The collection efficiency (CE) was in line with expectations at 109% for March 2022, similar as March 2021. The buoyancy in collections has led to significant sequential improvement in asset quality resulting in Stage 3 assets as of March 2022 being lower than as of March 2021. Similarly, Stage 2 assets have also seen meaningful improvement over 31st December 2021 level.

The Company will bring the Net Stage 3 below 4% as on 31st March 2022 as committed.

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 3 months.