001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year...

192
<±ÉþɽþɤÉÉnù ¤Éé ALLAHABAD BANK |ÉvÉÉxÉ EòɪÉÉÇ ±ÉªÉ : 2, xÉä iÉÉVÉÒ ºÉÖ ¦ÉÉ¹É ®úÉä b÷, EòÉä ±ÉEòÉiÉÉ-700 001 HEAD OFFICE: 2, NETAJI SUBHAS ROAD, KOLKATA 700 001 www.allahabadbank.in {ÉÞ. ºÉÆ. / Page No. rl=uNfUtü, ÖtuFtvheGfUtuk ytr= fUe mqae 02 List of Directors', Auditors' etc +vªÉIÉ B´ÉÆ |ɤÉÆvÉ ÊxÉnäù¶ÉEò EòÉ ºÉÆnäù¶É 03-07 Chairman & Managing Director's Message JtrMofU mtbtàg ciXfU fUe mqalt 08-12 Notice of Annual General Meeting ¤ÉéEò Eäò ÊxÉnäù¶ÉEòÉå EòÒ Ê®ú{ÉÉä]Çõ 13-26 Directors’ Report of the Bank ¤ÉɺÉä±É - II |ÉEò]õÒEò®úhÉ 27-54 Basel - II Disclosure fUthvtuhux dJluoàm {É®ú Ê®ú{ÉÉä]Çõ 55-78 Report on Corporate Governance fUthvtuhux dJluoàm {É®ú ±ÉäJÉÉ{É®úÒIÉEòÉå fUt ŒbtKvºtõ Auditors’ Certificate on 79 Corporate Governance ¤ÉéEò Eäò Ê´ÉkÉÒªÉ Ê´É´É®úhÉ 80-122 Financial Statements of the Bank ¤ÉéEò Eäò ±ÉäJÉÉ{É®úÒIÉEòÉå EòÒ Ê®ú{ÉÉä]Çõ Auditors’ Report of the Bank 123-124 JtrMofU år;Ju=l ANNUAL REPORT ʴɹɪÉ-ºÉÚ SÉÒ / contents {ÉÞ. ºÉÆ. / Page No. ºÉ¨ÉäÊEòiÉ Ê´ÉkÉÒªÉ Ê´É´É®úhÉ 125-151 Consolidated Financial Statement ºÉ¨ÉäÊEòiÉ Ê´ÉkÉÒªÉ Ê´É´É®úhÉ {É®ú ±ÉäJÉÉ{É®úÒIÉEòÉå EòÒ Ê®ú{ÉÉä]Çõ 152-153 Auditors’ Report on Consolidated Financial Statement +Éì±É ¤ÉéEò ¡òÉ<xÉäxºÉ ʱÉ. Eäò ÊxÉnäù¶ÉEòÉå EòÒ Ê®ú{ÉÉä]Çõ 154-156 Directors' Report of AllBank Finance Ltd. +Éì±É ¤ÉéEò ¡òÉ<xÉäxºÉ ʱÉ. Eäò rJúteg rJJhK 157-180 Financial Statements of AllBank Finance Ltd. +Éì±É ¤ÉéEò ¡òÉ<xÉäxºÉ ʱÉ. Eäò ±ÉäJÉÉ{É®úÒIÉEòÉå EòÒ Ê®ú{ÉÉä]Çõ 181-185 Auditors' Report of AllBank Finance Ltd. ={ÉκlÉÊiÉ {ÉSÉÔ B´ÉÆ |É´Éä¶É {ÉjÉ 186 Attendance Slip cum Entry Pass mqaecõ;t fUhth fuU Fkz 49V fuU +xÉֺɮúhÉ |ɨÉÉhÉ{ÉjÉ 187-188 Certificate Pursuant to clause 49V of the Listing Agreement vhtuGe ¡òɨÉÇ 189-190 Proxy Form <Ç ºÉÒBºÉ ¨Éå bä ÷] ½ä þiÉÖ ¡òɨÉÇ 191-192 Form for ECS mandate ±ÉɦÉÉÆ ¶É |ÉÉ{iÉ Eò®úxÉä Eäò ʱÉB ¶ÉäªÉ®úvÉÉ®úEòÉå EòÒ {ÉÉjÉiÉÉ EòÉä ÊxÉvÉÉÇÊ®úiÉ Eò®úxÉä EòÒ +ʦÉʱÉÊJÉiÉ iÉÉ®úÒJÉ Cut off Date for ascertaining the Shareholders eligibility to get dividend 14.05.2011 |ÉÉÊvÉEÞòiÉ |ÉÊiÉÊxÉÊvɪÉÉå EòÉä ÊxɪÉÖHò Eò®úxÉä ºÉƤÉÆvÉÒ {É®úÉäIÉÒ ¡òɨÉÇ YJk mkfUÖv ŒtrË; fUe ykr;b r;r: Last date for receipt of proxy form 06.06.2011 and resolutions for appointing authorized representatives bnÀJvqKo EòɪÉÇ Gò¨É YJk ÊiÉÊlɪÉÉÄ / IMPORTANT PROGRAMMES & DATES Purbashree Auditorium, Eastern Zonal Cultural Center, Bharatiyam Cultural Multiplex, IB-201, Sector-III, Salt Lake City, Kolkata-700106 vqco¶e ytprzxturhgb, Roº]õxÉÇ WÉÉä xÉ±É Eò±SÉ®ú±É ºÉä x]õ®ú, ¦ÉÉ®úiÉÒªÉ¨É Eò±SÉ®ú±É ¨É±]õÒ{±Éä CºÉ, +É<Ç ¤ÉÒ-201, ºÉä C]õ®ú - III, ºÉÉì ±]õ ±Éä Eò ʺÉ]õÒ, EòÉä ±ÉEòÉiÉÉ - 700106 2 0 1 0 - 1 1 JtrMofU ºÉɨÉÉxªÉ ¤Éè XEòö EòÒ iÉÉ®úÒJÉ, ºÉ¨ÉªÉ J ô:tl Date, time & Venue of Annual General Meeting Œt;& 10.30 A.M. 10.06.2011

Transcript of 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year...

Page 1: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

1

���������������� ALLAHABAD BANK

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

www.allahabadbank.in

��������� / Page No.

● rl=uNfUtü, ÖtuFtvheGfUtuk ytr= fUe mqae 02

List of Directors', Auditors' etc

● ����� ���������������������������������� 03-07

Chairman & Managing

Director's Message

● JtrMofU mtbtàg ciXfU fUe mqalt 08-12

Notice of Annual General Meeting

● ������������������������������������ 13-26

Directors’ Report of the Bank

● ������!��"�II ����� �����#� 27-54

Basel - II Disclosure

● fUthvtuhux dJluoàm��������������� 55-78

Report on Corporate Governance

● fUthvtuhux dJluoàm �����!��$��������������fUt ŒbtKvºt

Auditors’ Certificate on 79

Corporate Governance

● �������������%������������#� 80-122

Financial Statements of the Bank

● ����������!��$���������������������������

Auditors’ Report of the Bank 123-124

JtrMofU år;Ju=lANNUAL REPORT

������������ / contents

��������� / Page No.

● ��&�����'�����%������������#� 125-151

Consolidated Financial Statement

● ��&�����'�����%������������#�������!��$��������������������������� 152-153

Auditors’ Report on Consolidated

Financial Statement

● �(!��������)��*��������!��������������������������������� 154-156

Directors' Report of AllBank Finance Ltd.

● �(!��������)��*��������!������ rJúteg rJJhK 157-180Financial Statements ofAllBank Finance Ltd.

● �(!��������)��*��������!�������!��$��������������������������� 181-185

Auditors' Report of AllBank Finance Ltd.

● +��,�-��'����.�/� ��������������0� 186

Attendance Slip cum Entry Pass

● mqaecõ;t fUhth fuU Fkz 1 2V fuU ��3����#�

bü ��&��#���0� 187-188

Certificate Pursuant to clause 49V of theListing Agreement

● vhtuGe�)��&�� 189-190

Proxy Form

● � ���������������������� ����� 191-192

Form for ECS mandate

● ����������������� ����������!� ��������������������

���0�'�����������������'���������������4��!��$�'��'�����$�

Cut off Date for ascertaining the

Shareholders eligibility to get dividend 14.05.2011

● ��������'�����'���������������������35������������������

����������)��&���YJk mkfUÖv ŒtrË; fUe ykr;b r;r:

Last date for receipt of proxy form 06.06.2011

and resolutions for appointing

authorized representatives

bnÀJvqKo������ �����YJk������������/ IMPORTANT PROGRAMMES & DATES

Purbashree Auditorium, Eastern Zonal Cultural Center,Bharatiyam Cultural Multiplex, IB-201, Sector-III,Salt Lake City, Kolkata-700106

vqco¶e ytprzxturhgb,�Ro�� !� �"���!�#����#�$%#�����!� $%&'��$%����������#�$%#����#� �(#��)��&�*�� +���,-.&����)� $%�- III&���/#� �#��������� �&�����#����������0--.-1

2 0 1 0 - 1 1

JtrMofU�������!���+�2X��3��������$%�4�&��������J ô:tlDate, time & Venue of AnnualGeneral Meeting Œt;& 10.30 A.M.

10.06.2011

Page 2: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

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��������������� ALLAHABAD BANK

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

�!�5�67������8��#��BOARD OF DIRECTORS (AS ON 31.03.2011)

6� 7��� su�� ���� =qqyt ������� ����� �������� ����������SHRI J. P. DUA Chairman & Managing Director

8� 7��� ����� �� ���� � ����� ������� ����������SHRI D. SARKAR Executive Director

9� 7��� &��� ����� ������� ����� ������� ����������SHRI M. R. NAYAK Executive Director

1� ¶e Ym. htbôJtbe ����������SHRI S. RAMASWAMY Director

:� 7��&�'��� ��3����'�� �!��$� ����������SMT. SUKRITI LIKHI Director

;� ¶e yth. Yb. a;wJuo=e ����������SHRI R.M.CHATURVEDI Director

<� 7��� ����� ����� =�3�>??���@?� ����������SHRI P.V.GUDIREDDY Director

A� ztp.� �����!�"+B�"B�&����� ������� ����������Dr. Shakeel-Uz-Zaman Ansari Director

2� ¶e dtih =tm ����������SHRI GOUR DAS Director

6C� 7��� ������D���� �3�&����� �����!�� ����������SHRI DEVESHWER KUMAR KAPILA Director

66� ztp.� ������� �����! ����� ���"�#���$�� ����������DR. VASANT BABURAO KAUJALGI Director

68� %��� ��&����� '��"��& �� ����������SHRI SUDIP CHAUDHURI Director

6� (��)� ��3���'�� ����� ������$�� �>?� ���� �������� ���*����� �M/S SUDIT K. PAREKH & CO. Chartered Accountants

8� (��)� ����� �� �>?� ������� �E �� �������� ���*����� �M/S P. A. & ASSOCIATES Chartered Accountants

9� bu0 �(��� �� ��� ��� ����+�� ����� ���� �������� ���*����� �M/S M. R. NARAIN & CO. Chartered Accountants

:� bu0 ����� ,���-�� ����� ���� �������� ���*����� �M/S S. GHOSE & CO. Chartered Accountants

5. bu0 ����� �(��� �.������� ����� ���� �������� ���*����� �M/S K. M. AGARWAL & CO. Chartered Accountants

;� bu0 �(��� ����� #�"��� ����� ���� �������� ���*����� �M/S M. C. JAIN & CO. Chartered Accountants

M/S MCS LTD. (Unit Allahabad Bank)77/2A, Hazra Road,Kolkata-700029Tel : 033-2454-1892/1893Fax : 033-24541961Email : [email protected] : www.mcsdel.com

$%�9���: �$%����8�7����$%�*8��$%;�%��9��� �/REGISTRAR & SHARE TRANSFER AGENT

bu�� &���� ��� �!��&��� >?� F��G���� "*!��HI������� ��J���K77/2A, HI�L����� ����>?����!����'��"<CC� C82� �!��)������ "� C99� 81:1"6A28M6A29)J�N��� "� C99"81:162;6*�"&��!� : [email protected] : www.mcsdel.com

#��4���(�$%�<���/AUDITORS

Page 3: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

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Chairman and ManagingDirector’s Message

Dear Shareholders,

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�Y� =66�����������1+���!����������/�����������#�����������9������0������&�����������>��� >��� �/���7�-�� ���'� ���6�� �� � ����� ��������� ���� ������� �/�#����edY_%�������)�*+�1+<�������������"��`_Yc�����-�#�/��#�7"���@A�-������������8�6��B�#��'�.���������������/#�����/���7/�������/�����/���&����&���.�����=O��B����&���������� ��H��1+��/���������� � ����5����������������7H�,��������������������'

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It is my great pleasure to place before you theAnnual Report of your Bank for the financialyear 2010-11. As the Chairman & ManagingDirector of this great institution with a richlegacy, I would like to put on record that becauseof your unstinted support your Bank hassuccessfully withstood the upheavals in theglobal as well as domestic financial markets.

There was hardening interest rate environment and high pricespirals during last financial year. The Reserve Bank of Indiahas been tightening the monetary policy and has alreadyincreased the Repo and Reverse Repo rates eight timessince March, 2010 in an effort to contain inflation. For theBank, this is also a signal for hardening of interest rates inthe current financial year.

The performance of the Bank in 2010-11 has been very goodand the Bank has lived up to its slogan of “Consistent GrowthAll the Way”. It has done better than the industry in a numberof key financial parameters. The Bank’s visibility hasincreased considerably. This led to an upsurge in publicconfidence and was reflected in the elevated and steady shareprice of the Bank. The Bank was awarded 1st prize forexcellence in MSE lending by Her Excellency the President ofIndia. The Bank was ranked at 8th position among India’sBest Banks by Business Today-KPMG study of the strongest,fastest growing and most efficient Banks in the country. AgainBusiness Today ranked the Bank 1st among India’s BestBanks in the growth of fee based income.

I am most candidly placing before you an analysis of theperformance of your Bank during 2010-11 along with a briefaccount of the Indian economic and banking scenario.

2. Economic and Banking Scenario

2.1 Indian economy has shown great resilience and hasbeen on sustainable growth path. The estimated GDPgrowth of 8.6% in 2010-11 was mainly contributed byrebounded agriculture sector performance (5.4%) andaccelerated services sector growth (9.7%).

2.2 The broad macro-economic parameters are stillconducive for achieving a high growth. Exports for theyear ending March, 2011 touched US$ 245.9 billionregistering a growth of 37.5%. There is a prediction ofnormal monsoon and coupled with this, both industryand service sectors could be growth drivers in2011-12.

2.3 It is no denying the fact that India is being confrontedwith the double edged problem of high inflation andmoderating economic growth dealing with which hasbeen the focal agenda of the policy makers. This is

Page 4: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

4

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being reflected in the rise in key policy rates in quicksuccession, the latest being the 50 basis points hikein the repo and reverse repo rates raising the rates to7.25% and 6.25% respectively in the Annual Monetaryand Credit Policy 2011-12 announced on 3rd May, 2011.The measures, taken in the series of monetary policystatements in India, have been prepared with thecommon agenda of sustaining the anti-inflationary drivekeeping the ongoing growth process sustainable.

2.4 The banking sector growth has been encouragingduring the year. On year-on-year basis, SCB’s creditgrew by 21.4% on March 25, 2011, which exceededRBI’s indicative projection of 20% for 2010-11. TheAggregate deposits of Scheduled Commerical Bank’s(SCB’s) grew by 15.8% on y-o-y basis as on March 25,2011. We expect for banking industry, a deposit growthof around 17% and credit growth of around 19% in 2012.

2.5 Your Bank has shown commendable performanceduring the year which was reflected in an increase of 7bps in market share of deposit & 8 bps in credit. Themarket share of deposits in SCBs has increased to2.31% in 2011 as against 2.24% in 2010 andcredit share increased to 2.23% in 2011 from 2.15% in2010.

2.6 The Bank has put itself into the orbit of fast growing PublicSector Banks. The market share of your bank is projectedto grow further this year. The confidence is coming fromthe capacity that we have built up over the last few yearslike implementation of 100% Core Banking Solution(CBS), Pan India presence of more than 2400 branches,introduction of structured products and establishingCentral Retail Banking Boutiques (CRBBs) etc.

3. Performance of the Bank

3.1 In the backdrop of above economic & banking scenario,your Bank has shown a commendable performance toadd to stakeholders’ value which ultimately helped inincreasing market perception manifold.

3.2 The net profit of the Bank showed a growth of 17.97% toreach Rs.1423 crore during 2010-11 from Rs.1206 crorein the preceding year. Operating profit of the Bank wentup to Rs.3055 crore during 2010-11 from Rs.2549 crorein the previous year, showing a growth of 19.86%.

3.3 The non-interest income of the Bank increased fromRs.697 crore last year to Rs.857 crore this year. TheBank, in its endeavor to improve the Fee Based income,apart from tie-up and joint ventures for insurance andsale of third party products, took several new initiativesin the form of ASBA, NPS Subscription, marketing of e-products, sale of gold coin business, loan syndicationetc. The Bank was able to generate an income of Rs.18crore from selling of Third Party Products (TPP) thisyear.

3.4 The cost to income ratio stood at 43.36% as on31.03.2011. An amount of Rs.575 crore was providedtowards the liability for pension and gratuity in 2010-11.

Page 5: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

5

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In view of this also , the ratio of establishment expensesto total expenses increased to 16.69% in 2010-11 from13.79% in 2009-10 while the ratio of other operatingexpenses to total expenses increased to 8.37% from8.26% during the period.

4. Cost, Yield & Margin

The year was challenging for managing cost of funds asinterest rates were hardening throughout the year but thecost of deposits of your bank decreased by 14 bps i.e. 5.83%during 2010-11 from 5.97% during 2009-10, reducing theoverall cost of fund of the Bank to 5.85% from 5.99% duringthe period. With cautious credit growth along with rebalancingof portfolio, Yield on advances decreased by only 7 bps i.e.10.50% during 2010-11 from 10.57% during 2009-10. TheNIM of the Bank increased to 3.38% in 2010-11 from 2.94% inthe previous year.

5. Profitability Ratios

Return on Assets stood at 1.11% as on 31.03.2011 as against1.16% as on 31.03.2010. Profit per Employee improved toRs.6.70 lacs during 2010-11 from Rs.5.76 lacs during 2009-10. Earnings per share went up to Rs.31.85 during2010-11 from Rs.27.01 during 2009-10 while book value pershare improved to Rs.178.64 from Rs. 151.17 during theperiod.

6. Business

6.1 Focused approach towards enhanced customerservice, network expansion and new products resultedin increase of Bank’s total business mix by 26.87% toreach the level of Rs.2,26,458 crore as on 31.03.2011from Rs.1,78,493 crore as on 31.03.2010. TotalDeposits grew by 24.36% to Rs.1,31,887 crore as on31.03.2011 from Rs.1,06,056 crore as on 31.03.2010.Gross credit of the Bank went up by 30.56% to Rs.94,571crore as on 31.03.2011 from Rs.72,437 crore as on31.03.2010.

6.2 Business per Employee increased to Rs.10.63 croreas on 31.03.11 from Rs.8.45 crore as on 31.03.10 whilebusiness per branch went up to Rs.93.38 crore fromRs.77.62 crore during the same period.

7. Network & Delivery Channels

Your Bank has leveraged technology to lower transactioncosts and invested in capacity building for future earnings.There was focus on increasing the number of deliverychannels and we opened 129 new branches during 2010-11. The Bank has planned to open around 150 Branches and500 ATMs in the current financial year.

8. Non- Performing Assets

It was a big challenge to maintain our asset quality during theyear. The gross non-performing assets of the Bank stood at1.74% of gross bank credit as on 31.3.2011 as compared to1.69% as on 31.03.2010. The net non-performing assetsstood at 0.79% as on 31.03.2011 as compared to 0.66% ason 31.3.2010. The Bank had provision coverage ratio of75.67% against the new RBI norm of 70%.

Page 6: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

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9. Capital Adequacy Ratio

Bank has allotted around 2.95 crore equity shares of Rs 10each at a premium of Rs 217 per share amounting to Rs 670crore approximately on preferential allotment basis toGovernment of India. With the capital infusion & retention ofprofit, the capital adequacy ratio is attained at 12.96% on ourincreased business as on 31.03.2011 as against 13.62% ason 31.03.2010 as per Basel-II norms.

10. TechnologyI feel happy to inform you that the Bank has brought all itsbranches and offices under CBS ambit as promised by mein the last year’s report. The notable developments in thearea of technology adoption include launching of internetbanking, SMS banking, e-banking, implementation of RealTime Gross Settlement / National Electronic Fund Transfer(RTGS/NEFT), On-line Tax Accounting System (OLTAS) etc.Bank plans to facilitate issuance of Unique IdentificationNumber (UID) to most of the Customers of the Bank underthe project “ADHAAR”. Bank’s Internet Website is nowavailable in 3 languages i.e. Hindi, English and Bengali.

11. Human Resource Development

Your bank is committed to developing its human capital byenhancing its skill and capacity in tandem with the growingaspirations of the organization. We have imparted suitabletraining to 11300 employees during the year. The Bank hasrecruited 1,851 employees (972 Officers and 879 Clerks)during the year. The productivity of staff of your Bank has beenconsistently increasing as evident from the fact that Businessper Employee increased to Rs.10.63 crore as on 31.03.11from Rs.8.45 crore as on 31.03.10.

12. Financial Inclusion

Bank has been given with the responsibility of 2618 villageshaving population of 2000 and above where banking servicesare to be provided by opening of banking outlet by March,2012 under ICT enabled Financial Inclusion by adoptingvarious models viz. Biometric Smart Card solution throughBusiness Correspondents, Mobile Banking Van fitted withATM, and opening of Brick & mortar branches. During theyear the Bank had covered 1054 villages against a target of1046 villages by opening of 5 Branches, by launching of 2Mobile Banking Vans and 1031 villages through BC modeland 2.51 lacs accounts were opened in those FI villages.

13. Corporate Social Responsibility

Your Bank believes in Corporate Social Responsibility andhas taken a number of welfare measures on this score. In thisendeavor, Bank has taken initiatives for social projects likeestablishment and facilitation of RSETI (Rural Self EmploymentTraining Institute), opening of Financial Literacy and CreditCounseling Centers (FLCCs) and adoption of wild animals at‘Van Vihar’ Bhopal which can facilitate visible change in thesociety and environment in which the Bank operates.

14. Subsidiaries

All Bank Finance Ltd., a fully owned subsidiary of the Bankregistered with SEBI as Category-I Merchant Banker, earneda profit after tax (PAT) of Rs.2.80 crore in 2010-11.

15. New Initiatives

15.1 Bank has taken several new initiatives to put your bankon a high trajectory of growth. The Bank entered into Tie-Up

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7

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Yours sincerely,

Chairman & Managing Director

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5th May, 2011

arrangement with “Unique Identification Authority of India Ltd”with a view to allot Unique Identification Number to Customersof the Bank nation-wide. The Bank has introduced net-bankingfacility to the Current Account holders under Internet BankingFacility to the Corporate Customers. To cater to the needs ofthe salaried employees a value added savings accountproduct “Allbank Advantage Salary Premium” was introducedwith inbuilt overdraft facility and several concessions in servicecharges. “All Bank Baalika Mangal Yojana”, a special depositscheme for the welfare of minor girl child has been extendedfor the current financial year also.

15.2 We have started Online Retail Processing and sanctionfacility to our internet customers through the lead generatingbranches of 27 Centralised Retail Banking Boutiques (CRBB)across the country.

16. Future Outlook

16.1 In order to increase overseas presence, apart fromthe existing overseas branch at Hong Kong as well asrepresentative office at Schenzen China, the Bank hasplanned to open more overseas branches. To increase theresource base, the Bank is planning for MTN issue of aroundUS $500 million.

16.2 Sustaining the growth momentum of the Bank, yourBank has targeted a business growth of 24% during thecurrent year and projected a business level of aroundRs.2,80,000 crore as at March 2012 .

17. Awards & Achievement

Your Bank has been awarded the First Prize for excellence inMSE Lending for 2009-10 by the Govt. of India. The Prize wasreceived by your Chairman & Managing Director from H.E.Smt. Pratibha Devi Singh Patil, Hon’ble President of India inNew Delhi on 31.08.2010. The Bank has been awarded “IndiraGandhi Rajbhasha Puraskar” by H.E Md. Hamid Ansari,Hon’ble Vice-President of India for excellence inimplementation of Rajbhasha in the Bank for 2008-09 on14.09.2010. Your Bank has also been awarded the ReserveBank Rajbhasha Puraskar for excellence in implementationof Rajbhasha in the Bank from Dr. D. Subbarao, Hon’bleGovernor, RBI on 26.05.2010.

18. AcknowledgementBefore I close, I would like to place on record our deep senseof gratitude to Government of India and RBI for their unstintedsupport and continued guidance. The Board of Directors hasalways been supportive and I thank the members of the Boardfor their encouragement and guidance. Cordial atmospherein the Bank continued during the year and the participation ofrank and file in the business development deserves a wordof appreciation. It is the confidence of 26 million customerswhich keeps up our spirits and inspires us to betterperformance.

19. Conclusion

As your Bank enters the 147th year of purposeful existence, Iam confident that with the continued support and patronageof the shareholders, customers, employees and well wishersas well as the Government of India & Reserve Bank of India,your bank will continue its march toward excellence and willbe a force to reckon with within the Industry.

(J. P. Dua)

Page 8: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

8

ALLAHABAD BANKHead Office : 2, N.S.Road, Kolkata-700 001

NOTICE

Notice is hereby given that the Nineth Annual General Meetingof the shareholders of the Bank will be held on Friday, the 10th

June, 2011 at 10.30 A.M. at Purbashree Auditorium, EasternZonal Cultural Center, Bharatiyam Cultural Multiplex, IB-201,Sector-III, Salt Lake City, Kolkata-700106 to transact thefollowing business (es) :-

1. “To discuss, approve and adopt the Balance Sheet, Profit& Loss Account of the Bank as at and for the year ended31st March, 2011, the Report of the Board of Directors onthe working and activities of the Bank for the periodcovered by the Accounts and the Auditor’s Report on theBalance Sheet and Accounts.”

2. To declare Dividend on Equity Shares.

By order of the Board of Directors

Place : Kolkata ( J. P. Dua)

Date : 02-05-2011 Chairman & Managing Director

NOTES:

1. APPOINTMENT OF PROXY

A Shareholder entitled to attend and vote at the meeting, isalso entitled to appoint a proxy to attend and vote instead ofhimself/ herself, and such a proxy need not be a Shareholderof the Bank. The proxy form in order to be effective must bereceived by the Bank at its Share Department, Head Office, 2,Netaji Subhas Road, Kolkata-700 001 not later than FOURDAYS before the date of the Meeting i.e on or before the clos-ing business hours of Monday, 6th June, 2011. Please notethat any employee or officer of Allahabad Bank cannot be ap-pointed as proxy as per provisions of Allahabad Bank (Shares& Meetings) Regulations, 1999.

2. APPOINTMENT OF AN AUTHORISED REPRESENTA-TIVES

No person shall be entitled to attend or vote at the meeting asa duly authorized representative of any body corporate whichis a shareholder of the Bank, unless a copy of the resolutionappointing him/her as a duly authorized representative, certifiedto be a true copy by the Chairman of the meeting at which itwas passed, has been deposited at the Head Office of theBank with Share Department, Allahabad Bank, 2, Netaji SubhasRoad, Kolkata-700 001 not later than FOUR DAYS before thedate of the Meeting i.e on or before the closing business hoursof Monday, 6th June, 2011. Please note that an employee orofficer of Allahabad Bank cannot be appointed as authorizedrepresentative as per provisions of Allahabad Bank (Shares &Meetings) Regulations, 1999.

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Page 9: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

9

3. ATTENDANCE SLIP-CUM ENTRY PASS

For the convenience of the shareholders, attendance slip-cumentry pass is annexed to the Annual Report. Shareholders/Proxy holders/Authorised Representatives are requested tofill in and affix their signatures at the space provided thereinand surrender the same at the venue. Proxy/AuthorisedRepresentatives of shareholders should state on theirAttendance Slip-cum Entry pass as ‘Proxy’ or ‘AuthorisedRepresentatives’ as the case may be.

4. CLOSURE OF REGISTER OF SHAREHOLDERS

The Register of Shareholders and the Share Transfer Booksof the Bank will remain close from Monday, 16th May, 2011 toFriday, 10th June, 2011(both days inclusive) in connection withthe Nineth Annual General Meeting and for the purpose ofdetermining the eligibility of the shareholders entitled to receivethe dividend, declared by the Bank.

5. PAYMENT OF DIVIDEND

Payment of dividend, if declared by the Shareholders in theAnnual General Meeting, will be made to those shareholderswhose names appear:

a) as Beneficial Owners as at the close of business hourson Saturday, 14th May, 2011 as per the lists to befurnished by NSDL/CDSL in respect of the Shares heldin electronic form and

b) in the Register of shareholders as on Saturday, 14th May,2011 after giving effect to the valid transfer requestsreceived from the shareholders holding shares in physicalform, before close of business hour on 14-05-2011.

Dividend warrants to such shareholders who have not optedfor credit of their dividend through NECS would be sent by theBank or through Registrar and Share Transfer Agents viz. MCSLimited, within 30 days from the date of declaration of dividendon their registered addresses.

The shareholders who have opted for NECS credit of their

dividend will be paid dividend through NECS by directly

crediting the dividend amount to their Bank account as per

their ECS mandate. In case of failure/ return of NECS the

dividend warrants will be issued to the respective shareholders.

The payment of Dividend is subject to necessary approval fromGovt of India.

The dividend payment date will be 28th June, 2011.

6. UNPAID/UNCLAIMED DIVIDEND

As per section 10B of Banking Companies (Acquisition andTransfer of Undertakings) Act,1970 any money which istransferred to unpaid dividend account and remains unpaid/unclaimed for a period of seven years from the date of suchtransfer shall be transferred to “Investor Education andProtection Fund” established under section 205C (1) of theCompanies Act,1956.

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Page 10: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

10

Accordingly, the dividend for the year 2002-03 and onwardwill be transferred to “Investor Education and Protection Fund”after seven years from the date on which it has been transferredto unpaid dividend account.

Shareholders who have not claimed their dividend upto thefinancial year 2009-10 are requested to lodge valid claim(s)with Registrar and Transfer Agent, M/s MCS Ltd.

7. BANK MANDATE FOR DIVIDEND OR NATIONALELECTRONIC CLEARING SERVICE (NECS)

7.1 In order to protect the investors from fraudulentencashment of warrants, the members are requested tofurnish their Bank Account Number (Current/Savings),the name of the Bank and Branch where they would liketo deposit the dividend warrants for encashment,whenever dividend is declared by the Bank.

These particulars will be printed on the cheque portion ofthe Dividend Warrant besides the name of theshareholders, so that these warrants cannot be encashedby anyone other than the shareholder.

The above mentioned details should be furnished by thefirst/sole holder, directly to the Share Transfer Agents atKolkata, quoting the folio number, number of Shares held,details of the holdings etc.

7.2 The Bank is offering the facility of NECS to theshareholders of the Bank for payment of dividend throughelectronic mode. For credit of dividend directly to theBank account of the shareholders through NECS the BankAccount of the shareholder should be with a CentralizedBanking Solution (CBS) and NECS enabled Branch ofBank.

The shareholders holding shares in electronic form aretherefore requested to get their Bank Account updatedwith their Depository Participants (DPs) for receiving thedividend by direct credit in their Bank Account.

The shareholders holding shares in Physical form maysubmit the ECS mandate duly signed by the First/Soleholder for receiving the dividend by direct credit in theirBank Account to Registrar and Transfer Agent M/s MCSLtd, Kolkata.

8. COMPULSORY TRADING OF SHARES OF THE BANKIN DEMATERIALISED (DEMAT) FORM

Pursuant to the directive given by SEBI, trading of ourBank Shares in Dematerialized form has been madecompulsory for all investors.

The Bank has entered into an agreement with NationalSecurities Depository Ltd. (NSDL) and Central DepositoryServices (India) Ltd. (CDSL) as an issuer Company fordematerialization of Bank’s Shares.

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Page 11: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

11

Request for dematerialization may be sent throughrespective Depository Participants to our Registrar andShare Transfer Agent.

9. UNCLAIMED SHARES

The details of unclaimed shares are as under:

i) Shares outstanding/unclaimed as

on 01-04-2010 - 4461

ii) Shares claimed and transferred to

Beneficiary account during the year 2010-11 335

iii) Shares outstanding/unclaimed as

on 31-03-2011 - 4126

The voting rights in respect of the unclaimed/outstanding

shares will remain frozen till the claim by the rightful owner.

10. COPIES OF BALANCE SHEET

Shareholders are advised that copies of the Annual Reportwill not be distributed at the venue of the Annual GeneralMeeting and hence shareholders are requested to bring theircopies of the Annual Report, which are mailed by the Bank to

them at their registered addresses.

11. SHAREHOLDERS’ QUERIES

It will be appreciated if shareholders submit their queries, if

any, sufficiently in advance to facilitate effective response from

the Bank.

12. COMMUNICATION WITH SHARE TRANSFER AGENT

Shareholders are requested to approach the Registrar and

Share Transfer Agent of the Bank, to intimate changes, if any,

in their registered address, lodge transfer/transmission request

(s) and the matters related to payment of dividends at the

following address:-

M/s MCS Limited (Unit: Allahabad Bank)

77/2A, Hazra Road

Kolkata-700029

Tel : 033-24541892, 033-24541893

Fax: 033-24541961

E-mail: [email protected]

13. For on line queries/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 regis-

ter their queries/grievance, if any.

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4���� 4���� ���*��*4�9�:���O�%*��9:�=���')�+��!#�+�,��P��U ��')�;������������������������������� Q!%#����������033-2454-1892, 033-2454-1893

M(�<�����033-2454-1961

=�4�������[email protected]

�)��3�>�����=���������������U*-��������.�����*�� �+�,�������-��������������bu0 4���� ���*��*4�9�:�� ����0��+����=9�:www.mcsdel.com�5�������>@��=����������������'()1���B���35�����������������U*-��������.�����5�1�������F�'�)����=�0���9:�����*0���������5����*<������������������'1()G

Page 12: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

12

15. OTHER INFORMATION

Shareholders may kindly note that no gift/coupon will bedistributed at the meeting.

By order of the Board of Directors

Chairman & Managing DirectorPlace : KolkataDate : 02-05-2011

�B�������������������*!#���1������ ��I� ���

*��!�#-����4�1���������3�!�#-�����

��������� �����3��E�� 0�1���+�1���*��!�#-���

The Company SecretaryShare Deptt. & Investors’ Grievance CellHead Office 2, Netaji Subhas Road, Kolkata- 700 001Telephone No.033-22420878Fax No. 033- 22107424Email-investors.grievance@ allahabadbank.in

4�')���+�1����O*0�� 0�1����P������ M��3��� 0�1�3���5�������3*��������=���')�+��!#�+�,�������������������� ��������������������������������������������������!%#����������1A������88� X ��ZQQM(�<�����17��88� ����X X=�4�������[email protected]

�1�5�������*&�0�-������*0����@�� 0�1�*��0��-����*-��������*��0����F����E����������������� ��������������������������������������������������!%#����������1A������88� X ��Z�ZM(�<�����17��88� ����X X=�4�������investors.grievance@ allahabadbank.in

The General Manager (F&A), CFO & Compliance OfficerAllahabad Bank, Head Office2, Netaji Subhas Road,Kolkata - 700 001Telephone No. 033-2242 0899Fax No. 033-2210 7424E-mail - [email protected]

�6�������������

0����#$&��#$� �' ����� ����45 � #3$ �� ��>NOO� G�3 � ���C *�����#$<�� �����/�(��#$(� ����P �� ��� ���B9��Q

14. In order to facilitate quick and efficient service to the share-

holders, Allahabad Bank has set up Investors’ Grievances

Cell at its Head Office, Kolkata. Shareholders and inves-

tors may contact this Cell at the under mentioned ad-dresses for any assistance:

�2�-�������������.�������0�*�����3�(��������0������0������!#����������������J^�#-�����=���')�+��!#� +�,��� ����35����� �������� ���������� ������������� 4�.� ��� *��0��-���*-����������E�������B��5���������'()G�-�������������3�(���*��0��-����*�����������������������')������'�)����*��4��*��*A����5�����5����=�����E��������45�����B��*5����������������',)�

(J. P. Dua)

Page 13: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

13

ALLAHABAD BANKDIRECTORS’ REPORT

APRIL 2010 TO MARCH 2011

The Board of Directors has pleasure in presenting theDirectors’ Report along with the audited Statement of Accountsof the Bank for the year ended 31st March 2011.

MANAGEMENT DISCUSSION AND ANALYSIS

MACRO ECONOMIC ENVIRONMENT

FY 2010-11 has been a complex and challenging year due toabsorption and management of ‘after effects’ of global financialcrisis. The crisis had its beginnings in the developed world’ssubprime sector & broader financial markets and this contagionspread to the rest of the world economy, turning into a full-blown global economic crisis. Indian economy also becameaffected to the extent it was coupled with global economy boththrough trade and exposure to international financial markets.

GLOBAL DEVELOPMENT

As per IMF, the World real GDP growth is expected to be about4.5% in 2011 down modestly from 5% in 2010. Real GDPgrowth in advanced economies and emerging & developingeconomies is expected to be at about 2.5% and 6.5%respectively in 2011.The strong macroeconomic fundamentalsin emerging market and consequent boost in demand is anindication that recovery is complete and expansion is underway.

In advanced economies, headline inflation is projected to bebelow 2% in 2011 but in emerging and developing economies,inflation pressure is mounting and forecast sees headlineinflation at close to 7% in 2011.

There was recovery in the global economy during last yearbut at the same time unemployment increased in developedworld. Emerging market economies had different challenges-first fiscal consolidation and to maintain output at potentialdespite higher interest rates to counter inflation & second,capital controls to avoid systemic risk stemming from volatilecapital inflows. High inflationary expectation and traces of anearly sign of overheating of the economy were found inemerging economies.

DOMESTIC DEVELOPMENT

Indian economy has performed relatively better in FY 2010-11compared to other emerging economies. Robust growth andsteady fiscal consolidation have been the hallmark of the Indian

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Page 14: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

14

economy in FY 2010-11.Economic growth has been broadbased with a rebound in the agriculture sector. The GrossDomestic Product (GDP) of India has grown by 8.6% withagriculture growth at 5.4%, industry at 8.1% and services at9.6% during the Year 2010-11. Our economy has shownremarkable resilience to both external and domestic shocksand successfully withstood the ripple effects of the globalturmoil.

The high growth in the savings and investment has been thegrowth enabler in recent years. Gross Domestic Saving (GDS),as percentage of GDP at current market prices has been 33.7%in 2009-10 as compared to 32.2% in 2008-09. The growth inhousehold saving rate has been 23.5% in 2009-10. The rateof Gross Capital Formation (Investment) was 36.5% in 2009-10 as against 34.5% in 2008-09.

Inflationary expectation, higher commodity prices and volatilityin global commodity markets have been a cause of concern.The year 2010-11 started with a double digit headline inflationof 11.0% in April 2010. After remaining in double digits fromApril to July 2010, it came down to 7.5% in November 2010.But the trend reversed with inflation moving up again to 9.41%in December’2010, 8.23 % in Jan’2011 & 8.31 % in Feb’2011.In spite of spectacular growth in Agriculture this year, inflationremained at elevated level due to high food prices. The inflationbased on WPI continued at higher level of 8.98% for March2011. The spurt in inflationary expectation could be attributedprimarily to supply constraints.

So far external sector of the economy is concerned, during2010-11 the imports have been slow but exports haveincreased in view of global recovery and growth in trade withAsian countries as a result of which trade deficit is set to narrow.Exports for the year ending March 2011 touched US$ 245.9billion registering a growth of 37.5% exceeding expectations.Imports for the same period stood at US$ 350.3 billion; andresultantly the trade deficit figure has come down to US$ 104.4billion for March 2011.

BANKING & FINANCIAL SECTOR DEVELOPMENT

There has been a gradual shift in the stance of policy on interestrate. In 2010-11, the monetary policy stance has been one ofhiking the policy rates to tame inflation.. Banks have alsorevised their deposit & lending rates on account of successiverate hike by RBI and prevailing tight liquidity conditions in thesystem.

Indian financial markets, particularly the equity and foreignexchange markets were impacted by the global developments.Banks resorted to Certificate of Deposits for their resourcemobilization which saw both increase in volumes and rates.Issuances of CPs also increased as companies accessedalternative avenues for funds, given the tight liquidityconditions.

" # � � � . �3 � B = � �� � � � � � � G � � � �% � � < � �� � ' �1 > ? � � � � � �� � � = � �� 5 � � � � �" # � � � . �� � � � 6

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* � & � � � � $ �� � ' �� 5 � � � � � �� � " # � � � � � � $ � � � $ � $ �M � = � � � � � � � � " # & � �� � � ' �� � � �2 � $ �3 � � � � $

7 � � � � " # � � � � � 3 � - " # � b c & � � � � " # � ' � � � � � � � � � � � 4 � � � � � 5 � � .

2 � � " # � � $ 5 � �� � � 0 � �� � � 7 � � " # �� � � � � � � � " # �9 M Z � � ( ) $ �3 � - " �� � � � � � � � $ �� � � N � � �� � � 7 � � " # �� � - � / �

S � ( ) � � � K � � � ' � � � � � * � 2 � � � � � � � � � � � + . � � � � ' � � � � � 3 � � � � � � � � � � � 4 � � � � � � R � � � & � � � � � � � � � 7 � � � �

* � � � � & � � � < � � ' � � � � � � � � " # � � � � � 5 � � � � - � � � 7 � � � � � ' � � � � " # � � � & � � 3 � - " # � � � " # � ' � � � � � � � � ' � � � ' � � � G � E �

� � � ! � $ � @ � 9 � � � - � . � � � $ � � $ � � � � � � @ � � � � � � � ' � 2 � $ � � � � 7 � $ � 3 � 9 � � � - � � Z 5 � � ' � � � � ! � � � � � " # � � � � �

� � � " # M � = � � � � 5 � � ' � � �� � � � � � � � � � � � � 5 � � ' �� � � �� � � � 4 � 5 � � ' �� � � � � � �� � - M � � � �� � 2 � � � � � � � 3 � ' � � �

� � � � � � � �� 5 � � �� - � .

Page 15: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

15

Indian Banks continued to play a dominant role in providingcredit to economy. Banks accounted for nearly 60% of total

flow of financial resources to the commercial sector. On ayear-on-year basis, bank credit grew by 21.4% to Rs.3938659crore as on March 25, 2011, which exceeded RBI’s projected

non-food credit growth target of 20% for FY 2011. Aggregatedeposits of SCBs grew by 15.8% on year-on-year basis therebyreaching a level of Rs.5204703 crore as on March 25, 2011.

OUTLOOK FOR 2012

The economic activities in the next FY 2011-12 is expected tosustain on more or less same level on account of multiplereasons such as successive interest rate hikes since April 2010and rising inflationary pressures since December 2010 in theeconomy. We expect that GDP growth rate would be in therange of 8.5-8.75% in FY 2011-12. Banks would continue toface pressure on their net interest margin on account of rise ininterest rates in 2011-12. It is expected that deposits in theyear 2011-12 will grow at a higher rate than in the financialyear 2010-11. Deposit growth of around 17% and credit growthof around 20.0% are expected in 2011-12.

PERFORMANCE OF ALLAHABAD BANK

OPERATING RESULTS

Bank’s performance in key business parameters is presentedbelow.

2 � � " # � � $ 5 � � � � � ' � � � � � 3 = � � � 5 � � � � = � � � � � � b c & � � 1 � � � � � 4 � � " # � � � � � � � ' � � � � ! 5 � � 2 � 8 � � � �� � � 2 � � � � � � 7 � � " # $ � " # ! � � . � � � � � & � M 7 5 � � % � � < � � � � � � � 0 � $ 5 � � � � � � � 4 � � � � ' � � � � � � � * � � � � � � � �� � @ � 2 � @ � �L �% � � � ' � � �� � � � � �� - � . ��� � � � � �� � " # �� � � � � �3 � 4 � � " # �� � " # �� � �b c & � �� J� � � � � � \ � � � � � � � � � � � I H%� $ � � � G � E � � � � � � � = � � � � O P " # � � � d e I � � X � V L J X " # � � ` � �� � � � �@ � 5 � � �7 � � � �� � � 0 � $ 5 � �� � � � � �� � � � �� � � � � � �2 � � " # � � $ 5 � �� " # f � � � � � � �� � �@ � - " # 6 ! � � Wb c & � � � � � �%� � � 3 � � � � � � � � � � � � � � % 5 � � � � � � 3 � 4 � � � - � . � 3 � � � � � 8 � � � � � � � � � � & � M 7 5 � � � � ' � $ �� � � � �7 � � � � " # � � � � �� � ' �� � � � � �� � " # �� � � � � �3 � 4 � � " # �� � " # �� J I V%� $ �� � G � E � �� � � 9 �3 � - " # � 9 � � � * � � " # � 5 � � � � � J � � � � � � � \ � � � � � � � � � 5 � = � � M � = � � � � � d e I � J � � H Q � � " # � � ` � � � �� � � " # �� � " # �� � � � C � � � �@ � 5 � � .

&�'������� � �#6��&����%7

3@��������0������������6�����'�3�B=��@��������4�5��C�3�����"#&��'��������������1 � � $ � � � � " # � � � " # � � � � � � � " # � � � � � � $ � � � 2 � � � � � � � � � - � \ � 7 � - � � � � 3 * � - � � � � � � � � � � � � � � @ � � � � � " #� 5 � � 7 � � � � " # � ' � � � ' � � � G � E � � 3 � - " # � 3 = � � � 5 � � � � = � � � � � ' � � � � � � � � � " # � � � � � � � � � � � F $ � � � � " # $� � � � � � � � ' � � � ' � � � G � E � � 3 � � � � . � � � � � � 3 � � � � � " # � � � � � � � � � � � � 0 � $ 5 � � � � � � � � � � � � 6 � � � � � '� � � � � S � " � # � � 8 � 1 � � � � � � � $ � � � G � E � � � � " # � V I J%� 6 � V I Q J%� � � � � $ � � � " # � � � � � � $� � 2 � � � � � � � �� - � . ��� � � � 6 � � �� � ' �� 5 � � 7 � �� � " # � ' �� � ' �� � G � E � � � � � " # & � �� � � � � � � �3 � � � � ����������5��7�����B7������'��������������������"#������`��@��.�+���$��� 2���������-���� � � � 6 � � � � � ' � 7 � � � � " # � � � � � $ � � � G � E � � � � " # � � � � 0 � $ 5 � � � � � � � � � � � � 6 � � � � � � � 3 � 4 � " # � � � @ � $ . �� � � � 6 � ��� � ' �� � g @ � �1 W � � @ � �� � ' �7 � � � � �� � G � E � �� � @ � 2 � @ � �� Q%�3 � - " # �b c & �� � G � E � �� � @ � 2 � @ � �� �%�" # � � � � � � $ �� � 2 � � � � � � � �� - � .

��������������� � �� �)�����'������

�������������������� ����

� � � ! 5 � � � 5 � � � � � � 5 � � � � � � � � � � � � ' � � � ' � � � � � � � 5 � � � � � � � � � � � � � � � � � � � � � � � � � � � � " # & � $ � � � '

* � � � � � � � �� - � �A

!��"��� ’09 !��"���’10 &�8�9(%) !��"���’11 &�8�9(%)

!�����#:;< Parameter Mar’09 Mar’10 Growth (%) Mar’11 Growth (%)

� � � � � � � �� � � 2 � �h Net Profit 768.60 1206.33 56.95 1423.11 17.97

� � � " # � � � � � � � @ � � � � � � � 2 � � h Operating Profit 1901.15 2548.55 34.05 3054.58 19.86

( D � ) g � � @ � � � � � 2 � � � � � > ? � � ` � " # � � � � " # � � � � � � � � � � � 2 �

Operating Profit Ex. Trading Profit 1328.45 1972.00 48.44 2894.34 46.77

* � � � � 4 � � � � � + � � � 3 � M � � � � � � +

Provisions & Contingencies 1132.55 1342.22 18.51 1631.47 21.55

� � � � 3 � 5 � h Total Income 8506.65 9885.10 16.20 12385.10 25.29

� � � �� 5 � 5 � �T * � � � � 4 � � � � � � � �> ? � � ` � " # U

Total Expenditure (Excl. Prov.) 6605.50 7336.55 11.07 9330.52 27.18

� 5 � � 7 � � � * � � � � h Interest Spread 2158.67 2650.48 22.78 4022.47 51.76

� � � �7 � � � � " # � � � � 5 � � h Total Deposits 84971.79 106055.75 24.81 131887.16 24.36

� � � �3 � R � � � h Total Advances 59443.40 72437.31 21.86 94570.93 30.56

� � � � � 5 � � � � � � 5 � h Total Business 144415.19 178493.06 23.60 226458.09 26.87

� � � � � � � � � � � � � h Gross Investments 30081.35 38680.43 28.59 43544.84 12.58

T�� " # � � ` � � � � ' U/(��in crore)

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16

� �)�����'�������&����'��=��%#

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� � � � � � % � � � � � � � � � � " # � � � � � � � 3 � 4 � � " # � � � " # � � L I V Q% $ � � � G � E � � � � � � � � � � � � � � � + � � d e I

� \ � L \ H J V� " # � � ` � � � � � � @ � 5 � � � .

� � � � " # � � � � � � � �� � � 2 � �� � � > ? � � � �� � � � � � � �d e I�� \ J H X � " # � � ` � � � �� � � � � � % � �� � � � � �� � " #

� � � � � �3 � 4 � � " # �� � " # ��� X I V L%� $ �� � G � E � �� � � � � � � � � �� � � + �� � O P " # �d e I �� \ � J J

" # � � ` � � � � " # � � � � � C � � � � @ � 5 � � .

� � � � � � � � �� � � 2 � �� � � > ? � � � �� � � � � � � �d e I�� \ � � L � " # � � ` � � � �� � � � � � % � �� � � � � �� � " # �� � � � �

3 � 4 � � " # � � � " # � � Q I X Q%� $ � � � G � E � � � � � � � � � � � � � � � + � � � I � � I � � � � � � �

� � � � � � � � �� � � 0 � �� � � � � � � �� � � - " # � � � �� � O P " # �d eI � \ H � � � " # � � ` � �� � � � �@ � 5 � � .

� � � � � � � � �� 5 � � 7 � �� � � B 7 � � � �T + � � 3 � 9 � + � � U �� � � > ? � � � �� � � � � � � �� I X H%�� � �� � � � � � % �

� � O P " � # � � � � � � � � � � � � � � � � � � � � � � � � � � � 0 � � � � � � � � � � � � � - " # � � � � � � I � V%� � � � �

@ � 5 � � .

� � � � $ � 7 � � � � � " # � � � � 5 � � � � \ � L \ � J L � " # � � ` � � � � � � � O P " # � � \ � � \ V V Q

"#��`������@�9i.���������"#�������3�4��"#���"#\�����7����"#����5��'���'��HI�L%

$ � � � G � E � � � � � 9 � � .

� � � � � � b c & � � d e I�Q � \ H � Q � " # � � ` � � � � � � � � � % � � � � O P " # � d e I�X H \ J Q �

" # � � ` �� � � � �@ � 5 � � . ��� � � � � �� � " # �� � � � � �3 � 4 � � " # �� � " # �� � � � �b c & � �� � ' �� � I J L% $ � � � G � E � � � � � 9 � .

� b c & � �7 � � � � �3 � � � � � � � � �� � � > ? � � � �� � � � � � � �L V I X �% � �� � � � � � % � �� � O P " # �� � � � � � \

� � � � � � � � 5 � = � � M � = � � � � � Q � I � V% � � � � � @ � 5 � � .

� � � � 0 � $ 5 � � � � � � � � � � � � � - " # � � � � � " # ( � ) � � � b c & � � � X I � �%� $ � � � G � E � � � � � � � = �

d e I � � \ � V � � " # � � ` � �� � � �� � O P " # �d e I � � \ � � X � " # � � ` � �� � � � �@ � 5 � � .

� @ � - " # 6 � � � � 4 � �@ � - " �� 5 � � 7 � �3 � 5 � �� � � > ? � � � �� � � � � � � �d e I�L X Q� " # � � ` � � � �� � � � � � % �

� � � � � � \ �� � � � � � � �� � � � � � � � �� � � 0 � �� � � � � � � �� � � - " # � � � �d e I�V J Q�� " # � � ` �" # � � $ .

� � � 8 C 7 � $ � � � 5 � � � � � � � � � � 3 � � � � � � � � � � � � 4 � � � � " # � � � X% � � � � � � � � � � � � � � � � � � � � � % �

� � I � � I � � � � � � � � 5 � = � � M � = � � � � � � � I X L%�= � � .

� � � � � � � � � � � � � 3 � � � � � ' � � � � � � 3 � R � � � � � � ' � � � � � � + � � � � $ + � 3 � - " # � � � � � � � �

3 � @ � � � � ' � � � ' � � � � � � � � � + � � � � $ + � 3 � � � � � � � � � K � � � � A � � I Q H%� 3 � - " # � � I Q X%

= � � .

� * � � � � 4 � � � � � � � " � # 7 � � 3 � � � � � � � � � Q J I L Q%� " # � � � .

����������������������������

2 � � " # � � �� � " # � " # � � � � 9 M Z � � ( ) $ � � � 3 � 4 � � � � � � $ � 3 � � � ( ) � � � � � � � " # & � � 5 � = � � M � = � � � �� � I � � I � � � � � � � ��� � � $ �* � � � 0 � �� � 8 7 � $ �d e I �H H L I Q � � " # � � ` � �� � � �� � O P " #d e I �H Q L I � � � " # � � ` � �� � � � �@ � 9 � . �� � � � � � � �3 � � �� � ' �3 � " # � % � � � �� � � � 4 � �3 � - " # �3 � 4 � � � � � �5 � = � � M � = � � � � � � � I � � I � � � � � � � d e I � L � � L I � J � " # � � ` � � � � � � � � j P " # � � d e IV � � � I � Q � " # � � ` � � � � � � � @ � + .���6��#��

� � � � �� � � � � � � � �� � � � � � �� � � �# 2 � � " # � � �� � " # � " # � � �3 � � � � � � � � � � � � � �3 4 5 � 4 � $ � � �L �% $ � � � " # � � � � � �� � 2 � � � � � $ � S � � � � � & � � � $ � � - � � 3 = � � � � � � d e I � � h 6 � � � * � � � � � 9 M Z � � ( ) $

� � � 5 � " # �� � " �d e I L I � � .

Performance Highlights

� Total Business of the Bank increased to Rs. 2,26,458crore as against Rs. 1,78,493 crore in previous yearshowing a YOY growth of 26.87 %.

� Operating Profit surged to Rs. 3,055 crore as againstRs. 2,549 crore last year showing a YOY growth of19.86%.

� Net Profit rose to Rs. 1,423 crore during the FinancialYear ending 31.03.2011 as against Rs. 1,206 crore lastyear showing a YOY Growth of 17.97 %

� Net Interest Margin (NIM) increased to 3.38 % duringthe Financial Year ending March, 2011 as against 2.94%last year.

� Deposits of the Bank went up to Rs. 1,31,887 crore fromRs. 1,06,056 crore last year. Year-on-Year basis, TotalDeposits grew by 24.36 %.

� Gross Credit surged to Rs. 94,571 crore from Rs. 72,437crore last year. Year-on-Year basis, the Gross Credit in-creased by 30.56 %.

� Credit Deposit Ratio rose to 72.18% as at March, 2011end as against 68.93 % last year.

� Retail Credit grew to Rs.13,029 crore from Rs. 10,082crore last year, constituting an increase of 29.23 % dur-ing the financial year.

� Non-Fund Non Interest Income during the Financial Yearending March, 2011 stood at Rs. 857 crore as againstRs. 697 crore last year.

� Capital Adequacy Ratio stood at 12.96 % as on31.03.2011 as against the stipulated norm of 9%.

� Gross NPA to Gross Advances and Net NPA to Net Ad-vances Ratios stood at 1.74% and 0.79% as at March,2011-end respectively.

� Provision Coverage Ratio stood at 75.67 %.

CAPITAL AND RESERVES

Due to preferential allotment of equity to Government ofIndia the paid-up capital of the Bank increased from Rs446.70 cr to Rs.476.22 crores as on 31.3.2011. The reserves& surplus went up to Rs.8031.17 crores as at end of thisyear from Rs..6306.25 crores as on 31.03.2010.

Dividend

The Board of Directors of the Bank has recommended adividend @ 60 % i.e. Rs. 6 per equity share of Rs.10 eachsubject to approval by the Govt. of India.

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17

�������������� �������FINANCIALS

� � � � � � � � � � � � � � 8 & � � � 3 � � � � � � � � � � � $ � � � � � � � � � � + � @ � + � � � �/ Important ratios of the Bank are depicted below;

!�����#:;� h Parameters 31.3.09 31.3.10 31.3.11

� � 8 7 � $ � � � 5 � � � � � � � � � � 3 � � � � � � � � � h Capital Adequacy Ratio (%) 13.11 13.62 12.96

� 7 � � � � � ' � � � � � h Of which ( ) $ 5 � " # �I Tier I (%) 8.01 8.12 8.57

( ) $ 5 � " # �II (%) / Tier II (%) 5.10 5.50 4.39

3 � - � � � � � � 5 � � � � $Öt�� � � � 4 � 5 � � ' �� � ' �� * � � � � �(%)Spread to Average Working Fund (%) 2.54 2.54 3.31

7 � � � � " # � � � � 5 � � ' � $ �3 � - � � � � �� � � @ � � � �T%U

Average Cost of Funds (%) 6.67 5.99 5.85

� � � � 4 � 5 � � ' �� � " # �3 � - � � � � �3 � 5 � �T%UAverage Yield on Funds (%) 9.62 8.68 9.19

7 � � � � " # � � � � 5 � � ' � $ �3 � - � � � � �� � � @ � � � �T%UAverage Cost of Deposits (%) 6.62 5.97 5.83

3 � R � � � � ' �� � " # �3 � - � � � � �3 � 5 � �T%UAverage Yield on Advances (%) 10.88 10.57 10.50

* � � � � � � � � 5 � " # � 3 7 � � � � � T d e I U � h Earnings per Share (Rs.) 17.21 27.01 31.85

* � � � � � � � � 5 � " # � � � � � $ � � � 8 � 5 � � T d e I U � h Book Value per Share (Rs.) 131.00 151.17 178.64

3 � M � � � 5 � � ' �� � " # �* � � � � F � � �T%U / Return on Assets (%) 0.90 1.16 1.11

3 � - � � � � � � � � ( ) � � = � � � � � " # � * � � � � F � � � T%U �Return on Average Net Worth (%) 16.49 22.21 21.04

* � � � � 4 � � � � � � � " � # 7 � � 3 � � � � � � � � � T%U Provision Coverage Ratio (%) 76.45 78.95 75.67

� � � � � � � �+ � � � � $ + �/ Net NPAs (%) 0.72 0.66 0.79

* � � � � � � � � � � � " # $ � � � � 2 � � T d e I � � � ! � U / Profit per Employee (Rs. in lacs) 3.76 5.76 6.70

* � � � � � � � � � � � " # $ � 1 � � � � � � � � � � T d e I � � � ! � � � � ' U Productivity per Employee (Rs. in lacs) 706 845 1063

�������������������� ����

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� � I � � I � � � � � � � �� � � ! � � 3 � ' � $ � � � � �� � ! 5 � � �� H � L �� � � � �@ � 9 � �� 7 � � � � � ' �X X �

R � � � � $ & � \ � H J H � 3 4 � � 6 � � � � " # $ \ � J � V � � � � � " # $ � + � � � H L � � � � � � � � � @ � " # $ 5 � � 3 � - " # � +

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1 � � � � ! � � � $ 5 � �� � G � E � �� � � � � � � � � �� � � + �d e I � � � V V Q � " # � � ` � �� � � � �@ � 9 i . � � � �� � � @ � � � � � � � � $

7 � � � � " # � � � � 5 � � C �5 � = � � M � = � � � � �� � I � � I � � � � � � � �� � I L X%�� � O P " # �d e I H H � J L

" # � � ` � � � � � � � @ � 9 � � 7 � � � � � � � � 7 � � � � " # � � � � 5 � � ' � � � � � I Q � �%� � - � � .

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� � � � � � � � � � 7 � � � � � 3 � - " # � � � � � � 8 � ! � � � � � � 7 � � � � � � � R � � � & � � 3 � 2 � 5 � � � � � � � � � � + � @ � + .

� � � � � � �� � �7 � � � � �� � R � � � & � �3 � 2 � 5 � � � � �T �� � I � X I � � � � �� � � �� � I � � I � � � � U � �

� � � - " # � � � �� I � �� � � � � � 5 � � � �� � � �3 � 4 � �� � + �� � � � � � �! � � � � � �! � � � � � � �@ � + �3 � - " # ��! � � � � � ' �� � '

d e I � � L L � I � Q � " # � � ` � � $ � 7 � � � � " # � � � � 5 � � � � � R � � � $ � � � � � � 9 i .

OFFICES & BRANCHES

The Bank opened 129 new branches during 2010-11, takingtotal branches to 2416 as on 31.3.2011, with 993 rural, 454semi-urban, 508 urban, 460 metropolitan branches and 1foreign branch.

DEPOSIT MOBILISATION

Total deposits of the Bank showed a significant growth of 24.36% to Rs. 131887 crores as on 31.3.2011. Low cost depositsgrew by 20.69% to Rs.44156 crores as on 31.3.2011,constituting 33.70 % of aggregate deposits.

Bank emphasized on low cost deposits mobilization andobserved saving deposits & CASA deposits mobilizationcampaign during the year. During the SB mobilizationcampaign (from 01.09.10-31.03.11), over 1.3 million newsaving accounts were opened and saving deposit mobilizedto the tune of Rs.2663.37 crores.

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18

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� V I � �%� = � � \ � 9 � � � * � � " # � " # � � ( D ) $ 5 � � � � % 5 � � � V%� � � � � � � " # � " # � � � � 5 � �

@�5��.

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5 � = � � M � = � � � � �d e I V � V V � " # � � ` � �� � � �� � O P � " # �� � � � � � �� � � � � � � �5 � = � � M � = � � � �

d e I � � X X � � " # � � ` � �� � � � �@ � 5 � � �� 7 � � � � � � �� � � � � 6 � � " # 6 � � � � � �3 � 4 � � " # �� � " # �d e I � V � � " # � � ` � T HL I H H%U � $ �� � � " # � � � % � �� � G � E � �� � 7 � � � $ �� - � �. �� � � � � � �� � � � � � �

CREDIT DEPLOYMENT

Total advances of the Bank went up by 30.56% to Rs.94570crores as on 31.3.2011. Credit-deposit ratio (gross) stood at72.18 % as against 68.93% last year. The Bank increased itsmarket share in the system to 2.23 % from 2.15% during theperiod. The Benchmark Prime Lending Rate (BPLR) of theBank was at 13.75 % on 31.03.2011. Yield on advancesstood at 10.50 % during 2010-11 as against 10.57 % during2009-10 in line with the general market scenario.

NON-PERFORMING ASSETS (NPAs) MANAGEMENT

The Bank attached great importance on recovery of non-performing assets. The Bank has recovered Rs 929.16 cr fromnon performing assets including written off debts during 2010-’11 as against Rs 681.35 cr in 2009-’10. The Gross & Net Non-performing assets of the Bank stood at Rs. 1647.92 crores &Rs. 736.37 crores as on 31.03.2011 The Gross & Net NPAsas percentage to gross advances & net advance was 1.74 %& 0.79 % respectively. The provision coverage ratio of the Bankstood at 75.67%

SOCIAL BANKING

� Priority Sector Credit grew from Rs.24279 Crore as on31.03.2010 to Rs.30764 Crore as on 31.03.2011,registering an absolute YOY growth of Rs.6485 Crore(26.71 %). the Bank has exceeded the National Goal(40.00%) of PSC to ANBC by achieving 42.96 % as onMar’11.

� Agriculture Credit outstanding increased from Rs.11567Crore as on March 2010 to Rs.13387 Crore as on March2011. The Agricultural advance to Adjusted Net Banking

Credit was 18.20% as on March 2011, thereby achievingthe National goal of 18%.

� Direct Agriculture Credit outstanding increased fromRs.8340 Crore as on March 2010 to Rs.9808 Crore ason March 2011. Bank has exceeded the National Goal(13.50%) of Direct Agriculture to ANBC by achieving13.70% as on Mar’11.

MSME Sector:

� The Bank was awarded 1st prize for outstanding work inMSME lending from Her Excellency Hon’ble Presidentof India Smt Pratibha Patil.

� Credit to Micro and Small Enterprises (MSE) grew fromRs. 8188 Crore as on March 2010 to Rs.11990 Crore ason March 2011, registering an absolute YOY growth of

Rs.3802Crore (46.44%). Share of Micro Enterprises to

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19

� � � � � � �/ March 2010 � � � � � � �/ March 2011

" # � � � � " # � � � �

T d e I " # � � ` � �� � ' U T d e I " # � � ` � �� � ' UAmount Amount

(Rs. crores) (Rs. crores)

1. * � � = � � � � � � � �% � � < � �h Priority Sector Credit 24279 30764� 7 � � � � � ' �� � � �h Of Whicha) G � � � �h Agriculture 11567 13387— * � � 5 � % � �/ Direct 8340 9808— 3 * � � 5 � % � �/ Indirect 3227 3579b) � � � 9 K � � � + � � � � � S � � � 1 W � � � T + � � + � � 9 � U �/ Micro & Small Entp.(MSE) 8188 11990� 7 � � � � � ' �� � � �/ Of Which

� � 8 % � � � 1 W � � �/ Micro Enterprises 5091 60773 � 5 � �* � � I �% � � I �b c �/ Other PSC 4524 53872. � � 7 � � � " # �� � @ � � �/ Weaker Section. 6150 7547

% � � < � h 5 � � � 7 � � � � + C � / Sector / Schemes

� � � � � � � � � A � * � � = � � � � � � � � % � � < � � b c & � � h �Table 1: Priority Sector Credit :

����(���?���@���=�A���=���=�!��B / Table 2: Ratios (in percentage)

� � � � � � � � � 8 & � � � 3 � � � � � � � � � h " # � � ( D ) $ 5 � �� � % 5 � � � � � � � �/March � � � � � � �/ MarchImportant Ratios National Goal 2010 2011

mbtgturs; � � � � � � � �� � �b c & � �� � ' �* � � = � � � � � � � �% � � < � �b c & � �< PSC to Adjusted Net Bank Credit (ANBC) 40 41.29 42.96� � � � � 5 � � � � 7 � � � �� � � � � � � �� � �b c & � �� � ' � G � � � �b c & � �/ Agriculture Credit to Adjusted Net Bank Credit 18 18.68 18.20

� � � � � � 8 % � � � + � � � � � S � � � 1 W � � � � � ' �� � 8 % � � � 1 W � � �/ Micro Enterprises to Total Micro & Small Entp. 50 62.25 50.68

mbtgturs;�� � � � � � � �� � �b c & � �� � ' � � � 7 � � � " # �� � @ � � � � � �b c & �/ Weaker Section Credit to Net Bank Credit 10 10.46 10.54

5 � = � � M � = � � � � � � � � � � � 8 % � � � 3 � - " # � � � S � � � 1 W � � � � � ' � � � 8 % � � � 1 W � � � � � 3 � �J � I L V%� $ � 1 � � � � M � 4 � � � � � � � � � � � " # � � � � � � � + � " # � � ( D ) $ 5 � � � � % 5 � � T J �%U � � �� � � " # � " # �@ � 5 � � . �� � 8 % � � \ �� � S � � �+ � � �� � 4 5 � � � �1 W � � �T + � � + � � + � � 9 � U �% � � < � � � � b c & � � � � � � � � 6 � � " # 6 � � � � � � 3 � 4 � � " # � � � " # � H Q I � �% $ � � � G � E � � � � � � � � � � � � � � � +� � I � � I � � � � � � � � 5 � = � � M � = � � � � � d e I X Q Q � � " # � � ` � � � � � � � � O P " # � d e I� H � V H � " # � � ` � � � � � � � @ � 5 �� .

� 9 � � � � 3 � � � � " # m � � � � � � � � � � $ 7 � $ ( ) $ + � � + � � 9 � � � � 3 � � @ � � � � � � � � � � � � � � � +

@ � + �� � � � � B / � �� � � m �b c & � � ' � $ �� � � � � � � � � @ � $ �� � " # �� � � � � � � �3 � 4 � �� � � � �� � � 5 � �

� - � . � � � I � � I � � � � � � � � 5 � = � � M � = � � � � � � � $ 7 � $ ( ) $ + � � + � � 9 � � � � 3 � � @ � � � �

d e I �V X L I V � � " # � � ` � � � �� L � X � �* � � � � � � � � ' � � � �� � � � � � � � �� 5 � � �@ � 5 � � �� - �

3 � - " # �� � �� � � � 6 � � � � �� � � - " # � � � �� � $ 7 � $ ( ) $ + � � + � � 9 � � � �3 � � @ � � � � �* � � � � � � � � '

$ �� � ! 5 � � � � �� � � � � � � � �� � � �� � � � � n 0 � � � � � 5 � � � � � � � � � � � � � � " # � � � �� � � � � � �� � � �

: ; � � � � � ' � 1 2 � " # � � � - � .

Micro & Small Enterprises has exceeded the NationalGoal (50%) by achieving 50.68% as on Mar’11. Credit

to Micro, Small & Medium Enterprises (MSME) increasedfrom Rs.9771crores to Rs.14384 crores as on31.03.2011, showing a YOY growth of 47.21%.

� Further the Bank has given thrust on credit delivery to

collateral free loans covered under CGTMSE. As on31.03.2011, 26092 proposals have been covered underCGTMSE amounting to Rs.896.80 crores and the Bank

has emerged amongst best performing Banks in termsof number of proposals covered under CGTMSE during2010-11

� ��@CD�� %2�%��%E=����<)���>����%7

� � � � � � � G � � � � 3 � 4 � � � " # � � � 1 W � � @ � � ' � � � � � � � 4 � � � � � 3 � - " # � G � � � � 1 � � � � � � � ' � � �

� 5 � � � � � " # � � � ' � � � � � � 5 � � � � � � � � � � � � * � � = � � � � � � � � % � � < � � b c & � � � � 3 � � @ � � � � � 3 � � �

� � " # � � � � � @ � � � �1 � � � � � � �� � � : ; �� + �� � . ��" # � 9 � � �� � � � g � � @ � �5 � � � � � ( ) � ' � $ �� � � 0 � � � � � � � & �

5 � � � 7 � � � � \ �3 � O P � � � 5 � � ' �T � � $ � � � � �+ 7 � ' ( ) � ' U �� � � � � � �3 � _ � � � � �� � � M Z � � � � �5 � � � 7 � � � � \

M Z � � � � � �+ � � �� � o � � @ � �� � � � � � �3 � � � � �� � � � � � �� � � _ Z ( ) " # � ' h � � � � � � � � �* � - M Z ( ) � � � � " # � ' � �

���0�������&��$�5���7����\��+F��$3�9�h��N����"#�"#�3=�����"#�75����"#�"#

� � � @ � � � h + 7 � ' � � � 5 � � ' � � �� � � = � �� � ( p ) ( ) � � " # � " # � � �3 � � @ � � � � �@ � � � � � � � � � � �� � � � � � � & �

$ �5 � � � 7 � � � � \ �� � $ 7 � �* � � � � " # & � �9 � 9 5 � � ' � � �� � � 0 � � � � � � � & � � $ �5 � � � 7 � � � � .

� New Products / Schemes launched:

The Bank has launched several structured products underPriority Sector Credit to promote agro-based industries andsupport trading of farm produce viz Scheme for Financing toRice Shelling Units,Allbank Liquid Scheme for Artiyas(Commission Agents),Scheme for financing Doctors/MedicalPractitioners for Clinics/Nursing Homes, Scheme forConstruction of Godown under lease agreement with FCI/Central Govt/ State Govt. Corporation /Agencies and Schemefor Seed Processing Units.

Page 20: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

20

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� � � � � $ G � � � � + � @ � + . � � � I � � I � � � � � � � � 5 � = � � M � = � � � � � 9 � � � � ' � � � � 5 � �

" # � � � � �d e I � � Q I X � � " # � � ` � �= � $ .

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� � � � � � � + � � + � � � � $ � � $ � � � 5 � � �7 � � � � : ; � � � � � ' � Y � � " # ! � � � � " # � 7 5 � � � � ' � � 5 � � " # � �� � � ' � � �� � � � 5 � � � @ � �� � � �" # � 7 5 � � � �3 � B = � �1 � = � � � � � � �� � � + �� � g @ � �* � 5 � � � � � ' � � � � � � � M � � � � � � " # � � � � � � " # � � � � � � � � � � � � � 7 � � " # $ � " # ! � � � � - � \ � � � � � � � � � � � 3 � 4 � 7 � � � � � ! 5 � � � � � � � � � � � J H � � R � � � � � ' � � � � � � g @ � � � � � � � � 4 � � + C � * � � � � � � � " # � � � � � � � � � �! � � � �� � - 5 � � " # �� 5 � � �� - � . �+ ( ) $ + � � �� � � � � � 4 � � � � � � � $ �+ �� � � � � � � 9 � � �� � g @ � �� � - � �2 � $ � � � � � � � � � � � � $ � @ � 9 � � � - � � 7 � � � � " # � 7 5 � � � � ' � � � � @ � � C � � � ' � � � � � � g @ � � � � � � � � 4 � � + C* � � � � � � � " # � � $ �� � . �� � �� � � �" # � C � � $ �� � ' �+ � � _ 9 � � �� � ' g � � @ � �� � � � $ � � �2 � $ �� � � � � 8 � $� - � . �� � �� � � �� � � � 5 � 6 � � � � 5 � �� � " # �+ � � + � � � � $ � � $ � $ �� � - q r r ' �3 � 5 � � � � 7 � � � � $ �� �3 � - " # �+ � � + � � � � $ � � $ � � � �" # � 7 5 � � � �� � � � � � �� � � � � � �� � � � � � �+ � � �� � g @ � �� � � � � � � $� � � � $ % � � � � �+ �� � �l � O P �� � � � � � �: ; � � �� � ' �� = � � � � � � � �� 5 � � �� - � .

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b c & � � 5 � � � 7 � � � � � � � � � 6 � � � � 3 � � @ � � � � � d e I � L � J I J � � " # � � ` � � � � b c & �

� � � � � � � � " # � � � " # �� � % 5 � � � �X � I � �%�� � � � � � � � �� 5 � � �� � - .

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� � � a � � " # � � * � � 5 � � � � 7 � � � � � � � � � % � � < � $ 5 � � R � � � � $ & � � � � � � . � � + � 1 0 � " # � * � � � � � � � � � '9 � � � � � � � � � � � � 5 � 8 � � $ � R � � � � $ & � � � � � � � � � � � � � � � � � 3 � - " # � � 8 � � � " # � � � � 4 5 � � * � � � � � � � � � '� � � " # � � � � R � � � � $ & � � � � � � � � � � � � � � � � . � 9 � � � � � � � � � � � � % � � < � $ 5 � � R � � � � $ & � � � � � ' � � � �� � � B � � �b c & � �5 � � � 7 � � � � � � �3 � � @ � � � � �� � � � 6 � � � � �� � � - " # � � � �d e I � L V � I J �"#�� ������%5����������%��deI�L�QI�Q�"#�� ���� ������"#���"#�XQI�L%� � % 5 � � * � � � � � � " # � � � � 5 � � � � - � . � 9 � � � � � � � � � � ' � % � � < � $ 5 � � R � � � � $ & � � � � � ' � � � � � 3 � � � � � � 5 � � � � � � � � � � � � � � � � ' � � � � 4 � � " # � � � � 7 � � " # $ � " # ! � � � � � � � � + � � � � � 6 � � � � � � � � - " # � � �d e I � Q X I � � � " # � � ` � � � � � � � � � � � � 2 � � 3 B 7 � � � � � 5 � � . � � � � � � � � � � � � 2 �� � � X 6 � � � � � � � � - " # � � � � d e I H Q H I � � � " # � � ` � � � � � � � � � � % � � � � � � 6 � � � � � '� � O P " # �d e I J J � I H � � " # � � ` � �� � � � �@ � 5 � � .

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� � � 5 � � � � � � � ( D ) �� � � � ( � ) �� � � � � 5 � 8 � � � � \ �� 5 � � � � � � 5 � �� � � � � � � � � � � � � 3 � ' � � �� � � 4 5 � � � �� � � \+ ( ) $ + � � 5 � � m � � � � � � � � 9 � � � � � g @ � � � � - � � � 3 � - " # � � � � � � � � � � � � � � ! � � + C � ! � � � � � � � �7 � - � � � � � � � � 2 � , � � � � � _ � � � � � ' � � � � 3 � � � � � � � � � � � � + � 3 � 9 � � � $ ( ) $ � � � � � B = � � � � � � � 0 � $ 5 �� � � � � � � � � � � � � � �3 � � @ � � � � �� � � � � �� � � � �3 � - " # �3 � 4 � �7 � � � � � ! 5 � � �� � � � � �� L � V � R � � � � � ' � � � � � � � 5 � � � � � � � � � � � � @ � 5 � � � � - � � 7 � � � � C � � � � � � � � � � � � � � � � � g @ � �3 � 1 ( ) � � � ( ) �! � � � � � " # �� � g @ � �� � � � � � + C �* � � � � � � � $ �7 � � � � $ �� � . �� � a � � " # � �� � � � � � � �� � � - " # � � � �� � H L �@ � � C � � � � �� � % 5 � � � �� � � � � � % � �� � J H �@ � � C � � � ' � � � � � " # � " # � � � � � � � + � + � � + � � � � $ � � � � � � 4 5 � � � � � � � � � � � � ( � ) � � � � � � a � � " # � � � � � � � � � � � �� � � : ; � � 5 � � � @ � 5 � � � � - � .

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� � �� � � �+ �� 7 � � � � � � � � " # � � � � � n " � # ( ) �� � � @ � � " # � � �: ; � � �� � ' �� � � � � � � 7 � � � 5 � � & �

3 � - " # � � � � � � � � � � * � � � � � 3 � � � � � � � � " # � � � " # � 7 � � � � � � � � � � � + � � � � � � 7 � � � � � � � � � �

� Bank’s Exposure to Micro Finance Institutions (MFIs)

18 number of MFI accounts involving Rs.218.54 croreshas been sanctioned by Bank. As on 31.03.2011, thereis an outstanding of Rs.127.93 crores,

� State Level Bankers’ Committee (SLBC)

The Bank as SLBC convener, continued thrust on co-coordinating banking efforts for Economic upliftment ofstate of Jharkhand in association with other banksoperating in the state and drew roadmap for providingbanking facilities to 1541 villages having population over2000. A mobile banking van with ATM was alsooperationalised to cover 12 villages in the state to providebanking facilities. The bank also started one coin vendingmachine at Ranchi. The Bank conducted meetings ofSLBC from time to time and converted the SLBC into astrong forum to discuss and review banking initiativesfor the development of the state.

� Lead Bank Scheme

Under Lead Bank responsibilities in 17 districts( 13 inUttar Pradesh, 2 in Jharkhand and one each in MadhyaPradesh and West Bengal) the Bank disbursedRs.1605.53 crores under District Credit Plan 2010-11achieving 93.31% of the target.

� Regional Rural Banks (RRBs)

The Bank-sponsored two RRBs,one in UP namelyAllahabad UP Gramina Bank and the other in M.P.namelySharada Gramina Bank. The two RRBs cumulativelydisbursed Rs.1637.07 crores during 2010-11 under theAnnual Credit Plan against a target of 1681.50 croresachieving 97.36% of target. The two RRBs continued toimprove their performance with an aggregate profit ofRs.79.20 Crores during 2010-11. The accumulated profitstood at Rs 553.42 Crores in 2010-11 as againstRs.474.21 Crores during 2009-10.

� Financial Inclusion

Bank has been given the responsibility of 2618 villageshaving population of 2000 and above where bankingservices are to be provided by opening of banking outletby March’2012 under ICT enabled Financial Inclusionby adopting various models viz. Biometric Smart Cardsolution through Business Correspondents, MobileBanking Van fitted with ATM, and opening of Brick &mortar branches. During the year the Bank had covered1054 villages against a target of 1046 villagesTransaction by Smart cards through HHD hascommenced.

� CORPORATE SOCIAL RESPONSIBILITY

The Bank, as a responsible Corporate Citizen, hasinitiated several measures towards sustainable

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21

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development of the society reflecting its concern forsocial welfare and developments, some of which are asunder.

� Financial Literacy And Credit Counselling Centres

In order to provide financial education and creditcounselling to the people having limited resources andskills to appreciate the complexities of financial dealings,the Bank has so far opened two Financial Literacy andCredit Counselling Centres christened “Samadhan”- oneat Kolkata (WB) and another at Banda (UP). Setting upof another 11 more FLCCs is in progress.

� Rural Self Employment Training Institute (RSETI)

Bank has so far established 11 Rural Self EmploymentTraining Institute (RSETI) up to 31.03.2011 to impart

training to the rural youths and Farmers for setting up ofsmall business enterprises with hand holding and escortservices. Bank has planned to establish another 10

RSETIs in rest of the lead district during 2011-12.

INTERNATIONAL BANKING

The Bank carries out its International business through its56 authorised/designated branches, which includes 5international branches. Export credit of the Bank as on31.03.2011 stood at Rs.2911.23 crore. The bank is taking stepsto increase the credit flow to exporters. Exporters’ meets arearranged at various centers

Overseas presence

� The Bank is having one overseas branch at Hong Kong,The business of the Hong Kong branch has increasedfrom Rs 1128 cr as on 31.03.2010 to Rs3284 cr as on31.03.2011. The Hong Kong branch has earned a profitof Rs 19.01 cr in 2010-’11 as against a profit of Rs 12.63cr during 2009-‘10

� The Bank is also having a Representative office atShenzhen, China and in terms of regulatory guidelines;the Bank is eligible to open a full fledged branch. TheBank is exploring the possibilities of opening moreoverseas branches.

RETAIL CREDIT

In order to deliver outstanding service to our customer withfocused attention in a specialized manner, the Bank hasdedicated delivery channel for Retail Lending through its 27CRBBs & 75 Retail Banking Boutiques (RBBs) across thecountry. Total outstanding under Retail Credit as on Mar’ 2011stood at Rs. 13028.96 Crore as against Rs. 10082.14 Croreas on Mar’2010. This shows an increase of 29.23 % duringthe year. Disbursement under Retail Credit during 2010-11was Rs. 3868.63 Crore as against Rs.3148.97 Crore during2009-‘10 registering a growth of 22.85 %. Online applicationof Retail Loans through INTERNET at 27 centers wasintroduced. Bank has finalized tie-up with a number of reputedAutomobile manufacturers for financing their vehicles. Bank

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22

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3 � - " # � 7 � � � � $ � � � � N � � � � " # � � � � ( � ) � * � � � � � � � � " # � � � � � � � � 4 � $ � � � � � � � � � � � n � � � � � � � � 5 � 6 � � � � 5 � � � � " #

7 � � " # $ � � + � @ � + � � � � � � 2 � $ � � � � ! � � 3 � ' h � 5 � � � � � 5 � � ' � � � � 5 � � � � � � � � " # � & � 5 � � � � � � 4 � � � � " # � �

� � � � 5 � � � � " # � * � � � � � � � � " # � � � � � � � � � � � � � � R � � ^ � � � � � � 5 � � � @ � 5 � � � � - �

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� � � $ 3 �" # � � $ � � $ � $ �� � $ � � �7 � � � " � # g ( ) @ � �� � � ! � � 3 � ' � � �� � � 4 5 � � � �� � � �� � � � � " � # �R � � � � � '� � � � � � �3 � � � � � � 9 � � �� " # ( � ) � � �b c & � �* � � � � � � g � � @ � �+ � � �� � � � � $ G � � � �� � � � � � 4 � � �9 ( D ) � � � � ( )� � � 9 ( ) �� � " # �1 � � � � � 4 � �� - � .

� 9 ( " # � � � ( ) � � � � � � � � � 9 ( ) � http://www.allahabadbank.in� � � $ � � � 2 � � � � � 3 � '

3 = � � � � � �� � � � � � $ \ �3 R � � 7 � $ �3 � - " # �� � @ � � � � �� � ' �1 � � � � � 4 � �� - � .

� � " # � � � � " � # ( ) �3 � - " # �� 5 � � m @ � � � �� � � � � � � ' �R � � � � � ' �� � � � � � �3 � " # ( ) $ 7 � $ + � � h + � � 9 � + F ( ) $

� � � � 4 � � 3 � � " # & � # � � � � � � � 4 � � � � � � � � = � � 9 ( ) " # � � � ( ) � � � g @ � � � � � : ; � $ � @ � 9 � � � - � � 7 � � �

� � I � � I � � � � �� � � �� � � K 5 � �� - � .

� � � $ � � $ + � � �� � � ( ) � � � � � �� � � = � �� � $ � � $ + � � + �� � $ � � $ + � � � � � � M Z ( ) � � � ( ) $ � � �� � � 4 5 � � �

has launched “Premium Housing Finance scheme for HighNet worth Individuals (HNIs)”and“SARAL- 2” for the employeesof the Organizations/Institutions, where the salaries aredisbursed through Bank’s branches.

FEE BASED INCOME

The income from the Third Party Product (TPP) Business(Life, Non Life, Mutual Fund) grew by 12.07 % to reach at Rs19.69 Crores during FY 2010-11 from Rs 17.57 Crores in thelast FY. Bank’s corporate General Insurance partner UniversalSompo General Insurance Company has designed a specialhealth insurance policy (Universal Sompo’s SampoornaSwasthya Kavach) for the customers and the employees ofthe Bank. The policy is for the protection against spiralingmedical cost and available for individuals & families.

RISK MANAGEMENT

The Bank has implemented Basel II norms for calculation ofCapital Adequacy Ratio under Standardized Approach forCredit Risk, Modified Duration Approach for Market Risk andBasic Indicator Approach for operational Risk for the year2010-11.

CUSTOMER SERVICE

The Bank’s “Customer Service Committee of the Board” iscommitted towards excellence in customer service. Thesuggestions of the Committee on Procedures andPerformance Audit on Public Services (CPPAPS), constitutedby Reserve Bank of India, are accorded top priority forimplementation in the Bank. The Bank is making constantendeavour to strive for and achieve an ideal situation ofcomplaint free environment.

KNOW YOUR CUSTOMER & ANTI MONEY LAUNDERINGS

The Bank has adopted the comprehensive policy guidelineson Know Your Customer/ Anti Money Laundering Norms inconsonance with the Reserve Bank of India directives. Theguidelines for submission of mandatory returns viz. CashTransaction Reports (CTRs), Suspicious Transaction Reports(STRs) and Counterfeit Currency Reports as per the provisionsof the PMLA, 2002 have been issued from time-to-time andall branches/offices have been sensitised on submission ofthese return within the prescribed time limit

INFORMATION TECHNOLOGY

� As on 31.03.2011, the Bank has implemented CBS inall its branches

� Online Retail Loan processing and sanction to thecustomers of the lead generating branches of CRBBhas been made available in the intranet site.

� The Internet Website http://www.allahabadbank.in isavailable in 3 languages i.e. Hindi, English andvernacular language Bengali.

� The Internet banking for both the individuals and forcorporate customers with RTGS/ NEFT fund transferfacilities has been started and is live since 01.01.2011.

� Mobile banking Van with ATM through CDMA VPN

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23

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+ � � + � � + � � � + � � ( � ) � 7 � � � " � # ( ) � � + � 7 � � � � � � � � .

� 3 � " # ( ) $ 7 � $ +� �h + � � 9 � + F ( ) $ � � � � � � Q � � � � � ! � � 3 � ' � � � ' � � � � 9 � � � � 5 � � � @ � 5 � �� - � .

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R � � � � �� � � � � �� � � � �1 � � � � � � �� � � : ; �� + �� � �.

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��I�HI����������� �����7����!����3�4���"#���3� ���"#����!����"#$%���T3�"#��$3�9�+U � � �3 � � � � � �� � � 5 � � �� - � �� . �9 � � �* � & � � � � $ � � �3 � � @ � � � � �� � � ! � � � � " # $ % � � � $ �5 � � � 7 � � � � �� � � ! � � � � 7 � � � � ! � � � � * � � � F � 9 � � � � � � � � � 2 � � � � � ' � � � - 5 � � " # � $ � 7 � � � � $ � � - � � 3 � - " # � � � � ! � � � � " # $ % � �� � � � � 4 � � � � ' � � � �1 � � � �7 � � � � ! � � � �� � � � � � �% � � < � � ' � $ �3 � � " # �� � @ � � 5 � � �7 � � � � � �� - � .

�=��� =��

� � � � $ �* � � 5 � � �� � � ! � � �3 � - " # � � 5 � � � � � 5 � �� � ' �� � � � � � " # �� � � � � � � � �� � � � � � � � � �

@ � q r r � � � � 5 � � � @ � 5 � � � � - � � 3 � - " # � � � � � � � � � � � � ! � � 3 � ' h � 5 � � � � � 5 � � ' � � � ' � � � � � � � " #

� � � � � � � � �� � � � � � � � � $ �� a � � � � � � � �� � - q r r � ' � � �3 � 5 � � � 7 � � � �� 5 � � �7 � � � � � �� � - .

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� 1 � � � �� � 8 � 5 � � � �� � � � � @ 4 � �� � � � � � � � � � � $ �7 � � C � � �� � � � � � �3 � _ F �� � � 9 ( ) �� � � _ � � � ( ) g " # @ �* � & � � � � $ � � � @ � q r r � � � $ � � � � � � � � $ � @ � 9 � � � - � .

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� � � � � 5 � � � � " # � � 5 � � � � � � � � + � 3 � 5 � � � � 7 � � � � $ � � � .

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� " # � 7 � 2 � � � � � �� � $ � � � � � �3 � � @ � � � � �� � � � 2 � , � �* � � � � 4 � � � � � ' � � �3 � � � � � � � � � � �� � � � � � M � � � � �

� 5 � � �@ � 5 � � �� � - \ �7 � - � � � ��" # � 7 � 2 � � � � � �3 � 4 � � � � 5 � � � � $ �4 � � " # � �� T � U � � �3 � � @ � � � �

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� � < � � ' � � � 1 0 � " # � � � � � � � $ � � � ' � � � � 5 � � � 7 � � � � � \ � � � � - � 5 � � 3 � � � � � � � � � � � 3 � ' � �

� a � 2 � � � � � �: ; � � �� � ' �* � � � � � � \ �� � � ! � � � �� � � � � R � $ � � �� a � 2 � � � � $ " # & � �3 � � � � .

� " # � 7 � 2 � � � � � � � 5 � � � � � � 5 � � � � � �% � � < � �� � ' �� � " # � � � � � $ 5 � � � 5 � � � � � � � � � � � � � � � �� � � +� � � � � " � # �� � � � � �� � � � � �� � � V 6 � X �� � � � � � �" # � 7 � 2 � � � � � �� � � 2 � � @ � \ �@ � G � � �� � < � � � � 5 � \

connectivity with CBS network has been introduced atDumka, Jharkhand,at Kasraila branch under Sitapur Zoneand at Khaira branch in New Delhi Zone.

� Beta version of Mobile banking application deployedsuccessfully in test region.

� In line with the directives of CBEC/RBI/IBA, EASIESThas been rolled out in entire India. Bank has 183authorized branches, which are participating in theproject. E-Payment facility for Indirect Taxes (CBEC-EASIEST) for Tax payers and this facility is available tothe customers of all branches. This facility is alsoavailable through e-payment on Internet banking.

� The Bank has implemented Cheque Truncation Systemunder NCR (National Capital Region) of Delhi. Theimplementation of CTS in Chennai grid is in progress.

� SMS Alerts is operational and on an average 31000SMS Alerts are generated.

� RTGS / NEFT have been made live in 2372 branches.

� In arrangement with M/s UAE Exchange and FinancialServices Ltd., Bank has launched two products namelyX-press Money and Money Gram for making hassle freeinward Remittances.

INSPECTION AND AUDIT

Bank has switched to on line Risk Based Internal Audit (RBIA)from 1st April 2010. Under this system the audit plan is

prepared with reference to the Risk Profile of the branch andaudit resources are directed towards high risk areas.

VIGILANCE

� Preventive Vigilance Committee has been formed atevery branch & office of the bank. Bi-monthly PreventiveVigilance Committee Meetings are organized at allbranches/offices.

� Bank’s Quarterly Newsletter on vigilance issues called‘ALL-ALERT’ is Introduced

� Initiative has been taken for formation of Off-siteMonitoring System to screen high value suspectedtransactions.

� Preventive vigilance workshops at various zones all overIndia were conducted during the year.

OFFICIAL LANGUAGE

� Compliance of various provisions under the OfficialLanguage Policy was ensured viz bilingual issuanceof documents under Section 3 (3) of Official LanguageAct, reply of Hindi letters in Hindi, bilingual publicationof manuals & codes, bilingualisation of stationery itemswas ensured.

� Bank was awarded prestigious “Indira GandhiRajbhasha Puraskar” for the year 2008-09 for excellent

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24

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� � ��/����"#$5���� ���:;�����'�12�"#����$�����������'��� �a��"#������������8 7�$ � �� � � � � � � � � �� � � � � � � � �� � � � � � � �� � � 5 � � �@ � 5 � � . �� � � � 6 � � � � �� � � - " # � � � �� � �� � ����Q�3�4���"#5��'�T��������z��3�4���"#5��'��������U�3�-"#�XX��������$5�� � @ � � � � � � � � � � � � " # 5 � � ' � $ �2 � � � u �* � � K 5 � � �3 � " # 2 � � $ .

� � � � � � � � � � � � - " # � � � � * � � � � % � & � �3 � - " # � % � � � � � � � � � � � � � � & � � � � " # �3 � 5 � � 4 � � � � � � � � � � 5 � �@ � 5 � � �. �� � � � � � � � � �� � � " # l � � 5 � � � �3 � � � : ; � � �� � � � � � � �� � � - " # � � � �� � � � � � � �� � 8 C 7 � $ �� � � � � � �9 � 6� � o � � @ � � + � � � * � � � � % � & � h 3 4 5 � 5 � � � � � � 3 � 5 � � � � - M � � � � 1 , � � � � � � - � � � � � ' � � � " # � F $ � � � � � � � � � 5 � � � @ � 5 � � .

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� � � � � � � � � � � � � � � � � � 6 � � � � � � � � - " # � � � � � � � $ � > ? � � � � 3 � - " # � { � � � � � � � � � � � � � ���OP����������+�(�)��$���7���\�"�#���5����3�-"#���������"#��<��'h���<��3�'\��������� @�3 � � � � � � �� � � 4 5 � � � �� � � �" # � � ( D ) � 5 � � � � $ �* � � � � " # �3 � 2 � 5 � � � � �� � � � � 5 � � . �#

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� 3����� �F�9����������I�9�������������� �����8&�������������������$�3����� @�$ � � � � $ �� - � �7 � � � � � " # � � � � " � # ( ) �) �� � � � � � � � " # �� � � � � � \ �� � � " # 5 � � � 7 � � � � �� � 8 � 5 � � � � \ �9 � 5 � 8* � � � 4 � � � \ # �b c & � �� � � � 8 � � � � \ �� � � � � ' � � " # �3 � - " # �( D ) �( ) $ � � � � � �3 � � " # " # � 9 g ( ) @ � � � � � � �

performance in the area of Official LanguageImplementation from Official Language Department,Ministry of Home Affairs, Government of India. The prizewas received by our Chairman and Managing Directoron 14th September, 2010 from His Excellency, Mohd.Hamid Ansari in presence of Hon’ble Union HomeMinister and Hon’ble Union Home Ministers of State.

� Our Chairman and Managing Director received FirstPrize for Bank’s Bilingual House Magazine TriveniDhara and Third Prize for official languageimplementation 2008-09 from Shri D. Subbarao,Hon’ble Governor of Reserve Bank of India in the PrizeDistribution Ceremony held on 26.05.2010 at theCentral Office of R.B.I., Mumbai.

� Bank has secured “First Position” in linguistic region“A” and “Third Position” in linguistic regions “B” and “C”under “Resereve Bank Rajbhasha ShieldCompetition”for the year 2009-10.

� Bank has secured Third Position for our HouseMagazine Triveni Dhara under the Reserve BankBilingual House Magazine Competition 2009-10 amongall the public sector banks and financial institutions.

� Two participants of our Bank secured ‘First’ and ‘Second’position in linguistic groups ‘A’ and ‘B’ respectively in the

All India Inter Bank Hindi Essay Competition 2009-10organised by Reserve Bank of India.

� Under the Town Official Language ImplementationCommittee prizes, Bank’s Head Office received the“Rajbhasha Shield”, Zonal Office, Dehradun received the‘First Prize’, Zonal Office, Lucknow, Rajmahal RoadBranch, Baroda and Staff Training Centre, Hyderabadreceived the “Second Prize” and Zonal Office Hyderabadreceived the ‘Third Prize’ for excellent implementation ofOfficial Language.

HUMAN RESOURCES DEVELOPMENT

� The Bank laid prime importance on developing humancapital in tune with its quest to emerge as a bank of globalstature. During 2010-11, the Bank undertook processesfor recruitment of 1,117 Officers (including SpecialistOfficers) & 990 clerical cadre employees.

� Training and capacity building was given paramountimportance. Much emphasis was laid on e-learning andother alternate advanced channels of training/learningof the human capital during the year, in tune with thechanging scenario.

PUBLICITY ENDEVOURS

� The bank has gone for nation-wide campaign onTelevision, Radio, and Newspapers/Magazines,hoardings etc. during the year 2010-11 for enhancingBank’s image and brand visibility.

SUBSIDIARY & JOINT VENTURE

� All Bank Finance Ltd., a wholly owned subsidiary ofAllahabad Bank, engaged in Corporate AdvisoryServices, Project Appraisal, Issue Management, Loan

Page 25: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

25

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� ] � $ � @ � � - " # � � � � � � � � � � � � � L I � V I � � � � � � � � � � � � � � � � $ � 3 � � � 4 � � � � � � � +

� � � @ � � " # �� � � � � � � � � � �: ; � � �� � ' � � 5 � � 2 � � " # �R � � � & � �� 5 � � . �] � $ �@ � � - " # �� � � � �

� � � � & � 7 5 � �� � � � � � �� - � �3 � - " # �1 � � ' � �� V �� � � � � [ � � �3 � � � 2 � � � �� - � .

� � � � � � � � �� � � - " # � � � �] � $ �� � � � � � � � � � � �� � � � � � " # \ �] � $ � � I � � I �� � � � @ � " # � �+ � � �] � $ � � � � $7 � � � � @ � � � � " # � � - " # � 3 � � � � � � � 5 � � � � � � $ � � � � � � M � � � � � � � � � � � � � � p � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � G 0 � � � � � + .

Syndication Debenture and Trusteeship Underwriting,posted a profit of Rs. 2.80 crores during 2010-11.

� The Bank holds 27% equity stake in Asset ManagementCompany “ASREC (India) Ltd” along with other Banks/Institutions

� The Bank holds 30% equity stake in joint venturecompany “Universal Sompo General InsuranceCompany Limited” for general insurance business alongwith Indian Overseas Bank, Karnataka Bank Ltd., DaburInvestment Ltd. and Japanese insurance major Sompo.

FUTURE PLANS

� The Bank will focus on Retail Business, LoanSyndication, Sale of Gold Coins CMS andBancassurance etc in addition to other core bankingactivities.

� The Bank is planning for overseas expansion.

BOARD OF DIRECTORS

� The Board of Directors, the Management Committeeand the Audit Committee of the Board met 15, 22 and 9times respectively during 2010-11. The Director’sPromotion Committee, Shareholders’/Investors’Grievance Committee, IT Sub-Committee, FraudMonitoring Committee, Customer Service Committee,Remuneration Committee, Risk ManagementCommittee, Nomination Committee, Share transferCommittee, Share Allotment Committee and FlatPurchase Committee met 5, 1, 8, 7, 4, 1, 4, 1, 18, 1 and2 times respectively during 2010-11.

� The RBI Nominee Director, Shri Ramaswamy joinedthe Board as Director from 30.07.2010. ShriRamaswamy is working as Chief General Manager(CGM), Expenditure & Budgetary control, at Central OfficeRBI Mumbai.

� Shri Sudip Chaudhuri joined the Board asShareholders’ Director from 03.06.2010. Shri Chaudhurihas been serving Indian Institute of Management,Calcutta as Professor (Economics Group) since 1990.

� Shri R.M.Chaturvedi joined the Board as GovernmentNominee Director under Chartered Accountant categorywef 14.07.2010 for a period of 3 years. Shri Chaturvediis a Chartered Accountant and is having 26 years ofexperience.

� Shri Gour Das joined the Bank as workmen EmployeeDirector wef 16.08.2010 for a period of 3 years. Shri GourDas is a Commerce Graduate and is having 38 years ofbanking experience.

� During the year Shri Mohammad Tahir, Shri K. K. Dogra& Smt. Joginder Kaur retired from the Board of Directorsafter completion of their tenure.

Page 26: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

26

ACKNOWLEDGEMENTS

The Board of Directors records its appreciation for continuedsupport and patronage of the shareholders/investors of theBank. The Board of Directors gratefully acknowledges thevaluable and timely advice, guidance and support from theReserve Bank of India, Government of India and otherregulatory agencies and look forward to their continued supportand co-operation. The Board of Directors is thankful to thecustomers for their continued trust and confidence on theBank.

The Board records its appreciation for valuable contributionsof the outgoing members and welcomes the new incumbents.

The Board of Directors is pleased to place on record theirappreciation of the committed services of the Bank’semployees.

For and on behalf of the Board of Directors,

Chairman & Managing DirectorDate : 02.05.2011Place : Kolkata

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� � ��& � H I � I � � � �P �� � � � � � � �� � � 9 � � 0 � � �! � � � �� � � � � � � � � � 0 � � Q � �! �� � � H I �� � � � � � � �-.�/0������-.�/0����1������!��2345�0 � �& � � � 7 � 0 � �� � � �

: � � � � � * � + � � ' � � � � � � � � � � ' � � � � � � � � � * + � � � � : � � � � �fUtu� � Z � � � � � � � � � � � � � � ) F ' � � � ' � � � � � ( � � � �Y[ � � � � � � ' � � � � � ' � � � � ( � � � � � � ) - � � � � � � � & � � Z � � � � � � � � � � � ' � � � � ( � � �

& � � � ] � 2 - � � ! � � � � � � ) F ' � � � � � � � � � 0 � � � � " � � � � � � � � � � � � � � � � 6 � 0 � � & � � � � ( � � � � ) 5 � � � � " � � � � � � ) - � � � � � � � � � � � � � � � � � � � � � � � � � � - � � : � � , � 2 � � � � � � � � � ' � � � � � �

� � * + � � � � : � � � � � � � �� � � � � � % � �� � � � � � � � J K � �� � � � �� � � � � � � � � ; � � � L � � � � � � � � � �� � � � � � �� � �" � � � 7 � � �" � � \ � K �� � � �� � � - � �� � : � �,

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28

MARKET DISCLOSURE UNDER BASEL-IINEW CAPITAL ADEQUACY FRAMEWORK AS ON 31.03.2011

RISK MANAGEMENT

1. Consequent upon globalization, Banks and other financial institutions all over the world are exposed to differenttypes of risks. The emergence of Basel-II accord and its increasing applicability throughout the world calls for soundpractices in risk management. To cope with the challenges, the Bank has put in place various risk managementpractices and processes in line with the guidelines of the Reserve Bank of India issued from time to time.

2. The Bank’s risk management objectives broadly covers proper identification, measurement, monitoring / control andmitigation of the risks towards enhancing and maximizing the shareholders’ value by addressing appropriate tradeoff between an expected reward and potential risk.

3. The Bank has set up appropriate risk management organization structure. Board Level Sub-Committee known as“Risk Management Committee” has been constituted in terms of RBI guidance note on Risk Management System.The Committee evaluates overall risks faced by the Bank and put in place effective system to identify measure,monitor and control risk. The committee further integrates various risk management functions at committee level.i.e., integration through Credit Risk Management Committee (CRMC), Operational Risk Management Committee(ORMC) and Asset Liability Committee (ALCO).

4. General Manager (Integrated Risk Management) is looking after functioning of risk management aspect in integratedmanner at Bank’s Head Office, who is independent of business departments, for implementing best risk managementsystems and practices in the Bank.

5. In line with the guidelines issued by the RBI, the Bank has implemented New Capital Adequacy Framework (Basel-II) with effect from March 31, 2008. The Basel-II framework, as referred, is based on three mutually reinforcingpillars. While Pillar-1 of the revised framework addresses minimum capital requirement for Credit, Market andOperational risk, Pillar–2 (Supervisory Review Process) intends to ensure that the banks have adequate capital toaddress all the risks in their business commensurate with Bank’s risk profile and control environment. As required,the bank has put in place a Board approved policy on Internal Capital Adequacy Assessment Process (ICAAP).

6. Pillar-3 refers to Market Discipline. As directed by the RBI, a set of disclosures (both qualitative & quantitative) arepublished in Tables DF 1 to DF 10 (annexed) with regard to risk management in the bank, which will enable marketparticipants to access key information on the scope of application, capital risk exposures, risk assessment processes,bank’s risk profile and level of capitalization etc. This would also provide the market participants with the necessarydata to evaluate the performance of the bank in various parameters.

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29

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30

Qualitative Disclosures

a) The name of the top Bank in the group to whichthe framework applies.

b) An outline of differences in the basis ofconsolidation for accounting and regulatorypurposes, with a brief description of the entitieswithin the group

i) that are fully consolidated;ii) that are pro-rata consolidate;iii) that are given a deduction treatment; andiv) That are neither consolidated nor deducted

(e.g. where the investment is risk-weighted).

a) The framework of disclosures applies to Allahabad Bank, whichis the top bank in the group.

b) The Bank’s subsidiary /Associates and Joint venture are as under:Subsidiary: The Bank has one subsidiary as under:

Associates: Two Regional Rural Banks sponsored by the Bank areas under.

Name of Subsidiary Country of OwnershipIncorporation (%)

All Bank Finance India 100%

* Our two erstwhile RRBs in the state of UP, namely Lucknow KshetriyaGramin Bank and Triveni Kshetriya Gramin Bank have ceased toexist and a new amalgamated RRB, i.e., Allahabad UP Gramin Bankhas come into existence w.e.f. 02.03.2010.Joint Venture: The Bank has invested in Joint Venture Insurancecompany and Asset Securitisation company as under:

The Subsidiary, Associates and Joint Ventures are consolidated inthe Statement of Accounts as per Accounting Standard 21, 23 and27 respectively of Institute of Chartered Accountants of India (ICAI).

For computation of CRAR of the Bank, investment in Subsidiary,Associates and Joint Ventures are deducted from Tier-I and Tier-IIcapital equally as per RBI guidelines.

1 The aggregate amount of capital deficienciesin all subsidiaries not included in theconsolidation i.e. that are deducted and thenames of such subsidiaries.

2 The aggregate amounts (e.g., current bookvalue) of the Bank’s total interests in insuranceentities, which are risk weighted as well as theirname, their country of incorporation orresidence, the proportion of ownership interestand if different the proportion of voting powerin these entities. In addition, indicate thequantitative impact on regulatory capital ofusing this method versus using the deduction.

There is no deficiency in respect of any subsidiary.

The Bank has made investment amounting to Rs 45.00 Crores byway of equity subscription in an insurance joint venture i.e., UniversalSompo General Insurance Company Limited incorporated in India,representing 30% of the company’s paid-up capital. Investment inthe joint venture insurance company is deducted equally from Tier-Iand Tier-II Capital of the Bank as per RBI Guidelines, since the Bank’sinvestment is above the level of significant investment, which is 20%or more of the investee entity’s paid-up capital.

QUANTITATIVE DISCLOSURES

Table DF – 1

SCOPE OF APPLICATION Position as on 31.03.2011

Name of Banks Country of OwnershipIncorporation (%)

Allahabad UP GraminBank* India 35%Sharda Gramin Bank India 35%

SLNo (Amount: ��In crores)

Name of Company Country of OwnershipIncorporation (%)

M/S Universal SompoGeneral insuranceCompany Limited India 30%

M/S ASREC (INDIA) LTD. India 27.04%

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31

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� � � ��& � � � # � �7 � � � � � � �� � ) F ' � � i 476.22

� � = ��" � � � � Y � � 0 � � � � F i 7179.79

� � E ��� � � � � � � � � � L � � �7 � � � � 0 � �N O � �� - � ( � 0 � 300.00

� � R ��" � � � �� � ) F ' � � �� - � ( � 0 � i —

� � T � � � ( � �! � � � �� � � � � � 7 � �� � � * + 0 � �� H I � � � � .I�� � ) F ' � � �� � � � H I � � 0 � � � � �: � 2 ; �� � � � 7 � � � � F 58.61

� � j � - � �� H I � � � � .I� � ) � ' � � 7897.40

2 � H I � � � � .II� � ) � ' � � � � � � - � �� � � � 7 � �P � H I � � � � .II�� � ) � ' � � �� � � � H I � � 0 � � �Atu\zfU� Q 4044.77

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E � � � - � �� � � � � � �� � � � 7 � 1000.00

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E � E � � ) � ' � � : � 0 � �� � � � 6 � � � �� � � � �� � �: � � � � � �* � + 0 � � �� � � 9 � �� � � � 7 � 1000.00

R � - � � � " � � �� �� H I � � � .II�� � ) � ' � � �� � �7 � � � � � - � � � � � � � �* � + 0 � � �� � � 9 � �: � � � � �N O �

R � � � - � �� � � � � � �� � � � 7 � 2611.90

R � = 2 � � � � � �� � � �5 � � - � ) �� � L � ; � � �� � � � � � � � � �> : � � * + � �: � 2 ; �� � � � 7 � 0.00

R � E � � ) � ' � � : � 0 � �� � � � 6 � � � �� � � � �� � �: � � � � � �* � + 0 � � �� � � 9 � �� � � � 7 � 2351.91

T � � � ) � ' � � �� � � �" � � � � H I � � � 0 � � � � � �� � � � � � � � 2 ; �* + � � 58.61

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32

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31.03.2004 200.00 99� � � * +

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5.90% 40.00 � � � ! � � 2 ; � � �! � � ! � � 2 ;

2 31 � � � 5 � ; � � � � W L �

13.03.2006 500.00 120� � � * +

� � � � � . ! !+� Z � � � - � . ! !+

8.00% 400.00! � � ! � � 2 ;

3 � E � � � � 5 � ; � " � � � � � � � � 0 � � � � � �" 6 � ; � � � � W L �

29.09.2006 561.90 120� � � * +

� � � � � . ! !+� Z � � � - � . ! !+

8.85% 561.90 ! � � ! � � 2 ;4 = k � � � � 0 � � � � � � � � � � W L �

25.09.2007 500.00 120� � � * +

� � � � � . ! !+� Z � � � - � . ! !+

10.00% 500.00 ! � � ! � � 2 ;5 31 � � � 5 � ; � � � � W L �

26.03.2009 400.00 120� � � * +

� � � � � . ! !+� Z � � � - � . ! !+

9.23% 400.00 ! � � ! � � 2 ;6 = j � � � � 5 � ; � � � � W L �

04.08.2009 450.00 120� � � * +

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8.45% 450.00 ! � � ! � � 2 ;7 R � " : � � 0 � � � � � W L �

� - � 2611.90 2351.90

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33

1 The amount of Tier 1 capital, with separate disclosure of:

1.1 paid-up share capital; 476.22

1.2 reserves; 7179.79

1.3 innovative perpetual debt instruments; 300.00

1.4 other capital instruments; —

1.5 amounts deducted from Tier-I capital, including goodwill and investments. 58.61

1.6 Total Tier-I Capital 7897.40

2 The total amount of Tier-II capital (net of deductions from Tier -II capital) 4044.77

3 Debt capital instruments eligible for inclusion in Upper Tier-II capital

3.1 Total amount outstanding 1000.00

3.2 Of which amount raised during the current year 0.00

3.3 Amount eligible to be reckoned as capital funds 1000.00

4 Subordinated debt eligible for inclusion in Lower Tier 2 capital

4.1 Total amount outstanding 2611.90

4.2 Of which amount raised during the current year 0.00

4.3 Amount eligible to be reckoned as Capital funds 2351.91

5 Other deductions from capital, if any. 58.61

6 Total eligible capital (Tier-I + Tier-II) 11942.17

Table DF – 2

CAPITAL STRUCTURE

Summary information on the terms and conditions of the mainfeatures of all capital instruments, especially in the case ofcapital instruments eligible for inclusion in Tier 1 or in UpperTier 2.

The terms and conditions of Tier-I & Tier II Bonds issuedby the Bank from time to time adhere to applicable RBIguidelines in this respect.

Qualitative Disclosures

Information about Innovative Perpetual Debt Instruments eligible under Tier-I:

Position as on 31.03.2011

SLNo

Quantitative Disclosures (Amount ��In crores)

S.N. DATE OF

ALLOTMENT

BONDAMT. (in

Rs. Crores)

COUPON RATE

TENOR LISTED RATING

1 30.03.2009 150.00 Perpetual CARE- AACRISIL- AA+

INTEREST PAYMENTDATE

9.20% 30th March every year NSE1 150.00 Perpetual9.20% 30th March every year NSE

2 18.12.2009 150.00 Perpetual CARE- AACRISIL- AA+

9.08% 18th December everyyear

NSE

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34

Information about Subordinated Debt Instruments eligible under Lower Tier-II:

Information about Innovative Instruments eligible under Upper Tier-II:

S.N. DATE OF

ALLOTMENT

BONDAMT. (InCrores)

COUPON RATE

TENOR LISTED RATING

1 19.03.2009 500.00 180 months CARE- AACRISIL- AA+

INTEREST PAYMENTDATE

9.28% 19th March every year NSE1

2 18.12.2009 500.00 180 months CARE- AACRISIL- AA+

8.58% 18th December everyyear

NSE

S.N. DATE OF

ALLOTMENT

BONDAMT. (InCrores)

COUPON RATE

TENOR LISTED RATINGINTERESTPAYMENT DATE

BOND AMT.(Discounted)

(in crores)

1. 31.03.2004 200.00 5.90% 99 40.00 31st March BSE & CARE- AA+months Annual NSE FITCH- AA

2. 13.03.2006 500.00 8.00% 120 400.00 13th March and NSE CARE- AA+months September CRISIL-AA+

(Semi annual)

3. 29.09.2006 561.90 8.85% 120 561.90 29th September NSE CARE- AA+months Annual CRISIL-AA+

4. 25.09.2007 500.00 10.00% 120 500.00 31st March NSE CARE- AA+months Annual CRISIL-AA+

5. 26.03.2009 400.00 9.23% 120 400.00 26th March NSE CARE- AA+months Annual CRISIL-AA+

6. 04.08.2009 450.00 8.45% 120 450.00 4th August NSE CARE- AA+months Annual CRISIL-AA+

TOTAL 2611.90 2351.90

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35

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36

Table DF – 3

CAPITAL ADEQUACY

Qualitative Disclosures

A summary discussion of the Bank’s approach to assessing the adequacy of its capital to support current and futureactivities:

1. The Reserve Bank of India (RBI) introduced a Risk Asset Ratio System for banks in India as a capital adequacymeasure covering the elements of Credit Risk in April 1992.The Balance sheet assets, non-funded items and other off-balance sheet exposures are assigned prescribed risk weights and banks have to maintain unimpaired minimumcapital funds equivalent to the prescribed ratio on the aggregate of the risk weighted assets on an on going basis.Banks were advised to ensure capital adequacy at a minimum level of 4% on the aggregated risk weighted assetsincluding both fund based and non-fund based exposures by 31st March-1993 and 8% by 31st March-1996. The Minimumlevel of Capital Adequacy was increased to 9% subsequently. These guidelines together are known as Basel-I guidelines.

2. On 27th April, 2007, the RBI released the “Final Guidelines for implementation of the New Capital Adequacy Framework”under Basel-II. In addition, the RBI issued clarifications on 31st March, 2008 on certain issues related to the subject.Incorporating some intermittent changes, the RBI released the master circular on Prudential Guidelines on CapitalAdequacy and Market Discipline- New Capital Adequacy Framework on July 01, 2010. These guidelines make cleardistinction between Credit, Market and Operational risks.

3. In line with the RBI guidelines, the Bank migrated to the New Capital Adequacy Framework (Basel-II) with effect from31.03.2008. The Bank is continuing with the parallel run of Basel I norms and studying the impact on Bank’s CRAR onquarterly basis with a view to ensuring compliance with the guidelines under “prudential floor”.

4. Basel-II Framework provides a range of options for determining the capital requirements for Credit Risk, Market Riskand Operational Risk. In accordance with the RBI’s guidelines, the Bank has adopted Standardized Approach (SA) forCredit Risk, and Basic Indicator Approach (BIA) for Operational Risk to compute capital as on 31st March, 2010 alsolike as on 31st March 2008 and 2009.. The Bank continues to apply the Standardized Duration Approach (SDA) forcomputing capital requirement for market risks with effect from 31st March, 2008. As such, in addition to maintainingcapital for credit risk and market risk as hitherto, the Bank maintains capital for operational risk from 31.03.2008.

5. Reserve Bank of India prescribes Banks to maintain a minimum Capital to Risk-weighted Assets Ratio (CRAR) of 9percent with regard to credit risk, market risk and operational risk on an ongoing basis, as against 8 percent prescribedin Basel Documents. The total Capital to Risk Weighted Assets Ratio (CRAR) as per Basel – II guidelines works to12.96% as on 31.03.2011. The Tier-I CRAR stands at 8.57% as against RBI’s prescription of 6.00%. In computation ofcapital for credit risk under Standardized Approach, the Bank has relied upon the data captured from each individualbranch through the CBS system. The Bank has used the credit risk mitigants in computation of capital for credit risk, asprescribed in the RBI guidelines under Standardized Approach. The data for Operational Risk and Market Risk havebeen consolidated at Head Office.

6. The Bank is continuously evaluating its capital requirement. The capital infusion of � 670 crores by the GoI throughpreferential allotment of shares has taken the Govt.’s share up to 58%, thus leaving sufficient headroom for the Bankto mobilize Tier I and Tier II capital to additionally support capital structure and meet the CRAR requirements againstcurrent and future business expansion.

Position as on 31.03.2011

1 Capital requirements for Credit Risk:

1.1 portfolios subject to standardized approach 7209.10

1.2 securitization exposures 0.00

2 Capital requirements for Market Risk(Standardize Duration Approach 460.18

2.1 interest rate risk 348.90

2.2 foreign exchange risk(including gold) 2.71

2.3 equity risk 108.57

3 Capital requirements for Operational Risk (Basic Indicator Approach) 624.95

4 Total and Tier-1 Capital Ratio:

4.1 Total CRAR 12.96%

4.2 Tier-I CRAR 8.57%

SLQuantitative DisclosuresNo (Amount � in Crores)

Page 37: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

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R�R � � � �N O � � � � �� � � � � � � S � 0 � �* � + 0 � � �� � � � � � � � 1 � $ � 0 � �� � * � + . � 0 � � � � � � �� � � � � � � 6 � � � � �7 � � 8 �� � � � � 5 � � � � � � �" � � � � � � � � � � � 0 � � �* � + , �� � ! A � � � � � � � 6 � ; � � 7 � � - � �& � � 0 � � � � � �� � � � �� � � 5 � � � � � � � � � � � �� - � ! �& � 6 � � � � � � � � � ; - � � � ��" � � � � �Y � � 9 � �� � * + � & � � � � 6 � �� 0 � � � � � �� � � � �Z � � J K H I �� a � J K � � �: � C D � � �� � � � �: � � � � �* � + , ��� � � � � � W � � L H I � H I . " � u ] �� � � �" � 6 � � � �� � !N O � �& � � 0 � � � � � �� � � � �� � � X � � � 0 � 0 � @ �" � � � � � � � � � � � �& � � � � � � � � � � � � �* � + 0 � � �" 6 � � Y � �! � � � �& � � � � 6 � �� � � � � � 7 � � � �" 6 � � Y � 0 � � �� � �& � 6 � � � � � � � � � ; - � � � �� 0 � � � �� � � � �� � � � � �� � � � � � � � � �� � � � ) * + �P ! � � � � � ' � � Q �� � � � � �� � � � � 5 � � � � � � �: � C D � � �� � � � �: � � � � �* � + , �� � � � � �� � � � � �� � ! �> 0 � � � � � � �* � + 0 � � �' � � � � ( � � � �& � � � � 6 � � � �� � � � � 5 � � � � �* � + �' � � � �� � ! �> 0 � � � � � � � � �� � � � � � 6 �� � �> � � � �7 � � � � � � � � � � �� � � �� � ) � � ; �� � � ) � � 0 � � � �& � � Z � � � A � � ) - � � � � � � �� � � � � � � � J K � � � � �� � � 6 � � ; � � � 0 � � � � 0 � � �* � + ,

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38

F(������ #����(����� (������������ �-����-��NO ��'����(����![�����'����������6��"�6�����0��!����:����.����6��"�6�����0��"-�:�."-�:�

� � � � � � � � � 6 � � " � 6 � � � � � 0 � 94570.93

� � = � � � : � � � � . � � � � 6 � � " � 6 � � � � � 0 � 13788.87

= � ! [ � � � � � ' � � � � � � � � � : � � � � - � � � � � 0 � � � �= � � � � � � � � � 7 � � � @= � � � � � � � � � � 6 � � " � 6 � � � � � 0 � 2902.98

= � � � = � � : � � � � � � � � � 6 � . " � 6 � � � � � 0 � 122.78

= � = ��^ � � � � - � ) �@= � = � � � � � � � � 6 � � " � 6 � � � � � 0 � 91667.95

= � = � = � � : � � � � � � � � � 6 � . " � 6 � � � � � 0 � 13666.09

E > ` � � : � � � � � � � � � � � � � ! [ � � � � � ' � � � � � � � � � 0 � � � �� � � � � � � � � � � � � � 6 � � " � 6 � � � � � 0 � 41742.00

: � � � � . � � � � 6 � � " � 6 � � � � � 0 � 12079.73 +

2�����-��������I/�(�;�6

4. " � 1 � 0 � � � � � � � � " � � � 7 � L H I � � � � � � � � � � : � 0 � � � � � � � � � [ � � 0 � � � P E � � U E � = U � � � � � � � � $ � � � � $ � � 0 � � " � � � 0 � � � � � � � � � � � � H � � � � � � � � � $ � � 0 � I Q

" � : � - � � 5 � � L � ; �! � � �

� � � � � 2-7 � � � � � 8-14 � � � � � 15-28 � � � � � 29� � � � �-3� � � * + 3-6� � � * + 6-12 � � � * + 1-3y � � L � ; 3-5 � � L � ; " � 6 � � - �

" � � � 0 � 2042.93 5998.39 4174.14 3677.17 16628.69 9481.81 7493.66 40289.05 18069.74 43430.78 151286.36

T ! � � � � � ! � � � � � � � 7 � � P � � - � Q 1647.92

T � � � � " � � � � � � � 767.79

T � = � � � � � � � � : 6 � � � � 295.65

T � E � � � � � � � � : 6 � � � = 186.81

T � R � � � � � � � � : 6 � � � E 314.76

T � T � � * + � � � � : � 0 � 82.91

j � � � � � - � � ! � � � � � ! 736.37

d ! � � � � � ! � " � � � � � � 0 �d � � ��� � - � �" � a � � � �� � �� � - � �! � � � � � ! 1.74%

d � = ��� � � � � - � �" � a � � � �� � �� � � � � - � �! � � � � � ! 0.79%

V ! � � � � � ! � � � � � � 5 � - � � � � P � � - � QV � � ��" $ � �7 � � L � 1221.80

V � = ��� � S � X � 1747.07

V � E �� � � � 1320.95

V � R ��2 � 0 � 7 � � L � 1647.92

k ! � � � � � ! � * � + 0 � � � & � � � � 6 � � � � � � � � � � 5 � - � � �k � � ��" $ � �7 � � L � 1751.65

k � = � � 2 � � � " � � � 6 � � � � � � � � � � � � � � � ! � : � ! � & � � � � 6 � � � � 800.00

k � E ��� � � 2 H I �" � u ] 719.90

� � � � � � � � � � � k � R � " � 0 � � � � 8 � & � � � � 6 � � � � � � � � � � 2 H I � � � � 31.80

k � T ��2 � 0 � 7 � � L � 863.55

�U " � � ' � ; � � � � � � � 7 � � � � � � � � 7 � 2.40

�� " � � ' � ; � � � � � � � 7 � � * � + 0 � � � � ! � : � ! � & � � � � 6 � � � � � � � � � � � � 7 � 2.40

�= � � � � � � 7 � � � � � � ) - � � q � � � � * � + 0 � � � & � � � � 6 � � � � � � � � � � � 5 � - � � �� = � � �" $ � �7 � � L � 251.80

� = � = �2 � � �" � � � 6 � � � �� � � � � � � � � �� � � � �: � � � � �& � � � � 6 � � � � 130.85

� = � E �� � � 2 H I �" � u ] 0.00

� = � R �" � 0 � � � � 8 �& � � � � 6 � � � � � � �� � � 2 H I �� � � 84.87

� = � T ��2 � 0 � �7 � � L � 297.78

P�� � � � � \ K � � � Q

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39

Table DF – 4

CREDIT RISK : GENERAL DISCLOSURES

Qualitative Disclosures

1. Credit Risk:

1.1. Lending involves a number of risks. Credit Risk is broadly the probability of losses associated with diminution inthe credit quality of borrowers or counterparties.

1.2. Credit Risk or default risk involves inability or unwillingness of a customer or counterparty to meet commitmentsin relation to lending, trading, hedging, settlement and other financial transactions. The Credit Risk is generallymade up of transaction risk or default risk and portfolio risk.

1.3. Credit approving authority, prudential exposure limits, industry exposure limits, credit risk rating system, riskbased pricing, loan review mechanism and Credit Risk Mitigants are the instruments used by the bank for creditrisk management. Credit risk is controlled through segmental exposure limits to various industries and sectors,prudential exposure and substantial exposure ceilings and risk mitigation by obtaining collateral and guarantees.

2. Credit Risk Management Policies:2.1 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 CreditRisks carried by the Bank can be identified, quantified, managed and controlled within the framework which theBank considers consistent with its mandate and risk tolerance limits.

2.2 Credit Risk is monitored by the Bank account wise and compliance with the risk limits / exposure cap approved bythe Board is ensured. The quality of internal control system is also monitored and in-house expertise has beenbuilt up to tackle all the facets of Credit Risk.

2.3 The Bank has taken earnest steps to put in place best Credit Risk Management practices. In addition to CreditRisk Management Policy, the Bank has also framed Board approved Lending Policy, Investment Policy, CountryRisk Management Policy, Recovery Policy etc. which form integral part in monitoring of credit risk and ensurescompliance with various regulatory requirements, more particularly in respect of Exposure norms, Priority Sectornorms, Income Recognition and Asset Classification guidelines, Capital Adequacy, Credit Risk Managementguidelines etc. of RBI/other Statutory Authorities.

2.4 Besides, the Bank has also put in place a Board approved policy on Credit Risk Mitigation & Collateral Manage-ment which lays down the details of securities and administration of such securities to protect the interests of theBank. These securities act as mitigants against the credit risk to which the Bank is exposed.

3. Architecture and Systems of the Bank:3.1 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.3.2 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 Bank’s Risk Management functions on a regular basis.4. Credit Appraisal / Internal Rating:

4.1 The Bank manages its credit risk through continuous measuring and monitoring of risks at each obligor (bor-rower) and portfolio level. The Bank has robust internally developed credit risk grading / rating modules and well-established credit appraisal / approval processes.

4.2 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 specificcredit enhancement features while assessing the overall rating of a borrower. The data on industry risk is con-stantly updated based on market conditions.

4.3 The rating for every borrower is reviewed. As a measure of robust credit risk management practices, the bank hasimplemented a three tier system of credit rating process for the loan proposals sanctioned at Head Office Leveland two tier system at Zonal Office/ Branch level which includes validation of rating independent of credit depart-ment. For the proposals falling under the powers of Bank’s Head Office, the validation of ratings is done at RiskManagement Department.

4.4 The Bank follows a well defined multi layered discretionary power structure for sanction of loans. Credit Grid hasbeen constituted at Head Office and Field General Manager’s levels for considering fresh / enhancement propos-als. A structure named New Business Group (NBG) headed by CMD has been constituted at Head Office level forconsidering in-principle approval for taking up fresh credit proposals above a specified cut-off point. The Bankhas put in place a risk management framework for new products which lay down minimum processing / assess-ment norms to assess risk in a New Product prior to its introduction.

Position as on 31.03.2011

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40

SL Quantitative DisclosuresNo

(Amount � in Crores)

1 Total gross credit risk exposures, Fund based and Non-fund based separately.

1.1 Fund Based 94570.93

1.2 Non Fund Based 13788.87

2 Geographic distribution of exposures

2.1 Overseas

2.1.1 Fund Based 2902.98

2.1.2 Non Fund Based 122.78

2.2 Domestic

2.2.1 Fund Based 91667.95

2.2.2 Non Fund Based 13666.09

3 Industry type distribution of exposures

Fund based 41742.00

Non Fund based 12079.73

4. Residual contractual maturity breakdown of assets (bucket wise position of assets as on 31.03.2011)

Next Over 5 yearsday 2-7 ds 8-14 ds 15-28 ds 29ds-3mth 3-6mths 6-12 mths 1-3yrs 3-5yrs & Over Total

ASSETS 2042.93 5998.39 4174.14 3677.17 16628.69 9481.81 7493.66 40289.05 18069.74 43430.78 151286.36

(� in crores)

SL Quantitative DisclosuresNo

(Amount � in Crores)

5 Amount of NPAs (Gross) 1647.925.1 Substandard 767.795.2 Doubtful 1 295.655.3 Doubtful 2 186.815.4 Doubtful 3 314.765.5 Loss 82.91

6 Net NPAs 736.377 NPA Ratios

7.1 Gross NPAs to gross advances 1.74%7.2 Net NPAs to net advances 0.79%

8 Movement of NPAs (Gross)8.1 Opening balance 1221.808.2 Additions 1747.078.3 Reductions 1320.958.4 Closing balance 1647.92

9 Movement of provisions for NPAs9.1 Opening balance 751.659.2 Provisions made during the period 800.009.3 Write-off 719.909.4 Write-back of excess provisions 31.809.5 Closing Balance 863.55

10 Amount of Non-Performing Investments 2.4011 Amount of provisions held for non-performing investments 2.4012 Movement of provisions for depreciation on investments

12.1 Opening balance 251.8012.2 Provisions made during the period 130.8512.3 Write-off 0.0012.4 Write-back of excess provisions 84.8712.5 Closing balance 297.78

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41

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� � � � � � � S 0 � � p � 1 L H I � � � � � � " 6 � � � � � ' � � �� ( � � � � > � � 7 � � � � � � � � � � � � � � � � � � 7 � � � � � �

! [ � � � � � ' � � � � * � + 0 � � � � � � � � � � - � � ( � 0 � � 0 � � � � � & � � � � ( � � ' � � � � ( � � � � Y � � 9 � � � � � � � � � � � � � � � � � �

P � � � 6 � � ; � � � 0 � � ! � � � � " � � � 6 � � ; � � � 0 � Q � � � � $ � � * + � � ' � � � � ^ � H I � ! � : � ! � * � + ,

� � � � P Q ��� U U%�' � � � � ( � � � �� � � � � � 0 � �� � � � � � �. ��P � � � � 6 � Q RdRk=�Ud

� � � � P ( � Q ��� U U%�' � � � � ( � � � �� � � � � � 0 � �� � � � � � �. P : � � � � . �� � � � 6 � Q Rdj=k�ER

� � = � P Q ��� U U%�' � � � � ( � � � �� � � � � � 0 � �. P � � � � 6 � Q EV�Td�TT

� � = �P ( � Q ��� U U%�' � � � � ( � � � �� � � � � � 0 � . �P : � � � � . �� � � � 6 � Q �=��V�kR

� � E �P Q ��� U U%�' � � � � ( � � � �� � � � � � 0 � �� � � �" � 6 � �. P � � � � 6 � Q VRV��TR

� � E �P ( � Q ��� U U%�' � � � � ( � � � �� � � � � � 0 � �� � � �" � 6 � . �P : � � � � . � � � � 6 � Q =jVk�Vj

� � �R ���^ � H I � � � � �: � � � � —

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42

Table DF – 5

CREDIT RISK : DISCLOSURES FOR PORTFOLIOS SUBJECT TO THE STANDARDIZED APPROACH

Qualitative Disclosures

1. General Principle:

In accordance with the RBI guidelines, the Bank has adopted Standardized Approach of the New Capital AdequacyFramework (NCAF) for computation of capital for credit risk with effect from 31.03.2008. In computation of capital, theBank has assigned risk weights to different asset classes as prescribed by the RBI.

2. External Credit Ratings:

2.1 The Reserve Bank of India has permitted Banks to use the external ratings of the following External Credit RatingAgencies (ECRAs) namely (a) Credit Analysis and Research Ltd. (CARE), (b) CRISIL Ltd., (c) FITCH India Ltd.and (d) ICRA Ltd for mapping of risk weights for domestic exposures and (a) Standard & Poor (b) Moody’s (c)Fitch for international exposure. In consideration of the above guidelines, the Bank has decided to accept theratings assigned by all these ECRAs, under the Policy on Rating of Claims by ECRAs duly approved by theBoard.

2.2 In order to facilitate the process of external rating and enabling the customers to solicit external ratings for theirexposures smoothly, the Bank has taken initiatives by entering into separate MOU with all these four ECRAs.The Bank shall use the ratings assigned for any type of exposures by any of these ECRAs as accepted andprovided by the borrowers. External ratings assigned, fresh or reviewed, at least during the previous 15 monthsshall only be reckoned for capital charge computation by the bank. Wherever, a borrower possesses more thanone rating from ECRAs, the guidelines prescribed by the RBI is followed as regards to assignment of risk weightfor computation of capital. Accordingly, the Bank has taken into consideration the borrower’s loan exposureratings assigned by approved ECRAs, while computing capital for credit risk as on 31.03.2011 under segmentsnamely Corporates and PSEs.

2.3 In case of Bank’s investment in particular issues of Corporate / PSEs, the issue specific rating of the approvedECRAs are reckoned and accordingly the risk weights have been applied after a corresponding mapping torating scale provided in RBI guidelines.

2.4 The Bank encourages large corporate/ PSE borrowers to solicit ratings from ECRAs and has used theseratings for calculating risk weighted assets wherever such ratings are available.

Position as on 31.03.2011

1 For exposure amounts after risk mitigation subject to the standardised approach,amount of the Bank’s outstandings (rated and unrated) in the following three majorrisk buckets as well as those that are deducted;

1.1 (a) Below 100 % risk weight (Funded) 47492.07

1.1 (b) Below 100 % risk weight (Non- Funded) 47629.34

1.2 (a) 100 % risk weight (Funded) 38157.55

1.2 (b) 100 % risk weight (Non- Funded) 12118.94

1.3 (a) More than 100 % risk weight (Funded) 8481.54

1.3 (b) More than 100 % risk weight (Non- Funded) 2689.86

1.4 Deducted—

SL Quantitative DisclosuresNo (Amount � in Crores)

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43

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��V����5�������V<�������3������=>��������Z=>'���������;����?�-����'�����=>�6]��� "=>�� "���(����=>���#$����

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44

Table DF – 6

CREDIT RISK MITIGATION : DISCLOSURES FOR STANDARISED APPROACHES

Qualitative Disclosures

1. A comprehensive policy on valuation of property, plant & machinery, has been approved by the Board.

2. 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 movableand immovable assets/landed properties etc.

3. Where personal/corporate guarantee is considered necessary, the guarantee is preferably that of the principal membersof the group holding shares in the borrowing company/ flagship Group Company of corporate. It is ensured that theirestimated net worth is substantial enough for them to stand as guarantors.

4. In line with the regulatory requirements, the Bank has put in place a well-articulated Policy on Credit Risk Mitigation andCollateral Management duly approved by the Bank’s Board.

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

6. Besides, other approved forms of credit risk mitigation are “On Balance Sheet Netting” and availability of “EligibleGuarantees”. 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 riskcapital, 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) Bankguarantee in form of bills purchased/discounted under Letter of Credit (20% or as per rating of foreign banks).

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

SL Quantitative DisclosuresNo (Amount � in Crores)

(a) For each separately disclosed credit risk portfolio the total exposure(after, where applicable, on- or off balance sheet netting) that is covered byeligible financial collateral after the application of haircuts.

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

5257.18

Nil

Position as on 31.03.2011

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45

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47

Table DF-7

SECURITISATION: DISCLOSURE FOR STANDARDISED APPROACH QUALITATIVEDISCLOSURES

Qualitative Disclosures

(a) The general qualitative disclosure requirement with respect to securitisation, includinga discussion of:

� the bank’s objectives in relation to securitisation activity, including the extent towhich these activities transfer credit risk of the underlying securitised exposuresaway from the bank to other entities;

� the nature of other risks (e.g., liquidity risk) inherent in securitized assets

� the various roles played by the Bank in the securitization process (e.g., originator,investor, servicer, provider of credit enhancement, liquidity provider) and an indi-cation of the extent of the Bank’s involvement in each of them

� a description of the process in place to monitor changes in the credit and marketrisk of securitization exposures (e.g., how the behavior of the underlying assetsimpacts securitization exposures as defined in para 5.16.1 of the Master Circularon NCAF dated 01.07.2009)

� a description of the Bank’s Policy governing the use of credit risk mitigation tomitigate the risks retained through securitization exposures

(b) Summary of the bank’s accounting policies for securitisation activities, including:

� Whether the transactions are treated as sales or financings

� Methods and key assumptions (including inputs) applied in valuing positions re-tained or purchased

� Changes in methods and key assumptions from the previous period and impactof the changes

� Policies for recognizing liabilities on the balance sheet for arrangements that couldrequire the Bank to provide financial support for securitised assets.

(c) In the banking book, the names of ECAIs used for securitisations and the types ofsecuritisation exposure for which each agency is used.

No securitization during theyear ended 31.03.2011

Nil.

Not Applicable

(d) The total amount of exposures securitised by the bank

(e) For exposures securitized, losses recognised by the bank during the current periodbroken down by exposure type (e.g., credit cards, housing loans, auto loans, etc.detailed by underlying security)

(f) Amount of assets intended to be securitized within a year

(g) Of (f), amount of assets originated within a year

(h) Total amount of exposures securitized (by exposure type) and unrecognized gain orlosses on sale by exposure type.

(i) Aggregate amount of:

� on-balance sheet securitisation exposures retained or purchased brokendown by exposure type and

� off-balance sheet securitisation exposures broken down by exposure type

(j) Aggregate amount of securitisation exposures retained or purchased and theassociated capital charges, broken down between exposures and furtherbroken down into different risk weight bands for each regulatory capitalapproach

� Exposures that have been deducted entirely from Tier 1 capital, credit en-hancing I/Os deducted from total capital, and other exposures deducted fromtotal capital (by exposure type).

SL Quantitative Disclosures : Banking Book

No (Amount � in Crores)

Nil.

Position as on 31.03.2011

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48

SL Quantitative Disclosures : Trading Book

No (Amount � in Crores)

(k) Aggregate amount of exposures securitised by the bank for which the bank hasretained some exposures and which is subject to the market risk approach, byexposure type.

(l) Aggregate amount of:� on-balance sheet securitisation exposures retained or purchased broken

down by exposure type;� off-balance sheet securitisation exposures broken down by exposure type.

(m) Aggregate amount of securitisation exposures retained or purchased separatelyfor:� securitisation exposures retained or purchased subject to Comprehensive

Risk Measure for specific risk; and� securitisation exposures subject to the securitisation framework for specific

risk broken down into different risk weight bands.(n) Aggregate amount of:

� the capital requirements for the securitisation exposures, subject to thesecuritisation framework broken down into different risk weight bands.

� securitisation exposures that are deducted entirely from Tier 1 capital, creditenhancing I/Os deducted from total capital, and other exposures deductedfrom total capital(by exposure type).

Nil.

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49

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�����#�K���������>&���������"#��FG&�����'�������= E������?��(���!0�C��������3������� ��&��Y������#�������#�K����������������$ *� 45�6'�������������78(��"�P�H ��\��&�������#��C�����

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1.1 ����-��&$���-����.��� 348.90

1.2 (H`��=>��H�5�����-����.��� 2.71

1.3 ���&�$���������������-����.��� 108.57

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50

Table DF – 8

MARKET RISK IN TRADING BOOK

Qualitative Disclosures

a) Market Risk:

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

2. Policies for Management of Market Risk:

The Bank has put in place Board approved Asset Liability Management Policy for effective management of Market Riskin the bank. Other policies, which also deal with market risk management, are Investment policy, Policy on Risk Man-agement of Foreign Exchange Operations, Policy Guidelines for Undertaking Trading in Forex Market and Policy onDerivatives. The policies set various risk limits for effective management of Market Risk and ensuring that the opera-tions are in line with Bank’s expectation of return to market risk through proper Asset Liability Management. The policiesalso deal with the reporting framework for effective monitoring of Market Risk.

3. The ALM Policy specifically deals with liquidity risk management and interest rate risk management framework. Asenvisaged in the policy, Liquidity Risk is managed through GAP analysis, based on residual maturity/behavioral patternof assets and liabilities, on a daily basis based on best available data coverage, as prescribed by the RBI. The bank hasput in place mechanism of Short Term Dynamic Liquidity Management and Contingent Funding Plan. Prudential (Toler-ance) limits are prescribed for different residual maturity time buckets for efficient Asset Liability Management. Liquidityprofile of the Bank is evaluated through various liquidity ratios.

4. Interest Rate Risk is managed through use of Gap analysis of rate sensitive assets and liabilities and monitored throughprudential (tolerance) limits. The Bank estimates Earnings at Risk (EaR) periodically against adverse movements ininterest rate (as prescribed in the policy) for assessing the impact on Net Interest Income and Economic Value of Equity(EVE) with a view to optimize shareholder value.

The Asset Liability Management Committee (ALCO)/Board monitors adherence of prudential limits fixed by the Bankand determines the strategy in light of market conditions (current and expected) as articulated in the ALM policy. TheMid Office at the Treasury also monitors adherence of prudential limits on a continuous basis.

SL Quantitative DisclosuresNo (Amount � in Crores)

1. The total capital requirements for Market Risk 460.18

1.1 Interest rate risk 348.90

1.2 Equity position risk 2.71

1.3 Foreign exchange risk 108.57

Position as on 31.03.2011

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51

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52

Table DF – 9

OPERATIONAL RISK

Qualitative Disclosures

1. Operational Risk is the risk of loss resulting from inadequate or failed internal processes, people and systems orfrom 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 policiesadopted by the Board which deal with management of various areas of operational risk are (a) Compliance RiskManagement Policy (b) Forex Risk Management Policy (c) Policy Document on Know Your Customers (KYC) andAnti Money Laundering (AML) Procedures (d) Business Continuity and Disaster Recovery Policy (e) Fraud RiskManagement Policy etc.

3. The Operational Risk Management Policy adopted by the Bank outlines organization structure and detailedprocesses for management of operational risk. The basic objective of the policy is to closely integrate operationalrisk management system into the day-to-day risk management processes of the bank by clearly assigning rolesfor effectively identifying, assessing, monitoring and controlling / mitigating operational risks and by timely report-ing of operational risk exposures, including material operational losses. Operational risks in the Bank are man-aged 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 computingcapital for Operational Risk.

Quantitative Disclosures

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

2. As per the guidelines, the capital for operational risk is equal to 15% of average positive annual Gross Incomeof previous three years as defined by RBI. Accordingly, the capital requirement for operational risk as on31.03.2011 is � 624.95 Crores.

Position as on 31.03.2011

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53

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54

Qualitative Disclosures

Table DF – 10

INTEREST RATE RISK IN THE BANKING BOOK (IRRBB)

(a) Interest Rate Risk in the Banking Book:

1. Interest Rate Risk is the risk which affects the bank’s financial condition due to changes in the market interest rates.Changes in interest rates affect both the current earnings (earnings perspective) as also the net worth of the Bank(economic value perspective). The risk from earnings perspective can be measured as impact in the Net InterestIncome (NII) or Net Interest Margin (NIM). Similarly, the risk from economic value perspective can be measured in theEconomic Value of Equity (EVE).

2. The Bank identifies the risks associated with the changing interest rates in short term (Earnings perspective) and longterm (Economic value perspective). The impact on income (Earnings perspective) is measured through use of Gapanalysis by applying notional rate shock up to 100 bps as prescribed in Bank’s ALM Policy. For the calculation ofimpact on earnings, the Traditional Gap is taken from the Interest Rate Sensitivity Statement and based on the remain-ing period from the midpoint of a particular bucket and the impact for change in interest rate up to 100 bps is arrived at.The same is reported to ALCO & Board along with the Interest Rate Sensitivity Statement periodically. The limits arefixed on the net worth.

3. The bank has adopted Traditional Gap Analysis combined with Duration Gap Analysis for assessing the impact on theEconomic Value of Equity (Economic Value perspective) by applying a notional interest rate shock of 200 bps. TheDuration Gap Analysis is calculated by the bank once in a month (based on the Last Reporting Friday data) and isreported to ALCO and Board.

4. The Asset Liability Management Committee (ALCO) / Board monitors/reviews adherence of prudential limits fixed bythe bank and determine the strategy in light of the market condition (current and future).

SL Quantitative DisclosuresNo.

1. Change in Interest Rate Earning at Risk

1.00% 33.83

2. Change in Interest Rate Change in Economic Value

2.00% 11.02%

(Amount � in Crores)

Position as on 31.03.2011

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55

REPORT ON CORPORATE GOVERNANCE

1. Corporate Governance Philosophy

Allahabad Bank’s corporate policy is based on sound principlesof Corporate Governance. It holds high the shareholder’s valuewhile catering also to the need of the economy, nationalpriorities and corporate growth. The Bank believes in highstandard of ethical values, transparencies and disciplinedapproach to achieve excellence in all fields of activities. It isalso committed to comply with the best international practicescoupled with openness and fairness, which will lead the Bankto enjoy from customers and shareholders a Tradition of Trust.The Bank seeks to proclaim corporate excellence by

� Upholding the shareholders’ value within the principles ofethics and legal framework of the country.

� Extending best of services to its customers.

� Proclaiming a free and fair environment for its customersand employees, investors and other sections of the societyat large.

� Ensuring a proactive management free from bias, ensuringfair justice to all sections of the society.

2. Board of Directors

2.1 The constitution of Board of Directors is governed by theprovisions of the Banking Regulation Act, 1949, BankingCompanies (Acquisition and Transfer of Undertakings) Act,1970 and Nationalized Banks (Management &Miscellaneous Provisions) Scheme 1970. The Directorsbring in wide range of expertise and experience to theBoard, facilitating proficient and unbiased direction to theBank.

The Chairman & Managing Director and two ExecutiveDirectors are three whole time Directors appointed by theGovernment of India. The other Directors include thefollowing:-

(a) A representative each of

i) Government of India (GOI)

ii) Workmen

iii) Officers Employees (Presently lying vacant)

(b) One director possessing necessary expertise andexperience in the matter relating to regulation orsupervision of commercial bank, to be nominated by theCentral Govt. on the recommendation of RBI

c) Three Independent Shareholders’ Directors

d) One Chartered Accountants Director appointed byGovernment of India

e) Three part-time Non-Official Directors (One post presentlylying vacant)

2.2 Committees of Board

The Board has constituted various committees as mentionedhereunder which provide specific and focused governance inthe important functional areas and controls the affairs of theBank: -

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� � � 1 � � � � � � � 8 � � � D � � E 7 � � � � & � � � � # � � � � 0 � 8 � % � � � � � � � � � @ � � � � � ! " � � � �1 � � % � � � " � � � � � � � � 0 � � � � � � � � � 6 � � = � � � � $

� ! � � � � � C � � � � � � � � � � � � � � > ? � 0 � � � � � � � / � � � � � � � � � � � $

� ! � � � � � C � � � � � � � � & � � � 0 � ' 7 � � � � � % � � � � � � � � � 1 � � � ! � # � � � � 0 � � ) � � � ! � % � � � � � � � � � � � � 6 6 � = � � � � � 6 � � @ � � � F � � � & � � � � : � & � � � � � � # % � � � � � � � � � � $

� � � 0 � � ) � � � � � G � � � � � � � H � � � � � 6 � � � � � � � � 2 � 6 � � @ � � 0 � � � � � % � � % � � � � � � � : 1 7 � � �� � � � � � � � � � � 6 � � � I % � / � � � @ " � � � � � � � � � : 1 7 � � � � � � � � � $

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��� � � � � � 1 � � 0 � @ A B � � � � � � J K K � � � � � L � � � � � � � � � % � 0 � ! � " � � � � % � 0 � M N O N � � � � L � � �� @ � � � � � P 4 � � I 0 � � � � ! ) � ' � � 6 � � @ ! @ � � � � ; � Q ! � " � � � � % � 0 � M N R S � � & � �� � � , � - . � % � � 5 � � � � � � P / � � � @ " � � � 6 � � @ / � � � ; � ' / � � � � " � � � � Q % � � � ) � � � � M N R S T � � � �1 � � � � � � � � � � � � � � � # � $ � � � � � 1 � � � � ; � � � � � A ' B � � � � � � � � � ; � � � � � � � � # � � � " % � � � � � � & � �� � � � � � 5 � � ! � � � G � � � / � � � � � � � � � � � � � � � ) � � � � � � � � � � � � � � 2 � 6 � � @ � � � , � � 2 �� � � � � 1 � / � � � � � � � � � � � � � # � $

! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � � � � & � � � � � � � % � ' � � � � � � � � � � � 1 � � G � � � � � �� � � � � � � � T � � � � � � � % � � U ;el� � 8 ; � ' � � � � � � � � � � � 1 � � � � � $ ! � % � � � � � � 1 � � � 0 � � � � 0 � � � � � � = � � � 1 � � � 0 � � � � � � V

P � Q � � � 0 � � � � � � = � � � 0 � � � � / � � % � � � � � 6 � / � � � � � � � � " � Vi) G � � � � � � � � � � � � � �ii) � � 0 � � � � � �iii) ! � " � � � � � � � 0 � ' 7 � � � � � (rVUÖtntÖt v= rhÿU ni)

P = � Q � � � � ; � : ) % � � � � � � � � � � � � � � � % � 0 � � � ! & � � � � � � % � ' � � � 2 � ; � � � 0 � � 0 � � � � � � � � @ � � @ " �0 � ! � � � 1 % � � � � � 1 � � , � W � � � � ! � # � � ! � � � G � � � � � = � � � � � � � � � � 6 � � � � � � 1 � � � � �G � � � � � � � % � � � � ) � � � ' � � � � � � � � @ � � � � � � � � � � � � � � X � � � � � � � � T � � � � � � � � 0 � � � � � % � �) � � � � � � # � $

P � � Q � � � � � � � � � � @ 3 � 1 � � % � � � " � � � � � � � � � � 1 � �

P Y � Q G � � � � � � � � � � � � � � T � � � � � � � % � � U � � � � � � � � � = � � � � � � � � � � � 1 � �

P Z [ Q � � � � � ! @ 1 � � � � � � � � � # � � ( � � � � � � � � � � � � � � 1 � � (rVUÖtntÖt 6 � v= rhÿUni)

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� � � � A ' B � � � � � � 0 � � � � U � � � � � � � � � � � � � G � \ � � � � 0 � � � � % � � � � � � J K K � � � � % � � � # � ) � � � 0 � � � � � � � � 8 ; � '� � % � � ' � 0 � � 2 � � 3 � � 0 � � � � 1 � � , � 6 � � @ � � @ � � : � X � � � � � � � � � � � � � � / � � � � � � � � � � � nî� 6 � � @ � � � � � � 0 � � 0 � � � � � � � � � % � @ 3 � ; � � � � � � � nî V

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56

� Management Committee of the Board (MCBOD)� Audit Committee of the Board (ACB)� Risk Management Committee (RMC)� Directors’ Promotion Committee (DPC)� Shareholders’/ Investors’ Grievances Committee (SIGC)� Information Technology sub Committee (ITSC)� Fraud Monitoring Committee (FMC)� Customer Service Committee (CSC)� Remuneration Committee (Remu. Comm)� Nomination Committee ( Nom. Com)� Share Transfer Committee (STC)� Flat Purchase Committee((FPC)� Share Allotment Committee(SAC)

2.3 The responsibilities of the Board include formulation ofpolicies, new initiatives, performance review and controland sanction of cases falling beyond the powers delegatedto various functionaries of the Bank. Board has constitutedvarious committees and delegated powers for differentfunctional areas. The Board as well as its committeesmeets at periodic intervals.

2.4 The composition of the Board of Directors as on31-03-.2011 was as under:

����� ��������� ���!�#�$������� ��%� &�!���������������� �!��' &�!�����(���)�������

���������!� �� ��������Name Designation Date of Membership No of other

appointment of other Board Directorship(s)

& Committees1. ] � � ) � � ^ � � � ^ � 8 ! � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � �

Shri J.P. Dua Chairman & Managing Director 04-12-2009* 10 2

2. ] � � A B � ^ � � � � � � � � � � % � ' � � � � � � � � � � � 1 � � Shri D. Sarkar Executive Director 07-12-2009 9 1

3. ] � � 6 0 � ^ ! � � � ^ � � � % � � � � % � ' � � � � � � � � � � � 1 � � Shri M.R. Nayak Executive Director 22-01-2010 9 1

4. ] � � 6 � � ^ � � � 0 � � � � � 0 � � G � � � � � � � � � T � � � � � � � � 0 � � � � � � � � 1 � � Shri S. Ramaswamy RBI Nominee Director 30-07-2010 4 —

5. ] � � 0 � � � � � � � � 5 � � � � � � � = � � � � � � � � � T � � � � � � � � 0 � � � � � � � � 1 � � Smt. Sukriti Likhi Government Nominee Director 10-06-2008 7 1

6. ] � � ! � � � ^ 6 0 � ^ 7 � � � � � � > � � � � � � � � � � � = � � � � � � � � � � � 1 � � Shri R.M.Chaturvedi Chartered Accountant Director 14-07-2010 4 —

7. ] � � � � � ^ � � � ^ � � � � A B B � � � _ B � ! @ 1 � � � � � � � � � # � � ( � � � � � � � � � � � � � � 1 � � Shri P.V.Gudireddy Part Time Non Official Director 28-04-2008 4 —

8. A B � ^ 1 � � � � � ( 4 ` � a ( ` � 0 � � � � ! @ � � � � � � ! @ 1 � � � � � � � � � # � � ( � � � � � � � � � � � � � � 1 � � Dr. Shakeel-Uz-Zaman Ansari Part Time Non Official Director 08-05-2008 3 —

9. ] � � � � � # � � � � � � � � 0 � � � � � � � � � � � 1 � � Shri Gour Das Workmen Employee Director 16-08-2010 3 —

10. ] � � � � � � � < � � � � � 0 � � � � � � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � � Shri Deveshwar Kumar Kapila Shareholders’ Director 30-06-2008 9 2

11. A B � ^ � � � � � � � � � � � � 8 � � � � � � � # ) � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � � Dr. Vasant Baburao Kaujalgi Shareholders’ Director 12-06-2009 3 —

12. ] � � � � � � � � � 7 � � # " � � � � 1 � � % � � � " � � � � � � � � � � 1 � � Shri Sudip Chaudhuri Shareholders’ Director 03-06-2010 4 —

* ¶e su. ve. =qyt 07-11-2007 mu 03-12-2009 ;fU cîfU fuU fUtgovtÖtfU rl=uNfU :u* Shri J.P. Dua was the Executive Director of the Bank from 07-11-2007 to 03-12-2009

� � � � � A B ' � � � / � � � @ " � � � � � � 0 � � � � P 6 0 � � � � � � � ! � � A B � Q� � � � � A B ' � � � � � � = � � � � � � � 2 � � � � � 0 � � � � P 6 � � � � � � Q� ) � � � � = � 0 � / � � � @ " � � � � � � 0 � � � � P ! � � � 6 0 � � � � Q� � � � � � 1 � � � � � � � � � � \ � � � � � � � 0 � � � � P A B � � � � � � � Q� 1 � � % � � � " � � � � � � b � � � � � � 1 � � � � � � 1 � � � % � � � � � � 0 � � � � P 6 � � ! � � ' ) � � � � � Q� � � 8 7 � � � � / � � # c � � � � � � � 4 � � � � � 0 � � � � P ! � � ' � . � 6 � � � � � Q� " � � � = � � " � d B � � � � � � � � � � � � � � � 0 � � � � P 6 F 6 0 � � � � Q� C � � � � � � � � � � � � � � 0 � � � � P � � � 6 � � � � � Q� � � � � � � � : � " � � � � 0 � � � � P � � � � � ^ � � � 0 � Q� � � � 0 � � @ � � � � � � 0 � � � � P � � � 0 � � @ ^ � � � 0 � Q� 1 � � % � � � ! @ � � � � ; � � � � 0 � � � � P 6 � � � . � � � � Q� e � � # � . I % � � � � 0 � � � � P 6 F � � � � � � Q� 1 � � % � � � ! � � � @ � . � � � � � 0 � � � � P 6 � � 6 � � � Q

��* � � � � A ' B � � � � � % � � � � � 0 � � � � � � � % � � � � � � � " � � ' � � ; � � � � � ' � � � � � � � � � % � ' � � � , � � � � � �� � 0 � � 2 � � � � & � � � � � % � @ 3 � ; � 6 � � @ � � � � � � � � � � G � \ � � � % � � ' � " � � � � � � % � � � � � / � � % � � % � � � � ) � � �! � " � � � � � � � � � � � � � � � � � d B � � � � � � � � � 0 � � 0 � � � � � � � � @ � � � � � 5 � � � 1 � � � 0 � � � � # � $ � � � � A ' B � � �� � � � G � \ � � � � 0 � � � � % � � � � � � J K K � � � � % � � � # � � � & � � � � � � G � \ � � � % � � ' � 0 � � 2 � � 3 � � 0 � ! � " � � � � � � � � / � � % � � % � � � ) � � � � � % � � � # � $ � � � � A ' B � � & � � 4 � � � � � � � 0 � � � � % � � E ! � � � � " � � ! @ � � � � � � � � � � � � � � # J K K � � � � � � � � � � $��+ % � & � � : � & � � � �������������� � � � � � � � 1 � � 0 � @ A B � � � � � � @ Y � � . � � � � � 0 � � � � � � � � # �

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57

Note:

(i) None of the directors on the Board is a member in morethan 10 committees or acts as Chairman of more thanfive Audit Committee/ Shareholders’ GrievanceCommittees across all companies in which he is adirector.

(ii) None of the Directors are relative of each other

2.5 The profile of the directors who were appointed/ electedon the Board of the Bank and assumed office during thefinancial year 2010-11 is furnished hereunder:

2.5.1 Shri S. Ramaswami , R.B. I. Nominee Director

Shri S. Ramaswamy joined Reserve Bank of India in 1982 atMumbai. He worked in various capacities at Regional Officeand Central Office at Mumbai. He also worked at RegionalOffices of RBI at Chennai, Bhopal, Nagpur and Trivendrum. Atpresent he is working as Chief General Manager (CGM),Expenditure & Budgetary Control, at Central Office, Mumbai.Prior to this he was working as Regional Director (RD) of Kerala& Lakshadeep at Trivendrum.

Shri Ramaswamy is associated with Allahabad Bank asDirector since 30.07.2010. He is a commerce graduate withMBA and completed his M.A. in International DevelopmentPolicy from Duke University, USA. His hobbies include Tennis& Philosophy. He has specialized in Human ResourceDevelopment and Development Banking.

2.5.2 Shri R.M. Chaturvedi, Government NomineeChartered Accountant Director

Shri Chaturvedi is a commerce graduate with Honors andpracticing Chartered Accountant. He has 26 years of vastexperience in the ambit of Investment Banking, MerchantBanking, Project Debt, Syndication, CDR, Private EquityFunding, preparing Project TEV report and Corporate Advisoryto lending Corporate.

Shri Chaturvedi is presently providing all advices within theambit of Investment Banking & Corporate Tax Law from M/sR. M. Chaturvedi & Co., Chartered Accountants.

Shri Chaturvedi has joined the Bank as Part Time Non-OfficialDirector under Chartered Accountant category w.e.f.14.07.2010 for a period of three years.

2.5.3 Shri Gour Das, Workmen Employee Director

Shri Gour Das is a Commerce graduate. He joined AllahabadBank in the year 1973 and presently working as SpecialAssistant at Head Office, Stationery Department.

Shri Gour Das is a good orator and staunch Trade UnionLeader of Bank Employees Community under the banner ofAIBEA. Presently, he is holding the posts of General Secretaryof All India Allahabad Bank Employees’ CoordinationCommittee (AIABECC), Joint Secretary of All India BankEmployees’ Association (AIBEA), Secretary of BengalProvincial Bank Employees Association (BPBEA) and GeneralSecretary of Allahabad Bank Workers’ Union (ABWU) (W.B.).

Shri Das had visited Srilanka and Bangladesh as a memberof Indian delegation on behalf of AIBEA and for attendingSeminar on Indian Banking.

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58

Shri Das has joined the Board as Workmen Employee Directorw.e.f. 16.08.2010 for a period of three years.

2.5.4 Shri Sudip Chaudhuri, Shareholders’ Director

Shri Sudip Chaudhuri completed his M.A. in Economics fromCalcutta University in 1976 with highest rank (first class first)and Ph.D. in Economics from Jawaharlal Nehru University,New Delhi in 1985. Shri Chaudhuri has been serving IndianInstitute of Management, Calcutta as Professor (EconomicsGroup) since 1990.

He has many publications in National & International journals.The latest one is on “R & D for development of new drugs forneglected diseases” which is forthcoming in ‘InternationalJournal of Technology and Globalization’.

Shri Chaudhuri served as a consultant for Reserve Bank ofIndia, Industrial Development Bank of India, Government ofIndia, Ministry of Commerce & Industry, United NationsDevelopment Programme (UNDP), New York, World HealthOrganization (WHO), Geneva. He attended many internationalconferences as an invited speaker, prominent of which are (i)“India Brazil South Africa Academic Forum: A Policy Dialogue”at Brazil; (ii) “ICTSD/UNCTAD Roundtable” at Geneva; (iii)“BRICS Workshop”, the global network for the Economics oflearning, Innovation & competence building system, atDenmark; and “Conference on new approaches to intellectualproperty”, at Columbia University, New York.

Shri Chaudhuri joined the Board as shareholders’ Director witheffect from 03-06-2010 and will hold office upto 29-06-2011.

3. Details of the Board/Committee meeting held duringfinancial year 2010-11

3.1 Details of the meetings attended by Present and PastDirectors.

1 ;� �$��<"� <��1��Shri J.P. Dua 15 22 - 4 5 - 8 7 4 - - 18 - 1

2 ;� ��� <���,-�,-Shri D. Sarkar 15 22 9 4 2 1 8 - 4 - - 18 - 1

3 ;� �0��<��,-<������Shri M.R. Nayak 13 20 8 4 - 1 7 - 4 - - 17 - 1

4 ;� �������������������,-Shri Mohammad Tahir* 6 8 4 1 2 - - - 1 1 1 - - -

5 ;� ���� ���6c�����)��*�Smt Sukriti Likhi 9 - 2 - 2 - 3 1 - - - -

6 ���W<��� )�� ?��?��������!���,- Dr. Shakeel-Uz- Zaman Ansari 15 6 - 3 - 1 - - 1 - - - - -

7 ;� �"� <�%� <�C�6����,�-d� Shri P.V.Gudireddy 15 3 - 1 - - - 5 - 1 1 - - -

8 ;� ���� �$����C����,-���,-Smt. Joginder Kaur * 9 8 - 1 - 1 - - 1 - 1 - - -

9 ;� �0��<�,-����%���� Shri S. Ramaswamy 7 11 4 1 3 - - - 1 - - - - -

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of Director BOARD MCB ACB RMC DPC SIGC ITSC FMC CSC Remu. Nom STC FPC SACCom. Com

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59

*� � � p q � � � � � � � � 1 � � / * Past directors

3.2 During the period under review 15 Board Meetings wereheld as detailed below as against requirement of minimum6 meetings under clause 12 of Nationalized Bank(Management and Miscellaneous Provisions) Scheme,1970.

��6;<<�������� ��%� ����������'������������'��������5!�� >��?�%� �������������'��������5!��Date of meeting No. of Directors on Board No. of Directors attended

1 16-04-2010 11 10

2 30-04-2010 11 09

3 18-05-2010 11 10

4 10-06-2010 12 09

5 26-06-2010 12 10

6 22&23-07-2010 13 13

7 28-08-2010 14 13

8 24-09-2010 14 13

9 21-10-2010 14 13

10 15-11-2010 14 13

11 11-12-2010 14 11

12 14-01-2011 13 13

13 28-01-2011 13 10

14 18-02-2011 12 10

15 28-03-2011 12 10

4. Committees of the Board

4.1.1 Management Committee of the Board

In pursuance of clause 13 of Nationalized Bank (Management& Miscellaneous Provisions) Scheme, 1970 read with thedirectives of the Ministry of Finance, Government of India, aManagement Committee of the Board has been constituted.

4.1.2 Composition of the Management Committee

The members of the Management Committee of the Board ason 31-03-2011 were:

10 ] � � ! � � � ^ 6 0 � ^ 7 � � � � � � > � �Shri R.M.Chaturvedi 9 15 6 1 - - - - - - - - - -

11 ] � � � � � � � < � � � � � 0 � � � � � � � � � � �Shri Deveshwer Kumar Kapila 15 11 9 3 - - 7 7 - 1 - - 2 -

12 A B � m ^ � � � � � � � � � � � � 8 � � � � � � � # � ) � � � � � �

Dr. Vasant Baburao Kaujalgi 10 6 - - - 1 6 - - - - - 1 -

13 ] � � � � � � � � � 7 � � # " � � � �

Shri Sudip Chaudhuri 9 8 - 2 - - - - 2 - - 3 - -

14 ] � � � � ^ � � ^ A � � � � � � �*

Shri K. K. Dogra* 11 10 - - - - 1 5 3 - - 7 2 -

15 ] � � � � � # � � � � � �

Shri Gour Das 9 7 - - - - 5 - 1 - - 11 - -

� � � � � 1 � � � � � � A B ' � 6 0 � 6 ! � � � A B � 6 � � ! � � ' 6 F � � � � � � � � � � � " � � � � 0 � � ^ 6 � � 6 F 6 � �

� � � � � 0 � 6 0 � 6 0 � 6 0 � � � � ! � � ' ) � � � . � 6 � � 6 0 � 6 � � � � � 0 � � � � � � � 0 � � � � � . � � � � 6

6 0 � 6 0 � � � � � � � � � � � � � � � � � � � � � � � � � � � �S.N. Name

of Director BOARD MCB ACB RMC DPC SIGC ITSC FMC CSC Remu. Nom STC FPC SACCom. Com

+�������������������� �!���+�����������������@����7���������� �� � � ? � 0 � @ 3 � � � � % � � G � � � � � � � � � � � � � � � � � � 1 � � � � � � > 1 � � � � � � � & � � � � J K K � � � � � , � - . � % � � 5 � �� � � � P / � � � @ " � � � 6 � � @ / � � � ; � ' / � � � � " � � � � Q % � � � ) � � � � M N R S � � = � @ A B ( M i � � ! � � � � � � � �� � � � A ' B � � / � � � @ " � � � � � � 0 � � � � � � � � J K K � � � � % � � � � % � � $

+�����@����7���������� ���������A���% � & � � : � & � � � � i M ^ S i ^ g S M M � � � � � � � A ' B � � / � � � @ " � � � � � � 0 � � � � 0 � � � � 0 � � � � U � � � � % �& � � V (

*�� � � � , � - . � % � � 5 � � � � � � P / � � � @ " � � � 6 � � @ / � � � ; � ' / � � � � " � � � � Q % � � � ) � � � � M N R S � � = � @ A BMg�� !@����'�����"��'������%�8����0�o��#JKK� � �� ������2���0��2��"����!���"��� ��#��������0����U ����&�%�� � ��Mr����A'B��#JKK� !�%����)���� ����'&�f$

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60

��6;<<�������� ��%� ������������@����7���������� �����������������'��������� >��?�%� �������������'���������

Date of Meeting No. of Directors on the Management No. of Directors attendedCommittee of Board

09-04-2010 7 7

16-04-2010 7 730-04-2010 7 718-05-2010 7 709-06-2010 7 626-06-2010 7 717-07-2010 7 722-07-2010 8 810-08-2010 7 728-08-2010 8 813-09-2010 8 724-09-2011 8 811-10-2010 8 720-10-2010 8 715-11-2010 8 701-12-2010 8 720-12-2010 8 714-01-2011 8 827-01-2011 8 717-02-2011 8 714-03-2011 8 728-03-2011 8 7

1. Shri J.P. Dua Chairman & Managing

Director

2. Shri D. Sarkar Executive Director

3. Shri M.R. Nayak Executive Director

4. Shri S. Ramaswamy RBI Nominee Director

5. Shri Rajesh M. Chaturvedi Chartered Accountant

Director

6. Shri P.V. Gudireddy Part Time Non OfficialDirector

7. Shri Gour Das Workmen Employee Director

8. Dr. Vasant Baburao

Kaujalgi Shareholders’ Director

The Committee is chaired by Shri J.P. Dua, Chairman &Managing Director.

4.1.3 Function of the Management Committee

The function of the Management Committee is to considervarious business matters of material significance like sanctionof high value proposals, compromise/write off, sanction ofcapital & revenue expenditure and review the exercise ofdelegated authority by the Chairman & Managing Director andthe Executive Director(s). The Committee also reviews theperformance of key areas like investment portfolio, non-performing assets and other important management decisionsreferred to the Committee by the Board.

4.1.4 Details of the meeting of the Committee

The Committee met 22 times during the period 01.04.2010 to31.03.2011 as detailed below

M ^ ] � � ) � � ^ � � � ^ � 8 ! � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � �

g ^ ] � � A B � ^ � � � � � � � � � � % � ' � � � � � � � � � � � 1 � �

i ^ ] � � 6 0 � ^ ! � � � � � � % � � � � % � ' � � � � � � � � � � � 1 � � O ^ ] � � 6 � � ^ � � � 0 � � � � � 0 � � G � � � � � � � � � T � � � � � � � � 0 � � � � � � � � 1 � � r ^ ] � � � � � ) � � 1 � 6 0 � ^ 7 � � � � � � > � � � � � � � � � � � = � � � � � � � � � � � 1 � �

o ^ ] � � � � � ^ � � � ^ � � � � A B B � � � _ B � ! @ 1 � � � � � � � � � # � � � � � � � � � � � � � � � � 1 � �

R ^ ] � � � � � # � � � � � � � � 0 � � � � � � � � � � � 1 � �

h ^ A B � m ^ � � � � � � � � � � � � 8 � � � � � � � # ) � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

� � � 0 � � � � � � ! " % � 2 � � � � ] � � ) � � ^ � � � ^ � 8 ! � � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � � T � � � � � �� � � ' � � $+���*�@����7���������� ���������!��

/ � � � @ " � � � � � � 0 � � � � � � � � % � ' 4 7 7 � 0 � 8 � % �� � / � � � � � � � � � � � � @ � � � � � 5 � � � � � � 0 � x � � # � � � b

� � � a . � � . = � � � � � A B � � � � � � � � � 8 @ ) � � � � � � � � & � � � � � ) � � � � � � � � @ � � � � � 5 � � � ) � # � � � 0 � � � � � � � � 8 ; � '

� % � � � � � � � � % � � 0 � � 0 � � � � � � � � � � � 7 � � � � � � � � � � � � & � � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � � 6 � � @

� � % � ' � � � � � � � � � � � 1 � � � � � / � � % � � % � � � � ) � � � ! � " � � � � � � � 4 � � % � � � � � � � � � 0 � � 2 � �

� � � � � � � # � $ � � � 0 � � � � � � � � � � 1 � � � @ � � � G � � � � � ! � � � � � % � � � ) % � ! � : � � � % � � ) � # � � � 0 � � � � � � � � 8 ; � '

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/ � � � @ " � � � � � � ; � ' % � � � � � � 0 � � 2 � � G � � � � � � � � � # $+���+������� ��������6;<<�������� � ���=�

S M ^ S O ^ g S M S � � � i M ^ S i ^ g S M M � � � � # � � � � � � � � 0 � � � � � � = � � � � � � � & � % � � � � �/ � � � @ " � � � � � � 0 � � � � � � � g g � � # J K K � ! � % � � � � ) � � � � f V

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61

��6;<<�������� ��%� ���������������5�������B������������������'��������� >��?�%� �������������'���������Date of Meeting No. of Directors on the No. of Directors attended

Audit Committee of Board09-04-2010 5 430-04-2010 5 416-07-2010 5 4

22&23-07-2010 6 613-09-2010 6 521-10-2010 6 616-11-2010 6 428-01-2011 6 404-03-2011 6 5

4.2 Audit Committee of the Board (ACB)

4.2.1 In pursuance to the directives of Reserve Bank of Indiaand having regard to the fundamentals of CorporateGovernance, the Bank originally constituted an AuditCommittee on 31.05.1994 and reconstituted the samefrom time to time.

4.2.2 Composition of the Audit Committee:

The member of the Audit Committee of the Board, as on31-03-2011 were;

1. Shri D. Sarkar Executive Director2. Shri M.R. Nayak Executive Director3. Smt. Sukriti Likhi Government Nominee

Director4. Shri S.Ramaswamy RBI Nominee Director

5. Shri Rajesh M. Chaturvedi Chartered AccountantDirector

6. Shri DeveshwarKumar Kapila Shareholders’ Director

The committee is chaired by Deveshwar Kumar KapilaShareholders’ Director.

4.2.3 Function of Audit Committee:

The main function of Audit Committee is to assess and reviewthe financial reporting system of the Bank to ensure that thefinancial statements are correct, sufficient and credible. Itreviews with the management the annual financial statementsbefore their submission to the Board.

The Audit Committee provides direction and oversees theoperations of total audit function of the Bank including theorganization, operation and quality control of internal audit andinspection within the Bank and follow up on the Statutory/External audit of the Bank and RBI inspections.

The Committee also reviews the adequacy of internal controlsystem, structure of internal audit department, its staffingpattern and discussion with the internal auditors/Inspectorson any significant finding and follow-up action thereon. It furtherreviews the financial and risk management policies of the Bank.

Regarding Statutory Audit, the Audit Committee interacts withthe Central Statutory Auditors before finalization of Annual/Quarterly Financial Accounts and Reports. It also follows upon various issues raised in the Long Form Audit Report (LFAR).

4.2.4 Details of Meeting

During the period 01.04.2010 to 31.03.2011, 9 meetings ofthe Audit committee of the Board were held as detailed below.

+������������������5�������B��������� ��C.������D��+����G � � � � � � � % � � � � ` � � � ' � � � � � � � � 1 � � � � � � > 1 � � � � & � � � � � � � � � �hu� . � � � � � � � � � � � � � � � � � � � @ � � � � � ! � � � � � � � � � � � � � � � i M ^ S r ^ M N N O � � � 6 � � � � = � � � � � � � 2 � � � � � 0 � � � �� � � � J K � � � � % � � � � & � � 4 � � � � � 0 � % � ( � � 0 � % � � � � � � � � � � � � ' � J K K � � � � % � � $

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O ^ ] � � 6 � � ^ � � � 0 � � � � � 0 � � G � � � � � � � � � T � � � � � � � � 0 � � � � � � � � 1 � �

r ^ ] � � � � � ) � � 1 � 6 0 � ^ 7 � � � � � � > � � � � � � � � � � � = � � � � � � � � � � � 1 � �

o ^ ] � � � � � � � < � � � � � 0 � � � � � � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

� � � 0 � � � � � � ! " % � 2 � � � � ] � � � � � � � < � � � � � 0 � � � � � � � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � � �T � � � � � � � � � ' $

+���*����5�������B��������� ���������!�������=�������2�����0����� �0��=%�� �%�'���� � ����?��%��������y�.��/�;������ �0�8�%��@� ��6��@4��� ���0��2��� ������#������ �������;�� � ����%�������%��'������6��@���<������%����������:17����������� $����A'B�� ��0�2�/��������� 6)������������������0����/���@"����� ���&����9,�� ���?��%������;��0�� � ���0��2��� ������#�$

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���0����!�@������ ���%�@3�;�/�;������ ���%��'�������!�@������ ���=�������2�����G����� ���@��7���������� ��.�LF ����#�.��'� ���0��2��G��� ������#���&���� ���0��������8;�'� � � , � , � ' � � � � ! @ � � � � � � � � � � = � � � � � � � 2 � � � b � � � � � � 2 � � � � � � � � & � � � � 7 � � � ( � � � � 0 � 1 � ' ! � # � � �4 � � � � � � ! � � � � � � � w � � � ' � � � � � ' � � � � � � � # � $ � � � � � ! � � � � � � U % � � � � � � � � � � � � ? � � % �6 � � @ ) � � � � = � 0 � / � � � @ " � � � � � � � � � % � � � � G � � � � 0 � � 2 � � � � � � � � � # � $

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+���+���6;<<<�������� � ���=��9S M ^ S O ^ g S M S � � � i M ^ S i ^ g S M M � � � � # � � � � � � � � 0 � � � � � � = � � � � � � � & � % � � � � �� � � � A ' B � � � � � = � � � � � � � 2 � � � � � 0 � � � � � � N � � # J K K � ! � % � � � � ) � � � � � � � � | V

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62

4. 3 Risk Management Committee

4.3.1 Risk Management Committee of the Board:

In pursuance of the directives of the Reserve Bank of India, aRisk Management Committee of the Board was constitutedon March 4, 2003 and it was reconstituted time to time.

4.3.2 Composition of the Risk Management Committee ofthe Board:

The members of the Committee as on 31.03.2011 were

1. Shri J.P. Dua Chairman & ManagingDirector

2. Shri D. Sarkar Executive Director

3. Shri M. R. Nayak Executive Director

4. Shri Rajesh M. Chaturvedi Chartered AccountantDirector

5. Dr. Shakeel-Uz-Zaman Part Time Non Official

Ansari Director

6. Shri Deveshwar Kumar

Kapila Shareholders’ Director

7. Shri Sudip Chaudhuri Shareholders’ Director

The Committee is chaired by Shri J.P Dua, Chairman &Managing Director.

4.3.3 Function of Risk Management Committee of theBoard

The Risk Management Committee devise the policy andstrategy for integrated risk management containing variousrisk exposures of the Bank including Credit, Market &Operational risk.

4.3.4 Details of the Meeting

The Committee met 4 times during the period 01-04-2010 to31-03-2011 as detailed below.

Date of Meeting No. of Directors No. of Directorson the Risk Manage- attended

ment Committeeof Board.

18-05-2010 7 6

24-09-2010 7 7

01-12-2010 6 5

04-03-2011 7 7

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18-05-2010 7 6

24-09-2010 7 7

01-12-2010 6 5

04-03-2011 7 7

4.4. Directors’ Promotion Committee (DPC)

4.4.1 Directors promotion committee of the Board:

The Bank in pursuance to the directives of Govt. of India,Ministry of Finance (Banking Division) constituted DirectorsPromotion Committee and the same was reconstituted fromtime to time.

+�*�:����5����@����7���������� ���

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G � � � � � � � % � � � � ) � � � ' � � � � � � � � 1 � � � � � � > 1 � � � � ! � � � � � � � � S O 0 � � 7 � ' � g S S i � � � � � � � A ' B� � ) � � � � = � 0 � / � � � @ " � � � � � � 0 � � � � � � � � J K K K � � � � % � � � � % � � 6 � � @ � � 0 � % � ( � � 0 � % � � � � �� � � � � � � � � � � � ' J K K � � � � % � � � � % � � � # � $

+�*���������������:����5����@����7���������� ���������A�����

% � & � � : � & � � � � i M ^ S i ^ g S M M � � � � � � 0 � � � � 0 � � � � 0 � � � � U � � � � % � & � � V (

M ^ ] � � ) � � ^ � � � ^ � 8 ! � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � �

g ^ ] � � A B � ^ � � � � � � � � � � % � ' � � � � � � � � � � � 1 � �

i ^ ] � � 6 0 � ^ ! � � � � � � % � � � � % � ' � � � � � � � � � � � 1 � � O ^ ] � � � � � ) � � 1 � 6 0 � ^ 7 � � � � � � > � � � � � � � � � � � = � � � � � � � � � � � 1 � �

r ^ A B � m ^ 1 � � � � � 4 ` � ` � 0 � � � � ! @ � � � � � � ! @ 1 � � � � � � � � � # � � � � � � � � � � � � � � � � 1 � �

o ^ ] � � � � � � � < � � � � � 0 � � � � � � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

R ^ ] � � � � � � � � � 7 � � # " � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

� � � 0 � � � � � � ! " % � 2 � � � � ] � � ) � � ^ � � � ^ � 8 ! � � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � � T � � � � � �� � � ' $+�*�*�������������:����5����@����7���������� ���������!����

) � � � � = � 0 � / � � � @ " � � � � � � 0 � � � � } ~ ; � � � � � ) � � � � ! � # � � � � � � � 7 � � � � � � ) � � � � = � 0 � � � � � � � � � � � � � � � � � � G � \ � ) � � � � = � 0 � � � � � � � 1 � � � � � � � 6 6 � � � 5 � � ) � � � � = � 0 � / � � � @ " � � � � � � � � � � � � � � �� � & � � � � ; � � � � � � � � � � * + � � � � � � � � � � � � # � $

+�*�+���6;<�������� � ���=��9

S M ^ S O ^ g S M S � � � i M ^ S i ^ g S M M � � � � # � � � � � ) � � � � = � 0 � / � � � @ " � � � � � � 0 � � � � � � O� � # J K K � ! � % � � � � ) � � � � � � | ' � ) � � � � � � � � � � � � ; � � � � 0 � � � @ � � � � � � # (

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0 � � � � � � 1 � � � � � � � \ � � � � � � � 0 � � � � � � � � J K K � � � � % � � � # � ! � # � � � � � � � � 0 � % � ( � � 0 � % � � � � �

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63

4.4.2 Composition of the Directors PromotionCommittee:

The members of the Committee of Directors as on 31-03-2011were

1. Shri J.P. Dua Chairman & Managing Director

2. Smt Sukriti Likhi Govt. Nominee Director

3. Shri S.Ramaswamy RBI Nominee Director

The Committee is chaired by Shri J.P. Dua, Chairman &Managing Director

4.4.3 Function of the Directors’ Promotion Committee:

The Directors’ Promotion Committee has been constituted toreview disposal of vigilance and non-vigilance disciplinarycases and other cases of strategic importance in terms ofReserve Bank of India (RBI) and Government of India (GOI)guidelines on Corporate Governance and Risk ManagementSystem.

4.4.4 Details of the Meeting

The Committee held 5 meetings during the period 01.04.2010to 31.03.2011 as detailed below:

Date of Meeting No. of Directors No. of Directors on the Directors attended

PromotionCommittee

16-04-2010 3 3

26-06-2010 3 2

24-09-2010 3 2

01-12-2010 3 2

28&29-03-2011 3 3

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16-04-2010 3 3

26-06-2010 3 2

24-09-2010 3 2

01-12-2010 3 2

28&29-03-2011 3 3

4.5 Shareholders’/ Investors’ Grievances Committee

4.5.1 The Bank originally constituted the Shareholders’/Investors’ Grievances Committee on March 4, 2003 with apurpose of redressal of shareholders and investors grievances/ complaints. The committee was reconstituted time to time.

4.5.2 Composition of the Shareholders’/ Investors’Grievances Committee

The members of the Committee as on 31-03-2011 were asunder:

1. Shri D. Sarkar Executive Director

2. Shri M.R. Nayak Executive Director

3. Dr. Shakeel-Uz-Zaman Ansari Part Time NonOfficial Director

4. Dr. Vasant Baburao Kaujalgi Shareholders’Director

+�+��������������'�����������E�� �������� ���������A�����

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i ^ ] � � 6 � � ^ � � � 0 � � � � � 0 � � V ! � � � � � � ! � � ' T � � � � � � � � 0 � � � � � � � � 1 � �

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64

The Committee is chaired by Dr. V.B. Kaujalgi, Shareholders’Director. Shri A.B.Bhattacharjee, General Manager( Finance& Accounts) & CFO has been designated as ComplianceOfficer of the Bank.

4.5.3 Function of Shareholders’/Investors’ GrievancesCommittee:

The Committee ensures that all Share Certificates are issuedwithin a period of one month of the date of lodgment for transfer,sub-division, consolidation, renewal etc. The Committee furthermonitors the redressal of investors’ complaints in a time boundmanner. The Bank received 1636 number of complaints duringthe year under review and all the complaints have beenresolved to the satisfaction of investors.

4.5.4 Details of the Meeting

The Committee held one meeting during the period 01.04.2010to 31.03.2011 as detailed below:

Date of Meeting No. of Directors No. of Directors

on the Shareholders’ attended

/ Investors’ Grievance

Committee

24-09-2010 5 5

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24-09-2010 5 5

4.6 Information Technology Sub-Committee (IT Sub-Committee)

4.6.1 The Bank constituted the IT Sub-Committee on April24, 2003 and it was further reconstituted time to timeto monitor the implementation of various InformationTechnology projects of the Bank.

4.6.2 Composition of the IT Sub-Committee of the Board:

The members of the sub Committee as on 31-03-2011 wereas under:

1. Shri J.P. Dua Chairman & ManagingDirector

2. Shri D. Sarkar Executive Director

3. Shri M. R. Nayak Executive Director

4. Smt. Sukriti Likhi Government NomineeDirector

5. Shri Deveshwar Kr Kapila Shareholders’ Director

6. Dr. Vasant Baburao

Kaujalgi Shareholders’ Director

7. Shri Sudip Chaudhuri Shareholders’ Director

The Committee is chaired by Shri J.P. Dua, Chairman &Managing Director.

4.6.3 Function of the IT Sub-Committee:

This Committee was constituted to monitor the implementationof various IT projects of the Bank.

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65

Date of Meeting No. of Directors No. of Directors on the IT Sub attended

-Committee of Board

18-05-2010 6 521-06-2010 7 510-08-2010 7 613-09-2010 7 711-10-2010 7 515-11-2010 7 601-12-2010 7 518-02-2011 7 6

4.7. Fraud Monitoring Committee

4.7.1 Fraud Monitoring Committee of the Board:

The Bank has constituted Fraud Monitoring Committee on28.02.2004 and reconstituted the same from time to time witha purpose to monitor and follow up cases of frauds involvingamount of Rupees One crore and above.

4.7.2 Composition of the Fraud Monitoring Committee ofthe Board:

The members of the Committee as on 31-03-2011 were as under :

1. Shri J.P. Dua Chairman & ManagingDirector

2. Smt. Sukriti Likhi Government NomineeDirector

3. Shri P.V. Gudireddy Part Time Non OfficialDirector

4. Shri Deveshwar KumarKapila Shareholders’ Director.

The Committee is chaired by Shri J. P. Dua, Chairman &Managing Director.

4.7.3 Function of the Fraud Monitoring Committee

The Fraud Monitoring Committee has been constitutedexclusively for monitoring, reviewing and following up casesof frauds involving amount of Rs. One Crore and above,keeping in view the delay caused in various aspects of fraudlike detecting, reporting to regulatory and enforcementagencies and action against perpetrators of the fraud.

4.7.4 Details of the Meeting

The Fraud Monitoring Committee held 7 meetings during theperiod 01.04.2010 to 31.03.2011 as detailed below

Date of meeting No. of Directors on No. of Directorsthe Fraud Monitoring attendedCommittee of Board

16-04-2010 3 318-05-2010 3 322-07-2010 5 424-09-2010 5 416-11-2010 5 418-02-2011 4 328-03-2011 4 4

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16-04-2010 3 318-05-2010 3 322-07-2010 5 424-09-2010 5 416-11-2010 5 418-02-2011 4 328-03-2011 4 4

4.6.4 Details of the Meeting

This Committee held 8 meetings during the period01.04.2010 to 31.03.2011 as detailed below:

18-05-2010 6 521-06-2010 7 510-08-2010 7 613-09-2010 7 711-10-2010 7 515-11-2010 7 601-12-2010 7 518-02-2011 7 6

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66

Date of meeting No. of Directors on No. of DirectorsCustomer Service attended

Committee

10-06-2010 6 6

10-08-2010 7 7

01-12-2010 6 4

17-02-2011 5 5

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10-06-2010 6 610-08-2010 7 7

01-12-2010 6 4

17-02-2011 5 5

4.9 Remuneration Committee

In terms of Govt. of India, Ministry of Finance, Department ofEconomic Affairs (Banking Division) notification F.No. 20/1/2005-BOI dated 9th March, 2007, whole time directors of thePublic Sector Banks will be entitled for Performance linkedincentives, subject to achievement of Broad quantitativeparameters fixed for performance evaluation matrix, based onthe Statement Of Intent on goals and qualitative parametersand bench marks based on various compliance reports duringthe last year. Sub Committee of the Board called“Remuneration Committee” consisting of Govt. NomineeDirector, RBI Nominee Director and two other Directors woulddo the evaluation of performance.

4.9.1 The Board of Directors in its meeting dated 23-03-2007constituted the Remuneration Committee to evaluate theperformance of the whole time directors for the purpose ofperformance linked incentives. The Committee has since beenreconstituted from time to time.

4.8 Customer Service Committee

4.8.1 In compliance with RBI letter dated August 14, 2004, theBoard of Directors at its meeting held on September 9, 2004constituted Customer Service Committee and reconstitutedthe same from time to time. The committee has beenconstituted with a view to bring out improvements in the qualityof customer service in the Bank on a continuous basis.

4.8.2 Composition of Customer Service Committee:

The Customer Service Committee comprises the followingDirectors as on 31-03-2011.

1. Shri J. P. Dua Chairman & ManagingDirector

2. Shri D. Sarkar Executive Director

3. Shri M.R. Nayak Executive Director

4. Shri Gour Das Workmen EmployeeDirector

5. Shri Sudip Chaudhuri Shareholders’ Director

The Committee is chaired by Shri J.P. Dua, Chairman &Managing Director.

4.8.3 Function of the Customer Service Committee

To innovate measures for enhancing the quality of customerservice and improve the level of customer satisfaction to allcategories of clientele at all times.

4.8.4 Details of the Meeting

This Committee held 4 meetings during the period 01.04.2010to 31.03.2011 as detailed below

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67

Date of meeting No. of Directors on No. of Directors the Remuneration attended

Committee of Board

16-07-2010 4 3

Date of meeting No. of Directors on No. of Directors the Nomination attended

Committee of Board

28-05-2010 4 3

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28-05-2010 4 3

4.9.2 Composition of Remuneration Committee

The Composition of the Committee as on 31-03-2011 was asunder:

1. Smt. Sukriti Likhi Govt. Nominee Director2. Shri S.Ramaswamy RBI Nominee Director3. Shri P.V. Gudireddy Part Time Non Official

Director4. Shri Deveshwar

Kumar Kapila Shareholders’ Director.

The Committee is chaired by Smt. Sukriti Likhi, GovernmentNominee Director.

4.9.3 Function of Remuneration Committee

To evaluate the performance of the whole time directors forthe purpose of performance linked incentives.

4.9.4 Details of the Meeting

The Committee held one meeting during the period 01.04.2010to 31.03.2011

4.10 Nomination Committee

4.10.1 In terms of Reserve Bank of India letter DBOD No. BC.No. 47/29.39.001/2007-08 dated Nov. 1, 2007, the NominationCommittee of the Board was constituted on 21-04-2008 andreconstituted from time to time.

4.10.2 Composition of Nomination Committee

The Composition of the Committee as on 31-03-2011 were asunder :

1. Smt. Sukriti Likhi Govt. Nominee Director2. Shri Rajesh M. Chaturvedi Chartered Accountant

Director3. Dr. Shakeel Uz-Zaman Part Time Non Official

Ansari Director4. Shri P.V. Gudireddy Part Time Non Official

DirectorThe Committee is chaired by Smt. Sukriti Likhi, GovernmentNominee Director

4.10.3 Function of Nomination Committee

The Nomination Committee have to undertake a process ofdue diligence to determine the “Fit & Proper” status of existingelected directors/the person to be elected as a director underSec. 9 (3) (i) of the Act.

4.10.4 Details of the Meeting

The Committee held one meeting during the period 01.04.2010to 31.03.2011

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g ^ ] � � � � � ) � � 1 � 6 0 � ^ 7 � � � � � � > � � � � � � � � � � � = � � � � � � � � � � � 1 � �

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68

4.11 Share Transfer Committee

4.11.1 The Bank has constituted Share Transfer Committeefor the purpose including but not limited to transfer/transmissionof equity shares, issue of duplicate shares. The Committeehas since been reconstituted from time to time.

4.11.2 Composition of Share Transfer Committee

The Composition of the Committee as on 31-03-2011 were asunder :

1. Shri J. P. Dua Chairman & ManagingDirector

2. Shri D. Sarkar Executive Director

3. Shri M.R. Nayak Executive Director

4. Shri Gour Das Workmen Employee Director

5. Shri Sudip Chaudhuri Shareholders’ Director

The Committee is chaired by Shri J. P. Dua, Chairman &Managing Director

4.11.3 Function of Share Transfer Committee

The Committee is empowered and authorized to approvetransfer, transmission, rejection, subdivision, consolidation ofshares of the Bank and issue of duplicate share certificatesagainst lost, misplaced, stolen or destroyed share certificatesafter observing requisite formalities. The Committee is alsoempowered to do all such acts, things or deeds as may benecessary or incidental to the exercise of transfer, transmission,issue of duplicate share certificates etc.

4.11.4 Details of the Meeting

The details of the meetings held by the committee during theperiod 01.04.2010 to 31.03.2011 were as under:-

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� � � 0 � � � � � � � � � � � � � 1 � � % � � � � � � ! @ � � � � ; � � / � � , � ; � � ! � � � � � 5 � � � � � � � � � A B � � � ) � � � �� � 0 � � � � � � � ! � � � 0 � � � � � � ! � # � � � � � 0 � � � � 6 ! & � � � � � � , � . � � � 6 1 � � % � � � / � 0 � � ; � � � 3 � � � � � � � � � � ! � � � � 2 � � � ! � # � � 7 � � � � � � � � � 6 @ � � 8 � � � � � � � � � � � � � 1 7 � � � � A � B : � � � � � � . 1 � � % � � �/ � 0 � � ; � � � 3 � ) � � � � � � � � � � � � � ! � " � � � � � � # � ! � # � � � � � � � � � � � � � � 6 / � � � " � � 5 � � � # � $� � � 0 � � � � � � � � � � � � � � � � � % � ' � � � � � � � � G � � ! � " � � � � � � # � ) � � � 1 � � % � � � � � � ! @ � � � � ; � �/ � � , � ; � � A � B : � � � � � � . 1 � � % � � � / � 0 � � ; � � � 3 � ) � � � � � � � � � � � ! � � � � � � � � � ! � � � 1 % � � ! � # � �/ � � � � @ � � � � � � � � � � � � � � $

+����+��6;<<�������� � ���=��9S M ^ S O ^ g S M S � � � i M ^ S i ^ g S M M � � � � # � � � � � � � � 0 � � � � T � � � � ! � % � � � � ) � � �� � # J K K � � � � � � � � � � � ; � � � � 0 � � � � � � � � � � � � # � V

��6;<�������� ��%� ���������������!����&� ���=�������� �����������������'��������5!�� >��?�%� �������������'���������

Date of meeting No. of Directors on the Share Transfer No. of Directors attendedCommittee of Board

07-04-2010 4 318-05-2010 4 426-06-2010 4 410-07-2010 4 329-07-2010 4 310-08-2010 4 428-08-2010 5 515-09-2010 5 430-09-2010 5 421-10-2010 5 515-11-2010 5 401-12-2010 5 528-12-2010 4 414-01-2011 5 527-01-2011 5 514-02-2011 5 304-03-2011 5 523-03-2011 5 4

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69

4.12 Flat Purchase Committee

4.12.1 The Board of the Bank in its meeting dated 22-01-2010 constituted Flat Purchase Committee for looking afterthe matters related to purchase of residential flats for the Bankat Delhi(NCR), Mumbai, Bangalore , Chennai & Guwahati,comprising the following Directors

1. Shri D. Sarkar Executive Director2. Shri Deveshwar

Kumar Kapila Shareholders’ Director3. Dr. Vasant Baburao

Kaujalgi Shareholders’ Director4 Shri K.K. Dogra Officers’ Nominee Director

4.12.2 Details of the Meeting

The details of the meeting of the Committee held during theperiod 01.04.2010 to 31.03.2011 are as under:

Date of Meeting No. of Directors on No. of Directorsthe Flat Purchase attended

Committeeof Board

09-04-2010 2 216-04-2010 3 3

09-04-2010 2 216-04-2010 3 3

The Board of Directors of the Bank in its meeting dated26-06-2010 decided to discontinue the above committee andin its place, as suggested by I.B.A. two committees namelyCentral Real Estate Committee (CREC) and Zonal Real EstateCommittee (ZERC) were constituted to look after the purchaseof residential/commercial properties of the Bank.

4.13 Share Allotment Committee:

4.13.1 The Board of Directors of the bank in its meeting dated18-02-2011 constituted Share Allotment Committee for issueand allotment of Equity Shares to Govt. of India (President ofIndia) on preferential allotment basis.

4.13.2 Composition of Share Allotment Committee:

The Composition of the Committee as on 31-03-2011 is as under:

1. Shri J. P. Dua Chairman & Managing Director

2. Shri D. Sarkar Executive Director

3. Shri M.R. Nayak Executive Director

4. Shri Deveshwar

Kumar Kapila Shareholders’ Director

4.13.3 Function of Share Allotment Committee:

The committee was authorized to do all such acts, deeds andthings as may be required in connection with the issue andallotment of Equity Shares to Govt. of India on preferentialallotment basis and get the same listed with the National StockExchange and Bombay Stock Exchange.

4.13.4 Details of the Meeting

The details of the meeting of the Committee held during theperiod 01.04.2010 to 31.03.2011 were:

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! � � � � � � � % � e � � # � . � � I % � � � � � � @ � � @ � " � � � 0 � � 0 � � � � � � � � = � � � � = � � � � � � 6 e � � # � .

I % � � � � 0 � � � � � � � � J K K � � � � % � � � ) � � � 0 � � � � 0 � � � @ � � � � � � � � � 1 � � � � � (

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g ^ ] � � � � � � � < � � � � � 0 � � � � � � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

i ^ A B � m ^ � � � � @ � � � � � � � 8 � � � � � � � # ) � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

O ^ ] � � � � ^ � � ^ A B � � � � � � � ! � " � � � � � � � � � � 0 � � � � � � � � 1 � �

+�������6;<<�������� � ���=�� � � � � @ � S M ^ S O ^ g S M S � � � i M ^ S i ^ g S M M � � ! � � � " � � � � � # � � � � � � � � 0 � � � � � �

� � # J K K � � � � � � � � � � � ; � � � � 0 � � � � � � � # � (

� � � � � � � � � � � 1 � � 0 � @ A B � � � � � � � � � � @ � g o ^ S o ^ g S M S � � � � � @ � � \ � ! � � � � � � � # J K K � 0 � 4 � � % � � ' U � � � 0 � � � � � � � � � 0 � � � � � � � � � � � � � � � � ; � ' % � � � � % � � ! � # � � 4 � � � � � & � � � �� � � � ! � � ' ^ � � � ^ 6 ^ T � � � � � � 6 � � 6 � � � x � � � � � � ! � � � � � � � � � � � � � � ! � � � � � � � % � b� � � � ; � : ) % � � � � 0 � � � ? � % � � � � I % � � � � � � � � � � � � � � � � � � - . � � � � � % � � � � � � � . � . � � � 0 � � � �P � � � ! � � � � ' � � � Q 6 � � @ ) � � � � � � � � � � % � � � � � � � . � . � � � 0 � � � � P ) � � A B � ' ! � � � � � � Q � � � 0 � � � � �� � � 0 � � � � % � � � � � � J K K � � � � % � � � � % � � $

+��* ���!����&������������� �+��*�� � � � � � � � � � � � 1 � � 0 � @ A B � � � � � � � � � � @ � M h ^ S g ^ g S M M � � � � � 0 � � \ �

! � � � � � � � # J K K � 0 � G � � � � � � � � � � � � � � P G � � � � � � � � � � � , � - . � � � � � Q � � � ! � " � 0 � � � % � ! � � � @ � . � �

� � ! � " � � � � � � � � � ' : n � � � . � 1 � � % � � � � � � � � ' � 0 � � � 6 � � @ ! � � � @ � . � � � � � � � � � � � � � � 1 � � % � � � ! � � � @ � . � �

� � � 0 � � � � � � � � J K K � � � � % � � $

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M ^ ] � � ) � � ^ � � � ^ � 8 ! � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � �

g ^ ] � � A B � ^ � � � � � � � � � � % � ' � � � � � � � � � � � 1 � �

i ^ ] � � 6 0 � ^ ! � � � � � � % � � � � % � ' � � � � � � � � � � � 1 � �

O ^ ] � � � � � � � < � � � � � 0 � � � � � � � � � � � 1 � � % � � � " � � � � � � � � � � 1 � �

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� � � 0 � � � � � � � 6 � � � � � � % � � H 6 � � @ � � � , � % � � � � � � � 6 / � � � " � � 5 � � � � % � � � � % � � ) � � �

! � " � 0 � � � % � ! � � � @ � . � � � � ! � " � � � � � � � � G � � � � � � � � � � � � � � � � � � ' : n � � � . � 1 � � % � � � � � �

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� � � � � @ � S M ^ S O ^ g S M S � � � i M ^ S i ^ g S M M � � ! � � � " � � � � � # � � � � � � � � 0 � � � � � �

� � # J K K � � � � � � � � � � � ; � � � � 0 � � � � � � � # � (

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70

Date of Meeting No. of Directors on No. of Directorsthe Share Allotment attendedCommittee of Board

31-03-2011 4 331-03-2011 4 3

5. Remuneration to the Directors:

The remuneration including traveling and halting expenses tothe Non- Executive Directors is paid as decided by theGovernment of India /RBI guidelines.

5.1 The details of salary including incentives paid to the whole-time Directors of the Bank past and present, i.e Chairman &Managing Director and Executive Director during the year2010-11 are as under:

R��� ����� ��H�� ���MN���(��0�S�� �����!�� @��� ���MN�� �#������Sl Name Basic Dearness Arrear Incentives TotalNo. Allowance

0 � � # ) � 8 � � � � � � � 1 � � / Existing Directors

M ^ ] � � ) � � ^ � � � ^ � 8 ! � P ! ^ / � ^ � � � ^ QShri J.P. Dua ( CMD) 926385.00 364853.75 47489.50 698493.00 2037221.25

2. ] � � A B � ^ � � � � � � � � P � � ^ � � � Q

Shri D. Sarkar (ED) 797550.00 314112.50 40885.00 204795.00 1357342.50

3. ] � � 6 0 � ^ ! � � � ^ � � � % � � � P � � ^ � � � ^ Q

Shri M. R. Nayak (ED) 797550.00 314112.50 37362.42 122877.00 1271901.92

G � 8 � � � � 8 � � ' ' � � � � � 1 � � / Ex-Directors

4. ] � � � � ^ ! � � � ^ � � 0 � � � P G � 8 ^ � � 8 � � ' ! ^ / � ^ � � � ^ Q

Shri K. R. Kamath (EX- CMD) 0.00 0.00 0.00 460274.00 460274.00

5. ] � � � � ^ � � ^ ! C � � � � � � �

P G � 8 ^ � � 8 ^ � � % � ' � � � � � � � � � � � 1 � � QShri K. K. Agarwal ( EX-ED) 0.00 0.00 0.00 217260.00 217260.00

�#����F TOTAL 2521485.00 993078.75 125736.92 1703699.00 5343999.67

At present the Bank does not have stock option plan for itsdirectors.

5.2 The Non-Executive Directors are being paid sitting fee ofRs. 5000/- for attending each Board Meetings and Rs.2500/-for Committee Meetings. Sitting fees are, however, not paid tothe Chairman and Managing Director, Executive Directors ofthe Bank and Government Nominee Directors.

6. General Body Meetings:

6.1 Particulars of past three Annual General Meetings of theBank.

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� � # � � ( � � % � ' � � � � � � � � � � � 1 � � � � � � % � � 3 � � 6 � � @ � � � � � � 0 � G � ? � � � � � � � � � � � ) � � � � � � � � � � �� � � � � � � : � " � % � � E G � � � � � � � % � � � � ) � � � ' � � � � � � � � � � � 0 � 1 � ' � � � G � � � � � � � � � � � � � � T � � � � � � 6� � 6 � � � ; � ' % � � � � ! � � � � � � � � / � � � � � � � ) � � � � � � � � � � $

,�� � � , � ' g S M S ( M M � � � � # � � � � � � � � � � � � � 8 ; � ' � � � � � � � � � � � 1 � � � ! & � � ' � �! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � � 6 � � @ � � % � ' � � � � � � � � � � � 1 � � � � � G � � � � � � � � � � � 6 � � 6� � � � � � � � � � � � � � � � ; � � � � 0 � � � � � � � � � � � � # � V

� � � � ' 0 � � � � 0 � ! � � � � � � � � � � 1 � � � � � � � � � � � � � � � � � . � m � ! � m � 1 � � � � � � � � � � � � � f � # � $

,���� � # � � ( � � % � ' � � � � � � � � � � � 1 � � � � � � / � � % � � � � � � � A ' B � � # J K K K � 0 � 4 � � : � & � � � � � � � � � � � � � � � �k l ^ r S S S b ( ! � # � � � � � � A ' B � � � � � 0 � � � � � � � � # J K � 0 � 4 � � : � & � � � � � � � � � � � � � � � � k l ^g r S S b ( � � G � � � � � � � � � � � % � � ) � � � � � � � � # � $ � � & � � � � � � � � � � � � ! " % � 2 � 6 � � @ / � � � @ " ������1�� �� �%�'������ �����1�� !�#��!������!��'��&������� �������0���������1�� � �)����� ����� ����!�"�� ��������� �����L�.��1���� � �G��������������f�� %��)�����$

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71

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��6;<�������� �UV��Nature of Meeting

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M � � � ( g S M � � � � n � . � � ( $ $ $ � � � � � � .

� � � � � � � � . � �

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Eastern Zonal CulturalCentre, IB-201, Sector-III,Salt Lake City,Kolkata-700 106

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M � � � ( g S M � � � � n � . � � ( $ $ $ � � � � � � .

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Eastern Zonal CulturalCentre, IB-201, Sector-III,Salt Lake City,Kolkata-700 106

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June, 2010,10.30A.M.

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Eighth AnnualGeneral Meeting

i M ^ S i ^ g S S h � � � � � 0 � � � � � � � , � ' � � � � � � � � � � � � � � � � � � � � � 3 � � � � � G � ( � � � � � � � � � = � � � � � � = � � T � � � � � � � � �� � � � � ' ! � � � " � � � � � � � � � � � � � � I % � � � � � � � � � � � � @ � � @ " �0 � � � � � � 1 � � 0 � @ A B � � � � � � � � � � � � ' . � � & � � � � � = � � 6 � � @� � � � � � � � � 3 � � � � � � � � = � � � � � � � 2 � � � � � � � � � � � � � ' . � � � � 7 � 7 � � ' �! � � � 0 � � � � � � ! � # � � ! @ � � � � � � ; � � � & � � � : n � � � . � 1 � � % � � � � � � � � � � � G � � @ 1 � Y � � � � , � � � � � � � � � $To discuss, approve & adopt the BalanceSheet of the Bank as at 31-03-2008, Profit& Loss Account of the Bank for the yearended 31st March, 2008, the Report of theBoard of Directors on the working andactivities of the Bank for the period coveredby the Accounts, the Auditor’s Report andto Declare Dividend on Equity shares.

i M ^ S i ^ g S S N � � � � � 0 � � � � � � � , � ' � � � � � � � � � � � � � � � � � � � � � 3 � � � � � G � ( � � � � � � � � � = � � � � � � = � � T � � � � � � � � �� � � � � ' ! � � � " � � � � � � � � � � � � � � I % � � � � � � � � � � � � @ � � @ " �0 � � � � � � 1 � � 0 � @ A B � � � � � � � � � � � � ' . � � & � � � � � = � � 6 � � @� � � � � � � � � 3 � � � � � � � � = � � � � � � � 2 � � � � � � � � � � � � � ' . � � � � 7 � 7 � � ' �! � � � 0 � � � � � � ! � # � � ! @ � � � � � � ; � � � & � � � : n � � � . � 1 � � % � � � � � � � � � � � G � � @ 1 � Y � � � � , � � � � � � � � � � � � � � ? � � � � . � m � 6 n � � 7 � ) � � � � ^ � � � � � � � � � � : n � � � . � 1 � � % � � � � � � ����#:7pq� *+�����!��87������ �����!�#��!�� :�0�� � � � � U � � � � 6 � 1 � � % � � � " � � � � � � � � � � 1 � � � � � � � � � � � 9 7 � � �� � � � � � � � ! � � � 0 � � � � � � $To discuss, approve & adopt the BalanceSheet of the Bank as at 31-03-2009, Profit& Loss Account of the Bank for the yearended 31st March, 2009, the Report of theBoard of Directors on the working andactivities of the Bank for the period coveredby the Accounts, the Auditor’s Report, toDeclare Dividend on Equity shares, toapprove voluntarily delisting of equity sharesof the Bank from the Calcutta StockExchange Ltd. and to elect oneshareholders’ director in casual vacancy.

i M ^ S i ^ g S M S � � � % � & � � : � & � � � � � � � � � � � � � � � � �� � 3 � � i M 0 � � 7 � ' g S M S � � � � � 0 � � � � � � � , � ' � � � � � � � � � � � � � � � G � � � � � � � � � � = � � � � � � = � � ! � T � � � � � � � � � � � � � � '! � � � " � � � � � � � � � � � � � � I % � � � � � � � � � � � � @ � � @ " � 0 � � � � � � 1 � � 0 � @ A B � � � � � � � � � � � � ' . � � & � � � � � = � � ! � 6 � � @� � � � � � � � � 3 � � � � � � � � = � � � � � � � 2 � � � � � � � � � � � � � ' . � � � � 7 � 7 � � ' �! � � � 0 � � � � � � ! � # � � ! @ � � � � � � ; � � � : n � � � . � 1 � � % � � � � � � � �� � � G � � @ 1 � Y � � � � , � � � � � � � � � ! � # � � ! � � : � 0 � � � � � � U � � � �6 � 1 � � % � � � " � � � � � � � � � � 1 � � � � � � � � � � � 9 7 � � � � � � � � � � �! � � � 0 � � � � � � $To discuss, approve & adopt the BalanceSheet of the Bank as at 31-03-2010,Profit & Loss Account of the Bank for theyear ended 31st March, 2010, the Re-port of the Board of Directors on the work-ing and activities of the Bank for the pe-riod covered by the Accounts, theAuditor’s Report, to Declare Dividend onEquity shares, and to elect one share-holders’ director in casual vacancy.

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72

6.2 No Special Resolution was passed in the Eighth AnnualGeneral Meetings.

6.3 No Special Resolution was passed by postal ballot duringthe financial year 2010-11. However the shareholders of theBank in the Extraordinary General Meeting held on 23-03-2011passed one special resolution approving issue and allotmentof 29515418 equity shares of Rs. 10 each at a premium ofRs 217 amounting to Rs.669,99,99,886 on preferentialallotment basis to the Promoter of the Bank i.e. President ofIndia(Govt. of India).

6.4 The following Directors were present in the last AnnualGeneral Meeting held on 10-06-2010

Shri J.P.Dua Chairman & ManagingDirector

Shri D. Sarkar Executive Director

Shri. M.R. Nayak Executive Director

Shri Mohammad Tahir RBI Nominee Director

Shri P. V. Gudireddy Part Time Non OfficialDirector

Shri Deveshwar

Kumar Kapila Shareholders’ Director.

Shri Sudip Chaudhuri Shareholders’ Director.

Shri K.K. Dogra Officers’ Nominee Director

7. Disclosures:

Other than those in the normal course of banking business,the Bank has not entered into any materially significanttransactions with its Promoter/Directors, Management, theirrelatives etc. that may have potential conflict with the interestof the Bank at large.

The Bank complied with all the requirements regarding capitalmarket and has not been imposed with any penalty or strictureby the Stock Exchanges or SEBI or by any Statutory /Regulatory Authority during the last three years.

A Whistle Blower mechanism exists in the Bank and nopersonnel of the Bank has been denied acess to the AuditCommittee.

The Bank has complied with mandatory requirement of Clause49 of the Listing Agreement with the Stock Exchanges asapplicable to the Bank.

A certificate of the Statutory Central Auditors on CorporateGovernance for the year 2010-11 is annexed to this report.

A Certificate from the Chairman and Managing Director i.eChief Executive Officer of the Bank and General Manager(F& A)& CFO i.e. the person heading the finance function ofthe Bank, as stipulated in Clause 49 V of the Listing Agreementwith Stock Exchanges, has been placed before the Board andis annexed to this Annual Report.

Management discussion and analysis report forms part of theDirector’s Report.

7.1 Non-Mandatory Requirements

The extent of implementation of non-mandatory requirementsis furnished hereunder

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� � � � � � � � � 8 E ) � � � � � ) � � � � � � � � � @ � � @ � " � � � � � 0 � � � � ! � � � 2 � � ! � � � ! � � � � � � � � � � � � % � � � # ���&��!�%���.�m� 6n��7� )�� !&����������%�����@����"�� b������%��0�� /���"�� ��;�T � � � � � � � p q � � � � � � � � � � , � � H 0 � � � � � � � � � � � � � ' ! & � ' � @ A B � � � � f � � � � � % � � � � % � � � # � ! � # � �� � � � � � � � � � ! � � � � � 7 � � � � � � � � � ' � # � $� � � � 0 � � � � � ) � � � � � � � � % � � � 0 � # � � � � � ` � 0 � 4 � � � � � " � � # � � � & � � � � � � � � � � � � � G � �� � 9 0 � � � � � � � � = � � � � � � � 2 � � � � � 0 � � � � � � � � 0 � � � � � � � � � 0 � � � � � � � � f � � % � � � � % � � � # � $

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6.4

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73

8. Means of Communication:

The Bank appreciates the benefit accruing to the society withthe advent and advancement of technology and means ofcommunications and further recognized the need of keepingits stakeholders informed of the events of their interest. Thequarterly/half yearly/ annual financial results of the Bank areinformed to all the Stock Exchanges where the shares of theBank are listed. These are published in one national newspaperand one regional language newspaper based at Kolkata asper statutory requirement. During the year 2010-11, thequarterly financial results were published ‘in leadingnewspapers namely “Financial Express”(English), BusinessStandard (English), DNA Money (English) and “Aanand BazaarPatrika ”(Bengali). The results are also displayed on the website of the Bank www.allahabadbank.in.

The presentation made to the analysts/institutional investorsare hosted on the Bank’s Website www.allahabadbank.in

9. General Shareholders Information:

9.1 Particulars of 9th Annual General Meeting

&���B�� &��#�������REQUIREMENT COMPLIANCE

The Directors are nominated for training programs as and whenorganized by IBA/BTC/NIBM and other accredited institutions.

Company may train Board members in the Business model ofthe Company as well as risk profile of the business parametersof the company, the responsibilities as Director and the bestway to discharge them

������&�6������������ ��#R� ���/��8�:�H��/��8��Day & Date Friday, 10th June,2011����!� ��H ���W����8�*8Time 10.30 A.M.�%���� (������:�����������3��������'��/

&�(�����9�8�/����)��9XXX/����������������/���������� ���9�K88�8GVenue Eastern Zonal Cultural Centre,

IB-201, Sector-III, Salt Lake City, Kolkata-700106

9.2 Financial Year and Calendar for Publication of FinancialResults (Tentative)

The Financial Year of the Bank is April to MarchApproval of quarterly results for the period ending

June 30, 2011 - End of July,2011

September 30,2011 - End of October,2011

December 31, 2011 - End of January, 2012

March 31, 2012 - Audited Annual Accounts-April- May, 2012

9.3 Date of Book Closure (Dividend & AGM)

Book closure- Monday 16th May, 2011 to Friday, 10th June,

2011 (Both days inclusive)

9.4 Dividend Payment Date: Tuesday, 28th June, 2011.

� @ � � � � � � � � � A ' B � � � � � � % � � � � � � @ � � � � � � � � % � � � � � � % � 0 � � m A B � � � � � � � & � ( � � � & � � @ � � � � �

�� �%������%���#���0���.��� �� )����=�0�/���F ����������1�� �� *+��0� 4?������%�����

! � # � � 4 � � � � � � � � � � � � D � � @ � � � � � � � � G � � � � � � � � � � � � � � 0 � / � � 1 � � 2 � � � � � @ � � �

!��' ���6b����.����b6��!��' ���60���&��!�% �!�"�� 5 ����@ �&��!� T ����!�%����)���

� � 6 ) � � � � � � � � � � � / � � 1 � 2 � ; � � � % � ' I 0 � � 0 � � � � � � 1 � � � � � � / � � 1 � 2 � ; � � � � � � � � � � � 0 � � �

� � % � � ) � � � � � � # � $

O�����@��Y�=���������7!���� � � � / � � # c � � � � � � � ! � # � � � � @ 7 � � � � 0 � � " % � 0 � � � � 4 \ � % � � � ! � # � � � � � � � � � � � � � � 0 � � ) � � � �� 0 � � � � � � � � � � � � � � � G � � � � � 0 � � � � � � � � # � ! � # � � � � � � � � � � & � � � � � � � � � � � ! � � � � �� � � � � � " � � � � � � � � � 4 � � � � � � @ � � @ " � 0 � ! � % � � � 8 7 � � � � 6 E / � � � � � � � � � � � � � ! � � � 1 % � � � � �� � � G � � � � � � � � � � � � % � � � # � $ � � � � 4 � � � � 0 � � � � � � . � m � 6 n � � 7 � ) � � � � � � � � 0 � � � � � bp q 0 � � � � � b � � � 9 , � � � � � ? � � % � � � � � � ; � � 0 � / � � � , � � � � � � � � � � # � ) � � � � E � � � � � � 1 � � % � � � � � 8 7 � � � � � � � � $ � � � � � � � @ � � � � " � � ! � � � 2 � � � � ! � � � � � � � � 6 � � � � , � - . � % � � � 0 � � 7 � � � � � � 3 � 0 � � � & � �6 � � � � � � � � � � � : � & � � � Guºteg CtMt fuU � � 0 � � 7 � � � � � � 3 � 0 � / � � � � 1 � � � � � % � �)������#�$��,�'gSMS(gSMM�� ��#��������0��������?��%������;��0�‘‘F �����:�1�%���6 n � � / � � � �” P ! @ C � � ) � � Q ‘‘� � � ) � � � � � � � � # . ; A B A ' B” P ! @ C � � ) � � Q A B � 6 � � 6 0 � � � � P ! @ C � � ) � � Q��&��!��������)�������3�� �P��@�����Q�������!C�;����0��7������3�� 0� /�� ��1���rfUY dY :u$ � � � � � ; � � 0 � � � � � � � � � � � � � � � � � � � � � . www.allahabadbank.in

� � � � G � � / � � 9 1 � � � � � % � � � � % � � $� � � 1 � � � , � � � � @ b � � @ � & � � � � � � � � � � � � 1 � � � � � � � � 6 � � 6 / � � ) � � � � � . 1 � � � � � � � � � � � � � � � � � � � .www.allahabadbank.in � � � � � � 6 � � 6 � � � $P�����!���7�������'�M�N �#����7����=����H3����P������6 �Z� ��[Y�������7����=����6;<�������� � ���=�

P���� �S��!������1�����&�6��������=�����'�����@���������C&���� ���D

� � � � � � � � � ? � � % � � � , � ' ! / � # � � � � � 0 � � 7 � ' � # � $ � � � 0 � � � � � � = � � � � � � � � � = � � � � � � 0 � � � � �! � � � " � � � � � � � � � � 0 � � � � � � � � � � ; � � 0 � � � � ! � � � 0 � � � � � �

i S ) � 8 � � � g S M M ( ) � � � � � � ' � g S M M � � ! @ � �i S � � � � � 0 � � � � g S M M ( ! U 8 � � � � � g S M M � � ! @ � �i M � � � � 0 � � � � g S M M ( ) � � � � � � � � g S M g � � ! @ � �i M 0 � � 7 � ' g S M g ( � � � = � � � � � � � � 2 � � � � � � 9 , � � � � � = � �

yŒiÖt( 0 � � ' g S M g

P�*���#���)����:�������� �����5��C���0������. ���.:��.��D

��#���)����:�����9������� �������G���(�/��8���������#R� ��������8�:�H��/��8��C�������������������������M6N�D

P�+����0������0�#�� ���������� ��%���������� ����/��O�:�H��/��8��

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74

The annual listing fee for the financial year 2011-12 has alreadybeen remitted to the above Stock Exchanges.

9.5.2 Compliance Officer

Shri A.B. Bhattacharjee General Manager (F&A)& CFO hasbeen designated as the Compliance Officer for complying withvarious provisions of SEBI, other statutory authorities andListing Agreements with Stock Exchanges.

9.6 Market Price Data:

The monthly high and low quotations and the volume of sharestraded on National Stock Exchange (NSE) and Bombay StockExchange (BSE) during the Financial year 2010-11 were asfollows:

��T���.)��3�':� ��T��������� ���\��������� ��%�

Stock Exchange Stock Code Date of Listing

� � � 1 � � � � � � � . � m � 6 n � � 7 � ) � P 6 � � 6 � � � ' Q 6 6 � � � � � � � National Stock Exchange (NSE) ALBK 27.11.2002

0 � � 0 � � � ' � � . � m � 6 n � � 7 � ) � P � � � 6 � � � ' QBombay Stock Exchange (BSE) 532480 27.11.2002

9.5 Listing

9.5.1 Listing on Stock Exchanges

���MN�/ Month .��.��(��/ NSE ���.��(��/ BSE

>33� ������ ���]�� >33� ������ ���]��High Low Qty. High Low Qty.(Rs) (Rs) (Nos) (Rs) (Rs) (Nos)

! / � # � � April 10 177.10 142.45 41255597 177.00 142.00 7984310

0 � � ' May 10 166.80 148.15 25546029 166.40 148.00 3670860

) � 8 � � June 10 168.80 156.00 18589429 168.70 156.10 4174825

) � � � � � � ' July 10 196.20 158.25 29713124 195.90 158.40 5310263

! � � � � � Aug 10 220.80 193.00 27579684 220.95 185.95 3049970

� � � � � 0 � � � Sep 10 238.05 208.25 19627893 236.90 200.00 2796580

! U 8 � � � Oct 10 261.80 226.25 21341463 261.50 225.00 2912381

� � � � 0 � � � � Nov 10 271.95 228.28 18890314 270.90 228.05 1697847

� � � � 0 � � � Dec 10 253.00 192.50 25068110 255.10 199.00 3470262

) � � � � � � � � Jan 11 232.30 195.65 19068624 232.40 196.50 3980564

F � � � � � � � Feb 11 217.15 182.85 13903810 225.00 183.00 2610366

0 � � 7 � ' Mar 11 183.50 236.30 11746449 240.00 195.00 1600130

P�,�����\���

P�,������T���.)��3�':����'����\���

���?���,�'gSMM(Mg���������9,�� ��87��������1���� 4��%��'U ��.�m� 6n��7� )�� � � � � � � � � � � � � � � � � / � � � , � � � � � % � � ) � � 7 � � � � � # � $

P�,�� &��#��������&�7�������

] � � 6 ^ � � � ^ G � � a . � . � 7 � � % � ' � 0 � � � � / � � � @ " � � P � � � ? � 6 � � @ � � � = � � Q 6 � � @ meYVUytu� � � � � � � � �� � � � � � G � \ � / � � � � " � � � � � � ! � % � � � @ �� � � � " � � / � � � " � � � � � � % � � ! � # � � � � . � m � 6 n � � 7 � ) � � � � � � � & � � � 8 7 � � � � � � � � � � � � � � � � ! � � � � � � � � � � � � � � � � � � � � � � ! � � � � � � � � � � ! � " � � � � � � � � * + � � 0 � � � � 0 � � � � { , � . � � % � � � � % � � � # � $

P�G���:�������H�!������F��1������!����'�������H�!�����Y�������� � � ? � � % � � � , � ' g S M S ( M M � � � � # � � � � � � � � 1 � � � � � � � . � m � 6 n � � 7 � ) � P 6 � � 6 � � � ' Q ! � # � �� � � 0 � � � � � . � m � 6 n � � 7 � ) � P � � � 6 � � � ' Q 0 � x[uL A B � � � � 6 � � 6 1 � � % � � � � � � 0 � � 3 � � ! � # � �

0 � � � � � � 4 7 7 � 6 � � @ � � � 0 � � � � � � � . 1 � � � � � � � � � � � � � ; � � � � 0 � � � � � � � � � � � V

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75

9.7 Performance of Bank’s share in comparison with themovement of S & P CNX Nifty is shown hereunder:

��������� .��.��(����'���1����������!����'�����)���� :������H�!� .���.�����������.��.)������Q�Date Closing Share Price of Bank at NSE (Rs) S & P CNX Nifty

01-04-2010 143.25 5290.5003-05-2010 159.55 5222.7501-06-2010 161.05 4970.2001-07-2010 160.10 5251.4002-08-2010 197.85 5431.6501-09-2010 212.70 5471.8501-10-2010 233.70 6143.4001-11-2010 255.15 6117.5501-12-2010 245.10 5960.9003-01-2011 230.10 6157.6001-02-2011 199.15 5417.2031-03-2011 229.75 5833.75

9.8 Registrar and Share Transfer Agent:

M/s MCS Ltd. 77/2A, Hazra Road Kolkata-700029 is ourRegistrar and Share Transfer Agent

9.9 Share Transfer System.

As per SEBI guidelines, investors can avail the facility ofsimultaneous transfer-cum-dematerialization of shares.Registrar and Transfer Agent, on transfer of shares, would besending the intimation of transfer to the transferee. Transfereesare apprised to submit their request for de-materialization totheir Depository Participant. On receipt of Demat request, theshares are dematerialized. If the demat request is not receivedwithin a period of 30 days, the transferred share certificate isdispatched to the transferee in physical form.

9.10 Distribution of shareholding as on 31-03-2011

�-��=�� ���!�����������5!�� �7�����������5!�� ���!��������@�� ��� � 7������������@�� ��� �Category No of shares No of holders Percentage of Shares Percent of holders

1 to 500 26958496 149568 5.66 88.58

501 to 1000 10080134 14549 2.12 8.62

1001 to 2000 4307141 3025 0.90 1.79

2001 to 3000 1687965 690 0.35 0.41

3001 to 4000 982342 279 0.21 0.17

4001 to 5000 644777 139 0.14 0.08

5001-10000 1587298 221 0.33 0.13

10001-50000 4133415 182 0.87 0.11

50001-100000 3192539 40 0.67 0.02

100001 and above 422641311 157 88.75 0.09

�#��� / TOTAL 476215418 168850 100.00 100.00

9.11 Dematerialization of shares

The Bank’s shares are compulsorily traded in demat form. TheISIN code of Bank’s Equity Shares is INE428A01015.

As on 31-03-2011, 429196007 shares constituting 90.12% ofthe equity shares are in dematerialized form.

Particulars of shares in Demat and Physical form held by theshareholders as on 31-03-2011 are as under:

P�K 6 � � 6 @ A B � � � � � � 6 � � 6 n � � � � � e � . � � � � � � � � � � � 0 � � � � � � � 1 � � % � � � � � �

� � % � ' � � � , � � � � � � � � � 0 � � � � � � � # � V

P�O ���:��_����. ������!����_����`���.:�'0 � � � � � � ' 6 0 � � � � 6 � � � � � � 0 � ^ R R b gA � � � ` � � � � � � � � A B � � � � � � � � � � � R S S S g N � � 0 � � � � �

� � � ) � � � - . � � � 6 � � @ 1 � � % � � � - . � � � � F � � 6 ) � � � � . � � � $

P�P����!����&� ���=��@�=�����

� � � � � � � � 1 � � � � � � > 1 � � � � ! � � � � � � � � � � � � � � 1 � � � � ; � 6 � � � � & � 1 � � % � � � � � � ! @ � � � � ; � ( � � � (�AB0����.���%�����)��1���� �������"��!�������� ������$1��%���� �� ������@����;��� �������)���-.���6��@������@����;�6)� �.������@��������� ��������@����;�� ���87����G��)�����$������@��������%�� � ��%���!������� ���%��)������#��� ��������AB0����.���%�����)��1���������!�����!�������"��AB���m�)��.������9�.����� �.� ��/�������� � �$�AB0���.������!�������"�/����������������1��%���� � ���AB0����.���%�����)�� ����%��)������#�$%���iS����� �� !@����AB0���.������!�������"�/���������f��������#�����������@@�������1��%���/�0��;���3�� � � � � � @ � � � � � � � � � � � G � � # � � � � * + � � 0 � G � � ) � � � % � � ) � � � � � � # � $

P��8���!����7����=������� �UV���C*��8*��8��������!�%��?�%�� ��D

P������!����'���������������!����(:������

� % � � � � � � � � � � � � � � � � � � � 1 � � % � � � ! � � � � � � % � ' * + � � � � � � A B 0 � � � . F � m 0 � ' 0 � 4 � � � � � " � � # � @ $ � � � � � � � : n � � � . � 1 � � % � � � � � � ! � � ' 6 � � ! � � ' 6 � � � � � A B � # INE428A01015.

i M ^ S i ^ g S M M � � � % � & � � : � & � � � � � � � � � � O g N M N o S S R 1 � � % � � � �

� A B 0 � � � � . � � � % � � � � � ) � � � � ) � � � � : n � � � . � 1 � � % � � � � � � N S ^ M g% � # � $

i M ^ S i ^ g S M M � � � % � & � � : � & � � � � 1 � � % � � � " � � � � � T � � � � � A B 0 � � � . ! � # � � � F � ) � � � �

F � m 0 � ' 0 � � � = � � � � 6 1 � � % � � � � � � � � � � � � � ; � � � � 0 � � � � � � � � � � � � # � $

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76

���!���7�������'��������5!�� ���!����'��������5!�� ���!���7����� �������%%%%%No of shareholders No. of shares % of shareholding

� F � ) � � � � / PHYSICAL 55618 47019411 9.88

� A B 0 � � � . / DEMAT

6 � � 6 � � A B � 6 � � / NSDL 83656 175223149 36.79

� � � A B � 6 � � 6 � � / CDSL 29576 253972858 53.33

�#����FTOTAL 168850 476215418 100.00

The total Equity holding of Govt. of India as on 31-03-2011is 276215418 which constitute 58.00% of the total paid upcapital of the Bank.

9.12 There is no outstanding GDRs /ADRs /Warrants orany Convertible instruments as on date.

10 Share Transfer and Redressal of Investors’ Grievance

The Bank has appointed M/s MCS Ltd. as the Registrar andShare Transfer Agent for recording the shareholders’ requests,resolution of investors’ grievances, amongst other activitiesconnected with the change of address, transfer/transmissionof shares, change of mandate etc. For the convenience of theinvestors, grievance/ complaints from them are also acceptedat the Bank’ Head Office in Kolkata.

The investors may lodge their requests/complaints either withthe Registrar or with the Bank at the following address:-

The Company Secretary

Share Deptt.& Investors’ Grievance Cell

Allahabad Bank, Head Office

2, Netaji Subhas Road

Kolkata-700 001

Tele: 033-22420878

Fax: 033-22107424

Email: [email protected]

M/s MCS Ltd. (Unit : Allahabad Bank)

77/2A, Hazra Road,

Kolkata-700029

Tel; 033-24541893 / 033-24541892

Fax : 033-24541961,24747674

Email: [email protected] OR

[email protected]

0 � � 6 0 � � � � 6 � � � � � ^

R R b g 6 � � � � ) � � � � � � � � A B �

� � � � � � � � � � ( R S S S g N

� � . � � � V 033-24541893 / 033-24541892

F # n � � V S i i ( g O r O M N o M � g O R O R o R O

� ' 0 � � � � V [email protected] OR

[email protected]

� @ � � � � � � � � 7 � � �1 � � % � � � � � � G � � � � 6 � � @ � � � � � � 1 � � � 1 � � � % � � � � 2 �� � � � � � � � � � � � � � � � / � " � � � � � � % � � ' � � % �g � � � � � � � ) � � � � � G � � , � � � � � A B� � � � � � � � � � ( R S S S S M� � . � � � V S i i ( g g O g S h R hF # n � � V S i i ( g g M S R O g O� ' 0 � � � � V [email protected]

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� � � � � � � 0 � � ^ 6 0 � � � � 6 � � � � � ^ � � � � � � ) � � � - . � � � 6 � � @ 1 � � % � � � ! @ � � � � ; � 6 ) � � . � � * + � � 0 � � � � % � � U � � % � � � # � ) � � � � � � � � � 1 � � � � � � 1 � � � % � � � � � � � � 0 � � " � � � � � � � & � � � � � � � 0 � � � � � � � � � � ' � � � 1 � � % � � � � � � ! @ � � � � ; � b / � � , � ; � � ! � " � � � 1 � 0 � � � � � � � � � � ' � � ! � � � � � � � @ � � @ " �0 � 1 � � % � � � " � � � � � � � � ! � � � � � � � " � � � � � ) � ' � � � � � � � # � $ � � � � � � 1 � � � � � � � � � � � " � � � � � � � �4 � � � � � 1 � � � % � � � / � " � � � � � � % � � ' � � % � � � � � � � � � � � � 0 � G � � � � � � � � � � � � ) � � � � � � � � $

� � � � � � 1 � � ! � � � � � ! � � � � � � � " � b � 1 � � � % � � � % � � � � � � � � � ) � � � - . � � � � � � � � � � ! & � � � � � � � �

0 � � � � 0 � � � � � � � � � � � � � � � � � � � � ) � ' � � � � � � � � � � � � V

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77

10.1 Number of complaints received, resolved and pending

All the complaints from the shareholders are received directlyby M/s MCS Ltd. Kolkata and those received by the Bank areforwarded to them. The details of requests/complaints receivedand resolved during the Financial year 2010-11 and pendingas on 31-03-2011 are as follows:

Pending as on 31-03-2010 Received during 2010-11 Resolved Pending as on 31-03-2011

No. of Complaints/requests 1 � 8 � % � bNil 1636 1636 1 � 8 � % � bNil

The details of unclaimed shares lying in the Demat SuspenseAccount are as under: i) Shares outstanding/unclaimed

as on 01-04-2010 - 4461 ii) Shares claimed and transferred to

Beneficiary account during theyear 2010-11 - 335

iii) Shares outstanding/unclaimedas on 31-03-2011 - 4126

The voting rights in respect of the unclaimed/outstandingshares will remain frozen till the claim by the rightful owner.On the receipt of valid claim from the rightful owner, the shareslying in the Demat Suspense account are credited to theclaimant.

11. Shareholding Pattern (as on 31.03.2011)

� � ���=� 7�������'��������5!�� 7����� �����!����'��������5!�� (?) �������%

Description No. of Holders No. of shares held % to equity

G � � � � � � � � � � � � � �Government of India 1 276215418 58.00

� � � 0 � � � @ � � � � � % � � EInsurance Companies 19 60462606 12.70

0 % � � 7 � � ! � � F @ A Bb % � � � . � ! � � 'Mutual Funds/UTI 65 13373604 2.81

� � � ? � � % � � � @ � & � � 6 E b � � � � Financial Institutions/Banks 11 153140 0.03

� � � � � 1 � � � � @ � & � � � � � � � � � � � � 1 � � P � � � � � 1 � � � � � ? � � % � � � @ � & � � 6 E QForeign Institutional Investors ( Foreign Financial Institutions) 157 71706794 15.06

� � � � � � 0 � � � � � � � � % �Bodies Corporate 1372 5829446 1.23

! � � � � � � � � � G � � � � � � � % �Non Resident Indians 794 317465 0.06

� 0 � ' 7 � � � � � % � � � � � � � � � � � � � � � � � � � % � � U Resident Individuals including Employee 166431 48156945 10.11

�#��� /TOTAL 168850 476215418 100.00

�8���@��� �/����� ����� ��. ��������� ��������!� ��'��������5!��1 � � % � � � " � � � � � � � � � � G � � � 1 � � � % � � � � � � " � � 0 � � � � � � ' 6 0 � � � � 6 � � � � � ^ � � � � � � � � � � �T � � � � / � � � � � � � ) � � � � � � � � � � & � � � � � � T � � � � / � � � � � � � � � � ' � 1 � � � % � � � � � � � 4 U � @ � � � � � � � � ! C � � � , � � � � � % � � ) � � � � � � # � $ � � , � ' g S M S ( M M � � � � # � � � � � / � � � � � 6 � � @� � � � � � � � � � � � � � & � � � � � � � @ � i M ^ S i ^ g S M M � � � � � @ � � � � � ! � � � � � � � " � � b � 1 � � � % � � � � � � � � � � � � � ; � � � � 0 � � � � � � � # � (

� � � � � @ � i M ^ S i ^ g S M S � � �% � & � � : � & � � � � � � @ � � � � �

g S M S ( M M � � � � # � � � � � / � � � � � � � � � � � � � � � � � � � � � � @ � i M ^ S i ^ g S M M � � �% � & � � : � & � � � � � � @ � � � � �

� 1 � � � % � � � � b ! � � � � � � � " � � � � � � @ ^

A B � 0 � � � . 4 7 � @ � � = � � � � � 0 � ! � � � � � � � d � B 1 � � % � � � � � � � � � � � � � ; � � � � 0 � � � � � � � # � V

i) � � � � � @ � S M ^ S O ^ g S M S � � � % � & � � : � & � � � �� � � � % � � b ! � � � � � 1 � � % � � ( O O o M

ii) � � , � ' g S M S ( M M � � � � # � � � � � � � � � � � 5 � � 6 � � @ � � � G � � & � w= � � � � � 0 � ! @ � � � � � � � � 1 � � % � � � ( i i r

iii) � � � � � @ � i M ^ S i ^ g S M M � � � % � & � � : � & � � � �� � � � % � � b ! � � � � � 1 � � % � � � ( O M g o

! � � � � � b � � � � % � � 1 � � % � � � � � � � � @ � � @ " � 0 � 0 � � � � � � � � � � � � � � � ! � " � � � � � � � � 4 � � � � � � � � � � � � � � 0 � � T � � � � � � � � � � � � � � � � � � � � � � � � � = � � ) � � 6 � � � $� � � � � � � � � 0 � � � � � � � # " � � � � � � � � / � � : � � � � � � � A B � 0 � � � . 4 7 � @ � � = � � � � � 0 � � � d � B B 1 � � % � � � � � � �� � � � � � � � � � � = � � � � � 0 � ) � 0 � � � � % � � ) � � � � � � # � $

�������!���7����� �����b�� ��C�����������*��8*��8��������!�%��?�%�� �D

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78

Date: 02-05-2011Place: Kolkata

(J. P. Dua)Chairman & Managing Director

12. National Electronic Clearing Services ( NECS)

National Electronic Clearing Services (NECS) is a novelmethod of payment of Dividend, where the amount to theinvestors can directly be credited to his/ her Bank Account.The Bank is offering the services to the shareholders with anoption to avail the facility for direct credit of the dividend intheir Bank account. However the Bank account of theshareholders should be in Centralized Banking Solution(CBS)Branch of the Bank.

The ECS mandate form is enclosed with the Annual Report,which may be sent to the Registrar & Share Transfer Agent bythe shareholders, who are holding shares in physical form.Shareholders holding shares in dematerialized form maycontact their respective Depository Participant for their ECSmandate. The option to receive dividend through NECS maybe discontinued at any time at the instance of the shareholders.

13. Code of Conduct

The Bank has framed the “Code of Conduct” applicable to theBoard of Directors and Senior Management Personnel andthe same has been adopted by the Board at its meeting heldon 17-10-2005 and the same is available on the Bank’swebsite viz.www.allahabadbank.in

The Board members and Senior Management Personnel haveaffirmed compliance with the code on annual basis and adeclaration to this effect from the Chairman and Managingdirector, forms part of this report.

Declaration

The Bank has laid down “Code of Conduct” for all the Boardmembers and Senior Management Personnel of the Bankand the same is posted on the Bank’s website.

The Board members and Senior Management Personnel haveaffirmed compliance with the Code of Conduct.

For and on behalf of the Board of Directors

������������(���)_�?�����?)��!�^������������C.��(�����.��D

� � � 1 � � � � � � � � � n � - . � : � � � : n � � % � L � � � � � � � � � . 0 � P 6 � � � ' � � � � 6 � � Q � � � G � � @ 1 � � � G � � � � � � � � �

� � 6 � � � � ' � � � � " � � # � � ) � � � 0 � � � � � � � 1 � � � � � � � 0 � � � � " � � 4 � � � � � � � � = � � � � � 0 �

) � 0 � � � � ) � � � � � � � � � # � $ � � � � ! � � � � � 1 � � % � � � " � � � � � � � � � 4 � � � � � � � � = � � � � � 0 �

� � � G � � @ 1 � � � � " � � ) � 0 � � � � � � � � � � � � � � � � " � � � � � � � � � � � 4 � � � � � " � � � � � � � � � � � # � $

� � & � � � � � 1 � � % � � � " � � � � � � � � � � � = � � � � � � � � � � � � � � X � % � � 5 � � � � � L � � � � � � � % � 8 1 � � �

P � � � � � � 6 � � Q 1 � � = � � 0 � � � � � � � � 7 � � � � � 6 $

� ' � � � 6 � � 0 � � � A � B � . F � m 0 � ' � � � 9 , � � � � � � � � � � ' . � � � � � & � � � @ � � � � � � # � � ) � � � � � F � ) � � � �

1 � � % � � � " � � � � ; � � � � � � � � � � � � � 1 � � % � � � " � � � � � � T � � � � � � � ) � � - . � � � 6 � � @ 1 � � % � � � ! @ � � � � ; � 6 ) � � .

� � � G � � ) � � ) � � 6 $ � A B 0 � � � . � � � % � � � � � ) � * + � � 0 � 1 � � % � � � � � = � � � � � � � � � � 1 � � % � � � " � � � � �

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� � � � � � � � � � � � 6 � � � ' � � � 6 � � � � 0 � � " % � 0 � � � � � � � G � � @ 1 � / � � � � � � � � � � � � � � � � � � � �

� � 0 � � � � � � � % � � ) � � � � � � � � � # � $

�*�&�3���������MN ��

� � � � � � � � � � � � 1 � � 0 � @ A B � � ! � # � � � � � � � , J K K K / � � � @ " � � � � � 9 0 � � � � � � � � � / � % � � � ) % � ‘‘! � 7 � � � �� � @ � � � � � �’’� � # % � � � � � � � # � ! � # � � � � � � M R ^ M S ^ g S S r � � � ! � % � � � � ) � � � ! � � � � � � � # J K K � 0 � � � � � A ' B T � � � � ! @ � � � � 5 � � � � % � � � � % � � � # � � � & � � % � � � � � � � � � � � � � � � � � � � . ! & � � ' � �www.allahabadbank.in � � � � G � � 4 � � � � � " � � # � $

� � � � A ' B � � � � � � % � � ! � # � � � � � � � , J K K / � � � @ " � � � � � � � � � 9 , � � ! � " � � � � � � � � � � @ � � � � � � � � ! � � � � � � � � � � � � � � � : , � . � � � # � ! � # � � ! " % � 2 � 6 � � @ / � � � @ " � � � � � � 1 � � � � ! � � � � � � � � �� � � ' � � � ! � 1 � % � � � Y � � � , � ; � � � � � / � � � � � � � � � � � � ! @ 1 � � # � $

A���Y�=��

� � � � � � � � � � � A ' B � � � � G � � � � � � % � � ! � # � � � � � � � � � � � � � , J K K / � � � @ " � � � � � � � � � ! � 7 � � � �� � @ � � � � � � � � � " � � ' � � � � � � � � # � ! � # � � � � � � � � � � � � � � � � � � � � � � . � � � � G � � A B � � � � � # � $

� � � � A ' B � � � � � � % � � ! � # � � � � � � � , J K K K / � � � @ " � � � � � � ! � 7 � � � � � � @ � � � � � � � � ! � � � � � � � � � � � �� � � � � � � � � � � U � � � # � $

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79

Auditors’ Certificate

To The Shareholders of Allahabad Bank

We have examined the compliance of conditions of CorporateGovernance by Allahabad Bank, Kolkata for the year endedon 31st March 2011, as stipulated in clause 49 of the ListingAgreements with the Stock Exchange(s).

The compliance of Conditions of Corporate Governance is theresponsibility of Management. Our examination was limited toprocedures and implementation thereof, adopted by the Bankfor ensuring the compliance of the conditions of the CorporateGovernance. It is neither an audit nor an expression of opinionon the financial statements of the Bank.

In our opinion and to the best of our information and accordingto the explanations given to us, we certify that the Bank hascomplied with the conditions of Corporate Governance asstipulated in the above mentioned Listing Agreements; to theextent these do not violate RBI guidelines.

We further state that such compliance is neither an assuranceas to future viability of the Bank nor the efficiency oreffectiveness with which the management has conducted theaffairs of Bank.

���5�������B����'�����@����=���]�

(���MN���������1����������!���7�������'��������.

� � 0 � � � � � � . � m � 6 n � � 7 � ) � � � � � � � & � � � � � � � � � 8 7 � � � � � � � � � � � � � � � � = � @ A B O N 0 � % � & � � � � � " � � ' � � � � � � � ! � � � � � � � � i M 0 � � 7 � ' � g S M M � � � � � 0 � � � � � � � , � ' � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � . � � � � � � H � � � � : � & � � � � % � � � � ! � � � � � � � � � � � �) � � E 7 � � � � # � $

� � � � � � � � � � � . � � � � � � > � � � � � 1 � � � � H � � ! � � � � � � � � � � � � � ) � 0 0 � � � � � � � / � � � @ " � � � � � � # � $� � 0 � � � � � ) � � E 7 � � � � � � � � � � � � � � � � � � H � � � � 1 � � � � H � � ! � � � � � � � � � � � � � � � � : 1 7 � � � � � � � � �� � � � � � � � � � � � T � � � � ! � � � � � � ' � � � ' / � � I % � � ! � # � � 4 � � � � � � % � � ' � � � % � � � � � � � � � � 0 � � �& � � $ % � � � � � � � � � � � � = � � � � � � � 2 � � � # � ! � # � � � � � � � � � � � � � � � � ? � � % � � � � � � � � ; � � � � � �! � G � 0 � � � � % � U � � � � � � � # � $

� � 0 � � � � � � � � % � 0 � � � & � � � � 0 � � � � � 4 ? � 0 � ) � � � � � � � � � 0 � � � 0 � � � 6 � � 6 � � � , � . � � � � ; � � � ! � � � � � � � � � � 0 � / � 0 � � � ; � � � � � � � � � � � � � � � � � � � � � 4 � � % � � ' U � � 8 7 � � � � � � � � � � � � � � 0 � � � � " � � ' � � � � � � � � � � � � � � � � � . � � � � � � H � � � � 1 � � � � H � � ! � � � � � � � � � � � � % � � � # � ! � # � � % � � �G � � � � � � � % � � � � ) � � � ' � � � � � � � � 1 � � � � � � > 1 � � � � 4 � � � @ Y � � � � � � � f � � � � � � � # � $

� � 0 � % � � � G � � � � � � � � � # � � � % � � � ! � � � � � � � � � � � � � � � � � � � � � � G � � � � � � % � � � � � � % � ' � � �� � � � � � ! � < � � � � � � � # � ! � # � � � � � � � � � � � � � � � % � ' � � � , � � � � � � 0 � / � � � @ " � � � � � � � 1 � � � � � �6 � � @ / � G � � � � 1 � � � � � � � � # � $

�c� ����������#��� ���#�������������5��.��������� � � � � � � � � = � � � � � �

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�� �����55420(Dilip Kumar Agarwalla)PartnerMembership No. 55420

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Page 80: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

80

� � � � � � � � � � � � � � � � � � � � � � A L L A H A B A D B A N K

� � �� � � � � � � �� � � � �fUtu g:trô:r;�������������BALANCE SHEET AS ON 31ST MARCH, 2011

��������� � � � � � � � � � � ��������� 31.03.2011 ��������� 31.03.2010�� ������� ���� �� ������� ����

Particulars Schedule As on 31.03.2011 As on 31.03.2010(� in thousand) (� in thousand)

� � � ! � � � � � " # $ � % & � � � � ' CAPITAL & LIABILITIES������� / Capital 1 4,762,154 4,467,000

������� ���� ���� ���������� /Reserves & Surplus 2 80,311,712 63,062,524

������������� / Deposits 3 1,318,871,603 1,060,557,540

���� / Borrowings 4 69,181,774 54,354,751���������� ��� ���� ����������� / Other Liabilitiesand Provisions 5 39,736,366 34,550,315

����� / Total 1,512,863,609 1,216,992,130��������� / ASSETS��� ������������ �!"#���� ���"#������$��� �������Cash and Balances withReserve Bank of India 6 79,009,281 71,837,784 �!"#�%���� ��� ����������$�����&�� �'����(���)��*������������������Balances with Banks andMoney at Call and Short Notice 7 31,264,477 19,844,466����������� / Investments 8 432,470,643 384,286,239

��+��� / Advances 9 936,248,884 716,048,718

�)'����,) ����� / Fixed Assets 10 11,482,285 11,182,746

�������,) ����� / Other Assets 11 22,388,039 13,792,177

����� /Total 1,512,863,609 1,216,992,130

��"#�)��"#������ ���� / Contingent Liabilities 12 563,944,857 490,807,906

)��+�-./��"�#��(���� �(� / Bills for Collection 39,845,979 29,443,736

������������ �������������������Significant Accounting Policies 17

��������������������� Notes on Accounts 18

W¥vh mk=rCo; ylwmqragtâ ÖtuFu fUt ����0� ykd nîi1The Schedules referred to above form an integral part of the Accounts.

Y. ce. CÕtatgo

��-.��� ����"#�2���3�������(��4��������)���5#���6A. B. BhattacharjeeGeneral Manager

(Finance & Accountsand CFO)

78�9�)�"#�"#�������(�"#���������"#

(D. SARKAR)Executive Director

���9���9������"#"#�������(�"#���������"#(M. R. NAYAK)

Executive Director

�)�9��(�9���$��)�-.���"#���-.��� ����"#�2���3�������(��4��6

(S. L. JAIN)Assistant General Manager

(Finance & Accounts)

":# ������������������������������ !"#��!�$/For Sudit K Parekh & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 110512 W

%&����������'� �� ) (Srikant Jilla)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-39461

":# �����������78��)����)��<>=)�For P A & Associates

)�������(��4��"#� / Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No:313085 E

2���(�����"?#�����+����(�6(Dillip Kumar Agarwalla)

���<�=�� /Partner)���)�� ���)��9/ Membership No.-55420

":# ������9���9�������/����78�"�#9For M. R. Narain & Co.

)�������(��4��"#� / Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 002330 S

�2���9����9�����"#<=�����6�(M N Venkatesan)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-22993

":# ����)��@��������78�"�#9For S. Ghose & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 302184 E

2*�������*�<=><=�����������6�(Chandan Chattopadhay)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-51254

":# ���"�#9����9��+����(����78�"�#9For K. M. Agarwal & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 0853 N

2)��9����9����A��6(C. P. Mishra)���<�=�� /Partner

)���)�� ���)��9/ Membership No.-073009

":# ������9�)��9���$�����78�"�#9For M. C. Jain & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 304012 E

2��?"�#���"?#������<=����6(Mukesh Ku Patawari)

���<�=�� /Partner)���)�� ���)��9/ Membership No.-056623

�(�����/ Place: ���� ��������/ Kolkata������!���/ Date: 2nd May,2011

��������"# / Directors:

&��� ����������������/ Sh. S Ramaswamy&������������)������ �����/ Smt Sukriti Likhi&���*���� ���+������,��� /Sh. R M Chaturvedi78�B9�-���� ��./�0'�������*!������Dr. Shakeel-Uz-Zaman Ansari&���1��2���������/ Sh. Gour DasA���=uJuëJh fwUbth�"#���(�� / Sh. Deveswar Kumar Kapila78�B9�Jkm; ctcqhtJ�"#�$��(�&���/ Dr. Vasant Baburao KaujalgiA���)�?������*��$��� / Sh. Sudip Chaudhuri

���� ����� ��� �������� ��������� ��� �!������� / As per our report of even date

su. ve. =qyt

�������������� �������������"#J. P. DUA

Chairman & ManagingDirector

Page 81: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

81

��������� � � � � � � � � � � �������� ��"�� 31.03.2011 �������� ��"�� 31.03.2010�� ������� ���� �� ������� ����

Particulars Schedule Year Ended 31.03.2011 Year Ended 31.03.2010(� in thousand) (� in thousand)

���� / INCOME

�C�� �� ����� /Interest earned 13 110,146,917 83,692,002��������� /Other income 14 13,704,127 15,159,023����� /Total 123,851,044 98,851,025

II ����� /EXPENDITURE�������"#����&����� ����� /Interest expended 15 69,922,242 57,187,209���*��(��������� /Operating expenses 16 23,383,021 16,178,316�������������$���"#,)��"#�������/Provisions & contingencies 16,314,730 13,422,229����� /Total 109,619,993 86,787,754

III �����(���(���� / Net Profit 14,231,051 12,063,271�+����� ������� /Balance brought forward 1,251,984 960,926����� /Total 15,483,035 13,024,197

IV ����!�������!� / APPROPRIATIONS)���������"#�������� �������"#����� �/� / Transfer to Statutory Reserve 3,600,000 3,050,000���)���������� ��fUtu��� �/� /Transfer to Revenue Reserve 4,000,000 5,500,000������� ���������-yàg "#����� �/��/ Transfer to Capital Reserve - Others NIL 97,821���������Œ����� ��fUtu yk;hK(ytgfUh yr"rlgb, 1961 "#������ 36 (I)(viii) fuU ylwmth)��;����)��Œ����� ��"#��/mu yk;hK�/Transfer to Special Reserve (in terms ofSec 36(I)(viii) of I.T. Act 1961) 3,560,000 250,000��;����)��Œ����� ��"#��/mu yk;hK�/ Transfer to / from IRS Reserve -61,803 NIL��) ����� ��(���������/ Proposed Dividend 2,857,293 2,456,850(������������"# / Tax on Dividends 463,524 417,542 �?(������D����%��+�u��� � ����� /Balance carried over to Balance Sheet 1,064,021 1,251,984����� / Total 15,483,035 13,024,197

bnÀJvqKo ÖtuFt ler;gtâ/Significant Accouning Policies 17(��4�������<=���/��1Notes on Accounts 18Œr; Nugh ysol 2EF96/Earnigs per share (Rs.)%-�����������*!�������� ���34$�56�0���27�/(Face value of share Rs.10/-)

Basic 31.85 27.01Diluted 31.85 27.01

W¥vh mk=rCo; ylwmqragtâ (��Fu�fUt yrCàl ykd n!iThe schedules referred to above form an integral part of the accounts

� � � � � � � � � � � � � � � � � � � � � � A L L A H A B A D B A N K

� � � � � � � � � � � � � � � � � � % � � � � � � � � � � ( � ) � � � � % � � � � � � � � * � �YJk����+�����%,��Profit and Loss Account for the year ended 31st March, 2011

Y. ce. CÕtatgo

��-.��� ����"#�2���3�������(��4��������)���5#���6A. B. BhattacharjeeGeneral Manager

(Finance & Accountsand CFO)

78�9�)�"#�"#�������(�"#���������"#

(D. SARKAR)Executive Director

���9���9������"#"#�������(�"#���������"#(M. R. NAYAK)

Executive Director

�)�9��(�9���$��)�-.���"#���-.��� ����"#�2���3�������(��4��6

(S. L. JAIN)Assistant General Manager

(Finance & Accounts)

":# ������������������������������ !"#��!�$/For Sudit K Parekh & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 110512 W

%&����������'� �� ) (Srikant Jilla)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-39461

":# �����������78��)����)��<>=)�For P A & Associates

)�������(��4��"#� / Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No:313085 E

2���(�����"?#�����+����(�6(Dillip Kumar Agarwalla)

���<�=�� /Partner)���)�� ���)��9/ Membership No.-55420

":# ������9���9�������/����78�"�#9For M. R. Narain & Co.

)�������(��4��"#� / Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 002330 S

�2���9����9�����"#<=�����6�(M N Venkatesan)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-22993

":# ����)��@��������78�"�#9For S. Ghose & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 302184 E

2*�������*�<=><=�����������6�(Chandan Chattopadhay)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-51254

":# ���"�#9����9��+����(����78�"�#9For K. M. Agarwal & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 0853 N

2)��9����9����A��6(C. P. Mishra)���<�=�� /Partner

)���)�� ���)��9/ Membership No.-073009

":# ������9�)��9���$�����78�"�#9For M. C. Jain & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 304012 E

2��?"�#���"?#������<=����6(Mukesh Ku Patawari)

���<�=�� /Partner)���)�� ���)��9/ Membership No.-056623

�(�����/ Place: ���� ��������/ Kolkata������!���/ Date: 2nd May,2011

��������"# / Directors:

&��� ����������������/ Sh. S Ramaswamy&������������)������ �����/ Smt Sukriti Likhi&���*���� ���+������,��� /Sh. R M Chaturvedi78�B9�-���� ��./�0'�������*!������Dr. Shakeel-Uz-Zaman Ansari&���1��2���������/ Sh. Gour DasA���=uJuëJh fwUbth�"#���(�� / Sh. Deveswar Kumar Kapila78�B9�Jkm; ctcqhtJ�"#�$��(�&���/ Dr. Vasant Baburao KaujalgiA���)�?������*��$��� / Sh. Sudip Chaudhuri

���� ����� ��� �������� ��������� ��� �!������� / As per our report of even date

su. ve. =qyt

�������������� �������������"#J. P. DUA

Chairman & ManagingDirector

Page 82: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

82

+ ( � ( � # $ - � / Particulars 2010-11 2009-10

� � + # $ � � � � � � � � . � + � � + ( � + / � & � � 0 � � � % � � � � � � 1 � ( � � � �

Cash Flow from Opreting Activities

��8����������2������*�9����:;�������<�����:�*���������=������>���'�

Interest received during the year from advances,

Investments etc. 110,146,917 83,692,002

*����*��� / Other Income 13,659,647 123,806,564 15,112,202 98,804,204

?���� ! /Less:

��8����������2������'��������-����:������=���@��>���'�

Interest paid during the year on Deposit 64,983,235 53,424,137

=����<����� ��!�*���A��������*�:��������������+�� ���������

Operating Expenses including

Provisions & Contingencies 39,697,750 104,680,985 29,600,545 83,024,682

'���B:#C / Add:

A�(����*�A������:�������� ��D����Depreciation on Fixed Assets 663,897 626,962

��$ �����+�� ����:�������)�'����������� ��E�

%�����+�� ���1����*�A������:�*�2�����������*�:���:�����������������������7

a. Cash Profit generated from operations

(prior to changes in operating assets and liabilities) 19,789,476 16,406,484

��$ ��������*�:���:���)�F��%�����7�C

b. Increase (Decrease) in Liabilities

'��������-����! / Deposit 258,314,063 210,839,654

*������������ !� ��!�=����<���� / Other Liabilities & Provisions 4,718,039 3,097,106263,032,102 213,936,760

1�$�*�A������:���:������ %��)�F�7�C

c. Decrease (Increase) in Assets:

*�9����/ Advances -220,200,166 -128,031,084

������<���� / Investments -48,184,404 -87,775,742

*����*�A������! / Other Assets -8,595,688 -276,980,258 694,617 -215,112,209

� 2 � � � � + # $ � � � � � � � . � � � � . � + � � + ( � + / � & � � 0 � � � % � + � � ( � � � � � � � � � 1 � ( � � � � � 3 � +,�+. � 4

A. Net Cash Flow from Operating activities (a+b+c) 5,841,320 15,231,035

+ � � ( � % 5 � � . � + � � + ( � + / � & � � 0 � � � % � � � � � � 1 � ( � � � �

Cash Flow from Investing Activities

A�(����*�A������:��������G��������������

Sale/disposal of fixed assets 12,748 7,870

A�(����*�A������:�����G��� /

Purchase of fixed assets -976,183 -720,060

� � � � � � � � � � � � � � � � � � � � � � A L L A H A B A D B A N K

��� �� 1�(����� +(�(�#$-�G��#�Cash Flow Statement

�� nsth$ ����(� in thousand)

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83

+ ( � ( � # $ - � / Particulars 2010-11 2009-10

, � + � � ( � % 5 � � . � + � � + ( � + / � & � � 0 � � � % � + � � ( � � � � � � � � � 1 � ( � � � �B. Net Cash Flow from Investing Activities -963,435 -712,190+ ( � 6 � � � � % ) � - � � . � + � � + ( � + / � & � � 0 � � � % � � � � � � 1 � ( � � � �Cash Flow form Financing activities.<���� / Borrowings 14,827,023 4,865,384.<����������Œ=út >���'� / Interest Paid on Borrowings -4,939,008 -3,763,072 ��E��!-��%������������7 / Dividends (including tax) -2,874,392 -1,306,542E����������������������'������-��������Issue of Shares to Govt of India 6,700,000 NIL��������II�>��!"#�fUt rldob YJk curbgt=e }UãtIssue of Tier II Bonds & Perpetual Debt 0 11,000,000

1�it��HI������-�tu<����/ Redemption of Sub Debt 0 NIL

. � + ( � 6 � � � � % ) � - � � . � + � � + ( � + / � & � � 0 � � � % � � � 7 + ! � � � � � + � � ( � � � � � � � �C. Net cash generated from Financing Activities 13,713,623 10,795,770( � ) � � � � % � � " # $ � � � � � � � � � � � � � � 1 � ( � � � � �(fU+F+d)Total Cash Flow during the year (A+B+C) 18,591,508 25,314,615

8 � ( � ) � � � � % � � � # $ * � � � � 0 � � � � � � � � " # $ � � � � � � � � � � � � � � & �D. Cash & Cash equivalent at the beginning of the year

E�������������/�����>�J�������vtm�����������(���*���-��8�Cash & Balances with RBI 71,837,784 51,153,786

�>�2!����!����!�*���-��8��*�2���b�!1����(���* �����+����������������<���Balances with Banks and Money at Call and Short Notice 19,844,466 15,213,849

� � � � / Total 91,682,250 66,367,635

9 : ( � ) � � � � % � � � � � � � 0 � � � � � � � � " # $ � � � � � � � � � � � � � � & �E. Cash and cash equivalent at the end of the year

E�������������/�����>�J�������vtm���������*�2���*���-��8�Cash and Balances with RBI 79,009,281 71,837,784

>�J���:���:�*���-��8��*�2������!1����(���* �����+����������������<���Balances with Banks and Money at Call and Short Notice 31,264,477 19,844,466

��� � / Total 110,273,758 91,682,250

( � ) � � � � % � � " # $ � � � � � � � � � � � � � � 1 � ( � � � � � 3 9 : � 8 � 4 /

Total Cash Flow during the year (E-D) 18,591,508 25,314,615

� � � � � 1 � ( � � � � � + ( � ( � # $ - �G��#�� 3 ! � � # $ � 2 2 2 4 / Cash Flow Statement (Contd.…)

Y. ce. CÕtatgo

��-.��� ����"#�2���3�������(��4��������)���5#���6A. B. BhattacharjeeGeneral Manager

(Finance & Accountsand CFO)

78�9�)�"#�"#�������(�"#���������"#

(D. SARKAR)Executive Director

���9���9������"#"#�������(�"#���������"#(M. R. NAYAK)

Executive Director

�)�9��(�9���$��)�-.���"#���-.��� ����"#�2���3�������(��4��6

(S. L. JAIN)Assistant General Manager

(Finance & Accounts)

":# ������������������������������ !"#��!�$/For Sudit K Parekh & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 110512 W

%&����������'� �� ) (Srikant Jilla)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-39461

":# �����������78��)����)��<>=)�For P A & Associates

)�������(��4��"#� / Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No:313085 E

���(�����"?#�����+����(�(Dillip Kumar Agarwalla)

���<�=�� /Partner)���)�� ���)��9/ Membership No.-55420

":# ������9���9�������/����78�"�#9For M. R. Narain & Co.

)�������(��4��"#� / Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 002330 S

�2���9����9�����"#<=�����6�(M N Venkatesan)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-22993

":# ����)��@��������78�"�#9For S. Ghose & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 302184 E

2*�������*�<=><=�����������6�(Chandan Chattopadhay)���<�=�� / Partner

)���)�� ���)��9/ Membership No.-51254

":# ���"�#9����9��+����(����78�"�#9For K. M. Agarwal & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 0853 N

)��9����9����A��(C. P. Mishra)���<�=�� /Partner

)���)�� ���)��9/ Membership No.-073009

":# ������9�)��9���$�����78�"�#9For M. C. Jain & Co.

)�������(��4��"#� /Chartered Accountants��;�)�����;�����9�)��9/ICAI Regd No: 304012 E

��?"�#���"?#������<=����(Mukesh Ku Patawari)

���<�=�� /Partner)���)�� ���)��9/ Membership No.-056623

�(�����/ Place: ���� ��������/ Kolkata������!���/ Date: 2nd May,2011

��������"# / Directors:

&��� ����������������/ Sh. S Ramaswamy&������������)������ �����/ Smt Sukriti Likhi&���*���� ���+������,��� /Sh. R M Chaturvedi78�B9�-���� ��./�0'�������*!������Dr. Shakeel-Uz-Zaman Ansari&���1��2���������/ Sh. Gour DasA���=uJuëJh fwUbth�"#���(�� / Sh. Deveswar Kumar Kapila78�B9�Jkm; ctcqhtJ�"#�$��(�&���/ Dr. Vasant Baburao KaujalgiA���)�?������*��$��� / Sh. Sudip Chaudhuri

���� ����� ��� �������� ��������� ��� �!������� / As per our report of even date

su. ve. =qyt

�������������� �������������"#J. P. DUA

Chairman & ManagingDirector

�� nsth $ ����(� in thousand)

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84

��������� As on ��������� As on31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

� � � � � � � � � � � � � � � � � � ; ! � �SCHEDULE - 1 CAPITAL

1 � � + / � � 7 � � � � � � ; ! � � /AUTHORISED CAPITAL 30,000,000 30,000,000

1 � � & � % � � < = � � � > � � � % � � � � � � � � � � � � � � � � � + ? ( � @ A � � 5 � % & � # $

3,00,00,00,000 equity shares of Rs. 10/- each

+ � � . � � + � � � � � � � + * � 6 � � ' ( � � 1 � 6 � � � � � ! � �ISSUED, SUBSCRIBED & PAID UP CAPITAL

fuUàŠ mhfUth Åtht "trh; ŒÀgufU h¥. 56�0

fuU KL;MK;5;N;O5P�QAR������-������%���ST �����8���KO;ML;66;666727,62,1,5,418 Equity Shares of Rs.10/- each 2,762,154 2,467,000held by Central Government

sl;t YJk yàg Åtht "trh;�ŒÀgufU�34$�56�0�fu

20,00,00,000 QAR������-�����

20,00,00,000�Equity Shares of Rs.10/- each 2,000,000 2,000,000held by Public & Others

������ >Total : 4,762,154 4,467,000

� � � � � � � � � � � � � � � 1 � � # $ + B � + � � & � � � � � " # $ � � + / � 5 � % ) �SCHEDULE - 2 RESERVES & SURPLUS

I. )���������"#�������� ������/ Statutory Reserves

i) �'������ / Opening Balance 16,273,871 13,223,871

ii) ������"�#����$�������������� / Additions during the year 3,600,000 3,050,000

����� / Total : 19,873,871 16,273,871

II. ���'���������� ����� / Capital Reserves

A) ��?������(����"#���������� ����� / Revaluation Reserves

i) �'������ / Opening Balance 8,686,888 8,733,709

ii) ������"�#����$��������������/Addition during the year NIL NIL

iii) ������"�#����$����"#<=�$ ���/Deduction during the year NIL NIL

iv) (����������-.�����(��4�����%��� �/� /Transfer to Profit & Loss Account (44,480) (46,821)����� /Total : 8,642,408 8,686,888

B) �)'����,) ����� / Reserve out of sale of Fixed Assets

i) �'������ / Opening Balance 103,251 103,251

ii) ������"�#����$��������������� / Addition during the year NIL NIL

iii) ������"�#����$����"#<=�$ ���/ Deduction during the year NIL NIL

"?#(� /Total : 103,251 103,251

C) ���� / Others

i) �'������ / Opening Balance 3,409,453 3,311,632

ii) (����������-.�����4�� ���)����� �/� /Transfer from Profit & Loss Account NIL 97,821

iii) ������"�#����$����"#<=�$ ���/ Deduction during the year

"?#(� / Total : 3,409,453 3,409,453

����� / Total (A+B+C) 12,155,112 12,199,592

�!����%&�� SCHEDULE

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85

III. ���'����� ��!�*����=�����U������!��/ Revenue & Other Reserves

i) *(�-��8��/ Opening Balance 25,032,478 19,532,478

ii) ��8����������2�������������<�����/ Addition during the year 4,000,000 5,500,000

iii) ������"�#����$����"#<=�$ ���/ Deduction during the year NIL NIL

� � � � �/ Total : 29,032,478 25,032,478

IV. ���-��8��=�����U�������!�/ Special Reserve

i) *(�-��8��/ Opening Balance 1,150,000 900,000

ii) ��8����������2�������������<�����/ Additions during the year 3,560,000 250,000

iii) ������"�#����$����"#<=�$ ���/ Deduction during the year

� � � � �/ Total 4,710,000 1,150,000

V. ������-������V����������������=�����U�����/Foreign Currency Translation Reserve

i) *(�-��8��/ Opening Balance (126,265) 5,765

ii) ��8����������2�������������<�����/Additon during the year NIL NIL

iii) Deduction/Adj. during the year (21,413) (132,031)

� � � � �/ Total: (147,678) (126,266)

VI. *�Q��*���� ���=�����U���� / I R S RESERVE

i) *(�-��8��/ Opening Balance 80,865 80,865

ii) ��8����������2�������������<������ Additions during the year NIL NIL

iii) ��8����������2�����������2�����������������'���/Deduction during the year (61,802) NIL

� � � � �/ Total : 19,063 80,865

VII. -�������=����������/ Share Premium

i) *(�-��8��/ Opening Balance 7,200,000 7,200,000

ii) ��8����������2������v�����<�����/ Additions during the year 6,404,846 NIL

iii) ������"�#����$����"#<=�$ ���/ Deduction during the year

� � � � �/ Total : 13,604,846 7,200,000

VIII. ��E�� ��!������������������!�-��8��/ Balance in Profit & Loss Account 1,064,021 1,251,984

� � � � �/ Total :(I+II+III+IV+V+VI+VII+VIII) 80,311,712 63,062,524

��������� As on ��������� As on 31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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86

� � � � � � � � � � � � � � � + � � B � % � �

SCHEDULE - 3 DEPOSITS

I. ����&���������� / Demand Deposits

i) �!"#����)�� / From Banks 479,031 571,433

ii) �����)�� / From Others 91,081,202 82,584,031

����� / Total : 91,560,233 83,155,464

II. '�&��� '�(�� �!�)���� / Savings Bank Deposits 350,004,265 282,711,836

III. ������������������ / Term Deposits

i) �!"#�� k�)�� / From Banks 8,128,535 9,129,294

ii) �����)�� / From Others 869,178,570 685,560,946

"?#(� /Total : 877,307,105 694,690,240

����� /Total :(I+II+III) 1,318,871,603 1,060,557,540

i) ��� ����%�,)'� �����4����%�"�#��������� /

Deposits of branches in India 1,315,059,908 1,057,736,587

ii) ��� ��"�#� ��-.�,)'� �����4����%�"�#��������� /

Deposits of branches outside India 3,811,695 2,820,953

"?#(� /Total : 1,318,871,603 1,060,557,540

� � � � � � � � � � � C � � � D / � � # $SCHEDULE - 4 BORROWINGS

I. *������ ��� +,���� / Borrowings in India

i) ��� ������������ �!"# / Reserve Bank of India 2,500,000 NIL

ii) ����� �!"# / Other Banks 3,121,641 NIL

iii) �����)��)'��������������"#/� / Other Institutions and Agencies 1,315,113 128,437

IV) &��$/��������������� ������������HI/���(�4� ��/ Subordinated Innovative

Perpetual Debt Instrument. 3,000,000 3,000,000

V) &��$/��HI/�G�����<=���II���������/

Subordinated Debt - Upper Tier II Capital 10,000,000 10,000,000

VI) &��$/��HI/�G�<=���II���������/Subordinated Debt - Tier II Capital 26,119,000 27,119,000

"?#(� /Total : 46,055,754 40,247,437

II. *������ ��� '������ +,���� / Borrowings outside India 23,126,020 14,107,314

����� /Total : (I+II) 69,181,774 54,354,751

�����?�J#�I���$�II���%�)�,����(� ����� ���� ������Secured borrowings included in I & II above NIL NIL

��������� As on ��������� As on

31.03.2011 31.03.2010�� ������� ���� �� ������� ����

(� in thousand) (� in thousand)

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87

� � � � � � � � � � � E � � � � � & � � % & � � � � ' � ' ( � � 1 � � ( � / � � � �

SCHEDULE - 5 OTHER LIABILITIES AND PROVISIONS

I. )��������� �(� / Bills Payable 3,871,215 3,942,742

II. �� ��"#�����(����)�������������2�����(�6 / inter Office Adjustment (Net) 2,426,895 1,853,914

III. ����*� �� ����� / Interest Accrued 5,459,648 4,107,615

IV. ��)'��&� ��"#������ ���� /Deferred Tax Liabilities 758,635 239,214

V. �����2�����������)��-. �6 / Others (including provisions) 27,219,973 24,406,829

����� / Total : 39,736,366 34,550,314

� � � � � � � � � � � F � � � * � � # $ � � � & � � + # $ G � ( � � � � � � � � � � 0 � � � � � � � � " # $ � � + � � 5 � % ) �SCHEDULE - 6 CASH AND BALANCES WITH RESERVE BANK OF INDIA

I. ��"#K8������ / Cash in hand 3,567,098 3,798,799

2����������"#%)�������<=�)�,- �.6(including foreign currency notes)

II. ��� ������������ �!"#���%��� ������ /

Balances with Reserve Bank of India

G�*��(���4�� �����% / - in Current Account 75,442,183 68,038,984

G������4�� ��%���% / - in Other Accounts NIL NIL

����� / Total : 79,009,281 71,837,783

� � � � � � � � � � � H � � � � � � � � 0 � � � 0 � � + � � 5 � % ) � � � � " # $ � � � � . � � � � I � � � � � � � � � � � � � � � � � � � # $ � % & � � � / � � �

SCHEDULE - 7 BALANCES WITH BANKS AND MONEY AT CALL AND SHORT NOTICEI. *������ ��� / In India

i. �!"#�%���%��� ������ / Balances with Banks

a) *��(���4�� ��%���% / in Current Accounts 2,491,628 3,392,147

b) �����������4�� ��%���% / in Other Deposit Accounts 1,849,666 2,949,650

ii. ����&�� �'����(���)��*������������������ /

Money at Call and Short Notice

a) �!"#�%���% / with Banks 9,422,961 NIL

b) �����)��)'����%���% / with Other Institutions 2,400,000 NIL

����� / Total : ( i + ii ) 16,164,255 6,341,797

II. *������ ��� '������ / Outside India

i. �!"#�%���%��� ������ / Balances with Banks

a) *��(���4�� ��%���% / in Current Accounts 8,232,612 4,298,178

b) �����������4�� ��%���% / in Other Deposit Accounts NIL NIL

ii. ����&�� �'����(���)��*��������=ug����� /

Money at Call and Short Notice

a) �!"#�%���% / With Banks 6,867,610 9,204,491

b) �����)��)'����%���% / With Other Institutions NIL NIL

����� / Total : ( i + ii ) 15,100,222 13,502,669

����� / Total :(I+II) 31,264,477 19,844,466

��������� As on ��������� As on31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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88

����������� J� �� +(�+��/����SCHEDULE - 8 INVESTMENTSI. *������ ��� ����!�,��!� / Investments in India ini. )�"#������ ����� ����� /Government Securities 351,035,281 309,829,425ii. ��������?������� ����� ����� ����� / Other Approved Securities 1,188,444 1,382,736iii. ����� / Shares 4,400,236 4,690,410iv. �78 �%*����$� �������D� / Debentures & Bonds 23,633,139 16,242,940v. ���?����&����%� �'��1�'�����)����?J#����L#���%���%������������

Investments in Subsidiaries and / or 1,172,204 1,172,204 Joint Ventures

vi. �����2���?*�?�(��5�#78M����<=���;�������6 /Others ( Mutual Funds, UTI etc. ) 51,041,339 50,968,524

����� / Total : 432,470,643 384,286,239II. ������ ����!�,��!� / Gross Investments 435,448,420 386,804,276@�<=������������-�. �?������������/ Less: Provision for Depreciation 2,977,777 2,518,037�����(������������� /Net Investments 432,470,643 384,286,239III. *������ ��� '������ ����!�,��!� / Investments Outside India NIL NIL����� / Total (I+III) : 432,470,643 384,286,239����������� K� �� �+L���SCHEDULE - 9 ADVANCES"#/A�i. L#����"#����&����������?�����&���� �(� /

Bills purchased and discounted 40,543,460 21,841,484 ii. ��"#����HI/�M������7N8�O<=���$�����&�������� �)��������HI/��/

Cash credits, Overdrafts andloans repayable on demand 405,139,660 298,053,178

iii. ����������HI/� /Term Loans 490,565,764 396,154,056����� / Total : 936,248,884 716,048,718

4�/B�i. ��� �����,) ����%�P������� ���� �2 �-.��HI/�������+����)��-. �6Secured by tangible assets 776,889,624 575,987,521(includes advances against book debts)

ii. �!"#1)�"#������ ����� ����%�P����)����� �Covered by Bank/Government Guarantees 34,514,447 17,057,949

iii. ���� ���� � / Unsecured 124,844,813 123,003,248"?#(� /Total : 936,248,884 716,048,718

&�/C I. *������ ��� ��-��� / Advances in Indiai. ���'����"# ������D� / Priority Sector 307,637,300 242,793,500ii. )����������"#����D� / Public Sector 147,866,409 91,478,586iii. �!"# / Banks NIL NILiv. ���� /Others 451,715,340 373,320,079"?#(� / Total : 907,219,049 707,592,165

II. *������ ��� '������ ��-��� / Advances outside Indiaa) cikfU mu =ug / Due from Bank 19,791,067 3,736,156b) yàg mu =ug / Due from othersi) L#����"#��&����������?�����&���� �(� /

Bills Purchased & Discounted 699,816 680,390ii) �����������HI� / Syndicated Loan 7,498,680 3,342,096

iii) yàg / Others 1,040,272 697,911

����� / Total : 29,029,835 8,456,553����� / Total : :(CI+CII) 936,248,884 716,048,718

��������� As on ��������� As on31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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� � � � � � � � � � � � � � � � M � I � # $ � � � M � � � & � � ;SCHEDULE - 10 FIXED ASSETS

I. �������� ����!���%�����.����� ��������� ��������� /

Premises (including Revalued Premises)

i. vqJoJ;eo JMo fuU�W5����+��������A�(�����fuU ylwmth� ��1����

�������� ���!����������-������

At cost / Revalued amount as on 31st March 9,983,214 9,968,693

of the preceding year

ii. ������"�#����$������?������(�����"# � / Revalued during the year NIL NIL

iii. ������"�#����$�������������� / Additions during the year 8,147 14,521

9,991,361 9,983,214

iv. ������"�#����$����"#<=�$� ������/ )������������ /

Deductions/ Adjustment during the year NIL NIL

9,991,361 9,983,214

v. �-.�����(���"#��� ��'��"#��� ���(��Q�)�

Depreciation to date on book value 279,866 255,242

9,711,495 9,727,972

vi. ��?������(������ ��'��"#������(��Q�)�

Depreciation to date on revaluation 439,280 394,800

����� / Total 9,272,215 9,333,172

II. �!�� ���� ��������� �/�!�0&��� ��1�� �/�2��&��� ��������

Other Fixed Assets (including Furniture & Fixtures)

i. vqJoJ;eo JMo fuU 31�btao fUe rô:r; fuU ylwmth Öttd; vh

At cost as on 31st March of the preceding year 6,505,701 5,808,033

ii. ������"�#����$�������������� / Additions during the year 968,036 705,538

7,473,737 6,513,571

iii. ������"�#����$����"#<=�$ �� / Deductions during the year 11,717 7,870

7,462,020 6,505,701

iv. &� ��������)���)�� ����� ��)������������ / Adjustment Related to previous year (1,030) NIL

7,460,990 6,505,701

v. � ��'��"#��� ���(��Q�)� / Depreciation to date 5,250,920 4,656,127

����� /Total: 2,210,070 1,849,574

����� / Total :(I+II) 11,482,285 11,182,746

��������� As on ��������� As on31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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� � � � � � � � � � � � � � � � � � & � � ��M���&��;SCHEDULE - 11 OTHER ASSETS

i. �� ��"#�����(����)�������������2�����(�6 /Inter Office Adjustment (Net) NIL NIL

ii. ����*�;�çg��� / Interest Accrued 7,064,690 4,923,149

iii. ��+����RS�����%�)����3��"#1T��� �����"#�<��&�����"#�2�����(�6Tax paid in advance/tax

deducted at source (net) 3,792,894 2,361,894

iv. (��4����)����+��������)<=���� / Stationery and Stamps 97,089 82,787

v. ������%�"#��)�� �?,�<=���%����� ��"#��&�;��&�$G �!"#"#�����,) �����Non-banking assets acquired

in satisfaction of claims NIL 323

vi. yàg (rJrJ" �������� YJk Wak;) /Others (Sundries and Suspense) 11,433,366 6,424,024

����� / Total : 22,388,039 13,792,177

� � � � � � � � � � � � � � � � � � � + � � � � � % & � � � � '

SCHEDULE - 12 CONTINGENT LIABILITIES

I. �!"#�"�#����EFU�������������-%.�HI/��"�#�RS�����%�)���"#����-.V��"#����&�����-$.2����(����������������� ������"#�����&��%�)��-. �6Claims against the bank, not acknowledged

as debts (including disputed Income 26,550,516 9,372,748

Tax demands under appeals)

II. ���� �W�)����3�����������%�"�#��(�������� ��

Liability for partly paid investments 1,600 1,600

III. �"#�������������������������)����������%�"�#�"#�/������� ��

Liability on account of outstanding 399,085,554 370,658,925

forward exchange contracts

IV. )��@�<"#�%�"#������)�������&�;���� ������� �����

Guarantees given on behalf of constituents

(i) ��� ����% / - In India 40,947,122 44,293,428

(ii) ��� ��"�#� ��-. /-Outside India 4,205,493 4,466,326

V. ��� �+�-./�M���:�XY��"#�����$������ ����� ����

Acceptances, endorsements and other obligations 92,736,153 61,628,228

VI ��������%�������"�#��(��� �!"#���"#�)��"#�RS���)��������������-$.

Other items for which the Bank is contingently liable 418,419 386,651

����� / Total : 563,944,857 490,807,906

��������� As on ��������� As on31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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� � � � � � � � � � � � � � � � � N ! � � � � � & � � ! �SCHEDULE 13 - INTEREST EARNED

I) ��+����%1� �(��%���� �����1 �<>=<=� / Interest/discount on advances / bills 82,741,766 63,984,654

II) ���������%�������� / Income on investments 26,702,663 19,447,617

III) ��� ������������ �!"#���%��� ���������$�������� �� �!"#

���������%���� �����

Interest on balances with Reserve Bank of

India and other inter-bank funds 546,852 251,737

IV) ���� / Others 155,636 7,993

����� / Total 110,146,917 83,692,001

� � � � � � � � � � � � C � � � � � & � � � � & �

SCHEDULE 14 - OTHER INCOME

I) "#�������M��������������$���(��(�� /Commission, exchange & brokerage 7,837,422 6,489,377

II) ���������%�"#��� �L#��)������� ��(�����2�����(�6/ Profit on sale of investments(net) 1,614,772 7,633,362

iii) ���������%�"�#���?������(��������(�����2�����(�6�/

Profit on Revaluation of Investment (net) -12,382 -1,867,904

Iv) ������M�������� �'����������,) ����%�"�#����L#������(����

Profit on Sale of Land, Building and Other Assets (net) -50 -5,607

V) �����������(����������%����(�����2�����(�6 / Profit on exchange transactions (net) 730,215 484,825

V) ��� ����%����?����&�������1"�#��������%� �'���1��'�����)����?J#����L#���%�; �������)��(���������; �������"�#�RS�����%��C�� ������

Income earned by way of dividends etc. from Subsidiaries/

companies and / or joint ventures etc. in India. 101,897 135,073

VI) ������������� / Miscellaneous Income 3,432,253 2,289,897

����� / Total 13,704,127 15,159,023

� � � � � � � � � � � � E � � � ( & � & � � + � & � � � . � & � � � � & � � ! �

SCHEDULE 15 - INTEREST EXPENDED

I) ������������%���� ����� / Interest on deposits 64,983,234 53,424,137

II) ��� ������������ �!"#1�� �G �!"#������%���� �����

Interest on RBI/Inter bank borrowings 482,128 397,333

III) ����Z / Others 4,456,880 3,365,739

����� / Total 69,922,242 57,187,209

�������� ��"��/ Year Ended �������� ��"��/ Year Ended 31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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����������� �F� �� ��+#$�������� (&�&�SCHEDULE 16 - OPERATING EXPENSES

I) "#���*������%�"#�����?&� ����� �'������"�#��(�������������

Payments to and provisions for employees 15,576,240 10,113,792

II) ���K8�M�"#������������� / Rent, Taxes and Lighting 2,018,006 1,765,438

III) ��?[�/����$�(��4����)����+�� / Printing and stationery 220,040 207,640

IV) ���\���������$���*�� / Advertisement and publicity 358,247 216,379

V) �!"#�"#��)�����3������������ /Depreciation on Bank’s property 663,897 626,962

VI) ��������"#�%�"#��5#�)�M���3�����$������ /

Directors’ fees, allowances and expenses 11,975 9,838

VII) (��4��������"#�%�"#��5#�)����$������

2���4���(��4��������"#�%�)��-. �6

Auditors’ fees and expenses 179,098 161,429

(including branch auditors)

VIII) ������������ /Law charges 135,818 69,022

IX) 78�"#M� ��M�<�=(��5#���������� / Postages,Telegrams,Telephones etc 244,822 236,265

X) ����� ����$����?��/� / Repairs and maintenance 412,818 243,667

XI) ����� / Insurance 999,084 789,081

XII) ���������� /Other expenditure 2,562,976 1,738,803

����� / Total 23,383,021 16,178,316

�������� ��"��/ Year Ended �������� ��"��/ Year Ended 31.03.2011 31.03.2010

�� ������� ���� �� ������� ����(� in thousand) (� in thousand)

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Schedule 17 - SIGNIFICANT ACCOUNTING POLICIES

1. Basis of Accounting:

(i) The financial statements have been prepared under thehistorical cost convention and accrual basis of accounting,unless otherwise stated and are in conformity with the statutoryprovisions and generally accepted accounting principles.

(ii) The financial statements also conform to the guidelinesissued by the Reserve Bank of India (RBI) from time to time inrespect of income recognition, asset classification, provisioningand other related matters. Accounting Standard andpronouncements issued by the Institute of CharteredAccountants of India and accounting practices prevalent inthe banking industry in India.

2. Transactions involving Foreign Exchange:

2.1 Branches / Offices outside India

(i) Foreign Branches are classified as “Non-integral ForeignOperations” and their financial statements are translated asfollows:

a) Both monetary and non-monetary Assets and Liabilitiesas well as Contingent Liabilities at the closing spot rates notifiedby the Foreign Exchange Dealers Association of India (FEDAI)at the end of each quarter.

b) Revenue items are translated at the quarterly averageclosing rate notified by FEDAI at the end of respective quarter.

c) All resulting exchange difference is accumulated in aseparate account ‘Foreign Currency Translation Reserve’.

(ii) Operations of representative offices abroad are classifiedas “Integral Foreign Operations” and their financial statementsare accounted for as follows:

a) All monetary Assets and Liabilities, Guarantees,Acceptances, Endorsements and other obligations aretranslated to Indian rupee equivalent at the spot exchangerates prevailing at the end of each quarter as per FEDAIguidelines.b) Non-monetary items are translated at exchange rateprevailing on the date of transaction.

c) Revenue items are accounted for at the exchange ratesprevailing on the date of transaction.

d) All resulting exchange differences are accounted for inProfit & Loss Account.

(iii) Advances are classified under categories in line with thoseof Indian Offices. Provisions in respect of advances are madeas per the local law requirements or as per the norms of RBI,whichever is higher.

2.2 Branches in India

(i) Foreign currency balances whether of assets or liabilities[including deposits mobilized under FCNR Scheme, EEFCScheme, RFC Scheme etc.] and outstanding forward exchangecontracts are converted at quarter end rates as advised byForeign Exchange Dealers’ Association of India (FEDAI).

The resultant profit/loss on revaluation of forward exchangecontracts and NOSTRO accounts is taken to revenue as perFEDAI guidelines.

����������� ����������������������������

�� �������������� !"(i) ��������� �������tü fUtu�� ������������������������� ���������������������

����������������������������� ��������!������"�������������#�������"���$����"�����%� ���� #��&�������'� #��������(� � ������� �#�)*�����%� � ���� ���+,-��.���������������/�0

(ii) ���������������������� ���������������������� ������������������������ �������

������� �� �!������ "����#���������� ��$��� ����� ��%��%�#���� ���&����'� (�

��)���*��)����(����������+� �+�)�� ��,�-�!����,.��-��'��/�����012(�� ���3�45� �������

����,���6�/7��������%�$���������������6�/7���)�������+��%�8,�9:��/&�������$��� ����

�/����;%���% ��8<�/ ��)�/%�"�=��6����6�/7���(�>����5

#����$�%&����'%���()�(�������$�%��"

#��*�� !�����)���� !&�������+,������������+������"

i) ���,/�-���-��7����'����/�‘���?��*@%AB�C�6��D��?/�����?(�/-����’��/��12(��)�'��� �!�E���������� �����3;4���$���8���/�������������������'����/����)�����0����"�,�F-���������� �����3;4�"

���� )��;�G����+��%� �;*)��;�G�����������+��%�,/������+����$���������)����,/������+��D��?/��

+H��=�'���IJ�6�����+���/���+-������?D��@%�IJ�����D/�IJ�@��������"����/������)��34�����

��)���(���(��,��������/����6����%���)���(��?AB�,��'�(�5

�7�� �������)�,'��D/�IJ�@���������%��%�#�������)��34��������)���(���(����#���K�=�������)��34���;������%���)��,��(����%(����F����������������3�45

� �� �� ���(�����)���������)�����%������/�+����6� ��7����/�‘���,/�-���)�0G���ALB�%��6�/-���

�M����’�)�'�7����������3;45

(ii) ���,/�-����$����"��������#���������6����'��/��(��=��6����'����/�‘@%AB�C�6��D��?/�����?(�/-���’�/��12(��)�'��� �!�E����������� �����3;4���$���8���/�������������������'����� ���������)�����0���������������3�4�N

���� �� ���)��;�G�����������+��%�,/������+��� ��%�AB�����������E����������(��%�������$�������"������>����+��D/�IJ�@���/���,�-�����,.�-����0����"����/������)��34���/���%���)�'�"�=��6����(��?AB�������)����,��'�(�� ��������OP(���/�)�'���������������3;45

�7�� �;*)��;�G����)�,'��6�/��,/������������$��(��"�=��6����������)����,��(���������������3�45

� �� �������)�,��'����� �������6�/��,/������������$��(��"�=��6����������)����,��(������������3;45

�:�� �� ���(�����)�����������)���%���'����/�6�� �*34�����7����/�)�'��6����� �����3;45

(iii) ��C�)��'����/� ���������������6����'�)�'�"�=��6����Q�/������'��/���%�� ������� �!�E����������

���+ ��5� ��C�)��'� �/�� ��%��%#�� )�'� "����#����� �$�������� ����#�� �(�/R����'� �$����

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#�#*�� !����+&�������+������

(i) ���,/�-���)�0G���-�/&�� �6�/�34����������$�����,/������+��34�'��+D����+��������/������

@�@�+D��������/���������+D��������/������@�����,���/���%�� �������%C�34����� �@����)����-����'

���34������;���������������,���������)������%���,����'����/���&����/���%���)�'� �����������,/�-��

)�0G�������(������%:���D/�IJ�@����������$����K�=����,��'�(����%(����F���������������+ ��5

D/�IJ�@���/���,�-�����,.�-����0���������,���������)���������/��(�K��)�K�6�������/���������6�� �S

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94

(ii) Income and Expenditure items relating to foreign currencyare converted using the exchange rate prevailing as on thedate of transaction.

(iii) Acceptances, endorsements and other obligationsincluding guarantees are stated at FEDAI advised ratesprevailing at the end of each quarter.

3. Investments:

(i) Investments are classified in accordance with RBIguidelines under three categories viz. “Held to Maturity”, “Heldfor Trading” and “Available for Sale”.

(ii) The disclosures of Investments are further classified intothe following six groups :

a) Government Securities,

b) Other Approved Securities,

c) Shares,

d) Debentures & Bonds,

e) Subsidiaries/ Joint Ventures and

f) Others

(iii) a) Investments that the Bank intends to hold till maturityare classified as Held to Maturity.

b) Investments that are held principally for resale within 90days from the date of purchase are classified as Held forTrading.

c) Investments, which are not classified in the above twocategories, are classified as Available for sale.

d) An investment is classified as Held to Maturity, Held forTrading or Available for sale at the time of its purchase andsubsequent shifting amongst categories is done in conformitywith regulatory guidelines.

e) Investments in subsidiaries, joint ventures and associatesare classified as Held to Maturity.

(iv) Investments classified as ‘Held to Maturity’ (other than inRegional Rural Banks) are carried at acquisition cost. In casethe acquisition cost is higher than the face value, the excessis amortized over the period remaining to maturity and provisionis made for:

a) Depreciation in the value of debentures / bonds which aredeemed to be in the nature of advances by applying the RBIprudential norms of asset classification and provisioningapplicable to advances.

b) Diminution, other than temporary, in the value ofinvestments in subsidiaries / joint ventures.

(v) Investments classified as “Held for Trading” are revaluedscrip-wise at monthly interval and resultant net depreciation isrecognized and net appreciation, if any, is ignored under eachclassification. The book value of the individual scrip is notchanged with the revaluation as indicated above.

(vi) Investments classified as “Available for Sale” are markedto market scrip-wise at quarterly intervals and resultant netdepreciation is recognized and net appreciation, if any, isignored under each classification. The book value of theindividual scrip is not changed with the revaluation as indicatedabove.

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95

(vii) Investments in Regional Rural Banks are valued atcarrying cost.

(viii) In respect of non-performing securities (where interest/principal is in arrears for more than 90 days) income is notrecognized and appropriate provision is made for depreciationin the value of the securities by applying prudential norms ofasset classification and such depreciation is not set-off againstthe appreciation in respect of other performing securities.

(ix) Cost of acquisition of investments:

� is net of incentives/commission and front-end feesreceived in case of securities subscribed, and

� excludes commission, brokerage, securities transactiontax and stamp duty.

(x) Profit/loss on sale of investments is recognized in the Profitand Loss Account. An amount equivalent to the profit on saleof investments under “Held to Maturity” category is first takento the Profit and Loss Account and thereafter, appropriated tothe “Capital Reserve Account”.

(xi) For the purpose of determining market value ofinvestments, Stock exchange quotations or rates put up byFIMMDA/PDAI are adopted. In absence of such quotations/rates, the market value is determined by applying appropriateYield to Maturity rates as prescribed by FIMMDA / PDAI or asper norms laid down by the Reserve Bank of India.

(xii) As per RBI guidelines, the different categories of Swapsare valued as under:

g) Hedge Swaps

Interest rate swaps which hedges interest bearing assets orliabilities are accounted for on accrual basis except the Swapsdesignated with an assets or liability that is carried at marketvalue or lower of cost or market value in the financialstatements.

Gains or Losses on the termination of Swaps are recognizedover the shorter of the remaining contractual life of the Swapor the remaining life of the assets / liabilities.

h) Trading Swaps

Trading Swap transactions are marked to market with changesrecorded in the financial statements.

4. Advances:

(i) Advances are classified as performing and non-performing as per guidelines prescribed by RBI and areshown net of provisions for non-performing advances.

(ii) The provision made for standard advances (performing)in terms of RBI guidelines is however included in “OtherLiabilities and Provisions”.

5. Fixed Assets and Depreciation:

(i) Premises including Freehold and other Fixed Assets arestated at historical cost except certain premises, whichare stated at their revalued amount.

(ii) Capital expenditure incurred during construction periodis included under ‘Other Assets’.

(iii) Depreciation is provided on diminishing balance methodat the rates and the manner prescribed in Schedule XIV

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96

of the Companies Act, 1956 except that in respect ofALPMs and Computers, where depreciation is providedon straight line method @ 33.33% as per guidelines ofReserve Bank of India.

(iv) In respect of revalued assets, the amount of additionaldepreciation consequent to revaluation is transferred fromRevaluation Reserve to the Profit & Loss Account.

(v) Premium on leasehold land is amortized over the periodof the lease.

(vi) Depreciation on Fixed Assets of foreign branches isprovided as per the applicable laws prevalent in thatcountry.

6. Intangible Assets (Computer Software)

(i) Software for a computer that cannot operate without thatspecific software is an integral part of related hardwareand is treated as fixed assets. Where the software is notan integral part of the related hardware, computer softwareis recognised as an Intangible Asset.

(ii) Computer software acquired from vendors is recognisedas Intangible Asset only if the value /cost of the softwareis more than Rs.10 Lakhs. Such intangible assets areamortised over its effective life subject to a maximumperiod of ten years.

7. Employee Benefits:

(i) The Bank has applied Accounting Standard 15(Revised)- Employees Benefits, issued by the Institute of CharteredAccountants of India, for recognition of its liabilities inrespect of employee benefits.

(ii) Liability towards long term defined employee benefits isdetermined based on actuarial valuation by independentactuaries at the year-end by using Projected Unit Creditmethod as per policies mentioned herein below:

a. Gratuity:

The Bank pays gratuity in case of retirement or death orresignation or termination etc. of its employees, having regardto the provisions of Payment of gratuity Act, 1972 / ServiceAwards / Service Regulations, as the case may be. A fundcreated out of Bank’s contribution is maintained by an in-houseTrust for payment of gratuity. The Bank makes contribution tothis fund on the basis of actuarial valuation of its liability.

b. Pension (ABRPR):

The Bank pays pension under Allahabad Bank (Employees)Pension Regulations, 1995(ABEPR) to employees, whoexercised option under the Regulations and also to Employeesjoining the Bank’ Service during the period from 29/09/1995 to31.03.2010. The plan provides for a pension / family pensionon monthly basis in respect of these employees on theirretirement / death, as the case may be, based on the salaryand qualifying service of the respective employees. Employeescovered under ABEPR – 1995 are not eligible for Bank’scontribution to Provident Fund. A fund created out of Bank’scontribution is maintained by an in-house Trust for payment ofPension. The bank makes contributions to this Fund on thebasis of actuarial valuation of its liability in respect of Pension,which is conducted by approved Actuary .

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�� ��1�0�>#������ �����&�%�����������/���(����#������������"�������#�����������D���C&�D���+�� �/#��� 2��� &��&��������������� �#������ &�%�>�����&�(!������%������ &���#�����"��� ��� ��ü8���� 3�*���� ���� $����"����� �/���0� .��>(�����:5@@6�����������(��8���&������&�(!����2����<�������"��&�%�.�1���������8�3*�����������=������I��1�0���%8�������2�+�������������+�.�1���������8�3*����#���#�D� ��������"�����������������������E�#���4*���������� �������/�0�.�1���>#������"��&�%����������8�3*������%8�������#��.��"��&�%��������3�*����������.��&���������&�;������������"�������������/�� ������#������+&����3*���.��&���������4*���������� �������/�0

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97

c. Leave Fare Concession (LFC):

This facility is granted to the employees and extends toreimbursement of travelling expenses incurred for the familymembers of the employee concerned, as defined under theScheme, in terms of service rules as amended from time totime as per Industry wide Settlements / Awards. It is a non-funded scheme and the Bank maintains a provision on accountof it s liability in respect of Leave Fare Concession under theScheme on the basis of actuarial valuation, which is conductedby approved Actuary. Payment in respect of LFC facility ismade through the Profit and Loss Account.

d. Leave Encashment:

The Bank permits encashment of Privilege Leave balance toit employees availing LFC facility, up to the maximum limit of30 days’ leave in a block of four years of service. Encashmentof privilege leave standing to the credit of an employee is alsopermitted in case of retirement or death subject to a maximumof 240 days. In case of resignation from the service by anemployee, such encashment is restricted to 50% of the balanceof privilege leave subject to a maximum of 120 days. It is anon-funded scheme and the Bank maintains a provision onaccount of its leave encashment liability under the Schemeon the basis of actuarial valuation, which is conducted byapproved Actuary . Payment of such leave encashment ismade through the Profit and Loss Account.

e. Sick Leave:

The Bank maintains a provision for its liability on account ofany contingency arising out of employees going on sick leaveon medical ground, which is permissible in terms of prevailingservice conditions / rules. It is a non-funded scheme and theBank maintains the provision on the basis of actuarial valuation,which is conducted by approved Actuary..

(iii) In respect of Provident Fund, the contribution for the periodis recognized as expense and charged to Profit & Lossaccount.

(iv) In terms of Industry wide Settlement/Joint Note dated27.04.2010, employees joining the services of the Bankon or after 01.04.2010 are covered by defined contributionretirement benefit scheme.

(v) Short-term employee benefits are recognized as anexpense at an undiscounted amount in the Profit and LossAccount of the year in which the related services arerendered.

8. Recognition of Income and Expenditure:

Income and Expenditure are accounted for on accrual basisother than those stated below:

(i) Interest and Other Income on advances classified as non-performing assets are recognized to the extent realized.

(ii) Income from interest on refund of Income Tax and InterestTax are accounted for in the year the order is passed bythe concerned assessing officer.

9. Lease

Rentals received by the Bank are recognized in the profit andloss account on accrual basis.

Lease payments for assets taken on operating lease arerecognized as an expense in the profit and loss account.

!������"������ #������� #������$� �����%�&�� ����� #�+���"��� ��&�(!������%� ����� $�3*���� ���� ������ �/����/� >#�&�%� �J�������#�&�K��/���%C����L(M��������+#���#�&���:#�&������������#��8����"����#�����������&��%�������+#������� ���������������(�����������2���<�����#��.���"������&�(!������������������#�3*#���%������#��.��"��&�%���� ��� ����=�������������$������;N���8���&�����1�0�������/�����"�������� ������/����/�.�1�������������� ���������������(���������8�������������������3�*����������#��.��"�� &�%� $����"����� .��&���������&�;������������"��� ���������/�0������&�;������$�����������&������&�%����#������+&����3*����.��&���������4*��������� �������/�0� �� O�#���#���#��.���"�����2�+��������.�1����������2�:�������������#���������� �������/�0

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ii) ���������������(�����(�����������/�"��(����������;��������������� ��������%��%�#����������#��������#�������������,/�-����������+������/����6�/���&���)�'�����������3;45

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98

10. Earnings Per Share

Basic and Diluted Earnings per Equity Share are reported inaccordance with the Accounting Standard 20 “Earnings pershare” issued by the Institute of Chartered Accountants ofIndia. Basic earnings per equity share are computed bydividing net income by the weighted average number of equityshares outstanding for the period. Diluted earnings per equityshare are computed using the weighted average number ofequity shares and dilutive potential equity shares outstandingduring the period.

11. Taxation

(i) Provision is made for both current tax (including MinimumAlternative Tax - MAT) and deferred tax. Current tax isprovided on the taxable income using applicable tax rateand tax laws. In compliance with Accounting Standard22 :Accounting for Taxes on Income” issued by theInstitute of Chartered Accountants of India, deferred TaxAssets and Liabilities arising on account of timingdifferences and which are capable of reversal insubsequent periods are recognised using the tax ratesand the tax laws that have been enacted or substantivelyenacted till the date of the Balance Sheet. Deferred TaxAssets are not recognised unless there is “virtualcertainty” that sufficient future taxable income will beavailable against which such deferred tax assets will berealised.

(ii) Minimum Alternative Tax (MAT) credit is recognised asan asset only when and to the extent there is convincingevidence that the company will pay normal income taxduring the period specified under the Income Tax Act1961.

12. Cash and Cash equivalents

Cash and cash equivalent include cash on hand and in ATM’sand balances with RBI.

13. Impairment of Losses (if any) on Fixed Assets (includingrevalued assets) are recognized and charged to Profit & LossAccount in accordance with the Accounting Standard 28“Impaired of Assets” issued by The Institute of CharteredAccountants of India.

14. Contingent Liabilities and Provisions & ContingentAssets

(i) In conformity with AS 29. “Provisions, ContingentLiabilities and contingent Assets”. Issued by the Institute ofChartered Accounts of India, the Bank recognizes provisionsonly when It has a present obligation as a result of a pastevent, it is probable that an outflow of resources embodyingeconomic benefits will be required to settle the obligation,and when a reliable estimate of the amount of the obligationcan be made.

(ii) No provision is recognized for

a) Any possible obligation that arises from past events andthe existence of which will be confirmed only by theoccurrence or non-occurrence of one or more uncertain futureevents not wholly within the control of the Bank; or

b) Any present obligation that arises from past events but isnot recognized because

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99

i) �����#��2����������I��1��������N��������2���������#��#��"����%������.����$�(�����3*������������#�&��"����������+������X������������������

ii) 3*��������������8���������b�#����������+&���������I�������� ���#�����������0� �#���3*��������%�����������#&����3�*�������%�����,-���&�%�3* �(������� �������/�0�>������������&������������������"��(���������� �������/���/�3*���������������������#���2������������ �$����"������������ �������/�� �#�������� ���N��������2���������#��#��"����%�����.����$�(������#��2����������������������#��"���������#��������%������RS��cM��� ������3*�������������8���������b�#����������+&�������������������� ���#������������0

iii) �����������������%�&�%������#&�������#�����%��������2�V���������I��������������/�W���%����>#�����������&�#��,-��� �#��������������2�V���������#��������/��� ������2���2�����#�;��������I� ���#������0

i) It is not probable that an outflow of resources embodyingeconomic benefits will be required to settle the obligation;or

ii) A reliable estimate of the amount of obligation cannot bemade. Such obligations are recorded as contingentLiabilities. These are assessed at regular intervals andonly that part of the obligation for which an outflow ofresources embodying economic benefits is probable, isprovided for, except in the extremely rare circumstanceswhere no reliable estimate can be made.

(iii) Contingent Assets are not recognized in the financialstatements as this may result in the recognition of incomethat never be realized.

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100

SCHEDULE - 18 NOTES ON ACCOUNTS

1.(i) Adequate provision has been made in respect ofPerforming and Non-performing Advances in terms ofReserve Bank of India (RBI) guidelines.

(ii) Prudential Floating Provision of Rs.48.00 Crore (PreviousYear Rs.48.00 Crores) is held as at 31.03.2011 in respectof gross Non-performing Advances over and above theminimum provision prescribed by RBI with a view tostrengthen the financial stability of the Bank.

2. (i) Under Inter-Branch reconciliation, initial matching ofentries has been done upto 31.03.2011. Reconciliationof unmatched entries with the balance in BranchAdjustment account and transactions between HeadOffice and branches including branches inter-se is inprogress. Further, in terms of RBI’s circular, segregationof debit and credit entries in Inter Branch Accountpertaining to the period upto 30.09.2010 and remainingoutstanding as on 31.03.2011 have resulted in net credit,hence no provision is required.

(ii) At some branches, preparation of details / balancing /reconciliation of accounts relating to Balances with Banksand NOSTRO Accounts are in progress. Since substantialprogress has been made in the above areas, themanagement is of the view that the impact ofreconciliation, if any, on the accounts of the Bank will notbe material.

(iii) In terms of RBI directives as contained in theirDBS.CO.SMC.423.22.04.001/97-98 dated March 17,1998, old difference in various Personal & ImpersonalAccount Heads in respect of 330 branches aggregatingnet credit of Rs. 141.39 crores was transferred to HeadOffice during the year 2000 & 2004 and kept in“Coningency Account- General”. The RBI in terms of theirletter no. DBS.CO.SMC.No. 8002/22.04.001/2010-11 ofDecember 09, 2010 have permitted not to report these330 branches as arrear carrying branches to ReserveBank of India in Bank’s quarterly statement on Balancingof Books.

3. The provision for income tax (including deferred tax)aggregating to Rs.1822.95 Crores (previous year Rs.1315.35 Crores) held is considered adequate by the Bankafter taking into consideration various judicial decisionson disputed issues.

4. (i) Certain premises were revalued on the basis of thereports of the approved valuers during the year endedon 31.03.1997, 31.03.2005 and 31.03.2007 and upwardrevision amounting to Rs. 125.99 Crores (commercial andresidential), Rs.370.08 Crores (commercial andresidential) and Rs. 298.32 Crores (commercial)respectively had been credited to Revaluation Reserve.Depreciation on Revalued premises is worked out eachyear on its written down value. Additional depreciation ofRs.4.45 Crores (previous year Rs.4.68 Crores) onaccount of revaluation has been transferred fromRevaluation Reserve Account and shown inMiscellaneous Income under the head “Other Income”included in Schedule No. 14 item (vii).

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101

(ii) Depreciation has been charged on composite cost of Landand Building, where separate cost of land is not available.

(iii) Premium on leasehold land has been amortized over theperiod of lease, based on cost or written down value,where original cost is not available.

(iv) For the following properties registration formalities are yetto be completed:

a. 2 residential properties purchased during the year 1990& 1998 at Kolkata & Bhubaneshwar consisting of 29 &10 flats respectively with total original cost of Rs.0.86Crores (Previous year Rs.0.86 Crores).

b. 1 leasehold property at Anandlok, New Delhi withoriginal cost amounting to Rs. 0.09 Crores (previousyear Rs.0.23 Crores).

(v) Other Assets include intangible Assets, details of whichare as under.

��������� / Particulars ������ �� � / Current Year !�"� �� �#/ Previous Year

������?� / Opening Balance 20.05 12.38

��?� ������'���������:; / Additions during the year 19.19 10.04

��?� ������'�������������%��� / Amortized during the year 3.65 2.37

G�����?� / Closing Balance 35.59 20.05

5. (i) In respect of Investments of face value of Rs.0.44Crore (Previous year Rs.0.44 Crore), the Bank is yetto receive scrips / certificates.

(ii) Total Investments made in shares, convertible deben-tures and units of equity linked mutual fund / venturecapital funds and also advances against shares ag-gregate to Rs. 770.89 Crores (Previous year Rs.849.82 Crores).

(iii) As per RBI guidelines, an amount of Rs NIL Crores(Previous Year Rs.9.78 Crores) being an amountequivalent to post Tax profit on sale of ‘Held to Matu-rity’ category securities is transferred to ‘Capital Re-serve Account’.

(iv) In respect of ‘Held to Maturity’ category as stated insignificant Accounting Policy No. 3 (iii), the excess ofacquisition cost over the face value of the securityamortized during the year amounts to Rs.83.33 Crores(Previous year Rs.112.32 Crores) has been netted offfrom Income on Investment shown under the head“Interest Earned” of Profit and Loss Account in termsof RBI guidelines.

6. The Bank has not made any financing for margin tradingduring the year and also not securitised any assets.

7. During the year, Bank has issued 2,95,15,418 equityshares of Rs. 10/- each at a premium of Rs. 217/- pershare amounting to Rs. 670.00 Crore (approx.) onpreferential allotment basis to Govt. of India (President ofIndia). Out of Rs. 670.00 Crore, Rs. 29.52 Crore (approx.)credited to Share Capital Account and Rs. 640.48 Crore(approx.) to Share Premium A/c.

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102

8.1. '�����(�)*+ *�+ �,-.�����,#��-.��/ *�+ ��������� 0�*+��*+����1 Disclosure in terms of RBI guidelines:

8.1 ���23�1 Capital

��������� ������ �� �# !�"� �� �#Particulars Current Year Previous Year

i) *������P����(%) / CRAR (%) 12.96 13.62

ii) *������P����XEF�����X(��+3���(%) / CRAR – Tier I Capital (%) 8.57 8.12

iii) *������P����XEF�����X((��+3���(%) / CRAR – Tier II Capital (%) 4.39 5.50

iv) �������*������������������%���L����$����������Percentage of the shareholding of theGovernment of India 58.00 55.23

v) ��G ���S;���G ��������������&��"#�&�G �����Amount raised by issue of IPDI ��+���Q NIL 150.00

vi) �����EF�����X((�����������&��"#�&�G �����

Amount raised by issue of Upper Tier II instruments ��+���Q NIL 500.00

8.2.1 ������� �����,-���1 Repo Transactions

�����������3��&� �����B��&�G $�����+�����3/ Securities sold under repos

(i) *���������$�����+�����3/Govt Securities 450.00 4500.00 725.25 0.00

(ii) ������������EFUVL�$�����+�����3

Corporate Debt Securities 0.00 0.00 0.00 0.00

����*� �����������3��&� ��C�������&�G $�����+�����3/Securities purchased under reverse repos

(i) *���������$�����+�����3/Govt. Securities 75.00 2000.00 51.71 0.00

(ii) ������������EFUVL�$�����+�����3/ Corporate Debt Securities 0.00 0.00 0.00 0.00

8.2. ������.�/ Investments

��������� ������ �� �# !�"� �� �#Particulars Current Year Previous Year

(1) ������������!�+2��/ Value of Investments(i) ������������*���2�!�+2�� / Gross Value of Investments

(a) �������!�� / In India 43544.84 38680.43(b) �������*�����"#��/ Outside India ��+���QNIL ��+���QNIL

(ii) ���5���"�#���$����%���� / Provisions for Depreciation(a) �������!�� / In India 297.78 251.80(b) �������*�����"#��/ Outside India, ��+���QNIL ��+���QNIL

(iii) ����������������2�!�+2�� / Net Value of Investments(a) �������!�� / In India 43247.06 38428.63(b) �������*�����"#��/ Outside India, ��+���QNIL ��+���QNIL

(2) ����������������5����������!��%������$����%�������*�3B�2���Movement of provisions held towards depreciation on investments.(i) ������?�/ Opening balance 251.80 430.30(ii) ����:�;N��?� ������'����������&����$����%����/ Add: Provisions made during the year 130.85 0.00(iii) DxtYk& rlJuN fuU yvÖtuFl fuU rÖtY �������&������&����$����%����

Less: Write off/ write back of excess provision during the year 84.87 178.50(iv) G�����?�/ Closing balance 297.78 251.80

��?� ������'����� ��?� ������'����� ��?� ������'����� �����D*����

���+����!��������� �%�����!��������� �'�������'*����������� 31.03.2011Minimum Maximum Daily Average As on

outstanding outstanding outstanding 31.03.2011during the year during the year during the year

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103

8.2.2 !�4��5��5������ ������.� �����#�6+��������� Q Non-SLR Investment Portfolioi) �����3��-./-/10..���������D*����&�'��XP*�P2�������������������������� �����*�3e�EF��/ Issuer composition of Non SLR investments as on 31.03.2011

*�3/ ����������� ����� ������2��*�!��EF WW��2���G����*EF!��EF ��S;WW WW������E�FS;WW WW���2�*E�FS;WW���mebt $�����+���������mebt $�����+���������mebt $�����+���������mebt

No. Issuer Amount Extent of Extent of ‘Below Extent of Extent ofPrivate Investment ‘Unrated’ ‘Unlisted’Placement Grade’ Securities Securities Securities

(1) (2) (3) (4) (5) (6) (7)

(i) ���P*���+/ PSUs 917.01 917.01 0.00 0.00 52.82(ii) ��)����*�3*���P]Q FIs 450.64 450.64 0.00 0.00 31.83(iii) �����Q Banks 193.59 193.59 0.00 0.00 0.00(iv) $��G���EF������������EF

Private Corporate 1473.65 1305.83 0.00 167.82 129.27(v) ����?�3&��*�3*���P3

*�3���A��h!�Subsidiaries / JointVentures 117.22 0.00 0.00 0.00 117.22

(vi) ����QOthers 5123.76 5123.76 102.69 0.00 0.00 7��*�+��1 Sub-total 8275.87 7990.83 102.69 167.82 331.14

!�+2��[�*�"�#��������&����$����%����Provision held towardsDepreciation 297.78 49.93

*�+�� / Total 7978.09

i) �������/ Shares 581.64ii) S;���B���P��3���i�S;/ Debentures and Bonds 2453.25iii) ����?�3&��P��3*�3���A��h!� / Subsidiaries and Joint Ventures 117.22iv) ���� / Others 5123.76

*�+��/Total 8275.87

ii) !�4����� ���,-*+ !�4��5��5������ ������.�1Non performing Non-SLR investments

��������� ������ �� �# !�"� �� �#Particulars Current Year Previous Year

���X���?� / Opening balance 4.04 6.04

��?� ������'�����������%� ��/ Additions during the year since 1st April 0.00 0.00��?� ������'�������!��/ Reductions during the above period 2.00 2.00G��X���?� / Closing balance 2.04 4.04

%���������2�$����%����/ Total provisions held 2.04 4.04

8.3 �89���:�������� 1 Derivatives

8.3.1 6+�;����8#9 ,-�� *+�����1(���3� ,-�� ���4�� / Forward Rate Agreement/ Interest Rate Swap:

��������� ������ �� �# !�"� �� �#Particulars Current Year Previous Year

(i) *��'����������������������2�!�+2�%���QNotional principal of swap agreements 500 500(ii) �&����������������3��&� ��$�����5���������B�����j�������������+����������!��

��a�2���"�#�����*�*��"#��������2��e��EF�Losses which would be incurred if counterparties failed tofulfill their obligations under the agreements ��+���QNIL ��+���QNIL

(iii) *��'��!�����!�2�"#��������������4��������3=>��*�3���b`���Collateral required by the bank upon entering into swaps Banking Banking

(iv) *��'��*��"#��������2��UVL�����C�!�����*�3����k������L�Concentration of credit risk arising from the swaps - -

(v) *��'�����������B���!�+2��/ Fair value of the swap book (56.02) (43.69)

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8.3.2 Exchange Traded Interest Rate Derivatives: NIL8.3.3 Disclosures on risk exposure in derivativesQualitative Disclosure:

Operation in the Treasury Branch of the Bank are segregatedin three functional areas i.e. Front Office, Mid Office and BackOffice, which are provided with trained officer with definedresponsibilities and back up roles.

The Treasury Policy & Derivative policy of the Bank lays downthe type of financial derivatives instruments, scope of usages,approval process as also the limits like the open position limits,deal size limits and stop loss limits besides delegated powerfor trading in the approved instruments. The policy also allowspurchase / sale of call or put options to hedge cross currencyproprietary trading positions and to offer derivative productsto its customer subject to back to back covering by the Bank.

The Front Office takes positions and executes the deals whilethe Mid Office monitors the transactions in the trading bookand deviations of excesses, if any, are brought to the notice ofhigher authorities. The Mid office also measures the financialrisk for transactions on a daily basis through measurementtools such as MTM, VAR, Convexity and modified durations.The figures are reported to Risk Management division, whichappraises the risk profile to the Assets and LiabilityManagement committee. The Back office settles all the dealswith counter parties.

Interest Rate Swaps which hedge interest bearing assets orliabilities are accounted for on accrual basis except the Swapsdesignated with an asset or liability that is carried at marketvalue or lower of cost or market value in the financialstatements. Gain or Losses on the termination of Swaps arerecognised over the shorter of the remaining contractual lifeof the Swap or the remaining life of the assets/liabilities. TradingSwap transactions are marked to market with changesrecorded in the financial statements. The counterparties to thetransactions are Banks and corporate entities and dealsundertaken are within the approved exposure limits only. Theguidelines issued by RBI, FEDAI & FIMMDA from time to timefor recognition of Income, Premium and Discount are followed.

<+���2� ��������� *+������ (���3� ,-��89���:�������� �89���:��������

Sl No Particulars Currency Interest rateDerivatives derivatives

(i) S;���G���EF��<��������2�!�+2������@/ Derivatives (Notional Principal Amount) ��+���QNIL 500.00��@"�#g��&����2�PQ a) For hedging ��+���QNIL 500.00C�@Ef�FgS;&����2�PQ b) For trading ��+���QNIL ��+���QNIL

(ii) btfUoTzE+F!����� ��E�����������<.@/ Marked to Market Positions (1)��@��D*��<+@/ a) Asset (+) ��+���QNIL ��+���QNILC�@Ef�FgS;&����2�PQb) Liability (-) ��+���QNIL (56.02)

(iii) UVL�PK*���������<1@/ Credit Exposure (2) ��+���QNIL ��+���QNIL(iv) ����������!��P��$����������*�3�������������� �����$������<100*PV01@

Likely impact of one percentage change in interest rate (100*PV01)��@"�#g��&�S;���G���EF�����/ a) on hedging derivatives ��+���QNIL 0.27C�@Ef�FgS;&�S;���G���EF������ / b) on trading derivatives ��+���QNIL 0.00

(v) ��?� ������'�����������&����100*PV01 ����%�����!�P��3���+����!�Maximum and Minimum of 100*PV01 observed during the year��@"�#g��&����� / a) on hedging ��+���QNIL 0.27C�@Ef�FgS;&����� / b) on trading ��+���QNIL 0.00

�����=�����"=�*+ 0�*+��*+���� / Quantitative Disclosures

����� 5>�����23� ���� ����8�989 (���3� ,-�� �89���:��u����� ? .���������� �89���:�������� =�/ 3������=� 5>������3��� ��� ��2(�2�@�"� 0�*+��*+����!�����"=�*+ 0�*+��*+���� ?

��������Ef�F��������C��!������B��2������������������ �!���5��H��������Ml3�EF��ia�*�M!�S;;��ia�*�P��3��'����ia�*��������!������A������&����"'#����!�� �������?����)������������� P��3 ��'����� ��+!������� *���� $���5����%�������$�����������&����"�#(

��������Ef�F����������!����)����S;���G���EF��2�C���M�������&������?���5��H�M����!�������$�Z����*�"#��UVL�*��!��P]�����������������������*��!��M��2��������*��!��P��3*EF�i��2��i*�*��!�����*����"#�����!�������2�C�����!�� Ef�FgS;&� "�#��w $������������� �%������ ��bL��� "'#( ����� !�� Z��i*� �����*��$���$��GEF���Ef�FgS;&�����������������������C������Q��Z��"�#������i2����������EF��i��������C������Q��Z��P��3������ ��"#���� ���� �����4����� ��'��E�F ��'������g��&�����%��%����S;���G���EF���������$�����������������������!���"'#(

l3�EF ��ia�*� ����������� 2������ S;�2� ��?������� ������� "'# ������ !�S;��ia�*�Ef�FgS;&������!��2��������������&��������������"'#������&��������A���������"#�����"'# �����*���BB����� $��%������������������������ !�� 2�����������"'#(!�S;��ia�*�!�������������L��������MP!�EF�P!�M���P����M������DK*�EF�P��3��������%���*�!������!��%��!�*���'�������%��������2���������"�#�����)��������C�!� ��� ��� !���� ������� "'#(��]��:;�� ��� ������mEF&� ����C�!� $���3%��������&��������������"'#������D*��P��3��������$���3%���*��*�3��3%��������������� *�!��� ���� ����C�!� $���a��G2� *�����&��� �������� "'#( ��'����ia�*�$�����5�����bEF����*��*�!�*��S;�2��������EF�����������"'#(

��*����D*�����������������������!�����!���,�?EF*��'��M��*����������!�+2��������2��&���*����!���������)����������L�!����������!�+2�����������������"'#M����=>��:;�������������2����D*��������������������������$�����5������������2������������*��'������$����_���+����%��������2��C����j������������"'#(*��'��*�!�����"#���������2����������e��E�F����*��'��������?�*�3�����&�������� ���2���������D*��Q�����������������?������ ���2�*����!�����*����J��������������"'#(2��������������$�����5����bEF���]�����P��3fUthvtuhuxF*�3*���P]"�#�����������������2��S;�2�����!�������PK*���������*��!���������3����"#�"�#(�������n����M$��!���!�P��3S;*����3EF���2�P������������o��� �����Ma��S;�G P��3Pa���G P!�P!�S;�P4�����*�!���X*�!����������������������������������*���L������������"'#(

<�������:;!��@/(��in crore)

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105

=�,��/ ������ �� �# !�"� �� �#Items Current Year Previous Year

(i) ����2�� �!���!������2�P�����P(%) / Net NPAs to Net Advances (%) 0.79 0.66

(ii) P�����P���*�3B�2���<*���2�@ / Movement of NPAs (Gross)

<��@������?�/ (a) Opening balance 1221.80 1078.25

<C�@��?� ������'�����������%� ��/ (b) Additions during the year 1747.07 1238.15

<&�@��?� ������'�������!�� / ( c) Reductions during the year (1320.95) (1094.60)

<e�@G�����?�/ (d) Closing balance 1647.92 1221.80

(iii) ����2�P�����P���*�3B�2���/ Movement of Net NPAs

<��@������?�/ (a) Opening balance 470.15 422.11

<C�@��?� ������'�����������%� ��/ (b) Additions during the year 940.97 407.94

<&�@��?� ������'�������!�� / (c) Reductions during the year 674.75 (359.90)

<e�@G�����?�/ (d) Closing balance 736.37 470.15

(iv) P�����P���$����%�������*�3B�2���<!��������D*����������$����%��������=>��:;����@Movement of provisions for NPAs (excluding provisions on standard assets)

<��@������?�/ (a) Opening balance 751.65 641.64

<C�@��?� ������'�������P&�P$����%���� / (b) Provisions made during the year 800.00 830.21

<&�@�����A�$����%�����������GEF��ia�Q���GEF��'�� /( c) Write-off / write-back of excess provisions 688.10 (720.20)

<e�@G�����?�/ (d) Closing balance 863.55 751.65

8.4.2 0����@���� *+�����3� �������"�1 Provision Coverage Ratio

��������������������������������*����-./0-/10..������������$����%����������������������75.67%"'#(<&�����?� 78.95%)The provision coverage ratio of the bank in terms of RBI guidelines as on 31.03.2011 is 75.67% (Previous Year 78.95%)

8.4.3 AB�� �����!�#CDD��Q Loan Restructuring:

�����!�#�CDD"� ��E�"����/ *+� (�������1Particulars of Accounts Restructured:

Sub-standard AdvancesRestructured

Doubtful AdvancesRestructured

*�+�� / Total

Standard AdvancesRestructured

�����&� Xp��

!������� �!�

�����&� Xp�����!������� �!�

�����&� Xp��*�3��&%�� �!�

��89��� 5��5=�:# AB�� ���� *�+��

CDR � SME Debt Others Total

"�2F� �����!�#�XD"� �����!�#�XD"�

Mechanism Restructuring Restructuring

�%��������� ������*�3C���/ No of Borrowers 14 1508 14389 15911������������� / Amount Outstanding 590.35 263.11 1637.31 2490.76�%�����&�<�B���!�+2��!��[�*�@Sacrifice (diminution in the fair value) 47.00 3.40 27.97 78.37

�%��������� ������*�3C���/ No of Borrowers 2 166 672 840������������� / Amount Outstanding 36.74 34.78 216.77 288.28

�%�����&�<�B���!�+2��!��[�*�@Sacrifice (diminution in the fair value) 4.55 0.56 2.56 7.67

�%��������� ������*�3C���/ No of Borrowers - 151 511 662

������������� / Amount Outstanding - 19.40 16.57 35.97�%�����&�<�B���!�+2��!��[�*�@Sacrifice (diminution in the fair value) - 0.61 0.41 1.02

7@����*+"��#��/ *+ ��2���� / No of Borrowers 16 1825 15572 17413(�*+���� ����.� / Amount Outstanding 627.08 317.28 1870.65 2815.01��@�"���!� G7���"� =����� =�/ H���ISacrifice (diminution in the fair value) 51.55 4.57 30.94 87.06

8.4 ��E�"� !������J��/ Asset Quality

8.4.1 ����������3�� ��E�"�/ Non-Performing Asset <�������:;!��@/(��in crore)

<�������:;!��@/(��in crore)

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106

8.4.4 ����,- !�:# 1 (���� !�:# ���3�#*+ ���J��� ��2���J����/ *+� ��������� ?Details of financial assets sold to Securitisation / Reconstruction Company for Asset Reconstruction:.

!����/ B��2�+��?� ��=>2����?�

Items Current Year Previous Year

i) ���"��/ *+ ��2���� Q No. of Accounts 1 101

ii) P*�*��Q����*���������B��&����C���������*���2�!�+2��<$����%����e�EF�����@Aggregate value (net of provisions) of accounts sold to SC / RC 21.05 0.00

iii) �*�+�� 0��"�6+�� QAggregate consideration 21.05 84.79

iv) ��&�����?� !���3�����������&����C���������!��!�2��!����*�+2��&���������A�$���a�2�Additional consideration realised in respect of accounts transferred in earlier years 4.95 0.00

v) ����2���"#�!�+2���������2�2����Q"#���/Aggregate gain/(loss) over net book value 4.95 84.79

A. Non-performing financial assets purchased: NILB. Details of non-performing financial assets sold:

<�������:;!��@/(��in crore)

��������� B��2�+��?� &�����?�

Particulars Current Year Previous Year

1. ���B��&�PC�����Q No. of accounts sold 1 1012. *���2���������Q Aggregate Outstanding 21.05 0.003. $�����*���2�$���a�2�Q Aggregate consideration received 26.00 84.79

8.4.6 =����*+ ��E�"����/ ���� 0����@���� 1 Provisions on Standard Asset

<�������:;!��@/(��in crore)

��������� B��2�+��?� &�����?�

Particulars Current Year Previous Year

!��������D*���������2�P$����%����QProvisions towards Standard Assets 362.57 280.98

9. ���������� �������"� / Business Ratios:

��������� B��2�+��?� &�����?� Particulars Current Year Previous Year

(i) ����� ���2���%��������$�����������������!������������Interest Income as a percentage to Working Funds 8.56% 8.02%

(ii) ����� ���2���%��������$�����������������!��&�'��X����������Non-interest income as a percentage to Working Funds 1.07% 1.45%

(iii) ����� ���2���%��������$�����������������!������B��2���&���2����Operating Profit as a percentage to Working Funds 2.37% 2.44%

(iv) ��D*����������$���a�2�/Return on Assets 1.11% 1.16%

(v) $�����!� B����������*����<��!������������� �!�@<67/������:;!��@Business (Deposits plus Advances) per employee (Rs. In Crore) 10.63 8.45

(vi) $�����!� B�����2����<67/������:;!��@/Profit per employee (Rs. In Crore) 0.0670 0.0576

<�������:;!��@/(��in crore)

8.4.5 ����,- !�:# 1 (���� !�:# ���3�#*+ ���J��� ��2���J����/ *+� ��������� ?Details of non-performing financial assets purchased/ sold:

*+� ����,- !�:# ����������3�� ���J��� ��E�"����2? .�������� (���� !�:# ����������3�� ��E�"����/ *+� ��������� :

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�������>��"�� ��4����#Maturity Pattern Foreign CurrencyG���:=� (�*�+��I 3�=������.����� ��K�=� ������.� 7@���� ��E�"����� ,�-��"��5�

(Time buckets) Deposits Advances Investments Borrowings Assets Liabilities

.����/ Day 1 974.46 404.33 0 34.38 0 0

1*��R����/ 2 to 7 days 4418.58 827.82 283.28 379.06 0 0

9*��.8����/ 8 to 14 days 3650.98 1688.89 39.15 8.91 690.78 1238.09

.Y*��19����/ 15 to 28 days 3136.24 2588.54 547.65 133.78 696.31 297.22

1I����*��-!��"#

29 days to 3 months 30498.44 7967.20 581.84 949.89 1634.98 1557.34

-!��"#*���%�����'��\!��"#����

Over 3 months and up to 6 months 8479.81 8237.92 371.51 1455.89 550.43 1264.57

\!��"#*���%�����'��.��?� ����

Over 6 months and up to 1 year 15612.44 8229.57 557.96 44.37 723.85 210.49

.��?� *���%�����'��-��?� ����

Over 1 year and up to 3 years 57094.61 32880.19 3836.86 200 82.41 56.73

-��?� *���%�����'��Y��?� ����

Over 3 years and up to 5 years 5330.60 12567.77 6785.08 300.00 387.18 385.93

Y��?� *���%���Over 5 years 2691.00 18232.65 30243.73 3411.90 496.28 133.23

*�+�� / Total 131887.16 93624.88 43247.06 6918.18 5262.22 5143.60

11. 5>������3��� / Exposures:

11.1 '����2��,-� L��F� *+�� 5>������3�� / Exposure to Real Estate Sector: <�������:;!��@/(��in crore)

B��2�+��?� &�����?�

M���� / Category Current Year Previous Year

G*+I 0�"��L� 5>������3��� / A) Direct exposure (i) ��"#��������3%���X / Residential Mortgages –

7@���� 7�� ���NO���.� ��2���J� ���� (�2@�*+ P-���� �����#"���� 0��"�'��"� N4OQ3��� 7@����*+"��# *�+ *+(3��=�/ ����� ����� N4O ��� �*+������ ���� N4ORLending fully secured by mortgages on residential property that is or will beoccupied by the borrower or that is rented 3676.00 3197.75X��*�!��*��$����!������5��H�UVL�� �!�!��3*�!���������"#�������H����A�&��������*�UVL�-of which individual housing loans eligible for inclusion in priority sector advance 3330.00 2981.31

(ii) ���L�D�������+X*�3�����/ Commercial Real Estate –X�%�������L�D�������+X*�3�����<������ 2���������MC������������������*�����M��"�#,�����������L�D���������*���M��"�#��������������"#������������M��"�#�������u��������L�D���������*���M��'h��&���������&������!�*�����M"#��EF2�M��+!��%� �"#L�M�����*�P��3��!�� L�����@������3%���4�����$�����+��"'#(PK*���������!��&�'��X��%���%������<P��Pa����@*��!��P]���!�2�"�#(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 includesnon-fund based (NFB) limits; 3831.00 2312.28

(iii) ��3%���4�����*�!�b����$�����+������<P!����P*�@P��3����$�����+���J���PK*�����������!���������XInvestments in Mortgage Backed Securities (MBS) and other securitisedexposures –

��/��"#������ / a. Residential 4.84 6.36 C�/���L�D�������+X*�3����� / b. Commercial Real Estate. 3.60 4.49

���,�-.� =��S-�

10. ��E�"� ,�-��"�� 0�(�2@���/ Asset Liability Management:

��D*������P��3����������������������!��������������K�������'EF�� 31.03.2011

Maturity pattern of certain items of assets and liabilities as on 31.03.2011 <�������:;!��@/(��in crore)

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M���� 1 ������ �� �# !�"� �� �#Category Current Year Previous Year

<C�@�$����5�PK*��������� / B) Indirect Exposure

���?EfF��������*������<P��PB����@P��3�����*���)��3���������

<PB�Pa�*��@������%���%������P��3&�'��X��%���%������PK*��������� Fund based and non-fund based exposures on National Housing Bank (NHB)and Housing Finance Companies (HFCs). 1105.00 1130.67

'�� ��2��,-� L��F� =�/ *�+�� 5>������3��� 1Total Exposure to Real Estate Sector 8620.44 6651.55

<�������:;!��@/(��in crore)

������ �� �# !�"� �� �#Current Year Previous Year

(I) GDK��EF����������M�������� ��������3S;��QS;���B����������GDK��EF���!��C�!���B���2�a3�S;�������+��EF��!����P&�P$����5���������������!�+2���%���������N������������EFUVL�!�������������"#O���������(Direct investment in equity shares, convertible bonds, convertible debentures 683.63 696.74and units of equity-oriented mutual funds the corpus of which is not exclusivelyinvested in corporate debt;

(II) GDK��EF����������<��G ������QG P*�������P*�*�"#��@M�������� ��������3S;��P��3S;���B�����MGDK��EF���!��C�!���B���2�a3�S;�������+��EF��!���������"�#������A�������������������������2��� �!�Advances against shares /bonds/debentures or other securities or on clean basis 0.00 0.00 to individuals for investment in equity shares(including IPOs/ESOPs), convertiblebonds, convertible debentures and units of equity-oriented mutual fund;

(III) ������*��$���������M��"#�]$����!���$�����+���������!����������������������� ��������3S;�������������� �����S;���B���������GDK��EF���!��C�!���B���2�a3�S;�������+��EF2��������"'#M"�#���� �!�Advances for any other purpose where shares or convertible bonds or convertible 0.58 ��+���QNildebentures or units of equity-oriented mutual fund are taken as primary security;

(IV) ������������*�3���b`���$�����+���������������� ��������3S;�������������� �����S;���B�����������GDK��EF���!��C�!���B���2�a3�S;4�������5���*��!���������������*��$���������"�#������� ����"#�]$����!���$�����+������=>��:;�����������Q�������� ��������3S;Q�������� �����S;���B���QGDK��EF���!��C�!���B���2�a3�S;� �!���������+L� ��N��������"#O�������"�#(Advances for any other purposes to the extent secured by collateral security of shares 0.00 151.58or convertible bonds or convertible debentures or units of equity-oriented mutual fundsi.e. where the primary security other than shares/convertible bonds/convertibledebentures/units of equity-oriented mutual fund does not fully cover the advances;

(V) *EF�i��q�������������$�����+��P��3�$�����+��� �!������*EF�i��q���������P��3!�����EF!����*� ��������*��������&���3�EF���](Secured and unsecured advances to stock brokers and guarantees issued on 105.00 129.00behalf of stock brokers and market makers;

(VI) *�3*��%������EF�������*�3��������!����G �3������������GDK��EF�"�#���$����� ������3����������2�P������������EF����������Q���3S;QS;���B�������������$�����+���������*�����5�*�3*����J���UVL�������*�3*����J�������r%�UVL�(Loans sanctioned to corporate against security of shares/ bonds/ debenture or ��+���QNIL ��+���QNILother securities or on clean basis for meeting promoter’s contribution to theequity of new companies in anticipation of raising resources;

(VII) $���������GDK��EF�s2���QG���+�����67j��3���������������+����UVL�Bridge loans to companies against expected equity flows/issues; 33.73 ��+���QNIL

(VIII)������������$����!���G���+�������������� ��������3S;���������������� �����S;���B�����������GDK��EF���!��C�!���B���2�a3�S;�������+��EF�����*�3��3%�!���������4�����2��&�G "#�!��������$�����j����Underwriting commitments taken up by Banks in respect of primary issue of ��+���QNIL ��+���QNILshares or convertible bonds or convertible debentures or units of equityoriented mutual funds;

(IX) !��b����Ef�FgS;&�"�#���*EF�i��q���������������)�����?�L� /Financing to stock brokers for margin trading; ��+���QNIL ��+���QNIL

(X) �h!���+3�����%�<��3����J���P��3&�'��X��3����J�����������@���*����PK*��������All exposure to Venture Capital Funds (both registered and unregistered) 4.73 1.50

���23� (��3���� *+�� *�+�� 5>������3�� / Total Exposure to Capital Market 827.67 978.82

<�������:;!��@/(��in crore)

11.2 ���23� (��3���� =�/ 5>������3��� / Exposure to Capital Market:

=�,- 1Item

<+=� ��2� 1Sl.No.

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109

3������=� 31.03.2011 *+�� 31.03.2011 *+�� 31.03.2010 *+�� 31.03.2010 *+��M���� 5>������3��� G�������I @�����"� 0����@���� 5>������3��� G�������I @�����"� 0����@����Risk Exposure (net) Provision held Exposure (net) Provision heldCategory as on 31.03.2011 as on 31.03.2011 as on 31.03.2010 as on 31.03.2010

��&�L�� / Insignificant 1022.38 ��+���QNIL 1090.44 ��+���QNIL

��!� / Low 664.26 ��+���QNIL 739.09 ��+���QNIL

!�%��!�/ Moderate 41.72 ��+���QNIL 195.89 ��+���QNIL

�%��� / High 43.81 ��+���QNIL 0.54 ��+���QNIL

��"�#���%��� / Very High 0.05 ��+���QNIL 25.28 ��+���QNIL

$�����3%��� / Restricted 0.00 ��+���QNIL 1.47 ��+���QNIL

��ia�XZ��S;EF / Off-credit 8.92 ��+���QNIL 8.84 ��+���QNIL

*�+�� / Total 1781.14 .����� 1NIL 2061.55 ��+���QNIL

11.4 (�)*+ P-���� ��"�<+�=�"� 5*+�� 7@����*+"��# ��=�� G5��(�5��IQ ��=��NO 7@����*+"��# ��=�� G3�(�5��I *+� ��������� Details of Single Borrower Limit (SBL), Group Borrower Limit (GBL) exceeded by the bank

<�������:;!��@/(��in crore)

�%�������� �������!� P��2�PK*��������� *�3*����J���*��!�� -./0-/10..���������*���������������?�Name of Borrower Single Exposure limit Sanctioned Limit Outstanding Balance as on

31.03.2011

�/$�/�����������������������2�/U.P. Power Corporation Ltd. 2591.30 2530.96 1700.58

11.5 �$�����+��� �!�QUnsecured Advance: <�������:;!��@ /(��in crore)

��������� ������ �� �# !�"� �� �#Particulars Current Year Previous Year

a) ���2��$�����+��� �!�/ Total Unsecured Advances 12484.48 12300.32b) G*�!��*���!�+�� $�����+������4�����*�!�b����� �!���'*���%������������$������M����n�D������3M

$��%����������Of which advances backed by intangible securities such as chargeover rights, licenses, authority etc. 589.62 691.68

11.6 ������@� / Miscellaneous:

11.6.1 �� �# *�+ ,-�4����� ����*+�� N�O"�� �*+��� !���� 0����@���� *+ ����.� / Amount of Provisions made for Income tax during the year:

<�������:;!��@ /(��in crore)

��������� ������ �� �# !�"� �� �#

Particulars Current Year Previous Year

��������"�#���$����%���� / Provision for Income Tax 455.66 554.24

��*��&���UVL�"�#���$����%���� / Provision for Deferred Tax 51.94 11.05

11.6.2 ����������4������2�&��P&�P�3�S;N��+���<&�����?� N��+���@ / Penalties imposed by RBI: NIL (Previous Year: Nil)

12.1 3�=������.����/ *+� ��2*�+�S-�� / Concentration of Deposits: <�������:;!��@ /(��in crore)

���*�*���*����:�;��!������� ���������2���!�������Total Deposit of twenty largest depositors 13155.00

�����������2���!�������!�����*�*���*����:�;��!������� ��������!����������$�������Percentage of Deposits of twenty largest depositors to Total Deposits of the bank 9.97%

11.3 3������=� M��������� *2+��� 5>������3���/ Risk Category wise Country Exposure:

<�������:;!��@/(��in crore)

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110

12.2 ��K�=��/ *+� ��2*�+�S-�� / Concentration of Advances:

<�������:;!��@ /(��in crore)

���*�*���*����:�;�%������� ����������2�� �!� Total Advances to twenty largest borrowers 12521.82

�����������2�� �!�!�����*�*���*����:��%��������� ������� �!����$�������Percentage of Advances to twenty largest borrowers to Total Advances of the bank 13.37%

12.3 5>������3��� *+� ��2*�+�S-�� 1 Concentration of Exposures

<�������:;!��@ /(��in crore)

���*�*���*����:�;�%��������� ���Q ��"#�����������2�PK*���������Total Exposure to twenty largest borrowers/ customers 14592.97�����������2�PK*���������!�����*�*���*����:�;�%��������� ���Q ��"#�������PK*������������$�������Percentage of Exposure to twenty largest borrowers/customers to Total Exposure of thebank on borrowers/customers 13.58%

12.4 5����5 *+� ��2*�+�S-�� 1 Concentration on NPAs <�������:;!��@ /(��in crore)

���?� B����P�����PC������!�����2�PK*���������<*���2�@ / Total Exposure to top four NPA accounts (Gross) 296.55

12.5 L��F������ 5����5 1Sector-wise NPAs

G*�5��H�!�����2�� �!���!��

Z�!�*�3/ 5��H� P�����P���$�������

Sl. No. Sector Percentage of NPAs to TotalAdvances in that sector

1 �J�?�P��3*�3��j�&�����%����3/ Agriculture & Allied activities 4.062 �h��&�<!��GZ���M2�e��M!�%��!���'����J"#��@ / Industry (Micro, Small, Medium and Large) 0.773 *�����/ Services 4.294 ��'��A���UVL�/ Personal Loans 1.29

12.6 5����5 *+� ��2������ 1 Movement of NPAs

���������1 Particulars <�������:;!��@/(��in crore)

.�$�'2�10.0����*���2�P�����P<������?�@��?� ������'�������Jj�<��PP�����P@Gross NPAs as on 1st April 2010(Opening Balance) 1221.80Additions (Fresh NPAs) during the year 1747.07 �������:;<��@e�EF�P3/ Sub- Total (A) 2968.87e�EF�P3QLess:-(i) �T�����Upgradations 325.13(ii) ��*�+2��<��� ��S;C������!�����&�G ��*�+2������=>��:;����@

Recoveries (excluding recoveries made from upgraded accounts) 275.92(iii) ���GEFX��ia�Q Write-offs 719.90 �������:;<C�@ / Sub- Total (B) 1320.95

-.!��B� 10..���������D*����*���2�P�����P<G�����?�@<��XC�@Gross NPAs as on 31st March 2011 (closing balance) (A-B) 1647.92

12.7 ���,�-.� ��E�"����2 5����5 ��4�� ���3���� 1 Overseas Assets, NPAs and Revenue

���������1 Particulars G� *+����T9 =�/I /(��in crore)

���2���D*�����3QTotal Assets 3629.79

���2�P�����PQTotal NPAs 0.94

���2������*��Q Total Revenue 72.44

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111

12.8 "������ ��F� (��U 0�������3�"� 5������ G�3��N/O ������ =����*+�/ *�+ ��������� ��=���*+"� �*+��� 3����� �����L�"� N4OI? .�����

Off-Balance Sheet SPVs sponsored (which are required to be consolidated as per accounting norms) : NIL

13. ��?� ������'�������������������*������*����*��$���������N

���������'��&�'��X����������!�������*��������$�������!������N67/17.82������:;Income from Bancassurance business during the year:Commission received on life & non-life insurance business: Rs. 17.82 Crores

14. ��"����V+ 0�*+��*+���� 1 Additional Disclosures:

14.1 ���'� �� NO���� ���"�� =��2 ���=�� ������ !�5 0����@���� 5��2 ��*+��=�*+"��5�Provisions & Contingencies debited to Profit & Loss Account:

��������� ������ �� �# !�"� �� �# Particulars Current Year Previous Year

(a) �����������!�+2��[�*�"�#���$����%����/ Provision for Depreciation on Investment 130.84 (102.44)

(b) P�����P"�#���$����%����Q Provision toward NPA 800.00 830.21

(c) !��������D*������"�#���$����%����QProvision towards Standard Assets 81.81 2.85

(d) ��������"�#���$����%����QProvision towards Income Tax 455.66 554.24

(e) ��*��&���������D*�����3Q��������P3QDeferred Tax Assets / Liabilities 51.94 11.05

(f) ��G ����P*�"�#���$����%�����QProvision for IRS 12.34 (44.35)

(g) ����<������L�@QOthers (details) 98.88 90.67

*�+��1 Total 1631.47 1342.22

14.2 �������������� � / Floating Provisions:

<�������:;!��@/(��in crore)

���������1 Particulars 2010-11 2009-10

(a) �*����$����%����C�����!��������?�QOpening Balance in Floating Provision Account 48.00 48.00

(b) ��?� ������'����������&�����*����$����%�����������!��L�Quantum of Floating Provision made during the year ��+���QNIL ��+���QNIL

(c) ��?� ������'�����Sf;�iS;�����������!�P��3$���������Purpose and amount of draw down during the year ��+���QNIL ��+���QNIL

(d) �*����$����%����C�����!��G�����?�Closing Balance in Floating Provision Account 48.00 48.00

14.3 0�����L��"�����2 ��� ��NO���� ?67/\/.9������:;<��G ����P*�"�#�������?EF$����5���*��@�Draw Down from Reserves: Rs. 6.18 Cr (from special Reserve for IRS)

15. ������ =����*+�/ *�+ ����WX�� �����������

������������������*������2��C�������*�3*�����4�������������!����A�2��C��!��������<PP*�@����������2��������"'#��'��P�*��2��C��!�����������$����%������

�������*������!��2�C���$���EF�����L���P������"�#(

Compliance with Accounting StandardsThe 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:

<�������:;!��@/(��in crore)

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16.1 ���������������“� ��������������� ������������� �������������� ���� ��������������� ����������!���"������������ ������”: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:

� � �� '�(Particulars 2010-11 2009-10

�����Income 1.29 (9.34)

������Expenditure 4.01 3.03

�������Net (2.72) (12.37)

��� ��������������In crore�

16.2 Income items recognised on cash basis were eithernot material or did not require disclosure under AS 9on Revenue Recognition.

16.3.1.The Bank adopted Accounting Standard 15(Revised)-Employee Benefits, issued by Institute of CharteredAccountants of India, for recognition of its liabilities inrespect of employee benefits, viz, Pension (New),Pension (Old), Gratuity, Leave Encashment, LFC andSick Leave w.e.f. 1st April 2007.

16.3.2.Consequent upon judgement & order passed by theHon’ble Supreme Court of India in finally deciding onthe Bank’s SLP in the matter of its pension(old) schemein lieu of gratuity styled ‘Allahabad Bank Employees’Pension Scheme (Old)’ making it obligatory on the partof the Bank to pay gratuity even to these pensioners,the said Scheme has been discontinued in terms ofapproval of the Bank’s Board of Directors with priorpermission from the Government, w.e.f. October 2010,simultaneously paying gratuity to these pensioner.Hence, further provisioning is neither made nor requiredin respect of Pension (Old) as on 31.03.2011 and infuture.

16.3.3.Out of the accumulated provision for Pension (Old)amounting to � 168.77 Crore as at the time ofdiscontinuation of the Scheme, � 150.00 Crore has beenutilised towards provisioning against Bank’s liabilitiesin respect of Additional Load on account of 2nd Optionfor Pension (ABEPR-1995) by a section of employeeswho were in the Roll of the Bank as on 29.09.1995 butdid not exercise option for Pension Regulations-1995earlier. The remaining � 18.77 Crore has beentransferred to ‘Outstanding Liabilities A/C’ to club withan earlier provision of � 33.00 Crore made in F.Y. 2009-10, towards payment of gratuity in compliance ofHon’ble Supreme Court’s Order, as mentioned inparagraph 17.3.2. above, making total provision on thisscore to the tune of � 51.77 Crore. Out of this, paymentto the tune of � 32.61 Crore has already been made tothose whose names appeared in the Pension Scrollunder the Scheme in October 2010 and some of thelegal heirs of eligible deceased ex-employees whoseclaims were received. The balance � 19.16 Crore isconsidered to be sufficient to meet the payment liabilityto the remaining judgement beneficiaries.

)*+, ��������������������� ����������������������� ����� �!������ "#$���������%��������������������"�#�������������&���� ���'()�*�)�����+�� ,-$� ��.��� $����/��� ������'()�*�$0

)*+-+)���1� �����2��+�3��4556������ ��!7����$����������*���%��/������8!�9%��/���� %�:�����$�9� ;��7��<,-$9����� �/�� ��� "#$� ��.�9� ���= ��$���3����$�����$� >:?,@-,-$� �� � ��������� ���� �%���$� "�#��������� �� � ���������� '�(��:�������$�������"#$���A��� ��������*�����B#����������$���A��������� �2C�����2C�����/����������� ����%��������'3(0

)*+-+,� ;��7��:,-$��� ��*����� %����8��'(����"#� ��1� �� ��!7����$� %��/���� ���������%�:�����$�� ������ � %��/���� %�:�����$�� ���������� �� � �������� ���� ��1� � � $�����%�$��� �������������������������.�!���"�#����':(������������ ��������$��D77�����������������B#������"#���� ����� ���.�!�����3���%���������� ���� ������"�#/���� �%����.�������EF%����1� ��� �%�G��������'(����������!����������':(�9�� � (� �� ���'(�8���%��/��������� �����$�;��7��:,-$�� ����: �������� ���9���'(��������������� ����� $�%�<��!����:��������3�����1� ��� ����"�#/�� ����H����� ���:����"#����� ����:������8���%��/��������� ���;��7��<,-$�� ����: �������� �������� ���*��'($��I< �����4525��������"#�� ���"#$� �8!�'3(���3���8���� ��*�����%���8��� %��/�������� � ��� ;�37��:,-$� � �� ��: ������� �� ���� ������� '3(0� 8�����J2K5JK4522�� �����*��&�*�������3��������L���������$�%��/����%�:�����$���� �������������� ��8!�+�������������������� ���� �����'3(���3������'($��%���G����'3(0

)*+-+-����������������%����� ����������� ��������%��/����%�:�����$���� �EF%���������7����MNK2OPK66�� ��������� �+������������������MNK2C5�� �������� �+����� ��� ��!7������������ �D����� �!��� ����9������45K5�K2��C�� �����1� � $�����������������*���%������:9�����'(������%��/���������������2��C�'�(��:�%��/���� ������ %����'()��%�������9��B#��$���%��/�������� %�����$%�$%�$�����Q2��C������������%������������I ��������� ����������������1� �� $�"�#����������� ���%��G��+����������� �������� ������� ���� ����0�/��L��MNK2PK66�� ������� $�����/�� ���R�$��� ��L�!�455�Q25����� �� �� ���MNKJJ�� ��������� �%�>?���+������������ ����*�������� ���S��� �����"�#������A�����T��������������� $� �8!������D%����%�3����2OKJK4�������*��D&��A�����������$���D77������������������ ���"�#/���� ����:%����������;��7��:,-$��� ���: ��������� �EF%�����*�$0�8���+�� ����8�����������������: ��+����������MNKC2K66�� ���������'(�08����������MNKJ4KO2�� �������� ����: �������D��� ���� ����"#���� �����'3(������� ��������I< ����9�4525������������� ����� �!���%��/�����U �V������*����3��� �: >?� ��: ������� %��W�� �"#��� ���� ��<��%�<��!� � ��!7���������� �� � � ���<��$������������ ����"#���� ��������������"#�����+��%���':(��*��0�/��L��MNK�2�K2O� �������� $���� ���� �������.�!����� ���7���':(�������X*������� $�"�#������� ���: �������� �������� �����%����!%���%������ ����0

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113

16.3.4. Bank’s liabilities in respect of the remaining funded/non-funded employee benefits, viz., Pension (ABEPR)[hitherto known as Pension(New)], Gratuity, LeaveEncashment, LFC and Sick Leave are recognised onthe basis of actuarial valuation carried out by approvedActuary as per

(a) Principles laid down in AS 15 (Revised) issued bythe Institute of Chartered Accountants of India,and

(b) guidelines GN 26 issued by Institutes of actuariesof India.

%��/��� ���� �/�

���$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

����������$�"#�� / Discount Rate 8.5% 8.5% 8.5% 8.5% 8.5%��������� $���YZ��$�"#�Salary Escalation Rate 4% 4% 4% 0.00 4%[����"#�� / Attrition Rate(p.a) 1% 1% 1% 1% 1%������������&��������%���������� $�+������/����"#��Expected Rate of Returnon Plan Assets 8% 8% 0.00 0.00 0.00

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%�!���$�����������/ Actuarial assumptions:

��� ������������/ (� In crore)

0� %���"����� �� ���������� ����"�� ���� ���� ������� 1A) Change in the present value of Obligation:

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%��/��� ���� �/����$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�

Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

a)��L�!��� �������������%�$��$��� C.Y. 686.82 419.72 103.50 14.14 21.51PVO at the beginning of the year P.Y. 614.69 390.75 97.68 11.47 19.81

b)��������� ��� C.Y. 52.38 32.83 7.25 0.44 1.83Interest cost P.Y. 47.60 30.12 7.05 0.37 1.58

c)7���<���������� ��� C.Y. 527.48 25.10 20.12 0.00 4.94Current Service Cost P.Y. 66.30 15.51 3.70 0.00 1.80

d)+�"#R������ C.Y. (141.27) (67.00) (36.30) (17.98) 0.00Benefits Paid P.Y. (39.34) (28.43) (19.23) (13.64) 0.00

e) ����������%������$����� � �'(��������������� C.Y. 1453.37 188.55 34.67 24.01 3.71Actuarial Loss/ (Gain) on Obligation P.Y. (2.43) 11.78 14.30 15.94 (1.69)

f) ��L�!��� ����������%�$��$��� C.Y. 2578.77 599.20 129.24 20.61 31.99PVO at the close of the year P.Y. 686.82 419.72 103.49 14.14 21.51

)*+-+2�/��L��������� � �3��Q������� �� ��!7����$����������*��9�%��/�������$%�$8!�������������%��/������8!���� �EF%��������������������'3(�9�;��7��:,-$9����� �/���� "#$� ��.�9���K�= K��$K���3�����$�����$����� �/���� ����������������1� � $�"�#������� ��

� � �������$��� ����"$#� ��A��� ���� ����*����� B#����� �����$� ��A��� ������ 2C���/��������������������!���������\#���������3��

A�� �������$�����$����� � �����*�����B#����������$��"#/�����"]#/������$����4O��� ���:���������:�����"#�����$����� � �B#�������$����� �����<����� ����� ��������%���������������� �����������'3(0

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��0�"���.�����#�$���3�"������4�5��������"���������� �������/B) Changes in the Fair Value of Plan Assets: ��� ������������/ (� In crore)

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%��/��� ���� �/����$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�

Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

a)��L�!��� ���������

������������&��������� ��D�7������<��

Fair Value of Plan Assets at the C.Y. 686.82 419.72 - - -beginning of year P.Y. 614.69 390.75 - - -

b)������������&������������+������/����+����= � C.Y. 54.95 33.58 - - -

Expected return of Plan Assets P.Y. 49.17 31.26 - - -

c)� ��!7����$�� ����/�"#��� C.Y. 1131.51 52.51 - - -

Employer’s Contribution P.Y. 50.78 21.58 - - -

d) +�"#R������ C.Y. (141.27) (67.00) - - -

Benefits Paid P.Y. (39.34) (28.43) - - -

e) ��$����� � �'(�������������� C.Y. 49.60 (0.33) - - -

Actuarial (Loss)/Gain P.Y. 11.52 4.57 - - -

f) ��&��������� ��D�7������<��

Fair Value of Plan Assets C.Y. 1781.59 438.48 - - -

at the close of year P.Y. 686.82 419.72 - - -

g) ������������&��������%�������������� �+����= � C.Y. 57.00 28.28 - - -

Actual return on Plan Assets P.Y. 53.08 31.91 - - -

6�0���� ����%�!���$��������(�7����������0 / C Net Actuarial Loss / (Gain) ��� ������������/ (� In crore)

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%��/��� ���� �/����$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�

Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

a) ����������%������$����� � �'(����������������Actuarial loss / (gain) on C.Y. 1453.37 188.55 34.67 24.01 3.71obligation (B) P.Y. (2.43) 11.78 14.30 15.94 (1.69)

b) ������������&��������%������$����� � �'(�������������� Actuarial loss / (gain) on C.Y. (49.60) 0.33 0.00 0.00 0.00Plan assets (C) P.Y. (11.52) (4.57) 0.00 0.00 0.00

c) ���������$����� � �'(��������������Net Actuarial loss / (gain) C.Y. 1403.77 188.88 34.67 24.01 3.71

P.Y. (13.95) 7.21 14.30 15.94 (1.69)

d) �����������������������$����� � �'(��������������Actuarial loss / (gain) recognized C.Y. 1403.77 188.88 34.67 24.01 3.71in the period P.Y. (13.95) 7.21 14.30 15.94 (1.69)

e) ���������������$����� � �'(���� C.Y. 0.00 0.00 0.00 0.00 0.00Unrecognised actuarial loss P.Y. 0.00 0.00 0.00 0.00 0.00

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��� ������������/ (� In crore)

D) ;wÖtlvºt bku btàg htrN / Amount recognized in Balance Sheet:

89�0�������: �$�����������������������;����� "�"��1E) Expenses recognized in Profit & Loss account

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%��/��� ���� �/����$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�

Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

� � ��L�!��� ����������%��������L���

���������������� ������!��������<��a)Present value of defined benefit C.Y. 2578.77 599.20 129.24 20.61 31.99

obligation at the end of the Year P.Y. 686.82 419.72 103.49 14.14 21.51

^�,-����_/Less:

A�����L�!�� $������&%���%���������������&��������� ��D�7������<��

b)Fair value of Plan Assets at C.Y. 1781.59 438.48 0.00 0.00 0.00close of the Year P.Y. 686.82 419.72 0.00 0.00 0.00

��:����%�W���������������� �3��Q��������\�������"�#���������&����c) Unfunded Net Liability/ (Asset) C.Y. 797.18 160.72 62.04 24.45 10.48

recognized in Balance Sheet P.Y. 0.00 0.00 25.04 16.31 1.70

��� ������������/ (� In crore)

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%��/��� ���� �/����$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�

Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

� ��7���<���������� ��� C.Y. 527.48 25.10 20.12 0.00 4.94a) Current service cost P.Y. 66.30 15.51 3.70 0.00 1.80

A������������ ��� C.Y. 52.38 32.83 7.25 0.44 1.83b) Interest Cost P.Y. 47.60 30.12 7.05 0.37 1.58

���������������&��������%����+������/�������� C.Y. 54.95 33.58 0.00 0.00 0.00c) Expected return on Plan Assets P.Y. 49.17 31.26 0.00 0.00 0.00

^�� ��L�!������������������������$����� �

'(���������������d) Net actuarial loss / (gain) C.Y. 1403.77 188.88 34.67 24.01 3.71

recognized in the year P.Y. 13.95 (7.21) (14.30) (15.94) 1.69

`a������������������� C.Y. 1928.69 213.23 62.04 24.45 10.48

e) Net Benefit Expense P.Y. 50.78 21.58 25.04 16.31 1.70

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5�0�����������<����������;��������"����������#�$5������1

F) Movements in the Liability recognized in the Balance Sheet

� � �� '� / Particulars "���.�������/��� / TYPE OF PLAN

��������\� / Funded �3��Q��������\# / Unfunded

%��/��� ���� �/����$8%�$����� ;��7��:,-$ ��� "#$� ��.� ���= ��$ ��$�����$����� �/�

Pension Gratuity Leave LFC Sick Leave(ABEPR) Encashment

� ���*���������"�#����� C.Y. 0.00 0.00 0.00 0.00 0.00

a) Opening Net Liability P.Y. 0.00 0.00 0.00 0.00 0.00

A�������������������� C.Y. 1928.69 213.23 62.04 24.45 10.48

b) Net Benefit Expense P.Y. 50.78 21.58 25.05 16.31 1.70

^�,-����� Less:

����"#���� ���� �������/�"#��� C.Y. (1131.51) (52.51) 0.00 0.00 0.00

c)Contribution paid P.Y. (50.78) (21.58) 0.00 0.00 0.00

���8�����������"�#����� C.Y. 797.18 160.72 62.04 24.45 10.48

d) Closing Net Liability P.Y. 0.00 0.00 25.05 16.31 1.70

=>0�?@A#?A�B��� ��%����:�� ����6�:���� ��C����/����C����1G) Investment percentage maintained by the Trust:

� � �� '� ���C�������$8%�$����� D��5�"��?A!Particulars Pension (ABEPR) Gratuity

Current Year Previous Year Current Year Previous Year

�� �b#������ ����� $�+������<������c / Central Govt. Securities 21.35 33.97 31.08 36.58

������������ ����� $�+������<������c / State Govt. Securities 37.37 23.37 30.20 20.89

D77�������$���� ���%������,-�����H��%�$�����<�%�$�= ��$�

High Quality Corporate Bonds (PSU/PFC) 39.58 40.34 38.56 41.72

���/��L������������������c / Special Deposit Scheme 0.85 1.57 0.16 0.17

�����������/� / Other Investment 0.85 0.75 0.0 0.64

16.3.5. During the year, the Bank reopened the pension forsuch of its employees who did not opt for the pensionscheme under Allahabad Bank (Employees’) PensionRegulations 1995 earlier. As a result of exercise ofwhich by 11557 employees, the Bank has incurred aliability of ��708.07 Crore. Further, during the year, thelimit of gratuity payable to the employees of the Bankwas also enhanced pursuant to the amendment to thePayment of Gratuity Act, 1972. As a result, the gratuityliability of the Bank has increased by � 39.63 Crore.

In terms of the requirements of the Accounting Standard(AS) 15, Employee Benefits, the entire amount of� 747.70 Crore (i.e., � 708.07 Cr for second option ofpension + � 39.63 Cr due to increase in ceiling ofgratuity limit) is required to be charged to the Profitand Loss Account. However, the Reserve Bank of Indiahas issued a circular DBOD No.BP.BC.80/21.04.018/

��� ������������/ (� In crore)

(%����)/(in %)

7���<���L�! ������L�! 7���<���L�! ������L�!

)*+-+� ��L�!��� �"#�3��������1� ������%������������ ��!7������������ �����%��/����� ����� %���= �������A������"#��������'(������8��'(����"#���1� �� ��!7����$�%��/���� �����������2��C��� ����� �!��%�'(��� %��/����� �� ���� %�� ��'()�"#����*��0��8���+��U ������ �%����.�������EF%��22CC6�� ��!7����������������� %���"#������3�����1� �� ���MNK65PK56�� �������� ��"#��������Ddee����%����0�8���� ��������I � ��L�!��� �"#�3������ ��1� �� ��!7����������� ���"�#��;��7��<,-$�� $���� �����$�;��7��<,-$���: �������������������2�64��������/�������� �����YZ��"#$� �8!0�8���� �%����.�������EF%����1� �� $�;��7��<,-$�"�#�����MNKJ�KOJ�� �������������YZ� �8!0

��A��������� �������2C��� ����:������� ��!7����$�����9�MNK6f6K65� �������� $����%�<.�!���� ����*��!���"<#������%��/�������� %��'�(��:�MNK65PK56� �������+�;��7��<,-$���$����������g�\#��� �= ����EF%��MNKJ�KOJ�� �����������Q'(����� A������ ���� +���������� � $� �����$� �%���G���� '3(0� � ��*���%��������$����������!���1� ����������!������ �G��W���� ���1� ����� �� ��!7���������'�(��:� %��/���� ���� %�� %�:��_� A�������� ��3��� ;��7��<,-$� ��$���� ���� ��g�\#Q

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117

2010-11 dated 9th February, 2011 on Re-opening ofPension Option to Employees of Public Sector Banksand Enhancement in Gratuity Limits – PrudentialRegulatory Treatment. In accordance with the provisionsof the said Circular, the Bank would amortise the amountof � 747.70 Crore over a period of five years.Accordingly, � 149.54 Crore (i.e., � 141.61 Cr + � 7.93Cr, representing one-fifth of � 747.70 Cr) has beencharged to the Profit and Loss Account. In terms of therequirements of the aforesaid RBI circular, the balanceamount carried forward, i.e., � 598.16 Crore (� 747.70Cr – � 149.54 Cr) does not include any employeesrelating to separated/ retired employees.

Had such a circular not been issued by the RBI, theprofit of the Bank would have been lower by � 598.16Crore pursuant to application of the requirements ofAS 15.

16.4. The Bank has since completed the process ofimplementing wage revision on account of 9th BipartiteSettlement/ Joint Note dated 27.04.2010. The exercise,including payment of Bank’s contribution to PF on arrearsalary, has been completed within the aggregateprovision of � 275.00 Crore held by the Bank as on31.03.2010 (� 122 Crore and � 153 Crore provided inF.Y. 2008-09 and 2009-10, respectively). The ad-hocprovision from earlier F.Y. amounting to 47.00 Crorehas been applied towards Bank’s liability in respect ofAdditional Load on account of 2nd Pension Option.

16.5. Pending formulation of the Defined ContributionRetirement Benefit Scheme for the employees joiningo the Bank on or after 01.04.2010, estimated amountof Bank’s contribution has been provided to debit ofprofit and loss account for the year.

16.6. Segment Reporting – Accounting Standard (AS) 17“Segment Reporting”Segment information is given in the ConsolidatedFinancial Statements in terms of para 4 of the Standard.

16.7. Related Party Disclosures – Accounting Standard (AS)18 List of Related Parties and Transactions

E���#�$+ ����� ��������� ���� ���%��"��No. Name Designation Remuneration

Sl.Current Year Previous Year

-)+F-+,F))����"�����#����������.������������C� / Existing Directors as on 31.3.2011

1 h�$����K%�$K�"<#�� ����G�������+����������"�#/�� Shri J. P. Dua Chairman & Managing Director 20.37 21.70

2 h�$�H�$K������ ��� � ���!%���� ����"�#/�� Shri D. Sarkar Executive Director 13.57 2.48

3 h�$����K�����K������� � ���!%���� ����"�#/�� Shri M. R. Nayak Executive Director 12.72 1.92

��� ���������C� / Ex Directors

1 h�$��� K�����K�� ����� ��<��%�<��!�����G�������+����������"�#/�� Shri K. R. Kamath Ex-Chairman & Managing Director 4.60 17.69

2 h�$��� K��� K��;����� ��<��%�<��!�� ���!%���� ����"�#/�� Shri K K Agarwal Ex-Executive Director 2.17 14.31

�(� ÖttFtu bü) / (� In Lacs)

5������ �G�� ���=>���� �G��

)*+* ��� ����,-����%���i,- ��Q���A��������� �������26�“���� ����,-����%���i,- �”0��� ����,-���<7�����c�������� ������R�$����������.������������ ��� �%�3����f���

���:������"#$� �8!�'1(3(0

)*+H ������������ %�G�� ������ �� � +�� ,-$� ��.�� Q� ��A��� ������ � ������ 2P

������������%��X,-������ $���<7�$����������"�#��

� � ������������%��X,-������� ������9���1� ��� ����*��D��� �������������*����� �� �������"�#���_a) The names of the related parties, their relationship with the bank and transaction effected:

)*+2 ��1� ���������� �B#%�G�$�������j��3�����"#����� �46K5fK4525��� ������:I ����,-��� ����:�����������������/���������� �� ����!��������� $�+��U ����%�<��$�� ���$�'3(0���� ��������������� ��������������������������1� ��� ���/�"#�������'(����'(� +��U ����J2K5JK4525�� ��� ��*��&�*����� ��1� �B#����� �� �� ��MNK46CK55� � ������� �� � +���������� ���R�$��� ��L�!� 455PQ5�� ��3��4525Q22��� �����U ��/�_�MNK244�� ���������3���MN�2CJ�� ������� ��+������������� ����*��%�<��$�� ����$� �8!�'3(0�%�<��!����k����R�$�����L�!��� MNKf6K55�� ��������� ���"#*�!�+����������� ��+����� ���B#��$���%��/�������� %��� �� ���.��%������������I ��������� ����������������1� �� $�"�#������'�(��:�� �������� �����'3(0

)*+� 52K5fK4525��*�����D���� ����"#���1� ������������������������� ��!7���������'�(��:�%��������L������/�"#���������������g�R������������������ �����������EF%��"#������������ ���1� ���/�"#����� $����:�������������/��'�(��:�+������������L�!�� �����Q'(�����A�������������������A��� �����'3(0

������� %�<.�!���������� �D%�7������� ���������������"#����� ���= ������$�4522� ��� %����%�W��H�$��$���H�$����� ��$%�$K��$��$KP5�42K5fK52P�4525Q22������$���� ����'3(0�D%���:!I �%����%�W���� �+�������������� ����:��������1� MNK6f6K65�� �������� $���� ���� ���%��c7����L�!�� $������������%����/��������� ��� ��0���"#��:������MNK2f�KCf�� ��������*��!���MNK2f2KO2�� ������+� MNK�6K�J�� ������9� MNK6f6K65�� ������� %��c7����� �'(������ �� ������Q'(�����A����������+������������ ���� �����'3(0����K���K��1K��� �D%���:!I %����%�W��� $��%���G�������� ����:�������� ���������8!� �8!�/��L������/��*��!���MNK�C�PK2O�� �������MNK6f6K65�� �������Q�MNK�2f�KCf� �������� ���� ��1� � ������ ��':(�������������gR��':(��� ��!7����$� /��������'()�'1(0

���"#��������$����������!���1� �������'(�%����%�W�������$���'()��� ����'(������������A��������� �2C�� $��%��G�������� ����:��������1� �� �������MNKC�PK2O� �����������^�,-� �����'(�����0

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Expenses towards gratuity and leave encashment aredetermined actuarially on an overall company basis annuallyand accordingly have not been considered in the aboveinformation.

b) Subsidiary:

i) All Bank Finance Limited (wholly owned)

c) Joint Venture:

i) ASREC (India) Ltd.

ii) Universal Sompo General Insurance CompanyLimited.

d) Associates:

i) Allahabad U.P. Gramin Bank

ii) Sharda Gramin Bank

The Bank is holding 100% shares in AllBank Finance Limited,30% shares in Universal Sompo General Insurance CompanyLimited and 35% shares of the above mentioned two RegionalRural Banks.

The transactions with the subsidiaries and Regional RuralBanks have not been disclosed in view of para 9 of the (AS)-18 Related Party Disclosure, which exempts state controlledenterprises from making any disclosure pertaining to theirtransactions with other related parties which are also statecontrolled.

e) Transactions with associated company namelyUniversal Sompo General Insurance CompanyLimited are as follows:

�������.� / Particulars 7���<���L�!�/ Current Year ������L�! / Previous Year

�X����������/Income Earned 7.42 5.49

+�"#R����$�����+���������/ Insurance Premium Paid 6.57 2.98

��� ������������/ (� in Crores)

16.8. Lease Disclosure:

A) The Bank has various operating leases for office /residential facilities. Disclosures in this regard are asunder:

i) Total of future minimum lease payments under non-cancellable operating leases for each of the followingperiods:

Rent payable for unexpired lease period as on 31.03.2011

����.������ ��?IA?A�� � ���� / Existing Lease Period ���"��� ��C��/Amount Payable

5������ �G���/ Current Year 6���� �G�� / Previous Year

�� ���L�!������������ ��� Not later than one year 32.96 36.11

�� ���L�!��� ����"#���*���%��c7����L�!������������ /Later than one year and not later than five years 110.25 94.66

%��c7����L�!��� ����"# / Later than five years 29.99 37.13

��� ������������/ (� in Crores)

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��0 ���:L�� �$��� %���$�_

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i) ��������8!��$8��H��������K

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ii) /����"#��;����$.����1�

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���:L��� �����������G��W�$���;����$.����1� ����� ����*������"�#���� ��A�:�����������–�2P��� �������������%�G�� ����+�� ,-$� ��.���� �%�3������� ����������������A�����':(���'()��� ���� �����'3(�������������B#������������W����Dm������ ���D�������������������%�G�� �������� ����*��D���� �����"�#�������������������A�:������� ������������:I �� �����'3(�������������B#�������$���������W����'1(0

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119

ii) The total of future minimum sublease payments expectedto be received under non-cancellable subleases at thebalance sheet date: NIL.

iii) Lease payments recognised in the statement of profit andloss for the period: Rs. 66.20 Crores.

iv) Sub-lease payments received (or receivable) recognisedin the statement of profit and loss for the period: Rs. NIL.

B) Financial Lease:

Bank is not having any assets under Financial Lease.

16.8 /�����C��"�� ��.�����1��������������7::#�0�,F�1 / Earning Per Share – Accounting Standard (AS) 20:

/�����C��"�� ����������� �NO�P�"��?�ANO��.�����!�6�'�����( Calculation of Basic and Diluted Earning Per Share

E���#�$+ � � � �� '� 5������ �G���/ 6���� �G�� /Sl. Particulars Current Year Previous YearNo.

� K 8&l��,-$�/������������ ���� �����L�!�'�(��:�+�"#������ ����stlu Jt˜t ��������������� �����������

A Net Profit for the year attributable to Equity Share holders (� in Crores) 1423.11 1206.33 Cr.

A�K 8&l��,-$�/���������� $������������3��������A���

B Weighted average number of Equity Shares 44,67,80,864 44,67,00,000

�K +�����/���������<�����!���� �A���MNK�

C Basic Earning per Share (A/B) (Rs.) 31.85 27.01

^�K +�����/��������������������<��

D Nominal Value per share (Rs.) 10/- 10/-

16.10.Accounting for Taxes on Income: AccountingStandard (AS) 22

During the year, an amount of Rs. 51.94 Crores (Net) (Previousyear Rs.11.06 Crores) has been debited to the Profit & LossAccount by way of adjustment of deferred tax. The majorcomponents of Deferred Tax Assets/ Liabilities as on BalanceSheet date are as under:

E���#�$+ � � � �� '� 7���<���L�!�/ ������L�! /Sl. Particulars Current Year Previous YearNo.

� K �������������� �������������� �������������(�)

A Basic and Diluted Earning Per Share (�) 31.85 27.01

ii) ��:����%�W��� $������$A��� ���������������� ������ ����������D%��%�,@-,�-��� ���� �!���+��%����� ���������������+������/���������$������������D%��%�,@-,�-��� ��: ���������� ������ ��_�/�<���

iii) �������������������'�(��:�����������'(������ $��������.�$���������������%�,@-,�-��: �������_�MNK�OOK45�� ������

iv) �������������������'�(��:�����������'(������ $��������.�$���������������+��%���*�����+��%����D%�Q%�,@-,�-��� ���: �������_/�<���

��0� � �3�!"�� ��?IA?A�� 1

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)*+)F ���"����� �� ���������������Q��������������7::#�0�,,

��L�!��� �"#�3����������*�� ����� ����������� ����������������� �EF%������MNK�51.94� ���������������%�>?�����L�!���������������MNK�11.06�� ��������� ������������'(�����A����������������� ��A��� ����0���:����%�W��� $������$A��� �����*��&�*�������*�� ����� �����&����������"�#����������� ���:A��� �,-� ���:���%�W��� $�����*���� ���:�����������������'3(�_

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120

��� ������������/ (� In crore)

The Bank does not recognise deferred tax on HTM categoryof investments as in Bank’s opinion; there is no timingdifference in this regard. Pursuant to the opinion of the ExpertAdvisory Committee of the Institute of Chartered Accountantsof India on recognition of deferred tax on investments, the bankhas referred the issue to the Indian Banks’ Association for theirguidance on the matter since there is a difference in treatmenton this subject in the industry.

16.11 A substantial portion of the bank’s assets comprise of‘financial assets’ to which Accounting Standard (AS)28 ‘Impairment of Assets’ is not applicable. In theopinion of the management, there is no impairment ofother assets of the Bank as at 31.03.2011 to anymaterial extent requiring recognition in terms of the saidstandard.

16.12. Disclosure in terms of Accounting Standard (AS) 29 on“Provisions, Contingent Liabilities and ContingentAssets”:

5������ �G�� 6���� �G�� 5������ �G�� 6���� �G�� 5������ �G�� 6���� �G��

#����"���.���.���RO�$(7L�?A�:$0

�G���!�#������������ � � �� '�

Particulars At the beginning Adjustment At the close ofof the Year Add / (Less) the Year

Current Yr. Previous Yr. Current Yr. Previous Yr. Current Yr. Previous Yr.

���*�� ����� �����&������c

Deferred Tax Assets

���� �/����� "#$� ��.��'�(��:�+���������

Provision for Leave Encashment /�<����NIL /�<����NIL /�<����NIL /�<����NIL /�<����NIL /� < � � ��NIL

��$�����$����� �/��'�(��:�+���������

Provision for Sick Leave 1.23 0.65 3.45 0.58 4.69 1.23

vüNl nu;w ŒtJ"tl (vwhtle)

Provision for Pension(old) 3.66 6.99 (3.65) (3.33) - 3.66

���= ��$�'�(��:�+���������

Provision for LFC /�<����NIL 2.12 - (2.12) - /�<����NIL

�: ��� Total 4.89 9.76 (0.20) (4.87) 4.69 4.89

���*�� ����� ���"�#������c

Deferred Tax Liabilities

�7�����&��������� ����<��[���

Depreciation of Fixed Assets 0.00 1.34 - (1.34) - 0.00

������/���� �EF%���������������+������<��������%���

D%��7����rfkU;w��"�#���������

Interest Accrued but not due on securities

held as Investments 28.81 21.29 51.74 7.52 80.55 28.81

�: ��� Total 28.81 22.63 51.74 6.18 80.55 28.81

Deferred Tax Liabilities (Net) 23.92 12.87 51.94 11.05 75.86 23.92

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cîfU YaxeYb ¶uKe fuU rlJuNtü vh ytô:rd; fUh yrCÒtt; lne

fUh;t ¢gtürfU cîfU fuU rJath mu Rm mkck" bü mbg bü fUtuRo yk;h

lnek ni> rlJuNtü vh ytô:rd; fUh fuU yrCÒtt; vh Cth;eg ml=e

ÖtuFtfUth mkô:tl fUe rJNuMÒt mÖttnfUth mrbr; fuU rJath fuU

ylwmth, cîfU lu Rm bwæu fUtu Cth;eg cîfU mkD fuU vtm btdo=Nol

nu;w Cust ni ¢gtürfU W‘tud sd; bü Rm rJMg vh fUtgoJtne fUhlu

bü fUtVUe rCªt;tYk ni>

�G�����/��� �������

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121

"�#���������'�(��:�+����������� �����7�����8����/��L���_�/ Movement of Provision and Contingencies (Closing balance):

� � �� '� 7���<���L�!�/ ������L�! /Particulars Current Year Previous Year

(fU) YlveY nu;w ŒtJ"tl / (a) Provision toward NPA 863.55 751.65

(F) rlJuN vh bqÖgÄtm nu;w ŒtJ"tl / (b) Provision for Depreciation on Investment 297.78 251.80

(d) btlfU ytrô;gtü nu;w ŒtJ"tl / (c) Provision towards Standard Assets 362.57 280.98

(D) ytgfUh nu;w ŒtJ"tl / (d) Provision towards Income Tax 1747.08 1291.42

(a) ��*��� ����� �����&�������/"�#��������������� �� / (e) Deferred Tax (Assets) / Liabilities 75.86 23.92

(a) ylwMkde ÖttC fUh / (f) Fringe Benefit Tax 26.04 26.04

(A) yàg / (g) Others 1112.19 641.76

����/ Total 4485.07 3267.57

��� ������������/ (� In crore)

17. Customer Complaints:

(a) ��L�!��� ����������������������/�� ��������� $����A����No. of Complaints pending at the beginning of the year 85

(b) ��L�!��� �"#�3������+��%����/�� ��������� $����A����No. of Complaints Received during the year 2025(c) ��L�!��� �"#�3������������������� $� �8!��/�� ��������� $����A����No. of Complaints Redressed during the year 2032(d) ��L�!��� �������������������/�� ��������� $����A����No. of Complaints pending at the end of the year 78

18. �������������� ���������� ���������������������Awards passed by the Banking Ombudsman :

(a) ��L�!��� �������������� ����!������������ ���� ������������.�!������ $����A���/No. of unimplemented awards at the beginning of the year 2(b) ��L�!��� �"#�3���������1��� ������ %����B#�����%���������� ���� ������������.�!������ $����A���No. of awards passed by Banking Ombudsman during the year 16(c) ��L�!��� �"#�3�������� ���!���������� ���� ������������.�!������ $����A������No. of awards implemented during the year 15(d) ��L�!��� ����������� ���!������������� ���� ������������.�!������ $����A���/No. of unimplemented awards at the end of the year 3

� � �� '��/ Particulars 7���<���L�!�/ Current Year ������L�! /Previous Year

(a) ���R�$�����L�!��� �"#�3�����������$�/Issued during the Financial Year 1464.57 1294.90

19. 7�:� �3��$���o�������%�W���������$��/Letters of Comfort (LoC’s): ��� ������������/ (� In crore)

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122

20. Contingent Liabilities:

Such liabilities as mentioned at Sl. No.(I) to (VI) inschedule 12 of Balance Sheet are dependent upon theoutcome of court / arbitration / out of court settlement,disposal of appeals, the amount being called up, termsof contractual obligations, devolvement and raising ofdemand by concerned parties respectively.

21. Estimated amount of contracts remaining to be executedon capital account and not provided for (Net of advance)Rs. 41.84 Crores (Previous Year Rs. 38.67 Crores).

22. Sector wise break up of provision held under non-performing advances is deducted on estimated basis fromgross advances to arrive at the balance of net advancesas stated in the Schedule-9 of the Balance Sheet.

23. The Bank has transferred a total sum of Rs. 356.00 Croreto Special Reserve in terms of section 36 (1) (viii) of theincome Tax Act, 1961. Of this, Rs. 239.00 Crore pertainsto the current financial year and Rs. 117.00 Crore to theprevious financial year.

24. Bank has proposed dividend of Rs. 285.73 Crore (Rs. 6per share), which is subject to notification to be issued tothis effect by the Govt. Of India under section 53 BankingRegulation Act, 1949.

25. Figures of previous year have been regrouped orreclassified wherever considered necessary.

,F+ ��� &���� �"�#������c�_��:����%�W��� $����:��<7�$�24��� �U ������A����(I)�����(VI)�������*��D&��A��������$�"�#������c�U ��/�_��������������X��,p�-/���������������� ����'(������%�,-������ �%����.������9��%�$������ ����%�,-���9����� ��� $� �8!����/�9�������"#� ������������������ $�/����q9�^�,-���U �������3��������������%�G�� ������B#������ $� �8!����� ��%���������!���'1(0

,)+ %�<c��$ ����A������%�������L%��"#���'�(��:�/��L��������"#��� $����:�������������/������� �� +���������� ��'()� �� ���� ����� '3(� ��;���� � �� �������� MNK41.84�� ��������%�>?�����L�!�38.67�� �������0

,,+ ���:+�����������&���������� ����� �!������������+������������ �G��W�������r��� �%�� ������ ����;�����������:�����������������%����^�,-���"#���� �����'3(����� ���:����%�W��� $����:��<7�$���������*���I ����������;����� ��/��L����� ������ 0

,-+ ��3�� ����������� ��������������9�2�O2�� $��������36 (1) (viii)��� ���:����� ����/�L,-�+������G����������MNK�JCOK55�� �������� $��: ������/��*��������������� $�'(30�8����������9�MNK�4J�K55�� �������7���<����R����L�!�����MN�226K55�� ��������%�>?������R����L�!�����������������'(30

,2+ ��3�� � ���� MNK� 4PCK6J� � ������� MNK� O� +����� /�������� � �� ������/�+������������� ����'(39�������� ���3��� ������������������������9�2�f�� $��������CJ��� ���'(���8���� �+������$�'(������� $������$A��� ��������������� ����B#����������$�� $������������$�������<7������� �������$���'(30

,�+ ��'(�c�����/��� �����j��� �����'3(��%�>?�����L�!��� ���c� ������ ���%�:��_����<�'(���*�����%�:��_�� �k�g ����� ���� �����'3(0

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123

AUDITORS’ REPORT

To

The President of India

1. We have audited the attached Balance Sheet ofALLAHABAD BANK as at 31st March 2011, the Profit andLoss Account and the Cash Flow Statement for the yearended on that date annexed thereto. Incorporated in thesaid financial statements are the accounts of :

i) 20 Branches and 46 Zonal offices audited by us ;

ii) 1970 Branches audited by other auditors ;

iii) One overseas branch audited by local auditor;

iv) One unaudited representative office in China and 424un-audited branches, the returns of which are certifiedby the Branch Managers. The unaudited branchesaccount for 1.07% of advances, 4.37% of deposit,0.64% of interest income and 3.80% of interestexpenses.

2. The branches audited by us and those audited by otherauditors have been selected by the Bank in accordancewith the guidelines issued to the Bank by the Reserve Bankof India.

3. These financial statements are the responsibility of theBank’s Management. Our responsibility is to express anopinion on these financial statements based on our audit.

4. We conducted our audit in accordance with the auditingstandards generally accepted in India. Those standardsrequire that we plan and perform the audit to obtainreasonable assurance about whether the financialstatements are free from material misstatement. An auditincludes examining, on a test basis, evidence supportingthe amounts and disclosures in the financial statements.An audit also includes assessing the accounting principlesused and significant estimates made by the management,as well as evaluating the overall presentation of financialstatement.

5. We believe that our audit provides a reasonable basis forour opinion.

6. Without qualifying our opinion, we draw attention to noteno. 16.3.5 of schedule 18 which describes deferment ofpension liability and gratuity liability due to increase inceiling to the extent of Rs598.16 crores pursuant to theexemption granted by the Reserve Bank of India to thepublic sector Banks from application of the provisions ofAS 15, Employees Benefits vide its circular NoDBOD.BP.BC/80/21.04.018/2010-11 dated February 9th ,2011, on reopening of Pension option to employees ofpublic sector Banks.

7. In our opinion and to the best of our information andaccording to the explanations given to us and as shown bythe books of the Bank:

(i) The Balance Sheet read with the Significant AccountingPolicies and Notes thereon, is a full and fair BalanceSheet containing all the necessary particulars and isproperly drawn up so as to exhibit a true and fair view

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124

of the state of affairs of the Bank as at 31st March 2011in conformity with accounting principles generallyaccepted in India.

(ii) The Profit and Loss Account read with SignificantAccounting Policies and Notes thereon shows a truebalance of Profit for the year ended on that date inconformity with accounting principles generallyaccepted in India.

(iii) The Cash Flow Statement gives a true and fair view ofthe cash flows for the year ended on that date.

8. The Balance Sheet and the Profit and Loss Account havebeen drawn up in Form ‘A’ and ‘B’ respectively of the ThirdSchedule to the Banking Regulation Act, 1949.

9. Subject to the limitations of the audit indicated in paragraph1 above and as required by the Banking Companies(Acquisition and Transfer of Undertakings) Act, 1970, andalso subject to the limitations of disclosure required thereinand subject to Notes No.2 (i), 2(ii) & 2(iii) (Schedule 18)regarding balancing / reconciliation of unmatched entriesin inter branch accounts and balancing/ reconciliation ofBalances with Banks and NOSTRO accounts;

We report that:

(a) We have obtained all the information and explanations,which to the best of our knowledge and belief werenecessary for the purposes of our audit and have foundthe same to be satisfactory.

(b) The transactions of the Bank, which have come to ournotice, have been within the powers of the Bank.

(c) The returns received from the Offices and Branches ofthe Bank have been found adequate for the purpose ofour audit.

10. In our opinion, the Balance Sheet, Profit and Loss Accountand Cash Flow Statement comply with the applicableaccounting standards.

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(iii) ������#+������)����!",��)����!",�#6��!"� �����!"#$����������������������������#+��������#����#(��% )����UTU)��+���������!"����.�/

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� � � � � � �� � � � �� � � � � � � � �� � � � � � � � �� � � � � � � � �� ! " �� � �

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Page 125: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

125

��������� ����� �� ������������AS ON �������������AS ONPARTICULARS SCHEDULE 31.03.2011 31.03.2010

������������������������ / CAPITAL & LIABILITIES

���������Capital 1 476.22 446.70������� ����������������������Reserves & Surplus 2 8,257.21 6,517.27���������������� ���Minorities Interest 2A - -��������������Deposits 3 1,31,882.16 1,06,050.74 �����Borrowings 4 6,918.18 5,435.48�!���� � � � � � � � � ���"���������!���Other Liabilities and Provisions 5 4,074.15 3,503.92����� / TOTAL 151,607.92 121,954.11

�������� /ASSETS

#�� ������$���%�&�'�����(�!���)*����"������Cash and Balances with Reserve Bank of India 6 7,901.34 7,183.85

&�'���(���(���������"�����+�� �,�����������-�!������)�*�����!�Balances with Banks and Money at Call and Short Notice 7 3,139.89 1,999.00

����!����!� / Investments 8 43,500.45 38,637.57

./0���������1��� /Loans & Advances 9 93,625.85 71,608.15

2�,����2� ����� /Fixed Assets 10 1,160.17 1,131.35

�!�����2� ����� /�Other Assets 11 2,280.22 1,394.19

�������!���������� / Goodwill on Consolidation NIL NIL

���#�����������!����� �������!�����������Debit Balance of Profit and Loss A/C NIL NIL

����� /TOTAL 151,607.92 121,954.11

�����������)�*�� ���� / Contingent Liabilities 12 56,394.48 49,080.79

���1���0������������&��� / Bills for Collection 3,984.60 2,944.37

W¥vh mk=rCo; ylwmqragtâ ÖtuFu fUt ��#�3� ykd ��"�4The Schedules referred to above form an integral part of the Accounts.

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$%�&�� �'(�)*%%�"#������������������&���"#��������+��,�Consolidated Balance Sheet as on 31st March, 2011

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(Finance & Accountsand CFO)

9:�;�����������%���������!�)�*����

(D. SARKAR)Executive Director

���;���;�!�����������%���������!�)�*����(M. R. NAYAK)

Executive Director

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(S. L. JAIN)Assistant General Manager

(Finance & Accounts)

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5�)*�������A������1������8(Dillip Kumar Agarwalla)

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�<� ������;���;�!�����0����9:����;For M. R. Narain & Co.

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�5���;��!�;�������>?���!�8�(M N Venkatesan)���>%?!� / Partner

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�<� �������B��������9:����;For S. Ghose & Co.

��!�)*����������� /Chartered Accountants��=%������=%����;����;/ICAI Regd No: 302184 E

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�<� ������;����;��1���������9:����;For K. M. Agarwal & Co.

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�<� ������;����;���"!����9:����;For M. C. Jain & Co.

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5��A�������A�������>?����8(Mukesh Ku Patawari)

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� � � � � / Place: � � � � � � � � � � � � / Kolkata� � � � � � � � / Date: 2nd May,2011

�!�)�*���� / Directors:

� � � � � � � � � � � � � � � � / Sh. S Ramaswamy� � � � � � � � � � � � � � � � � � � � � / Smt Sukriti Likhi� � � ! � � � � � � " � � � � � � # � � � /Sh. R M Chaturvedi9:�D; $ � � � � � � % & � ' � � � � � � � ! � � � � �Dr. Shakeel-Uz-Zaman Ansari� � � ( � � ) � � � � � � / Sh. Gour DasC���=uJuëJh fwUbth��������� / Sh. Deveswar Kumar Kapila9:�D;�Jkm; ctcqhtJ����"����+���/ Dr. Vasant Baburao KaujalgiC�����A)*����-��"��� / Sh. Sudip Chaudhuri

��������������������������������������� ������ / As per our report of even date

su. ve. =qyt

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Chairman & ManagingDirector

Page 126: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

126

���������� �������� �!�"#A L L A H A B A D B A N K

��������� ����� �� ��-��'���/ Year ended ��-��'���/ Year endedPARTICULARS SCHEDULES 31.03.2011 31.03.2010

I. ���� /INCOME�E�� ��&����� / Interest Earned 13 11,082.53 8,377.18�!������� / Other Income 14 1,363.97 1,539.96����� / TOTAL 12,446.50 9,917.14

II. !���� / EXPENDITURE�������������+�����&����� / Interest Expended 15 6,991.60 5,718.16���-����!������� / Operating Expenses 16 2,406.88 1,653.89��������!����"�����2����������� /Provisions & Contingencies 1,634.22 1,344.38����� / TOTAL 11,032.70 8,716.43�!�A����+����(���������4����!����������Share of earnings/loss in Associates 25.73 27.75�������������&�������B�>?�!������������%�����%������������� ���!���������#�45����!�8Consolidated Net profit/(loss)for the year before deducting Minorities’ Interest 1,439.53 1,228.46B�>?����F��������������&������/ Less: Minorities’ Interest - -���������������&�G*�����%���� �A��������� �����#�45����!�8�4Consolidated profit/(loss) for the year attributable to the group 1,439.53 1,228.46����H(:F����������������&�G*��������� �����#�45����!�8��1��!�� �Add: Brought forward consolidated profit/(loss)attributable to the group 261.77 217.72����� / TOTAL 1,701.30 1,446.18

III. �!�� �����"� � /APPROPRIATIONS -mtkrJr"f�������� ����(�������� �0� / Transfer to Statutory Reserves 360.00 305.00�!���������� ����(�������� �0� / Transfer to Other Reserves 746.59 591.97yk;rhb / ��� ����� �����#������5˜tCtkN vh fUh mrn;)Interim / Proposed Dividend (Including Tax on Dividend) 332.08 287.44�������� �� �A��!����I����(��1��!�� �������Balance carried over to consolidated Balance Sheet 262.63 261.77����� /TOTAL 1,701.30 1,446.18#����$��������"�� � /Earnings per Share 32.22 27.50W¥vh mk=rCo; ylwmqragtâ ÖtuFu fUt ��#�3� ykd ��"�4The Schedules referred to above form an integral part of the Accounts.

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5���;����;����C��8(C. P. Mishra)���>%?!� /Partner

��)*��� ������;/ Membership No.-073009

�<� ������;����;���"!����9:����;For M. C. Jain & Co.

��!�)*����������� /Chartered Accountants��=%������=%����;����;/ICAI Regd No: 304012 E

5��A�������A�������>?����8(Mukesh Ku Patawari)

���>%?!� /Partner��)*��� ������;/ Membership No.-056623 � � � � � / Place: � � � � � � � � � � � � / Kolkata

� � � � � � � � / Date: 2nd May,2011

�!�)�*���� / Directors:

� � � � � � � � � � � � � � � � / Sh. S Ramaswamy� � � � � � � � � � � � � � � � � � � � � / Smt Sukriti Likhi� � � ! � � � � � � " � � � � � � # � � � /Sh. R M Chaturvedi9:�D; $ � � � � � � % & � ' � � � � � � � ! � � � � �Dr. Shakeel-Uz-Zaman Ansari� � � ( � � ) � � � � � � / Sh. Gour DasC���=uJuëJh fwUbth��������� / Sh. Deveswar Kumar Kapila9:�D;�Jkm; ctcqhtJ����"����+���/ Dr. Vasant Baburao KaujalgiC�����A)*����-��"��� / Sh. Sudip Chaudhuri

��������������������������������������� ������ / As per our report of even date

su. ve. =qyt

��������������&������!�)�*����J. P. DUA

Chairman & ManagingDirector

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127

���������� �������� �!�"#A L L A H A B A D B A N K

��&���"#����"#����0����������������Consolidated Cash Flow Statement for the year ending 31st March, 2011

���������������(� in Crore)

��������� / Particulars 2010-11 2009-10

"#1 ����� ������2��������3����4������"#����0������

A. Cash Flow from Operating Activities

� � * � + � � � � � � ) � � � � � ! � , � � � � - . � � � � � � / � � � � � - ! � � � � � � 0 � � � � � 1 � � � � �

Interest received during the yearfrom Advances, Investments etc. 11,082.53 8,371.95

! � � � ! � � � / Other Income 1,381.71 12,464.24 1,521.71 9,893.66

2 � 3 4 � � 5 / Less:

� � * � + � � � � � � ) � � � � � � � � � � � � � � $ � � � � - � � � � 0 � � � 6 � 1 � � � � � 7

Interest paid during the year on

Deposits 6,497.70 5,341.86

0 � � � � / � � � � � � � ! � � � 8 � � � � � � � ! � - � � 9 : � � � � � � � " � � � � � � � � � � �

Operating Expenses including

Provisions & Contingencies 4,041.10 10,538.80 2966.04 8,307.90

� � � � ; - � 5 / Add:

8 � � � � ! � 8 � � � � � - � � � � � � < � � � = � � / Depreciation on Fixed Assets 66.64 62.78

"# � � � � � " � � � � � � � - � � � � � � � � � � � � � � � � � > �� � � � � � " � � � � � � ( � � � ! � 8 � � � � � - ! � ) � � � � � � � � � � ! � - � � - � � � � � � � � � + � � � � � � < � � + ?

a. Cash Profit generated from operations

(prior to changes in operating

assets and liabilities) 1,992.08 1,648.54

� � � � � � � � � � � ! � - � � - � � � @ � � � � � � � ?

b. Increase /( Decrease) in Liabilities

� � � � � � � � � $ � � � � / Deposits 25,831.42 21084.21

! � � � � � � � � � � � � � � � 0 � � � � / � � � � / Other Liabilities & Provisions 525.59 26,357.01 342.06 21,426.27

( � � ! � 8 � � � � � - � � - � � � � � � � � � @ � ?

c. Decrease /( Increase) in Assets

! � , � � � / Advances (22,017.70) (12,805.95)

� � � � � � $ � / Investments (4,862.88) (8,802.31)

! � � � ! � 8 � � � � � / Other Assets (886.05) (27,766.63) 71.10 (21,537.16)

����� �����2����2��������3����4�������������"#����0�������("#+/�+2�)

Net Cash Flow from

Operating Activities (a+b+c) 582.46 1537.65

�����5��2��������3����4������"#����0������

Cash Flow from Investing Activities

� � � � � ! � 8 � � � � � - � � � � � � A � � � 7 � � � � � 3 4 � � � / Sale/disposal of fixed assets 2.65 0.94

8 � � � � ! � 8 � � � � � - � � � A � � � / Purchase of fixed assets (98.10) (72.08)

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128

/� �����5��2��������3����4�������������"#����0������B Net Cash Flow from Investing Activities (95.45) (71.14)

���6�����-����2��������3����4������"#����0������Cash Flow from Financing Activities% / � � � � / Borrowings 1,482.70 486.54% / � � � � � � � � 1 � � � � � / Interest on Borrowings (493.90) (376.30)�����������������������������Share issued at permium to Government 670.00� � � > � � $ � � � � � � � � 9 : � � ? / Dividends (including tax) (287.44) (130.66)3 4 � � � �-ii 1 � � � � � � � � � � ( � + � � � � � 1 � � � � � � � � � � � 1 � � � � /Issue of Tier-ii Bonds & Perpetual Bonds — 1100.00

2� ���6�����-����2��������3����4�������7������rlJ˜��"#���C Net Cash generated from Financing Activities 1,371.36 1,079.58

��-�'�"�#����������"#����"#����0�������("#+/�+2�)Total Cash Flow during the year (A+B+C) 1,858.37 2,546.09

8� ��-�'�"�#������.��&�4��"#�����������"#������&������D Cash and Cash equivalent at the

beginning of the year> � � � � � � � � � � � � & � � � + 1 � B � � � � � vtm � � � � � � � � � � � � $ � � * �Cash and Balances with RBI 7,183.85 5,115.381 � B � � � - � � - $ � � * � ! � ) � � � � � ( � � � � � � ! � � � � < " � � � � � � � � � � � � / � � �Balances with Banks and Moneyat Call and Short Notice 1,999.00 1,521.38"#�� / Total 9,182.85 6,636.76

9: ��-�'�"�#������&�4��"#�����������"#������&������E Cash and Cash equivalent at the

end of the year> � � � � � � � � � � � � & � � � + 1 � B � � � � � vtm � � � � � � � ! � ) � � $ � � * �Cash and Balances with RBI 7,901.33 7,183.851 � B � � � - � � - $ � � * � ! � ) � � � � � ( � � � � � � ! � � � � < " � � � � � � � � � � � � � / � � �Balances with Banks and Moneyat Call and Short Notice 3,139.89 1,990.00"#�� / Total 11,041.22 9,182.85��-�'�"�#����������"#����"#����0�������;9:+8�<Total Cash Flow during the year (E-D) 1,858.37 2,546.09

��&���"#����"#����0�����������������;������111< / Consolidated Cash Flow Statement (Contd.…)

��������� / Particulars 2010-11 2009-10

Y. ce. CÕtatgo

�������&�������5���6�����������������������7����8A. B. BhattacharjeeGeneral Manager

(Finance & Accountsand CFO)

9:�;�����������%���������!�)�*����

(D. SARKAR)Executive Director

���;���;�!�����������%���������!�)�*����(M. R. NAYAK)

Executive Director

���;����;���"!������������������&�������5���6�������������8

(S. L. JAIN)Assistant General Manager

(Finance & Accounts)

�<� ��� � � � � � � � � � � � � � � � � � � � � � � � � � � � � �/For Sudit K Parekh & Co.

��!�)*����������� /Chartered Accountants��=%������=%����;����;/ICAI Regd No: 110512 W

� � � � � � � � � � � � � � � � � ) (Srikant Jilla)���>%?!� / Partner

��)*��� ������;/ Membership No.-39461

�<� �����������9:����������>@?��For P A & Associates

��!�)*����������� / Chartered Accountants��=%������=%����;����;/ICAI Regd No:313085 E

5�)*�������A������1������8(Dillip Kumar Agarwalla)

���>%?!� /Partner��)*��� ������;/ Membership No.-55420

�<� ������;���;�!�����0����9:����;For M. R. Narain & Co.

��!�)*����������� / Chartered Accountants��=%������=%����;����;/ICAI Regd No: 002330 S

�5���;��!�;�������>?���!�8�(M N Venkatesan)���>%?!� / Partner

��)*��� ������;/ Membership No.-22993

�<� �������B��������9:����;For S. Ghose & Co.

��!�)*����������� /Chartered Accountants��=%������=%����;����;/ICAI Regd No: 302184 E

5-�!)*!��-�>?@>?�����������8�(Chandan Chattopadhay)���>%?!� / Partner

��)*��� ������;/ Membership No.-51254

�<� ������;����;��1���������9:����;For K. M. Agarwal & Co.

��!�)*����������� /Chartered Accountants��=%������=%����;����;/ICAI Regd No: 0853 N

5���;����;����C��8(C. P. Mishra)���>%?!� /Partner

��)*��� ������;/ Membership No.-073009

�<� ������;����;���"!����9:����;For M. C. Jain & Co.

��!�)*����������� /Chartered Accountants��=%������=%����;����;/ICAI Regd No: 304012 E

5��A�������A�������>?����8(Mukesh Ku Patawari)

���>%?!� /Partner��)*��� ������;/ Membership No.-056623

� � � � � / Place: � � � � � � � � � � � � / Kolkata� � � � � � � � / Date: 2nd May,2011

�!�)�*���� / Directors:

� � � � � � � � � � � � � � � � / Sh. S Ramaswamy� � � � � � � � � � � � � � � � � � � � � / Smt Sukriti Likhi� � � ! � � � � � � " � � � � � � # � � � /Sh. R M Chaturvedi9:�D; $ � � � � � � % & � ' � � � � � � � ! � � � � �Dr. Shakeel-Uz-Zaman Ansari� � � ( � � ) � � � � � � / Sh. Gour DasC���=uJuëJh fwUbth��������� / Sh. Deveswar Kumar Kapila9:�D;�Jkm; ctcqhtJ����"����+���/ Dr. Vasant Baburao KaujalgiC�����A)*����-��"��� / Sh. Sudip Chaudhuri

��������������������������������������� ������ / As per our report of even date

su. ve. =qyt

��������������&������!�)�*����J. P. DUA

Chairman & ManagingDirector

���������������(� in Crore)

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129

����� ���%�+����=���SCHEDULE 1 - CAPITAL

0 � � � / � � � � � � � C < � � � 7 Authorised Capital 3,000.00 3,000.00

� � � ( � + � � � � � � � C < � � � � D E . F G . H I . D H J $ � � � � � � 0 � � � � � � � K L � H M ?Issued Capital 47,62,15,418 Shares of Rs.10.each

� � � � N O � � � � � * � + D D . F E . M M . M M M $ � � � � � � 0 � � � � � � � K L � H M ?(Previous Year 44,67,00,000 Shares of Rs.10.each) 476.22 446.70

! � > � � � 6 � � � C < � � � � D E . F G . H I . D H J $ � � � � � � 0 � � � � � � � K L � H M ?Subscribed Capital 47,62,15,418 Shares of Rs.10.each

� � � � N O � � � � � * � + D D . F E . M M . M M M $ � � � � � � 0 � � � � � � � K L � H M ?(Previous Year 44,67,00,000 Shares of Rs.10.each) 476.22 446.70

� � � ( � � ( � P + � � C < � � � � D E . F G . H I . D H J $ � � � � � � 0 � � � � � � � K L � H M ?Called-up Capital 47,62,15,418 Shares of Rs.10.each

� � � � N O � � � � � * � + D D . F E . M M . M M M $ � � � � � � 0 � � � � � � � K L � H M ?(Previous Year 44,67,00,000 Shares of Rs.10.each) 476.22 446.70

2 � 3 4 � � 5 ! � � 6 � � � � ( � - / Less: Calls unpaid - -

� � � � ; - � 5 � � 1 � � $ � � � � � � / Add: Forfeited shares - -

����� / Total 476.22 446.70

����� ���)�+�0�����>�����������������3�5��-�SCHEDULE 2 - RESERVES & SURPLUS

�������������������� ����� / Statutory Reserves 1,987.39 1,627.39

��������������� ����� / Capital Reserves 1,214.93 1,219.96

�������!�����vâqse ��thrGr;gtk / Capital Reserves on Consolidation 70.31 70.31

���������������� / Share Premium 1,360.48 720.00

�������������!���������� ����� / Revenue and other Reserves 3,361.48 2,617.84

���#�����������!����� �����(�������% Balance in Profit and Loss Account 262.62 261.77

����� / Total 8,257.21 6,517.27

����� ���)��+��������/��"#� �����SCHEDULE 2A - MINORITIES INTEREST

�����J�!�A���+������&����������2� � �����(���!�������� ��,��������������������&�����Minority interest at the date on which the parent -

subsidiary relationship came into existence NIL NIL

���� �K���<�G*�4�������4 Subsequent increase / decrease NIL NIL

�A��!����I������ ������������������������&������/ Minority interest on the date of Balance Sheet NIL NIL

� ���&'�� SCHEDULE�������������/ As on �������������/ As on

31.03.2011 31.03.2010 ��������������� ���������������(� in Crore) (� in Crore)

���������Particulars

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130

����� ���$�+���>����SCHEDULE 3 - DEPOSITS

fU/ A. I. ����+���!������ / Demand Deposits

(I) &�'������ / From banks 47.90 57.14(ii) �!������ / From others 9,108.12 8,258.40

II. &�-� ��&�'����!������ / Savings Bank Deposits 35,000.43 28,271.18

III. ������)*���!������ / Term Deposits - -

(I) &�'������ / From banks 812.85 912.93

(ii) �!������ / From others 86,912.86 68,551.09

������/ Total (I, II, III) 131,882.16 106,050.74

B. (i) #�� ����(�2�,� ����������(������!������ / Deposits of branches in India 131,500.99 105,768.64

(ii) #�� ������&�����2�,� ����������(������!������ / Deposits of branches outside India 381.17 282.10

������/ Total (I and II) 131,882.16 106,050.74

����� ���?�+�@3����SCHEDULE 4 - BORROWINGS

I. #�� ����(� ��� / Borrowings in India

(I) #�� ������$���%�&�'���4 Reserve Bank of India 250.00 -(ii) �!���&�'�� / Other banks 312.17 -(iii) �!�������,������������#���0� / Other institutions and agencies 131.51 12.84

(iv) +��"0��!�����!������&��������)*��./0������� �4Subordinated Innovative Perpetual Debt Instrument. 300.00 300.00

(v) +��"0��./0�J������>?��JII���������//Subordinated Debt - Upper Tier II Capital 1,000.00 1,000.00

(vi) +��"0��./0�J��>?��JII���������/ Subordinated Debt - Tier II Capital 2,611.90 2,711.90

II. #�� ������&����� ��� / Borrowings outside India 2,312.60 1,410.74

����� / Total (I and II) 6,918.18 5,435.48 ����A%L��I���"�II���(���2������ ����� �#�� �� ���Secured borrowings included in I and II above - -

����� ���A�+���������������������0����3���SCHEDULE 5 - OTHER LIABILITIES AND PROVISIONS

I. ���)�*����&��� / Bills payable 387.12 394.28

II. �� �J������%�����!�������������!��5�!�����8 / Inter -office adjustments (net) 242.69 185.39

III. ���-� ��&����� / Interest accrued 544.72 410.07

VI. ���,��+� �����)�*�� ���� / Deferred Tax Liabilities 75.86 23.97

V. �!���5��������!������� �8 / Others (including provisions) 2,823.76 2,490.21

�A��� / Total 4,074.15 3,503.92

����� ���B�+�.�������������C���'� �!"#�&�4��"#����������5��-�SCHEDULE 6 - CASH AND BALANCES WITH RESERVE BANK OF INDIAI. ����H:������ 5���)�*������(����!���>?�mrn;8/

Cash in hand (including foreign currency notes) 356.79 379.95

II. #�� ������$���%�&�'�����(������ / Balances with Reserve Bank of India - - (i) -��������� �����( / In Current Account 7,544.55 6,803.90

(ii) �!������ ��(���( / In Other Accounts - -

�A��� /Total (I & II) 7,901.34 7,183.85

� ���&'�� SCHEDULE�������������/ As on �������������/ As on

31.03.2011 31.03.2010 ��������������� ���������������(� in Crore) (� in Crore)

���������Particulars

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131

����� ���+�D� �!"#�4�&�4�����5��-��������&���2����������������� ���������������3��SCHEDULE 7 - BALANCES WITH BANKS AND MONEY AT CALL & SHORT NOTICE

I. #�� ����( / In India

(i) &�'���(���(��� ������ / Balances with banks

(a) -��������� ��(���( / In Current accounts 255.85 341.06

(b) �!������������ ��(���( / In Other Deposit accounts 191.72 303.96

(ii) ����+�� �,�����������-�!������)*������!� / Money at call and short notice - -

(a) &�'���(���( / With banks 942.30 3.71

(b) �!�������,��ytü���( / With other institutions 240.00 -

����� / Total (i & ii) 1,629.87 648.73

II. #�� ������&���� / Outside India

(a) -��������� ��(����� / In Current account 823.26 429.82

(b) �!������������ ����������/ In Other Deposit accounts - -

(c) ����+�� �,�����������-�!������)*������!� / Money at call and short notice 686.76 920.45

����� / Total 1,510.02 1,350.27

����������(� / Grand Total (I & II) 3,139.89 1,999.00

����� ���E�+������3���SCHEDULE 8 - INVESTMENTSI. )�����������!�� �*�� � / Investment in India in

(i) ���������� �#��� ����� / Government securities 35,139.73 31,023.12

(ii) �!����!�A�����)* ����� �#��� ����� / Other approved securities 120.04 138.27

(iii) ����� / Shares 445.53 474.72

(iv) �9:&�(-����"�&�������I� / Debentures and Bonds 2,395.28 1,649.74

(v) �!�A���rdgtü ��(�����!����!� / Investment in Associates 226.38 199.57

(vi)�!���(ögwawyÖt VUàzTm gqxeytRo ytr=) / Others (Mutual Funds, UTI etc) 5,173.49 5,152.15

����� /Total 43,500.45 38,637.57

II. #�� ������&���������!����!� / Investments outside India in

(i) ���������� �#��� �gtk�5�,��!�����Œtr��fUhKtuk������ �8Government securities (including local authorities) - -

(ii) �!�A���rdgtü���(�����!����!�Investment in Associates - -

(iii) �!�������!����!� / Other Investments - -

�A��� /Total - -����������(� / Grand Total (I) & (II) 43,500.45 38,637.57III. #�� ����(�����!����!� / Investment in India

(i) ����!����!������������������� / Gross value of Investments 43,802.01 38,893.50

(ii) ����������� �A����������������!� / Aggregate of Provisions for Depreciation 301.56 255.93

(iii) �!����������!����!� / Net Investment 43,500.45 38,637.57(iv) #�� ������&���������!����!� / Investment outside India

(i) ����!����!������������������� / Gross value of Investments - -

(ii) ����������� �A����������������!� / Aggregate of Provisions for Depreciation - -

(iii) �!����������!����!� / Net Investment - -

� ���&'�� SCHEDULE�������������/ As on �������������/ As on

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����� ���F�+���G�&�SCHEDULE 9 - ADVANCES

fU/A. (i) M�����������+��������#�A!����+����&��� / Bills purchased and discounted 4,054.35 2,184.15

(ii) !���)*��./0�N������9:O�P>?���"�����+�������� ����)*����./0�Cash credits, overdrafts and loans repayable on demand 40,513.97 29,805.32

(iii) ������)*��./0� / Term loans 49,057.53 39,618.68

����� /Total 93,625.85 71,608.15

��/B. ��� �%����� �������Q*������ �#�� �´/ Secured by tangible assets -

5&�����./�0�������1��������� �8�/ (includes advances against book debts) 77,689.18 57,599.15(ii) &�"���4��������� ���#��� �������Q*��������� ��/

Covered by Bank/ Government Guarantees 3,451.45 1,705.80(iii) &����R���!� ���/ Unsecured 12,485.22 12,303.20

����� / Total 93,625.85 71,608.15

+�/C. I. #�� ����(���1��� / Advances in India -

(I) ���,������ ������� �����I� / Priority sector 30,763.73 24,279.35

(ii) �����%���!�������I� / Public sector 14,786.64 9,147.86

(iii) &�'�� / Banks - -

(iv)�!�� / Others 45,172.50 37,335.29

����� / Total 90,722.87 70,762.50

B�/D. II. #�� ������&�������1��� / Advances outside India -(I) &�'�������=ug / Due from banks 1,979.10 373.62(ii) �!�������=ug / Due from others - -

(y/a) ���)�*���"�#�A!����+����&��� / Bills purchased & discounted 69.98 68.04

(yt/b) S���9:���>?�./0� / Syndicated Loans 749.87 334.21

(R/c) �!�� / Others 104.03 69.78

����� / Total 2,902.98 845.65

����������(���Grand Total 93,625.85 71,608.15

����� ���%*�+�����������������=SCHEDULE 10 - FIXED ASSETS

I. ����� / Premises� � < � � + � � � � Q � � * � + � � � R H � � � " � + fUe rô:r; fuU ylwmth � � � ( � � � � � �At cost as on 31st March of the preceding year 1,002.61 999.93����%�����)*�"�!���������%!� / Additions during the year 0.81 1.45����%�����)*�"�!��vwlbqoÖgtkrfU; / Revalued during the year - -����%�����)*�"�!����>?�" �� / Deductions during the year 1.20 -��������� ������ ����yJGg / Depreciation to date 72.07 65.00����� / Total I 930.15 936.38IA. �!����%0�����!������� / Premises under construction - 1.11II. �!���2�,����2� ������57�!�K-����"��7�P��-������� �8 /

Other Fixed Assets (including Furniture and Fixtures� � < � � + � � � � Q � � * � + � � � R H � � � " � + � � � 8 � � � � � � � � ! � � � � � � � � � � ( � � � � � � �At cost as on 31st March of the preceding year 658.74 586.87����%�����)*�"�!���������%!� / Additions during the year 99.40 72.19����%�����)*�"�!����>?�" �� / Deductions during the year 1.45 0.84��������� ������ ����������� / Depreciation to date 529.69 467.90

����� / Total II 227.00 190.32

� ���&'�� SCHEDULE�������������/ As on �������������/ As on

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IIA. ��>@?>�?����)*��+�=%���2� ����� / Leased Assets

�����%�� �K�����%�����31����-�%�����2�,�� �������!�A�������+� ����At cost as on 31st March of the preceding year 7.30 3.23

�����������!������� ������%�����)*�"�!���������%!�Additions during the year including adjustments 0.75 0.86

��������!������� ������%�����)*�"�!����>?�" ��Deductions during the year including provisions - 0.11

��������� ������ ����������� / Depreciation to date 5.16 0.90

����� /Total IIIA 2.89 3.08

����� / Total ( I, IA, II & IIA ) 1,160.04 1,130.89

III. ��������JJ���+�� ������������%�5��>@?>�?����)*��+�=%���2� �����8���������!�������!�����Capital- Work - in - progress ( Leased Assets ) net of Provisions 0.13 0.46

����� / Total ( I, IA, II, IIA & III ) 1,160.17 1,131.35

����� ���%%�+��������������=SCHEDULE 11 - OTHER ASSETS

I. �� ��������%����������������!��5�!�����8 / Inter-Office Adjustments (net) - -

II. ���-� ��&����� / Interest accrued 710.42 495.04

III. ��1����TU�����(����)*6����4V��� ��������>��+�������Tax paid in advance/tax deducted at source 386.54 239.41

IV. �����!�������1���������>?���� / Stationery and stamps 9.71 8.28

V. )*����(�������� �A2�>?���(����� ������+�=%�+�"J&�'���������2� �����Non-banking assets acquired in satisfaction of claims - 0.03

VI. ���,��+� �������2� ����� / Deferred Tax assets 0.26 0.77

VII. �!�� / Others 1,173.29 650.66

����� /Total 2,280.22 1,394.19

����� ���%)�+���"#��&�"#�=ug;tYkSCHEDULE 12 - CONTINGENT LIABILITIES

I. &�'����������WXG*�)*��������!�(��./0������TU����������������!�������������+�������"

Claims against the bank not acknowledged as debts 2,655.05 937.27

II. ���� �F����)* ���!�������(����������)�*�� �� / Liability for partly paid investments 0.16 0.16

III. &�������������)*������!������������)*���(��������0��)�*�� ��

Liability on account of outstanding forward exchange contracts 39,908.56 37,065.89

IV. 1����������������������)*��+�=%��� ���#��� ������/ Guarantees given on behalf of constituents - -

(a) #�� ����( / In India 4,094.71 4,429.34

(b) #�� ������&���� / Outside India 420.54 446.63

V. ��� �1���0�N���<�YZ����!����"��!���&����� ����Acceptances, endorsements and other obligations 9,273.62 6,162.82

VI. �!�����)(*����!����������&�'�������2������TU��������������)*���"�

Other items for which the Bank is contingently liable 41.84 38.68

����� /Total 56,394.48 49,080.79���1���0����� �A��&����/ Bill for collection 3,984.60 2,944.37

� ���&'�� SCHEDULE�������������/ As on �������������/ As on

31.03.2011 31.03.2010 ��������������� ���������������(� in Crore) (� in Crore)

���������Particulars

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����� ���%$�+��H����� ��������������.���5�SCHEDULE 13 - INTEREST AND DIVIDENDS EARNED

I. ��1����(4�&����(����&�����4&�>@?>?� / Interest/discount on advances/bills 8,274.18 6,398.47

II. �!�������(�������� / Income on investments 2,679.45 1,951.22

III. #�� ������$���%�&�'�����(��� ���������"��!����� �J&�'����!�������(����&�����

Interest on balances with Reserve Bank of India and other inter-bank funds 54.74 25.17

IV. �!�� / Others 74.16 2.32

����� /Total 11,082.53 8,377.18

����� ���%?�+���������SCHEDULE 14 - OTHER INCOME

I. �������!�N�����!��������"�)*������ / Commission, exchange and brokerage 778.95 649.97

II. #�����N�#���!��(� �,����!�����2� ����(��������M����������#�

Profit on sale of land, buildings and other assets 0.30 0.03

B�>?���F�#�����N�#���!��(� �,����!�����2� ����(��������M�����������!�

Less: Loss on sale of land, buildings and other assets (0.04) (0.59)

III. ����!���������!�)�*!��(�������#��/ Profit on exchange transactions 84.30 58.13

B�>?���F�����!���������!�)�*!��(��������!��/�Less: Loss on exchange transactions (11.27) (9.64)

IV. ����!����!��(�5�!�����8 fUu ���M����������#��/ Profit on sale of investments(net) 166.16 765.52

B�>?���F�����!����!��(��������M������������!��/ Less: Loss on sale of investments (0.24) (186.79)

V. ����!����!������������!����%�������!��������#��/ Profit on revaluation of investments - -

B�>?����F�����!����!������������!����%�������!���������!�/ Less: Loss on revaluation of investments (1.44) (0.01)

VI. a) ��>@?>?�J���6���������� / Lease finance income - -

b) ��>@?>?����&����!����A��� / Lease management fee - -

c) �� �)�*�����#�� / Overdue charges - -

d) ��>@?>?����������������������vh�&����� / Interest on lease rent receivables - -

VII. ������������� / Miscellaneous income 347.25 263.34

����� / Total 1,363.97 1,539.96

����� ���%A�+��������"#����2����� �����

SCHEDULE 15 - INTEREST EXPENDED

I. ������������(����&����� / Interest on deposits 6,497.70 5,341.86

II. #�� ������$���%�&�'��4�� �J&�'��� ����(����&�����Interest on Reserve Bank of India/ inter-bank borrowings 48.21 39.73

III. �!��R /Others 445.69 336.57

����� / Total 6,991.60 5,718.16

� ���&'�� SCHEDULE

�������!�+��/ Year Ended �������!�+��/Year Ended31.03.2011 31.03.2010 ��������������� ���������������(� in Crore) (� in Crore)

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135

����� ���%B�+������ �����������SCHEDULE 16 - OPERATING EXPENSES

I. ����%-������(������#�A+� ��!�� �,��� !������������������!�Payments to and provisions for employees 1,558.97 1,020.82

II. #��H:�N�������������!�� / Rent, taxes and lighting 201.97 179.73

III. ��A[*0����"������!�������1�� / Printing and stationery 22.02 21.47

IV. ���\����!����"���-�� / Advertisement and publicity 35.85 24.65

V. 5��8���>@?>?����2� ����k������= ��&�'����������������6����(�����������(a) Depreciation on Bank’s property other than Leased Assets 66.64 65.14

V. (��)��>@?>?����2� �����ü�����������4(b) Depreciation on Leased Assets - -

VI. �!�)�*�����(�����7����N�#�6�����"������ / Directors’ fees, allowances and expenses 1.32 1.05

VII. ��������������(�����7�������"������4 Auditors’ fees and expenses 17.94 16.16

� $ � � � � � � � � � � � � � � � � S � � � � � � � � T � � � ! � ) � � � � � � � � � 9 : � � ?(including branch auditors’ fees and expenses) - -

VIII. ���������#�� / Law charges 13.70 11.77

IX. 9:���N� ��N�>�?���7���!�����)* / Postage, telegrams, telephones, etc. 24.52 23.70

X. ����� ����"��!�A��0� / Repairs and maintenance 41.33 25.11

XI. &����� / Insurance 93.34 75.93

XII. �������������������!�N����)*�����=%�����4 Amortisation of Goodwill, if any - -

XIII. �!�������� / Other expenditure 329.28 188.36

����� /Total 2,406.88 1,653.89

����� ���%D�+������"#����5�SCHEDULE 17 - Share of Earnings

��-���2����4�&�4�������I�Loss in Associates - -

��-���2����4�"#�� ��������I�Details of Associates - -

��&� / Name

���)*��1�����0��&�'�� / Sharda Gramin Bank 9.02 7.37

˜FlQ ���I�����1�����0��&�'�� / Lucknow Kshetriya Gramin Bank - 36.03

�I����0������I���� 1�����0��&�'�� / Triveni Kshetriya Gramin Bank - 20.69

=������&��)*��������1�����0��&�"����/ Allahabad UP Gramin Bank 70.20 13.82

����� / TOTAL 79.22 77.91

RÖttntct= cîfU fUt ykN / Allahabad Bank’s share 27.72 27.27

� � � N O � � � � � * � � U � � � 1 � � / � � � � � � � � � � � � � � � / Adjustment relating to earlier years (1.99) 0.48

� � * � + � � � � � � ) � � � � � � � � � � � � � � � � � � / Considered during the year 25.73 27.75

� ���&'�� SCHEDULE

�������!�+��/ Year Ended �������!�+��/Year Ended31.03.2011 31.03.2010 ��������������� ���������������(� in Crore) (� in Crore)

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RELEVANT PRINCIPAL ACCOUNTING POLICIESON THE CONSOLIDATED ACCOUNTS

1. Basis of Accounting:

(i) The financial statements have been prepared under thehistorical cost convention and accrual basis of accounting,unless otherwise stated and are in conformity with thestatutory provisions and generally accepted accountingprinciples.

(ii) The financial statements also conform to the guidelinesissued by the Reserve Bank of India (RBI) from time totime in respect of income recognition, asset classification,provisioning and other related matters. Accountingstandard and pronouncement issued by the Institute ofChartered Accountants of India and accounting practicesprevalent in the Banking Industry in India.

2. Consolidation procedure:

(i) The Consolidated financial statements of the Bank, itssubsidiary and its associates have been prepared tocomply, in all material aspects, in accordance with theAccounting standards issued by the Institute of CharteredAccountants of India, guidelines issued by the respectiveregulatory authorities and generally accepted accountingprinciples and policies prevailing in India except otherwisestated.

(ii) The following subsidiary has been consolidated as perthe Accounting Standard 21, “Consolidated FinancialStatements”

(iii) The following associates and Joint ventures have beenconsolidated as per the Accounting Standard 23,“Accounting for Investments in Associates in ConsolidatedFinancial Statements” and Accounting Standard 27,“Financial Reporting of Interest in Joint Ventures” issuedby the Institute of Chartered Accountants of Indiarespectively:

��������������� �� ���������� �������� ���������������

Name of the Entity Country / Residence Relationship Ownership Interest

������ ��������������� ������� �������� ���������

Sharda Gramin Bank India Sponsor Bank 35%

!"��������� ���#$����������������� ������� �������� ���������

Allahabad UP Gramin Bank. India Sponsor Bank 35%

��#������%"������$���� ����"��!�������&������$�����"���'�()* ������� +�������+'(

Universal Sompo General InsuranceCompany Ltd. India Joint Venture 30%

++��,���!%����-!��)*���.�/"� ������� mkgw¢; W‘b

ASREC (India) Ltd. India Joint Venture 27.04 %

��������������� �����������������������������������������������

�� ���������

-��. ���0��������������1� ������,������23""��4����������1�"��4���������$����$����5���"��5����$����$��'(��+����2$��6����,�������$����������������������������������&+�������������7����������%��"��4������8 �����&������,�9:;$����������,�<�������9����������5������<�=

-4�. ���0����� ����������,����,���>���1�,������ ��5�?������1� ����������������������,������������������"��&��&������@������$���� �������������������� ���%������-,������,�!%.������� �������A ���&���������$�93B'(����������<�=��������������� ��"��4�����������������C ����� ������"��4���������+����2�D E���B����+������������������/��5��2F��5���&���6��"����"��4�������������=

��������������������

(i) �����1�!������,�9B��5���,�<���+�������+'D(��������������������0��������������1��������������� ��"��4�����������������C ����� ������"��4���������&1������������������������������������&�C ����� ������ ��� ������A ���&�,�<��������������������G���� "��4��� ���8 �����&� +���� �������� �&� ��6��"���� ����������� ���� ����,������2�""��4�����������,�9$��"��������������,�9������������������$�#��%$���"�9,����������������<���������+�5�+����=

(ii) ����"��4����,�9B��5��������"��4���������HI�“�������������0��������������”����,�9�����������������������5������<�7

(iii) ����"��4����+�������+'(��,�<��������9J��2F����������������� ��"��4����������������C ����� ������"��4���������HK�“�������������0���������������&��&+�������+'D(����&� ������������"��4��”��+����"��4��� ������HL1�“�����9J�2F��&� �&� ������ ���� ���0����� ���$���M'(5�”� ���� ,�9������ ���������� ���+5�+����=

���$����������� �� ����������� �������� ���������������Name of the Company Country / Residence Relationship Ownership Interest

,�"��������N��!�&����"���'�()* ������� ,�9B��5�� 100%AllBank Finance Limited India Subsidiary 100%

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137

3. Disclosure of significant accounting policies

The accounting policies mentioned primarily relate to the Bankentity. The Bank has a subsidiary which is registered with theSEBI as a Class I Merchant Banker and one Joint VentureCompany is in the business of non-life insurance. Thesubsidiary and Joint Venture Companies follow accountingpolices prescribed by their governing regulators. These havenot been specified separately as these investments are notmaterial in the context of the overall financial statements.

4. Transactions involving Foreign Exchange:

4.1 Branches / Offices outside India

(i) Foreign Branches are classified as “Non-integral ForeignOperations” and their financial statements are translatedas follows:

� Both monetary and non-monetary Assets and Liabilitiesas well as Contingent Liabilities at the closing spot ratesnotified by the Foreign Exchange Dealers Association ofIndia (FEDAI) at the end of each quarter.

� Revenue items are translated at the quarterly averageclosing rate notified by FEDAI at the end of respectivequarter.

� All resulting exchange difference is accumulated in aseparate account ‘Foreign Currency Translation Reserve’.

(ii) Operations of representative offices abroad are classifiedas “Integral Foreign Operations” and their financialstatements are accounted for as follows:

� All monetary Assets and Liabilities, Guarantees,Acceptances, Endorsements and other obligations aretranslated to Indian rupee equivalent at the spot exchangerates prevailing at the end of each quarter as per FEDAIguidelines.

� Non-monetary items are translated at exchange rateprevailing on the date of transaction.

� Revenue items are accounted for at the exchange ratesprevailing on the date of transaction.

� All resulting exchange differences are accounted for inProfit & Loss Account.

(iii) Advances will be classified under categories in line withthose of Indian Offices. Provisions in respect of advanceswill be made as per the local law requirements or as perthe norms of RBI, whichever is higher.

4.2 Branches in India

(i) Foreign currency balances whether of assets or liabilities[including deposits mobilized under FCNR Scheme,EEFC Scheme, RFC Scheme etc.] and outstandingforward exchange contracts are converted at quarter endrates as advised by Foreign Exchange Dealers’Association of India (FEDAI).

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138

The resultant profit/loss on revaluation of forwardexchange contracts and NOSTRO accounts is taken torevenue as per FEDAI guidelines.

(ii) Income and Expenditure items relating to foreign currencyare converted using the exchange rate prevailing as onthe date of transaction.

(iii) Acceptances, endorsements and other obligationsincluding guarantees are stated at FEDAI advised ratesprevailing at the end of each quarter.

5. Investments:

(i) Investments are classified in accordance with RBIguidelines under three categories viz. “Held to Maturity”,“Held for Trading” and “Available for Sale”.

(ii) Under the above three categories, Investments are furtherclassified into the following six groups :

1. Government Securities,

2. Other Approved Securities,

3. Shares,

4. Debentures & Bonds,

5. Subsidiaries/ Joint Ventures and

6. Others

(iii) a) Investments that the Bank intends to hold till maturityare classified as Held to Maturity.

b) Investments that are held principally for resale within90 days from the date of purchase are classified as Heldfor Trading.

c) Investments, which are not classified in the above twocategories, are classified as Available for sale.

d) An investment is classified as Held to Maturity, Heldfor Trading or Available for sale at the time of its purchaseand subsequent shifting amongst categories is done inconformity with regulatory guidelines.

e) Investments in subsidiaries, joint ventures andassociates are classified as Held to Maturity.

(iv) Investments classified as ‘Held to Maturity’ (other than inRegional Rural Banks) are carried at acquisition cost. Incase the acquisition cost is higher than the face value,the excess is amortized over the period remaining tomaturity and provision is made for:

Depreciation in the value of debentures / bonds whichare deemed to be in the nature of advances by applyingthe RBI prudential norms of asset classification andprovisioning applicable to advances.

Diminution, other than temporary, in the value ofinvestments in subsidiaries / joint ventures.

(v) Investments classified as “Held for Trading” are revaluedscrip-wise at monthly interval and resultant net

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139

depreciation is recognized and net appreciation, if any,is ignored under each classification. The book value ofthe individual scrip is not changed with the revaluationas indicated above.

(vi) Investments classified as “Available for Sale” are markedto market scrip-wise at quarterly intervals and resultantnet depreciation is recognized and net appreciation, ifany, is ignored under each classification. The book valueof the individual scrip is not changed with the revaluationas indicated above.

(vii) Investments in Regional Rural Banks are valued atcarrying cost.

(viii) In respect of non-performing securities (where interest/principal is in arrears for more than 90 days) income isnot recognized and appropriate provision is made fordepreciation in the value of the securities by applyingprudential norms of asset classification and suchdepreciation is not set-off against the appreciation inrespect of other performing securities.

(ix) Cost of acquisition of investments:

� is net of incentives/commission and front-end feesreceived in case of securities subscribed, and

� excludes commission, brokerage, securities transactiontax and stamp duty.

(x) Profit/loss on sale of investments is recognized in theProfit and Loss Account. An amount equivalent to theprofit on sale of investments under “Held to Maturity”category is first taken to the Profit and Loss Account andthereafter, appropriated to the “Capital Reserve Account”.

(xi) For the purpose of determining market value ofinvestments, Stock exchange quotations or rates put upby FIMMDA/PDAI are adopted. In absence of suchquotations/rates, the market value is determined byapplying appropriate Yield to Maturity rates as prescribedby FIMMDA / PDAI or as per norms laid down by theReserve Bank of India.

(xii) As per RBI guidelines, the different categories of Swapsare valued as under:

� Hedge Swaps

Interest rate swaps which hedges interest bearing assets orliabilities are accounted for on accrual basis except the Swapsdesignated with an assets or liability that is carried at marketvalue or lower of cost or market value in the financialstatements.

Gains or Losses on the termination of Swaps are recognizedover the shorter of the remaining contractual life of the Swapor the remaining life of the assets / liabilities.

� Trading Swaps

Trading Swap transactions are marked to market with changesrecorded in the financial statements.

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140

6. Advances:

(i) Advances are classified as performing and non-performing as per guidelines prescribed by RBI and areshown net of provisions for non-performing advances.

(ii) The provision made for standard advances (performing)in terms of RBI guidelines is however included in “OtherLiabilities and Provisions”.

7. Fixed Assets and Depreciation

(i) Premises including Freehold and other Fixed Assets arestated at historical cost except certain Premises, whichare stated at their revalued amount. Selection of assetsfor revaluation is based on a systematic basis.Revaluation is made with sufficient regularity to ensurethat the carrying amount does not differ materially fromthe market value at the Balance Sheet date. Some of thepremises of the Bank experience significant and volatilechanges in fair value, thus necessitating frequentvaluation. However, such frequent valuation is not donefor items of premises with only insignificant changes infair value.

(ii) Capital expenditure incurred during construction periodis included under ‘Other Assets’.

(iii) Depreciation is provided on diminishing balance methodat the rates prescribed in Schedule XIV to the CompaniesAct, 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 additionaldepreciation consequent to revaluation is transferred fromRevaluation Reserve to the Profit & Loss Account.

(v) Premium on leasehold land is amortized over the periodof the lease.

(vi) Depreciation on Fixed Assets of foreign branches isprovided as per the applicable laws prevalent in that country.

8. Intangible Assets (Computer Software)

(i) Software for a computer that cannot operate without thatspecific software is an intangible part of related hardwareand is treated as fixed assets. Where the software is notan integral part of the related hardware, Computersoftware is recognised as an Intangible Asset.

(ii) Computer software acquired from vendors is recognisedas Intangible Asset only if the value /cost of the softwareis more than Rs.10 Lakhs. Such intangible assets areamortised over its effective life subject to a maximumperiod of ten years.

9. Employee Benefits:

(i) The Bank has applied Accounting Standard 15(Revised)- Employees Benefits, issued by the Institute of CharteredAccountants of India, for recognition of its liabilities inrespect of employee benefits.

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141

(ii) Liability towards long term defined employee benefits –Pension, Gratuity, Leave Encashment, Leave FareConcession and Sick Leave are determined based onactuarial valuation by independent actuaries at the yearend by using Projected Unit Credit method. Liability sodetermined is funded in the case of Pension and Gratuity,and provided for in other cases.

(iii) In respect of Provident Fund, the contribution for the periodis recognized as expense and charged to Profit & Lossaccount.

(iv) Short term employee benefits are recognized as anexpense at an undiscounted amount in the Profit and LossAccount of the year in which the related services arerendered.

(v) Expenditure towards ex-gratia and additional contributionin respect of gratuity and pension under VoluntaryRetirement Scheme (VRS) is treated as DeferredRevenue Expenditure amortized over a period of five yearsin terms of RBI guidelines.

10. Revenue Recognition :-

Income and Expenditure are accounted for on accrual basisother than those stated below:

(i) Interest and Other Income on advances classified as non-performing assets are recognized to the extent realized.

(ii) Income from interest on refund of Income Tax and InterestTax are accounted for in the year the order is passed bythe concerned assessing officer.

(iii) Expenditure on Follow on Public Offer is considered asDeferred Revenue Expenditure and is amortised over aperiod of five years.

11. Lease

Rentals received by the Bank are recognized in the profit andloss account on accrual basis.

Lease payments for assets taken on operating lease arerecognized as an expense in the profit and loss account.

12. Earnings Per Share

Basic and Diluted Earnings per Equity Share are reported inaccordance with the Accounting Standard 20 “Earnings pershare” issued by the Institute of Chartered Accountants of India.Basic earnings per equity share are computed by dividing netincome by the weighted average number of equity sharesoutstanding for the period. Diluted earnings per equity shareare computed using the weighted average number of equityshares and dilutive potential equity shares outstanding duringthe period.

13. Taxation

(i) Provision for tax is made both current Tax (including

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142

Minimum Alternate Tax – MAT) and deferred taxes.Current tax is provided on the taxable income usingapplicable tax rate and tax laws. Deferred Tax Assets andLiabilities arising on account of timing differences andwhich are capable of reversal in subsequent periods arerecognised using the tax rates and the tax laws that havebeen enacted or substantively enacted till the date of theBalance Sheet. Deferred Tax Assets are not recognisedunless there is “virtual certainty” that sufficient futuretaxable income will be available against which suchdeferred tax assets will be realised.

(ii) Minimum Alternate Tax (MAT) credit is recognized asassets only when there is convincing evidence that thecompany will pay normal income tax during the specifiedperiod.

14. Cash and Cash equivalents

Cash and cash equivalent include cash on hand and in ATM’sand balances with RBI.

15. Impairment of Losses (if any) on Fixed Assets (includingrevalued assets) are recognized and charged to Profit &Loss Account in accordance with the Accounting Standard28 “Impaired of Assets” issued by The Institute ofChartered Accountants of India.

16. Contingent Liabilities and Provisions & ContingentAssets

(i) In conformity with AS 29. “Provisions, ContingentLiabilities and contingent Assets”. Issued by the Instituteof Chartered Accounts of India, the Bank recognizesprovisions only when It has a present obligation as a resultof a past event, it is probable that an outflow of resourcesembodying economic benefits will be required to settlethe obligation, and when a reliable estimate of the amountof the obligation can be made.

(ii) No provision is recognized for

a) Any possible obligation that arises from past events andthe existence of which will be confirmed only by theoccurrence or non-occurrence of one or more uncertainfuture events not wholly within the control of the Bank; or

b) Any present obligation that arises from past events but isnot recognized because

i) It is not probable that an outflow of resources embodyingeconomic benefits will be required to settle the obligation;

or

ii) A reliable estimate of the amount of obligation cannot bemade. Such obligations are recorded as contingentLiabilities. These are assessed at regular intervals andonly that part of the obligation for which an outflow ofresources embodying economic benefits is probable, isprovided for, except in the extremely rare circumstanceswhere no reliable estimate can be made.

iii) Contingent Assets are not recognized in the financialstatements as this may result in the recognition of incomethat never be realized

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ii) � � � � � � � � � � - � � � 3 � � � � � � K � � � � � - � � � � � � ! � � � � � � � � 2 � � � � � � � � � � � � � �� � � � � � ( � � � � � � � � � � � � � � * � � � � � � & � ! � � � � � � � � � � � � * � � D E $ � ! � * � � � � + � � � � �� � � � � � � � � � ; � � � � � � � � � � ! � � � � � � � � � � $ � � � � � � � � + � " � � � � � � � � � � � � � � �� � � � � � � � � � � � � � � � � � � � � # � � - / � � � � � � � � � ( � � � � � � � � � � � � � � � � � � � � � � � �� � � � � � � � � � ( � � I � � � � � � / � � � � � � � � � � � � � � � � � * � � . � � � � � � + � � � � � � � / � � � � � � � �# � � � � � � � � � � � � � � � � " � $ � � � & � � � � � � � � � * � � � F G � � N O � � � � � � � � � � � � � � � � � -� � � 3 � � � � � � K � � � � � - � � � � � � ! � � � � � � � � - � � � � � � � � � � � � � � � � � � � �

iii) � � � P � - � � � � � � � � " � � * ! � * � � � & � ! � � � � & � � � � � � * � � � � � / � 0 � � � � � � � � 2 � � � � �� � � � � � � M � � � * � � ; � � � � $ � � � " � � ! � � � � D E $ � ( � � � - � � � � � � � � / � 0 � � � � � � � �� � � � � � � � � � � � � � � / � - / � - � � � � � � � - � � � � 2 � � � � � � � � - �

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143

NOTES ON ACCOUNT TO CONSOLIDATEDFINANCIAL STATEMENTS

1. (i) Adequate provision has been made in respect ofPerforming and Non-performing Advances in terms ofReserve Bank of India (RBI) guidelines.

(ii) Prudential Floating Provision of Rs.48.00 Crores(Previous Year Rs.48.00 Crores) is held as at31.03.2011 in respect of gross Non-performingAdvances over and above the minimum provisionprescribed by RBI with a view to strengthen thefinancial stability of the Bank.

2. (i) Under Inter-Branch reconciliation, initial matching ofentries has been done upto 31.03.2011. Reconciliationof unmatched entries with the balance in BranchAdjustment account and transactions between HeadOffice and branches including branches inter-se is inprogress. Further, in terms of RBI’s circular,segregation of debit and credit entries in Inter BranchAccount pertaining to the period upto 30.09.2010 andremaining outstanding as on 31.03.2011 have resultedin net credit, hence no provision is required.

(ii) At some branches, preparation of details / balancing /reconciliation of accounts relating to Balances withBanks and NOSTRO Accounts are in progress. Sincesubstantial progress has made in the above areas,the management is of the view that the impact ofreconciliation, if any, on the accounts of the Bank willnot be material.

(iii) In terms of RBI directives as contained in theirDBS.CO.SMC.423.22.04.001/97-98 dated March 17,1998, old difference in various Personal & ImpersonalAccount Heads in respect of 330 branches aggregatingnet credit of Rs. 141.39 crores was transferred to HeadOffice during the year 2000 and 2004 and kept in“Contingency Account- General”. The RBI, in terms oftheir DBS.CO.SMC.No. 8002/22.04.001/2010-11 ofDecember 09, 2010, have permitted not to report these330 branches as arrear carrying branches to ReserveBank of India in Bank’s quarterly statement onBalancing of Books.

3. The provision for income tax (including deferred tax)aggregating to Rs.1834.76 Crores (previous year Rs.1322.93 Crores) held is considered adequate after takinginto consideration various judicial decisions on disputedissues.

4. (i) Certain premises were revalued on the basis of thereports of the approved valuers during the year endedon 31.03.1997, 31.03.2005 and 31.03.2007 andupward revision amounting to Rs. 125.99 Crores(commercial and residential), Rs.370.08 Crores(commercial and residential) and Rs. 298.32 Crores(commercial) respectively had been credited toRevaluation Reserve. Depreciation on Revalued

�������������� ������������������������������������

1. (i) ���������������� ��������������������������������������������� �����������!����������������"�#���$�%�������� ���&����'���������(����$)%*

(ii) ����������+����,!�����������#�����-������������ .�����,��/012/13200����,���4���������������"�#������,�5��5'� #�� ���������� ������ �����6����� ��'�� ���� ���-����#� &����'���� ,�� �'��� 781 9:122 ������;<���=>4����?� 7819:122������;<���������@��������,�##���A�4�&����'���������(����*

2. (i) �5�������B��,�#��'��������5��(� ��&���C?DE����������5�����#�4����/012/13200���������(����$)%*���B��,�#����������B�����#�����?����,��!���!��&�'���������� 4�����!�����B�����,�$%�����B������������,�#�����#��4�&���C?DE�������,�#��'��������� &�(�������$)%*F,���������@����������������� ��������������G��������,����/212H13202����������'�����5�������B��4��B��������#����!����#��&���C?DE���������I!�J����K���!��/012/13200����������?����������������K��#�����4���#���������#����$%�L���M����F &����'��������N�����$%O$)%*

(ii) ���=>���B�����#����#��L�"�#�P��5��������� �B��������,�5��5'�#��������K��������)������QB���������#�4����Q,�#��'������������ &�(�������$)%* @�N��G���#��$�%F ���� ����&�(������#�.��������&���5'���������#���$)%����������4��B������,�#��'�������&������L�(���$%������L���C�������$%O$%��(��* ����� @�N��G�#��5���� ����&�(����������B����$%�P&���5'������#���$%)����)5�����B������5����,�#��'�������&������L����$%��L#�$%�����-K� ��$%�5$%��(��*

(iii) ���1��1��)51������������5�������,����L��),����������5�0R#��A� L0HH: ��� ����� S<����P,�1,�����1P,�P#�,��1423.22.04.001/97-98 #��5���#�4�$%)L//2���B�����5���,�5��5'�#��5����T����J��(���P��5����J��(���4��B�����?��� 5#��5����������5����L������7810901/H������;< ����4�UVK�$%)L���� ��?� 3222P��53229������)�����&�'��������� �4�������,!�����5���������������(����!��P��5WW����,#���4��B��X,��#�����WW#��5��B��(����!��*���1��1��)5��������5��2H��,�5����L3202 �� ������ S<����P,�1,�����1P,�P#�,��1 ,�51 8002/22.04.001/2010-11�������,����F��//2���B�����5����P���������4�����B�����5�������#��5��$%����4���������)5�������#��$%�������K�#��5������DE ��$%�5��������������#������$%)*

�� ���������#��#�4���#������T�����������K� ����������A���������������������������$�%��������6�����7810:/91RY������;<���=>4����?� 7810/331H/������;<����,!�(�������,�$%������&����'��������� ���#�����(����*

4. (i) /012/10HHRL/012/1322Z��!��/012/1322R����,�#�����$�%P��?� #��������������,��������vwlbqo4���5��������#�������#�-4���5���������������D E�����'�������������(������)��[�#���M78103Z1HH������;<����K�C�����P��5�����,�����L781/R212:������;<����K�C�����P��5�����,�������!��7813H:1/3������;<����K�C��������� '�� (��#��,�5����'������������#�- 4��������N�������?�#����#�������(����*&���������?� �����#�- 4���5��������,�������#�-4��\�,����������4������4�B���

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144

premises is worked out each year on its written downvalue. Additional depreciation of Rs.4.45 Crores(previous year Rs.4.68 Crores) due to revaluation hasbeen transferred from Revaluation Reserve Accountand shown in Miscellaneous Income under the head“Other Income” included in Schedule No. 14 item (vii).

(ii) Depreciation has been charged on composite cost ofLand and Building, where separate cost of land is notavailable.

(iii) Premium on leasehold land has been amortized overthe period of lease, based on cost or written downvalue, where original cost is not available.

(iv) For the following properties registration formalities areyet to be completed:

a. 2 residential properties purchased during the year 1990& 1998 at Kolkata & Bhubaneshwar consisting of 29 &10 flats respectively with total original cost of Rs.0.86Crores (Previous year Rs.0.86 Crores).

b. 1 leasehold property at Anandlok, New Delhi withoriginal cost amounting to Rs. 0.09 Crores (previousyear Rs.0.23 Crores).

c. 2 landed properties purchased during the the financialyear at Chennai & Hyderabad.

(v) Other Assets include intangible assets, details of whichare as under.

��������� / Particulars 2010-11 2009-10

�!����?�\ Opening Balance 20.05 12.38

��?� ������)�����������'� ��\ Additions during the year 19.19 10.04

��?� ������)�������������'���\ Amortized during the year 3.65 2.37

F�����?�\ Closing Balance 35.59 20.05

5. (i) In respect of Investments of face value of Rs.0.44

Crores (Previous year Rs.0.44 Crores) 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 Rs.770.89 Crores (Previous year

Rs.849.82 Crores).

(iii) As per RBI guidelines, an amount of Rs.NIL (Previous

Year Rs.9.78 Crores) being an amount equivalent to

post tax profit on sale of ‘Held to Maturity’

category securities is transferred to ‘Capital Reserve

Account’.

#�-4�����������������$)%*�����#�- 4���5������������K�781919Z������;<���(�����?� #��78191Y:������;<���������@�#�-4��\�,�������-5�������N�������,���5��������������,�-A��,�5109#���(vii)#��“��������”���?� ����5��(� ������'�����#������� ���(����$)%*

(ii) ��$%�]��-B�5S<���4��(��� ��4��'���$%O$)%LP�,��#��#�4���#�����N�����-B�5S<��!�����������,�5#�^�4��(���������'�� ���������(����$)%*

(iii) ��$%�]#�-4�4��(��� ��4��'���$%O$)%��$%�]��D_EDE����'�$�%�����D_EDE�'��������-#�����&��#���#������������'���4��(�����'���������!�������4�B���#�-4�����������(����ni*

(iv) ��#��4�B���,�5��+����������5�������K���)��A���������P5������-������������$�%M

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��� ����5��4�����L��F ��44��#��P����D_EDE�'������,�5��+���,����#�-4�4��(���781212H������;<$)%<<���=>4����?� 781213/������;�*

d. rJút JMo fuU =tihtl auªtRo YJk ni=htct= bü =tu Cq-mkvrút Fhe=e

dRø>

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��������;<#���Q��In crore�

5. (i) 7812199������;<���(�����?� 7812199������;<�����5����#�-4�����������������,�5��5'�#���������������C,[��,�Q,�bDEa����DE&������������$�%*

(ii) ���������L�������� �����S<���A�������!��FCJ��DE�,�����;�<#���A���4�a5�S<Q���A����)���DE4�a5�S<�����-��DE��,�$%��������������,�����N��"�#�#�����4��������781770.89������;<���(�����?� 781849.82 ������;<���$%�*

(iii) ���������������� �����������������������������,����781H1R:������;<���(��� ��?� 781 33:1R2������;<� ��� �����L ���� �� “$�%4S< D-E#�)A��-��DE�” ^��K�� &�����-������ ��� ��[�� ,�� $%����� ���4�� 4���� ���,�#���������$)%L������-5���&����N���B�����#���5�����������(����$)%*

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145

(iv) In respect of ‘Held to Maturity’ category as stated in

significant Accounting Policy No. 3 (C)(i), the excess

of acquisition cost over the face value of the security

amortised during the year amounts to Rs.83.33 Crores

(Previous year Rs.112.32 Crores) 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. The Bank has not made any financing for margin trading

during the year and also not securitised any assets.

7. During the year, Bank has issued 2,95,15,418 equity shares

of Rs. 10/- each at a premium of Rs. 217/- per share

amounting to Rs. 670.00 Crore (approx.) on preferential

allotment basis to Govt. of India (President of India). Out

of Rs. 670.00 Crore, Rs. 29.52 Crore (approx.) credited to

Share Capital Account and Rs. 640.48 Crore (approx.) to

Share Premium A/c.

8. Compliance with Accounting Standards

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.

8.1. 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:

��������;<#���Q��In crore�

��������� / Particulars 2010-11 2009-10

����\ Income 1.29 (9.34)

����� \ Expenditure 4.01 3.03

����4� / Net (2.72) (12.37)

8.2. The Bank adopted Accounting Standard 15(Revised)-Employee Benefits, issued by Institute of CharteredAccountants of India, for recognition of its liabilities inrespect of employee benefits, viz, Pension (New),Pension (Old), Gratuity, Leave Encashment, LFC andSick Leave w.e.f. 1st April 2007.

8.3. Consequent upon judgement & order passed by theHon’ble Supreme Court of India in finally deciding onthe Bank’s SLP in the matter of its pension(old) schemein lieu of gratuity styled ‘Allahabad Bank Employees’Pension Scheme (Old)’ making it obligatory on the partof the Bank to pay gratuity even to these pensioners,the said Scheme has been discontinued in terms ofapproval of the Bank’s Board of Directors with prior

(iv) ��),����#�$%�����-K� 4��B�������,�5B���/(C)(i),#�� C44�B���$)%L

“$�%4S<D-E#�)A��-��DE�”^��K�����#��#�4��#����?� ������)�������������'���&�����-������5����#�-4�����cd����78183.33������;<���(�����?�

781112.32������;<� ��������@���� �� 4��(��� $)% ��!�� ��,��

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�����$)%��)����$%���,����C,�����&�����-������K������$)%*

�� ��?� ������)����������������4�1YR2122������;<�4�(���(�������������4�� 78102QX &���������� #�-4�� ��� 3HZ0Z90: FCJ��DE� �������78130RQX��� &��#���#� �����'�#���������5DE����'���� ���� �������,����������������������?DfE�����������������P*781YR21������;<#��,�� 7813H1Z3������;< �4�(���(�� ���� ������� ��-5��� B����� #�� ��!��781Y9219:������;<�4�(���(�������������&��#���#�B�����#����#��4�B��(����*

�� ������������������ ��!"#�� ��!�������

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��$ 4��B��#������Z:WW���'�$�%�������4�4�����!����$%���L��-�� ��?� ���#������!��4��B����������5hh

��-�� ��?� ,��,�5��5'���������)����������������K���#������,����$)%:

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���� F4��$%������ ����� ��#� A����� ������� ��������� ����������� #�� "�)A���DE� ���,!�����������������������������#��#�4��#����������P,�P4�������,�5��5'�#���5��#���K� ��������$�%P����������#��������� AA���#��������4���6����������(������)��������������(������������������K��#�,����������������N�#����$%�������� ��������(����$)%����$%F��������������������"�)A���DE�������(�����������*��$%���������,�������������-�� ����#�����)�������������������#�5S<4��������#��������������,������5���������

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146

permission from the Government, w.e.f. October 2010,simultaneously paying gratuity to these pensioner.Hence, further provisioning is neither made nor re-quired in respect of Pension (Old) as on 31.03.2011and in future.

8.4. Out of the accumulated provision for Pension (Old)amounting to � 168.77 Crore as at the time ofdiscontinuation of the Scheme, � 150.00 Crore hasbeen utilised towards provisioning against Bank’sliabilities in respect of Additional Load on account of2nd Option for Pension (ABEPR-1995) by a section ofemployees who were in the Roll of the Bank as on29.09.1995 but did not exercise option for PensionRegulations-1995 earlier. The remaining � 18.77 Crorehas been transferred to ‘Outstanding Liabilities A/C’ toclub with an earlier provision of � 33.00 Crore made inF.Y. 2009-10, towards payment of gratuity incompliance of Hon’ble Supreme Court’s Order, asmentioned in paragraph 17.3.2. above, making totalprovision on this score to the tune of � 51.77 Crore.Out of this, payment to the tune of � 32.61 Crore hasalready been made to those whose names appearedin the Pension Scroll under the Scheme in October2010 and some of the legal heirs of eligible deceasedex-employees whose claims were received. Thebalance � 19.16 Crore is considered to be sufficient tomeet the payment liability to the remaining judgementbeneficiaries.

8.5. 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 transaction effected.

&�����'� ����� ��()����� �������*+,�����/Sl. No. Name Designation Remuneration

31.3.2011 fUtu g:trô:r; J;obtl rl=uNfU / Existing Directors as on 31.3.20112010-11 2009-10

1 ^�����1���1=qyt �'��N�P��5&���5'����������Shri J. P. Dua Chairman & Managing Director 20.37 21.70

2 ^��S<�1,�������� ����� ��4������������Shri D. Sarkar Executive Director 13.57 2.48

3 ^��P#�1����1������� ����� ��4������������Shri M. R. Nayak Executive Director 12.72 1.92

4 ^��&�,���������4����� &���5'����������P��5,��F �����4������a��F���,�4�1Shri Prasad Akolkar Managing Director and CEO

of AllBank Finanace Ltd. 13.03 11.62-�.���.����(�)/���/ Ex Directors1 ���1����1���#��� ��-����-�� �'��N�P��5&���5'����������

Shri K. R. Kamath Ex-Chairman & Managing Director 4.60 17.692 ^�����1���1�"����4� ��-����-�� �'��N�P��5&���5'����������

Shri K K Agarwal Ex-Executive Director 2.17 14.31

Expenses towards gratuity and leave encashment are

determined actuarially on an overall company basis annually

and accordingly have not been considered in the above

information.

Transactions with associate company Universal Sompo

General Insurance Company Limited, are as follows:

(�F $)%��)��F�����,!��������F�����������������"�)A���DE�������(����������� ������ $)%* F,�4�P /012/13200 ���� ��!��C,!��� ��)������?��#��������������������������,�5��5'�#������F &����'���������������(����$)%��)����$%�����N���$)%*

��0� ��������� ,�#����� ��P������ ��� ,�#��� ������� �������������� ���� #��,�5A���7810Y:1RR������;<#��,��7810Z2������;<���&�����(�6�����������������4���P�������������X0HHZ���������K���;�<�����@���������,�5��5'�#������������������������,�����N�&����'��������������4�P�����(����*��$%��#� A�����������4�P ����(� ���4�P!������3212H10HHZ������������,�����#������!����������LF�$%������������������#�0HHZ$�%�����������������4����$%O���������!��*��A��$�%P7810:1RR������;<����������+������?� 322HX02#����P(�P781//������;<�����=>4��&����'�������,��!�#�4����������������������B�����#���5���������(�F ���� ������)���0Y1/13#����!�� C44�B���#��������� AA���#��������4�����������������������4���#��"�)A���DE�������(������������� #�� !��*F,�,�5��5'� #�����4� &����'����781Z01RR������;<��$%�*F,�#��,��781/31Y0������;<������(������ ���������������(����$)%����������#��@-�����L3202�������������5��(� ���������,[��j4�#��!����)�����=> ���G�#�I����-����-�� ��#� A����������������-��������,������������(��������,��������&�����$�%P!��*���?�7810H10Y������;< ��� ����#� ��K� �� ��� ��A�� $�%P 4�����b!����� ����������� ������(����������������4�P����� ���������(����*

��1� ,�5��5'��� ��N�������� ��� &���DE�����K� X 4��B�� #������ �PP,�� 0:

,�5��5'������bDE�������,�-A��P��54���������

,�5��5'������bDE����������#�L��������,��!� �����,�5��5'���!����P(�P

4���������*���4��B������ / (� in Lacs)

"��A���DE���!���������������������K�,��,�5��5'�������������'�� ��K�,�#�"�

�5�����������'�����������b?�������,�����#��5����&�K��4��6����������������$)%

��!���������,���� ,�� ����� @�,�-A����#����$%O4����(����$)%*

����?�5(���5��������������,� 4�,���#����������4�F5��������,����5�14�1���,��!���P

(�P4������������������K���#���5����$)%:

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147

������K� \ Particulars 2010-11 2009-10

�b��������\ Income Earned 7.42 5.49

&���+����#��&��#���#�\ Insurance Premium Paid 6.57 2.98

Subsidiary:

i) All Bank Finance Limited (wholly owned)

Joint Venture:

i) Universal Sompo General Insurance Company Limited

ii) ASREC (India) Ltd.

Associates:

i) Allahabad U P Gramin Bank

ii) Sharda Gramin Bank

The Bank is holding 35% shares of the above AssociatedRegional Rural Banks and 30% shares of Universal SompoGeneral Insurance Company limited.

The transactions with the subsidiaries and associates havenot been disclosed in view of para 9 of the (AS)-18 RelatedParty Disclosure, which exempts state controlled enterprisesfrom making any disclosure pertaining to their transactionswith other related parties which are also state controlled.

Lease Disclosure:

A) The Bank has various operating leases for office /residential facilities. Disclosures in this regard are asunder:

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 as on 31.03.2011

���23�.()����4���� ���,� / Existing Lease Period =ug htrN / Amount Payable2010-11 2009-10

P����?� ,�����'���/ Not later than one year 32.96 36.11

P����?� ����������!�����]A���?� ,�����'���/ Later than one year and not later than five years 110.25 94.66

���]A���?� ��������/ Later than five years 29.99 37.13

In respect of its subsidiary, lease accounting standard is not

applicable since the Company has not sanctioned any lease

after 01.04.2001.

ii) The total of future minimum sublease payments expected

to be received under non-cancelable subleases at the balance

sheet date: Nil (Previous Year: Nil)

iii) Lease payments recognised in the statement of profit and

loss for the period: Rs.60.75 Crores (Previous Year: Rs.48.58

Crores)

��������;<#���Q��In crore�

��!5�'6� �'����� 7

i) ��j4������a��F����,�4�#�D�ES<���-K� ,���#����#���

��'��!8�9:��7

i) �������,� 4�,���#����������4�F���������,��5������4�1

ii) PP,�����F ,���F5S<����4�1

;�������;�4���7

i) F4��$%��������-���"��#��K������*

ii) ��������"��#��K������

cîfU fuU WÿUN��G����"��#��K��������#����������/Z%����������$�%L��)����-����,� 4�,���#����������4�F5��������,��5������#��/2%����������$�%*

����?�5(�����P��5P,���,�PD_E,����,��!�4������������B��4��,���PP,��–0:���,�5��5'�����N������&���DE�����K������)���H����'�����#����B����$�%P��$%O����� (���� $)% ���� ������ 6����� ����5G��� k#��� ���� ������ ,�5��5'�����N�����������,��!� �����4���������,��,�5��5'���B��4��,���������,��#��@��������$)%����������6������������5G���$�%*

���4����<����� ������7��� �����������,������� 4�����Q�����,����,����'��������4�P����T���D_ED�E

$�%*F,�,�5��5'�#����#������&���DE�����K������������$)%M

i) ��#��4�B���&����������'�$�%�������,��������,���������4������A��4���(���

��D_EDE������5��(� �����������-����#���D_ED�E���(���������������(�:

/012/13200������!��C,!����,�#�������D_ED�E���'�$�%����������������

F,��������?�5(�����,�5��5'�#��L��D_EDE�4��B��#������&����������$%O$)%J������

�5���������2012913220������������F ��D_EDE�,�5,����I�����$%O�����$)%*

ii) ���4�����G����������B���������,��������,���������4�� ����D_ED�E����5��(� ��&�������P���������4��&�����������������#����#� ����D_ED�E������(���������������(�M��-������=>4����?� M��-����

iii) ,�5��5'������'�$�%���4����P��5$%������������K��#�����i������D_EEDE����(������M781Y21RZ������;<���=>4����?� 7819:1Z:������;<�

��������;<#���Q��In crore�

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148

iv) Sub-lease payments received (or receivable) recognised

in the statement of profit and loss for the period: Nil (Previous

Year: Nil)

B) Financial Lease:

Bank is not having any assets under Financial Lease.

8.6. Earning Per Share – Accounting Standard (AS) 20:

&�����'� ��������� ��5�=%>>?@$>A�B�! ��5�=%>>�@>?A�B�!Sl No. Particulars For the year For the year

2010-11 2009-10

A &����������#�-4���)��S<�F4��-D�ES<��� ��Basic and Diluted Earning Per Share (Rs.) 32.22 Rs. 27.50

8.7. Accounting for Taxes on Income: AccountingStandard (AS) 22

During the year, an amount of Rs. 51.88 Crores (Net) (Previous

year net debit Rs.11.10 Crores) has been 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:

atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo

C. Yr. Pr. Yr. C. Yr. Pr. Yr. C. Yr. Pr. Yr.

��C��6������ �*�����' / Deferred Tax Assets

�������������������K�$�%���&����'����/

Provision for Leave Encashment Nil Nil Nil Nil Nil Nil

���#�����=�>D_EDE�$�%���&����'����/

Provision for Sick Leave 1.23 0.65 3.46 0.58 4.69 1.23

vüNl (vwhtle) nu;w ŒtJ'���� /

Provision for Pension(old) 3.66 6.99 (3.65) (3.33) 0.00 3.66

P4�Pa�,��$�%���&����'����/ Provision for LFC Nil 2.12 Nil (2.12) Nil Nil

���/ Others 0.54 0.54 (0.54) 0.00 0.00 0.54

�!���/ Total 5.43 10.30 (0.73) (4.87) 4.69 5.43

��C��6������(�)����;� / Deferred Tax Liabilities

�A�4���C,���������#�-4��\�,�/

Depreciation of Fixed Assets Nil 1.34 Nil (1.34) Nil Nil

��������������#��'������&�����-���������� ��A���g�����������������

Interest Accrued but not due on securities

held as Investments 28.81 21.29 51.74 7.52 80.55 28.81

���/ Others 0.59 0.54 (0.59) 0.05 0.00 0.59

�!���/ Total 29.40 23.17 51.15 6.23 80.55 29.40 ��C��6������(�)����;�D�������E/

Deferred Tax Assets (Net) 23.97 12.87 51.88 11.10 75.86 23.97

��5�=���<�����-����At the beginning

of the Year

���������3���3���FGHDI������EAdjustmentAdd/(Less)

��5�=��� '����At the closeof the Year

��������� / Particulars

iv) ,�5��5'��� ���'� $�%��� 4���� P��5 $%��� ��� ������K�� #�� ���i����&�������!���� &������ ��X��D_ED�E ��� ���(������ M��-��� ���=>4�� ��?� M��-����

��E����� �����4����7

�����������,���+������D_ED�E����5��(� ������F ,�#��+���$%O$)%*

8.6. <���/������ 3�=��7�������������D;;��E�20:

���� �����������A�B�!������@�������������D;;��E%%

��?� ������)�������,!�(�������,�������,�#�����������������#��78151.88

������;<�����4�����=>4����?� ����4����#��78111.10������;<�����4����P��5

$%���B�����#��sbt rfUgt(����*���4�����G����������B�������!��C,!���

��,!�(���������C,������Q��������������#��B��e�DE�����4�����G������!����

����,������#������$)%M ��������;<#���Q��In crore�

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149

The Bank does not recognise deferred tax on HTM categoryof investments as in its opinion; there is no timing difference inthis regard. Pursuant to the opinion of the Expert AdvisoryCommittee of the Institute of Chartered Accountants of Indiaon recognition of deferred tax on investments, the bank hasreferred the issue to the Indian Banks’ Association for theirguidance on the matter since there is a difference in treatmenton this subject in the industry.8.8. A substantial portion of the bank’s assets comprise of

‘financial assets’ to which Accounting Standard (AS)28 ‘Impairment of Assets’ is not applicable. In theopinion of the management, there is no impairment ofother assets of the Bank as at 31.03.2011 to anymaterial extent requiring recognition in terms of thesaid standard.

8.9. Disclosure in terms of Accounting Standard (AS) 29on “Provisions, Contingent Liabilities and ContingentAssets”:

Movement of Provision for Liabilities (Closing Balance):

rJJhK / ������C��*�C��� ������C��*�C���Particulars As on 31.03.2011 As on 31.03.2010

(a) YlveY nu;w ŒtJ"tl / Provision toward NPA 863.55 751.65

(b) rlJuN vh bqÖgÄtm nu;w ŒtJ"tl / Provision for Depreciation on Investment 297.78 251.80(c) btlfU ytrô;gtü nu;w ŒtJ"tl / Provision towards Standard Assets 362.57 280.98(d) ytgfUh nu;w ŒtJ"tl / Provision towards Income Tax 1830.53 1294.24(e) ytô:rd; fUh ytrô; / =ug;t / Deferred Tax (Assets) / Liabilities 75.86 23.22(f) ylwMkde ÖttC fUh / Fringe Benefit Tax 26.04 26.04(g) yàg / Others 1112.19 641.76

fwUÖt / Total 4568.52 3269.69

8.10.��'JG�������.K����7�������������D;;��E17 / Segment Information: Accounting Standard (AS) 17

cîfU YaxeYb ¶uKe fuU rlJuNtü vh ytô:rd; fUh ���i���� lne ����mfU;t ¢gtürfU cîfU fuU rJath mu; Rm mkck" bü mbg bü fUtuRo yk;hlnek ni> rlJuNtü vh ytô:rd; fUh fuU ���i���� vh Cth;eg ml=eÖtuFtfUth mkô:tl fUe rJNuMÒt mÖttnfUth mrbr; fuU rJath fuU

ylwmth, cîfU lu Rm bwæu fUtu Cth;eg cîfU mkD fuU vtm btdo=Nol

nu;w Cust ni ¢gtürfU W‘tud sd; bü Rm rJMg vh fUtgoJtne fUhlu

bü fUtVUe rCªt;tYk ni>

��� ‘��+������C,�������������#������������C,�������������� ����5������4��B��#�������PP,��3:‘F#�������#��DE��ja��P,��D_E,�’&����������$%O$)%*&���5'�����������#�� @�#�������������,����/012/13200������������������C,������ #������F F#�������#��DE ��$%O$)%��)�� J��#�������������,�������i����$�%�������F #�$%�����-K� ��,�������$%O$)%

��? “&����'����L����C,#�����������P]��)������C,#�����C,�����5’’���,�5��5'�#��4��B��#�������PP,��3H�������,����&���DE�����K�

�����������$�%���&����'�������,�5A�4����F�����?��M ��������;<#���Q��In crore�

��������;<#���Q��In crore�

atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo

rJJhK/Particulars Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr.

htsôJ/Revenue 2983.70 2608.47 5746.27 4276.43 3311.65 2766.23 430.61 293.76 12472.23 9944.89

vrhKtb/Result 261.07 140.30 1164.49 1080.39 1320.78 1114.57 327.41 237.58 3073.75 2572.84

ŒtJ"tl/Provisions 1123.84 776.61

vrhatÖtl ÖttC

Operating Profit 1949.91 1796.23

ytg fUh/Income Taxes 510.38 567.77

ymt"thK ÖttC/ntrlExtraordinary profit / loss 0 0 0 0 0 0 0 0 0 0

rlJÖt ÖttC / Net Profit 1439.53 1228.46

yàg mqalt:Other Information:

FkzJth ytrô;gtk

Segment Assets 43973.88 39911.79 77154.26 53803.56 29009.98 26865.95 321.57 254.90 150459.69 120774.20

dih ytckrx; ytrô;gtk

Unallocated assets 1148.23 1117.91

Other BankingOperation

BusinessSegments

TreasuryCorporate/wholesalesecurity

Retail Banking Total

������������'JG ����3��� fUthvtuhux/:tufU

Œr;Cqr;gtk

rhxuÖt cîrfUkd yàg cîrfUkd

ÔgJmtg

fwUÖt

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150

atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo

rJJhK/Particulars Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr.

fwUÖt ytrô;gtk

Total assets 151607.92 121954.11

FkzJth =ug;tYk

Segment liabilities 41818.46 38046.62 73372.47 51289.19 27683.56 25654.33 0 0 142874.49 114990.14

dih ytckrx; =ug;tYk

Unallocated liabilities 8733.43 6963.97

fwUÖt =ug;tYk

Total liabilities 151607.92 121954.11

Notes to Segment Information:

� The business of the subsidiary company, a non-banking

entity has been considered as residual business in con-

solidated segment reporting.

� For the purpose of segment reporting in terms of AS 17

issued by the Institute of Chartered Accountants of India

and RBI guidelines thereon, the business of the bank has

been classified into three segments, viz.

o Treasury Operations,

o Corporate / Wholesale Banking

o Retail Banking

o Other Banking business

� Geographical segment has been classified as (a) Domes-

tic and (b) International.

� Investment in SLR securities in excess of statutory require-

ments and investment in non-SLR securities have been

considered as investment for Treasury Operations.

� Expenses, assets and liabilities directly attributed to par-

ticular 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.

BusinessSegments

TreasuryCorporate/wholesalesecurity

Retail Banking Total

�������������� �� ������ fUthvtuhux/:tufU

Œr;Cqr;gtk

rhxuÖt cîrfUkd yàg cîrfUkd

ÔgJmtg

fwUÖt

Ctd F:CtidturÖtfU Fkz / Part B: Geographic Segments:

DhuÖtq yk;hhtíx[eg fwUÖt

Domestic International Total

������������ �����In crore�

������������ �����In crore�

atÖtq JMo d; JMo atÖtq JMo d; JMo atÖtq JMo d; JMo

Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr. Cr.Yr. Pr.Yr.

htsôJ/Revenue 12401.21 9895.83 71.02 49.06 12472.23 9944.89

ytrô;gtk/Assets 147978.13 120139.03 3629.79 1815.08 151607.92 121954.11

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Page 151: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

151

9. Contingent Liabilities

Such liabilities as mentioned at Sl. No.(I) to (VI) in schedule

12 of 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:

� Disputed Income Tax in respect of matters pending before

various appellate authorities where the Company expects

to succeed amounts to Rs.8.00 Crores (Previous Year Rs.

12.09 Crores). As on 31.03.2011, Rs. 8.89 Crores (Previous

Year Rs. 7.80 Crores) 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 : Rs.11.76 Crores (Previous Year Rs. 11.76 Crores)

10. In respect of AllBank Finance Limited, as per the order of

Hon’ble 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.

11. Estimated amount of contracts remaining to be executed

on capital account and not provided for (Net of Advance)

Rs. 41.84 Crores (Previous Year Rs. 38.67 Crores).

12. 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.

13. Figures of previous year have been regrouped orreclassified wherever considered necessary.

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153

Auditors’ Report on the Consolidated Financial statements of Allahabad Bank, itssubsidiary and its interests in Associates and Joint Ventures

To,The Board of DirectorsAllahabad Bank1. We have examined the attached Consolidated Balance Sheet of Allahabad Bank (the Bank), its subsidiary, associates and

joint venture (the Group) as at 31st March 2011 and the Consolidated Profit and Loss Account and the Consolidated CashFlow Statement for the year ended on that date in which are incorporated:

i. Audited accounts of the Bank audited by usii. Audited accounts of one subsidiary, two associates audited by other auditors and unaudited accounts of two joint

ventures.These financial statements are the responsibility of the Bank’s management and have been prepared by the managementon the basis of separate financial statements and other financial information regarding components. Our responsibility is toexpress an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with generally accepted auditing standards in India. These Standards require thatwe plan and perform the audit to obtain reasonable assurance whether the financial statements are prepared, in all mate-rial respects, in accordance with an identified financial reporting framework and are free of material misstatements. Anaudit includes, examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. Anaudit also includes assessing the accounting principles used and significant estimates made by management, as well asevaluating the overall financial statements. We believe that our audit provides a reasonable basis for our opinion.

3. We did not audit the financial statements of:i. One subsidiary, whose financial statements reflect total assets of Rs.54.09 Crore as at 31st March 2011 and total

revenues of Rs. 5.80 Crore for the year ended on that date. These financial statements have been audited byanother auditor whose report has been furnished to us, and our opinion, insofar as it relates to the amountsincluded in respect of the subsidiary, is based solely on the report of the said auditor.

ii. Associates that included two Regional Rural Banks (RRBs) whose financial statements reflect total assets of Rs.7364.16 crore as at 31st March 2011 and total revenues of Rs. 482.69 Crore for the year ended on that date.These financial statements have been audited by other auditors whose reports have been furnished to us, andour opinion, insofar as it relates to the amounts included in respect of these associates, is based solely on thereport of the said auditors. The financial statements of one Joint Venture Company, which is an insurance com-pany is unaudited, whose total asset is Rs 448.62 Crore and revenue of Rs 217.84 crore.

iii. One joint venture which is an asset reconstruction company, whose financial statements are unaudited and reflecttotal assets of Rs. 126.39 Crore as at 31st March 2011 and total revenues of Rs. 17.88 Crore for the year ended onthat date

4. We report that the consolidated financial statements have been prepared by the Bank’s management in accordance withthe requirements of Accounting Standard 21 “Consolidated Financial Statements” and Accounting Standard 23 “Account-ing for investment in Associates in Consolidated Financial Statements”, and Accounting Standard 27 “Financial Reportingof Interest in Joint Ventures” issued by the Institute of Chartered Accountants of India and the requirements of the ReserveBank of India.

5. Without qualifying our opinion, we draw attention to note no. 16.3.5 of schedule 18 which describes deferment of pensionliability and gratuity liability due to increase in ceiling to the extent of Rs598.16 crores pursuant to the exemption granted bythe Reserve Bank of India to the public sector Banks from application of the provisions of AS 15, Employees Benefits videits circular No DBOD.BP.BC/80/21.04.018/2010-11 dated February 9th , 2011, on reopening of Pension Option to Employ-ees of Public Sector Banks.

6. Based on our audit and consideration of reports of other auditors on separate financial statements and also subject toNotes on Accounts i.e. Note No. 2(i),2(ii) & 2 (iii) regarding balancing / reconciliation of unmatched entries in Inter BranchAccounts, balancing / reconciliation and clearance of outstanding entries in various head of accounts as stated in the saidnotes, we are of the opinion that:

i. The Consolidated Balance Sheet gives a true and fair view of the consolidated state of affairs of the Group as at31st March 2011;

ii. The Consolidated Profit and Loss Account gives a true and fair view of the consolidated results of operations ofthe Group for the year ended on that date; and

iii. The Consolidated Cash Flow Statement gives a true and fair view of cash flows of the Group for the period

covered by the statement.For Sudit K. Parekh & Co.Chartered AccountantsICAI Reg.No: 110512W

(Srikant Jilla)PartnerMembership No. 39461

For S Ghose & Co.Chartered AccountantsICAI Reg.No: 302184E

(Chandan Chattopadhay)PartnerMembership No. – 51254

For P.A. & AssociatesChartered AccountantsICAI Reg.No:313085E

(Dillip Kumar Agarwalla)PartnerMembership No. – 55420

For K.M. Agarwal & Co.Chartered AccountantsICAI Reg.No: 0853N

(C.P.Mishra)PartnerMembership No. – 73009

For M. R. Narain & Co.Chartered AccountantsICAI Reg.No:002330S

(M.N. Venkatesan)PartnerMembership No. - 22993

For M.C.Jain & Co.Chartered AccountantsICAI Regn No.304012E

(Mukesh Kr Patawari)PartnerMembership No.056623

Place : KolkataDate : 2nd May, 2011

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154

DIRECTORS’ REPORT

The Directors have pleasure in presenting the Annual Reporttogether with audited financial statements of the Company forthe year ended 31st March, 2011.

FINANCIAL RESULTS

During the year under review, your company earned profit aftertax of Rs.2,79,50,799 as against Rs. 7,14,92,466 in theprevious year. The summary of the financial results is asfollows:

� �������( in �)

31.03.2011 31.03.2010

����� ��������\ Gross Revenue 5,79,91,192 10,69,33,627����������\ Total Expenses 1,44,39,506 1,06,25,793 ���������������\ Profit Before tax (PBT) 4,35,51,686 9,63,07,834 ��������������������\ Provision for tax 1,10,00,000 2,48,00,000 �����������������\ Profit after tax 2,79,50,799 7,14,92,466

DIVIDEND

Directors do not recommend any dividend for the year ended31st March, 2011.

OPERATIONS

The Financial Year 2010-11 was marked by hardening of theinterest rates, tight liquidity conditions, rising inflation, andadverse impact of increase in crude oil prices. In the light ofthese micro-economic factors, cost of funds has remained acause of concern. Primary market for equity remained subduedwith the exception of successful offering by selective publicsector undertakings. Interest rates on the whole remainedvolatile and continued its journey northwards particularly atthe shorter end of the market. The scenario forced thecompanies rushing for fund particularly through short termborrowings, issuance of Commercial Papers (CPs) and so on.It is expected that the interest rates will remain high for somemore time in the current financial year as well.

On the back drop of this scenario, your company focused onDebt syndication activities and earned fee based income of� 1,07,83,144 during the year as against � 70, 00,000 duringthe previous year.

Your company reported investment income of � 2,32,42,336during the year which is largely attributed to interest on fixedincome securities and dividend income from Mutual Fundinvestments. The investment income is not strictly comparablewith that of previous year figure of � 3,42,16,288 since itincludes profit on sale of investment of � 1,63,23,204 which isone time.

Brokerage income (MF units) during the year reportedsignificant drop to � 1,56,43,869 as against �� 5,81,60,085.This is mainly attributed to large scale redemption of liquidinvestments parked in various Mutual fund schemes byAllahabad Bank and others.

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155

In regard to newly started ‘Trusteeship’ services your companyhas a modest beginning and is expected to generate higherrevenue by expanding its client base.

Your company has made recovery amounting to � 20, 00,000during the year from one of the NPAs of erstwhile NBFC activitythrough One Time Settlement (OTS) rather than pursuing timeconsuming legal recourse. Your company recovered theoutstanding amount in full.

OUTLOOK FOR THE CURRENT YEAR

Your company would endeavor to achieve significant growthin terms of its activities viz, Debt Syndication, IssueManagement, Trusteeship activity and other fee based servicessuch as Techno Economic Viability studies, project appraisaland so on.

COMPLIANCE OF SEBI GUIDELINES

Your company has complied with various guidelines, directives,circulars issued by SEBI pertaining to Merchant Banking andother applicable Capital Market related activities.

PARTICULARS OF EMPLOYEES

None of the employees are covered under section 217 (2A) ofthe Companies Act, 1956 read with Companies (particulars ofEmployees) Rules 1975.

COMPANIES (DISCLOSURE OF PARTICULARS IN THEREPORT OF THE BOARD OF DIRECTORS RULES 1988CONSERVATION OF ENERGY, TECHNOLOGY, ABSO-RPTION AND FOREIGN EXCHANGE EARNINGS ANDOUTGOINGS

The company has nothing to report under this head.

BOARD OF DIRECTORS

Consequent upon retirement of Shri S K Chakraborty, whowas on the Board of the company, from the services ofAllahabad Bank, Shri D Narang, General Manager AllahabadBank was inducted on the Board w.e.f. 24th August, 2010.

The Board placed on record its appreciation for the servicesrendered by Shri S K Chakraborty during his tenure as Directorof the Company.

No Director of the Company has been disqualified undersection 274(i) (g) of the Companies Act, 1956.

CORPORATE GOVERNANCE

(a) Board Meetings:

During the year 2010-11 five Board meetings were held andattended by Board members:

E�6CD��/�-���/0��� E�6CD��/����/�O�� �I� ��� ��������/ Director No. of meetings Meetings attended

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156

(b) Audit Committee:

The Audit Committee of the members of the Board comprisingShri P. K. Gupta, Shri R. G. Sharma and Shri A. B. Bhattacharjeeheld four meetings during the year. The scope of AuditCommittee is as per Section 292A of the Companies Act, 1956.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217 (2AA) of theCompanies Act, 1956 with respect to Directors ResponsibilityStatement, it is hereby confirmed that:

a) In the preparation of the annual accounts for the financialyear ended 31st March, 2011, the applicable accountingstandards had been followed along with properexplanation relating to departures.

b) The Directors had selected such accounting policies andapplied them consistently and made judgments andestimates that are reasonable and prudent so as to givea true and fair view of the state of affairs of the companyat the end of the financial year and of the profit or loss ofthe Company for the year under review.

c) The Directors had taken proper and sufficient care forthe maintenance of adequate accounting records inaccordance with the provisions of the Companies Act,1956 for safeguarding the assets of the Company andfor preventing and detecting fraud and other irregularities.

d) The Directors had prepared the accounts for the financialyear ended 31st March 2011 on a going concern basis.

AUDITORS

The provisions of Section 619(2) of the Companies Act, 1956being applicable to the Company, the Comptroller and AuditorGeneral of India, New Delhi has appointed M/s. De & Bose,Chartered Accountants, Kolkata as Statutory Auditors of theCompany for the year 20010-11.

MANAGEMENT’S REPLY TO THE AUDITORS REPORT

The Auditors made no specific qualification during the courseof their audit.

GENERAL

Your Directors wish to place on record their gratitude to theSEBI, Comptroller and Auditor General of India for theirvaluable guidance.

Your Directors also wish to place on record their thanks to theBankers viz: Allahabad Bank for their assistance, support andguidance from time to time and also thankfully acknowledgecontributions made and efforts put in by company’s employees.

Your Directors express their appreciation for the contributionmade by the Company’s Employees.

For on and behalf of the Board of Directors

(Prasad Akolkar) (J. P. Dua)MD & CEO Chairman

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157

���������� Schedule 31.03.2011 31.03.2010

(�) (�)

I. ���� �������������� / SOURCES OF FUNDS

I. ������� �������������� ����� / Shareholders’ Funds

������� / Capital A 150,000,000 150,000,000

Œ������ ����������������� / Reserves and Surplus B 323,634,572 295,890,615

����� /Total 473,634,572 445,890,615

II. ���� ���������������� / APPLICATION OF FUNDS

1 ���������������� / Fixed Assets C

���������������/ Gross Block 50,909,927 51,176,500

���������� ��� �!��� / Less : Depreciation 33,312,130 33,451,355

"������������� / Net Block 17,597,797 17,725,145

2 �������� / Investments D 348,786,706 334,240,825

3 ������������������� �!�����"�#�Current Assets, Loans & Advances

rJrJ" =ul=th�/ Sundry Debtors E 57,632 -

lfU= YJk cîfU NuM/ Cash and Bank Balances F 53,322,369 56,164,475

yàg�#��������$��� ��� / Other Current Assets G 17,593,334 17,043,656

%&'��������(� � / Loans and Advances H 103,626,149 100,864,115

174,599,484 174,072,246

$�%&�!�'������(�)�����!�!���*���� ����Less : Current Liabilities & Provisions

#������)�* ������ / Current Liabilities I 7,699,009 6,534,534

+�������"� / Provisions J 59,650,406 73,613,067

67,349,415 80,147,601

����������������������� / Net Current Assets 107,250,069 93,924,645

����� /Total 473,634,572 445,890,615

�,-������'�.����/���"���� ���

Significant Accounting Policies P

���/��������'� ��� / Notes on Accounts Q

��+��,�-��.��/����������#�%�&01AllBank Finance Limited

23#����4�5633�����������78�9�BALANCE SHEET AS AT 31st March, 2011

0�� �1.2�����)*34����ylwmqragtâ�;wÖtlvºt������4�5����6��,7-�The Schedules referred to above form an integral part of Balance Sheet.

�,-���1��"�8��9���� ����:������,- �����������.�� �;����)*34����,7-This is the Balance Sheet referred to in our report of even date.

m=ôg;t mkÏgt/ Membership No.54962VUbo vksefUhK mkÏgt / Firm Registration No. 302175E

�<�����=�>���=>�������For De & Bose

��"�)*�����/������Chartered Accountants

��������� / Subrata De����.�"�� - / Partner

�:��"���������������� / Place: Kolkata

)*"����� / Date: 23rd April,2011

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For and on behalf of the Board

+����)*����������� / Prasad Akolkar

Œck"�"�)�*�������������?.�����/ M D & CEO

���@���@�)�*��� / J. P. Dua

�� ��� / Chairman

���@����@�6�1�����/ P. K. Gupta

"�)�*�����/ Director

�4�������vtrNlu�/ Abhijit Pashine

fUkvle mraJ / Company Secretary

ze. mhfUth�/ D. Sarkar

"�)�*�����/ Director

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158

��������� 31.03.2011������#��8����:�4 31.03.2010������#��8����:�4Schedule Year ended Year ended

31.03.2011 31.03.2010

���� ���

����/ INCOME

bauøx cîrfUkd ytg / Merchant Banking Income 10,783,144 7,000,000

ögw#�1����A��=>�J���'��B����������/ MF Distribution Brokerage 15,643,869 58,160,085

rlJuN ytg / Investment Income K 23,242,336 34,216,288

+������� ���� / Interest Received L 6,259,849 5,696,482

�" ���� � / Other Income M 2,061,994 1,860,772

57,991,192 106,933,627

����� / EXPENDITURE

���3 ����;������ � � / Personnel Expenses N 4,917,491 3,403,627

+������"����������" ��� � � / Administration & Other Expenses O 9,326,189 7,058,497

����� ��C Depreciation C 195,826 163,669

14,439,506 10,625,793

fUh vqJo ÖttC / Profit Before Tax 43,551,686 96,307,834

�������"� nu;w ŒtJ"tl / Provision for Taxation

-�#����������/ - Current Tax 11,000,000 24,800,000

�� �������� �� �����"� / Income Tax Adjustment (4,600,887) (15,368)

�������#��������4� / Profit After Tax 27,950,799 71,492,466

�(��"���������� / Balance Brought Forward 294,830,362 223,337,896

�(��"���������� / Balance Caried Forward 322,781,161 294,830,362

�,-������'�.����/���"���� ��� / Significant Accounting Policies P

���/���rxËvrKgtk / Notes on Accounts Q

�� ��+������� ���D������� ��� ��+����EF@�GHHIEarnings per Share [ Face value � 100 each ]

����������=>-�?� �����=>��� ��+������� ���D�"�1���#���¢gq�����"������J��������)*4�.���;IBasic and Diluted Earnings per Share [ Refer to Note 5 on Schedule Q ] 18.63 47.66

0�� �1.2�����)*34�����"�1���#� ��K����4�8,-�"�����/��������4�5����6��,7-�LThe Schedules referred to above form an integral part of Profit and Loss Account.

�,-����4�8,-�"�����/����� ����:������,- �����������.�� �;����)*34����,7-LThis is the Profit and Loss Account referred to in our report of even date

��+��,�-��.��/����������#�%�&01AllBank Finance Limited

23#����4�5633������#��8����:�4������;���<=�������>��Profit and Loss Account for the year ended 31st March, 2011

m=ôg;t mkÏgt / Membership No.54962VUbo vksefUhK mkÏgt / Firm Registration No. 302175E

,���041������!!�������������

For and on behalf of the Board�<�����=�>���=>�������For De & Bose

��"�)*�����/������Chartered Accountants

��������� / Subrata De����.�"�� - / Partner

�:��"���������������� / Place: Kolkata

)*"����� / Date: 23rd April,2011

+����)*����������� / Prasad Akolkar

Œck"�"�)�*�������������?.�����/ M D & CEO

���@���@�)�*��� / J. P. Dua

�� ��� / Chairman

���@����@�6�1�����/ P. K. Gupta

"�)�*�����/ Director

�4�������vtrNlu�/ Abhijit Pashine

fUkvle mraJ / Company Secretary

ze. mhfUth�/ D. Sarkar

"�)�*�����/ Director

Page 159: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

159

2010-11 2009-10��� ���

��? 8�����������@�������� ������������()*����<=A CASH FLOW FROM OPERATING ACTIVITIES

����8����4����������;�Net Profit before Tax 43,551,686 96,307,834

�� �� �����"��/ Adjusted for :

��� �!����C Depreciation 195,826 163,669

� ������� ��C Interest Income (23,872,813) (16,673,832)

���4�������� �8 �1#�1����A��=>�/ Dividend Income - Mutual Fund (5,364,971) (6,558,693)

���4�������� �8��� ���C Dividend Income - Shares (28,650) (278,500)

�"������,�-��1�+�������"���������������"�,-M�/Provision for NPA no longer required (1,681,929) (1,278,142)

� � ��,�-��1�+�������"���������������"�,-M�CProvision for Expenses no longer required (76,988) (6,750)

"������� �;�����!����,�-��1�+�������"���������������"�,-M�CProvision for Diminution in Investment no longer required - (26,809)

���N�����/������=>�����6��������� ��%&'� / Bad Debt written off 8,654 428,842

"������� ��������!����,�-��1�+�������"� /Provision for diminution in Investment - 165,075

"��������������O� ���������4��CProfit on sale of Investments (153,863) 16,349,564)

$�:�����$��� ��;��������O� ���������4��CProfit on sale of Fixed Assets (2,880) -

"�������������O�������,-�"� / Loss on sale of Investments - 26,360

$�:�����$��� ��;�������O�������,-�"�C���N�����/������=>�����6�?.����$��� ���Loss on sale of Fixed Assets/Assets written off - (30,977,614) 105,307 (40,283,037)

��� �.���������������������."�����������.����#����"�����4�Operating Profit before Working Capital Changes 12,574,072 56,024,797

�� �� �����"��/ Adjusted for :

�P��=>���7���" ��+��� ������ ��K / Trade and Other Receivables 8,580,137 (2,440,410)

%&'��������(� � / Loans and Advances 1,799,241 (1,891,634)

�P��=>�������" ��)�* ������ ��K / Trade and Other Payables 1,069,250 11,448,628 4,729,408 397,364

���#����"�������3�����"���)*� /Cash generated from Operations 24,022,700 56,422,16

4�16����"���� ���6� ������ / Tax paid 33,970,816 19,063,762

���#����"������6������� ���������D+� �1Q��I�"������"���)*�Net Cash (used in ) from Operating Activities (9,948,116) 37,358,399

��+��,�-��.��/���������#�%�&01AllBank Finance Limited

23#����4�5633������#��8����:�4<�=�������()*����<=������� �Cash Flow Statement for the year ended 31 st March, 2011

Page 160: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

160

>�?��������@�������� ������������()*����<B CASH FLOW FROM INVESTING ACTIVITIES

$�:�����$��� ��;�����/���)* / Purchase of Fixed Assets (71,098) (843,034)

$�:�����$��� ��;�������O�������+��������6� �Proceeds from Sale of Fixed Assets 5,500 -

�1#�1����A��=>� ���"�����������+��������6� ��D"�����IProceeds from Investments of Mutual Fund (Net) 5,607,983 42,295,925

��� ���;� ���"�������/ Investment in Shares - (1,687,575)

��������."�� ��=>���"#���;� �;�"������

Investment in Non-Convertible Debentures (20,000,000) (40,000,000)

���� �12������=>� �;�"������ / Investment in Tax Free Bond - (50,000,000)

� ������� � / Interest Income 16,170,004 9,644,153

���4�������� �8���� �� / Dividend Income - Shares 28,650 278,500

���4�������� �8� ��#�1����A��=> /Dividend Income - Mutual Funds 5,364,971 6,471,533

��������@�������� �����(ŒgwÿU)��������������()Net Cash from / (used in ) Investing Activities 7,106,010 (33,840,498)

@� ���A���@�������� ������������()*����<=C CASH FLOW FROM FINANCING ACTIVITIES

���A���@�������� �������������������()Net Cash from Financing Activities - -

����()������()��#�������#���������B��#�C/ ��D�E)Net (Decrease) / Increase in Cash and Cash Equivalents (2,842,106) 3,517,901

"���)*����7��"���)*���� ���1� ��D�:�������ICash and Cash Equivalents ( Opening Balance ) 6,164,475 2,646,574

"���)*����7��"���)*���� ���1� ��D?��������I�Dltux-1)Cash and Cash Equivalents ( Closing Balance ) ( Note - 1) 3,322,369 6,164,475

"������ / Note :

1. "���)*����7��"���)*���� ���1� �� �;�"� "����� ����,R-

Cash and Cash Equivalents comprise :

������S>������ / Cash in hand 5,349 5,675

�"�1���#������R���;� �;���R���������/ Bank Balance with Schedule Banks :

#������/������ �;�/ in Current Account 3,317,020 6,158,800

3,322,369 6,164,475 - -

2010-11 2009-10��� ���

m=ôg;t mk. / Membership No.54962VUbo vksefUhK mkÏgt / Firm Registration No. 302175E

,���041������!!�������������

For and on behalf of the Board�<�����=�>���=>�������For De & Bose

��"�)*�����/������Chartered Accountants

��������� / Subrata De����.�"�� - / Partner

�:��"���������������� / Place: Kolkata

)*"����� / Date: 23rd April,2011

+����)*����������� / Prasad Akolkar

Œck"�"�)�*�������������?.�����/ M D & CEO

���@���@�)�*��� / J. P. Dua

�� ��� / Chairman

���@����@�6�1�����/ P. K. Gupta

"�)�*�����/ Director

�4�������vtrNlu�/ Abhijit Pashine

fUkvle mraJ / Company Secretary

ze. mhfUth�/ D. Sarkar

"�)�*�����/ Director

Page 161: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

161

���������F!G778��HI� 31.03.2011 31.03.2010

SCHEDULE “A” - CAPITAL ��� ���

�������8���I� /SHARE CAPITAL

*��� ��D��� /Authorised

GHHC8�EF@�+�� ���������GJTHHTHHH��������'����� ��

15,00,000 Ordinary Shares of � 100/- each 150,000,000 150,000,000

���@�4�#������;�()A�!������()A�

Issued, Subscribed and Paid Up

GHHC8�EF@�+�� ���������GJTHHTHHH��������'����� ��

15,00,000 Ordinary Shares of � 100/- each 150,000,000 150,000,000

D�� �������� ���?���,-����)*���R��������?������"�� ��� ��;�����������,R-)

(All the Shares are held by Allahabad Bank and its nominees ) 150,000,000 150,000,000

���������F,�G77Œt����J��������!����� ����:� 31.03.2011 31.03.2010

SCHEDULE “B” - RESERVES AND SURPLUS ��� ���

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RESERVES AND SURPLUS

������� ��Œt�������� ��� /

General Reserve

���� �����/��������"�1���� / As per last account 1,060,253 1,060,253

����� ��U��������."�� ��+�������"������������'��+�4��� /Less: Charge on account of transitional provisions

���/��� ��"����8�GJ������"��6�.�� / under Accounting Standard -15 206,842

853,411

������������������ÖtuFt /

Profit and Loss Account 322,781,161 294,830,362

323,634,572 295,890,615

���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.

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Page 163: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

163

����4#�������������������%&�01 / CURRENT INVESTMENT - Unquoted#���������.��01������%&�MUTUAL FUNDS UNITS��/4����/4����/4*��0�1�������!#�!.�ICICI Prudential MF 999,880.011 10,000,000 10.0153 10,014,098

���.���3������"������� �����"���8�G����:��6�������4�����Half Yearly Interval Plan -I,

Institutional Dividend

!��01!.���/���#�.��01IDFC Income Fund �"��� �7"������A��=>8 /Money Manager Fund-

����������4������/ Monthly Dividend 1,443.872 1,000,000.000 14,439 10,012,300 10.0654 14,533

���P�������.���� �.�A��=>�/Ultra Short Term Fund -

����������4������/Monthly Dividend 2,027,879.540 20,431,233 10.1052 20,492,128

!��01!.���R�����%&�@����%&7!��%&8�����HDFC Floationg Rate-ST Plan 496,349.963 5,003,654

)*7"�������4������/ Daily Dividend

��/4����/4����/4*��0�1�������7R����P��,���/���#�8�����ICICI Prudential -Flexible Income plan 189,274.698 20,012,961

)*7"�������4������/ Daily Dividend

�,�������������/.����#��<=���������7�01���01��018����Q%&Birla Sunlife Qtly Interval-Dividend Payout 2,000,000.000 20,000,000

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%�&#8����%&��/��01�����%S&����%4&,���01.��01Templeton India UltraShort Bond Fund 999,751.871 10,008,616

)*7"�������4������/ Daily Dividend

����%&��R����%&������@�%&#�4Kotak Floater Long Term 744420.041 7,503,605

)*7"�������4������/ Daily Dividend

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)*7"�������4������/ Daily Dividend

���%&��/4%S�&I���!01����%�&I�.��01UTI Treasury Advantage Fund 15.018 19,074

���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.���������“01”�������� #��9�� ��,-�� ��� � ,��U����#�����SCHEDULE “D” INVESTMENT Q U A N T I T Y B O O K V A L U E M A R K E T V A L U E

���������������� ��� ������������� ��� ������������� ��� ������������� ����������������31.03.2011 31.03.2010 31.03.2011 31.03.2010 31.03.2011

As at As at As at As at As at 31.03.201131.03.2011 31.03.2010 31.03.2011 31.03.2010 ()��/ Rate #����� / Value

� � � �

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164

���������“01”�������� #��9�� ��,-�� ��� � ,��U����#�����SCHEDULE “D” INVESTMENT Q U A N T I T Y B O O K V A L U E M A R K E T V A L U E

���������������� ��� ������������� ��� ������������� ��� ������������� ����������������31.03.2011 31.03.2010 31.03.2011 31.03.2010 31.03.2011

As at As at As at As at As at 31.03.201131.03.2011 31.03.2010 31.03.2011 31.03.2010 ()��/ Rate #����� / Value

� � � �

���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.

�� ��,-�����4������/ Quarterly Dividend

���%&��/4%S�&I���!01����%�&I�.��01UTI Treasury Advantage Fund 5,186.259 30,006.905 5,187,369 30,013,330 1,000.2141 5,187,369)*7"�������4������/ Daily Dividend��������������������/ Total Current Investment 35,633,041 122,587,161

()$��4��� ���������7�������%&�01��������/ LONG TERM INVESTMENT - Unquoted SHARES���V�#�*���I��P%&����#�?�Vikram Projects Ltd. 85,500 85,500 2,992,500 2,992,500 - 1EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�D+�� ���������+�� � � ��EF@�YJC8IEquity Shares of � 10/- each, fully paid(Premium of � 25/- each)<=��*����8��%&������#�?�Harpartap Steel Ltd. 380,923 380,923 3,809,230 3,809,230 - 1EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each, fully paid#��T�����.��/������!01��������%4����#�?EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Moulik Finance & Resorts Ltd. 119,700 119,700 1,197,000 1,197,000 - 1Equity Shares of � 10/- each, fully paid��������8����#���4����#�? /Ritesh Polymers Ltd. 58,300 58,300 874,500 874,500 - 1EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�D+�� ���������+�� � � ��EF@�JC8IEquity Shares of �10/- each, fully paid(Premium of � 5/- each)������@���#���%&����#�?�Kalinga Cements Ltd. 150,000 150,000 1,500,000 1,500,000 - 1EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each, fully paidI������!"����T��#���������#�?Zuari Agro Chemicals Limited 25 25 250 250 - 1EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each,fully paid()��������@���4����#�?�Dewan Sugars Limited 650,000 650,000 6,500,000 6,500,000 - 1EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each, fully paid�()�����T�#��Divya Chem 50 50 1,538 1,538 - 1JH�?Q��������� ���D+�� ��������� ��� ��EF�ZH@[\I50 Equity Shares (Cost - � 30.76 each)���#�4��#��%&���Nirmal Metal 10,000 10,000 851,900 851,900 - 1GHTHHH�?Q��������� ���D+�� ��������� ��� ��EF�]J@G^I10,000 Equity Shares (Cost - � 85.19 each)

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165

���������“01”�������� #��9�� ��,-�� ��� � ,��U����#�����SCHEDULE “D” INVESTMENT Q U A N T I T Y B O O K V A L U E M A R K E T V A L U E

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As at As at As at As at As at 31.03.201131.03.2011 31.03.2010 31.03.2011 31.03.2010 ()��/ Rate #����� / Value

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���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.

����������������I��@��New Century Leasing 106,000 106,000 2,507,960 2,507,960 - 1GH\THHH�?Q��������� ���D+�� ��������� ��� ��EF�YZ@\\I106,000 Equity Shares (Cost - � 23.66 each)

����/����,�4���New Era Urban 40,000 40,000 757,200 757,200 - 1WHTHHH�?Q��������� ���D+�� ��������� ��� ��EF�G]@^ZI40,000 Equity Shares ( Cost - � 18.93 each)

��I���%&�T��#�������Regent Chemicals 28,000 28,000 795,200 795,200 - -Y]THHH�?Q��������� ���D+�� ��������� ��� ��EF�Y]@WHI28,000 EquityShares (Cost - � 28.40 each)@��I�������.����#���%&/Gujrat Filaments 25,000 25,000 1,017,500 1,017,500 - 1

YJTHHH�?Q��������� ���D+�� ��������� ��� ��EF�WH@[\I25,000 EquityShares( Cost - � 40.70 each)���������,���.��#�W4���Solar Busiforms 126,200 126,200 4,181,006 4,181,006 - 1GY\TYHH�?Q��������� ���D+�� ��������� ��� ��EF�ZZ@GZI126,200 Equity Shares( Cost - � 33.13 each)

����������8�X��@������#�?GTWHH�?Q��������� ���D����"���INiwas Spinnings Ltd. 1,400 1,400 - - - 1

1,400 Equity Shares (Bonus)#���������.��01������%&MUTUAL FUND UNITS�,�������������/.�!#�!.��A����������?.�"���������������V�����8(���:�Birla Sunlife MF 2,000,000.000 20,000,000 10.0294 20,058,800

FTP Inst Series CX - Growth01!��8�,��T����+��!#�!.�A��������8�YJ�A��=>8(���:�DSP Blackrock MF 250,000.000 2,500,000 10.5110 2,627,750Focus 25 Fund - Growth!��01!.���!#�!.�A�Q��=>� ��# ������������"�GZ� ��btao�GH�8�(���:�A�Q��=>� ��# ������������"�Z[H�r=l btao�GGDWI�8�(���:�HDFC MFFixed Maturity Plan13M Mar 10 - Growth 2,000,000.000 2,000,000.000 20,000,000 20,000,000 10.7462 21,492,400

Fixed Maturity Plan

370D Mar 11(4) - Growth 1,900,000.000 19,000,000 10.0437 19,083,030

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166

���������“01”�������� #��9�� ��,-�� ��� � ,��U����#�����SCHEDULE “D” INVESTMENT Q U A N T I T Y B O O K V A L U E M A R K E T V A L U E

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As at As at As at As at As at 31.03.201131.03.2011 31.03.2010 31.03.2011 31.03.2010 ()��/ Rate #����� / Value

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���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.

�����������!#�!.�A�Q��=>�,-�����"��A��=>XIX - ���������GG8�(���:�Reliance MF 2,000,000.000 20,000,000 10.0508 20,101,600

Fixed Horizon Fund -

XIX - Series 11 - Growth

!��,���/4!#�!.�=�>����A��=>��������Z[H�r=l�8�^�8�(���:�SBI MF 2,000,000.000 20,000,000 10.1704 20,340,800

Debt Fund Series -

370 Days - 9 - Growth

Q8�7����@��/ SUB-TOTAL 128,485,784 46,985,784

()$��4��� ���������7�������%&�01�������LONG TERM INVESTMENT - Quoted SHARES

,���!��.T��/������������Y�����������#�?BCL Financial Services Ltd. 6,400 6,400 64,000 64,000 - 1

EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each, fully paid

#�����������%&������#�?Malvika Steels Ltd. 48,600 48,600 1,944,000 1,944,000 - 1

EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each, partly paid

D+�� ���������+�� � � ��EF@�ZHC8I�/ (Premium of � 30/- each)

!��������#�?�ACC Ltd. 20 20 1,100 1,100 1,075.00 21,500

EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each

%&�%&�%&����#�?�Tata Tea Ltd. 2,290 2,290 130,049 130,049 97.75 223,848

EF@�J\@[^�+�� ���������YY^H�?Q��������� ��2290 Equity Shares at cost of � 56.79 each

!��!��8�������#�?�NHPC Ltd. 50,000 50,000 1,687,575 1,687,575 25.35 1,267,500

EF@�GHC8�+�� ���������?Q��������� ��T����'�.�����)*X�Equity Shares of � 10/- each

�01,�������DEBENTURES

��������7����������@�C�Tata Capital Ltd. 500 500 50,000,000 50,000,000 - Not Quoted

EF@�1,00,000C8�+�� ����������"������=>�NCDs of � 1,00,000/-each

������������T��8�%&������#�Reliance Capital Ltd. 30 30 30,000,000 30,000,000 - Not Quoted

EF@�1,000,000C8�+�� ����������"������=>�NCDs of � 1,000,000/-each

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167

_���� ���P����������.��A��?"�;������@��� �Sriram Transport Finance Co. Ltd. 100 100 10,000,000 10,000,000 - Not Quoted

EF@�1,000,000C8�+�� ����������"������=>�NCDs of � 1,00,000/-each

��������?����"� �`�6���� �@Patel Engineering Ltd. 200 20,000,000 Not Quoted

EF@�1,00,000C8�+�� ����������"������=>�NCDs of � 1,00,000/-each

���K=>�/ BONDS

?�=> ���?"a����P����#���A��?"�;������@��� �@EF�GTHHTHHHC8�+�� ������������ �1Q�����K�=>India Infrastructure Finance Co.Ltd. 500 500 50,000,000 50,000,000 - Not Quoted

Tax Free Bonds of � 1,00,000/-each

?�=> �"����������A��?"�;����������������"�EF�GTHHTHHHC8�+�� ������������ �1Q�����K�=>Indian Railway Finance Corporation 500 500 50,000,000 50,000,000 - Not Quoted

Tax Free Bonds of � 1,00,000/-each

Q8�7����@�� SUB TOTAL 213,826,724 193,826,724

�������#,����� ������������� Total Long Term Investment 342,312,508 240,812,508

���������“01”�������� #��9�� ��,-�� ��� � ,��U����#�����SCHEDULE “D” INVESTMENT Q U A N T I T Y B O O K V A L U E M A R K E T V A L U E

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As at As at As at As at As at 31.03.201131.03.2011 31.03.2010 31.03.2011 31.03.2010 ()��/ Rate #����� / Value

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������������������E)�����/ Current Investment Un-Quoted 35,633,041 122,587,161

��������"������� �;�!����,�-��1�+�������"��C Less Provision for Diminution in Investment - -

Q8�����@�� Sub Total 35,633,041 122,587,161

()$��4��� �������������E)������ Long Term Investment Un-Quoted 128,485,784 46,985,784

��������"������� �;�!����,�-��1�+�������"��C Less Provision for Diminution in Investment 26,985,770 26,985,771

Q8�����@�� Sub Total 101,500,014 20,000,013

()$��4��� ���������QE)������ Long Term Investment Quoted 213,826,724 193,826,724

��������"������� �;�!����,�-��1�+�������"�Less Provision for Diminution in Investment 2,173,073 2,173,073

Q8�����@�� Sub Total 211,653,651 191,653,651

vqKo gtud / Grand Total 348,786,706 334,240,825

���������“01”��������SCHEDULE “D” INVESTMENT

��,-�� ��� � �B O O K V A L U E�����������������As at

31.03.2011�

�����������������As at31.03.2010

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168

rfUhtY vh ôxtfU / Stock-On-Hire 11,911,409 13,435,519

DxtYk & yr;=ug rJúteg ŒCth

Less : Overdue Finance charges 2,523,617 2,720,9089,387,792 10,714,611

�����������������������)*6�����������,�-��1�+�������"�/Less : Provision on doubtful stock -on-hire 9,387,792 - 10,714,611 -

rlJuN vh Wvra; çgts /

Interest accrued on Investment 4,795,876 2,655,822

begt=e sbt vh Wvra; çgts /

Interest accrued on Fixed Deposit 12,430,689 6,867,934

ŒtËg c{tufUhus/Brokerage Receivable 315,769 7,468,900

yàg/Others 51,000 51,000

17,593,334 17,043,656

���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.

���������F/4G77������ �(�)��()���SCHEDULE “E” - SUNDRY DEBTORS

������ �(�)��()���/ SUNDRY DEBTORSa) b,-� ��,-�������������������������� ���%&'�

Debts outstanding for a period exceeding six monthsyŒr;Cq; YJk yåAu btlu dY

Unsecured and considered good - -mkr=É" btlu dY

Considered doubtful 6,005,077 6,162,896b) �" ��%&'� / Other Debts 57,632 -

6,062,709 6,162,896�������������)*6���%&'��,-���1�+�������"�Less : Provision for doubtful debts 6,005,077 6,162,896

57,632 -

������������/ As on ������������/ As on31.03.2011 31.03.2010

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������������/ As on ������������/ As on31.03.2011 31.03.2010

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���������F!.�G77lfU=e YJk cîfU NuMSCHEDULE ‘F’ – CASH AND BANK BALANCES

lfU=e YJk cîfU NuM / CASH AND BANK BALANCES

htufU\z NuM/Cash In Hand 5,349 5,675

ylwmqra; ��7����� fuU vtm NuM / Balances with Scheduled banks

at q Ft;u büü / In Current Accounts 3,317,020 6,158,800

begt=e sbt Ft;u buk / In Fixed Deposits Accounts 50,000,000 50,000,000

53,322,369 56,164,475

���������FI�G77yàg������ytrô;gtkSCHEDULE ‘G’ – OTHER CURRENT ASSETS

������������/ As on ������������/ As on31.03.2011 31.03.2010

� �

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169

*���� ���� / PROVISIONS

������"���<X�����4��C Retirement Benefits -

bc1��N����"���)*����'��C Leave Encashment 338,127 220,882

(��# �1����C Gratuity 528,552 866,679 808,459 1,029,341

�"�1���6������4�����CFringe Benefit Tax 51,000 51,000

�� ������C Income Tax 42,253,862 56,053,862

�"���.�����$����C Non Performing Assets 16,478,865 16,478,864

59,650,406 73,613,067

�� �!�����"�#��LOANS AND ADVANCES"���)*��:�������' �� �����:�����+�������������"���������� ��� �,-���1�������������"�����������(� �Advance recoverable in cash or in kind or for

value to be received 1,272,386 1,467,370

�����8��������������� ��C Inter-corporate Deposit 200,000 200,000

�������������)*6����� ���,�-��1�+�������"�

Less : Provision on doubtful deposit 200,000 - 200,000 -

�(� ���� ����T�d�����������������6� ������ Advance Income Tax , Tax Deducted at Source 101,404,013 96,836,338

�(� ���"�1���6������4������/ Advance Fringe Benefit Tax 90,633 97,033

�(� �������������/ Advance Service Tax 10,635 1,671,500

+��� ��� ����������A��=>�/ Interest Tax Refund Receivable 101,372 101,372

�������6���� �����,�-��1�+�)*X���(� �Advance Paid for Capital Goods 1,464,000 1,464,000

�������������)*6����(� ��,�-��1�+�������"� Less : Provision on doubtful advance 1,464,000 - 1,464,000 -

������� ��;������%&'�������%&'��;�����0��#����� ����Loan to Officers and Interest Accrued on Loans 747,110 690,502

103,626,149 100,864,115

������(�)�����!� / CURRENT LIABILITIES

����������"�)*���D� � ��������" �ISundry Creditors (Expenses and Others) 7,638,178 6,473,703

+���4������� �� / Security Deposit 60,831 60,831

7,699,009 6,534,534

���>�����Ctd ���KL8�#����������� ��+��,�-��.��/���������?Schedules Forming Part of the Accounts AllBank Finance Ltd.

���������F!��G77�� �!�����"�#�SCHEDULE ‘H’ – LOANS AND ADVANCES

���������F��/4G77������(�)�����!�SCHEDULE “I” - CURRENT LIABILITIES

������������/ As on ������������/ As on31.03.2011 31.03.2010

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������������/ As on ������������/ As on31.03.2011 31.03.2010

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���������FI��G77*���� ����SCHEDULE “J” - PROVISIONS

������������/ As on ������������/ As on31.03.2011 31.03.2010

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170

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��� �.������6����/ PERSONNEL COST

�����"��/ Salaries 3,572,635 2,552,094

4���� ��"��������)*�"�������+������"����+�4���Provident Fund Contribution and Admn. Charges 328,562 236,091#��������� � ��/ Medical Expenses 247,143 321,771

�" ��COthers 769,151 293,6714,917,491 3,403,627

���������F!��G77fUtrbofUtü vh ÔggSCHEDULE ‘N’ : PERSONNEL EXPENSES

������������/ As on ������������/ As on31.03.2011 31.03.2010

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���������F!#��G77��������SCHEDULE ‘M’ : OTHER INCOME

�" ���� ��/ OTHER INCOME

���"����7����� ���6� ���+�������"����/ Provision written back for :�"�1�� ���� ����$��� ��;�,�-��1�C�Non Performing Assets 1,681,929 1,278,142� � ��/ Expenses 76,988 6,750"������� �;�����!����/ Diminution in Investment - 26,809

- - (165,075) (138,266)��������� ��/ Miscellaneous Income 303,077 103,804�����.�����.����������� �)*�/ Prior Period Item - 610,342

2,061,994 1,860,772

���������F!��G77*��8��,���I�SCHEDULE ‘L’ – INTEREST RECEIVED

������������/ As on ������������/ As on31.03.2011 31.03.2010

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� ������� ��/ INTEREST INCOME

�� ��)*���� �������� �����D������IInterest on Fixed Deposit(Gross) 6,180,841 5,617,941

[ ���=>����8618,086�D6��������.8�557,989/-I][TDS - 618,086/- (Pre. Yr. - 557,989/-)]

����A��%&'������� �����/ Interest on Staff Loan 79,008 78,541

6,259,849 5,696,482

������������/ As on ������������/ As on31.03.2011 31.03.2010

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���������F���G77������������SCHEDULE ‘K’ – INVESTMENT INCOME

"��������� ��/ INVESTMENT INCOME

����=>��Jk�=>��;#��������� ����Interest on Bonds and Debentures 17,691,972 11,055,891���4�������� �8��� ��� / Dividend Income - Shares 28,650 278,500���4�������� ��8�C�Dividend Income - ��#�1����A��=>� ��"����D� �������"������I�CMutual Fund Units ( Trade Investments ) 5,364,971 6,558,693"�������;�������O����������4�� / Profit on sale of Investments 153,863 16,349,564"�������������O�������,-�"� / Loss on sale of Investment 153,863 (26,360) 16,323,204

rô:h ytrô;gtku fuU rlvxtl vh ÖttC

Profit on disposal of Fixed Assets 2,880 -

23,242,336 34,216,288

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171

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���������FytuG77*������r��f !������������

SCHEDULE ‘O’ : ADMINISTRATION AND OTHER EXPENSES

��#��8����:�4/ Year ended ��#��8����:�4/ Year ended31.03.2011 31.03.2010

� �

��9�����������,-"��/ Travelling and Conveyance 533,557 470,794

ŒfUtN��������e1���/ Light and Electricity 252,643 273,515

��1����;���������9�������/ Books and Periodicals 48,254 50,671

�1f*'����������/�"����� �(���/ Printing and Stationery 159,353 110,552

� ������ ��mkJ"ol�� � ��/ Business Promotion Expenses 2,208 9,573

=>����/�#�.������������A���"��/ Postage and Telephone 301,484 237,950

�� �.#�����+�����'��/ Staff Training 13,324 66,202

�� ����������"�1���'��/ Repair and Maintenance

8���� ��9������� ����"����/ - Plant and Machinery 79,126 40,035

- �" ��/ - Others 404,134 483,260 383,684 423,719

��� ���+�4����/ Insurance Charges 13,128 12,440

��g����"�������+�#����/ Advertisement and Publicity 314,168 92,459

�4�)*�"���������)*� �������1����/Subscription and Membership Fee 1,096,035 1,112,029

"�)�*�����;�������7hi���������1����/ Directors Sitting Fees 55,000 62,500

���/�����������;���������_� ����/ Auditors Remuneration

- ���/������������1����/ - Audit Fee 25,000 27,575

- �������/������������1����/ - Tax Audit Fee 7,000 7,721

- ���/�����������;����� ��9���������" ��������������/�������������1���

- Auditors Travelling and Others 102,342 134,342 100,209 135,505

� ������ ����������� ���.���1����/ Internal Audit Fees 80,000 22,151

� ������ ����������� ���.���1����/ Profession & Consultancy Fee 115,166 342,968

�������� � ��/ Legal Expenses 330,246 273,694

"�)�*�����;����� ��9��� YJk ����=.>���7hi�������� � ��/Directors Travelling and Board Meeting Expenses 805,751 787,702

��R���+�4����/ Bank Charges 3,928 2,736

�������� � ��/ Miscellaneous Expenses 55,840 17,957

��� ��.�� ��Fao�/ Office Expenses 168,236 273,038

������/��������=>���$����/�Leased Assets Written Off - 67,405

$�:�����$��� ����������O�������,-�"�

Loss on disposal of Fixed Assets - 37,902

�����.�������� � � / Prior Period Expenses 3,086,370 -

=h YJk fUh / Rates and Taxes 1,265,242 1,746,193

������ ��%&'��������/����/ Bad Debts written off 8,654 428,842

9,326,189 7,058,497

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172

��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

Schedule ‘P’ : Significant Accounting Policies:

(a) Basis of preparation of Financial Statements

The financial statements are prepared in accordance withapplicable accounting standards and relevant provisions ofthe Companies act,1956 and are based on the historical costconventions. Accounting policies unless specifically stated tobe otherwise, are consistent and are in consonance withgenerally accepted accounting principles All expenses andincome to the extent considered payable and receivable, unlessstated otherwise, have been accounted for on accrual basis.

(b) Use of Estimates

The preparation of financial statements require managementto make estimates and assumptions that affect the reportedamount of assets and liabilities and disclosures relating tocontingent liabilities and assets as at the Balance Sheet dateand the reported amounts of income and expenses during theyear.

Contingencies are recorded when it is probable that a liabilitywill be incurred and the amounts can reasonably be estimated.Differences between the actual results and estimates arerecognized in the year in which the results are known /materialized.

(c) Revenue Recognition

(i) Lease Finance

The Accounting Standard 19 (AS–19) on Leases cameinto effect in respect of all assets leased during accountingperiods commencing on or after 1.4.2001. Since theCompany has not sanctioned any lease on or after1.4.2001, the AS–19 is not applicable to the Company.

Lease Rentals are considered on the due dates in termsof lease agreements.

Lease Rentals are not considered where Leased Assetshave been classified as Non– Performing Assets (NPA)under the Prudential Norms announced by Reserve Bankof India.

However, the Company had registered itself as a CategoryI Merchant Banker in the year 2005 and had surrenderedNBFC license since it discontinued HP and Leasingbusiness.

(ii) Interest income is recognized on a time proportion basisdepending upon the amount outstanding and the rateapplicable and to the extent considered realizable.

(iii) Income on account of dividend is recognized when theright to receive is established.

(d) Fixed Assets

Fixed Assets are capitalized at cost inclusive of installationexpenses as incurred by the Company.

�����������‘ ��’�� ����� !� ��"�#������������ �$��%

&��'��!�(��$���!�!�)*"�� �+$��)*���)*���������,��)*

� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � ! � " � � # � � � � � � � � � � � � � � � � � � � $ � � � � " � � � � � � � � � % � & � � " � � � ' ( ) � � � � � � � � � � � � � ! � " � � � � � ! � " �� � � � � � � � * + � � � �� � � �� � � � � � � " � �' � , �� � � � � � �� � � � " � � � � �& � - � �" � � � �� � � . � � �� � � � � � / 0 1 2 * + �� � �' ) � � �� � � $ � 3 � � � � ' ( ) � � � � � � � � � � � � " � � � � � � � 4 � " � � � � � � � � � � � 5 1 � " � � � � � � � � � � � $ 6 7 � � � ' ( ) , � 0 � 1 � � � � � �# � � � � � � � � � � � " � � � � � � � � � � � ! � % � � 8 � � � � � � �� � � � � � � � � � � � � � � � � � � � � & � - � � " � � � � � � � . � �� � � � � � / 0 1 2 * + �� � �' ) � � � �9 � � � : � " � �� � � � � � �� � � �� � � � � �! � � � �' � ) ,

&��'�-��.�����������-�$����

� � � � � � � �� � � � � � � � �" � � � � � �� � � � � � �' � ) " � $ �% � � � �# � - � � � � � �� � � �� � � � ; � � � " � � �' ) � � " � � �' � ) �& � � � �% � � �� � � $ � � � � � �� � � � �# � � < � � � � � � �� � � " � � �' ( ) �& � � � �� � � � � � * � + �� � � �! � = � �� � > " � � � � �� � � � �0 � 1 � " � � � � �� � � � � � � � � � � � � � � # � 8 � � � � � " � � � � � " � � � ' ( ) � � � � � � " � $ � � � � � � � ? � � � � � � " � � � � � � � � � � � � � � � � > � � � �0 � 1 � " � � � � � �" � . � � �� � > " � � � � �� � � � �� � 2 � � �� � � �0 1 � � � � � � �� � � � � � * � + �� � � �! � = � �� � � �� � � � �� � � �� � � � � � ; � � � � � � - � � � � " � �# � � � * + � � � � � � �' ( ) ,

� � � � > � � � � " � � � � � �� � � � �" � - � �0 1 & � � �� � � � � �& � � " � � �' � ) �& � - � �= � �- � � " � �� � � � � 8 � � � � � � � �' ) � � �� � �0 � 1 � " � � �9 � � ! � " � �' ) � � ! � � �� � � � �9 � � � � � ; � �� � � � � � � $ � : � " � �# � � < � � � � � � �� � � � � �& � � � � � � " � �' � ) , � � & � � � � � 2 � � � � � � � � � � � � � @ � � " � A � � 3 " � � � ' ) � � " � � � ' ( ) � 9 � � � � 2 � � � � � � " � � � � � � � � � � � � � � � � � � � � � � �# � � < � � � � � � � � � � � � � � " � � � � � � � � � � 8 � @ � � " � � � � � � � � & � � " � � � ' � ) ,

&�' htsôJ yrCÒttl

�i� vxTxt rJútvtuMK&

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btlfU �� (YYm-��) Öttdq ni> akqrfU fkUvle lu �������� fUtuy:Jt RmfuU vˆat; fUtuRo Öte»s mkôJef]U; lnek fUe y;& YYm-

�� fkUvle vh Œgtußg lné ni>

Ötes fUhth fuU ylwmth =ug r;r: � � � � Ötes rfUhtY � � � rJath� � � � � � & � � " � � � ' � ) ,

Cth;eg rhsJo cikfU õtht DturM; rJJufUmöb; btl=kztü fuU yk;do;

snât ' ) � B Öteßz ytrô;gtk ylwvgtußg ytrô;gtü (YlveY) bü Jdeof]U;' ) � � � � ' ) � B Ötes rfUhtY vh rJath lnek rfUgt dgt>

" � . � � � � � �� � � � � � � �� � � � � � � �� � � � �� � 2 � � �C D D � �� � � �E � � � � � F , �� � : � � � * + �- � ( � � � �� � � �6 7 � � �� � �� � & � � � 4 � " � � � � � � � � ' � ) ) � " � . � � � : � B � 3 � � � � � � � � � � � � � - � � � � � � = � � % : � � � � � % � � � � � � � & � ! �� � � � � � - � � � �� � ' ) � �� � � � � ' ) � �' � ) � �� " � % � � �9 � � � � �! � � � �- � ( � � � ! � �� � � � � � � � � . � � �� � �6 7 � � � � � � � � � � � � � � � � � = � � � � � � � � � � � � � � � � 0 1 � � � ' � ) ,

GiiH - � � & � �� � � �� � � �� � 8 � @ � � � � �- � � � � � � � � � � ; � �" � . � � �# � � � � & � �0 1 � �� � � �� � � � � � �� � �� � � 3 � � � � � � � ! � � � � � � � � � & � � � � � � � � � � � � � � � � � � � � � � � � � � � � � " � � � � � � � � � � � � � $ � � � " �� � � � � � � � � � � � � � � � � & � � " � � � ' � ) ,

(iii) � � � 8 � � ; � � � � � � � � � � � " � - � � � � 8 � @ � � " � � � � � � � � & � � " � � � ' � ) � & � - � � = � � � � � # � � > � " � � � � �� � � � � � � � � . � � � � � " � � ' ) � � � & � � " � � � ' � ) ,

���� yaÖt ytrô;gtk

fkUvle Åtht ô:tvlt vh rfY dY Ôgg mrn; yaÖt ytrô;gtü fUt

vkqsefUhK Öttd; vh ntu;t ni>

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173

(e) Leased Assets

Assets purchased and given on lease are capitalized oninstallation at cost and installation expenses.

(f) Depreciation

(i) Assets other than given on Lease:

Depreciation is provided under Straight Line Method atthe rates and in the manner as per Schedule XIV of theCompanies Act, 1956.

Intangible Assets are amortised over a period of five yearsor in lesser period if useful life is lower than five years onstraight line basis.

(ii) Assets given on Lease:

Depreciation on Leased Assets is provided as per theGuidance Note on ‘Accounting for Leases’ issued by theInstitute of Chartered Accountants of India.

Depreciation on all the fixed assets (including LeasedAssets classified as Non Performing Assets) has beenprovided on straight line method at the rates prescribedin Schedule XIV of the Companies Act, 1956.

(g) Investment

Long Term Investments are valued at cost. Provision fordiminution in value of investment is made for decrease invalue of such investments if permanent in nature as atthe end of the year.

Current Investments are valued at the lower of cost andmarket value.

In cases where Investments are listed but marketquotations are not available, the value of the investmenthas been taken at Re. 1/- per Company.

In the case of shares acquired in settlement of M/s V BDesai A/c pursuant to the Order of The Special Court,Mumbai, constituted under The Special Courts (Trial ofOffences relating to Transactions in Securities) Act, 1992,the cost of acquisition of the Shares so acquired havebeen taken at the net amount due from M/s V B Desai,prior to such ruling. This investment has been consideredas Long Term Investment.

Investments made in various Mutual Funds whereduration of scheme exceeds one year have beenconsidered as Long Term Investment.

(h) Prudential Norms

Although the Company is not doing Hire Purchase andLeasing business yet the Directions issued by the ReserveBank of India regarding prudential norms for Non-BankingFinancial Companies for income recognition, assetclassification and provisions have been followed,wherever found applicable.

��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

(��) vxTxu vh Öte dRo ytrô;gtk

f{Ug fUe dRo YJk vxTxu vh =e dRo ytrô;gtü fUt vqksefUhK ô:tvlt

Öttd; YJk ô:tvlt Ôgg vh rfUgt dgt ni>

&��) bqÖgÄtm

(i) Ötes vh =e dRo ytrô;gtü fuU yÖttJt yàg ytrô;gtk &

fkUvle yr� �rlgb,��� fUe ylwmqae XIV�bü rl� �torh; =htü vhme� � � huFt ŒKtÖte vh bqÖgÄtm fUt ŒtJ� � � � � rfUgt st;t ni>

� � � 3 " � � �� � > " � � � � �� � � � �� � � : � �� � 2 � � I �� � � �� � � � � � �� � � �� . � � � � � � � 0 1 �9 � � � � � ! � � �� � � � � �� � � : � �� � 2 � � � � � �� � � � �' ) � � �" � � � �� � � � J � � � 4 � " � �� � � � �� � � � � � �� � � � � � � � � � � � � � � �# � � � � � � � � � �� � � � ; � � � � � � " � � � � � � � � & � � " � � � ' � ) ,

(ii) vxTxu vh =e dRo ytrô;gtk &

Cth;eg ml=e ÖtuFtfUth mkô:tl Åtht sthe IYfUtWrãxkd VUtph

ÖterskdO vh dtRzuàm ltux fuU ylwmth Ötes vh =e dRo ytrô;gtü vh

bqÖgÄtm fUt ŒtJ� � � � � rfUgt st;t ni>

fkUvle yr��rlgb, 1956 fUe ylwmqae XIV�bü rl��torh; =htü vh me��ehuFt ŒKtÖte vh mbô; ytrô;gtü (vxTxu vh =e dRo Wl ytrô;gtü fUtu

rbÖttfUh rsànü ylwvgtußg htrN fuU Áv bü Jdeof]U; rfUgt dgt ni) vh

me��e huFt ŒKtÖte vh bqÖgÄtm Œ=tl rfUgt st;t ni>

(��) rlJuN

=eDo yJr� ��fuU rlJuN fUt Öttd; vh bqÖg rl� � ��hK rfUgt st;t

ni> JMo fUe mbtr¹t vh rlJuN fuU bqÖg � � � Ätm nu;w ŒtJ� � � � � YumurlJuN fuU bqÖg bü fUbe ntulu vh rfUgt st;t ni>

J;obtl rlJuN fUt bqÖgtkfUl àgql;h Öttd; YJk ctsth bqÖg vh

rfUgt st;t ni>

sntk rlJuN mqaecõ fUh rÖtgt ntu vhk;w ctsth fUtuxuNl WvÖtçD

l ntu Yumu btbÖtu bü rlJuN fUt bqÖg h¥. 1 Œr; fkUvle rÖtgtstYdt>

rJNuM àgtgtÖtg (Œr;Cqr; Ötul-=ul mkckDe yvht� � � � �fUt rJathK)� � � � � � � � � �, � � � C fuU yk;do; drX; rJNuM àgtgtÖtg, bwöcRo fuUyt=uN fuU ylwmhK bü � � �D Je.ce. =umtRo Ft;t fuU rlvxtl muyrso; Nughtü fuU btbÖtu bü Rm ŒfUth yrso; Nug�tü fUe Öttd; fUtuYumu rlKog mu vqJo � � �D Je.ce. =umtRo mu cfUtgt rlJÖt htrN vh

rÖtgt dgt ni> Rm rlJuN fUtu =eDofUtrÖtfU rlJuN btlt dgt ni>

� � � � 8 � K � �� � $ : � $ � � � �9 " � � � 0 1 � � �� & � � � � � � � � � � &� � � � � � � � � �% � � �� � 2 � � � � � �� � � � � � �' � ) � �� � �� � � � � � ; � � � � � � � 0 1 � L � � � � � � � � � � � � � � � � � � ; � � � � � � � � � ! � � � � ' � ) ,

��� rJJufUvqKo btl=kz

g‘rv fUkvle rfUhtgt-Fhe= YJk Öterskd ÔgJmtg lnek fUh;e,

rVUh Ce & � ' ) � F � � ' ) M �# � � � � & � �' ) � � �ytg yrCÒttl, ytrô; JdeofUhK YJk

ŒtJ� �tl nu;w dih cîrfkUd rJúteg fkUvrlgtü nu;w rJJufUvqKo btl=kz fuU

mkckD bü Cth;eg rhsJo cîfU Åtht sthe rl=uoNtü fUt ylwvtÖtl

rfUgt dgt ni>

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174

(i) Sundry Debtors

Amount due/ receivable but yet to be received at the endof the year on account of Lease, Hire Purchase, thirdparties etc. are debited to Sundry Debtors Account andcredited to respective income/ assets account.

(j) Provision for Non Performing Assets

In case of Installments due for more than 12 months fromHire Purchase, Lease, etc and in case of interestremained due for more than 6 months from InterCorporate Deposit, the asset is treated as Non PerformingAssets and no income is considered in the accounts.

Provision for a Non-Performing Asset is made by debitingProfit & Loss Account.

(k) Impairment of Assets

An asset is treated as impaired when the carrying cost ofassets exceeds its recoverable value. An impairment lossis charged to profit and loss account in the year in whichan asset is identified as impaired. The impairment lossrecognized in prior accounting periods is reversed if therehas been a change in the estimate of recoverable amount.

(l) Employee Benefits

Employee benefits accrued in the year are for servicesrendered by the employees. Contribution to definedcontribution schemes such as Provident fund isrecognized as and when incurred.

Long term employee benefits under defined benefitsscheme such as gratuity and leave encashment aredetermined at close of the year at present value of theamount payable using actuarial techniques.

(m) Taxes on Income

Provision for tax is made for both current and deferredtax. Current Tax is provided on the taxable income usingthe applicable tax rates and tax laws. Deferred tax assetsand liabilities arising on account of timing difference whichare capable of reversal in subsequent periods arerecognized using tax rates and tax laws which have beenenacted or substantively enacted. Deferred tax are notrecognized unless there is sufficient assurance withrespect to the reversal of the same in the future years.

(n) Provisions , Contingencies and Contingent Assets

Provisions involving substantial degree of estimation inmeasurement are recognized when there is a presentobligation as a result of past events and it is probablethat there will be an outflow of resources and a reliableestimate can be made of the amount of the obligation.Contingent Assets are neither recognized nor disclosedin the financial statement . Contingent Liabilities are notprovided for and are disclosed by way of notes.

��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

�� rJrJ,� =ul=th &

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� � " � � � � � � � �� � � � �� � . � � ! � " � �� � � �0 1 � � � � � � �' � ) " � $ �� � � �� � � �# � � � � � � � � � �� � � � � �& � � " � � �' � ) ,: � � � � 3 � � � � � � � � � # � � � � � � � � � � # � � � � & � � � � � � 0 1 � � � � � � � � � � � � � � � � � � 3 � � � � � � � � � # � � � � ! �� � � " � � �' $ ) % �� � � � � � � ! � �� � � �� � � �� � � � � �& � � " � � �' � ) , � � � � � �� � � �� " � � �� � � �� � � � � �9 " � � K � �� � . � � ! � " � �� � � �� � > " � � � �� � � � �0 � 1 � " � � % � �� & � � ' � ) �� � � � � " � P �� � � � � � �� � �# � " � � � � / " � " � �� � � � � �& � � � � � � " � � �' � ) � �� � � �� � 8 � @ � � � � ��� � � � � � � � � � � " � �� � � �0 1 � � �� � � � �� � � �� � � � � 3 � � � � �� � � �# � � � � ! � �� � � " � � �' $ ) % �� � � � � �& � � " � � �' � ) �, �� � . � � ! � " � �� � �� � � � �" � - � �" � � � �� � 8 � @ � � " � �� � ' ) M �� � � � � �& � � " � � �& � - � �" � � � �8 � � � � � �� � 2 � � I �� � � �= � � � �# � " � � � � " � � � � � � � � � � - � � � � � � � � � � � � � � � " � � � � Q � � � � � � � � � ' ) � � ,

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Page 175: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

175

��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

ylwmqae ���� & ÷tuFt¸ vh rxÀvrKgtkSchedule ‘Q’ — Notes on Accounts :

1. ytfUrôbfU =ug;tYk rslfuU rÖtY ŒtJ"tl lnek rfUgt dgt ni & Contingent liabilities not provided for :

(fU) rJrCàl yveÖteg Œtr"fUhKtü fuU mbG Ötkrc; btbÖttü, sntk fkUvle mVUÖt;t fUe yvuGt fUh;e ni, fuU mkck" bü rJJtr=; ytgfUh YJk

çgts fUh =ug;tYk>

(a) Disputed Income Tax liability in respect of matters pending before various Appellate authorities where the Company expectsto succeed.

bqÖgtkfUl JMo 31.03.2011 31.03.2010Assessment Year ytgfUh / Income-Tax ytgfUh / Income-Tax

2002-03 - 344.18

2003-04 627.62 620.55

2004-05 70.52 109.79

2005-06 23.44 38.06

2006-07 15.32 29.99

2007-08 55.18 66.47

2008-09 8.07 -

������ Total 800.15 1,209.04

The change in the figure of the tax liability is due to order passedagainst or in favour of ABFL , partly deposited and aggrieved,preferred appeal.

(b) Claims against the Company not acknowledged asDebts : � 1,175.76 lakh. ( Previous Year �1,175.76 lakh)

(c) A writ Petition has been filed by some employees of theCompany in Delhi High Court for Salary revision. However,the same has not been provided for as the managementfeels that it has a good case. Moreover, the amountremains un-quantified.

(d) The Company had acted as lead manager of AustralCoke & Projects Limited IPO issue in August,2008. A closecompetitor of the said company filed civil suits againstthe company and its promoters and also made MerchantBankers , Independent directors, Auditors and Solicitorsas party to the suit. There is no quantification of anycompensation or amount against ALLBank Finance Ltd.

(e) A case has been filed by a private limited company foreffecting sale of The Orrisa Minerals DevelopmentCompany Ltd. ‘s share to them. According to legal opinion,the Company believes that the case is not maintainable.

2. As per the order of the Hon’ble Special Court, the deliveryof shares on 13.05.1992, by M/s V B Desai to AllBankFinance Ltd., constituted complete transfer of property inthe shares in favour of the Company. Accordingly, theCompany became the owner of the shares from the dateof delivery of the shares and was entitled to all accretionsand rights declared thereafter. Pursuant to theabovementioned order, the acquisition of the shares hasbeen considered as Long Term Investment.

���ÖttF� � � � � �/ (� In Lakh)

� � �� � � � � � � �� �� � � � � � � � �� � � �� � � � � � � � � � � �� � � � � � � � � � �� � � � � � �� � � �� � � � � � � � � �� � �� ! � � � � " # $ % � � � & � � � ' � ( � � � � � � � ) � � � � � � � � � ) � � � � � � � * � � � � � � � � + , - � � � � � � � � � � � � � � & � � � � � � . � � / " 0 � � � / 0 1

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� 8 �� � � � � � � � �� �� � ! � � �� � � � � 9 � � � � �: � � � � �� � � � � � �! � � & � � � � � � �/ 0 � � " �� � � � � � � �/ 0 � ; � �� � $ % �� � � �� � �� � $ % �� � � � 9 � � � �� � � � � � �� � �8 � ; � �/ 0 1 �� � * � � � � � �< ! � � �� � � � �= � � � � � � � � �� � / 0 � �� � � � � �8 � � � � �/ 0 �> � � � � � � �= � � � � � � � � �� � �� � � � �/ 0 �� � �< ! � � � �� � ) � �� � ( � � � ? � �/ 0 1 � ; ! � � � � � � � � � @ � � � � � � A � � � � � 8 � . � � � / 0 1

� B � � � � � � � � � � � � � � 8 � ! � � � C D D E � � � � � � � ! $ F % � � � � � � � � � G � � = � � ( � > $ H % ! � � � � � 6 � � � � ; � � � � � � � ; & � � ? � / 0 � � " � � � � G � � � � � � ( � � � � � � � � � � � � � � � � � 1 � < @ � � � � � � � � � � � � � ����$%�=����!����I��� ����������� ��;!�� �=���� $%!���� ����+,-���!������������������� � � �� � �� � � � � �� � � � 2 � � � �� � �� � � � � � �� � * � � �� � 9 � J $ % �� � K � � L �! � � � � � M � �� � � � � & � � �� � �� � 2 � � � � � � ) � � � � � � � * � � � ! � � � � � � ! � $ % � � � � � � � � � � $ % I � � � � � � � � � � � � � 1 � � ; ! � � ! � � � � � � � � � � �� � � � � � � K � � � � ; � � � ! � � � � � � � + , - � � � � ; � � � � � & � # � � ) � � � � � � ? N � � � � * � � � � � � � � � � � � / 0 O� � � � � � � � / 0 1

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Page 176: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

176

��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

3. Advance income tax, tax deducted at source ,incometax refund receivable, interest tax refund receivable andadvance fringe benefit tax amounted to � 888.96 lakhsas on 31.03.2011( � 779.86 lakhs as on 31.03.2010 ) arepending adjustment at various stages of assessmentsand appeals.

4. Details of Prior Period Items under “Other Income”

2010-11 2009-10

V � � � � ( � � � � � � � Brokerage Income 610,342� " � �� Total 610,342

2010-11 2009-10

� � � � � & 9 � � � � � � � � A � � � � � � ? � � � $ % � � � � W X � � � � � � � = � � � " @ � /Profit after Tax ( used as Numerator ) 27,950,799 71,492,466

� � # � � � � � � � � � A � � � � � � ; Y > � � $ % � � & � � � � � � � � � � ! � � 2 � � � � ZNumber of Equity Share at the beginning of the year 1,500,000 1,500,000

� � # � � � � � � � � � � � � � � ; Y > � � $ % � � & � � � � � � � � � � ! � � 2 � � � � ZNumber of Equity Share at the end of the year 1,500,000 1,500,000

� � # � � � � � � � � � � � � � � � � � � � � � ; Y > � � $ % � � & � � � � � � � � � � A � � � � � � � � � ! � � � � ! � � 2 � � � � � � G � � � � � � � � � $ % � � � � W X � � � � � � � = � � � " @ �Weighted average number of Equity Shares outstanding during the year

( used as denominator ) 1,500,000 1,500,000

; Y > � � $ % � � & � � � � � � � � � � � ! � � � � � � � � � � � ? � � � �/Nomi Nominal value of Equity Share – � 100 100

= � � � � & � � � � �� � ? � � �� � � �G � � ; � � � ? $ % G � �� ( � � � � �ZBasic and diluted earnings per Share – � 18.63 47.66

6. As the company’s business activity falls within a singleprimary business segment viz. dealing in CapitalMarkets and allied activities and in a single geographicalsegment, the disclosure requirements of AccountingStandard ( AS – 17 ) “ Segment Reporting “ issued byThe Institute of Chartered Accountants of India are notapplicable.

( ��� � � ZIn � )

2010-11 2009-10

� � � � � � � Z �Salary 600,000 600,000

� � � � � � � � � � � � � � � Z House Rent 240,000 240,000

A � � � � # � � � � � � � � � � � � � � � � & � � � � � � � Z Contribution to Provident Fund 72,000 72,000

� � � � � � � � A � � / Other Benefits 321,592 221,592

[ � 9 � � " $ % � � / 0 � � " � = � � � � � � � � � � Z Provision for Gratuity 40,820 28,846

\ " ] $ % H $ % � � = � � � � � � ? N � � � / 0 � � " � = � � � � � � � � � � Z Provision for Leave Encashment 28,241������ Total 1,302,653 1,162,438

5.

( ��� � � ZIn � )

T 6 � � [ � � � � � � � � � � L � ^ � � � � � � � � � � � � � $ % � � � � � � � * � � � = � � � � � � � � � � � � � � � � � � ! � �� � * � � � ! * � � � � �T 3 6 D T 6 C D 3 3�� � ���E E E 6 U 7�� � � 2 � ��T 3 6 D T 6 C D 3 D�� � �+ , 6��4 4 U 6 E 7�� � � 2 � � � � / 0 � 1 �� � / 0 � � � � & � �� � ? � � � � � � � � �� � � � �� � � � � � � � �� �� � � � A � _ �ô;htü� � � � � ! � � � � � � � ( � � � � / 0 � � " � � � � � � � � � � / 0 1

4. “� � � � � � � � �”� � � � � � � � 8 � � � � � � � � \ ] � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � . �

7. ����!���"#�����$�%&�������� ��'(��)�#����" / 7.a) Managing Director’s Remuneration

7 6 �9 � ? � � � �� � � � � � � �� � �� � � � � ! � � � � �8 � � � � � � � � � � �� � �= � � � " 2 � �� � � � � ! � � � � �2 � � G � �� * � � � � � �� � ? � ( � �� � � ( � � � � � � � � ! � � � � - � � 8 � � � � � � � � � � � � � � � � � � � � � 8 � � � � � � � � � � � / K 0 � � � � � � � � A � � 8 � � � � � � 2 � � G � � � � � � � � 8 � � � � � / K 0 � � � � ` � A � � � � � � � � � ! � � � � � � � � � 2 � � � � � � ! � � ! * � � � � � : � � � � � ( � � � � 0� � 2 � � �� � � � � � �� � � ! � �a3 4� ��“2 � � G � �� � � � � b $ % 8 �”�� � � �� � � � ) � � � �2 � � G � �� � � � � $ � % �� �= � � $ % � � � . � �= � � � � ( � � �� � / 0 O �/ 0 1

( ��� � � ZIn � )

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177

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8. In accordance with Accounting Standard 22 - “ Accountingfor Taxes on Income “issued by The Institute of CharteredAccountants of India , the Company has accounted fordeferred tax . The Company has significant amount ofdeferred tax assets arising out of provisions made on NPAand doubtful debts. However as a matter of prudence,deferred tax assets have been recognized to the extentof deferred tax liability and as such there is no impact ofthe same in these accounts. The component of deferredtax assets and liabilities are as follows :

� � � � � � . � T 3 6 D T 6 C D 3 D � � � � � � * � � Y ! * � � � � �/ � � # � � � / 0 � � " � c d . � � � = � A � � � � �/ T 3 6 D T 6 C D 3 3 �� �

Particulars As on 31.03.2010 (Charge ) / Credit � � * � � Y ! * � � � �for the year As on 31.03.2011

� � ? � � � e � ! � � � � � � � . � � � � ! * � � 8 � � � � � � � � � � � � � �

Deferred Tax Liability on account of depreciation 5,402,630 27,580 5,430,210

� � � � � � � � � � � � � & � � � � � � c d . � � � � � � � � = � � � � � � � � � � � � � � � . � � � � ! * � � 8 � � � � � � � � � Y ! � � � � � �

Deferred Tax Assets on account of provision on NPAand doubtful debts 5,402,630 27,580 5,430,210

� � ! * � � 8 � � � � � � � � � Y ! � � Z � � � � � � � � f � � � � � � � � � �

Deferred Tax Assets / Liabilities (Net) - - -

9. To the extent identified from the information availablefrom suppliers of goods and services, there are no macroand small enterprises being a supplier as defined underMicro, Small and Medium enterprises Development Act,2006.

10. There is no impairment loss in terms of the AccountingStandard ( AS 28 ) – “ Impairment of Assets” issued byThe Institute of Chartered Accountants of India.

11. Related Party disclosures as required in terms of Account-ing standard ( AS 18 ) – “ Related Party Disclosures”issued by the Institute of Chartered Accountants of Indiaare as under :

Holding Company Key Management Personnel

2010-11 2009-10 2010-11 2009-10

Y ! * � � � ( � � � � � � � � � � � � � ( � � Z �Interest on Fixed Deposit 6,180,841 5,617,941

= � � � � � � � � � ! � � � � � � � � � � � Z Management Contracts 314,791 235,546

! � � � � � = � � Y � � � � Z Receiving of Services 256,571 262,111

� � � � � � Y � � � � � � � � Z Remuneration 1,302,653 1,162,438

� � � � � � � � � � ( � � � � � Z �Term Deposit 50,000,000 50,000,000

9 � � � � ? � ( � � � � � Z Current Deposit 3,317,020 6,158,800

� � � � � � � �� Z Creditors 12,495 59,511

= � � � " 2 � � = � � � � � � � � � � � N � � � / 0 � g � G � 8 � � � � � � � � �

( In � )

E 6 A � � � � � � � � �! � � � � � � �� � 2 � � � � � �! � � ! * � � � � �: � � � � �( � � � � �� � 2 � � �� � � � � � �C C �“� � � �

� � � �� � �/ 0 � � " �� � 2 � �”�� �� � � " ! � � � �� � � � � � � �� � �� � ! * � � 8 � � � �� � �� � �� / 0 ! � � � �

� 2 � � � / 0 1 � � � � � � � � � � � � � � � � � � � � � � � � � ! � � � � � 8 � � � � � Y ! � � � � � � � � � � � = � � � � � � � � � � ! �

< � � � _ � � � � � � � � � � � M � � � � � � � � � ! * � � 8 � � � � � � � � � Y ! � � � � � � � / K 0 1 � � � * � � � � � � � � � � � � � � ? . � �

h � i 8 � � ! � � � � ! * � � 8 � � � � � � � � � � � � � � � � � � � � � ! � � � � � � � � � � / 0 � � � � ! * � � 8 � � � � � �

� � Y ! � � � � � � � � � � � � A � j � � � � � � � � � � � 8 � � � � � / 0 � � � � � ; ! � � = � � � � � ; ! � � � � 2 � � � � � �

� � � �� � ; � �= � A � � � � �� � / 0 O �� � � � � �/ 0 1 �� � ! * � � 8 � � � �� � �� � Y ! � � � � � � �� � � �� � � � � � � � � �

� � � � � � � � � . � � ; ! � � = � � � � � / 0 0 `

U 6 � � � � � �� � � �! � � � � � � � �� �� � � � ? N � � � � � � � �! � �< � � � � � � � �! � ? 9 � � � � �� �� � � " ! � � � �� � �

8�����A���������.���������;R� L���B�"��������������<k��������!�������������L

C D D 7 � � � � � � � 8 � � � � � � � � � A � � � # � � � � � � ; � � � � R � � � � � � � � B � " � < k � � � � � / 0 O � / K 0 1

3 D 6 A � � � � � � � � � ! � � � � � � � � � 2 � � � � � � ! � � ! * � � � � � : � � � � � ( � � � � 0 � � � 2 � � � � � � � � �

� � � ! � a C E � � “; � � � � � � � � � $ % � � � l � � � ! � $ H % ! �”� � � � � � " ! � � � � � � ; � � � � � ( � � �

/ 0 � � � � � � � / 0 � � / 0 1

3 3 6 A � � � � � � � � � ! � � � � � � � � � 2 � � � � � � ! � � ! * � � � � � : � � � � � ( � � � � 0 � � � 2 � � � � � � � � �

� � � ! � a3 E� �“! � � � � � � � � � � � � � � $ % I � = � � $ % � � � . �”� � � � � � " ! � � � � ! � � � � � � � � � � � � � � $ % I

= � � $ % � � � . � � � � � � � � � � � " ! � � � � / 0 1

/ 0 � g � G � 8 � � � � � � � � � a � ; � � � / 0 � � � � � � � � � K � � Z � Holding Company – Allahabad Bank

= � � � " 2 � � = � � � � � � � � � � � N � � � a � m � � � = � ! � � � � � � � � � � � � L � = � � � � � � � � � � � � � & � � � � � � � � ! � � ; � � � Key Management Personnels - Mr. Prasad Akolkar, Managing Director & CEO

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��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

The above related party information is disclosed to the extentsuch parties have been identified by the management on thebasis of information available. This is relied upon by the audi-tors.

12. In the opinion of the Management , current assets, loans& advances have a value on realization in the ordinarycourse of the Company’s business which is at least equalto the amount at which they are stated in the BalanceSheet.

13. As per the audit observation made in audit report of theyear 2007-08, separate depository account vide client ID- 10123882 with Allahabad Bank, Fort Branch Deposi-tory, had been duly opened in regard to the holding ofinvestments, such as Tata Motors – 3,408 equity shares,OMDC Ltd. – 6,600 equity shares and Winsome Yarns –78,000 equity shares.

14. Allahabad Bank Nominees Ltd. (presently called AllBankFinance Ltd.) was engaged in custodial services. TheCompany, in regular course of business, used to holdsecurities on behalf of Allahabad Bank and its clients.Allahabad Bank Nominees Ltd., as such, was acting asCustodian of these securities. Prima-facie, such securi-ties viz. OMDC, Tata Motors, Winsome Yarns etc. heldby AllBank Finance Ltd. appears to be in the nature ofcollaterals against loans granted by Allahabad Bank.Keeping in view this perspective, it is not considered pru-dent that AllBank Finance Ltd is treated as the absoluteowner of these securities. The Company has sought forlegal opinion including tax aspect, in this regard and shallact on that basis.

15. With regard to amount of Tax deducted at source (TDS),amounting to Rs. 2,11,94,220, efforts are being made toreconcile the entries with reference to income tax returnsfiled / finalized/ pending for the relevant assessmentyears. As soon as the reconciliation is completed, thecompany shall make appropriate provision as may becalled for.

16. Owing to dismissal of Company’s appeal regardingdemand to the tune of � 5,127,354/- of A.Y. 1992 – 93which was adjusted by Tax Authority from refund of A.Y.1993 – 94, the demand is accounted for during the year .

17 . The disclosures required under Accounting Standard 15“ Employee Benefits” notified in the Companies (Account-ing Standards) Rules 2006 , are given below :

Defined Contribution PlanEmployer’s Contribution to Provident Fund : � 289,692( Previous Year - � 206,225)

Defined Benefit Plan

The present value of obligation relating to gratuity and leaveis determined based on actuarial valuation using the ProjectedUnit Credit Method.a. Reconciliation of opening and closing balances of Defined

Benefit Obligation Gratuity

< � � � � " � @ � ! � � � � � � � � � � � � � � $ % I � � � � ! � ? 9 � � � � � < ! � � ! � � � � � � � � � � / 0 � � = � � $ % � � � � 8 � ; � � / 0

� ( � � � � � � � < � � � � � � � � ! � ? 9 � � � � � � � � � � � � � � � � � � = � � � � � � � � � : � � � � � � � A � � � � � � � � � � � � � � � � � �

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3 C 6 = � � � � � � � � �� � � � � � � �� � � L �� � � � � � � �� �! � � � � � � � � �� � � � � ! � � � � �� � � ��9 � � � � ? �� � Y ! � � � � � � L

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3 T 6 � � # � � � C D D 4 a D E � � � � � � 2 � � � � � � ) � � � � � � � � $ � % � � � � � � � � � 8 � � � � � � 2 � � � � � � ) � �� $ % � � � � . � � � � � �� �� � � " ! � � � �� � � � � & � � � �� � �/ 0 � g � G � 8 � �( � ! � �$ % � $ % � �� � � $ % ! � � a T L n D E; Y > � � $ % � �& � � � � L �� � � � � G � � ! � � �� � � 6 a 7 L 7 D D �; Y > � � $ % � �& � � � � �� � � � �� � � � � ! � � �� � � � � � � a 4 E L D D D � ; Y > � � $ % � � & � � � � L � � � ! � � � � � � � � � � � � ; � � � / 0 � � � � � � � � � K � � � � $ � %& � � 2 � � �� G � � � � � ( � $ % � � �� � � �� � � � � � � � � � �� � �� � o * � � �� G � � � � � ( � $ % � � �2 � � � � � �> � � � ; � $ %� � ; � G � � a 3 D 3 C T E E C �� �! � � * � �2 � � � � � �8 � � � � 1

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3 5 6 ^ � � � � �� � � �� � �8 � ; � �� � �� $ % � � � � �� � � � � � & � �� �! � � � � � � � �� � � �+ , 6 �C 3 3 U n C C D

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W X � � � � � � � � 8 � � � � � � � � � � � � � � � � � . � � � � � � � � ! � � � � A � � � � � � � ! � � � � � � � � � � � � � � � ( � � � �

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� � � � � � � � ; ! � � � � � � � � � � � � & � � � � = � � � � � � � � � � � � 8 � � 1

3 7 6 � � �� � � � � � � � . � �� � # � � �3 U U C a U T �� �+ , 6 �5 3 C 4 T 5 n �� � � � � � & � L �� ( � ! � �� �= � � � � � � � . � � : � � � � � � � � � � � � � . � � � � # � � � 3 U U T a U n � � � � � � � G � � � � � � ! � � � � � � � � ( � � �� � � � � � 8 � � � � � * � � L � � � � � � � � 8 � � � � ! � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 2 � � � � ( � � / 0 � ( � � � � � � � � � � . � � ; ! � � � � � � 8 � � � � � � / 0 ! � � � � � � � � � � � � � � � � � � # � � � � � � � � 2 � � � 8 � � � � � / 0 1

3 4 6 � � � � � � � �� � � 2 � � �� � � � � � � �� � � � � � � �C D D 7 �� � � �� � � � ! � ? � 9 � � � �� � 2 � � �� � � � � � �3 5

“� � � � 9 � � � � � � � � A �’� � � � � � � 8 � � � � � � � � � ) � � � � = � � $ % � � � � � � 9 � � � � � � � 8 � � � / K 0

��'(���*�+���"&�$%��������,����

A � � � � # � � �� � � � � � �� � � �� � � � 9 � � � � � � � � �� � �� � & � � � � � � �+ , 6 �C E U 7 U C �� � � � \ ] � � � �� � # � � �a �+ , 6

C D 7 C C 5 �

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[ � 9 � � ? � $ % � � � � � � � � � � & � � ! � � ! � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � ? � � � � = � � ( � > $ % G �

� � ? � � � $ % �R � G � $ % �� � - � � � � �� � �= � � � � 8 � �� � � � �/ " 0 � �� � � � � � � � � � �� � ? � � � � � �� �� � � � � � �� � �

� � � � � � � � � � � � � � � � � � ( � � � � � � / 0 1

� 6 � � � � � � A � � � # � � � � � � � A � � � � � � � � � � � � � � � * � � � � � � ; � � � � & � # � � � � � ! � � � � � � � � �

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179

��������������������� ���������������� ��������������������������Schedules Forming Part of the Accounts AllBank Finance Ltd.

2010-11

� � # � � � � � = � � � � A � � � � � � � � � � A � � � # � � � � � � � A � � � � � � � � � � � ZDefined Benefit obligation at beginning of the year 738,259

9 � � � � ? � ! � � � � � � � � 8 � � � �/Current Service Cost 118,061

� � � � ( � � � � � 8 � � � �/Interest Cost 62,843

� � � � � � � � � � � / 0 � � � � Z � � � � A � � �/Actuarial Losses / ( Gain ) (19,246)

� � � � � � � � � 8 � � � � � � A � �/Benefits Paid (371,365)

� � # � � � � � � � � � � � � � � � � � � A � � � # � � � � � � � A � � � � � � � � � � � �/ Defined Benefit obligation at year end 528,552

b. Reconciliation of Opening and closing balances of fairvalue of plan assets

2010-11

� � # � � � � � = � � � � A � � � � � � � � � � � � � ( � � � � � � Y ! � � � � � � � � � � < � 9 � � � � � � ? � � � �/ Fair value of Plan Assets at the beginning of the year� � � � � � � ( � � � � � � Y ! � � � � � � � � � � � � � � � ) � � � � = � � � � � � � A � �/ Expected return on plan Assets� � � � � � � � � � � � � � A � Z � / 0 � � � � �/Actuarial Gain / (Losses)� � � � 9 � � � � � � � � � � & � � � � � � �/ Contributions by Employer 371,365� � � � � � � � � 8 � � � � � � A � �/ Benefits Paid (371,365)� � # � � � � � � � � � � � � � � � � � � � � � ( � � � � � � Y ! � � � � � � � � � � < � 9 � � � � � � ? � � � � �/ Fair value of Plan Assets at year end

c. Reconciliation of fair value of assets and obligations

31st March,2011

� � � � � � � ( � � � � � � Y ! � � � � � � � � � � < � 9 � � � � � � ? � � � ZFair value of Plan Assets� � � � � � � � � � � � � � � � � � � � � � � � � � ? � � � �/Present value of obligation 528,552� � " � � � � � � � M � � � � � � � � A � j � � � � � � � � & � �/Amount recognized in Balance Sheet 528,552

d. Expenses recognised during the year

2010-11

9 � � � � ? � ! � � � � � � � � 8 � � � �/ Current Service Cost 118,061

� � � � ( � � � � � 8 � � � �/Interest Cost 62,843

� � � � � � � ( � � � � � � Y ! � � � � � � � � � � � � � � � ) � � � � = � � � � � � � A � �/Expected return on Plan Assets

� � � � � � � � � � � � � � � A � � Z / 0 � � � � �/Actuarial (gain) / loss (19,246)

� � � A � a / 0 � � � � � 2 � � � � � � � � � � � A � j � � � � � � � � � � �/Expenses Recognized in Profit and Loss Accounte. Actuarial assumptions

Mortality Table : LIC (1994 – 1996 ) Ultimate

! � � � � � � � � � � # � �/Year ended 31st March,2011

A � " � � � ; � � � � � � � = � � � � � � � # � � �/Discount rate ( per annum) 8.25%

� � � � � � � � � o � - � � � = � � � � � � � # � � �/ Salary Escalation ( per annum ) 7.00%

18. Previous year’s figures have been rearranged / regroupedwherever necessary, to make those comparable with thecorresponding figures for the current year.

Signatories to the Schedules A to Q

! � � � � � � � � * � � � � � / 0 � � � � � � � � � � � $ � % � � � : � � � �� o � � �G � �� � G � �� � � ! �! � � � � � � � � � 2 � � � � �Vide our Report of even dateFor De & BoseChartered Accountants ! � " V � � � �� �

Subrata De� � � $ % � � � �Partner

= � ! � � � � � � � � � � � � / Prasad Akolkar

Œck"� � � � � � & � � � � � � � � ! � � ; � � � % �/ M D & CEO

( � 6 � � � 6 � � ? � � � � / J. P. Dua

� � � � ) � / Chairman

� � � 6 � � 6 � 8 � " � � � � �/ P. K. Gupta

� � � � � & � � �/ Director

� � A � ( � � � � �vtrNlu�/ Abhijit Pashine

fUkvle mraJ / Company Secretary

ze. mhfUth�/ D. Sarkar

� � � � � & � � �/ Director

2 � 6 � � � � � � � � � ( � � � � � � Y ! � � � � � � � � � < � 9 � � � � � � ? � � � � � � � * � � � � � � ; � � � � & � # � � � �! � � � � � � � � �

8 � 6 � � � � Y ! � � � � � � � � � � � � � � � � � � � � � � � < � 9 � � � � � � ? � � � � � � � ! � � � � � � � � �

B � 6 � � � � # � � � � � � � � � � � � � � � A � j � � � � � � � � � �

P Q � � � � � � � � � � � � � � � � ? � � � � � � " � � � � �� � � $ q % � � � $ % � � $ % � � � � � ` � � � � � � ; � ! � � � � � 3 U U n a 3 U U 7 � � � � � � � � �

3 n 6 ( � / 0 � f �� / 0 O �� � � � & � � � �/ 0 �� � / 0 � f �� � � \ ] � � �� � # � � �� �� � � � � � � � �� � �� � " � � ! � � � � ? � / 0 � � Z� � " � � � � � � � � Y ! * � � � �� � � � � �8 � � � � �/ 0 �� ( � ! � ! � �; � / � 0 �9 � � � � ? �� � # � � �� �! � p � & � � �� � � � � � � �� � ! � � * � � � � " � � � � � � � � � � � � � � � � � ( � � � ! � � 1

� � � � � � � � � � � � � � � � � � � � � � � � ������������“-’�����“����’�����./�+��0�'(��+��1

( ��� � � ZIn � )

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180

iÉÖ±ÉxÉ{ÉjÉ ºÉÉ®ú B´ÉÆ EÆò{ÉxÉÒ EòÒ ºÉɨÉÉxªÉ ´ªÉ´ÉºÉÉªÉ °ü{É®äúJÉÉBALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS PROFILE

EÆò{ÉxÉÒ EòÉ xÉÉ¨É / Name of the Company : +Éì±É¤ÉéEò ¡òÉ<xÉäxºÉ ʱÉʨÉ]äõb÷ / ALLBANK FINANCE LTDI. {ÉÆVÉÒEò®úhÉ ¤ªÉÉä®úÉ / Registration Details

{ÉÆVÉÒEò®úhÉ ºÉÆ. / Registration No. : U67120WB1951GOI020023 ®úÉVªÉEÚò]õ / State Code : 21

iÉÖ±ÉxÉ{ÉjÉÊiÉÊlÉ / Balance Sheet Date : 31.03.2011

II. ´É¹ÉÇ Eäò nùÉè®úÉxÉ +ʦɴÉÞrù {ÉÚÆVÉÒ (¯û. ½þVÉÉ®ú ¨Éå) / Capital Raised during the year (Amount ` in Thousand){ÉΤ±ÉEò <¶ªÉÚ / Public Issue : ¶ÉÚxªÉ / Nil ®úÉ<]õ <¶ªÉÚ / Right Issue : ¶ÉÚxªÉ / Nil

¤ÉÉäxÉºÉ ¶ÉäªÉ®ú / Bonus Share : ¶ÉÚxªÉ / Nil |ÉÉ<´Éä]õ +ɤÉÆ]õxÉ / Private Placement : ¶ÉÚxªÉ / Nil

III. úÊxÉÊvɪÉÉå Eäò ºÉÆOɽþhÉ B´ÉÆ Ê´ÉÊxɪÉÉäVÉxÉ EòÒ ÎºlÉÊiÉ (¯û. ½þVÉÉ®ú ¨Éå)Position of Mobilisation and Deployment of Funds (Amount ` in Thousand)EÖò±É näùªÉiÉÉBÆ / Total Liabilities : 540,984 EÖò±É +ÉκiɪÉÉÆ / Total Assets : 540,984

ÊxÉÊvɪÉÉå EòÉ »ÉÉäiÉ / Sources of Funds|ÉnùkÉ {ÉÚÆVÉÒ / Paid –Up Capital : 150,000 +É®úÊIÉÊiɪÉÉÆ B´ÉÆ +ÊvɶÉä¹É / Reserves & Surplus : 323,635

|ÉÊiɦÉÚiÉ @ñhÉ / Secured Loans : ¶ÉÚxªÉ / NIL +|ÉÊiɦÉÚiÉ @ñhÉ / Unsecured Loans : ¶ÉÚxªÉ / Nil

ÊxÉÊvɪÉÉå EòÉ |ɪÉÉäMÉ / Application of Funds :

ÊxÉ´É±É +SÉ±É +ÉκiɪÉÉÆ / Net Fixed Assets : 17,598 ÊxÉ´Éä¶É / Investments : 348,787

ÊxÉ´É±É SÉɱÉÚ +ÉκiɪÉÉÆ / Net Current Assets : 107,250 Ê´ÉÊ´ÉvÉ ´ªÉªÉ / Misc. Expenditure : ¶ÉÚxªÉ / Nil

ºÉÆSɪÉÒ ½þÉÊxɪÉÉÆ / Accumulated Losses : ¶ÉÚxªÉ / Nil

IV. EÆò{ÉxÉÒ EòÉ EòɪÉÇ Êxɹ{ÉÉnùxÉ (¯û. ½þVÉÉ®ú ¨Éå) / Performance of the Company (Amount ` in Thousand)]õxÉÇ +Éä É®ú / Turn Over : 57,991 EÖò±É ´ªÉªÉ / Total Expenditure : 14,440

Eò®ú ºÉä {ÉÚ ÉÇ ±ÉɦÉ/(½þÉÊxÉ)Profit/(Loss) Before Tax : (+) 43,551Eò®ú Eäò ¤ÉÉnù ±ÉɦÉ/(½þÉÊxÉ)

Profit/(Loss) After Tax : (+) 27,951 ±ÉɦÉÉÆ¶É / Dividend Rate % : ¶ÉÚxªÉ / Nil

|ÉÊiÉ ¶ÉäªÉ®ú +ÉªÉ (¯û. ¨Éå)Earning Per Share (in Rs) 18.63

V. EÆò{ÉxÉÒ Eäò iÉÒxÉ ¨ÉÖJªÉ =i{ÉÉnùÉå/ºÉä ÉÉ+Éå Eäò ºÉɨÉÉxªÉ xÉÉ¨É (¨ÉÉèÊpùEò ¶É¤nù Eäò +xÉÖºÉÉ®ú)Generic Name of Three Principal Products/Services of Company (as per monetary terms).fkUvle muce bü ¶uKe-I baouàx cîfUh fuU Áv bü vksef]U; ni /

The Company is registered with the SEBI as a Category I Merchant Banker.

ºlÉÉxÉ / Place : EòÉä±ÉEòÉiÉÉ / KolkataÊnùxÉÉÆEò / Dated : 23.04.2011

¤ÉÉäbÇ÷ Eäò ʱÉB B´ÉÆ EòÒ +Éä®ú ºÉäFor and on behalf of the Board

|ɺÉÉnù +EòÉä±ÉEò®ú / Prasad Akolkar

Œck" ÊxÉnäù¶ÉEò B´ÉÆ ºÉÒ<Ç+Éäõ / M D & CEO

VÉä.{ÉÒ. nÚù+É / J. P. Dua+vªÉIÉ / Chairman

{ÉÒ. Eäò. MÉÖ{iÉÉ / P. K. GuptaÊxÉnäù¶ÉEò / Director

+ʦÉVÉÒiÉ vtrNlu / Abhijit Pashine

fUkvle mraJ / Company Secretary

ze. mhfUth / D. SarkarÊxÉnäù¶ÉEò / Director

EÆò{ÉxÉÒ +ÊvÉÊxɪɨÉ, 1956 EòÒ +xÉÖºÉÚSÉÒ VI Eäò ¦ÉÉMÉ IV Eäò +xÉÖºÉÉ®ú ºÉÚSÉxÉÉInformation Pursuant to Part IV of Schedule VI of Companies Act, 1956.

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181

AUDITORS’ REPORT

TO THE MEMBERS

AllBank Finance Limited.

1. We have audited the attached Balance Sheet of AllBankFinance Limited as at 31st March , 2011 , the relatedProfit and Loss Account and Cash Flow Statement for theyear ended on that date annexed thereto, which we havesigned under reference to this report. These financialstatements are the responsibility of the Company’smanagement. Our responsibility is to express an opinionon these financial statements based on our audit.

2. We conducted our audit in accordance with auditingstandards generally accepted in India. Those standardsrequire that we plan and perform the audit to obtainreasonable assurance about whether the financialstatements are free of material misstatement. An auditincludes examining, on a test basis, evidence supportingthe amounts and disclosures in the financial statements.An audit also includes assessing the accounting principlesused and significant estimates made by management, aswell as evaluating the overall financial statementpresentation. We believe that our audit provides areasonable basis for our opinion.

3. As required by the Companies (Auditors’ Report) Order,2003, as amended by the Companies ( Auditor’s Report )Order,2004 , issued by the Central Government of Indiain terms of sub-section (4A) of Section 227 of theCompanies Act, 1956 and on the basis of such checks ofthe books and records of the Company as we consideredappropriate and according to the information andexplanations given to us, we enclose in the Annexure astatement on the matters specified in paragraphs 4 and 5of the said order.

4. The Company has got renewed certificate of registrationas a Merchant Banker from Securities and ExchangeBoard of India effective from 25.07.2008 for three yearssubject to renewal against payment of required fees.Earlier to this, the Company was registered with ReserveBank of India as Non Banking Finance Company upto11.05.2005. Though the activities under Non BankingFinance Companies had been discontinued, but someaccounts of past activities are still continuing.

5. As required by “ Non Banking Financial CompaniesAuditors Report ( Reserve Bank ) Directions, 2000”, issuedby the Reserve Bank of India , no report is made as theCompany became Merchant Banking Company with effectfrom 25.07.2005.

6. Further to our comments in paragraphs 3 to 5 above andrefer to Schedule ‘Q’ of Notes on Accounts vide para 14and 15 , we report that :

a) We have obtained all the information and explanationswhich to the best of our knowledge and belief werenecessary for the purpose of our audit;

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182

b) In our opinion, proper books of account as requiredby law have been kept by the Company so far asappears from our examination of those books;

c) The Balance Sheet, Profit and Loss Account and CashFlow Statement dealt with by this report are inagreement with the books of account;

d) In our opinion, the Balance Sheet , the Profit and LossAccount and the Cash Flow Statement dealt with bythese report comply with the accounting standardsreferred to in sub-section (3C) of section 211 of theCompanies Act, 1956 ;

e) On the basis of written representations received fromthe Directors and taken on record by the Board ofDirectors, we report that none of the directors isdisqualified as on March 31, 2011 from beingappointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956;

f) In our opinion and to the best of our information andaccording to the explanations given to us, the saidfinancial statements and read together with theaccounting policies and other notes thereon give theinformation required by the Companies Act, 1956, inthe manner so required and give a true and fair viewin conformity with the accounting principles generallyaccepted in India :

i) in the case of the Balance sheet, of the state ofaffairs of the Company as at March 31, 2011;

ii) in the case of Profit and Loss Account, of the profitfor the year ended on that date ; and ,

iii) in the case of the Cash Flow Statement, of thecash flows for the year ended on that date.

Date: 23rdApril,2011

Place : Kolkata

Subrata DePartner.

Membership No. 54962For & on behalf of

DE & BOSEChartered Accountants

Firm Registration No. 302175E

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i) �������Y��������������������5 ������������������!�����#���#�������;

ii) ���'�Y����������$������������������5 � ��#������#$����������������%�&����������!�����#��������'�;������

iii) ��� ����������������������� ���������������������������� ����������

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Annexure referred to in paragraph 3 ofour report of even date

Re: ALLBank Finance Limited

1. a. The Company has maintained proper records showingfull particulars including quantitative details andsituations of its fixed assets.

b. It has been explained that all the assets have not beenphysically verified by the management during the year,but there is a regular program of verification which ,in our opinion, is reasonable having regard to the sizeof the Company and nature of its assets. No materialdiscrepancies between the book records and thephysical inventory have been noticed.

c. In our opinion and according to the information andexplanations given to us, any substantial part of thefixed assets has not been disposed of by the Companyduring the year.

2. The nature of business of the Company does not warrantholding of inventory.

3. a. The Company has not granted or taken any loans ,secured or unsecured, to / from companies, firms orother parties covered in the register maintained underSection 301 of the Companies Act, 1956 .

b. In cases where the Company has made advancesunder Hire Purchase , Leases Agreements or InterCorporate Deposit, the rate of interest and other termsand conditions are, prima facie, not prejudicial to theinterests of the Company.

c. Payments of the principal amount and interest arebeing recovered by the Company. In cases of default,adequate provisions have been made by theCompany, in accordance with norms laid down by theReserve Bank of India, in the matter of Non PerformingAssets.

d. In cases where the overdue amount is more thanRupees one lakh, reasonable steps have been takenby the Company for the recovery of the principal andinterest.

4. In our opinion and according to the information andexplanations given to us, there is an adequate internalcontrol system commensurate with the size of theCompany and the nature of its business. Further, on thebasis of our examination of the books and the records ofthe Company and according to the information andexplanations given to us, we have neither come acrossnor have been informed of any continuing failure to correctmajor weaknesses in the aforesaid internal controlsystem.

5. According to the information and explanations given tous, the Company has not entered into transactions whichrequire to be recorded in a register in pursuance of Section301 of the Companies Act.

6. The Company has not accepted any deposit from thepublic under Sections 58A, 58AA or any other relevantprovision of the Companies Act,1956 and the rules framedthereunder.

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184

7. The Company has an internal audit system by an outsidefirm of Chartered Accountants which is in our opinioncommensurate with its size and nature of business.

8. The Central Government has not prescribed maintenanceof cost records and accounts under Section 209(1)(d) ofthe Companies Act, 1956, to the Company.

9. a. According to the information and explanations givento us and the records of the Company examined byus , in our opinion, the Company is regular in depositingthe undisputed statutory dues including provident fund,income tax, service tax, cess and other materialstatutory dues as applicable with the appropriateauthorities.

b. According to the information and explanations givento us and the records of the Company examined byus, the details of statutory dues as on 31st March, 2011,not deposited on account of dispute, are as under :

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Y� ����[% ������� �� ����� ��2����6 �ABC ��� 2�� =DA����R� ������0)� ����� ��� �0� �����(*) ��� ��& ��&�� !��' ��2)���� � !������ !+,

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�&� !�� $%� 09) �"�� �+�� �-./������ �� !���� 3%�� 8������ 0� ����� ��� ��4��&� ��� ��'��� @� ��) =D�D ���������� $�%� �����2�� #��� �� ������ �����'��� +!8� ���$% ��� ����� 8� � !5 ���� 0�,

�����2 �� �� $%�� ���?� �� ��:; ���� ��� �� ���$% ���#� +! ���? �� �& ���Name of the Statue Nature of the Dues Forum where the dispute is pending Amount ( � in lacs )

������ ��������2����6 �AC� ��2)��� �-) =DD@\DV �9)�./����./�� ������� #��Income Tax Income Tax I.T.A.T. Kolkata Bench 627.62Act, 1961 A.Y. 2003-04������ ��������2����6 �AC� ��2)��� �-) =DDV\DB �9)�./����./�� ������� #��Income Tax Income Tax I.T.A.T. Kolkata Bench 70.52Act, 1961 A.Y. 2004-05������ �� ������2����6 �AC� ��2)��� �-) =DDB\DC ������ ��'W� �����Income Tax Income Tax Commissioner of Income 23.44Act, 1961 A.Y. 2005-06 Tax ( Appeals )������ �������2����6 �AC� ��2)��� �-) =DDC\DZ ������ ��'W� �����Income Tax Income Tax Commissioner of Income 15.32Act, 1961 A.Y. 2006-07 Tax ( Appeals )������ �������2����6 �AC� ��2)��� �-) =DDZ\DY ������ ��'W� �����Income Tax Income Tax Commissioner of Income 55.18Act, 1961 A.Y. 2007-08 Tax ( Appeals )������ �������2����6 �AC� ��2)��� �-) =DDY\DA ������ ��'W� �����Income Tax Income Tax Commissioner of Income 8.07Act, 1961 A.Y. 2008-09 Tax ( Appeals )

�D� ����� �� @� ��) =D�D ��� ���9) ����� R./ � !5 +! �+�� K����� ��� ��� ��] �-) �� K��� ����� "�) ��� �-) �� ���9))���$% R./ � !5 KXFF� +!

��� !���� 3%�� ����� ��� ��4��&�� ��� 8�� �� !�� $%� 09) 8��������� �-./������ ��� ��'��6� ��]�� ������6 #Q��� � �(*#����2����� ��� � ����� �� ���9) #��� � !5 +!,

10 The Company has no accumulated losses as at 31stMarch,2011 and it has not incurred any cash losses inthe financial year ended on that date and in theimmediately preceding financial year.

11 According to the records of the Company examined byus and the information and explanation given to us, theCompany has no dues towards financial institutions,banks and debenture holders.

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��� b ��������$%���� : =@�DV�=D��

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�$%��� ��� BVAC=�>��� (*� ��(* #��������������� ��

VUbo vksefUhK mkÏgt� 302175E

Place : KolkataDate: 23.04.2011

Subrata DePartner.

Membership No. 54962 For & on behalf of

DE & BOSE Chartered Accountants

Firm Registration No. 302175E

12 The Company has maintained adequate records anddocuments where advances have been made under hirepurchase and leases agreements.

13 The provisions of any special statue applicable to chitfund or a nidhi / mutual benefit fund / societies are notapplicable to the Company.

14 The Company is not dealing or trading in shares,securities, debentures and other investments. TheCompany has acquired shares on account of underwritingshare issue and also in settlement of a claim underdirections of The Special Court, Mumbai in the previousyears and has also acquired debentures and bonds aslong term investments. The Company has maintainedproper records of such transactions and the shares,debentures and bonds are held by the Company in itsown name.

15 According to the information and explanations given tous, the Company has not given any guarantee for loanstaken by others from banks or financial institutions andtherefore the provisions of Clause 4 (xv ) of the Order arenot applicable to the Company.

16 As per records, the Company has not taken any termloan during the year covered under audit and thereforethe provisions of Clause 4 (xvi ) of the Order are notapplicable to the Company.

17 Based on the information and explanations given to usand on an overall examination of the balance sheet ofthe company, in our opinion, there are no funds raised ona short term basis which have been used for long terminvestment.

18 The Company has not made any preferential allotmentof shares to parties and companies covered in the registermaintained under Section 301 of the Companies Act, 1956during the year.

19 The Company has not issued any debentures.Accordingly, the provisions of Clause 4 (xix ) of the Orderare not applicable to the Company.

20 The company has not raised any money by public issueduring the year.

21 During the course of our examination of books andrecords of the Company, carried out in accordance withgenerally accepted auditing practices in India andaccording to the information and explanations given tous, we have neither come across any incidence of fraudon or by the Company, noticed or reported during theyear, nor have we been informed of any such case by themanagement.

Page 186: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

186

�������������� ��������/NAME IN BLOCK LETTERS ������������������������������� ����� ���� ������!���

��������Member /�"��#�����Proxy / FOLIO/CLIENT ID NO. No. of Shares

Œtr"f]U; Œr;rlr" Authorised Representative

������������ � ��� ���� ������������������������������������Signatue of Shareholders/Proxy/Representative present

������������ENTRY PASS

�������������� ��������/NAME IN BLOCK LETTERS ������������������������������� ����� ���� ������!���

��$%����Member /�"��#�����Proxy / FOLIO/CLIENT ID NO. No. of Shares

Œtr"f]U; Œr;rlr" Authorised Representative

&�'() ��*+��������"�,����� ������-������ �.�� � ����"��#/��������"��0�����.�������������1 ���.��*'+�� ��,�������2��/�3��0����4� ��5���*+�5�"�,�������4�� �����,��.�,�0��*+�0���� �

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�!�����:���*+-6���� ��7���"�,����;����$%���,���� ������<���8�����0������8�����0��������9��=:�� ����.�����*+��8��6�� �����Ce�*+���0�����;�&�'() ��*+��������"�,����

������-�2��/�3��0����4� �� ��� ������$>%�� ���"��0��9�� �����*+?� ���9��-8��6

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Shareholders/Proxy/Representatives are requested to produce this Attendance-slip-cum Entry Pass signed, foradmission to meeting hall. The Entry pass portion will be handed back to the shareholders/Proxy/Representative,who should retain it till the conclusion of the meeting. The admission may, however, be subject to further verifications/checks as may be deemed necessary. Under no circumstances, will any duplicate Attendance –Slip-cum Entry Passbe issued at the entrance to the meeting hall.Note : No gifts/gift coupons will be distributed at the meeting .

Please bring your copy of the enclosed Annual Report.

Allahabad BankHead Office: 2, N. S. RoadKolkata 700 001

ATTENDANCE SLIP-CUM-ENTRY PASS FORNINETH ANNUAL GENERAL MEETINGDate : 10th June, 2011Place : Eastern Zonal Cultural Centre

Bharatiyam Cultural MultiplexIB-201, Sector III, Salt Lake CityKolkata 700 106

���� ������������������������������������������������ ��!������"#��������$%&&�&&'

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2��/�3��0����:�D ATTENDANCE SLIP

>��(���������*������*���������������? (To be surrendered at the time of entry)

� �

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Page 188: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

188

CERTIFICATE PURSUANT TO CLAUSE 49VOF THE LISTING AGREEMENT

ToThe Board of DirectorsAllahabad Bank

This is to certify that

(a) We have reviewed financial statements and the cash flow statement for the year 2010-2011 and that to the best of ourknowledge and belief:

(i) these statements do not contain any materially untrue statement or omit any material fact or contain statementsthat might be misleading.

(ii) these statements together present a true and fair view of the Bank’s affairs and are in compliance with existingaccounting 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 arefraudulent, 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 haveevaluated the effectiveness of the internal control systems of the Bank pertaining to the financial reporting and wehave disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internalcontrols of which we are aware and the steps we have taken to rectify the deficiencies.

(d) We have indicated to the auditors and the Audit Committee

(i) that no significant changes in internal control over financial reporting has been made during the year 2010-11,

(ii) that no significant changes 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 manage-ment or an employee having a significant role in the Bank’s internal control system over financial reporting.

(A. B. Bhattacharjee)General Manager ( F & A) & CFO

( J. P. Dua) Chairman & Managing Director

Place: KolkataDate: 02.05.2011

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190

ALLAHABAD BANKH.O: 2, Netaji Subhas Road, Kolkata-700 001

Form “B” Form of Proxy

( To be filled in and signed by the shareholder member)

Regd. Folio No.. ALB————————————————

( If not demateralised)

DPID No. —————————————————————Client ID No.————————————————————

( If dematerialized)

I/We ————————————————————————resident of———————————————————————— inthe 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 Nineth Annual GeneralMeeting of the Shareholders of the Allahabad Bank to be held on Friday, the 10th June 2011 at 10.30 a.m. PurbashreeAuditorium 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 ————————————— 2011

………………………Signature of the Proxy

Signature of the First/Sole Holder

NameAddress

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 attorney duly authorized in writing.(b) In case a joint holder, shall be signed by the shareholder whose names appeared first 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 duly authorised in this behalf 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 assurance 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 Head

Office, Allahabad Bank, not later than FOUR days before the date of Nineth Annual General Meeting, i.e. on or before theclose of business hours on Monday, 6th June, 2011.

4. In case of relevant power of attorney is already registered with Allahabad Bank or its Share Transfer Agent , the registration numberof power of attorney and date of such registration may be mentioned.

5. No proxy shall be valid unless it is duly stamped and signed.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”.

Please affixOne Rupee

RevenueStamp

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191

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Page 192: 001-002, List of Direcotr - Bombay Stock Exchange for achieving a high growth. Exports for the year ending March, 2011 touched US$ 245.9 billion registering a growth of 37.5%. There

192

FORM FOR ECS MANDATE/BANK ACCOUNT PARTICULARS(FOR PHYSICIAL HOLDERS)

I / We ......................................................................................................... do hereby authorize Allahabad Bank to credit mydividend 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 (only CBS Branch) : ________________________________

Address ( for mandate only) : ________________________________

C 9 Digit Code No. of the Bank & BranchAppearing on the MICR Cheque : ________________________________

D. Account Type ( Saving/Current) : ________________________________

E. Account No. as appearing in the Cheque Book : ________________________________

F. STD Code & Telephone 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 forreasons of incomplete or incorrect information, I would not hold Allahabad Bank responsible.

Mail to

M/S MCS LimitedUnit: Allahabad Bank77/2A, Hazra RoadKolkata-700 029

Please attach a photocopy of a ‘ Cheque Leaf’ or a blank cancelled cheque issued by your bank relating to your above accountfor 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 Participantdirectly, in the format prescribed by the DP.

* The Bank Branch should be under CBS for credit of Dividend through ECS

Signature of the shareholder