As per the latest statistical supplement released by RBI (outstanding as on 8 Jun 2018), the overall credit growth in SCBs was seen at ~12% YoY to INR 85.9tn and deposits grew by 7% YoY to INR 114tn. Amongst our coverage universe, greater traction in overall AUM growth would continue to be seen in the retail focused banks, especially those with higher share of CV and SME credit in their portfolio. Banks were able to pass on the increase in cost of funds, due to rising interest rates, in the April and June reset dates to their customers, hence NIMs are largely expected to remain stable. Pressure will still be witnessed on PAT owing to higher provisioning (carry forward of loan losses and MTM losses...