Writing there are issues but not spelling them out creates uncertainties, says HDFC Bank CEO Jagdishan

The former chairman also said that the fruits of the merger (HDFC Ltd and HDFC Bank) are yet to be seen. What would you like to say about this quote?

There are some points in time when talking about the fruits of the merger. On the day of the merger, you just get the balance sheet and merge. Next, you must ensure that you have collected significant and sufficient deposits to replace all debts as they come due and finance the balance sheet. Since July 2023, the liquidity environment has never been as good as before. In fact, it was in a very narrow and negative zone for a long time, and as it started to come into the positive zone from April 2025, you started to see the problems arising from trade policies and the impact of the dollar-rupee movement. According to our glide path, we will be in line with the system that we followed from FY26 at least until December and then we believe that we should grow much faster than the system in FY27. We are not a short-term entity.