Very rightly pointed out. The explanation didn’t make sense numerically; I mean, citing the Tamil Nadu floods as the reason for the increase in provisions. This issue was also raised by one of the participants in the Q1 conference call. I didn’t feel that a satisfactory answer was given. According to their own figures, the impact of JLG should not have been more than 3 basis points on the credit cost, yet the increase was nearly 15 basis points. It seems like there were issues in other parts of the portfolio as well.
| Subscribe To Our Free Newsletter |
