such challenges, Co has been focusing on new spend categories (education, online health & pharmacies) and utility spends (D&G;, fuel, electronic, wellness). Moreover, continued interest income and repayments from morat customers (24% at Apr-end) could act as cushions. We expect moderation in per card spends (0.5-1% vs ~6% pre-COVID era) and card additions (2% in H1FY21 vs avg 27% pre-COVID era) in H1FY21. While near term challenges stand imminent, sufficient capital, liquidity buffers and robust risk management would support balance sheet resilience. We have built-in...