Congrats on a good set of numbers. Sir, you made a comment that on the deposit side, a good amount of repricing is done. But if I look at the peak TD rates, we had seen a good cut of around 65-odd basis points from May to July. So should the repricing of t his not be there in the forthcoming 2 quarters? Just trying to understand how the cost of funds can move incrementally here.
Sure sir, any quantify on what proportion of our term deposits would have repriced this quarter?
Sir, I just wanted to understand the credit growth that we are seeing. Which segment is this coming from, and how are we originating these loans?
And in terms of where the customers are getting on board in the SME space, like where are you, are these all takeovers from other banks, or is this organic growth which is coming in terms of higher credit demand from existing customers? How should one look at it?
I was saying on the interchange revenues that we earn, on a computed basis it was coming closer to 100 basis points. So, I just wanted to reconfirm that number? And in the last two quarters, it seems to have declined meaningfully. So, just if you can explain, is it largely due to the RuPay card or is something else a factor here?
So, if you can quantify what is that we earned in 1Q, percentage?
Sir, just on the asset quality, please, I wanted to understand any quantifiable pool that you have in terms of the stressed assets as we speak as of 4Q end? Like how should one look at it on -- the potential stress that will come into FY '26, if we have to get some sense on that, if you could give some color around that?
But sir, maybe on the flow rates, if you can qualitatively give from the peak level, how much would it have improved?
I'm sorry to touch on that flow rate question again. So, if we look at your Stage 2 plus Stage 3 in 4Q FY '24 and the percentage or absolute amount and in 3Q, 3Q is still higher. And the comment that we gave in 2Q was still that in the first half of current financial year, the flow rates have improved. So, what you said in the call today also is that the flow rates into delinquency is lower delinquencies to write -off is higher. But this is not reflecting in the Stage 2 numbers that we are seeing right now. So, if you can share what is the 30 plus, how is it moving the last 2, 3 quarters? And also, what is our share of exposure in, say, very high risk and high-risk category of Bureau rating customers. Something around that would have helped to get some sense on how the improvement is happening.
Sir, if you quantify these numbers, that will help.
Good afternoon, sir. Thanks for the opportunity. S ir, in your opening remarks, you mentioned that the flow rates have improved. But if you look at this quarter, the GNPA has gone up and write-offs are also higher. So, is it for a particular month that you are talking about the flowrate if you can elaborate further here? Second, you also commented that there's a 15-percentage improvement in prime and above prime customer. So, I just wanted to clarify that 15% or 15 percentage points because if it is 15% then the mix wise there is no meaningful improvement. So just clarity here. And third, in the recent origination that we are doing on new cards, how is the breakeven period vis-a-vis say, 2, 3 years ago on the new relationships that we are originating in terms of duration?
Sir, just if you could help in quantification of how the flow rates have improved in the early delinquencies?
I just wanted to understand, based on the bureau scrub that we have been doing for the existing customers, what is the watch list pool of customers that we have identified based on the current portfolio where we can potentially expect some stairs or some action that we would like to take?
What I wanted to understand was, if you can give some indication of what could be the poll size to get a flavour on how long can this credit cost continue?
Sir, in the earlier participant's question, you had explained that when we are onboarding customers, they are at around 720 -730 levels and then subsequently fall to 600 . I just want to understand, sir, is it possible or are we doing something to assess the income of the customer when we are onboarding and the kind of profile? Because one of the credit card journeys that I had with SBI Card, it just took the name of the company where I work and the designation, but no subsequent documents were collected. Is there something where we can – which I may not be aware of, and you may be doing it – assess the income profile and the quality of income to avoid these kinds of scenarios? Just wanted your thoughts on this. And second, if we look at the Stage-2 that were disclosed, it is not increasing despite the jump on delinquencies that we are seeing. Why it's sort of flattish Q-on-Q or year on year?
Stage-2 is not increasing in the receivables that we give quarterly despite the delinquencies that we are seeing and the guidance of higher delinquencies for the next 2 quarters. Why is it still at 6%?
Hi, good afternoon, sir. Congrats on good set of numbers. Sir, just continuing on the previous participant’s question on OPEX . Sir, the extension that was given that in the last two years, whatever RMs have been added, they are yet to reach that, they are just touching their breakeven level and so the operating efficiency is looking better. And if I look at employee expense as a proportion of total revenues that was around 45% for most part of last year. And suddenly, in this quarter that has come down significantly. So, is there a differential in the incentive that is paid out on the mutual fund versus Structured Products (we have corrected the terminology to Structured Products where MLD word is used)? Because revenue growth in mutual fund has been almost 27% year-on-year and 10%, sequentially. And on Structure Products , it is 36% Q-on-Q growth. So, is there a factor of that leading to a lower growth in employee expense this quarter vis-à-vis the revenue?
Okay.
This is better?
Hello.
This is on cards. As per the slide, the revolve rate has gone up around 25% versus 20% to 23% in the earlier quarter. So just want to check if there's any claim change here or it's just a one-off thing?
Sure, sir. Second one, sir, on the home loan vehicle finance disbursement in 4Q compared to 3Q, they were lower. And even if you look at the quarterly average for the 9 months it's lower. So is that due to some specific strategy? Or is it competitive behaviour or lack of demand? How should one read into it? But disbursement for other lenders has been pretty good.
Sir, I just want to understand in the MFI, the 43% disbursals which are getting covered under CGFMU, so what is the thought process on which you choose asset cover? Sir, why not 100% for incremental disbursement?
Sure, sure. Okay. Second was on the non -MFI non-cards book. Is it possible to give a sense on what kind of PPOP would that be contributing in Q3 just to get a sense that incrementally, how is that book contributing on profitability?
I just wanted to understand for FY '25, as per our guidance and you're talking about PPOP growth leading loan growth, so clearly in '24, NIM's expansion has supported that. So for '25, what are the drivers are we looking at in terms of the PPOP growth leading loan growth and also in ROA expansion? Second, in terms of the presentation mentioned that we are venturing into commercial cards, so just wanted to understand your thought process there, why are you venturing with this? Because as I understand, this has a lower profitability than the retail cards.
Sir, firstly, the 30 basis point Q-o-Q decline in incremental yields that you have seen. So did you have any component of year-end discounts or in the secured business? Or is it purely a function of a change in loan mix?
Yes, on the disbursement.
I just want to understand what's the provision that we are currently carrying on the MFI SMA book? That's one. And second, the OPEX that we are seeing on account of merger synergies, how should one think on that for FY26? And related question was that we have given a slide wherein we are talking about the addition of touch points across products, across geographies in next year. So, how should one look at the interplay between Opex on these two things?
Just on that synergy piece, see if I look at the quarterly run rate in the first 3 quarters, we have been holding around that 14.7-14.3 billion kind of run rate. And we have been gaining some benefits. So, just into next year, what kind of cost escalation will we see on the core business? How should we look at with the synergy benefits, how should that move into FY26? That's what I was trying to understand on the OPEX part.
Sir, hypothetically, if you were to get the universal banking license in the next 6 to 9 months, just want to understand from the bank's perspective, how would we look at the asset strategy? Would we be looking to add new product share, would corporate banking would be a focus because right now, when we are talking about focusing on higher-yielding assets. So just trying to stand as a universal banking, what changes versus the current nature of the bank? And how will we look to differentiate against frontline banks once you come to universal bank?
And just secondly, just on the slippages and the provision which have happened in the P&L, if you want to share the split how was slippages across segments and the provisions, NPA and non- NPA provisions?
Sir, I had a question on the provision that we have taken in the P&L. So we have almost INR 585 crore, INR 590 crore of NPA provision. And if I look at the net slippages adjusted for recovery and upgrade, that comes to around INR 400 crore, and the PCR has not improved. So just wanted to understand the consumption of this provision that have happened.
Right. But sir, absolute slippage was around INR 600-odd crore. If you adjust for the recoveries and upgrades, INR 220 crore, so you come to around INR 400-odd crore of net slippage this quarter, right? On that, if we were to build in 90% PCR that we are maintaining or 98%, including technical write -off, then that would be around a similar number, INR 400 crore. So we are still left with around INR 200 crore. So just trying to un derstand where is that getting added, because the technical just about technical write off the PCR has not improved?
Congrats on a good set of numbers. Sir, my question is on slide number 24. If you look at the market risk -weighted assets, that's come down to INR426 crore from INR7,500 crore last quarter. Probably this would be on account of the recent change in regulation. Further, if you can help us understand what will happen on the investment work in this? And also because the yields have moved up sharply on yield on investments. If you can explain how the recent circular is impacted on the investment portfolio? That’s one Second, yields on advances have declined by 18 basis points Q -on-Q. So is there any one -off here? Or what explains the decline? And third, if you can just share your observation on the agri portfolio, how is it behaving any delinquencies there?
Sure. Sir, just on the market risk weighted asset movement. So what you explained was, on the HTM and AFS, credit risk was applicable even earlier and now after the change in regulation that is applicable on HTM and AFS?
Just continuing from the previous question on LCR, sir, on the previous four quarters if you look at, LCR has been more than 120%, but in this quarter for 4Q, annual average we are giving 114. So, is there some reclassification of deposits that have happened? That is what I wanted to understand. That is one. Second, sir, thank you for the elaborate discussion on the rural business that we are building. So, if you could just help us understand what will be the rural ROE that we are making right now. And second, if you look at the last 5 years, it has been good from our monsoon ’s perspective. So, in case the macro turns adverse in that, are we building in some safeguard of the first on that portfolio or what will be the consequences around that?
Just a follow-up on that, because the investment has also gone up by almost 19% Q-on-Q. So, that should have typically prompted an uptick in LCR. The liquidity has actually increased. So, that’s why there was some confusion.
Thanks for the opportunity. Just on that guidance for FY 29. What will be the normalized credit cost that we are assuming there? That's first. And secondly, what would be the losses that we are incurring currently on the credit card portfolio and on the branch liabilities piece right now?
Sure, sir. So this essentially means ROA expansion is predominantly driven by improvement in opex, so NIMs is flattish and credit cost would marginally go up from current levels. Okay. And on the question on credit card portfolio losses that we're incurrin g right now and the branch expenses?