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CENTRALBK - Central Bank

📊 NSE: CENTRALBK 🏢 Banks - Public Sector 📅 Last Updated: 12/13/2025 20:48

📢 Recent Corporate Announcements

Central Bank of India Releases Q4 & FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 30 Apr 2026, 08:54 PM

Central Bank of India has made the audio recording of its earnings call held on April 30, 2026, available to the public. The call discussed the bank's audited financial results for the fourth quarter and the full financial year ending March 31, 2026. This disclosure follows the bank's previous notification regarding the scheduled meeting with analysts and institutional investors. Investors can access the recording through the provided links on the bank's official website to understand management's perspective on performance.

Audio recording of the conference call held on April 30, 2026, is now publicly accessible.
The call covered the Audited Financial Results for Q4 and the full financial year ended March 31, 2026.
The disclosure is in compliance with SEBI listing obligations regarding investor meets.
Links to the recording are available on the bank's investor relations portal.

💡 Investors should listen to the recording to understand management's commentary on credit growth, NIM trends, and asset quality for the upcoming fiscal year.

Central Bank of India Declares 4th Interim Dividend of ₹0.60 per Share; Record Date May 8

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 30 Apr 2026, 06:51 PM

Central Bank of India has announced its 4th interim dividend for the financial year 2025-26 following a board meeting on April 30, 2026. The bank has approved a dividend of 6%, which translates to ₹0.60 per equity share of face value ₹10. The record date to determine shareholder eligibility for this payout has been fixed as May 8, 2026. This consistent dividend distribution indicates a stable cash flow and a policy of rewarding shareholders.

Approved 4th interim dividend of 6% for the financial year 2025-26
Dividend amount is set at ₹0.60 per equity share with a face value of ₹10
Record date for determining eligibility is Friday, May 8, 2026
The announcement follows the Board of Directors meeting held on April 30, 2026

💡 Investors interested in the dividend should ensure they hold the stock before the ex-dividend date to qualify for the ₹0.60 per share payout.

Central Bank of India FY26 Net Profit Rises 15% to ₹4,369 Cr; Asset Quality Improves Significantly

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 30 Apr 2026, 06:19 PM

Central Bank of India reported a robust 15.43% YoY growth in annual net profit to ₹4,369 crore for FY26. While Q4FY26 net profit fell to ₹724 crore due to a one-time deferred tax asset (DTA) impact of ₹632 crore, the underlying operational performance remained strong with Net Interest Income growing 17.74% in the quarter. Asset quality reached multi-year highs with Net NPA dropping to 0.49% and a high Provision Coverage Ratio of 95.97%. The bank also proposed an additional interim dividend of ₹0.60 per share for Q4.

Total business grew 15.60% YoY to ₹8,12,439 crore, driven by 18.76% growth in gross advances.
Gross NPA improved by 51 bps to 2.67%, while Net NPA improved to 0.49%.
Q4 Net Interest Income (NII) surged 17.74% YoY to ₹4,002 crore.
Capital Adequacy Ratio (CRAR) strengthened to 17.91% with Tier I at 15.61%.
Proposed Q4 interim dividend of ₹0.60 per share, totaling ₹1.20 for the full financial year.

💡 Investors should ignore the headline Q4 profit dip as it was caused by a non-cash one-time tax adjustment; the core operational metrics and asset quality are trending strongly positive. The bank's high PCR and improving ROE of 13% make it a solid pick in the PSU banking space.

Central Bank of India to Hold Q4FY26 Earnings Call on April 30, 2026

🔵 WATCH ⭐ 4/10

EARNINGS 📅 27 Apr 2026, 04:40 PM

Central Bank of India has scheduled a conference call for analysts and investors on April 30, 2026, at 6:00 PM IST. The primary objective is to discuss the bank's financial performance for the quarter and full financial year ending March 31, 2026. The call will feature top management, including the MD & CEO, Executive Directors, and the CFO. This event is a standard procedure following the release of annual financial results to provide clarity on growth and asset quality.

Earnings call scheduled for April 30, 2026, at 18:00 IST to discuss Q4 and FY26 results.
Management representation includes MD & CEO Shri Kalyan Kumar and CFO Shri Mukul N. Dandige.
The session is organized by Systematix Institutional Equities and will be held virtually.
Primary dial-in numbers for the conference are +91 22 6280 1297 and +91 22 7115 8198.

💡 Investors should attend or review the transcript of the call to assess management's outlook on credit growth and NPA recovery. No immediate action is required until the actual financial numbers are disclosed.

Central Bank of India Appoints Raj Kokil Singh as Chief Risk Officer for 3-Year Tenure

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 20 Apr 2026, 11:24 PM

Central Bank of India has appointed Shri Raj Kokil Singh as the new Chief Risk Officer (CRO) effective April 20, 2026, for a fixed term of three years. He replaces Dr. G. Bhaskar, who has been reassigned to handle the Treasury portfolio. Mr. Singh is a seasoned banker with over 19 years of experience across Risk Management, Credit, and Treasury. His professional credentials include Financial Risk Manager (FRM) and Sustainability & Climate Risk (SCR) certifications, which are vital for modern banking oversight.

Shri Raj Kokil Singh appointed as Chief Risk Officer for a fixed tenure of 3 years starting April 20, 2026
Appointee brings over 19 years of banking experience from Central Bank, Union Bank of India, and Syndicate Bank
Holds specialized certifications including FRM and Sustainability & Climate Risk (SCR) from GARP
Outgoing CRO Dr. G. Bhaskar has been transitioned to lead the Bank's Treasury portfolio

💡 This is a routine management transition and requires no immediate portfolio changes. Investors should monitor if the new CRO's specialized risk expertise contributes to improved asset quality management over the next few quarters.

Central Bank of India Reports Bond Rating Upgrade to AA and Timely Debt Servicing for FY26

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 20 Apr 2026, 04:28 PM

Central Bank of India has filed its annual disclosure for the centralized database of corporate bonds for the financial year ended March 31, 2026. The bank reported a credit rating upgrade by ICRA to AA (Stable) from AA- (Positive) for its active bond series. Furthermore, the bank confirmed the successful redemption of a bond series via call option in May 2025 and maintained a clean record with zero defaults on interest or principal payments throughout the year.

ICRA upgraded the credit rating for ISIN INE483A08049 to AA (Stable) on June 9, 2025.
CRISIL reaffirmed the AA (Stable) rating for the bank's corporate bonds on January 22, 2026.
Successfully redeemed bonds under ISIN INE483A08031 on May 20, 2025, through a call option exercise.
Confirmed 100% timely payment of all interest and redemption obligations for the financial year 2025-26.
Reported zero history of defaults or delays in servicing debt securities.

💡 The rating upgrade and timely debt redemptions reflect an improving credit profile and financial stability for the bank. Investors should maintain their positions as the bank demonstrates disciplined liability management.

Central Bank of India: Independent Director Pradip Khimani Completes Tenure on April 10, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 10 Apr 2026, 05:19 PM

Central Bank of India has announced that Shri Pradip P. Khimani has ceased to be a Director of the Bank effective from the close of business hours on April 10, 2026. This change is due to the completion of his prescribed tenure as an Independent Director. The bank has formally notified the stock exchanges in compliance with Regulation 30 and 51 of SEBI (LODR) Regulations. This is a routine management update and does not impact the bank's operational strategy.

Shri Pradip P. Khimani ceased to be a Director effective April 10, 2026.
The cessation is a result of the completion of his official tenure.
The disclosure was made under Regulation 30 and 51 of SEBI (LODR) Regulations, 2015.
The bank's filing was dated April 10, 2026, following an earlier reference letter from April 2025.

💡 No action is required as this is a routine board rotation. Investors should monitor for the appointment of a new independent director to ensure the board remains well-balanced.

Central Bank of India Q4 FY26 Business Grows 15.65% YoY to ₹8.12 Lakh Crore

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Apr 2026, 04:15 PM

Central Bank of India reported a robust 15.65% YoY growth in total business, reaching ₹8,12,814 crore for the quarter ending March 31, 2026. The growth was primarily driven by a strong 18.90% YoY increase in gross advances, which stood at ₹3,44,929 crore. While total deposits grew by 13.37% YoY, the bank managed a slight sequential improvement in its CASA ratio to 47.31%. The Credit-Deposit (CD) ratio saw a significant improvement of 335 bps YoY to 73.88%, indicating more efficient capital deployment.

Total business reached ₹8,12,814 crore, up 15.65% YoY and 5.00% QoQ.
Gross advances grew significantly by 18.90% YoY to ₹3,44,929 crore.
Total deposits increased 13.37% YoY to ₹4,67,885 crore, with CASA at ₹2,20,886 crore.
CD Ratio improved by 335 bps YoY and 188 bps QoQ to reach 73.88%.
CASA ratio stood at 47.31%, showing a marginal sequential recovery of 18 bps.

💡 The strong credit growth outpacing deposit growth and the rising CD ratio are positive signs for Net Interest Income. Investors should hold and monitor the full audited results for details on Net Interest Margins (NIMs) and asset quality.

Central Bank of India Reports 89.27% Promoter Holding with Zero Encumbrance for FY26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 02 Apr 2026, 11:05 AM

Central Bank of India has submitted its annual disclosure regarding promoter shareholding for the financial year ending March 31, 2026. The President of India, acting as the promoter, holds 8,08,03,91,687 equity shares, representing an 89.27% stake in the bank. Crucially, the bank declared that the promoter has not made any encumbrance or pledging of these shares, directly or indirectly, during the 2025-26 fiscal year. This routine filing confirms the stability of the government's majority ownership and the absence of debt-related risks associated with promoter shares.

Promoter (President of India) holds 8,08,03,91,687 equity shares as of March 31, 2026.
Total promoter shareholding remains high at 89.27% of the bank's equity.
Declaration confirms zero encumbrance or pledging of promoter shares during FY 2025-26.
Compliance filing submitted under Regulation 31(4) and 31(5) of SEBI SAST Regulations.

💡 This is a routine regulatory disclosure with no immediate impact on stock valuation; investors should continue to monitor the bank's quarterly financial performance and NPA levels.

Central Bank of India Reports Zero Promoter Pledging for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 02 Apr 2026, 11:03 AM

Central Bank of India has submitted its annual disclosure under SEBI (SAST) Regulations for the financial year ending March 31, 2026. The President of India, acting as the promoter, holds 8,08,03,91,687 equity shares, representing an 89.27% stake in the bank. Crucially, the bank confirmed that no shares held by the promoter or persons acting in concert were encumbered or pledged during the year. This routine disclosure affirms the stability of the government's shareholding in the PSU bank.

Promoter (President of India) holds 8,08,03,91,687 equity shares as of March 31, 2026
Total promoter shareholding remains high at 89.27%
Zero encumbrances or pledges were made by the promoter during the financial year 2025-26
Compliance filing under Regulation 31(4) and 31(5) of SEBI (SAST) Regulations

💡 This is a routine regulatory filing with no immediate impact on stock valuation. Investors should continue to monitor the bank's NPA levels and credit growth for long-term performance.

Central Bank of India Receives ₹296.08 Crore Income Tax Demand Notice

🔵 WATCH ⭐ 6/10

LEGAL 📅 31 Mar 2026, 09:55 AM

Central Bank of India has received an assessment order from the Income Tax Department for the Assessment Year 2024-25, involving a tax demand of ₹296.08 crores. The demand arises from the re-computation of income and disallowances of certain claims made in the bank's tax returns. The bank has officially stated its intention to challenge this order in the appropriate forum, asserting that it has strong legal and factual grounds. Management expects no immediate financial impact as they believe the demand will be set aside during the appeal process.

Income Tax Department issued a demand notice of ₹296.08 crores for Assessment Year 2024-25.
The order was passed under Section 143(3) read with Section 144B of the Income Tax Act, 1961.
The demand is based on re-computation of income and disallowances of specific claims in tax returns.
The bank is in the process of filing an appeal and expects the entire demand to be vacated.
Management maintains that there will be no impact on the bank's financial or operational activities.

💡 Investors should monitor the outcome of the bank's appeal against the tax demand, though such disputes are common in the banking sector and rarely result in immediate cash outflows. No immediate change in investment thesis is required based on this regulatory update.

Central Bank of India to Close Trading Window from April 1, 2026 for Q4 and FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Mar 2026, 04:26 PM

Central Bank of India has announced the closure of its trading window effective April 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the bank's financial results for the fourth quarter and the full financial year ending March 31, 2026. The restriction applies to directors, designated persons, and their immediate relatives. The window will remain closed until 48 hours after the financial results are officially declared to the exchanges.

Trading window closure starts from April 1, 2026.
Applies to Directors, Designated employees/persons, and their immediate relatives.
Window remains closed until 48 hours after the declaration of Q4 and FY26 financial results.
The specific date for the Board Meeting to consider financial results will be announced in due course.

💡 This is a routine regulatory announcement with no impact on the bank's fundamentals. Investors should monitor for the future announcement of the board meeting date to track the bank's Q4 performance.

Central Bank of India Partners with IIFL Finance for Co-Lending Expansion

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 12 Mar 2026, 11:41 AM

Central Bank of India has entered into a strategic co-lending partnership with IIFL Finance Limited to expand its loan portfolio. The collaboration will leverage IIFL Finance's extensive network of 4,761 branches and its reported AUM of Rs. 49,027.00 crores as of December 2025. Under this arrangement, IIFL will originate and service loans, while both entities will jointly process proposals based on credit parameters. This move is aimed at increasing outreach to underserved segments and offering competitive interest rates to borrowers.

Co-lending partnership established with IIFL Finance Limited under RBI guidelines.
IIFL Finance brings a massive distribution network of 4,761 branches across India.
IIFL Finance reported Assets Under Management (AUM) of Rs. 49,027.00 crores as of Dec 31, 2025.
The partnership focuses on retail-focused segments, particularly gold loans and underserved markets.
IIFL will handle the entire loan lifecycle servicing while sharing credit risk with the bank.

💡 Investors should view this as a positive step for credit growth and portfolio diversification with lower operational costs. Monitor the bank's retail loan book growth and asset quality in the coming quarters to gauge the partnership's effectiveness.

Central Bank of India and IIFL Finance Enter Co-Lending Tie-up to Expand Retail Portfolio

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 12 Mar 2026, 11:40 AM

Central Bank of India has entered into a strategic co-lending partnership with IIFL Finance Limited to expand its retail loan reach. IIFL Finance, a leading NBFC with an AUM of Rs. 49,027.00 crores and 4,761 branches, will originate and service the loans. The partnership aims to offer competitive blended interest rates to borrowers, particularly in underserved segments. This collaboration follows the revised RBI Co-Lending Arrangement guidelines issued in November 2025.

Partnership with IIFL Finance which has a massive AUM of Rs. 49,027.00 crores as of Dec 2025.
Access to a wide distribution network of 4,761 branches across India for loan origination.
Focus on retail-focused segments and gold loans to drive portfolio expansion.
Jointly formulated credit parameters for loan processing with IIFL handling account servicing.
Compliance with the revised RBI Co-Lending Arrangement (CLA) guidelines dated 28.11.2025.

💡 Investors should monitor the growth of the co-lending book as it provides a low-cost expansion route for the bank's retail assets. This move is likely to improve the bank's credit-to-deposit ratio and yield on advances over the medium term.

Central Bank of India Renews Co-Lending Tie-up with Capri Global Capital (AUM ₹23,916 Cr)

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 10 Mar 2026, 07:00 PM

Central Bank of India has renewed its co-lending partnership with Capri Global Capital Ltd to offer secured Loan Against Property (LAP) and Gold Loans. Capri Global brings a substantial network of 1,331 branches across 19 states and an AUM of ₹23,916 crore as of December 2025. The partnership aims to leverage Capri's origination and servicing capabilities to expand the bank's credit portfolio at competitive rates. This arrangement complies with the revised RBI Co-Lending Arrangement guidelines issued in November 2025.

Renewal of co-lending partnership with Capri Global Capital Ltd for Secured LAP and Gold Loans
Capri Global Capital manages a significant AUM of ₹23,916 crore as of December 31, 2025
Access to an extensive distribution network of 1,331 branches across 19 States and Union Territories
Adherence to revised RBI Co-Lending Arrangement (CLA) guidelines dated November 28, 2025
Joint credit processing and blended interest rates designed to enhance customer outreach and portfolio growth

💡 Investors should monitor the growth in the bank's retail and MSME books through such partnerships, as they offer a low-cost expansion route. The focus on secured assets like Gold Loans and LAP is a positive sign for maintaining asset quality.

View All CENTRALBK Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total income grew 11.5% to INR 39,520 Cr in FY25 from INR 35,434 Cr in FY24. Interest income on advances rose 13.36% YoY to INR 22,339 Cr. Fee-based income for H1FY26 was INR 1,054 Cr, a slight decline of 0.57% YoY. Treasury income saw a significant decline of 52.55% YoY to INR 186 Cr in Q2FY26 compared to INR 392 Cr in Q2FY25.

Geographic Revenue Split

The bank operates a pan-India network of 4,556 branches and 4,174 ATMs as of September 2025. While specific regional revenue percentages are not disclosed, metropolitan cities account for 53.2% of total bank deposits as of March 2025, up from 50.9% in 2020.

Profitability Margins

Net Profit for FY25 was INR 3,785 Cr, up 48.5% from INR 2,549 Cr in FY24. Net Interest Margin (NIM) moderated to 3.05% in FY25 from 3.09% in FY24, further declining to 2.89% in Q2FY26 (a 52 bps YoY drop). Return on Assets (ROA) improved to 0.82% in FY25 from 0.60% in FY24.

EBITDA Margin

Operating profit was impacted by treasury income volatility, falling from INR 664 Cr to INR 186 Cr in a single quarter. Cost-to-Income ratio increased to 62.72% in Q2FY26 from 57.19% in Q2FY25, driven by a 339 bps increase in staff cost share and a 214 bps increase in other operating expenses.

Capital Expenditure

The bank raised INR 1,500 Cr through a Qualified Institutional Placement (QIP) in March 2025 to strengthen its capital base. Specific historical and planned physical CAPEX for branch infrastructure is not disclosed in INR Cr.

Credit Rating & Borrowing

The bank maintains a strong liquidity profile with a Liquidity Coverage Ratio (LCR) of 241.96% as of September 2025. Cost of deposits increased 21 bps YoY to 4.88% in Q2FY26. Capital Adequacy Ratio (CRAR) stood at 17.34% in H1FY26, well above the 11.5% regulatory requirement.

⚙️ Operational Drivers

Raw Materials

Not applicable for banking; however, 'Cost of Funds' represents the primary input cost, which stood at 4.88% in Q2FY26, up 13 bps YoY.

Key Suppliers

Not applicable; however, the bank relies on a diversified retail deposit base of INR 4,44,450 Cr as of September 2025 for its lending operations.

Capacity Expansion

Current network includes 4,556 branches and 4,174 ATMs. The bank is expanding its digital footprint through its Supply Chain Finance (SCF) platform and co-lending partnerships which reached an outstanding loan book of INR 14,285.08 Cr by March 2025.

Raw Material Costs

Interest expenses on deposits and borrowings are the primary costs. Cost of deposits rose to 4.88% in Q2FY26. The bank utilizes a high roll-over rate of deposits (above 90%) to manage funding stability.

Manufacturing Efficiency

Not applicable; banking efficiency is measured by the Cost-to-Income ratio, which was 62.72% in Q2FY26, and Yield on Advances, which was 8.36% in Q2FY26 (down 41 bps YoY).

Logistics & Distribution

Distribution is handled through 4,556 physical branches and digital channels. Staff costs, a key distribution expense, represent 39.52% of the Cost-to-Income ratio.

📈 Strategic Growth

Expected Growth Rate

10-16%

Growth Strategy

The bank is shifting its portfolio mix toward a 65:35 RAM-to-Corporate ratio. Growth is driven by co-lending partnerships (INR 14,285.08 Cr outstanding), the launch of a Supply Chain Finance (SCF) platform for vendor/dealer financing, and new MSME schemes like Cent MSE GIFT and Cent MSE SPICE. Strategic focus is on high-yield RAM segments which reached 71.54% of total advances by September 2025.

Products & Services

Home loans (63.32% of retail), MSME loans, Agriculture loans, Corporate Credit (working capital and digital invoice discounting), Mutual Funds (via Bandhan AMC), and Bancassurance.

Brand Portfolio

Central Bank of India, Centbank Home Finance Limited, Centbank Financial Services Limited, Cent MSE GIFT, Cent MSE SPICE.

New Products/Services

Supply Chain Finance (SCF) platform, Cent MSE GIFT (Green Investment), Cent MSE SPICE (Circular Economy), and a Distribution Agreement with Bandhan AMC for Mutual Funds.

Market Expansion

Expansion into underserved segments via co-lending with NBFCs/HFCs. Target sectors for FY26 include labour-intensive industries like Toy Manufacturing, Leather, and Startups.

Market Share & Ranking

Not disclosed in available documents; however, the bank's net advances grew at 16% in FY25, outperforming the industry growth of 12%.

Strategic Alliances

Bandhan AMC (Mutual Fund distribution), PSB Alliance Pvt. Ltd. (Digital SCF), Tata Motors Passenger Vehicles Ltd. (Anchor-based financing), and Indo Zambia Bank Limited (Joint Venture).

🌍 External Factors

Industry Trends

The banking industry is seeing a shift toward digital banking and co-lending. SCB credit growth hit a low of 11.03% in FY25. Public sector banks saw a record cumulative profit of INR 1.78 lakh crore in FY25, a 26% YoY increase.

Competitive Landscape

Competes with other Public Sector Banks and Private Sector Banks. Private banks saw a sharper drop in loan growth (9.5% decline in March 2025) compared to PSBs.

Competitive Moat

Moat is based on sovereign ownership (89.27% GoI stake), a century-old brand legacy, and a robust CASA base that provides a competitive cost of funds compared to the PSB average. These factors ensure systemic support and customer trust.

Macro Economic Sensitivity

Sensitive to MSME sector health and retail overleveraging. Industry-wide non-food credit growth declined from 20.2% to 11.0% in FY25, impacting the bank's growth environment.

Consumer Behavior

Shift toward digital banking and higher-yield term deposits. Term deposits bearing interest above 7% rose to 72.7% of total deposits in March 2025 from 64.2% a year ago.

Geopolitical Risks

Geopolitical uncertainties are cited as potential risks to foreign investment flows and economic sentiment, which could impact the bank's corporate credit book and treasury operations.

⚖️ Regulatory & Governance

Industry Regulations

Complies with RBI's Priority Sector Lending (PSL) norms, achieving 50.17% of ANBC against the 40% requirement. Transition to the Expected Credit Loss (ECL) provisioning framework is a key monitorable.

Environmental Compliance

The bank factors ESG principles into lending decisions. It launched 'Cent MSE GIFT' for green financing and 'Cent MSE SPICE' for the circular economy. ESG disclosures are currently 'evolving'.

Legal Contingencies

The bank monitors 'Large Value Frauds' through a Special Committee. Specific pending court case values in INR are not disclosed in the available documents.

⚠️ Risk Analysis

Key Uncertainties

Asset quality vulnerabilities from the co-lending portfolio and potential slippages from the MSME and retail segments. Treasury income volatility remains a risk to quarterly earnings stability.

Geographic Concentration Risk

High concentration in metropolitan areas for deposits (53.2%). The bank has a pan-India branch network of 4,556 units to mitigate regional economic shocks.

Third Party Dependencies

Dependency on co-lending partners (NBFCs/HFCs) for reaching underserved segments and on Bandhan AMC for mutual fund product offerings.

Technology Obsolescence Risk

The bank is mitigating this through investments in digital tools, a new SCF platform, and 'War Rooms' for SMA monitoring using technology.

Credit & Counterparty Risk

Gross NPA ratio was 3.18% in March 2025. Net NPA ratio improved to 0.48% in H1FY26. Solvency level (Net Stressed Assets/Core Equity) is a key monitorable, with a downgrade risk if it exceeds 30%.