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1

PDF processed with CutePDF evaluation edition www.CutePDF.com

ALLAHABAD BANK
Head Office : 2, N.S.Road, Kolkata-700 001
NOTICE
Notice is hereby given that the Twelfth Annual General Meeting of the shareholders of the Bank will be held on Thursday, the 26th
June, 2014 at 10.30 a.m. at Purbashree Auditorium, Eastern Zonal Cultural Centre, Bharatiyam Cultural Multiplex, IB-201,
Sector-III, Salt Lake City, Kolkata-700106, to transact the following business :To discuss, approve and adopt the Balance Sheet, Profit & Loss Account of the Bank as at and for the year ended
31st March, 2014, the Report of the Board of Directors on the working and activities of the Bank for the period
covered by the Accounts and the Auditors Report on the Balance Sheet and Accounts.
By order of the Board of Directors

Place : Kolkata
Date : 20.05.2014

(Rakesh Sethi)
Chairman and Managing Director

NOTES:
1.

APPOINTMENT OF PROXY
A Shareholder entitled to attend and vote at the meeting, is also entitled to appoint a proxy to attend and vote instead of
himself/ herself, and such a proxy need not be a Shareholder of the Bank. The proxy form in order to be effective must be
received by the Bank at its Share Department, Head Office, 2, Netaji Subhas Road, Kolkata-700001 not less than
FOUR DAYS before the date of the Meeting i.e. on or before the close of business hours of the Bank i.e. upto 2.00 p.m. on
Saturday, the 21st June, 2014. Please note that any employee or officer of Allahabad Bank cannot be appointed as proxy
as per provisions of Allahabad Bank (Shares & Meetings) Regulations, 1999.

2.

APPOINTMENT OF AN AUTHORISED REPRESENTATIVE

No person shall be entitled to attend or vote at the meeting as a duly authorized representative of any body corporate
which is a shareholder of the Bank, unless a copy of the resolution appointing him/her as a duly authorized representative,
certified to be a true copy by the Chairman of the meeting at which it was passed, has been deposited at the Head Office
of the Bank with Share Department, Allahabad Bank, 2, Netaji Subhas Road, Kolkata-700 001 not less than FOUR DAYS
before the date of the Meeting i.e. on or before the close of business hours of the Bank i.e. upto 2.00 p.m. on Saturday, the
21st June, 2014. Please note that an employee or officer of Allahabad Bank cannot be appointed as authorized representative as per provisions of Allahabad Bank (Shares & Meetings) Regulations, 1999.

3.

ATTENDANCE SLIP-CUM-ENTRY PASS

For the convenience of the shareholders, attendance slip-cum-entry pass is annexed to this Notice. Shareholders/Proxies/
Authorised Representatives are requested to fill in and affix their signatures at the space provided therein and surrender
the same at the venue.

4.

CLOSURE OF REGISTER OF SHAREHOLDERS

The Register of Shareholders and the Share Transfer Books of the Bank will remain closed from Saturday, the 14th June,
2014 to Thursday, the 26th June, 2014 (both days inclusive) in connection with the Twelfth Annual General Meeting.

5.

UNPAID/UNCLAIMED DIVIDEND
As per section 10B of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, any money which is
transferred to unpaid dividend account and remains unpaid/unclaimed for a period of seven years from the date of such
transfer shall be transferred to Investor Education and Protection Fund established under section 205C /125 of the
Companies Act, 1956/2013.
Accordingly, the unpaid dividends of the Bank will be transferred to Investor Education and Protection Fund after seven
years from the date on which it has been transferred to unpaid dividend account, after receipt of requisite Guidelines in this
regard from the Government of India, Ministry of Corporate Affairs.
Shareholders who have not received their dividend upto the financial year 2012-13 and Interim Dividend FY 2013-14 are
requested to lodge their valid claim(s) with Registrar and Share Transfer Agent M/s MCS Limited, Kolkata.

6. E {] B ix-{j E |i
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3

6.

COPIES OF ANNUAL REPORT/BALANCE SHEET

The copies of Annual Report will not be distributed at the venue of the Annual General Meeting and hence the
shareholders are requested to bring their copies of the Annual Report mailed/sent separately by the Bank to them at their
registered addresses/email id.

7.

SHAREHOLDERS QUERIES
It will be appreciated if shareholders submit their queries, if any, sufficiently in advance to facilitate effective response from
the Bank.

8.

COMMUNICATION WITH REGISTRAR AND SHARE TRANSFER AGENT

The Shareholders holding shares in physical form, are requested to approach the Registrar and Share Transfer Agent
(RTA) of the Bank, to intimate changes, if any, in their registered address, lodge transfer/transmission request (s) at the
following address:M/s MCS Limited
(Unit: Allahabad Bank)
77/2A, Hazra Road
Kolkata-700029
Tel : 033-40724051-54,
Fax: 033-24541961/40724050
E-mail: mcskol@rediffmail.com, allahabadbank.grievance@yahoo.co.in
The dividend related query/complaint by all the shareholders whether holding shares in physical or electronic (demat)
form should also be addressed to the RTA at their above mentioned address.
For on line query/grievance, shareholders of the Bank may login on the website of M/s MCS Limited i.e. www.mcsdel.com
and click on investor services to register their query/grievance, if any.
In order to facilitate quick and efficient service to the shareholders, Allahabad Bank has set up Investors Grievances Cell
at its Head Office, Kolkata. Shareholders and investors may contact this Cell at the under mentioned addresses for any
assistance:
The General Manager (F&A),CFO

The Senior Manager

and Compliance Officer

Share Deptt. & Investors Grievance Cell

Allahabad Bank, Head Office

Head Office

2, Netaji Subhas Road,

2, Netaji Subhas Road, Kolkata- 700 001

Kolkata- 700 001

Telephone No.033-22420878

Telephone No. -033-22104018

Fax No. 033- 22623279

Fax No.-033- 22104050

Email- investors.grievance@ allahabadbank.in

E-mail - gmfa@allahabadbank.in
9.

EXERCISE OF VOTING RIGHTS THROUGH E-VOTING

In terms of Clause 35B of the Listing Agreement with Stock Exchanges as amended vide SEBI circular No. CIR/CFD/
POLICY CELL/2/2014 dated 17.04.2014 read with Rule 18, 20 and 21 of Companies (Management and Administration)
Rules, 2014, shareholders entitled to attend and vote at the meeting can exercise their voting rights through electronic
voting.
E-Voting is optional. The E-Voting rights of the shareholders/beneficial owners shall be reckoned on the equity shares held
by them as on 23rd May 2014 (Cut-off date fixed for the purpose).
The Bank has appointed M/s National Securities Depository Limited (NSDL) as agency for providing the e-voting platform.

10. SCRUTINIZER FOR E-VOTING

The Bank has appointed Mr. S. N. Ananthasubramanian, Practicing Company Secretary or failing him Ms. Malati Kumar,
Practicing Company Secretary or failing her Ms. Aparna Gadgil, Practicing Company Secretary as the Scrutinizer for
conducting the E-Voting process in a fair and transparent manner.
11. PROCESS AND MANNER FOR E-VOTING
(i)

The voting rights of Shareholders shall be in proportion to their shares in the paid up equity share capital of the Bank
as on 23rd May 2014 (Cut-off Date fixed for the purpose).

(ii)

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(ii)

The voting period will commence at 10.00 a.m. on Friday, 20th June, 2014 and will end at 5.00 p.m. on Sunday
22nd June, 2014. The e-voting module shall also be disabled by NSDL at 5.00 p.m. on the same day.

(iii)

If you are already registered with NSDL for e-voting then you can use your existing user ID and password for casting
your vote.

(iv)

Initial password and User ID are being sent alongwith the Notice.

(v)

Launch internet browser by typing the following URL: https://www.evoting.nsdl.com/

(vi)

Click on Shareholder - Login.

(vii)

Insert user ID and password as initial password and click Login.

(viii)

Password change menu will appear. Change the password with new password of your choice with minimum 8 digits/
characters or combination thereof. Note/Remember new password.

(ix)

It is strongly recommended not to share your password with any other person and take utmost care to keep your
password confidential.

(x)

Home page of e-Voting opens. Click on e-Voting: Active Voting Cycles.

(xi)

Select EVEN of Allahabad Bank.

(xii)

Now you are ready for e-Voting as Cast Vote page opens.

(xiii)

Cast your vote by selecting appropriate option and click on Submit and also Confirm when prompted.

(xiv)

Upon confirmation, the message Vote cast successfully will be displayed.

(xv)

Once you have voted on the resolution, you will not be allowed to modify your vote.

(xvi)

Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to send scanned copy (PDF/JPG
Format) of the relevant Board Resolution/ Authority Letter etc. together with attested specimen signature of the duly
authorized signatory(ies) who are authorized to vote, to the Scrutinizer through e-mail at scrutinizer@snaco.net with
a copy marked to evoting@nsdl.co.in.

(xvii)

Shareholders holding multiple folios/demat account shall choose the voting process separately for each folios/demat
account. However, shareholder may please note that in terms of Section 3 (2E) of the Banking Companies
(Acquisition & Transfer of Undertakings) Act, 1970, no shareholder other than Government of India is allowed
to exercise voting rights in excess of 10% of the total shareholding of the Bank.

(xviii)

Kindly note that once you have cast your vote you cannot modify or vote on poll at the Annual General Meeting.
However, you can attend the meeting and participate in the discussions, if any.

(xix)

In case of any query, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user
manual for Shareholders available at the Downloads section of NSDL website www.evoting.nsdl.com.

(xx)

You can also update your mobile number and e-mail id in the user profile details of the folio which may be used for
sending future communication(s).

12. VOTING/POLLING AT THE VENUE OF THE AGM

After the agenda item has been discussed, the Chairman will order Poll in respect of the agenda item. Poll will be conducted and supervised by the Scrutinizers to be appointed for the purpose. The shareholders/Proxies/Authorised Representatives present at the venue of the general meeting can exercise their votes through polling process. However, the
shareholders who have already cast their votes through e-voting will not be entitled to participate in the polling process at
the venue of the meeting. After conclusion of the Poll, the Chairman may declare the meeting as closed.
The Results of the Poll aggregated with the results of e-voting will be announced by the Bank in its website and also
informed to the stock exchanges i.e. NSE & BSE.

By order of the Board of Directors

Place : Kolkata
Date : 20.05.2014

(Rakesh Sethi)
Chairman and Managing Director

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7

FORM FOR ECS MANDATE/BANK ACCOUNT PARTICULARS

(FOR SHAREHOLDERS HOLDING SHARES IN PHYSICAL FORM)

I/We---------------------------------------------------------------- do hereby authorize Allahabad Bank to credit my dividend amount directly

to my bank account by ECS.
My/Our Folio No. ALB..................................
No. of Shares...............................................
Particulars of Bank Account
A. Bank Name

B. Branch Name & Address (only CBS Branch)

:
:

C. 9 Digit MICR Code No. of the Bank Branch

Appearing on the MICR Cheque

D. IFSC Code

E. Account Type (Saving/Current)

F. Account No. as appearing in the Cheque Book

G. Telephone No. with STD Code/

Mobile No. of shareholder

I hereby declare that the particulars given above are correct and complete. If the transaction is delayed or not effected at all for
reasons of incomplete or incorrect information, I would not hold Allahabad Bank responsible.
Mail to

M/S MCS Limited

Unit: Allahabad Bank
77/2A, Hazra Road
Kolkata-700 029
Signature of the shareholder

Please attach a blank cancelled cheque issued by your bank relating to your above account for verifying the accuracy of the
code numbers.
In case you are holding shares in demat form, kindly send the ECS Mandate to the concerned Depository Participant
(DP) directly, in the format prescribed by the DP.

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9

ALLAHABAD BANK
HEAD OFFICE: 2, Netaji Subhas Road Kolkata- 700 001
ATTENDANCE SLIP
(To be surrendered at the time of Entry to the venue)
Day & Date: Thursday, the 26th June, 2014
Time : 10.30 a.m.
Place: KOLKATA
I hereby record my presence at the Twelfth Annual General Meeting of the shareholders of Allahabad
Bank:-

Signature of the Shareholder/ Proxy/Authorized Representative Present

Regd. Folio No. /DP ID & Client ID
Name of the Shareholder
Number of Shares held
Shareholder(s)/Proxy(ies)/authorized representative(s) of shareholder(s) are requested to produce the above
attendance slip, duly signed, (same as their specimen signatures registered in the register of shareholders/
Instrument appointing proxy/authorized representative), along with the entry pass, for admission to the
venue. The admission will, however, be subject to verifications, as may be deemed necessary. Under no
circumstances, any duplicate attendance slip will be issued at the entrance of the venue of the meeting.

ALLAHABAD BANK
Entry Pass
(To be retained throughout the meeting)
Signature of the Shareholder/ Proxy/Authorized Representative Present
Regd. Folio No./ DP ID & Client ID
Name of the Shareholder
Number of Shares held

Note : No gifts/gift coupons will be distributed at the meeting.

Please bring your copy of Annual Report.

10

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) H vE E V] |l xi vE n u Ji { vi |vEi =E /=E +]x u iIi
E VB*
) E xMi xE E =E +vE u +l Ji { vi |vEi +]x u iIi E VB*
2. V {I Ji { vE +M` xx, +Ei Ei i i v M V VV, V]] +x E V] +l ={
V] E +x E V{ji +vE <n E E +vE u i{i *
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) x] {E +l V]] u i{i Jix +l +x |vE E |i E x `E E iJ +vEi S nx
{ +li x, 21 Vx 2014 E E E {i +li +{x 2.00 V = { <n E, M, |vx
E V E Vx SB*
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10. E< {I Ji i iE v x M V iE - { x *
11

ALLAHABAD BANK
H.O: 2, Netaji Subhas Road, Kolkata-700 001
Form B
Form for Proxy
( To be filled in and signed by the shareholder member)

Regd. Folio No./DPID & Client ID ................................................................................................

I/We ............................................................................resident/s of........................................................................................ in the

district of ..........................................................................................in the state of...........................................................................
.................................... being a share holder/s of Allahabad Bank, hereby appoint Shri/Smt.....................................................
............................................................ resident of.............................................................................................................. in the
district of ................................................................................................................................................. or failing him/her.
Shri/Smt ....................................................................................resident of...........................................................................in the
district of ...........................................................in the state of............................................................................................... as my
/our proxy to vote for me/us and on my/our behalf at the Annual General Meeting of the Shareholders of the Allahabad Bank to
be held on 26.06.2014 at 10.30 a.m. at Eastern Zonal Cultural Center, Bharatiyam Cultural Multiplex, IB-201, Sector-III,
Salt Lake City, Kolkata-700106, and at any adjournment thereof.
Signed this.............................................................. day of .......................................... 2014
Please affix
One Rupee
Revenue
Stamp

....
Signature of the Proxy

Signature of the First/Sole Holder

Name ........................................
Address ......................................
......................................
......................................
Instructions for signing and lodging the Proxy form
1. The instrument of proxy to be valid
(a) in case of an individual shareholder, shall be signed by him/her or by his/her attorney duly authorized in writing.
(b) in case a joint holder, shall be signed by the shareholder first name in the Register of Members or by his/her attorney duly authorized
in writing.
(c) in case of body corporate, shall be signed by its officer and executed under its common seal, if any or otherwise signed by its attorney
duly authorized in writing.
2. An instrument of proxy in which the thumb impression of the shareholder is affixed, will be valid provided it is attested by a Judge,
Magistrate,Registrar or Sub-Registrar of Assurances or any other Government Gazetted Officer or an Officer of Allahabad Bank.
3. The Proxy together with
(a) the power of attorney or other authority ( if any) under which it is signed or
(b) a copy of that power of Attorney or Authority, certified by a Notary Public or a Magistrate, should be deposited at the Share Department,
Head Office of Allahabad Bank, not later than FOUR Days before the date of Annual General Meeting, i.e. on or before the close of
business hours i.e. upto 2.00 p.m. on Saturday, the 21st June, 2014.
4. In case of relevant power of attorney is already registered with Allahabad Bank or its Registrar and Share Transfer Agent , the registration
number of power of attorney and date of such registration may be mentioned.
5. No proxy shall be valid unless it is duly stamped.
6. An instrument of proxy deposited with the Bank shall be irrevocable and final.
7. In case of an instrument of proxy granted in favour of two grantees in the alternative, not more than one form shall be executed.
8. The shareholder who has executed an instrument of proxy shall not be entitled to vote in person at the Annual General Meeting to which
such instrument relates.
9. No person shall be appointed as duly authorized representative or a proxy who is an officer or an employee of Allahabad Bank.
10. No instrument of proxy shall be valid unless it is in Form B.

12

<n E

ALLAHABAD BANK

|vx E : 2, xiV b, EEi-700 001

HEAD OFFICE: 2, NETAJI SUBHAS ROAD, KOLKATA 700 001

www.allahabadbank.in

E |inx
ANNUAL REPORT
2013-14

-S
z

/ contents

{` . / Page No.

rl=uNfUt, tuFtvheGfUtuk ytr= fUe mqae/

List of Directors', Auditors' etc.

02

+vI B |v xnE E H/
Chairman & Managing Director's Statement

03-08

E E xnE E {]/
Directors Report of the Bank

09-25

- III |E]Eh/
Basel - III Disclosures

26-78

fUthvtuhux dJluom { {]/

Report on Corporate Governance

79-106

fUthvtuhux dJluom { J{IE fUt btKvt/

Auditors Certificate on Corporate Governance

107

mqaec;t fUhth fuU Fkz 49V fuU +xh b |h{j/

Certificate Pursuant to clause 49V of the Listing Agreement

E E k h/
Financial Statements of the Bank

110-156

E E J{IE E {] /
Auditors Report of the Bank

157-159

Ei k h/
Consolidated Financial Statements

160-171

Ei k h { J{IE E {]/
Auditors Report on Consolidated Financial Statements

195-199

+E <xx . E rJteg rJJhK/

Financial Statements of AllBank Finance Ltd.

200-221

+E <xx . E J{IE E {] /
Auditors' Report of AllBank Finance Ltd.

172-194

+E <xx . E xnE E {]/

Directors' Report of AllBank Finance Ltd.

108-109

222-226

<B b] i
Form for ECS mandate

227-228

<n E
ALLAHABAD BANK

|vx E : 2, xiV b, EEi-700 001

HEAD OFFICE: 2, NETAJI SUBHAS ROAD, KOLKATA 700 001

xnE b/BOARD OF DIRECTORS (lli/AS ON 31.03.2014)

1. E `

+vI B |v xnE

Shri Rakesh Sethi

Chairman and Managing Director

2. ]. +. S

E{E xnE

Shri T. R. Chawla

Executive Director

3. V.E. J

E{E xnE
Executive Director

Shri J. K. Singh Kharb

4. b. E Ex

E u xi xnE

Dr. Shashank Saksena

Government Nominee Director

5. B. =nMi

..E u xi xnE

Shri A. Udgata

RBI Nominee Director

6. V E

xn JE xi xnE

Shri Sanjeev Kumar Sharma

Chartered Accountant Nominee Director

7. b. Bx.

+EE M-E xnE

Shri D. N. Singh

Part Time Non Official Director

8. +V C

+EE M-E xnE

Shri Ajay Shukla

Part Time Non Official Director

9. x E

+vE ES xnE

Shri Nirmal Kumar Bari

Officers Employee Director

10. <. {.

EM ES xnE

Shri Y. P. Singh

Workmen Employee Director

11. b. n{ Sv

vE xnE

Dr. Sudip Chaudhuri

Shareholders Director

12. +E V

vE xnE

Shri Ashok Vij

Shareholders Director

13. B. {. . Bx.

vE xnE

Shri A. P. V. N. Sarma

Shareholders Director

J-{IE/AUDITORS
1. 0 Bx.E. M Bb E.

xn JE

M/s N. K. Bhargava & Co.

Chartered Accountants

2. 0 P xl Bb E{x

xn JE

M/s Raghu Nath Rai & Co.

Chartered Accountants

3. 0 Jb EEx Bb E

xn JE
Chartered Accountants

M/s Khandelwal Kakani & Co

4. 0 ] Bb {i

xn JE
Chartered Accountants

M/s Batliboi & Purohit

5. 0 l Bb BB]

xn JE
Chartered Accountants

M/s Sarath & Associates

V] B +ih BV]/REGISTRAR & SHARE TRANSFER AGENT

0 BB ]b (x]:-<n E )

M/s MCS LTD. (Unit:- Allahabad Bank)

77/2A, Hazra Road,
Kolkata-700 029
Tel : 033-40724051-54
Fax : 033-24541961/40724050
Email : mcskol@rediffmail.com
Website : www.mcsdel.com

77/2B,

V b
EEi-700 029
]x - 033-40724051-54,
C - 033-24541961/40724050
<- : mcskol@rediffmail.com
Website : www.mcsdel.com

+vI B |v xnE
E H

CHAIRMAN & MANAGING

| vE
Z +{x xi vE E |i EiYi Y{i
Ei B +ii |zi E +{
xi lx ni + * +{ |{i lx
+ OE E ii Ih E {h Vx
E E E Ex + E |iE Ij
=iE]i Ex i |i E *

Dear Shareholders,

DIRECTORS STATEMENT

It gives us immense pleasure to express a deep

sense of gratitude to our esteemed
Shareholders, for the unstinted support that you
have been extending to us over the years. It is
this support that we receive from you and the
continued patronage of our customers that
inspires us to grow the Bank and to seek
excellence in all facets of business.

1.+lE B EM {o

1.

E +lE r {U E 3% E {I k 13-14
3.5% x E x * r +vEi: =zi +ll+
E, B < r li Vx {< E +SU Ei
nB * il{, E + =i V +ll+
Mi +x EB MB iE n, .B. E i {hiE
r E Eh Ij SxiVxE +{i E +lE r
E B Mi VJ |ii Ei *
i +ll {U EU Sxi{h E M
* k 13-14 E x n l nPEE =SS
pi + n r VE Eh Vn P] { + n {c*
+ll M] x E, P]i ={M + +{ V
+Vx nJ M<* Vb{ xx r, +tME =i{n
M], =SS S Ji P] + b E ix {B E
Oi * E E +i Mhk Sxi E *

Global economic growth is expected to be around 3.5% in

Financial Year (FY)13-14 as against 3% in the previous year.
This growth is largely supported by growth in the advanced
economies especially the U.S. which has exhibited good
signs of recovery. However, the continued inflationary
pressures experienced by developing & emerging market
economies, the worrisome deflation in Euro area supported
by the tapering of quantitative easing in U.S. continue to pose
a risk to global economic growth.

Economic & Banking Overview

The Indian economy has witnessed challenging times in the

last few years. FY13-14 brought forth the twin problem of
prolonged high inflation and deceleration in growth leading
to a further strain on the extant deficits. The downswing in the
economy was also visible in falling investments, reduced
consumption, and scanty revenue generation. The year was
marked by low GDP growth, declining industrial output, high
current account deficit and depreciation in the value of the
rupee vis--vis the dollar. The asset quality of the banks has
been a matter of concern.

V + Jt i+ =SS pi x E +vE
E nx lE SEE(b{+<) pi E =SS xB
J* Ei, gi pi { +E Mx E B E u
EB MB ii ={ V { ] r +xE {h xE*
b{+< pi 14 P]E 4.67 |ii M<,
Ei V E Ei r E Eh S 14 {x: gE
5.70 |ii iE {S M<* {< pi {U k E
10.4 |ii { P]E S 14 8.3 |ii
M<*
Mi n , k 13-14 i E +tME =i{n
0.1% E M] n E +lE Miv M] E ni
Vx k 12-13 1.1% E r n< l* pi E
=SS i + +ivE E x E {h{ xxi OE
M E Eh xh + Jxx Ij +xi J Ij
Ex{nx n l*
k 13-14 E Ij E l Ij x +ll E O
r E n* E nx +SU xx x E Ij E nn
E* E Ij {U E 1.4% E {I k 13-14
4.5% r x E x * Jtz =i{nx Eb i iE
{Sx E x *

High inflation in vegetable & food articles kept the level of WPI
inflation up during major part of the year. But sustained efforts
by RBI to keep a check on the rising inflation numbers through
hike in repo rates yielded favourable results. WPI inflation
reduced to 4.67 per cent in Feb14 but it rose again to a level
of 5.70 per cent in Mar14 due to an escalation in vegetable
prices. CPI inflation moderated to 8.3 per cent in Mar14 from
10.4 per cent in the previous financial year.
For the second successive year, Indias Industrial output in
FY13-14 fell by 0.1% indicating a fall in the countrys economic
activity which in FY 12-13 had exhibited a growth of 1.1%. The
core sectors muted performance was due to degrowth in
manufacturing and mining sectors due to lower consumer
demand as a consequence of high inflationary levels and
very low investment level.
Services sector together with the agriculture sector has driven
the overall growth of the economy in FY13-14. Good
monsoons supported the agricultural sector during the year.
Agriculture sector is likely to grow by 4.5% in FY13-14 as
against 1.4% in the earlier year. Food grain production is
also expected to touch record levels.

ESi n P] +li VE + S Ji P] E
Eh i ix n p b E i E Jn li *

India currently enjoys a comfortable level of forex reserves

with shrinking twin deficits viz. fiscal as well as current account

t{, E P]xG x =i V +ll+ E

|i E il{, +x =i V +ll+ E ix
V +x E M< +li E i x EM fM xjh
J *
V iE EM Ij E v , k 13-14 @h =`
(Gb] +]E) =iVxE x * E, , E +
HE @h i EU Ij @h r nJ M<* E nx
@h r ={v 14% * k 13-14 E nx E E
V r {U E 12.7% g E 14.3% M< V
Ji: E u { b Jx E Eh < B b 32
x BBx+ () V E Eh +*
2. E E Ex{nx E ]iB
2.1.
9 E E E 31S 2013 E lli E `3,09,678
Ec E {I -n- +v { 7.13% E r nV
Ei B gE 31S 2014 E lli `3,31,748
Ec M*
9 E E E V 31 S 2013 E lli
`1,78,742 Ec gE 31S 2014 E lli
`1,90,843 Ec M< V 6.77% E r ni
VE < +v E nx E @h `1,30,936 Ec
gE `1,40,905 Ec M* -n- +v {
+O 7.61% E r <*
9 |i J 31.03.2013 E lli `114.02
Ec gE 31.03.2014 E lli `116.81 Ec
M *
9 E V 31.03.2014 E lli gE .59,824
Ec M< + E +x{i 31.53% *
9 @h V +x{i 74.26%

deficit. Though global developments have impacted all the

emerging market economies, the volatility that markets
experienced in India has been effectively controlled as
compared to other Emerging Market Economies.
As far as the banking sector is concerned, the credit off-take
in FY13-14 was not encouraging though credit to a few sectors
including services, agriculture and personal loans exhibited
growth. Credit growth of 14% was achieved during the year.
The growth in deposits in FY13-14 also has been around
14.3% as against a growth of 12.7% in the previous year,
largely fuelled by inflows of US$ 32 billion of FCNR (B)
deposits due to opening of the swap window by RBI
2.

Highlights of the performance of the Bank

2.1 Business

2.2. + |ni +x{i

9 +{E E x k 13-14 E nx {Sx
18.76% E r E V k 12-13 E `3385
Ec E {I g E `4020 Ec M*
9 k 13-14 i E E x {
1% P]E k 12-13 E `1185 Ec E
{I `1172 Ec * M V + k 13-14
E nx 46.64% E r E l k 12-13 E
nx `1477 Ec gE `2166 Ec M<*
E +vi + 18.17% E r <*
9 31.03.2014 E lli +i { |i 0.57%
*
9 |i ES `4.77 J *
9 |i k 12-13 E nx `209.93
E {I k 13-14 `201.04 * |i
+Vx (<{B) `22.89 *
2.3. Mi, + + Vx
9 E E V Mi S 13 E 7.51% P]E S 14
7.24% M< CE, E x lE + =SS Mi
V E E Ex E xh l*

The total business of the Bank increased to

` 3,31,748 crore as on 31st March,2014 from the level
of `3,09,678 crore as on 31st March, registering a
YoY growth of 7.13%

The Banks Total Deposits went up from `1, 78,742

crore as on 31st March 2013 to `1,90,843 crore as on
31st March 2014 reflecting a growth of 6.77% while
Gross credit increased from `1,30,936 crore to
`1,40,905 crore during the same period. On a YoY
basis, advances grew by 7.61%.

Business per branch stood at `116.81 crore as on

31.03.2014, up from `114.02 crore as on 31.03.2013.

CASA deposits rose to Rs. 59,824 crore as of 31st

March 2014 with the CASA ratio standing at 31.53%.

The credit to deposit ratio stood at 74.26%

2.2 Profits & Profitability Ratios

9

Your Bank posted an Operating Profit growth of

18.76% during FY 13-14 increasing to `4,020 crore
from `3385 crore during FY 12-13.

Net Profit of the Bank for FY 13-14 reduced marginally

by 1% from `1,185 crore during FY 12-13 to `1,172
crore. The Non-Interest Income during FY13-14
registered a growth of 46.64% by increasing to
` 2,166 crore from `1477 crore during the year
FY12-13. Fee based income increased by 18.17%.

Return on Assets stood at 0.57% as on 31.03.2014.

Profit per Employee stood at `4.77 lacs.

The book value per Share of the Bank for FY13-14

stood at `201.04 against `209.93 in FY 12-13. The
earning per share was (EPS) `22.89.

2.3 Cost, Yield & Margin

9

The cost of deposits dropped from 7.51% in Mar13

to 7.24% in Mar14 as the Bank had decided to reduce
focus on bulk and high cost deposits.

k 13-14 E nx +O { |i k
12-13 E 11.43% 60 {B P]E +li 10.83%
M* E E x V Vx (x) {U E
2.81% P]E k 13-14 2.75% M*
2.4 +x{V +i
9 E + P S { E`x +lE {li E
Eh E nx +i Mhk xB Jx i
E E B BE nE E * 31.03.2014 E lli
E E @h E E E +x{V +i 5.73%
+ x +x{V +i 4.15% * E E |vx
EV +x{i 46.03% *

9 Yield on advances decreased by 60 bps i.e 10.83%

during FY13-14 from 11.43% in FY12-13. The Net
Interest Mergin (NIM) of the Bank declined to 2.75%
in FY13-14 from 2.81% in the previous year

2.4 Non-Performing Assets

9 Due to the difficult economic conditions prevailing
on the global as well as the domestic sceneario, it
was a daunting task for the Bank to maintain asset
quality during the year. The gross non-performing
assets of the Bank stood at 5.73 % of the gross bank
credit & the net non-performing assets stood at
4.15% as on 31.03.2014. The Banks provision
coverage ratio stood at 46.03%.

2.5 x]E B b Sx
9 E x k 13-14 E nx 124 JB J
V J+ E E J 2840 M<*
9 E nx E x 454 B]B Vc V B]B E
E J 901 M< + E x +{x OE E 27.97
J +vE B]B--b] Eb V EB*
9 n |J Exp { E b{V] EE, SE
b{V] EE, <]x] EM EE + { E
|]M EE E v E l 25 <- l{i E
M< , <E +iH, Sxn J+ 9 E b{V]
EE l{i EB MB *
9 ] Eb i < EB MB {+B +=]] E E
J gE 316 M< *
2.6 {V {{ii +x{i
9 31S, 2014 E lli -*** E +x {V
{{ii +x{i (+B+) 9.96% *
2.7 |tME

2.5 Network & Delivery Channels

9 The Bank opened 124 branches during FY13-14
taking the total number of branches to 2840.
9 The Bank added 454 ATMs during the year taking the
total number of ATMs to 901 and issued more than
27.97 lac ATM cum Debit Cards to its customers.
9 25 e lobbies, consisting of Cash Deposit Kiosk,
Cheque Deposit Kiosk, Internet Banking Kiosk &
Passbook Printing Kiosk have been established at
vantage points across the country; Apart from this, 9
Cash Deposit Kiosk have been set up in select
branches.
9 Total number of POS outlets that were made live for
Master Card increased to 316.
2.6 Capital Adequacy Ratio
9 Capital Adequacy Ratio (CRAR) as per Basel III,
stood at 9.96% as on 31st March, 2014.
2.7 Technology
9 On the occasion of the 149 th Foundation Day on
24.04.2013, the Bank launched a new product the
RuPay Debit Card and also a revamped website
along with Customers Grievance and Redressal
Portal for improvement in customer service.

24.04.2013 E +{x 149 l{x n E + {

E x BE x =i{n { b] Eb V E + OE
v i OE Ei + xh {] i
E E <] E xB E { E *
2.8 x vx E
+{E E E BE l x vx hxi V c
{x { x xi V ix Sxi E
x Ex E B +{Ii E B +x {z EE
E ={vi xSi EM* EM Ij +x
E E =i{nEi gx i Ei + |Ii Ex
E E E ii | E +SU {h il E
x =i{nEi + +vE r Ex i <x | E
iV Ex E Vx x< *
E n x E x E 3588 ES E i E V
1508 +vE, 1862 {E + 218 +vxl ]
E i * <E {h{, 31.03.2014 E
lli VxH E +i + P] E 41 M<
9

2.8 Human Resource Development

Your Bank has put in place a stable human resources
policy that would ensure availability of personnel wellequipped with the required skill sets and exposure,
to overcome the current challenges arising from
large scale of retirements. The Banks on-going
efforts to train and nurture the young work force
entering the banking arena in order to increase
productivity are yielding good results and the Bank
plans to accelerate these efforts for enhancing
productivity further.
The Bank has recruited 3,588 employees during the
year comprising of 1508 officers, 1862 clerks and
218 sub staff. This has resulted in a reduction in the
average age of workforce to 41 years, as on
31.03.2014, which is the lowest among the public

 V i VxE Ij E E E v E *
31.03.2014 E lli E E |i ES
`13.50 J l*
2.9 k x
9 E x 31.03.2014 E b u +xni k
x Vx E +iMi 5110 O E E E
VE +iMi Vn 121 n-n JB, 4
]<] JB J M< + 4981 O E
b +vi +<] E v E E
M *
9 2000 E VxJ i E E +]i
15196 O k x i ix Exx
(2013-16) Vx E x i E + {E
k x i Exi E V *
9 412 +i P JB (B) J M< +
{Bx ExC]] E ={M Ei B E
n E E B |nx E Vi *

sector banks in India. The business per employee

for the Bank stood at `13.50 lacs as on 31.03.2014.
2.9 Financial Inclusion

2.10 E{] VE ni
B+ E +iMi Ji: Oh VxJ i { E
M< * E x k 13-14E n x z M`x B
Miv E z Ij xxx k i
|nx E :
9 i Vx + ]], +nn E E
Uj E i + xEh i Mnx;
9 xSx x] + ]CxV Bb xV],
=c <]O]b x] + BC, ]xM-E|bCx - B{ Bb ]C]< E l{x;

Bank has achieved coverage of 5110 villages

on 31.03.2014 under its Board approved
financial inclusion Plan through 121 brick &
mortar branches and 4 Satellite branches with
4981 villages being covered through ICT based
BC Model.

Three year plan for FI Implementation (20132016) for the 15196 villages with population
below 2000 allotted to our Bank has been
prepared and is being implemented in an effort
to achieve universal Financial Inclusion.

Ultra Small Branches (USB), (412 in number),

have been opened and banking services are
offered on all working days through VPN
connectivity.

2.10 Corporate Social Responsibility

The initiatives under CSR were mainly directed at
the rural populace. The Bank has extended financial
support to various organizations and activities during
F.Y.13-14 in varied sectors as mentioned below:
9

Contribution was made towards repairing /

renovation of Girls Hostel of Sabarmati Harijan
Ashram Trust, Ahmedabad;

An Integrated Centre of Excellence and a

Training cum Production Lab Apparel & Textile
were set up at Centurion University of
Technology & Management, Odisha;

+M {S i n Ex+ E =xE I v
JS E { Ex i { E v i
|nx E M< ;
EEi E VMEi EG E |Vx*

Support was extended through granting of

fellowship to two girls to cover their education
expenses for the next five years;

A Cancer Awareness Programme was

sponsored in Kolkata.

V M{i E ] Bb S <]]],EEi
E SS E E b i b] E Jn i
Mnx*

Contribution was made to Saroj Gupta Centre

& Research Institute, Kolkata for the purchase
of a defibrillator machine for the Childrens
Cancer Ward;

{k E E ] { B Vin
+ E < x |nx Ex*

Water purifiers were provided to schools &

sewing machines were provided to needy
women in the North East

2.11 +xM E{x

+E <xx . <n E E {h i
+xM E{x V h-* S] E E {
{VEi , <x k 13-14 `3.70 Ec E
E {Si ({B]) nV E *
3. x< {
9 ] @h {] iV x i + E
B{ <x E xE x =i{n E M *

2.11Subsidiaries
AllBank Finance Ltd., a fully owned subsidiary of the
Bank registered with SEBI as Category-I Merchant
Banker, earned a profit after tax (PAT) of `3.70 crore
in FY13-14.
3.

New Initiatives
9 A new product - All Bank Home Appliance Finance
Scheme has been launched to boost Retail Credit
portfolio.

9 To increase the comfort level of customers, the Bank

has recently introduced the facility of Pre-Approved
Housing Loan limit( All Bank Pre Approved Limit
APPL) based on the income criteria of the prospective
Housing loan applicants to enable them to finalize
their house/ flat.

OE E v i E gx E B E x
i M @h =vEi+ E =xE Ex/}] E
+i { nx i i =xE + xnb { +vi
{ +xni M @h (+ E | B|b ]B{{B) E v E *
k 13-14 E nx |lE Ij @h E +iMi E x
xxJi VxB E :
9 {E |vx B ={v Ex i =M E{x
E l ]<-+{ l E +iMi = n {
+O nx E Vx*
9

9
9

The Bank has launched the following schemes during

FY13 -14 under Priority Sector Credit:

Eb ]V x] E k{h E Vx*
= n E n =i{n @h |nx Ex E =q
E x ] BO =M Bb E]
xV] . E l Zi Y{x { iI E *
4.

4. o]Eh
E x k 14-15 `2,15,000 Ec E V +
`1,65,000 Ec E +O E l `3,80,000 Ec E
i E |{i Ex E Vx x< *
9 E n OE E v E B 225 J+
<- il +vE OE J+ 91 E b{V]
EE Mx E |G *
9

Scheme for Advance against Warehouse Receipts

under tie up arrangement with warehousing
companies for providing collateral management
services;

Scheme for Financing to Cold storage units

In order to extend Produce Loan against warehouse

receipts, Bank has signed an MOU with M/s Star
Agriware Housing and Collateral Management Ltd.

Future Outlook

The Bank plans to achieve a business level of `3,80,000

crore in FY14-15 with a business mix of `2,15,000 crore of
deposits and `1,65,000 crore of advances.

S |Mi E {l { E J { ] @h {
vx Epi EM* E E |lEi @h {]
E ii x]M V Bx{B E i E
xji V E* +{E E E =q OE E v
xSi Ex i E{E b Sx E + +vE
vx Ex * OE +v E gx + OE +n
Ex E =q =i{n E {J xx, E
=i{n + + E |h Sx M*

5. {E B ={v

5.

The Bank is in the process of introducing E-lobby at

225 branches across the country and 91cash
deposit kiosks at branches having a significant
number of footfalls, for the convenience of the
customers.

As we stride forward in the current year, the Banks

focus would be mainly on retail business. The Banks
priority would also include continuous monitoring of
credit portfolio so as to contain the level of NPAs.
Your Bank aims to further promote the use of alternate
delivery channels to ensure customers convenience.
Innovation in product design aimed at enhancing
customer base and achieving customer delight shall
be the hallmark of Banks products and services
offering.

Awards & Achievements

E E k 11-12 i E V xi E
Exx E Ij =iE] Ex{nx E B V
M, M j, i E u 14.09.2013 E
|i` i <n Mv V {E |nx E M*

The Bank has been awarded the prestigious Indira

Gandhi Rajbhasha Puraskar for the financial year
11-12 by the Department of Official Language,
Ministry of Home Affairs, Government of India on
14.09.2013 for outstanding performance in
implementing the Official Language Policy in the
Bank.

E E Oh V M |Ih lx (+]), J{
J E O Ex{nx E +v { Oh E
j,i E u 21.11.2013 E n E k
Ex{nE lx E { Sx M *

The Banks Rural Self Employment Training Institute

(RSETI) at Lakhimpur Kheri has been selected as
the Top Performing Institute in the country, based on
overall performance, by the Ministry of Rural
Development, Government of India on 21.11.2013.

E E k x h =iE] Ex{nx i x
<bx BC| O{ u < Ij E E =iE] E
E xi Ex i n b ]bb ] E +b2013 {Ei E M*

The Bank has been awarded The Sunday Standard

Best Bankers Award -2013 for outstanding
performance in Financial Inclusion category by the
New Indian Express Group in recognition of the
outstanding work of the Bank in this area.

iEi E <n E E xn Ex{nx E

xi nx i <]]] + {E <]|<VV nn
u <E h Vi E nx E E V
BC +b 2013-14 |nx E M*

6. +
b E xnE E |i =xE u nB MB Mnx i
+ |E] Ex SM* E E b, i V E + i
E =iE] lx + Mnx |{i i *
OE + vE x { ii E J
Vx +{x k Ex{nx Ex i |i E *
|ir ] n E +lE | E x ={v x
{i* E E + + HMi { ivE E
vxn Y{i Ei + =x ii Ih,Mnx +
i E + Ei *
7. xE
+lE n E Sxi E +{E E x i{E x E
+ Z E +x nx E B Ex{nx V
JM + +{E +{I+ { J =iM* E +{x +ii E
M 150 | E M + < nx +{x B
Ex{nx E =SSi xE l{i Ei B og ogi
i M * V Vi xn { l Jc , <E V
+ixi ogi + <ix <x V E E
+x <E B E +SU i M * Z
E =iE]i + r Ex i i {
] n u EB MB +xi | E E i {
VBM + { + +vE og E E { =M*
+{E ii lx + Ih E +{I Ei + +{E
+i Ei E +xi | V M* +<B,
E =SSi Ex{nx Ex + E E x< >S< {
l{i Ex E |h *
vxn
+{E

17 <, 2014

6.

In recognition of spectacular performance in vigilance

functions, the Bank has been awarded Vigilance
Excellence Award 2013 14 by the Institute of Public
Enterprises, Hyderabad during its Golden Jubilee
Celebration.

Acknowledgement

I wish to place on record, the valuable contribution made by

the Directors of the Board. The Bank has been receiving
excellent support and guidance from the Board, the Reserve
Bank of India and the Government of India. Our customers
and shareholders have reposed their implicit faith in us which
inspires us to give off our best. But for the tireless efforts of
our committed staff members, these accomplishments would
not have been possible. On behalf of the Bank and on my
personal behalf, I would like to thank all the stakeholders of
the Bank and look forward to their continued patronage,
guidance and support.
7.

Conclusion

Your Bank has successfully met the challenges thrown up by

the economic downturn and I am sure that in the days to
follow, the Bank will continue to perform and match your
expectations. The Bank has entered the glorious 150th year
of its existence, having grown from strength to strength and
setting higher performance benchmarks for itself along the
way. The sound foundation on which the Institution has been
built, the intrinsic strength that it possesses and the stature
that it has acquired over the years will stand it in good stead
in times to come. The relentless efforts of staff members at
all levels in achieving excellence and business growth, will
Im sure catapult the Bank into the top league and emerge
stronger than before. I look forward to your continued support
and patronage and assure you of our unstinted efforts.
Together lets commit ourselves to achieving higher
performance and taking the Bank into the next orbit.

Thank you
Yours sincerely,

(E ` )
+vI B |v xnE

(Rakesh Sethi)
th

17 May 2014

Chairman & Managing Director

<n E

ALLAHABAD BANK

xnE E {]
+| 2013 S 2014

DIRECTORS REPORT
APRIL 2013 TO MARCH 2014

xnE b E 31 S 2014 E {i i E E J{Ii

J h i xnE E {] |ii Ei B |zi
*

The Board of Directors has pleasure in presenting the Directors

Report along with the audited Statement of Accounts of the
Bank for the year ended 31st March 2014.

|vx SS B h

MANAGEMENT DISCUSSION AND ANALYSIS

1. k 13-14 +lE {o + k 14-15 i xB

1. ECONOMIC SCENE IN FY13-14 AND OUTLOOK FOR FY14-15

1.1

i +ll

1.1 INDIAN ECONOMY

B+ u V =zi |CEx S 2014 E +i i

+ll 4.9 |ii E r x E x * < n
r Ex E =q {U i 5 |ii +vE r
+ E Vx SB* |J =tM E n Ex{nx +
+<+<{ +Eb ESx E xh Miv ESx
E Eh +tME Miv l r nJ V * E
E Ij og Ex{nx + xh Ij iV k
13-14 i |CEi MM 4.9 |ii E Vb{ r xSi
E V Ei *

The advanced estimates released by CSO expect the Indian

economy to register a growth of 4.9 per cent for the fiscal year
ended March 2014. In order to grow at this rate, the last quarter
must achieve a growth towards the higher side of 5 per cent.
Industrial activities have been witnessing stagnant growth on
account of a muted performance in core industries and
contraction in IIP data, especially contraction in manufacturing
activities. Only a very strong performance by agriculture and
a pick up on the manufacturing side, may ensure GDP growth
to reach the estimated 4.9 per cent, for FY13-14.

k 13-14 E n + i i G: 4.8
|ii + 4.7 |ii E { P]i r E Ei
* B +E { E i { v < {li +
E =i{n r E Eh + l* i =x n BE l
V +{x E E] = { + k 13-14 E nx
+< E] E Pc E { E {* S { i E S
Ji P] k 13-14 E i i v]E Vb{ E
0.9 |ii V S E Ji: { P]
E E Eh +* < E E n E n {E
E xi r + +i, E h E +i, E
+vxEEh E n V Ei CE E x n vi
E Jn { E r E l* xxi Bb + n p
b E x E { +vM n + {B E +li
E <*
k 13-14 E +vE {+< + b{+<
+vi pi +r * >S Jt Ei E Eh {+<
+vi pi x 2013 11.24 |ii E + iE E
>S i { {S M<* n pi E Ex i
i V E u EB MB z ={ + nx E
l Jt Ei E E Eh n P] E 8 |ii iE
+ M<* b{+< +vi pi k 13-14 E
+vE 7 |ii { ]E x E n 2014
E E 4.68 |ii M<*
B< E E E {] E +x k 14-15 E +
gi B =tM + Ij E =zi Ex{nx E {`
S k i E E P =i{n r 5.5 |ii E

There have been signs of growth bottoming out with marginal

improvement in Q2 and Q3 of FY13-14 to 4.8 per cent and 4.7
per cent respectively. This was partly due to improved
conditions on the global front as well as an uptick in the
agriculture production. On the external front, Indias current
account deficit narrowed to a four-year low of 0.9 per cent of
GDP in Q3 of FY13-14, primarily on account of a decline in
trade deficit. The reason for the decline may be attributed to
rise in merchandise exports, after prolonged slowdown and
moderation in imports, particularly gold imports, as the
government raised taxes on purchases of the metal overseas.
With a lower CAD and build-up of foreign reserves, the
downward pressure on the currency and the volatility in the
rupee has subsided.
Both CPI and WPI-based inflations remained sticky for most
part of FY13-14. CPI-based inflation had touched an all-time
high of 11.24 per cent in November 2013 on account of high
food prices. It then, gradually eased to a level of 8 per cent
due to various measures undertaken by the RBI to arrest
inflation and also correction along with seasonal moderation
of food prices. WPI-based inflation too eased to 4.68 per cent
in February 2014 after remaining sticky at 7 per cent for most
part of FY13-14.
Going forward into FY 14-15, as per the report of Asian
Development Bank, Indias GDP is poised to accelerate to 5.5
per cent on the back of improved performance in industry and

+{ M* =zi +ll+ v M E nn
M + =tM il x E vi Ex EU SxiE
v+ E n Ex i E u E< EB Vx E x
* <E +iH {+< +vi pi v-v +
Vi < r E lx i pE xi + +vE x
={v EBM* .B. Vx 2014 E + {hiE
V |ix E +E { { x E P V { E
| {c V Ei i E +ll x + +vE
=ilxi E l r E *
1.2

services. The recovery in advanced economies will bolster

external demand and government actions are likely to remove
some structural bottlenecks impeding industry and investment.
Moreover, steady easing of CPI-based inflation will provide
more space for monetary policy to support growth. The partial
withdrawal of quantitative easing stimulus in U.S. that began
in January 2014, had little impact in the domestic market,
thereby, indicating that the economy has now grown more
resilient.

E +ll

1.2 GLOBAL ECONOMY

{h n E <x , =SS + +ll+ E .B

{< i xV + * OE + nx
=i, { E JS, +tME =i{n, VM |{i r E
{ |ii i V .B. og r E Ei * V{x
E +ll x og k + pE |ix E |iG
Vn r E { E , gi pi + E {{i
x xi E g n * +ii: Vx ng r E
{h{ k 12-13 E n i Ij E
r vxiE { {ii <* il{ {h E]-{ i
E xS + Ij E EU vE |i n
E]-{ i 10 |ii +vE E * k V
ix + =SS + n { EV M E
Vn k 13-14 E n + i i E
+ll+ r Vi x M<*

Among years of outright recession, recovery appears to be

taking hold in high-income economies especially in the US. A
rebound in consumer and business sentiment that reflected
in rising household spending, industrial output and employment
gains, indicates firming of growth in the US. The economy of
Japan has responded to strong fiscal and monetary stimulus
with robust growth, rising inflation and a substantial
depreciation of the currency that has boosted exports. Finally,
the Euro Area growth turned positive in the second quarter of
FY12-13, led by stronger growth in Germany. Nevertheless,
output remains well below pre-crisis levels and more than 10
per cent below pre-crisis levels in some of the hardest-hit
countries of Euro area. Growth in the developing economies
began to strengthen in the second and third quarters of
FY13-14, despite financial market tensions and slightly weaker
momentum in high-income countries.

E r iV x E x V k 13-14
MM 3.2 |ii + k 14-15 3.4 |ii x
E x * E =i{n < r E x =zi
+ll+,E .B. |i * il{, .B. Mi
E i {hiE r, ii +{i E Si + Ij
EV ix{j E l l =i V + E
+ll+ piVxE n E Eh r {l E +vM
x E VJ E * l ix |J +ll+
i{h Sxi x Miv E EV i, @h E
i + VJ V v E Mi E v E Ei *

Global growth accelerations are expected to be moderate at

around 3.2 per cent in FY13-14 and 3.4 per cent in FY14-15.
This pick-up in global output is expected to be driven by the
advanced economies, especially the US. However, downside
risks to growth trajectory is still pertinent due to ongoing
tapering of quantitative easing in the US, continuing deflation
concerns and weak balance sheets in the euro zone
accompanied by inflationary pressures in the emerging markets
and developing economies. Also, significant challenges remain
in all the three major economies: the weak levels of activity,
burdensome debt levels and risks that may slow the pace of
reforms.

k 13-14 EM Ij E Ex{nx + k
14-15 E xB
k 13-14 E { x E nx E E Vr @h
r +M xE M< V Ji: E { b Vx E
+iMi V]< M< B b 23 x BBx+() V
E Eh +* i V E u =`B MB z pE
Ji ={ E Eh { V B +x xv E Mi >S
x * k 13-14 EM =tM E V
14.6 |ii + @h 14.3 |ii E r nV E M<*
{E +tME n x E E +i Mhk E VxE
Ij E E { |iE | b CE E l Vxx
k 2008-09 E n Ji: =i{nE Ij E i |nx
E* @h r n x EM =tM E Bx+<B (x V
Vx) { n b * k 13-14 E nx +xE
E E +Vx =SSi @h Mi E l l xx Bx+<B E
Eh +xi l*

1.3 PERFORMANCE OF INDIAN BANKING SECTOR IN

FY13-14 AND OUTLOOK FOR FY14-15

1.3

During the first nine months of FY13-14, the growth in banks

domestic deposits outpaced credit growth, largely because of
US$23 billion FCNR (B) deposits mobilized under the RBIs
swap window scheme. The cost of deposits and other funds
remained high throughout the year on account of the various
monetary tightening measures undertaken by the Reserve
Bank of India (RBI). The banking industry has registered growth
of 14.6 per cent in aggregate deposits and 14.3 per cent in
credit in FY13-14.
A broad-based industrial slowdown adversely impacted the
asset quality of banks, especially the public sector banks as
they were the ones who primarily supported productive sectors
after FY08-09. Slow loan growth has weighed heavily on Net
Interest Margin (NIM) of the banking industry. The earnings of
several banks during FY 13-14 were depressed by low NIMs
combined with higher credit costs.

10

VxE + xV E E E +xVE +i (VBx{B) 30

i 2013 E lli 4.0 |ii g E 31 n
2013 E lli 4.1 |ii M<* +xi Ji: VxE
Ij E E u nV {V E Eh + VE Eh VBx{B
|ii V i 2013 4.5 |ii l n 2013
gE 4.7 |ii M*
il{, VxE Ij E E E +xi E Mi xB {V E
E Eh v < V i + Vx 2013 E G: 3.6 |ii
+ 4.2 |ii P]E n 2013 3.2 |ii M*
|ii @h E +v {S Ij E E{x - +vi +Sx,
+ <{i, ]C]<, xx + Jxx l*

The gross non-performing assets (GNPA) for public plus private

banks increased from 4.0 per cent as on September 30, 2013
to 4.1 per cent as on December 31, 2013. This deterioration
was primarily on account of slippages posted by the PSBs, for
whom the GNPA percentage increased from 4.5 per cent in
September 2013 to 4.7 per cent in December 2013.

*** nxn E +iMi E E S 15 iE Z <C]

] * {V E 5.5 |ii + O ]* {V E 7 |ii
|{i Ex M* x nJ E E VxE Ij E E
{V M + < o]Eh E Si k 14-15
VxE Ij E E E `11200 Ec |nx E Vx |ii
*
k 14-15 E + gi B +ll i r E
Vn E E r, |ni + +i Mhk E x x
E x * B Bb { {] E +x +M 12 x iE
E E +i Mhk E x M CE +lE {<
l x E x * < P =nM E {< +
E{] ix{j E V E i MM*

Under the Basel III guidelines, banks have to achieve Common

Equity Tier I capital of 5.5 per cent and overall Tier I capital of
7 per cent by March15. We have seen that the government
has been infusing capital in the PSBs, and going by the same
approach, it is proposed to provide `11,200 crore in FY 14-15
in PSBs.

2. <n

2.

However, the pace of deterioration for PSBs moderated with

fresh slippages declining to around 3.2 per cent in December
2013 from 3.6 per cent and 4.2 per cent in September and
June 2013 respectively. Half of the stressed loans came from
companies in five sectors- infrastructure, iron and steel, textiles,
aviation and mining.

Going forward in FY 14-15, growth, profitability and asset

quality of banks is likely to remain subdued despite a probable
uptick in economic growth. According to an S&P Report,
problems with banks asset quality are likely to persist for the
next 12 months because the economic recovery is likely to be
tepid. It will take time for the domestic industry to recover and
corporate balance sheet leverage to decline.

E E Ex{nx

PERFORMANCE OF ALLAHABAD BANK

E E Ex{nx E h k 13-14 E nx ={H

]-+lE B EM { E {|I xi { E
Vx *

The performance of the Bank is to be analyzed concomitantly

with the aforesaid macroeconomic and banking environment
during FY 13-14.

{SxMi {h
J xnb E E Ex{nx xxH h
|ii :

2.1 OPERATING RESULTS

2.1

Banks performance in key business parameters is presented

below :

(` Ec )/( Amt in ` Crore)

S 12

S 13

S 14

r (%)
(-n-)

xnb/ Parameter

Mar12

Mar13

Mar14

E / Total Business
E V / Total Deposits
E +O / Total Advances
E x / Gross Investments
x /Net Profit
{SxMi / Operating Profit
]bM E UcE {Sx

271843
159593
112250
54770
1867
3770

309678
178742
130936
58617
1185
3385

331748
190843
140905
64348
1172
4020

Growth (%)
(Y-O-Y)
7.13
6.77
7.61
9.78
(1.11)
18.76

Operating Profit Ex. Trading Profit

3657

2705

3733

38.00

Provisions & Contingencies

E + / Total Income

1903
16822

2200
18913

2848
20913

29.45
10.57

Total Expenditure (Excl. Prov.)

13052

15527

16892

8.79

5163

4866

5311

9.14

|vx B +EEiB
E (|vx E UcE)
V |b / Interest Spread

11

2.2

Ex{nx ]iB

2.2 PERFORMANCE HIGHLIGHTS

E E E {U E `3,09,678 Ec E {I
-n- +v { 7.13% E r ni B gE
`3,31,748 Ec M*

Total Business of the Bank increased to `3,31,748 Crore

as against `3,09,678 Crore in previous year showing a
YOY growth of 7.13 %.

E E {Sx {U E `3385 Ec E {I
-n- +v { 18.76% E i r ni B gE
`4020 Ec M*

Operating Profit surged to `4020 Crore as against

`3385 Crore last year showing a YOY growth of 18.76%.

x {U E `1185 Ec E {I 31.03.2014
E {i k E nx -n- +v { 1.11% E
@hiE r ni B P]E `1172 Ec M*

Net Profit came down to `1172 Crore during the Financial

Year ending 31.03.2014 as against `1185 Crore last year
showing a negative YOY Growth of 1.11 %.

x V Vx (Bx+<B) {U E 2.81% E {I
S 2014 E {i k E nx 2.75% *

Net Interest Margin (NIM) decreased to 2.75 % during

the Financial Year ending March, 2014 as against 2.81%
last year.

E E E V -n- +v { 6.77 %E
r ni B {U E `1,78,742 Ec gE
`1,90,843 Ec M<*

Deposits of the Bank went up to `190843 Crore from

`178742 Crore last year. Year-on-Year basis, Total
Deposits grew by 6.77 %.

E @h {U E `1,30,936 Ec E {I iV
gE `1,40,905 Ec M* -n- +v {
E @h 7.61% E r <*

Gross Credit surged to `140905 Crore from `130936

Crore last year. Year-on-Year basis, the Gross Credit
increased by 7.61 %.

@h V +x{i S, 2014 E lli 74.26% *

Credit Deposit Ratio stood at 74.26% as at March, 2014.

Jn @h n 9.37% E r E l 17654 Ec
gE `19308 Ec M*

Retail Credit grew to `19308 Crore from `17654 Crore

last year, with an Y-O-Y growth of 9.37%.

S 2014 E {i k E nx Mxv M V
+ {U E `918 Ec E {I `1085 Ec *

Non-Fund Non Interest Income during the Financial Year

ending March, 2014 stood at `1085 Crore as against `918
Crore last year.

31.03.2014 E lli {V {{ii +x{i -II

xnb E +iMi 10.26% + -III xnb E +iMi
9.70% *
31 S 2014 E E +O E Bx{B + x
+O x Bx{B G: 5.73% + 4.15% *

Capital Adequacy Ratio stood at 10.26 % as on

31.03.2014 under Basel-II norms and at 9.96% under
Basel-III norms.

|vx EV +x{i 46.03% *

Provision Coverage Ratio stood at 46.03%.

Gross NPA to Gross Advances and Net NPA to Net

Advances Ratios stood at 5.73% and 4.15 % as on 31st
March, 2014 respectively.

2.3 {V

B +Ii xv
i E E <C] E +vx +]x E Eh E E |nk
<C] {V 31.03.2013 E lli `500.03 Ec gE
31.03.2014 E lli `544.61 Ec M<* 31.03.2014
E lli +Ii xv + +v lli 31.03.2013 E
`10,852.49 Ec fE `11,256.12 Ec MB*
2.4

2.3 CAPITAL AND RESERVES

Due to preferential allotment of equity to Government of India,
the paid-up equity capital of the Bank increased from `500.03
crore as on 31.03.2013 to `544.61 Crore as on 31.3.2014.
The reserves & surplus went up to `11256.12 Crore as on
31.03.2014 from `10852.49 Crore as on 31.03.2013.

2.4 DIVIDEND

E E xnE b x nxE 11 Vx 2014 E < +{x `E

`2.50 |i <C] +li |nk <C] {V E 25% E n
+i E Ph E * Mix E il 30
Vx 2014 l*

The Board of Directors of the Bank in its meeting dated 11th

January, 2014 declared an interim dividend of `2.50 per equity
share i.e. @ 25% of the paid up equity capital of the Bank. The
Dividend payment date was 30th January, 2014.

<E +iH E E xnE b x k 2013-14 i

E +i E ii x E *

Further, the Board of Directors of the Bank has not

recommended any final dividend for the financial year 201314.

12

2.5 k

+x{i / Financial Ratios

xnb / Parameters
{V {{ii +x{i(%)/Capital Adequacy Ratio (%)
II E +x /As per BASEL-II
] I {V {{ii +x{i (%)/ Capital Adequacy Ratio Tier I (%)
] II {V {{ii +x{i (%)/ Capital Adequacy Ratio Tier II (%)
E {V {{ii +x{i ] II (%)/ Total Capital Adequacy Ratio Tier II (%)
III E +x /As per BASEL-III
Ex <C] ] I {V {{ii +x{i (%)

31.03.12

31.03.13

31.03.14

9.13

8.05

7.67

3.71

2.98

2.59

12.84

11.03

10.26

Common Equity Tier I Capital Adequacy Ratio (%)

NA

NA

7.35

E ] I {V {{ii +x{i (%)/ Total Tier I Capital Adequacy Ratio (%)

] II {V {{ii +x{i (%)/ Tier II Capital Adequacy Ratio (%)
E {V {{ii +x{i (+B+) (%)/

NA

NA

7.51

NA

NA

2.45

Total Capital Adequacy Ratio (CRAR) (%)

NA

NA

9.96

Spread to Average Working Fund (%)

xv E +i Mi (%) /

3.48

2.62

3.70

Average Cost of Funds (%)

xv { +i + (%) /

6.98

7.31

7.04

Average Yield on Funds (%)

10.48

10.08

9.71

7.07

7.51

7.24

Average Yield on Advances (%)

|i +Vx (`)/

12.09

11.43

10.83

Earnings per Share (`)

|i (`)/

39.18

23.70

22.89

192.93

209.93

201.04

1.02

0.64

0.57

Return on Average Net Worth (%)

|vx EV +x{i (%)/

19.35

11.77

10.93

Provision Coverage Ratio (%)

x Bx{B (%)/Net NPAs (%)

74.00
0.98

50.00
3.19

46.03
4.15

8.36

5.25

4.77

1217

1373

1350

+i E xv E |b (%)

V E +i Mi (%)/
Average Cost of Deposits (%)

+O { +i + (%)/

Book Value per Share (`)

+i { |i (%)/
Return on Assets (%)

+i x]l { |i (%)/

|i ES (` J )/
Profit per Employee (`in lacs)
|i ES =i{nEi (` J

)/

Productivity per Employee (`in lacs)

E B JB
E E 2840 P JB B MEM BE n J *
2840 P J+ 1131 Oh, 592 +v-, 581
B 536 xM JB * k 13-14 E nx E x
124 x< JB J Vx 26 Oh, 39 +v-, 30
B 29 xM JB * <E +iH E i Ij
18 JB J M<* k 14-15 E nx 450 x<
JB Jx E E E Vx *

2.6 OFFICES & BRANCHES

2.6

The Bank is having 2840 domestic branches and one overseas

branch at Hongkong. Out of 2840 domestic branches, 1131 are
at Rural, 592 at Semi-urban, 581 at Urban and 536 at
Metropolitan Centre. During the financial year 13-14 Bank opend
124 new branches, out of which 26 are at Rural, 39 at Semi
Urban, 30 at Urban and 29 are at Metro centers. Further, 18
branches have been opened at Unbanked centers. Bank has
plans to open 450 new branches during the financial year
14-15.

13

V Oh
E E E V {U E 12% r E {I lli
31.03.2014 E 6.77% E r ni B `1,90,842 Ec
M<* <E Eh l E nx =SS Mi E lE V
+ b E ]x E B E u M Ei xh*
<E {h{ E E V + +Ec {U
E ix xxi r <* Si E V lli
31.03.2014 E `5753 Ec gE `59824 Ec M< V
E V E 26.74% * E x E Mi E V E
Oh { n + E nx +xE Si E V +
E V Oh +x SB MB*

3. DEPOSIT MOBILISATION

3.

4.

Total deposits of the Bank showed a growth of 6.77 % to

`190843 Crore as on 31.03.2014 as against a growth of 12 %
a year ago. The reason being, a conscious decision taken by
the Bank to shed part of high cost bulk deposits and CDs during
the year and this has resulted into lower growth rate in Deposits
and Business figures of the Bank, compared to previous years.
SB deposits grew by `5753 crore to `50728 Crore as on
31.03.2014, constituting 26.74 % of aggregate deposits. Bank
emphasized on CASA deposits mobilization and observed
saving deposits & CASA deposit mobilization campaigns during
the year.

@h +xVx

4. CREDIT DEPLOYMENT
Total advances of the Bank went up by 7.61% to `140905
Crore as on 31.03.2014. Credit-Deposit ratio (gross) stood at
74.26 % as against 74.00% last year. The Base Rate (BR) of
the Bank was at 10.25 % on 31.03.2014. Yield on advances
stood at 10.83 % during 2013-14 as against 11.43% during
2012-13 in line with the general market scenario.

E E E +O lli 31.03.2014 E 7.61% gE

`1,40,905 Ec M* @h - V +x{i (E) Mi E
74.00% E {I 74.26% * 31.03.2014 E lli
E E +v n (+) 10.25% * x V {o E
+x{ +O { |i 2012-13 E nx 11.43% E {I
2013-14 E nx 10.83% *
4.1 E{]

B b E{] @h

4.1 CORPORATE & MID CORPORATE CREDIT

E x ii {nM B @h |x k {{] E
+MEh { |Ji n * E nx @h E Mhk
Zi EB x xh x E Mi E iV Ex E | EB
MB * +i E Mhk v x E +{x ix E
hxi E + E { +O E ix li xE]
+x + E { {i Mx + E i {
E EV/i SE E xvh Ex E B E h
E * < @h E Mhk M] E Ex E B E
E viE ={ Ex nn M, V {j @h
E {xM`x *
4.2

The bank has major thrust on faster delivery & adoption of

best practices in credit administration. During the year, efforts
were made to improve the speed of decision making without
compromising on quality. As a part of its ongoing business
strategy to improve the quality of assets, the bank analyses
the prevailing position, problems foreseen in near future and
identifies weaknesses/potential defaults at any stage. This
enables the Bank to take corrective steps to prevent impairment
in credit quality, which includes restructuring in deserving
cases.

] @h

4.2 RETAIL CREDIT

] @h ({]] E x< E UcE) E +iMi E E

31.03.2013 E lli `14773.00 Ec E {I 31S
2014 E lli `16976 Ec l* < |E -n-
14.91% E r nV E M<* M @h M] + E @h
M] G: 26.23% + 25.57% E =Jx r (n-) <*
OE E /v i E gx E B E x
i M @h =vEi+ E =xE Ex/}] E +i {
nB Vx { =xE + xnb { +vi { +xni M
@h (+ E | B|b ]-B{{B) E * <
i M @h =vEi+ E {k E +i { nx {
M @h E =xE {ji E Vxx nn M*

Total Outstanding under Retail Credit as on 31.03.2014 stood

at `16976.00 Crore as against `14773.00 Crore as on
31.03.2013. The growth so registered on Y-o-Y basis is 14.91%.
In Housing Loan segment and Car Loan segment there is
appreciable growth (Y-o-Y) of 26.23% and 25.57% respectively.

I @h Vx E +EE V n il |J l+ i
xxi |ii +{I E l + +vE OE i x M
* Ei{ xvx + i E { Ex E +vvx xV] E]
tl E I @h Vx E {v E +iMi M *
Uj+ E V n 0.50% E i n M< *

Education Loan Scheme has been made more customers

friendly with attractive rate of interest and lower security
requirement for premier Institutions. Management quota
students have also been brought under the purview of
Education Loan Scheme subject to fulfillment of other terms
and conditions. Interest concession of 0.50% is offered to Girl
students.

] @h {] iV x i h E OE E B
EV b l ] ]/M x/B Ebx +n E

A new product namely All Bank Home Appliance Finance

Scheme have been launched for financing consumer durables

To enhance the confidence / comfort level of the customers,

recently, Bank has introduced the facility for Pre Approved
Housing Loan limit (All Bank Pre Approved Limit-APPL) based
on the income criteria of the prospective Housing Loan
borrowers before finalizing their House / Flat. This will enhance
the comfort to the prospective Housing Loan customers about
their eligibility of Housing Loan, even before finalization of the
property.

14

k{h E B + E B{ <x E xE BE
x =i{n + E M *
5.

like TV Set/Washing Machine/Air Conditioner etc. to all

categories of customers to boost Retail Credit portfolio.

|lEi Ij @h

5.

Priority Sector Credit

|lEi Ij @h 31.03.2013 E lli `39403 Ec

g E 31.03.2014 E lli `47741 Ec M
+ < |E <x -n- +v { `8338 Ec
(21.16%) E x{I r nV E* E x S 14 E
lli BBx E 38.30% |{i E *

Priority Sector Credit grew from `39403 Crore as on

31.03.2013 to `47741 Crore as on 31.03.2014, registering
an absolute YOY growth of `8338 Crore (21.16%). Bank
has achieved 38.30 % of ANBC as on Mar14.

E @h S 2013 E lli `17688 Ec g E

S 2014 E lli `21924 Ec M + <
|E <x -n- +v { `4236Ec (23.95%) E
x{I r nV E* E x S 14 E lli BBx
E 17.59% |{i E *
|iI E @h S, 2013 E lli `13,712 Ec
g E S 2014 E lli `16,687 Ec M +
< |E <x -n- +v { `2957 Ec (21.70%)
E r x{I nV E* E x S 14 E lli BBx
E 13.39% |{i E *
ix 2013-14 E nx E @h x @h ih
`7590 Ec E I E {I `7970 Ec iE {S M
+ < |E I E 105.01% |{i E M*

Agriculture Credit increased from `17688 Crore as on

March 2013 to `21924 Crore as on March 2014,
registering an absolute YOY growth of `4236 Crore
(23.95%). Bank has achieved 17.59 % of ANBC as on
Mar14.
Direct Agriculture Credit increased from `13712 Crore
as on March 2013 to `16687 Crore as on March 2014,
registering an absolute YOY growth of `2975 Crore
(21.70%). Bank has achieved 13.39 % of ANBC as on
Mar14.
Fresh Credit Disbursal in Agriculture Loans reached
`7970 Crore during the current year 2013-14 against the
target of `7590 Crore, achieving 105.01% of the target.

|lEi Ij B E E +iMi ={v xvi xnb

{ E *

The achievements under PS and Agriculture were marginally

lower than stipulated norms.

31.03.2014 E lli |lEi Ij B EV M E +iMi

E E Ex{nx xxx :

Banks Performance under Priority Sector and Weaker

Sections as on 31.03.2014 is presented below:

={ Ij

S/Mar-12

S/Mar -13

Sub-Sector

(` Ec )/( Amount ` in Crore)

S/Mar-14
r (%)
(-n-)
Growth (%)
(Y-O-Y)

|iI E
(BBx E %)
(xnb xxi 13.5 %)
Direct Agriculture
( % to ANBC)
(Norm 13.5% Min.)

12304.38
(13.55%)

13711.99
(12.69%)

16686.99
(13.39%)

21.70

4285.43
(4.50%)

3976.20
(3.68%)

5236.88
(4.20%)

31.71

16589.81
(18.05%)

17688.19
(16.37%)

21923.87
(17.59%)

23.95

+|iI E
(BBx E %)
(xnb xxi 4.5 %)
Indirect Agriculture
(% to ANBC)
(Norm 4.5% max.)

E E
(BBx E %)
(xnb 18%)
Total Agriculture
(% to ANBC)
(Norm 18%)

15

={ Ij

S/Mar-12

S/Mar -13

S/Mar-14

r (%)
(-n-)

Sub-Sector

Growth (%)
Y-O-Y

I B P =n(BB<)/
Micro & Small Enterprises

16182.28

16570.21

19519.66

17.80

4624.34

5145.04

6297.66

22.40

37396.43

39403.44

47741.19

21.16

(41.19%)

(36.47%)

(38.30%)

+x |lEi Ij @h
Other Priority Sector Credit

E |lEi Ij @h
Total Priority Sector Credit

(BBx E %)
(% to ANBC)

(xnb 40%)
(Norm 40%)
5.1

{ Ex Eb (+E)

5.1 RUPAY KISAN CARDS (RKC)

k 13-14 E nx E x 2.58 J xB Ex Gb] Eb

V EB V `4037.21 Ec E @h xi *

The Bank issued 2.58 lacs fresh Kisan Credit Cards

involving a credit amount of `4037.21 crores during
the financial year 13-14.

E +I E Ex Gb] Eb Vx E +iMi
E @h +nx E bV] { |M E *

Bank is digitally processing all KCC loan applications

under Akshay Krishi-Kisan Credit Card Scheme.

S 2014 iE E x 257123 { Ex Eb V EB
+ <x S k E nx i {j E Ji
vE E Eb V Ex E Vx x< *
{ Ex Eb E u =vEi { Si B]B
xEn xE E Ei il {<] + ({+B)
x Jn E Ei *

Bank has issued 257123 Rupay Kisan Cards till March

2014 and has planned to issue cards to all eligible KCC
account holders during this Financial Year.

Bbbb+ Vx-2008 E +iMi Ji E {x: i{x

5.2 RE-VERIFICATION OF ACCOUNTS UNDER ADWDR

SCHEME-2008

E @h B @h i Vx (Bbbb+) Vx2008 E +iMi Ji E {x: i{x E |G { E M< *

i{h il UcUc E E< P]x x {< M< *

The process of re-verification of agriculture accounts under

Agriculture Debt waiver & Debt Relief (ADWDRS) scheme2008 has been completed. No incidences of any tampering of
material facts have been found.

5.3 BB<

5.3 MSE SECTOR FINANCING

5.2

Through Rupay Kisan Cards the borrowers can withdraw

cash from Rupay enabled ATMs and can make purchases
at point of sales (POS) machines.

Ij k{h

<G B P =t(BB<) Ij E @h S 2013 E lli

` 16570 E c g E S 2014 E lli
`19,520 Ec M Vx -n- +v { `2950 Ec
(17.80%) E x{I r nV E *
5.4 {E H @h x V]BB< E +iMi EV

Credit to Micro and Small Enterprises (MSE) grew from

`16570 Crore as on March 2013 to `19520 Crore as on March
2014, registering an absolute YOY growth of `2950 Crore
(17.80%).

E x V]BB< E +iMi EB MB {E H @h
E {nM { i +vE n * 31 S 2014 E lli
V]BB< E +iMi `1611.23 Ec E 37903 |i E
E E M *
5.5 <G k l+ (BB+<) E E BC{V

Bank has given much thrust on credit delivery to collateral

free loans covered under CGTMSE. As on 31.03.2014, 37903
proposals have been covered under CGTMSE amounting to
`1611.23 Crores.

31.03.2014 E lli 12 BB+< Ji E

`234.22 Ec l*

As on 31.03.2014, outstanding prevails at `234.22 crores in

12 number of MFI accounts.

5.4 COLLATERAL FREE LOANS VIS--VIS COVERAGE

UNDER CGTMSE

5.5 BANKS EXPOSURE

INSTITUTIONS (MFIS)

16

TO

MICRO

FINANCE

E{] VE ni
6.1 k 2013-14 E nx E x E{] VE
ni (B+) E +iMi z M`x/Miv E
E `29.68 J E i |nx E , VxE h
xxx :
G.. M`x/Miv

6. CORPORATE SOCIAL RESPONSIBILITY

6.1 During the financial year 2013-14 Bank provided fianancial
support aggragating to `29.68 lac under Corporate Social
Responsibility (CSR) to various organisations/activities as
detail below.

6.

Sl.
No.

JS E M<

Organisations/Activities

Amount Spent
(`J /` in lac)

V M{i E ] Bb S <]]]
Saroj Gupta Cancer Centre & Research Institute

2.89

=nx x { |O
Udyan Shalini Fellowship Prog.

0.24

] { B < x
(b E M] u ii)
Water Purifier & Sewing Machine
(Distributed by ZO Guwahati)

0.55

x +V + E
Bhawna Aj O Kal

1.00

i Vx + ]] +nn
E E Uj E i + xEh
Repairing/ Renovation of Girls Hostel of Sabarmati
Harijan Ashram Trust, Ahmedabad

10.00

xSx x] + ]CxV Bb xV], x

Centurian University of Technology and Management, Bhubaneshwar

6.2 E E | z v V E Ex E *
E{] VE ni E x Ei B +{x { E
+xG E x z vl l+/ xv E Sn n ,
V xxx :
B. =kJb Jj
i E
(`5.00 Ec)
. Mx EM i
i V{

6.2

Bank's endevaour is to serve the society through various

means. Taking its inititave further towards Corporate
Social Responsibility, the Bank made donations to
various charitable institutations/fund as detailed below:
a.

b.

(`0.05 Ec)

15.00

Uttarakhand Chief Ministers

Relief Fund

(`5.00 Crore)

Bhagwan Mahaveer Viklang

Sahataya Samiti, Jaipur

(`0.05 Crore)

7.

+Oh E Vx

7. LEAD BANK SCHEME

E =k |n E 13 ZJb E 2 il v |n + {S
M E BE-BE V i E 17 V +Oh E
ni E xx E *

Bank is having Lead Bank responsibilities in 17 districts,

13 in Uttar Pradesh, 2 in Jharkhand and one each in
Madhya Pradesh and West Bengal.

V @h Vx 2013-14 E +iMi E x <x V

|lEi Ij @h E +iMi `3256.40 Ec E I E
{I `3490.98 E @h ii E I E 107.30%
E *
+Oh E E { , E x V B Exp E E
EG E Exx { E *
Ij Oh E (++)
E u |Vi BE Ij Oh E +li <n
{ Oh E, n(=|) E* B{V E E
k 12-13 E `87.46 Ec P]E k
13-14 E nx `27.46 Ec M*

The Bank disbursed `3494.26 crore under Priority Sector

Credit against a target of `3256.40 crore under Lead
District Credit Plan 2013-14 achieving 107.30% of the
target.

As Lead Bank, our Bank took initiatives in implementing

all State and Central Government programmes.

8.

8. REGIONAL RURAL BANK (RRB)

17

There is one Regional Rural Bank sponsored by our Bank

i.e., Allahabad UP Gramin Bank (AUPGB), Banda (UP).
The gross profit of AUPGB has come down to `27.46
Crore during FY 13-14 as against `87.46 Crore during
FY 12-13.

B{V x `6450.79 Ec E V V] E S
2013 E {I 1.65% E r nV E * < @hiE
r E J Eh Mz Mix E + E u =SS
Mi E lE V E ] Vx l*

The RRB reached a deposit level of `6437.08 crore

registering a negative growth of 1.85% over March 2013.
The main reason for this negative growth was due to
delays in receipt of cane payment by farmers as well as
shedding of bulk and high cost deposit by the Bank.

++ E +O `4253.71 Ec gE `5107.92
Ec (I `5470.00) MB V S 2013 E {I
20.08% E r E ni *

Advances of the RRB increased from `4253.71 crore to

`5098.91 Crores (Target `5470.00 crore) achieving a
growth of 19.87% over March 2013.

E nxn E +x ++ E JB
i{E B <O] M< + +{x OE E
Bx<B]/+]VB vB |nx E *

As per Government Guidelines, all the branches of the

RRB were migrated successfully to CBS and are providing
NEFT/RTGS facilities to its customers.

9.

Oh VM |Ih lx(+B<]+<) E li

9.

STATUS OF RURAL SELF EMPLOYMENT TRAINING

INSTITUTE (RSETI)

E E =k |n (15), ZJb (3), v |n (1) +

{S M ( 2) V E 21 +B<]+< V
Oh + E Gi E l E E |Ih
|nx E + Oh Vxi E S k Ii
VEi {n E *
Oh E j, i E u E M<
I E nx ObM i {j 17 +B<]+< 9 E
BB/B Ob |nx E M VE S 2012 < {U
I E nx BE lx E B Ob l*

Bank has a total of 21 RSETIs. These are in the states of

Uttar Pradesh (15), Jharkhand (3), Madhya Pradesh (1)
and West Bengal (2), which are actively imparting skill
development training to the rural youth and creating
financial literacy awareness among the rural people.

During a recent review by Ministry of Rural Development,

Govt. of India out of 18 eligible RSETIs for grading, 9
have been graded as AA/ A as compared to one A
grade during the previous review as on March2012.

E x 13426 VM + E 442 E E |Ih

|nx EB Vx k 13-14 E nx 5160
+ x E k E i +{x Jn E =t l{i
E *
+] , +li, J{ J E O Ex{nx E
+v { n E k Ex{nE l E { Sx
M + +] { E ix {E |{i + *
E E ivE E { ii {E |{i + *

Bank has provided 442 skill developments training to

13425 unemployed youth, out of which 5160 are settled
with bank finance during FY13-14 for starting their own
entrepreneurship ventures.

Our RSETI, namely Lakhimpur Kheri has been selected

as top performing institute in the country based on overall
performance & RSETI Hamirpur has been awarded
consolation prize. Our Bank has been awarded 3rd Prize
as a stakeholder.

10.

k Ii + @h { Exp(BB)

10. FINANCIAL LITERACY AND CREDIT COUNSELING

CENTRES (FLCC)

E E 17 +Oh V 17 + EEi BE BB
E E * < |E + 18 BB Ei *
Oh + +v- JB i V E E
k Ii { Gi Mi E *

Bank has 17 FLCs operating in all 17 Lead Districts and

one in Kolkata. As such, 18 FLCs are functioning now.

41211 Oh < xi B Vx 12020

E E OE x MB *
k x
E x 31.03.2014 E 5110 O E <E b u
+xni k x Vx E +iMi E E
VE +iMi Vn 121 n-n JB, 4 ]<]
JB J M< + 4985 O E b +vi
+<] E v E E M *
4985 O 412 +i P JB (B) J M<
V BE +vE E n E {Bx ExC]]
{]{ E l |E E EM vx |nx Ex
i O E n Ei *

All the Rural and Semi Urban branches are also actively
participating in the financial literacy initiatives of Reserve
Bank of India.
41211 Rural youth have been benefitted of which 12020
have been converted into Bank customer.

11.

11. FINANCIAL INCLUSION

Bank has achieved coverage of 5110 villages on
31.03.2014 under its Board approved financial Plan by
way of 121 brick & mortar branches, 4 Satellite branches
and 4985 villages covered through ICT based BC Model.

Out of 4985 villages, 412 Ultra Small Branches(USB) have

been opened , where one Officer visits the village on all
working days with Lap top having VPN connectivity to
render all types of banking solutions.

18

2000 E VxJ i E E +]i 15196 O

k x i ix Exx (2013-16) Vx
E x i E + {E k x i Exi
E V *

Three year plan for FI Implementation (2013-2016) for

population below 2000 in 15196 villages allotted to our
Bank has been prepared and being implemented towards
universal Financial Inclusion.

+i (Bx{B) E |vx - 2014

12. NON-PERFORMING ASSETS (NPAs) MANAGEMENT 2014

31.03.2014 E lli E E E Bx{B + x Bx{B

G: `8068.04 Ec + `5721.81 Ec l* E +O
+ x +O E Bx{B il x Bx{B E |ii
G: 5.73% + 4.15% * E E x E +SU E
(`3446.48) Ec E E l Ei `6021.22 Ec E x
Bx{B Vc Vx E Bx{B g M* E E |vx EV
+x{i 46.03% *

The Gross NPA and Net NPA stood at `8068.04 Crore and
`5721.81 Crore as on 31.03.2014 respectively. The Gross &
Net NPAs as percentage to gross advances & net advances
was 5.73 % & 4.15 % respectively. Though the Bank was able
to recover fairly good amount (`3446.48 Crore), due to fresh
addition of NPAs to the tune of `6021.22 Crore, the outstanding
NPA has increased. The provision coverage ratio stood at
46.03 %.

12.1 @h

12.1 CREDIT MONITORING & RESTRUCTURED DEBTS

12. +x{V

x]M B {xM`i @h

|vx E @h +i E x]M + {Ih i

|vE(@h x]M) E +vIi {lE |h l{i E
M< * @h x]M M +i Mhk xB Jx, +xi +
{V E Ex il nH +i E Ex E ={
Zx i ini l{i Ex E B Ij EvE E
Si Ei , =x Mnx ni + +xi E< Ei *

At Head Office level a separate vertical, headed by General

Manager (Credit Monitoring), has been set up because of the
challenging scenario, for monitoring and supervising the loan
assets. The Credit Monitoring Department alerts, guides and
follows up with the field functionaries for up-keeping of the
asset quality, preventing down-gradation and slippage and
advises measures against the delinquent assets.

+i E {V +x{i E {U k 12-13 E 5.35%

E {I k 13-14 E nx 4.79% { E M*

The slippage ratio of the assets has been contained at 4.79%

during FY13-14 as against 5.35% of corresponding previous
FY12-13.

12.2

{xM`i @h

12.2 RESTRUCTURED DEBTS

i V E |{i nxn E +x {nOi +i

E {xr E n E u xxx @h E {xM`x {
S E M*
{xM`x E |E
Type of Restucturing

b+ /CDR cases
M b+/Non-CDR
(i)

M- b+ -BB</Non-CDR-SME

(ii)

M-b+-+x/Non-CDR-Others

E {xM`x/Total Restructuring

Towards revitalising the distressed assets as per guidelines

from Reserve Bank of India, the restructuring of debts has
been considered by bank as under:
(` Ec /` in Crore)

31.03.2014
E E @h E |ii

E J

Amount Outstanding

%to Gross Credit

Sacrifice

42

4445.85

3.16

380.14

13473

6451.66

4.58

174.09

1807

489.45

0.35

9.69

11666

5962.61

4.23

164.40

13515

10906.51

7.74

554.23

{xM`i @h(xE)E j 31.03.2013 E lli 9.09%

E {I 31.03.2014 E lli 7.74% *
13.

iM

No. of cases

The quantum of restructured debts (Standard) is 7.74% of

Gross Credit as on 31.03.2014 as against 9.09% as on
31.03.2013.

+i] EM

13. INTERNATIONAL BANKING

E +{x +i] 53 |vEi/xq] J+ E

v Si Ei Vx 5 +xi] JB + M EM
li BE n J * 31.03.2014 E lli E
E xi @h `2859 Ec * E xiE E + +vE @h
|nx Ex i En =` * xiE E =x ={v
z v+ E VxE nx i z Exp { xiE E
`E +Vi E Vi * E x |J n E E l
E{b] v xB J + <E { 15 n E E l

The Bank carries out its International business in India through

its 53 authorised/ designated branches, which includes 5
International branches & through its overseas branch at Hong
Kong. Export credit of the Bank as on 31.03.2014 stood at
`2859 crore. The Bank is taking all steps to increase the credit
flow to exporters. Exporters meets are arranged at various
centres to explain various facilities available to them. The Bank
maintains correspondent relationship with prime banks abroad
and has Standard Settlement Instructions in various

19

z E ]bb ]] <]Cx * E +{x J+

E v +x i E +Ei+ E { Ei *

currencies with 15 foreign banks. The Bank is also catering to

the needs of Non-Resident Indians through its branches.

n ={li
E E MEM BE n J * MEM J E
31.03.2013 E lli `7354 Ec E {I 31.03.2014
E lli gE `7590 Ec M* MEM J x
k 13-14 `62 Ec E x +Vi E *
E E xZx, Sx BE |ixv E * E E fE,
Mn Ji Jx E +xnx i V E |{i
M + E x Mn E E =xE +xi i +nx
nJ E n *
15. E +vi +
E E E E +vi + k 12-13 E `917.88 E
{I 18.17% E -n- r nV Ei B k 13-14
E nx `1084.68 *
E x <x k =i{n E G i { i 144 {hx
+vE + 58 Ei H E +xVi E *

14. OVERSEAS PRESENCE

14.

Bank is having one overseas branch at Hong Kong. The

Business of Hong Kong branch has increased from `7354 cr
as on 31.03.2013 to `7590 cr as on 31.03.2014. The Hong
Kong branch has earned a net profit of `62 cr in FY13-14.
The Bank is also having a Representative Office at Shenzhen,
China. Bank has received approval from the Reserve Bank of
India for opening a Branch at Dhaka, Bangladesh and has
filed the application with Bangladesh Bank for their permission
15. FEE BASED INCOME
Total fee based income of the Bank during the financial year
13-14 was `1084.68 as against `917.88 in the financial year
12-13 registaring a Y-O-Y growth of 18.17%.
The Bank has deployed 144 Marketing Officers and 58
specified persons for sale of these financial products pan India.

16. |G {xx ({+)

OE E v{E B +EE B |nx Ex i |tME
li =i{n E E =i{nEi, nIi + |ni v
x { Vx |M -<VxM u |Ji vx
Epi E Vi *
< Vx E l =iE]i i {+ EI x |G B =i{n
Epi Miv OE Epi Miv E + J E
* |h B |G+ E S B xi B Vn
|G+ E Mi I E V + l i
vJvc + VV E Ex i xE ={ EB Vi *
k 13-14 E nx HMi SE E V Ex, E
E] E v Si E Ji Jx, n V {{Ci
x] V E + Miv i 1100 J+ E r
Ei B ExpEi |M ({BS) E + og E M
* M {BS J+ i HMi SE Mx E |h E
EpEi E M * Ob +vi SE ]Ex |h (]B)
E i Vn nIh Ob E +iH {S + =k Ob
E M *
17. x< {-<-b
<-

16. BUSINESS PROCESS RE-ENGINEERING (BPR)

Improvement in Productivity, Efficiency & Profitability with
introduction of technology enabled products for rendering
convenient, caring and attractive services to customers
continued to remain the prime focus of the Bank under
Business Process Re-engineering.
With this vision to strive for excellence, the Bank has moved
towards Customer Centric activities from Process and Product
Centric activities. The existing processes are being reviewed
continuously by streamlining & simplifying the systems &
processes and also as preventive steps against possible frauds
& forgeries.

E x 25 xM/ J+ <- + E +
k 14-15 E nx 225 <- Jx E Vx *
<- xxJi M

{ E |]M EE

SE b{V] EE

<]x] EM EE

E b{V] EE(M x] BC{])

Bank has introduced E- Lobbies in 25 metro/urban

branches and plans to open 225 during FY14-15. ELobbies will include the following:

={H E +iH E x 9 Oh J+ E b{V] EE

l{i EB + k 14-15 91 + EE Jx E
Vx *

Besides, above, Bank installed Cash Deposit Kiosks in 9 rural

branches and plans to open 91 during FY14-15.

During the financial year 13-14, Centralized Processing Hubs

(CPH) have been further strengthened by linking more than
1100 branches for back office activities like issuance of
Personalized Cheque Books, SB Account Opening through
Welcome Kits, Term Deposit Maturity Notices etc. For rest of
the Non-CPH branches, personalized Cheque Intending
System has been centralized. Grid based Cheque truncation
System (CTS) has been extended to Western & Northern Grid
also in addition to the existing Southern Grid.
17. NEW INITIATIVES - E-DELIVERY
E-LOBBY

20

Passbook Printing Kiosk

Cheque Deposit Kiosk

Internet Banking Kiosk

Cash Deposit Kiosk (Single Note acceptor)

Sx |tME
lli S 14 E B]B E E J gE 901 M< * E
x +{x OE E 27.97 J +vE B]B b] Eb V EB
* V b] Eb E <-E () i < E M * {<]
+ ({+B) E E J gE 316 M< * {+B
E ] Eb i < E M * <]x] EM Sx
E v S] <] { +x<x {] M] i{E
E E * bE + ]E | E v
M] 2300 +vE S] Vc *

18. INFORMATION TECHNOLOGY

18.

19.

Total number of ATMs of Bank has been increased to 901 as

on March'14. Bank has issued more than 27.97 lacs ATMcum Debit Cards to its customers. VISA debit card has been
made live for e-commerce (VbV). Total number of Point of Sale
(POS) has been increased to 316. POS has been made live
for Master Card also. Online Payment gateway services are
running successfully at the merchant websites through our
Internet Banking channel. More than 2300 merchants added
to our gateway through M/s Bill Desk and M/s Tech Process.

OE

19. CUSTOMER SERVICE

+{x OE E =iE] OE |nx Ex + I il P

=t E |nx Ex B i EM i + xE b
u ={v EB MB Ex Eb E OE E VMEi
=i{z Ex i E x +xE En =`B * <x EU =Jx
En < |E :
(i) Eb E +x +{x +vE E VxE |{i Ex
i OE E E E <] +l B+< E
<] { Vx E xjh nx E n B]B Gx {
|ni Ex*
(ii) B]B xnx {S E {U + B n E pi Ex
(iii)

As a commitment to provide excellent customer service and

services to Micro and Small Enterprises & to create awareness
to customers about the common codes provided by Banking
Codes and Standards Board of India (BCSBI), Bank has
introduced various steps. Notable among them are:
(i) Display on ATM screens inviting customers to visit the
Banks website or BCSBIs website for getting to know
about their rights in terms of the Codes
(ii) Printing of such messages on the backside of the ATM
transaction slip
(iii)Grievance Redressal Mechanism has been
strengthened for quick disposal of complaints with the
help of Internal Ombudsman posted by the Bank at
Head Office.

|vx E {nl +iE E{ E nn

Ei E ii x{]x i Ei xh ij E Vi
x M *

20. +{x

OE E VxB + B] x =xbM

20. KNOW YOUR CUSTOMER & ANTI MONEY

LAUNDERING

E x i V E E nxn E +x +{x OE E
VxB/B] x =xbM xnb vi ii xiMi nxn
+{xB * |x + x =bM BC] {BBB 2002 E
={v E +x +x h +li xEn xnx {]
(]+), nMv xnx {] (B]+) M l M`x xnx
{] (Bx]+) + V p {] (+) |ii Ex
v nxn - { V EB MB * <x
<]V x] + <b (B+<-+<Bxb) E +xn E
+x {]M |h E +x<x x M + {]
E xvi E +n =xE <] +{b E Vi *

The Bank has adopted the comprehensive policy guidelines

on Know Your Customer / Anti Money Laundering Norms in
consonance with the Reserve Bank of Indias directives. The
guidelines for submission of reporting under Prevention of
Money Laundering Act, PMLA, 2002 viz. Cash Transaction
Reports (CTRs), Suspicious Transaction Reports (STRs), Non
Profit Organizations Transaction Reports (NTRs) and
Counterfeit Currency Reports (CCRs) have been issued from
time to time. The reporting system has been made online
as per instructions of Financial Intelligence Unit of India
(FIU-IND) and all the reports are uploaded on their website
within prescribed time.

VJ |vx
-*** {V x v E nxn E 1 +|
2013 Exi E M * @h B {Sx VJ i
xi + |Gv E E nxn E +x{x
vi { n M + |Ji E M * E x ]
@h + xB ] ]M b i EEb Ei E *
@h VJ i +<+ o]Eh E Exx i @h v
]M b Ei E M VE Exx E E
]M |h u-+ VBM* E VJ +vi Ei ij
Ei Ex, VJ Vi Ex{nx {E (+B++)
fS E E E |G *

21. RISK MANAGEMENT

21.

RBI guidelines on Basel III Capital Regulations have been

implemented from 1st April 2013. Policies and procedures for
credit and operational risk have been formalized and
documented in compliance with RBI guidelines. The Bank has
developed score cards for retail loans and new models for
non-retail rating. In order to implement Internal Rating Based
(IRB) approaches for Credit Risk, Facility Rating Model has
also been developed, implementation of which will make the
rating system of the Bank two-dimensional. The Bank is in the
process of development of risk based pricing mechanism, Risk
Adjusted Performance measurement and calculation of RiskAdjusted Return on Capital (RAROC) Framework.

Sx E +vE
Sx E +vE +vx 2005 E +vxx E +xh E
x +{x |vx E 1 +{ +vE i b
E 48 Exp Vx Sx +vE E xq] E

22. RIGHT TO INFORMATION

22.

In pursuance of the enactment of Right to Information Act,

2005, the Bank has designated 48 Central Public Information
Officers at all its Zonal Offices including Head Office and an

21

* <E +iH, Exp Sx +M(+<) E nxnx

E i BE {ni +vE xq] E M * E
+{x <] { i: |E]Eh E v i E xME
E Sx ={v Ei + <E l-l +vx E +iMi
|{i +xv E x{]x { Sx ={v Ei * k
13-14 E nx E x +vx E +iMi Sx i 3082
+xv |{i EB + |l +{ i 590 +nx |{i EB Vx
3010 +]+< +nx B 516 +]+< +{ E xih
E M*
23. xIh B J{I

Appellate Authority at Head Office. Further, as per the directions

of Central Information Commission (CIC), a Transparency
Officer for the Bank, has also been designated. The Bank is
providing information to the citizens of India through suo-moto
disclosures on website as well as through disposal of requests
for information received under the Act. During FY13-14, the
Bank received 3082 requests for information and 590 First
Appeals, under the Act, out of which 3010 RTI applications
and 516 RTI appeals were disposed of.

E x VJ +vi +iE J{I + VJ +vi

i J{I E Exx E l J{I Vx E
J+ E VJ |< E +x x + J{I
vx E n =SS VJ Ij E + E M< *

With the implementation of Risk Based Internal Audit & Risk

Based Concurrent Audit, the Audit plan is now made as per
the Risk profile of the branches and the audit resources are
directed towards high risk areas.

E x Ei{ Ij E V ] BV E { xvi
E * < J+ |h + xjh + Vi
xSi Ex E l l {lx + +xii+ E xxi
i { x nn M*

Bank has since indentified certain areas as Zero Tolerance

Areas. This will foster and ensure further robustness of the
system and control in the branches as well as to keep the
deviations and irregularities at a bare minimum level.

24.

23. INSPECTION & AUDIT

iEi

24. VIGILANCE

E x E xE B iEi E Ij +xE x<

{ E * vJvc E P]x+ { +E Mx i EB MB
Ei{ i{h ={ < |E - ii {I l+ E vx
S E +x n, =vEi+/M]Ei+ u |ii k
h E J{I E iEi E i{x, =vEi+,
M]Ei+, vEEi+ E {] E +x n, Exp
V] (<+BB+<) E n E v vE i |ii
{k E li E VS + {k { E E | E x]M/
{VEh E +xvh*
iEi E <n E E xn Ex{nx E xi
nx i E E <]]] + {E <]|<VV nn u
<E h Vi V BC +b 2013-14
|nx E M*
25. E
] {x Vx(Bx{B) E +iMi E x k 13-14 E
n x 2290 +iH J+ E |vEh u Bx{B (x)
E EV Ij E i E * k 13-14 E nx E x
i E u E M< <x}x <bCb xx M
C]V-(+<+<BxBB-) E +iMi +nx E E

Bank has taken many new initiatives in the area of preventive

& predictive vigilance in the recent years. Certain important
measures undertaken to curb incidents of frauds include
mandatory reference to Cautionary list of Third Party Entities,
verification of genuineness of auditing of Financial Statements
submitted by Borrowers/Guarantors, mandatory reference to
CIBIL Reports of the borrowers, Guarantors, Mortgagors,
checking status of properties proposed for mortgage through
reference to Central Registry (CERSAI) and to ascertain noting/
registration of Banks charge on the property.

+]]b b] } (BbB)
E E o]Eh {j E +x |vx E E E BbB
EI BE { + xv {]M |h E Exi E
V x+ iI{ E x E E z i |h
Sx ExpEi b] {V](b+) Vi + {]
Vx] E V *

26. AUTOMATED DATA FLOW (ADF)

V
V Exx E Ij =iE] Ex{nx E B E
E +xE ] i E {E |{i B * E E 2011-12
i V Exx E Ij =iE] Ex{nx E B
V M, M j, i E u |i`i <n

27. OFFICIAL LANGUAGE

In recognition of spectacular performance of Allahabad Bank

in vigilance functions, the Bank has been awarded Vigilance
Excellence Award 2013-14 by the Institute of Public
Enterprises, Hyderabad during its Golden Jubilee Celebrations.
25. GOVERNMENT BUSINESS
Under National Pension System (NPS), the Bank expanded
the coverage area for NPS lite (Swabalamban) by getting
authorization of 2290 additional branches during the FY1314. During the FY13-14, the Bank has accepted subscription
under Inflation Indexed National Savings Securities-(IINSSC) launched by the Government of India.

26.

As per the RBI Approach Paper, ADF cell of the Bank at Head
Office is implementing a uniform and seamless reporting
system, where information from Banks different source
systems are flowing to a Centralized Data Repository (CDR)
without any manual intervention and reports are being
generated.

27.

The Bank received several National level prizes for outstanding

performance in the area of implementation of Official
Language. The Bank was awarded Consolation Prize under
prestigious Indira Gandhi Rajbhasha Puraskar for the year
2011-12 for commendable performance in the area of Official

22

Mv V {E E +iMi ix {E |nx E
M* |i`i {E E E iiEx +vI B |v xnE
n i I {x u 14 i 2013 E i E
]{i |h JV xx Exp M V j
+.{.Bx. B xx M V j B Sxpx E
={li |{i E*

Language Implementation from Official Language Department,

Ministry of Home affairs, Government of India. This coveted
prize was received by the then Chairman & Managing
Director
th
of the Bank Smt. Shubhalakshami Panse on 14 September,
2013 from His Excellency, The President of India Shri Pranab
Mukherjee, in presence of Honble Union Minister of State for
Home Affairs Shri R. P. N. Singh and Honble Union Minister
of State for Home Affairs Shri M. Ramchandran.

E E 2011-12 i V E V b |iMi
E ii Ij M ii {E |{i +* E E iiEx
E{E xnE +h i x {E 28 +Mi 2013
E i V E E Exp E +Vi BE
i V E E iiEx Mx xx b. b.
|{i E* i V E u +Vi +J
i +i E xn xv |iMi 2012-13 E
E E E +vE E |l lx |{i + il =
=x Mx u {E |nx E M*

Our Bank was awarded Third Prize in Region C under

Reserve Bank Rajbhasha Shield Competition for the year
2011-12. The then Executive Director of the Bank, Shri Arun
Tiwari received the prize from the then Governor of Reserve
Bank of India Dr. D. Subbarao on 28th August, 2013 in a grand
ceremony held at Mumbai in Central Office of the Reserve
Bank of India. One officer of the Bank secured First Position
in linguistic group A in the All India Inter Bank Hindi Essay
Writing Competition 2012-13 organized by the Reserve Bank
of India and was awarded by the Governor, RBI in the same
ceremony.

E nx n V i E i ={-i u The 3rd Sub-committee of Committee of Parliament on Official

{lMg J, (.E. nnx) E J (.E. <n) Language inspected our Pithoragarh branch (Z. O. Dehradun),
Branch (Z. O. Allahabad) and Head Office during the
+ |vx E E xIh E M* n V i Karvi
year. The Drafting & Evidence Sub-committee of Committee
E +J B I ={-i x b E +nn of Parliament on Official Language also inspected our Zonal
+ Jx> E xIh E*
Office, Ahmedabad and Lucknow.
28. x vx E
28. HUMAN RESOURCES
E x VxH xVx, Yi vx, Ii xh, {nzi B The Bank continues to focus on overall development of its
E =zi, ] EhE ={ +n E v =x human assets through manpower planning, knowledge
capacity building, promotion & career progression,
+ +vE BEOSk + =i{nE xx i +{x x +i enrichment,
staff welfare measures etc. to make them focussed and
E O E { vx Epi Ex V J*
productive.
28.1 i + VxH
28.1 RECRUITMENT & MANPOWER MIX
+{x hxi{E +Ei+ E { Ex i E x +{x In order to meet the strategic needs of the Bank our Human
Vn VxH E Vi xx E B |h Mi x Resource Department has been constantly infusing new
i E * k 13-14 E n x E x E 3384 +vE/ recruits to the system to strengthen the existing manpower.
ES E i E V 1508 +vE (Y +vE During the financial year 13-14, total 3384 officers/employees
been recruited by the Bank, which includes 1508 officers
i), {E M 1876 M b +{] B E i have
(including specialist officers) and 1876 SWOs-A in clerical
* <E +iH k 2014-15 E nx 600 cadre. Further, we are in the process of recruiting 600 officers
+vE (Y +vE i), + 500 M b (including specialist officers) and 500 SWOs-A during the
+{] B E i E |G *
Financial year 2014-15.
28.2 THE MANPOWER MIX OF THE BANK IS AS UNDER:
28.2 E E VxH E li xxx :
h / Category
lli/ As on 31.3.2013
lli/ As on 31.03.2014
+vE / Officer
11407
12270
{E / Clerk
6829
8349
+vxl ] / Sub-staff
4321
3950
E VxH / Total Manpower
22557
24569
Vx / Out of which
+xSi Vi / Scheduled Castes
5827
6246
+xSi VxVi / Scheduled Tribes
1440
1669
+x {Uc M / Other Backward Class
2666
3406
/ Women
3293
4063
+x (B, {BS B BCBB) / Others (MC, PH & XSM)
1824
2082
|vx E + b E G: J {E +vE SC/ST and OBC Cells have been set up in Head Office and
B {E +vE E +iMi +V/+VV B + EI l{i Zonal Offices under the Chief Liaison Officer and Liaison
EB MB * +V, +VV B + ES E Ei E Officers respectively. Besides dealing with the grievances of
SC/ST and OBC employees of the Bank, they look after the
vx E + < v - { V E implementation of Government guidelines issued from time to
nxn E Exx E E nJi *
time in this regard.
23

|S |
E x ]Vx, b + S{j/{jE+ bM +n E
v ]{ |S +x S* E x +{x z
=i{n E {hx B <x E| xx i |S E*
30. +xM l B H =t
+E <xx . <n E E {h i +xM
E{x V E{] E , {Vx Ex, <
|vx, @h x, bS ]]{ + +b<]M E E
M < + Vx k 13-14 E nx `3.70 Ec E
nV E*
E E +i |vx E{x BB+< (<b) . +x E
+ k l+ E l 27.04% E <C] vi *
vh i E E H =t E{x x
{ Vx < E{x ]b <bx +V E,
Ex]E E ., b <x]] . V{x E{x { E
l 30% E <C] vi *

29. PUBLICITY ENDEAVOURS

The Bank has gone for nation-wide campaign on Television,
Radio, and Newspapers/Magazines, hoardings etc. Bank has
also made publicity for popularizing and marketing various
products of the Bank.
30. SUBSIDIARY & JOINT VENTURE
AllBank Finance Ltd., a wholly owned subsidiary of Allahabad
Bank, engaged in Corporate Advisory Services, Project
Appraisal, Issue Management, Loan Syndication, Debenture
Trusteeship and Underwriting, posted a profit of `3.70 Crore
during FY 13-14.

29.

The Bank holds 27.04% equity stake in Asset Management

Company ASREC (India) Ltd along with other Banks/
Institutions
The Bank holds 30% equity stake in joint venture company
Universal Sompo General Insurance Company Limited for
general insurance business along with Indian Overseas Bank,
Karnataka Bank Ltd., Dabur Investment Ltd. and Japanese
insurance major Sompo.
31. FUTURE PLANS

31.

VxB
E +x E EM Miv E +iH ] , @h
x, +n { vx Epi EM* k 14-15 i
E Vx Ij E + vx Epi E Vx , ]
r, +i Mhk v, @h x]M v OE
xx + Mi E Ex i <-b Sx E +vEi
={M Ex*
E n i E Vx x *
32. + B Sxi
vE i ] EM + EM =tM i
k + CE 2020 iE vE `40 ]x E {
E VBM*
+M + M + Oh VxJ i k
x, x< JB + B] JE il <-EM M
{` xE + BBB EM, <]x] EM il <
EM E {E |M E l |tME E {hi <i
Ex*
+x E E B c Sxi M x
vx |vx + +i Mhk +xIh B x]M*

The Bank will focus on Retail Business, Loan Syndication, etc

in addition to other core banking activities. Focus areas of
business for FY14-15 will be growth in Retail Business,
Improving Asset quality and improving credit Monitoring,
Customer acquisition and maximizing usage of e-delivery
channels to reduce costs.
The Bank is planning for overseas expansion.
32. OPPORTUNITIES & CHALLENGES:
Mortgages in the Retail banking opportunities in India is
the best opportunity for Banking industry as the mortgages
are to cross `40 trillion by 2020.
The next opportunity will be financial inclusion for both
urban & rural population, opening of branches & ATMs,
going into deep penetration with e-banking, making full
utilization of technology with massive use of SMS banking,
internet banking and mobile banking.
The foremost challenges to the Banks in next few years
will be Human Resources Management & asset quality
maintenance and monitoring.

xnE b-2014
k 13-14 E nx b + <E i E `E
E h xxx :
b/i

33.

33. BOARD OF DIRECTORS

The details of meetings of the Board and its Committees
held during the Financial Year13-14 are as under:

+Vi `E E J

Board/Committee(s)

xnE b/The Board of Directors

b E |vx i(B+)/The Management committee of the Board (MCBOB)
b E J {I i (B)/The Audit Committee of the Board (ACB)
xnE {nzi i(b{)/The Directors Promotion Committee (DPC)
vE / xE E Ei (xh) i(BBS+<V)
Shareholders / Investors Grievance committee ( SHIGC)
b E Sx |tME i/I T committee of the Board (I T-Comm)
vJvc xMx i/Fraud Monitoring Committee (FMC)
OE i/Customer Service Committee (CSC)
{v i/Remuneration Committee (Remu Comm)
VJ |vx i/Risk Management Committee (RMC)
xM B +]x i/Share Issue & Allotment Committee
@h +xnx i/Credit Approval Committee (CAC)
b E i/Recovery Committee of the Board (RCB)
b E xSx i/Election Committee of the Board (ECB)

24

Number of meetings held

17
21
10
04
02
03
09
04
02
04
02
32
07
03

 E ` x 12.03.2014 E E E +vI B |v
xnE E { {n Oh E* +{x ix xH
{ 01.01.2011 {V xx E E{E xnE
l*

Shri Rakesh Sethi, Chairman & Managing Director joined

the Bank on 12.03.2014. Prior to his present appointment
Shri Sethi was the Executive Director of Punjab National
Bank since 01.01.2011.

V. E. J x 23.01.2014 E E E E{E
xnE E { {n Oh E* +{x ix xH
{ nx E |vE l*

Shri Jal Karan Singh Kharb joined the Bank as Executive

Director on 23.01.2014. Prior to his present assignment
Shri Kharb was the General Manager of Dena Bank.

+V C B <. {. x 29.08.2013 E
G: +EE M E xnE + EM ES
xnE E { E Oh E*

Shri Ajay Shukla and Shri Y. P. Singh joined the Board as

Part-Time Non-Official Director and Workmen Employee
Director, respectively, on 29.08.2013.

V E x 18.12.2013 E xn JE h
E +iMi b +EE M-E xnE E {
E Oh E*

Shri Sanjeev Kumar Sharma joined the Board as

Part-Time Non-Official Director under Chartered
Accountant category w.e.f. 18.12.2013.

nx n, +EE M E xnE x 17.02.2014

E xnE b iM{j n

Shri Dinesh Dubey, Part Time Non-Official Director

resigned from the Board of Directors on 17.02.2014.

E nx i I {x, +vI B |v xnE

31.01.2014 E +{x EE { x { E xk
< + +h i, E{E xnE xx E +
<b +vI B |v xnE E xB nx EE
Oh Ex i nxE 26.12.2013 E EH B*

During the year Smt. Subhalakshmi Panse, Chairman &

Managing Director retired from the Bank after completion
of her tenure on 31.01.2014 & Shri Arun Tiwari, Executive
Director was relieved from the Bank on 26.12.2013 for
taking over his new assignment at Union Bank of India
as Chairman & Managing Director.

M n, EM ES xnE x 15.08.2013 E
b +{x EE { E*

Shri Gour Das, Workmen Employee Director on the Board

completed his tenure on 15.08.2013.

V B. Sin, xn JE h E +iMi +EE

M E xnE x 13.07.2013 E b +{x EE
{ E*

Shri Rajesh M. Chaturvedi, Part-Time Non-Official

Director under Chartered Accountant category on the
Board completed his tenure on 13.07.2013

34 +

34. ACKNOWLEDGEMENTS

xnE b E E vE/xE E =xE ii lx

+ Ih i vxn Y{i Ei * xnE b i
W E, i E il +x xE BV E |i =xE
B E Mnx il lx E B +{x
+ H Ei B =xE ii lx B M E Ex
Ei * E E |i OE u H EB MB ii +
E B xnE b =xE vxn Y{i Ei * xnE
b n SE n E Mnx E x Ei
+ xB {nvE E Mi Ei * xnE b E E
E |i =xE {i + E B x Y{i Ei *

The Board of Directors records its appreciation for continued

support and patronage of the shareholders/investors of the
Bank. The Board of Directors gratefully acknowledges the
valuable and timely advice, guidance and support from the
Reserve Bank of India, Government of India and other
regulatory agencies and look forward to their continued support
and co-operation. The Board of Directors is thankful to the
customers for their continued trust and confidence on the Bank.
The Board records its appreciation for valuable contributions
of the outgoing members and welcomes the new incumbents.
The Board of Directors is pleased to place on record their
appreciation for the committed services of all the employees
of the Bank.

xnE b E B + =xE + ,

For and on behalf of the Board of Directors,

nxE : 7 <, 2014

lx : EEi

(E `)
+vI B |v xnE

Date : 7th May, 2014

Place : Kolkata

25

(Rakesh Sethi)
Chairman & Managing Director

31.03.2014 E {i i
-III E Sx E +iMi i-III |E]Eh
h bB-1
|Vi

EM E E E x, V { Sx M <n E
(i) MhiE |E]Eh
B. Ex i S EB MB l+ E E S
C l
C l
Ex E
l E x/
Ex E
Ex E
Ex E
{ri E
xMx E n
{ri E
J x
xE
h n
h n
E +iMi
x E

+iMi
(/x)
/x
+E <x .

+xM

+xM
. x {
Vx <
E{x .

H =t
x
H =t
+E (<b) .

BB]

BB]

n Ex E
E BE x
E +iMi Ex
E M i
Eh {] E

Ex E
{ri +i
E Eh {]
E

+|V

+|V

+|V

+|V

+|V

+|V

. J + xE Ex E nx x+ E +iMi Ex i S x E M< l+ E E S
l E x/
xMx E n

<n {
Oh E

l E
Miv

E ix{j
E <C] E
<C] (vE bM E %
l E J
ix{j l
hi)

|Vi ++
6 Ec

35%

l E {VMi
Ji E E x
E xE |i{nx

E ix{j +i
(vE l E
J ix{j l
hi)

{V {{ii +x{i
E Mhx i {V
Ji P] M

`8892.33

(ii) {hiE |E]Eh

. Ex i S EB MB l+ E S
l E x/xMx E n (V
E >{ (*) E n M *)
+E <x .

l E Miv E ix{j <C] (vE l E ix{j +i (vE l

E J ix{j l hi)
E J ix{j l hi)
S] EM
`15 Ec
`62.34 Ec

b: +xM E{x {V Mi E E V Ex xE x x E M
l E x/xMx E n
l E Miv E ix{j <C] (vE l E <C] {V Mi
E J ix{j l hi)
E E vh %
+xM E< {VMi Mi x *
<: l+ E E E i E E (=nhl S ) V VJ i *
E <C]/ivE VJ i {ri x
l E x/
l E Miv
E ix{j <C]
xMx E n
(vE l E J E +x{i E E {h E]i {ri E |M
xE {V E
ix{j l hi) vh %
{hiE |
x { Vx
< E{x ]b

`350 Ec

30%

B: EM E +iMi xv E +ih +l xE {V { E< |iv +l v: x

26

x E iE
VJ

PILLAR III DISCLOSURE UNDER BASEL-III FRAMEWORK

FOR THE YEAR ENDED 31ST MARCH, 2014
Table DF 1
Scope of Application
Name of the head of the banking group to which the framework applies ALLAHABAD BANK
(I). Qualitative Disclosures
A: List of group entities considered for consolidation
Name of the entity /
Country of
incorporation

Whether the entity

is included under
accounting scope
of consolidation
(yes/no)

Explain the
method of
consolidation

Whether the
entity is included
under regulatory
scope of
consolidation
(yes/no)

Explain the
method of
consolidation

Explain the
reasons if
consolidated
under only one of
the scope of
consolidation

Explain the reasons

for difference in
method of
consolidation

AllBank Finance Ltd.

Universal
Sompo General
Insurance Company
Limited

Yes

Subsidiary

Yes

Subsidiary

NA

NA

Yes

Joint Venture

No

ASREC (India) Ltd.

Yes

Associate

No

Insurance Joint
Venture
Associate

NA
NA

NA
NA

B: List of group entities not considered for consolidation both under the accounting and regulatory scope of consolidation
Total balance sheet
Total balance sheet
Name of the entity /
Principle activity
% of banks
Regulatory treatment of
equity (as stated in
assets (as stated in
country of
of the entity
holding in the total
banks investments in the
the accounting
the accounting
incorporation
equity
capital instruments of the
balance sheet of the
balance sheet of
entity
legal entity)
the legal entity)
Allahabad UP
Deducted from Capital
Gramin Bank
Sponsored RRB
6 crore
35%
Instrument for calculation of
`8892.33
Capital Adequacy Ratio.
(II) Quantitative Disclosures
C: List of Group Entities Considered for Consolidation
Total balance sheet
Principle activity
Name of the entity /
Total balance sheet assets (as
equity (as stated in the
of the entity
country of incorporation
stated in the accounting balaccounting balance
(as indicated in (I) a.
ance sheet of the legal entity)
sheet of the legal entity)
above)
AllBank Finance Ltd.

`15 crore

Merchant Banking

`62.34 crore

D: The aggregate amount of capital deficiencies in all subsidiaries which are not included in the regulatory scope of
consolidation
Principle activity of
Total balance sheet equity (as stated in
% of banks holding in the total
Name of the
subsidiaries/ country of
the entity
the accounting balance sheet of the
equity Capital deficiencies
legal entity)
incorporation
There is no capital deficiency in the subsidiaries.
E: The aggregate amounts (e.g. current book value) of the banks total interests in insurance entities, which are riskweighted
Name of the insurance
entities/ country of
incorporation

Principle activity of Total balance sheet equity (as stated

in the accounting balance sheet of the
the entity
legal entity)

Quantitative impact of regulatory

capital of using risk weighting
methods versus using the full
deduction method
Universal Sompo General
Insurance
`350 crore
30%
Risk weight up to the value of
Insurance Company Limited
Investment.
F: Any restrictions or impediments on transfer of funds or regulatory capital within the banking group: NIL

27

% of banks holding in the

total equity / proportion of
voting power

h bB-2

{V Sx
MhiE |E]Eh

E VJ i +i +x{i (+B+) i xSi {V xB Jx i B E +|ii P]x+ E Eh x

x E VJ E {I MV< Jx E B xi { +{x {V +{I+ E Ex Ei V
ivE E i Ii E* E +{x Miv E S { Si Ex i +{Ii {V E I
E B E +v { {V xVx E E Ei *
E x i W E E nxn E +x +B+ E Mhx i i @h VJ E B xEEi o]Eh,
{SxMi VJ E B EiE o]Eh (+<B) + V VJ E B xEEi bx o]Eh E
+{x *

{hiE |E]Eh
( ` Ec )
G J
B
B1
B2

1
2
3
4
5

1
2
b
<
B
V
BS
+<

VJ E |E
@h VJ
+|ii {] i
|ii {] i
V VJ
V n VJ i
<C] VJ i
n p VJ i (h i)
Vx VJ i
+{x VJ i
{Sx VJ
EiE o]Eh
xEEi o]Eh n |V
E {V +{I
E VJ i +i
Z <C] ]-1
] 1
E {V
E {V +x{i

{V +{I
11129.90
11129.90
0.00
873.06
745.11
111.39
16.56
1009.50
1009.50
13012.46
144582.92
10633.83
10862.63
14401.90
9.96%

28

Table DF 2

CAPITAL STRUCTURE
Qualitative Disclosures
z

The Bank carries out regular assessment of its Capital requirements to maintain a comfortable Capital to Risk Weighted
Assets Ratio (CRAR) and to cushion against the risk of losses against any unforeseen events so as to protect the
interest of all stakeholders. The Bank carries out the exercise of Capital Planning on an annual basis to review the
review the capital required to carry out its activities smoothly in the future. Also, the Bank has well defined Internal
Capital Adequacy Assessment Process (ICAAP) to comprehensively address all risks and maintain necessary additional
capital.

The Bank has adopted Standardized Approach for Credit Risk, Basic Indicator Approach for Operational Risk and
Standardized Duration Approach for Market Risk for computing CRAR, as per the guidelines of RBI.

Quantitative Disclosures
(Amount ` in Crore)

S.No.

Types of Risk

Capital
Requirement

Credit Risk

11129.90

A1

For non-sec portfolio

11129.90

A2

For Securitized portfolio

Market Risk

873.06

B1

For Interest Rate Risk

745.11

B2

For Equity Risk

111.39

0.00

B3

For Forex Risk (including gold)

B4

For Commodities Risk

16.56

B5

For Options risk

Operational Risk

1009.50

C1

Basic Indicator Approach

1009.50

C2

Standardized Approach if applicable

Total Capital Requirement

Total Risk Weighted Assets

Common Equity Tier 1

10633.83

Tier 1

10862.63

Total Capital

14401.90

Total Capital Ratio

13012.46
144582.92

9.96%

29

h bB-3
@h VJ: x |E]Eh
@h VJ E v +{Ii x MhiE |E]Eh xxJi :
{U n + i E { (J |Vx i)
E i V E E x E {x Ei VE xxx
B. +xVE +i
{]]Ei +i i E< +i i +xVE Vi V E E B + Vi Ex n E ni *
@h +l +O +xVE +i V
I.
n @h E v V V +/+l vx E Ei 90 nx +vE +v i +in i *
II. +b}]/xEn @h (+b/) E v Ji 90 nx iE +xi i V E xS =Ji *
III. G EB MB + xB MB E 90 nx +vE iE +in i *
IV. +{v i vx E Ei +l = { V n iE +in i *
V.
nPv i vx E Ei +l = { V BE iE +in i *
VI. nxE 1 2006 E |iiEh v nxn E +x EB MB |iiEh xnx E v Cb] v E
90 nx +vE iE +in i *
VII. E E E Ji E E i Bx{B E { MEi Ex SB V E i E nx |i V i E +i nx
E +n {hi V x Vi*
VIII. +vi Sx/M +vi Sx {Vx i nB MB @h E E Eb E +x (90nx iE +in) hVE
{Sx + x { E E +v E nx Bx{B E { MEi E VBM V iE E < {xM`i x E M
+ xE +i E { MEi EB Vx i {j x M *
IX. +vi Sx {Vx i @h E Bx{B E { i MEi E VBM V b+ n E +v E +n
hVE {Sx Ex +J E +x xi V iE E < {xM`i x E M
+ xE +i E { MEi EB Vx i {j x M *
X. M +vi Sx {Vx i @h E Bx{B E { i MEi E VBM V b+ U E +v
E +n hVE {Sx Ex +J E +x xi V iE E < {xM`i x
E M + xE +i E { MEi EB Vx i {j x M *
. +xi(+=] + +b) li
E Ji E +xi i x Vi n E Mi Ei /+h +vE +vE x * =x V
{Sx Ji E Ei /+h +vE E ix{j E il 90 nx iE Mi E< V x +
+l V E M< = +v E nx x J M< E { Ex E B {{i x B Ji E +=] + +b x
Vi *
. +in
E @h v E +iMi E E n E< i +in Vi V E u xvi E M< +v E nx =E Mix x
E Vi*
b. +xVE x
|ii E v V V/vx E , E |ii { + E Mhx x i + x E B i Si
|vx Ei *
+xVE +O(Bx{B) E i +xVE x(Bx{+<) i V
I)
V/Ei ({{Ci +M i)n + 90 nx +vE iE +nk i *
II) +E {ix i +vx { M i V i E Mix x E Vi*
III) <C] E , i V E E +xn E +x xxi ix {j E +x{vi E Eh n E E{x E
x E .1 |i E{x i <x E Mhx Bx{+< E { E Vi *
IV) E E xMEi u |{i E< @h v Bx{B , = xMEi u V Ex |ii x Bx{+<+
i: i *
V) bS/b x, Vx +O { E x Vx , x { l|V Bx{+< xE E +vvx *

30

 {U n + i E { (J |Vx i)
x xn] il +b}] + +x @h vB {U n x VBM n:
1. OE E =v +vE
2. OE E =v E +v {i M< *
3. V +v i n + Mhx EB MB V E { Ex E B +{{i *
4. xE M
5. +l Ji n il E +n x E M*
MhiE o]Eh u I EB MB E @h + +O E xxx MEi E Vx SB*
{U n E nx E J
E
|vx
91-180
+xE
10%
181-270
nMv
50%
271 + +vE
xMi
100%
E E @h VJ |vx xi { SS
1. @h VJ |vx xi :
1.1 E E { b u vi +xni BE li @h VJ |vx xi * xi niV M]xiE Sx, E B ni
il |G+ E {i Ei VE v E E x @h VJ E {Sx, +Ex Ex nn i + =xE
|vx = Sx E +iMi E Vi V E +{x +vn B VJ xi E +x{ ={H Zi *
1.2 E u Ji @h VJ E xMx E Vi + b u +xni VJ +/BC{V E{ E +x{x E xSi
E Vi * +iE xjh |h E Mhk E xMx E Vi + @h VJ vi q E Ex i +iE
nIi Ei E Vi *
1.3 =k @h VJ |vx |h Ei Ex i E x i{h En =` * @h VJ |vx xi E +iH, E E { b
u +xni @h xi, x xi, n VJ |vx xi xi +n V @h VJ E xMx E +z +M * +
z xE +{I+ E { /+x vE |vE E x xnb, |lEi Ij xnb, + +Yx +
+i MEh nxn, {V {{ii, @h VJ |vx +n v nxn E n +x{x xSi Ei *
1.4 <E +iH E E @h VJ x + {E |ii |vx E v b u +xni xi V E E i E I
E B |ii + B |ii E |x E h xvi EB MB * |ii = @h VJ E r ={x E {
E Ei V E BC{Vb *
2. E E Sx B |h :
2.1 E VJ |vx |E E xMx + x i xnE b u VJ |vx i (+B) xE xnE E
={i E M`x E M *
2.2 @h xi i z @h VJ Exi xx + <xE Exx i il xi +v { E E VJ |vx E E
xMx i @h VJ |vx i E M`x E M *
3. @h Ex /+iE ]M :
3.1 E +{x @h VJ E |vx E =vEi B M i { VJ E ii {x B xMx E v Ei * E E {
BE H +iE Gb] ]M Sx + li xEEi @h Ex/+xnx |h *
3.2 +iE VJ ]M/ObM b |vx VJ vi {hiE B MhiE q, VJ, =tM VJ, k
VJ B {Vx VJ * <E +iH, < i E ]M =vEi E O ]M E Ex Ei ]
xnx i @h {vx ]i+ { S E Vi * V li E +v { =tM VJ E +Ec xi +tix E
Vi *
3.3 |iE =vEi E ]M E I E Vi * H @h VJ |vx |G E ={ E { E x |vx E i { Ei
@h |i i i Gb] ]M |G + b E/J i { Ei |i i Gb] ]M |G E ji
|h Exi E V @h M <i ]M E vi (i Sh) * E E |vx E E H E +iMi +x
|i E ]M E vi VJ |vx M u E Vi *
3.4 E @h E Ei i li -i Evx H Sx E +xh Ei * j u n M< E +x
b E B |vx E i { +xE i M`i E M< * b |J E +vIi VbB |/=|, VbB
| |vE E +vIi , BSB | |vE(@h) E +vIi , BSB Ex E{E xnE E +vIi +
B +|x E +vIi * xn] E]-+ +vE E xB @h |i { rii: +xnx |nx Ex i +vI B |v xnE
E +vIi |vx E i { x (BxV) xE Sx E M`x E M * E E { xB =i{n i VJ
|vx Sx V xB =i{n E v =xE { xxi |G/Ex xnb E xvi Ei *
31

(
{hiE |E]Eh
1. E E @h VJ BC{V, xv +vi B M-xv +vi
1.1 xv +vi
1.2 M-xv +vi
2. BC{V E ME ih
2.1 n :
2.1.1 xv +vi
2.1.2 M xv-+vi
2.2 P :
2.2.1 xv +vi
2.2.2 M xv-+vi
3 =tM { E BC{V E ih
xv +vi
4. +i E +] nMi {{Ci Eb=x
E]
+O
+M nx
1238.20
2-7 nx
1728.33
8-14 nx
1124.70
15-28 nx
2053.30
29 nx 3
8079.35
> 3 -6
8471.22
> 6 -1
14308.61
> 1 - 3
36927.42
> 3 - 5
19420.90
> 5
44654.55
5. Bx{B E (E)
5.1 +xE
5.2 nMv 1
5.3 nMv 2
5.4 nMv 3
5.5 xMi
6. x Bx{B
7. Bx{B +x{i
7.1 E +O E Bx{B
7.2 x +O x Bx{B
8. Bx{B E Sx (E)
8.1 +l
8.2 r
8.3 E
8.4 <i
9. Bx{B i |vx E Sx
9.1 +l
9.2 < +v E nx EB MB |vx
9.3 <] +
9.4 +iH |vx E <] E
9.5 <i
10. +xVE x E
11. +xVE x i EB MB |vx E
12. x E i |vx E Sx
12.1 +l
12.2 < +v E nx E M |vx
12.3 <] +
12.4 +iH |vx E <] E
12.5 <i
32

Ec )

157002
140905
16097
5812
61
135093
16036
78390.00
x
236.46
1473.63
0.27
298.17
4920.73
1845.61
1605.18
6682.84
14058.56
33226.4
8068.04
4330.41
2381.59
1208.27
65.91
81.86
5944.32
5.73%
4.15%
5136.99
6021.22
3090.17
8068.04
1004.41
2021.51
902.19
2123.73
21.41
7.81
0.90
6.91
7.81

Table DF 3
CREDIT RISK: GENERAL DISCLOSURE
The general qualitative disclosure requirement with respect to credit risk, including:
z

Definition of past due and impaired (for accounting purposes)

The Bank follows Reserve Bank of India regulations, which are summed up below.
a. Non-performing Assets
An asset, including a leased asset, becomes non-performing when it ceases to generate income for the bank.
A non-performing asset (NPA) is a loan or an advance where;
I.

Interest and/ or installment of principal remain overdue for a period of more than 90 days in respect of a term loan,

II. the account remains out of order for 90 days as indicated below, in respect of an Overdraft/Cash Credit (OD/CC),
III. The bill remains overdue for a period of more than 90 days in the case of bills purchased and discounted,
IV. The installment of principal or interest thereon remains overdue for two crop seasons for short duration crops,
V. The installment of principal or interest thereon remains overdue for one crop season for long duration crops.
VI. The amount of liquidity facility remains outstanding for more than 90 days, in respect of a securitization transaction
undertaken in terms of guidelines on securitization dated February 1, 2006.
VII. Bank should classify an account as NPA only if the interest charged during any quarter is not serviced fully within 90
days from the end of the quarter.
VIII. A loan for infrastructure/non-infrastructure project will be classified as NPA during any time before commencement of
commercial operations as per record of recovery (90 days overdue) unless it is restructured and becomes eligible for
classification as Standard Asset
IX. A loan for an infrastructure project will be classified as NPA if it fails to commence commercial operations within two
years from original DCCO, even if it is regular as per record of recovery, unless it is restructured and becomes eligible
for classification as Standard Asset
X. A loan for a non-infrastructure project will be classified as NPA if it fails to commence commercial operations within six
months from original DCCO, even if it is regular as per record of recovery, unless it is restructured and becomes
eligible for classification as Standard Asset
b. Out of Order status
An account is treated as out of order if the outstanding balance remains continuously in excess of the sanctioned limit/
drawing power. In cases where the outstanding balance in the principal operating account is less than the sanctioned limit/
drawing power, but there are no credits continuously for 90 days as on the date of Balance Sheet or credits are not enough to
cover the interest debited during the same period, these accounts are treated as out of order.
c. Overdue
Any amount due to the bank under any credit facility is overdue if it is not paid on the due date fixed by the bank.
d. Non Performing Investments
In respect of securities, where interest/ principal is in arrears, the Bank does not reckon income on the securities and makes
appropriate provisions for the depreciation in the value of the investment.
A non-performing investment (NPI), similar to a non-performing advance (NPA), is one where:
I.

Interest/ installment (including maturity proceeds) is due and remains unpaid for more than 90 days.

II. This applies mutatis-mutandis to preference shares where the fixed dividend is not paid.
III. In the case of equity shares, in the event the investment in the shares of any company is valued at Re.1 per company
on account of the non-availability of the latest balance sheet in accordance with the Reserve Bank of India instructions,
those equity shares are also reckoned as NPI.
IV. Any credit facility availed by the issuer is NPA in the books of the bank, investment in any of the securities issued by the
same issuer is treated as NPI and vice versa.
V. The investments in debentures / bonds, which are deemed to be in the nature of advance, are subjected to NPI norms
as applicable to investments.

33

Definitions of past due and impaired (for accounting purposes);

Overdrafts and other credit facilities without specific due dates shall be considered past due if:
1. Exceeds the customers borrowing limit.
2. Customers borrowing limit is expired.
3. Deposits are insufficient to cover the interest calculated and due for the period
4. Bill has been dishonored
5. Bill or account is not paid on due date
Loans which are payable in installments are considered as past due in their entirety. If any of the installments have become
due and unpaid after due date.
Outstanding Loans and advances reviewed by quantitative approach should be classified as follows:

No. of days Past Due

91-180
181-270
271 and More
z

Outstanding
Substandard
Doubtful
Loss

Provisions
10%
50%
100%

Discussion of the Banks Credit Risk Management Policy

1.

Credit Risk Management Policies:

1.1. The Bank has put in place a well-structured Credit Risk Management Policy duly approved by the Board. The
Policy document defines organizational structure, role and responsibilities and the processes whereby the Credit
Risks carried by the Bank can be identified, quantified, managed and controlled within the framework which the
Bank considers consistent with its mandate and risk tolerance limits.
1.2. Credit Risk is monitored by the Bank account wise and compliance with the risk limits / exposure cap approved by
the Board is ensured. The quality of internal control system is also monitored and in-house expertise has been built
up to tackle all the facets of Credit Risk.
1.3. The Bank has taken earnest steps to put in place best Credit Risk Management practices. In addition to Credit Risk
Management Policy, the Bank has also framed Board approved Lending Policy, Investment Policy, Country Risk
Management Policy, Recovery Policy etc. which form integral part in monitoring of credit risk and ensures compliance
with various regulatory requirements, more particularly in respect of Exposure norms, Priority Sector norms, Income
Recognition and Asset Classification guidelines, Capital Adequacy, Credit Risk Management guidelines etc. of
RBI/other Statutory Authorities.
1.4. Besides, the Bank has also put in place a Board approved policy on Credit Risk Mitigation & Collateral Management
which lays down the details of securities and administration of such securities to protect the interests of the Bank.
These securities act as mitigants against the credit risk to which the Bank is exposed.
2. Architecture and Systems of the Bank:
2.1. A Sub-Committee of Board of Directors termed as Risk Management Committee (RMC) has been constituted to
specifically oversee and co-ordinate Risk Management functions in the bank.
2.2. A Credit Risk Management Committee of executives has been set up to formulate and implement various credit
risk strategies including lending policy and to monitor Banks Risk Management functions on a regular basis.
3. Credit Appraisal / Internal Rating:
3.1. The Bank manages its credit risk through continuous measuring and monitoring of risks at each obligor (borrower)
and portfolio level. The Bank has robust internally developed credit risk grading / rating modules and well-established
credit appraisal / approval processes.
3.2. The internal risk rating / grading modules capture quantitative and qualitative issues relating to management risk,
business risk, industry risk, financial risk and project risk. Besides, such ratings consider transaction specific credit
enhancement features while assessing the overall rating of a borrower. The data on industry risk is constantly
updated based on market conditions.
3.3. The rating for every borrower is reviewed. As a measure of robust credit risk management practices, the bank has
implemented a three tier system of credit rating process for the loan proposals sanctioned at Head Office Level and
two tier system at Zonal Office/ Branch level which includes validation of rating independent of credit department.
For the proposals falling under the powers of Banks Head Office, the validation of ratings is done at Risk Management
Department.
3.4. The Bank follows a well defined multi layered discretionary power structure for sanction of loans. As advised by the
ministry various committees have been formed at ZO & HO Level. ZLCC AGM/DGM headed by Zonal Head, ZLCC
GM headed by GM, HLCC GM headed by GM (Credit), HLCC ED headed by ED( Executive Director) & CAC
headed by CMD. A structure named New Business Group (NBG) headed by CMD has been constituted at Head
Office level for considering in-principle approval for taking up fresh credit proposals above a specified cut-off point.
The Bank has put in place a risk management framework for new products which lay down minimum processing /
assessment norms to assess risk in a New Product prior to its introduction.

34

(Amount ` in Crore)
Quantitative Disclosures
1. Total gross credit risk exposures, Fund based and Non-fund based

157002

1.1 Fund Based

1.2 Non Fund Based
2. Geographic distribution of exposures
2.1 Overseas
2.1.1 Fund Based
2.1.2 Non Fund Based
2.2 Domestic
2.2.1 Fund Based
2.2.2 Non Fund Based
3. Industry type distribution of exposures
Fund based
4. Residual Contractual maturity breakdown of assets

140905
16097

5812
61
135093
16036
78390

Buckets

Advances

Next day
2 7 days
8 14 days
15 28 days
29 days 3 months
>3 months 6 months
> 6months 1 year
>1 year 3 years
> 3 years 5 years
> 5 years

1238.20
1728.33
1124.70
2053.30
8079.35
8471.22
14308.61
36927.42
19420.90
44654.55

Amount of NPAs (Gross)

5.1 Substandard
5.2 Doubtful 1
5.3 Doubtful 2
5.4 Doubtful 3
5.5 Loss
6 Net NPAs
7 NPA Ratios
7.1 Gross NPAs to gross advances
7.2 Net NPAs to net advances
8 Movement of NPAs (Gross)
8.1 Opening balance
8.2 Additions
8.3 Reductions
8.4 Closing balance
9 Movement of provisions for NPAs
9.1 Opening balance
9.2 Provisions made during the period
9.3 Write-off
9.4 Write-back of excess provisions
9.5 Closing Balance
10 Amount of Non-Performing Investments
11 Amount of provisions held for non-performing investments
12 Movement of provisions for depreciation on investments
12.1 Opening balance
12.2 Provisions made during the period
12.3 Write-off
12.4 Write-back of excess provisions
12.5 Closing balance

35

Investments
236.46
1473.63
0.27
298.17
4920.73
1845.61
1605.18
6682.84
14058.56
33226.4
8068.04
4330.41
2381.59
1208.27
65.91
81.86
5944.32
5.73%
4.15%
5136.99
6021.22
3090.17
8068.04
1004.41
2021.51
902.19
2123.73
21.41
7.81
0.90
6.91
7.81

h bB-4

@h VJ: xEEi o]Eh E +vvx {] E |E]Eh

MhiE |E]Eh

xEEi o]Eh E +iMi E E u +xni BE( @h ]M BV) E ]M E Ei V

E, G, S(i), <E, (BB< ]M BV + <b .)* n @h BC{V i E ]bb Bb {+,
bV + S E ]M E Ei *

E E{]/ {B< =vEi+ E <+B ]M |{i Ex E B |ix ni + V ]M ={v

E x VJ i +i E Mhx i <x ]M E |M E *xEEi o]Eh (]b +x]b) E +vx
VJ ={x E n xxJi ix |J VJ xxx :

{hiE |E]Eh
VJ { +vi E @h VJ BC{V(xv +vi B M-xv +vi) E h- 31 S 2014 E lli
( ` Ec )
G
VJ
xvE
M xvE
1
100% E VJ
38977.62
5884.99
2
100% VJ
35966.96
2430.55
3
100% +vE VJ
31133.46
1986.86
4
{VMi xv E]i
36.67
-

36

Table DF 4
Credit Risk: Disclosures for portfolios subject to the standardized approach
Quantitative Disclosures
z

Under Standardized Approach the Bank accepts rating of all RBI approved ECRA (External Credit Rating Agency)
namely CARE, CRISIL, India Ratings, ICRA, SMERA and Brickwork India Pvt Ltd for domestic credit exposures.
For overseas credit exposures the bank accepts rating of Standard & Poor, Moodys and Fitch.

The Bank encourages Corporate and Public Sector Entity (PSE) borrowers to solicit credit ratings from ECRA and
has used these ratings for calculating risk weighted assets wherever such ratings are available. The exposure
amounts after risk mitigation subject to Standardized Approach (rated and unrated) in the following three major risk
buckets are as under:

Quantitative Disclosures
Details of Gross Credit Risk Exposure (Fund based and Non-fund based) based on Risk-Weight Position as on
31 March, 2014
(Amount ` in Crore)
Sl.

Risk Weight

Funded

Non Funded

No.
1

Below 100% risk weight

38977.62

5884.99

100% risk weight

35966.96

2430.55

More than 100% risk weight

31133.46

1986.86

Deduction from capital funds

36.67

37

h bB-5
@h VJ x: xEEi o]Eh i |E]Eh
MhiE |E]Eh
1.

2.

3.
4.

5.

6.

E +{x =vEi+ E EB MB BC{V (xv +vi B M-xv +vi) E Ii Jx i z |E E

|ii (Vx {E E { {i E V Ei ) |{i Ei * VJ x i E u xi
={M EB Vx {E k {E (+li E V , E/bE |ii, Vx {, h
+h, S+ b x] +n), z h E S + +S +i/ {k +n i *
V HMi/E{] M] +{Ii i , =vEi E{x/E{] E }M{ O{ E{x Jx
E |J n E M] E i n Vi * xSi E Vi E =xE +xxi x {k =xE
M]Ei xx E B {{i *
xE +{I+ E +x{ E x b u vi +xni {E |vx B @h VJ {x E v BE
{] xi +{x< *
i V E E xnx E x xEEi o]Eh E ii @h VJ {x E v BE {E o]Eh
+{x VE ii |ii xi iE x] E | { E Ei B x] E n |ii
(|lE B {E) E {h Vx E +xi n M< * < |E @h VJ {V E {Ex @h x] E
E Ex i {j k x] E {h ={M E Vi * < |E E x < v i W E E
nxn E +x{ <x ] |ii E +Yi E : (B) E V () Vx {
() BxB/E{ (b) E |ii>
<E +iH, @h VJ {x E +x +xni { : +x ] x]M + {j M] E ={vi*
i W E E nxn E +x =vEi E n M @h/ +O E {I ={v V E iE
(x] E iE) +x ] x]M E +Yi E M* <E +iH, @h VJ {V E {Ex i
i W E E nxn E +x {x B M VJ i <x M] E { E Vi : (B) Exp
E E M] (0%), () V E (20%) () V]BB< (0%) (b) <V (20%) (<) J {j E ii
G EB MB/xB MB E { M] (20% n E E ]M E +x )*
x i {j |E E |ii k |ii E { +x n Vi * < |E E u +Yi @h
VJ x |G Exph VJ E xEh i E< /=SSi xvi x E M< *
{hiE |E]Eh
(

B.

Ec )

{lE { |E]Ei |iE @h VJ M i, E BC{V (V |V

+x +l + ] E x]M E {Si) V E]i E {Si, {j k
{E { Ii

36625.31

{lE { |E]Ei |iE @h VJ M i, E BC{V (V |V

+x +l + ] E x]M E {Si) V M]/Gb] b<] u
Ii (V E E u { +xi n M< )

34474.84

h bB-6
|iiEh: xEEi o]Eh i |E]Eh MhiE |E]Eh
E/ E E< |iiEh BC{V x *
38

Table DF 5
Credit Risk Mitigation: Disclosures for Standardized Approaches
Quantitative Disclosures
1.

2.

Bank obtains various types of securities (which may also be termed as collaterals) to secure the exposures (Fund based
as well as Non-Fund based) on its borrowers. The collaterals commonly used by the Bank as the risk mitigants comprise
of the financial collaterals (i.e., Bank deposits, govt./postal securities, life insurance policies, gold jewellery, units of
mutual funds etc.), various categories of movable and immovable assets/landed properties etc.
Where personal/corporate guarantee is considered necessary, the guarantee is preferably that of the principal members
of the group holding shares in the borrowing company/ flagship Group Company of corporate. It is ensured that their
estimated net worth is substantial enough for them to stand as guarantors.

3.

In line with the regulatory requirements, the Bank has put in place a well-articulated Policy on Credit Risk Mitigation and
Collateral Management duly approved by the Banks Board.

4.

As advised by RBI, the Bank has adopted the comprehensive approach relating to credit risk mitigation under Standardized
Approach, which allows fuller offset of eligible securities against exposures, by effectively reducing the exposure amount
by the value ascribed to the securities. Thus the eligible financial collaterals have been used to reduce the credit
exposure in computation of credit risk capital. In doing so, the Bank has recognised specific securities namely (a) Bank
Deposits (b) Life Insurance Policies (c) NSCs / KVPs (d) Government Securities, in line with the RBI guidelines on the
matter.

5.

Besides, other approved forms of credit risk mitigation are On Balance Sheet Netting and availability of Eligible
Guarantees. On balance sheet netting has been reckoned to the extent of the deposits available against the loans/
advances of the borrower (to the extent of exposure) as per the RBI guidelines. Further, in computation of credit risk
capital, the types of guarantees recognized for mitigation and applicable Risk Weights, in line with RBI Guidelines are
(a) Central Government Guarantee (0%) (b) State Government (20%) (c) CGTMSE (0%) (d) ECGC (20%) (e) Bank
guarantee in form of bills purchased/discounted under Letter of Credit (20% or as per rating of foreign Banks).

6.

All types of securities eligible for mitigation are easily realizable financial securities. As such, presently no limit/ceiling
has been prescribed to address the concentration risk in credit risk mitigants recognized by the Bank.

Quantitative Disclosures
(Amount ` in Crores)
(a)

(b)

For each separately disclosed credit risk portfolio the total exposure (after, where applicable, onor off balance sheet netting) that is covered by eligible financial collateral after the application
of haircuts.

36625.31

For each separately disclosed portfolio the total exposure (after, where applicable, on or off-balance
sheet netting) that is covered by guarantees/credit derivatives (whenever specifically permitted by
RBI)

34474.84

Table DF 6
Securitisation : Disclosure for Standardised Approach Qualitative Disclosures
The Bank/Group does not have any securitization exposure.

39

h bB-7

@h VJ x: { V VJ
MhiE |E]Eh
1.

2.

3.

4.

5.

6.

V VJ E V n, n p x n, <C] + {h i+ E V V E =i-Sg
{ix/Sx =i{z li E Eh E E x x E x E { {i E Vi * V VJ
E E BC{V (BBB + BSB] h) P x (V v Ji B <C]), n
p x li =i{z i * V VJ |vx E =q +M B <C] { x E | E E Ex*
E EM V VJ |vx i x, n p {Sx, C E] ]bM b<], +i ni |vx
B ix {Ih v b u +xni xi * xi xSi Ei E l + |ii, <C],
n p + b<] {Sx og {{] + Vn xE nxn E +x Si E
Vi *
E ii VJ E {x, x]M + |vx i xEn | o]Eh il ]E o]Eh E ={M Ei *
xEn | o]Eh E +iMi z E +iMi i E h x E l E Vi * ]E
o]Eh E +iMi z +x{i l E V/E +i, +l +i/+l niB +n E Mhx E Vi
+ BBB xi xn] x E {I =E h E Vi * V E +{Ii i +E/b
E xnx viE ={ EB Vi * E x n {li E +iMi E E +xxE ii li E
xvh i +EE xvx Vx E |G +{x< *
n n +i B ni+ E VB{ h E v V n VJ E |vi E Vi + xvi xEEi
+ E v =xE xMx E Vi * E +{v +li 1 iE +{x x V + { V n VJ
E | E xvh Ex E B {{E +i h (]VB) E |M Ei * <C]/x {k E V
E v V n {ix E nPv | E xvh Ex E B E bx M{ Bx (bVB) E |M Ei
*
E x V VJ E {x, x]M + |vx i z B i E * b <] ], +x<] ], BOM]
M{ ], B+ ], b <V ], E=] {] ], <]] <V ], b<V ], ]{ ]
+n* <x + E nxE +v { x]M E Vi + |vx E {]M Ex E |h Vn *
E x V VJ { {V | E Mhx i u lxvi xEEi +v o]Eh E +{x *

{hiE |E]Eh
( ` Ec )
1.

V VJ i E {V +EiB

873.06

1.1

V n VJ

745.11

1.2

<C] li VJ

111.39

1.3

n x VJ

16.56

40

Table DF 7
Market Risk in Trading Book
Quantitative Disclosures
1.

Market Risk is defined as the possibility of loss caused by changes/movements in the market variables such as
interest rates, foreign currency exchange rates, equity prices and commodity prices. Banks exposure to Market risk
arises from investments (interest related instruments and equities) in trading book (both AFS and HFT categories)
and the Foreign Exchange positions. The objective of the market risk management is to minimize the impact of
losses on earnings and equity.

2.

The Bank has put in place Board approved Policies on Investments, Foreign Exchange Operations, Trading in Forex
Market, Derivatives, Asset Liability Management and Stress Testing for effective management of market risk. The
policies ensure that operations in fixed income securities, equities, foreign exchange and derivatives are conducted
in accordance with sound business practices and as per extant regulatory guidelines.

3.

Bank uses Cash-flow Approach and Stock Approach for measuring, monitoring and managing Liquidity Risk. Under
cash flow approach, mismatches under various time buckets are analyzed vis--vis tolerance limits. Under stock
approach, various ratios like Core Deposits/Total Assets, Temporary Assets/Volatile Liabilities, etc. are calculated
and analyzed against tolerance limits specified in the ALM Policy. Appropriate corrective measures, wherever required
are taken as per directives of ALCO / Board. The Bank has also put in place mechanism for Contingency Funding
Plan to assess the projected liquidity position of the Bank under stressed scenarios.

4.

Interest Rate Risk is managed through use of Gap analysis of rate sensitive assets and liabilities and monitored
through prudential tolerance limits. Bank uses Traditional Gap Analysis (TGA) for assessing the impact of Interest
Rate Risk on its Net Interest Income over a short term i.e. upto 1 year. For assessing long term impact of interest rate
changes on Market Value of Equity / Net Worth, Duration Gap Analysis (DGA) is carried out.

5.

The Bank has put in place various limits to measure, monitor and manage market risk. Day Light Limits, Overnight
Limits, Aggregate Gap Limits, VaR Limit, Deal Size Limits, Counterparty Limits, Instrument-wise Limits, Dealer-wise
limits, Stop Loss Limits etc. The limits are monitored on daily basis and a reporting system to the top management is
in place.

6.

The Bank has adopted Standardized Duration Approach as prescribed by RBI for computation of capital charge for
Market Risk.

Quantitative Disclosures
(Amount ` in Crore)
1

The total capital requirements for Market Risk

873.06

1.1 Interest rate risk

745.11

1.2 Equity position risk

111.39

1.3 Foreign exchange risk

16.56

41

h bB-8

{Sx VJ
MhiE |E]Eh
1. {Sx VJ ii{, +{{i + +iE |G+, H |v P]x+ E Eh x
x E VJ * {SxMi VJ Exx VJ {xi hxiE |i`Mi VJ x *
2. E x b u +xni { {SxMi VJ |vx xi x{i E * {SxMi VJ E |vx Vc <
b u +MEi +x xi : (B) +x{x VJ |vx xi () n p VJ |vx xi () +{x OE
E Vx (E<) + Bx] x xbM (BBB) vi xiMi niV (b) Sx |tME xii
B +{n xh Vx (<) vJvc VJ |vx xi +n*
3. E u +MEi {SxMi VJ |vx xi M`xiE Sx B {SxMi VJ E |vx i
|G+ E {] E M * < xi E =q {SxMi VJ E | { xji, {i, +Yi,
Ei B Sxi Ex + iE {SxMi x i {SxMi VJ E { {]M i ni E
{] xnx E u E E nx-|inx E VJ |vx |G {SxMi VJ |h E BEEi Ex *
E x {SxMi VJ E {E B r, +iE xjE E E v |vi E *
4. E u V +i nxn E +x E x {SxMi VJ i {V E +Ex E B EiE
n]Eh E +{x *
5. nxn E +x {SxMi VJ i {V, i W E u l{i Mi 3 E vxiE E
E + E 15 |ii E * inx lli 31.03.2014 E {SxMi VJ i {V +{I `1009.50
Ec *

42

Table DF 8
Operational Risk
Quantitative Disclosures
1.

Operational Risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from
external events. Operational risk includes legal risk but excludes strategic and reputation risks.

2.

The Bank has framed Operational Risk Management Policy duly approved by the Board. Supporting policies adopted
by the Board which deal with management of various areas of operational risk are (a) Compliance Risk Management
Policy (b) Forex Risk Management Policy (c) Policy Document on Know Your Customers (KYC) and Anti Money Laundering
(AML) Procedures (d) Business Continuity and Disaster Recovery Policy (e) Fraud Risk Management Policy etc.

3.

The Operational Risk Management Policy adopted by the Bank outlines organization structure and detailed processes
for management of operational risk. The basic objective of the policy is to closely integrate operational risk management
system into the day-to-day risk management processes of the Bank by clearly assigning roles for effectively identifying,
assessing, monitoring and controlling / mitigating operational risks and by timely reporting of operational risk exposures,
including material operational losses. Operational risks in the Bank are managed through comprehensive and well
articulated internal control frameworks.

4.

In line with the final guidelines issued by RBI, the Bank has adopted the Basic Indicator Approach for computing capital
for Operational Risk.

5.

As per the guidelines, the capital for operational risk is equal to 15% of average positive annual Gross Income of
previous three years as defined by RBI. Accordingly, the capital requirement for operational risk as on 31.03.2014 is
` 1009.50 Crores.

43

h bB-9

EM V n VJ (+<+<+)
MhiE |E]Eh
1. V n VJ, VJ E B li V V V n {ix E E k li |i Ei *
V n {ix E iiE | E E +Vx +li x V + (Bx+<+<) { {ci * V n {ix
E nvv | E E <C] E V (B<) +l x {k { {ci CE E E +i, ni+
+ ix{j li E +lE V V n +i +x |i i *
2. + { | (Vx o]Eh) E {{Mi +i h E ={M E v { Vi V n n ni+
+ n n +i (ix{j li i) E S i E z +i { E n M< iJ E {i
* Bx+<+< { V n VJ E E E BBB { lxvi BE z E v 100,200,300
{B E +xxE n Mi B xvi E Vi *
3. E x +lE {|I +{x ix {j V n VJ E {x i bx M{ Bx E +{x * E /
b u xvi x {{Ci, E{x + +M {] E ={M Ei B n n ni+ + +i E E]
vi +v E Mhx Ei * vi +v +i E Mhx E n n +i + ni+ E i +i
vi +v E Vi x {k { V n {ix E | E h 100,200 + 300 {B E
+xxE V n E E Mi B E Vi *
4. V n VJ E h + {]M E u E +v { E Vi *

{hiE |E]Eh
( ` Ec )
1.
2.

V n {ix
1.00%
V n {ix

VJ { +Vx (Bx+<+<)
117.23

VJ { <C] E +lE (x]l)

1.00%

768.25

44

Table DF 9
Interest Rate Risk in the Banking Book (IRRBB)
Quantitative Disclosures
1.

Interest Rate Risk is the risk where changes in market interest rates might adversely affect a Banks financial condition.
The immediate impact of changes in interest rates is on Banks earnings i.e.
Net Interest Income (NII). A long -term impact of changing interest rates is on Banks Market Value of Equity (MVE) or Net
Worth as the economic value of Banks assets, liabilities and off-balance sheet positions get affected due to variation in
market interest rates.

2.

The impact on income (Earnings perspective) is measured through use of Traditional Gap analysis, which measures
mismatch between rate sensitive liabilities and rate sensitive assets (including off-balance sheet positions) over different time intervals, as at a given date. The impact of interest rate risk on NII is assessed by applying notional rate shock
of 100,200 & 300 bps on gaps in various time bucket up to a period of one year as prescribed in Banks ALM Policy.

3.

The Bank has adopted Duration Gap Analysis (DGA) to measure interest rate risk in its balance sheet from the economic
value perspective. The Bank computes bucket-wise Modified Duration of Rate sensitive Liabilities and Assets using the
suggested common maturity, coupon and yield parameters, prescribed by RBI/BOARD The modified Duration Gap is
computed from weighted average modified duration of total rate sensitive assets and rate sensitive liabilities. The impact
of change in interest rate on net worth is analyzed by applying a notional interest rate shock of 100, 200 & 300 bps.

4.

The analysis & reporting of Interest rate risk is done by the Bank on a monthly basis.

Quantitative Disclosures
(Amount ` in Crore)
1.

Change in Interest Rate

1.00%

Earnings at Risk (NII)

117.23

2.

Change in Interest Rate

Economic Value of Equity at Risk (Net Worth)

1.00%

768.25

45

h bB-10

|i{I @h VJ vi BC{V E x |E]Eh

MhiE |E]Eh
|i{I @h VJ B VJ V E k n |i{I n E {i { SE Ei B n
E +x Mix x Ei * E +-n-E=] (+]) b<] B |ii k{h xnx (BB])
|i{I @h VJ E +vvx *
E x { ]bM E |Vx E l-l VM VJ i b<] =i{n E ={M Ei V
V n + n p VJ * b<] {Sx E VJ |vx E nJJ ` E{E E nJJ
i V ij { E Ei B |vx E {] Ei *
E E { b<] E { n n E l-l V n { *
b<] nxE +v { V E E Vi B xvi E {x E Vi *
VJ E {]M + x]M E Si |h *

{hiE |E]Eh
(
1
2
3
4
5

n+ E E vxiE
E x
x S @h x
vi {E
x b<] @h BC{V

Ec )

1454.51
0.00
1454.51
0.00
145.51

xx

S @h BC{V
vxiE B]B

G < V n {

n n E

0.00

50.00

BE < V n {

500

V n }S

@h SE {

E +{x

54635.15

1454.51

2454.97

55135.15

1454.51

2504.97

46

E @h BC{V

Table DF 10
General Disclosure for Exposures Related to Counterparty Credit Risk
Quantitative Disclosures
Counterparty Credit risk is the risk that the counterparty to a financial contract will default prior to the expiration of

the contract and will not make all the payments required by the contract. Only the Over-the-Counter (OTC) derivatives
and Security financing transactions (SFTs) are subject to counterparty credit risk.
The Bank uses derivative products in the normal course of business for trading purposes as well as hedging risk

which includes interest rate and foreign currency risk. The risk management of derivative operation is headed by a
senior executive, who reports to top management, independent of the line functions.
z

The Bank has forward contracts as well as Interest Rate Swaps as derivatives.

Derivatives are marked to market on daily basis and the limit prescribed is adhered to.
Proper system for reporting and monitoring of risks is in place.

Quantitative Disclosures
(Amount ` in Crore)
1.

Gross positive value of contracts

2.

Netting Benefits

3.

Netted current credit exposure

4.
5.

collateral held
Net derivative credit exposure

Item

1454.51
0.00
1454.51
0.00
145.51

Notional Amount

Current Credit

Total Credit

Exposure

Exposure

(positive MTM)
Cross CCY Interest Rate Swaps

Forward rate agreements

0.00

50.00

500

Single CCY interest Rate Swaps

Interest rate future
Credit default swaps
Currency options
Total

54635.15

1454.51

2454.97

55135.15

1454.51

2504.97

47

h bB - 11

{V E M`x
h

x <C] ] 1 {V : Ji B +Ii
1
|iI { V x {V + vi ]E +v (
|)
2
|ivi ={Vx
3
Si +x O + (B +x +Ii)

III { ={S E
+vvx

B 1+ B 2
B3
1 + 2
+ 3 + 4

26961.05
3630.21
77428.11

|iI { V {V, <]1 V +>] E +vvx

(E M-H ]E E{x { |V)
1 Vx, 2018 iE VxE Ij i |{i x {V
5
+xM u V B ii {I u J M< x {V
( <]1 +xi)
6
xE Vx { x <C] ] 1 {V
108019.37
x <C] ] 1 {V : xE Vx
7
E{h Ex Vx
0.00
Mb (vi E ni E x)
0.00
8
9
vE-M +vE E UcE +x +i +i
(vi E ni E x)
0.00
0.00
10 +lMi E +i
11 xEn-| V +Ii
0.00
12 |ii x E v |vx E E
0.00
0.00
13 G { |iiEh
14 =Si ni+ { xV @h VJ {ix E {h{
B x
0.00
0.00
15 {i- {x xv x +i
16 +{x x (+M |ini ix{j |nk {V {
Vi x E M< )
0.00
17 x <C] {{E G-bM
40.76
18 EM, k + l+,V E Ex E MV<
x,{j +{ li E x, V E E V {V
E 10% +vE x (xxi 10% +vE E )
0.00
19 EM, k + l+,V E Ex E MV<
|J x,{j +{ li E x, V E E V
{V E 10% +vE x (xxi 10% +vE E )
0.00
20 vE M +vE (xxi 10% +vE E )
0.00
21 +l< +i =i{z +lMi E +i (xxi 10% +vE E vi E ni E x)
0.00
22 xxi 15% +vE E
0.00
23 V : x k ]E |J x
0.00
24 V : vE M +vE
0.00
25 V : +l +i =i{z +li E +i
0.00
26 ] ] xE Vx (26B+26+26+26b)
1493.60
26B V : +Ei M-k +xM E <C] {V x
0.00
26 V : +Ei M-k +xM E <C] {V x
26 V : vEEi B k l+ {V E
E V E E l Ei x *
4

48

x )
n .

(`

101.90

0.00

(`

26b

V : +{vi {x xv
1493.60
x <C] ] I { EB MB xE Vx
III { |i{nx E +vx E E v
0.00
V : +Ei M-k +xM E <C] {V x
146.70
27 E]i E E Ex i +{{i +iH ] 1 B ] 2 E Eh x
<C] ] I EB MB E Vx
0.00
28 x ] I { EB MB E xE Vx
1681.06
29 x <C] ] I {V (<] I)
106338.31
+iH ] I {V : Ji
30 |iIi: V {j +iH ] I Ji + vi ]E (31+ 32)
0.00
31 V : |V J xE E +iMi <C] E { MEi
(n +S +vxi )
0.00
32 V : |V J xE E +iMi ni+ E { MEi
(MEi @h Ji )
0.00
33 |iI { V {V Ji i +iH ] I M
2400.00
+xM u V B ii {I (O{ B]1 +xi ) u J M<
+iH ]-I E Ji (+ {H 5 x E M< <]1
E Ji )
0.00
35 V : +xM u V Ji i =xE {i M
0.00
36 xE Vx { +iH ]-I {V
2400.00
+iH ]-I {V : xE Vx
37 xV +iH ]-I Ji x
0.00
38 +iH ]-I Ji +{ |ivi
2.00
39 EM, k + l+,V E Ex E MV<
x,{j +{ li E x, V E E V {V E
10% +vE x (xxi 10% +vE E )
0.00
40 EM, k + l+,V E Ex E MV<
|J x( {j +vG E li )
0.00
41 ] ] xE Vx (41B + 41 + 41)
110.02
41B +Ei +xM E +iH ] I {V x
0.00
41 vEEi B k l+ E +iH ] I
E V E E l Ei x *
110.02
-III { |i{nx E +vx E E v
] I E { EB MB xE Vx
0.00
41 V : +Ei M-k +xM E <C] {V x
110.02
42 E]i E E Ex i +{{i +iH ] 1 B ] 2 E
Eh x <C] ] I EB MB E Vx
0.00
43 +iH ] I {V EB MB E xE Vx
112.02
44 +iH ] I {V (B]2)
2287.98
44B {V {{ii E B B MB +iH ] I {V
2287.98
45 ] I {V (] 1= <]2 + B]1) ({H 29 + {H 44 B)
108626.29
] 2 {V : Ji + +Ii
46 |iIi: V {j +iH ] I Ji + vi ]E
0.00
47 |iI { V {V Ji i +iH ] 2 M
21947.60

x )

1493.60

366.75

3000.00

34

49

5.00

366.75

34119.00

2+ 3

(`

+xM u V B ii {I (O{ B]1<C] +xi ) J

M< +iH ] 2 E Ji (+ {H 5 x E M< <]2
E Ji )
0.00
49 V : +xM u V Ji i =xE {i M
0.00
50 |vx
13642.40
51 xE Vx { +iH ] 2 {V
35590.00
] 2 {V : xE Vx
52 E +iH ] 2 Ji x
0.00
53 +iH ] 2 Ji +{ |ivi
87.30
54 EM, k + l+,V E Ex E MV<
x,{j +{ li E x, V E E V {V E
10% +vE x (xxi 10% +vE E )
0.00
55 EM, k + l+,V E Ex E MV<
|J x({j +vG E li )
0.00
56 ] ] xE Vx (56B + 56)
110.02
56B V :+Ei +xM E +iH ] II {V x
0.00
56 vEEi B k l+ E +iH ] I E E V
E E l Ei x *
0.00
III { |i{nx E +vx E E v
] 2 E { EB MB xE Vx
0.00
56 V : +Ei M-k +xM E <C] {V x
110.02
57 +iH ] 2 {V EB MB E Vx
197.33
58 +iH ] 2 {V (]2)
35392.68
58B {V {{ii E B B MB +iH ] 2 {V
35392.68
58 ] 2 {V E { B MB +iH ] 1 {V
0.00
58 {V {{ii E B +xi E ] 2 {V. (58 B +58 )
35392.68
59 E {V (] = ]1 + ] 2) (45+58)
144018.97
{- III E +vvx E v VJ i +i
60 VJ i E +i (60B + 60 +60)
1445829.21
60B V : VJ i E +i
1236655.84
60 V : V VJ i E +i
97007.09
60 V : {SxMi VJ i E +i
112166.28
{V +x{i
61 x <C] ] I (VJ i +i E |ii E { )
7.35%
62 ] I (VJ i +i E |ii E { )
7.51%
63 E {V (VJ i +i E |ii E { )
9.96%
64 l E +Ei (xxi <]1 +Ei + {V
Exx il |i SG +EiB V VJ i +i
E { H E M<
4.50%
65 V : {V Exx +Ei
0.00%
66 V : E ] |iSG +Ei
67 V : V-B+< +Ei
68 { Ex i ={v x <C] ] (VJ i +i E
|ii E { )
4.50%
] x (n III z )
69 ] x <C] ]-I xxi +x{i (n III z )
5.50%

x )

48

50

b1+ b2

218.26

366.75

(`

70 ]
71 ]

x <C] ]-I xxi +x{i (n III z )

E {V xxi +x{i (n III xxi z )
E]i E B E (VJ {)
72 +x k M i{h {V x
73 k E ]E ] x
74 vE M +vE (vi E ni E x))
75 +l< +i =i{z +lMi E +i (vi E ni E x)
] 2 |vx Ex { |V =SSi
76 BC{V E v ]-II Ex i {j |vx i
xEEi o]Eh E +vx (=SSi M Ex {)
77 xEEi o]Eh E +iMi ]-II |vx Ex E
78 BC{V E v ]-II Ex i {j |vx i
+iE ]M +vi o]Eh { ( =SSi M Ex {)
+|V
79 +iE ]M +vi o]Eh E +iMi ]-II Ex i |vx
E =SSi *
+|V V +=] l E +vvx {V Ji
(E 31 S, 2017 il 31 S, 2021 E S |V)
80 V +=] l E +vvx <] 1 Ji { S =SSi
81 =SSi E Eh <] 1 x E M< (Sx B
{{Ci E n =SSi +vE +iH )
82 V +=] l E +vvx B]1 Ji { S =SSi
83 =SSi E Eh B] 1 x E M< (Sx B
{{Ci E n =SSi +vE +iH )
84 V +=] l E +vvx ] 2 Ji { S =SSi
85 =SSi E Eh ] 2 x E M< (Sx B {{Ci
E n =SSi +vE +iH )
]{{] v x]
]{{] E
{H .
10

19

26

44B

50

58

7.00%
9.00%
0.00
0.00
0.00
0.00

13642.40
15458.20

+|V
+|V
+|V
+|V
31901.49
0.00
53169.16
0.00

(`

Si x r +lMi E +i
+lMi E +i (Si x r E UcE) +lMi
E ni E x {H 10 l <Mi E
+xM x E n {V { i P] x M +
<E VB P] i 10 |ii E E +xiMi x M ,
E E {V {h r
V : x <C] ]-I {V r
V : +iH ]-I {V r
V : <C] ]-II {V r
+Ei M-k +xM E <C] {V x n P] x
M + <B, VJ i, i:
(i) Ex <C] ]-I {V r
(ii) VJ i +i r
+iH ]-I {V E {V {{ii i {Mhi x E M
({H 44 l Si +iH ]-I {V il {H 44B l
Si +xi +iH ]-I {V E S E +i)
V : +vE +iH ]-I {V V {H 58 E +xiMi ]-II {V x M<
]-II {V {j |vx
]-II {V {j {xx +Ii xv
{H 50 E E
{V {{ii i +{Ei +ivE ]-II {V ({H 58 l Si ]-II
{V il {H 58B l Si ]-II {V E S E +i)
51

x )

x )
-

0.00
0.00
9807.85
3834.55
13642.40

0.00

Table DF 11
Composition of Capital

(`
` in million)

Particulars

Amount

Amounts Subject
To Pre-Basel III
Treatment

Ref. No.

Common Equity Tier 1 capital: instruments and reserves

1
2
3

Directly issued qualifying common share capital plus related stock

surplus (share premium)
Retained earnings
Accumulated other comprehensive income (and other reserves)

Directly issued capital subject to phase out from CET1

26961.05
3630.21
77428.11

(only applicable to non-joint stock companies1)

Public sector capital injections grandfathered until 1 January 2018

Common share capital issued by subsidiaries and held by third

parties (amount allowed in group CET1)

A1 +A2
A3
B1 + B2+
B3+ B4

Common Equity Tier 1 capital before regulatory adjustments

108019.37

Common Equity Tier 1 capital: regulatory adjustments

7
8

Prudential valuation adjustments

Goodwill (net of related tax liability)

0.00
0.00

Intangibles other than mortgage-servicing rights (net of related tax liability)

10 Deferred tax assets

11 Cash-flow hedge reserve

0.00
0.00
0.00

12 Shortfall of provisions to expected losses

0.00

13 Securitisation gain on sale

14 Gains and losses due to changes in own credit risk on fair valued liabilities

0.00
0.00

15 Defined-benefit pension fund net assets

0.00

16 Investments in own shares (if not already netted off paid-in capital on reported
balance sheet)

0.00
0.00

17 Reciprocal cross-holdings in common equity

40.76

18 Investments in the capital of Banking, financial and insurance entities

that are outside the scope of regulatory consolidation, net of eligible short
positions, where the Bank does not own more than 10% of the issued
share capital (amount above 10% threshold)
19 Significant investments in the common stock of Banking, financial and

0.00

insurance entities that are outside the scope of regulatory consolidation,

net of eligible short positions (amount above 10% threshold)
20 Mortgage servicing rights (amount above 10% threshold)

0.00
0.00

21 Deferred tax assets arising from temporary differences (amount above

10% threshold, net of related tax liability)
22 Amount exceeding the 15% threshold

0.00
0.00

23 of which: significant investments in the common stock of financials

0.00

24 of which: mortgage servicing rights

25 of which: deferred tax assets arising from temporary differences

0.00
0.00

26 National specific regulatory adjustments (26a+26b+26c+26d)

26a
26b

Of which: Investments in the equity capital of unconsolidated non-financial subsidiaries

Of which: Investment in the equity capital of unconsolidated non-financial subsidiaries

26c

Of which: Shortfall in the equity capital of majority owned financial entities which have
not been consolidated with the Bank

52

1493.60
0.00

0.00

101.90

(`
` in million)
26d

of which: Unamortized pension funds expenditures

1493.60

REGULATORY ADJUSTMENTS APPLIED TO COMMON EQUITY TIER 1 IN RESPECT OF

AMOUNTS SUBJECT TO PRE-BASEL III TREATMENT
OF WHICH: Investment in the equity capital of unconsolidated financial subsidiaries
27 Regulatory adjustments applied to Common Equity Tier 1 due to insufficient
Additional Tier 1 and Tier 2 to cover deductions
28 Total regulatory adjustments to Common equity Tier 1

1493.60

0.00
146.70

366.75

0.00
1681.06

29 Common Equity Tier 1 capital (CET1)

Additional Tier 1 capital: instruments

106338.31

30 Directly issued qualifying Additional Tier 1 instruments plus related stock

surplus (31+32)
31 of which: classified as equity under applicable accounting standards
(Perpetual Non-Cumulative Preference Shares)

0.00
0.00

32 of which: classified as liabilities under applicable accounting standards

(Perpetual debt Instruments)

0.00

33 Directly issued capital instruments subject to phase out from Additional

Tier 1
34 Additional Tier 1 instruments (and CET1 instruments not included in

2400.00

3000.00

C1

row 5) issued by subsidiaries and held by third parties (amount allowed in

group AT1)
35 of which: instruments issued by subsidiaries subject to phase out
36 Additional Tier 1 capital before regulatory adjustments

0.00
0.00
2400.00

Additional Tier 1 capital: regulatory adjustments

37 Investments in own Additional Tier 1 instruments

0.00

38 Reciprocal cross-holdings in Additional Tier 1 instruments

2.00

5.00

39 Investments in the capital of Banking, financial and insurance entities that

are outside the scope of regulatory consolidation, net of eligible short positions,
where the Bank does not own more than 10% of the issued common share
capital of the entity (amount above 10% threshold)
40 Significant investments in the capital of Banking, financial and insurance

0.00

entities that are outside the scope of regulatory consolidation

(net of eligible short positions)
41 National specific regulatory adjustments (41a + 41b + 41c)

0.00
110.02

41a

Investments in Additional Tier I Capital of unconsolidated insurance

41b

subsidiaries
Shortfall in the Additional Tier 1 capital of majority owned financial entities

41c

0.00

which have not been consolidated with the Bank

0.00

REGULATORY ADJUSTMENTS APPLIED TO ADDITIONAL TIER 1 IN

RESPECT OF AMOUNTS SUBJECT TO PRE-BASEL III TREATMENT

0.00

OF WHICH: Investment in the equity capital of unconsolidated financial

subsidiaries
42 Regulatory adjustments applied to Additional Tier 1 due to insufficient
Tier 2 to cover deductions

366.75

34119.00

C2+ C3

0.00

43 Total regulatory adjustments to Additional Tier 1 capital

44 Additional Tier 1 capital (AT1)
44a

110.02

112.02
2287.98

Additional Tier 1 capital reckoned for capital adequacy

45 Tier 1 capital (T1 = CET1 + AT1) (row 29 + row 44a)

Tier 2 capital: instruments and reserves

2287.98
108626.29

46 Directly issued qualifying Tier 2 instruments plus related stock surplus

47 Directly issued capital instruments subject to phase out from Tier 2

53

0.00
21947.60

(`
` in million)
48 Tier 2 instruments (and CET1 and AT1 instruments not included in
rows 5 or 34) issued by subsidiaries and held by third parties
(amount allowed in group Tier 2)

0.00

49 of which: instruments issued by subsidiaries subject to phase out

50 Provisions
51 Tier 2 capital before regulatory adjustments

0.00
13642.40

D1+ D2

35590.00

Tier 2 capital: regulatory adjustments

52 Investments in own Tier 2 instruments

0.00

53 Reciprocal cross-holdings in Tier 2 instruments

87.30

218.26

54 Investments in the capital of Banking, financial and insurance entities

that are outside the scope of regulatory consolidation, net of eligible short
positions, where the Bank does not own more than 10% of the issued
common share capital of the entity (amount above the 10% threshold)
55 Significant investments in the capital Banking, financial and insurance

0.00

entities that are outside the scope of regulatory consolidation

(net of eligible short positions)
56 National specific regulatory adjustments (56a+56b+56c)

0.00
110.02

56a

Of which: Investments in the Tier II capital of unconsolidated subsidiaries

0.00

56b

Of which: Shortfall in the Tier 2 capital of majority owned financial entities

which have not been consolidated with the Bank

0.00

REGULATORY ADJUSTMENTS APPLIED TO TIER 2 IN RESPECT

56c

OF AMOUNTS SUBJECT TO PRE-BASEL III TREATMENT

OF WHICH: Investment in the equity capital of unconsolidated financial

subsidiaries
57 Total regulatory adjustments to Tier 2 capital

0.00
110.02
197.33

58 Tier 2 capital (T2)

58a Tier 2 capital reckoned for capital adequacy
58b Excess Additional Tier 1 capital reckoned as Tier 2 capital
58c Total Tier 2 capital admissible for capital adequacy ( 58a + 58b)
59 Total capital (TC = T1 + T2) (45+ 58c)
RISK WEIGHTED ASSETS IN RESPECT OF AMOUNTS
SUBJECT TO PRE-BASEL III TREATMENT
60 Total risk weighted assets (60a + 60b +60c)
60a of which: total credit risk weighted assets
60b of which: total market risk weighted assets
60c of which: total operational risk weighted assets
Capital ratios
61 Common Equity Tier 1 (as a percentage of risk weighted assets)
62 Tier 1 (as a percentage of risk weighted assets)
63 Total capital (as a percentage of risk weighted assets)
64 Institution specific buffer requirement (minimum CET1 requirement
plus capital conservation and countercyclical buffer requirements,
expressed as a percentage of risk weighted assets)
65 of which: capital conservation buffer requirement
66 of which: Bank specific countercyclical buffer requirement
67 of which: G-SIB buffer requirement
68 Common Equity Tier 1 available to meet buffers (as a percentage of risk
weighted assets)
National minima (if different from Basel III)
69 National Common Equity Tier 1 minimum ratio (if different from Basel III
minimum)

54

35392.68
35392.68
0.00
35392.68
144018.97

1445829.21
1236655.84
97007.09
112166.28
7.35%
7.51%
9.96%

4.50%
0.00%
4.50%

5.50%

366.75

(`
` in million)
70 National Tier 1 minimum ratio (if different from Basel III minimum)
71 National total capital minimum ratio (if different from Basel III minimum)

7.00%
9.00%

Amounts below the thresholds for deduction (before risk weighting)

72 Non-significant investments in the capital of other financials
73 Significant investments in the common stock of financials

0.00
0.00

74 Mortgage servicing rights (net of related tax liability)

0.00

75 Deferred tax assets arising from temporary differences (net of related

tax liability)

0.00

Applicable caps on the inclusion of provisions in Tier 2

76 Provisions eligible for inclusion in Tier 2 in respect of exposures
subject to tandardized
approach (prior to application of cap)

13642.40

77 Cap on inclusion of provisions in Tier 2 under tandardized approach

78 Provisions eligible for inclusion in Tier 2 in respect of exposures

15458.20

subject to internal
ratings-based approach (prior to application of cap)
79 Cap for inclusion of provisions in Tier 2 under internal ratings-based

NA

approach

NA

Capital instruments subject to phase-out arrangements (only applicable

between March 31, 2017 and March 31, 2021)
80 Current cap on CET1 instruments subject to phase out arrangements

NA

81 Amount excluded from CET1 due to cap (excess over cap after redemptions
and maturities)
82 Current cap on AT1 instruments subject to phase out arrangements

NA
31901.49

83 Amount excluded from AT1 due to cap (excess over cap after redemptions
and maturities)
84 Current cap on T2 instruments subject to phase out arrangements
85 Amount excluded from T2 due to cap (excess over cap after
redemptions and maturities)

0.00
53169.16
0.00

Notes to the Template

Row No.
of the
Template
10

19

26b

44a

50

58a

(` in million)

Particular

Deferred tax assets associated with accumulated losses

Deferred tax assets (excluding those associated with accumulated losses) net of Deferred tax liability
Total as indicated in row 10
If investments in insurance subsidiaries are not deducted fully from capital and instead considered
under 10% threshold for deduction, the resultant increase in the capital of bank
of which: Increase in Common Equity Tier 1 capital
of which: Increase in Additional Tier 1 capital
of which: Increase in Tier 2 capital
If investments in the equity capital of unconsolidated non-financial subsidiaries are not deducted
and hence, risk weighted then:
(i) Increase in Common Equity Tier 1 capital
(ii) Increase in risk weighted assets
Excess Additional Tier 1 capital not reckoned for capital adequacy (difference between Additional
0.00
Tier 1 capital as reported in row 44 and admissible Additional Tier 1 capital as reported in 44a)
of which: Excess Additional Tier 1 capital which is considered as Tier 2 capital under row 58b
0.00
Eligible Provisions included in Tier 2 capital
9807.85
Eligible Revaluation Reserves included in Tier 2 capital
3834.55
Total of row 50
13642.40
Excess Tier 2 capital not reckoned for capital adequacy (difference between Tier 2 capital
0.00
as reported in row 58 and T2 as reported in 58a)

55

h bB - 12
Sh - 1

{V E M`x - vx v +EiB

k h E
+x{ ix{j

B. {V B niB
i. |nk {V
+Ii B +v
V :
vE +Ii
{V +Ii
V B +x +Ii
x +Ii xv Ji
|
+Ii
{xx +Ii
B x Ji
+{ V
E {V
ii. V
V : E V
V : OE V
iii. =v
V : ..E
V : E
V : +x l+ B BV
V : +x (i )
V : {V Ji
V : Mh xx l @h Ji
V : Mh @h +{ ] II {V
V : Mh @h ] II {V
iv. +x niB B |vx
E
.+i
i. i W E E l xEn B
E E l B M + +{ Sx{ vx
ii. x :
V : E |ii
V : +x +xni +i
V :
V : bS B b
V : +xM/H =t/M
V : +x (hVE EMVi, S+ b +n)
iii. @h B +O
V : E E @h B +O
V : OE E @h B +O
iv. l +i
v. +x +i
V : J B +i +i
V : +lMi E +i
vi. Ex { J
vii. B x Ji x
E +i
56

x )
n
.

(`

5446.09
112561.24

B1
-

30483.87
3976.84
31047.40
890.85
21514.96
11920.00
8521.24
3630.21
0.00
118007.33
1908428.08
11085.13
1897342.95
121307.71
9000.00
2271.54
72917.17
37119.00
3000.00
10000.00
24119.00
56599.70
2204342.83

1
2
3
b1
B2
4
b2
B3
1
2
3
-

88344.46
54606.57
639605.32
499425.37
443.35
4373.60
62273.78
1317.85
71771.36
1380065.73
1380065.73
13096.93
28623.83
0.00
0.00
0.00
0.00
2204342.83

Sh - 2
h

k h E
+x{ ix{j

B.

{V B niB
|nk {V
V : <]+< i {j
V : B]+< i {j
+Ii B +v
V :
vE +Ii
{V +Ii
V B +x +Ii
x +Ii xv Ji
|
+Ii
{xx +Ii
V : <]+< i {j
V : ] II i {j
B x Ji
+{ V
E {V
ii. V
V : E V
V : OE V
iii. =v
V : ..E
V : E
V : +x l+ B BV
V : +x (i )
V : {V Ji
V : Mh xx l @h Ji
V : Mh @h +{ ] II {V
V : Mh @h ] II {V
iv. +x niB B |vx
V : v b]B
V : +i +i v b]B
V : +Ii v b]B
E
. +i
i. i W E E l xEn B
E E l M il +{ Sx { vx
ii. x
V : E |ii
V : +x +xni +i
V :
V : bS B b
V : +xM/H =t/M
V : +x (hVE EMVi, S+ b +n)
iii. @h B +O
V : E E @h B +O
V : OE E @h B +O
iv. l +i
v. +x +i
V : B +i +i
V : +lMi E +i
vi. Ex {
vii. B x Ji x
E +i

5446.09
5446.09
112561.24

i.

<1
-

30483.87
3976.85
31047.40
890.85
21514.96
11920.00
8521.24
0.00
3834.56
3630.21
0.00
118007.33
1908428.08
11085.13
1897342.95
121307.71
9000.00
2271.54
72917.17
37119.00
3000.00
10000.00
24119.00

<1
<1
B3
BS1
<2
B4

56599.70

BS2
B3
-

V1
V2
V3

3904.24
2204342.83

57

88344.46
54606.57

639605.32
499425.37
443.35
4373.60
62273.78
1317.85
1380065.73
1380065.73
13096.93
28623.83
0.00
0.00
0.00
0.00
2204342.83

Sh - 3
III x |E]Eh ]{] E (+iH E E l) - h bB - 11
Z <C] ] 1 {V : Ji B +Ii
E u {] E M<
xE {V E P]E

|iI { V {j x
(B M-H ]E E{x i i)
{V + vi ]E +v
2 |ivi ={Vx
3 Si +x O + (B +x +Ii)

E u {] E M< xE
{V E P]E Sh 2 Ex
E xE MV< E +iMi
ix{j E n J+/{j {
+vi i

4
5
6
7
8

26961.05
3630.21
77428.11

|iI { V {V <] 1 V +>] E

+vvx (E M-H ]E E{x { |V)
+xM u V B ii {I u J M< x
{V ( <]1 +xi)
xE Vx { Z <C] ] 1 {V
E{h Ex Vx
(vi E ni E x)

108019.37
-

58

<1+<2
B3
B1+B2+
B3+B4

Table DF 12
Composition of Capital- Reconciliation Requirements
Particulars
A. Capital & Liabilities
i. Paid-up Capital
Reserves & Surplus
of which:
Statutory Reserve
Capital Reserve
Revenue & Other Reserves
Investment Reserve Account
Share Premium
Special Reserve
Revaluation Reserve
Balance in Profit & Loss Account
Minority Interest
Total Capital
ii. Deposits
of which: Deposits from Banks
of which: Customer deposits
Borrowings
of which: From RBI
of which: From Banks
iii. of which: From other institutions & agencies
of which: Others (Outside India)
of which: Capital instruments
of which: Subordinated Innovative Perpetual Debt Instruments
of which: Subordinated Debt Upper Tier II Capital
of which: Subordinated Debt Tier II Capital
iv. Other liabilities & provisions
Total
B. Assets
i. Cash and balances with Reserve Bank of India
Balance with Banks and money at call and short notice
ii. Investments:
of which: Government securities
of which: Other approved securities
of which: Shares
of which: Debentures & Bonds
of which: Subsidiaries / Joint Ventures / Associates
of which: Others (Commercial Papers, Mutual Funds etc.)
iii. Loans and advances
of which: Loans and advances to Banks
of which: Loans and advances to customers
iv. Fixed assets
v. Other assets
of which: Goodwill and intangible assets
of which: Deferred tax assets
vi. Goodwill on consolidation
vii. Debit balance in Profit & Loss account
Total Assets

59

Balance sheet as in
financial statements

Ref.
No.

5446.09
112561.24

A1
-

30483.87
3976.84
31047.40
890.85
21514.96
11920.00
8521.24
3630.21
0.00
118007.33
1908428.08
11085.13
1897342.95
121307.71
9000.00
2271.54
72917.17
37119.00
3000.00
10000.00
24119.00
56599.70
2204342.83

B1
B2
B3
D1
A2
B4
D2
A3
C1
C2
C3
-

88344.46
54606.57
639605.32
499425.37
443.35
4373.60
62273.78
1317.85
71771.36
1380065.73
1380065.73
13096.93
28623.83
0.00
0.00
0.00
0.00
2204342.83

Step 2
Particulars

Balance sheet as in
financial statements

Capital & Liabilities

Paid-up Capital
of which: Amount eligible for CET1
of which: Amount eligible for AT1
Reserves & Surplus
of which:
Statutory Reserve
Capital Reserve
Revenue & Other Reserves
Investment Reserve Account
Share Premium
Special Reserve
Revaluation Reserve
of which: Amount eligible for CET1
of which: Amount eligible for Tier II
Balance in Profit & Loss Account
Minority Interest
Total Capital
ii. Deposits
of which: Deposits from Banks
of which: Customer deposits
iii. Borrowings
of which: From RBI
of which: From Banks
of which: From other institutions & agencies
of which: Others (Outside India)
of which: Capital instruments
of which: Subordinated Innovative Perpetual Debt Instruments
of which: Subordinated Debt Upper Tier II Capital
of which: Subordinated Debt Tier II Capital
iv. Other liabilities & provisions
of which: DTLs related to goodwill
of which: DTLs related to Intangible Assets
of which: DTLs related to Special Reserve
Total
B. Assets
i. Cash and balances with Reserve Bank of India
Balance with Banks and money at call and short notice
ii. Investments:
of which: Government securities
of which: Other approved securities
of which: Shares
of which: Debentures & Bonds
of which: Subsidiaries / Joint Ventures / Associates
of which: Others (Commercial Papers, Mutual Funds etc.)
iii. Loans and advances
of which: Loans and advances to Banks
of which: Loans and advances to customers
iv. Fixed assets
v. Other assets
of which: Goodwill and intangible assets
of which: Deferred tax assets
vi. Goodwill on consolidation
vii. Debit balance in Profit & Loss account
Total Assets

Ref.
No.

i.

60

5446.09
5446.09
112561.24
30483.87
3976.85
31047.40
890.85
21514.96
11920.00
8521.24
0.00
3834.56
3630.21
0.00
118007.33
1908428.08
11085.13
1897342.95
121307.71
9000.00
2271.54
72917.17
37119.00
3000.00
10000.00
24119.00
56599.70

E1
F1
F2
F3
H1
E2
F4

H2
F3
G1
G2
G3
-

3904.24
2204342.83
88344.46
54606.57
639605.32
499425.37
443.35
4373.60
62273.78
1317.85
71771.36
1380065.73
1380065.73
13096.93
28623.83
0.00
0.00
0.00
0.00
2204342.83

Step 3
Extract of Basel III common disclosure template (with added column) Table DF-11
Common Equity Tier 1 capital: instruments and reserves
Component of
regulatory capital
reported by bank

Directly issued qualifying common share (and equivalent for

Retained earnings

Accumulated other comprehensive income (and other reserves)

Directly issued capital subject to phase out from CET1

(only applicable to non- joint stock companies)

Common share capital issued by subsidiaries and held by third

Common Equity Tier 1 capital before regulatory adjustments

Prudential valuation adjustments

Goodwill (net of related tax liability)

non-joint stock companies) capital plus related stock surplus

26961.05
3630.21

parties (amount allowed in group CET1)

77428.11
-

61

108019.37

Source based on reference numbers/letters of

the balance sheet under
the regulatory scope of
consolidation from step 2

E1 + E2
F3
F1 + F2 + F3 + F4

h b B 13

xE {V E |J iB
B. <C] {V
<C] {V E |J iB xxx :
h
1 VEi
2 ] {Sx
3 Ji E x
xE ={S
4 ]Vx III x
5 {] ]Vx III x
6 BE// B BE { {ji
7 Ji E |E
8 xE {V +Yi (xxi {]M il iE)
9 Ji E
10 J MEh
11 V EB Vx E il
12 l nxEi
13 {{Ci il
14 { {I +xnx E +vvx VEi E M
15 E{E M il, +EE M il il Sx
16 {i M il, n |V
E{x/
17 l S /E{x
18 E{x n B E< vi <bC
19 ]{ E +ii
20 {hi: Evx, +E Evx +x
21 ]{ +{ E +ii Sx i +x |ix
22 +S S
23 {ix +{ix
24 n {ix, {ix E =i|E
25 n {ix, {h +E
26 n {ix, {ix n
27 n {ix, +x E{E {ix
28 n {ix, {ix Ji E |E iB
29 n {ix, {ii Ji E VEi iB
30 +Ji iB
31 n +Ji, +Jx =i|E
32 n +Jx, {h +E
33 n +Jx, l +l
34 n +l +Jx, +J |h E h
35 {{x +vxlx {nxG li
36 +x+x{i {ii ]
37 n , +x-+x{i ] iB

62

<C]
<n E
ISIN: INE428A01015

i v
Ex <C] ] I
Ex <C] ] I
BE B
Ex <C]
. 5446.09 x
.10 |i
vE E xv
v
l
E< {{Ci x
x
+|V
+|V
Evx bbb
+|V
+|V
{hi: Evx
x
+S
+|V
+|V
+|V
+|V
+|V
+|V
+|V
x
+|V
+|V
+|V
+|V
+|V
x
+|V

. +iH ] I {V Ji
+iH ] I {V Ji E |J iB xxx :
h
+iH ] I
(l b V I)
<n E
1 VEi
2 ] {Sx
(+li. B+<{,+<B<Bx xV
lxx i M {Sx)
INE428A09091
i v
3 Ji E x
xE ={S
4 ]Vx III x
+iH ] 1
5 {]-]Vx III x
+{j
6 BE// B BE { {ji
BE B
7 Ji E |E
l
8 xE {V +Yi
(x ,xxi {]M il E )
. 1200 x
9 Ji E
. 1 x |i xb
10 J MEh
ni
11 V EB Vx E il
30 S, 2009
12 l nxEi
l
13 {{Ci il
E< {{Ci x
14 { {I +xnx E +vvx VEi E M

15 E{E M il, +EE M il +

E{E M il : 30 S,
Sx
2019 + =E n |iE M
il +EE M il :
+|V { Sx
+|V { Sx
16 {i M il, n |V
30 S, 2019 E n
|iE M` il
E{x /
17 +S S E{x
+S
18 E{x n B +x vi <bC
{ M E{ il iE V
il E Mix 9.20% |i
+ n E M E{ E
={M x Ei , 9.20% |i
E E{x n E +iH 50
{<] +li 30 S, 2019 E n
9.70% |i
19 ]{ E +ii
x
20 {hi: Evx, +E Evx +x
+E Evx
21 ]{ +{ E +ii Sx i +x |ix

22 +S S
+S
23 {ix +{ix
+{ix
24 n {ix, {ix E =i|E
+|V
25 n {ix, {h +E
+|V
26 n {ix, {ix n
+|V
27 n {ix, +x E{E {ix
+|V
28 n {ix, {ix Ji E |E iB
+|V
29 n {ix, {ii Ji E VEi iB
+|V
30 +Ji iB
x
31 n +Ji, +Jx =i|E
+|V
32 n +Jx, {h +E
+|V
33 n +Jx, l +l
+|V
34 n +l +Jx, +J |h E h
+|V
35 {{x +vxlx li
bvE E n (B)<C]
xE E n `i + ()
+x @h E n E +vxl
63

+iH ] I
(l b V II)
<n E
INE428A09125

i v
+iH ] 1
+{j
BE B
l
. 1200 x
. 1 x |i xb
ni
18 n, 2009
l
E< {{Ci x

E{E M il :
18 n, 2019
+ =E n |iE M
il +EE M il :
18 n, 2019 E n
|iE M` il
+S
{ M E{ il iE V
il E Mix 9.08% |i
+ n E M E{ E
={M x Ei , 9.08% |i
E E{x n E +iH 50
{<] +li 18 n,
2019 E n 9.58% |i
x
+E Evx

+S
+{ix
+|V
+|V
+|V
+|V
+|V
+|V
x
+|V
+|V
+|V
+|V
bvE E n (B) <C]
xE E n `i + ()
+x @h E n E +vxl

(`

x )

. ] II {V Ji
B. +{ ] II {V Ji
+{ ] II {V Ji E |J iB xxx :
h
VEi
] {Sx
(+li. B+<{,+<B<Bx xV
lxx i M {Sx)
3. Ji E x
xE ={S
4. ]Vx III x
5. {]-]Vx III x
6. BE// B BE { {ji
7. Ji E |E
8. xE {V +Yi (x ,xxi
{]M il E)
9. Ji E
10. J MEh
11. V EB Vx E il
12. l nxEi
13. {{Ci il
14. { {I +xnx E +vvx VEi E M
15. E{E M il, +EE M il + Sx
1.
2.

16. {i

M il, n |V

V I
<n E

V II
<n E

INE428A09075

INE428A09117

i v

i v

] II
+{j
BE B
+{ ] II

] II
+{j
BE B
+{ ] II

. 4000 x
. 1 x |i b
ni
19 S, 2009
nxEi
19 S, 2024

E{E M il : 19 S, 2019
+EE M il : +|V
Sx {

. 4000 x
. 1 x |i b
ni
18 n, 2009
nxEi
18 n, 2024

E{E M il : 18
n, 2019
+EE M il :
+|V
Sx {
|iE M` il {

|iE M` il {

E{x /
17. +S S E{x
18. E{x n B +x vi <bC

+S
{ M E{ il iE V
il E Mix 9.28%
|i + n E M
E{ E ={M x Ei ,
9.28% |i E E{x n E
+iH 50 {<] +li
19 S, 2019 E n 9.78%
|i

19. ]{ E +ii
20. {hi: Evx, +E Evx +x
21. ]{ +{ E +ii Sx i +x |ix
22. +-S S
23. {ix +-{ix
24. n {ix, {ix E =i|E
25. n {ix, {h +E

x
+E Evx

+-S
+-{ix
+|V
+|V
64

+S
iE V il E
Mix 8.58% |i
+ n E M E{
E ={Mx Ei ,
8.58% |i E E{x
n E +iH 50
{<] +li 18
n, 2024 E n
9.08% |i
x
+E Evx

+-S
+-{ix
+|V
+|V

h
26. n {ix, {ix n
27. n {ix, +x E{E {ix
28. n {ix, {ix Ji E |E iB
29. n {ix, {ii Ji E VEi iB
30. +Ji iB
31. n +Ji, +Jx =i|E
32. n +Jx, {h +E
33. n +Jx, l +l
34. n +l +Jx, +J |h E h
35. {{x +vxlx li (Ji iiE
` Ji iB)

V I
+|V
+|V
+|V
+|V
x
+|V
+|V
+|V
+|V

V II
+|V
+|V
+|V
+|V
x
+|V
+|V
+|V
+|V

bvE E n (B)<C]
xE E n
`i + () +x
+vxl xE E n

36. +x-+x{i {ii ]

37. n , +x-+x{i ] iB

]{ +{, E< III

III x +h

bvE E n
(B)<C]
@h E n E
`i + () +x
@h E n E
+vxl

]{ +{, E<
x

x +h x

65

66

22.
23.

21.

19.
20.

]{ E +ii
{ i Evx, +E
{ Evx +l +x
]{-+{ E +ii +l Si x
+x |ix
S +l MS
{ix +l +{ix

VEi
] {SxEi (V - B+<{,
+<B+<Bx +l xV lxx i M
{SxEi)
3.
Ji i +v Exx
xE ={S
4.
]Vx -III x
5.
{]-]Vx -III x
6.
BE// B BE i {j
7.
Ji E |E
8.
xE {V x
(xE]i {]M il E +x
10 J )
9.
Ji E
10.
JEx MEh
11.
V Ex E il
12.
l +l nxEi
13.
{{Ci il
14.
VEi E E {I {xnx
E +vvx
15.
E{E E il, +EE E
il B Sx
16.
{i E iJ, n |V
17.
l +l +l /E{x
18.
E{x n B +x vi <bC

G
.
1.
2.

. Mh b, + ] II
Mh b J iB xxJi :
V

VI

VII

x
+|V
l
8.85% |..
E { n
x
+E {
Evx

x
+|V
l
8.00% |..
+vE { n
x
+E {
Evx

M-S
+{ix

M-S
+{ix

. 2247.60 x
.1 x |i b
ni
29 i 2006
nxEi
29 i 2016

.1000 x
.1 x |i b
ni
14 S 2006
nxEi
13 S 2016

M-S
+{ix

x
+|V
l
10.00% |..
E { n
x
+E {
Evx

. 3000 x
.1 x |i b
ni
25 i 2007
nxEi
25 i 2017

]-II
+{j
BE B
] 2 Ji

]-II
+{j
BE B
] 2 Ji

]-II
+{j
BE B
] 2 Ji

<n E

+<Bx<428A09067
i Exx

<n E

+<Bx< 428A09042 +<Bx<428A09059

i Exx
i Exx

<n E

J
VIII

M-S
+{ix

x
+|V
l
9.23% |..
E { n
x
+E {
Evx

. 3200 x
.1 x |i b
ni
26 S 2009
nxEi
26 S 2019

]-II
+{j
BE B
] 2 Ji

+<Bx<428A09083
i Exx

<n E

J
IX

M-S
+{ix

x
+|V
l
8.45% |..
E { n
x
+E {
Evx

. 4500 x
.1 x |i b
ni
4 +Mi 2009
nxEi
4 +Mi 2019

]-II
+{j
BE B
] 2 Ji

+<Bx<428A 09109
i Exx

<n E

67

36.
37.

35.

30.
31.
32.
33.
34.

29.

28.

G
.
24.
25.
26.
27.

M-Ei ]Vxb ]
n , M-+x{x ] xn] E

III x
+h x

+|V
+|V
+|V
+|V
+|V
+|V
<x b xE
E n (B) ] I
{V x i
{j Ji xE
E n =SSi M ;
B () +x
xn E n
xxi M*

VII

III x
+h x

<x b xE
E n (B) ] I
{V x i
{j Ji xE
E n =SSi M ;
B () +x
xn E n
xxi M*

<x b xE
E n (B) ] I
{V x i
{j Ji xE
E n =SSi M ;
B () +x
xn E n
xxi M*

III x
+h x

+|V
+|V
+|V
+|V
+|V

+|V
x

+|V

+|V
+|V
+|V

+|V
+|V
+|V
+|V
+|V

+|V
x

+|V

+|V
+|V
x

+|V
+|V
+|V

VI

+|V
+|V
+|V

n {ix , i {ix E ]M
n {ix , i {h +l +E
n {ix , i {ix E n
n {ix , i +x +l
E{E {ix
n {ix , i Ji E |E
xn] E V {ix E Vx
n {ix , i {ii x
Ji E VEi xn] E
+Jx ]
n +Ji , i +Jx E ]M
n +Ji , i {h +l +E
n +Ji , i l +l +l
n +l +Jx , i <]-+{
ij E h
{{x Mh {nxG li
(Ji iiE c Ji E |E xn] E)

h
VIII

III x
+h x

<x b xE
E n (B) ] I
{V x i
{j Ji xE
E n =SSi M ;
B () +x
xn E n
xxi M*

+|V
+|V
+|V
+|V
+|V

+|V
x

+|V

+|V
+|V
+|V

J
IX

III x
+h x

<x b xE
E n (B) ] I
{V x i
{j Ji xE
E n =SSi M ;
B () +x
xn E n
xxi M*

+|V
+|V
+|V
+|V
+|V

+|V
x

+|V

+|V
+|V
+|V

Table DF 13
Main Features of Regulatory Capital
A.Equity Capital
The main features of Equity capital are as follows:
Particulars

Equity

Issuer

Allahabad Bank

Unique identifier

ISIN: INE428A01015

Governing law(s) of the instrument

Indian Laws

Regulatory treatment
4

Transitional Basel III rules

Common Equity Tier I

Post-transitional Basel III rules

Common Equity Tier I

Eligible at solo/group/ group & solo

Solo & Group

Instrument type

Common Equity

Amount recognised in regulatory capital (as of most recent reporting date)

9 Par value of instrument

10 Accounting classification

Rs 5446.09 million
Rs 10 per share
Shareholders Fund

11 Original date of issuance

Various

12 Perpetual or dated

Perpetual

13 Original maturity date

No Maturity

14 Issuer call subject to prior supervisory approval

No

15 Optional call date, contingent call dates and redemption amount

NA

16 Subsequent call dates, if applicable

NA

Coupons / dividends
17 Fixed or floating dividend/coupon

Discretionary Dividend

18 Coupon rate and any related index

NA

19 Existence of a dividend stopper

No

20 Fully discretionary, partially discretionary or mandatory

Fully Discretionary

21 Existence of step up or other incentive to redeem

No

22 Non-cumulative or cumulative
23 Convertible or non-convertible

Non-Cumulative
NA

24 If convertible, conversion trigger(s)

NA

25 If convertible, fully or partially

NA

26 If convertible, conversion rate

NA

27 If convertible, mandatory or optional conversion

NA

28 If convertible, specify instrument type convertible into

NA

29 If convertible, specify issuer of instrument it converts into

NA

30 Write-down feature
31 If write-down, write-down trigger(s)

No
NA

32 If write-down, full or partial

NA

33 If write-down, permanent or temporary

NA

34 If temporary write-down, description of write-up mechanism

NA

35 Position in subordination hierarchy in liquidation (specify instrument type immediately

senior to instrument)

NA

36 Non-compliant transitioned features

No

37 If yes, specify non-compliant features

NA

68

B.

Additional Tier I capital instruments

The main features of Additional Tier I Capital Instruments are as follows:

Particulars
Additional Tier I
(Perpetual Bond Series I)
1
2

Allahabad Bank

Allahabad Bank

INE428A09091
Indian Laws

INE428A09125
Indian Laws

Additional Tier 1
Ineligible
Solo & Group
Perpetual

Additional Tier I
Ineligible
Solo & Group
Perpetual

Rs 1200 million
Rs 1 million per Bond
Liability
30th March, 2009
Perpetual
No Maturity
Yes
Optional call date: 30th March
2019 and thereafter on each
each anniversary date Contingent
call dates: NA Redemption At Par
On each anniversary date after
18th December 2019

Rs 1200 million
Rs 1 million per Bond
Liability
18th December, 2009
Perpetual
No Maturity
Yes
Optional Call Date: 18th
December 2019 and thereafter on

17 Fixed or floating dividend/coupon

18 Coupon rate and any related index

Fixed
9.20% p.a. payable annually
from issue date till the first call
option date and if the Bank does
not exercise the call option,
50 bps over and above coupon
rate of 9.20% i.e. 9.70 % p.a.
after 30th march, 2019

19 Existence of a dividend stopper

20 Fully discretionary, partially discretionary or
mandatory
21 Existence of step up or other incentive to redeem
22 Noncumulative or cumulative
23 Convertible or non-convertible
24 If convertible, conversion trigger(s)
25 If convertible, fully or partially
26 If convertible, conversion rate
27 If convertible, mandatory or optional conversion
28 If convertible, specify instrument type
convertible into
29 If convertible, specify issuer of instrument
it converts into
30 Write-down feature
31 If write-down, write-down trigger(s)
32 If write-down, full or partial
33 If write-down, permanent or temporary
34 If temporary write-down, description of write-up
mechanism
35 Position in subordination hierarchy in liquidation

No

Fixed
9.08% p.a., payable annually
from issue date till first call
option date and if the Bank
does not exercise the call
option, 50 bps over and above
coupon rate of 9.08% i.e.
9.58% p.a. after
18th December, 2019
No

Partially discretionary
Yes
Non-cumulative
Non-Convertible
NA
NA
NA
NA

Partially discretionary
Yes
Non-cumulative
Non-Convertible
NA
NA
NA
NA

NA

NA

NA
No
NA
NA
NA

NA
No
NA
NA
NA

NA
The claims of the Bondholders
shall be (a) superior to the
claims of investors in equity
shares and (b) subordinated to
the claims of all other creditors

NA
The claims of the Bondholders
shall be (a) superior to the
claims of investors in equity
shares and (b) subordinated
to the claims of all other
creditors

Issuer
Unique identifier (e.g. CUSIP, ISIN
or Bloomberg identifier for private
placement)
Governing law(s) of the instrument

Additional Tier I
(Perpetual Bond Series II)

Regulatory treatment
4 Transitional Basel III rules
5 Post-transitional Basel III rules
6 Eligible at solo/group/ group & solo
7 Instrument type
8 Amount recognised in regulatory capital
(`in million, as of most recent reporting date)
9 Par value of instrument
10 Accounting classification
11 Original date of issuance
12 Perpetual or dated
13 Original maturity date
14 Issuer call subject to prior supervisory approval
15 Optional call date, contingent call dates and
redemption amount
anniversary date Contingent
Call Dates: NA Redemption at par
16 Subsequent call dates, if applicable
30th March 2019

On each anniversary date after

Coupons / dividends

69

C.

Tier II Capital Instruments

a.

Upper Tier II capital Instruments

The main features of Upper Tier II Capital Instruments are as follows:

Particulars
1.
2.

Issuer
Unique identifier (e.g. CUSIP, ISIN
or Bloomberg identifier for private
placement)
3. Governing law(s) of the instrument
Regulatory treatment
4. Transitional Basel III rules
5. Post-transitional Basel III rules
6. Eligible at solo/group/ group & solo
7. Instrument type
8. Amount recognised in regulatory capital
(` in million, as of most recent reporting date)
9. Par value of instrument
10. Accounting classification
11. Original date of issuance
12. Perpetual or dated
13. Original maturity date
14. Issuer call subject to prior
supervisory approval
15. Optional call date, contingent call
dates and redemption amount
Redemption At Par

Series I

Series II

Allahabad Bank
INE428A09075

Allahabad Bank
INE428A09117

Indian Laws

Indian Laws

Tier 2
Ineligible
Solo & Group
Upper Tier II

Tier 2
Ineligible
Solo & Group
Upper Tier II

Rs 4000 million
Rs 1 million per Bond
Liability
19th march 2009
Dated
19th March 2024

Rs 4000 million
Rs 1 million per Bond
Liability
18th December 2009
Dated
18th December 2024

Yes
Yes
Optional Call Date: 19th March 2019 Optional Call Date:
Contingent call dates: NA
18th December 2019
Contingent call dates: NA
Redemption At Par

16. Subsequent call dates, if applicable

On each anniversary date

On each anniversary date

17. Fixed or floating dividend / coupon

18. Coupon rate and any related index

Fixed
9.28% p.a. payable annually from
issue date till the first call option
date and if the call option is not
exercised by the Bank then 50 bps
over and above coupon rate of
9.28% i.e. 9.78% p.a. payable
annually after 19th March 2019
after 18th December 2024

Fixed
8.58% p.a. payable annually
from issue date till the first call
option date and if the call option
is not exercised by the Bank
then 50 bps over and above
coupon rate of 8.58% i.e.
9.08% p.a. payable annually

19. Existence of a dividend stopper

No

No

20. Fully discretionary, partially discretionary or

Partially discretionary

Partially discretionary

Yes

Yes

22. Noncumulative or cumulative

Non-Cumulative

Non-Cumulative

23. Convertible or non-convertible

Non-Convertible

Non-Convertible

Coupons / dividends

mandatory
21. Existence of step up or other
incentive to redeem

24. If convertible, conversion trigger(s)

NA

NA

25. If convertible, fully or partially

NA

NA

70

Particulars

Series I

Series II

26. If convertible, conversion rate

NA

NA

27. If convertible, mandatory or optional conversion

NA

NA

28. If convertible, specify instrument type convertible into

NA

NA

29. If convertible, specify issuer of instrument it

NA

NA

30. Write-down feature

converts into

No

No

31. If write-down, write-down trigger(s)

NA

NA

32. If write-down, full or partial

NA

NA

33. If write-down, permanent or temporary

NA

NA

NA

NA

34. If temporary write-down, description of

write-up mechanism
35. Position in subordination hierarchy in
liquidation (specify instrument type
immediately senior to instrument)

The claims of the investors in these The claims of the investors in

Bonds shall be (a) superior to the
claims of investors in instruments

these Bonds shall be (a) superior

to the claims of investors in

eligible for inclusion in Tier I capital; instruments eligible for inclusion

and (b) subordinate to the claims of in Tier I capital; and (b) subordiall other creditors.

nate to the claims of all other

creditors.

36.

Non-compliant transitioned features

Yes

Yes

37.

If yes, specify non-compliant features

Step up; No Basel III

Step up; No Basel III Loss

Loss Absorbency

Absorbency

71

72

Post-transitional Basel III rules

Eligible at solo/group/ group & solo

Instrument type

Amount recognised in regulatory capital ( in million, as of most

5.

6.

7.

8.

No

Existence of a dividend stopper

Fully discretionary, partially discretionary or mandatory Partially discretionary

Existence of step up or other incentive to redeem

Noncumulative or cumulative

Convertible or non-convertible

20.

21.

22.

23.

annually

annually

Non-Convertible

Non-Cumulative

Yes

Non-Convertible

Non-Cumulative

Yes

Partially discretionary

No

payable

No

8.85% p.a.

payable semi-

Fixed

NA

No

No

29 September 2016

8.00% p.a.

Fixed

NA

No

19.

Optional call date, contingent call dates and redemption amount

15.

Coupon rate and any related index

Issuer call subject to prior supervisory approval

14.

13 march 2016

th

18.

Original maturity date

13.

Dated

th

29 September 2006

Dated

Subsequent call dates, if applicable

Perpetual or dated

12.

13 march 2006

th

th

Fixed or floating dividend / coupon

Original date of issuance

11.

Liability

Rs 1 million per Bond

Rs 2247.60 million

Tier 2 Instruments

Solo & Group

Ineligible

Tier 2

Indian Laws

INE428A09059

Allahabad Bank

Series VI

Liability

Rs 1 million per Bond

17.

Accounting classification

10.

Rs 1000 million

Tier 2 Instruments

Solo & Group

Ineligible

Tier 2

Indian Laws

16.

Par value of instrument

9.

recent reporting date)

Transitional Basel III rules

4.

Regulatory treatment

Governing law (s) of the instrument

INE428A09042

private placement)

3.

Allahabad Bank

Issuer
Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for

1.
2.

Series V

Particulars

Sl.
No.

The main features of Subordinate Bonds are as follows:

b. Subordinated Bonds, Lower Tier II

Non-Convertible

Non-Cumulative

Yes

Partially discretionary

No

annually

payable

10.00% p.a.

Fixed

NA

No

No

25 September 2017

th

Dated

25 September 2007

th

Liability

Rs 1 million per Bond

Rs 3000 million

Tier 2 Instruments

Solo & Group

Ineligible

Tier 2

Indian Laws

INE428A09067

Allahabad Bank

Series VII

Non-Convertible

Non-Cumulative

Yes

Partially discretionary

No

annually

payable

9.23% p.a.

Fixed

NA

No

No

26 March 2019

th

Dated

26 March 2009

th

Liability

Rs 1 million per Bond

Rs 3200 million

Tier 2 Instruments

Solo & Group

Ineligible

Tier 2

Indian Laws

INE428A09083

Allahabad Bank

Series VIII

Non-Convertible

Non-Cumulative

Yes

Partially discretionary

No

annually

payable

8.45% p.a.

Fixed

NA

No

No

4th August 2019

Dated

4th August 2009

Liability

Rs 1 million per Bond

Rs 4500 million

Tier 2 Instruments

Solo & Group

Ineligible

Tier 2

Indian Laws

INE428A09109

Allahabad Bank

Series IX

73

36.
37.

35.

24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.

S.
No.

Non-compliant transitioned features

If yes, specify non-compliant features

If convertible, conversion trigger(s)

If convertible, fully or partially
If convertible, conversion rate
If convertible, mandatory or optional conversion
If convertible, specify instrument type convertible into
If convertible, specify issuer of instrument it converts into
Write-down feature
If write-down, write-down trigger(s)
If write-down, full or partial
If write-down, permanent or temporary
If temporary write-down, description of write-up
mechanism
Position in subordination hierarchy in liquidation
(specify instrument type immediately senior to
instrument)

Particulars

The claims of
the investors in
these Bonds
shall be (a)
Superior to the
claims of
investors in
instruments
eligible for
inclusion in Tier I
Capital; and (b)
subordinate to
the claims of all
other creditors.
Yes
No, Basel III
Loss Absorbency

NA
NA
NA
NA
NA
NO
NA
NA
NA
NA
NA

Series V

The claims of
the investors in
these Bonds
shall be (a)
Superior to the
claims of
investors in
instruments
eligible for
inclusion in Tier I
Capital; and (b)
subordinate to
the claims of all
other creditors.
Yes
No, Basel III
Loss Absabency

NA
NA
NA
NA
NA
NO
NA
NA
NA
NA
NA

Series VI

The claims of
the investors in
these Bonds
shall be (a)
Superior to the
claims of
investors in
instruments
eligible for
inclusion in Tier I
Capital; and (b)
subordinate to
the claims of all
other creditors.
Yes
No, Basel III
Loss Absabency

NA
NA
NA
NA
NA
NO
NA
NA
NA
NA
NA

Series VII

The claims of
the investors in
these Bonds
shall be (a)
Superior to the
claims of
investors in
instruments
eligible for
inclusion in Tier I
Capital; and (b)
subordinate to
the claims of all
other creditors.
Yes
No, Basel III
Loss Absabency

NA
NA
NA
NA
NA
NO
NA
NA
NA
NA
NA

Series VIII

The claims of
the investors in
these Bonds
shall be (a)
Superior to the
claims of
investors in
instruments
eligible for
inclusion in Tier I
Capital; and (b)
subordinate to
the claims of all
other creditors.
Yes
No, Basel III
Loss Absabency

NA

NA
NA
NA
NA
NA
NO
NA
NA
NA

Series IX

h bB 14

xE {V Ji E {h i
xE {V Ji E {h xvx B i +li +iH ] * {V + ] ** {V E
ii h +M Mx E M *

Table DF 14

Full Terms and Conditions of Regulatory

Capital Instruments
The Detailed Terms and Conditions of Regulatory Capital Instruments viz., Additional Tier I
Capital and Tier II Capital is annexed separately.

74

h bB-15

{v i |E]x +{IB
MhiE |E]x
(B)
()

{v i E M`x + +vn
vi Sx
{v |G E x{h + Sx
vi Sx + {v xi E J
iB + =q

()

{v |G+ S B VJ
E Mhx E iE E h* < <x VJ
E Mhx i |H |J ={ E { +
|E E E Vx SB

(b)

=x iE E h V E {v
i E l Ex{nx {x +v E
nx Ex{nx E r Ei *

M`x: E xnE + n +x xnE

{hEE xnE (+|x + Ex) E n {v k
j u nB MB nxn E +x {Ei E Vi
, +i nxn 29 < 2012 E V EB MB *
{Ex k j u Si MhiE B {hiE
Ex{nx {] E +v { E Vi * k
2013-14 i nxn + |i x B *
{hEE xnE (+|x + Ex) E n {v k
j u nB MB nxn E +x {Ei E Vi
, +i nxn 29 < 2012 E V EB MB *
{Ex k j u Si MhiE B {hiE
Ex{nx {] E +v { E Vi * k
2013-14 i nxn + |{i x B *
i E, k j, k B |M u V
nxE 29.05.2012 E {j J 16/65/211-+.*
E ii lSi {hEE xnE E Ex{nx i
Ex{nx r |ix E Ex E |Vx i
]C EB MB {E {] xxx :
Ex{nx Ex ]C
1. MhiE {]
B++< {]
+E
i) E V E V E |ii
10
ii) |iI E +O r
5
iii) BB< +O r
5
iv) EV M E +O
5
v) E Bx{B E i()
5
vi) +i +i { |i(++B)
5
vii) x (E {Si)
10
viii) ] Mi + +x{i
5
ix) {B i +x Mi (%)
5
x) k x
10
xi) ++ E Ex{nx
5
E
70
2. +|x B Ex i MhiE {]
i) hxi, |{i EB Vx {SxiE
={v E Ei B hxi{E Vx
05
ii) x vx E Vx
05
iii) <-Mx B <-Mix
05
iv) |VE E E l ++ E
EiE BEEh
05
v) |G {xx({+)
05
vi) xxi
05
E
30
E M
100
{hEE xnE i Ex{nx r |ix |{i EB
+E E +v { xxx |V M
75

100 +E
|{i +E

E |ix
(J )
+|x
8.00
7.00
6.00
x

100
81-99
61-80
60 + E
(<)

+lMx + {ix {v |nx

Ex E E E xi { SS + |nx
Ex { + |nx Ex E n +lMi
{v E Vx i E E xi +
xnb { SS

Ex
6.50
5.50
4.00
x

{hEE xnE (+|x + Ex) E n {v

k j u nB MB nxn E +x {Ei
E Vi , +i nxn 29 < 2012 E V EB
MB * {Ex k j u Si MhiE B
{hiE Ex{nx {] E +v { E Vi *
k 2013-14 i nxn + |{i x B *
{hEE xnE E n |ix, n E< , E
Mix =xE Ji E v E Vi *

(B) {ix {v E z {
(+li xEn, , <B+{ + +x {)
E h VxE E ={M Ei + <x
z { E |M E +Si

{hiE |E]Eh
(E {hEE xnE/J E{E +vE/+x VJ =`x E Ei B)
(V) *

k E nx {v i u +Vi ` E
E J + <E n E Mix E M< {v

(BS) *

k E nx {ix {v |{i Ex
ES E J
k E nx <x-+x +b E E J +
V<xM/<x-+x x E { Mix E M
M]Ei x, n E<
={Si E +iH Mix E h, n E<

x
x

xEn, + r Ji + +x { Vi
E +lMi {v E E
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x
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k i |nx E M< l + {ix, +lMi

+ M-+lMi {v nx E h

*
*
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(V)
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BC {] H +/+l +H Vx i E
+lMi {v + xB J M< {v E E
BC-{] H Vx E Eh k E nx E
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E E]i

76

k 2013-14 E nx 2 ` E +Vi E
M< + Mix E M< {v x *
x
x

x
x
x

Table DF-15

Disclosure Requirements for Remuneration

Qualitative disclosures
(a)

Information relating to the composition and

mandate of the Remuneration Committee.

Composition: Government Director,

RBI Director and 2 other directors.

(b)

Information relating to the design and structure

of remuneration processes and the key feature
and objectives of remuneration policy.

Remuneration payable to Whole time Directors

(CMD and EDs) is calculated based on guidelines
given by Ministry of Finance, latest being
Dated 29th May2012. The calculation is made based
on qualitative and quantitative performance
parameters as advised by MOF. The guidelines for
FY 2013-14 not yet received.

(c)

Description of the ways in which current and future

risks are taken into account in the remuneration
processes. It should include the nature and type
of the key measures used to take account of these risks.

Remuneration payable to Whole time Directors

(CMD and EDs ) is calculated based on guidelines
given by Ministry of Finance, latest being Dated
29th May2012. The calculation is made based on
qualitative and quantitative performance
parameters as advised by MOF. The guidelines
for FY 2013-14 not yet received.

(d)

Description of the ways in which the bank seeks

to link performance during a performance
measurement period with levels of remuneration.

The broad parameters included in the matrix for the

purpose of evaluation of performance of the whole
time directors for performance of the whole time
directors for performance linked incentives, as
advised by GoI, MoF, DFS, vide letter No. 16/65/2011
-BO.I dated 29.05.2012 are as under:
Performance Evaluation Matrices:
1. Qualitative Parametres
SOI Parameters
i)
CASA Deposits as a percentage
of Total Deposits
ii)
growth in Direct Agricultural Advances
iii)
Growth in MSE Advances
iv) Advances to Weaker Sections
v)
Level of Gross NPAs (Amount)
Vi) Return of Average Assets (ROA)
Vii) Net Profit (After Tax)
Viii) Staff Cost Income Ratio
ix) Other Costs towards PL (%)
x)
Financial Inclusion
xi) Performance of RRBs
Total
2. Qualitative Parameters for CMDs & EDs
i)
Strategic plan covering business strategies,
operational milestone to be achieved
ii)
Human Resource Development Plan
iii)
E-Governance and E-payment
iv) RRB Functional integration with
Sponsor Banks
v)
Business Process Re-engineering (BPR)
vi) Innovation
Total
Grand Total

77

Marks
10
5
5
5
5
5
10
5
5
10
5
70

05
05
05
05
05
05
30
100

The performance linked incentive will be admissible to the

whole time directors as under on the basis of scores
obtained:
For scores out of 100
marks

Incentive per annum

(in Lacs)
CMD

ED

100

8.00

6.50

81-99

7.00

5.50

61-80

6.00

4.00

NIL

NIL

60 and less
(e) A discussion of the banks policy on deferral
and vesting of variable remuneration and a
discussion of the banks policy and criteria
for adjusting deferred remuneration before
vesting and after vesting.

Remuneration payable to Whole time Directors (CMD and

EDs) is calculated based on guidelines given by Ministry of
Finance, latest being Dated 29th May2012. The calculation
is made based on qualitative and quantitative performance
parameters as advised by MOF. The guidelines for FY 201314 not yet received.

(f)

Incentive payable if any to Whole time Directors is paid

through their Accounts.

Description of the different forms of variable

remuneration (i.e. cash, shares, ESOPs and
other forms) that the bank utilizes and the
rationale for using these different forms.

Quantitative disclosures
(Covering only Whole Time Directors / Chief Executive Officer / Other Risk Takers)
(g) *

Number of meetings held by the Remuneration

Committee during the financial year and
remuneration paid to its members.

(h) *

Number of employees having received a variable

remuneration award during the financial year.
Number and total amount of sign-on awards
made during the financial year.
Details of guaranteed bonus, if any, paid as
joining / sign on bonus.
Details of severance pay, in addition to accrued
benefits, if any.

*
*
*
(i)

*
(j)

(k)

*
*

During the Financial Year 2013-14, no. of meetings

held is 02 and the remuneration paid is NIL.

NIL
NIL
NIL
NIL

Total amount of outstanding deferred remuneration,

split into cash, shares and share-linked instruments
and other forms.
Total amount of deferred remuneration paid out
in the financial year.
Breakdown of amount of remuneration awards
for the financial year to show fixed and variable,
deferred and non-deferred.

NIL
NIL

NIL

Total amount of outstanding deferred remuneration

and retained remuneration exposed to ex post
explicit and / or implicit adjustments.
Total amount of reductions during the financial
year due to ex- post explicit adjustments.
Total amount of reductions during the financial year
due to ex- post implicit adjustments.

78

NIL
NIL
NIL

E{] Mxx { {]

REPORT ON CORPORATE GOVERNANCE

1. E{] Mxx E nx
<n E E E{] xi, E{] Mxx E og rxi
{ +vi * +l-l E Vi, ] |lEi+
il E{] E E l l vE E i E
+ivE x ni * E +{x i Miv E Ij =iE]i
Ex E B =SS xiE , {ni il +xi
o]Eh Ji * E J{x il { {]i E l
k +i] |Si xnb E +x{x E B |ir
V E E OE il vE E E {{
M* E xxJi E v E{] =iE]i Ex
Si *
n E Exx fS il xiE E ri E +vx
vE E x xB Jx*
+{x OE E k |nx Ex*
+{x OE il ES, xE + V E +x
iE E B BE J B l {li i
Ex*
V E M E B x{I B x x xSi
Ex E B +iG |vx xSi Ex*
2. xnE b

1.

2.1 xnE b E M`x EM x +vx 1949, EM

E{x (={G E +Vx B +ih) +vx 1970 il
]Ei E (|vx B |Eh |vx) Vx 1970 u
i i * xnEMh b E x{hi E vi il
ii +x |nx Ei V E E nI B x{I
xn |{i i *

2.1 The constitution of Board of Directors is governed by the

provisions of the Banking Regulation Act, 1949, Banking
Companies (Acquisition and Transfer of Undertakings)
Act, 1970 and Nationalized Banks (Management and
Miscellaneous Provisions) Scheme, 1970. The Directors
bring in wide range of expertise and experience to the
Board, facilitating proficient and unbiased direction to the
Bank.
The Chairman and Managing Director and two Executive
Directors are three whole time Directors appointed by the
Government of India. The other Directors include the
following:-

Corporate Governance Philosophy

Allahabad Banks corporate policy is based on sound principles

of Corporate Governance. It holds high the shareholders value
while catering to the needs of the economy, national priorities
and corporate growth. The Bank believes in high standard of
ethical values, transparency and disciplined approach to
achieve excellence in all fields of activities. It is also committed
to comply with the best international practices coupled with
openness and fairness, which will lead the Bank to enjoy from
customers and shareholders a Tradition of Trust. The Bank
seeks to proclaim corporate excellence by

Upholding the shareholders value within the principles

of ethics and legal framework of the country.

Extending best of services to its customers.

Proclaiming a free and fair environment for its
customers, employees, investors and other sections
of the society at large.

Ensuring a proactive management free from bias,

ensuring fair justice to all sections of the society.
2.

+vI B |v xnE il n E{E xnE i

E u xH ix {hEE xnE * +x xnE
xxJi :-

Board of Directors

(a) A representative each of

i) Government of India (GOI)
ii) Workmen Employees
iii) Officer Employees

(B) xxJi |iE E BE |ixv

i) i E
ii) EM ES
iii) +vE ES
() hVE E E xx +l {Ih E E
v +E Yi + +x Jx BE
xnE E i V E E ii { Exp E
u xi E Vi *
() ix ij vE xnE
(b) i E u xH xn JE xnE

(b) One director possessing necessary expertise and

experience in the matter relating to regulation or
supervision of commercial bank, to be nominated by
the Central Government on the recommendation of
RBI
c) Three Independent Shareholders Directors
d) One Chartered Accountant Director appointed by
Government of India
e) Three part-time Non-Official Directors (one post
presently lying vacant)

(<) ix +EE M-E xnE(ix ,BE {n

H )
2.2. b E i
b x xxx z i E M`x E V E E EU
i{h EiE Ij B Expi Mxx |nx Ei
B E E Si nxn ni , EM x]M
+ xjh Ei - :

b E |vx i (B+b)

b E J{I i (B)

2.2 Committees of Board

The Board has constituted various committees as mentioned
hereunder for specific and focussed approach towards
governance of some of the important functional areas of the
Bank, for providing proper direction, effective monitoring and
controlling the affairs of the Bank : Management Committee of the Board (MCBOD)
Audit Committee of the Board (ACB)

79

VJ |vx i (+B)
xnE E {nzi i (b{)

vE/xE E Ei i (BBS+<V)

Sx |tME i (+<] i)

vJvc xMx i (BB)

OE i (B)

{v i ({.)

xEx i (x. )

xM B +]x i (B+<B)

@h +xnx i(B)

i (+)

xSx i (<)
2.3 b E ni xi E xvh, x< {, Ex{nx
I il xjh B E E z EvE E |iVi
+vE E {cx E Ei *
b x z i E M` x E il z EiE
Ij +vE E |iVx E *
2.4 b il =E i +vE +i { ` E Ei
+ E E <E =q E E{h B EM fM |{i
Ex i Mnx ni V xiE {{] + E
|vx E v Ex{nx E =SS xE xSi E
V E*
2.5 31.03.2014 E lli xnE b E M`x xxi
:

3.
4.
5.
6.

7.
8.
9.
10.
11.
12.
13.

2.3 The responsibilities of the Board include formulation of

policies, new initiatives, performance review and control
and sanction of cases falling beyond the powers delegated
to various functionaries of the Bank. The Board has
constituted various committees and delegated powers for
different functional areas.
2.4 The Board and its committees meet at frequent intervals
and guide the Bank to achieve its objectives in a prudent
and efficient manner and to ensure high standards of
performance through ethical practices and professional
management.
2.5 The composition of the Board of Directors as on
31.03.2014 was as under:

{nx

xH/xEx
E il

Name

Designation

Date of
Appointment/
Nomination

1. E `
2.

Risk Management Committee (RMC)

Directors Promotion Committee (DPC)
Shareholders/ Investors Grievances Committee
(SHIGC)
Information Technology Committee (IT Com.)
Fraud Monitoring Committee (FMC)
Customer Service Committee (CSC)
Remuneration Committee (Remu. Com.)
Nomination Committee ( Nom. Com.)
Share Issue and Allotment Committee (SIAC)
Credit Approval Committee (CAC)
Recovery Committee (RCB)
Election Committee (ECB)

E fuU ctuzo
mrbr;gt fUe
m=g;t
Membership of

+x b B
i
E ni

Bank's Board
Level
Committees

Membership
of other Board
and
Committees

12.03.2014

10

02

01.04.2012

10

03

23.01.2014

10

15.11.2011

09

02

13.10.2011

05

18.12.2013

05

19.07.2011

04

29.08.2013

02

02

13.07.2011

05

29.08.2013

03

10.02.2012

06

10.02.2012

04

04

10.02.2012

04

03

+vI B |v xnE

Shri Rakesh Sethi

Chairman and Managing Director

]. +. S

E{E xnE

Shri T.R. Chawla

Executive Director

V.E. J

E{E xnE

Shri J.K. Singh Kharb

Executive Director

b. E Ex

E u xi xnE

Dr. Shashank Saksena

Government Nominee Director

B. =nMi

..E u xi xnE

Shri A. Udgata

RBI Nominee Director

V E

xn JE xi xnE

Shri Sanjeev Kumar

Sharma

Chartered Accountant
Nominee Director

b. Bx.

+EE M-E xnE

Shri D. N. Singh

Part Time Non Official Director

+V C

+EE M-E xnE

Shri Ajay Shukla

Part Time Non Official Director

x E

+vE ES xnE

Shri Nirmal Kumar Bari

Officers Employee Director

<.{.

EM ES xnE

Shri Y.P. Singh

Workmen Employee Director

b. n{ Sv

vE xnE

Dr. Sudip Chaudhuri

Shareholders Director

+E V

vE xnE

Shri Ashok Vij

Shareholders Director

B. {. . Bx.

vE xnE

Shri A. P. V. N. Sarma

Shareholders Director

80

x] :

Note:

(i)

b E E< xnE 10 +vE i E n x

=x i E{x , VxE xnE , 5
+vE i E +vI x * (< |Vx i E ix
i +li J{I i, vE/xE Ei
i + {v i { S E M )

(i) None of the directors on the Board is a member in

more than 10 committees or acts as Chairman of
more than 5 Committees across all companies in
which he is a director.(Only three committees i.e. the
Audit Committee, the Shareholders/Investors
Grievance Committee and the Remuneration
Committee are considered for this purpose)

(ii)

E< xnE BE n E in x *

(ii) None of the Directors is relative of each other.

2.6. k 2013-14 E E xnE b u xH/

xSi xnE E B E Oh Ex
xnE E h xS n M *

2.6

2.6.1 E `, +vI B |v xnE

2.6.1 Shri Rakesh Sethi, Chairman and Managing Director

E ` x nxE 12.03.2014 E E E +vI B |v

xnE E E Oh E* +{x ix xH {
` 01.01.2011 {V xx E E E{E xnE l*
30 +| 1957 E Vx ` =x t, nn
] + E Mb b] * =xx +{x EM
E n 1978 +xw E |vE E { + E*
32 +vE E +{x nP EE =xx z {n
{ E E + EM |S +x +Vi E* z xnx
E xx E +iH =xx S iE +xw E E
<x E{x E Sx E* |vx E BEEi
VJ |vx, V xVx, E{] |h B E
E | l* ` x EM E + xV], BB
|vx EG B +O EG M * =xx
E, E]b B BB E E b M *

Shri Rakesh Sethi has assumed the office of Chairman and

Managing Director of Bank on 12.03.2014. Prior to joining the
Bank, he was an Executive Director of Punjab National Bank
since January 01, 2011. Born on April 30, 1957, Shri Sethi is a
Gold Medalist in Master of Commerce from the Osmania
University, Hyderabad. He started his banking career from
Andhra Bank in December 1978 as a Manager. In a career
spanning over 32 years, he has worked in various positions
and has acquired a rich experience in banking. Besides
handling varied assignments, he also handled Home Finance
Company of Andhra Bank for four years. In the Head Office,
he was in charge of Integrated Risk Management, Deposit
Planning, Corporate Communications and government
Business. Shri Sethi has attended Management Programme
at Kelloggs School of Management, USA and Advances
Programme at Seoul. He also attended road shows of the bank
in UK, Scotland and USA.

2.6.2

2.6.2 Shri J. K. Singh Kharb, Executive Director

V. E. J, E{E xnE

The profile of the directors who were appointed/

nominated on the Board of the Bank and assumed office
during the financial year 2013-14 are furnished
hereunder:

J x 23.01.2014 E E E E{E xnE E {n

Oh E* +{x ix xnx { J nx E E |vx
E < |vE (+<+B, V B VBb) l*
J x +{x EM E 1983 nx E +vE E {
+ E* nx E +{x EE E n x =xx J+,Ij
E B |vx E z i E E*
Jx>, {, +nn + < ={xM E Ij |vE l
+ <] <b +{ E |J l* J Oh E {]x
E +vI * J x z |i`i |Ih l+
z |Ih + {`G M V VBx+<b,
nn, Bx+<B,{h, Bb+<,MhM +n* =xx Sx +
EM E + xV], BB |Ih EG M
*

Shri Kharb has assumed the office of Executive Director of

the Bank on 23.01.2014. Prior to his present assignment,
Shri Kharb was the General Manager (IRM, Rajbhasha and
GAD) of Dena Bank at Head Office, Mumbai. Shri Kharb had
started his Banking career by joining Dena Bank as Officer in
1983. During his career in Dena Bank, he had worked in various
capacities at Branches, Regional Office, and Head Office. He
was Regional Manager of Lucknow, Raipur and Ahmedabad
and Mumbai Sub. and was also head of East India Operations.
Shri Kharb also headed Gramin Bank at Patan as Chairman.
Shri Kharb had under gone many trainings and courses at
various prestigious institutes, like JNIDB, Hyderabad, NIBM,
Pune, MDI, Gurgaon, etc. He had also attended training
programs in China and at Kellog School of Management, USA.

2.6.3 V E , xn JE h E +iMi
+EE M-E xnE

2.6.3 Shri Sanjeev Kumar Sharma, Part Time Non-Official

Director under Chartered Accountant Category

x 18.12.2013 ix E +v E B xn

Shri Sharma has joined the Bank as Part Time Non-Official

81

JE h E +iMi +EE M E xnE E {

E Oh E* hV xiE + xn JE
E { |C] E * =xx +<B+< E =k Ij E
+Vi z x H E { Mnx n*
. V E Bb E., xn JE E |{<]
+ |vx { E Ij xnx E Sx E il
n + i E{] C<] E |vx xh x,
|VC] E], k Sx/{xSx i |nx
E * x EM k, +E, E{] v, +n
vi z x + E+ M *

Director under Chartered Accountant category w.e.f.

18.12.2013 for a period of three years. Shri Sharma is a
commerce graduate and practicing Chartered Accountant. He
contributed as speaker in various seminars held in various
cities of northern region of ICAI, New Delhi. Shri Sharma is
Proprietor of M/s Sanjeev K. Sharma and Co., Chartered
Accountants and handling assignments in the fields of
Management Consultancy and special assistants to the top
management in decision making, Project consultancy, Capital
and financial structuring / restructuring for overseas and Indian
Corporate Clients. Shri Sharma has also attended various
seminars and workshops related to Banking Finance, Income
Tax, Corporate Laws, FERA, etc. in India and overseas.

2.6.4

2.6.4 Shri Ajay Shukla, Part Time Non-official Director

+V C, +EE M-E xnE

+V C x 29.08.2013 +EE M-E xnE

E { b E Oh E* Yx xiE C BE
iji xx { v Ji * E E Ij =xE
{E +x + 25 +vE {EVM =tM
S * =x =tM M, =k |n E ] h E
{E |{i + *

Shri Ajay Shukla has joined the Board of the Bank as Part
Time Non-Official Director w.e.f. 29.08.2013. A science
graduate, Shri Shukla belongs to freedom fighter family. He
has wide experience in the field of agriculture and is running a
packaging industry for more than 25 years. He has received
Star category award from Industry Department, Government
of Uttar Pradesh.

2.6.5

2.6.5 Shri Y.P. Singh, Workmen Employee Director

<.{., EM ES xnE

<.{. x 29.08.2013 ix E +v i EM
ES xnE E { b E Oh E * x
20n 1982 E <n E E Oh E +
+{x E BE E +n V <n E ES
xx E E S Sx MB + gE ={ S E {n
{ {S* 2000 V ZJb V E l{x < i
ZJb V E <n E ES BBx E { S
x + ZJb |n E ES BBx E S x V 2012 B+<<B r +* 2013 + <b
E <{<V BBx E Exp i E n Sx MB*
E {gx + J E S *

Shri Yogeshwar Prasad Singh joined the Board as Workmen

Employee Director w.e.f. 29.08.2013 for a period of three years.
Shri Singh Joined Allahabad Bank on 20th December 1982
and within one year of his service he was elected as the Asstt.
Secretary of Bihar State Allahabad Bank Employees Union
and was elevated to the post of Dy. General Secretary. He
became the 1 st General Secretary of Allahabad Bank
Employees Union of Jharkhand State in the year 2000 when
Jharkhand State was formed and moved up to become General
Secretary of Jharkhand Pradesh Bank Employees Association
- state affiliate of AIBEA in 2012. In the year 2013 he was
elected as Central Committee member of All India Bank
Employees Association. Also, Shri Singh has keen interest in
reading and sports.

82

3. 2013-14 E nx +Vi b / i E ` E E
h
3.1 `E ix B {U xnE E ={li E h*
G. xnE E x
.

Sl.
No. Name of Director
1
E `
Shri Rakesh Sethi
2 i I {x
Smt. Shubhalakshmi Panse*
3 ]. +. S
Shri T.R. Chawla
4

01

01

03

01 -

14

17

03

04

02

07

03

02

29

05

03

16

19

10

04

01

02
($)

08

04

02

27

07

03

03

04

03

01

01

02
($)

01

05

02 -

12

14

06

03

02

02

06
($)

03

02

22

03

15

08

04

03

03

02

07 -

14

17

10

04

01

- - -

06

05

03

01

03

01

- - -

05

07

03

01

04

- - -

16

10

04

04

09

- -

15

12

02

02

01

- - -

08

02

- - -

17

11

01

02

06

04

02

- - -

08

06

01

03

01

- - -

08

02

02

- - -

17

07

05

02

03

06

01

01

15

11

04

03

02

02

01

- -

02

13

07

03

02

03

02

03

- -

03

03

03

07 -

. +E V
Shri Ashok Vij

18

01

b. n{ Sv
Dr. Sudip Chaudhuri

17

01

IT
Remu.
DPC SHIGC Com. FMC CSC Com. SIAC CAC RCB ECB

<. {.
Shri Y. P. Singh

16

RMC

M n
Shri Gour Das#

15

ACB

x E
Shri Nirmal Kumar Bari

14

MCB

+V C
Shri Ajay Shukla

13

BOARD

nx n
Shri Dinesh Dubey#

12

B B + <
i +<B

{v

n xh
Shri Deveshwar Narain Singh

11

+ b{ B BS +< +< ] BB B
B
V

V E
Shri Sanjeev Kumar Sharma

10

+. B. Sin
Shri R.M.Chaturvedi#

B. =nMi
Shri A. Udgata

b. E Cx
Dr Shashank Saksena

3.1 Details of the meetings attended by Present and Past

Directors.

+h i
Shri Arun Tiwari**

Details of the Board/Committee meeting held during

financial year 2013-14

V.E. J
Shri J.K. Singh Kharb

3.

B. {. . Bx.
Shri A. P. V. N. Sarma

* { +vI B |v xnE
** { E{E xnE #

* Past Chairman and Managing Director, ** Past Executive

Director, # Past Director, $ Special Invitee

{U xnE $ +ji
83

3.2 ]Ei E (|vx B |Eh |vx) Vx 1970 E 3.2 During the financial year 2013-14, seventeen Board
Meetings were held as detailed below as against
Jb 12 E +iMi xvi xxi U ` E E {I k
requirement of minimum six meetings under clause 12 of
2013-14 E nx b E j ` E +Vi E M<
Nationalized Bank (Management and Miscellaneous
Provisions) Scheme, 1970. The details are given below:l VxE h xxx :` E E il
b xnE E J
` E ={li xnE E J
Date of meeting
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

Number of Directors on Board

12.04.2013
24.04.2013
07.05.2013
25.05.2013
21.06.2013
13.07.2013
24.07.2013
29.07.2013
29.08.2013
27.09.2013
31.10.2013
22.11.2013
26.12.2013
11.01.2014
27.01.2014
28.02.2014
29.03.2014

Number of Directors Attended the meeting

13
13
13
13
13
13
12
12
11
13
13
13
14
13
14
12
13

12
10
11
11
12
12
12
11
11
12
12
12
14
13
14
12
12

4. b E i
4.1 b E |vx i
k j, i E E nxn E l {`i ]Ei
E (|vx B |Eh |vx) Vx 1970 lvi E +x
b E |vx i E M`x E M* { i E
{M` x E M*

4.

4.1.1 |vx i E M`x

4.1.1 Composition of the Management Committee of the

Board
The members of the Management Committee of the Board as
on 31.03.2014 were as under:

4.1 Management Committee of the Board:

The Management Committee of the Board is constituted as
per the provisions of Nationalized Bank (Management and
Miscellaneous Provisions) Scheme, 1970 as amended, read
with the directives of the Ministry of Finance, Government of
India. The committee is re-constituted from time to time.

lli 31.03.2014 E b E |vx i xxH n

l :
1.
E `
2.

3.
4.
5.
6.
7.
8.

Committees of the Board

+vI B |v xnE

Shri Rakesh Sethi

Chairman and Managing Director

]. +. S

E{E xnE

Shri T.R. Chawla

Executive Director

V.E. J

E{E xnE

Shri J. K. Singh Kharb

Executive Director

B. =nMi

E u xi xnE

Shri A.Udgata

RBI Nominee Director

<.{.

EM ES xnE

Shri Y. P. Singh

Workmen Employee Director

V E

xn JE xnE

Shri Sanjeev Kumar Sharma

Chartered Accountant Nominee Director

+V C

+EE M E xnE

Shir Ajay Shukla

Part-Time Non-Official Director

+E V

vE xnE

Shri Ashok Vij

Shareholders Director

i E +vIi i E ` , +vI B |v xnE u

E Vi *

The Committee is chaired by Shri Rakesh Sethi, Chairman

and Managing Director.

84

4.1.2 b E |vx i E E :

4.1.2 Function of the Management Committee of the

Board:

|vx i E E =SS E |i E Ei, Zi/

]] Ji bx, {V Mi il V E Ei V i{h
E { S Ex il +vI B |v xnE B
E{E xnE E |iVi +vE E ={M E I
Ex * i x M, +x{V +i V i{h
Ij Ex{nx il b u i E ni +x i{h
|vx xh E I Ei *

The function of the Management Committee is to consider

various business matters of material significance like sanction of high value proposal, compromise/write off, sanction of
capital and revenue expenditure and review the exercise of
delegated authority by the Chairman and Managing Director
and the Executive Director(s). The Committee also reviews
the performance of key areas like investment portfolio, nonperforming assets and other important management decisions
referred to the Committee by the Board.

4.1.3 `E E h :
01.04.2013 31.03.2014 E nx xxJi il E
i x 21 `E +Vi E:

4.1.3 Details of meetings:

The Committee met 21 times during the period from 01.04.2013
to 31.03.2014 as detailed below:-

` E E il

b E |vx i xnE E J

` E ={li xnE E J

Date of meeting

Number of Directors on the Management

Committee of Board

Number of Directors
Attended the meeting

12.04.2013

08

07

25.05.2013

08

07

10.06.2013

08

07

27.06.2013

08

07

13.07.2013

08

08

24.07.2013

08

08

19.08.2013

08

06

29.08.2013

08

08

14.09.2013

08

07

27.09.2013

08

07

10.10.2013

08

08

30.10.2013

08

07

22.11.2013

08

07

14.12.2013

08

08

26.12.2013

08

08

30.12.2013

07

07

11.01.2014

07

07

27.01.2014

08

08

28.02.2014

06

06

08.03.2014

07

07

29.03.2014

08

07

4.2. b E J{I i (B) :

4.2

i W E E nxn il E{] Mxx E ri

E +x E x 31.05.1994 E BE J{I i E M` x
E il = - { {xM`i E*

As per the directives of Reserve Bank of India and having

regard to the fundamentals of Corporate Governance, the Bank
originally constituted an Audit Committee on 31.05.1994 and
reconstituted the same from time to time.

85

Audit Committee of the Board (ACB)

4.2.1 Composition of the Audit Committee of the Board:

4.2.1 b E J{I i E M`x :
lli 31.03.2014 E b E J{I i xxH The member of the Audit Committee of the Board, as on
31.03.2014 were as under:n l:1.
]. +. S
E{E xnE
2.

3.
4.

5.
6

Shri T.R. Chawla

Executive Director

V.E. J

E{E xnE

Shri J. K. Singh Kharb

Executive Director

b. E Cx

E u xi xnE

Dr. Shashank Saksena

Government Nominee Director

B. =nMi

E u xi xnE

Shri A.Udgata

RBI Nominee Director

V E

xn JE xi xnE

Shri Sanjeev Kumar Sharma

Chartered Accountant Nominee Director

b.n{ Sv

vE xnE

Dr. Sudip Chaudhuri

Shareholders Director

V E , xn JE xi xnE V ME{E xnE 18.12.2013 b E J{I i E

+vI *

Shri Sanjeev Kumar Sharma, Chartered Accountant Nominee

Director who is a Non-Executive Director, is the chairman of
the Audit Committee of the Board since 18.12.2013.

V B. Sin, E u xi xn JE xnE
13.07.2013 iE J{I i E +vI l + xH E
ix E +v {i x { nxE 14.07.2013 E E
xnE x *

Shri Rajesh M. Chaturvedi Govt. nominated Chartered

Accountant Director, was the chairman of the Audit Committee
upto 13.07.2013 and ceased to be the director of the Bank
with effect from 14.07.2013 on expiry of his three years term
of appointment.

29.07.2013 17.12.2013 E +v E nx +E V,
vE xnE + |C]M xn JE J{I i
E +vI l*
4.2.2 b E J{I i E E :

During the period from 29.07.2013 to 17.12.2013, Shri Ashok

Vij, Shareholders Director and a Practicing Chartered
Accountant was the Chairman of the Audit Committee.

J{I i E E +x i E l l E E k
{]M |h E Ex B =E I Ex iE h
E ii, {{ii B xi xSi E* b E
I |ii EB Vx { i |vx E l E k
{h E I Ei *

The function of Audit Committee inter alia includes assessing

and reviewing the financial reporting system of the Bank so as
to ensure that the financial statements are correct, sufficient
and credible. It reviews with the management the annual
financial statements before their submission to the Board.

J{I i xn ni il E E +iMi M`x,

{Sx il +iE J{I + xIh E Mhk xjh
i E E i J{I E E {Sx E {Ih Ei
il E E vE/ J{I B E E xIh {
+xi E< Ei *

The Audit Committee provides direction and oversees the

operations of total audit function of the Bank including the
organization, operation and quality control of internal audit and
inspection within the Bank and follow up on the Statutory/
External audit of the Bank and RBI inspections.

i +iE xjh |h E {{ii, +iE J{I

M E Sx, <E ]M {]x E I Ei il
E i{h xE { +iE J{IE/xIE E l
S- + =x { +xi E< Ei * <E +iH
E E k B VJ |vx xi E I Ei *

The Committee also reviews the adequacy of internal control

system, structure of internal audit department, its staffing
pattern and discussion with the internal auditors/Inspectors
on any significant finding and follow-up action thereon. It further
reviews the financial and risk management policies of the Bank.

vE J{I E , J{I i E/i

k J+ + {] E +i { nx { Exp vE
J{IE E l S- Ei * M J{I
{] (BBB+) =`B MB z q { +xi E<
Ei *

Regarding Statutory Audit, the Audit Committee interacts with

the Central Statutory Auditors before finalization of Annual/
Quarterly Financial Accounts and Reports. It also follows up
on various issues raised in the Long Form Audit Report (LFAR).

4.2.2 Function of the Audit Committee of the Board:

86

4.2.3 ` E E h :

4.2.3

01.04.2013 31.03.2014 E nx xxJi il E b

E J{I i E xxx n `E +Vi E M<:

During the period from 01.04.2013 to 31.03.2014,

ten meetings of the Audit committee of the Board were held
as detailed below:-

Details of meetings:

` E E il

b E J{I i xnE E J

` E ={li xnE E J

Date of meeting

Number of Directors on the

Audit Committee of Board

Number of Directors
attended the meeting

07.05.2013

06

05

25.05.2013

06

06

13.07.2013

06

06

29.07.2013

06

05

27.09.2013

06

06

10.10.2013

06

06

31.10.2013

06

05

27.01.2014

06

06

11.02.2014

06

06

08.03.2014

06

05

4.3 b E VJ |vx i :
i V E E nxn E +x i: 04 S, 2003
E b E VJ |vx i E M`x E M B -
{ <E {xM`x E M *

4.3 Risk Management Committee of the Board:

4.3.1 b E VJ |vx i E M`x :

4.3.1 Composition of the Risk Management Committee of

the Board:

lli 31.03.2014 E b E VJ |vx i xxH

n l :-

The members of the Risk Management Committee of the Board

as on 31.03.2014 were as under:-

1.

2.

3.

4.

5.

As per the directives of the Reserve Bank of India, a Risk

Management Committee of the Board was originally constituted
on 04.03.2003 and the same has been reconstituted from time
to time.

E `

+vI B |v xnE

Shri Rakesh Sethi

Chairman and Managing Director

]. +. S

E{E xnE

Shri T. R. Chawla

Executive Director

V. E. J

E{E xnE

Shri J. K. Singh Kharb

Executive Director

V E

xn JE xi xnE

Shri Sanjeev Kumar Sharma

Chartered Accountant Nominee Director

B. {. . Bx.

vE xnE

Shri A. P. V. N. Sarma

Shareholders Director

i E +vIi E ` , +vI B |v xnE u E

Vi *
4.3.2 b E VJ |vx i E E :

The Committee is chaired by Shri Rakesh Sethi, Chairman

and Managing Director.

VJ |vx i @h, V + {Sx VJ i E

E z VJ x E B BEEi VJ |vx i xi
il hxi x{i Ei *

The Risk Management Committee devises the policy and

strategy for integrated risk management containing various
risk exposures of the Bank including Credit, Market and
Operational Risk.

4.3.2

87

Function of Risk Management Committee of the

Board:

4.3.3 Details of meetings:

4.3.3 `E E h :
01.04.2013 31.03.2014 E nx VJ |vx i E The Committee met four times during the period from
01.04.2013 to 31.03.2014 as detailed below:
S `E +Vi < VxE h xxx ` E E il
b E VJ |vx i xnE E J ` E ={li xnE E J
Date of Meeting

Number of Directors on the

Risk Management Committee of Board.

Number of Directors
attended the meeting

07

07

22.06.2013
29.08.2013

06

06

22.11.2013

06

06

28.02.2014

05

05

4.4 b E xnE {nzi i (b{) :

E x i E, k j (EM |M)E xn E +xh
xnE {nzi i E M`x E + < - {
{xM` i E M *

4.4 Directors Promotion Committee of the Board:

4.4.1 b E xnE {nzi i E M`x :

4.4.1 Composition of the Directors Promotion Committee

of the Board:

lli 31.03.2014 E xnE E {nzi i xxH

n l :-

The members of the Directors Promotion Committee of the

Board as on 31.03.2014 were as under:-

1. E `
: +vI B |v xnE
2.b. E Cx
: E u xi xnE
3. B. =nMi
: E u xi xnE
i E +vIi, E ` , +vI B |v xnE u E
Vi *

1. Shri Rakesh Sethi

Chairman and Managing Director

2. Dr. Shashank Saksena

Government Nominee Director

3. Shri A. Udgata

RBI Nominee Director

4.4.2 b E xnE {nzi i E E :

4.4.2 Function of the Directors Promotion Committee of

the Board:

xnE E {nz i i E M`x iEi B M- iEi +xxE

E x{]x E I Ex B E{] Mxx B VJ
|vx |h E v i V E B i E E
nxn E +x +ii{h +x E I Ex E
B E M *

The Directors Promotion Committee has been constituted to

review disposal of vigilance and non-vigilance disciplinary
cases and other cases of strategic importance in terms of
Reserve Bank of India (RBI) and Government of India (GOI)
guidelines on Corporate Governance and Risk Management
System.

4.4.3 ` E E h :

4.4.3 Details of meetings:

01.04.2013 31.03.2014 E nx xxH il E i

x 4 ` E +Vi E :

The Committee held 4 meetings during the period from

01.04.2013 to 31.03.2014 as detailed below:

` E E il

The Bank in pursuance to the directives of Govt. of India,

Ministry of Finance (Banking Division) constituted Directors
Promotion Committee and the same has been reconstituted
from time to time.

The Committee is chaired by Shri Rakesh Sethi, Chairman

and Managing Director.

xnE E {nzi i xnE E J

` E ={li xnE E J

Number of Directors on the Directors

Promotion Committee

Number of Directors

13.05.2013

03

03

13.07.2013
26.12.2013
11.01.2014

03
03
03

03
03
03

Date of Meeting

Attended the meeting

4.5 b E vE/xE E Ei i :

4.5 Shareholders/Investors Grievances Committee of the

Board:

E x vE + xE E Ei E xh E |Vxl
i: 04 S, 2003 E vE/xE E Ei (xh)
i E M`x E* i E - { {xM`x E
M*

The Bank originally constituted the Shareholders/ Investors

Grievances Committee on March 4th , 2003 with a purpose of
monitoring the redressal of shareholders and investors grievances/ complaints. The committee has been reconstituted from
time to time.

88

4.5.1 b E vE/xE E Ei i E M` x:

4.5.1 Composition of the Shareholders/Investors Grievances Committee of the Board:

31.03.2014 E lli i E xxH n l :

The members of the Shareholders/Investors Grievances Committee of the Board as on 31.03.2014 were as under:-

1. ].+. S
2. V.E. J

E{E xnE
E{E xnE

1. Shri T.R. Chawla

Executive Director
2. Shri J. K. Singh Kharb Executive Director

b. n{ Sv, vE xnE, +E V vE
xnE, B. {. . Bx. , vE xnE 21.02.2014
iE i E n l* nx n +EE M E
xnE16.02.2014 iE i E n l*

Dr. Sudip Chaudhuri, Shareholders Director, Shri Ashok Vij,

Shareholders Director and Shri A. P. V. N. Sarma,
Shareholders Director were the members of the committee
upto 21.02.2014. Shri Dinesh Dubey, Part-Time Non-Official
Director was the member of the committee upto 16.02.2014.

4.5.2 vE/xE E Ei i E E :

4.5.2 Function of Shareholders/Investors Grievances

Committee of the Board:
The Committee ensures that all share certificates are issued
within a period of one month of the date of lodgment for transfer,
sub-division, consolidation, renewal etc. The committee further
monitors the redressal of investors complaints in a time bound
manner. The Bank received 1909 number of complaints during
the year under review and all the complaints have been
resolved to the satisfaction of investors.

i xSi Ei E |h{j lxxih,

bVx Ex, xEh +n i +nx E il BE
x E +v E +n V VB* <E +iH, i
xE E Ei E r xh E x]M Ei
* E E Ivx E nx 1909 Ei |{i < Vx
E xh xE E i] E +x{ E V SE *
4.5.3 `E E h
01.04.2013 31.03.2014 E nx i x n ` E +Vi
E VxE h xxx *

4.5.3 Details of meetings

The Committee held two meetings during the period from
01.04.2013 to 31.03.2014 as detailed below:

` E E il

vE/xE E Ei i.
xnE E J

` E ={li xnE E J

Date of Meeting
12.04.2013

Number of Directors on the Shareholders/

Investors Grievances Committee
06

Number of Directors
Attended the meeting
05

29.08.2013

06

06

4.6 b E Sx |tME i (+<]-i)

4.6 Information Technology Committee (IT Committee) of

the Board:

E E z Sx |tME {Vx+ E Exx E xMx

i E x 24 +| 2003 E +<] i M` i E V { {xM` i E M*

The Bank constituted the IT Committee on April 24th, 2003

and it was further reconstituted from time to time.

4.6.1 b E +<] i E M`x :

lli 31.03.2014 E i xxH n l :-

4.6.1 Composition of the IT Committee of the Board:

1.
2.
3.
4.
5.
6.
7.

E `
]. +. S
V. E. J
b. E Cx
x E
b. n{ Sv
B. {. . Bx.

The members of the IT Committee of the Board as on

31.03.2014 were as under:

+vI B |v xnE
E{E xnE
E{E xnE
E u xi xnE
+vE xi xnE
vE xnE
vE xnE

1.Shri Rakesh Sethi

Chairman and Managing

Director

2. Shri T.R. Chawla

Executive Director

3. Shri J. K. Singh Kharb

Executive Director

4. Dr. Shashank Saksena

Government Nominee Director

5. Shri Nirmal Kumar Bari

Officers Nominee Director

6. Dr. Sudip Chaudhuri

Shareholders Director

7. Shri A.P.V.N. Sarma

Shareholders Director

The Committee is chaired by Shri Rakesh Sethi, Chairman

and Managing Director.

i E +vIi E ` , +vI B |v xnE u E

Vi *
89

4.6.2 b E +<] i E E :

4.6.2 Function of the IT Committee of the Board:

i E M` x E E z +<] {Vx+ E Exx E

xMx i E M *

This Committee was constituted to monitor the implementation of various IT projects of the Bank.

4.6.3 `E E h :

4.6.3 Details of meetings:

01.04.2013 31.03.2014 E nx < i E ix ` E

xxJi il E +Vi < :

This Committee held three meetings during the period from

01.04.2013 to 31.03.2014, as detailed below:

` E E il

b E +<] i xnE E J

` E ={li xnE E J

Number of Directors on the IT

Committee of Board

Number of Directors
Attended the meeting

12.04.2013

07

06

29.08.2013

07

07

29.03.2014

07

07

Date of meeting

4.7 b E vJvc xMx i :

4.7. Fraud Monitoring Committee of the Board:

E x BE Ec {B + +vE E vJvc E E
xMx + +xi E< i 28.02.2004 E vJvc xMx
i E M` x E + < - { {xM`i E M
*

The Bank has constituted Fraud Monitoring Committee on

28.02.2004 and reconstituted it from time to time with a
purpose to monitor and follow up cases of frauds involving
amount of rupees one crore and above.

4.7.1 b E vJvc xMx i E M`x :

4.7.1 Composition of the Fraud Monitoring Committee of

the Board:

lli 31.03.2014 E i xxH n l :-

The members of the Fraud Monitoring Committee of the Board

as on 31.03.2014 were as under:-

1. E `
2. b. E Cx
3. x E
4. V E
5. b. Bx.
6. b.n{ Sv

1. Shri Rakesh Sethi

+vI B |v xnE
E xi xnE
+vE xi xnE
xn JE xi xnE
+EE M-E xnE
vE xnE

2. Dr. Shashank Saksena

3. Shri Nirmal Kumar Bari
4. Shri Sanjeev Kumar
Sharma
5. Shri D. N. Singh
6. Dr. Sudip Chaudhuri

Chairman and
Managing Director
Government Nominee Director
Officers Nominee Director
Chartered Accountant Nominee
Director
Part Time Non-Official Director
Shareholders Director

i E +vIi +vI B |v xnE u E M< B E E

E{E xnE i E ` E +ji E {
={li B*
4.7.2 b E vJvc xMx i E E :

The Executive Director (s) of the Bank attended the meeting

of committee as special invitee and the meetings of the
committee were chaired by Chairman and Managing Director.

vJvc E z {+ +li vJvc E {i Mx, xE

+ |ix BV E {] Ex, il vJvc E +V nx
E r E< Ex x E nJi B +xx
{ { BE Ec {B + +vE E E vJvc E
E x]M + =x { +xi E< Ex i i
E M` x E M*

The Fraud Monitoring Committee has been constituted

exclusively for monitoring, review and follow up cases of frauds
involving amount of Rupees one crore and above, keeping
in view the delay caused in various aspects of fraud like
detecting, reporting to regulatory and enforcement agencies
and action against perpetrators of the fraud.

4.7.2 Function of the Fraud Monitoring Committee of the

Board:

90

4.7.3 Details of meetings

4.7.3 ` E E h
01.04.2013 31.03.2014 E nx vJvc xMx i The Fraud Monitoring Committee held 9 meetings during the
period from 01.04.2013 to 31.03.2014 as detailed below:E 9 ` E xxx +Vi E M< :
` E E il
b E vJvc xMx i
` E ={li xnE E J
E xnE E J
Date of Meeting

Number of Directors on Fraud

Monitering Committee of the Board

Number of Directors
Attended the meeting

05
05
05
05
05
05
06
06
06

05
04
05
05
05
05
06
06
06

12.04.2013
25.05.2013
13.07.2013
29.08.2013
22.11.2013
26.12.2013
11.01.2014
28.02.2014
29.03.2014

4.8 b E OE i :
xnE b x 9 i 2004 E +Vi ` E i
V E E Mx E nxE 14 +Mi, 2004 E {j E +x{x
OE i E M`x E + < - {
{xM`i E M * i E M`x < =q E M
iE ii +v { OE E Mhk v V E*
4.8.1 b E OE i E M`x :

4.8 Customer Service Committee of the Board:

31.03.2014 E OE i xxJi n l*

The members of the Customer Service Committee of the Board

as on 31.03.2014 were as under:-

1.
2.
3.
4.
5.

1. Shri Rakesh Sethi

Chairman and Managing Director

2. Shri T.R. Chawla

Executive Director

3. Shri J. K. Singh Kharb

Executive Director

E `
]. +. S
V. E. J
x E
<. {.

In compliance with RBI letter dated August 14th , 2004, the

Board of Directors at its meeting held on 09.09.2004
constituted Customer Service Committee and reconstituted it
from time to time. The committee has been constituted with a
view to bring out improvements in the quality of customer
service in the Bank on a continuous basis.
4.8.1 Composition of Customer Service Committee of the
Board:

+vI B |v xnE
E{E xnE
E{E xnE
+vE ES xnE
EM xnE xnE

i E +vIi E `, +vI B |v xnE u E

Vi *
4.8.2 b E OE i E E:

Officers Employee Director

5. Shri Y. P. Singh

Workmen Employee Director

The Committee is chaired by Shri Rakesh Sethi, Chairman

and Managing Director.
4.8.2 Function of the Customer Service Committee of the
Board:

|E E OE E OE i] i v Ex
+ OE E Mhk E gx i xx ={ Ex*

To innovate measures for enhancing the quality of customer

service and improve the level of customer satisfaction to all
categories of clientele at all times.

4.8.3 `E E h :
01.04.2013 31.03.2014 E n x i E 4 `E xxJi
il E +Vi E M< ` E E il

4. Shri Nirmal Kumar Bari

4.8.3 Details of meetings:

The Committee held 4 meetings during the period 01.04.2013
to 31.03.2014 as detailed below:

OE i
xnE E J

` E ={li xnE E J

Number of Directors on the

Customer Service Committee

Number of Directors
Attended the meeting

25.05.2013

07

06

29.08.2013

06

06

22.11.2013

07

07

28.02.2014

05

05

Date of Meeting

91

4.9 b E {v i :
i E, k j, +lE E M, EM |M E
nxE 9 S 2007 E +vSx B. . 20/1/2005-++<
E +x VxE Ij E E E {hEE xnE x{nx
r |ix E {j M i E I + MhiE {]
v + h + {U E nx z +x{x {]
vi SE { +vi Ex{nx Ex ]C i
i jiE { ] E b u |{i E M * Ex{nx
E Ex b E ={ i- {v i u E
VBM V E u xi xnE, E u xi
xnE il n +x xnE M*

4.9 Remuneration Committee of the Board:

4.9.1 xnE b x 23.03.2007 E +{x ` E Ex{nx

Vc |ix E |Vx i {hEE xnE E Ex{nx
E Ex Ex E =q {v i E M`x E*
i E - { {xM`x E M *

4.9.1 The Board of Directors in its meeting dated 23.03.2007

constituted the Remuneration Committee to evaluate the
performance of the whole time directors for the purpose of
performance linked incentives. The Committee has since been
reconstituted from time to time.

4.9.2. b E {v i E M`x :

4.9.2 Composition of Remuneration Committee of the

Board:

lli 31.03.2014 E b E {v i xxJi

n l :

The members of the Remuneration Committee of the Board

as on 31.03.2014 were as under:-

1. b. E Cx
2. B. =nMi
3. +E V

1. Dr. Shashank Saksena Govt. Nominee Director

In terms of Govt. of India, Ministry of Finance, Department of

Economic Affairs (Banking Division) notification F.No. 20/1/
2005-BOI dated 9th March, 2007, whole time directors of the
Public Sector Banks will be entitled to performance linked
incentives, subject to achievement of broad quantitative
parameters fixed for performance evaluation matrix, based on
the Statement of Intent on goals and qualitative parameters
and bench marks based on various compliance reports during
the last year. Sub Committee of the Board called
Remuneration Committee consisting of Govt. Nominee
Director, RBI Nominee Director and two other Directors would
do the evaluation of performance.

E u xi xnE
E u xi xnE
vE xnE

4.9.3.b E {v i E E :
Ex{nx r |ix E |Vxl {hEE xnE E
Ex{nx E E Ex*
4.9.4. `E E h :
01.04.2013 31.03.2014 iE i E n ` E xxx
+Vi <*
` E E il

2. Shri A.Udgata

RBI Nominee Director

3. Shri Ashok Vij

Shareholders Director

4.9.3 Function of Remuneration Committee of the Board:

To evaluate the performance of the whole time directors for
the purpose of performance linked incentives.
4.9.4 Details of meetings:
The Committee held two meetings during the period from
01.04.2013 to 31.03.2014, as detailed below:

b E {v
i xnE E J

` E ={li xnE E J

Number of Directors on the

Nomination Committee of Board

Number of Directors
Attended the meeting

24.04.2013

04

03

27.01.2014

04

04

Date of Meeting

4.10 b E xEx i :
i V E E nxE 1 x 2007 E {jE b+b .
.. 47/29.32.001/2007-08 E +x 21.04.2008 E
b E xEx i E M` x E M* i E
{ {M`x E M*
4.10.1 b E xEx i E M`x :
31.03.2014 E lli b E xEx i xxJi
n l:
1. b. E Cx
E u xi xnE
2. b. Bx.
+EE M-E xnE

4.10 Nomination Committee of the Board:

In terms of Reserve Bank of India letter DBOD No. BC. No.
47/29.39.001/2007-08 dated Nov. 1, 2007, the Bank constituted
Nomination Committee of the Board on 21.04.2008. The
Committee has been reconstituted from time to time.
4.10.1 Composition of Nomination Committee of the Board:
The members of the Nomination Committee of the Board as
on 31.03.2014 were as under:-

92

1. Dr. Shashank Saksena

Govt. Nominee Director

2. Shri D. N. Singh

Part-Time Non-Official
Director

 nx n, +EE M-E xnE 06.02.2014 iE

i E n l*

Shri Dinesh Dubey, Part-Time Non-Official Director was the

member of the committee upto 16.02.2014.

4.10.2 b E xEx i E E :
xEx i E EE E{x (={G E +Vx + +ih)
+vx 1970 E v 9(3)(i) E +iMi Vn xSi xnE/
xnE E { xSi x H E M B =Si i
E Si iEi E l xvh Ex E |G { Ex i
*
k 2013-14 E n x xEx i E E< `E +Vi
x E M<*
4.11 xM B +]x i:
4.11.1 E E xnE b x nxE 18.02.2011 E +Vi
+{x ` E xM B +]x i E M`x E*i
E - { {xM`i E M*
4.11.2 xM B +]x i E M`x

4.10.2 Function of Nomination Committee of the Board:

31.03.2014 E xM B +]x i xxJi

n l
1. E `
+vI B |v xnE
2. ]. +. S
E{E xnE
3. V. E. J
E{E xnE
4. x E
+vE ES xnE

The members of the Share Issue and Allotment Committee of

the Board as on 31.03.2014 were as under:

4.11.3

The Nomination Committee have to undertake a process of

due diligence to determine the Fit and Proper status of
existing elected directors/the person to be elected as a director
under Sec. 9 (3) (i) of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970.
During the Financial Year 2013-14, no meeting of the
Nomination Committee was held.
4.11 Share Issue and Allotment Committee:
4.11.1 The Board of Directors of the bank in its meeting dated
18.02.2011 constituted Share Issue Allotment Committee. The
Committee has been re-constituted from time to time.
4.11.2 Composition of Share Issue and Allotment
Committee:

1. Shri Rakesh Sethi

2. Shri T.R. Chawla
3. Shri J. K. Singh Kharb
4. Shri Nirmal Kumar Bari

xM B +]x i E E

Chairman and Managing

Director
Executive Director
Executive Director
Officers Employee Director

4.11.3 Function of Share Issue and Allotment Committee:

i +vx/C+<{ +]x +v { <C] E xM

B +]x E v l+{Ii E Ex + <x xx
]E BCSV B ]E BCSV Sr Ex E B
|vEi *

The committee is authorized to do all such acts, deeds and

things as may be required in connection with the issue and
allotment of Equity Shares on preferential/QIP allotment basis and get the same listed with the National Stock Exchange
and Bombay Stock Exchange.

4.11.4 ` E E h

4.11.4 Details of meetings:

01.04.2013 31.03.2014 E +v E n x i E xxx

n ` E +Vi <

The Committee held two meetings during the period from

01.04.2013 to 31.03.2014 are detailed below:

` E E il

b E {v
i xnE E J

` E ={li xnE E J

Number of Directors on the Share

Issue and Allotment Committee
of Board

Number of Directors
Attended the meeting

23.11.2013

04

04

24.12.2013

04

04

Date of Meeting

4.12

4.12 @h +xnx i :
i E, k j E nxE 05.12.2011 E V{ji
+vSx J 13/1/2006 + < v +iH {]Eh
E +x E x `400 Ec iE E @h |i E +xnx +
`2 Ec iE E @h Zi/<]-+ |i E +xnx E
=q 22.02.2012 E b E @h +xnx i E M` x
E *

Credit Approval Committee of the Board:

In terms of Govt. of India, Ministry of Finance Notification vide

Gazette Notification no. 13/1/2006 dated 05.12.2011 and
further clarification in this regard, the Bank has constituted a
Credit Approval Committee of the Board on 22.02.2012 for
the purpose of approval of the credit proposals upto `400 Crore
and Loan Compromise/Write-Off proposals upto `2 Crore.

93

4.12.1 b E @h +xnx i E M`x :

4.12.1 Composition of the Credit Approval Committee of

the Board:

b E @h +xnx i E M`x xxx l

The Credit Approval Committee of the Board consists of the

following:-

(B) +vI B |v xnE

() n E{E xnE
() |vE (k B J)
(b) |vE (@h)
(<) |vE (+<+B)
4.12.2 @h +xnx i E E :

(a) Chairman and Managing Director

(b) Two Executive Director(s)
(c) General Manager (F & A)
(d) General Manager (Credit)
(e) General Manager (IRM)
4.12.2 Function of Credit Approval Committee of the Board:

B) `400 Ec iE E @h |i (xvE B M-xvE) E

Ei
) `2 Ec iE E @h Zi/<] + |i E +xnx
4.12.3 `E E h :
01.04.2013 31.03.2014 E nx @h +xnx i E
32 ` E xxx +Vi E M<:
` E E il

a)

Sanctioning of Credit Proposals of upto `400 Crore

[Funded and Non-Funded]

b)

Approval of Loan Compromise/Write-Off proposals of

upto `2 Crore

4.12.3 Details of meetings:

The Credit Approval Committee held 32 meetings during the
period from 01.04.2013 to 31.03.2014, as detailed below:-

b E @h +xnx i E n E J

` E ={li n E J

Number of members on the Credit

approval Committee of Board

Number of Members attended

Attended the meeting

17.04.2013
23.04.2013

06
06

06
06

30.04.2013
16.05.2013
24.05.2013
01.06.2013
17.06.2013
27.06.2013
12.07.2013
27.07.2013
10.08.2013
17.08.2013
29.08.2013
09.09.2013
21.09.2013
26.09.2013
07.10.2013
09.10.2013
21.10.2013
28.10.2013
08.11.2013
20.11.2013
29.11.2013
19.12.2013
30.12.2013
03.01.2014
14.01.2014
25.01.2014
30.01.2014
18.03.2014
22.03.2014
28.03.2014

06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
06
05
06
05
06
06
06
06
06

06
05
05
06
06
05
06
06
05
06
06
05
06
06
06
05
05
06
06
05
04
05
05
06
04
06
06
06
06
06

Date of Meeting

94

4.13 b E i:
k j,i E E nxn E +x 27.11.2012
E +Vi b `E |G E x]M Ex +
xi +v { E E ij E I Ex i b E
i E M`x E M * b u i E -
{ {xM` x E M*
4.13.1 b E i E M`x

4.13

31.03.2014 E b E i xxJi n l

The members of the Recovery Committee of the Board as on

31.03.2014 were as under:

1. E `

+vI B |v xnE

1.

Shri T.R. Chawla

2. ]. +. S

E{E xnE

2.

Shri J. K. Singh Kharb Executive Director

3.

Dr. Shashank Saksena Government Nominee Director

3. V. E. J

E{E xnE

4.

Shri A.Udgata

RBI Nominee Director

4. b. E Cx

E xi xnE

5.

Shri Sanjeev Kumar

Chartered Accountant

Sharma

Nominee Director

5. b. n{ Sv

vE xnE

Dr. Sudip Chaudhuri

Shareholders Director

As per the directives of the Ministry of Finance, Government

of India, Recovery Committee of the Board was constituted at
the Board Meeting held on 27.11.2012 to monitor the progress
of recovery and to review the recovery mechanisms of the
Bank on regular basis. The committee has been reconstituted
by the Board from time to time.
4.13.1 Composition of the Recovery Committee of the
Board

i E +vIi +vI B |v xnE u E Vi

4.13.2

Recovery Committee of the Board

Executive Director

The Committee is chaired by the Chairman and Managing

Director.

b E i E E

4.13.2 Function of the Recovery Committee of the Board:

i E E |G E x]M Ex + xi
+v { E E ij E I Ex *

The function of the Recovery Committee is to monitor the

progress of recovery and to review the recovery mechanisms
of the Bank on regular basis.

4.13.4 ` E E h

4.13.3 Details of meetings:

01.04.2013 31.03.2014 E +v E n x i E xxx

7 ` E +Vi <

The Committee met 07 times during the period from

01.04.2013 to 31.03.2014 as detailed below:-

` E E il

b xnE E J

` E ={li xnE E J

Number of Directors on the

Audit Committee of Board

Number of Directors
Attended the meeting

21.06.2013
30.10.2013
22.11.2013
26.12.2013
11.01.2014
28.02.2014

05
05
05
05
04
04

05
04
05
05
04
04

29.03.2014

05

05

Date of meeting

4.14 b E xSx i:
k j,i E E nxn E +x 30.05.2012
E +Vi b `E b E xSx i E M`x E
M* i |vE(]V) E |vEi Ei E E E
E +vE E =x E{x E E + + +vh
+ E E |ixvi Ex E B |vEi E V
E + ] vi Ei *

95

4.14 Election Committee of the Board

As per the directives of the Ministry of Finance, Government of
India, Election Committee of the Board was constituted at the
Board Meeting held on 30.05.2012. The Committee authorizes
the General Manager (Treasury) to authorize an officer of the
Bank to represent the Bank in Annual General Meetings and
Extraordinary General Meetings of the Companies in which
our Bank holds Shares and vote as per its decision.

4.14.1 b E xSx i E M`x

lli 31.03.2014 E b E xSx i xxJi
n l:
1. E `
+vI B |v xnE
2. ]. +. S
E{E xnE
3. V. E. J
E{E xnE
4. b. Bx.
E xi xnE
5. +E V
vE xnE
6. B. {. . Bx. vE xnE

4.14.1 Composition of the Election Committee of the Board

The members of the Election Committee of the Board as on
31.03.2014 were as under:
Shri Rakesh Sethi

Chairman and Managing Director

2.

Shri T.R. Chawla

Executive Director

3.

Shri J. K. Singh Kharb Executive Director

4.

Shri D. N. Singh

Part-Time Non-Official Director

5.

Shri Ashok Vij

Shareholders Director

6.

Shri A. P. V. N. Sarma

Shareholders Director

The Committee is chaired by the Chairman and Managing

Director.

i E +vIi +vI B |v xnE u E Vi

4.14.2 Function of the Election Committee of the Board:

b E xSx i E E
i +{x vE =Si =n E Sx E
+xni Ei V VxE Ij E E, E{x +
k l+, Vx E E , E xnE xx i Sx
=i V E <E B i x |vE (]V) E |vEi
E E E E E +vE E B E{x, +{x E E
UcE, E E + + +vh + E E
|ixvi Ex E B |vEi E*
4.14.3 ` E E h
01.04.2013 31.03.2014 E +v E n x i E xxx
3 ` E +Vi <
4.14.2

` E E il

1.

The Committee approves selection of most suitable

candidates(s) amongst shareholders contesting election to
become Directors in Public Sector Banks, Insurance
Companies and Financial Institutions (FIs) where the Bank
holds share by authorizing the General Manager (Treasury)
to authorize an officer of the Bank to represent the Bank in
Annual General Meetings and Extraordinary General Meetings
of such Companies, except our own Bank.
4.14.3 Details of meetings:
The Committee met 03 times during the period from 01.04.2013
to 31.03.2014 as detailed below:-

b xnE E J

` E ={li xnE E J

Number of Directors on the

Audit Committee of Board

Number of Directors
Attended the meeting

13.07.2013

06

05

29.08.2013

06

06

21.11.2013

06

06

Date of meeting

E E xnE b E 17.12.2012 E +Vi ` E b

i +ih i E M Ex E xh M +
+vI B |v xnE E E{E i +ih i E
M`x i |vEi E M* inx E E +vI B |v
xnE x +ih, ]x +xv E +xnx i B M
B/ JB B/S B E n b{E] V Ex i
E{E i +ih i E M`x E +xni E*
E{E i +ih i E ` E E Ek +vE
{ xnE b E I +xlx i |ii EB Vi *

The Board of Directors of the Bank in its meeting dated

17.12.2012 decided to discontinue the Board level Share
Transfer Committee and authorised the Chairman and
Managing Director to constitute an Executive Level Share
Transfer Committee. Accordingly, the Chairman and Managing
Director of Bank, approved constitution of an Executive Level
Share Transfer Committee for approving Share Transfer,
Transmission requests and issue of duplicate shares against
the shares reported to have been lost/misplaced/stolen. The
minutes of the Executive Level Share Transfer Committee
meetings are placed periodically before the Board of Directors
for ratification.

5. xnE E {v :

5. Remuneration to Directors:

M-E{E xnE E j B k i n Vx
{v i E/i V E E nxn E +x
|nx E V *

The remuneration including traveling and halting expenses to

the Non- Executive Directors is paid as decided by the
Government of India /RBI guidelines.

96

5.1 2013-14 E nx E E {hEE xnE +li

+vI B |v xnE B E{E xnE E Mix EB MB
ix B |ix E h xxx :
G

Sl
No.

1.

x
Name

ix

M< k

|ix

Basic Pay

Dearness
Allowance
`)
(`

Arrear

Incentives

(`
`)

(`
`)

(`
`)

43838.70

770855.00

641750.00

47490.00

797550.00

673010.00

40885.00

148870.97

133983.87

583741.94

480582.75

40885.00

- 650000.00

650000.00

- 650000.00

650000.00

674741.00 2134836.00

- 800000.00

800000.00

713594.00 2225039.00
-

282854.84

+h i (E.x.)
780400.00 1885609.69

b. E (.{.E.x.)
Shri D. Sarkar (Ex-ED)

8.

92548.38

V. E. J (E.x.)
Shri Arun Tiwari, (Ex-ED)

7.

]. +. S (E.x)
Shri J.K. Singh Kharb, (ED)

6.

(`
`)

V. {. n+ (.{. +.|.x.)
Shri T. R. Chawla, (ED)

5.

(`
`)

Total

48709.68

Shri J.P. Dua ( Ex-CMD)

4.

Leave
Encashment

i I {x (.{. +.|.x.)
Smt. Shubhalakshmi Panse,
( Ex-CMD)

3.

+E
xEnEh

E ` (+.|.x.)
Shri Rakesh Sethi, CMD

2.

5.1 The details of salary including incentives paid to the wholetime Directors of the Bank past and present, i.e. Chairman
and Managing Director (CMD) and Executive Director (ED)
during the financial year 2013-14 are as under:

B. +. xE (.{.E.x.)
Shri M.R. Nayak (Ex-ED)

ix +{x xnE i E E ]E +{x {x x *

At present, the Bank does not have stock option plan for its
directors.

5.2 18.10.2011 M-E{E xnE E |iE b ` E

={li x i `10,000/- + b E i E ` E
={li x i `5,000/- E Mix E V * il{,
E E +vI B |v xnE, E{E xnE + E u
xi xnE, E ]M E E Mix x E Vi*

5.2 With effect from 18.10.2011, the Non-Executive Directors

are being paid a sitting fee of `10,000/- for attending each
Board Meetings and `5000/- for Committee Meetings. Sitting
fees are, however, not paid to the Chairman and Managing
Director, Executive Directors of the Bank and Government
Nominee Directors.

6. Vx b ` E:
6.1 E E Mi ix E vh ` E E h xxx
:

6. General Body Meetings:

6.1 Particulars of past three Annual General Meetings of the
Bank.

`E E {

`E E iJ

lx

|Vx

Nature of Meeting

Date & Time

Venue

Purpose

x E + `E

G 10 Vx 2011
{x 10.30 V

<]x Vx ES x],
1-201, C]-***,
] E ],
EEi -700 106

Ninth Annual General

Meeting

Friday, the 10th June,

2011, 10.30 A.M.

Eastern Zonal Cultural

Centre, IB-201, Sector-III,
Salt Lake City,
Kolkata-700 106

97

31.03.2011 E lli E E ix {j,

31 S 2011 E {i i E E

x J, J+ u E E M< +v
i E E G E{ E v xnE
b E {] il J+ B ix{j {
J{IE E {] { SS, +xnx
+ +MEh, <C] { Pi
Ex*

To discuss, approve & adopt the Balance

Sheet of the Bank as at 31-03-2011, Profit
& Loss Account of the Bank for the year
ended 31st March, 2011, the Report of
the Board of Directors on the working and
activities of the Bank for the period
covered by the Accounts, the Auditors
Report and to Declare Dividend on Equity
shares.

`E E {

`E E iJ

lx

|Vx

Nature of Meeting

Date & Time

Venue

Purpose

n E + `E

M 14 Vx 2012
{x 10.30 V

<]x Vx ES x],
1-201, C]-***,
] E ],
EEi -700 106

31.03.2012 E lli E E ix {j,

31 S 2012 E {i i E E

x J, J+ u E E M< +v
i E E G E{ E v xnE
b E {] il J+ B ix{j {
J{IE E {] { SS, +xnx
+ +MEh, <C] { Pi
Ex*

Tenth Annual
General Meeting

Thursday, the 14th June,

2012,
10.30 A.M.

Eastern Zonal Cultural

Centre, IB-201, Sector-III,
Salt Lake City,
Kolkata-700 106

To discuss, approve & adopt the Balance

Sheet of the Bank as at 31.03.2012, Profit
& Loss Account of the Bank for the year
ended 31st March, 2012, the Report of
the Board of Directors on the working and
activities of the Bank for the period
covered by the Accounts, the Auditors
Report and to declare Dividend on Equity
shares.

M E +
`E

17 Vx 2013
{x 10.30 V

<]x Vx ES x],
1-201, C]-***,
] E ],
EEi -700 106

31.03.2013 E lli E E ix {j,

31 S 2013E {i i E E
x J, J+ u E E M< +v
i E E G E{ E v xnE
b E {] il J+ B ix{j {
J{IE E {] { SS, +xnx
+ +MEh, <C] { Pi
Ex*

Eleventh Annual
General Meeting

Monday, the 17th June,

2013, 10.30 A.M.

Eastern Zonal Cultural

Centre, IB-201, Sector-III,
Salt Lake City, Kolkata-700
106

To discuss, approve and adopt the

Balance Sheet of the Bank as at
31.03.2013, Profit and Loss Account of
the Bank for the year ended 31st March,
2013, the Report of the Board of Directors
on the working and activities of the Bank
for the period covered by the Accounts,
the Auditors Report and to declare
Dividend on Equity shares.

6.2 ={H ix E + E< E{ {i x

E M l*
6.3 17.06.2013 E +Vi {U E vh ` E
xxJi xnE ={li l*
i I {x
+vI B |v xnE

6.2 No Special Resolution was passed in the aforesaid three

Annual General Meeting.
6.3 The following Directors were present in the last Annual
General Meeting held on 17.06.2013
Smt. Shubhalakshmi Panse

Chairman and Managing

Director

]. +. S
+h i
+. B. Sin
nx n
x E
M n
b. n{ Sv
B. {. . Bx.

E{E xnE
E{E xnE
xn JE xi xnE
B b E J{I i E
+vI
+EE M E xnE
+vE ES xnE
EM ES xnE
vE xnE
vE xnE

Shri T.R. Chawla

Executive Director

Shri Arun Tiwari

Executive Director

Shri R. M. Chaturvedi

C.A. Nominee Director and

Chairman
Audit Committee of the Board

98

Shri Dinesh Dubey

Part Time Non-Official Director

Shri Nirmal Kumar Bari

Officers Employee Director

Shri Gour Das

Workmen Employee Director

Dr. Sudip Chaudhuri

Shareholders Director

Shri A.P.V.N. Sarma

Shareholders Director

6.4 k 2013-14 E nx {] ] u E<

E{ {i x E M* il{ E E vE x nxE
24.12.2013 E +Vi +vh + xxJi E
+xnx Ei B n E{ {i EB*

6.4 No Special Resolution was passed by postal ballot during

the financial year 2013-14. However, the shareholders of the
Bank in the Extraordinary General Meeting held on 24.12.2013
passed two Special Resolutions approving the following:

(B) `10/-({B n j) |iE E +Ei E

4,45,83,147(S Ec {i J i V
BE i j ) <C] E `89.72 ({B
x + { k j) E xEn xM { |i
, `79.72 ({B =x + { k j) |i
| i i E(i E ]{i) E E
`400 Ec ({B S Ec j) +vx +v
{ Vx, {E, xM + +]x V E
(+<b+) x 2009 E x 76 (1) E
+x b/i u xvi E M *

(a) To create, offer, issue and allot upto 4,45,83,147 (Four

Crore Forty Five Lac Eighty Three Thousand One
Hundred and Forty Seven Only) equity shares of face
value of `10/-(Rupees Ten only) each for cash at an
Issue Price of `89.72 (Rupees Eighty Nine and Paise
Seventy Two only) per share including premium of
`79.72 (Rupees Seventy Nine and Paise Seventy
Two only) per share as determined by the Board /
Committee in accordance with Regulation 76 (1) of
SEBI (ICDR) Regulations, 2009 aggregating upto
`400.00 Crore (Rupees Four Hundred Crore only)
on preferential basis to Government of India
(President of India).

() `10/-({B n j) |iE E +Ei { B

<C] E |i xEn xM {, |i
| i V E (+<b+) x 2009
E x 85(1) E +x b/iu xvi
E M + +x |V Exx, x + x,
n E< E +x E .320 Ec ({B ix
Ec j) iE C<b <]]x {]
(C+< {)+v { C<b <]]x Gi+
E < i Vx, {E, xM + +]x Ex
E i E(i E ]{i) E E |nk <C]
{V E 55.24% E vh Ex V x JM*

(b) To create, offer, issue and allot upto such number of

equity shares of the face value of `10/-(Rupees Ten
only) each for cash at an such Issue Price of per
equity share including premium as determined by the
Board/ Committee in accordance with Regulation
85(1) of SEBI (ICDR) Regulations, 2009 and other
applicable Laws, Rules and Regulations, if any,
aggregating upto `320.00 Crore (Rupees Three
Hundred and Twenty Crore only) to Qualified
Institutional Buyers on Qualified Institutions
Placement (QIP) basis in such a manner that the
Government of India (President of India) shall
continue to hold not less than 55.24 % of the paid-up
Equity Capital of the Bank.

`10/-|iE

E +Ei E 4,45,83,147<C] E `89.72

({B x + { k j) E xEn xM { |i ,
`79.72 ({B =x + { k j) |i | i
i E(i E ]{i) E E `400 Ec +vx
+v { Vx, {E, xM + +]x V E (+<b+)
x 2009 E x 76(1) E +x b/i u xvi
E M V (+<b+) x 2009 + +x |V
Exx, x + x E {h +x{x vE E
E{ E +xh { E M * E x =H <C] E
]E BCSV +li BxB< + B< Sr E *

The issue and allotment of 4,45,83,147 equity shares of face

value of `10/- each for cash at an Issue Price of `89.72 (Rupees
Eighty Nine and Paise Seventy Two only) per share including
premium of `79.72 (Rupees Seventy Nine and Paise Seventy
Two only) per share as determined by the Board / Committee
in accordance with Regulation 76 (1) of SEBI (ICDR)
Regulations, 2009 aggregating upto `400.00 Crore on
preferential basis to Government of India (President of India),
pursuant to Special Resolution of the Shareholders have been
completed in full compliance with SEBI (ICDR) Regulations,
2009 and other applicable Laws, Rules and Regulations. The
Bank has got the said equity shares listed with the Stock
Exchanges namely NSE and BSE.

C+<{ +v { <C] E xM + +]x E i {

n Vx * E x < v +E +xnx i i
E {E E *
7. + xi
E +{x Miv + {Sx , V Si Ei
, SS xi{E xnb, x` B Ei E B |ir
+ <x E E ES/+vE u ]S, EnS,
+vE E n{M E Ex E B |h + |Gv
xvi E * E x ] n/+vE, OE + E E
{E +x + Vxi E n E S E Ei
+l xnx Ei H B {n |h E |ii E
*
E Exp iEi +M E {v +i * + < |E E
x < v i E E nxn E +x BE
+ { i E *

The issue and allotment of equity shares on QIP basis is yet

to be materialized. The Bank has approached the Government
of India for necessary approval in this regard.
7. Whistle Blower Policy
The Bank is committed to the highest standards of ethics,
integrity and professionalism in all the activities and operations
that it conducts and has defined systems and procedures in
place to root out corruption, malpractices and abuse of authority
by the employees/ officers in the Bank. The Bank encourages
an open and transparent system of working and dealings
between the members of staff/officers, customers and
members of general public coming into contact with the Bank.
The Bank comes within the purview of Central Vigilance
Commission. As such, the Bank has framed a Whistle Blower
Policy in line with the Govt. of India guidelines in this regard.

99

{ E x + E + { VE =q
{lx E ii {i Mx + =E xxi
x{]x Ex* E E +vE B ES |Si E
M E =xE u x E |E]Eh E M{xi xSi E
VBM + + E E |E E HMi |iv, V
+{xi Ex, {x Ex +l +x +xSi E< Ex
+l =E VxE i |E]Eh E Eh < x E {<
Ex V E< Ih |nx E VBM* xi E i
E E <] www.allahabadbank.in { ={v *
E E E EE E J{I i x <xE
x M *
8. |E]Eh :
E x x EM EB Vx E <i +{x
|]/xnE, |vx + =xE v +n E l E< B
i{h xnx x EB Vx Oi: E E i E l
]E E x *

The policy namely ALL-Bank Whistle Blower Policy aims

at quickly spotting aberrations and dealing with it in the shortest
possible time. It has been disseminated among the employees
and officers of the Bank ensuring them full confidentiality
against disclosure of names and protection to the Whistle
Blower against any personal vindictive actions such as
humiliation, harassment or any other form of unfair treatment
or subjecting to any kind of loss on account of his public interest
disclosures. The content of the policy is made available on
Banks website www.allahabadbank.in.

E x {V V vi i +{I+ E +x{x E
il +x ]E BCSV +l vE/xE |vEh
u {U ix E { E< +lnb x M M +
x <E +Sx E M< *
E i l|V ]E BCSV E l S E E Jb 49 E
+x +{I E E x {x E *

The Bank has complied with all the requirements regarding

capital market and has not been imposed with any penalty or
stricture by the Stock Exchanges or SEBI or by any Statutory
Authority related to capital market, during the last three years.

2013-14 i E{] Mxx { vE Exp J {IE

E |h{j < {] E l Mx *
+vI B |v xnE +li E E J EE +vE il
|vE (k B J) B B+ +li ]E BCSV E
l ]M E E Jb 49 V l xvi E E k E
E |J H |h{j |{i E M + b E I |ii
E M V < E {] E l Mx *

A certificate of the Statutory Central Auditors on Corporate

Governance for the year 2013-14 is annexed to this report.

|vx SS + h {] xnE E {] E + *

Management discussion and analysis report forms part of the

Directors Report.

8.1 M-+vniE +{IB :

M-+vniE +{I+ E Exx xxx

8.1 Non-Mandatory Requirements:

No personnel of the Bank have been denied access to the

Audit Committee.
8. Disclosures:
Other than those in the normal course of banking business,
the Bank has not entered into any materially significant
transactions with its Promoter/Directors, Management, their
relatives etc. that may have potential conflict with the interest
of the Bank at large.

The Bank has complied with mandatory requirement of Clause

49 of the Listing Agreement with the Stock Exchanges as
applicable to the Bank.

A Certificate from the Chairman and Managing Director i.e.

the Chief Executive Officer of the Bank and General Manager
(F & A) and CFO i.e. the person heading the finance function
of the Bank, as stipulated in Clause 49 V of the Listing
Agreement with Stock Exchanges, has been placed before
the Board and is annexed to the Annual Report.

The extent of implementation of non-mandatory requirements

is furnished hereunder

+{I

+x{x

REQUIREMENT

COMPLIANCE

E{x b E n E E{x E b E l-l

E{x E {] E VJ |<,xnE E {
=kni + =x i fM xx E |Ii E

+<B/]/Bx+<B il +x +vEi l+ u +Vi

EB Vx |Ih EG xnE E |Ih i xi
E Vi *

Company may train its Board members in the Business model

of the Company as well as the risk profile of the business
parameters of the company, their responsibilities as Directors
and the best way to discharge them

The Directors are nominated for training programs as and when

organized by IBA/BTC/NIBM and other accredited institutions

9. |h E v :
E |tME + S v E =zx + E V E
x E xi + <E l E x +{x
ivE E =xE v +x SxB |nx Ex E +Ei
E E E * E =x i ]E BCSV E i/
U/E k {h |i Ei V E E Sr

9. Means of Communication:
The Bank appreciates the benefit accruing to the society with
the advent and advancement of technology and means of
communications and further recognizes the need of keeping
its stakeholders informed of the events of their interest. The
quarterly/half yearly/ annual financial results of the Bank are

100

* <x vE +{I E +x BE ] S {j il
BE EEi li Ij E S {j |Ei E
Vi * 2013-2014 E nx i k {h +Oh
S {j |Ei EBMB +li Vx ]hbb (+OV
+ xn), x](+OV), n xn Vx<x (+OV), n <ExE
]< (+MV), n ]O (+OV), +V(xn), nxE VMh(xn),
<+< (M), +xn V {jE(M) il ix (M)
+n |Ei EB MB l* {h E E E <]
www.allahabadbank.in { |ni E M*
E/lMi xE E EB MB |Vx]x E E <]
www.allahabadbank.in { nB MB *

informed to all the Stock Exchanges where the shares of the

Bank are listed. These are published in one national newspaper
and one regional language newspaper based at Kolkata as
per statutory requirement. During the financial year 2013-14,
the quarterly financial results were published in leading
newspapers namely Business Standard (English and Hindi),
Mint (English), The Hindu-Businessline (English), The
Economic Times (English), The Telegraph (English), The Aaj
(Hindi), Dainik Jagran (Hindi), Ei Somay (Bengali), Aanad
Bazaar Patrika (Bengali) and Bartman (Bengali) etc. The
results are also displayed on the web site of the Bank
www.allahabadbank.in.

10. vE i vh Sx
10.1 12 E vh ` E E h

10. General Shareholders Information:

nx + nxE

lx

The presentation made to the analysts/institutional investors

are hosted on the Banks Website www.allahabadbank.in

10.1 Particulars of 12th Annual General Meeting:

Day and Date

M, 26 Vx, 2014
{x 10.30
<]x Vx ES ],
+< -201, C]-***,
] E ], EEi - 700106

Thursday, 26th June, 2014

Time

10.30 A.M.

Venue

Eastern Zonal Cultural Centre, IB-201,

Sector-III, Salt Lake City,
Kolkata-700 106

10.2 k {h (+xi) E |Ex i k B

Eb :
E E k +| S *
xxJi iJ E {i +v i i {h E +xnx

10.2 Financial Year and Calendar for Publication of

Financial Results (Tentative):

30
30
31
31

June 30, 2014

- End of July, 2014

September 30, 2014

- End of October, 2014

December 31, 2014

- End of January, 2015

March 31, 2015

- Audited Annual Accounts:

April- May, 2015

Vx, 2014
i 2014
n 2014
S 2015

V<, 2014 E +i
+H, 2014 E +i
Vx 2015 E +i
J{Ii E J
+|-< 2015

The Financial Year of the Bank is April to March

Approval of quarterly results for the period ending

10.3 E + i E CV

10.3 Book Closure for AGM:

x 14 Vx, 2014 M 26 Vx, 2014 (nx nx

)
10.4 ]M

From Saturday, the 14th June, 2014 to Thursday, the 26th

June, 2014 (Both days inclusive)

E E <C] xx ]E BCSV(BxB<) + ]E
BCSV (B<) Sr * +x h xxx *

The equity shares of the Bank are listed with National Stock
Exchange (NSE) and Bombay Stock Exchange (BSE). The
other details are as under:-

10.4 Listing:

]E BCSV

]E Eb

]M E il

Stock Exchange

Stock Code

Date of Listing

xx ]E BCSV (BxB<)

BBE

National Stock Exchange (NSE)

ALBK

27.11.2002

532480

27.11.2002

< ]E BCSV (B<)

Bombay Stock Exchange (BSE)

k 2014-15 i E Sri E ={H ]E BCSV

E { |i E V SE *

The advance annual listing fee for the financial year 2014-15
has already been remitted to the above Stock Exchanges.

101

10.5 +x{x +vE

B.E. M, |vE (k B J) B B+ E E
z |vx, +x vE |vE + ]E BCSV E
l Sri E E +x{x Ex i +x{x +vE E
{ xq] E M *
10.6 V b]/E E x{nx :
k 2013-14 E nx xx ]E BCSV (BxB<) +
]E BCSV (B<) ]bM EB MB E j +
E =SS B xx E]x E h xxi :

BxB<

/ Month

=SS

10.5 Compliance Officer

Shri A.K. Goel, General Manager (F & A) and CFO has been
designated as the Compliance Officer for complying with
various provisions of SEBI, other statutory authorities and
Listing Agreements with the Stock Exchanges.
10.6 Market Price Data:
The monthly high and low quotations and the volume of shares
traded on National Stock Exchange (NSE) and Bombay Stock
Exchange (BSE) during the financial year 2013-14 were as
under:

/ NSE

xx

j ( E J)

140.50

124.00

39462191

141.70

122.80

3435354

13

136.95

121.10

51007168

138.00

119.75

6136046

Vx/June 13

124.05

88.05

41169171

125.65

86.50

6131667

High
(`)

+|/April
</May

13

Low
(`)

Volume (Number
of shares)

=SS

B< / BSE
xx j ( E J)

High
(`)

Low
(`)

Volume (Number
of shares)

V</July

13

94.65

70.05

57418441

95.95

66.10

8284282

+Mi/Aug

13

74.30

65.75

43498358

75.30

64.90

6747422

86.05

66.05

54831812

87.00

65.15

8289941

13

91.75

78.40

48772838

93.00

75.85

7122703

x/Nov 13

96.65

86.90

59304651

99.75

86.10

8734799

n/Dec 13

96.20

84.80

47724438

97.50

84.20

5550941

Vx/Jan 14

99.15

76.25

85998884

102.65

76.05

9797950

/Feb 14

78.00

73.20

37408520

79.40

72.45

4754645

S/Mar 14

90.90

75.00

60339208

93.10

74.50

6882212

i/Sep
+H/Oct

13

10.7 B Bb { BxBC x}] E ix E E E 10.7 Performance of Banks share in comparison with

the movement of CNX Nifty is shown hereunder:
Ex{nx xxi :
nxE
BxB< E E E CVM (`)
BxBC x}]
Date

Closing Share Price of Bank at NSE (`)

CNX Nifty (Closing)

01.04.2013
02.05.2013
03.06.2013
01.07.2013
01.08.2013
02.09.2013
01.10.2013
01.11.2012
02.12.2013
01.01.2014
03.02.2014
03.03.2014
31.03.2014

129.50
136.95
124.05
94.65
68.55
68.45
78.40
93.95
92.50
96.45
76.10
75.00
90.90

5704.40
5999.35
5939.30
5898.85
5727.85
5550.75
5780.05
6307.20
6217.85
6301.65
6001.80
6221.45
6704.20

10.8 V] B ]x BV] :
BB . 77/2A W b, EEi 700 029 E
E V] B ]x BVx] *

10.8 Registrar and Share Transfer Agent:

M/s MCS Ltd. 77/2A, Hazra Road Kolkata-700029 is Banks
Registrar and Share Transfer Agent.

102

10.9 Share Transfer System:

10.9 +ih |h :
nxn E +x xEMh BE l E +ih- As per SEBI guidelines, investors can avail the facility of
-b]<Vx E v +{x Ei * E iih simultaneous transfer-cum-dematerialization of shares.
and Share Transfer Agent, on transfer of shares,
E n V] B iih BV] iii E iih Registrar
would be sending the intimation of transfer to the transferee.
E Sx VM* iii E +Mi E Vi E Transferees are apprised to submit their request for de< b]<Vx i +{x +xv b{V] {]{] E materialization to their Depository Participant. On receipt of
|ii E* b] i +xv |{i x { E b]<V Demat request, the shares are dematerialized. If the demat
E n Vi * n 30 nx E +n b] i +xv |{i x request is not received within a period of 30 days, the
transferred share certificate is dispatched to the transferee in
i i iii |h{j iii E iE { physical form.
V n Vi *
10.10 Distribution of shareholding as on 31.03.2014
10.10 31.03.2014 E lli vi E {
vi
vE E J
E vE
E J
E
E |ii (%)
E |ii (%)
Shareholding

Number of shareholders

Percentage of Total

Number of shares

shareholders (%)

Percentage of Total
shares (%)

upto 500/ iE

189991

87.68

32031754

5.88

501 to 1000

18109

8.36

13040369

2.40

1001 to 2000

5133

2.37

7485141

1.37

2001 to 3000

1328

0.61

3318865

0.61

3001 to 4000

608

0.28

2179506

0.40

4001 to 5000

385

0.18

1800996

0.33

5001-10000

584

0.27

4263123

0.78

555

0.25

480489582

88.23

216693

100.00

544609336

100.00

10001and above / B

+vE

E/Total

10.11 E b]<Vx
E E E ]bM +x { b] E Vi * E
E <C] E +<B+<Bx Eb INE428A01015*
31.03.2014 E lli E E 528656859 ,
b]<V V <C] E 97.07% *
31.03.2014 E lli vE u b] + VE
J MB E h xxx :

VE / Physical form
b] / Dematerialized form
BxBbB / NSDL
bBB / CDSL
E /TOTAL

The Banks shares are compulsorily traded in demat form. The

ISIN code of Banks Equity Shares is INE428A01015.
As on 31.03.2014, 528656859 shares constituting 97.07% of
the equity shares are in dematerialized form.
Particulars of shares in Demat and Physical form held by the
shareholders as on 31.03.2014 are as under:

vE E J

E J

Number of shareholders

Number of shares

% of shareholding

51144

15952477

2.93

115960

190970506

35.07

49589

337686353

62.00

216693

544609336

100.00

31.03.2014 E lli i E E E <C] vi

|iE E 320798565 V E E E |nk {V E
58.90% *
10.12 +V E il E< Vb+/Bb+/] +x
Ex] <]] E x *

`10/-

10.11 Dematerialization of shares

vi E

The total Equity holding of Govt. of India as on 31.03.2014

is 320798565 equity shares of `10/- each, which constitutes
58.90% of the total paid up capital of the Bank.
10.12 There are no outstanding GDRs /ADRs /Warrants or
any Convertible instruments as on date.

103

11. +ih B xE Ei xh

11. Share Transfer and Redressal of Investors Grievance

E x . BB . E V] B +ih BV] E {
xH E V xE E Ei E vx, il {i
{ix, E +ih/ |h, +vn {ix +n E v
vE E +xv E nV Ei * xE E v i
=xE Ei |vx E, EEi E E Vi *

The Bank has appointed M/s MCS Ltd. as the Registrar and
Share Transfer Agent for recording the shareholders requests,
resolution of investors grievances, amongst other activities
connected with the change of address, transfer/transmission
of shares, change of mandate etc. For the convenience of the
investors, grievance/ complaints from them are also accepted
at the Bank Head Office in Kolkata.

xE +{x +xv/Ei i V] E { +l E
xxLi {i { nV E Ei :

The shareholders may lodge their requests/complaints either

with the Banks Registrar and Share Transfer Agent (RTA) or
with the Bank at the following address:-

` |vE
M B xE Ei EI
<n E, |vx E
2, xiV b
EEi-700 001
]: 033-22420878
C: 033-22623279
<: investors.grievance@allahabadbank.in

. BB .
(x]: <n E)
77/2B, V b,
EEi-700029
]: 033-40724051 54
C: 033-24541961, 40724050
<: mcskol@rediffmail.com OR
allahabadbank.grievance@yahoo.co.in

M/s MCS Ltd.

(Unit: Allahabad Bank)
77/2A, Hazra Road,
Kolkata-700029.
Tel; 033-40724051-54
Fax : 033-24541961,40724050
Email: mcskol@rediffmail.com OR
allahabadbank.grievance@yahoo.co.in

The Senior Manager,

Share Deptt.& Investors Grievance Cell,
Allahabad Bank, Head Office ,
2, Netaji Subhas Road,
Kolkata-700 001.
Tele: 033-22420878
Fax: 033-22623279
Email: investors.grievance@allahabadbank.in

11.1 Number of complaints received, resolved and pending

11.1 |{i, xii B i Ei E J
vE E Ei v BB ., EEi The shareholders may lodge their requests/complaints either
u |{i E Vi il E u |{i E M< Ei E =H with the Banks RTA or with the Bank at the aforementioned
E{x E +Oi E n Vi * 2013-14 E nx |{i B address. The shareholders complaints received by the Bank
are forwarded to Banks RTA for redressal. The details of
xii il nxE 31.03.2014 E i +xv /Ei E requests/complaints received and resolved during the financial
h xxi year 2013-14 and pending as on 31.03.2014 are as follows:nxE 31.03.2013 E
2013-14 E nx |{i
nxE 31.03.2014 E
xii
lli i
lli i
Pending as on 31.03.2013

Received during 2013-14

Resolved

x/Nil

1909

1909

Pending as on 31.03.2014

Ei /+xv E .
No. of Complaints/requests

104

x/Nil

11.2 +n
b] =Si Ji +n {c E h xxi :

11.2 Unclaimed Shares

The details of unclaimed shares lying in the Demat Suspense
Account are as under:

nxE 01.04.2013 E lli

E/+n
4126
ii) 2013-14 E nx nEi B l
Ji +ii
x
iii) nxE 31.03.2014 E lli
E / +n
4126
+n / E E v inx Ex E +vE E =xE
u n Ex iE E J VBM*

i) Shares outstanding/unclaimed
as on 01.04.2013
ii) Shares claimed and transferred to
Beneficiary account
during the year 2013-14

i)

v n E |{i { b] =Si Ji {c E
nn E Ji V E Vi *
12. Shareholding Pattern (as on 31.03.2014)

h
Description

iii) Shares outstanding/unclaimed as

on 31.03.2014

Nil

4126

On the receipt of valid claim from the rightful owner the shares
lying in the Demat Suspense account are credited to the claimant.

vi E J

Number of shareholders

Number of shares held

Foreign Institutional Investors

(Foreign Financial Institutions)
x B =bx/Trust and Foundations
xMi xE/Bodies Corporate

4126

The voting rights in respect of the unclaimed/outstanding

shares will remain frozen till the claim by the rightful owner.

vE E J

i E/Government of India
S+ b/]+</Mutual Funds/UTI
E/Banks
E{x/Insurance Companies
n lMi xE (n k lB)

vi

% of shareholding

1
30
10
24

320798565
23731263
1077874
72892976

58.90
4.36
0.20
13.38

96
19
1892

43488057
520062
11208383

7.99
0.10
2.06

213344
1277
216693

69828188
1063968
544609336

12.82
0.19
100.00

ES i x H
Resident Individuals including Employees
+x i/Non Resident Indians
E / Total

13. xx <C]xE CM ] (Bx<B)

13. National Electronic Clearing Services (NECS)

xx <C]xE CM ] (Bx<B) E Mix

E BE x< v V xE E E v =E E Ji
V E V Ei * E +{x vE E =xE E Ji
v V Ex E v E E{ ={v E *
il{ vE E E Ji E E ExpEi EM x
(B) J x SB*

National Electronic Clearing Services (NECS) is a novel

method of payment of Dividend, where the amount to the
investors can directly be credited to his/ her Bank Account.
The Bank is offering the services to the shareholders with an
option to avail the facility for direct credit of the dividend in
their Bank account. However the Bank account of the
shareholders should be in Centralized Banking Solution (CBS)
Branch of the Bank.

<B xb] E {] E l Mx V VE
vh Ex vE u V] B +ih
BV] E V VB* b]<V { Jx
vE <B xb] i +{x b{V] {]{] {E E*
vE E Ex { Bx<B E v |{i Ex E
E{ {i E V Ei *

The ECS mandate form is enclosed with the Annual Report,

which may be sent to the Registrar and Share Transfer Agent
by the shareholders, who are holding shares in physical form.
Shareholders holding shares in dematerialized form may
contact their respective Depository Participant for their ECS
mandate. The option to receive dividend through NECS may
be discontinued at any time at the instance of the shareholders.

105

14. +S i

14. Code of Conduct

E x xnE b + ` |vx EE i |V +S
i i E + < 17.10.2005 E +Vi +{x ` E
b u +MEi E M il E E <] +li
www.allahabadbank.in { ={v *

The Bank has framed the Code of Conduct applicable to the

Board of Directors and Senior Management Personnel and
the same has been adopted by the Board at its meeting held
on 17.10.2005 and the same is available on the Banks website
viz. www.allahabadbank.in

b E n + ` |vx x E +v { i E
+x{x E {] E + +vI B |v xnE +li E E
J E{E +vE E + E M< < + E Ph
< |inx E + *

The Board members and senior management have affirmed

compliance with the code on annual basis and a declaration
to this effect from the Chairman and Managing director i.e.
CEO of the Bank, forms part of this report.

15. E{] Mxx E +x +xv E +x{x E |h{j,

15. Certificate of compliance of mandatory stipulations of

Corporate Governance

V E l Sri E E i E +x +x
+xv E +x{x vi E E vE Exp J{IE
E u V |h{j Mx E M *

The certificate issued by the statutory central auditors of the

Bank, regarding compliance of mandatory stipulations of
Corporate Governance in terms of the listing agreement with
the stock exchange is attached.

xnE b E B B =xE +

For and on behalf of the Board of Directors

nxE : 07.05.2014
lx: EEi

( E ` )
+vI B |v xnE

Date: 07.05.2014
Place:
Kolkata

Ph

DECLARATION

]E BCSV Sri E E Jb 49(*) (b) E +xh

+vI B |v xnE +li E E J E{E +vE
E Ph*
Ph E Vi E E x b E n + E
E ` |vx EE (+li |vE Mh) x ]E BCSV
Sri E E Jb 49(*) (b) E +xh 31 S
2014 E {i k i +S i E +x{x E
EH n * < +S i E E E <]
www.allahabadbank.in { b M *

nxE : 07.05.2014
lx: EEi

(Rakesh Sethi)
Chairman and Managing Director

(E `)
+vI B |v xnE

Declaration of the Chairman and Managing Director i.e.

CEO of the Bank, pursuant to Clause 49(I) (D) of the
Listing Agreement with Stock Exchanges.
It is to declare that the Board Members and Senior
Management Personnel of the Bank (i.e. General
Managers) have affirmed their compliance of the Code of
Conduct for the Financial Year ended on 31st March, 2014
in accordance with Clause 49(I) (D) of the Listing
Agreement with Stock Exchanges. The said Code of
Conduct has been posted on the Banks website,
www.allahabadbank.in.

Date: 07.05.2014
Place:
Kolkata

106

(Rakesh Sethi)
Chairman and Managing Director

E{] Mxx {
J{IE E |h{j

Auditors Certificate on Corporate

Governance

<n E E n E B

To,

x ]E BCSV E l E E Sri E E Jb 49
lxvi E +x 31 S, 2014 E {i i <n
E, EEi E E{] Mx E li E +x{x E VS
E *
E{] Mxx E i E +x{x E Vn |vx E *
VS E{] Mx E i E +x{x xSi Ex
i E E u +{x< M< |G + =E Exx iE i
l* x i J{I + x E E k h {
+i H Ex *
il =k VxE nB MB {]Eh E
+x
(B) |hi Ei E E x ={H Sri E
xvi E{] Mx E i E +x{x E
, V iE E i V E E nxn
E =Px x Ei*
() Ex E E E V] B +ih
BV] u l|hi vE/xE Ei xh
i u J MB +J E +x E E r
x E E< Ei BE +vE iE
i x *
Ex E +x{x x i E E i
i +x + x E E Ex{nx |vx E Ei
B |i *

We have examined the compliance of conditions of Corporate

Governance by ALLAHABAD BANK for the year ended on
31st March 2014, as stipulated in clause 49 of the Listing
Agreement entered into by Allahabad Bank with Stock
Exchange(s).

The Members of Allahabad Bank

The Compliance of conditions of Corporate Governance is the

responsibility of the Management. Our examination was limited
to procedures and implementation thereof, adopted by the
Bank for ensuring the compliance of the conditions of the
Corporate Governance. It is neither an audit nor an expression
of opinion on the financial statements of the Bank.
On the basis of the records and documents maintained by the
Bank and the information and explanations given to us:
(a) We certify that the Bank has complied with the
conditions of Corporate Governance as stipulated
in the above mentioned Listing Agreement, to the
extent these do not violate RBI guidelines.
(b) We state that no investor grievance is pending for a
period exceeding one month against the Bank, as
per the records maintained by the Shareholders/
Investors Grievances Committee and as certified by
the Registrar and Share Transfer Agent of the Bank.
We further state that such compliance is neither an assurance
as to future viability of the Bank nor the efficiency or
effectiveness with which the Management has conducted the
affairs of Bank.

Ei . Bx.E. M Bb E.

Ei . P xl Bb E.

Ei . Jb EEx Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

For M/s Khandelwal Kakani & Co.

xn JE

xn JE

xn JE

Chartered Accountants

Chartered Accountants

Chartered Accountants

(i |E)

(Bx.E. M)

(Sharat Prakash)
{]x / Partner

(N.K. Bhargava)
{]x / Partner

(i nJ)
(Santosh Deshmukh)
{]x / Partner

ni ./Membership No.096267
ni ./Membership No.080624
ni ./Membership No.071011
{VEh ./Firm Regn. No 000429N {VEh ./Firm Regn. No. 000451N {VEh ./Firm Regn. No. 01311C
Ei . ] Bb {i

Ei . l Bb BB]

For M/s Batliboi & Purohit

For M/s Sarath & Associates

xn JE

xn JE

Chartered Accountants

Chartered Accountants

(x ME)

(+. I )

(Raman Hangekar)
{]x / Partner

(R. Lakshmi Rao)

{]x / Partner

ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

lx/Place: EEi/Kolkata
nxE/Date: 07.05.2014
107

Sri E E Jb 49V E
+xh |h{j
,
xnE b,
<n E

|hi E Vi E(B) x 2013-14 i k h + xEn h E I E + k VxE + E +x :

i)

<x h E< i{h +i Elx x +l E< i{h il U] x +l E< E Elx ] x

*

ii)

h E E E i + =Si U |ii Ei il Vn J xE, |V v + xx E

+x *

() k VxE + E +x E nx E x E< B xnx x E V E{]{h, +v +l E

E +S i E r *
() k {]M i +iE xjh l{i Ex + < xB Jx E =kni E Ei + E x k
{]M vi E E +iE xjh |h E Ex E + B +iE xjh E {J + {Sx E
=x Mi E, V VxE + <x Mi E {vx i x V En =`B , = J{IE +
J{I i E I |E] E *
(b) x J{IE + J{I i E n E(i)

2013-14 E nx k {]M { +iE xjh E< i{h {ix x *

(ii)

E nx J xi E< i{h {ix x + *

(iii)

vJvc E P]xB VxE VxE < + V |vx E ES E {ii, n E< ,

VE k {]M { E E +iE xjh |h i{h E *

(B. E. M)
|vE (k B J) B B+

(E `)
+vI B |v xnE

lx : EEi
nxE : 07.05.2014

108

CERTIFICATE PURSUANT TO CLAUSE 49V

OF THE LISTING AGREEMENT
To
The Board of Directors,
Allahabad Bank
This is to certify that:
(a) We have reviewed the financial statements and the cash flow statement of the Bank for the financial year 2013-14
and that to the best of our knowledge and belief:
(i)

these statements do not contain any materially untrue statement or omit any material fact or contain statements
that might be misleading.

(ii)

these statements together present a true and fair view of the Bank's affairs and are in compliance with existing
accounting standards, applicable laws and regulations.

(b) There are, to the best of our knowledge and belief, no transactions entered into by the Bank during the year which are
fraudulent, illegal or violative of the Bank's code of conduct.
(c) We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have
evaluated the effectiveness of the internal control systems of the Bank pertaining to the financial reporting and we
have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal
controls, if any, of which we are aware and the steps we have taken or propose to take to rectify the deficiencies.
(d) We have indicated to the Auditors and the Audit Committee
(i)

that no significant change in internal control over financial reporting has been made during the financial year
2013-14,

(ii)

that no significant change in accounting policies has taken place during the year,

(iii)

the instances of significant fraud of which we become aware and the involvement therein, if any, of the
management or an employee having a significant role in the Bank's internal control system over financial
reporting.

(A.K. Goel)
General Manager (F&A) and CFO

(Rakesh Sethi)
Chairman and Managing Director

Place: Kolkata
Date: 07.05.2014

109

< n E
ALLAHABAD BANK

31 S, 2014 E lli ix-{j

BALANCE SHEET AS ON 31ST MARCH, 2014

h
Particulars

+xS

lli/As on

lli/As on

Schedule

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

{V / Capital
|Ii B +v / Reserves & Surplus
V / Deposits
=v /Borrowings
+x niB B |vx /
Other Liabilities and Provisions

5,446,093

5,000,262

112,561,241

108,524,902

1,908,428,083

1,787,416,025

121,307,715

100,975,875

56,599,699

41,814,825

2,204,342,831

2,043,731,889

88,344,455

78,082,218

54,606,567

52,625,135

E /Total:
+i /ASSETS
i W E xEn +
Cash and Balances with
Reserve Bank of India

E + M il +{ Sx { n vx
Balances with Banks and
Money at Call and Short Notice

xvx /Investments
+O /Advances
l +i /Fixed Assets
+x +i /Other Assets
E /Total:
+EE niB /Contingent Liabilities
h E B /Bills for Collection
>{ ni +xS J E +z +M

639,605,322

583,058,570

1,380,065,727

1,294,896,505

10

13,096,934

12,515,201

11

28,623,826
2,204,342,831

22,554,260
2,043,731,889

12

733,574,491

530,672,350

118,051,743

135,930,209

The schedules referred to above form an integral part of the accounts

xnE / Directors:
b. E Cx / Dr. Shashank Saksena
B. =nMi / Shri A. Udgata
<.{. / Shri Y. P. Singh
x E / Shri Nirmal Kumar Bari
V E / Shri Sanjeev Kr. Sharma
n xh / Shri D. N. Singh
+V C / Shri Ajay Shukla
b. n{ Sv / Dr. Sudip Chaudhuri
B. {. . Bx. / Shri A. P. V. N. Sarma
+E V /Shri Ashok Vij

E `

V. E. J

B. E. M

{. B. |vx

+vI B |v xnE

E{E xnE

|vE (k B J)

={ |vE (k B J)

E |vE (k B J)

(Rakesh Sethi)
Chairman & Managing Director

(J. K. Singh Kharb)

Executive Director

(A. K. Goel)
General Manager (F&A)

(P. L. Pradhan)
Dy. General Manager(F&A)

(Bhavesh Mishra)
Asstt General Manager(F&A)

il E {] E +x / As per our report of even date

Ei . Bx. E. M Bb E.

Ei . P xl Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

Chartered Accountants

Chartered Accountants

xn JE
(Bx.E. M)

(N.K. Bhargava)
{]x / Partner
ni ./Membership No.080624
{VEh ./Firm Regn. No 000429N

Ei . Jb EEx Bb E.

Ei . ] Bb {i

xn JE
(i |E)

(Sharath Prakash)
{]x / Partner
ni ./Membership No.096267
{VEh ./Firm Regn. No. 000451N

Ei . l Bb BB]

For M/s Khandelwal Kakani & Co.

For M/s Batliboi & Purohit

For M/s Sarath & Associates

Chartered Accountants

Chartered Accountants

Chartered Accountants

xn JE
(i nJ)

(Santosh Deshmukh)
{]x / Partner
ni ./Membership No.071011
{VEh ./Firm Regn. No. 01311C

xn JE
(x ME)

(Raman Hangekar)
{]x / Partner
ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

lx / Place: EEi / Kolkata

nxE / Date: 07.05.2014

110

xn JE

(+. I )

(R. Lakshmi Rao)

{]x / Partner
ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

< n E

ALLAHABAD BANK

31 S, 2014 E {i i YJ x J
Profit and Loss Account for the year ended 31st March, 2014

+xS

{i /Year Ended

{i /Year Ended

Schedule

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

13
14

187,466,825
21,657,511
209,124,336

174,356,918
14,769,097
189,126,015

15
16

134,353,608
34,566,395

125,692,806
29,581,009

28,484,114
197,404,117

22,000,087
177,273,902

11,720,219
2,293,115
14,013,334

11,852,113
1,838,546
13,690,659

2,940,000
3,207,412
32,795

2,970,000
2,092,657
314,853

2,610,000

2,510,000

x/NIL
1,361,523
231,391
3,630,213
14,013,334

x/NIL
3,000,157
509,877
2,293,115
13,690,659

22.89

23.70

h
Particulars
I

II

+ /INCOME
+Vi V /Interest earned
+x + /Other income
E /Total :
/EXPENDITURE
E M V /Interest expended
{Sx /Operating expenses
|vx + +EE /
Provisions & contingencies
E /Total :

III

IV

x /Net Profit
+Oxi /Balance brought forward
E /Total :
xVx / APPROPRIATIONS
vE |Ii E +ih /Transfer to Statutory Reserve
V |Ii E +xih /Transfer to Revenue Reserve
{V |Ii-+x E +ih/Transfer to Capital Reserve - Others
|Ii E +ih
(ytgfUh yr"rlgb, 1961 E v 36 (I)(viii) fuU ylwmth)/
Transfer to Special Reserve (in terms of
Sec 36(I)(viii) of I.T. Act 1961)
+<+B |Ii E/mu yk;hK /
Transfer to / from IRS Reserve
|ii / Proposed Dividend
{ E /Tax on Dividends
ix {j +Oxi /Balance carried to Balance Sheet
E /Total :
i{h J xi/Significant Accouning Policies 17
J { ]{{h /Notes on Accounts
18
|i +Vx (`) /Earnigs per share (`)

>{ ni +xS J E +z +M
The schedules referred to above form an integral part of the accounts
E `
V. E. J
B. E. M
xnE / Directors:
b. E Cx / Dr. Shashank Saksena
B. =nMi / Shri A. Udgata
<.{. / Shri Y. P. Singh
x E / Shri Nirmal Kumar Bari
V E / Shri Sanjeev Kr. Sharma
n xh / Shri D. N. Singh
+V C / Shri Ajay Shukla
b. n{ Sv / Dr. Sudip Chaudhuri
B. {. . Bx. / Shri A. P. V. N. Sarma
+E V /Shri Ashok Vij

+vI B |v xnE
(Rakesh Sethi)
Chairman & Managing Director

{. B. |vx

E{E xnE

|vE (k B J)

={ |vE (k B J)

E |vE (k B J)

(J. K. Singh Kharb)

Executive Director

(A. K. Goel)
General Manager (F&A)

(P. L. Pradhan)
Dy. General Manager(F&A)

(Bhavesh Mishra)
Asstt General Manager(F&A)

il E {] E +x / As per our report of even date

Ei . Bx. E. M Bb E.
Ei . P xl Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

Chartered Accountants

Chartered Accountants

xn JE
(Bx.E. M)

(N.K. Bhargava)
{]x / Partner
ni ./Membership No.080624
{VEh ./Firm Regn. No 000429N

Ei . Jb EEx Bb E.

Ei . ] Bb {i

xn JE
(i |E)

(Sharath Prakash)
{]x / Partner
ni ./Membership No.096267
{VEh ./Firm Regn. No. 000451N

Ei . l Bb BB]

For M/s Khandelwal Kakani & Co.

For M/s Batliboi & Purohit

For M/s Sarath & Associates

Chartered Accountants

Chartered Accountants

Chartered Accountants

xn JE
(i nJ)

(Santosh Deshmukh)
{]x / Partner
ni ./Membership No.071011
{VEh ./Firm Regn. No. 01311C

xn JE
(x ME)

(Raman Hangekar)
{]x / Partner
ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

lx / Place: EEi / Kolkata

nxE / Date: 07.05.2014

111

xn JE

(+. I )

(R. Lakshmi Rao)

{]x / Partner
ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

< n E
ALLAHABAD BANK
xEn | h-{j

31 S, 2014 E {i i

Cash Flow Statement

For the year ended 31st March, 2014

h / Particulars

2013-14

(` V / ` in thousand)
2012-13

{Sx Miv xEn |

Cash Flow from Operating Activities

E nx +O, xvx +n |{i V

Interest received during the year from advances,
Investments etc.

+x + /Other Income
P]B/Less:
E nx V { |nk V
Interest paid during the year on Deposit

187466825
21611438

174356917
209078263

(128553170)

14728960

189085877

(120480524)

|vx B +EEi+ i {Sx

Operating Expenses including Provisions &
Contingencies

(63050508)

Vc: / Add:
l +i { /Depreciation on Fixed Assets
B. {Sx Vi xEn
({SxMi +i + ni+ {ix {)
a.

(191603678)

(51581096)

(172061620)

818161

728355

18292746

17752612

Cash Profit generated from operations

(prior to changes in operating assets and liabilities)

. ni+ r (E) : V
b.

Increase (Decrease) in Liabilities: Deposit

+x niB B |vx/Other Liabilities & Provisions

121012057

191485221

8695847

4544788
129707904

196030009

. +i E (r) :
c. Decrease (Increase) in Assets:

+O /Advances
xvx /Investments
+x +i /Other Assets
B. {SxMi Miv x xEn | (B++)

(85169222)

(183445518)

(56546752)

(40226206)

(6069566)

A. Net Cash Flow from Operating activities (a+b+c)

(147785540)

278669

215110

(223393055)

(9610434)

x Miv xEn |
Cash Flow from Investing Activities

l +i E G/x{]x/Sale/disposal of fixed assets

l +i E G /Purchase of fixed assets
. x Miv x xEn |

102791

91646

(1502685)

(1357892)

B. Net Cash Flow from Investing Activities

(1399894)

112

(1266246)

(` V /

xEn | h-{j (V...) / Cash Flow Statement (Contd.)

h / Particulars
k{h Miv xEn |

2013-14

` in thousand)

2012-13

Cash Flow from Financing activities

=v /Borrowings
=v { |nk V /Interest Paid on Borrowings
(E i) /Dividends (including tax)
i E E V /Issue of Shares to Govt of India
] II b E xM B n @h

20331839

12031084

(5800438)

(5212282)

(5102948)

(3486857)

4000000

x/NIL

x/NIL
x/NIL

x/NIL

Issue of Tier II Bonds & Perpetual Debt

Mh @h E vx /Redemption of Sub Debt

. k{h Miv Vi x xEn
C. Net cash generated from Financing Activities

(2000000)
13428453

1331945

12243669

(9544735)

E nx E xEn | B
Total Cash Flow during the year (A+B+C)

h / Particulars
b. E + xEn + xEn i
D. Cash & Cash equivalent at the beginning of the year

i W E E vtm xEn il
Cash & Balances with RBI

78082218

87124452

E + M il +{ Sx { n vx
Balances with Banks and Money at Call and Short Notice
E /Total

52625135

53127636
130707353

140252088

<. E +i xEn + xEn i

E. Cash and cash equivalent at the end of the year

i W E E { xEn +
Cash and Balances with RBI

88344455

78082218

E + M il +{ Sx { n vx
Balances with Banks and Money at Call and Short Notice
E /Total
E nx E xEn | (<-b) /
Total Cash Flow during the year (E-D)

xnE / Directors:
b. E Cx / Dr. Shashank Saksena
B. =nMi / Shri A. Udgata
<.{. / Shri Y. P. Singh
x E / Shri Nirmal Kumar Bari
V E / Shri Sanjeev Kr. Sharma
n xh / Shri D. N. Singh
+V C / Shri Ajay Shukla
b. n{ Sv / Dr. Sudip Chaudhuri
B. {. . Bx. / Shri A. P. V. N. Sarma
+E V /Shri Ashok Vij

54606567

52625135
142951022

130707353

12243669

(9544735)

E `

V. E. J

B. E. M

{. B. |vx

+vI B |v xnE

E{E xnE

|vE (k B J)

={ |vE (k B J)

E |vE (k B J)

(Rakesh Sethi)
Chairman & Managing Director

(J. K. Singh Kharb)

Executive Director

(A. K. Goel)
General Manager (F&A)

(P. L. Pradhan)
Dy. General Manager(F&A)

(Bhavesh Mishra)
Asstt General Manager(F&A)

il E {] E +x / As per our report of even date

Ei . Bx. E. M Bb E.

Ei . P xl Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

Chartered Accountants

Chartered Accountants

xn JE
(Bx.E. M)

(N.K. Bhargava)
{]x / Partner
ni ./Membership No.080624
{VEh ./Firm Regn. No 000429N

Ei . Jb EEx Bb E.

Ei . ] Bb {i

xn JE
(i |E)

(Sharath Prakash)
{]x / Partner
ni ./Membership No.096267
{VEh ./Firm Regn. No. 000451N

Ei . l Bb BB]

For M/s Khandelwal Kakani & Co.

For M/s Batliboi & Purohit

For M/s Sarath & Associates

Chartered Accountants

Chartered Accountants

Chartered Accountants

xn JE
(i nJ)

(Santosh Deshmukh)
{]x / Partner
ni ./Membership No.071011
{VEh ./Firm Regn. No. 01311C

lx / Place: EEi / Kolkata

nxE / Date: 07.05.2014

xn JE
(x ME)

(Raman Hangekar)
{]x / Partner
ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

113

xn JE

(+. I )

(R. Lakshmi Rao)

{]x / Partner
ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

+xS

SCHEDULE

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

30,000,000

30,000,000

3,207,985

2,762,154

2,238,108

2,238,108

5,446,093

5,000,262

i)

27,543,871

24,573,871

ii)

2,940,000

2,970,000

30,483,871

27,543,871

8,559,899

8,600,036

x/NIL
x/NIL

x/NIL
x/NIL

(38,661)
8,521,238

(40,137)
8,559,899

103,251

103,251

x/NIL
x/NIL

x/NIL
x/NIL

103,251

103,251

+xS 1 - {V
SCHEDULE - 1 CAPITAL

|vEi {V /AUTHORISED CAPITAL

|iE

10/- E 3,00,00,00,000 <C]

300,00,00,000 Equity Shares of `10/- each

xMi, +nk B |nk {V

ISSUED, SUBSCRIBED & PAID UP CAPITAL

"trh; gufU `10/32,07,98,565 Equity Shares of `10/- each

held by Central Government

Vxi B +x u vi |iE

` 10/-

22,38,10,771 <C]

22,38,10,771 Equity Shares of `10/- each

held by Public & Others

E /Total :

+xS 2 - |Ii + +v
SCHEDULE - 2 RESERVES & SURPLUS
I.

vE |Ii/Statutory Reserves

+l / Opening Balance
E nx {vx / Additions during the year
E /Total :
II. {V |Ii / Capital Reserves
B/A) {xEx |Ii /Revaluation Reserves
i) +l /Opening Balance
ii) E nx {vx/Addition during the year
iii) E nx E]i /Deduction during the year
iv) B x J +ih /Transfer to Profit & Loss Account
Total :

/B) l +i E G |Ii
Reserve out of sale of Fixed Assets
i)
ii)
iii)

+l /Opening Balance
E nx {vx /Addition during the year
E nx E]i /Deduction during the year
E /Total :

114

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

3,840,799

3,525,946

32,795

314,853

/C) +x / Others
i) +l /Opening Balance
ii) B x Ji +ih /
Transfer from Profit & Loss Account

E /Total :
E (B++) /Total (A+B+C)
III. V B +x |Ii/Revenue & Other Reserves
i) +l / Opening Balance
ii) E nx {vx / Addition during the year
iii) E nx E]i / Deduction during the year
E /Total :
IV. xvx |Ii Ji / Investment Reserve Account
i) +l / Opening Balance
ii) E nx {vx /Additions during the period
iii) B x Ji +ih/Transfer to Profit & Loss Account
E /Total :
V. |Ii/Special Reserve
i) +l / Opening Balance
ii) E nx {vx/ Additions during the year
E /Total
VI. n p {ix |Ii /Foreign Currency Translation Reserve
i) +l / Opening Balance
ii) E nx {vxAdditon during the year
iii) E nx E]i Vx / Deduction/Adj. during the year
E /Total:
VII. +<. +. B. |Ii / I R S RESERVE
i) +l / Opening Balance
ii) E nx {vx / Additions during the year
iii) E nx E]i / Deduction during the year
E /Total :
VIII. | /Share Premium
i) +l /Opening Balance
ii) E nx {vx /Additions during the year
E /Total :
IX. B x Ji /
Balance in Profit & Loss Account

E /Total: (I+II+III+IV+V+VI+VII+VIII+IX)

115

3,873,594

3,840,799

12,498,084

12,503,949

37,734,283

36,532,478

x/NIL

1,201,805

(6,686,888)

x/NIL

31,047,395

37,734,283

890,852

x/NIL

x/NIL
x/NIL

890,852

890,852

890,852

9,310,000

6,800,000

x/NIL

2,610,000

2,510,000

11,920,000

9,310,000

268,981

111,889

287,827

157,092

x/NIL

x/NIL

556,808

268,981

19,063

19,063

x/NIL
x/NIL

x/NIL
x/NIL

19,063

19,063

17,960,788

17,960,788

3,554,168

x/NIL

21,514,956

17,960,788

3,630,213

2,293,115

112,561,241

108,524,902

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

491,526

496,379

+xS 3 - xI{
SCHEDULE - 3 DEPOSITS
M xI{ /Demand Deposits
I.

E /From Banks
ii) +x /From Others
E /Total :
Si E xI{ /Savings Bank Deposits
n xI{ /Term Deposits
i) E /From Banks
ii) +x /From Others
E /Total :
E /Total : (I+II+III)
i) i li J+ E xI{ /
i)

II.
III.

Deposits of branches in India

ii)

90,477,091

99,047,340

90,968,617

99,543,719

507,275,944

449,752,831

10,593,602

17,622,027

1,299,589,920

1,220,497,448

1,310,183,522

1,238,119,475

1,908,428,083

1,787,416,025

1,891,680,834

1,776,707,799

16,747,249
1,908,428,083

10,708,226
1,787,416,025

9,000,000

i E li J+ E xI{ /
Deposits of branches outside India

E /Total :

+xS 4 - =v
SCHEDULE - 4 BORROWINGS
I.

i =v / Borrowings in India
i W E /Reserve Bank of India
ii) +x E /Other Banks
iii) +x lB B +Eh /Other Institutions and Agencies
iv) xx n @h Ji /

i)

Subordinated Innovative Perpetual Debt Instrument.

Mh @h-+{ ] II {V /
Subordinated Debt - Upper Tier II Capital
vi) Mh @h-] II {V /Subordinated Debt - Tier II Capital

x/NIL

x/NIL
x/NIL

2,271,543

2,768,537

3,000,000

3,000,000

10,000,000
24,119,000

10,000,000
24,119,000

48,390,543

39,887,537

v)

II.

E /Total :
i E =v /Borrowings outside India

E /Total :(I+II)
={H I + II i |ii =v
Secured borrowings included in I & II above

72,917,172

61,088,338

121,307,715

100,975,875

x/NIL

x/NIL

+xS 5 - +x niB B |vx

SCHEDULE - 5 OTHER LIABILITIES AND PROVISIONS
I. n /Bills Payable

4,492,390

3,319,971

II. +i

2,238,834

4,238,368

E Vx (x) /Inter Office Adjustment (Net)

III. ={Si V /Interest Accrued
IV. +lMi E niB / Deferred Tax Liabilities
V. +x (|vx i) /Others (including provisions)
E /Total :

116

5,781,569

3,514,010

3,738,570

245,938

40,348,336

30,496,538

56,599,699

41,814,825

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

+xS 6 - i W E xEn +
SCHEDULE - 6 CASH AND BALANCES WITH RESERVE BANK OF INDIA
I. Ec

/ Cash in hand
(n E x] i)(including foreign currency notes)
II. i W E /Balances with Reserve Bank of India
- S Ji / -in Current Account
- +x Ji -/in Other Accounts
E /Total :

5,392,339

5,241,190

82,952,116

72,841,028

x/NIL
88,344,455

x/NIL
78,082,218

+xS 7 - E + M il +{ Sx { n vx
SCHEDULE - 7 BALANCES WITH BANKS AND MONEY AT CALL AND SHORT NOTICE
I. i /In India
i. E /Balances with Banks
a) S Ji /in Current Accounts
541,903
7,135,171
b) +x V Ji /in Other Deposit Accounts
ii.
M il +{ Sx { n vx /Money at Call and Short Notice
B/a) E / with Banks
2,000,000
/b) +x l+ /with Other Institutions
x/NIL
E /Total : ( i + ii )
9,677,074
II. i E /Outside India
i. E /Balances with Banks
B/a) S Ji /in Current Accounts
11,077,509
/b) +x V Ji / in Other Deposit Accounts
x/NIL
ii.
M il +{ Sx { =ug vx /Money at Call and Short Notice
B/a) E /With Banks
33,851,984
/b) +x l+ /With Other Institutions
x/NIL
E /Total : ( i + ii )
44,929,493
E /Total : (I+II)
54,606,567

5,869,608
4,063,181
10,848,853
x/NIL
20,781,641

19,629,397
x/NIL
12,214,097
x/NIL
31,843,494
52,625,135

+xS 8 - xvx
SCHEDULE - 8 INVESTMENTS
I. i
i.

xvx /Investments in India in

E |ii /Government Securities
ii. +x +xni |ii /Other Approved Securities
iii. /Shares
iv. bS + v {j /Debentures & Bonds
v. +xM il/+l H ={G xvx
Investments in Subsidiaries and / or

499,425,370

457,718,279

443,354

457,347

4,373,601

3,669,265

62,273,782

44,185,094

1,317,852

1,712,747

71,771,363

75,315,838

639,605,322

583,058,570

Joint Ventures
vi.

+x (S+ b, ]+< +n) /

Others ( Mutual Funds, UTI etc. )

E /Total :
117

II. E

xvx /Gross Investments

P]B +I i |vx/Less: Provision for Depreciation
x xvx /Net Investments
III. i E xvx/Investments Outside India
E /Total : (I+III)

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

643,479,371

586,169,416

3,874,049

3,110,846

639,605,322

583,058,570

x/NIL

x/NIL

639,605,322

583,058,570

21,795,594

20,854,262

624,388,783

619,201,187

+xS 9 - +O
SCHEDULE - 9 ADVANCES

B/A

i.
ii.

G E MB B xB MB /
Bills purchased and discounted
xEn @h, +b}] + M
{ |in @h /
Cash credits, Overdrafts and
loans repayable on demand

iii. n @h /Term Loans

E /Total :

/B

733,881,350

654,841,056

1,380,065,727

1,294,896,505

1,240,127,843

1,097,710,525

37,081,953

49,322,839

102,855,931

147,863,141

1,380,065,727

1,294,896,505

466,639,200

394,034,400

136,054,604

162,320,135

x/NIL

x/NIL

718,750,343

676,088,669

1,321,444,147

1,232,443,204

13,181,304

43,996,796

877,528

845,396

20,984,356

15,091,202

23,578,392

2,519,907

i +i u |ii
( @h { +O i)
i)

Secured by tangible assets

(includes advances against book debts)

ii)

E/E |ii u Ii
Covered by Bank/Government Guarantees

iii)

+|ii /Unsecured

E /Total :
/C. I. i +O /Advances in India
i. |lEi Ij /Priority Sector
ii. VxE Ij /Public Sector
iii. E /Banks
iv. +x /Others
E /Total :
II. i +O / Advances outside India
B/a) cikfU mu =ug /Due from Bank
/b) yg mu =ug/Due from others
i) G EB MB B xB MB /
Bills Purchased & Discounted
ii)

E @h/Syndicated Loan

iii) +x /Others

E /Total :
E /Total :(I+II)
118

58,621,580

62,453,301

1,380,065,727

1,294,896,505

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

10,399,556

10,287,669

x/NIL

x/NIL

+xS 10 - l +i
SCHEDULE - 10 FIXED ASSETS
I.

{ ({xEi { i)

Premises (including Revalued Premises)

i.

vqJoJ;eo JMo fuU 31 S E li fuU ylwmth Mi/

{xEi {
At cost / Revalued amount as on 31st March
of the preceding year

ii.
iii.

iv.

E nx {xEi /Revalued during the year

E nx {vx / Additions during the year

277,977

111,887

10,677,533

10,399,556

129

x/NIL

10,677,404

10,399,556

x/NIL

x/NIL

10,677,404

10,399,556

384,205

344,238

10,293,199

10,055,318

560,449

521,788

9,732,750

9,533,530

306,915

371,461

10,039,665

9,904,991

At cost as on 31st March of the preceding year

9,177,586

8,178,433

E nx {vx/Additions during the year

1,224,708

1,090,799

10,402,294

9,269,232

E nx E]i / Vx /
Deductions/ Adjustment during the year

v.

{U vi Vx/
Adjustment Related to previous year

vi.

E il E /
Depreciation to date on book value

vii.

{xx il E /
Depreciation to date on revaluation

viii. xhvx

II.

{/Premises under Construction

E /Total
+x l +i (xS B CS i)

Other Fixed Assets (including Furniture & Fixtures)

i.

ii.
iii.

iv.

{i E 31 S E li E +x Mi {/

E nx E]i /Deductions during the year

91,179
9,178,053

Mi vi Vx /
Adjustment Related to previous year

v..

38,116
10,364,178

il E /Depreciation to date

E /Total:
E /Total :(I+II)
119

x/NIL

(467)

10,364,178

9,177,586

7,306,909

6,567,376

3,057,269

2,610,210

13,096,934

12,515,201

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

x/NIL

x/NIL

12,698,366

10,022,268

5,286,079
154,972

7,159,509
134,619

x/NIL

x/NIL

10,484,409
28,623,826

5,237,864
22,554,260

20,645,655

10,904,325

1,600

1,600

546,351,544

332,721,905

68,735,584
8,689,572

88,774,342
19,924,867

83,540,012

77,555,699

5,610,524

789,612

733,574,491

530,672,350

139,118,207

127,450,294

45,625,454

44,733,193

1,156,716
1,566,448
187,466,825

1,594,473
578,957
174,356,917

+xS 11 - +x +i
SCHEDULE - 11 OTHER ASSETS
i. +i E Vx (x) /Inter Office Adjustment (Net)
ii. ={Si V /Interest Accrued
iii. +O { nk E/

i { E] M E (x)

Tax paid in advance/tax

deducted at source (net)
iv. Jx O B ]{ /Stationery and Stamps
v. n E i] |{i E M< M-EE +i
Non-banking assets acquired
in satisfaction of claims
vi. yg (rJrJ" nxn YJk Wak;) /
Others (Sundries and Suspense)
E/Total :

+xS 12 - +EE niB

SCHEDULE - 12 CONTINGENT LIABILITIES
I. E E r n Vx @h E { E

(+{vx ni +E M i)

II.
III.

x E M

Claims against the bank, not acknowledged as debts

(including disputed Income Tax demands under appeals)
+i: nk x E B ni/Liability for partly paid
investments

E n x n+ E Eh ni/
Liability on account of outstanding
forward exchange contracts

IV.

P]E E + n M< |ii

Guarantees given on behalf of constituents
(i) i /In India
(ii) i E /Outside India

V.

|iOh, {`Ex + +x viB/

Acceptances, endorsements
and other obligations

VI.

+x n VxE B E
+EE { Vn
Other items for which the Bank is
contingently liable
E /Total :

+xS 13 - +Vi V
SCHEDULE 13 - INTEREST EARNED
I) +O/ { V/]] /Interest/discount on advances / bills
II)
III)

x { + /Income on investments
i W E + +x +i E
xv { V

Interest on balances with Reserve Bank of

India and other inter-bank funds
IV) yg/Others
E /Total :

120

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

9,109,903

7,912,953

2,921,530

3,266,974

(44,554)

(739,195)

465

903

(190)

(392)

3,043,027

6,657,767

(1,306,173)

(5,391,997)

92,092
7,841,411

106,308
2,955,776

21,657,511

14,769,097

128,553,170

120,480,524

1,770,671

1,693,264

+xS 14 - +x +
SCHEDULE 14 - OTHER INCOME
I)

Ex, x + n /

II)

x E G |{i (x)/

Commission, exchange & brokerage

Profit on sale of investments

P]B& x E {xx { x
Less: Loss on Revaluation of Investment
III)

, x il +x +i E G {
Profit on Sale of Land, Building and Other Assets

P]B& , x il +x +i E G { x
Less: Loss on sale of Land, Building and Other Assets
IV)

x xnx {
Profit on exchange transactions

P]B& x xnx { x
Less : Loss on exchange transaction
V)

i +xM /E{x il / +l H ={G <in

<in E { +Vi +

Income earned by way of dividends etc. from Subsidiaries/

companies and / or joint ventures etc. in India.
VI) v + / Miscellaneous Income

E /Total :

+xS 15 - E M V
SCHEDULE 15 - INTEREST EXPENDED
I)
II)

V { V /Interest on deposits
i W E/+i-E =v { V
Interest on RBI/Inter bank borrowings

III)

+x/Others
E /Total :

121

4,029,767

3,519,018

134,353,608

125,692,806

lli/As on

lli/As on

31.03.2014
` '000)
(`

31.03.2013
` '000)
(`

22,450,397

19,859,373

3,281,838

2,750,706

307,464

285,387

+xS 16 - {Sx
SCHEDULE 16 - OPERATING EXPENSES
I)

ES E Mix il =xE B |vx

Payments to and provisions for employees

II)
II)
IV)
V)
VI)

c, E B x /Rent, Taxes and Lighting

ph + Jx O / Printing and stationery
Y{x + |S /Advertisement and publicity
E E {k { +I /Depreciation on Banks property
xnE E , k + /
Directors fees, allowances and expenses

VII)

X)
XI)
XII)

284,597
728,355

28,511

13,518

243,854

152,026

189,113

166,163

598,660

379,395

682,491

574,662

J{IE E +
(J J{IE i)

Auditors fees and expenses

(including branch auditors)
VIII) v | /Law charges
IX)

355,801
818,161

bE, i, ]x +n / Postages,Telegrams,Telephones etc

i + +xIh / Repairs and maintenance
/Insurance
+x / Other expenditure
E /Total :

122

1,683,818

1,342,718

3,926,287

3,044,109

34,566,395

29,581,009

+xS -

17

i{h J xi

Schedule 17 - SIGNIFICANT ACCOUNTING POLICIES

i E +v
k h E, V +xl =Ji x , J E {{Mi
Mi {{] B ={Si +v { il vE |vx B
xi: E J ri E +x{ x M *

1. Basis of Preparation

k h i V E (..E) u + +Yx,
+i MEh, |vxEh il +x vi { V EB
MB Mn xn i xn JE lx u V J
xE B +x =nPh+ il i E EM =tM |Si
J {ri E +x{ *

The financial statements also conform to the guidelines issued

by the Reserve Bank of India (RBI) in respect to income
recognition, asset classification, provisioning and other related
matters and Accounting Standard and other pronouncements
issued by the Institute of Chartered Accountants of India and
accounting practices prevalent in the banking industry in India.

n E/J+ E v vE |vx B vi
n |Si {{] E +x{x E Vi *

In respect of foreign offices/branches statutory provisions and

practices prevailing in respective foreign countries are
complied with.

2. |CEx

2. Use of Estimates

1.

E ={M

The financial statements have been prepared under the

historical cost convention and accrual basis of accounting,
unless otherwise stated and are in conformity with the statutory
provisions and generally accepted accounting principles.

k h E i Ex E B |vx +{Ii E
k h E il E +i + ni+(+EE ni+
i) E {] E M< B {]M +v i {] E M<
+ + E { S Ei B |CCx E B +xx
MB* |vx E E k h i Ex i ={M
EB MB |CEx E{h B Si * {h <x |CEx
z Ei * J |CEx E vx E, V iE E
+xl =Ji x , S B +v i | {
{Sx E Vi *

The preparation of financial statements requires the

management to make estimates and assumptions considered
in the reported amount of assets and liabilities (Including
contingent liabilities) as of date of the financial statement and
the reported income and expenses for the reporting period.
Management believes that the estimates used in preparation
of the financial statement are prudent and reasonable. Future
results could differ from these estimates. Any revision to the
accounting estimates is recognized prospectively in the current
and future periods unless otherwise stated.

n p v xnx
3.1 i E J+/E i :
(i) n J+ E xx-<]O x +{x E {
MEi E M il =xE k h E xxx
|ni E M :
B) pE B M-pE +i B niB il +EE
niB x BCSV b BBx + <b (b<)
u |iE i E {i { n Vx +i {]
n {*

3. Transactions involving Foreign Exchange

3.

(ii)

3.1 Branches / Offices outside India

(i) Foreign Branches are classified as "Non-integral Foreign
Operations" and their financial statements are translated
as follows:
a)

Both monetary and non-monetary Assets and

Liabilities as well as Contingent Liabilities at the
closing spot rates notified by the Foreign Exchange
Dealers Association of India (FEDAI) at the end of
each quarter.

) V n b< u vi i E {i { +vSi
i +i +i n { {ii E Vi *

b)

Revenue items are translated at the quarterly average

closing rate notified by FEDAI at the end of respective
quarter.

) {h x +i E BE +M Ji n p
]x W J Vi *

c)

All resulting exchange difference is accumulated in a

separate account Foreign Currency Translation
Reserve.

n li |ixv E E {Sx E <]O x

+{x E { MEi E M il =xE k h
E Mhx xxx E Vi :

(ii) Operations of representative offices abroad are classi

fied as Integral Foreign Operations and their financial
statements are accounted for as follows:

B) pE +i B niB, M], Ei, {Ex

il +x |iriB b< E nxnx |iE i
E +i |Si {] x n { i {
+E Vi *

a)

All monetary Assets and Liabilities, Guarantees,

Acceptances, Endorsements and other obligations are
translated to Indian rupee equivalent at the spot
exchange rates prevailing at the end of each quarter
as per FEDAI guidelines.

) M-pE n xnx E il { |Si x n {

+E Vi *

b)

Non-monetary items are translated at exchange rate

prevailing on the date of transaction.

123

) V n E Mhx xnx E il { |Si x

n { E Vi *
b) {h x +i E -x Ji M
*
(iii) +O E i E |Si h E +iMi MEi
E Vi * +O E v |vx lx v +{I+
+l ..E E xE, V +vE , E +x E
Vi *
3.2 i J+ i
(i) n p +i +l niB (BBx+
Vx, <<B Vx, +B Vx <in E +iMi
O E M< V i) + E n x n+
E i E +i i n p { P (b<) u
lSi n { {ii E Vi *

(ii)

b< E nxnx n x E E {xx

Vxi /x il x] Ji E V E +iMi n
Vi *
n p vi + il n E xnx E nx M
x n { {ii E Vi *

(iii) M]

4.
(i)

(ii)

Revenue items are accounted for at the exchange

rates prevailing on the date of transaction.

d)

All resulting exchange differences are accounted for

in Profit & Loss Account.

(iii) Advances are classified under categories in line with

those of Indian Offices. Provisions in respect of advances
are made as per the local law requirements or as per the
norms of RBI, whichever is higher.
3.2 Branches in India
(i) Foreign currency balances whether of assets or liabilities
[including deposits mobilized under FCNR Scheme, EEFC
Scheme, RFC Scheme etc.] and outstanding forward
exchange contracts are converted at quarter end rates as
advised by Foreign Exchange Dealers Association of India
(FEDAI).
The resultant profit/loss on revaluation of forward
exchange contracts and NOSTRO accounts is taken to
revenue as per FEDAI guidelines.
(ii) Income and Expenditure items relating to foreign currency
are converted using the exchange rate prevailing as on
the date of transaction.

i Ei, {` Ex + +x ni E
|iE i E +i b< u Si |Si V n {
+E Vi *

(iii) Acceptances, endorsements and other obligations

including guarantees are stated at FEDAI advised rates
prevailing at the end of each quarter.

x
EM xx +vx 1949 E i +xS E E
E +{I E +x x E |E]Eh E xxJi U
MEi E Vi :
(B) E |ii,
() +x +xni |ii,
() ,
(b) bS B b,
(<) +xM lB/H =t il
(B) +x
E E x {] E i V E E nxn
E +x +M ix M MEi E Vi ,

4.

Investments

(i) In conformity with the requirements in Form A of the Third

Schedule to the Banking Regulation Act, 1949,
Investments are classified into the following six groups :
(a)
(b)
(c)
(d)
(e)
(f)

Government Securities,
Other Approved Securities,
Shares,
Debentures & Bonds,
Subsidiaries/ Joint Ventures and
Others

(ii) The Investment portfolio of the Bank is further classified

in accordance with the RBI guidelines into three categories
viz.,

(B) {{Ci iE vi (BS]B)

() G i ={v (BBB)
() { i vi (BSB])
(iii)

c)

(a) Held to Maturity (HTM)

(b) Available for Sale (AFS)
(c)

Held for Trading (HFT)

(B) x V E {{Ci iE vi Ex Si , E
{{Ci iE vi E { MEi E Vi *

(iii) (a)

Investments that the Bank intends to hold till maturity

are classified as Held to Maturity.

() x V G E il 90 nx i riE {
{xG i vi E Vi , E { i vi E
{ MEi E Vi *
() x V =Ci nx h ME i x , E G i
={v E { MEi E Vi *

(b)

Investments that are held principally for resale within

90 days from the date of purchase are classified as
Held for Trading.

(c)

Investments, which are not classified in the above

two categories, are classified as Available for sale.

(b) x E G E = {{Ci iE vi,

i vi +l G E B ={v E { MEi
E Vi B h ii{Si }]M xE
nxn E +x{ E Vi *

(d)

An investment is classified as Held to Maturity, Held

for Trading or Available for sale at the time of its
purchase and subsequent shifting amongst
categories is done in conformity with regulatory
guidelines.

124

(<) +xME, Ci =t il M l x E
{{Ci i vi E { MEi E Vi *.
(iv)

i V E E nxn E +x Ex E |Vx
i xxJi ri +{xB MB *
(B)

(i)

(ii)

(v)

(vi)

x E |{i E Mi

Investments in subsidiaries, joint ventures and

associates are classified as Held to Maturity.

(iv) As per RBI guidelines, the following principles have been

adopted for the purpose of valuation.

BS]B vi |ii- +Vx Mi {

+Ei +vE +Vx Mi E {{Ci E
+v {vi E Vi *
Ij Oh E, +xM B H =t x
E J Mi { Ei E Vi *
, +l< <i, n E< , B x E
Ex i |vx E Vi *

() (i) BBB B BSB] h vi |ii E

x G{ E Vi * r/ E |ii E
|iE h Vc Vi + |V xnb E
+x -x Ji x E {Sx
E Vi VE x r E Yx x
Vi *
+x{V |ii (V V/vx 90 nx +vE E
+v E ) E + +Yi x E Vi
il +i MEh E E{h xnhb +{xi B |ii
E +I i Si |vx E Vi + B
+I E +x x{nE |ii r E n ]-+ x
E Vi *
z

e)

(a) (i) Securities held in HTM at acquisition cost

The excess of acquisition cost over the face value
is amortized over the remaining period of maturity
(ii) Investments in Regional Rural Banks, subsidiaries
and Joint Ventures are valued at carrying cost.
Diminution, other than temporary, if any, in
valuation of such investments is provided for.
(b) (i)

(v)

Securities held in AFS and HFT categories are

valued scrip-wise. Appreciation/depreciation is
aggregated for each class of securities and net
depreciation as per applicable norms is
recognized in the Profit and Loss Account,
whereas net appreciation is ignored.

In respect of non-performing securities (where interest/

principal is in arrears for more than 90 days) income is
not recognized and appropriate provision is made for
depreciation in the value of the securities by applying
prudential norms of asset classification and such
depreciation is not set-off against the appreciation in
respect of other performing securities.

(vi) Cost of acquisition of investments

G< E M< |ii E |ix il

Ex + ]-Bb E E x *
Ex, n, |ii x-nx E il ]{ b]
x *

is net of incentives/commission and front-end fees

received in case of securities subscribed, and

excludes commission, brokerage, securities

transaction tax and stamp duty.

(vii)

x E G |{i /x E B x J
+Yi E Vi * il{ {{Ci iE vi MEh
x E G |{i E i (E
E x + vE +Ii E +ih E x) {V
+Ii Ji xVi E Vi *

(vii) Profit/loss on sale of investments in any category is

recognized in the Profit and Loss Account. However, in
case of profit on sale of investments in HTM category,
an equivalent amount (net of taxes and net of transfer to
Statutory Reserves) is appropriated to the Capital Reserve
Account.

(viii)

x E V E xvh i ]E BCSV E]x

B+<BBbB/{bB+< u |ii n E +{x Vi
* B E]x/n E + V E xvh
B+<BBbB/{bB+< +l i V E u xvi
xnb E +x Si {{Ci |i n { E
Vi *

(viii) For the purpose of determining market value of

investments, Stock exchange quotations or rates put up
by FIMMDA/PDAI are adopted. In absence of such
quotations/rates, the market value is determined by
applying appropriate Yield to Maturity rates as prescribed
by FIMMDA / PDAI or as per norms laid down by the
Reserve Bank of India.

(ix)

h E S |ii E +ih

(ix) Transfer of Securities between categories

(x)

={H { 4 (ii) (E) (M) xn] h E S

|ii E +ih, +ih E il E +Vx Mi/
/V E Ei { xE Vi * B
+ih { , n E< , =E {hi |vx E
Vi *
i V E E nxn E +x z h E {
E x xxx E Vi *

The transfer of securities between categories specified

at para 4 (ii) (a) to (c) above are carried out at the lower of
acquisition cost / book value /market value on the date of
transfer. The depreciation, if any, on such transfer is fully
provided for.
(x) As per RBI guidelines, the different categories of
Swaps are valued as under:

125

V {

Interest rate swaps which hedges interest bearing

assets or liabilities are accounted for on accrual
basis except the Swaps designated with an assets
or liability that is carried at market value or lower of
cost or market value in the financial statements.

V n {, V V +i + ni+ E S
Ei , E ={Si +v { Vi = +i
+l ni i xq] { E Uc E V k h
V { +l Mi V E {
Vi *
{ E xx { x +l x E { E nMi
+v +l +i/ni+ E +v E { +Yi
E Vi *
z

5.
(i)

(ii)

(iii)

6.
(i)

(ii)
(iii)

(iv)

(v)
(vi)

7.
(i)

Gains or Losses on the termination of Swaps are

recognized over the shorter of the remaining
contractual life of the Swap or the remaining life of
the assets / liabilities.

]bM {

]bM { xnx E k h nV {ix E

l V Sxi E Vi *
+O
i +O E xE, +xE, nMv +l xMi E
{ MEi E Vi + i V E u xvi
E{h xnb E +x |vx E Vi * n
J+ EB MB +O E v i V E u
xvi E{h xnb + V n +O nB MB
=xE lx Exx, V +vE Ec , E +x MEi
E Vi *
|E]i +O +xVE +O i EB MB |vx + Si
+O E =Si E E n EB MB |vx E x
i * Si +O E =Si E E |vx E
E nxn E +x x ix { { Vi
*
il{ i V E E nxn E +x xE +O
(={V) i EB MB |vx E +x niB B |vx E
ii E Vi *
l +i +
Ei{ { E +, Vx =xE {xEi
n M , +x { + +x l +i E =xE
{i Mi { n Vi *
xh +v E nx EB MB {VMi E +x +i
E +iMi E Vi *
+I E |vx, BB{B B E{] E UcE, V
i V E E nxn E +x{ v {ri 33.33%
E n +I E |vx , E{x +vx, 1956 E
+xS XIV xvi n { x {ri E +v {
E Vi *
{x Ei +i E v {x Ex E { +iH
+I E E +Ii {V x J +ii
E Vi *
V b { | E V E +v E n x v J
{ri { {vi E Vi *
n J+ E l +i { +I E Mhx = n
|Si Exx E +x E Vi *
+i +i (E{] }])
E{] i }], V ] }] E x E{]
{Si x Ei, r b E +z M , il
+S +i x Vi * V }] b E +z

Hedge Swaps

Trading Swaps
Trading Swap transactions are marked to market with
changes recorded in the financial statements.

5.

Advances

(i) Advances in India are classified as Standard, Sub

Standard, Doubtful or Loss assets and provisions for
advances are made as per Prudential Norms of the RBI.
In respect of advances made in overseas branches,
advances are classified in accordance with prudential
norms prescribed by the RBI or local laws of the host
country in which advances are made, which ever is more
stringent.
(ii) Advances disclosed are net of provisions made for non
performing advances and provisions in lieu of diminution
in the fair value of restructured advances. The provision
for diminution in fair value of restructured advances is
measured in net present value terms as per RBI
guidelines.
(iii) The provision made for standard advances (performing)
in terms of RBI guidelines is however included in Other
Liabilities and Provisions.
6.

Fixed Assets and Depreciation

(i) Premises including Freehold and other Fixed Assets are

stated at historical cost except certain premises, which
are stated at their revalued amount.
(ii) Capital expenditure incurred during construction period
is included under Other Assets.
(iii) Depreciation is provided on diminishing balance method
at the rates and the manner prescribed in Schedule XIV
of the Companies Act, 1956 except that in respect of
ALPMs and Computers, where depreciation is provided
on straight line method @ 33.33% as per guidelines of
Reserve Bank of India.
(iv) In respect of revalued assets, the amount of additional
depreciation consequent to revaluation is transferred
from Revaluation Reserve to the Profit & Loss Account.
(v) Premium on leasehold land is amortized over the period
of the lease on straight line method.
(vi) Depreciation on Fixed Assets of foreign branches is
provided as per the applicable laws prevalent in that
country.
7.

Intangible Assets (Computer Software)

(i) Software for a computer that cannot operate without that

specific software is an integral part of related hardware
and is treated as fixed assets. Where the software is not

126

(ii)

8.
(i)

(ii)

+M x E{] }] E +i +i x
Vi *
b |{i E{] }] E i +i +i x VM
V }] E /Mi `10 J +vE * <
|E E +i +i =xE G +v E n x +vEi
n E +v iE {vi E Vi *

an integral part of the related hardware, computer software is recognised as an Intangible Asset.
(ii) Computer software acquired from vendors is recognised
as Intangible Asset only if the value /cost of the software
is more than `10 Lakhs. Such intangible assets are
amortised over its effective life subject to a maximum
period of ten years.

ES
E x ES E v +{x ni+ E xi i
i xn JE lx u V J xE 15(vi)ES M E *

8. Employee Benefits

nPv {i ES E |i ni E xvh i
+ E +i ij EE u +vi Vx+ E
xvx v E E xi Ji v E {x Ei B
+ xS =Ji xi E +x {Vi <E< |h
E |M Ei B Sx MB z EE {xx u E
Vi *

(ii) Liability towards long term defined employee benefits is

determined based on actuarial valuation by independent
actuaries at the quarter as well as in year-end by using
various Actuarial Assumptions chosen following the
modalities documented in the Banks Policy on Funding
Superannuation Schemes and the Projected Unit Credit
method as per policies mentioned herein below:

(i) The Bank has applied Accounting Standard 15(Revised)

Employees Benefits, issued by the Institute of Chartered
Accountants of India, for recognition of its liabilities in
respect of employee benefits.

B. OS]
E lli OS] Mix +vx, 1972 / {S]/
xx E |vx E v +{x ES E xk
+l i +l {i +n E OS] E
Mix Ei * OS] E Mix i E E +nx Vi
xv E JJ +iE ]] u E Vi * E <
xv +{x +nx OS] E v +{x ni E EE
x E +v { Ei *

a. Gratuity

. {x (B<{+)
<n E (ES) {x xx, 1995 (B<{+) E
+iMi E =x ES E {x E Mix Ei Vxx
< xx E +iMi {x E E{ n + =x
ES E V E 29/09/1995 31.03.2010
E +v E nx +B * < Vx ix + +E
E +v {, xk/i, V , E li
<x ES E E +v { {x nx E |vx *
{x E Ji +xv { {x E +vEi 1/3 E
{ii Ex E |vx * {ii {x 15 {h
x E {Si {x: S E Vi * B<{+-1995 E
+iMi ES xv E E +nx E {j
x * {x E Mix i E E +nx Vi xv E
JJ +iE ]] u E Vi * {.B. E EM
i ES E ix E 10% E vE E
+nx E +iH E < xv +{x +nx {x E
v +{x ni E EE x E +v { Ei V
E +xni EE u E Vi *

b. Pension (ABEPR)

. +E E i (BB)
v ES E |nx E Vi + < =tM
Zi/+b E +x - { lvi
x E +x Vx E +iMi l{i vi ES
E { E n E v EB MB j E |i{i
* M xvE Vx + E +{x Vx E
+iMi +E E i ni E v |vx EE
127

The Bank pays gratuity in case of retirement or death or

resignation or termination etc. of its employees, having
regard to the provisions of Payment of gratuity Act, 1972 /
Service Awards / Service Regulations, as the case may
be. A fund created out of Banks contribution is maintained
by an in-house Trust for payment of gratuity. The Bank
makes contribution to this fund on the basis of actuarial
valuation of its liability.

The Bank pays pension under Allahabad Bank

(Employees) Pension Regulations, 1995(ABEPR-1995)
to employees, who exercised option under the
Regulations and also to Employees joining the Banks
Service during the period from 29.09.1995 to 31.03.2010.
The plan provides for a pension / family pension on
monthly basis in respect of these employees on their
retirement / death, as the case may be, based on the
salary and qualifying service of the respective employees.
There is also provision for commutation of pension to a
pensioner, against written request, to the maximum extent
of 1/3rd of Basic Pension. The commuted basic pension
is restored after completion of 15 years of commutation.
Employees covered under ABEPR 1995 are not eligible
for Banks contribution to Provident Fund. A fund created
out of Banks contribution is maintained by an in-house
Trust for payment of Pension. The bank makes
contributions to this Fund on the basis of actuarial
valuation of its liability in respect of Pension, which is
conducted by approved Actuary, in addition to the statutory
monthly contribution of 10% of Pay of the covered
employees, ranking for PF.
c. Leave Fare Concession (LFC)
This facility is granted to the employees and extends to
reimbursement of travelling expenses incurred for the
family members of the employee concerned, as defined
under the Scheme, in terms of service rules as amended
from time to time as per Industry wide Settlements /
Awards. It is a non-funded scheme and the Bank

(iii)

(iv)

(v)

9.

x E +v { Ei * x |iE i E
+xni EE u E Vi * BB vi
Mix E E -x Ji E Vi *

maintains a provision on account of its liability in respect

of Leave Fare Concession under the Scheme on the
basis of actuarial valuation, which is conducted by
approved Actuary. Payment in respect of LFC facility is
made through the Profit and Loss Account.

b. +E xEnEh
E BB v E ={M Ex ES E
E S E E +vEi 30 nx E vE +E
E xEnEh E +xi |nx Ei * xk +l
i x { ES E Ji V vE +E, +vEi
240 nx E xEnEh E +xi n Vi * ES
u iM{j nx E xEnEh E
vE +E E 50% + +vEi 120 nx iE i
* M xvE Vx + E < Vx E +iMi
+E xEnEh ni E v |vx EE x E
+v { Ei x E +xni EE u
E Vi * B +E xEnEh E Mix E E x Ji E Vi *

d. Leave Encashment
The Bank permits encashment of Privilege Leave
balance to it employees availing LFC facility, up to the
maximum limit of 30 days leave in a block of four years of
service. Encashment of privilege leave standing to the
credit of an employee is also permitted in case of
retirement or death subject to a maximum of 240 days. In
case of resignation from the service by an employee,
such encashment is restricted to 50% of the balance of
privilege leave subject to a maximum of 120 days. It is a
non-funded scheme and the Bank maintains a provision
on account of its leave encashment liability under the
Scheme on the basis of actuarial valuation, which is
conducted by approved Actuary. Payment of such leave
encashment is made through the Profit and Loss Account.

xv E v E +v i xv E M +nx
E { +Yi E Vi + + x Ji
|i E Vi *
nxE 27.04.2010 E =tM- Zi/Ci x] E +x
nxE 01.04.2010 E +l n E E +B
ES {i +nx xk Vx *

(iii) In respect of Provident Fund, the contribution for the period

is recognized as expense and charged to Profit & Loss
account.

+{v ES E = E x J +]]Ei
E { +Yi E Vi V vi
B |nx E Vi *

(v) Short-term employee benefits are recognized as an

expense at an undiscounted amount in the Profit and Loss
Account of the year in which the related services are
rendered.

+ + E +Yx

(iv) In terms of Industry wide Settlement/Joint Note dated

27.04.2010, employees joining the services of the Bank
on or after 01.04.2010 are covered by defined contribution
retirement benefit scheme.

9.

(i)

+- E xi: ={S +v { E Vi

(i) Income and Expenditure are generally accounted for

on accrual basis unless otherwise stated.

(ii)

+x{V +i E { MEi +O { V il
+x + E E j iE +xvi E Vi *

(ii) Interest and Other Income in cases of Non Performing

Assets/Investments are recognized to the extent
realized.

(iii) +

E E { { V |{i + + V E E
Mhx vi E xvh +vE u +n V EB
Vx E Vi *
10. {]]
E u |{i EB E ={Si +v { -x J +Yi
E Vi *
{Sx {]] { M< +i i {]] E Mix -x
J E { +Yi E Vi *
11. |i +Vx
|i <C] E + b<]b +Vx E {] i
xn JE lx u V J xE 20 |i +Vx
E +x E Vi *
12.
(i)

Recognition of Income and Expenditure

Evx
E i |vx S (xxi E{E E (]) i) +
+lMi nx E i E Vi * E M + { S
E E |vx, |V E n + E x E |M EE
E Vi * J xE 22 E +x{x : i E xn
JE lx u V + { E i J,
+i E Eh =i{z +lMi E +i + niB, V

(iii) Income from interest on refund of Income Tax and on

Interest Tax are accounted for in the year in which it is
received.
10. Lease
Rentals received by the Bank are recognized in the profit and
loss account on accrual basis.
Lease payments for assets taken on operating lease are
recognized as an expense in the profit and loss account.
11. Earnings Per Share
Basic and Diluted Earnings per Equity Share are reported in
accordance with the Accounting Standard 20 Earnings per
share issued by the Institute of Chartered Accountants of
India.
12. Taxation
(i) Provision is made for both current tax (including Minimum
Alternative Tax - MAT) and deferred tax. Current tax is
provided on the taxable income using applicable tax rate
and tax laws. In compliance with Accounting Standard
22 : Accounting for Taxes on Income issued by the
Institute of Chartered Accountants of India, deferred Tax

128

(ii)

{i +v |iix E M , ix {j E il iE
xB MB n x Vx E x + E n E
|M EE +Yi E Vi *

Assets and Liabilities arising on account of timing

differences and which are capable of reversal in
subsequent periods are recognised using the tax rates
and the tax laws that have been enacted or substantively
enacted till the date of the Balance Sheet.

xxi E{E E (]) V E +i E { i x

VBM V B {] |h E E{x +-E +vx
1961 E ii xn] +v E +n x E E Mix E
nM*

(ii) Minimum Alternative Tax (MAT) credit is recognised as an

asset only when and to the extent there is convincing
evidence that the company will pay normal income tax
during the period specified under the Income Tax Act,
1961.

xEn B xEn i
xEn B xEn i l xEn + B]B xEn il
i W E *
14. +i E <{]
+S +i ({xEi +i i) { <{]
(n E< ) E +Yi E M il i xn JE
lx u V J xE 28 +i E <{] E +x
-x Ji |i E Vi *
13.

15.
(i)

|vx,+EE niB il +EE +i

i xn JE lx u V J xE 29 |vx,
+EE niB B +EE +i E +x{ E |vx
i +Yi Ei V
B) E {U P]x E {h{ ix ni
=i{z i
) E +lE vx E |
ni E vx i +{Ii M +

(ii)

) V ni E E x +xx E V Ei
*
xxJi E B |vx +Yi x E Vi;

13. Cash and Cash equivalents

Cash and cash equivalent include cash on hand and in ATMs
and balances with RBI.
14. Impairment of Assets
Impairment losses (if any) on Fixed Assets (including revalued
assets) are recognized and charged to Profit & Loss Account
in accordance with the Accounting Standard 28 Impairment
of Assets issued by The Institute of Chartered Accountants
of India.
15. Provisions, Contingent Liabilities & Contingent Assets
(i) In conformity with AS 29. Provisions, Contingent
Liabilities and Contingent Assets, issued by the Institute
of Chartered Accountants of India, the Bank recognizes
provisions only when
a) it has a present obligation as a result of a past event;
b) it is probable that an outflow of resources embodying
economic benefits will be required to settle the
obligation; and
c) when a reliable estimate of the amount of the
obligation can be made.
(ii) No provision is recognized for;

B) {U P]x+ =i{z E< i ni + VE

+ii = P]x E x +l x x { x EM
+l E B +xSi P]xB V {hi E E
xjh x *

a) Any possible obligation that arises from past events

and the existence of which will be confirmed only by
the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of
the Bank; or

) E< ix ni V {U P]x+ =i{z +

= +Yi x E M CE :
i) x E +lE vx E
| ni E vx i +{Ii M +l

b) Any present obligation that arises from past events

but is not recognized because
i) it is not probable that an outflow of resources
embodying economic benefits will be required to
settle the obligation; or

ii)

ni E E x +xx x E V
Ei *

ii) a reliable estimate of the amount of obligation

cannot be made.

iii)

+EE ni+ E xi +i { xvh

E Vi + ni E E = M E B
|vx E Vi VE B +lE
vx E | , =x +ii +vh
{li E Uc E V ni E E x
+xx x E V Ei *

iii) Contingent Liabilities are assessed at regular

intervals and only that part of the obligation for
which an outflow of resources embodying
economic benefits is probable, is provided for,
except in the extremely rare circumstances where
no reliable estimate can be made.

iv)

k h +EE +i E +Yi x
E Vi CE <E {h{ B + E
+Yx Ei V E x V Ei*

iv) Contingent Assets are not recognized in the

financial statements as this may result in the
recognition of income that may never be realized.

129

+xS - 18 J ]{{h
1.

SCHEDULE - 18 NOTES ON ACCOUNTS

i V E E nxn E +x{ ={V il +x{V

+O i {{i |vx E M *

1.

+i J Vx E |] E x +
vx v E |Mi { B JE z J
x + V |] E 31.03.2014 iE
|E x E n M * J v i +i
vx, {h |, n E< , |vx E
i{h x M*
(ii) EU J+ V, +O B x] Ji E v
h E i/Ji E x/vx E E |Mi
{ * =H Ij < {{i |Mi E qxV |vx E
+i E E E J { vx E |, +M
i, iiE x M*

2.1. (i) Reconciliation and clearance of outstanding entries

in Inter Branch adjustments are in progress and
especially initial matching of debit and credit entries
in various heads have been done upto 31.03.2014.
Pending final clearance, the overall impact, if any, on
the accounts, in the opinion of the management will
not be significant.

2.1 (i)

31.03.1997, 31.03.2005 il 31.03.2007 E {i

B Ei{ { E {xEx +xni EE
E {] E +v { E M + G: `125.99 Ec
(hVE B +), `370.08 Ec (hVE B
+) il `298.32 Ec (hVE) E =vM vx
E {x x +Ii E V E M* |iE {x Ei
{ { E {Ex +Ji { E
VBM* {xEx E Eh `3.87 Ec (Mi `4.01
Ec) E +iH E {V +Ii +ii E
+xS .14 n (vii) +x + E +iMi v
+ n M *

2.2 (i)

(ii) V

Jb E +M Mi ={v x , B
+I E Jb il x E Mi { |i
E M *
(iii) V Mi ={v x {]] +v i {]]vi
{ | E {vx Mi +v { +l +Ji
{ E M *
(iv)xxJi {k E {VEh E +{SEiB {
E Vx *
E. 1990 + 1998 E nx EEi B x G:
29 + 10 ] 2 + {k Jn M<
VxE Mi `0.86 Ec *
J. E x r xM {]x 1.01BEc 07.09.1917
E E {]] { +]i E l* { E E
E { * {U {]] 07.09.2012 E {i
M* 07.09.2012 30 E +iH +v i
{]] E xEh E B Mix `70.70 J E BEi
| Mix u + `7.07 J E EB E n
E E E M* E u {]]
J E x{nx E |Gvx *
M. {n{, +b 02.04.2013 24 + ]
17520 M] Ij + {] E {]] E
130

Adequate provision has been made by the Bank in respect

of performing and non-performing advances in terms of
Reserve Bank of India (RBI) guidelines.

(ii) At some branches, preparation of details/balancing/

reconciliation of accounts relating to Balances with
Banks and NOSTRO Accounts are in progress. Since
substantial progress has been made in the above
areas, the management is of the view that the impact
of reconciliation, if any, on the accounts of the Bank
will not be material.
2.2 (i) Certain premises were revalued on the basis of the
reports of the approved valuers during the year ended
on 31.03.1997, 31.03.2005 and 31.03.2007 and upward
revision amounting to `125.99 Crore (commercial and
residential), `370.08 Crore (commercial and residential)
and `298.32 Crore (commercial) respectively had been
credited to Revaluation Reserve. Depreciation on
Revalued premises is worked out each year on its written
down value. Additional depreciation of `3.87 Crore
(previous year `4.01 Crore) on account of revaluation
has been transferred from Revaluation Reserve Account
and shown in Miscellaneous Income under the head
Other Income included in Schedule No. 14 item (vii)
(ii) Depreciation has been charged on composite cost of
Land and Building, where separate cost of land is not
available.
(iii) Premium on leasehold land has been amortized over
the period of lease, based on cost or written down
value, where original cost is not available.
(iv) Registration formalities are yet to be completed for
the following properties:
a. Two (2) residential properties purchased during the
year 1990 & 1998 at Kolkata & Bhubaneshwar
consisting of 29 & 10 flats respectively with total
original cost of `0.86Crore.
b. The Govt.of Bihar had allotted 1.01 acre of land at
Budh Marg Patna on lease to the Bank
w.e.f.07.09.1917. Bank is having its office complex
there. Last lease expired on 07.09.2012. Payment
for renewal of lease for further period of 30 years
w.e.f. 07.09.2012 by payment of one time premium
for `70.70 lacs and annual rent @ `7.07 lacs has
been made to the Govt. of Bihar. The matter for
execution of lease deed by the Govt.of Bihar is
under process.
c. Renewal of lease of residential plots of land
measuring 17520 sq.ft area at Paradeep, Odisha

(v)

xEh E {n{ {] ]] E l =` M
+ =xE Svx *

having 24 residential flats w.e.f. 02.04.2013 has

been taken up with Paradeep Port Trust (PPT) and
is under their consideration.

+i +i i +x +i E h xxx
:

(v) Other Assets include intangible Assets, details of which

are as under.
(` Ec ) /(` in crore)

h / Particulars
+l / Opening Balance
E nx Vc / Additions during the year
E nx {vi / Amortized during the year
<i / Closing Balance

2.3.(i) `0.44

Ec (Mi `1..25 Ec) E +Ei E

x E v E E + G{/]E] |{i
Ex *
(ii) , {ix bS il <C] Vc S+
b/S E{] b E x] i E {I
+O E x `916.91 Ec (Mi `719.60
Ec) *
(iii) i V E E nxn E +x `3.28 Ec
(Mi `31.49 Ec ) E , V E b ] S]
h |ii E G x E x
, E {V |Ii Ji +ii E M *
(iv) V E i{h J xi J 4 (iv) (E) =Ji
, b ] S] h E E n x {vi
|ii E +Ei E >{ `61.37 Ec (Mi
`54.68 Ec) E +iH +Vx Mi il V
x { + P]E ..E E xnx x Ji E +Vi V E +iMi n M
*
2.4. E x E nx Vx ]bM E B E< k{h x E
+ x E +i E |iiEh E *
3. E E nxn E +x |E]Eh :
3.1. {V
i V E E {{j b+b.{..88/21.06.201/
2012-13 nxE 28 S 2013 E +x E E Si E
M E Vx 2013 E {i i -*** x E
+iMi Mhx EB MB {V {{ii +x{i E |E] E* inx,
{U +v/ i o h ={v x + <B
|ii x EB MB *
h

2.3. (i)

ii)
iii)
iv)
v)

/ F.Y. 2012-13

33.72

33.73

10.19

5.15

9.44

5.16

34.47

33.72

In respect of Investments of face value of `0.44 Crore

(Previous year `1.25 Crore), the Bank is yet to receive
scrips/certificates.

(ii) Total Investments made in shares, convertible

debentures and units of equity linked mutual fund/
venture capital funds and also advances against
shares aggregate to `916.91 Crore (Previous year
`719.60 Crore).
(iii) As per RBI guidelines, an amount of `3.28 Crore
(Previous Year `31.49 Crore) being an amount
equivalent to profit on sale of Held to Maturity
category securities, net of taxes & net of transfer to
statutory reserve; is transferred to Capital Reserve
Account.
(iv) In respect of Held to Maturity category as stated in
significant Accounting Policy No. 4 (iv) (a), the excess
of acquisition cost over the face value of the security
amortized during the year amounts to `61.37 Crore
(Previous year `54.68 Crore) has been netted-off
from Income on Investment shown under the head
Interest Earned of Profit and Loss Account in terms
of RBI guidelines.
2.4. The Bank has not made any financing for margin trading
during the year and also not securitised any assets.
3. Disclosure in terms of RBI guidelines:
3.1

Capital

As per RBI Circular DBOD.BP.BC.88/21.06.201/2012-13 dated

28 March, 2013, banks have been advised to disclose Capital
Adequacy Ratio computed under Basel-III regulations from
the quarter ended June-2013. Accordingly, corresponding
details for the previous periods/year are not applicable and as
such not furnished.
(` Ec ) /(` in crore)

Particulars
i)

/ F.Y. 2013-14

k /F.Y.

k /F.Y.

2013-14

2012-13

7.35
7.51
2.45
9.96

NA
NA
NA
NA

58.90

55.24

x <C] ]-* {V +x{i (%)

Common Equity Tier 1 capital ratio (%)
]-* {V +x{i (%) /Tier I capital ratio (%)
]-** {V +x{i (%)/Tier II capital ratio(%)
E {V +x{i(+B+) (%)/Total Capital ratio (CRAR) (%)

i E E vh E |iii/
Percentage of the shareholding of the Government of India

131

=M M< <C] {V E /

vi)

Amount of Equity Capital raised

400.00
(including
premium)

x/NIL

x/NIL
x/NIL

x/NIL
x/NIL

x/NIL

x/NIL

=M M< +iH ]-* {V E , V

vii)

Amount of additional Tier I capital raised; of which

{.Bx..{.B/PNCPS:
{b+</PDI:
viii)

=M M< +iH ]-** {V E , V /

Amount of Tier II capital raised; of which
b] {V Ji/Debt capital instrument:

+vx {V Ji ({{S+ C] |
({{B)/ (b xx-C] | )
(+Bx{B) / (b C] |
(+{B) )
/Preference Share Capital Instruments: (Perpetual
Cumulative Preference Shares (PCPS)/Redeemable
Non-Cumulative Preference Shares(RNCPS)/ Redeemable
Cumulative Preference Shares (RCPS)

-** xnb E +x +B+ E |E]x xxx

The disclosure of CRAR as per BASEL-II norms are given

below;

G . h
Sr. No Particulars
i.
ii.
iii.

+B+ (%)/CRAR (%)

+B+ ]-* {V (%) /CRAR-Tier I Capital (%)
+B+ ]-** (%) CRAR-Tier II Capital (%)

k /

k /

F.Y. 2013-14

F.Y. 2012-13

10.26
7.67
2.59

11.03
8.05
2.98

(` Ec )

3.2. x / Investments

/(` in crore)

k /F.Y.

k /F.Y.

2013-14

2012-13

Particulars

x E /Value of Investments
(i) x E E /Gross Value of Investments
(B/a)i /In India
(/b)i /Outside India
(ii) +I i |vx / Provisions for Depreciation
(B/a)i /In India
(/b)i /Outside India
(iii) x E x / Net Value of Investments
(B/a)i /In India
(/b)i /Outside India
(2) x { +I E { vi |vx E Sx

(1)

64347.93
x/NIL

Movement of provisions held towards depreciation on investments.

(i) +l /Opening balance
(ii) Vc: E nx E M |vx /Add: Provisions made during the year
(iii) DxtYk& rlJuN fuU yvtuFl fuU rtY ={M E M |vx
Less: Write off/ write back of excess provision during the year
(iv) Less: Amount transferred on account of shifting of securities
(v) <i / Closing balance

i V E E {{j b+b.{..41/21.04.141/
2013-14 nxE 23 +Mi 2013 E +x E E x
{] - MEh, x + |vx E x ` 7961.10Ec
E BB+ |ii BBB h BS]B
h +ii E l + 30 i 2013 E {i i E
nx `61.35Ec E +ih x h E {hi x l*

58616.94
x/NIL

387.40

311.08

x/NIL

x/NIL

63960.53
x/NIL

58305.86
x/NIL

311.08
137.67

486.91
-

61.35
387.40

x/NIL

175.83
311.08

In terms of RBI circular DBOD.DP.BC.No.41/21.04.141/201314 dated August 23, 2013 on Investment Portfolio of Banks
Classification, Valuation and Provisioning, the bank had
transferred SLR securities having book value of `7,961.10
crore from AFS category to HTM category and had fully
recognized the category transfer loss of `Rs.61.35 crore during
the quarter ended September 30, 2013.

132

3.2.1

{ xnx (+Ei E { ) / Repo Transactions (in face value terms)

h
EEnnxx
EEnnx
xxiE
E
+vEi
E
x
xi E

Particulars

Minimum
Outstanding
during the year

{ E +iMi S M< |ii /Securities sold under repo

(i) E |ii /Govt Securities
(ii) E{] @h |ii /Corporate Debt Securities
{ E +iMi Jn M< |ii /
Securities purchased under reverse repo
(i) E |ii/Govt. Securities
(ii) E{] @h |ii /Corporate Debt Securities

(` Ec )/(` in crore)
31.03.2014
EEnnxx 31.03.2012
E
E lli
nxE E
+i lli
+vEi
nxE
+i
E
E

Maximum
outstanding
during the year

Daily Average
outstanding
during the year

Outstanding
As on
31.03.2014

208.00
-

3360.00
-

920.90
-

2262.00
-

104.00
-

3120.00
-

687.75
-

0.00
-

3.2.2 M-BB+ x {] / Non-SLR Investment Portfolio

i) nxE 31.3.2014 E lli M-BB+ x E VEi P]x/ Issuer composition of Non SLR investments as on 31.03.2014
(` Ec ) /(` in crore)

. VEi

xV {]
E mebt

"" <x]] Ob""

|ii E mebt

""+x ]b""
""+x ]b""
|ii E mebt |ii E mebt

No. Issuer

Amount

Extent of
Private
Placement

Extent of Below
Investment
Grade Securities

Extent of
Unrated
Securities

(1)
(i)
(ii)
(iii)
(iv)
(v)

(2)

(3)

(4)

(5)

Extent of
Unlisted
Securities

(6)

{B / PSUs
k lB /FIs
E / Banks
|<] E{]/

2554.84
3365.60
5999.76

2316.92
1797.71
116.70

x/NIL

Private Corporate

2264.33

1846.73

(7)

NIL
NIL

0.36
NIL
NIL

0.37
53.15
NIL

269.49

34.06

868.51

+xM lB /
H =t

Subsidiaries /
Joint Ventures
(vi) +x/Others
={E/ Sub-total

171.27

171.27

NIL

NIL

171.27

x/NIL

x/NIL

x/NIL

x/NIL

x/NIL

14355.80

6249.33

269.49

34.42

1093.30

i E
M |vx

Provision held towards

Depreciation
382.14
E /Total
13973.66
i)
ii)
iii)
iv)

/ Shares
bS B xb / Debentures and Bonds
+xM B H =t / Subsidiaries and Joint Ventures
+x / Others
E /Total

ii) M-x{nE

699.02
6292.93
171.27
7192.58
14355.80

M-BB+ x/Non performing Non-SLR investments

k /F.Y.

Particulars
+l- / Opening balance
E nx {vx 1 +| / Additions during the year since 1st April
=H +v E nx E / Reductions during the above period
<i- / Closing balance
vi E |vx / Total provisions held

133

2013-14
0.90
20.15
0.00
21.05
7.45

(` Ec ) /(` in crore)
k /F.Y.
2012-13
0.90
0.00
0.00
0.90
0.90

BS ] B h E / G B +ih& E nx
BS]B h /E G E | E 5% E
E +n *

3.2.3 Sale & Transfer to/from HTM category: All sales and
transfers to/from HTM category during the year are within the
limit of 5% of book value at the beginning of the year.

3.2.3

3.3. b<] / Derivatives

3.3.1. b n E/V n

/ Forward Rate Agreement / Interest Rate Swap

k /F. Y.

Particulars
(i)
(ii)

{ E E xx vx / Notional principal of swap agreements

+M E E +iMi |i{I +{x Sxri+ E { Ex
i = x P]
Losses which would be incurred if counterparties failed to
fulfill their obligations under the agreements

(iii)

{ x { E u Ui {E
Collateral required by the bank upon entering into swaps

(iv)

{ x @h VJ { ExpEh

(v)

Concentration of credit risk arising from the swaps

{ E E =Si / Fair value of the swap book

BCSV ]bb V n b<] : x ({U :

x)
3.3.3. b<] VJ BC{V vi |E]Eh
MhiE |E]Eh
3.3.2.

E E ]V J {Sx E ix EiE Ij l, ]
+, b + B E + E { H E M
Vx {i =kni B E+{ E E l |Ii
+vE |nx E M *
E E ]V B b<] xi k b<] Ji,
={M E Ij, +xnx |G i @h B l +{x
{Vx , +E B ]{ E l
+xni Ji ]bM i |iVi +vE hi * xi
G E ||<] ]bM {Vx E n Jn/G i E
+l {] +{x E Jn/G B +{x OE E E u E
] E EM E +vvx b<] =i{n |nx Ex E
+xi *
] + {Vx E b x{ni Ei VE b
+ ]bM E xnx E xMx Ei il +M +iH
{lx i i = =SSi |vE E VxE
Vi * b + {E ={Eh l, B]B, B+, ExC]
B {vi E v nxE +v { xnx i k
VJ E { Ei * +Ec E {]M VJ |vx
M E E Vi V +i B ni |vx vi xnE
E i E VJ |< +Mi Ei * E +
|i{I {] i b E x{] Ei *
E +i +l ni E { xq] {, V V
+l Mi E +l k h V { E
Vi , E UcE V +i +l ni+ E |iI
Ex V n { E |ni +v { Jr E Vi
* { {i x { +l P] E { E nMi
EE +l +i/ni+ E EE E { Ei

3.3.2

(` Ec ) /(` in crore)
k /F. Y.

2013-14

2012-13

500

500

x /NIL

x /NIL

Banking

Banking

(18.31)

(28.69)

Exchange Traded Interest Rate Derivatives: NIL

(Previous year: NIL)

3.3.3 Disclosures on risk exposure in derivatives

Qualitative Disclosure
Operation in the Treasury Branch of the Bank are segregated
in three functional areas i.e. Front Office, Mid Office and Back
Office, which are provided with trained officers with defined
responsibilities and back up roles.
The Treasury Policy & Derivative policy of the Bank lays down
the type of financial derivatives instruments, scope of usages,
approval processes as also the limits like the open position
limits, deal size limits and stop loss limits besides delegated
power for trading in the approved instruments. The policy also
allows purchase / sale of call or put options to hedge cross
currency proprietary trading positions and to offer derivative
products to its customers subject to back to back covering by
the Bank.
The Front Office takes positions and executes the deals while
the Mid Office monitors the transactions in the trading book
and deviations of excesses, if any, are brought to the notice of
higher authorities. The Mid office also measures the financial
risk for transactions on a daily basis through measurement
tools such as MTM, VAR, Convexity and modified durations.
The figures are reported to Risk Management division, which
appraises the risk profile to the Assets and Liability
Management committee. The Back office settles all the deals
with counter parties.
Interest Rate Swaps which hedge interest bearing assets or
liabilities are accounted for on accrual basis except the Swaps
designated with an asset or liability that is carried at market
value or lower of cost or market value in the financial
statements. Gains or Losses on the termination of Swaps are
recognised over the shorter of the remaining contractual life of
the Swap or the remaining life of the assets/liabilities. Trading

134

E Vi * xnx E |i{I {] E B E{] lB

il E Vx b +xni BC{V + E +n *
+ +Yx, | B bE=] E B i W E,
b< B B+<BBbB u - { V nxn E
+xh E Vi *

Swap transactions are marked to market with changes

recorded in the financial statements. The counterparties to the
transactions are Banks and corporate entities and deals
undertaken are within the approved exposure limits only. The
guidelines issued by RBI, FEDAI & FIMMDA from time to time
for recognition of Income, Premium and Discount are followed.

(` Ec )

{hiE |E]Eh / Quantitative Disclosures

G..

Sl No

Particulars

(i)

b<] (xx )/ Derivatives (Notional Principal Amount)

B) VM E B / a) For hedging
) ]bM E B / b) For trading
btfUoTz ] E] {Vx (1)/ Marked to Market Positions (1)
B) +i (+) / a) Asset (+)
) ni / b) Liability (-)
@h BC{V (2)/ Credit Exposure (2)
V n BE |ii E {ix E | (100*PV01)

(ii)

(iii)
(iv)

(v)

/(` in crore)

Ex
b<]

V n
b<]

Currency
Derivatives

Interest rate
derivatives

x/NIL
x/NIL
x/NIL

500.00
500.00
x/NIL

x/NIL
x/NIL
x/NIL

x/NIL

Likely impact of one percentage change in interest rate (100*PV01)

B) VM b<] { / a) on hedging derivatives
) ]bM b<] { / b) on trading derivatives

x/NIL
x/NIL
x/NIL

0.15
0.15

Maximum and Minimum of 100*PV01 observed during the year

B) VM { / a) on hedging
) ]bM { / b) on trading

x/NIL
x/NIL
x/NIL

E nx { M

100*PV01 E

+vEi B xxi

+i Mhk / Asset Quality

3.4.1 +x{V +i / Non-Performing Assets

18.31

x/NIL

x/NIL
0.22

0.22

x/NIL

3.4

k /F.Y.

h
Particulars
(i)
(ii)

(iii)

(iv)

(` Ec ) /(` in crore)
k /F.Y.

2013-14

2012-13

4.15

3.19

5136.99
6021.22
3090.17
8068.04

2058.98
5891.89
2813.88
5136.99

4126.76
6021.22
4426.17
5721.81

1091.70
4713.51
1678.45
4126.76

1010.23

967.28

2030.81

1481.22

694.81
2346.23

1438.27
1010.23

x +O x Bx{B

(%) /
Net NPAs to Net Advances (%)
Bx{B E Sx (E) / Movement of NPAs (Gross)
(B) +l /(a) Opening balance
() E nx {vx / (b) Additions during the year
() E nx E /( c) Reductions during the year
(b) <i / (d) Closing balance
x Bx{B E Sx / Movement of Net NPAs
(B) +l / (a) Opening balance
() E nx {vx / (b) Additions during the year
() E nx E / ( c) Reductions during the year
(b) <i / (d) Closing balance

Bx{B E |vx E Sx (xE +i { |vx E UcE)

Movement of provisions for NPAs

(excluding provisions on standard assets)
(B) +l / (a) Opening balance
() E nx EB MB |vx /
(b) Provisions made during the year

() +iH |vx E <] + / <] E /

(c)

Write-off / write-back of excess provisions

/ (d) Closing balance

(b) <i

135

136

Upgradations to
restructured STD Catg
during the FY

Restructured STD
adv which cease to
attract higher
provisioning and/or
additional risk weight
at the end of FY and
hence need not be shown
as restructured STD adv
at the beginning of the
next FY
Downgradations of
restructuring accounts

Restructured Accounts
as on March 31 of the
FY (Closing Figures *)

Amt O/s
Provision
there on

there on
No. of
Borrowers

Amt O/s
Provision

Amt O/s
Provision
there on
No. of
Borrowers

(+)2

(-)1
(-)28.12

0.00

0
0.00

0.00

0
0.00

62.63
6.42

380.14

4454.85

43

7.66

133.28

(-)78.91 (+)16.69 (+)62.22

(-)3

5.58

Provision
there on

No. of
Borrowers

99.23

(+)1

0.00

88.55

(+)1
(+)28.12

0
0.00

7.75

265.92

18
1628.89

3
79.24

28
2345.70

Amt O/s

No. of
Borrowers
Amt O/s
Provision
there on
No. of
Borrowers
Amt O/s
Provision
there on
No. of
Borrowers

No. of
Borrowers
Amt O/s
Provision
there on

STD

0.00

0.00

0.00

0
0.00

0.00

0
0.00

Under CDR Mechanism

SST
DF
LOSS

7.15

3.32

0.00

4
0.19

2.55

(+)99 (+)20

394.22

(+)1

0.00

0
0.00

0.00

0
0.00

1808

789 1075

9.69

1.34

2.03

0.00

0.00

(-)175.78 (+)127.35 (+)45.46 (+)2.97

(-)120

0.02

38.55

(+)6
(-)5 (-)1
(+)19.91 (-)15.87 (-)4.04

0.58

135
39.75

2.31

4650.77 502.71 326.74 88.03

49

5.58

99.23

88.55

18
624
1628.89 243.52

273.67

31 1937 1237 584

2424.94 542.46 125.06 65.65

TOTAL

13.06

917.48

3672

0.02

38.55

3.90

763
283.46

12.01

3748
733.17

Under SME Debt Restructuring Mechanism

STD SST
DF LOSS
TOTAL

* Excluding the figures of Standard Restructured Advances which do not attract higher provisioning or risk weight (if applicable)

Write- Offs of
Restructured accounts
during the FY

during the FY

Fresh Restructuring
during the Year

Restructured
Accounts as on April
1 of the FY (Opening
Fig.)

SL
Type of Restructuring
NO. Asset Classification
Details

3.4.2. Disclosure of Restructured Accounts

0.09

139
10.35

21.18

(+)420

164.40

5962.21

11666

1018

11.37

16.24

721.86 1370.39

1232

0.00

0.00

0.00

0.00 0.00

(+)14

TOTAL

192.01

8054.45

13916

0.00

0.93

221.06

0
0.00

99.35

1790
3163.32

155.97

0
11266
0.00 10657.30

2
0
0.02 0.00

1.37

554
34.44

(-)627.36 (+)393.16 (+)234.20

(-)434

0.93

221.06

(+)3
(-)3
(+)42.58 (-)42.58

99.26

1649
3152.94

133.42

9602
1110
9019.90 1602.96

STD

Others
SST
DF LOSS
SST

DF

(+)520

(-)10
(-)90.61

3.41

274
50.11

31.24

(+)36

0.00

6
0.21

3.92

2024

2096

554.23

19.13

25.93

10919.77 1111.23 1591.70

13517

TOTAL

(+)1

0.00

0
0.00

0.00

17637

0.00

599.29

0.00 13622.70

0.00

6.53

358.83

19

0.00

191.80

2571
5075.67

441.65

0
15045
0.00 13815.41

LOSS

(` in Crore)

(-)882.05 (+)537.20 (+)341.89 (+)2.97

(-)557

6.53

358.83

19

(+)10
(+)90.61

188.39

2291
5025.36

406.49

11557
2350 1138
11908.06 1807.26 100.09

STD

Total

137
49

5.58

99.23

(+)99

(+)20

(+)1

1808

789

(-)175.78 (+)127.35 (+)45.46 (+)2.97

(-)120

0.02

38.55

0.00

3672

0.02

38.55

3.90

13.06

0.00

763
283.46

12.01

0.00

3.32

0
0.00

0.00

3748
733.17

917.48

0.58

4
0.19

2.55

(+)6
(-)5
(-)1
(+)19.91 (-)15.87 (-)4.04
4
8

88.55

135
39.75

2.31

0
0.00

0.00

43

(-)78.91 (+)16.69 (+)62.22

(+)2

7.15

18
624
1628.89 243.52

273.67

31 1937 1237
584
2424.94 542.46 125.06 65.65

E
4454.85 62.63 133.28
0.00
4650.77 502.71 326.74 88.03
= {
|vx
380.14
6.42 7.66
0.00
394.22
9.69 1.34 2.03
* xE {xM`i +O E +Ec E UcE V =SSi |vx +l VJ i E +Ei x Ei (n |V )

|vx
=vEi+
E .

E
= {

E
= {
|vx
=vEi+
E .

=vEi+
E .

(+)1

0.00

0
0.00

0.00

0
0.00

BB< @h {xM`x ij E +iMi

xE +xE nMv x

k E 31 S
E lli {xM`i
Ji (+i +Ec)

99.23

(-)1
(-)28.12

0.00

0
0.00

0.00

0
0.00

1075

k E nx
{xSi Ji
E +{Jx

+xx

{xM`i xE +O
V Eh k
E +i =SSi
|vxEh B/+l
+iH {i
M B <B
+M k E |
< {xM`i xE
+O E { nx
E +Ei x
k E nx
{xM`i Ji E

(+)1
(+)28.12
4

0.00

88.55

(-)3

k E nx
{xM`i xE
h =xxx

0
0.00

18
1628.89

7.75

265.92

= {
|vx

E nx
x {xM`i

3
79.24

28
2345.70

5.58

=vEi+
E .
E
= {
|vx
=vEi+
E .
E
= {
|vx
=vEi+
E .

k E 1 +|
E lli {xM`i
Ji (|E +Ec)

b+ ij E +iMi
xE +xE nMv
x

=vEi+
E .
E
= {
|vx

{xM`x E |E
+i MEh
h

{xM` i +i E

G
.

3.4.2.

0.09

139
10.35

21.18

1110
1602.96

(+)420

(+)14

0.00

2
0.02

1.37

554
34.44

+x
nMv

164.40

5962.21

11666

1018

11.37

16.24

721.86 1370.39

1232

(-)627.36 (+)393.16 (+)234.20

(-)434

0.93

221.06

(+)3
(-)3
(+)42.58 (-)42.58
7

99.26

1649
3152.94

133.42

9602
9019.90

xE +xE

0.00

0.00

0.00

0
0.00

0.00

(+)520

(-)10
(-)90.61

3.41

274
50.11

31.24

(+)36

0.00

6
0.21

3.92

1138
100.09

E
nMv

13517

2024

2096

192.01

554.23

19.13

25.93

(+)1

0.00

0
0.00

0.00

17637

0.00

599.29

0.00 13622.70

0.00

6.53

358.83

0.00
19

191.80

2571
5075.67

441.65

0
15045
0.00 13815.41

(-)882.05 (+)537.20 (+)341.89 (+)2.97

(-)557

6.53

358.83

(+)10
(+)90.61
19

188.39

2291
5025.36

406.49

11557
2350
11908.06 1807.26

xE +xE

8054.45 10919.77 1111.23 1591.70

13916

0.00

0.93

221.06

0
0.00
7

99.35

1790
3163.32

155.97

0
11266
0.00 10657.30

(` Ec )

3.4.3

+i {xM`x i |iiEh / {xM`x E{x E S M< k {k E h

Details of financial assets sold to Securitisation / Reconstruction Company for Asset Reconstruction

(` Ec ) /(` in crore)
k /F.Y.
k /F.Y.

n/
Items
i)
ii)

2013-14

2012-13

128

38

5.45
565

0.00
14.32

0.00

0.00

559.55

14.32

Ji E J / No. of Accounts
B / + E S M Ji E E (|vx P]E)

Aggregate value (net of provisions) of accounts sold to SC / RC

iii) E |i /Aggregate consideration
iv)

Mi +ii E M Ji E M +iH |i

v)

Additional consideration realised in respect of accounts transferred in earlier years

x { E /x /
Aggregate gain/(loss) over net book value

3.4.4

Jn M< / S M< +xVE k {k E h

Details of non-performing financial assets purchased/ sold from/to Banks
A. Non-performing financial assets purchased: NIL (Previous year: NIL)
B. Details of non-performing financial assets sold to Bank:
NIL (Previous Year NIL)

B. Jn M< +x{V k +i: x

. S M< +x{V k +i E h : x
({U : x)
3.4.5
xE +i { |vx /
Provisions on Standard Asset

(` Ec ) /(` in crore)
k /F.Y.
k /F.Y.

h
Particulars

xE +i E B |vx (S) /
3.5

+x{i

Provisions towards Standard Assets (Cumulative)

Particulars

(iv)
(v)
(vi)

768.38

k /F.Y.

k /F.Y.

2013-14

2012-13

9.07

9.39

1.05

0.80

1.94

1.82

0.57 %

0.64%

13.50

13.73

0.0477

0.0525

E xv E |iii E { M-V +
Non-interest income as a percentage to Working Funds

(iii)

840.83

E xv E |iii E { V +
Interest Income as a percentage to Working Funds

(ii)

2012-13

/ Business Ratios

h
(i)

2013-14

E xv E |iii E { {SxMi
Operating Profit as a percentage to Working Funds
+i { |i /
Return on Assets
|i ES (V il +O) (` Ec )
Business (Deposits plus Advances) per employee (`in Crore)
|i ES (` Ec ) /
Profit per employee (`in Crore)

138

3.6 +i

ni |vx / Asset Liability Management

+i B ni+ E Ei{ n E {{Ci {]x 31.03.2014
Maturity pattern of certain items of assets and liabilities as on 31.03.2014

(` Ec )

/(` in crore)

n p

{{Ci {]x
Maturity Pattern

Foreign Currency

(]< E])

+O

=v

+i

niB

(Time buckets)

Deposits

Advances

Investments

Borrowings

Assets

Liabilities

1nx / Day 1
2 7 nx / 2 to 7 days
8 14 nx / 8 to 14 days
15 28 nx /

2103.12

1238.20

236.46

8.63

2488.00

2325.46

9849.47

1728.33

1473.63

588.85

540.57

692.12

3192.11

1124.70

0.27

509.28

750.91

698.08

15 to 28 days

5511.12

2053.30

298.17

568.65

726.12

687.07

31144.25

8079.35

4920.73

3489.53

3494.00

2931.89

22532.71

8471.22

1845.61

1236.89

2386.47

1459.43

40616.79

14308.61

1605.18

1417.90

912.60

2226.70

44074.86

36927.42

6682.84

1361.48

1003.59

1177.67

29 nx 3
29 days to 3 months

3 +vE + 6 iE
Over 3 months to 6 months

6 +vE + 1 iE
Over 6 months & upto 1 year

1 +vE + 3 iE
Over 1 year & upto 3 years

3 +vE + 5 iE
Over 3 years & upto 5 years

15699.90

19420.90

14058.56

1699.58

929.33

616.93

5 +vE/Over 5 years

16118.46

44654.55

33226.49

1250.00

699.79

0.00

190842.80

138006.58

64347.94

12130.77

13931.39

12815.36

E / Total
3.7
3.7.1

BC{V / Exposures
{n Ij E BC{V / Exposure to Real Estate Sector
h / Category

(` Ec )

/(` in crore)

k /F.Y.

k /F.Y.

2013-14

2012-13

5414.62

4296.39

4837.53

3764.58

5669.50

5470.17

(B) |iI BC{V / /A) Direct exposure

(i) vE - / Residential Mortgages

=v =x {k { vE u {hi |ii ,V =vEi E EV

+x E { *
Lending fully secured by mortgages on residential property that is or will be
occupied by the borrower or that is rented

- V |lEi Ij @h +O x i {j HMi + @h
(ii)

-of which individual housing loans eligible for inclusion in priority sector advance
hVE -{n / Commercial Real Estate

- =v hVE -{n (E x, Jn {E lx, q hVE

{, {E x, Eun hVE {, +tME +l
Mn lx, ], +vOh, E B xh +n) { vE u |ii *
BC{V M-xv +vi (BxB) B *

Lending secured by mortgages on commercial real estates (office buildings,

retail space, multi-purpose commercial premises, multi-family residential buildings,
multi-tenanted commercial premises, industrial or warehouse space, hotels,
land acquisition, development and construction, etc.). Exposure includes
non-fund based (NFB) limits;
(iii)

vE u li |ii (BB) B +x |iiEi BC{V x Investments in Mortgage Backed Securities (MBS) and other securitised exposures
B. / a. Residential
. hVE -{n / b. Commercial Real Estate.

139

0.00

3.01

206.27

935.93

h /

(` Ec ) /(` in crore)
k /F.Y.
k /F.Y.

Category

2013-14

2012-13

() +|iI BC{V/B) Indirect Exposure

] + E (BxBS) B + k E{x
(BSB) { xv +vi B M-xv +vi BC{V
Fund based and non-fund based exposures on National Housing Bank (NHB)
and Housing Finance Companies (HFCs).
{n Ij E BC{V / Total Exposure to Real Estate Sector
3.7.2 {V

V BC{V

2102.45

2555.10

13392.84

13260.60

/ Exposure to Capital Market

G . /

h /

Sl.No.
(I) <C]

Particulars

(` Ec ) /(` in crore)
k /F.Y. k /F.Y.
2013-14

2012-13

766.63

713.03

x/NIL

x/NIL

55.51

x/NIL

x/NIL

x/NIL

x/NIL

1026.46

, {ix b/bS il <C] =xJ S+ b E x] EB

MB |iI x VxE xv +xxi: E{] @h xi x E Vi*
Direct investment in equity shares, convertible bonds, convertible debentures
and units of equity-oriented mutual funds the corpus of which is not exclusively
invested in corporate debt;

(II)

<C] (+<{+/<B+{B i), {ix b B bS, <C] =xJ

S+ b E x] x i H E E n +O
Advances against shares /bonds/debentures or other securities or on clean basis
to individuals for investment in equity shares(including IPOs/ESOPs), convertible
bonds, convertible debentures and units of equity-oriented mutual fund;

(III)

+x E |Vx , V |lE |ii E { +l {ix b +l

{ix bS +l <C] =xJ S+ b E x] Vi , i +O
Advances for any other purpose where shares or convertible bonds or convertible
debentures or units of equity-oriented mutual fund are taken as primary security;

(IV)

E {E |ii +l {ix b +l {ix bS +l <C] =xJ

S+ b u Ii iE E +x E |Vx i +li V |lE |ii E UcE
/{ix b/{ix bS/<C] =xJ S+ b +O E {hi: E x Ei *
Advances for any other purposes to the extent secured by collateral security of shares
or convertible bonds or convertible debentures or units of equity-oriented mutual funds
i.e. where the primary security other than shares/convertible bonds/convertible
debentures/units of equity-oriented mutual fund does not fully cover the advances;

(V)

]E E E |ii B +|ii +O il ]E E B E] E E + V M]*

Secured and unsecured advances to stock brokers and guarantees issued on
behalf of stock brokers and market makers;

(VI)

vx V]x E x x< E{x E <C] i |iE E +nx E B E{] E

/b/bS +l +x |ii E {I Ei @h +l Ei xv @h*
Loans sanctioned to corporate against security of shares/ bonds/ debenture or
other securities or on clean basis for meeting promoters contribution to the
equity of new companies in anticipation of raising resources;

(VII)

|ii <C] }/< E r E{x E {E @h

Bridge loans to companies against expected equity flows/issues;

(VIII) E |lE < +l {ix b +l {ix bS

S+ b E x] E v E u M< n |iri

+l <C] =xJ

Underwriting commitments taken up by Banks in respect of primary issue of shares

or convertible bonds or convertible debentures or units of equity oriented mutual funds;
(IX)

Vx ]bM i ]E E E k{h
Financing to stock brokers for margin trading;

(X)

=t {V xv ({VEi B M-{VEi nx) E BC{V

All exposure to Venture Capital Funds (both registered and unregistered)

{V V E E BC{V

/ Total Exposure to Capital Market

140

x /

NIL

x /

NIL

x /

NIL

x /

NIL

x /

NIL

x /

NIL

x /

NIL

x /

NIL

x /

NIL

6.57

822.14

1746.06

3.7.3

VJ h E] BC{V / Risk Category wise Country Exposure

(` Ec )

VJ
h

31.03.2014 E
BC{V (x)

Risk
Category

xMh / Insignificant
E / Low
v / Moderate
+vE / High
i +vE / Very High
|ivi / Restricted
+-Gb] / Off-credit
E / Total
3.7.4

/(` in crore)

31.03.2014

E
vi |vx

31.03.2013 E
BC{V (x)

31.03.2013

Exposure (net)
as on 31.03.2014

Provision held
as on 31.03.2014

Exposure (net)
as on 31.03.2013

Provision held
as on 31.03.2013

2784.13

x /NIL
x /NIL
x /NIL
x /NIL
x /NIL
x /NIL
x /NIL
x /NIL

1983.78

x /NIL
x /NIL
x /NIL
x /NIL
x /NIL
x /NIL
x /NIL
x /NIL

434.00
58.74
2.01
0.53
13.25

x /NIL
3292.66

E
vi |vx

839.25
285.50
58.51
10.46
13.87

x /NIL
3191.37

E u +iGi BE =vEi (BB), =vEi (VB) E h

Details of Single Borrower Limit (SBL), Group Borrower Limit (GBL) exceeded by the bank

=vEi E x

BE BC{V

Ei

Name of Borrower

Single Exposure limit

Sanctioned Limit

2014.16

2014.16

(` Ec )/(` in crore)
31.03.2014 E lli E
Outstanding Balance as on
31.03.2014

=.|. { E{x .
U.P. Power Corporation Ltd.

1805.54

x]& =.|. { E{x . x i V E u nB MB Evx |vE E +iMi * (E{h E >{ {VMi

xv E +iH 5%)
Note: exposure on U.P. Power Corporation Ltd. is within the discretion given to banks by RBI (additional 5% of capital funds,
over prudential limit).

+|ii +O/
h

3.7.5

Unsecured Advance

Particulars

B/a) E +|ii +O / Total Unsecured Advances

/b) < +i |ii u li +O V +vE { |,+xY{i,
|vE +n
Of which advances backed by intangible securities such as charge
over rights, licenses, authority etc.

(` Ec ) /(` in crore)
Mi

F.Y.2013-14

F.Y.2012-13

9552.44

14786.31

x /NIL

x /NIL

v / Miscellaneous
3.8.1 E nx +E i E M |vx E / Amount of Provisions made for Income tax during the year
(` Ec ) /(` in crore)
h
S
Mi
3.8

Particulars

F.Y.2013-14

F.Y.2012-13

+E i |vx / Provision for Income Tax

416.95
400.40
+lMi E i |vx / Provision for Deferred Tax
47.55
(32.92)
3.8.2 E u MB MB nb : `50 J (Mi : x) / Penalties imposed by RBI: `50.00 lac (Previous Year: Nil)
E x BBB + E< vi q E v +iE RBI imposed an aggregate penalty of `50.00 lakh (Rupees
xjh, |h + |Gv E v xvi nxn Fifty lakh only) in terms of Section 47A (1) (c) read with Section
E M-+x{x i EM xx +vx 1949 E v46(4)(i) 46 (4) (i)of the Banking Regulation Act, 1949 for non
E l {`i v 47B(1)()E +x `50.00 J ({B{S compliance of stipulated guidelines in respect of internal
control, systems & procedures in relation to AML &KYC related
J j) E E +lnb M *
issues.
141

4. J

xE E +x |E]Eh +{IB V i V E
x J ]{{h i |E]Eh n E i nxn V EB
:
4.1 J xE 5 +v i x +l x, { +v n
+ J xi {ix: { +v vi + +
xxx :

4. Disclosure Requirements as per Accounting Standards

where R.B.I has issued guidelines in respect of disclosure items
for Notes to Accounts:
4.1. Accounting Standard 5- Net Profit or Loss for the period,
prior period items and changes in accounting policies: Income
and Expenditure relating to prior period are as under:

(` Ec )/(` in crore)
h/Particulars
k /F.Y. 2013-14
k /F.Y. 2012-13
+/Income
(0.15)
(2.09)
/Expenditure
1.21
0.40
x/Net
(1.36)
(2.49)
4.2. V +Yx E v BB 9 E +iMi xEn +v 4.2. Income items recognised on cash basis were either not
material or did not require disclosure under AS 9 on
{ +Yi + n i iiE x l |E]Eh E
Revenue Recognition.
+Ei x l*
4.3 E x 1 +| 2007 ES l {x (x<), {x 4.3. The Bank has adopted Accounting Standard 15
(Revised)- Employee Benefits, issued by Institute of
({x), OS], +E xEnEh, BB +
Chartered Accountants of India, for recognition of its
U]] E v +{x ni+ E +Yx i i
liabilities in respect of employee benefits, viz, Pension,
xn JE lx u V J xE 15 (vi)
Gratuity, Leave Encashment, LFC and Sick Leave w.e.f.
1st April, 2007. Recognition of liability in respect of Sick
E +{x * 31 S 2013 +E
Leave benefit has been discontinued with effect from
vi ni E +Yx E {i E n M *
st
31 March2013.

4.3.1. xvE/M-xvE ES l, {x (B{<+-1995),

OS], +E xEnEh + B.B.. E v E
E ni E
(B)

i xn JE lx u V J xE
15 (vi) xvi ri +
() i EE lx u V nxn VBx
26 E +x +xni EE u Ex Ex
E +v { +Yi E Vi *

4.3.1.Banks liabilities in respect of the funded/ non-funded

employee benefits, viz., Pension(ABEPR-1995), Gratuity,
Leave Encashment and LFC are recognised on the basis
of actuarial valuation carried out by approved Actuary
as per
(a) Principles laid down in AS 15 (Revised) issued by
the Institute of Chartered Accountants of India, and
(b) Guidelines GN 26 issued by Institutes of Actuaries
of India.

ES E J E |E]Eh [ BB-15 E +x (Ii)]

Disclosure on accounting of employee benefits [as per AS-15 (revised)]

EE +xx / Actuarial assumptions

h / Particulars

Vx E |E / TYPE OF PLAN
xvr / Funded
{x
OS]
(B<{+)
Gratuity
Pension

M-xvr / Non-funded
+E
BB
xEnEh
LFC
Leave
Encashment

(ABEPR)

FY 2013-14

FY 2012-13

FY 2013-14

FY 2012-13

FY 2013-14 FY 2012-13

FY 2013-14 FY 2012-13

i n /Discount Rate
ix E gi n

8.75%

8.00%

8.75%

8.00%

8.75%

8.00%

8.75%

8.00%

Salary Escalation Rate

n (|..) / Attrition Rate (p.a.)

5.50%
1%

5.50%
1%

5.50%
1%

5.50%
1%

5.50%
1%

5.50%
1%

1%

1%

8.00%

8.00%

8.00%

8.00%

Vx +i { + E |ii n
Expected Rate of Return on Plan Assets

142

B) vi E ix {ix

(` Ec )

A) Changes in the present value of Obligation

h / Particulars

/ (` in crore)

Vx E |E / TYPE OF PLAN
xvr / Funded
M-xvr / Non-funded
{x
+E
(B<{+) OS]
xEnEh
BB
+E
Pension

Gratuity

C.Y.
P.Y.

3697.49
3174.75

756.94
722.17

Leave
Encashment
263.18
161.61

312.89
246.26
590.92

61.40
54.20
33.88

20.11
10.80
61.34

3.83
1.33
0.00

) S Mi

C.Y.
P.Y.
C.Y.

c)

P.Y.

604.96

32.76

58.87

0.00

d) Benefits Paid

C.Y.
P.Y.

243.27
192.89

110.52
89.23

66.62
53.29

30.71
28.30

<) vi { EE x/(+)

C.Y.

(214.38)

26.67

37.04

40.59

e) Actuarial Loss/ (Gain) on

Obligation

P.Y.

(135.59)

37.04

85.19

55.38

C.Y.
P.Y.

4143.65
3697.49

768.37
756.94

315.05
263.18

72.86
59.15

(ABEPR)

B) E + {+
a) PVO at the beginning of the year

) V Mi
b) Interest cost
Current Service Cost

b) |nk

B) E +i {+
f)

PVO at the close of the year

) Vx {k E =Si {ix
h / Particulars

LFC

Sick Leave

59.15
30.74

46.37

/B) Changes in the Fair Value of Plan Assets

(` Ec )

Vx E |E / TYPE OF PLAN
xvr / Funded
{x
(B<{+)
Pension

OS]
Gratuity

(ABEPR)

B)

E +
Vx +i E =Si

a)

Fair Value of Plan Assets at the

beginning of year

C.Y.
P.Y.

3289.10
2571.85

726.31
665.16

Vx +i |ii |i

C.Y.

263.13

58.10

b)

Expected return of Plan Assets

P.Y.

205.75

53.21

C.Y.
P.Y.

701.92
692.97

111.62
88.88

C.Y.
P.Y.

243.27
192.89

110.52
89.23

C.Y.
P.Y.

82.25
11.42

(34.29)
8.29

C.Y.
P.Y.

4093.13
3289.10

751.22
726.31

C.Y.
P.Y.

328.38
204.21

63.92
61.62

) xH E +nx
c)

Employers Contribution

b) |nk
d)

Benefits Paid

<)

EE (x)/+

e)

Actuarial (Loss)/Gain

B) E +i +i E =Si
f)

Fair Value of Plan Assets

at the close of year

V) Vx +i { iE |i
g)

Actual return on Plan Assets

143

/ (` in crore)

) x EE x / (+ ) / C)

(` Ec )

Net Actuarial Loss / (Gain)

h / Particulars

/ (` in crore)

Vx E |E / TYPE OF PLAN
xvr / Funded
M-xvr / Non-funded
{x
+E
(B<{+)
OS]
xEnEh
BB
+E
Pension

Gratuity

Leave
Encashment

LFC

Sick Leave

(ABEPR)

B)vi { EE x / (+)
a) Actuarial loss / (gain) on obligation (B)

C.Y.
P.Y.

(214.38)
(135.59)

26.67
37.04

37.04
85.19

40.59
55.38

C.Y.
P.Y.

(82.25)
(11.42)

34.29
(8.29)

0.00
0.00

0.00
0.00

C.Y.
P.Y.

(296.63)
(147.01)

60.96
28.76

37.04
85.19

40.59
55.38

C.Y.
P.Y.

(296.63)
(147.01)

60.96
28.76

37.04
85.19

40.59
55.38

C.Y.
P.Y.

0.00
0.00

0.00
0.00

0.00
0.00

0.00
0.00

) Vx +i { EE x/(+)
b) Actuarial loss / (gain) on Plan assets (C)

) x EE (x)/+
c) Net Actuarial loss / (gain)

b) +v +Yi EE (x)/+
d) Actuarial loss / (gain) recognized
in the period

<) +x+Yi EE x
e) Unrecognised actuarial loss

b) ix{j +Yi

/ D) Amount recognized in Balance Sheet

(` Ec )
h / Particulars

/ (` in crore)

Vx E |E / TYPE OF PLAN
xvr / Funded
M-xvr / Non-funded
{x
+E
(B<{+) OS]
xEnEh
BB
+E
Pension

Gratuity

(ABEPR)

Leave
Encashment

LFC

Sick Leave

B) E +i {i
vi E ix
a)

Present value of defined benefit

C.Y.

4143.65

768.37

315.05

72.86

obligation at the end of the Year

P.Y.

3697.49

756.94

263.18

59.15

C.Y.
P.Y.

4093.13
3289.10

751.22
726.31

0.00
0.00

0.00
0.00

C.Y.
P.Y.

50.52
408.39

17.15
30.63

118.49
154.86

44.42
56.70

P]B :/Less:
) E {i { Vx
+i E =Si
b)

Fair value of Plan Assets at

close of the Year

) ix {j +Yi M-xvr
x ni /(+i)
c)

Unfunded Net Liability/ (Asset)

recognized in Balance Sheet

144

<) B x Ji +Yi
E) Expenses recognized in Profit & Loss account

(` Ec )
h / Particulars

Vx E |E / TYPE OF PLAN
xvr / Funded
M-xvr / Non-funded
{x
+E
(B<{+) OS]
xEnEh
BB
+E
Pension

Gratuity

Leave
Encashment

LFC

Sick Leave

(ABEPR)

B) S Mi

/ (` in crore)

C.Y.
P.Y.

590.92
604.96

33.88
32.76

61.33
58.87

0.00
0.00

C.Y.
P.Y.

312.89
246.26

61.40
54.20

20.11
10.80

3.83
1.33

C.Y.
P.Y.

263.13
205.75

58.10
53.21

0.00
0.00

0.00
0.00

d) Net actuarial loss / (gain)

C.Y.

(296.63)

60.96

37.04

40.59

recognized in the year

P.Y.

(147.01)

28.76

85.19

55.38

<) x

C.Y.

344.05

98.13

118.49

44.42

e) Net Benefit Expense

P.Y.

498.46

62.51

154.86

56.70

a) Current service cost

) V Mi
b) Interest Cost

) Vx +i { |ii +
c) Expected return on Plan Assets

b) +Yi x EE
x/ (+)
-

B) ix {j +Yi ni+ E Sx
F) Movements in the Liability recognized in the Balance Sheet

(` Ec )

/ (` in crore)

Vx E |E / TYPE OF PLAN
xvr / Funded
M-xvr / Non-funded
{x
+E
(B<{+) OS]
xEnEh
BB
+E

h / Particulars

Pension

Gratuity

Leave
Encashment

LFC

(ABEPR)

Sick Leave

B) +l x ni

C.Y.

408.39

30.63

0.00

0.00

a) Opening Net Liability

P.Y.

602.89

57.00

0.00

0.00

) x

C.Y.

344.05

98.13

118.49

44.42

b) Net Benefit Expense

P.Y.

498.46

62.51

154.86

56.70

) +n E M +nx

C.Y.

701.92

111.62

0.00

0.00

c) Contribution paid

P.Y.

692.97

88.88

0.00

0.00

b) <i x ni

C.Y.

50.52

17.15

118.49

44.42

d) Closing Net Liability

P.Y.

408.39

30.63

154.86

56.70

P]B / Less:

145

V) ]] u xB J MB x E |ii

(%)/(in %)

G) Investment percentage maintained by the Trust

h
Particulars

{x (B<{+)

OS]

Pension (ABEPR)

Gratuity

Mi

Current Year

Previous Year

Mi

Current Year

Previous Year

Exp E E |ii / Central Govt. Securities

12.10

15.29

23.83

25.01

V E E |ii / State Govt. Securities

43.03

39.80

31.21

30.13

39.56

39.27

39.84

39.39

V VxB / Special Deposit Schemes

0.25

0.32

0.10

0.10

+x x / Other Investments

5.06

5.32

5.02

5.37

=SS i E{] b ({B/{B)

High Quality Corporate Bonds (PSU/PFC)

4.4.

4.5.

M] {]M - JxE (BB) 17 M] {]M

4.4.

Segment Reporting Accounting Standard

(AS) 17 Segment Reporting

M] SxB Ei k h J-17 xE E
{ 4 E +x n M< *

Segment information is given in the Consolidated

Statement in terms of Para 4 of the AS-17.

vi {IE E |E]Eh - J xE (BB) 18

vi {] E S B xnx* vi {IE E x,
E E l =xE v + EB MB xnx-

4.5. Related Party Disclosures Accounting Standard

(AS) 18 List of Related Parties and Transactions:
The names of the related parties, their relationship
with the bank and transactions effected-

{nx

Name

Designation

(` ttF b)
{v
Remuneration

k /F.Y.
2013-14

E `

+vI B |v xnE

Shri Rakesh Sethi

Chairman & Managing Director

(From 12.03.2014)
Executive Director
(From 01.04.2012)

22.25

13.28

Executive Director
(from 23.01.2014)

2.83

NIL

21.35

7.75

8.00

12.07

Ex- Executive Director

(Upto 26.12.2013)

18.86

10.53

B. +. xE

Ex- Executive Director

(Upto 31.03.2012)

E{E xnE

6.50

0.14

Shri M. R. Nayak

Ex- Executive Director

(Upto 31.05.2012)

6.50

5.04

V. E. J

i{ xnE /Ex- Directors

i B. {x
1
Smt S. Panse

E{E xnE

+vI B |v xnE
Chairman & Managing Director
(Upto 31.01.2014)

+vI B |v xnE

Shri J. P. Dua

Ex- Chairman & Managing Director

(Upto31.08.2012)

+h i
b. E
Shri D. Sarkar

E{E xnE

V. {. n+

Shri Arun Tiwari

4

2012-13

NIL

Shri J. K. Singh Kharb

k /F.Y.

0.93

]. +. S
Shri T. R.Chawla

/ (` in Lac)

E{E xnE
E{E xnE

146

OS] il +E xEnEh vi E xvh O

E{x E +v { E { EE |h u E Vi
il inx = ={H Sx x M *
(B) +xM E{x
i) + E <x . ({h i): E E{x E `15.00
Ec (Mi `15.00 Eb) E S {V E
vi Ei *
() H =t
i) x { Vx <xx E{x .
ii) BB+< (<b) .
E x { Vx <xx E{x .E `105
Ec ({U `105 Ec) E 30 |ii B
BB+< (<b) E `26.50 Ec ({U
`26.50 Ec) E 27|ii vi Ei *
() BB]
<n { Oh E:
E Ij Oh E E `21.67 Ec ({U
`21.67 Ec) E 35 |ii E vi Ei *
(b) x { Vx <xx E{x ]b xE r
E{x E l E xnx xxi :-

Expenses towards gratuity and leave encashment are

determined actuarially on an overall basis annually and
accordingly have not been considered in the above
information.
a)

Subsidiary
i)

b)

All Bank Finance Limited (wholly owned): The bank

holds entire share capital of `15.00 Cr. (Previous year
`15.00 Cr) in the company.

Joint Venture
i) Universal Sompo General Insurance Company Limited.
ii) ASREC (India) Ltd
The Bank is holding 30% share in Universal Sompo
General Insurance Company Limited amounting to
`105.00 Cr (previous year `105.00 Cr) and 27.04%
share in ASREC (india) Ltd. amounting to `26.50 Cr
(previous year `26.50 Cr )

c)

Associates

Allahabad U.P. Gramin Bank:

The Bank is holding 35% share in Allahabad U.P. Gramin Bank
amounting to `21.67 Cr (previous year `21.67 Cr).
d)

Transactions with associated company namely Universal

Sompo General Insurance Company Limited are as
follows:

(` Ec )
h / Particulars
+Vi + /Income Earned
|nk | / Insurance Premium Paid

/ (` in Crore)

/ F.Y. 2013-14

k / F.Y. 2012-13

9.61

8.56

8.40

8.59

vi {IE E v +x |E]Eh < |E :

/ Other Disclosures pertaining to related parties are as under:

(` Ec )
n/vi {]
Items/Related Party

/ (` in Crore)

+xM, BB] B
H ={G

bwF |vx EE
B =xE v

Subsidiary, Associates &

joint ventures

Total

Key Management
Personnel & their
relatives
-

1604.71
537.19
176.19
97.72
0.17
-

0.04
0.02
0.002
-

1604.75
537.21
176.19
97.722
0.17
-

900.00

900.00

=v / Borrowings
V / Deposits
V E {] / Placement of Deposits
+O / Advances
x / Investments
M xvE |iriB / Non-funded commitments
|nk V / Interest paid
|{i V / Interest received
|vx n / Management contracts
S M< +i / Assets sold
G-G EB MB +<{ / IBPC sold & purchased
147

{]] |E]Eh
B) E E { E/+ v+ E B z {]]
* < v xxi |E]Eh E Vi :4.6.

4.6. Lease Disclosure

A) The Bank has various operating leases for office /
residential facilities. Disclosures in this regard are as
under:

xxJi |iE +v i xi x E Ex
{SxMi {]] E +iMi xxi {]] Mix E
M :
+{i {]] +v i n E
i)

i)

Total of future minimum lease payments under

non-cancellable operating leases for each of the
following periods:

Rent payable for unexpired lease period:

(` Ec ) / (` in Crore)
n /Amount Payable

Vn {]] +v / Existing Lease Period

lli/ As on 31.03.2014

lli / As on 31.03.2013

69.54

49.48

183.74
40.31

148.29
41.74

BE +xvE / Not later than one year

BE E n il {S +xvE /
Later than one year and not later than five years
{S E n / Later than five years
ii)

iii)

iv)

ix {j E iJ E xi x E Ex ={ {]]
E +iMi |{i EB Vx |ii xxi ={
{]] E Mix E M : x
vi +v i B x E h +Yi
{]] Mix : `111.45 Ec ({U ` 90.49 Ec)

ii) The total of future minimum sublease payments expected to be received under non- cancellable subleases at the balance sheet date: NIL.

vi +v i B x E h +Yi |{i
(+l |{) ={-{]] E Mix :x

iv)

) k {]]

B)

E E { k {]] E +iMi E< {k x *

4.7 |i

G .

+Vx - J xE (BB) 20

iii) Lease payments recognized in the statement of profit

and loss for the period: `111.45 Crore (previous year
`90.49 Crore)
Sub-lease payments received (or receivable)
recognised in the statement of profit and loss for the
period: NIL.
Financial Lease
Bank is not having any assets under Financial
Lease.

/ Earning Per Share Accounting Standard (AS) 20

Sl.
No.

Particulars

B.

|i + b<]b +Vx

Basic and Diluted Earning Per Share (`)

k /F.Y.

k /F.Y.

2013-14

2012-13

22.89

23.70

(`)

|i + b<]b +Vx E Mhx / Calculation of Basic and Diluted Earning Per Share
G . h
Sl.

Particulars

/F.Y.

k /F.Y.

2013-14

2012-13

1172.02

1185.21

51,19,96,459

50,00,26,189

22.89

23.70

10.00

10.00

No.

B.

<C] vE E i |nx E stlu x (` Ec )

Net Profit for the year attributable to Equity Share holders (` in Crores)

<C] E i +i J

Weighted average number of Equity Shares

|i +Vx (B/) (`)

Basic Earning per Share (A/B) (`)

b.

|i xx

(`)
Nominal Value per share (`)

148

+ { E i J - J xE (BB)

4.8.

4.8. Accounting for Taxes on Income: Accounting

Standard (AS) 22

22

E nx +lMi E i E Vx E {
`47.54 Ec ({U ` 32.92 Ec V) E B
x Ji x J M* ix {j E iJ E lli
+lMi E +i / ni+ E J P]E ix{j E
il E +x xxi :

During the year, an amount of `47.54 Crore has been

debited (Previous year `32.92 Crore credited) to the Profit
& Loss Account by way of adjustment of deferred tax.
The major components of Deferred Tax Assets/ Liabilities
as on Balance Sheet date are as under:

(` Ec )
h
Particulars

Vx
Vc/(P]B)

E |

/ (` in crore)

E {i {

At the beginning
of the Year

Adjustment
Add / (Less)

At the close of
the year

k /F.Y.

k /F.Y.

k /F.Y.

2013-14

2012-13

2013-14

2012-13

2013-14

2012-13

43.46

10.50

19.70

32.96

63.16

43.46

x/NIL

9.25
3.29
23.04

x/NIL

x/NIL

5.26
24.96

(9.25)
9.21
32.92

x/NIL

12.50
55.96

17.76
80.92

12.50
55.96

80.55

80.55

(16.21)

64.34

80.55

x/NIL

x/NIL

88.71

x/NIL

88.71

x/NIL

x/NIL

x/NIL

x/NIL

80.55

301.71
454.76

x/NIL

80.55

301.71
374.21

24.59

57.51

349.25

(32.92)

373.84

24.59

+lMi E +i
Deferred Tax Assets

+E xEnEh i |vx
Provision for Leave Encashment

+E i |vx
Provision for Sick Leave
BB i |vx/Provision for LFC
E / Total

+lMi E niB/

Deferred Tax Liabilities

+S +i E
Depreciation of Fixed Assets

x E { vi |ii {
={Si rfkU;w +n V
Interest Accrued but not due on
securities held as Investments

k 2013-14 i v 36 (1) (viii) E

+iMi E]i E Eh +Ii E
+ii
Amount transferred to Special Reserve on
account of deduction under Section
36 (1) (viii) for the F.Y. 2013-14

k 2012-13* iE v 36(1)(viii) E
+iMi E]i E Eh +Ii
E +ii
Amount transferred to Special Reserve on
account of deduction under Section 36 (1)
(viii)- upto F.Y. 2012-13 *
E /Total

80.55

+lMi E niB (x)

Deferred Tax Liabilities (Net)

(*{ 5.3 nJ)

E BS]B h E x { +lMi E +Yi x Ei
CE E E S < v E< +i x * x
{ +lMi E +Yx { i xn JE lx E
Y E i E S E x < q E i E
P E { Mnx i V CE =tM VMi < {
E< Ex E ziB *

(*Refer Para 5.3)

The Bank does not recognise deferred tax on HTM category
of investments as in Banks opinion; there is no timing
difference in this regard. Pursuant to the opinion of the Expert
Advisory Committee of the Institute of Chartered Accountants
of India on recognition of deferred tax on investments, the
bank has referred the issue to the Indian Banks Association
for their guidance on the matter since there is a difference in
treatment on this subject in the industry.

149

4.9. xx

E E : J xE (BB)

4.9. Discontinuing Operations: Accounting Standard (AS)

24

24

Ivx i |E]Eh +{I M x *

Disclosure requirement is not applicable for the year under

review.

k +i E { E E +i E {{i + {
J xE (BB) 28 <{] + B] |V
x * |vx E =H xE E +x 31.03.2014
E E E +x +i E< <{] x +
+Yx i E< i{h i x
5.|vx, +EE niB + +EE +i E v
J xE (BB) 29 E +x |E]Eh

4.10. A substantial portion of the banks assets comprise of

financial assets to which Accounting Standard (AS)
28 Impairment of Assets is not applicable. In the
opinion of the management, there is no impairment of
other assets of the Bank as at 31.03.2014 to any material
extent requiring recognition in terms of the said standard.

4.10.

5.1.1.

5.

Disclosure in terms of Accounting Standard (AS) 29

on Provisions, Contingent Liabilities and
Contingent Assets:

B x Ft;u bku |vx B +EE =ug;tyt nu;w ltbu /Provisions & Contingencies debited to Profit & Loss Account
(` Ec ) / (` in crore)
h
k / F.Y.
k / F.Y.
Particulars

(B)/(a)x { i |vx / Provision for Depreciation on Investment

()/(b)Bx{B i |vx / Provision towards NPA
()/(c)xE +i i |vx/ Provision towards Standard Assets
(b)/(d)+E i |vx/Provision towards Income Tax
(<)/(e)+lMi E +i/niB/Deferred Tax Assets / Liabilities
(B)/(f)+<+B i |vx/Provision for IRS
(V)/(g)+x /Others
E/Total

2013-14

2012-13

137.67

(175.83)

2030.81

1481.22

68.78

256.91

416.95
47.55

400.40
(32.92)

(10.37)

(32.25)

157.02

302.48

2848.41

2200.01

5.1.2. |vx E + +EEi+ E Sx (<i )

Movement of Provision and Contingencies (Closing balance)

h
Particulars

(B)/(a)Bx{B i |vx / Provision toward NPA

()/(b)x { i |vx / Provision for Depreciation on Investment
()/(c)xE +i i |vx/ Provision towards Standard Assets
(b)/(d)+E i |vx/Provision towards Income Tax
(<)/(e)+lMi E +i/niB/Deferred Tax (Assets) / Liabilities
(B)/(f)ylwMkde ttC fUh / Fringe Benefit Tax
(V)/(g)+x /Others
Total
5.2.

/ F.Y.

(` Ec ) / (` in crore)
k / F.Y.

2013-14

2012-13

2123.73

1010.23

387.40

311.08

840.83

768.38

2822.27

2468.19

373.86

24.59

26.04

26.04

297.07
6871.20

566.80
5175.31

+l |vx/Floating Provisions

(` Ec )

h / Particulars
(B)/(a)+l |vx Ji +l /

Opening Balance in Floating Provision Account

/ (` in Crore)

/ F.Y. 2013-14

k / F.Y. 2012-13

x/NIL

x/NIL

x/NIL

x/NIL

x/NIL

x/NIL

x/NIL

x/NIL

()/(b) E nx E M +l |vx E {h
Quantum of Floating Provision made during the year
()/(c) E nx b b=x E E B |Vx
Purpose and amount of draw down during the year
(b)/(d)+l |vx Ji <i
Closing Balance in Floating Provision Account

150

5.3 +Ii xv b b=x (Mi : x)

5.3. Draw Down from Reserves (Previous year: NIL)

B.

i V E E +vSx J b+b . {..77/

21.04.018/2013-14 nxE 20.12.2013 E +x E x
Vi EB MB V (+E +vx, 1961 E v
31(1)(viii) E +iMi) E Eh 31.03.2013 iE E +v
i `301.71 Ec E +lMi E ni (b]B) E
|vx v x V E * E x k 201314 i Vi V E Eh `88.71 Ec E +lMi
E ni E |vx -x J E v E *

a.

In accordance with Reserve Bank of India Notification

No. DBOD No. BP.BC.77/21.04.018/2013-14 dated
20.12.2013, the Bank has provided Deferred Tax Liability
(DTL) of `301.71 Crore on account of Special Reserve
created (under section 36(1)(viii) of the Income Tax Act,
1961) for the period upto 31.03.2013, directly from
Revenue Reserve.
Bank has provided Deferred Tax Liability (DTL) of `88.71
Crore on account of Special Reserve created for the
financial year 2013-14 through Profit and Loss Account.

. i V E x +{x {j J b+b {.17.109/

21.01.132/2013-14 nxE 11.04.2014 E +x 31
S 2013 iE Vi xvE V n @h (B+<]B)
i v ni (V {VEh) Ji V Jx E
+xi n * inx, 31.03.2013 iE E B+<]B
Ji E v `687.72 Ec E v niB (V
{VEh) v V +Ii Vi E M< *

b.

The Reserve Bank of India vide their letter No.

DBOD.No.BP.17109/21.04.132/2013-14
dated
11.04.2014, has permitted to credit Sundry Liabilities
(Interest Capitalisation) account for the Funded Interest
Term Loan (FITL) created upto 31st March13 directly from
Reserve. Accordingly, Sundry Liabilities (Interest
Capitalisation) amounting to `687.72 Crore on account
of FITL upto 31.03.2013 has been created directly from
Revenue Reserve.
An amount of `182.84 Crore has been charged to Profit
& Loss account for the FITL for the current period F.Y.
2013-14.

k E S +v i `182.84Ec E B+<]B
i x J |i E M< *
Ei E |E]Eh/Disclosure of Complaints
B/A. OE E Ei/Customer Complaints

5.4.

(B)/(a)
()/(b)
()/(c)
(b)/(d)

E
E
E
E

+ i Ei E J/No. of Complaints pending at the beginning of the year

nx |{i Ei E J/No. of Complaints Received during the year
nx xi E M< Ei E J/No. of Complaints Redressed during the year
+i i Ei E J/No. of Complaints pending at the end of the year

80
3769
3668
181

/B. EM E{ u {i +vxh /Awards passed by the Banking Ombudsman

(B)/(a) E + Exi x E M +vxh E J/No. of unimplemented awards at the beginning of the year
()/(b) E nx EM E{ u {i E M +vxh E J /
No. of awards passed by Banking Ombudsman during the year

()/(c) E nx Exi E M +vxh E J /No. of awards implemented during the year

E +i Exi x E M +vxh E J /
(b)/(d) No. of unimplemented awards at the end of the year
/C. B]B vi Ei/ATM Related Complaints
(B)/(a)

33592

E nx xi E M< Ei E J/
33578

E +i i Ei E J/
No. of Complaints pending at the end of the year

5.5.

02

354

No. of Complaints Redressed during the year

(b)/(d)

05

E nx |{i Ei E J/
No. of Complaints Received during the year

()/(c)

05

E + i Ei E J/
No. of Complaints pending at the beginning of the year

()/(b)

02

368
5.5.

SEi +x {j (B+)

S k E nx E x Gi @h v ={v Ex i
`2464.59 Ec ({U `1901.94 Ec) E 382
B+ V EB* 31.03.2014 E E B+ E

Letters of Comfort (LoCs)

During the current financial year, the Bank has issued 382
number of LoCs amounting to `2464.59 crore (previous year
`1901.94 Crore) for providing Buyers credit facility. The

151

`1394.45 Ec ({U `1060.65 Ec) l* E E

xvh E +x < v E< k | x {cM*

outstanding LoCs as on 31.03.2014 amount to `1394.45 crore

(previous year `1060.65 Crore). In Banks assessment, no
financial impact is likely to arise in this respect.

|vx EV +x{i
31.03.2014 E lli E E |vx EV +x{i 46.03%
({U 50%)

5.6. Provision Coverage Ratio

5.6.

5.7.

5.7. Income from Bancassurance business during the

year

E nx E

Vx + M-Vx |{i Ex : `20.08 Ec

({U `19.87 Ec)
5.8.

V, +O, BC{V + Bx{B E Exph

5.8.1.

V E Exph / Concentration of Deposits

The provision coverage ratio as on 31.03.2014: 46.03%

(Previous Year 50.00%)

Commission received on life & non-life insurance business:

`20.08 Crore (previous year `19.87Crore)
5.8. Concentration of Deposits, Advances, Exposures &
NPAs

(` Ec )
k

/ Particulars

/ (` in Crore)

/ F.Y. 2013-14

k /F.Y. 2012-13

18580.89

19104.75

9.76

10.69

c VEi+ E E V
Total deposit of twenty largest depositors

E E E V c VEi+ E V E |ii
Percentage of deposits of twenty largest depositors to total deposits of the bank
5.8.2.

+O E Exph

(` Ec )

/Concentration of Advances:

/ Particulars

/ F.Y. 2013-14

c =vi+ E E +O/Total advances to twenty largest borrowers

E E E +O c =vEi+ E +O E |ii
Percentage of advances to twenty largest borrowers to total advances of the bank

18630.97

15.99

14.39

(` Ec )
k

/ Particulars

k /F.Y. 2012-13

22115.04

BC{V E Exph / Concentration of Exposures

5.8.3.

/ (` in Crore)

/ (` in Crore)

/ F.Y. 2013-14

k /F.Y. 2012-13

26517.48

21840.33

19.18

11.63

c =vEi+/OE E E BC{V
Total exposure to twenty largest borrowers/ customers

E E E BC{V c =vEi+/OE E BC{V E |ii

Percentage of exposure to twenty largest borrowers/customers to total exposure
of the bank on borrowers/customers
5.8.4.

Bx{B E Exph /Concentration on NPAs

(` Ec )
k

/ (` in Crore)

/ F.Y. 2013-14

k /F.Y. 2012-13

1239.61

1269.19

/ F.Y. 2013-14

k /F.Y. 2012-13

E B r Miv / Agriculture & Allied activities

=tM (<G, P, v + n) /Industry (Micro, Small, Medium and Large)
/Services
HE @h /Personal Loans

8.80

8.34

8.55

6.57

12.60

10.76

15.09

14.37

/ Particulars

S Bx{B Ji E BC{V (E)

Total Exposure to top four NPA accounts (Gross)
5.9.

Ij Bx{B& < Ij E +O Bx{B E |ii

Sector-wise NPAs: Percentage of NPAs to total advances in that sector

Sl. No. Ij / Sector

1.
2.
3.
4.

152

5.10.

Bx{B E Sx / Movement of NPAs

(` Ec ) / (` in Crore)
k / F.Y. 2013-14k /F.Y. 2012-13

h/Particulars
E + 1+| E E Bx{B (+l)/
Gross NPAs as on 1st April-beginning of the year (Opening Balance)

5136.99

2058.98

E nx r (xB Bx{B)/Additions (Fresh NPAs) during the year

6021.22

5891.89

11158.21

7950.87

1341.76

971.44

966.74

490.45

781.67

1351.99

(iv) Write-offs other than those under (iii) above

x/NIL

x/NIL

={ Vc () /

3090.17

2813.88

8068.04

5136.99

={ Vc (B) / Sub- Total (A)

P]B / Less:(i)

=zx /

(ii)

(+{Ob Ji E M< E UcE)

Upgradations

Recoveries (excluding recoveries made from upgraded accounts)

(iii) Technical/Prudential Write-offs

Sub- Total (B)

31 S E lli E Bx{B (<i) (B-)

Gross NPAs as on 31st March (Closing Balance) (A-B)

(` Ec )

iExE <] + + = E M< E |E]Eh

/ (` in Crore)

Disclosure on Technical write offs and the recoveries made thereon

h/Particulars

/ F.Y. 2013-14

k /F.Y. 2012-13

3117.00

2138.97

781.67

1351.99

3898.67

3490.96

1365.00

373.96

2533.67

3117.00

1 +| ( E + ) E lli iExE/
E{h <] + Ji +l
Opening Balance of Technical/ Prudential written-off accounts as at April 1
(Beginning of the year)

r: E nx iExE/E{h <] +
Add: Technical/ Prudential write-off during the year

={ Vc (B) /

Sub- Total(A)

P]B: E nx {U iExE/E{h <] +

Ji E M< ()
Less: Recoveries made from previously technical/
prudential written- off accounts during the year (B)

31 S E lli <i (B-)

Closing Balance as at March 31 ( A-B)
5.11.

n +i Bx{B + V / Overseas Assets, NPAs and Revenue

h/ Particulars
E +i / Total Assets
E Bx{B /Total NPAs
E V /Total Revenue

/ Amount (` in crore)

k / F.Y. 2013-14

k /F.Y. 2012-13

9388.23

7618.32

210.75

175.19

208.68

199.33

ix {j |Vi B{ (Vx J xE E
+x Ei E Vx +{Ii )- x ({U : x)
5.12.

(` Ec )

5.12. Off-Balance Sheet SPVs sponsored (which are

required to be consolidated as per accounting norms)NIL (Previous year :NIL)

153

+{vi {x + OS] ni
B. k 2010-2011 E nx <n E (ES) {x
x 1995 E ii ES i {x v E{ E {x:
Ex B OS] E Mix +vx, 1972 E ii
OS] + gk Ex { E x {x i `708.07
Ec + OS] i `39.63 Ec E E +iH
E c ni +n E , V i V E E nxE
09 , 2011 E {{j b+b J {.. 80/
21.04.018/2010-11 E +x {vi E M * =H
{{j E |vx E +x, {vi JS E {S M (1/
5th) E +h |iE E Vx SB + inx,
k 2014-15 i +{vi JS E { `598.34
Ec (+li {x i `566.41 Ec + OS] i `31.93
Ec), +Oxi Ei B k 2010-11, 2011-12,
2012-13 + 2013-14 + x J `149.36
Ec (+li {x i `141.66 Eb + OS] i `7.70)
E {vi E M* i V E E =H xn E
+xh Ei B E x S k E nx + x
J `149.60 Ec (+li `141.60 Ec + `8.00
Ec G:) E E |i E *

5.13. Unamortised Pension and Gratuity Liabilities

A.

On re-opening of Pension option to employees under

Allahabad Bank (Employees) Pension Regulations 1995
and enhancement in Gratuity limits under the Payment of
Gratuity Act 1972 during the financial year 2010-2011,
the Bank had incurred huge liability towards additional
load amounting to `708.07 Crore for Pension and `39.63
Crore for Gratuity, which were amortised in terms of Reserve
Bank of India circular DBOD No.BP.BC.80/21.04.018/201011 dated 9th February, 2011. As per the provisions of the said
circular, 1/5th of the amortised expenses is to be absorbed
each year and accordingly, `598.34 Crore (i.e.`566.41 Crore
for Pension and `31.93 Crore for Gratuity) has been charged
to the Profit and Loss Account in F.Y. 2010-11, 2011-12, 201213 & 2013-14, carrying forward an amount of `149.36 Crore
(i.e. `141.66 Crore for Pension and `7.70 Crore for Gratuity)
as unamortized expenses for F.Y. 2014-15. Following the
said directive of the Reserve Bank of India, during the current
financial year the Bank has charged a sum of `149.60 Crore
(i.e. `141.60 Crore for Pension and `8.00 Crore for Gratuity)
to the Profit and Loss Account.

. 01.04.2010 E +l E n E Vcx ES
i {i +nx xk i Vx E Exx
, E x {B+bB E xE + | xjh E
+iMi Bx{B E E{] b i ] {x |h
+{x + E xxq] ES i xH-ES
v E {v E +iMi i E{] Bx{B
+ V E +| 2012 {Si E M *

B.

In implementation of the Defined Contribution Retirement

Benefit Scheme for the employees joining service of the Bank
on or after 01.04.2010, the Bank has adopted National
Pension System for Corporate Model of NPS under the
regulatory and administrative control of PFRDA and has
joined NPS as Corporate under the purview of employeremployee relationship for these underlying employees, which
has been operationalised in our Bank since April,2012.

. ix vx i |vx : ES E ix vx (10
u{I Zi) V x 2012 n E Eh E {
{cx i i E x S k E nx
`282 Ec E |vx E * ({U .100 Ec)*
< |E 31 S 2014 E lli ix vx i E
.382 Ec E |vx E M * i E P E
Mn x]/+vi Vx+ E xvx i E E xi
E l l < i W E E nxn E
+x{x E x < k E nx 10 u{I
Zi E Eh {cx i E |vx E v E
I E * < v i E P E Mn x] E
Ji +x{x E =q +vi Vx+(l {x,OS]
+ +E xEnEh) E v xvx E E +xx
E E +xni EE u EB MB EE x E
+v { M M + inx `382 Ec E E
|vx E {x: +]i E M (1) ix E `178
Ec (2) {x . 145 Ec (3) OS] `41.00 Ec (4)
+E xEnEh `18.00 Ec*

C.

Provision on account of Wage revision: To meet the probable

load on the Bank on account of wage revision of employees
(10th bipartite settlement) which is due from November 2012,
the Bank has made a provision of `282.00 Crore during the
current financial year (previous year `100.00 Crore).As
suchtotal Provision on account of wage revision as on 31st
March 2014 stands at `382.00 Crore. Keeping in line with
the IBAs Guidance Note/ Banks Policy on Funding
Superannuation Schemes as also in compliance of RBI
directive in the matter, the Bank reviewed the model of
provisioning in respect of the probable load on account of
10th Bipartite Settlement, during this fiscal. With the object to
achieve strict compliance of the IBAs Guidance Note in this
regard, the probable funding load on Superannuation
Schemes (viz. Pension, Gratuity and Leave Encashment)
have been estimated on the basis of actuarial valuation
conducted by Banks approved Actuary and accordingly,
aggregate provision of `382.00 Crore has been relocated
as (1) Arrear Salary `178.00 Crore; (2) Pension `145.00
Crore;(3) Gratuity `41.00 Crore and (4) Leave Encashment
`18.00 Crore.

5.14 |iiEh vi |E]x

E u E B{ E |Vi x EB Vx E Eh ix {j
E il E lli B{ E |ii +i E E
x ({U : x)
6. +EE niB
ix {j E +xS 12 E G J (I) (VI) l
=Ji B niB G: x/+]x/x E

5.14. Disclosures relating to Securitisation

5.13.

154

As no SPVs sponsored by the Bank, the outstanding amount of

securitized assets of SPVs as on date of balance sheet is Nil
(Previous year: Nil)
6.

Contingent Liabilities
Such liabilities as mentioned at Sl. No.(I) to (VI) in schedule
12 of Balance Sheet are dependent upon the outcome of

 x{]x E {h, +{ E x{]x, M E M< ,

nMi vi+ E i, P]xG + vi {IE
u E M< M { x *
7.

{VMi Ji { x{nx i n E +xxi

VE |vx x E M (+O E x) `61.05
Ec ({U `87.00 Ec)*

8.

court / arbitration / out of court settlement, disposal of

appeals, the amount being called up, terms of contractual
obligations, devolvement and raising of demand by
concerned parties respectively.
7.

Estimated amount of contracts remaining to be executed on

capital account and not provided for (Net of advance) `61.05
Crore (Previous Year `87.00 Crore).

+x|V +i E +iMi vi |vx E Ij E+{

E E +O +xxi +v { P] n M iE
ix {j E +xS 9 lH x +O E xE
E*

8.

Sector wise break-up of provision held under non-performing

advances is deducted on estimated basis from gross
advances to arrive at the balance of net advances as stated
in the Schedule-9 of the Balance Sheet.

9.

|lEi Ij +O E u <n { Oh E
VJ ] E +v { G EB MB |iI E +O E
+i E Mi |h{j i `900.00 Ec ({U
`700 Ec) * < |E E u <n {
Oh E E S MB M |lEi Ij E +i E Mi
|h{j i `900.00 Ec ({U 700 Ec) E
+O P] M *

9.

Priority Sector Advances include `900.00 Crore (previous

year `700.00) on account of Inter Bank Participation
Certificates (IBPC) of Direct Agriculture Advances purchased
by the Bank on risk sharing basis from Allahabad U.P. Gramin
Bank. Likewise, `900.00 Crore (previous year `700.00 Crore)
has been reduced from advances being amount of Inter Bank
participation Certificates of non-priority sector advances sold
by the Bank to Allahabad U.P. Gramin Bank.

10.

E nx, E x + E +vx, `1961 E v 36

(1) (viii) E +x] |Ii `261.00 Ec ({U
`251.00 Ec)E E +xii E *

10. During the year, the Bank has transferred a sum of `261.00
Crore (Previous Year `251.00 Crore) to Special Reserve in
terms of section 36 (1) (viii) of the income Tax Act, 1961.

11.

i V E E {{j b+b . {..2/21.06.201/

2013-14 nxE 1V< 2013 E +x E E 30i
2013 -*** {V +{I+ E +iMi +vE +v
{ { 3 |E]x Ex +{Ii * |E]x E E E xxJi
<] E { ={v E M (https://

11. In accordance with RBI circular DBOD.No.BP.BC.2/

21.06.201/2013-14 dated 1st July, 2013, banks are required
to make half yearly Pillar 3 disclosures under Basel III capital
requirements with effect from 30th September, 2013. The
disclosures have been made available on Banks website at
the following link (https://www.allahabadbank.in/english/
home.aspx).

www.allahabadbank.in/english/home.aspx)

12. E E xnE b x nxE 11 Vx 2014 E < +{x

`E `.2.50 |i <C] |nk {V E 25% E n
+i E Ph E V i E +E
+xi/+xnx |{i x E +vvx * i E x
nxE 15 Vx 2014 E +{x +vSx J B.10/
3/2010-+B E ii +vSi E E EM xx
+vx 1949 E v 15(1) E |vx k 201314 i VxE Ij E E { M x M*
Mix E il 30 Vx 2014 l*

12. The Board of Directors of the Bank in its meeting dated 11th
January, 2014 declared an interim dividend of `2.50 per
equity share i.e. @ 25% of the paid up capital of the Bank
subject to necessary permission/approval from the
Government of India. The Government of India vide its
Notification No. F. No. 10/3/2010-BOA dated 15th January,
2014 notified that the provisions of Section 15(1) of the
Banking Regulation Act, 1949 shall not apply to Public Sector
Banks for the Financial Year 2013-14. The Dividend payment
date was 30th January, 2014.

<E +iH E E xnE b x k 2013-14 i

E +i E ii x E *

Further, the Board of Directors of the Bank have not

recommended any final dividend for the financial year
2013-14.

13. E x `10 ({B n j) E +Ei 4,45,83,147

(S Ec {i J i V BE i) <C]
|i `79.72 ({B =x B { k j) E
| { i E (i E ]{i) E +vx +v
{ `399,99,99,948.84 ({B ix xxx Ec xxx
J xxx V x +ci B { S j) E
E |i { 24.12.2013 E +]i EB * inx,
<{B E Mhx i xn JE lx u V
BB-20 l xn] <C] E i +i J
{ E M< *

13. The Bank has allotted 4,45,83,147( Four Crore Forty Five
Lac Eighty Three Thousand One Hundred and Forty Seven)
equity shares of face value of `10.00 (Rupees Ten only) at a
premium of `79.72 (Rupees Seventy Nine and Paisa
Seventy Two only) per equity share to Govt. Of India
(President of India) on preferential basis on 24.12.2013 for
a total consideration of `399,99,99,948.84 (Rupees Three
Hundred Ninety Nine Crore Ninety Nine Lac Ninety Nine
Thousand Nine Hundred Forty Eight and Paisa Eighty Four
only). Accordingly the EPS has been calculated on weighted
average number of equity shares as specified in AS-20
issued by the Institute of Chartered Accountants of India.

155

14. `0.74 Ec, E 103 V |] VxE BE B

b 2500.00 E + V 1 +| 1996 31 S
2002 E S { E M< l + J Cb BE=]x] BE=] EBx Jc l, E 11 < 2009
E {{j b+b.{...133/21.04.018/200809 E +x -x J V E M* -x
J V E M< E +Ii xVi E M
+ E Ph E B ={v x M* n <
E x J V x E M i i E
<ix E Vi*

14. An amount of `0.74 Crore comprising of 103 credit entries

of individual value of less than USD2500.00 which originated
between the period from 1st April 1996 to 31st March 2002,
and were held in Blocked Account-Nostro Accounts
Reconciliation at the branch were credited to Profit & Loss
account in terms of RBI circular DBOD.BP.BC.No.133/
21.04.018/2008-09 dated 11 th May,2009.The amount
credited to Profit & Loss account was appropriated to the
Reserve and shall not be available for declaration of dividend.
Had this amount not been credited to Profit & Loss Account,
the amount of profit for the year would have been lower by
such amount.

15. xxi E{E E(BB]) V E +i E { `192.43

Ec E iE +E +vx 1961 E v 115VBB
E +iMi ] Gb] Bx]<]] E { +Yi E M
*

15. Minimum Alternate Tax (MAT) Credit has been recognised

as an asset to the extent of `192.43 Crore as MAT Credit
Entitlement under section 115JAA of the Income Tax Act,
1961.

V +E Z M {U E +Ec E {x:i
+l {x:MEi E M *

16. Figures of previous year have been regrouped or reclassified

wherever considered necessary.

16.

156

INDEPENDENT AUDITORS REPORT

ij J{IE E {]

i E ]{i
k h v {]
1. x 31 S 2014 E lli <n E E k
h E J{I E V 31 S 2014 E lli
ix{j, = E {i +v i -x J il xEn
| h B i{h J xi E il +x JiE
Sx ] * <x k h u J{Ii
1 C ]V J i 20 JB, J J{IE
u J{Ii 1231 JB + lx J{IE u
J{Ii 1 n J * u J{Ii
B +x J{Ii J+ E Sx E u i V E
u V nxn E +x E M * < 1590
J+ E ix{j B x h V J{I
E +vx x l* <x +J{Ii J+ +O E
9.07|ii, V E 29.35 |ii, V + E 5.69
|ii il V E 24.73 |ii *

To
The President of India
Report on the financial statements

k h i |vx E ni

Managements Responsibility for the Financial Statements

2. EM xx +vx, 1949 E +x <x k h

E i Ex E ni |vx E * < ni Ei
k h E i Ex i |ME +iE xjh E
i Ex, Exx Ex + =E JJ Ex
V i{h l h, vJvc +l SE E Eh,
H *

2.

J{IE E ni

Auditors Responsibility

3. ni J{I { +vi <x k h {

3.

Our responsibility is to express an opinion on these

financial statements based on our audit. We conducted
our audit in accordance with the Standards on Auditing
issued by the Institute of Chartered Accountants of India.
Those Standards require that we comply with ethical
requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial
statements are free from material misstatement.

4.

An audit involves performing procedures to obtain audit

evidence about the amounts and disclosures in the
financial statements. The procedures selected depend
on the auditors judgment, including the assessment of
the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those
risk assessments, the auditor considers internal control
relevant to the Banks preparation and fair presentation
of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the
effectiveness of entitys internal control. An audit also
includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting
estimates made by management, as well as evaluating
the overall presentation of the financial statements.

+{x nx * x +{x J{I i xn JE

lx u V xE J{I E +x E * =x xE
+{Ii E xi{E +{I+ E +x{x E +
Vx x E J{I E x{ni E V Si +x
|{i E C Ei k h i{h l h
H *
4. E J{I E J{I I |{i Ex E
|G x{ni E Vi + B k h |E]Eh
E Vi * Sx Vx |G J{IE E xh {
vi i V k h i{h l h E
VJ E xvh, E{] +l SE E Eh, i *
<x VJ E xvh Ex J{IE E E i +
J{I h E =Si |iiEh vi |ME +iE
xjh E vx Ji + {li E +x{ =Si
J{I |G xvi Ei x E l E +iE xjh
E EMi E +{x H Ei * J{I
|M < M< J xi E ={Hi B |vx u EB
MB J |CEx E Sii E l l Ei k
h E Oi: |iiEh E Ex i *

1.

157

We have audited the accompanying financial statements

of ALLAHABAD BANK as at 31st March, 2014, which
comprise the Balance Sheet as at March 31, 2014, and
Profit and Loss Account and the Cash Flow Statement
for the year then ended, and a summary of significant
accounting policies and other explanatory information.
Incorporated in these financial statements are the returns
of 20 branches including 1 Forex cum Treasury Branch,
audited by us and 1231 branches audited by branch
auditors and one overseas branch Audited by local
auditor. The branches audited by us and those audited
by other auditors have been selected by the Bank in
accordance with the guidelines issued to the Bank by the
Reserve Bank of India. Also incorporated in the Balance
Sheet and the Statement of Profit and Loss are the returns
from 1590 branches which have not been subjected to
audit. These unaudited branches account for 9.07 per
cent of advances, 29.35 per cent of deposits, 5.69 per
cent of interest income and 24.73 per cent of interest
expenses.

Management is responsible for the preparation of these

financial statements in accordance with Banking
Regulation Act 1949. This responsibility includes the
design, implementation and maintenance of internal
control relevant to the preparation of the financial
statements that are free from material misstatement,
whether due to fraud or error.

5. E u |{i J{I I
J{I |nx Ex i {{i B Si *

5.

+i

Opinion

6. , V E E E |ni i , +
k VxE il nB MB {]Eh E +x:

6.

In our opinion, as shown by books of bank, and to the

best of our information and according to the explanations
given to us:

We believe that the audit evidence we have obtained is

sufficient and appropriate to provide a basis for our audit
opinion.

i.

ix{j, = nB MB x] E l {`i, BE {h B =Si

ix{j V +E h nB MB < =Si {
i E M , V E E E E 31 S 2014 E
lli + =Si li |E] + xi:
i Ei J ri E +x{ ;

i.

the Balance Sheet, read with the notes thereon is a full

and fair Balance Sheet containing all the necessary
particulars, is properly drawn up so as to exhibit a true
and fair view of state of affairs of the Bank as at 31st
March 2014 in conformity with accounting principles
generally accepted in India;

ii.

x Ji, = nB MB x] E l {`i, xi:

i Ei J ri E +x{ J{I i
E E ni ; +

ii.

the Profit and Loss Account, read with the notes thereon
shows a true balance of profit in conformity with
accounting principles generally accepted in India, for
the year covered by the audit; and

iii.

xEn | h = il E {i i xEn | E
+ =Si li ni *

iii.

The Cash Flow Statement gives a true and fair view of

the cash flows for the year ended on that date.

i{h i
7. n EB x xxJi E + vx
+Ei Ei :
B. +xS 18 E x] . 5.13(B) V VxE Ij E E E
ES i {x E{ {x: Jx { i W E u
+{x nxE 09.02.2011 E {{j . b+b.{. /
80/21.04.018/2010-11 E v |nx E M< U] E
+x BB 15 (ES ) E |vx E VxE E
{ M Ex v `149.36 Ec iE E r E
Eh {x ni B OS] ni +lMi EB Vx E i
*

Emphasis of Matter
7.

Without qualifying our opinion, we draw attention to:

a)

Note no 5.13 (a) of Schedule 18 which describes

deferment of pension liability and gratuity liability due to
increase in ceiling to the extent of `149.36 crores
pursuant to the exemption granted by the Reserve Bank
of India to the Public Sector Banks from application
of provisions of AS-15(Employees benefit) vide its
circular no DBOD.BP.BC/80/21.04.018/2010-11 dated
February 9, 2011on reopening of pension option to
employees of Public Sector Banks.

. k h E +xS 18 E x] . 5.3(B) V i
V E E {{j J b+b . {..77/21.04.018/
2013-14 nxE 20 n 2013 E +xh 31S 2013
E lli +E +vx 1961 E v 36(1)(viii) E
+iMi +Ii +lMi E ni+ E Vx v
E J x{h E h ni *
. k h E +xS 18 E x] . 5.3() V i
V E E nxE 11 +| 2014 E {j E ii i V
E u +xi EB MB {U +v E B+<]B E Eh
v ni (V {VEh) E v J x{h v
h ={v Ei *

b)

Note no 5.3(a) of schedule 18 to the financial statements,

which describes the accounting treatment of the
expenditure on creation of Deferred Tax Liability on
Special Reserve under Section 36(1) (viii) of the Income
Tax Act, 1961 as at March 31, 2013, pursuant to RBIs
Circular No. DBOD. No. BP. BC.77 / 21.04.018 / 2013-14
dated December 20, 2013.

c)

Note 5.3(b) of schedule 18 to the financial statements,

which provide details with regard to the accounting
treatment on creation of Sundry Liability (Interest
Capitalisation) on account of past period FITL as
permitted by Reserve Bank of India vide their letter dated
April 11, 2014.

+x vE B xE +{I+ v {]

Report on Other Legal and Regulatory Requirements

8. ix {j B x Ji EM xx +vx, 1949 E
i +xS E G: B B i EB MB *

8.

The Balance Sheet and the Profit and Loss Account have
been drawn up in Forms A and B respectively of the
Third Schedule to the Banking Regulation Act, 1949.

9. ={H {O 1 5 =Ji J{I E + E

+v { B EE E{x (={G E +Vx B +ih)
+vx, 1970/1980 u l +{Ii il = |E] +
E +vx, {] Ei E:

9.

Subject to the limitations of the audit indicated in

paragraph 1 to 5 above and as required by the Banking
Companies (Acquisition and Transfer of Undertakings)
Act, 1970/1980, and subject also to the limitations of
disclosure required therein, we report that:

158

(B) x SxB B {]Eh |{i EB V

k VxE B E +x J{I E |Vxl
+E l il x =x iVxE { *

a)

We have obtained all the information and explanations

which to the best of our knowledge and belief, were
necessary for the purposes of our audit and have found
them to be satisfactory.

() VxE +B E E xnx E E +vE E +iMi

*
() E E J+ B E |{i h J{I
E B {{i {< M< *

b)

The transactions of the Bank, which have come to our

notice have been within the powers of the Bank.

c)

The returns received from the offices and branches of

the Bank have been found adequate for the purposes of
our audit.

10. J{I i ix{j, -x J + xEn

| h |V J xE E +x{ *

10.

In our opinion, the Balance Sheet, Profit and Loss

Account and Cash Flow Statement comply with the
applicable accounting standards.

Ei . Bx.E. M Bb E.

Ei . P xl Bb E.

Ei . Jb EEx Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

For M/s Khandelwal Kakani & Co.

xn JE

xn JE

xn JE

Chartered Accountants

Chartered Accountants

Chartered Accountants

(Bx.E. M)
(N.K. Bhargava)
{]x / Partner

(i |E)

(i nJ)

(Sharat Prakash)
{]x / Partner

(Santosh Deshmukh)
{]x / Partner

ni ./Membership No.080624
ni ./Membership No.096267
ni ./Membership No.071011
{VEh ./Firm Regn. No 000429N {VEh ./Firm Regn. No. 000451N {VEh ./Firm Regn. No. 01311C
Ei . ] Bb {i

Ei . l Bb BB]

For M/s Batliboi & Purohit

For M/s Sarath & Associates

xn JE

xn JE

Chartered Accountants

Chartered Accountants

(x ME)

(+ I )

(Raman Hangekar)
{]x / Partner

(R. Lakshmi Rao)

{]x / Partner

ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

lx/Place: EEi/Kolkata
nxE/Date: 07.05.2014
159

< n E
ALLAHABAD BANK

31 S, 2014E lli Ei ix-{j

Consolidated Balance Sheet as on 31st March, 2014

(` Ec ) (`` In Crore)

+xS

PARTICULARS

lli

AS ON

lli AS ON

31.03.2014

31.03.2013

1
2
3
4
5

544.61
11496.68
190834.90
12138.98
5936.77
220951.94

500.03
11078.20
178733.94
10104.35
4401.99
204818.51

8834.52

7808.29

7
8
9
10
11

5481.08
64376.24
138007.56
1316.33
2936.21

5278.77
58676.03
129489.78
1257.84
2307.80

12

220951.94
73358.67
11805.17

204818.51
53178.65
13593.02

SCHEDULE

{V + niB / CAPITAL & LIABILITIES

{V/Capital
|Ii B +v/Reserves & Surplus
V/Deposits
=v/Borrowings
+x niB + |vx/Other Liabilities and Provisions
E /Total
+i / ASSETS
i W E xEn +
Cash and Balances with Reserve Bank of India

E + M il +{ Sx { n vx
Balances with Banks and Money at Call and Short Notice
xvx/Investments
@h B +O /Loans & Advances
l +i /Fixed Assets
+x +i / Other Assets
Ex { J / Goodwill on Consolidation

B x Ji E x
Debit Balance of Profit and Loss A/C
E /Total
+EE niB / Contingent Liabilities
h E B /Bills for Collection

Wvh mk=rCo; ylwmqragt tuFu fUt +z ykd /

The schedules reffered to above form
an integral part of the Accounts
E `
xnE / Directors:
b. E Cx / Dr. Shashank Saksena
B. =nMi / Shri A. Udgata
<. {. / Shri Y. P. Singh
x E / Shri Nirmal Kumar Bari
V E / Shri Sanjeev Kr. Sharma
n xh / Shri D. N. Singh
+V C / Shri Ajay Shukla
b. n{ Sv / Dr. Sudip Chaudhuri
B. {. . Bx. / Shri A. P. V. N. Sarma
+E V /Shri Ashok Vij

V. E. J

B. E. M

{. B. |vx

+vI B |v xnE

E{E xnE

|vE (k B J)

={ |vE (k B J)

E |vE (k B J)

(Rakesh Sethi)
Chairman & Managing Director

(J. K. Singh Kharb)

Executive Director

(A. K. Goel)
General Manager (F&A)

(P. L. Pradhan)
Dy. General Manager(F&A)

(Bhavesh Mishra)
Asstt General Manager(F&A)

il E {] E +x / As per our report of even date

Ei . Bx. E. M Bb E.

Ei . P xl Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

Chartered Accountants

Chartered Accountants

xn JE
(Bx.E. M)

(N.K. Bhargava)
{]x / Partner
ni ./Membership No.080624
{VEh ./Firm Regn. No 000429N

Ei . Jb EEx Bb E.

Ei . ] Bb {i

xn JE
(i |E)

(Sharath Prakash)
{]x / Partner
ni ./Membership No.096267
{VEh ./Firm Regn. No. 000451N

Ei . l Bb BB]

For M/s Khandelwal Kakani & Co.

For M/s Batliboi & Purohit

For M/s Sarath & Associates

Chartered Accountants

Chartered Accountants

Chartered Accountants

xn JE
(i nJ)

(Santosh Deshmukh)
{]x / Partner
ni ./Membership No.071011
{VEh ./Firm Regn. No. 01311C

xn JE
(x ME)

(Raman Hangekar)
{]x / Partner
ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

lx / Place: EEi / Kolkata

nxE / Date: 07.05.2014

160

xn JE

(+. I )

(R. Lakshmi Rao)

{]x / Partner
ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

< n E
ALLAHABAD BANK

31 S, 2014 E {i i Ei x J
Consolidated Profit & Loss Account for the year ended 31st March, 2014

+xS

PARTICULARS

lli

AS ON

(` Ec ) (`` In Crore)
lli AS ON

SCHEDULE

31.03.2014

31.03.2013

13
14

18775.60
2274.20
21049.80

17461.20
1565.11
19026.31

15
16

13434.56
3583.91
2850.58
19869.05

12568.53
3067.70
2200.84
17837.07

7.68

22.62

1188.43

1211.86

x/NIL

x/NIL

1188.43

1211.86

373.33
1561.76

309.47
1521.33

294.00
585.02

302.66
492.79

160.84

352.55

521.90
1561.76
23.21

373.33
1521.33
24.24

+ / Income
+Vi V /Interest earned
+x + /Other income
E /Total
I.

II. / EXPENDITURE
E M V / Interest expended
{Sx / Operating expenses
|vx + +EE /Provisions & Contingencies
E / Total

BB] +/x E +

Share of earnings/loss in Associates

+{JE V P]x { E Ei x /(x)

Consolidated Net profit/(loss) for the year before deducting
Minorities Interest

P]B : +{JE V r
i Ei /(x) /
Less: Minorities Interest
Consolidated profit/(loss) for the year attributable to the group

Vc: r Ei /(x) +Oxi

Add: Brought forward consolidated profit/(loss)

attributable to the group
E / Total
III. xVx / APPROPRIATIONS
mtkrJr"f |Ii E +ih /Transfer to Statutory Reserves
+x |Ii E +ih /Transfer to Other Reserves
yk;rhb / |ii ( vh fUh mrn;)
Interim / Proposed Dividend (Including Tax on Dividend)

Ei ix {j +Oxi

Balance carried over to consolidated Balance Sheet

E / Total
|i +Vx / Earnings per Share

Wvh mk=rCo; ylwmqragt tuFu fUt +z ykd /

The schedules reffered to above form an integral part of the Accounts

E `
V. E. J
B. E. M
xnE / Directors:
b. E Cx / Dr. Shashank Saksena
B. =nMi / Shri A. Udgata
<. {. / Shri Y. P. Singh
x E / Shri Nirmal Kumar Bari
V E / Shri Sanjeev Kr. Sharma
n xh / Shri D. N. Singh
+V C / Shri Ajay Shukla
b. n{ Sv / Dr. Sudip Chaudhuri
B. {. . Bx. / Shri A. P. V. N. Sarma
+E V /Shri Ashok Vij

{. B. |vx

+vI B |v xnE

E{E xnE

|vE (k B J)

={ |vE (k B J)

E |vE (k B J)

(Rakesh Sethi)
Chairman & Managing Director

(J. K. Singh Kharb)

Executive Director

(A. K. Goel)
General Manager (F&A)

(P. L. Pradhan)
Dy. General Manager(F&A)

(Bhavesh Mishra)
Asstt General Manager(F&A)

il E {] E +x / As per our report of even date

Ei . Bx. E. M Bb E.
Ei . P xl Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

Chartered Accountants

Chartered Accountants

xn JE
(Bx.E. M)

(N.K. Bhargava)
{]x / Partner
ni ./Membership No.080624
{VEh ./Firm Regn. No 000429N

Ei . Jb EEx Bb E.

Ei . ] Bb {i

xn JE
(i |E)

(Sharath Prakash)
{]x / Partner
ni ./Membership No.096267
{VEh ./Firm Regn. No. 000451N

Ei . l Bb BB]

For M/s Khandelwal Kakani & Co.

For M/s Batliboi & Purohit

For M/s Sarath & Associates

Chartered Accountants

Chartered Accountants

Chartered Accountants

xn JE
(i nJ)

(Santosh Deshmukh)
{]x / Partner
ni ./Membership No.071011
{VEh ./Firm Regn. No. 01311C

lx / Place: EEi / Kolkata

nxE / Date: 07.05.2014

xn JE
(x ME)

(Raman Hangekar)
{]x / Partner
ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

161

xn JE

(+. I )

(R. Lakshmi Rao)

{]x / Partner
ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

< n E
ALLAHABAD BANK

31 S, 2014 E {i i Ei xEn | h
Consolidated Cash Flow Statement for the year ended 31st March, 2014

(` Ec )(`` in Crore)
h / Particulars
{Sx Miv xEn |

2013-14

2012-13

Cash Flow from Operating Activities

E nx +O, xvx +n |{i V

Interest received during the year
from Advances, Investments etc.
+x + /Other Income
P]B: /Less:

18775.60
2277.27

21052.87

17461.20
1583.72

19044.92

E nx V { |nk V /
Interest paid during the year on Deposits

(12854.61)

(12047.15)

|vx B +EEi+ i {Sx

Operating Expenses including Provisions & Contingencies
Vc: / Add:
l +i { / Depreciation on Fixed Assets

(6434.49)

(19289.10)

(5267.22)

(17314.37)

84.05

75.60

1847.82

1806.15

B. {Sx Vi xEn
({SxMi +i + ni+ {ix {)
a.

Cash Profit generated from operations

(prior to changes in operating
assets and liabilities)

. ni+ r (E)
b.

Increase (Decrease) in Liabilities

V /Deposits
+x niB B |vx /Other Liabilities & Provisions

12100.96
925.83

13026.79

19150.07
505.24

19655.31

(14846.41)

(18343.84)
(4168.26)
20.15

(22491.95)

. +i E (r)
c.

Decrease (Increase) in Assets

+O / Advances
x /Investments
+x +i / Other Assets
B. {SxMi Miv x xEn | B
A.

(8517.78)
(5700.21)
(628.42)

Net Cash Flow from Operating Activities (a+b+c)

28.20

(1030.49)

x Miv xEn |
Cash Flow from Investing Activities
l +i E G/xih Sale/disposal of fixed assets
l +i E G/Purchase of fixed assets

10.30
(152.81)

14.49
(136.76)

. x Miv xEn |
B.

Net Cash Flow from Investing Activities

(142.51)

(122.27)

k{h Miv xEn |

Cash Flow from Financing Activities
=v /Borrowings
=v { V /Interest on Borrowings
(E i) / Dividends (including tax)
<C] E xM / Issue of Equity Share
] ii b E Sx
Redemption of Tier-ii Bonds

2034.64
(579.95)
(511.84)
400.00

1204.97
(521.38)
(348.91)
x/NIL

x/NIL

(200.00)

. k Miv xi x xEn
C.

Net Cash generated from Financing Activities

1342.85

162

134.68

(` Ec )(`` in Crore)

Ei xEn | h (V...) / Consolidated Cash Flow Statement (Contd.)

h / Particulars

2013-14

2012-13

E nx E xEn | B++
Total Cash Flow during the year (A+B+C)

1228.54

(1018.08)

b. E + xEn + xEn i
D.

Cash and Cash equivalent at the

beginning of the year

i W E E { xEn il
Cash and Balances with RBI

7808.29

8712.48

5278.77

5392.66

E + M il +{ Sx { n vx
Balances with Banks and Money
at Call and Short Notice

E / Total
<. E +i xEn + xEn i
E.

13087.06

14105.14

Cash and Cash equivalent at the

end of the year

i W E E vtm xEn +
Cash and Balances with RBI

8834.52

7808.29

5481.08

5278.77

E + M il +{ Sx { n vx
Balances with Banks and Money
at Call and Short Notice

E /Total
E nx E xEn | (<-b)

14315.60

13087.06

1228.54

(1018.08)

Total Cash Flow during the year (E-D)

xnE / Directors:
b. E Cx / Dr. Shashank Saksena
B. =nMi / Shri A. Udgata
<. {. / Shri Y. P. Singh
x E / Shri Nirmal Kumar Bari
V E / Shri Sanjeev Kr. Sharma
n xh / Shri D. N. Singh
+V C / Shri Ajay Shukla
b. n{ Sv / Dr. Sudip Chaudhuri
B. {. . Bx. / Shri A. P. V. N. Sarma
+E V /Shri Ashok Vij

E `

V. E. J

B. E. M

{. B. |vx

+vI B |v xnE

E{E xnE

|vE (k B J)

={ |vE (k B J)

E |vE (k B J)

(Rakesh Sethi)
Chairman & Managing Director

(J. K. Singh Kharb)

Executive Director

(A. K. Goel)
General Manager (F&A)

(P. L. Pradhan)
Dy. General Manager(F&A)

(Bhavesh Mishra)
Asstt General Manager(F&A)

il E {] E +x / As per our report of even date

Ei . Bx. E. M Bb E.

Ei . P xl Bb E.

For M/s N.K. Bhargava & Co.

For M/s Raghu Nath Rai & Co.

Chartered Accountants

Chartered Accountants

xn JE
(Bx.E. M)

(N.K. Bhargava)
{]x / Partner
ni ./Membership No.080624
{VEh ./Firm Regn. No 000429N

Ei . Jb EEx Bb E.

Ei . ] Bb {i

xn JE
(i |E)

(Sharath Prakash)
{]x / Partner
ni ./Membership No.096267
{VEh ./Firm Regn. No. 000451N

Ei . l Bb BB]

For M/s Khandelwal Kakani & Co.

For M/s Batliboi & Purohit

For M/s Sarath & Associates

Chartered Accountants

Chartered Accountants

Chartered Accountants

xn JE
(i nJ)

(Santosh Deshmukh)
{]x / Partner
ni ./Membership No.071011
{VEh ./Firm Regn. No. 01311C

xn JE
(x ME)

(Raman Hangekar)
{]x / Partner
ni ./Membership No.30615
{VEh ./Firm Regn. No.101048W

lx / Place: EEi / Kolkata

nxE / Date: 07.05.2014

163

xn JE

(+. I )

(R. Lakshmi Rao)

{]x / Partner
ni ./Membership No.029081
{VEh ./Firm Regn. No.05120S

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS 1 - {V
SCHEDULE 1 - CAPITAL

|vEi {V /Authorised Capital

xMi {V (50,00,26,189 , |iE `10)
Issued Capital (544609336 Shares of Rs.10.each)

3000.00

3000.00

544.61

500.03

544.61

500.03

544.61

500.03

x/NIL
x/NIL

x/NIL
x/NIL

544.61

500.03

+nk {V (50,00,26,189 , |iE `10)

Subscribed Capital (544609336 Shares of Rs.10 each)

M M< {V (50,00,26,189 , |iE `10)

Called-up Capital (544609336 Shares of `10 each)

P]B: +nk M /Less: Calls unpaid

Vc: Vi / Add: Forfeited shares
E / Total

+xS 2 - |Ii + +v
SCHEDULE 2 - RESERVES & SURPLUS
h / Particulars

vE |Ii / Statutory Reserves

{V |Ii / Capital Reserves
Ex { vqse |thrGr;gtk /Capital Reserves on Consolidation
| / Share Premium
V B +x |Ii / Revenue and other Reserves
B x Ji / Balance in Profit and Loss Account
E / Total

3059.02

2770.60

1250.96

1251.55

64.25

64.25

2151.49

1796.08

4447.88

4822.39

523.08

373.33

11496.68

11078.20

+xS 3 - V
SCHEDULE 3 - DEPOSITS

h / Particulars
B/A. I. M xI{ / Demand Deposits
(I) E / From banks
(ii) +x / From others
II. Si E V / Savings Bank Deposits
III. n V / Term Deposits
(I) E / From banks
(ii) +x / From others
E / Total (I, II, III)
/B. (i) Deposits of branches in India
i li J+ E xI{
(ii) i E li J+ E xI{
Deposits of branches outside India

E / Total (I and II)

164

49.15

49.64

9047.60

9904.58

50727.60

44975.28

1059.36

1754.69

129951.19

122049.75

190834.90

178733.94

189160.18

177663.12

1674.72

1070.82

190834.90

178733.94

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS 4 - =v
SCHEDULE 4 - BORROWINGS

h/Particulars
i =v / Borrowings in India
I.
900.00
(I) i W E /Reserve Bank of India
(ii) +x E / Other banks
8.21
227.15
(iii) +x lB B +Eh / Other institutions and agencies
(iv) Mh xx n @h Ji/ Subordinated Innovative Perpetual Debt Instrument 300.00
1000.00
(v) Mh @h-+{ ] II {V / Subordinated Debt - Upper Tier II Capital
(vi) Mh @h- ] II {V / Subordinated Debt - Tier II Capital
2411.90
7291.72
II. i E =v / Borrowings outside India
E /Total (I and II)
12138.98
={H I + II i |ii =v
Secured borrowings included in I and II above
x/NIL

x/NIL
6.75
276.85
300.00
1000.00
2411.90
6108.85
10104.35

x/NIL

+xS 5 - +x niB B |vx

SCHEDULE 5 - OTHER LIABILITIES AND PROVISIONS

h / Particulars
I.
n / Bills payable
II. +i-Ex Vx (x) / Inter -office adjustments (net)
III. ={Si V / Interest accrued
VI. +lMi E niB / Deferred Tax Liabilities
V. +x (|vx i) / Others (including provisions)
E /Total

449.24

332.00

223.88

423.84

577.92

351.14

373.86

24.59

4311.87

3270.42

5936.77

4401.99

220951.94

204818.51

539.31

524.19

8295.21

7284.10

x/NIL

x/NIL

8834.52

7808.29

+xS 6 - i W E xEn +
SCHEDULE 6 - CASH AND BALANCES WITH RESERVE BANK OF INDIA

h / Particulars
Ec (n E x] mrn;)/
I.
Cash in hand (including foreign currency notes)
II.

i V E / Balances with Reserve Bank of India

(i) S Ji / In Current Account
(ii) +x Ji / In Other Accounts
E / Total (I & II)

165

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS - 7 E + M il +{ Sx { n vx
SCHEDULE 7 - BALANCES WITH BANKS AND MONEY AT CALL & SHORT NOTICE
h / Particulars

i / In India
(i) E / Balances with banks
(B)/(a) S Ji / In Current accounts
()/(b) +x V Ji /In Other Deposit accounts
(ii) M il +{ Sx { n vx / Money at call and short notice
(B)/(a)E / With banks
()/(b)+x l+ / With other institutions
E /Total
II. i E / Outside India
(B)/(a) S Ji / In Current account
()/(b) +x V Ji / In Other Deposit accounts
()/(c) M il +{ Sx { n vx / Money at call and short notice
E / Total
E M /Grand Total (I & II)
I.

68.11

592.51

720.02

417.03

200.00

1084.88

x/NIL

x/NIL

988.13

2094.42

1107.75

1962.94

x/NIL

x/NIL

3385.20

1221.41

4492.95

3184.35

5481.08

5278.77

50046.87
45.53
442.59
6292.06
207.76
7341.43

45853.55
46.93
371.52
4465.39
239.58
7699.06

64376.24

58676.03

x/NIL
x/NIL
x/NIL
x/NIL

x/NIL
x/NIL
x/NIL
x/NIL

64376.24

58676.03

64768.07
391.83
64376.24

58991.56
315.53
58676.03

x/NIL
x/NIL

x/NIL
x/NIL

+xS 8 - xvx
SCHEDULE 8 -INVESTMENTS
h / Particulars
I. i xvx / Investment in India in
(i) E |ii /Government securities
(ii) +x +xni |ii /Other approved securities
(iii) / Shares
(iv) bS + v {j / Debentures and Bonds
(v) BB] xvx /Investment in Associates
(vi) +x (gwawyt VUzTm gqxeytRo ytr=) /Others (Mutual Funds, UTI etc)

E / Total
II. i E xvx / Investments outside India in
(i) E |ii (lx |vEh i)
Government securities( including local authorities)
(ii) BB] xvx / Investment in Associates
(iii) +x xvx / Other Investments
E /Total
E M /Grand Total (I) & (II)
III.

i xvx /Investment in India

(i) xvx E E / Gross value of Investments
(ii) +I i E |vx / Aggregate of Provisions for Depreciation
(iii) x xvx / Net Investment
(iv) i E xvx / Investment outside India
(i) xvx E E /Gross value of Investments
(ii) +I i E |vx / Aggregate of Provisions for Depreciation
166

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS 9 - +O
SCHEDULE 9 -ADVANCES

h / Particulars
B/A. (i) G E MB B xB MB / Bills purchased and discounted
(ii) xEn @h, +b] + M { |in @h
Cash credits, overdrafts and loans repayable on demand
(iii) n @h / Term loans
E /Total
/B. (i) i +i u |ii/ Secured by tangible assets
( @h { +O i/Includes advances against book debts)
(ii) E/E |ii u Ii /
Covered by Bank/ Government Guarantees
(iii)

Vxi/Unsecured

E /Total
/C. I. i +O /Advances in India
(I) |lEi Ij /Priority sector
(ii) VxE Ij / Public sector
(iii) E / Banks
(iv) +x /Others
E /Total
/C. II. Advances outside India
(I) E =ug /Due from banks
(ii) +x =ug / Due from others
(B/a) G EB MB + xB MB / Bills purchased & discounted
(/b) i @h / Syndicated Loans
(/c) +x /Others
E /Total
E M ( I+ II) /Grand Total (C I+ C II)

2179.56

2085.43

62438.88

61920.12

73389.12

65484.23

138007.56

129489.78

124012.78

109771.05

3708.20

4932.28

10286.58

14786.45

138007.56

129489.78

46663.92

39403.44

13605.46

16232.01

x/NIL

x/NIL

71876.05

67608.96

132145.43

123244.41

1318.13

4399.68

x/NIL

x/NIL

87.75

84.54

2098.43

1509.16

2357.82

251.99

5862.13

6245.37

138007.56

129489.78

1043.04

1031.86

+xS 10 - l +i
SCHEDULE 10 - FIXED ASSETS

h / Particulars
I. { /Premises
{i E 31 S fUe r:r; fuU ylwmth Mi {
At cost as on 31st March of the preceding year

E nx {vx / Additions during the year

E nx vwlbqogtkrfU; / Revalued during the year
E nx E]i /Deductions during the year
+V E iJ iE yJGg / Depreciation to date
E /Total I

27.80

11.19

x/NIL

x/NIL
x/NIL

0.01

167

95.04

87.05

975.79

956.00

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

IB/A.

xhvx { / Premises under construction

E nx {vx / Additions during the year
E nx E]i / Deduction during the year
+V E iJ iE +I / Depreciation to date
E /Total

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

37.15

21.63

x/NIL

15.52

6.46

x/NIL

x/NIL
x/NIL

30.69

37.15

At cost as on 31st March of the preceding year

929.61

829.35

E nx {vx / Additions during the year

E nx E]i / Deductions during the year
+V E iJ iE yJGg / Depreciation to date
E /Total II
IIB/A. {]] { n M< +i / Leased Assets

124.20

109.65

3.83

9.40

II.

+x l +i (xS B CS i)
Other Fixed Assets (including Furniture
and Fixtures)

{i E 31 S fUe r:r; fuU ylwmth Mi {

741.12

665.57

308.86

264.03

3.59

8.31

0.47

0.38

x/NIL

5.09

3.44

2.96

0.62

0.64

1315.96

1257.82

0.02

0.13

0.35

x/NIL

x/NIL

0.11

0.37

0.02

1316.33

1257.84

{i E 31 S E li E +x Mi {
At cost as on 31st March of the preceding year

Vx i E nx {vx
Additions during the year including adjustments

|vx i E nx E]i
Deductions during the year including provisions

+V E iJ iE +I / Depreciation to date
E /Total III B/A
E / Total ( I, I B/A, II & II B/A )
III.

{V - |Mii E / Capital- Work - in -

progress ( Leased Assets )

+l /Opening Balance
Vx i E nx {vx
Additions during the year including adjustments

|vx i E nx E]i
Deductions during the year including provisions

E /Total
E /Total ( I, I B/A, II, II B/A & III )

168

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS 11 - +x +i
SCHEDULE 11 - OTHER ASSETS

h /Particulars
+i E Vx (x) /Inter-Office Adjustments (net)
I.
II. ={Si V /Interest accrued
III. +O { nk E/i { E] M E/

x/NIL

x/NIL

1283.37

1002.64

535.40

722.64

15.50

13.46

x/NIL

x/NIL

3.54
1098.40
2936.21
220951.94

3.72
565.34
2307.80
204818.51

2065.79

1201.85

0.16

0.16

54635.15

33272.19

i / In India
E / Outside India
|iOh, {`Ex + +x viB

6873.56

8877.43

868.96

1992.49

Acceptances, endorsements and other obligations

8354.00

7755.57

IV.

Tax paid in advance/tax deducted at source

Jx O B ]{ /
Stationery and stamps

V.

n E i] |{i E M< M-EE +i

VI.
VII.

Non-banking assets acquired in satisfaction of claims

+lMi E +i / Deferred Tax assets
+x /Others
E /Total
E /Grand Total

+xS 12 - +EE
SCHEDULE 12 - CONTINGENT LIABILITIES

h /Particulars
E E r n Vx @h E { E x E M
I.
Claims against the bank not acknowledged as debts
II.
III.

+i: nii x E B ni / Liability for partly paid investments

E n x n+ E Eh ni
Liability on account of outstanding forward
exchange contracts

IV.

OE E + n M< |ii

Guarantees given on behalf of constituents

(B/a)

(/b) i
V.
VI.

+x n VxE B E +EE { Vn
Other items for which the Bank is contingently liable

561.05

78.96

73358.67

53178.65

13911.82

12745.04

4591.02

4498.34

Interest on balances with Reserve Bank of India and other inter-bank funds

116.38

159.93

+x/Others

156.38

57.89

18775.60

17461.20

E /Total

+xS 13 - +Vi V B
SCHEDULE 13 - INTEREST AND DIVIDENDS EARNED

h /Particulars
I.
+O/ { V/]] / Interest/discount on advances/bills
II. x { + /Income on investments
III. i W E + +x +i-E xv { V
IV.

E /Total
169

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS 14 - +x +
SCHEDULE 14 - OTHER INCOME
I.
II.

Ex, x + n / Commission, exchange and brokerage

, x il +x +i E G {

903.50

784.27

0.05

0.09

(0.02)

(0.04)

304.30
(130.62)

665.78
(539.20)

292.31
(3.39)

328.06
(74.08)

x/NIL
x/NIL
x/NIL
x/NIL
x/NIL
x/NIL

x/NIL
x/NIL
x/NIL
x/NIL
x/NIL
x/NIL

908.07

400.23

2274.20

1565.11

12854.61

12047.15

Interest on Reserve Bank of India/ inter-bank borrowings

177.07

169.35

+x /Others

402.88

352.03

13434.56

12568.53

Profit on sale of land, buildings and other assets

P]B: , x il +x +i E G { x
Less: Loss on sale of land, buildings and other assets
III.
IV.
V.
VI.

VII.

x xnx { / Profit on exchange transactions

P]B: x xnx { x / Less: Loss on exchange transactions
xvx (x) E G { / Profit on sale of investments(net)
P]B: xvx E G x / Less: Loss on sale of investments
xvx E {xEx { / Profit on revaluation of investments
P]B : xvx E {xEx { x/ Less: Loss on revaluation of investments
B/a) {]]-k + /Lease finance income
/b) {]] |vx E /Lease management fee
/c) +in | / Overdue charges
b/d) {]] E |{ vh V /Interest on lease rent receivables
v + / Miscellaneous income
E /Total

+xS 15 - E M V
SCHEDULE 15 - INTEREST EXPENDED

h / Particulars
V { V /Interest on deposits
I.
II. i W E/+i-E =v { V
III.

E / Total

170

+xS

SCHEDULE

lli

/ As on
31.03.2014
(` Ec )
` in Crore)
(`

Particulars

lli

/ As on
31.03.2013
(` Ec )
` in Crore)
(`

+xS 16 - {Sx
SCHEDULE 16 - OPERATING EXPENSES

h / Particulars
ES E Mix il =xE B |vx /

I.

Payments to and provisions for employees

2260.66

2000.69

II.

332.99

280.00

III.

31.65

29.32

39.81

31.55

84.05

75.60

x/NIL

x/NIL

2.96

1.44

24.51

15.32

21.65

19.23

c, E B x /Rent, taxes and lighting

ph + Jx O /Printing and stationery
IV. Y{x + |S / Advertisement and publicity
V.(B/a) {]] +i { +I/
Depreciation on Banks property other than Leased Assets

V.(/b) Depreciation on Leased Assets

VI.
VII.

xnE E , k + / Directors fees, allowances and expenses

J{IE E + /
(J J{IE E + i)
Auditors fees and expenses
(including branch auditors fees and expenses)

v | /Law charges
IX. bE, i, ]x +n / Postage, telegrams, telephones, etc.
X. i + +xIh / Repairs and maintenance
XI. / Insurance
XII. J E {vx, n E< / Amortisation of Goodwill, if any
XIII. +x /Other expenditure
E /Total
VIII.

61.35

38.90

70.77

59.84

160.00

125.71

0.00

0.00

493.51

390.10

3583.91

3067.70

+xS 17 SCHEDULE 17

h / Particulars
BB] +Vx/ x E + /Share of Earnings/Loss in Associates
BB] E h/Details of Associates
x /Name
<n { Oh E /Allahabad UP Gramin Bank
<n E E + /Allahabad Banks share
{i vi Vx/Adjustment relating to earlier years
E nx x M /Considered during the year

171

21.94

64.64

7.68

22.62

x/NIL

x/NIL

7.68

22.62

Ei J+ vi |ME
J J xi

RELEVANT PRINCIPAL ACCOUNTING POLICIES ON

THE CONSOLIDATED ACCOUNTS

1.

i E +v
E, <E +xM + BB] E Ei k h,
i xn JE lx u V J xE, vi
xE |vE u { V xnxn +
xi Ei J ri E +x i EB MB *

2.

|CEx E ={M
k h E i Ex E B |vx +{Ii E
k h E il E +i + ni+(+EE
ni+ i) E {] E M< B {]M +v i
{] E M< + + E { S Ei B |CCx
E B +xx MB* |vx E E k h
i Ex i ={M EB MB |CEx E{h B Si
* {h <x |CEx z Ei * J |CEx
E vx E, V iE E +xl =Ji x S B
+v i | { {Sx E Vi *

3.
(i)

Ex |G
Ei k h <n E + <E +xM,
H =t B BB] E J *

(ii)

<n E + <E +xM, H =t E k h

E +i, ni+, + + V x n E
E Vci B, <] O{ B <] O{ xnx, E { i
]E, V +xl =Ji = UcE, {H n {H
+v { Ei E M *
xxJi +xM E i xn JE lx u
V J xE 21 Ei k h E +x
Ei E M :

(iii)

1.

Basis of Preparation
The consolidated financial statements of the Bank and
its subsidiary, joint ventures & associate have been
prepared in accordance with the Accounting Standards
issued by the Institute of Chartered Accountants of India
and guidelines issued by the respective regulatory
authorities from time to time and generally accepted
accounting principles.
2. Use of Estimates
The preparation of financial statements requires the
management to make estimates and assumptions
considered in the reported amount of assets and liabilities
(Including contingent liabilities) as of date of the financial
statement and reported income and expenses for the
reporting period. Management believes that the estimates
used in preparation of the financial statement are prudent
and reasonable. Future results could differ from these
estimates. Any revision to the accounting estimates is
recognized prospectively in the current and future periods
unless otherwise stated.
3. Consolidation procedure
(i) The consolidated financial statements include the
accounts of Allahabad Bank and its subsidiary, joint
ventures & associate.
(ii) The financial statements of the Bank and its subsidiary &
joint ventures have been combined on a line to line basis
by adding together the book values of like items of assets,
liabilities, income and expenses, after fully eliminating
intra group balances and intra group transactions, except
wherever otherwise stated.
(iii) The following subsidiary has been consolidated as per
the Accounting Standard 21, Consolidated Financial
Statements issued by the Institute of Chartered
Accountants of India.

E{x E x

n/x

Name of the Company

Country / Residence

Relationship

+ E <x ]b

+xM

AllBank Finance Limited

India

Subsidiary

(iv)

xxJi BB] + H =t i xn JE
lx u V J xE 23 Ei k h
BB] x E J B J xE 27, H
=t i E k {]M E +x G: Ei EB
MB *

i i
Ownership Interest

100%

(iv) The following associate and Joint ventures have been

consolidated as per the Accounting Standard 23, Accounting for Investments in Associates in Consolidated
Financial Statements and Accounting Standard 27, Financial Reporting of Interest in Joint Ventures issued by
the Institute of Chartered Accountants of India respectively:

l E x

n/x

i i

Name of the Entity

Country / Residence

Relationship

Ownership Interest
35.00%

<n { Oh E

|Vi E

Allahabad UP Gramin Bank.

India

Sponsor Bank

x { Vx < E{x ]b

H =t

Universal Sompo General Insurance

Company Ltd.

India

Joint Venture

+E (<b) ]b

mkgw; Wb

ASREC (India) Ltd.

India

Joint Venture

172

30.00%

27.04%

i{h J xi E |E]Eh
=Ji EM xi Ji: E l vi * E E BE
+xM V C 1 S] E E { {VEi + BE
H =t E{x V M-Vx M + BE
H =n E{x +i {xM`x M * BE BB]
EM * +xM H =n E{x + BB]
E{x =xE xE u xvi J xi E {x
Ei * <x +M xn] x E M CE Oi:
k h E {|I x i{h x *
4.

4.

Disclosure of significant accounting policies

The accounting policies mentioned primarily relate to the

Bank entity. The Bank has a subsidiary which is registered
with the SEBI as a Class I Merchant Banker, one Joint Venture
Company is in the business of non-life insurance and one Joint
Venture Company is in asset reconstruction business. One
Associate is in the banking business. The Subsidiary, Joint
Venture Companies and Associate follow accounting polices
prescribed by their governing regulators. These have not been
specified separately as these investments are not material in
the context of the overall financial statements.

n p r x-nx
i JB/E

5.

n J+ E xx-<]O x +{x E {
MEi E M il =xE k h E xxx
|ni E M *
pE B M-pE +i B niB il +EE niB
x BCSV b BBx + <b (b<) u
|iE i E {i { n Vx +i {] n {*

(i) Foreign Branches are classified as Non-integral Foreign

Operations and their financial statements are translated
as follows:

Both monetary and non-monetary Assets and Liabilities

as well as Contingent Liabilities at the closing spot rates
notified by the Foreign Exchange Dealers Association of
India (FEDAI) at the end of each quarter.

V n b< u vi i E {i { +vSi
i +i +i n { {ii E Vi *

Revenue items are translated at the quarterly average

closing rate notified by FEDAI at the end of respective
quarter.

{h x +i E BE +M Ji n p
]x V J Vi *
n li |ixv E E {Sx E <]O x
+{x E { MEi E M il =xE k
h E Mhx xxx E Vi :
pE +i B niB, M], Ei, {Ex il
+x |iriB b< E nxnx |iE i E +i
|Si {] x n { i { +E Vi *

All resulting exchange difference is accumulated in a

separate account Foreign Currency Translation Reserve.

All monetary Assets and Liabilities, Guarantees,

Acceptances, Endorsements and other obligations are
translated to Indian rupee equivalent at the spot exchange
rates prevailing at the end of each quarter as per FEDAI
guidelines.

M-pE n xnx E il { |Si x n { +E

Vi *

Non-monetary items are translated at exchange rate

prevailing on the date of transaction.

V n E Mhx xnx E il { |Si x n {

E Vi *

Revenue items are accounted for at the exchange rates

prevailing on the date of transaction.

{h x +i E -x J J Vi *

All resulting exchange differences are accounted for in

Profit & Loss Account.

5.
5.1
(i)

(ii)

Transactions involving Foreign Exchange

5.1 Branches / Offices outside India

(ii) Operations of representative offices abroad are classified

as Integral Foreign Operations and their financial
statements are accounted for as follows:

+O E i E |Si h E +iMi MEi

E VBM* +O E v |vx lx v +{I+
+l ..E E xE, V +vE , E +x E
VBM*
5.2 i JB
(i) n p S +i +l ni (BBx+ Vx,
<<B Vx, +B Vx +n E +xiMi Oi V
i) il E n x n E i
n p { P (B<bB+<) u l Si i
+i E n { {ii E M *

(iii) Advances will be classified under categories in line with

those of Indian Offices. Provisions in respect of advances
will be made as per the local law requirements or as per
the norms of RBI, whichever is higher.

n x n E {x Ex { {h /x il
x] Ji B < b B +< E nxn E +x V
B MB *

The resultant profit/loss on revaluation of forward

exchange contracts and NOSTRO accounts is taken to
revenue as per FEDAI guidelines.

(iii)

5.2 Branches in India

(i) Foreign currency balances whether of assets or liabilities
[including deposits mobilized under FCNR Scheme, EEFC
Scheme, RFC Scheme etc.] and outstanding forward
exchange contracts are converted at quarter end rates as
advised by Foreign Exchange Dealers Association of India
(FEDAI).

173

(ii)
(iii)

6.
(i)

(ii)

(iii)

(iv)

n p vi + + E n E xnx E iJ
E |Si x n E |M E {ii E Vi *
Ei, {`Ex + M] i +x ni E
|iE i E +i b< u Si |Si n { +E
Vi *
x

(ii) Income and Expenditure items relating to foreign currency

are converted using the exchange rate prevailing as on
the date of transaction.
(iii) Acceptances, endorsements and other obligations
including guarantees are stated at FEDAI advised rates
prevailing at the end of each quarter.
6. Investments

EM xx +vx 1949 E i +xS E E

E +{I E +x x E |E]Eh E xxJi U
MEi E Vi :
(B) E |ii,
() +x +xni |ii,
() ,
(b) bS B b,
(<) +xM lB/H =t il
(B) +x
E E x {] E i V E E nxn
E +x +M ix M MEi E Vi

(i) In conformity with the requirements in Form A of the Third

Schedule to the Banking Regulation Act, 1949,
Investments are classified into the following six groups :

(B) {{Ci iE vi (BS]B)

() G i ={v (BBB)
() { i vi (BSB])
(B) x V E {{Ci iE vi Ex Si , E
{{Ci iE vi E { MEi E Vi *
() x V G E il 90 nx i riE {
{xG i vi E Vi , E { i vi
E { MEi E Vi *
() x V =Ci nx h MEi x , E G
i ={v E { MEi E Vi *
(b) x E G E = {{Ci iE vi,
i vi +l G E B ={v E { MEi
E Vi B h ii{Si }]M xE
nxn E +x{ E Vi *
(<) +xME, Ci =t il M l x
E {{Ci i vi E { MEi E Vi *
i V E E nxn E +x Ex E |Vx
i xxJi ri +{xB MB *
(B) (i) BS]B vi |ii- +Vx Mi { +Ei
+vE +Vx Mi E {{Ci E +v
{vi E Vi *
(ii) Ij Oh E, +xM B H =t
x E J Mi { Ei E Vi *

(a) Government Securities,

(b) Other Approved Securities,
(c) Shares,
(d) Debentures & Bonds,
(e) Subsidiaries/ Joint Ventures and
(f) Others
(ii) The Investment portfolio of the Bank is further classified
in accordance with the RBI guidelines into three categories
viz.,
(a) Held to Maturity (HTM)
(b) Available for Sale (AFS)
(c)

(iii) a) Investments that the Bank intends to hold till maturity

are classified as Held to Maturity.
b) Investments that are held principally for resale within
90 days from the date of purchase are classified as
Held for Trading.
c) Investments, which are not classified in the above two
categories, are classified as Available for sale.
d) An investment is classified as Held to Maturity, Held
for Trading or Available for sale at the time of its
purchase and subsequent shifting amongst categories
is done in conformity with regulatory guidelines.
e) Investments in subsidiaries, joint ventures and
associates are classified as Held to Maturity.
(iv) As per RBI guidelines, the following principles have been
adopted for the purpose of valuation

, +l< <i, n E< , B x E

Ex i |vx E Vi *
()

Held for Trading (HFT)

BBB B BSB] h vi |ii E

x G{ E Vi * r/ E |ii E
|iE h Vc Vi + |V xnb E
+x -x Ji x E {Sx E
Vi VE x r E Yx x Vi *
(i)

174

(a) (i) Securities held in HTM at acquisition cost The

excess of acquisition cost over the face value is
amortized over the remaining period of maturity.
(ii) Investments in Regional Rural Banks,
subsidiaries and Joint Ventures are valued at carrying
cost.
Diminution, other than temporary, if any, in valuation
of such investments is provided for.
(b) (i) Securities held in AFS and HFT categories are
valued scrip-wise. Appreciation/depreciation is
aggregated for each class of securities and net
depreciation as per applicable norms is recognized in
the Profit and Loss Account, whereas net appreciation
is ignored.

(v)

+x{V |ii (V V/vx 90 nx +vE E

+v E ) E + +Yi x E Vi
il +i MEh E E{h xnhb +{xi B |ii
E +I i Si |vx E Vi + B
+I E +x x{nE |ii r E n ]-+
x E Vi *

(v) In respect of non-performing securities (where interest/

principal is in arrears for more than 90 days) income is
not recognized and appropriate provision is made for
depreciation in the value of the securities by applying
prudential norms of asset classification and such
depreciation is not set-off against the appreciation in
respect of other performing securities.

(vi)

x E |{i E Mi

(vi) Cost of acquisition of investments

is net of incentives/commission and front-end fees

received in case of securities subscribed, and

excludes commission, brokerage, securities trans

action tax and stamp duty.

G< E M< |ii E |ix il

Ex + ]-Bb E E x *
z
Ex, n, |ii x-nx E il ]{ b]
x *
x E G |{i /x E B x J
+Yi E Vi * il{ {{Ci iE vi MEh
x E G |{i E i (E
E x + vE +Ii E +ih E x) {V
+Ii Ji xVi E Vi *

(vii) Profit/loss on sale of investments in any category is

recognized in the Profit and Loss Account. However, in
case of profit on sale of investments in HTM category,
an equivalent amount (net of taxes and net of transfer to
Statutory Reserves) is appropriated to the Capital Reserve
Account.

(viii)

x E V E xvh i ]E BCSV E]x

B+<BBbB/{bB+< u |ii n E +{x Vi
* B E]x/n E + V E xvh
B+<BBbB/{bB+< +l i V E u xvi
xnb E +x Si {{Ci |i n { E
Vi *

(viii)For the purpose of determining market value of

investments, Stock exchange quotations or rates put up
by FIMMDA/PDAI are adopted. In absence of such
quotations/rates, the market value is determined by
applying appropriate Yield to Maturity rates as prescribed
by FIMMDA / PDAI or as per norms laid down by the
Reserve Bank of India.

(ix)

h E S |ii E +ih

(ix) Transfer of Securities between categories

(vii)

(x)

={H { 6(ii) (B) () xn] h E S |ii

E +ih, +ih E il E +Vx Mi/ /V
E Ei { xE Vi * B +ih {
, n E< , =E {hi |vx E Vi *

The transfer of securities between categories specified

at para 6 (ii) (a) to (c) above are carried out at the lower of
acquisition cost / book value /market value on the date of
transfer. The depreciation, if any, on such transfer is fully
provided for.

i V E E nxn E +x z h
E { E x xxx E Vi *
z
V {
V n {, V V +i + ni+ E S Ei
, E ={Si +v { Vi = +i +l
ni i xq] { E Uc E V k h V
{ +l Mi V E { Vi *

(x) As per RBI guidelines, the different categories of Swaps

are valued as under:

{ E xx { x +l x E { E
nMi +v +l +i/ni+ E +v E
{ +Yi E Vi *

Gains or Losses on the termination of Swaps are

recognized over the shorter of the remaining contractual
life of the Swap or the remaining life of the assets /
liabilities.

7.
(i)

Interest rate swaps which hedges interest bearing

assets or liabilities are accounted for on accrual basis
except the Swaps designated with an assets or liability
that is carried at market value or lower of cost or market
value in the financial statements.

]bM {

]bM { xnx E k h nV {ix E l

V Sxi E Vi *
+O
i +O E xE, +xE, nMv +l xMi E
{ MEi E Vi + i V E u xvi
E{h xnb E +x |vx E Vi * n J+
EB MB +O E v i V E u xvi
E{h xnb + V n +O nB MB =xE
lx Exx, V +vE Ec , E +x MEi E
Vi *

Hedge Swaps

Trading Swaps

Trading Swap transactions are marked to market with

changes recorded in the financial statements.
7.

Advances

(i)

Advances in India are classified as Standards, Sub

Standard, Doubtful or Loss assets and provisions for
advances are made as per Prudential Norms of the RBI.
In respect of advances made in overseas branches,
advances are classified in accordance with prudential
norms prescribed by the RBI or Local Laws of the host
countries in which advances are made, which ever is
more stringent.

175

(ii)

|E]i +O +xVE +O i EB MB |vx + Si

+O E =Si E E n EB MB |vx E x
i * Si +O E =Si E E |vx E
E nxn E +x x ix { { Vi
*

(ii)

(iii)

il{ i V E E nxn E +x xE +O
(={V) i EB MB |vx E +x niB B |vx E
ii E Vi *

(iii) The provision made for standard advances (performing)

in terms of RBI guidelines is however included in Other
Liabilities and Provisions.

8.

l +i +
Ei{ { E +, Vx =xE {xEi
n M , +x { + +x l +i E =xE
{i Mi { n Vi *
xh +v E nx EB MB {VMi E +x +i
E +iMi E Vi *
+I E |vx, BB{B B E{] E UcE, V
i V E E nxn E +x{ v {ri
33.33% E n +I E |vx , E{x +vx,
1956 E +xS XIV xvi n { x {ri E
+v { E Vi *
{x Ei +i E v {x Ex E { +iH
+I E E +Ii {V x J +ii
E Vi *
V b { | E V E +v E n x v J
{ri { {vi E Vi *
n J+ E l +i { +I E Mhx = n
|Si Exx E +x E Vi *

8.

Fixed Assets and Depreciation

(i)

Premises including Freehold and other Fixed Assets

are stated at historical cost except certain Premises,
which are stated at their revalued amount.

(ii)

Capital expenditure incurred during construction period

is included under Other Assets.

9.

+i +i (E{] }])

9.

Intangible Assets (Computer Software)

(i)

E{] i }], V ] }] E x E{]

{Si x Ei, r b E +z M , il
+S +i x Vi * V }] b E +z
+M x E{] }] E +i +i x Vi *

(i)

Software for a computer that cannot operate without that

specific software is an intangible part of related hardware
and is treated as fixed assets. Where the software is not
an integral part of the related hardware, Computer
software is recognised as an Intangible Asset.

(ii)

b |{i E{] }] E i +i +i x VM
V }] E /Mi `10 J +vE * < |E
E +i +i =xE G +v E n x +vEi 10
E +v iE {vi E Vi *

(ii)

Computer software acquired from vendors is recognised

as Intangible Asset only if the value /cost of the software
is more than `10 Lakhs. Such intangible assets are
amortised over its effective life subject to a maximum
period of ten years.

10.

ES

10. Employee Benefits

(i)

E x ES E v +{x ni+ E xi i
i xn JE lx u V J xE 15(vi)ES M E *

(i)

The Bank has applied Accounting Standard 15(Revised)

Employees Benefits, issued by the Institute of Chartered
Accountants of India, for recognition of its liabilities in
respect of employee benefits.

(ii)

nPv {i ES E |i ni E xvh i
+ E +i ij EE u +vi Vx+ E
xvx v E E xi Ji v E {x Ei B
+ xS =Ji xi E +x {Vi <E< |h E
|M Ei B Sx MB z EE {xx u E Vi
*

(ii)

Liability towards long term defined employee benefits is

determined based on actuarial valuation by independent
actuaries at the year-end by using various Actuarial
Assumptions chosen following the modalities documented
in the Banks Policy on Funding Superannuation Schemes
and the Projected Unit Credit method as per policies
mentioned herein below:

(i)

(ii)
(iii)

(iv)

(v)
(vi)

Advances disclosed are net of provisions made for non

performing advances and provisions in lieu of diminution
in the fair value of restructured advances. The provision
for diminution in fair value of restructured advances is
measured in net present value terms as per RBI
guidelines.

(iii) Depreciation is provided on diminishing balance method

at the rates prescribed in Schedule XIV to the Companies
Act, 1956 except that in respect of ALPMs & Computers,
where depreciation is provided on straight line method
@ 33.33% as per RBI guidelines.
(iv) In respect of revalued assets, the amount of additional
depreciation consequent to revaluation is transferred from
Revaluation Reserve to the Profit & Loss Account.
(v)

Premium on leasehold land is amortized over the period

of the lease on straight line method.

(vi) Depreciation on Fixed Assets of foreign branches is

provided as per the applicable laws prevalent in that
country.

176

B. OS]
E lli OS] Mix +vx, 1972/ {S]/
xx E |vx E v +{x ES E xk
+l i +l {i +n E OS] E
Mix Ei * OS] E Mix i E E +nx Vi
xv E JJ +iE ]] u E Vi * E <
xv +{x +nx OS] E v +{x ni E EE
x E +v { Ei *

a.

. {x (B<{+)
<n E (ES) {x xx, 1995 (B<{+) E
+iMi E =x ES E {x E Mix Ei Vxx
< xx E +iMi {x E E{ n + =x
ES E V E 29.09.1995 31.3.2010
E +v E nx +B * < Vx ix + +E
E +v {, xk/i, V , E li
<x ES E E +v { {x nx E |vx *
{x E Ji +xv { {x E +vEi 1/3 E
{ii Ex E |vx * {ii {x 15 {h
x E {Si {x: S E Vi * B<{+-1995 E
+iMi ES xv E E +nx E {j
x * {x E Mix i E E +nx Vi xv E
JJ +iE ]] u E Vi * {.B. E EM
i ES E ix E 10% E vE E
+nx E +iH E < xv +{x +nx {x E
v +{x ni E EE x E +v { Ei V
E +xni EE u E Vi *

b.

Gratuity

The Bank pays gratuity in case of retirement or death or

resignation or termination etc. of its employees, having
regard to the provisions of Payment of gratuity Act, 1972
/ Service Awards / Service Regulations, as the case may
be. A fund created out of Banks contribution is
maintained by an in-house Trust for payment of gratuity.
The Bank makes contribution to this fund on the basis
of actuarial valuation of its liability.
Pension (ABEPR)

The Bank pays pension under Allahabad Bank

(Employees) Pension Regulations, 1995(ABEPR-1995)
to employees, who exercised option under the
Regulations and also to Employees joining the Banks
Service during the period from 29.09.1995 to 31.03.2010.
The plan provides for a pension / family pension on
monthly basis in respect of these employees on their
retirement / death, as the case may be, based on the
salary and qualifying service of the respective
employees. There is also provision for commutation of
pension to a pensioner, against written request, to the
maximum extent of 1/3 rd of Basic Pension. The
commuted basic pension is restored after completion
of 15 years of commutation. Employees covered under
ABEPR 1995 are not eligible for Banks contribution to
Provident Fund. A fund created out of Banks contribution
is maintained by an in-house Trust for payment of
Pension. The bank makes contributions to this Fund on
the basis of actuarial valuation of its liability in respect of
Pension, which is conducted by approved Actuary, in
addition to the statutory monthly contribution of 10% of
Pay of the covered employees, ranking for PF.

. +E E i (BB)

c.

v ES E |nx E Vi + < =tM

Zi/+b E +x - { lvi
x E +x Vx E +iMi l{i vi ES
E { E n E v EB MB j E |i{i
* M xvE Vx + E +{x Vx E
+iMi +E E i ni E v |vx EE
x E +v { Ei * x |iE i E
+xni EE u E Vi * BB vi
Mix E E -x Ji E Vi *

This facility is granted to the employees and extends to

reimbursement of travelling expenses incurred for the
family members of the employee concerned, as defined
under the Scheme, in terms of service rules as amended
from time to time as per Industry wide Settlements /
Awards. It is a non-funded scheme and the Bank
maintains a provision on account of its liability in respect
of Leave Fare Concession under the Scheme on the
basis of actuarial valuation, which is conducted by
approved Actuary. Payment in respect of LFC facility is
made through the Profit and Loss Account.

b. +E xEnEh

d.

E BB v E ={M Ex ES E E
S E E +vEi 30 nx E vE +E
E xEnEh E +xi |nx Ei * xk +l i
x { ES E Ji V vE +E, +vEi
240 nx E xEnEh E +xi n Vi * ES
u iM{j nx E xEnEh E
vE +E E 50% + +vEi 120 nx iE i
* M xvE Vx + E < Vx E +iMi
+E xEnEh ni E v |vx EE x E
+v { Ei x E +xni EE u
E Vi * B +E xEnEh E Mix E E x Ji E Vi *

The Bank permits encashment of Privilege Leave

balance to its employees availing LFC facility, up to the
maximum limit of 30 days leave in a block of four years
of service. Encashment of privilege leave standing to
the credit of an employee is also permitted in case of
retirement or death subject to a maximum of 240 days.
In case of resignation from the service by an employee,
such encashment is restricted to 50% of the balance of
privilege leave subject to a maximum of 120 days. It is a
non-funded scheme and the Bank maintains a provision
on account of its leave encashment liability under the
Scheme on the basis of actuarial valuation, which is
conducted by approved Actuary. Payment of such leave
encashment is made through the Profit and Loss
Account.

177

Leave Fare Concession (LFC)

Leave Encashment

 xv E v E +v i xv E M
+nx E { +Yi E Vi + + x
Ji |i E Vi *
nxE 27.04.2010 E =tM- Zi/Ci x] E +x
nxE 01.04.2010 E +l n E E +B
ES {i +nx xk Vx *

(iii) In respect of Provident Fund, the contribution for the

period is recognized as expense and charged to Profit &
Loss account.

(v)

+{v ES E = E x J +]]Ei
E { +Yi E Vi V vi
B |nx E Vi *

(v)

Short-term employee benefits are recognized as an

expense at an undiscounted amount in the Profit and Loss
Account of the year in which the related services are
rendered.

11.

+ + E +Yx

11.

Recognition of Income and Expenditure

(i)

+- E xi: ={S +v { E Vi *

(i)

Income and Expenditure are generally accounted for on

accrual basis unless otherwise stated.

+x{V +i E { MEi +O { V il +x
+ E E j iE +xvi E Vi *
(iii) + E E { { V |{i + + V E E
Mhx vi E xvh +vE u +n V EB Vx
E Vi *
12. {]]
E u |{i EB E ={Si +v { -x J +Yi
E Vi *
{Sx {]] { M< +i i {]] E Mix -x
J E { +Yi E Vi *
13. |i +Vx
|i <C] E + b<]b +Vx E {] i
xn JE lx u V J xE 20 |i +Vx
E +x E Vi *
14. Evx
(i) E i |vx S (xxi E{E E (]) i) +
+lMi nx E i E Vi * E M + { S
E E |vx, |V E n + E x E |M EE
E Vi * J xE 22 E +x{x : i E xn
JE lx u V + { E i J,
+i E Eh =i{z +lMi E +i + niB, V
{i +v |iix E M , ix {j E il iE xB
MB n x Vx E x + E n E |M
EE +Yi E Vi *

(ii)

Interest and Other Income in cases of Non Performing

Assets/Investments are recognized to the extent realized.

(i)

Provision for tax is made both current Tax (including

Minimum Alternative Tax - MAT) and deferred tax. Current
tax is provided on the taxable income using applicable
tax rate and tax laws. In compliance with Accounting
Standard 22 Accounting for Taxes on Income issued by
the Institute of Chartered Accountants of India, deferred
Tax Assets and Liabilities arising on account of timing
differences and which are capable of reversal in
subsequent periods are recognised using the tax rates
and the tax laws that have been enacted or substantively
enacted till the date of the Balance Sheet.

xxi E{E E (]) V E +i E { i x

VBM V B {] |h E E{x +-E +vx
1961 E ii xn] +v E +n x E E Mix E
nM*

(ii)

Minimum Alternate Tax (MAT) credit is recognized as

assets only when and to the extent there is convincing
evidence that the company will pay normal income tax
during the period specified under the Income Tax Act,
1961.

(iii)

(iv)

(ii)

(ii)

(iv) In terms of Industry wide Settlement/Joint Note dated

27.04.2010, employees joining the services of the Bank
on or after 01.04.2010 are covered by defined contribution
retirement benefit scheme.

(iii) Income from interest on refund of Income Tax and on

Interest Tax are accounted for in the year in which it is
received.
12.

Lease

Rentals received by the Bank are recognized in the profit and

loss account on accrual basis.
Lease payments for assets taken on operating lease are
recognized as an expense in the profit and loss account.
13. Earnings Per Share
Basic and Diluted Earnings per Equity Share are reported in
accordance with the Accounting Standard 20 Earnings per
share issued by the Institute of Chartered Accountants of India.
14. Taxation

xEn B i xEn
xEn B i xEn l xEn + B]B xEn il
i W E *
16. l +i

15. Cash and Cash equivalents

+S +i ({xEi +i i) { <{] +
(n E< ) E +Yi E M il i xn
JE lx u V J xE 28 <{] +
E +x -x Ji |i E Vi *

Impairment losses (if any) on Fixed Assets (including revalued

assets) are recognized and charged to Profit & Loss Account
in accordance with the Accounting Standard 28 Impairment
of Assets issued by The Institute of Chartered Accountants of
India.

15.

Cash and cash equivalent include cash on hand and in ATMs

and balances with RBI.
16. Impairment of Fixed Assets

178

17.
(i)

|vx, +EE niB il +EE +i

i xn JE lx u V J xE 29 |vx,
+EE niB B +EE +i E +x{ E |vx
i +Yi Ei V
B.
.
.

(ii)

17. Provisions, Contingent Liabilities & Contingent Assets

(i)

In conformity with AS 29 Provisions, Contingent

Liabilities and Contingent Assets, issued by the Institute
of Chartered Accountants of India, the Bank recognizes
provisions only when

E {U P]x E {h{ ix ni
=i{z i
E +lE vx E |
ni E vx i +{Ii M +

a. it has a present obligation as a result of a past event;

V ni E E x +xx E V Ei
*

c. when a reliable estimate of the amount of the

obligation can be made.

xxJi E B |vx +Yi x E Vi

b. it is probable that an outflow of resources embodying

economic benefits will be required to settle the
obligation; and

(ii)

No provision is recognized for

B) {U P]x+ =i{z E< i ni + VE

+ii = P]x E x +l x x { x EM
+l E B +xSi P]xB V {hi E E
xjh x *

a)

Any possible obligation that arises from past

events and the existence of which will be confirmed
only by the occurrence or non-occurrence of one
or more uncertain future events not wholly within
the control of the Bank or

) E< ix ni V {U P]x+ =i{z +

= +Yi x E M CE :

b)

Any present obligation that arises from past events

but is not recognized because;

i)

x E +lE vx E
| ni E vx i +{Ii M +l

i.

it is not probable that an outflow of resources

embodying economic benefits will be
required to settle the obligation; or

ii)

ni E E x +xx x E V
Ei *

ii.

a reliable estimate of the amount of obligation

cannot be made.

(iii)

+EE ni+ E xi +i { xvh E Vi

+ ni E E = M E B |vx E Vi
VE B +lE vx E | , =x
+ii +vh {li E UcE V ni E
E x +xx x E V Ei *

(iii) Contingent Liabilities are assessed at regular intervals

and only that part of the obligation for which an outflow of
resources embodying economic benefits is probable,
is provided for, except in the extremely rare
circumstances where no reliable estimate can be made.

(iv)

k h +EE +i E +Yi x E Vi
CE <E {h{ B + E +Yx Ei
V E x E V Ei*

(iv) Contingent Assets are not recognized in the financial

statements as this may result in the recognition of
income that may never be realized.

179

Ei k h {
J ]{{h
1.

NOTES ON ACCOUNT TO CONSOLIDATED

FINANCIAL STATEMENTS

i V E ( E) E nxn E +x{ ={V

il +x{V +O i {{i |vx E M *

1.

Adequate provision has been made by the Bank in respect

of performing and non-performing advances in terms of
Reserve Bank of India (RBI) guidelines.

+i J Vx E |] E x +
vx v E |Mi { B JE z J
x + V |] E 31.03.2014 iE
|E x E n M * J v i +i
vx, {h |, n E< , |vx E
i{h x M*

2.

(i) Reconciliation and clearance of outstanding entries

in Inter Branch adjustments are in progress and
especially initial matching of debit and credit entries
in various heads have been done upto 31.03.2014.
Pending final clearance, the overall impact, if any, on
the accounts, in the opinion of the management will
not be significant.

2. (i)

EU J+ V, +O B x] Ji E v
h E i/Ji E x/vx E E |Mi
{ * =H Ij < {{i |Mi E qxV |vx E
+i E E E J { vx E |, +M
i, iiE x M* ={H Ij {{i |Mi E nJi
B |vx E x E E E Ji { vx E |,
n , i{h x M*
ni z xE xh { S Ex E n
+E i E u E `3203.77 Ec ({U `2496.64
Ec) (+lMi E i) E |vx {{i x M*
(ii)

3.

(ii) At some branches, preparation of details/balancing/

reconciliation of accounts relating to Balances with
Banks and NOSTRO Accounts are in progress. Since
substantial progress has been made in the above
areas, the management is of the view that the impact
of reconciliation, if any, on the accounts of the Bank
will not be material.
3.

The provision for income tax (including deferred tax)

aggregating to `3203.77 Crore (previous year `2496.64
Crore) held is considered adequate after taking into
consideration various judicial decisions on disputed
issues.

4.

(i) Certain premises were revalued on the basis of the

reports of the approved valuers during the year ended
on 31.03.1997, 31.03.2005 and 31.03.2007 and
upward revision amounting to `125.99 Crore
(commercial and residential), `370.08 Crore
(commercial and residential) and `298.32 Crore
(commercial) respectively had been credited to
Revaluation Reserve. Depreciation on Revalued
premises is worked out each year on its written down
value. Additional depreciation of `3.87 Core (previous
year `4.01 Crore) due to revaluation has been
transferred from Revaluation Reserve Account and
shown in Miscellaneous Income under the head Other
Income included in Schedule No. 14 item (vii).

4. (i)

31.03.1997, 31.03.2005 il 31.03.2007 E {i

B Ei{ { E {x Ex +xni EE
E {] E +v { E M + G: `125.99
Ec (hVE B +), `370.08 Ec (hVE
B +) il `298.32 Ec (hVE) E =vM
vx E {xx +Ii E V E M*
|iE {xEi { { E {Ex
+Ji { E Vi * {xEx E Eh
`3.87 Ec (Mi `4.01 Ec) E +iH
E {V +Ii +ii E +xS .14
n (vii) +x + E +iMi v +
n M *

(ii)

V Jb E Mi ={v x , B +I
Jb il x E Mi { xvi E M *

(ii) Depreciation has been charged on composite cost of

Land and Building, where separate cost of land is not
available.

(iii)

V Mi ={v x {]] +v i {]]vi

{ | E {vx Mi +v { +l +Ji
{ E M *
xxJi {k E {VEh E +{SEiB {
E Vx *
B. 1990 + 1998 E nx EEi B x
G: 29 + 10 ] 2 + {k
Jn M< VxE Mi `0.86 Ec *

(iii) Premium on leasehold land has been amortized over

the period of lease, based on cost or written down
value, where original cost is not available.

. E x r xM {]x 1.01BEc
07.09.1917 E E {]] { +]i E l*
{ E E E { * {U {]] 07.09.2012
E {i M* 07.09.2012 30 E +iH
+v i {]] E xEh E B Mix `70.70
J E BEi | Mix u + `7.07 J

b. The Govt.of Bihar had allotted 1.01 acre of land

at Budh Marg Patna on lease to the Bank
w.e.f.07.09.1917. Bank is having its office
complex there. Last lease expired on 07.09.2012.
Payment for renewal of lease for further period
of 30 years w.e.f. 07.09.2012 by payment of one

(iv)

180

(iv) Registration formalities are yet to be completed for

the following properties.
a. Two (2) residential properties purchased during
the year 1990 & 1998 at Kolkata & Bhubaneshwar
consisting of 29 & 10 flats respectively with total
original cost of `0.86Crore.

(v)

E EB E n E E E M*
E u {]] J E x{nx E
|Gvx *

time premium for `70.70 lacs and annual rent @

`7.07 lacs has been made to the Govt. of Bihar.
The matter for execution of lease deed by the
Govt.of Bihar is under process.

. {n{, +b 02.04.2013 24 + ]
17520 M] Ij + {] E {]]
E xEh E {n{ {] ]] E l
=` M + =xE Svx *

c. Renewal of lease of residential plots of land

measuring 17520 sq.ft area at Paradeep, Odisha
having 24 residential flats w.e.f. 02.04.2013 has
been taken up with Paradeep Port Trust (PPT)
and is under their consideration.

+i +i i +x +i E h xxx
:

(v) Other Assets include intangible assets, details of

which are as under.

h /

(` Ec )/(` in Crore)

Particulars

+l / Opening Balance
E nx {vx / Additions during the year
E nx {vi / Amortized during the year
<i / Closing Balance
5. (i)

(ii)

`0.44

Ec (Mi `1..25 Ec) E +Ei E

x E v E E + G{/]E] |{i
Ex *
, {ix bS il <C] Vc S+
b/S E{] b E x] i E {I
+O E x `916.91 Ec (Mi `719.60
Ec) *

5.

k /F.Y. 2013-14

k /F.Y. 2012-13

33.72

33.73

10.19

5.15

9.44

5.16

34.47

33.72

(i) In respect of Investments of face value of `0.44 Crore

(Previous year `1.25 Crore) the Bank is yet to receive
scrips / certificates.
(ii) Total Investments made in shares, convertible
debentures and units of equity linked mutual fund /
venture capital funds and also advances against
shares aggregate to `916.91 Crore (Previous year
`719.60 Crore).

(iii)

i V E E nxn E +x `3.28 Ec
(Mi `31.49 Ec ) E , V E b ] S]
h |ii E G x E x
,E B |ii E +ih E x, E {V |Ii
Ji +ii E M *

(iii) As per RBI guidelines, an amount of `3.28 Crore

(Previous Year `31.49 Crore) being an amount
equivalent to post tax profit on sale of Held to Maturity
category securities net of taxes and net of transfer to
statutory reserve is transferred to Capital Reserve
Account.

(iv)

V E i{h J xi J 6 (vii) =Ji ,

b ] S] h E E nx {vi
|ii E +Ei E >{ `61.37 Ec (Mi
`54.68 Ec) E +iH +Vx Mi il V
x { + P]E ..E E xnx x Ji E x + E +iMi n M
*

(iv) In respect of Held to Maturity category as stated in

significant Accounting Policy No. 6 (vii), the excess of
acquisition cost over the face value of the security
amortised during the year amounts to `61.37 Crore
(Previous year `54.68 Crore) has been netted-off from
interest on investments and shown under Income
from Investments in Profit and Loss Account in terms
of RBI direction.

6.

E x E nx Vx ]bM E B E< k{h x

E + x E +i E |iiEh E *

6.

The Bank has not made any financing for margin trading
during the year and also not securitised any assets.

7.

J xE E +x{x

7.

Compliance with Accounting Standards

E x i xn JE lx u V xxH J
xE (BB) E +x{x E il B J xE E
|vx E +x xxH |E]Eh E V *
7.1. J

xE 5 : +v i x +l x, { E
n il J xi*

The Bank has complied with the following Accounting

Standards (AS) issued by the Institute of Chartered
Accountants of India and the following disclosures are
made in accordance with the provisions of such Accounting
Standards.
7.1. Accounting Standard 5 Net Profit or Loss for the Period,
Prior Period items and Changes in Accounting Policies.

181

{ vi + + E h xxx ;

Income and Expenditure relating to prior period are as under;

(` Ec )/(` in crore)

h /

k /F.Y. 2013-14

Particulars

+/Income
/Expenditure
x/Net

k /F.Y. 2012-13

(0.15)
1.26
(1.41)

(2.09)
0.40
(2.49)

7.2.

E x ES l {x, OS], +E xEnEh,

+ BB E v +{x ni+ E +Yx i
i xn JE lx u V J xE 15
(vi) E +{x *

7.2. The Bank adopted Accounting Standard 15 (Revised)Employee Benefits, issued by Institute of Chartered
Accountants of India, for recognition of its liabilities in
respect of employee benefits, viz, Pension, Gratuity,
Leave Encashment and LFC.

7.3.

xvE/M-xvE ES l, {x (B{<+-1995),
OS], +E xEnEh + BB E v E E
ni E xxx +xni EE u Ex Ex
E +v { +Yi E Vi *

7.3. Banks liabilities in respect of the funded/ non-funded

employee benefits, viz., Pension(ABEPR-1995), Gratuity,
Leave Encashment and LFC Leave are recognised on
the basis of actuarial valuation carried out by approved
Actuary as per

(B) i xn JE lx u V J xE
15(vi) xvi ri +
() i EE lx u V nxn VBx
26*
vi {IE E |E]Eh - J xE (BB) 18
vi {] E S B xnx
vi {] E x, E E l =xE v il EB MB
xnx*

(a) Principles laid down in AS 15 (Revised) issued by the

Institute of Chartered Accountants of India, and

7.4.

(B) J |vx EE
x

{nx

Name

Designation

1
2
3

3
4
5

{v /
Remuneration

Existing Directors as on 31.3.2014

E `

+vI B |v xnE

Shri Rakesh Sethi

Chairman & Managing Director

]. +. S

E{E xnE

Shri T. R. Chawla

Executive Director

V. E. J

E{E xnE

J. K.Singh Kharb

Executive Director

. {. xnE / Ex Directors
1
i B. {x
2

The names of the related parties, their relationship with

the bank and transaction effected-

(` J ) / (` in Lac)

GE

g:tr:r; J;obtl rl=uNfU /

7.4. Related Party Disclosures Accounting Standard (AS)

18 List of Related Parties and Transactions

(a) Key Management Personnel

Sl. No.

31.3.2014 fUtu

(b) Guidelines GN 26 issued by Institutes of Actuaries of

India.

k /F.Y.

k /F.Y.

2013-14

2012-13

0.93

x/NIL

22.25

13.28

2.83

x/NIL

21.35

7.75

8.00

12.07

18.86

10.53

6.50

0.14

6.50

5.04

. {. +vI B |v xnE

Smt. S. Panse

Ex- Chairman & Managing Director

V. {. n+

. {. +vI B |v xnE

Shri J. P. Dua

Ex- Chairman & Managing Director

+h i

. {. E{E xnE

Shri Arun Tiwari

Ex- Executive Director

b. E

. {. E{E xnE

Shri D. Sarkar

Ex- Executive Director

B. +. xE

. {. E{E xnE

Shri M. R. Nayak

Ex- Executive Director

OS] il +E xEnEh vi E xvh O

E{x E +v { E { EE |h u E Vi
il inx = ={H Sx x M *

Expenses towards gratuity and leave encashment are

determined actuarially on an overall basis annually and
accordingly have not been considered in the above information.

182

H =t E{x x { Vx < E{x E l

EB MB xnx xxx *

h /

Transactions with joint venture company Universal Sompo

General Insurance Company Limited are as follows:

k /F.Y.2013-14

Particulars

+Vi + / Income Earned

|nk | / Insurance Premium Paid
() +xM E{x

9.61

8.56

8.40

8.59

(b) Subsidiary

+ E <x . ({h i): E E{x E `15.00

Ec (Mi `15.00 Eb) E S {V E
vi Ei *
() H =t
i) x { Vx <xx E{x .
ii)

(` Ec )/(` in crore)
k /F.Y.2012-13

All Bank Finance Limited (wholly owned): The bank holds

entire share capital of `15.00 Crore (Previous year `15.00
Crore) in the company.
(c) Joint Venture
i) Universal Sompo General Insurance Company
Limited

BB+< (<b) .

ii) ASREC (India) Ltd.

E x { Vx <xx E{x . E `105

Ec ({U `105 Ec) E 30 |ii B
BB+<(<b) E `26.50 Ec ({U
`26.50 Ec) E 27.04 |ii vi Ei *
(b) BB]

The Bank is holding 30% share in Universal Sompo

General Insurance Company Limited amounting to
`105.00 Crore (previous year `105.00 Crore) and 27.04%
share in ASREC (india) Ltd. amounting to `26.50 Crore
(previous year `26.50 Crore).
(d) Associates

<n { Oh E
E =H Ij Oh E E `21.67 Ec ({U
`21.67 Ec) E 35 |ii vi Ei *
vi {IE E v +x |E]Eh < |E *

Allahabad U.P. Gramin Bank

The Bank is holding 35% share in Allahabad U.P. Gramin
Bank amounting to `21.67 Crore (previous year `21.67
Crore).
Other Disclosures pertaining to related parties are as
under:

(` Ec )/(` in Crore)
n/vi {]
Items/Related Party

+xM, BB] B
H ={G

bwF |vx EE
B =xE v

Subsidiary, Associates &

joint ventures

Key Management
Personnel & their
relatives

Total

1604.71

0.04

1604.75

537.19

0.02

537.21

=v/Borrowings
V/Deposits
V E {]/Placement of Deposits
+O/Advances
x/Investments
M xvE |iriB/Non-funded commitments
|nk V/Interest paid
|{i V/Interest received
|vx nB/Management contracts
S M< +i/Assets sold
G-G EB MB +<{/IBPC sold & purchased

183

176.19

176.19

97.72

0.002

97.722

0.17

0.17

900.00

900.00

{]] |E]Eh
B)E E { E / + v+ E B z {]] *
< v xxi |E]Eh E Vi :
i) xxJi |iE +v i xi x E Ex
{SxMi {]] E +iMi xxi {]] Mix E
M :
+{i {]] +v i n E

7.5.

7.5. Lease Disclosure

A) The Bank has various operating leases for office/
residential facilities. Disclosures in this regard are as
under:
i) The total of future minimum lease payments under
non-cancelable operating leases for each of the
following periods:
Rent payable for unexpired lease period

(` Ec )/(` in Crore)
Vn {]] +v / Existing Lease Period

n /
E lli /As on

BE +xvE / Not later than one year

Amount Payable

E lli /As on

31.03.2014
69.54

31.03.2013
49.48

183.74

148.29

40.31

41.74

BE E n il {S +xvE /
Later than one year and not later than five years

{S E n /Later than five years

+{x +xM E v {]] J xE |V x <B
E{x x 01.04.2001 E n E< {]] Ei x E *

In respect of its subsidiary, lease accounting standard is not

applicable since the Company has not sanctioned any lease
after 01.04.2001.

ii)

ix {j E iJ E xi x E Ex ={ {]]
E +iMi |{i EB Vx |ii xxi ={
{]] E Mix E M : x

ii) The total of future minimum sub-lease payments

expected to be received under non-cancelable subleases at the balance sheet date: NIL (Previous
Year: Nil)

iii)

vi +v i B x E h +Yi {]]
Mix :`111.45 Ec ({U `90.49 Ec)

iii) Lease payments recognised in the statement of

profit and loss for the period: `111.45 Crore
(Previous Year: `90.49 Crore)

iv)

vi +v i B x E h +Yi |{i
(+l |{) ={-{]] E Mix :x({U : x)

iv) Sub-lease payments received (or receivable)

recognised in the statement of profit and loss for
the period: NIL (Previous Year: Nil)

) k {]]

B)

E E { k {]] E +iMi E< {k x *

7.6 |i +Vx : J xE (BB) 20

Bank is not having any assets under Financial Lease.

G .

Sl No.

Particulars

1.

7.7. Earning Per Share Accounting Standard (AS) 20

k /F.Y.

(` Ec )/(` in Crore)
k /F.Y.

2013-14

2012-13

23.21

24.24

|i + b<]b +Vx
Basic and Diluted Earning Per Share (`)

7.7.

Financial Lease

+ { E i J - J xE (BB)

7.7. Accounting for Taxes on Income: Accounting

Standard (AS) 22

22

E nx +lMi E i E Vx E { `48.15
Ec (x) ({U `32.92 Ec (x) V) E B
x Ji V J M* ix {j E iJ E lli
+lMi E +i/ni+ E J P]E ix{j E il E
+x xxi :

During the year, an amount of `48.15 Crore (Net) credited

(Previous year `32.92 Crore (Net) credited) to the Profit &
Loss Account by way of adjustment of deferred tax. The major
components of Deferred Tax Assets/ Liabilities as on Balance
Sheet date are as under:

184

(` Ec )/(` in crore)
E |

h /

Particulars

At the beginning
of the Year

attq JMo

Vx Vc/
(P])
Adjustment
Add/(Less)

E +i
At the close
of the Year

d; JMo attq JMo

d; JMo

attq JMo

d; JMo

C. Yr.

Pr. Yr.

C. Yr.

Pr. Yr.

C. Yr.

Pr. Yr.

43.46

10.50

19.70

32.96

63.16

43.46

Nil

9.25

Nil

(9.25)

Nil

Nil

12.50

3.29

5.26

9.21

17.76

12.50

Nil

52.01

Nil

(52.01)

Nil

Nil

55.96

75.05

24.96

(19.09)

80.92

55.96

Nil

Nil

Nil

Nil

Nil

Nil

80.55

80.55

(16.21)

Nil

64.34

80.55

Nil

Nil

88.71

Nil

88.71

Nil

+lMi E +i /Deferred Tax Assets

+E xEnEh i |vx /
Provision for Leave Encashment

U]] i |vx /
Provision for Sick Leave

BB i |vx /Provision for LFC

+x /Others
E /Total
+lMi E niB /Deferred Tax Liabilities
+S +i E /Depreciation of Fixed Assets
x E { vi |ii { ={Si Ei +n V
Interest Accrued but not due on securities held
as Investments

k 2013-14 i v 36(1) (viii)E +iMi

E]i E Eh V +ii
Amount transferred to Special Reserve on account of
deduction under Section 36 (1) (viii) for the year F.Y. 2013-14

k 2012-13 iE v 36(1) (viii)E

+iMi E]i E Eh V +ii
Amount transferred to Special Reserve on account of
deduction under Section 36 (1) (viii) up to F.Y.2012-13*

Nil

Nil

301.71

Nil

301.71

Nil

+x /Others
E /Total
+lMi E niB (x) /

Nil

52.01

0.61

(52.01)

0.61

Nil

80.55

132.56

374.82

(52.01)

455.37

80.55

Deferred Tax Liability (Net)

24.59

57.51

349.86

(32.92)

374.45

24.59

(*n J 12 nJ)

(* Refer Point No. 12)

E BS]B h E x { +lMi E +Yi x Ei

CE E E S < v E< +i x * x
{ +lMi E +Yx { i xn JE lx E
Y E i E S E x < q E i E
P E { Mnx i V CE =tM VMi < {
E< Ex E ziB *

The Bank does not recognise deferred tax on HTM category

of investments as in its opinion, there is no timing difference in
this regard. Pursuant to the opinion of the Expert Advisory
Committee of the Institute of Chartered Accountants of India
on recognition of deferred tax on investments, the bank has
referred the issue to the Indian Banks Association for their
guidance on the matter since there is a difference in treatment
on this subject in the industry.

BB] x i J(BB-23)
xxJi BB] E J xE (BB)23 Ei k
h BB] x i J E +x Ei E
M *

7.8. Accounting for Investment in Associates (AS) 23

7.8.

The following Associate has been consolidated as per the

Accounting Standard (AS)-23 Accounting for investments in
Associates in Consolidated financial statements.

185

l E x

n/x

i i

vi E

Name of the entity

Country/ residence

Relationship

Ownership
Interest

Amount
of Shareholding
(` in Crore)/(`

<n { Oh E

|VE E

Allahabad U.P. Gramin Bank

India

Sponsor Bank

7.9.

H =t x i J(BB) 27

Ec )

35%

21.67

7.9. Accounting for Investment in Joint Ventures (AS) 27

xxJi H =t E J xE (BB)27 Ei
k h H =t x i J E +x
Ei E M *

The following joint venture has been consolidated as per

the Accounting Standard (AS)-27 Accounting for
investments in Joint ventures in Consolidated financial
statements

l E x

n/x

i i

vi E

Name of the entity

Country/ residence

Relationship

Ownership
Interest

Amount
of Shareholding
(` in Crore)/(` Ec )

x { Vx < E..

30%

105.00

27.04%

26.50

H =t

Universal Sompo General

Insurance Company Ltd.

India

Joint Venture

BB+<(<b).

H =t

ASREC(India) Ltd.

India

Joint Venture
7.10.

+xM E{x x i J

7.10.

Accounting for Investment in Subsidiary

l E x

n/x

i i

vi E

Name of the entity

Country/ residence

Relationship

Ownership
Interest

Amount
of Shareholding
(` in Crore)/(` Ec )

+ E <x .

+xM ({h i)

All Bank Finance Limited

India

Subsidiary (wholly owned)

100%

15.00

7.11.

k +i E { E E +i E {{i + {
J xE (BB) 28 <{] + B] |V x
* |vx E =H xE E +x 31.03.2014 E
E E +x +i E< <{] x + =Ci
xE E +x +Yx i E< i{h i x

7.11. A substantial portion of the banks assets comprise of

financial assets to which Accounting Standard (AS) 28
Impairment of Assets is not applicable. In the opinion
of the management, there is no impairment of other
assets of the Bank as at 31.03.2014 to any material
extent requiring recognition in terms of the said standard.

7.12.

|vx, +EE niB + +EE +i E v

J xE (BB)29 E +x |E]Eh

7.12. Disclosure in terms of Accounting Standard (AS) 29 on

Provisions, Contingent Liabilities and Contingent
Assets:

ni+ i |vx E Sx (<i )

Movement of Provision for Liabilities (Closing Balance)

E lli

rJJhK /
Particulars
(B/a)
(/b)
(/c)
(b/d)
(</e)
(B/f)
(V/g)

As on 31.03.2014

YlveY nu;w tJ"tl /Provision toward NPA

rlJuN vh bqgtm nu;w tJ"tl / Provision for Depreciation on Investment
btlfU ytr;gt nu;w tJ"tl /Provision towards Standard Assets
ytgfUh nu;w tJ"tl /Provision towards Income Tax
yt:rd; fUh ytr; / =ug;t /Deferred Tax (Assets) / Liabilities
ylwMkde ttC fUh /Fringe Benefit Tax
yg /Others
Total

186

2123.73

(` Ec )/(` in crore)
E lli
As on 31.03.2013
1010.23

387.40

311.08

840.83

768.38

2830.38

2472.05

361.96

24.59

26.04

26.04

341.68

566.87

6912.02

5175.31

7.13.

M] Sx: J xE (BB)

M B : Jb

17 / Segment Information: Accounting Standard (AS) 17

/ Part A: Business Segments

fUthvtuhux/:tufU
r;Cqr;gtk

]V

Jb
Business
Segments

Corporate/
wholesale
banking

Treasury

rJJhK

attq JMo

Particulars

htsJ/Revenue
vrhKtb/Result
+x]i

(` Ec )/(` in crore)

d; JMo attq JMo

rhxut crfUkd

yg crfUkd
{Sx

fwUt

Retail Banking

Other Banking
Operation

Total

d; JMo attq JMo

d; JMo attq JMo d; JMo attq JMo

d; JMo

C.Y.

P.Y.

C.Y.

P.Y.

C.Y.

P.Y.

C.Y.

P.Y.

C.Y.

P.Y.

5325.34
393.65

5097.30
144.90

9670.11
1274.56

8972.15
1319.16

5132.82
1640.72

4547.53
1651.35

929.22
730.08

409.33
297.29

21057.48
4039.01

19026.31
3412.70

2381.21

1832.53

1657.80
469.37

1580.17
368.31

0.00
1188.43

0.00
1211.86

Unallocated expenses

vrhattl ttC
Operating Profit
ytg fUh / Income taxes

ymt"thK ttC/ntrl
Extraordinary profit/loss
rlJt ttC /Net Profit

0.00

0.00

0.00

0.00

0.00

0.00

0.00

64872.45 59084.00 114558.55 109510.97 39693.59 34526.70

517.66

0.00

yg mqalt:
Other Information:

FkzJth ytr;gtk
Segment assets

445.32 219642.25 203566.99

dih ytckrx; ytr;gtk

Unallocated assets

1309.69

1251.52

fwUt ytr;gtk
Total assets

220951.94 204818.51

FkzJth =ug;tYk
Segment liabilities

61766.55 56145.83 109073.83 104065.12 37793.18 32809.72

277.10

219.61 208910.65 193240.28

dih ytckrx; =ug;tYk

Unallocated liabilities

12041.29

11578.23

fwUt =ug;tYk
Total liabilities

220951.94 204818.51

M : ME Jb

htsJ / Revenue
ytr;gtk / Assets

/ Part B: Geographic Segments

Dhutq

yk;hhtx[eg

Domestic

International

Total

attq JMo

d; JMo

attq JMo

d; JMo

attq JMo

d; JMo

C.Y.

P.Y.

C.Y.

P.Y.

C.Y.

P.Y.

20848.80

18826.98

208.68

199.33

21057.48

19026.31

211563.71

197200.19

9388.23

7618.32

220951.94

204818.51

Jb Sx { ]{{h
z

(` Ec )/(` in crore)
fwUt

Notes to Segment Information

Ei Jb {]M +xM E{x, BE M-EM l E

E + E { x M *

i xn JE lx u V J xE BB17
+ = { E nxn E +x{ M] {]M E

187

The business of the subsidiary company, a non-banking

entity has been considered as residual business in
consolidated segment reporting.
For the purpose of segment reporting in terms of AS 17
issued by the Institute of Chartered Accountants of India

8.

|Vx E E E S Jb MEi E M
+li
o ]V {Sx
o E{]/lE EM
o ] EM
o +x EM
ME Jb E (E) P + (J)+i] Jb MEi
E M *
vE +{I+ +vE BB+ |ii x +
M BB+ |ii x E ] V {Sx x
x M *
E Jb v Vb , +i + ni+ E
vi Jb E +]i E Vi + V E< n v
Jb E |ii x Ei =x |vi E +x{i
+]i E M *
+EE niB

and RBI guidelines thereon, the business of the bank

has been classified into four segments, viz.
o
o
o
o
z

Geographical segment has been classified as (a)

Domestic and (b) International.

Investment in SLR securities in excess of statutory

requirements and investment in non-SLR securities have
been considered as investment for Treasury Operations.

Expenses, assets and liabilities directly attributed to

particular segment are allocated to the relative segment
and wherever the items are not directly attributable to
specific segment the same has been allocated in
proportion to business managed.

8.

Contingent Liabilities
Such liabilities as mentioned at Sl. No.(I) to (VI) in
schedule 12 of Consolidated Balance Sheet are
dependent upon the outcome of court / arbitration / out of
court settlement, disposal of appeals, the amount being
called up, terms of contractual obligations, devolvement
and raising of demand by concerned parties respectively.
Additional comments in respect of contingent liabilities
of AllBank Finance Limited are as follows:

ix {j E +xS 12 E G J (I) (VI) l=Ji

B niB G: x/+]x/x E x{]x
E {h, +{ E x{]x, M E M< , nMi
vi+ E i, P]xG + vi {IE u E M<
M { x * +E <x . E +EE ni+
vi +iH ]{{h xxx :
z

z +{ |vEh E I i E v
ni +E V E{x E `1.41 Ec ({U
`1.23 Ec ) E E |{i x E x *
31.03.2014 E lli `10.61 Ec ({U
`10.34 Ec) E +O E, i { E] MB E
+ |{ +E b E { n< M< *
Exvh + +{ E z Sh Vx i
i *

E{x E r @h E { +Ei x EB MB n:
`1.22 Ec ({U x)
+ E <x . E v xx x E
+nx, . .. n< u 13.05.1992 E + E
<x . E { MB E E E {I {k
E {h +ih x M* inx, E {nM E
iJ E E x M + =E n =x
{ Pi i ={S + +vE { <E E *
={H +n E {h{ E +Vx E nPv
x x M*

9.

10.

11.

12.

{VMi Ji { x{nx i n E +xxi

VE |vx x E M (x +O) `61.05 Ec
(Mi `87.00 Ec) *
+x{V +i E +iMi vi |vx E Ij E+{
E E +O +xxi +v { P] n M iE
ix{j E +xS 9 lH x +O E xE
E*
i V E E +vSx J b+b . {..77/
21.04.018/2013-14 nxE 20.12.2013 E +x E x
Vi EB MB V (+E +vx, 1961 E v
31(1)(viii) E +iMi) E Eh E x k 2013-14

Treasury Operations,
Corporate / Wholesale Banking
Retail Banking
Other Banking business

Disputed Income Tax in respect of matters pending

before various appellate authorities where the
Company expects to succeed amounts to `1.41 Crore
(Previous Year `1.23 Crore). As on 31.03.2014,
`10.61 Crore (Previous Year `10.34 Crore) have been
shown as advance income tax, tax deducted at
source, and income tax refund receivable. This
amount is pending adjustment at various stages of
assessment and appeal.

Claims against the Company not acknowledged as

Debts : `1.22 Crore (Previous Year : NIL)

9.

In respect of AllBank Finance Limited, as per the order of

Honble Special court, the delivery of shares on
13.05.1992 by M/s V. B Desai to AllBank Finance Ltd.,
constituted complete transfer of property in the shares in
favour of the Bank. Accordingly, the Bank became the
owner of the shares from the date of delivery of the shares
and was entitled to all accretions and rights declared
thereafter. Pursuant to the above-mentioned order, the
acquisition of the shares has been considered as long
term investment.
10. Estimated amount of contracts remaining to be executed
on capital account and not provided for (Net of Advance)
`61.05 Crore (Previous Year `87.00 Crore).
11. Sector wise break up of provision held under nonperforming advances is deducted on estimated basis from
gross advances to arrive at the balance of net advances
as stated in the Schedule 9 of the Balance Sheet.
12. In accordance with Reserve Bank of India Notification
No. DBOD No. BP.BC.77/21.04.018/2013-14 dated
20.12.2013, the Bank has provided Deferred Tax Liability
(DTL) of `88.71 Crore on account of Special Reserve

188

13.

14.

i Vi V E Eh `88.71 Ec E +lMi
E ni E |vx -x J E v E *
<E +iH 31.03.2013 iE E +v i `301.71
Ec E +lMi E ni (b]B) E |vx v x
V E *

created under section 36(1)(viii) of the Income Tax Act,

1961 for the financial year 2013-14 through Profit & Loss
Account. Further, in terms of aforesaid notification
Deferred Tax Liability (DTL) of `301.71 Crore for Special
Reserve created up to 31.03.2013, has been made
directly from Revenue Reserve.

xxi E{E E(BB]) V E +i E { `192.43

Ec E iE +E +vx 1961 E v 115VBB
E +iMi ] Gb] Bx]<]] E { +Yi E M
*
i V E x +{x {j J b+b {.17.109/
21.01.132/2013-14 nxE 11.04.2014 E +x 31
S 2013 iE Vi xvE V n @h (B+<]B)
i v ni (V {VEh) Ji V Jx E
+xi n * inx, 31.03.2013 iE E B+<]B
Ji E v `687.72 Ec E v niB (V
{VEh) v V +Ii Vi E M< * <E
+iH k 2013-14 E S +v i `182.84Ec
E B+<]B i x J |i E M< *

13. Minimum Alternate Tax (MAT) Credit has been recognised

as an asset to the extent of `192.43 Crore as MAT Credit
Entitlement under section 115JAA of the Income Tax Act,
1961.

15. `0.74

14. The Reserve Bank of India vide their letter

No. DBOD.No.BP.17109/21.04.132/2013-14 dated
11.04.2014, has permitted to credit Sundry Liabilities
(Interest Capitalisation) account for the Funded Interest
Term Loan (FITL) created upto 31st March13 directly from
Reserve. Accordingly, Sundry Liabilities (Interest
Capitalisation) amounting to `687.72 Crore on account
of FITL upto 31.03.2013 has been created directly from
Revenue Reserve. Further, an amount of `182.84 Crore
has been charged to Profit & Loss account for the FITL
for the current period F.Y. 2013-14.

Ec, E 103 V |] VxE BE B

b 2500.00 E + V 1 +| 1996 31 S
2002 E S { E M< l + J Cb
BE=]-x] BE=] EBx Jc l E 11 <
2009 E {{j b+b.{...133/21.04.018/
2008-09 E +x -x J V E M* x J V E M< E +Ii xVi E
M + E Ph E B ={v x M*
n < E x J V x E M i
i E <ix E Vi*

15. An amount of `0.74 Crore comprising of 103 credit entries

of individual value of less than USD2500.00 which
originated between the period from 1st April 1996 to 31st
March 2002, and were held in Blocked Account-Nostro
Accounts Reconciliation at the branch were credited to
Profit & Loss account in terms of RBI circular
DBOD.BP.BC.No.133/21.04.018/2008-09 dated 11 th
May,2009.The amount credited to Profit & Loss account
was appropriated to the Reserve and shall not be
available for declaration of dividend. Had this amount not
been credited to Profit & Loss account, the amount of
profit for the year would have been lower by such amount.

16.

E x `10 ({B n j) E +Ei 4,45,83,147

(S Ec {i J i V BE i)
<C] |i `79.72 ({B =x B { k
j) E | { i E (i E ]{i) +vx
+v { `399,99,99,948.84 ({B ix xxx Ec
xxx J xxx V x +ci B { S
j) E E |i { 24.12.2013 E +]i EB *
inx, <{B E Mhx i xn JE lx
u V BB-20 l xn] <C] E i
+i J { E M< *

16. The Bank has allotted 4,45,83,147( Four Crore Forty Five
Lac Eighty Three Thousand One Hundred and Forty
Seven) equity shares of face value of `10.00 (Rupees
Ten only) at a premium of `79.72 (Rupees Seventy Nine
and Paisa Seventy Two only) per equity share to Govt.
Of India (President of India) on preferential basis on
24.12.2013 for a total consideration of `399,99,99,948.84
(Rupees Three Hundred Ninety Nine Crore Ninety Nine
Lac Ninety Nine Thousand Nine Hundred Forty Eight and
Paisa Eighty Four only). Accordingly the EPS has been
calculated on weighted average number of equity shares
as specified in AS-20 issued by the Institute of Chartered
Accountants of India.

17.

E E xnE b x nxE 11 Vx 2014 E < +{x

`E `2.50 |i <C] +li |nk {V E 25%
E n +i E Ph E V i E
+E +xi/+xnx |{i x E +vvx * i E
x nxE 15 Vx 2014 E +{x +vSx J B.10/
3/2010-+B E ii +vSi E E EM
xx +vx 1949 E v 15(1) E |vx k
2013-14 i VxE Ij E E { M x M*
Mix E il 30 Vx 2014 l*

17. The Board of Directors of the Bank in its meeting dated

11th January, 2014 declared an interim dividend of `2.50
per equity share i.e. @ 25% of the paid up capital of the
Bank subject to necessary permission/approval from the
Government of India. The Government of India vide its
Notification No.F No. 10/3/2010-BOA dated 15th January,
2014 notified that the provisions of Section 15(1) of the
Banking Regulation Act, 1949 shall not apply to Public
Sector Banks for the Financial Year 2013-14. The
Dividend payment date was 30th January, 2014.

<E +iH E E xnE b x k 2013-14 i

E +i E ii x E *

Further, the Board of Directors of the Bank have not

recommended any final dividend for the financial year
2013-14.

189

18. +{vi {x + OS] ni

B. k 2010-2011 E nx <n E (ES)
{x x 1995 E ii ES i {x v
E{ E {x: Ex B OS] E Mix +vx,
1972 E ii OS] + gk Ex { E x
{x i `708.07 Ec + OS] i `39.63 Ec
E E +iH E c ni +n E ,
V i V E E nxE 09 , 2011 E
{{j b+b J {.. 80/21.04.018/201011 E +x {vi E M * =H {{j E
|vx E +x, {vi JS E {S M (1/5th)
E +h |iE E Vx SB + inx,
k 2014-15 i +{vi JS E {
`598.34 Ec (+li {x i `566.41 Ec +
OS] i `31.93 Ec), +Oxi Ei B k
2010-11, 2011-12, 2012-13 + 2013-14
+ x J `149.36 Ec (+li {x i `141.66
Eb + OS] i `7.70) E {vi E M*
i V E E =H xn E +xh Ei B
E x S k E nx + x J
`149.60 Ec (+li {x i `141.60 Ec +
OS] i `8.00 Ec G:) E E |i E *
. 01.04.2010 E +l E n E Vcx
ES i {i +nx xk i Vx
E Exx , E x {B+bB E xE +
| xjh E +iMi Bx{B E E{] b i
] {x |h +{x + E xxq] ES
i xH-ES v E {v E +iMi i E{]
Bx{B + V E +| 2012
{Si E M *

18. Unamortised Pension and Gratuity Liabilities

A. On re-opening of Pension option to employees under
Allahabad Bank (Employees) Pension Regulations
1995 and enhancement in Gratuity limits under the
Payment of Gratuity Act,1972 during the financial year
2010-2011, the Bank had incurred huge liability
towards additional load amounting to `708.07 Crore
for Pension and `39.63 Crore for Gratuity, which were
amortised in terms of Reserve Bank of India circular
DBOD No.BP.BC.80/21.04.018/2010-11 dated 9th
February, 2011. As per the provisions of the said
circular, 1/5th of the amortised expenses is to be
absorbed each year and accordingly, `598.34 Crore
(i.e.`566.41 Crore for Pension and `31.93 Crore for
Gratuity) has been charged to the Profit and Loss
Account in F.Y. 2010-11, 2011-12, 2012-13 & 201314, carrying forward an amount of `149.36 Crore (i.e.
`141.66 Crore for Pension and `7.70 Crore for
Gratuity) as unamortized expenses for F.Y. 2014-15.
Following the said directive of the Reserve Bank of
India, during the current financial year the Bank has
charged a sum of `149.60 Crore (i.e. `141.60 Crore
for Pension and `8.00 Crore for Gratuity) to the Profit
and Loss Account.
B. In implementation of the Defined Contribution
Retirement Benefit Scheme for the employees joining
service of the Bank on or after 01.04.2010, the Bank
has adopted National Pension System for Corporate
Model of NPS under the regulatory and administrative
control of PFRDA and has joined NPS as Corporate
under the purview of employer-employee relationship
for these underlying employees, which has been
operationalised in our Bank since April,2012.

. ix vx i |vx : ES E ix vx
(10 u{I Zi) V x 2012 n E
Eh E { {cx i i E x S
k E n x `282 Ec E |vx E *({U
`100 Ec)* < |E 31 S 2014 E lli
ix vx i E `382 Ec E |vx E M
* i E P E Mn x]/+vi Vx+
E xvx i E E xi E l l <
i W E E nxn E +x{x E x
< k E nx 10 u{I Zi E Eh
{cx i E |vx E v E I E
* < v i E P E Mn x] E Ji
+x{x E =q +vi Vx+(l {x,OS]
+ +E xEnEh) E v xvx E E
+xx E E +xni EE u EB MB EE
x E +v { M M + inx `382
Ec E E |vx E {x: +]i E M (1)
ix E `178 Ec (2) {x `145 Ec (3)
OS] `41.00 Ec (4) +E xEnEh `18.00
Ec*

C. Provision on account of Wage revision: To meet the

probable load on the Bank on account of wage
revision of employees (10th bipartite settlement) which
is due from November 2012, the Bank has made a
provision of `282.00 Crore during the current financial
year (previous year `100.00 Crore).As such total
Provision on account of wage revision as on 31st
March 2014 stands at `382.00 Crore. Keeping in
line with the IBAs Guidance Note/ Banks Policy on
Funding Superannuation Schemes as also in
compliance of RBI directive in the matter, the Bank
reviewed the model of provisioning in respect of the
probable load on account of 10th Bipartite Settlement,
during this fiscal. With the object to achieve strict
compliance of the IBAs Guidance Note in this regard,
the probable funding load on Superannuation
Schemes (viz. Pension, Gratuity and Leave
Encashment) have been estimated on the basis of
actuarial valuation conducted by Banks approved
Actuary and accordingly, aggregate provision of
`382.00 Crore has been relocated as (1) Arrear
Salary `178.00 Crore; (2) Pension `145.00 Crore;(3)
Gratuity `41.00 Crore and (4) Leave Encashment
`18.00 Crore.

V +E Z M Mi E +Ec E
{x:i {x:MEi E M *

Figures of previous year have been regrouped or

reclassified wherever considered necessary.

190


xnE b
<n E

ij J{IE E {]

Ei k h v {]
1. x 31, S 2014 E lli <n E, <E +xM E{x, BB] + n H =t() E Ei k
h E J{I E V 31 S, 2014 E lli Ei ix{j, = E {i +v i Ei -x Ji
il Ei xEn | h B i{h J xi E il +x JiE Sx ] * <x k h
u J{Ii E E J{Ii J, BE +xM, BE BB], BE H =t E J{Ii J + BE H =t E
+J{Ii J ] *
x xxJi k h E J{I x E :
i.
BE +xM VE k h J{Ii + 31 S, 2014 E lli `62.33 Ec E E +i ni + =
il E {i i `5.54 Ec E E V ni *
ii. BE BB] +li <n { Oh E(++) VE k h J{Ii + 31 S, 2014 E lli
`8892.33 Ec E E +i ni + = il E {i i `717.52 Ec E E V ni *
<x k h E J{I +x J{IE u E M< VE {] |ii E M< + ={H +xM
B BB] E v {hi vi J{IE E {] { +vi *
iii. BE H =t V BE +i {xM` x E{x + VE k h +J{Ii + 31 S, 2014 E lli E
+i `171.31 Ec + = il E {i i E V `20.34 Ec *
iv. BE H =t E{x V BE E{x + VE k h +J{Ii + 31 S, 2014 E lli `1155.55
Ec E E +i ni + = il E {i i `485.93 Ec E E V ni *
Ei k h i |vx E ni
2. i xn JE lx u V J xE 21 Ei k h B J xE 23 Ei k h
BB] x E J il JxE 27 H =t i E k {]M B i V E E +{I+ E +x
<x k h E i Ex E ni |vx E * < ni Ei k h E i i |ME +iE xjh
E i Ex, Exx Ex + =E JJ Ex V i{h l h, vJvc +l SE E Eh, H
*
J{IE E ni
3. ni J{I { +vi <x Ei k h { +{x nx * x +{x J{I i xn
JE lx u V xE J{I E +x E * =x xE +{Ii E xi{E +{I+ E +x{x E
+ Vx x E J{I E x{ni E V Si +x |{i E C Ei k h i{h l h
H *
4. E J{I E J{I I |{i Ex E |G x{ni E Vi + B Ei k h
|E]Eh E Vi * Sx Vx |G J{IE E xh { vi i V Ei k h i{h l
h E VJ E xvh, E{] +l SE E Eh, i * <x VJ E xvh Ex J{IE E E i +
Ei J{I h E =Si |iiEh vi |ME +iE xjh E vx Ji + {li E +x{ =Si
J{I |G xvi Ei x E l E +iE xjh E EMi E +{x H Ei * J{I |M
< M< J xi E ={Hi B |vx u EB MB J |CEx E Sii E l l Ei k h E Oi:
|iiEh E Ex i *
5. E u |{i J{I I J{I |nx Ex i {{i B Si *
+i
6. , V E E <E +xM, BB] B n H =t () E |ni i , B k VxE
il nB MB {]Eh E +x:
i.

Ei ix{j, = nB MB x] E l {`i, BE {h B =Si Ei ix{j V +E h nB MB <

=Si { i E M , V <n E, <E +xM, BB] + n H =t E E E 31 S
2014 E lli + =Si li |E] + xi: i Ei J ri E +x{ *
191

INDEPENDENT AUDITORS REPORT

To
The Board of Directors
Allahabad Bank
Report on the Consolidated Financial Statements
1. We have audited the accompanying consolidated financial statements of Allahabad Bank, its subsidiary, associate and two
joint ventures (group) as at 31st March, 2014, which comprise the Consolidated Balance Sheet as at March 31, 2014, and
Consolidated Profit and Loss Account and the Consolidated Cash Flow Statement for the year then ended, and a summary of
significant accounting policies and other explanatory information. Incorporated in these financial statements are the audited
accounts of bank audited by us, audited accounts of one subsidiary, one associate, and unaudited accounts of two joint
ventures.
We did not audit the financial statements of:
i.
One subsidiary, whose financial statements are audited reflect total assets of ` 62.33 Crores as at 31st March 2014 and
total revenues of ` 5.54 Crores for the year ended on that date.
ii.

One associate i.e. Allahabad U.P. Gramin Bank (RRB) whose financial statements are audited reflect total assets of
` 8892.33 crore as at 31st March 2014 and total revenues of ` 717.52 Crore for the year ended on that date.
These financial statements have been audited by other auditors whose reports have been furnished to us, and our
opinion, in so far as it relates to the amounts included in respect of the above subsidiary and associate, is based solely
on the reports of the respective auditors.

iii.

The financial statements of one joint venture which is an asset reconstruction company, whose financial statements are
unaudited and reflect the total assets of ` 171.31 Crore as at 31st March 2014 and total revenue of ` 20.34 Crore as on
that date.

iv.

The financial statements of one Joint Venture Company, which is an insurance company is unaudited, whose total asset
is ` 1155.55 Crores as at 31st March 2014 and revenue of ` 485.93 Crores for the year ended on that date.

Managements Responsibility for the Consolidated Financial Statements

2.

Management is responsible for the preparation of these financial statements in accordance with the requirements of
Accounting Standard 21 Consolidated Financial Statements and Accounting Standard 23 Accounting for Investment in
Associates in Consolidated Financial Statements, and Accounting Standard 27 Financial Reporting of Interest in Joint
Ventures issued by the Institute of Chartered Accountants of India and the requirements of Reserve Bank of India. This
responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the
consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditors Responsibility
3. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted
our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those
Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
about whether the consolidated financial statements are free from material misstatement.
4.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated
financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of
material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Banks preparation and fair presentation of the
consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for
the purpose of expressing an opinion on the effectiveness of entitys internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management,
as well as evaluating the overall presentation of the consolidated financial statements.

5.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.

Opinion
6. In our opinion, as shown by books of bank, its subsidiary, associate and two joint ventures (group) and to the best of our
information and according to the explanations given to us:
i. the consolidated Balance Sheet, read with the notes thereon is a full and fair consolidated Balance Sheet containing
all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the group
comprising of Allahabad Bank, its subsidiary, associate and two joint ventures as at 31st March 2014 in conformity with
accounting principles generally accepted in India;

192

Ei x Ji, = nB MB x] E l {`i, xi: i Ei J ri E +x{ vi E E

ni *
iii. Ei xEn | h = il E {i i xEn | E + =Si li ni *
ii.

i{h i
7. n EB x, Ei k h E J ]{{h E + vx +Ei Ei
B. { . 12 V i V E E {{j J b+b . {..77/21.04.018/2013-14 nxE 20 n 2013 E
+xh 31S 2013 E lli +E +vx 1961 E v 36(1)(viii) E +iMi +Ii +lMi E
ni+ E Vx v E J x{h E h ni *
. { . 14 V i V E E nxE 14 +| 2013 E {j E ii i V E u +xi EB MB {U +v E
B+<]B E Eh v ni (V {VEh) E v J x{h v h ={v Ei *
. { . 18 V VxE Ij E E E ES i {x E{ Jx E nxE 9 2011 E E {{j .
B+b {../80/21.04.018/2010-11 E ii i V E u BB-15(ES ) E |vx E VxE
Ij E E { M EB Vx U] nx E {h { `149.36 Ec E iE < r E Eh {x ni + OS]
ni E +lMx E h ni *
+x vE B xE +{I+ v {]
8. Ei ix {j B Ei x Ji i xn JE lx u V J xE 21 Ei k h B
J xE 23 Ei k h BB] x E J il J xE 27 H =t i E k {]M
B i V E E +{I+ E +x i EB MB *
9. ={H {O 1 5 =Ji J{I E + E +v { B EE E{x (={G E +Vx B +ih) +vx,
1970 u l +{Ii il = |E] + E +vx;
{] Ei E:
(B) x SxB B {]Eh |{i EB V k VxE B E +x J{I E |Vxl +E
l il x =x iVxE { *
() VxE +B <n E, <E +xM E{x, + n H =t() E xnx = E +vE E +iMi
Vx <n E, <E +xM E{x, + n H =t() *
() <n E, <E +xM E{x, + n H =t() |{i h J{I E B {{i {< M< *
10. J{I i Ei ix{j, -x J + xEn | h |V J xE E +x{ *
Ei . Bx.E. M Bb E.
xn JE

Ei . P xl Bb E.
xn JE

Ei . Jb EEx Bb E.
xn JE

(Bx.E. M)
{]x
ni . - 080624
B+ . - 000429N

(i |E)
{]x
ni . - 096267
B+ . - 000451N

(i nJ)
{]x
ni . - 071011
B.+. . - 01311C

Ei . ] B { i.
xn JE

Ei . l Bb BB]
xn JE

(x ME)
{]x
ni . - 30615
B. +. . - 101048W

(+ I )
{]x
ni . - 021755
B+ . - 05120S

lx : EEi
nxE : 07.05.2014

193

ii.

the consolidated Profit and Loss Account, read with the notes thereon shows a true balance of profit, in conformity
with accounting principles generally accepted in India, for the year covered by the account; and

iii. the consolidated Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.
Emphasis of Matter
7.

Without qualifying our opinion, we draw attention to Note to accounts of the consolidated financial statements,
a.

Para no.12, which describes the accounting treatment of the expenditure on creation of Deferred Tax Liability on
Special Reserve under Section 36(1) (viii) of the Income Tax Act, 1961 as at March 31, 2013, pursuant to RBIs
Circular No. DBOD. No. BP. BC.77 / 21.04.018 / 2013-14 dated December 20, 2013.

b.

Para no.14, which provide details with regard to the accounting treatment on creation of Sundry Liability (Interest
Capitalization) on account of past period FITL as permitted by Reserve Bank of India vide their letter dated April 11,
2014.

c.

Para no.18, which describes deferment of pension liability and gratuity liability due to increase in ceiling to the extent
of `149.36 crores pursuant to the exemption granted by the Reserve Bank of India to the Public Sector Banks from
application of provisions of AS-15(Employees benefit) vide its circular no DBOD.BP.BC/80/21.04.018/2010-11 dated
February 9, 2011on reopening of pension option to employees of Public Sector Banks.

Report on Other Legal and Regulatory Requirements

8.

The consolidated Balance Sheet and the consolidated Profit and Loss Account have been drawn up in accordance with the
requirements of Accounting Standard 21 Consolidated Financial Statements and Accounting Standard 23 Accounting for
Investment in Associates in Consolidated Financial Statements, and Accounting Standard 27 Financial Reporting of
Interest in Joint Ventures issued by the Institute of Chartered Accountants of India and the requirements of the Reserve
Bank of India.

9.

Subject to the limitations of the audit indicated in paragraph 1 to 5 above and as required by the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970, and subject also to the limitations of disclosure required therein,

We report that:
a.

We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary
for the purposes of our audit and have found them to be satisfactory.

b.

The transactions of Allahabad Bank, its subsidiary, associate and two joint ventures (group), which have come to our
notice, have been within the powers of the group comprising of Allahabad Bank, its subsidiary, associate and two joint
ventures.

c.

The returns received from Allahabad Bank, its subsidiary, associate and two joint ventures (group) have been found
adequate for the purposes of our audit.

10. In our opinion, the Consolidated Balance Sheet, Consolidated Profit and Loss Account and Consolidated Cash Flow
Statement comply with the applicable accounting standards.
For M/s N.K. Bhargava & Co.
Chartered Accountants

For M/s Raghu Nath Rai & Co.

Chartered Accountants

For M/s Khandelwal Kakani & Co.

Chartered Accountants

(N.K. Bhargava)
Partner
Membership No.080624
Firm Regn. No 000429N

(Sharat Prakash)
Partner
Membership No.096267
Firm Regn. No. 000451N

(Santosh Deshmukh)
Partner
Membership No.071011
Firm Regn. No. 01311C

For M/s Batliboi & Purohit

Chartered Accountants

For M/s Sarath & Associates

Chartered Accountants

(Raman Hangekar)
Partner
Membership No.30615
Firm Regn. No.101048W

(R. Lakshmi Rao)

Partner
Membership No.029081
Firm Regn. No.05120S

Place: Kolkata
Date: 07.05.2014

194

+E <xx .
AllBank Finance Ltd.

xnE E {]
31 S, 2014 E {i k i E{x E J{Ii
k h i E {] |ii Ei B xnE E
|zi *
k {h
Ivx E nx E{x x {U +Vi `362.58 J
E E {Si E {I `369.84 J E E {Si
+Vi E * k {h E xxx :

DIRECTORS REPORT
The Directors have pleasure in presenting the Annual Report
together with audited financial statements of the Company for
the year ended 31st March, 2014.
FINANCIAL RESULTS
During the year under review, your company earned profit after
tax of `369.84 lacs as against `362.58 lacs in the previous
year. The summary of the financial results is as follows:

(+Eb ` )/(Fig. in `)
{Sx E V /Gross Revenue from operations
|vx V + +{Ii x/Provision no longer required
E +/Total Income
EE B |xE /Personnel & Administration Expenses
+{Ji +v @h/Bad Debts written off
E /Total Expenses
E { /Profit Before tax (PBT)
E i |vx/Provision for tax
+ E Vx(Mi )/Income Tax Adjustment (Previous Years)
E {Si /Profit after tax

31 S, 2014 E {i i xnE x E E
x E*
{Sx
+ll E MEx :

31-03-2014

31-03-2013

5,54,31,170
5,54,31,170
1,03,50,700
1,10,300
1,04,61,000
4,49,70,170
77,69,000
2,17,352
3,69,83,818

4,80,79,349
3,24,18,234
8,04,97,583
91,83,098
3,22,35,734
4,14,18,832
3,90,78,751
28,21,214
3,62,57,537

DIVIDEND
Directors do not recommend any dividend for the year ended
31st March, 2014.
OPERATIONS
Overview of the Economy:

Exp JE E( B+) u V +O +xx E

+x, 2013-14 i +ll 4.9 |ii E n
r nV Ex ( Vb{ E +x P]E Mi { l
Ei {)* r 2004-05 2013-14 E nx E 7.6
|ii E nE +i E ix i E *

As per the Advance Estimates released by theCentral Statistics

Office (CSO), the Indian economy is estimated to register a
growth rate of 4.9 per cent in 2013-14 (in terms of GDP at
factor cost at constant prices). This growth is significantly lower
in comparison to the decadal average of 7.6 per cent during
2004-05 to 2013-14.

i V E E ] +lE B pE E 2014-15 E
+x, 2010-11 E Sl i i +ll E r
9.6 |ii E M< l* 2012-13 E i i
2013-14 E { i iE ix i i MM 4.4
|ii E +{ l* =E n 2013-14 E n i
+ i i E nx xj E r nV Ei B r E
+ G: 4.8 + 4.7 nJx M * il{, E i
Ih + =x E {] Ei +x + E , t{ 201415 E nx +ll { =x E B i i
|ii i *

As per the Reserve Bank of Indias Macroeconomic and

Monetary Developments 2014-15, growth in the Indian
economy had been shifting down from 9.6 per cent in Q4 of
2010-11. It troughed around 4.4 per cent for three quarters
from Q3 of 2012-13 to Q1 of 2013-14. Since then there are
signs of growth bottoming out with marginal improvement
recorded during Q2 and Q3 of 2013-14 to 4.8 and 4.7 per cent
respectively. However, this improvement has been feeble and
clear signs of recovery are yet to emerge, even as the economy
seems to be gearing for a modest recovery during 2014-15.

+|-Vx 2013-14 E nx +tME =i{nx E SEE

(+<+<{) {U E i +v 1.0 |ii E r
E ix E< r x < * n E nx E < E E
Miv E Eh x + ={M M E M<* <E
{h{, ix {VMi + ]E> ={H
i+ E =i{nx E + M< * i vi+, vi xi
=i{n, x il ={Eh, ] x, Jt =i{n, ix,
+h + S ={Eh E =i{nx M] +<* |J

The Index of Industrial Production (IIP) showed no increase

during April-January 2013-14, compared with 1.0 per cent
growth in the corresponding period of the previous year. This
stagnation in growth over two years reflects subdued
investment and consumption demand. This has resulted in
contraction in production of capital goods and consumer
durables in the current year. Output of basic metals, fabricated
metal products, machinery and equipment, motor vehicles,
food products, gems and jewellery and communication

195

+E <xx .
AllBank Finance Ltd.

=tM E r, V +tME Ij i J x] ={v Ei

, BE { E i +v E 6.9 E r E ix +|Vx 2013-14 E nx xn E 2.4 |ii { * +i:,
< n E Eh |EiE M + ESS i E =i{nx E E
l-l V E UcE +x SxMi =tM r
v M< *

equipment recorded a decline. Growth of core industries, which

provide key inputs to the industrial sector, remained sluggish
at 2.4 per cent during April-January 2013-14 compared to a
growth of 6.9 per in the corresponding period a year ago. This
sluggishness, in part, reflects contraction in natural gas and
crude oil production and slow growth in all other infrastructure
industries, except electricity.

ixiE iE E {Si, Eb 2014 E +i x

2014 =Gx r E i x E Eh lc E B
E k V E n E +x E* n
< |E E Ph E +iH, b u Vx 2014 10
x B b E Ex E Ph E V +vE
<Bb< k +xSiB {< M<* B b x {x:
xh E E +| 2014 +{x +i E G 10 x
B b MB VB il < { xiMi n gi
SG E +i E Ei n V B b |{i x
+ E +<* ix { , E E n x xB
+ E i E Si <C] E x E +vx E{
x n *

Following a period of relative calm, the start of calendar year

2014 witnessed a brief spell of moderate global financial market
stress due to the escalation of conflict in Ukraine in February
2014. The announcement by the Fed of tapering by US$10
billion in January 2014 over and above a similar announcement
in December witnessed renewed financial volatilities in most
EMDEs. The US Fed again decided to taper its asset purchases
by US$ 10 billion beginning April 2014 and signalled an earlierthan-expected start of the policy rate hike cycle, leading to
bond yields hardening in the US. In the current environment,
equities have become the preferred investment choice, as the
low global rates have promoted a renewed search for yields.

i +i +v E ={M Ei B |ivE xi EE
2014 M] E +Pi E x Ex + iE +{x EI
i +M * @h M] B+<+< E x x E
5.8 x B b ( S 27 iE) E l + iE 2014
E @h | + * E {i , <C] E +Mx
r <* S E nx <C] M] x B+<+<
x + iE 3.2 B b M V 2014 E
3.6 x b (S 27 iE) M<*

India was able to withstand the bouts of spillovers much better

than its peers in 2014 so far, having utilised the interim period
to build buffers. Large debt inflows have occurred in 2014 so
far with FII net investments in debt segment aggregating
US$5.8 billion (till March 27). In recent weeks, equity flows
have also picked up. Net FII investments in the equity segment
aggregated US$3.2 billion during March so far, taking the total
in 2014 so far to US$3.6 billion (till March 27).

l< Sx {h + xx { P] E +Ec i f
EiE Ei, E pi, nS E x E EiE
{ +i V] Ei{ Ij E |ix E |i+ il
E {] E M< Bb <C] V iV E n +
V 2013-14 E Sl i E nx B< C il
BxB< |iE MM 6 |ii E r nV E M<* il{,
|lE {V V n V *

Driven by expectations of a stable electoral outcome and a

multitude of positives, including lower trade deficit numbers,
lower inflation, an enthusiastic response to the telecom auction,
incentives to certain sectors in the interim budget and a lower
reported CAD, equity markets witnessed a modest rally with
the BSE Sensex and NSE recording increases of about 6 per
cent each during Q4 of 2013-14. However, primary capital
markets continue to remain subdued.

E Ih E +x, VM Vx E 8 i{h Ij
Vx Vx, 2012 x |Mi l =x {U
i E ix V<, i 2013 EU v nJ*
M`i Ij VM E xV +Ec E i 2013-14 E
n i EU iV nV < * +<]-{+ C], ]C]<,
]E, ]E B {]x E l-l +x Ij x <
v Mnx n *

As per the labour bureau survey, employment generation in

eight key sectors that was moderating since January 2012
showed some improvement in July-September 2013 vis-a-vis
the previous quarter. Some of the private data sources of
employment in the organised sector have also registered uptick
in hiring since Q2 of 2013-14. The IT-BPO sector contributed
to this improvement along with other sectors such as textiles,
telecom, pharmaceuticals as well as travel/tourism.

i V E E xiMi ={

Reserve Bank of Indias Policy Measures:

i V E x 28 Vx 2014 E pE xi E i
i E I pi E +{I+ E lx il n
Sh E | E Ex E B pi E gi VJ E
{h{ { ] E 25 {<] gE 8 |ii E
n * =Vi {] i u E M< E +x
+i E {l { +ll E ofi{E |i`i Ex E B
={ E M*
2013-14 E nx, xi @h {xk{h (<+) E v
`294 x il BBB, BBB E v `906 x
E +i nxE x ii E +, |iI H V {Sx

The Reserve Bank in its Third Quarter Review of Monetary

Policy on January 28, 2014, hiked the repo rate by 25 bps to 8
per cent on account of upside risks to inflation, to anchor
inflation expectation and to contain second round effects. The
move was intended to set the economy securely on the
disinflationary path as recommended by the Urjit Patel
Committee.
During 2013-14, net liquidity to the tune of about Rs. 520 billion
has been injected through outright Open Market Operations,
besides an average daily net liquidity injection of `906 billion

196

+E <xx .
AllBank Finance Ltd.

E v +ll `520 x E x ii E
M * Sl i E nx +ix `1.1 ]x nxE +v
{ BBB, BBB B n {V il `397 x <+
E v b M *
i V E E pE xi E +v pi { xjh
Jx il v{h +lE li E |vi Ei B E
E {xr E |G E lx nx *
E{x E {Sx
2013-14 E nx +{E E{x E Miv +vEi <x
Ij iE i - ]< +vx xnx V z Ij
l +] ] E{x], E]x x, G}]{{, {E VM,
{], b|M, ], IhE lx +n il bS,
|ii, x Miv* +{E E{x x {xM`x xnx {
E Ex + E * 2013-14 E nx +{E E{x
x ]< +vx |{i + 53 |ii E r nV E V
{U E ix {nj + 100 |ii E r
ni *
+{E E{x E x {] E +i +v V 01 +|
2013 E `47.30 Ec l 7 |ii E r E l 31 S
2014 E `50.45 Ec +vE M* 31 S 2014 E
{i i x + gE `270.87 J M V {U
`242.28 J l* il{, 31 S, 2014 E {i i
V + Bb+ P] B x E Eh `90.23 J
P]E `70.96 J M*
S E B n]Eh
+{E E{x E |vx i{h n +B * E
` E E{x E b xB +vI B xnE E {
E M * <E +iH, <n E u E{x E b
xB xnE E xi E M * xB +vI B xnE E {
k V B +x vi Ij E {E +x V +x
+{E E{x E +{x E Miv iV
x nn M* x< n E { H E
{nl{x il < B EEi E +{x Vn E
E og Ex E E |Mi { * +{E E{x iExE +lE
i +vx, {xM`x xnx, |VC] Ex, x
Miv +n + =Jx r Ex E |
EM*
nxn E +x{x
+{E E{x x Sx] EM, bxS ]]{ + +x |V
{V V vi Miv E v u V z
xn, nxn, {{j E +x{x E *

through LAF, MSF and term repos and `294 billion through
export credit refinance (ECR). During Q4, an average `1.1
trillion has been injected on a daily basis via LAF, MSF and
term repos and ` 397 billion through ECR.
The monetary policy stance of the Reserve Bankof India has
been driven by the imperatives of keeping inflation in check
and supporting growth revival while managing a complex
external economic situation.
Companys Operations:
During the year 2013-14, your Companys activities have been
confined mostly to TEV study assignments covering various
sectors viz automotive components, cotton yarn, kraft paper,
packaging, hospitals, food processing, hotels, educational
institution, etc.and Debenture / Security Trusteeship
activities.Your Company has also started undertaking
restructuring assignments. During the FY 2013-14, your
Company registered a growth of about 53% in respect of
income from TEV study as compared to the previous year, a
growth of about 100% in Advisory services.
The Asset base of your Companys investment portfolio
increased by more than 7% from `47.30 crores on 1st April,
2013 to more than `50.45 crores as on 31st March, 2014. The
investment income increased to `270.87 lacs for the year
ended 31st March, 2014 from `242.28 lacs in the previous year.
However, interest income decreased to ` 70.96 lacs for the
year ended 31st March, 2014 from `90.23 lacs due to decreased
investment in FDR.
OUTLOOK FOR THE CURRENT YEAR
Your company top management has undergone significant
changes. Shri Rakesh Sethi, was inducted as the new
Chairman & Director on the Board of the Company. Further,
new directors were nominated on the Board of the Company
by Allahabad Bank. The new Chairman and Directors have
vast experience in the financial market and other related areas,
which will help your company boosting up its business growth
in the periods to come. Placement of professionals at New
Delhi office and strengthening of existing work force at Mumbai
and Kolkata office are undergoing. Your company would
endeavor to achieve significant growth in terms of income from
Techno Economic Viability Studies, Restructuring assignments,
Project Appraisal, Trusteeship so on.
COMPLIANCE OF SEBI GUIDELINES
Your company has complied with various guidelines, directives,
circulars issued by SEBI pertaining to Merchant Banking,
Debenture Trusteeship and other applicable capital market
related activities.

ES E h
E{x E E< ES E{x (ES h), x 1975 E
l {`i E{x +vx 1956 E v 217(2B) E ii x
+i *
E{x (xnE b E {] h E |E]Eh) x,
1988 >V E Ih, |tME, +h + n p E
+Vx B Mx

PARTICULARS OF EMPLOYEES

< E +iMi E{x E EU {] x Ex *

The company has nothing to report under this head.

None of the employees are covered under section 217 (2A) of

the Companies Act, 1956 read with Companies (particulars of
Employees) Rules 1975.
COMPANIES (DISCLOSURE OF PARTICULARS IN THE
REPORT OF THE BOARD OF DIRECTORS RULES 1988
CONSERVATION OF ENERGY, TECHNOLOGY,
ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGOINGS

197

+E <xx .
AllBank Finance Ltd.

xnEMh
E n x i I {x, +vI B |v xnE, +vi
|{i Ex { 01 , 2014 xk M<* +h
i, E{E xnE, <n E xx E +
<b E +vI B |v xnE xH Vx E Eh 26
n, 2013 E{x E xnE x * B. E. vx,
|vE (@h), <n E +vi |{i Ex { 01 ,
2014 E{x E xnE {n xk MB* b x E{x
E xnE E { i I {x, +h i B
B. E. vx u =xE EE E nx |nk + E
x E B < +J nV E*

BOARD OF DIRECTORS
Smt. Shubhalakshmi Panse, Chairman & Director, retired
during the year w.e.f. 1st February, 2014 on her attaining
superannuation. ShriArunTiwari, Executive Director, Allahabad
Bank also ceased to be Director of the Company pursuant to
his appointment as Chairman & Managing Director of Union
Bank of India with effect from 26th December, 2013. Shri S.K.
Widhani, General Manager (Credit), Allahabad Bank also
retired as Director of the Company with effect from1st February,
2014 on attaining superannuation. The Board placed on record
its appreciation for the services rendered by
Smt. Shubhalakshmi Panse, Shri Arun Tiwari and Shri S.K.
Widhani during their tenure as Directors of the Company.

E `, +vI B |v xnE, <n E E 12 S,

2014 E{x E b xB +vI B xnE E { xH
E M * ]. +. S, E{E xnE, <n
E B B. E], |vE (@h) <n E E 28
, 2014 E{x E b xi E M*

Shri Rakesh Sethi, Chairman & Managing Director of Allahabad

Bank was appointed as the Chairman & Director of the
Company w.e.f. 12th March, 2014. Shri T.R. Chawla, Executive
Director, Allahabad Bank and Shri M. Venkata Rao, General
Manager (Credit), Allahabad Bank were nominated as Directors
on the Board of the Company by Allahabad Bank w.e.f. 28th
February, 2014.

E{x +vx 1956, E v 274

xnE +M x { M *
E{] Mxx
(B) b `E

None of the Directors of the Company has been disqualified

under section 274(i) (g) of the Companies Act, 1956.

(i)

(V) E +iMi E<

CORPORATE GOVERNANCE
(a) Board Meetings:

2013 14 E nx b E S (4) `E < + Vx b

E n x xxx M
xnE

During the year 2013-14, four (4) Board meetings were held
and attendance of the Board Members was as under:

/ Director

`E E J

`E ={li

No. of meetings

Meetings attended

E ` , +vI B |v xnE (12.03.2014 xH)

Shri Rakesh Sethi, Chairman& Director (Appointed w.e.f. 12.03.2014)

4
4
4
4

4
4
3
4

i I {x (01.02.2014 xk)
Smt. Shubhalakshmi Panse (Retired w.e.f. 01.02.2014)

]. +. S ( 28.02.2014 xH)
Shri T. R. Chawla, Director (Appointed w.e.f. 28.02.2014)

+h i (26.12.2013 iM{j)
Shri ArunTiwari (Resigned w.e.f. 26.12.2013)

B. E. vx (01.02.2014 iM{j)
Shri S. K. Widhani (Retired w.e.f. 01.02.2014)

B. E] (28.02.2014 xH)
Shri M. Venkata Rao (Appointed w.e.f. 28.02.2014)

E. B. E]x
Shri K. S. Venkataraman
n/Shri Subir Das
xn E`/Shri Vinod Kothari
Bx +/Shri Emron Samuel

() J{I i :

(b) Audit Committee:

b E J{I i E M`x n, +vI B

Bx + il +h i n l* +h i
E 26 n, 2013 xx E + <b E +vI B |v
xnE xH Vx E {h{ ]. +. S E
+h i E lx { n E { xH Ei B
xnE b x J{I i E {xM`x E* J i
E EIj E{x +vx 1956 fUe v 292-B E +iMi *

The Audit Committee of the members of the Board was

constituted comprising of Shri Subir Das as Chairman,
Shri Emron Samuel & Shri Arun Tiwari as Members. Pursuant
to the appointment of Shri Arun Tiwari as Chairman & Managing
Director of Union Bank of India w.e.f. 26the December, 2013,
the Board of Directors re-constituted the Audit Committee
by appointing Shri T.R. Chawla as Memberin place of
Shri Arun Tiwari. The scope of Audit Committee is as per
Section 292A of the Companies Act, 1956.

198

+E <xx .
AllBank Finance Ltd.

2013-14 E n x J{I i E S (4) `E +Vi

E M< V ={li xxx l :

xnE

During the year 2013-14, four (4) Audit Committee Meetings

were held and attendance by Audit Committee members was
as under:

/ Director

`E E J

`E ={li

No. of meetings

Meetings attended

n/ShriSubir Das
Bx +/Shri Emron Samuel
+h i (26.12.2013 iM{j)/Shri Arun Tiwari (Resigned w.e.f. 26.12.2013)
]. +. S (13.03.2014 xH)/Shri T. R. Chawla (Appointed w.e.f. 13.03.2014)

4
4
3
0

4
4
3
0

xnE E ni E h
E{x +vx, 1956 E v 217(2AA) E +{Ix xnE
ni h E v Binu {] E Vi E:

DIRECTORS RESPONSIBILITY STATEMENT

B)

31 S 2014 E {i k E E J E i
Sx v Si {]Eh E l M J xE
E {x E M *

a)

In the preparation of the annual accounts for the financial

year ended 31st March, 2014, the applicable accounting
standards had been followed along with proper
explanation relating to departures.

xnE x B J xi E Sx B <x Mi {
M E B xh |CEx EB V HMi B
E{h Ivx i E{x E B x{I ZE
B < +v E nx +{E E{x E +l x E
li |ii E V E*

b)

The Directors had selected such accounting policies and

applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give
a true and fair view of the state of affairs of the company
at the end of the financial year and of the profit or loss of
the Company for the year under review.

) xnE x vJvc B +x +xii+ E Ex B

=xE {i Mx E B il E{x E +i E Ii
Ex i E{x +vx, 1956 E |vx E +x {{i
J +J E JJ i Si B {{i vx J
*
b) xnE x 31 S 2014 E {i i + ii
|i`x +v { E J i EB *
J{IE
E{x +vx, 1956 E v 619(2) E ={v E{x { M
x E Eh i E xjE B J{IE, x< n x
2013-14 i B.{. S]V Bb E{x xn JE E
E{x E vE J{IE xH E *

c)

The Directors had taken proper and sufficient care for

the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act,
1956 for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.

d)

The Directors had prepared the accounts for the financial

year ended 31st March 2014 on a going concern basis.

Pursuant to the requirement under Section 217 (2AA) of the

Companies Act, 1956 with respect to Directors Responsibility
Statement, it is hereby confirmed that:

AUDITORS
The provisions of Section 619(2) of the Companies Act, 1956
being applicable to the Company, the Comptroller and Auditor
General of India, New Delhi had appointed M/s. S.P.
Chatterjee& Co, Chartered Accountants as Statutory Auditors
of the Company for the year 2013-14.

J{IE E {] { |vx E =k
+{x J{I E nx J{IE u E< xn] ]{{h
x E M<*
x
+{E xnE, i E xjE B J{IE u nB MB
Mnx i =xE |i +{x + H Ei *

MANAGEMENTS REPLY TO THE AUDITORS REPORT

+{E xnE E{x E E +li <n E -

{ |{i i lx B Mnx i <E |i vxn
Y{i Ex Si + E{x E ES u nB MB Mnx
B EB MB | i =xE |i + |E] Ei *

Your Directors also wish to place on record their sincere thanks

to the Bankers viz, Allahabad Bank for their assistance, support
and guidance from time to time and also thankfully
acknowledge contributions made and efforts put in by
companys employees.

xnE b E B B E +

For on and behalf of the Board of Directors

(E. B. E]x)
xnE

(E `)
+vI

The Auditors made no specific qualification during the course

of their audit.
GENERAL
Your Directors wish to place on record their gratitude to the
Comptroller and Auditor General of India for their valuable
guidance.

(K. S. Venkataraman)
Director

199

(Rakesh Sethi)
Chairman

+E <xx ]b
AllBank Finance Limited

31 S, 2014 E lli ix {j
BALANCE SHEET AS AT 31st March, 2014

h/Particulars

S ./ Note No

31S/Mar14

2.1
2.2

150,000,000
425,839,921

150,000,000
388,856,103

575,839,921

538,856,103

2.3
2.4

1,415,266
1,415,266

1,309,923
1,309,923

2.5
2.6
2.7

3,242,308
2,640,503
40,229,607
46,112,418
623,367,605

1,486,482
7,809,346
38,627,506
47,923,334
588,089,360

1,387,975
2,310
1,390,285

1,401,835
15,026
1,416,861

2.9

251,850,314

251,625,314

2.10

220,733
252,071,047

946,128
252,571,442

S +i/Current assets
S x /Current Investment
{ |{ /Trade receivables
xEn + xEn i

2.11
2.12

173,874,799
3,907,835

146,165,949
582,936

Cash and cash equivalents

2.13

79,113,327

76,590,287

2.14
2.15

106,608,720
6,401,592
369,906,273
623,367,605

104,375,880
6,386,005
334,101,057
588,089,360

<C] + niB / EQUITY AND LIABILITIES

vE E xv / Shareholders funds
{V /Share capital
|Ii B +v / Reserves and surplus
+]x x iE +nx vx/
Share application money pending allotment

M S niB/Non-current liabilities

+lMi E niB(x)/Deferred tax liabilities (net)

nPv |vx/Long term provisions
+x nPv niB/Other Long term liabilities
S niB / Current liabilities
{ n /Trade payables
+x S niB / Other current liabilities
+{v |vx / Short term provisions

+i/ASSETS
M S +i/Non-current assets

l +i/Fixed assets
i +i/Tangible assets
+i +i/Intangible assets
{V E |Mi {/Capital Work in Progress

31

(`)

S/Mar13

(`)

2.8

M S x
Non Current Investments

nPv @h B +O
Long term loans and advances
+x M S +i/Other non-current assets

+{v @h B +O
Short-term loans and advances
+x S +i/Other current assets

i{h J xi + J ]{{h
Significant accounting policies and notes on accounts1 & 2
il E {] E +x
Ei B.{. S]V Bb E

b E B B E +
For and on behalf of the Board

As per our report of even date

For S. P. Chatterjee & Co.

xn JE
Chartered Accountants

{VEh J /
Firm's Registration Number : 303081E

B.{. S]V / S. P. Chatterjee

{]x / Partner
m=g;t mkgt / Membership No.004697
EEi, 23 +|, 2014 /

E ` / Rakesh Sethi
+vI / Chairman
E.B. E]x/ K. S. Venkataraman
xnE/ Director

Kolkata, 23rd April, 2014

200

].+.S / T.R.Chawla
xnE / Director

n / Subir Das
xnE / Director
/ Shreya Shah
E{x S / Company Secretary

+E <xx ]b
AllBank Finance Limited

31 S, 2014 E {i i x h
Profit and Loss Statement for the year ended March 31st, 2014

S .

h
Particulars

B/A. ii {Sx/Continuing operations

V/Revenue
{Sx V / Revenue from operations
+x + / Other Income
E V /Total Revenue
JS / Expenses
ES JS / Employee benefit expense
B {vx /
E

31.03.2014

Note No.

Depreciation and amortization expense

+x JS / Other expenses
JS / Total Expenses

E { /Profit before tax

E /Tax expense
S E/Current tax
Mi /Earlier Years
ii {Sx (E {Si)/

E {i

31.03.2013

E {i

Year ended

Year ended

31.03.2014

31.03.2013

(`)

(`)

2.16
2.17

20,497,381
34,933,789
55,431,170

14,080,516
66,344,567
80,425,083

2.18

5,733,349

4,691,896

2.8
2.19

153,686
4,573,965
10,461,000

169,224
36,485,212
41,346,332

44,970,170

39,078,751

7,769,000

217,352

2,821,214

36,983,818

36,257,537

2.20

Profit from continuing operations (after tax)

/B. {i {Sx/Discontinuing operations

{i {Sx /Profit from discontinuing operations
{i {Sx { E /Tax expenses on discontinuing operations

36,983,818

36,257,537

24.66

24.17

24.66

24.17

{i {Sx (E {Si)/
Profit from discontinuing operations (after tax)

/C. +v i /Profit for the period

|i +Vx: (` )/Earning per equity share: (in `)
/Basic
b<]b/Diluted
il E {] E +x
Ei B.{. S]V Bb E

b E B B E +
For and on behalf of the Board

As per our report of even date

For S. P. Chatterjee & Co.

xn JE
Chartered Accountants

{VEh J /
Firm's Registration Number : 303081E

B.{. S]V / S. P. Chatterjee

{]x / Partner
m=g;t mkgt / Membership No.004697
EEi, 23 +|, 2014 /

E ` / Rakesh Sethi
+vI / Chairman
E.B. E]x/ K. S. Venkataraman
xnE/ Director

Kolkata, 23rd April, 2014

201

].+.S / T.R.Chawla
xnE / Director

n / Subir Das
xnE / Director
/ Shreya Shah
E{x S / Company Secretary

+E <xx ]b
AllBank Finance Limited

31 S, 2014 E {i i xEn | h
Cash Flow Statement for the year ended 31 st March, 2014

h
Particulars

31.03.2014 E
{i i

31.03.2013 E
{i i

For the year

ended
31.03.2014

For the year

ended
31.03.2013

(`)

(`)

44,970,170

39,078,751

153,686

169,224

110,300

32,235,734

(326,465)

(798,767)

(30,000)

(35,000)

(23,237,827)

(26,246,488)

(32,335,734)

72,960

113,442

B. {Sx Miv xEn |

A. CASH FLOW FROM OPERATING ACTIVITIES

E B +vh Miv { x /(x)

Net Profit/(Loss) before Tax & Extraordinary Activities

Vx / Adjustments for:
/ Depreciation
nMv @h i |vx/ Provision for doubtful debts
+{Ji +v @h / Bad Debts written off
+-S+ b / Dividend Income - Mutual Funds
+- / Dividend Income - Shares
V + / Interest Income
x E i + +x+{Ii |vx
Provision for diminution in value of investments no longer required

OS] i |vx / Provision for

gratuity

x E x /Loss in value of investment

+E xEnEh i |vx/Provision for Leave Encashment
x E G /Profit on sale of investments
E {V {ix { {Sx
Operating Profit before Working Capital Changes

200,201
58,360

75,592

(10,588,692)

(6,170,655)

11,382,693

6,086,099

1,755,826

954,384

(5,168,843)

(829,470)

(3,324,899)

24,733

15,587

668,467

(1,482,164)

3,749,306

E {V {ix i Vx/
Adjustments For Working Capital Changes

{ n/Trade Payable
+x S niB/Other current liabilities
{ B +x |{/Trade & Other Receivables
+x S +i/Other current assets
@h B +O/Loans & advances
+vh n { xEn |/Cash Flow Before Extraordinary Item
|nk +E/Income Tax Paid
{Sx Miv x xEn | [B]/

3,178,200

10,653,519

(6,583,576)

(6,400,000)

Net Cash Flow From Operating Activities

(3,405,376)

4,253,519

[A]

202

+E <xx .
AllBank Finance Ltd.

h
Particulars

31.03.2014 E
{i i

31.03.2013 E
{i i

For the year

ended
31.03.2014

For the year

ended
31.03.2013

(`)

(`)

(127110.00)

(59603.00)

(17,538,766)

(46,702,774)

23,237,827

26,246,488

30,000

35,000

326,465

798,767

5,928,416

(19,682,122)

76,590,287

92,018,890

2,523,040

(15,428,603)

79,113,327

76,590,287

. x Miv xEn |/
B. CASH FLOW FROM INVESTING ACTIVITIES

l +i E Jn/Purchase Of Fixed Assets

{V b+<{/Capital WIP
x |{i/Proceeds from investments
V +/Interest income
+-/Dividend income - Shares
+- S+ b/Dividend income - Mutual funds
x Miv x xEn | []/
Net Cash Flow From Investing Activities [B]

. k{h Miv xEn |/

C. CASH FLOW FROM FINANCING ACTIVITIES

k{h Miv x xEn | []

Net Cash Flow From Financing Activities [C]

h/Summary Statement
E + xEn B xEn i/
Cash & Cash Equivalents At The Beginning Of The Year

Vc: xEn B xEn i x r [B] + []

+ []

Add: Net Increase In Cash & Cash Equivalents [A+B+C]

E +i xEn B xEn i
Cash & Cash Equivalents At The End Of The Year

il E {] E +x
Ei B.{. S]V Bb E

b E B B E +
For and on behalf of the Board

As per our report of even date

For S. P. Chatterjee & Co.

xn JE
Chartered Accountants

{VEh J /
Firm's Registration Number : 303081E

B.{. S]V / S. P. Chatterjee

{]x / Partner
m=g;t mkgt / Membership No.004697
EEi, 23 +|, 2014 /

E ` / Rakesh Sethi
+vI / Chairman
E.B. E]x/ K. S. Venkataraman
xnE/ Director

Kolkata, 23rd April, 2014

203

].+.S / T.R.Chawla
xnE / Director

n / Subir Das
xnE / Director
/ Shreya Shah
E{x S / Company Secretary

+E <xx .
AllBank Finance Ltd.

x] 1

NOTE 1

i{h J xi
1.1 k h i Ex E +v

Significant Accounting Policies:

k h E J xE + E{x +vx, 1956 E

Mi |vx E +x i EB Vi + {{Mi Mi
{{] { +vi * J xi, V iE +xl xn] x
, +xE + xi: Ei J ri E +x{ * n
+ |{ iE x MB + + E J, V iE
+xl xn] x , ={Si +v { E M *

The financial statements are prepared in accordance with

applicable accounting standards and relevant provisions of
the Companies Act, 1956 and are based on the historical cost
conventions. Accounting policies unless specifically stated to
be otherwise, are consistent and are in consonance with
generally accepted accounting principles. All expenses and
income to the extent considered payable and receivable ,
unless stated otherwise, have been accounted for on accrual
basis.

1.2 |CEx E |M

1.2 Use of Estimates

k h i Ex i B |vx E +Ei i V
B +xx + |CEx Ei V {] E M< +i +
ni+ E E E |i Ei + ix {j E iJ E
+EE ni+ il +i + E nx {] E M<
+ + E vi |E]Eh *

The preparation of financial statements require management

to make estimates and assumptions that affect the reported
amount of assets and liabilities and disclosures relating to
contingent liabilities and assets as at the Balance Sheet date
and the reported amounts of income and expenses during the
year.

+EEi+ E i nV E Vi V < i E x
E ni ={Mi M + = E Si |CEx E V
Ei * V {h Yi/i i = iE
{h + |CEx E +i E +Yi E Vi *

Contingencies are recorded when it is probable that a liability

will be incurred and the amounts can reasonably be estimated.
Differences between the actual results and estimates are
recognized in the year in which the results are known /
materialized.

1.3 V +Yx

1.3 Revenue Recognition

(i)

1.1 Basis of preparation of Financial Statements

{]] k{h

(i) Lease Finance

01.04.2001 E <E {Si J +v E nx i

{]] E +i E v | V { J xE
19(BB-19) M * SE E{x x 01.04.2001 E +l
<E {Si E< V Ei x E +i: BB-19
E{x { |V x *
i V E u Pi E{h xnb E +iMi
V Vb +i +x{V +i E { MEi
V EB { S x E M *

The Accounting Standard 19 (AS19) on Leases came

into effect in respect of all assets leased during accounting
periods commencing on or after 1.4.2001. Since the
Company has not sanctioned any lease on or after
1.4.2001, the AS19 is not applicable to the Company.

il{ E{x x E 2005 h-* S] E E {

{VEi E il SE E{x + E< BS{ B VM
E x E , +iB =x M EM k E{x
E { +{x < { E n *
(ii) V + E +Yx E il |V n E +v
{ M x Vx E E iE
+x{i +v { E Vi *
(iii) + E i +Yi E Vi V <E |{i E
+vE l{i Vi *
1.4 l +i

However, the Company had registered itself as a Category

I Merchant Banker in the year 2005 and had surrendered
NBFC license since it discontinued HP and Leasing
business.

E{x u l{x { EB MB i +S +i E
{VEh Mi { i *
1.5 {]] { M< +i
G E M< B {]] { n M< +i E {VEh l{x Mi
B l{x { E Vi *

Lease Rentals are not considered where Leased Assets

have been classified as Non Performing Assets (NPA)
under the Prudential Norms announced by Reserve Bank
of India.

(ii) Interest income is recognized on a time proportion basis

depending upon the amount outstanding and the rate
applicable and to the extent considered realizable.
(iii) Income on account of dividend is recognized when the
right to receive is established.
1.4 Fixed Assets
Fixed Assets are capitalized at cost inclusive of installation
expenses as incurred by the Company.
1.5 Leased Assets
Assets purchased and given on lease are capitalized on
installation at cost and installation expenses.

204

+E <xx .
AllBank Finance Ltd.

1.6
(i) V { n M< +i E + +x +i

1.6 Depreciation

E{x +vx 1956 E +xS XIV xvi n { v

J |h { E |vx E Vi *

Depreciation is provided under Straight Line Method at the

rates and in the manner as per Schedule XIV of the
Companies Act, 1956.

+i +i E {S E +v +l n ={M +v {S
E i +{IEi E +v v J |h
{vi E Vi *
(ii) {]] { n M< +i:

Intangible Assets are amortised over a period of five years or

in lesser period if useful life is lower than five years on straight
line basis.

i xn JE lx u V BE=]M VV
v Mn x] E +x V { n M< +i {
E |vx E Vi *
E{x +vx, 1956 E +xS XIV xvi n { v
J |h { i +i ({]] { n M< =x +i E
]E Vx +x{V +i E { MEi E M ) {
v J |h { E |vx E Vi *

Depreciation on Leased Assets is provided as per the Guidance

Note on Accounting for Leases issued by the Institute of
Chartered Accountants of India.

1.7 x

1.7 Investment

nP +v x E Mi { xvh E Vi * E
{i { x E i |vx B x E
E x n l { E , { E Vi *

Long Term Investments are valued at cost. Provision for

diminution in value of investment is made for decrease in value
of such investments if permanent in nature as at the end of
the year.

ix x E Ex xxi Mi B V { E
Vi *

Current Investments are valued at the lower of cost and market

value.

V x Sr E M {xi r E n M +
V E]x ={v x il x E S xE n M
, B x E `1|i E{x M *

In cases where Investments are listed but suspended and

market quotations are not available and where investments
are delisted, the value of the investment in each of such
company has been taken at `1/-.

x (|ii xnx v +{v E Sh) +vx,

1992 E +iMi M`i x, < E +nx,
. .. n< Ji E x{]x +Vi E <
|E +Vi E Mi E B xh { . .. n<
E x { M * < x E nPv x
x M *

In the case of shares acquired in settlement of M/s V B Desai

A/c pursuant to the Order of The Special Court, Mumbai,
constituted under The Special Courts (Trial of Offences relating
to Transactions in Securities) Act, 1992, the cost of acquisition
of the Shares so acquired have been taken at the net amount
due from M/s V B Desai, prior to such ruling. This investment
has been considered as Long Term Investment.

1.8 E{h xnb

1.8 Prudential Norms

t{ E{x E Jn x Ei il{ V E
|V , + +Yx, +i MEh B |vx i M EM
k E{x i E{h xnb E v i V E
u V xn E +x{x E M *

Although the Company is not doing Hire Purchase and Leasing

business yet the Directions issued by the Reserve Bank of
India regarding prudential norms for Non-Banking Financial
Companies for income recognition, asset classification and
provisions have been followed, wherever found applicable.

1.9 v nxn

1.9 Sundry Debtors

n/|{ V S] EM, ]]{ +n E Eh E

{i { + |{i x , E v nxn Ji x bi
B vi +/+i Ji V E Vi *

Amount due/ receivable but yet to be received at the end of

the year on account of Merchant banking, trusteeship etc.
are debited to Sundry Debtors Account and credited to
respective income/ assets account.

1.10 +x{V +i i |vx

E Jn, V +n 12 +vE Ei n x E
+ +i E{] V 6 +vE +v i V
n i i +i +x{V x Vi + Ji E< +
x x Vi *

1.10 Provision for Non Performing Assets

(i) Assets other than given on Lease:

(ii)

Assets given on Lease:

Depreciation on all the fixed assets (excluding Leased Assets

classified as Non Performing Assets) has been provided on
straight line method at the rates prescribed in Schedule XIV
of the Companies Act, 1956.

In case of Installments due for more than 12 months from Hire

Purchase, Lease, etc and in case of interest remained due for
more than 6 months from Inter Corporate Deposit, the asset is
treated as Non Performing Assets and no income is considered
in the accounts.

205

+E <xx .
AllBank Finance Ltd.

B x Ji x bE +x{V +i i |vx
E Vi *
1.11 +i E Ii x

Provision for a Non-Performing Asset is made by debiting

Profit & Loss Account.

E +i E i Ii x Vi V = +i E Jx E
Mi M +vE Vi * V +i E
Ii E { +xvi E Vi = Ii x E
B x J |i E Vi * n +xxi
M {ix M i { J +v +Yi
Ii x E |iii E Vi *
1.12ES

An asset is treated as impaired when the carrying cost of assets

exceeds its recoverable value. An impairment loss is charged
to profit and loss account in the year in which an asset is
identified as impaired. The impairment loss recognized in prior
accounting periods is reversed if there has been a change in
the estimate of recoverable amount.

ES ES u |nx E M< E ={Si i

* xvi +nx Vx+ l xv +nx E +Yx
+nx nx { E Vi *

Employee benefits accrued in the year are for services

rendered by the employees. Contribution to defined
contribution schemes such as Provident fund is recognized
as and when incurred.

{i Vx V OS] + +E xEnEh E +iMi

nP EE ES EE iExE E |M EE n
E ix { E {i { xvi E Vi *

Long term employee benefits under defined benefits scheme

such as gratuity and leave encashment are determined at close
of the year at present value of the amount payable using
actuarial techniques.

1.13 +

1.13 Taxes on Income

{ E

1.11 Impairment of Assets

1.12 Employee Benefits

ix + +lMi E nx i E E |vx E Vi *
S E E |vx |V E n + E Exx E |M Ei
B E M + { E Vi * +i E Eh =i{z
+lMi E +i + niB, Vx {i +v |iii
E V Ei , E +Yx +vxi E n + E Exx
E |M Ei B E Vi * +lMi E E i iE +Yi
x E Vi V iE <E |iix E v
{{i +x x *

Provision for tax is made for both current and deferred tax.
Current Tax is provided on the taxable income using the
applicable tax rates and tax laws. Deferred tax assets and
liabilities arising on account of timing difference which are
capable of reversal in subsequent periods are recognized using
tax rates and tax laws which have been enacted or
substantively enacted. Deferred tax assets are not recognized
unless there is sufficient assurance with respect to the reversal
of the same in the future years.

1.14|vx, +EEiB + +EE +i

1.14 Provisions , Contingencies and Contingent Assets

{x {{i { EB MB |CEx |vx E i

+Yi E Vi V {U E P]x E B ix
ni xi + < i E x E vx E Mx
M il ni E E v BE x +xx M
V Ei * +EE +i E k h x i +Yi
E Vi + x |E] E Vi * +EE ni+ i
|vx x E Vi + =x ]{{h E { |E] E
Vi *

Provisions involving substantial degree of estimation in

measurement are recognized when there is a present
obligation as a result of past events and it is probable that
there will be an outflow of resources and a reliable estimate
can be made of the amount of the obligation. Contingent
Assets are neither recognized nor disclosed in the financial
statement . Contingent Liabilities are not provided for and are
disclosed by way of notes.

206

+E <xx .
AllBank Finance Ltd.

x]/NOTE 2
k h { J ]{{h/Notes on Financial Statements
2.1:

{V / Share Capital

lli/As at 31-Mar-14

/ Particulars

(in `)

lli/As at 31-Mar-13

(in `)

|vEi {V:/Authorized shares :

`100/- |iE E 15,00,000 <C] /
[`100/- |iE E 15,00,000 <C] (31S 2013)]
15,00,000 Equity shares of `100/- each
[(March 31, 2013)15,00,000 Equity shares of `100/- each]
V, +nk B |nk :/Issued, subscribed and paid-up shares:
`100/- |iE E 15,00,000 <C]
[`100/- |iE E 15,00,000 <C] (31S
15,00,000 Equity shares of `100/- each

150,000,000

150,000,000

150,000,000

150,000,000

150,000,000

150,000,000

2013)]

[(March 31, 2013)15,00,000 Equity shares of

` 100/- each]
(B/a) : E

E J E vx/Reconciliation of the number of shares outstanding

h / Particulars
lli/As at 31-Mar-14
+v E + E J/Number of shares at the begining of the period 1,500,000
+v E nx V /Shares issued during the period
+v E +i E J/Number of shares at the end of the period
1,500,000

lli/As at 31-Mar-13
1,500,000
1,500,000

() : E{x 5% +vE vi Ex |iE vE E E J

(b) : Shares in the company held by each shareholder holding more than 5%

lli/As at 31-Mar-14

/ Particulars

vE E x

vi E J

vi E%

No. of
Shares
held
1499994

% of
Holding

No. of Shares
held

%
% of
Holding

99.99

1499994

99.99

Name of Shareholder

<n E/Allahabad Bank

2.2 : |Ii

lli/As at 31-Mar-13
vi E J vi E

B +v/Reserves and Surplus

/ Particulars

lli/As at 31-Mar-14

lli/As at 31-Mar-13

(in `)
-

(in `)
-

853,411
853,411
-

853,411
853,411
-

388,002,692
36,983,818
424,986,510
425,839,921

351,745,155
36,257,537
388,002,692
388,856,103

{VMi |Ii/Capital reserve

x |Ii/General reserve
{U k h E +x
Balance as per the last financial statements

| Ji/Share Premium Account

+v/Surplus
{U k h E +x /
Balance as per the last financial statements
Vc: +v i /Add: Profit for the period
xVx i ={v /Amount available for appropriation
E |Ii B +v/Total reserves and surplus

207

+E <xx .
AllBank Finance Ltd.
2.3 : +lMi

/Deferred taxes

h/Particulars

lli/As at 31-Mar-14

lli/As at 31-Mar-13

(`)

(`)

E +lMi E niB/Gross deferred tax liabilities

k h B +E h l +i E J E S +i E E { |
Tax impact of difference between carrying amount of fixed
assets in the financial statements and the income tax return

lli/As at 31-Mar-14

lli/As at 31-Mar-13

(`)

(`)

700,706
114,560
600,000
1,415,266

629,736
80,187
600,000
1,309,923

Bx{B B nMv @h { |vx E E { |

Tax impact on account of provison on NPA and doubtful debts

E +lMi E +i/(niB)/Gross deferred tax assets/Liabilities

x +lMi E +i/(niB)/Net deferred tax asset / (liabilities)
2.4 : nPv

|vx/Long term provisions

h/Particulars

ES i |vx/Provision for employee benefits

OS]/Gratuity
U^ xEnEh/Leave encashment
+x{V +i i |vx/Provision for Non Performing Assets
|ii V/Security Deposit
2.5 : {

n/Trade payables

h/Particulars

lli/ As at 31-Mar-14 lli/ As at 31-Mar-13

{ n/Trade payable
+ i xn/Creditors for services
2.6 : +x

(`)

3,242,308
3,242,308

1,486,482
1,486,482

lli/As at 31-Mar-14

lli/As at 31-Mar-13

(`)

(`)

887,809

616,852

44,805

12,360

1,707,889

7,180,134

2,640,503

7,809,346

lli/As at 31-Mar-14

lli/As at 31-Mar-13

(`)

(`)

13,301

11,311

11,362

7,375

40,153,944

38,557,820

51,000
40,229,607

51,000
38,627,506

S niB/Other current liabilities

h/Particulars
C<] +O/Advance from clients
E ni/Service Tax Liability
+x/Others

2.7

(`)

+{v |vx/Short term provisions

h/Particulars
OS]/Gratuity
U^ xEnEh/Leave encashment
+E i |vx/Provision for Income Tax
+xM E i |vx/Provision for Fringe Benefit Tax

208

209

Total Own Assets

E vi +i

Total Intangible Assets

E +i +i

Computer Software

2,598,348

56,750

56,750

AS AT
01-04-13

PARTICULARS

E{] }]

lli

{vx

127,110

G /Vx

GROSS BLOCK

SALES/
ADJUSTMENT

SALES/ADJUSTMENT

E E

127,110

127,110

127,110

ADDITION

G /Vx

GROSS BLOCK

{vx

ADDITION

3,141,598

600,000

600,000

1,377,181
595,043
2,541,598

+i +i /INTANGIBLE ASSETS

Total Tangible Assets

E i +i

Office Equipment
]x/Motor Vehicles
E /T O T A L
>>>

E ={Eh

Furniture & Fixture

xS B CS

Plant & Machinery

j B x

(B) Assets given on lease

() V { |nk +i

Office Equipment
]x/Motor Vehicles
E /T O T A L
>>>

E ={Eh

Furniture & Fixture

xS B CS

(A) Assets other than on lease

569,374

AS AT
01-04-13

PARTICULARS

(B) V E +iH +x
+i

lli

E E

/ALLBANK FINANCE LIMITED

i +i / TANGIBLE ASSETS

+E <xx ]b

2,725,458

56,750

56,750

TOTAL
AS AT
31-3-2014

E lli

3,268,708

600,000

600,000

1,504,291
595,043
2,668,708

569,374

TOTAL
AS AT
31-03-14

E lli

1,781,487

41,724

41,724

AS AT
01-04-13

lli

1,739,763

1,180,482
199,168
1,739,763

360,113

AS AT
01-04-13

lli

153,686

12,716

12,716

FOR THE
YEAR

140,970

64,617
56,529
140,970

19,824

FOR THE
YEAR

ADJUSTMENT

Vx

DEPRECIATION

ADJUSTMENT

1,935,173

54,440

54,440

TOTAL
AS AT
31-3-2014

E lli

1,880,733

1,245,099
255,697
1,880,733

379,937

TOTAL
AS AT
31-03-14

Vx E lli

DEPRECIATION

790,285

2,310

2,310

AS AT
31-03-14

lli

x E

1,387,975

600,000

600,000

259,192
339,346
787,975

189,437

AS AT
31-03-14

lli

816,861

15,026

15,026

AS AT
31-03-13

lli

NET BLOCK

1,401,835

600,000

600,000

196,699
395,875
801,835

209,261

AS AT
31-03-13

lli

x E <-NET BLOCK ->

x]/Note: 2.8.

+E <xx .
AllBank Finance Ltd.

x]/NOTE 2.9: M-S x/NON-CURRENT INVESTMENTS

A. +xE]b

Unquoted

<C] /Equity Shares

h/Particulars

lli
J/

lli

As at 31.03.2014

As at 31.03.2013

J/

Number

Book
Value (`)

Market
Value (`)

Number

Book
Value (`)

Market
Value (`)

50

1,538

50

1,538

10,000

851,900

10,000

851,900

106,000

2,507,960

106,000

2,507,960

40,000

757,200

40,000

757,200

28,000

795,200

28,000

795,200

25,000

1,017,500

25,000

1,017,500

126,000

4,181,006

126,000

4,181,006

1,400

Bonus

1,400

Bonus

6,400

64,000

6,400

64,000

6,50,000

6,500,000

6,50,000

6,500,000

380,923

3,809,230

380,923

3,809,230

48,600

1,944,000

48,600

1,944,000

119,700

1,197,000

119,700

1,197,000

85,500

2,992,500

85,500

2,992,500

n EE .
Divya Chemicals Ltd

]E]E <b .
({ x ] E] .
E x Yi)
Techtreck India Ltd
(Formerly known as Nirmal
Metal Fabricators Ltd)

x S VM Bb <x]] .
New Century Leasing
and Investments Ltd

x < +x Bx] .
New Era Urban
Amenities LTd

V] EE .
Regent Chemicals Ltd

MVi ] .
Gujarat Filaments Ltd

.
Solar Busiforms Ltd

x {xM .
Newas Spinning Mills Ltd

B <x V .
BCL Financial Services Ltd

nx M .
Dewan Sugars Ltd

|i{ ] .
Harpartap Steel Ltd

E ] .
Malavika Steels Ltd

E <x Bb V] .
Moulik Finance and
Resorts Ltd

G |VC] .
Vikram Projects Ltd

210

+E <xx .
AllBank Finance Ltd.

h/Particulars

lli
J/

lli

As at 31.03.2014

As at 31.03.2013

J/

Number

Book
Value (`)

Market
Value (`)

Number

Book
Value (`)

Market
Value (`)

Ritesh Polyesters Ltd

EM x] ./

58,300

874,500

58,300

874,500

Kalinga Cements Ltd

150,000

1,500,000
28,993,534

1
15

150,000

1,500,000
28,993,534

1
15

i {B] .

P]B: x E i |vx
Less: Provision for diminution
in value of investments

28,993,519

E /Total
bS/Debentures

28,993,534

15

15

lli

lli

As at 31.03.2014

h/Particulars

15

As at 31.03.2013

J/

J/

Number

Book
Value(`)

Market
Value(`)

Number

Book
Value(`)

Market
Value(`)

NA

500

50,000,000

NA

30

30,000,000

NA

30

30,000,000

NA

100

10,000,000

NA

100

10,000,000

NA

Patel Engineering

140

14,000,000

NA

200

20,000,000

NA

E /Total
+xE]b x E E /

270

54,000,000

830 110,000,000

54,000,000

110,000,000

]] E{]
Tata Capital

x E{]
Reliance Capital

]{] <x
Shriram Transport

{] <VxM

Total Value of Unquoted investments

/B. E]b /Quoted

<C] /Equity Shares
h/Particulars

lli

lli

As at 31.03.2014

As at 31.03.2013

J/

J/

Number

Book
Value(`)

Market
Value(`)

Number

Book
Value(`)

Market
Value(`)

25

250

25

250

12,355

2,290

130,049

247,549

2,290

130,049

257,282

NHPC Ltd

50000

1,687,575

995,000

50000

1,687,575

985,000

E /Total
P]B: x E i |vx

52,315

1,817,874

1,242,550

52,315

1,818,874

1,254,637

V+ BO .
Zuari Agro Limited

]] M VV .
Tata Global Beverages Ltd

BxBS{ .

Less: Provision for diminution

in value of investments

/Total

767,575
52,315

692,560

1,050,299

1,242,550

211

52,315

1,125,314

1,254,637

+E <xx .
AllBank Finance Ltd.

v{j/Bonds

lli

lli

As at 31.03.2014

As at 31.03.2013

J/

J/

Number

Book
Value (`)

Market
Value (`)

Number

Book
Value (`)

Market
Value (`)

500

50,000,000

49,284,400

IRFC

500

50,000,000

50,104,342

500

50,000,000

48,050,000

E/Total

500

50,000,000

50,104,342

1,000

100,000,000

97,334,400

+<+<BB/
IIFCL

+<+B

31 S 2014 E lli/As at 31st March 2014

S+ b/Mutual Funds
x il b
Vx E x

E{

x] E
J

Investment

Option

No. of
Units

Fund

Date

Scheme
Name

bB{ E E 25 b
E BB
5/21/2010

3/28/2012

7/9/2012

DSP Black
Rock MF

Focus 25 Fund

BSbB
BB

BB{ 390 nx
S 2012 (1)-V

HDFC MF

FMP 390 Days

March 2012 (1) - G

E]E BB

M b {x

Kotak MF

Regular Bond Plan

B+< BB b<xE b b
7/10/2012

10/10/2012

SBI MF

Dynamic Bond Fund

BB

b<xE b b

Reliance MF

Dynamic Bond Fund

+<bB BB b<xE b b
2/14/2013

IDFC MF

Dynamic Bond Fund

+<bB BB BB{ V 11
3/5/2013

IDFC MF

FMP Series 11

31 S 2013 E lli/As at 31st March 2013

x] E
J

Book

Market

No. of

Book

Market

Value(`)
(`)

Value(`)
(`)

Units

Value(`)
(`)

Value(`)
(`)

250,000.000

2,500,000

2,520,500

3,800,000.00

38,000,000

41,814,060

25,500,000

27,006,150

41,500,000

43,285,055

10,000,000

10,956,881 4,050,000.000 40,500,000.000

44,334,560.000

65,300,000

67,767,388

4,500,000

4,951,395

Ol
Growth

Ol
Growth

Ol
Growth

Ol
Growth

Ol
Growth

Ol
Growth

Ol
Growth

141,625,314

146,800,000

M S x E E (E]b)/
Total Value of Non Current Investments (Quoted)

197,850,299

101,125,314

251,850,314

251,625,314

M S x E E (E]b B +xE]b)/
Total Value of Non Current Investments (Quoted & Unquoted)

2.10 : nPv

@h B +O/Long Term Loans & Advances

h/Particulars

As at 31-Mar-14

As at 31-Mar-13

(`)

(`)

47,500
173,233

47,500
898,628

220,733

946,128

(|ii B +SU x MB)(Secured and considered good)

V/Deposits
ES E +O, V i/Advance to employees including interest

212

213

BbBB 367 nx-18

Cb ] {x V-Bb

BbBB 366 nx-1

M b {x

B+< BB

BB

B+< BB

E]E BB

SBI MF

Kotak MF

SBI MF

Reliance MF

Kotak MF

SBI MF

Birla MF

Kotak MF

SBI MF

IDFC MF

IDFC MF

IDFC MF

7/10/2012

9/4/2012

10/3/2012

10/10/2012

10/10/2012

1/4/2013

1/16/2013

2/14/2013

2/14/2013

2/14/2013

3/5/2013

3/22/2013

Regular Bond Plan

+] ] ] b

M b {x

BB

E]E BB

b<xE b b

BB{ V 11

b<xE b b

+<bB BB

+<bB BB

+<bB BB

Dynamic Bond Fund

FMP Series 11

Dynamic Bond Fund

Dynamic Bond Fund

b<xE b b

B+< BB

Regular Bond Plan

Ultra Short Term Fund

Dynamic Bond Fund

b<xE b b

Regular Bond Plan

M b {x

Dynamic Bond Fund

B+< BB

E]E BB

b<xE b b

BB

Ultra Short Term Horizon Debt Fund

+] ] ] b <Vx b]

B+< BB

Regular Bond Plan

Dynamic Bond Fund

M b {x

Kotak MF

7/9/2012

SDFS 366 days - 1

E]E BB

SBI MF

4/17/2012

Fixed Term Plan-Series FD

b<xE b b

Birla MF

4/10/2012

SDFS 367 days - 18

FMP Yearly FMP Series : YFMP (03/12)

Savings Fund - DDR

Flexible Income Plan -DDR

Ultra Short Term Fund - MDR

FMP Series 73 - 376 Days Plan Q

FMP 384D March 2014(1)

FMP Series 73 - 407 Days

FMP 554d November 13 Dir

Income Plus

Magnum Income

B+< BB

SBI MF

3/27/2012

UTI MF

3/26/2012

BB{ < BB{ V: <BB{(03/12)

]+< BB

Birla MF

10/6/2011

M b-bb+

BB

ICICI MF

8/25/2011

C <xE {x-bb+

+<+<+< BB

IDFC MF

8/3/2010

+] ] ] b- Bb+

+<bB BB

ICICI MF

3/27/2014

BB{ V 73-376 nx {x C

+<+<+< BB

HDFC MF

3/20/2014

BB{ 384 b S 2014 (1)

BSbB BB

ICICI MF

3/5/2014

BBx{ V 73-407 nx

+<+<+< BB

HDFC MF

11/12/2013

BB{ 554b x 13 b+<+

BSbB BB

Birla MF

4/29/2013

<xE {

BB

SBI MF

4/23/2013

Mx <xE

Bond Fund

B+< BB

UTI MF

4/15/2013

b b

]+< BB

Investment
Date

Vx E x

Scheme Name

Fund

x il

+E <xx ]b/ALLBANK FINANCE LIMITED

x]/Note 2.11 S x/Current Investments
E{

Growth

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Dividend Reinvest

{xx

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Dividend Reinvest

{xx

Dividend Reinvest

{xx

Dividend Reinvest

{xx

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Growth

Ol

Ol

Option

173,874,799

7,000,000

50,000,000

50,000,000

10,000,000

18,374,799

28,500,000

10,000,000

175,709,793

7,000,000

50,257,000

50,530,500

10,400,700

18,374,799

28,864,966

10,281,828

(`)

(`)

V
Market Value

Cost Value

Mi

lli/As at 31st March 2014

146,165,949

3,500,000

4,500,000

14,000,000

5,000,000

5,000,000

2,912,271

3,000,000

13,000,000

10,000,000

1,200,000

3,500,000

10,000,000

4,000,000

21,500,000

22,000,000

5,000,000

15,000,000

713,686

2,335,378

4,613

(`)

Cost Value

Mi

154,956,887

3,506,614

4,541,040

14,125,137

5,265,690

5,206,278

2,912,271

3,159,414

13,536,323

10,459,180

1,273,820

3,644,395

10,531,379

4,165,022

23,441,235

24,085,380

5,500,900

16,544,130

713,686

2,340,380

4,613

(`)

Market Value

lli/As at 31st March 2013

+E <xx .
AllBank Finance Ltd.
2.12 : ]b |{ /Trade receivables
h/Particulars

lli/As at 31S/Mar14

lli/As at 31S/Mar13

(`)

(`)

2,759,855
2,759,855

554,706
554,706

1,147,980
110,300
1,258,280
110,300
1,147,980
3,907,835

28,230
28,230
28,230
582,936

lli/As at 31S/Mar14

lli/As at 31S/Mar13

(`)

(`)

9,973

402

78,000,000
1,103,354
79,113,327

75,097,200
1,492,685
76,590,287

lli/As at 31S/Mar14

lli/As at 31S/Mar13

(`)

(`)

12,400

8,150

Inter-corporate deposit (net of provision)

*0
+O +E/Advance Income Tax
105,971,690
+O +xM E /Advance Fringe Benefit Tax
90,633
{VMi i +O (|vx E n)/Advance for Capital Goods (Net of provision)
+vE E +O(={Si V i)/Advance to officers (including accrued interest)
{nk /Prepaid expenses
533,997
106,608,720
* +i-E{] V `2,00,000, E M |vx `2,00,000
* Inter-Corporate Deposits `2,00,000/-, provision made `2,00,000/-

*0
103,320,909
90,633
956,188
104,375,880

Mix i n x E il U E +v i E ]b |{
Trade receivables outstanding for a period less than six months
from the date they are due for payment
|ii, +SU x MB/Secured, considered good
+|ii, +SU x MB/Unsecured, considered good

Mix i n x E il U +vE +v i E ]b |{
Trade receivables outstanding for a period exceeding
six months from the date they are due for payment
|ii, +SU x MB/Unsecured, considered good
+|ii, nMv x MB/Unsecured, considered doubtful

P]B: nMv @h i |vx/Less: Provision for doubtful debts

2.13 : xEn

B xEn i/Cash and cash equivalents

h/Particulars
l xEn/Cash on hand
E S B V Ji /
Balances with banks in current and deposit accounts
v V/Fixed Deposit
S Ji/Current Account
2.14 : +{v-@h

B +O/Short-term loans and advances

h/Particulars
+O/Advances
+i-E{] V (|vx E n)

2.15 : +x

S +i/Other Current Assets

h/Particulars

lli/As at 31S/Mar14

lli/As at 31S/Mar13

(`)

(`)

***0

*** 0

4,016,529
2,385,063
6,401,592

3,784,930
2,601,075
6,386,005

EB { ]E(+in k | B |vx E n)
Stock on hire (net of overdue finance charges & provisons)
EV |{ /Brokerage receivable
+x/Others
={Si Ei +n V:/Interest accrued but not due:
x {/on Investments
n V {/on Term Deposit

***EB { ]E `4,00,000/-, EB { B MB nMv ]E E B E M |vx `4,00,000/*** Stock on hire `4,00,000/-, provision made towards provision for doubtful stock on hire was `4,00,000/-

214

+E <xx .
AllBank Finance Ltd.
2.16 : {Sx

V/Revenue from operations

h/Particulars

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

12,452,550

8,124,969

1,245,499
2,580,033
3,560,200
-

75,440
936,246
-

19,838,282

9,136,655

659,099
659,099
20,497,381

4,943,861
4,943,861
14,080,516

S] EM B +x E +vi +/
Merchant Banking and other fee based income
Ex E/Appraisal fee

l{E E/Arrangers fee

bS/|ii xvi E/Debenture/ Security Trusteeship fee
{nj E/Advisory fees
+x/Others
+x {Sx V/Other operating revenues
S+ b ih EV/Brokerage from Mutual Fund Distribution
{ +v E +/Prior period income

2.17 : +x

+/Other Income

h/Particulars

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

16,141,522
10,588,692
326,465
30,000

17,223,917
6,170,655
798,767
35,000

7,096,305

9,022,571

x +/Investment Income:
b + bS { V/Interest on bonds and debentures
x E G { /Profit on sale of Investments
S+ b x { /Dividend on Mutual Fund Investments
{ /Dividend on Shares
+x/Others:
E v V { V/Interest on Fixed Deposits with bank
(i { E E]i `447,643/-, {U `8,92,420/-)
(TDS - `447,643/- , previous year - `8,92,420/-)
|iJi |vx/Provision written back

32,335,734

x E r i ]x E |vx/
Provision written back towards appreciation in value of investments
ES @h { V/Interest on loan from employees
v +/Miscelleaneous income
{ +v E +/Prior Period Income

2.18. : ES

120,805
630,000

10,000
83,252
21,392
643,279

34,933,789

66,344,567

/Employee benefit expense

h/Particulars

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

4,722,889
260,443
72,960
58,360
618,697
5,733,349

3,737,062
222,271
100,375
75,592
556,596
4,691,896

ix B k/Salaries and allowances

xv B +x xv +nx/Contribution to provident and other funds
OS] i |vx/Provision for gratuity
U^ xEnEh i |vx/Provision for leave encashment
] EhE /Staff welfare expenses
215

+E <xx .
AllBank Finance Ltd.
2.19 : +x

/Other expenses

h/Particulars
ti |/Electricity charges
x E i/Repairs to machinery
+x E i/Repairs to others
/Insurance
n B E/Rates and taxes
v (h {] nJ)/
Miscellaneous expenses (Refer details annexed)

v /Miscellaneous expenses
h/Particulars

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

441,167
13,073
-

357,331
462,656
19,527
-

4,119,725
4,573,965

35,645,698
36,485,212

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

{ +v /Prior period expenses

ph B Jx O/Printing & Stationery
xnE E j B b ` E E/

12,566
204,786

50,652
144,507

Directors travelling & Board meeting fees

+{Ji +v @h/Bad Debts written off
nMv @h i |vx/Provision for doubtful debts
v /Miscellaneous expenses
+nx B ni/Subscription and membership
bE B n/Postage & Telephone
{ B { E/Professional & Consultancy Fees
+iE J{I E/Internal Audit Fees
{VEh E/Registration fees
j B x/Traveling and conveyance

517,101
110,300
461,455
629,628
305,238
501,660
80,000
416,650
667,429

587,594
32,235,734

212,912
4,119,725

100,259
35,645,698

265,488
607,610
236,883
250,511
80,000
567,076
519,384

J{IE E Mix (h {] nJ)

Payments to the auditor (Refer details annexed)

J{IE E Mix/Payments to auditor

h/Particulars
J{I E/Audit fee
E J{I E/Tax audit fee
|hx E/Certification fees
j/Travelling
2.20 : E

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

25,000
7,000
180,912
212,912

25,000
7,000
68,259
100,259

/Tax expense:

h/Particulars

31 S 14 E {i /

31 S 13 E {i /

year ended 31-March-14

year ended 31-March-13

(`)

(`)

S E/Current tax
{ E +E B +xM E/

7,769,000

Prior years income tax & fringe benefit taxes

S E/Current tax
i +lMi E/Deferred tax for the year
+lMi E/Deferred tax

217,352
7,986,352
7,986,352

2,821,214
2,821,214
2,821,214

216

+E <xx .
AllBank Finance Ltd.

2.21 +EE niB VxE B |vx x E M :

2.21 Contingent liabilities not provided for :

(B)

(a)

z +{ |vEh E I i , V E{x
i E +{I Ei , E v ni +E B
V E niB*

Disputed Income Tax liability in respect of matters

pending before various Appellate authorities where the
Company expects to succeed.

(` ttF b)/(` in Lakh)

xvh /Assessment Year

31.03.2014
85.74

31.03.2013
80.88

2005-06

11.07

2006-07

3.65

3.38

2007-08

21.66

20.06

2008-09

8.07

2009-10

9.56

2012-13

0.27

120.88

123.46

2003-04

E /

Total

E ni E +Ec {ix +vx +{ { BBB +

+i] +i& V {IE E {I +l r {i +n E
Eh + *
() E{x E Ei{ ES u ix vx i n
< E] BE ] SE n E M< * E{x En
c B ilEli n E i {h i E<
|vx x E M *

The change in the figure of the tax liability is due to order passed
against or in favour of ABFL, partly deposited and aggrieved,
preferred appeal.
(a)

A writ Petition has been filed by some employees of the

Company in Delhi High Court for Salary revision. The
company is contesting the case and pending
quantification of the alleged claim no provision has been
made.

()

(b)

The Company had acted as lead manager for the IPO

issue of Austral Coke & Projects Limited (name changed
to Greenearth Resources and Projects Ltd. w.e.f.
21.01.2010) in August, 2008. Another company namely,
Gujrat NRE Coke Ltd. filed civil suits against the Austral
Coke and its promoters and also made the Merchant
Bankers, Independent directors, Auditors and Solicitors
as party to the suit. AllBank Finance had filed a written
statement on 04.08.2009 in response to the said civil
suit and since then the matter is pending for adjudication.
There is no quantification of the claim for compensation,
payable, if any by, AllBank Finance Ltd.

(c)

A case has been filed by one Amrex Marketing Private

Limited for effecting sale of The Orissa Minerals
Development Company Ltd.s share to them and
adjustment of the alleged payment of `138,600/- against
the sale price. The company is contesting the case on
merits as well as against the intending adjustment of
alleged payment of `138,600/-.

(b)

E{x x +Mi 2008 +] EE Bb |VC]

.(21.01.2010 x {ii: Ox+l Bb
|VC] ) E +<{+ xM i b xV E E
E* MVi Bx+< EE xE BE +x E{x x
+] EE + <E |] E r x
BE n nJ E n il S] E, ij xnE
+ J{IE il ] E {] x n* +
E <x . x 04.08.2009 E =H ] E
=k BE Ji h nJ E + i
+vxh i i * < v + E <x
]b u Ii{i i n, n E< , E {h
x E M *
BC E]M |<] ]b E{x u =x =c
x b{] E. . E E G EB Vx B
G `138,600/- E ilEli Mix E Vx
i BE nJ E M * E{x ] E +v
{ B `138,600/- E ilEli Mix E <nix Vx
E J En c *

2.22 xx x E +x . .. n< u
13.05.1992 E + E <x . E { MB
E E{x E {I {k E {h +ih x M
* inx, E {nM E iJ E{x E
x M< + =E n =x { Pi i
={S + +vE { <E E * ={H +n E
{h{ E +Vx E nPv x x M
*

2.22 As per the order of the Honble Special Court, the

delivery of shares on 13.05.1992, by M/s V B Desai to
AllBank Finance Ltd., constituted complete transfer of
property in the shares in favour of the Company.
Accordingly, the Company became the owner of the
shares from the date of delivery of the shares and was
entitled to all accretions and rights declared thereafter.
Pursuant to the abovementioned order, the acquisition
of the shares has been considered as Long Term
Investment.

217

+E <xx .
AllBank Finance Ltd.

2.23 +O +E, i { E E]i, |{ +E {,

|{ V E { B +O +xM E lli
31.03.2014 E `1060.62 J (lli 31.03.2013
E `1034.12) * Ex B +{ E
z i { Vx i i *

2.23 Advance income tax, tax deducted at source, income

tax refund receivable, interest tax refund receivable and
advance fringe benefit tax amounted to ` 1060.62 lakhs
as on 31.03.2014 (` 1034.12 lakhs as on 31.03.2013)
are pending adjustment at various stages of
assessments and appeals.

2.24 B b]b <{B E Mhx

2.24 Calculation of Basic & Diluted EPS

(` )

/ Amount In `)

2013-14

2012-13

36,983,818

36,257,537

1,500,000

1,500,000

1,500,000

1,500,000

1,500,000

1,500,000

100

100

24.66

24.17

E {Si (x] E { |H)/

Profit after Tax ( used as Numerator ) (`)

E + <C] E J /
Number of Equity Share at the beginning of the year

E +i <C] E J /
Number of Equity Share at the end of the year

E nx E <C] E i +i J
(bxx] E { |H)
Weighted average number of Equity Shares outstanding during
the year ( used as denominator )

<C] E x /
Nominal value of Equity Share (`)

|i + b<]b +Vx /
Basic and diluted earnings per Share (`)

2.25

SE E{x E Miv BE |J Jb
+li {V V + r Miv E +iMi +i
+ ME Jb E +iMi +i: i xn
JE lx u V J xE (BB -17) Jb
{]M +{Ii Jb {] E |E]Eh |V x
*

2.25 As the companys business activity falls within a single

primary business segment viz. dealing in Capital Markets
and allied activities and in a single geographical
segment, the disclosure requirements of Accounting
Standard ( AS 17 ) Segment Reporting issued by
The Institute of Chartered Accountants of India are not
applicable.

2.26

i xn JE lx u V J xE 22
+ { E i J E +x +lMi E E
+i { xvi E Vi CE BE +v E nx
E M + B J M + +i i BE
+l +vE {i +v |ii x I *
+lMi E +i E xvh i E Vi V
=Si i { xSi E {{i E M
+ ={v M VE {I +lMi E +i
E VBM* B +i E |iE ix{j il E
=xE |{i E {x: xvh Ex i I E Vi
*

2.26 In accordance with Accounting Standard 22 Accounting for Taxes on Income issued by The Institute
of Chartered Accountants of India, Deferred Tax is
recognized on timing differences being the difference
between taxable income and accounting income that
originate in one period and are capable of reversal in
one or more subsequent periods. Deferred tax assets
are recognized only when there is reasonable certainty
that there is sufficient future taxable income will be
available against which such deferred tax assets will be
realized. Such assets are reviewed at each Balance
Sheet date to reassess realisibility thereof.

2.27

+ + E +{iEi ={v Sx E +x
EB MB +xvh <G, P B v =t E
+vx, 2006 E +iMi {i E< G + P
=t x *

2.27 To the extent identified from the information available

from suppliers of goods and services, there are no macro
and small enterprises being a supplier as defined under
Micro, Small and Medium enterprises Development Act,
2006.

2.28

i xn JE lx u V J xE (BB28) <{] + B] E +x E< +xVE x

x *

2.28 There is no impairment loss in terms of the Accounting

Standard ( AS 28 ) Impairment of Assets issued by
The Institute of Chartered Accountants of India.

218

+E <xx .
AllBank Finance Ltd.

2.29

i xn JE lx u V J xE (BB18) vi {] |E]Eh E +x vi {]
|E]Eh xxx *

2.29 Related Party disclosures as required in terms of

Accounting standard ( AS 18 ) Related Party
Disclosures issued by the Institute of Chartered
Accountants of India are as under :

bM E{x-<n E

Holding Company Allahabad Bank

(
l V { V/Interest on Fixed Deposit
|vx nB/Management Contracts
|{i/Receiving of Services
n V/Term Deposit
S V/Current Deposit
xn/Creditors

2013-14

2012-13

7,096,305

90,22,571

1,680,000

16,56,383

357,331

78,000,000

7,50,97,200

1,103,354

14,92,685

45,22,419

11,99,528

/ Amount In `)

={H vi {] E Sx = iE |E] E
M< Vix ={v Sx E +v { |vx u +xvi
E M * J{IE u < { E M
*

The above related party information is disclosed to the

extent such parties have been identified by the
management on the basis of information available. This
is relied upon by the auditors.

2.30 |vx E , E{x E x S +i,

@h B +O E Mi V E E ix {j
n< M< E *

2.30 In the opinion of the Management, current assets, loans

& advances have a value on realization in the ordinary
course of the Companys business which is at least equal
to the amount at which they are stated in the Balance
Sheet.

2.31 2007-08 E J{I {] EB MB J{I

]{{h E +x x E bM V ]] ]17,040 <C] , +Bb .-66,000 <C]
+ x x -7,800 <C] , E v <n
E ] J b{V] vi BE {lE b{V]
Ji C<] +<b-10123882 E l J M*

2.31 As per the audit observation made in audit report of the

year 2007-08, separate depository account vide client
ID - 10123882 with Allahabad Bank, Fort Branch
Depository, had been duly opened in regard to the
holding of investments, such as Tata Motors 17,040
equity shares, OMDC Ltd. 66,000 equity shares and
Winsome Yarns 7,800 equity shares.

2.32 <n E xx . (ix +E <x .)

+IE + {i l* E{x +{x xi
E nx <n E + <E C<] E +
|ii vh Ei * < |E <n E xx
. <x |ii E +IE E { E E l*
|ii <n E xx E x l
]] ], +Bb . + x x E
|ii E V E + E <x . E b{ Ji
J M< * <x E |ii E E{x E
+i x x M * <E +iH E{x u 31 S,
2014 E {i E nx <x E{x |{i
`17,07,889/- E E E{x E +
x x M + <x S ni E { n M
*

2.32 Allahabad Bank Nominees Ltd. (presently named

AllBank Finance Ltd.) was engaged in custodial services.
The Company, in regular course of business, used to
hold securities on behalf of Allahabad Bank and its
clients. Allahabad Bank Nominees Ltd., as such, was
acting as Custodian of these securities. All these
securities are in the name of Allahabad Bank Nominees
Ltd. except securities of companies namely Orissa
Mineral Development Company Ltd., Tata Motors Ltd.,
Winsome Yarns Ltd. which are held in the DP Account
of AllBank Finance Ltd. None of these securities are
considered as assets in the books of the Company.
Moreover, dividend amounting to `17,07,889/- received
by Company during the year ended 31st March, 2014
from these companies has not been considered as
income in the books of the Company and the same has
been shown as current liabilities.

E{x x < v ij vE VE
+x + E <x . <x E x /x
Ei * v Ei E <n E

The Company has also obtained independent legal

opinion in this regard as per which, AllBank Finance
Limited is not / could not be the owner of these shares.

219

+E <xx .
AllBank Finance Ltd.

<x E + E <x . +{x x +ii

Ex E B Exx { En *

The legal opinion also says that Allahabad Bank is legally

entitled to have the shares transferred in their name
from AllBank Finance Limited.

={H E{x E E l-l vi , +Bb

E E UcE, Vx{ +{ x, EEi
u +ih E r E +n V E M , <n
E ]b E {I +ih E |Gvx *

The shares of the said companies, as well as the related

dividends are under process of transfer in favour of
Allahabad Bank Limited, except the shares of OMDC
limited on which restraining order against transfer has
been issued by the Alipore Court, Kolkata.

2.33 E{x (J xE) x 2006 +vSi J xE

15 ES E +iMi +{Ii |E]x xS nB MB

2.33 The disclosures required under Accounting Standard 15

Employee Benefits notified in the Companies
(Accounting Standards) Rules 2006 , are given below :

{i +nx Vx

Defined Contribution Plan

xv ES E +nx `2,60,443/- ({U `2,22,271/-)

Employers Contribution to Provident Fund: `2, 60,443 /(Previous Year `2, 22,271/-)

{i Vx

Defined Benefit Plan

OS] + +E vi ni E ix |VC]b
x] Gb] {ri E |M Ei B EE x E +v {
xvi E Vi *

The present value of obligation relating to gratuity and leave

is determined based on actuarial valuation using the Projected
Unit Credit Method.

B. {i ni E +l + <i E vx
OS]

a. Reconciliation of opening and closing balances of

Defined Benefit Obligation Gratuity

(+Ec ` /Figures in `)
2013-14

2012-13

Defined Benefit obligation at beginning of the year

S Mi /Current Service Cost
V Mi /Interest Cost
EE x/() / Actuarial Losses / ( Gain )
+n EB MB /Benefits Paid

4,55,340
60,620
37,573
(38,300)
-

368,122
46,369
32,211
8728
-

Defined Benefit obligation at year end

5,15,323

455,340

E | {i ni/

E +i {i ni /

. xVi +i E =Si E +l + <i E

vx

b. Reconciliation of Opening and closing balances of fair

value of plan assets

(`

2013-14

2012-13

Fair value of Plan Assets at the beginning of the year

xVi +i { +{Ii |i / Expected return on plan Assets
EE /(x)/ Actuarial Gain / (Losses)
ES E +nx/Contributions by Employer
+n EB MB /Benefits Paid

144,231
(144,231)

Fair value of Plan Assets at year end

/ In `)

E | xVi +i E =Si /

E +i xVi +i E =Si

. +i + vi+ E =Si E vx

c. Reconciliation of fair value of assets and obligations

(`
31st S/March 2014

xVi +i E =Si /Fair value of Plan Assets

ni E ix /Present value of obligation
ix {j +Yi /Amount recognized in Balance Sheet
220

5,15,323
5,15,323

31st

S/March,2013
455,340
455,340

/ In `)

+E <xx .
AllBank Finance Ltd.

b. E nx +Yi JS

d. Expenses recognised during the year

(`

S Mi/Current Service Cost

V Mi/Interest Cost
xVi +i { +{Ii |i/Expected return on Plan Assets
EE ()/x /Actuarial (gain) / loss
-x Ji +Yi /
Expenses Recognized in Profit and Loss Account

<. EE {xx
]] ] : B+< (1994-1996) +i

2013-14

2012-13

60,620

46,369

37,573

32,211

(38,300)

(8728)

59,893

87,308

/ In `)

e. Actuarial assumptions
Mortality Table : LIC (1994 1996 ) Ultimate

{i /Year ended
x< n (|i )/Discount rate ( per annum)
ix r (|i )/ Salary Escalation ( per annum )

31st S/March 2014

31st

9.31%
7.00%

2.34 {U E +Ec
E{x x < +v E M Eh E +x{ {U E
+Ec E {xMEi E M *

S/March,2013
8.75%
7.00%

2.34 Previous years figures

The company has reclassified previous years figures to
conform to this periods classification.

b E B B E +

il E {] E +x
Ei B.{. S]V Bb E

For and on behalf of the Board

As per our report of even date

For S. P. Chatterjee & Co.

xn JE
Chartered Accountants

{VEh J /
Firm's Registration Number : 303081E

B.{. S]V / S. P. Chatterjee

{]x / Partner
m=g;t mkgt / Membership No.004697
EEi, 23 +|, 2014 /

E ` / Rakesh Sethi
+vI / Chairman
E. B. E]x/ K. S. Venkataraman
xnE/ Director

Kolkata, 23rd April, 2014

221

]. +. S / T.R.Chawla
xnE / Director

n / Subir Das
xnE / Director
/ Shreya Shah
E{x S / Company Secretary

+E <xx .
AllBank Finance Ltd.

J{IE E {]

AUDITORS REPORT

nMh +E <xx ]b,

TO THE MEMBERS OF ALL BANK FINANCE LIMITED

x + E <x . E k h E J{I E
V 31S, 2014 E lli ix{j, = E {i
+v i -x J h il xEn | h B i{h
J xi E il +x JiE Sx ] *

We have audited the accompanying financial statements of

All Bank Finance Limited, which comprise the Balance Sheet
as at March 31, 2014 the Statement of Profit & Loss, and Cash
Flow Statement for the year then ended on that date, and a
summary of significant accounting policies and other
explanatory information.

k h i |vx E ni

MANAGEMENTS RESPONSIBILITY FOR THE FINANCIAL

STATEMENTS

|vx E ni <x k h E i Ex V E{x

+vx, 2013 E v 133 E v E{] E j E
nxE 13 i 2013 E x {{j 15/2013 E l {`i
E{x +vx, 1956 E +iMi +vSi JMi xnb E
+x i xi: Ei J ri E +x E{x E
k li, k Ex{nx B E{x E xEn | E
+ =Si li |ii E* < ni k h E i
i |ME +iE xjh E i Ex, Exx Ex +
=E JJ Ex V i{h l h, vJvc
+l SE E Eh, H *

The Management is responsible for the preparation of these

financial statements that give a true and fair view of the financial
position, financial performance and the cash flows of the
Company in accordance with the accounting standards notified
under the Companies Act, 1956, read with the General Circular
15/2013 dated 13 September 2013 of the Ministry of Corporate
Affairs in respect of section 133 of Companies Act, 2013.The
responsibility includes the design, implementation and
maintenance of internal control relevant to the preparation and
presentation of the financial statements that give a true and
fair view and are free from material misstatement, whether
due to fraud or error.

E{x x 25.07.2011 i |ii B BCSV b S]

E E { {VEh E l |h{j |{i E * <
{ E{x 11.05.2005 iE i V E M EM
k E{x E { {VEi l* t{ M EM k E{x E
+iMi E< {i E n M< il{ {U Miv E EU
Ji + V *

The company has obtained permanent certificate of registration

as a Merchant Banker at Securities and Exchange Board of
India effective from 25.07.2011. Earlier to this, the Company
was registered with the Reserve Bank of India as Non-Banking
Finance Company upto 11.05.2005. Though the activities under
Non-Banking Finance Company had been discontinued, some
accounts of past activities are still continuing.

i V E u V M EM k E{x J{IE
{] (V E) xn 2000 E +x E{x 25.07.2005
S] EM E{x x M< *

As required by Non Banking Financial Companies Auditors

Report (Reserve bank) Directions, 2000, issued by the
Reserve Bank of India, no report is made as the company
became Merchant Banking Company with effect from
25.07.2005.

J{IE E ni
ni J{I { +vi <x k h {
+{x nx * x +{x J{I i xn JE
lx u V xE J{I E +x E * =x xE
+{Ii E xi{E +{I+ E +x{x E +
Vx x E J{I E x{ni E V Si +x
|{i E C Ei k h i{h l h
H *
E J{I E J{I I|{i Ex E
|G x{ni E Vi + B k h |E]Eh
E Vi * Sx Vx |G J{IE E xh { vi
i V k h i{h l h E VJ
E xvh, E{] +l SE E Eh, i * <x VJ
E xvh Ex J{IE E{x E i + {li E
+x Si J {I v E {J i Ex i k
h E {] |iiEh |ME +iE xjh {
Si S Ei , {i l E +iE xjh E |i
{ E< +i nx E |Vxl x* J{I |M <
M< J xi E ={Hi B |vx u EB MB J |CEx
E Sii E l l k h E Oi& |iiEh E
Ex i *

AUDITORS RESPONSIBILITY
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in
accordance with the Standards on Auditing issued by the
Institute of Chartered Accountants of India. Those standards
require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about
whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit
evidence about the amounts and disclosure in the financial
statements. The procedures selected depend upon the
auditors judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessment, the auditor
considers the internal control relevant to the Companys
preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion
on the effectiveness of the entitys internal control. An audit
also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting
estimates made by the management, as well as evaluating
the overall presentation of the financial statements.

222

+E <xx .
AllBank Finance Ltd.

E u |{i J{I I J{I

|nx Ex i {{i B Si *

We believe that the audit evidence we have obtained is

sufficient and appropriate to provide a basis for our audit
opinion.

+i
il k VxE + nB MB {]Eh
E +x k J i xi: Ei J ri E
+x{ + x{I li |ii Ei :

OPINION
In our opinion and to the best of our information and according
to the explanation given to us, the financial statements give a
true and fair view in conformity with the accounting principles
generally accepted in India,

(i)

ix-{j E , 31 S 2014 E E{x E li;

(i)

(ii)

-x h E , = iJ E {i i
E{x E ; il

(ii) In the case of the statement of Profit & Loss, of the profits
for the year ended on that date; and

(iii)

xEn | h E , = iJ E {i i
xEn |*

(iii) In the case of the Cash Flow Statement, of the Cash Flows
for the year ended on that date.

In the case of the Balance Sheet, of the state of affairs of

the company as at March 31, 2014.

+x vE B xE +{I+ v {]

REPORT ON OTHER LEGAL AND REGULATORY

REQUIREMENTS

1. +vx E v 227 E ={v (4B) E +x i E

Exp E u V E{x (J{I) +n 2003(+n)
lvi E +{I+x =H +n E { 4 + 5
xn] E v +xv h ni *

1. As required by the Companies ( Auditors Report ) Order,

2003 (the Order), as amended, issued by the Central
Government of India in terms of sub-section (4A) of section
227 of the Act, we give in the Annexure a statement on the
matters specified on paragraph 4 and 5 of the said Order.

2. +vx E v 227(3) E +{I E +x {]

Ei E

2. As required by section 227(3) of the Act, we report that:

x SxB B {]Eh |{i EB V

k VxE B E +x J{I
E |Vxl +E l*

(a)

We have obtained all the information and

explanations which to the best of our knowledge and
belief were necessary for the purpose of our audit;

() , V iE x E VS E ,
= |ii i E E{x x v u +{Ii J
E Si { J *

(b)

In our opinion proper books of account as required

by law have been kept by the Company so far as
appears from our examination of those books ;

() ix {j, x h B xEn | h, V
< {] vi , J E +x{ *

(c)

The Balance Sheet , the Statement of Profit and Loss,

and the Cash Flow Statement dealt with by this report
are in agreement with the books of account;

(b) ix {j, x h B xEn

| h, E{x +vx, 2013 E v 133 E
v E{] E j E nxE 13 i
2013 E x {{j 15/2013 E l {`i E{x
+vx, 1956 E +iMi +vSi JMi xnb
+x{x Ei *

(d)

In our opinion, the Balance Sheet and Statement of

Profit and Loss, and Cash Flow Statement comply
with the Accounting Standards notified under the
Companies Act, 1956; read with the General Circular
15/2013 dated 13 September 2013 of the Ministry of
Corporate Affairs in respect of section 133 of
Companies Act, 2013.

(<)

(e)

On the basis of written representations received from

the directors as on 31 March, 2014, and taken on
record by the Board of Directors, none of the directors
is disqualified as on 31 March, 2014, from being
appointed as a director in terms of clause (g) of subsection (1) of section 274 of the Companies Act,
1956.

(B)

31S 2014 E lli xnE |{i Ji

+nx E +v { + xnE b E +J
E +x 31 S 2014 E lli E< xnE
E{x +vx E v 274 E ={ v (1) E Jb
(V) E +x xnE E { xH x E +M
x { M *

:tl& EEi
nxE : 23 yit, 2014

Ei B.{. S]V Bb E{x

xn JE
{VEh J 303081E
B.{. S]V
{]x
ni J 004697

Place : Kolkata
rd

Date: 23 April, 2014

223

For S. P. CHATTERJEE & CO.

Chartered Accountants
Firm Registration Number
303081E
S.P.Chatterjee
Partner
Membership No. 004697

+E <xx .
AllBank Finance Ltd.

J{IE E {] E +xv

Annexure to the Auditors Report

+E <x E vE E il E {] E
{O 3 E n , i + k VxE il
+ |ii E M< Sx B {]Eh E +x il
J{I E x G u VS E M< B
+J E v {] Ei E

With reference to paragraph 3 of our report to the

Shareholders of AllBank Finance Limited of even date, we
report that, in our opinion and to the best of our knowledge
and belief and as per the information and explanations
furnished to us and the books and records examined by us in
the normal course of audit:

i)

ii)
iii)

(B) E{x x jiE h B +S +i E li

i { nJx E B Si Eb E JJ
E *
() {] E M E 31 S 2014 E {i
{ |vx u i +i E iE i{x x
E M * il{ i{x E BE xi EG
|Si V S iEMi + V E
i M B i{x E nx E< i{h Mi
x {< M<*
() 31 S 2014 E {i E nx E< l
+i x{]< x M<, <B E{x E M<M +x
Exx < |i x <*
E{x E E |Ei E +x x E S E
+Ei x *
z
31 S 2014 E {i E nx E{x x E{x
+vx, 1956 E v 301 E +iMi +xIi V]
E E{x, |i`x {] E/ x E<
|ii +|ii @h n x =x *

i)

(b) It has been explained that, the management, as at

the year ended on 31st March 2014, has not
physically verified the fixed assets. However, there
is a regular program of verification at regular intervals
which, in our opinion, is reasonable and as explained
to us, no material discrepancies have been noticed
on such verification.
(c) No fixed assets were disposed off during the year
ended 31st March, 2014, hence it did not affect the
going concern identity of the company.
ii)
iii)

The nature of business of the company does not warrant

holding of inventory.
z

The company has during the year ended 31st March,

2014 not taken any loans, secured or unsecured from
companies, firms or other parties covered in the
register maintained under Section 301 of the
Companies Act, 1956.

B V E{x x E Jn +l {]]
E +i E{] V+ E +iMi +O n ,
V n B +x i B +xv, |l o] E{x E
i E |iE x *

In cases where the company has made advances

under hire purchase or lease agreement or intercorporate deposits, the rate of interest and other
terms and conditions are not prima facie prejudicial
to the interests of the company.

B V E Mix E E{x u E Vi
* SE E +x{V +i E v E{x
u {{i |vx E M *
z B V +in { BE J +vE ,
E{x u vx B V E i =Si En
=`B MB *
il n M< VxE B {]Eh E +x
E{x E +E il l +i E Jn + |nx
Ex E <E E { E +x {{i +iE
xjh |h * x +iE xjh c J E
vx Mi x E E< x { *

Payments of principal and interest are being

recovered by the company and in cases of default
adequate provisions are being made.

In cases where the overdue amount is more than

` 1 Lakh, reasonable steps have been taken by the
company for recovery of principal and interest.

iv)

(a) The company has maintained proper records

showing full particulars, including quantitative details
and situation of its fixed assets.

iv) In our opinion and according to the information and

explanations given to us, there are adequate internal
control procedures commensurate with the size of the
company and the nature of its business, for the purchase
of fixed assets and for the rendering of services. We have
not observed any continuing failure to correct major
weakness in the internal control system.

iv)

n M< Sx + {]Eh E +x E{x x B E<

xnx x E V E{x +vx E v 301 E
+x V] +Ji Ex E +Ei *

v)

vi)

E{x x Vxi E< V E x E + {h{

i V E u V nxn B E{x +vx
1956 E v 58B, 58BB +l +x Mi ={v |V x
*

vi) The company has not accepted any deposit from the
public and consequently the directives issued by the
Reserve Bank of India and the provisions of Sections
58A, 58AA or any other relevant provisions of the
Companies Act, 1956 and rules framed there-under are
not applicable.

224

In accordance with the information and explanations

given to us, the company has not entered into any
transactions which are required to be recorded in the
register in pursuance of Section 301 of the Companies
Act, 1956.

+E <xx .
AllBank Finance Ltd.

E{x E +E il E |Ei E +x
E{x E { xn JE E J {I
Ex E BE +iE |h *

vii) In our opinion, the company has an internal audit system

commensurate with the size and nature of its business.

viii) nB MB {]Eh E +x Exp E x E{x +vx,

viii) As explained to us, the maintenance of cost records under

clause (d) of sub-section (1) of section 209 of the
Companies Act, 1956 has not been prescribed by the
Central Government for the Company

vii)

1956 E v 209(1)(P) E +iMi E{x E Mi Eb

B J Jx i xvi x E *
ix)

n M< Sx + {]Eh il u VS EB MB
E{x E +J E +x

ix) According to the information and explanations given to

us and the books and records produced and examined
by us -

(B) E{x xv, + E, E, ={ E il +x

vE n i +ni vE n E Si
|vE E V Ex E xi * nB
MB {]Eh E +x 31 S 2014 E lli
+E, E, ={E vi +ni n
<E n x E il U +vE +v iE
i x *

(a) The company is regular in depositing undisputed

statutory dues including provident fund, income tax,
service tax, and any other statutory dues with the
appropriate authorities. As explained to us, no
undisputed amounts payable in respect of income
tax, service tax, and cess were in arrears as at 31st
March,2014 for a period of more than six months
from the date they become payable.

() V vE E n E Eh V x EB MB
B E { i =E h xxx
:

(b) The statutory dues that have not been deposited

with the appropriate authorities on account of dispute
and the forum where the dispute is pending are given
below:-

v E x

n E { J

vi E +v

E S { n i

Name of the statute

Nature of dues

Period to which the

amount relates

Forum where the dispute is pending

+E +vx, 1961

+E xvh

xvh

+<.].B.]. EEi

Income Tax Act, 1961

Income Tax

Amount in lakh

85.74

+E +vx, 1961 +E xvh

Income Tax Act, 1961

Income Tax

9.56

Assessment Year 2003-04

Income Tax Appellate Tribunal Kolkata

xvh

+<.].B.]. EEi

Assessment Year 2009-10

Income Tax Appellate Tribunal Kolkata

x)

E{x E E< S P] x + 31 S 2014 E

{i k J{I +v B =
iiE { E E< xEn P] x =` *

x)

xi)

+ n M< VxE B {]Eh E

+x E{x x E E E E SEx E< SE x E
* E{x x x i E k l E< @h +
x 31S 2014 E {i E nx E< bS V
EB *

xi) In our opinion and according to the information and

explanations given to us, the company has not
defaulted in repayment of dues to bank. The company
has not taken any loan from financial institutions nor
has issued debenture during the year ended 31st
March, 2014.

xii)

B V E Jn B {]] E E +iMi
+O nB MB , E{x x {{i +J B niV E
JJ E *
E{x S]b xv/S+ x] b/
<] x + inx +n E Jb 4 (xiii) E
|vx |V x *

xii) The company has maintained adequate records and

documents where advances have been made under
hire purchase and lease agreements.

xiv)

nB MB {]Eh E +x E{x , |ii, bS

B +x x E bM +l ]bM x Ei +
inx +n E Jb 4 (xiv) E |vx |V x *

xiv) As explained to us, the company is not dealing or

trading in shares, securities, debentures, and other
investments and accordingly, the provisions of clause
4(xiv) of the order is not applicable.

xv)

E{x x E +x E u E + k l+
M @h E B E< M] x n * +iB, +n E Jb4 (xv) E |vx E{x { M x *

xv) The company has not given any guarantee for loans
taken by others from banks or financial institutions and
accordingly, the provisions of clause 4(xv) of the order
is not applicable.

xiii)

The company does not have accumulated losses and

has not incurred cash losses either in the current year
ended 31st March, 2014 covered by our audit and
during the immediately preceding financial year.

xiii) In our opinion, the company is not a chit fund / nidhi/

mutual benefit fund / society and accordingly the
provisions of clause 4(xiii) of the order are not
applicable.

225

+E <xx .
AllBank Finance Ltd.

31 S 2014 E {i E nx E{x x J{I E

+iMi E< n @h x * +iB,
+n E Jb-4 (xvi) E |vx E{x { M x *
xvii) n M< Sx + {]Eh E +v { + E{x E
ix {j E O VS Ex { E +{EE
+v { B E< xv x =M M< VE |M
nPEE x i E M *

xvi) The company has not taken any term loan during the
year ended 31st March, 2014 and accordingly, the
provision of clause 4(xvi) of the order is not applicable.

xviii)

E{x x E{x +vx 1956, E v 301 E +iMi

+xIi V] {] + E{x E 31 S
2014 E {i E nx +vx E +]x x
E inx, +n E Jb 4(xviii) E |vx E{x {
M x *

xviii) The company has not made any preferential allotment

of shares to parties and companies covered in the
register maintained under Section 301 of the
Companies Act, 1956 during the year ended 31st
March, 2014. Hence the provision of clause 4(xviii) of
the order is not applicable.

xix)

E{x x 31S 2014 E {i E nx E< bS

V x E * inx, +n E Jb 4(xix) E |vx
E{x { M x *
E{x x 31 S 2014 E {i E nx {E < E
VB vx E =M x E inx, +n E Jb 4(xx)
E |vx E{x { M x *

xix) The company has not issued any debenture during the
year ended 31st March, 2014. Hence the provisions of
clause 4(xix) of the order are not applicable.

i xi Ei J{I {{] E +x
u E{x E +J + E VS E nx
x i E{x E{x u E |E E vJvc EB
Vx E P]x x +<, x <E VxE , x
|vx u B E P]x E Sx n M< *

xxi) In course of our examination of the books of account

carried out in accordance with the generally accepted
auditing practices, we have neither noticed any
instance of fraud on or by the company nor have we
been reported of such case by the management.

xvi)

xx)

xxi)

:tl& EEi
nxE : 23 yit, 2014

Ei B. {. S]V Bb E{x
xn JE
{VEh J 303081E
B. {. S]V
{]x
ni J 004697

xvii)Based on information and explanations given to us and

on an overall examination of the balance sheet of the
company, in our opinion, there are no funds raised on
short term basis which have been used for long term
investments.

xx) The company has raised no money by public issue

during the year ended 31st March, 2014. Hence the
provisions of clause 4(xx) of the order are not
applicable.

Place : Kolkata
rd

Date: 23 April, 2014

226

For S. P. CHATTERJEE & CO.

Chartered Accountants
Firm Registration Number
303081E
S. P. Chatterjee
Partner
Membership No. 004697

<B b]/E Ji h i
(iE { vh Ex vE i)
/ .............................................................................Binu <B u v E
Ji V Ex i <n E E |vEi Ei /:
/ . BB .
E J
E Ji E h
B. E E x

:___________________________________________

. J E x B {i (E B J)

:___________________________________________
:___________________________________________

. B+<+ SE { =Ji
E E J E 9 +E E B+<+ E]

:___________________________________________

b. +<BB Eb

:___________________________________________

<. Ji E |E (Si/S)

:___________________________________________

B. SEE l =Ji Ji J

:___________________________________________

V. vE E B]b Eb i ]x J/
< x.

:___________________________________________

Binu Ph Ei E >{ nB MB h + {h * n Mi + +v Sx nx E Eh xnx

i +l xnx x {i i <n E E =kn x `>M*

. BB ]b
x]: <n E
77/2B, V b
EEi-700 029
vE E iI

Eb J E ]Ei E i{x i E{ +{x =H Ji E v +{E E u V SE E xi E {z Mx

E*
n +{ b] vh E i E{ +{x <B b] v vi b{V] {]{] (b{) E =E
u xvi ] V*
227

FORM FOR ECS MANDATE/BANK ACCOUNT PARTICULARS

(FOR SHAREHOLDERS HOLDING SHARES IN PHYSICAL FORM)

I/We---------------------------------------------------------------- do hereby authorize Allahabad Bank to credit my dividend amount directly

to my bank account by ECS.
My/Our Folio No. ALB..................................
No. of Shares...............................................
Particulars of Bank Account
A. Bank Name

B. Branch Name & Address (only CBS Branch)

:
:

C. 9 Digit MICR Code No. of the Bank Branch

Appearing on the MICR Cheque

D. IFSC Code

E. Account Type (Saving/Current)

F. Account No. as appearing in the Cheque Book

G. Telephone No. with STD Code/

Mobile No. of shareholder

I hereby declare that the particulars given above are correct and complete. If the transaction is delayed or not effected at all for
reasons of incomplete or incorrect information, I would not hold Allahabad Bank responsible.
Mail to

M/S MCS Limited

Unit: Allahabad Bank
77/2A, Hazra Road
Kolkata-700 029
Signature of the shareholder

Please attach a blank cancelled cheque issued by your bank relating to your above account for verifying the accuracy of the
code numbers.
In case you are holding shares in demat form, kindly send the ECS Mandate to the concerned Depository Participant
(DP) directly, in the format prescribed by the DP.

228