Anand Dama (Host – Emkay Global) Thank you, sir. We will now open up the floor for Q&A session. Anybody who wishes to ask a question shall raise their hands. I request the participants to limit the question to two per participants and for further questions please join back the queue. Anyone who wants to ask a question, please raise your hand. Yeah, Mr. Ajmera, please unmute yourself and ask your question. Ashok Ajmera, Analyst Good evening, sir. Binod Kumar ji compliments to you sir for keeping at least the, I mean the bottom line at least intact. You are in profit; on the net profit front. Many of the banks are finding it difficult, and even the business growth, the credit growth of 2.21% in this quarter is commendable. Overall business also is growing. So in spite of so many challenges you have met, you know them, I mean you have given declared good results, good numbers. And in your presentation, and Ashutosh, sir, said digital journey presentation you almost covered I think everybody's 70% to 80% questions or the queries. So, there is hardly anything to ask. But yes, there are some couple of questions on some observations and some data points for the future 3 quarters now because there is no -- you already explained everything in detail like one was on SMA2, and you said that two government accounts are already, I think one of them has already been regularized under SMA 1 or SMA 0. So, what is the exact number of that now? Where do we stand now vis -a-vis the June number on SMA-2. Shri Binod Kumar, MD & CEO SMA 2, these two accounts constitute around Rs. 3300 crores. So total SMA 2 more than Rs.5 crore was Rs. 4586 crore. So, these two accounts had come out of SMA 2, and now SMA 2 is for Rs.815 crores only. Ashok Ajmera, Analyst Yeah. So that's a very good encouraging, I mean statement from you because that was the major cause of worry that are we slipping or having the future NPAs or. I don't think these accounts will slip to NPA. Ashok Ajmera, Analyst Even the NPA provision in this quarter also is very less. So, there is hardly any chance, like for any further numbers going NPA increasing. Now, sir, with this part of the benefits, or part of rather, I would say the hit of the rate cuts has already been factored in, but still some parts are left out of the earlier rate cuts and now two more rate cuts of 25bps. So, total about 50bps is also expected in this year, also maybe little, I mean later half or later part of the year. So where do we, because the NIM today is comfortable at 3.23%. But going forward, will you be able to protect that 3.1% or 3.15% with this lag effect as well as the future effect on the -- I mean, effect of the future rate cuts? Shri Binod Kumar, MD & CEO I think we will be able to, because see, from this quarter onwards the bulk rate has come down by more than 100bps. So, the impact of that will start coming in this quarter plus rate cuts have also happened in retail term deposit. So, the impact of that will also start coming out. In another three months to six months, around my Rs. 86,000 crores will be repriced. So, the impact of that will also start coming in. So, I am hopeful that I will be maintaining between 3.15% to 3.30%. Ashok Ajmera, Analyst That's very good, sir. Sir, you have been giving a little conservative target, goals and achieving it. That's very good. But looking at the current trend and with your Rs. 88,000 crores of the sanctioned or in pipeline, I think it was Rs. 88,000 crores isn't it, you said. Shri Binod Kumar, MD & CEO Yeah, yeah. Rs. 88,000 crores we have sanctioned in this quarter. Ashok Ajmera, Analyst Is there any chance of upgrading the targets for the credit, going to may be 13%, 14%? Or will we stick to that 10% to 12% only, sir? Shri Binod Kumar, MD & CEO As of now, we’ll try to stick between 10-12%; we'll try to be on the higher band of the guidance. Ashok Ajmera, Analyst Okay. Sir, one last thing in this round. You had said in last quarter's meet that you are not encouraging much co-lending or increasing your book by participation by others because you are not fully geared up or prepared digitally. Your digital capability is not there to that extent. So, whether there is any change now? Would you be looking for those kinds of arrangements to increase your overall loan book? And secondly, coupled with this, with RBI now relaxing the collaterals; gold collateral for the agri loans of less than Rs. 2 lakhs, do you think that some major chunk can go there now when you can accept the collateral and give the loans? No. Actually, what happened, let me explain to you. Co-lending, we are still not prepared for our digital platform. So, as and when our digital platform is ready, we are not against co -lending, only technological requirement is there. So as and when we have technological requirements, we can go up for co -lending, number one. Number two, agriculture, we have this gold loan up to Rs. 2 crores, they have allowed now to take Rs. 2 lakhs. Ashok Ajmera, Analyst Rs. 2 lakhs Shri Binod Kumar, MD & CEO Rs. 2 lakhs, if they are willingly providing. So, when draft guidelines came, we have already initiated shifting this gold loan to retail loan. So now, at least with this, we can further take them as agriculture. Ashok Ajmera, Analyst So, the last one is, sir, on the treasury. Indian Bank is known for making very good treasury profit, good arbitrage -- good arbitrage even in the foreign currency. So, going forward and with the rate cuts already there and further rate cuts coming, do you think that we will make some bumper good profit from the treasury in the remaining three quarters? Shri Binod Kumar, MD & CEO No. Definitely. So even if you see last quarter also, we have from Forex arbitrage, say, we have earned around Rs. 158 crores and treasury profit, we will book as per requirement because, say, if I sell some of the higher yielding, then again, whatever we'll purchase, that will be low yielding. So, we will book profit as per requirement only. I mean, not a very bumper or something like that. Ashok Ajmera, Analyst Okay. Okay, sir. Thank you. Just if you can tell me any buffer provision, which we still have now in our books? Shri Binod Kumar, MD & CEO No, see, we have various policies for providing standard assets. So, we are following that policy. I may share with you, like on SMA-2, we have a policy of providing 10%, which is not required, but we have a policy. So similar, there are various pockets where, as per our policy, we keep on providing. Ashok Ajmera, Analyst All right, sir. Thank you. And all the best to you, sir. Shri Ashutosh Choudhury, Executive Director Thank you. Thank you, Ajmera ji. Anand Dama (Host – Emkay Global) Thank you, Ajmera ji. Ashok Ajmera, Analyst Have some time for physical interaction, sir, also. Shri Binod Kumar, MD & CEO We'll come. First week or second week, we'll come. Anand Dama (Host – Emkay Global) Thank you. We'll take the next question from Jayant Kharote. Jayant, please unmute yourself. Jayant Kharote, Analyst Am I audible? Anand Dama (Host – Emkay Global) Yeah, Jayant. Please go ahead. You're audible. Shri Binod Kumar, MD & CEO Yeah. Yeah. You're audible. Jayant Kharote, Analyst Yeah. So, the question is on the asset yields. How much of the current rate cut has been passed on? And also, if you could highlight on the MCLR book, how much of the book would be corporate where competitive intensity could sort of drive some repricing decisions for us? Shri Binod Kumar, MD & CEO See, my MCLR book is 52% and, external benchmark linked is 40.46% and within MCLR, 1-year MCLR-linked is 41%. So, a substantial portion of even MCLR is linked to 1-year MCLR. Coming to your question of – Jayant Kharote, Analyst The transmission, how much of – Transmission, so external benchmark linked has happened immediately, we have done on the very next day of the rate cut. We have passed on. So, on 41, 40% of the book has already been passed on. Coming to MCLR since the cost of deposit has not come down, although in the last three months MCLR has come down by 5 bps each month. But by going forward only MCLR will start coming down as and when our cost of deposit starts coming down and marginal cost starts coming down. Jayant Kharote, Analyst Sir, but the question is , on margin trajectory would you expect the second quarter margins to take a further hit because of the two months that will be left? Shri Binod Kumar, MD & CEO Yes, yes there will be, there will be some margin reduction further. Jayant Kharote, Analyst And you're still comfortable with the full year guidance of 3.15% to 3.30%. Shri Binod Kumar, MD & CEO 3.15, I think we will be able to maintain. Jayant Kharote, Analyst And sir, last question. Shri Binod Kumar, MD & CEO Unless there are some very aggressive rate cuts, then, of course, then we will have to think otherwise we will be able to maintain. Jayant Kharote, Analyst So, the last question on the deposit mix. So, there is some pressure on deposit growth, and we've seen the CDs books of a lot of banks rising. How comfortable are you with the mix of CDs moving up? And if you could also help us understand what the growth in that book is. Shri Binod Kumar, MD & CEO No. let me explain why my credit deposit growth has not been there. If you, I mean bulk, bulk, I am saying including CD and bulk also. So that book in March was Rs.1.41 Lakh crore and in June it is only Rs.1.45 Lakh crore. So hardly we have taken Rs.4000 crores increase. So not much of bulk. We are not taking very aggressively because that is at a cost. Jayant Kharote, Analyst And are you comfortable growing the bulk book in case retail falls short to fund your growth? I mean if there is no option left and still, we are making some margin, we will. Jayant Kharote, Analyst Sorry, the question is essentially growth versus margin, will you pick growth over margin? Shri Binod Kumar, MD & CEO No, no, we will strike balance. Like I told in the corporate book, we said around Rs. 12,000 crores. So that will depend on what, at what stage, what margin we are getting. That will depend on that. Say we are at times even bulk, at times we get very cheaper. So, at that point of time there is no harm in taking even bulk. Jayant Kharote, Analyst Understood, sir. Thank you and best of luck. Shri Binod Kumar, MD & CEO Thank you. Anand Dama (Host – Emkay Global) Thank you. Jayant. The next question will take from Mahrukh. Mahrukh, please unmute yourself. Mahrukh Adajania, Analyst Hello. Hello, sir. Congratulations. Shri Binod Kumar, MD & CEO Thank you, Mahrukh. Mahrukh Adajania, Analyst Sir, I have a couple of questions. I think Jayant already asked, but just to dwell a little deep, so our margins have fallen by 14bps this quarter, right? And next quarter, there will be some impact of the June rate cut, and there will be some amount of MCLR repricing as well. So, given all that, would you say that the quantum of margin decline would reduce in the second quarter, or it could be similar? Shri Binod Kumar, MD & CEO No, quantum of margin decline will reduce from this quarter onwards because bulk will also start repricing, and we have also gone for revision of rate in retail term deposit. And also, we have gone for some rate rationalization in saving funds. So, this quarter from 1st of July. So, this quarter onwards, this rate of decline should come down. Mahrukh Adajania, Analyst Okay, sir. Got it. And sir, just in terms of retail term deposits, how much would they reprice in one quarter? Because we know all banks have 13-month to 15-month maturity, but it may be lumpy in some quarters, not lumpy. So, on a ballpark, what could you say would be the repricing in the second quarter? Shri Binod Kumar, MD & CEO So, my retail term deposit is around Rs. 2,50,288 crores. So out of that, Rs.86,000 crore is repricing in the next three months to six months. Mahrukh Adajania, Analyst Rs.86,000 crore in next three months to six months. Okay. Okay, sir. Very helpful. And just one last question. In terms of competition, right? Where do you think private banks are more aggressive relative to PSU banks? for instance, PSU banks have recouped their market share in home loans. So, where are private banks really very aggressive in pricing in which segments? Shri Binod Kumar, MD & CEO Very rightly, you are saying, but may be because of their strategy also. Since they have some CD ratio constraint in the past quarter, and very openly, he came and told, we will consolidate. So certain segments like MSME, we are seeing good competition from the private sector banks and certain export-oriented units, there also we are seeing very high competition. Mahrukh Adajania, Analyst Okay. And in Corporate, it's largely PSUs only, right, like, say, in the A category or AA category. Would it be PSUs or private? Shri Binod Kumar, MD & CEO Mostly PSUs. Mahrukh Adajania, Analyst And one or two private banks come, but smaller banks come, but that is for a very small amount. Mahrukh Adajania, Analyst Got it, sir. Got it, sir. Sir, this is so helpful. Thank you so much. Thank you. Thank you. Thank you, Mahrukh. Anand Dama (Host – Emkay Global) Thank you, Mahrukh. Next question, we'll take from Mona Khetan. Mona, please unmute yourself. Mona Khetan, Analyst Hi. Good evening, sir, and congratulations on a good set of numbers. So firstly on the bulk deposits you mentioned about Rs. 1.4 lakh crore. What would be the maturity pattern of these deposits , maturity between three months, six months, and so on Shri Binod Kumar, MD & CEO 50% one year and 50% below one year. Mona Khetan, Analyst Okay. So, 50% will be after one year or at one year. Shri Binod Kumar, MD & CEO after one year or at one year. Mona Khetan, Analyst Okay. Okay. Shri Binod Kumar, MD & CEO Normally, bulk we are not taking for more than one year. In very few circumstances we take for more than one year. Mona Khetan, Analyst Okay. So, is it fair to say that in the next six months or so, about 50% of this will mature? Is that a fair understanding? Or in the next nine months, that's the case. Shri Binod Kumar, MD & CEO No, in six months, because around this quarter itself, 33,000 will reprice. So out of 1,04,000, 33,000 will reprice in this quarter itself. Mona Khetan, Analyst Okay. Okay. Got it. And sir, secondly, if I look at your, you've made significant provisions which is the PCR on your existing NPA, and the trend on slippages have also moderated. So, is it fair to assume that sort of credit costs will settle down between 50 bps to 70 bps, or what are the risks you're seeing to credit cost, if any? No, no. Very rightly we are saying, although we have given guidance of credit card less than one, but it will settle somewhere between 50 to 70, or maybe less than that. Mona Khetan, Analyst Sure, sure, got it. And also you've been providing on standard assets. This quarter also, you made some additional provisions. So if I have to look at the outstanding standard provisions, including general restructured and everything, where would it stand? Shri Binod Kumar, MD & CEO I think restructured, et c, where smaller loans are there, we have100% we have made? Restructured, we have made 25%. Mona Khetan, Analyst

Shri Binod Kumar, MD & CEO And we are taking various measures for providing like one example I told you even in SMA book, SMA-2 we are making 10% provision. And wherever we see -- yes, Mona. Mona Khetan, Analyst Yeah. No, sir. Please go ahead. Shri Binod Kumar, MD & CEO Yeah, so wherever we see some sector also there is some stress, so we take proactive measures. Mona Khetan, Analyst Right. So, if I have to understand the outstanding standard provisions, where would it be? You can tell me mix of general and restructured as well, particularly into these accounts, because you've been consistently providing. So just wanted to get the outstanding number. Yeah. Absolutely. That number, we'll see. Exactly, I don't remember. Mona Khetan, Analyst We'll see. Yeah. Mona Khetan, Analyst Got it. Got it. And also, just finally, on the recovery from written off, it looks fairly strong from a Q1 perspective. So, anything you want to highlight there that has played out for you? Shri Binod Kumar, MD & CEO No, no. It is basically on account of one big account has been resolved. Mona Khetan, Analyst

Shri Binod Kumar, MD & CEO In one account itself, Rs. 340 crores has come. So that is because of that. Mona Khetan, Analyst Okay. Got it. Thanks so much. If you could just come back on those outstanding provisions number standard provisions, that will be very helpful. Thank you. Shri Binod Kumar, MD & CEO

Anand Dama (Host – Emkay Global) Thank you, Mona. So, before we take the next question, there was one question in the chat, which talks about, like, what's the recovery from written off that you expect in the second quarter and for the full year. I believe you gave a guidance of about Rs. 1,800 crores to Rs. 2,000 crores odd, but I think you already had Rs. 450 crores in the first quarter. So, do you want to revise that number? And any color on, like second quarter, what could be the recovery from written -off pool? Additionally, you also talked about, at the PSLC, there is some relief, which has come from the RBI now. So, then you intend to book some PSLC fees in second quarter? Shri Binod Kumar, MD & CEO No. So AUC recovery, whatever, we have given guidance of Rs. 2,000 crores will not revise because already what account has come, we have already accounted for that. So it has come in this quarter. But next quarter also, AUC recovery will be in the range of Rs. 400 crores to Rs. 500 crores. So, and PSLC, we have already booked. If you see, we have already booked in this quarter of Rs. 258 crores. Anand Dama (Host – Emkay Global) Okay. But can that run rate go up now that there is a relief? That's the question. No. No, because since that guideline was applicable from 1st of April. So, we have already taken measures in PSLC, wherever we have already sold around Rs. 1000 crore PSLC income will come during this year. Out of that pro rata, we have booked to one-fourth in this quarter. Anand Dama (Host – Emkay Global) Sure. Sir, secondly, your SMA pool if you look at and the SMA pool of another bank where they had this government -related agri project. What's happening on that? I believe you also have an exposure to that agri project. Is it stressed? Are you getting timely recoveries due after some delay? What's happening over there in that account? Shri Binod Kumar, MD & CEO No, we are getting recovery in these accounts. I don't think they will slip because, with some delay, we are getting recovery. Anand Dama (Host – Emkay Global) Okay. So, you don't expect any, I mean that account to turn NPA right? Shri Binod Kumar, MD & CEO No, no. Shri Brajesh Kumar Singh, Executive Director Government guaranteed also we have provided. Anand Dama (Host – Emkay Global) Sure, sure. Next question will take from Devendra Kumar. Devendra, please unmute yourself. Devendra Kumar, Analyst Hello? Yes, Mr. Devendra. Devendra Kumar, Analyst Hello, Am I audible? Yeah. Yes, audible. Devendra Kumar, Analyst Okay. Thank you, sir, for giving me opportunity, and thanks for the good set of numbers even above the guidance. Sir, actually, I just want to know what type of initiative are being taken for increasing customer base, like advertisement and other things. We are taking good steps for digital transformation. But how those information are shared with normal public so that they can attract towards bank? Shri Binod Kumar, MD & CEO So, we are taking various measures, and publicity is one of them. We are making good publicity of our products on various visible platforms. Digital marketing, also we are adopting, and apart from that we have a very strong team of RAC, Resource Acquisition Centers 100 we have RACs. So their people also go on for marketing. And we have a subsidiary IGSS. So, we are using these manpower also for canvassing our liability products and also generating lead for asset products like a home loan, car vehicle loan etc. So multi-pronged approach we are taking. Devendra Kumar, Analyst Okay, sir. Thank you. Thank you very much, sir. Thank you. Shri Binod Kumar, MD & CEO Thank you. Anand Dama (Host – Emkay Global) Thank you. Devendra. We'll take last question from Sushil Choksey. Sushil, please unmute yourself. Sushil Choksey, Analyst Congratulation to team Indian Bank for excellent result. Shri Binod Kumar, MD & CEO Thank you, Sushil ji. Sushil Choksey, Analyst My first question. Sir, my first question is what is the likely balance between RAM and corporate for the year end?

35. Sushil Choksey, Analyst Sir, what is the average yield which we are getting on RAM today? RAM average yield, and we have. Average yield on RAM will share with you. Right now, I don't have. Sushil Choksey, Analyst No problem, sir. I'll take it offline. Second thing, sir, most of the bankers in the Q1 con call are indicating whether it's a murmur on the street or general assumption there will be two more rate cuts in the second half. In view of that, what is the outlook on treasury? And how are we prepared for if there are two more rate cuts on overall business scenario? Shri Binod Kumar, MD & CEO So, overall business scenario we have given guidance, we will achieve that. Advance, we have given guidance of 10% to 12% and deposit also we have given 8% to 10%, we will achieve that. I'm quite confident in that count. If there are two rates cut, of course there will be profit booking in treasury. But when we have given guidance of 3.15 to 3.30, we have taken into account 100 bps rate cut in the year. 75 already happened, and if as you are saying another 50 happens, then of course then we will have to think about our NIM strategy. So, how we can protect at least whatever guidance we have given. We will have to rework that. Sushil Choksey, Analyst Sir, Indian Bank has taken lots of initiative, where digitization, cross-sell, cash management, back office services over the number of years, and Bank has done well to transform. Now, this transformation and digital expenditure which you have done, is it likely that as liquidity in the system is increasing, rates have dropped. Our CASA can move back to 41%, 42% in a year, year and a half. Shri Binod Kumar, MD & CEO No, I don't think. CASA moving up will be really a challenge on two counts. One, government is also adopting JIT in many states. And this pace of increasing JIT will further increase only. And number two, if you see where people are shifting their saving to other alternates also. So, and this trend I expect will continue. So, maintaining even around 40% will be a challenge, to be very candid with you. Sushil Choksey, Analyst Okay. So now second thing is southern states, specifically where Indian Bank presence is high. There's a lot of re-energizing of the states happening, because whether it is China Plus One story, GCC, a lot of global manufacturing capabilities coming to India. So, job creation is happening, which ultimately leads to betterment for banks, whether it's for corporate lending or consumer is concerned. Are we seeing in your sanctions such kind of borrowing demand, specifically from new industries? No, Sir. See, the amount of CapEx expected is not happening, private CapEx, particularly. Public/ government CapEx, yes, it is happening. But we are seeing some traction in a few of the sectors, like renewable energy, of course, there is good demand in solar also -- solar module also. So, some traction we are seeing there. Then city gas distribution also. Since government is trying to lay down line for the gas distribution. So traction is being seen in that also. And in PLI sectors, also, we have seen some traction. But the amount of CapEx, which is private CapEx, which is expected, it is not up to that level. If you see; and one more challenge is that all good-rated companies are going to market for raising their resources instead of either CP or bond. Sushil Choksey, Analyst Okay. Sir, second thing is India signed an FTA with UK, many such more deals will happen. So, there is assumption with Bangladesh in turmoil. Textile, which is the big center of Tamil Nadu and adjoining states. Similar way, leather is likely to be where Tamil Nadu is a big player. Are we sensing on specifically MSME, any demand which is supporting the bank for business growth? Shri Binod Kumar, MD & CEO Yeah. So, I will reply it. There was some stress in textile sector. So now, we are seeing sign of revival in that. Sushil Choksey, Analyst So, prospects of business for Indian Bank may get better in that segment? Shri Binod Kumar, MD & CEO In this sector. Yes. Sushil Choksey, Analyst Okay. And, sir, any specific digital spends which we are likely to this year and human resource as you have taken so many initiatives, which will be very important for the bank? Shri Binod Kumar, MD & CEO Yes, of course, our IT spend will be in the range of approximately Rs. 1,500 crores for this year also. Last year also, it was around Rs. 1,400 crores, Rs. 1,300 crores. So, it will be in that range. Manpower, also, we are around 3,000 fresh hiring will happen in this year. So out of that part will be in a specialized sector, like we are also going for cybersecurity, IT sector, risk management, Forex officer. So specialized hiring will also happen and generalist hiring will also happen. Sushil Choksey, Analyst So, you highlighted in your opening remark that you will be opening 119 branches in the 119th year. Very good luck for that. These branches are likely to be more of metro tier two cities or interiors. See in few of the sectors, my presence is not much, like in Mumbai, Gujarat, even Rajasthan. Some Sectors, they are. If you take Mumbai or Gujarat, they are contributing around almost 35% to GDP. Our presence is only 7%. So, in these sectors, we'll open the branches wherever potential is there. We will not; it will not be a specific to any metro or urban area. But in this sector, we will be opening branches. Sushil Choksey, Analyst This will be along with your mid corporate, large corporate or it will be all specific branches, more of retail. Shri Binod Kumar, MD & CEO No, it will be general branches. Sushil Choksey, Analyst Thank you and good luck for the year and best wishes to the entire management. Yeah. Thank you. Anand Dama (Host – Emkay Global) Thank you, Sushil ji. We will take that as a last question. With this, we come to the end of Indian Bank's post results conference call for first quarter FY26. I now request the management to give their closing remarks. Shri Binod Kumar, MD & CEO We have already discussed everything but two, three things. Asset quality, I mean we are on very right track on the asset quality. Gross NPA, we have given guidance of less than 3, but may be, we will do better than that. Slippage also will be able to maintain a healthy number. And growth also, we will be around whatever guidance given. Our endeavor will be to on the upper band of our guidance. And profit also we will see steady profit because I don't believe in the one quarter going showing a very good numbers and then second quarter going down. So, our endeavor will be to provide steady growth or steady decline, wherever decline is there like gross NPA, net NPA, steady decline will ensure. Thank you, Anand ji. Anand Dama (Host – Emkay Global) Thank you, sir. We thank the management, and we thank all the participants. Have a happy evening. Have a good day. Bye-bye. Thank you. Thank you. Thank you.