Private sector banks have seen high slippages in their retail portfolio as per their fiscal first-quarter results, as loans restructured during the Covid period continued to slip into the bad loan category. Top banks including ICICI Bank, IndusInd and Yes Bank have reported higher slippages in retail books, contributed by micro loans, credit cards and vehicle loans, but said there was no cause of worry. While HDFC Bank hasn’t given any a breakup of the data on slippages, numbers from state-run banks that ET looked at did not show such trends. ICICI Bank reported slippages of Rs 5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with Rs 788 crore for corporate and SME loans. Though, on the positive side, the bank upgraded a large chunk of loans and said it wasn’t worried about the higher slippages, which were Rs 3,736 crore for retail loans in the March quarter. “We added about Rs 5,000 crore (of retail slippages) to it, and there was another Rs 4,000 crore of upgrade, which also happened at the same time,” ICICI Bank executive director Sandeep Batra said during a post-earnings call. “And this includes rural by the way, which was phenomenal as we had explained given the billing cycle, there is a little bit of an elevated level which is therein during this current quarter. But if you see from an overall angle, the amount that we are talking about is very small and we are holding adequate provisions against that. Worst come worst, we still have a contingency provision of Rs 8,000 crore. So, that doesn’t really worry us at all.” At IndusInd Bank, a bulk of the total slippages of Rs 2,250 crore came from the microfinance segment. Loans worth Rs 1,024 crore from the MFI segment were part of the bad loan category while commercial vehicle loans were another big contributor with bad loans of Rs 486 crore. “The gross flows from the standard book (to NPAs) have gone down, the addition (to bad loans) from the restructured book is because of the MFI segment, we have taken 100% provisions against that,” IndusInd Bank managing director Sumant Kathpalia said.