Gaurav Jani

Thank you, sir, and congrats on a good quarter. Just touching upon the margins again, right? Seems to me that, largely the improvement is from balance sheet management, right? We have reduced the proportion of liabilities overall. LDRs have gone up, borrowings have come down. I think that's the main contributor apart from the CRR cut. Now, my question is, sir, how sustainable is this?

So, secondly, sir, on the TD rate cuts, so the first tranche of repo rate cuts that happened was followed by system wide TD rate cuts. So, what is your sense on further TD rate cuts? Is that possible?

Thanks. Just if I may squeeze one more. Sir, on the provisions side, we have been buffering up the standard asset provisioning. So, it will help if you could just run us through as to what are you thinking or how are you planning in terms of ECL? We have been shoring up standard asset provisions. So, does it mean that we would continue to see credit costs of about 50 basis points moving towards the ECL?