing this INR 2,400 crore or INR 2,500 crore, whatever is there. It will continue till we cross that 90% PCR, sir. sir, based on this, roughly, is it fair to expect that we'll reach somewhere in the INR 15,000-16,000 crore full year CAD number? Sir, the Q1, we have given you INR 3,525-3,535. Isn't it, sir? Yes. You can look at our last, maybe, 11 quarters or 12 quarters growth, what we are showing. Quarter on quarter also, you can look at that, what we are showing is. That graphs gives you a clear picture on that. You just look at that, our net profits. Just 1 year back, it was INR 2,022, now we are INR 35. Every quarter on quarter also, we are steadily growing, and we expect that the next 3 quarters also, we will continue this steady growth. Absolute numbers, let us see that, whatever we have given the guidance, we will be much above than the guidance. Sir, my last question is on the dividend policy. Last year, you paid 12 rupee dividend. That's roughly about 20%-22% of the profit. Is that a number consistent we should expect even for the coming year? Yes, sir. Actually, being a public sector bank, we are supposed to announce a minimum 20% of our net profit as our dividend. Okay. It depends on how much we pay, give the dividend, depends on my net profit, but we continue to give that minimum 20% dividend every year. Okay. If all goes well, your dividend could be in the range of INR 18-INR 20. It's left to you, your imagination, sir. Okay. Okay, sir, thanks a lot, and best of luck. We are happy shareholders. Thank you, sir. Thank you, sir. Thank you very much, sir. The next question would be from the line of Jai Mundra. Please unmute yourself. Hello. Go ahead. Yeah. Hi, sir. Jai- Yeah. Yeah, hi, sir. Sir, I have on your pricing. Jai, sir, good evening. Jai, your voice is not audible. Evening. Can you hear me now? Is that better? No, still not very clear. Can you, like, come a bit closer on the handset? Yeah, hi. Can you hear me now? We try to understand, Jai. You ask the question, we'll try to understand. Sure. Sir, the question is on repricing of your corporate loan of around INR 400,000 crore. ... how much of that should be pricing the quarter two? See, what I understood is you asked about the corporate credit growth. Repricing of the corporate. Corporate repricing is also has completed almost 80% of that, whatever it is there. Because many of these corporates, so where the short-term loans are there only our pricing is the concern. All the long-term loans, the pricing has been taken care initially also. In these short-term loans, we already taken care 80%, and we are continuing to repricing that. You can see that that has reflected in our average yield on advances. Our average yield on advances as on date is 8.4. It's in the highest so far in the last several quarters. That is continuing, and we while even future taking of the proposals, because ample scope is there, growth is there, demand is there. We have seen so much traction in the corporate side also, but whilst funding, the pricing also is making our decision in favor of that. That's why we are selective in both in the security side, the rating side, as well as in the pricing side. This attitude, this approach, will continue in the future also. Okay, sir. My question is, sir, if you look at the yield on advances, while they are up as per investor presentation, but I think the QOQ, they have only increased by 5 basis points, right? The March number that is shown in the presentation is for full year FY23. What I was trying to understand is, of that INR 4 lakh crore loans of corporate loans, how much is yet to reprice in maybe second quarter? You said 80% has already been repriced. That's why, sir, 80% has been repriced. The remaining 20% will be there, because most of the corporate lending is MCLR linked, sir. Our total assets, ma'am, 52% is MCLR linked. Within this 52%, already 80% has been repriced, and the remaining 20% is, which will be repriced whenever it comes for that annual resetting. Understood, sir. sir, coming to your ROA guidance, right? This quarter, we have said we have delivered 1%, and we are guiding for 1% for full year. However, if you see this quarter of around INR 4,800 crore of pre-tax profit, we have around INR 1,500 crore plus coming from PSL, which should decline significantly as we go ahead in the year. What is the offset, sir? I mean, how would you recoup the loss from or the loss of income from the PSL going into the next quarters? Next. If you look at that last two years or three years balance sheet, sir, in the June, our major contribution will be PSLC compared to their OP as well as the NP. The same tempo is continued in the current quarter also. With the same background, last two, three years also, September to March, we could show that a minimum 15% growth rate, both in the OP and a good growth consistency in the net profit also. The reason is, quarter-on-quarter, you will get a better revenues in different areas. First quarter, we might be dependent on the PSLC. The second quarter, because already the stabilization has happened in first quarter itself, we have seen the 3% growth in the advances. Of course, which might have happened majority in the June quarter, that's why the first quarter, we might not have got the benefit out of NII. The Q2, since already INR 25,000 crore, absolute numbers, advances have increased. This more and more disbursement, what we look at that, partly we wish to compensate with the interest income, sir. The remaining partly, the first quarter, generally, you look at that, the recoveries will be comparatively lower than the other quarters. Look at that, the March quarter, we could recover the technical written off is around INR 2,200 crore. As against that first quarter, we could recover only INR 790 crore. There is a huge scope on that. We have a book of almost INR 66,000 crore of written-off accounts, which the Q1, why the attention will be less, is a majority of the staff members will be transferred, their positions are changed. Many people will be in the stabilization area. When it comes for the second quarter to fourth quarter, the recovery under the technical written-offs or the D4 or loss asset, whatever it is, where the 100% provision has been made, there, the recoveries will be very high. The third one is a fee income, sir. Fee income also, it contributes quarter- on- quarter. There is an increase, at least a 9%-10% every quarter, First quarter, generally, it will be less. These are all the options we have on that. With these options, what we are expecting is we could maintain whatever we have shown the growth in the current quarter, the same thing can reflect in that. It's not that we are totally dependent on PSLC. Understood, sir. Was there any-? We would request you to please come back in the queue. We have a lot of participants waiting. Sorry for that. Okay. Next question. Jay, we would request you to please come back in the queue. The next question would be from the line of Mr. Saket Kapoor. Please unmute yourself and go ahead. Hello. Sir, you can hear me? Yes. Good evening, Saket. Yeah, good evening, sir, and thank you for this opportunity. Sir, if we look at your interest ... you can hear me now, sir? tell me. Yes, sir. If you look at your interest on balances with the Reserve Bank, that has been at a highest number of INR 1,109 crore. What should be penciling in going ahead from this line item? Yeah. Also, sir, on the others, there is a figure of INR 474 crore in under the interest earned. What is the composition of the same, and what should we read into it going ahead from these two line items? Generally- I have a question, one more question, yes. Please, answer this. Our CFO is there, he will answer your question, eh? Actually, though, let me clarify to you, afterwards, he will tell you that other interest income is overnight. Whenever you want to invest, the CBLO or anything, these interest invest, the amounts will be captured on this. Whenever you have surplus liquidity, you will invest on overnight or some, those things, CBLO and all those things. That's actually the amount we capture it. Generally, it carries on the same level of quarter-on-quarter increase. Whatever it is there, it will be on those INR 1,100-INR 1,400. That's the range. Generally, it will happen. Now the CFO, so you can speak to. As our MD sir said, that if you see that is quarter-on-quarter also, last quarter, it is consistently showing an improvement over the period. It was 1,100, 1,500, 1,100 last quarter and 1,500 this quarter. It's a component, as you, yourself said, it's a component of interest on call money and deposit with banks, reverse repo, CBLO. This is a figure which we feel that it's almost consistent. I think it should be above INR 1,000 crores, which we expected to garner, maybe a bit more also, in the medium term. This much only we can tell you. There is not much apprehension there. Even if there is a shortfall here, that should be compensated by interest on advances. CFO, sir, clubbing both the figures, that is INR 1,100 and INR 470? No, no. I am telling you that I am only giving you a figure of interest on... Clubbing, both telling that. Yes, yes. Yes, sir, he's clubbed both, and he has given that answer. Okay, this will be a consistent number going ahead also? Generally, whenever, suppose, see, when you have a surplus liquidity, we use that for this head of account. If you don't have surplus, that means this money will be diverted to disbursement in the loans, then that will earn much more than that. That will reflect in the interest income. Okay. MD, sir, you mentioned about pressure on the yields going ahead, that is because of our liability side. Just let me clarify to you. It's not on the stress on the yield, sir. I told you that stress on the margins because of the more interest expenses. Sir, the net yield will be lower if there is a higher interest expense. That's what, sir. Even that, with that, whatever the initiatives we have taken already against the first question, I think I answered that, how many initiatives we have taken on the CASA front to garner the more low-cost deposits. With that, we are confident that we can manage at 3 and above, little above. Okay, a small point, and then I'll come in the queue. Firstly, sir, for this year, we are looking at the NIMS above 3%. We closed last year at 2.9%. We are- This year. Last time, cumulative, it is 2.92, as against the guidance of 2.90. This time, we have given a guidance of 3.05. We are confident that we will manage, we will maintain above 3. Thank you, Saket. Three point? That's what, sir, 3.05%, we have given the guidance. I'm not hearing, sir. I'm joined the queue. 3.05%, we have given the guidance, but we are confident that we will maintain above 3%. Okay. Sir, I join the queue again. Yep. Thank you, Saket. Thank you. The next question we have from the line of Pritesh Bumb. Please unmute yourself and go ahead. Hi, can you hear me? Yes, Pritesh Ji. Good evening. Yes. Sir, good evening, sir. 2 questions from my side. Just needed data from the ECL, yes. How much is the book and how much were the NPA from that book, if any? Last time, when we shared with you, we were at a very raw calculations, sir. Sir, ECL... ECL. GECL. GECL. Sir, you are asking about GECL? Correct. GECL, we have sanctioned actually INR 21,000 crore. Out of that, INR 19,000 crore was disbursed. As on date, the balance outstanding was around INR 13,400 odd. Out of this, INR 800 crore has slipped to NPA. Okay. sir, the restructured number as well, sir, if you can give that as outstanding. Restructure, everything, RF 1.0, RF 2.0, and MSME restructuring, everything. Earlier, it was INR 23,000 crores. Now it has come down to the around INR 16,000 crores. Out of that, INR 3,400 crores were NPA. Got it. Sir, our SMA book also quarter-on-quarter has moved up. Anything to read into that? It's about INR 3,400 crore from- No, sir. SMA always you should look at, not a sequentially basis, year-on-year basis only you should look at that. Because the first quarter- No, year-on-year. Generally in a banking industry, just first quarter in the banking industry, the transfers, etc., seasons will be there. The first quarter, little less will be there. You look at that, the slippages in the first quarter of last year, it is INR 3,940 crore. Whereas, as against that, the current year slippages is only INR 3,482 crore, INR 3,400 crore. You look at only SMA 01 and 02 is higher in the first quarter, is it generally happens. In the first quarter, may agriculture NPAs reflect more because the sowing season starts only from the June 15th, and it will be available up to the September 30th. All these loans which falls due for the renewal, we, in the, from the 1st April to June, that will come for the renewals only in the June 2nd to the September 30th. Automatically, this pressure will come down. Little pressure will be there, is there already in MSME, which we are focusing on well within our appetite. What we have given that, you look at that, the percentage also, total SMA, 1.29%, it has come down to 1.11%. This, total SMA 1 is more of agri, which you are saying, it's moved up because of that. You are looking at SMA 1, that is a quarter-on-quarter. Yes. It has increased to 3,482 now. The majority is from agriculture and MSME. The agriculture, generally, the first quarter may, that will start renewing that limits. If they suppose when the due date is over, it reflects in the SMA one, SMA zero and one. Once it has been renewed, that account will go to the standard asset. The farmers will come for renewals, generally from the June fifteenth onwards, and the current quarter, will come down. Thank you. There is no such threat on that. Sure. Thank you so much. Thank you, Pritesh. We have our next question from the line of Ashlesh Sonjit. Please unmute yourself and go ahead. Hi, team. Good evening. Sir, just one question from my side. Do you see there is a need for you to raise term deposit rates over the next few quarters to garner term deposits? No, sir, literally, there is no, not required, because our retail term deposits is growing. You just look at that almost today, as on date, we already grown 2% of that from April to now, we got almost INR 8,000 crore incremental growth in the retail term deposits at this current rate of interest. When every day, almost, we are seeing more than INR 150 crore additions to my term deposits in the retail term deposits. When that accumulation is there, that is enough to meet my requirements, because I already told you that our CD ratio, we have ample cushion. That cushion, we want to use it for effective utilization of resources. Okay. Sir, in that context, where do you expect your quarterly cost of funds to trend over the next few quarters? See, that's what, sir, the present liquidity, unless otherwise, in the market, liquidity improves, the rate of interest on term deposits may not come down. The current quarter, we don't see any such softening of rate of interest, because in the first July onwards, little, we have experienced little softness in the June month and May fifteenth onwards to June thirtieth, and we could reprice major part of our bulk deposits with a little lower rate of interest. Again, we, and we are seeing that July first onwards, the rates are little tightening, and we are It's the market rate is little high. Unless the liquidity in the market improves, the present high rate of interest on the term deposits will continue. We don't see any change in the current quarter. The maybe, the December quarter and March quarter, once the liquidity in the system improves, the rate of interest may be little softer. Okay, sir. Just one last data keeping question: Can you give a breakup of your slippages across segments for the quarter? Yes, sir. You can look at that, around INR 1,300 crores, INR 1,380 crores is MSME, sir. Around INR 800 crores is agriculture, INR 600 crore is retail, and around INR 400 crores is mid corporate. Okay, perfect, sir. Thank you. Thank you, Ashlesh. We have our next question from the line of Rakesh Kumar. Please unmute yourself and go ahead. Hi. Thanks. Thanks a lot, sir. Good evening, Rakesh Ji. Good evening, sir. Thanks for the opportunity, sir. Sir, firstly, the question was related to the recovery or return of loan number, which is INR 796 crore in slide number 16. Then we have some other figure, you know, given on, you know, in slide number 28. 891. Yes. 891. Somewhere it has been given 891, somewhere it has given 796. So- The reason is, where the INR 796 is the book balance. The, where the remaining amount, INR 100 crore, is the interest on the technical return of accounts. Total together, when it comes for there, it is INR 899. It's at the book balance, because the profit may you can book directly, that's this, what the slot they have shown under this slide is only a recovery towards the book balance of technical return of, sir. Okay. Is there anything in the interest income line also coming from here? Yes, sir. How much is? The interest income also. How much is that number, sir? The balance is, sir, 899 minus 796. Minus 796 number. INR 103 crores, sir. Minus INR 796. INR 103 crores, sir. Mm. Correct. This FX gain number is, like, you know, what is happening there? Could you just, you know, slightly elaborate? There is a quite lot of volatility in that number, FX gain. Which one? In the FX gain, under the, under the income numbers, sir. Sir, we have our Treasury Head with us. Mr. Janardhan Rao, you are on mute. You unmute and speak. He's there? He cannot speak, huh? Janardhan Rao. Otherwise, our Mahesh? Yeah. actually, this number you are referring to is the June 9, June 22 number, which is 952, and you are asking a question of 236. This is what you are asking, I believe. Correct, sir. Like, what is the underlying, you know, situation? Underlying transactions. Sir, underlying transactions are the foreign exchange gains, which has happened. This has reduced because of the spreads in the exchange transaction, which has come down hugely because of the U.S. interest rate hikes. If you see June 2022, the premiums were at the highest, and presently, the premiums are at the lowest. This is the number which reflects that. From now on, we expect that the premiums to go up. This number should go up technically from now on. In March, we have gone to the bottom. Now in the current quarter, we have seen slightly increase. We expect that this increase will continue slowly. In the FX transactions, so only, the value part is changing or there's any, change in the total transaction volume also for us? It doesn't depend on purely on the transaction volume. If you see, the volume would have been remained more or less constant. This depends on the gain, which you get out of the funds deployed in dollars. Mm-hmm. Okay. The swap market premiums. Got it. Got it. Understood. Yeah. Thirdly, sir, on this, staff cost, have we started making any provision for the terminal benefits obligation? No. There is- Terminal benefit, always it will be provided quarterly, sir. There won't be any complacency on that. The staff benefits may even beyond that, we have moved, and November onwards, actually, the wage revision is due for the revision, last November onwards. First five months, we have provided INR 70 crores per quarter, almost INR 350 crores. INR 350 crores-INR 370 crores we provided. This quarter, we have provided beyond that. Almost we have taken INR 115 per quarter. That means we have provided an additional INR 350 crores only towards the wage revision, expected wage revision by the bipartite settlement, whatever it is going to enter into the IBA and the trade unions, effective from last November. Total more than INR 700 crore now as on date, within these 8 months, we have provided already. Okay. Anything for pension, gratuity leaves? We would request you to please come back in the queue. The pension, whatever the funds, actuaries, whatever we are supposed to provide, everything has been taken care quarterly. Good. Thank you. Thank you so much, sir. Thank you. Thank you. Thank you, Rakesh. Thank you. The next question is from the line of Nihal. Please unmute yourself and go ahead. Hello, sir. Good evening, Nihal. Yeah, good evening. The quantitative number looks quite good. My question is on the qualitative side, that if what the company is doing to track customer retention, customer satisfaction, and encourage transparent banking. Just to take an example, my father passed away 3 months back, and he was employee of Canara Bank. Even after 3 months, his account has been frozen, and my mother is waiting for the terminal compensation. This is just an example, and this is the case of an a Canara Bank employee. what- My request to Nihal, can you send it to my mail, that whatever the details, sir? We created an MD secretary itself for a personal mail on that, and there are certain people are working on that, and I myself is personally monitoring. One more thing, for customer redressal resolution, first time in the bank, we have created a vertical, and is now presently headed by a general manager. We are paying so much attention on that to give a best customer service to the possible extent for consistent improvement on that. You also might have seen that whenever you go to that, branches, no, there is a huge change on the even ambiance, even the basic facilities it is to be required for the customers. The third one is the from July 1st onwards, to take care of retention of customer only, mainly the retention of customer, is aimed for that, the relationship manager concept, why we brought it. In 5,000 branches we introduced, where we felt that the savings cost concentration is available. With these 5,000, we have identified top 200 customers of that particular branch. With this, we are covering 80% of our top SB individual balance outstanding. Our SB individual balance outstanding is around INR 2 lakh 60,000. With this, we are covering almost INR 2 lakh 10,000 to INR 2 lakh 15,000 in their accounts. These customers have been now, hereafterwards, we are providing a personal relationship manager concept, and whom we have marked to them, that has been displayed in the our website itself for genuineness. From head office itself, we have written directly letters to the respective individual customers. Afterwards, we are also taking several initiatives on the customer redressal systems, that we are onboarding a complete comprehensive the customer relationship software, whatever it is there, which is under the process of procurement. Once the CRM package is introduced there, this retention will be much more closely micro level, we can observe these things. Whatever the inconvenient caused to you, I'm extremely sorry for that, Nihal. If you can send the details to me, I will take it as in personally and see that it is addressed immediately. Sounds quite good, sir. If you can add that would be great to track customer retention. Second, The next question is from the line of Sushil Choksey. Please go ahead. Congratulations to Canara Bank team and management for excellent result. Thank you, thank you, Sushil Ji. Sir, my sheet indicates that we are very conservative in whatever we are speaking today, and it's I'm happy to note that we'll outperform. Sir, can you throw some light on some initiatives which you've taken over the last 1 or 2 quarters, whether it's technology, subsidiary listing, the roadmap after Mr. Iyer has taken over, Canara Robeco, and various other initiatives? The technology tab was in the news, about IBM, we're rolling out a big tender. The second thing is outlook on treasury. At the terminal end of the year, now, where would you be on the gross NPA, net NPA, and credit loss? Because I think we may be heading towards single digit, that is below 1% on the net NPA, and based on technical recovery, where would you see our end of the year kind of numbers? Sir, first, the I will touch upon that, NPA ratio, sir. Gross NPA, we have given the guidance at 4.50%, and the Net NPA, we have told that it is 1.20%. Definitely by the end of this quarter, we will be below than that, whatever the guidance has been given. That much I can confidently say to you. The regarding the initiatives, what we have taken, the technology side, let me share it with you, sir. I am very happy to share with you that the Canara Bank has been ranked number one consecutively, second financial year by the MeitY, Ministry of Electronics and Information Technology. Based on that rankings, the rankings will be happened on the both public sector and private sector. Total 47 banks' performance will be taken into account on various parameters, like how their digital journeys are happening, how their digital transactions are happening, how their merchant onboarding is happening at rural or northeastern or various areas. Based on this, they rate the banks, marking for 100, and last year also, previous year also, the Canara Bank has rated number one, and this year also, we continued to be rated just recently. 10 days back, only the MeitY has come out with their ranking, and the Canara Bank has continued its number one rank. The second one, what I want to share it with you, is the transparency in our onboarding any vendor management. The vendor management, the onboarding last continuously 2 years. GeM portal, the Canara Bank is the highest, procured through GeM portal promoted by the Expenditure Ministry. That shows that whatever the our internal investments, what we are making on our new initiatives or a capital expenditure, that we are most a transparent bank on India among all private and public sector banks. As you are told there, rightly, that the news item is the IBM or Kyndryl, which is INR 3,000 crore worth of contract. That has been almost finalized, sir. The results have been announced, that is, it is in the process. Not only this, sir, we have gone for the RFP for end-to-end digital lending, which is already almost to final stage for selecting that. Continuous CRM package, the customer relationship management package, the co-lending package, this is also it is there, the onboarding the video KYC, this is also is there on that, several such initiatives we are going on that. We are the bank, though we have been identified on the 3rd instant that for introducing the CBDC, but the onboarding both customers as well as in the merchant side, we are the number one bank as on date in India, sir. The CBDC, our app is well received. Our mobile app, Canara ai1, in the July, after 15th, if you can look at that this is the highest-rated public sector, any mobile app, that we got on the public the Play Store, the Google Play Store or whatever the Play Store it is there, that rating has happened at 4.506. We are the first banker who has in the RuPay, our RuPay credit card has been integrated with the UPI payments. We are the first bank, we are coming out with our self-help groups on us and offers dual authorization through the BC points. We are the bank, we are very active on NCMC. There's a commutation, whatever the mobile cards, what you are using, your existing RuPay card will be replaced, that your existing RuPay card can be used in all wherever NCMC integration is there in the all railway, metro... railway stations, metro journeys, or even transportation areas and all. We are the first banker who has onboarded bill payment-... do for the Oman customers across the board. Like that, many technical initiatives we are taking, our mighty ranking continuously the second year, that shows that our whatever the efforts, we say less, but we do more. That has been proved once again in the technical, technology front. In the business front, in the first quarter itself, we are taking several initiatives. Like already we told that innovative products we have launched in CASA to attract the customers. We have launched one bank, one call center, that is 18001030. This call center, through this call center, 24/7, 365 days, 35 services can be availed in 12 languages. That has been created, that has helped us a lot to reach the customer. The one more is, we are very active in spreading the QR code and the audio systems to the merchant establishment. We are targeting for the street vendors, where the Prime Minister, PM SVANidhi, the beneficiaries are there. Those beneficiaries, we already covered more than 1 lakh such customers have been provided with this QR code. Onboarding them on the digital transactions. In this, among 11,000 people have been given the first time in the public sector banks, that audio system has been introduced and provided to the customers. These initiatives will continue in future also. The both are the service, the wise, the people who comes to the branch, we are giving a innovative products. The people, the younger generation, who does not want to come to us, for them also, we are aiming and introducing so many new products. There are several new other products on the loan side, as well as in the CASA side, targeting the sectors, women as well as the younger generation. Those products are in research side. We have completed that. Still it is yet to be in the UAT. We may launch in the next quarter. Regarding the treasury, I request our Mukherjee sir, to pay on that a little. He will share it with you. That's what is going to be by the end of this year, whether we are expecting the same returns or any increase in the returns on that. Sir, you forgot about, however. Sir, sir? Sir. No problem. Tell me, sir. After Debashish Mukherjee, okay. Take it. No, it's fine, but thank you, sir. With regard to treasury, as we are all aware, it is market driven, and because of these rising yields at the present scenario, things are not doing as much as we would expect. In the days to come, when some, you know, yields decrease, there, we are poised to make some better profits. That is with regard to the treasury. With regard to the treasury, I would like to mention a few more points that during June, our portfolio MD is comfortable at 4.74. AFS MD is comfortable at 3.45, and then our PV01, AFS and HFT is INR 7.81 crores. Portfolio yield has increased from March 23 to 6.85%. Overall, a healthy portfolio, which we are going to carry forward in the coming quarters as well. Choksey sir, you are asking something? Yes, sir. Either yourself or Dada can answer. Outlook on subsidiaries and the roadmap which you have already decided or working on? We have actually subsidiaries and associates and regional rural banks, total together, 13 are there in our bank. All have been this June quarter, we displayed already that they are, everybody is earning the net profits. No subsidiary or associate is incurring any loss on that, these profits are also showing a steady growth on that. You have seen that, Canfin Homes, whatever the market has reacted, we have taken several initiatives on growth side and all those things, and I am sure that Canfin Homes will continue to work on that. The remaining two, we have promised, we have given a guidance to the stakeholders that the Canara HSBC Life Insurance and Canara Robeco, that we have initiated to come out of that public issue, IPO, and that the action has been just started. It takes a minimum 15 months, sir, 15-18 months. We expect that the next year, next financial year, in the H2 of that next financial year, these two companies may come out for the IPO. I shared with you that our credit card, being the division, we would like to shift it to our own 100% owned subsidiary. For that, we identify our Canara Bank Financial Services, but Canb ank Computer Services, CCSL, where our shareholding is only 69%. We already written to the remaining 3 stakeholders. We expressed our interest to purchase that remaining 31% stake. The negotiations are on. We are hopeful of getting it completely by the, I think around in the next quarter, sir. Sir, my last question is that we have pruned our number from last quarter on ECL provision much lesser than what you had spoken, sir. That would be icing on the cake. Can you highlight that number? Yes, sir. Actually, initially, last quarter, whatever we have shared, that's a rough calculation on very initial stages. There afterwards, we sought some clarifications. We also reworked on our calculations and all. It has come down more than 50% of what we actually last time shared with you. There afterwards, a further tuning. Now it has come down to the around effect is only 2% to 2.25% of effect. Now further, we have onboarded a consultant on that to further guide in this regard. Once the... He will be with us for that next one-year period, till that is implemented, sir, so that we take his expertise in further reducing these things, and we are sure that we will be in line with the other banks, and it will be around only 2%. Sir, thank you for answering all my questions, and all the best to Team Canara for the years to come. Thank you so much, sir. Thank you so much. This would be our last question for the day. I request MD sir for his closing comments. Thank you so much, sir, for everybody. Whatever the... We thank to our, all our well-wishers and investors and all. With your great support, we want to continue our steady growth. We are very, very much particular about the consistency in our growth, and that consistency will reflect in all our key parameters in quarter-on-quarter. We assure you on behalf of all the entire top management, that this consistency will continue in the coming quarters, too. Thank you very much, sir. Thank you, sir, for giving us this opportunity to host this call. I request everybody. Sign. -to sign off. Okay. Thank you. Thank you, sir. Yep. Thank you.