Increase in GNPA is due to change in accounting process as discussed in length by management in concall.Spicejet repayment will reflect in next quarter in form of decreasing npa.
After listening concall , it appears that management is taking loan book growth seriously and were very eager to enter in new segment of colending, lending to nbfc outside tamil nadu, vehicle and home loan division.
It appears that management is accepting what it means to be over conservative in lending sme segment when it is underperforming. They are also explaining how there peers are able to maintain loan book growth by venturing in other segment.
Same show is expected to continue in next quarter with improvement in npa.
Disclosure: Banking is not my core competency and my views may be totally wrong. Taken tracking position.
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