On the asset quality front, slippages were elevated at ~INR69b (annualised 4.2% of loans), mainly due to a large corporate account, while higher recoveries and upgrades aided an improvement of 8bp/25bp QoQ in the GNPA/NNPA ratio. Further, SMA overdue declined to ~2% of loans (v/s ~3.0% in 1QFY22), while restructured portfolio remained stable QoQ at 2.9% of loans. Overall, we expect CBK's credit costs to moderate from FY23E...