Hello, good afternoon, everyone. Welcome to the UCO Bank Q1 FY 2027 Earnings Conference Call. Today from the management side, we have with us Mr. Rajendra Kumar Saboo, MD & CEO, and Mr. Vijay N Kamble, Executive Director. With this, I hand over the call to MD, sir, for his opening remarks, post which we will have a Q&A session. Thank you. Over to you, sir. Good afternoon. Thank you [audio distortion] for taking this call. Thank you for attending [audio distortion] this conference with all our esteemed analysts and investors. Good afternoon to all of you. You all know that we have announced our quarterly financial results for the quarter ended 30th June 2026. We have already uploaded our presentation, detailed results, and with key highlights. I will just summarize the key performance highlights for the quarter for ready reference of all of you. Business growth of the bank has been very well and quite diversified also. As we know that the total business of the bank has reached INR 605,000 crore numbers on 30th June. This growth comes with 15.53% year-on-year growth in June, supported by advances growth of 21.18% and deposit growth of 11.28%. Thereby, our total advances, global advances, have reached to INR 272,768 crore and deposits have reached INR 332,315 crore. Deposit growth has been supported by CASA growth, where our growth year-on-year has been 12.34%. Our total CASA stood at INR 116,136 crore. This is with the support of current deposit growth of 16.23% and savings deposit growth of 11.78%. Our CASA ratio as on 30th June has been at 36.94%. Our advances growth has been contributed by all the sectors. In retail, we have grown by 25.27%. Overall, sorry, RAM growth has been 25.27% and within the RAM, retail growth has been 27.32%. Our agriculture advances have grown by 30%, and our MSME advances have grown by 18.79% year-on-year. This is the growth in the business advances and deposit. With the support of this growth in business, our profitability has also improved. Our operating profit has grown by 79.8% to INR 2,810 crore in this quarter. This operating profit growth has been supported by core income growth, where our NII income has grown by 16.85%. Our fee-based income has also grown 35%. And then there is a recovery from TW accounts that is about INR 1,018 crore. That has also supported us in our operating profit growth. While the operating profit growth has been good, our net profit growth has been 8% year-on-year to INR 656 crore. There is an in-between provision and our taxation provision have increased. We have provided for tax INR 1,919 crore. That is the maximum provision provided. Out of this INR 1,919 crore, there is a one-time DTA charge. Basically earlier in the old tax regime, we were calculating DTA at the rate of around 35%. Now, this financial year, we have moved to the new tax regime where the tax rate is at around 25%. Now with this change, the DTA has been recalculated, remeasured. Due to this remeasurement, INR 1,237 crore one-time DTA charge has been provided in the profit and loss account. Thereby our regular DTA means regular tax provision is around INR 625 crore or so. In addition, this INR 1,237 crore, total tax provision has been INR 1,919 crore. Had it not been there, our net profit could have been more. That is the reason why the net profit is at INR 656 crore. With this profitability, our asset quality has also improved. We have seen reduction in gross NPA by 55 basis points year-on-year. Our GNPA as on date is 2.08%. Same way, our net NPA has also reduced by 20 bps year-on-year and our net NPA stood at 0.25%. We have provision coverage ratio of 97.85%. If we go by the guidance given in the beginning of the current financial year, we have surpassed most of the guidance, like deposit growth, we were at 11.28% against the guidance given 10%-12%. Same way, in credit growth, our growth is 21%+, against the guidance of 12%-14%. We have maintained CASA ratio within the guidance just below 37%. RAM sector advances constitute 64.5% against our guidance of 62%-65%. Our CD ratio stood at 82%. Credit cost has been controlled. We have given guidance to maintain the credit cost below 0.75%, against which in the first quarter, our annualized credit cost is 0.39%. Same way, our slippage ratio, we have given guidance of less than 1%, our actual slippage ratio annualized for the quarter is 0.63%. Thereby, we have maintained it. Our GNPA, NNPA, NIM also we have maintained as per the guidance given. Overall, this financial performance has been encouraging. Other than the financial performance, if I talk about the various initiatives taken by the bank. During this quarter also, we have taken many new steps, we have launched many new products as well, like in digital Project Parivartan, we have started Project Parivartan 2.0, wherein we are working to create our call center as a profit center. Many journeys we have been bringing on the call center also. Thereby in IVR, we are offering many more services to our customers, many new customers are connecting for their services through IVR and contact center. Their fulfillment rate has also improved. We have launched STP home loan journey in the digital drive. We have also started our digital marketing solution, wherein the marketing of various products is being done through the digital channel. We have integrated with ULI of RBI, that is unified lending interface for STP home loan journey and STP AASHRAY loan journey. They provide the backend solution and backend validation of various KYC and other things. We have also implemented our CBDC, we have started our CASA Back Office, where all the current account and savings accounts are being opened. We have implemented our DMS solution, digital documents management solution, which is helping us in working better in CASA Back Office as well as in our credit hubs, like retail hub and agri and MSME hubs. We have launched many new products also, like for CASA in deposits, we have launched UCO Rising Star for children. We have launched a UCO GIG scheme for gig workers in savings. We have started a UCO Business RM current account product, which is for the startups. We have recently launched UCO three-in-one product for younger generation who have an interest in investment or equity investment. Therein, we are providing our savings account and demat account with UCO Bank, along with the trading account, stock trading account, with collaboration with our channel partner, Aditya Birla Money. These have been the initiatives. In IT front also, we have many initiatives. I told, we have upgraded our IVR. We have UDAY chatbot, which is based on the AI. For customer delight team, we have created to connect with the customers to understand their requirements and better our propositions for their fulfillment. Many new projects also we are having in pipeline, like omnichannel is one project which is going on. Very soon we will be launching the omnichannel. Cash management service for our corporate customers, that is also in pipeline. That will come very soon. We are going to launch many new STP digital journey. Like for MSME, we have a GST Smart Finance that is up to INR 25 lakh. We are very soon going to launch for up to INR 1 crore, that is we are increasing. Pre-qualified personal loan journey digitally available. Now we are going to launch it through our contact center, call center as well. That is also in pipeline. We are very soon going to open our GIFT City branch. Maybe in the next month, we will be opening. We have all approvals in place. Our IT implementation is in process, we will be opening the branch very soon. We will enhance our propositions and offerings on CBDC as well. These are few of the important initiatives which we have already planned and are in pipeline. I think with this, I have provided the oversight about the results as well as the activities happening in the bank. Now I welcome any questions from the investors and analysts, we will reply those questions. Please. Thank you. Participant, those who have any question, please raise your hand. We will take the first question from the line of Sushil Choksey. Sushil, your line has been unmuted. Please go ahead. Congratulations to Team UCO, Saboo- ji and Mr. Kamble for excellent performance for the quarter. I heard your television interview. I think it was a very stable guidance. Sir, my first question is, can you give me some guidance for the year in terms of cost of funds, cost of deposit, cost-to-income, which has dramatically improved year-over-year and quarter-on-quarter, on ramp and corporate advances, return on equity, return on assets, some kind of guidance on all these pictures? Thank you. Thank you, Sushil-ji. Yes, we have already given a few guidance in our presentation itself. Those are the guidance which were given in the beginning of the year. We are continuing with those guidance, still, as you have asked on many other profitability and efficiency parameters, let me speak on that. First of all, cost of funds and cost of deposits you have asked. We have seen some moderation in our cost of funds. Our cost of funds has come down to 4.36%. While with the last year's repo cut, our deposits repricing has also completed. I think that was a lagging effect. Now I think most of the deposits have repriced to the latest new rates. The deposits cost, I think, will be stable at this level going forward. Because of various channels, other channels other than the deposits, like we are raising funds through borrowing, through refinance, through other channels. Our cost of funds that has improved in the last quarter, I think that will also be remaining stable at that level only. We expect that now we have repriced all the deposits with the support of all other products, we will maintain the cost of funds as well. Then NIM will automatically, means we have not given any guidance, but yes, in NIM we have given guidance of 2.8%-2.90%, and we have reached to 3.05% with the support of lower cost of funds. Our yield on advances have remained stable. Only 3 basis points fall is there in the yield on advances. Maybe we will be keeping in the same range, yield on advances going forward. Our NIM will be 2.8%-2.90%. The guidance will be the same, we will try to keep it above that only. This is about the NIM and margin. One point you have asked about the cost-to-income ratio. Yes, cost-to-income ratio, we know that in our bank, our cost-to-income ratio was around 54%. Last year it was 54.06%. In March also it was 52.66%. This year, because of the high operating profit we have earned, it has come down to 37.49%. Because, as I told you, our operating profit consists a recovery from technical written-off account. In INR 1,018 crore of technical written-off recovery, there is a major part which is around INR 800 crore, which is from few accounts, which we don't expect to repeat in the quarters going ahead. Then recovery of TW will be normalized. In a normalized scenario, our cost-to-income ratio will not be at this level, it will further increase. We expect that, yes, with the improvement in the other financial parameters and profitability for the year 2026/2027, we will be able to maintain our cost-to-income ratio below 50% or around 50% only, not much above that. That is our expectation from cost-to-income ratio. I think credit growth already we have told that we have given guidance of 12%-14% and we have a good pipeline of credit sanctions that is around INR 15,000 crore pipeline we are still holding, which may be disbursed in due course of time after the formalities are completed. The credit growth will be maintained. Though we have the guidance of 12%-14%, we will try to maintain it above that only. This is our view on the various parameters. Sir, on advances, are we giving up IBPC and low yielding government advances towards other sectors like RAM or home loans or any other products, or how is the rebalancing happening in the portfolio? Yes. As we have seen that our advances growth is coming majorly from the RAM sector growth. Our RAM sector growth is more than 25%. Within the RAM also, the growth is coming from all the sectors. Retail has grown 27.3%, agri has grown 30%, and MSME has grown 19%. This growth is coming from these sectors, diversified sectors. That will continue. I think the corporate advances have also shown good growth, about 17%. We are not in the IBPC. We don't have any IBPC exposure as of now. We are trying to curtail any other low yielding advances, like maybe the PSUs or other government sector companies. That is very limited. Still we are working as to how we can improve further our yield through various other sectors exposure or maybe other corporates and group exposures. That we are working, majorly the growth is coming from RAM sector where the yield is okay and can be maintained also. Sir, in the current round, I'll ask my last question. Post-election in West Bengal, the investment climate is likely to improve and you're the only surviving PSU bank in East as of today. What happens in future, I don't want to speculate. In that scenario, what kind of CapEx, what kind of meetings, because I see that Chief Minister is driving a lot of growth and prospects, lot of policies are being replicated, and lot of minerals and many engineering companies are based in Kolkata. Lot of eastern belt is also doing well, led by a lot of agri-related, whether it's bamboo, tea, and various other segment. If these sectors and state both are reviving on a very high growth path led by schemes, are we getting any sense that UCO should benefit sitting in Kolkata? Yes. Yes, you have rightly said that UCO Bank is now the only bank having head office in Kolkata in public sector space. We have our presence in West Bengal State, very good presence. We have around 400 branches in the state and controlled by our five zonal offices. We have very good presence already in the state and we are participating in the growth journey of the state. Maybe, yes, with this change in the regime, we can expect many more project development aspects coming for our financing. We see many opportunities in infrastructural as well as in industrial aspect. We are trying to connect with various corporates in West Bengal and particularly in Kolkata, in various sectors, like steel sector and then maybe railway-related sectors and then other infrastructure sector. We see good opportunity going forward in the state also while we are open for opportunities everywhere in the country as we have 3,421 pan-India branch network. We are mindful of the situation in our own home state, and we are fully aware and fully prepared to take this opportunity and increase the growth in various business segments. Thank you for answering all my questions. Good luck for the year. I will come back if time permits. Thank you. Thank you so much. Thank you. We will take the next question from the line of Nitin S. Nitin, please go ahead. Yeah. Am I audible, sir? Yes. Please go ahead. Yeah. Thank you for the opportunity. My question is related with this change in the tax regime, that we have gone in the new regime. What would have been our ROA had we remained in the older regime? Can you please put that number? It was not there in the presentation. I think I missed that. Okay. Actually, this is a statutory requirement. Yeah, yeah. I understand, sir. 2026-2027, we have to shift to the new regime. We don't have any option. Hypothetically, if we see that INR 1,237 crore is one-time charge, had it not been there, then it could have been added into the profit. Simply saying, we could have more profits and then we can calculate the ROA. That could have been more than 1% also. That is our rough estimate, we have not calculated by that way, because ultimately this is the situation and this is the final number. I understand, sir. From the comparison perspective, I wanted to understand that. Yeah. Had we not moved, what would have been ROA? That would have given a better picture to us from the comparison perspective. What would be our guidance for NIM, ROA, EBITDA growth, for the current quarter and the financial year? In the financial year, we have already given NIM guidance that is 2.8%-2.9%. We will be trying to keep the NIM around that level, maybe more than 2.9% slightly. That will help us in improving our profitability. ROA, we have not given any guidance as of now, but we have seen our ROA 0.68% annualized with this profitability which we have declared. I think going forward, with this DTA thing going behind us, already we have sufficient provisions in NPA, as you can see that our net NPA is 0.25% only. Even we exclude the TW, our provision coverage ratio is 88%. The NPA front, we don't have to provide much. Our credit cost will remain controlled, like we have given the credit cost guidance that is 0.75% below than that, our actual credit cost is 0.39%. Our credit cost will remain within that range of the guidance. We will have better profitability in the net profit level also. That will help us to improve our ROA. ROA maybe means 0.68% today. We see at the year-end, maybe slightly near to 1%. I understand, sir. My next question is, where are we getting the competition from? From the public sector bank only or from the private sector or NBFCs? Where is the competition coming from, considering the sectors that we are involved with? In the banking space, we know that competition, for competition, there are many players in the financial markets. Public sector banks are there, private sector banks are there. Somewhere, in some pockets like rural and other pockets, some RRBs are also there. NBFCs are also nowadays providing credit support to people. Financial market is full of all these various types of players. We don't see this as a competition only. We see this as an opportunity also. Because as the financial market also expands with more and more player coming into the picture. People are migrating, they are graduating, maybe starting. People start with the financial inclusion system. They open a bank account and they take the insurance products, social security, and they take some small loans, like in various government schemes, and they expand and they move ahead and up the ladder of the wealth creation also. Being means many players in the system, this expands the market. This brings more and more new customers into the system, and customer graduates from NBFCs, MFI to NBFC to bank, like that it happens. Whatever the competition is there, we are focusing on our own business strategy. As a business strategy, we have all the products in place which caters to most of our customers variety. For retail, for agriculture, for MSME, for youth, for woman power, for corporates. We have all variety of products on liability side, deposit side, as well as on the asset side. We are running that Project Parivartan for digital transformation of the bank. We are providing as of now 31 STP journey on digital platform. Our digital platform has taken up very well and we are onboarding the customers through digital journey. I can share that we have around INR 35,000 crore digital business balance sheet as on 30th June. It was INR 25,000 crore in 31st March 2026. We are growing our digital balance sheet through the digital products. As of now, I can share that fixed deposit making. Earlier, this was happening in the branches only physically. But now our customers, say 70% of fixed deposits are being made through digital channel only. That is the shift from manual working to the digital working. With this digital offering, we are providing hassle-free, seamless services to our customers. With good customer service and bundled products offering and digital system, I think we can acquire more and more customers. Also we can service customers with many other products also. More products per customer also, we are working on. This is our strategy to grow in all the business parameters. Thank you for this elaborate answer. You have ducked my question because I was looking specifically where the competition is coming from, if any, private sector specifically, say for example, because private sector is saying that they have a severe competition coming in from public sector banks. Just from that perspective. All these are competitors in the market, everybody is facing competition from each other. We can't quantify as to how much competition I am getting from private or from public sector. We are getting good growth. You can see the numbers. Yes. Even though the competition is there, we are growing. My final question is about, which are the areas, you talked about some areas in the previous question, where we are getting the maximum growth from and where do we see risk, in which customer segment we see the risk coming from? Growth area, as I told you that we continue to grow in deposit side also. Now as we have reached 82% of CD ratio, we will increase our deposit growth rates, particularly CASA. We have offered many new products and we are working on bundled products, digital offering, so that we will be increasing CASA. In credit side, our focus will continue to be on RAM sector, retail, agri, and MSME. Our share of RAM is 64.52%. We will continue to maintain that 65% around share of RAM in our total advances book. In retail segment, we have majorly two products. Basically, one is home loan and other is vehicle loan. Our home loan growth is also around 20% year-on-year, and our vehicle loan growth is 65% year-on-year. Maybe the 65% is on higher side due to the lower base. Even though we take the base to higher level going forward, I expect that around 30% growth in vehicle loan can be maintained even if with a higher base, and 20%-25% growth can be maintained in home loans because the demand is there and we can continue that. MSMEs, of course, is a new sector, where we see good growth. We have grown 19%, 20% in the past few quarters. We will continue to grow in that range only in MSME sector as well. These are the sectors where we have focus. In agriculture also, particularly in gold loan also, we are seeing good growth and that will also continue in gold loan. I think majorly these are the sectors. If you talk about corporate sector, yes, there are certain sectors where we see good traction, like infrastructure and projects. Still we are getting good number of projects. There is a renewable energy sector where we get good projects, good proposals, transmission lines infrastructure, that is also a good sector coming up. Maybe the traditional sector also like steel and cement and port and other things. We are open to these all sectors to finance and find any opportunities there. Any areas where do you see the risk coming from? Any stress you see in any of the areas? As of now, we have not seen any risk from any sector. As of now, we have not seen any such risk. No stress we have seen. Thank you. Thank you, sir. Thank you very much. Over to you. Thank you. We will take the next question from the line of Ashok Ajmera. Please go ahead. Compliment to you, sir, for Saboo sir and Kamble sir. Thank you. For very good set of numbers. It is nice to see you, Saboo- ji, and both of you sharing this meeting. Yes. Sir, very good set of numbers, good profitability, very good asset quality maintained, good business growth. Going forward now, sir, you have given your credit growth target of only 12%-14%, but what we see on annualized basis is 20%, 21%. Don't you think that you should revise your target to maybe 16%, 18%, because otherwise also the credit business is growing very well. If you see the other banks results also. This year, I think everybody is very enthusiastic to increase that growth. With both of you being there with a strong top management type line up and very good staff, I think our bank should do well on the credit front and overall business front. What do you have to say, sir, on that? Thank you, sir. Thank you for your compliments and being optimistic on our bank. I agree with you that, yes, credit growth is happening. In industry also we are seeing very good credit growth happening. Though we have kept our guidance in the beginning of the year, somewhat conservatively at 12%-14%, actually we have grown 21%. Going forward also we see that good growth may happen and our endeavor is that we should grow as a small bank, we should grow more than the industry growth. That is our endeavor, but we have kept the guidance as of now the same level. We will review the guidance after the second quarter numbers, because in the midterm, we can review. Immediately within the first quarter, it is not proper to review this guidance. We will continue with this guidance in the second quarter itself, then we will review after the second quarter number whether we need to change the guidance. Maybe hopefully, we can better the guidance further. Your voice is not coming, sir. You are on mute. Please unmute. Ajmera- ji, please unmute. Hello, Ajmera- ji, can you hear us? I think he-- Hello, hello. Can you hear me now, sir? Yes. I was muted actually after the first question. Sir, some of the other banks have also said that. In spite of whatever is happening globally, and especially this geopolitical situation, this war, Iran, U.S., there is no impact so far seen in any of the MSME account or this thing. But if you look at ECLGS, people are availing that. In our bank, what is the actual sanction figure of ECLGS? How much is disbursed? Are you also sure that there is no impact of this stress today in your accounts? Yes, sir. As far as ECLGS is concerned, we have opened this scheme for our customers. As of yesterday, we have sanctioned around INR 2,150 crore in ECLGS. Out of this INR 2,150 crore, we have disbursed around INR 1,700 crore. That is the disbursement. Even though we have sanctioned INR 2,150 crore, this does not mean even 50% of the eligible customers loan sanction under ECLGS. ECLGS is a good support, good scheme given by the government. As we remember in the COVID era also, the government came out with the ECLGS, this ECLGS scheme was very supportive, particularly for the MSME sector. They could address the liquidity issue at that time come out of the problem with the support of ECLGS most of the ECL given in the COVID time has already been adjusted. Very few amount is outstanding. Same way, I expect that this time also this ECLGS 5.0 will support the MSME units wherever they are facing any liquidity issues, and they will come out of the issues very soon with the support of ECLGS. We don't see any stress or any issue in any of our segment of any lending book. That's why our slippages are contained. Our slippage ratio has been lower than our expectation and guidance. That is only 0.63% annualized. Our slippages are also contained, and you can see our SMA book, INR 1 crore and above, we have declared. That is also very much contained, even it has declined from March. In March it was INR 1,125 crore. That was 0.43% of our advances. Now this is only INR 1,009 crore, which is 0.36% only of our total advances. Thereby, SMA book has also improved, and slippage have also been under control. Thank you. Point well taken, sir. On ECL front, how much provisioning we require and how much ECL provision already made in the buffer provisions which we have? We have done a preliminary assessment exercise for ECLGS. ECL. Sorry, ECL. ECL. For expected credit loss, we have done our preliminary assessment exercise, and there are two parts. One part is to arrive at the ECL numbers and to have the proper system in place. Already we have our IT partner in place. They are working on the IT systems, and then we also have our knowledge partner in place. We are combinedly working on our models for ECL, like PD and LGD and all those things. On the financial front, we have assessed our requirement on the transition date. That is 1st April 2027. In the transition day, what requirement we have assessed, we have already created a buffer of around 60% of that requirement. Already we have 60% requirement we have provided for. That is over and above the minimum required mandatory provisions. We have created extra provisions already. Remaining 40% provisions, which we require for the transition date, that we plan to create in the next four, five quarters before this ECL calculation comes into the picture. That is our plan decision. Okay, sir. Thank you very much, sir, and all the very best. Okay. Thank you. Thank you. Thank you. We will take the next question from the line of Ashlesh. Please go ahead. Ashlesh, your line has been unmuted. Please go ahead. Hello. Hi, sir. Good afternoon. Good afternoon. Sir, a few questions from my side. Firstly, just a qualitative one. Can you speak about what are the trends that you are seeing on loan pricing and competition in the last few months, specifically in the corporate loan segment and in retail segments like housing and autos? Yes. In loan pricing, we can say that in the retail segment, there is no such pressure, already we have our best rates in offering for home loan and for car loan, we are maintaining those rates because retail segment loans are linked with the repo rate, that is external benchmark lending rate. These rates are quite stable for last one, two quarters, till that last repo rate happened. After that, the rates are being maintained, we are not in a hurry to increase that. Maybe a little bit MCLR has been increased. Maybe in this current month, we have increased our MCLR by 0.05%. It was 8.75% for quite a few months. This month, we have increased it to 8.80%. Slight increase is there, otherwise, the retail segment and other segment rate of interest is holding as it is. As far as corporate lending rates are concerned, [audio distortion] one quarter. We have seen certain categories where we have seen improvement in the yield from the corporate advances also. You can see that corporate advances and corporate bonds yield, that comes in combined way. People take advantage or trade-off between the bonds rate in the market and the credit rate at the banks. If the bonds rate are increasing, then of course, the credit rates are cheaper than the bond rates. Slight demand shifts into the corporate credit and vice versa also. With the demand coming in the corporate credit, yes, pricing is also moderate, means reasonably at good level. We don't see much cut in the pricing as of now in the corporate segment also. We are maintaining the pricing, basically. Understood, sir. Sir, second one is on the TW recovery which you have reported. In your interest income line, was there any benefit of interest recovery from the JP Associates resolution? I don't think. No JP Associates. There is no such recovery of this particular account. Okay. Nothing from the SRs for this account, right? No. Okay. Sir, thirdly, can you explain why the cost of deposits has increased quarter on quarter? Also, on the corporate loan book, you said that you are trying to be selective, but that book has grown quite well on a QoQ basis. What is the strategy over there? Yes, cost of deposits slightly has increased. As in the last quarter, we have done certain reclassification of deposits and borrowings. That has been reclassified in the international book also and in the Indian books because of certain requirements. That has affected little bit, but otherwise the cost of deposits are stable and our overall cost of funds has even declined with the support of lower cost on the borrowings. That was the small issue. That has been addressed. Now this corporate loan book, quarter on quarter, as you have told. We have grown equally in the RAM sector as well as in the corporate sector also. As I told, various sectors there are demand coming. In corporate book also, we are seeing demand in working capital availment also. Few limits which were already sanctioned have been availed in this quarter, and thereby we have been able to show reasonably good growth in corporate loan book also. I think this demand will continue, as I told you, there is a trade-off between the corporate bond market and the corporate loan market. We see that because of the rate of interest in the bond market being at a limited level, so the demand in corporate loan book will also continue, and we'll see good opportunity going forward. Understood, sir. Sir, just if I can squeeze one more question. Yeah. If I look at the fee income from loan processing, that has declined this time. If you can just explain why that has happened. Whereas the charges and commission from other sources, that has increased by some 70% YoY. Yes. If you can explain those line items, please. Yes. In the previous income breakup, actually, for the charges and commission from advances side, the main issue was, it was a small recalibration or reclassification. Earlier, we were recovering the renewal charges upfront for the year, then we used to allocate quarter-wise as per the accounting norms. That was a lump sum amount. Now this year, we have started charging on the actual basis, this quarter we have charged actual basis, mostly what happens in the Q1, sanctions are very less, renewals are also very less. Thereby a little bit effect is there, we have seen lesser amount of commission from advances due to the lesser renewal charges. Going forward, I think it will normalize for full year it will be a normal total, commission will be in line with the previous year as well. As far as from others commission is concerned, there is a growth in other commission income, particularly the growth comes from one segment, like we have also given in our notes and accounts, that we have sold PSLC. PSLC of around INR 2,000 crore, we have earned a commission of INR 55 crore into the PSLC. That has helped us to grow our other commission income. Along with that, normal commission growth is there in others heads. This is the reason for growth in others. Understood, sir. Thank you for patiently answering my questions. Thank you. Thank you. Participants, those who have any question, please raise your hand. As there is no further question, I hand over the call to MD sir for his closing remarks. Thank you. Thanks to all our investor friends and analysts for showing their interest in UCO Bank and attending this phone call. We have tried to reply your query. Even if still there are any queries, you please feel free to connect with our Department of Investor Relations and send us your queries. We will try to answer that also. I again thank all of you and assure you the performance continuity of the bank. Thank you so much. Thank you, Saboo-ji. Thank you, Kamble-ji. Thank you. Thank you, sir. Thank you. Thank you. That concludes UCO Bank Q1 FY 2027 earnings conference call. You may now disconnect your line. Thank you. Thank you. Thank you, sir.