and operational automation also helped. The management expects a gradual normalisation in margin as return ratios improve over the medium term, aided by enhanced fee income generation and incremental contributions from subsidiaries. The strategic emphasis remains on capital-efficient growth, portfolio diversification, risk management discipline and the rebranding of retail securities as Kotak Neo, reflecting a focus on scalable innovation and seamless customer experience. While external challenges including geopolitical tensions and commodity volatility persist, the bank's...