Financial Accounts Finalproject

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J.W.SADHUBELLA GIRLS COLLEGE ULHASNAGAR 421001. NAME : KHATRI KIRAN ASHOK CLASS : M.COM-1 ROLL NO : 18 SUBJECT : FINANCIAL ACCOUNTING TOPIC : BANKING REGULATION & ANNUAL REPORT OF AXIS BANK SEMESTER : 1 ST GUIDANCE : TARUNA MAKHIJA ACADEMIC YEAR : 2015-2016 1

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Transcript of Financial Accounts Finalproject

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J.W.SADHUBELLA GIRLS COLLEGE

ULHASNAGAR 421001.

NAME : KHATRI KIRAN ASHOK

CLASS : M.COM-1

ROLL NO : 18

SUBJECT : FINANCIAL ACCOUNTING

TOPIC : BANKING REGULATION &

ANNUAL REPORT OF

AXIS BANK

SEMESTER : 1ST

GUIDANCE : TARUNA MAKHIJA

ACADEMIC YEAR : 2015-2016

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Declaration

I, kiran khatri the student of J.W.SADHUBELLA GIRLS COLLEGE M.COM Part 1,hereby declare that I have completed this “BANKING COMPANY” in the academic

year 2015-2016. The information submitted is true and original to best of my knowledge.

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CERTIFICATE

I, PROF, TARUNA M hereby certify that “KIRAN KHATRI “ of M.COM PART 1 Master of Commerce of J.W.SADHUBELLA GIRLS COLLEGE Ulhasnagar 421001 has completed the project entitled “BANKING COMPANY “ in the academic year 2015-2016 under my guidance.

The information submitted is true and original to the best of my knowledge.

PROF.TARUNA MAKHIJA

(Signature)

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J.W. SADHUBELLA GIRLS COLLEGE

UNIVERSITY OF MUMBAI

CERTIFICATE

This is to certify that “kiran khatri” Master of commerce (semester 1) for the academic year 2015-2016 has completed the project on ” BANKING COMPANY“ under the guidance of PROF.TARUNA M.

Prof. TARUNA MAKHIJAProf. Kiran MENGHANI

(Project Guide) (Co-ordinator)

External examiner Prof.R.H. Suryarao

(Principal)

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TOPIC NAME:-

AXIS BANK

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METHODOLOGY

This project is a mixture of theoretical as well as practical knowledge.

Also it contains ideas and information imparted by the project guide.

SECONDARY DATA :-

The secondary data required for the project was collected from various kinds of websites. The names of which are mentioned in bibliography.

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OBJECTIVES OF THE PROJECT

To study about the banking company. To increase my knowledge on the innovative ideas made by banking company. To understand the future growth of bank’s profit. To study about the different situations and settlements. To know about the solution providing techniques.

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INDEX

SR. NO.

TOPICS

1) Introduction OF BANKING COMPANY

2) History Of Banking Company

3) Functions Of Banking Company

4) Provisions Of Banking Regulation Act,1949

5) Objectives Of Bank

6) About Axis Bank

7) Balance Sheet

8) Profit And Loss Account

9) Schedules

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Introduction of Banking Companies

Banking companies are governed by the Banking Regulation Act, 1949. Section 5 of the

Act defines banking as “the accepting, for the purpose of lending or investment, of

deposits of money from the public repayable on demand or otherwise and withdraw able

by cheque, draft, order or otherwise”. Therefore, any company which engages itself in the

manufacture of goods or carries on any trade and accepts deposits of money from the

public for financing its business activities will not be treated as doing business of

banking. Section 2 of the Act provides that provisions of Companies Act, 1956 in the

absence of special provisions in that regard in Banking Companies Act, will apply to

banks also.

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History of Banking Companies

The history of banking refers to the development of banks and banking throughout history, with banking defined by contempory sources as an organization which provides facilities for acceptance of deposits, and provision of loans.

The history begins with the first prototype banks of merchants of the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire lenders based in temples made loans and added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient china and India also shows evidence of money lending activity.

Many histories position the crucial historical development of banking system to medieval and renaissance Italy and particularly the affluent cities of Florence, Venice and Genoa. The bardi and Peruzzi, families dominated banking in 14 th century Florence, establishing branches in many other parts of Europe. Perhaps the most famous Italian bank was the Medici bank, established by Giovanni Medici in 1397. The oldest di Siena headquartered in Siena, Italy, which has been operating continuously since 1472.

The development of banking spread from northern Italy throughout the Holy Roman Empire, and in the 15th and 16th century to northern Europe. This was followed by a number of important innovations that took place in Amsterdam during the Dutch republic in the 17th century, and in London century, developments in 18 th century. During the 20th

century, developments in telecommunications and computing caused major changes to bank’s operations and let banks dramatically increase in size and geographic spread. The financial crisis of 2007-2008 caused many bank failures, including some of the world’s largest banks, and provoked much debate about bank regulation.

Functions of Banks - Important Banking Functions and Services

The functions of banks are briefly highlighted in following Diagram or Chart.

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These functions of banks are explained in following paragraphs of this article.

A. Primary Functions of Banks The primary functions of a bank are also known as banking functions. They are the main functions of a bank. These primary functions of banks are explained below.

1. Accepting DepositsThe bank collects deposits from the public. These deposits can be of different types, such as:-

a. Saving Depositsb. Fixed Depositsc. Current Depositsd. Recurring Deposits

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a. Saving DepositsThis type of deposits encourages saving habit among the public. The rate of interest is low. At present it is about 4% p.a. Withdrawals of deposits are allowed subject to certain restrictions. This account is suitable to salary and wage earners. This account can be opened in single name or in joint names.b. Fixed DepositsLump sum amount is deposited at one time for a specific period. Higher rate of interest is paid, which varies with the period of deposit. Withdrawals are not allowed before the expiry of the period. Those who have surplus funds go for fixed deposit.c. Current DepositsThis type of account is operated by businessmen. Withdrawals are freely allowed. No interest is paid. In fact, there are service charges. The account holders can get the benefit of overdraft facility.d. Recurring DepositsThis type of account is operated by salaried persons and petty traders. A certain sum of money is periodically deposited into the bank. Withdrawals are permitted only after the expiry of certain period. A higher rate of interest is paid.

2. Granting of Loans and AdvancesThe bank advances loans to the business community and other members of the public. The rate charged is higher than what it pays on deposits. The difference in the interest rates (lending rate and the deposit rate) is its profit.The types of bank loans and advances are :-

a. Overdraftb. Cash Creditsc. Loansd. Discounting of Bill of Exchange

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a. OverdraftThese types of advances are given to current account holders. No separate account is maintained. All entries are made in the current account. A certain amount is sanctioned as overdrafts which can be withdrawn within a certain period of time say three months or so. Interest is charged on actual amount withdrawn. An overdraft facility is granted against a collateral security. It is sanctioned to businessman and firms.

b. Cash CreditsThe client is allowed cash credit upto a specific limit fixed in advance. It can be given to current account holders as well as to others who do not have an account with bank. Separate cash credit account is maintained. Interest is charged on the amount withdrawn in excess of limit. The cash credit is given against the security of tangible assets and / or guarantees. The advance is given for a longer period and a larger amount of loan is sanctioned than that of overdraft.c. LoansIt is normally for short term say a period of one year or medium term say a period of five years. Now-a-days, banks do lend money for long term. Repayment of money can be in the form of installments spread over a period of time or in a lump sum amount. Interest is charged on the actual amount sanctioned, whether withdrawn or not. The rate of interest may be slightly lower than what is charged on overdrafts and cash credits. Loans are normally secured against tangible assets of the company.

d. Discounting of bill of exchangeThe bank can advance money by discounting or by purchasing bills of exchange both domestic and foreign bills. The bank pays the bill amount to the drawer or the beneficiary of the bill by deducting usual discount charges. On maturity, the bill is presented to the drawee or acceptor of the bill and the amount is collected.

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B. Secondary Functions of Banks

The bank performs a number of secondary functions, also called as non-banking functions.These important secondary functions of banks are explained below.

1. Agency FunctionsThe bank acts as an agent of its customers. The bank performs a number of agency functions which includes:-

a. Transfer of Fundsb. Collection of Chequesc. Periodic Paymentsd. Portfolio Management

e. Periodic Collectionsf. Other Agency Functions

a. Transfer of FundsThe bank transfer funds from one branch to another or from one place to another.

b. Collection of ChequesThe bank collects the money of the cheques through clearing section of its customers. The bank also collects money of the bills of exchange.

c. Periodic PaymentsOn standing instructions of the client, the bank makes periodic payments in respect of electricity bills, rent, etc.d. Portfolio ManagementThe bank also undertakes to purchase and sell the shares and debentures on behalf of the clients and accordingly debits or credits the account. This facility is called portfolio management.

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e. Periodic CollectionsThe bank collects salary, pension, dividend and such other periodic collections on behalf of the client.

f. Other Agency FunctionsThey act as trustees, executors, advisers and administrators on behalf of its clients. They act as representatives of clients to deal with other banks and institutions.

2. General Utility FunctionsThe bank also performs general utility functions, such as :-

a. Issue of Drafts, Letter of Credits, etc.b. Locker Facilityc. Underwriting of Sharesd. Dealing in Foreign Exchangee. Project Reportsf. Social Welfare Programmesg. Other Utility Functions

a. Issue of Drafts and Letter of CreditsBanks issue drafts for transferring money from one place to another. It also issues letter of credit, especially in case of, import trade. It also issues travellers' cheques.

b. Locker FacilityThe bank provides a locker facility for the safe custody of valuable documents, gold ornaments and other valuables.

c. Underwriting of SharesThe bank underwrites shares and debentures through its merchant banking division.

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d. Dealing in Foreign ExchangeThe commercial banks are allowed by RBI to deal in foreign exchange.

e. Project ReportsThe bank may also undertake to prepare project reports on behalf of its clients.

f. Social Welfare ProgrammesIt undertakes social welfare programmes, such as adult literacy programmes, public welfare campaigns, etc.

g. Other Utility FunctionsIt acts as a referee to financial standing of customers. It collects creditworthiness information about clients of its customers. It provides market information to its customers, etc. It provides travellers' cheque facility.

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Important Provisions Of The Banking Regulation ACT, 1949

PART 1:- PRELIMINARY

1. Short title, extent and commencement

(1) This Act may be called the Banking 2[Regulation] Act, 1949.

3[(2) It extends to the whole of India 4

(3) It shall come into force on such date5 as the Central Government may, by notification in the Official Gazette, appoint in this behalf.

2. Application of other laws not barred

sixty days, as may be specified in the notification, the operation of all or any of the provisions of this Act, either generally or in relation to any specified banking company.

(2) In a case of special emergency. The provisions of this Act shall be in addition to, and not, save as hereinafter expressly provided, in derogation of the 6[Companies Act, 1956 (1 of 1956)], and any other law for the time being in force.

7[3. Act to apply to co-operative societies in certain cases

Nothing in this Act shall apply to-

(a) A primary agricultural credit society;

(b) A co-operative land mortgage bank; and

(c) Any other co-operative society, except in the manner and to the extent specified in Part V.]

4. Power to suspend operation of Act

(1) The Central Government, if on a representation made by the Reserve Bank in this behalf it is satisfied that it is expedient so to do, may by notification in the Official Gazette, suspend for such period, not exceeding Governor of the Reserve Bank, or in his absence a Deputy Governor of the Reserve Bank nominated by him in this behalf may, by order in writing, exercise the powers of the Central Government under sub-section (1) so however that the period of suspension shall not exceed thirty days, and where the

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Governor or the Deputy Governor, as the case may be, does so, he shall report the matter to the Central Government forthwith, and the order shall, as soon as may be, be published in the Gazette of India.

(3) The Central Government may, by notification in the Official Gazette, extend from time to time the period of any suspension ordered under sub-section (1) or sub-section (2) for such period, not exceeding sixty days at any one time, as it thinks fit so however that the total period does not exceed one year.

(4). A copy of any notification issued under sub-section (3) shall be laid on the table of 8[Parliament] as soon as may be after it is issued.

5. Interpretation

9[In this Act], unless there is anything repugnant in the subject or context,-

10[(a) approved securities means-

(i) securities in which a trustee may invest money under clause (a), clause (b), clause (bb), clause (c) or clause (d) of section 20 of the Indian Trust Act, 1882 (2 of 1882)

(ii) Such of the securities authorised by the Central Government under clause (f) of section 20 of the Indian Trust Act, 1882 (2 of 1882), as may be prescribed]

(b) Banking means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdraw able by cheque, draft, order or otherwise.

(c) Banking company means any company which transacts the business of banking 11[in India];

Explanation: Any company which is engaged in the manufacture of goods or carries on any trade and which accepts deposits of money from the public merely for the purpose of financing its business as such manufacturer or trader shall not be deemed to transact the business of banking within the meaning of this clause;

banking policy means any policy which is specified from time to time by the Reserve Bank in the interest of the banking system or in the interest of monetary stability or sound economic growth, having due regard to the interests of the depositors, the volume of deposits and other resources of the bank and the need for equitable allocation and the efficient use of these deposits and resources.

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Who Is Regulate Banks

The Reserve Bank of India (RBI)is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve.The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.

The RBI plays an important part in the Development Strategy of the Government of India. It is a member bank of the Asian Clearing Union. The general superintendence and direction of the RBI is entrusted with the 21-member Central Board of Directors: the Governor ,4 Deputy Governors, 2 Finance Ministry representatives, 10 government-nominated directors to represent important elements from India's economy, and 4 directors to represent local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of these local boards consists of 5 members who represent regional interests, and the interests of co-operative and indigenous banks.

The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI).

Reserve Bank of India

- - - - - - - - - - - - - - - - - -

Headquarters Shahid bhagat Singh

MargMumbai, Maharashtra

Coordinates Coordinates:  18.932679°N

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72.836933°E

Established 1 April 1935; 80 years ago

Governor Raghuram Rajan

Currency Indian Rupee ( )₹

Reserves US$351.92 billion[1] [2]

Bank rate 8.25% [3]

Interest on

reserves

4.00%(market determined)[4]

Website https://rbi.org.in/

Main Functions OF RBI

Financial Supervision

The Reserve Bank of India performs this function under the guidance of the Board for Financial Supervision (BFS). The Board was constituted in November 1994 as a committee of the Central Board of Directors of the Reserve Bank of India.

Objective

Primary objective of BFS is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking FINANCE companies.

Constitution

The Board is constituted by co-opting four Directors from the Central Board as members for a term of two years and is chaired by the Governor. The Deputy Governors of the Reserve Bank are ex-officio members. One Deputy Governor, usually, the Deputy Governor in charge of banking regulation and supervision, is nominated as the Vice-Chairman of the Board.

BFS meetings

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The Board is required to meet normally once every month. It considers inspection reports and other supervisory issues placed before it by the supervisory departments.

BFS through the Audit Sub-Committee also aims at upgrading the quality of the statutory audit and internal audit functions in banks and financial institutions. The audit sub-committee includes Deputy Governor as the chairman and two Directors of the Central Board as members.

The BFS oversees the functioning of Department of Banking Supervision (DBS), Department of Non-Banking Supervision (DNBS) and Financial Institutions Division (FID) and gives directions on the regulatory and supervisory issues.

Regulator and supervisor of the financial system

The institution is also the regulator and supervisor of the financial system and prescribes broad parameters of banking operations within which the country's banking and financial system functions. Its objectives are to maintain public confidence in the system, protect depositors' interest and provide cost-effective banking services to the public. The Banking Ombudsman Scheme has been formulated by the Reserve Bank of India (RBI) for effective addressing of complaints by bank customers. The RBI controls the monetary supply, monitors economic indicators like the gross domestic product and has to decide the design of the rupee banknotes as well as coins.[36]

Managerial of exchange control

The central bank manages to reach different goals of the Foreign Exchange Management Act, 1999. Objective: to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India

Issuer of currency

The bank issues and exchanges currency notes and coins and destroys the same when they are not fit for circulation. The objectives are giving the public adequate sups of RBI are to issue bank notes, to maintain the currency and credit system of the country to utilize it in its best advantage, and to maintain the reserves. RBI maintains the economic structure of the country so that it can achieve the objective of price stability as well as economic development, because both objectives are diverse in themselves. For printing of notes, the Security Printing and Minting Corporation of India Limited (SPMCIL), a wholly owned company of the Government of India, has set up printing presses at Nashik, Maharashtra and Dewas, Madhya Pradesh. The Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a wholly owned subsidiary of the Reserve Bank, also has set up printing presses at Mysuru in Karnataka and Salboni in West Bengal. In

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all, there are four printing presses. And for minting of coins, SPMCIL has four mints at Mumbai, Noida (UP), Kolkata and Hyderabad for coin production.

Banker's bank

RBI also works as a central bank where commercial banks are account holders and can deposit money.RBI maintains banking accounts of all scheduled banks.[38] Commercial banks create credit. It is the duty of the RBI to control the credit through the CRR, bank rate and open market operations. As banker's bank, the RBI facilitates the clearing of cheques between the commercial banks and helps inter-bank transfer of funds. It can grant financial accommodation to schedule banks. It acts as the lender of the last resort by providing emergency advances to the banks. It supervises the functioning of the commercial banks and take action against it if need arises.

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AXIS BANK

Axis Bank India, the first bank to begin operations as new private banks in 1994 after the Government of India allowed new private banks to be established. Axis Bank was jointly promoted by the Administrator of the specified undertaking of the.

Unit Trust of India (UTI-I) Life Insurance Corporation of India (LIC) General Insurance Corporation Ltd.

Also with associates viz. National Insurance Company Ltd., the New India Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd.

Axis bank limited is the third largest private sector bank in India. Although classified as a private sector bank, axis bank’s promoter’s LIC and GIC, which collectively held approx 34% of the share as at 31st December 2013 are all entities owned and controlled by the government of India.

The bank offers financial services to customer segments covering large and mid-sized corporate, MSME, agriculture and retail business. Axis bank has its registered office at Ahmadabad.

History:-

UTI bank opened its registered office in Ahmadabad and corporate office in Mumbai in December 1993. The first branch was inaugurated on 2 April 1994 in Ahmadabad by Dr.MANMOHANSingh, then finance minister of India. UTI bank began its operations in 1994, after the government of India allowed new private banks to be established. The bank was promoted in 1993 jointly by the Administrator of the unit trust

of India life insurance corporation of India general insurance corporation, National insurance company, the new India assurance company, the oriental insurance corporation and united India insurance company.

In 2001 UTI bank agreed to merge with and amalgamate global trust bank, but the reserve bank of India withheld approval and nothing came of this. In 2004 the RBI put global trust into moratorium and supervised its merger into oriental bank of commerce.

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UTI bank opened its first overseas branch in 2006 Singapore. That same year it opened a representative office in shanghai, china

UTI bank opened a branch in the Dubai international financial centre in 2007. That same year it began branch operations in Hong Kong. The next year it opened a representative office in Dubai.

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PARTICULARS SCHEDULE NO. AMOUNT

CAPITAL N LIABILITIES:-

CAPITAL

RESERVES AND SURPLUS

DEPOSITS

BORROWINGS

OTHER LIABILITIES AND PROVISIONS

TOTAL

ASSETS:-

CASH AND BANK BALANCE WITH RESERVE BANK OF INDIA

BALANCE WITH BANKS AND MONEY AT CALL AND SHORT NOTES

INVESTMENTS

ADVANCES

FIXED ASSETS

OTHER ASSETS

TOTAL

CONTINGENT LIABILITY

BILLS FOR COLLECTION

1

2

3

4

5

6

7

8

9

10

11

12

4,741,044

442,024,106

3224419369

797,582,689

150,556,734

4,619,323,942

1,98,128,397

162,801,921

1,323,428,317

2,810,830,297

25,143,105

98,931,905

4,619,323,942

5,911,749,072

490,086,861

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BALANCE SHEET OF AXIS BANK AS ON 31-3-2015 (RS.IN THOUSANDS)

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PROFIT AND LOSS ACCOUNT

OF AXIS BANK FOR THE YEAR ENDED 31-3-2015 (RS IN THOUSANDS)

PARTICULARS SCHEDULE NO AMOUNT

A. INCOME:-

INTEREST EARNED

OTHER INCOME

TOTAL

B. EXPENDITURE:-

INTEREST EXPENDED

OPERATING EXPENSES

PROVISIONS AND CONTIGENCIES

TOTAL

C. NET PROFIT FOR THE YEAR (A-B)

. BALANCE IN PROFIT &LOSS A/C B/F FROM PREVIOUS YEAR

D.AMOUNT AVAILABLE FOR APPROPRIATION

E. APPROPRIATIONS

TRANSFER TO STATUTORY RESERVE

TRANSFER TO INVESTMENT RESERVES

TRANSFER TOCAPITAL RESERVES

TRANSFER TO (FROM) RESERVE FUND

PROPOSED DIVIDEND (INCLUDES TAX ON DIVIDEND

BALANCE IN PROFIT AND LOSS ACCOUNT CARRIED FORWARD

TOTAL

13

14

15

16

18(2.1.1)

18(2.2.1)

18(2.2.2)

18(2.2.5)

354,785,977

83,650,458

438,436,435

212,544,595

92,037,456

60,276,161

364,858,212

73,578,212

135,014,461

208,592,684

254,885

631,421

(12,664)

13,089,573

176,234,914

208,592,684

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F. EARNINGS PER EQUITY SHARE(FACE VALUE RS.2 PER SHARE) (RUPEES)

BASIC

DILUTED

SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS 17&18

SCHDULES REFFERED TO ABOVE FORM AN INTEGRAL PART OF THE PROFIT AND LOSS ACCOUNT

18(2.2.3)

31.18

30.85

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NOTES TO ACCOUNT

SCHEDULE 1- CAPITAL

AUTHORISED CAPITAL4,250,000,000(Previous Year- 4,250,000,000) Equity Shares Of Rs.2 Each

8,500,000

Issued ,Subscribe And Paid Up Capital2,370,522,199(Previous Year-2,349,222,765)Equity Shares Of Rs.2 Each Fully Paid

4,741,044

TOTAL 4,741,044

SCHEDULE 2-RESERVES AND SURPLUS

STATUTORY RESERVE OPENING BALANCEADDITION DURING THE YEAR

66,918,61318,394,555

TOTAL 85,313,168

SHARE PREMIUM ACCOUNTOPENING BALANCEADDITIONS DURING THE YEARLESS SHARE ISSUE EXPENSES

158,971,6914,768,948

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TOTAL 163,740,639

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INVESTMENT RESERVE ACCOUNTOPENING BALANCEADDITION DURING THE YEAR

1,034,860254,885

TOTAL 1,289,745

GENERAL RESERVEOPENING BALANCEADDITION DURING THE YEAR

3,543,100

TOTAL 3,543,100

CAPITAL RESERVEOPENING BALANCEADDITION DURING THE YEAR

9,848,828 631,421

TOTAL 10,480,249

FOREIGN CURRENCY TRANSLATION RESERVEOPENING BALANCEADDITION DURING THE YEAR

2,138,317(739,911)

TOTAL 1,398,406

RESERVE FUNDOPENING BALANCEADDITION DURING THE YEAR

36,549 (12,664)

TOTAL 23885

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BALANCE IN PROFIT AND LOSS ACCOUNT 176,234,914

TOTAL 442,024,106

SCHEDULE-3 DEPOSITS

A.DEMAND DEPOSITS(i).FROM BANKS(ii).FROM OTHERS

39,562,710521,519,479

B.SAVING BANK DEPOSIT 882,920,829C.TERM DEPOSITS(i) .FROM BANKS(ii).FROM OTHERS

84,010,1651,696,406,186

TOTAL 3,224,419,369(i).Deposits Of Branches in India 3,171,892,483(ii). Deposits Of Branches outside India 52,526,886total 3,224,419,369

Schedule 4- BORROWINGS

(I).BORROWINGS IN INDIA(i).reserve bank of India(ii).other banks(iii).other institutions and agencies(II).BORROWINGS OUTSIDE INDIA

-20,582,000255,729,912521,270,777

TOTAL 797,582,689

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SCHEDULE 5-OTHER LIABILITIES AND PROVISION

I.BILLS PAYABLE II.INTER OFFICE ADJUSTMENTS (NET)III. INTEREST ACCRUDIV. PROPOSED DIVIDEND(INCLUDES TAX ON DIVIDEND)V. CONTINGENT PROVISION AGAINST STADARD ASSETSVI. OTHERS (INCLUDING PROVISIONS)

39,372,758-

20,547,09513,055,440

15,956,484

61,624,957

TOTAL 150,556,734

SCHEDULE 6-CASH &BALANCES WITH RBI

I.CASH IN HAND(INCLUDING FOREIGN CURRENCY NOTES)II. BALANCES WITH RBI:-(i).IN CURRENT ACCOUNT (ii).IN OTHER ACCOUNTS

42,154,312

156,034,085-

TOTAL 198,188,397

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SCHEDULE 7-BALANCES WITH BANKS & MONEY AT CALL AND SHORT NOTICE

I. IN INDIA I. BALANCE WITH BANKSA. IN CURRENT ACCOUNTSB. IN OTHER DEPOSIT ACCOUNTSII.MONEY AT CALL AND SHORT NOTESA. WITH BANKSB. WITH OTHER INSTITUTIONS

1,941,21012,852,440

-86,192,067

TOTAL 100,985,717II. OUTSIDE INDIAI. IN CURRENT ACCOUNTSII.IN OTHER DEPOSIT ACCOUNTSIII. MONEY AT CALL AND SHORT NOTICE

8,062,43324,314,31129,439,463

TOTAL 61,816,204GRAND TOTAL (I+II) 162,801,921

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SCHEDULE 8 – INVESTMENTS

1.INVESTMENTS IN INDIA IN-I. GOVERNMENT SECURITIES” **II OTHER APPROVED SECURITIESIII.SHARESIV. DEBENTURES AND BONDSV. INVESTMENTS AND SUBSIDIARIESVI. OTHERS

812,460,111-7,390,249250,682,1208,694,365229,073,943

TOTALINVESTMENTS OUTSIDE INDIA 1,308,300,7882. INVESTMENTS OUTSIDE INDIAI. GOVERNMENT SECURITYII. SUBSIDIARIESIII. OTHERS

9,831,9092,995,7122,299,908

TOTALINVESTMENT OUTSIDE INDIA 15,127,529GRAND TOTAL (1+2) 1,323,428,317

SCHEDULE 9 – ADVANCES

A. I.BILLS PURCHASED AND DISCOUNTINGII. CASH CREDIT,OVERDRAFT AND LOANS REPAYBLE ON DEMANDIII. TERM LOANS

52,037,662804,186,766

1,954,605,869

TOTAL 2,810,830,297B.I.SECURED BY TANGIBLE ASSETSII. COVERED BY BANK /GOVERNMENT GUARANTIESIII. UNSECURED

2,194,008,86034,123,543

582,697,894TOTAL 2,810,830,297

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C. I.ADVANCES IN INDIAi. PRIORITY SECTORii. PUBLIC SECTORiii. BANKSiii. OTHERS

697,714,88535,629,7452,392,9681,616,864,530

TOTAL 2,352,602,1282. ADVANCES OUTSIDE INDIAI. DUE FROM BANKSII. DUE FROM OTHERSa. BILL PURCHASED AND DISCOUNTEDb. SYNDICATED LOANSc. OTHERS

1,562,500

4,528,093117,111,191335,026,385

TOTAL 458,228,169GRAND TOTAL (C1+C2) 2,810,830,297

SCHEDULE 10 – FIXED ASSETS

1.PREMISESGROSS BLOCKAT COST AT THE BEGINNING OF THE YEARADDITIONS DURING THE YEAR

9,041,075465,496

TOTAL 9,506,571DEPRICIATIONAS AT THE BEGINNING OF THE YEARCHARGE FOR THE YEARDEDUCTIONS DURING THE YEAR

556,787151,921-

DEPRICIATION TO DATE 708,708

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NET BLOCK 8,797,8632. OTHER FIXED ASSETS(FURNITURE & FIXTURES)GROSS BLOCKAT COST AT BEGINNING OF THE YEARADDITION DURING THE YEARDEDUCTION DURING THE YEAR

32,507,7704,757,982(1,802,270)

TOTAL 35,463,482DEPRICIATION AT COST AT BEGINNING OF THE YEARADDITION DURING THE YEARDEDUCTION DURING THE YEAR

17,886,6363,904,800(1,660,585)

DEPRICIATION TO DATE 20,130,851NET BLOCK 15,332,6313. CAPITAL WORK IN PROCESS 1,012,611GRAND TOTAL 25,143,105

SCHEDULE 11 – OTHER ASSETS

1.INTER OFFICE ADJUSTMENT (NET)2. INTEREST ACCRUED3. TAX PAID IN ADVANCE DEDUCTED AT SOURCE4. STATIONARY AND STAMPS5. NON BANKING ASSETS6.OTHERS

-41,505,1122,047,331

10,081-585,369,381

TOTAL 98,931,905

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SCHEDULE 12- CONTIGENT LIABILITIES

1. CLAIMS AGAINST THE BANK NOT ACKNOWLEDGED AS DEBTS2. LIABILITY FOR PARTLY PAID INVESTMENTSa. FORWARD CONTACTSb. INETREST RATES SWAPS,CURRENCY SWAPSC.FOREIGN CURRENCY

2,740,743

-2,800,956,9811,641,749,576238,438,623

TOTAL a+b+c 4,681,145,1804. GUARENTIES GIVEN IN BEHALF OFCONSTITUENTSIN INDIA OUTSIDE INDIA5. ACCEPTANCES, ENDORSEMENTS AND OTHER OBLIGATIONS6. OTHER ITEMS FOR WHICH THE BANK IS CONTIGENTLY LIABLE

582,793,361

137,954,194315,837,757191,277,839

GRAND TOTAL 5,911,749,072

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SCHEDULE 13 – INTEREST EARNED

1.INTEREST /DISCOUNT ON ADVANCES BILLS2. INCOME ON INVESTMENT3. INTEREST ON BALANCES WITH RBI OF INDIA AND OTHER BANKS4.OTHERS

258,678,18791,170,9232,312,594

2,624,273

TOTAL 354,785,977

SCHEDULE 14 – OTHER INCOME

1.COMMISSION ,BROKRAGE AND EXCHANGE2.PROFIT/LOSS ON SALE OF INVESTMENT3. PROFIT/LOSS ON SALE OF FIXED ASSETS (NET)4. PROFIT ON EXCHANGE DERIVATIVE5. INCOME EARNED BY WAY OF DIVIDEND6.MISICELLINOUS

61,210,7009,949,036(35,854)

9,841,234338,1252,347,217

TOTAL 83,650,458

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SCHEDULE 15- INTEREST EXPENDED

1.INTEREST ON DEPOSIT2. INTEREST ON RBI INTERBANK BORROWINGS3.OTHERS

171,368,10215,170,269

26,006,224TOTAL 212,544,595

SCHEDULE 16 – OPERATING EXPENSES

1.PAYMENT AND PROVISIONS FOR EMPLOYEES2. RENT , TAXES AND LIGHTING3. PRINTING AND STATIONARY4. ADVERTISEMENT AND PUBLICITY5. DEPRECIATION ON BANK PROPERTY6.DIRECTORS FEES , ALLOWANCES AND EXPENSES7. AUDITORS FEES AND EXPENSES8. LAW CHARGES9. POSTAGE, TELEGRAM,TELEPHONES ETC10. REPAIRS AND MAINTAINANCE11.INSURANCE12. OTHER EXPENDITURE

31,149,697

8,102,6441,183,585905,6794,056,72117,59615,692

108,4243,069,8187,323,1683,663,89532,440,537

TOTAL 92,037,456

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