our conservative stance on credit costs (12%) and NPA (~8%) for FY21 led by pandemic challenges. While we assess 10% of book net of provisions stands under stress as at Sep'20-end, provision run-rate to stay elevated for H2FY21 (avg. Rs8bn). Said that, Q2FY21 witnessed outstanding cards traction (~4% QoQ growth vs negative in Q1FY21) and improved spends (55% QoQ growth) buoyed by retail spends (90% pre-COIVD levels). Such a business rebound coupled with healthy PPoP (13%QoQ/27%YoY) should absorb asset quality...