Ladies and gentlemen, good day and welcome to the Central Bank of India Q4 FY25 earnings conference call, hosted by Antique Stock Broking Limited. As a reminder, all participants in line will be in listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Raju Barn awal from Antique Stock Broking Limited. Thank you, and over to you, sir. Thank you. Good afternoon, everyone, and thank you for joining the post-result conference call of Central Bank of India. From the senior management side, today we have with us Sri M. V. Rao, MD and CEO, sir; Sri Vivek Wahi, Executive Director; Sri M. V. Murali Krishna, sir, Executive Director; and Sri Mahendra Dohare, Executive Director; and Mr. Mukul Dandige, Chief Financial Officer. Now, without any further delay, I hand over the call to MD, sir, for his opening remarks, post which we will have a Q&A. Thank you, and over to you, sir. Thank you. Thank you, Raju. Good afternoon to all the participants. We are thankful for the keen interest you are showing in our results. First of all, we are very happy to inform this year gone by has many good things for the bank in many aspects. I will give the highlights, and details will be given by our CFO, Mr. Mukul. As far as the performance highlights are concerned, this is the first time total business has crossed INR 7 trillion. Now, our business stands at INR 7,02,798 crore. On the net profit, again, it is the highest-ever net profit in this financial year, that is INR 3,785 crore. Coming to gross NPA, it is now at 3.18%. A year back, it was 4.50%, and net NPA has come down to 0.55%. Earlier, it was 1.23, and provision coverage ratio now is at 96.54%. Coming to the other ratios, which are most important, that is the NIM, that is the net interest margin, which stands at 3.40. It is the same as that of the previous year. The return on assets, now it is at 0.86. Earlier, it was 0.63. ROE has improved to 12.48 off earlier 9.53. CRAR has improved to 17.02%. Earlier, it was 15.08. Coming to the top-line numbers, that is the total deposits, which stands at INR 4.12 lakh crore, and the CASA deposits, which is one of the best, is 48.91%. Our gross advances have shown an increase of 15.24%, now stands at INR 2.90 lakh crore. Our CD ratio is improved. Now we are at 71.13%. These are all the highlights for this year, and including with the quarterly highlights, our CFO will explain. Yes, Mr. Mukul. Thank you, sir. Thank you so much. The interest income on advances has seen a year-over-year growth of 13.36%, and it stands at INR 22,339 crore. There is a year-over-year and quarter-over-quarter increase in the quarterly figures also. The interest on investments has seen a 6.12% growth, and it stands at INR 10,092 crore in March 2025. The other income has been at INR 318 crore vis-à-vis INR 385 crore in the previous year, mainly because we had an INR 205 crore IT interest refund last financial year. As far as the interest expenses go, the year-over-year growth in interest expenses has been at 10.90%, and total interest expenses are at INR 19,769 crore. The interest paid on deposits has seen a growth of 9.34% to INR 18,488 crore. The other interest has gone up to INR 1,281 crore. The staff cost has gone up by 14.37%, and it is at INR 7,219 crore for the financial year. The other operating expenses have seen an increase by 12.10% to INR 4,409 crore. The fee-based income and total other non-interest income, fee-based income has seen an increase of 18.61% on a year-over-year basis, and it stands at INR 2,180 crore for March 2025, as against INR 1,838 crore in March 2024. The total non-interest income has seen a growth of 24.26%, and it stands at INR 5,855 crore vis-à-vis INR 4,712 crore. Noteworthy is that the recovery in write-offs for this financial year is INR 1,716 crore vis-à-vis INR 1,433 crore during the last financial year. The total interest income, if we see, there is an increase of 9.58% on a year-over-year basis, and it stands at INR 33,666 crore. The total interest expenses have gone up by 10.90% to INR 19,769 crore. The net interest income has seen an increase of 7.76%, and it stands at INR 13,897 crore. The total expenditure has gone up by 11.85% to INR 31,397 crore. The operating profit has seen a good growth of 10.34%, and it stands at INR 8,124 crore. The net profit has improved by 48.49% to INR 3,785 crore. If we see the total provisions required, the total provisions for the financial year for NPAs are at INR 2,802 crore vis-à-vis INR 3,391 crore in March 2024. There was a depreciation or provision investment, including assets. There is a write-back of INR 306 crore this year compared to a write-back of INR 265 crore last year. Income tax provision has been at INR 1,149 crore this year, and the restructured account provision is at INR 539 crore this financial year compared to a write-back of INR 34 crore last financial year. The NPA numbers, as MD sir has told, the gross NPA has come down to 3.18%. In absolute terms also, it has come down from INR 11,340 crore to INR 9,225 crore, and the net NPA has come down to 0.55%, and the net NPA now stands at INR 1,543 crore vis-à-vis INR 3,002 crore as of 31st March 2024. The sector-wise NPA classification, if we see, the retail net NPA is at 0.08%. The agriculture and other allied sector is 1.80%. MSME is at 0.96%, and corporate and others is at 0.04%. The provision coverage ratio stands at 96.54%, and the credit cost is at 1.21%. The slippage ratio for the quarter is at 0.56%. If we exclude the proactive provision that we have made in the NPA category, then the credit cost would be at 1.10%. The restructured book now stands at INR 5,114 crore, which includes the normal restructuring at INR 2,169 crore, and the COVID-19 resolution restructured book of INR 2,945 crore. As far as the special mention accounts of INR 50,000,000 and above are concerned, the total is INR 700 crore in 44 accounts, out of which SMA II is only 9 accounts of INR 93 crore. The capital adequacy ratio has improved to 17.02%, with CET1 at 14.73%, and the leverage ratio has improved to 6.15%. The total business has seen a growth of 10.37%, total deposits at 7.19%, CASA at 4.79%, and we still are able to hold on to our 48.91%, that is close to 49% of CASA share. The RAM growth is at 16.13%, and RAM constitutes 66.90%, which is well within our guidance of 65.35%, plus minus 5%. The retail segment, which constitutes 28.40% of our total advances, has seen a year-over-year growth of 15.72%, and the home loan portfolio, which constitutes 63.32%, has seen a growth of 18.40% on a year-over-year basis. The rated standard advances, if we see, total BBB and above, that is the investment-grade advances, stand at INR 93,152 crore, out of the total INR 97,427 crore, which is a very, very healthy average. If we see our credit risk-weighted assets, also is one of the lowest at 62.94%, and our CD ratio has tested 71.13% during this quarter. We have achieved all the mandated norms under the priority sector, and the investment portfolio has seen a very good, I mean, yield, with 6.87% being the yield on investment. The treasury Modified Duration is at 3.46%, and for SLR, it is 3.52%, and the PV01 for SLR plus non-SLR is at 13.28%. These are all the highlights of our performance. Now we are open for any questions and answers. Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touch-tone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Ashok Ajmera from Ajcon Global. Please go ahead. Thank you for giving me the opportunity. Good evening, good afternoon, sir, Rao sir, Wahi sir, Murli Krishna ji, and Duhare sir. Congratulations and compliments to you for another good quarter of good set of numbers, where almost on many parameters the bank has excelled, and I think has achieved even targeted numbers also. My compliments to you, sir, for that. Very good profitability. As you said yourself, the highest net profit. Having said that, sir, I have some observations and some clarifications, sir. As compared to many of the other peer banks, our credit growth has been phenomenal. I think we grew almost about 15%, and especially in this quarter itself, we have grown by 7.14%. Our credit book from INR 270,000 crore to INR 290,000 crore. Correspondingly, if you see it on the deposit side, we are a little bit lagging behind. In this quarter, it was 3.72%. That's okay. Overall, in the year, it was 7.19%. Going forward, how are we going to match this difference? Though we are, as of today, comfortable with 17% CRAR, our CD ratio is also 71%, so we will definitely continue to grow on our credit book. This is one, just a small observation, some questions. If you can throw some light on it, sir, then I'll ask a couple of other questions. Thank you for the good words. As far as this growth on the advances with our deposits, let me tell you, because of our low CD ratio, we were not aggressive on the deposit side. Going by the market, the rates which were offered on the deposit front were too high, and we had enough liquidity to fund our growth. That is why we have not accelerated on the term deposits, but on the lower low-cost deposits, always our focus was there. That is why we were able to maintain our CASA ratio. Going forward, since what we say is we will be focusing to have a stable CD ratio around 72-73%, now the acceleration on the deposit side will also increase. We are confident whatever the numbers we are saying, we are going to maintain the pace on both the deposits and the advances side. Okay, sir. Point well taken, sir. Sir, would you like to throw some light on that aviation account we have been talking about? It's a big amount, big account. What is the current status? Like our total outstanding in our books, total provisions made so far in that account, and what are the recovery prospects? Because we had some additional collateral along with the other banks. Only, I think one other big bank is involved with that. Where do we stand today? What is the current status on that account overall, sir? As far as that particular account is concerned, recovery is a process. You also understand how the things move as far as the recovery, which is a process not in the bank's hands, but we are actively moving on the collateral part, which is the land parcel what we have. Further, there were good developments as far as the arbitration part is also concerned. There are a lot of positive things that are happening, but as far as our books are concerned, it is a 100% technical write-off account. It is not accounted in our books right now. It is totally 100% TWO account for us. Whatever comes will be added to the bottom line? Bottom line, yeah. Sir, this quarter, sir, the overall provision has been a little more than the last quarter of INR 556 crore. This time, it is INR 844 crore. Out of that, INR 830 crore is only on NPA. What kind of accounts account for it, making the provision? Is it large corporate accounts, or it's overall general delinquency which has led for you to make the higher provision? We have a good amount of restructured book provision also on a restructured book of INR 5,114 crore. How good are we on the provision account, and what was the need of this higher provision? Do we have any buffer other than the IRAC from the old provisions? No, no. See, let me tell you, Mukul Dandige, our CFO, will share with you, but on the big picture side, let me tell you, our slippage ratio for the quarter is 0.56%. Our trade cost is 1.21%. Even if as per the RBI regulatory norms, if I want to provide anything for the accounts which are slipped, it will be around 15%-25% depending upon the securities that are available. Since we have the provision coverage ratio at 96%, naturally, the over and above regulatory requirement provisions are required to be made. That is why you may see that there is an increase in the provisions, but it is purely over and above the regulatory requirement that we did. Further details, our CFO will share. Ajmera ji, now what happens? Yes, sir. To maintain my net NPA also, whatever slippages happen, I'll have to provide for 100%. As sir is saying, my regulatory requirement is 15%, or say if it goes to DA1, D2, or loss, in that case, 25%, 40%, or 100%. To maintain our net NPA ratio, we are making 100% provision. As far as your question of any big corporate account, nothing of that sort. I think the biggest slippage during this quarter is an account of around INR 30 crore-INR 32 crore. Other than that, these are small accounts which are marked purely on technical grounds by the branch auditors, and we are quite confident that going forward in the June quarter, we'll be able to upgrade these accounts. As far as you are asking some regulatory buffer, yes, we are having regulatory, I mean, whatever is mandated as per the IRAC norms, over and above, a lot of provision is held in NPA accounts. In fact, if you see my net NPA, it is only INR 1,550 crore odd. That means out of my INR 10,600 crore I have provided for everything else. We are maintaining that. More than that, we have done INR 250 crore provision, which we are doing all these three, four quarters on the restructured book also, which will come handy during the implementation of ECL. Okay. Yes, yes, sir. Sir, last point in this round, since you are there, Mukul ji, on this taxation front, I have been talking in the previous some quarters also. Quarter to quarter, there is some erratic numbers. This time also, the total deferred tax asset has been reduced from INR 4,297 crore to INR 3,145 crore. The tax provision also has come down to INR 125 crore from INR 447 crore, leading to higher PAT, though the profit before tax was a little lower in this quarter. Would you like to throw some light on that? What is the status? Where do we stand, and why did we? How much more benefit is to be accrued or to be availed in future on tax? Yeah. If you see year-on-year numbers, 2022-2023, we had made a provision of INR 1,063.14 crore in tax. 2023-2024, it was slightly higher at INR 1,504 crore. This financial year also, it is almost comparable, INR 1,149, INR 1,150 crore. DTA movement, if you see, sir, 2021, it was INR 7,545. 2022, it was INR 6,862. 2023, it was INR 5,799. 2024, it came down to INR 4,295. March 2021 also, it is INR 3,146. Whatever our internal assessment is, that we should be able to consume the entire DTA by March 2026 and move to the new tax regime, which would definitely give us some cushion in the tax front coming forward. Okay, sir. Very well explained by you. Thank you very much for taking my question this round. If time permits, I have a couple of other some observations and some questions. Thank you, sir. All the best. Thank you. Before we take the next question, a reminder to all the participants that you may press star and one to ask a question. The next question is from the line of Sushil Choksey from Indus Equity Advisors. Please go ahead. Good evening and congratulations to our team. Central Bank of India have very good numbers and a very successful QIP. Sir, I'm looking to we've achieved what we desired in the last one year, and we have consolidated a path which is getting better for the bank. Can we talk about some growth trajectory? Now, we've also launched the super app. How are consumer bank and corporate bank would behave with treasury likely to be emerging as a winner in the current year based on the outlook globally and domestically? See, as far as this financial year concerned, we have already set our targets for the business growth. It will be around 14% growth. That is the top-line growth. As far as advances, will be around 15-16%, and deposit growth will be around 12-13%. CASA, we would like to have around 48% because now we are at 49%. Whatever the things that happen, keeping the market reality, we are targeting at 48% with plus or minus 1%. NIM also, we always give that our guidance will be above 3, and we are delivering all the time above 3.4 or 3.35. Our endeavor will continue that. On the gross NPA and net NPA, definitely we would like to see that below 3% gross NPA. Net NPA will be we will be eyeing for 0.45. That is our target. This is the overall big picture what I'm giving for this year's guidance, coupled with why we are gung ho is because entirely now all the business is shifted onto the new platform where after the super app, we will be activating our wealth management modules and then wealth management structure which is specifically designed to cater to the needs of the HNIs and also a centralized forex cell which is already started working. We will be focusing on the NRI deposits and the NRI connections. This is overall. One more initiative what we will be doing this year is we have identified almost around 500 PIN code centers where our bank physical presence is not there and where banking business is growing around 15%-16% CAGR. Those centers we have identified, and we will be moving with the BC MAXX centers. BC MAXX is a hybrid between the physical and BC center where it will be a very lean and cost-effective structure where we are expecting a break-even within the first three months. That is the model that we will be accelerating to acquire the new business and also to provide all digital services to the people who are in those PIN code areas. This is the new structure what we are envisioning. Already as a pilot, we started in 25 centers, and it is doing well. Having the good experience, we will be rolling out to the 250 centers within this first half year. Sir, any outlook on the treasury front how we will be beneficiary because we have stuck to G-Sec as a product of investment in the investment book? So that would result in a super abnormal profit for the current year? As far as treasury is concerned, this falling rate scenario, there will be at least two rate cuts are expected. 6.58 level of March should go can even breach 6 level. Another INR 600 crore-INR 800 crore sale on investment profit is additional profit than last year is really expected, and it should happen. Though it may or may not compensate the overall reduction of RBLR like repo-based. On treasury front, definitely this year is going to be a very good time. Sir, any highlights on the super app and any further expenditure for digitization and creating additional incentives in terms of products and things on where technology is concerned? What is this? Yeah, please, Ratan. Come. Good afternoon. We have already launched our consumer banking app. Now, this year, we will be going towards corporate banking app. That is addressing specifically for corporates and the SME segment. Any estimated expenditure on the digital work for the next current year and years to come? Additional expense over what we have done? Yeah, we are definitely budget is never a constant for us. We have been very aggressive in investments in technology. This year also, we are doing it something around INR 300-500. We can easily expect that we will be able to invest on this technology. Rao, sir, my last question in this round is with the super app and our CASA at 48-49%, the bank is having a healthy balance sheet. Do we estimate that consumer banking, specifically led by housing loans or vehicle loans or any certain products which we are launching, we may have a systematic higher growth than the average or higher end of the system which the banks have? See, if you see my retail growth, whether it is housing, vehicle, or agriculture, MSME, entire RAM segment, that we will continue to have the focus, and we are already recording around 18%-20% growth. Whatever the targets we have, equitably we have distributed among the RAM segments and corporate segments, and we are confident to achieve that. It is not that one product will be pressing for 25% or 28% growth and in another product 8% or 10%. We always evaluate which particular product is profitable and then trading off with the cost of the capital. That call we always take on a monthly basis. As far as ballpark fees is concerned, we are equitably on both on the RAM segment and corporate, we have the equal focus. Thank you for answering all my questions and good wishes for the years to come. Thank you. Thank you. A reminder to all the participants that you may press star and one to ask a question. The next question is from the line of Amit Mishra from Indus Equity Advisors. Please go ahead. Good evening, sir. Good evening, everyone. Thanks for the opportunity and congratulations for the good set of numbers. Sir, my first question is on other income. Sir, our recoveries have doubled, almost doubled from last quarter. Any big account in this or are there small, small accounts? Yeah. As we have told, the total recovery which was at recovery in written-off accounts which was at INR 369 crore during the last quarter, it has increased to INR 549 crore during this March 2025 quarter. The major accounts wherein we have received recovery, our GM recovery will inform. There was one big account, Coastal Energen, in which we have received INR 302 crore. Okay. Yeah, there is only the big account, INR 102 crore. Yeah. Rest of the recovery is coming from the various initiatives we have taken like selling property in which we have got physical possessions. Okay, sir. Got it. Sir, overall, your expectation for FY 2026 and recovery from NPA as well as from return of account, do you have any guidance on that? Last year, we made a recovery, total recovery of INR 4,062 crore. In this year, we are eyeing for INR 4,500 crore. 4,500 crores. Last couple of years, our run rate as far as the recovery in write-off is roughly around 4.5-5%. This year also, I mean, the technical write-off book now stands at INR 35,413.56 crore. We expect a similar amount, around INR 1,500-1,700 crore to be recovered during this financial year. Okay, sir. Got it. Sir, in your retail NPAs, the classification I was looking at, there is a slight increase in retail NPAs. I just wanted to know from an overall industry point of view and from your bank particular point of view, how is the retail portfolio currently? Do we think there is stress in retail sector or? No. If you see the increase, it's from INR 858 crore to only INR 1,000 crore. Yeah, there is a slight increase. Yes. Yes. It is very minor in this one. I mean, not attributable to any stress or anything or any particular systemic thing. Okay, sir. Sir, what is your branch extension plan because we are spending on IT infrastructure, but I think in past one year, we have not increased so many branches. What is your plan for two to three years only for branch extension? Yeah. Earlier, just I informed you the way we are expanding through the BC MAXX centers. That will be our future of reaching out to the customers where our physical branches are not there. As far as the only physical branches are concerned, wherever we feel that it is required, that we will evaluate and take the decision. As such from the corporate side, we will be focusing more on the low-cost digital hybrid model. That is what we call BC MAXX centers. Okay, sir. Got it. Sir, my last question is on ROA. We have almost achieved 0.9% of ROA. Can we expect 1% of ROA for 2026? Actually, we thought that we should be able to touch March 2025 only 1% ROA. Now, we need to look at the things. Looking at our past 16 quarters record, we are quite confident that we should be able to touch 1% ROA during this financial year. Okay, sir. Sir, thank you so much and all the best for the future. Thank you. Ladies and gentlemen, you may press star and one to ask a question. The next follow-up question is from the line of Ashok Ajmera from Ajcon Global. Please go ahead. Oh, thank you for giving the opportunity again. Most of these questions have already been answered. In fact, I had a major question on the recovery which had just been answered. I have just a couple of small listing. Like one on treasury, if you look at the segment-wise results, on the treasury side, the income, the profit we have got INR 888 crore as compared to INR 318 crore in the last quarter. Overall, we have been doing well on the treasury side. Like sale of investment, also there is a profit. There is a treasury profit in the other income. Going forward, I think this question was partly covered by, I think, Shashil. Can you give some more color on the overall treasury operation when nowadays that part of the profit on your listing goes to the reserves and only the trading profit comes to the P&L? How does it look and how is it going to, how much is it going to contribute in our overall profitability in the next coming year or quarter or two, sir? As MD ji first told already, I see treasury yields are now at around already at a very from March, they have already softened by another 20 basis points. Two rate cuts have already happened in February and April. Market is expecting at least two to three more rate cuts. As far as yields are expected, they are likely to go beyond 6 also in this current financial year. Treasury gains are bound to happen. All banks, in particular public sector banks, you know they are having all excess SLR to now 20, say 6-7%. I would say that treasury gains are in the pipeline. It depends upon the size of the SLR portfolio. As far as our bank is concerned, we are expecting additional around INR 600 crore-INR 800 crore additional profit by sale of investment. It is going to take care of our other side of credit side where immediately the rates are being reduced, whereas our deposit liability depreciation happens with a lag. Times are good for treasury. It is a cyclical thing. It happens after every two to three years. We are expecting that at least the coming year, the present year, and the next year should be on the same line. Okay, sir. Thank you, sir. Sir, coming back again on this credit only, we have got a good credit growth. The target set up for 2026 is also very good. I mean, 15-16% of the credit growth. Sir, all this current economic or the global challenges which are there, the tariff war, and now the other things, and there is maybe a little more further geopolitical crisis. Looking at this and in the changed scenario where even the government of India can, in order to attract or can pacify the U.S., might reduce duties on some products which may affect the local industries, what is your overall view on this? What kind of businesses will flourish and will need more credit? If you look at the remaining 35-37% of your other than the retail book, where do you come the demand is going to continue or may come more? Sir, with the change of definition under SME, we expect that we will continue to have good growth in MSME. Retail also, we are clocking a growth of more than 15%. Under corporate also, if we see some CapEx happening, in that case, we will be open to fund those kind of CapEx. In the last quarter, you would have seen that our corporate growth has also been very robust. I do not think that achieving this 14-16% growth in the advances should be any issue. All right, sir. Thank you very much, sir. All the best. Thank you. Thank you. A reminder to all the participants that you may press star and one to ask a question. The next question is from the line of Sarvesh Gupta from Maximal Capital. Please go ahead. Good afternoon, sir. Thanks a lot for giving the opportunity. Sir, one question is on the NIM side. This quarter, we saw a relatively rapid fall in the NIM, almost I think 20 basis points. Given this, what is the outlook for the coming years, especially because if there are rapid rate cuts, how should we see the NIM? Related to that, wanted to also understand what is the book like in terms of breakup between externally linked versus MCLR and fixed rate. Okay. As far as the NIM is concerned, mainly it impacted us because the treasury income also has come down. Even though if you see our interest on advances has gone up by INR 157 crore. And my interest payment on deposit is only INR 115 crore. I mean, as far as interest on advance or interest on deposit is concerned, we are positive. Investment income has gone down by INR 98 crore. Further, to maintain our liquidity sound, I mean, the interest on borrowing has gone up by INR 135 crore. That has had the impact that the NII is minus. That is why the NIM has come down. However, with the thrust that we are laying on not only maintaining our CASA at 49% or 50% plus minus 1%, we are pretty sure that overall NIM we should be able to maintain well within our guidance of above 3%. As far as the breakup of RBLR and other advances is concerned, we have roughly around INR 1,72,000 crore book sitting on RBLR. Around INR 70,000 crore is on MCLR and INR 38,000 crore is on fixed rate. Okay. Secondly, I think in this year as a whole, our staff and other OpEx also grew at a relatively healthy pace of 12%-14%. How should we see the OpEx trending in the coming years? Were there any one-offs in this year? See, staff, the wage division or wage settlement was signed in March 2024. However, a lot of the allowances and other things were payable from April 1, 2024. Because of that, these expenses have slightly gone up. Further, we have recruited some 1,500-odd staff members during this financial year. That has contributed to increasing the staff cost. With their deployment, we should be able to generate additional business which would more than compensate for the, I mean, staff cost. Secondly, in line with our thought process that we would like to make our terminal dues fund self-sufficient, if you see, around INR 460 crore additional provision has been made in the terminal dues for this financial year. That is another aspect because of which it appears that the staff cost and other things have increased. There is no one-off item in the staff cost for March 2025. Okay. The other OpEx, sir, that also increased at more than almost 12%. Is it because of the advances for primary? 10-12% would increase because rents, then lighting and other expenses, they would definitely go up as we, I mean, renew the leases, as we open new branches, new premises would be undertaken. All those expenses are, but they are well within the, I mean, radar and well within the overall control and well within the range. Okay. I think, sir, one more line item was miscellaneous income. I think that had gone up a lot in the non-operating income. Any one-off or what exactly was that? One-off. Miscellaneous income. One second. The slide number 16. Yes. See, this 44 is with zero penal charges. 114 is with INR 67 crore as penal charges. 154 is with INR 97 crore as penal charges. Because now RBI has said that you cannot charge penal interest. This has become penal charges. Okay. Okay. Thank you, sir. All the rest. Thank you. Ladies and gentlemen, you may press star and one to ask a question. Reminder to all the participants that you may press star and one to ask a question. Ladies and gentlemen, you may press star and one to ask a question. As there are no further questions from the participants, I would now like to hand the conference over to the management for closing comments. First of all, thank you for all the participants. The way bank is delivering for the past 16 quarters, that we will continue to deliver. Even in our day-to-day delivery, it is going to become digitally agile. The super app, what we have rolled out, and also the new tools on the wealth management, that is definitely going to help further progress in our bank. Thank you. Thank you very much for showing the interest. Thank you. Thank you. On behalf of Antique Stock Broking Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.