Ankush Agarwal

Yes, hi. Thank you for taking my question. Firstly, if I look at our payments GMV, and if I exclude the UPI which is probably non-monetizable at the moment, the GMV growth has come down to say about 20 -odd percent versus earlier which was slightly higher at about 30s range.

Right. And like at scale, you do believe that merchant business will generate profitability, right? Even though it might not be as high as the consumer business that we are doing currently, but it would still be a decent profitable business.

Right. And any thoughts on if and when the UPI might become monetizable for you?