on non-discretionary (88-90% of spends led by both retail & corporate) and digital spends (online retail spends rose to 56% in Q1FY21 from 44% in FY20) translated into healthy loans (Rs 233bn vs PLe of Rs 217bn growing 10%YoY/3%QoQ) and avg daily spends (up 77% to pre-COVID levels) defying lockdown challenges. While NPA (down 133bps YoY/33bps QoQ to 1.35%) and provisioning (42% down QoQ) for the quarter witnessed sharp decline, the same stands masked due to moratorium dispensation. Hence, we build-in...