Varun Palacharla

My question was regarding disbursements and how we see disbursement going up or what will be the drivers? So, in light of that, I would want to ask what is the login to sanction ratio for us? How has it trended over the last 2, 3 quarters when you have tightened the screen? And is there leeway over here that as the field staff get normalized in these new credit screens the ratio might increase?

I just had one more question on the incremental yield. So, after the PLR cut, what is the gap between the incremental yields and the book yields? Where will it trend towards?

My first question is again on the claims ratio part. So last quarter, if I remember correctly, we had provided a higher amount for claims which are outstanding. And as they run down, there should be some benefit coming in this quarter, right? If we include that benefit, how much is the claims ratio increased by in 2Q? That's one thing I wanted to ask. And second is with regard to the auto adjudicatio n system.

But the trend would be upward, right, then if we include that impact, likely like 120 basis points, whatever up we are seeing in the first half basis, largely a similar impact would be i n 2Q. So it's actually an uptick in claims. Is it not?

Okay. And with regard to the long -term ROE guidance, so now that you've had more of a handle, so are you able to change your guidance? Or would you want to just reiterate the long - term guidance?

Hi, hope I'm audible. I had a couple of questions regarding the pre 1/n and the post 1/n accounting. So the claims ratio on a like -to-like basis, that is without 1/n accounting, if you compare it, is up by about 800 basis points this quarter year-on-year.

Yes.

So when we look at commission that we get in pre-1/n and post-1/n, the difference largely is on account of deferred commission, right, on the long-term policy?