SADIYON KA RISHTA

SHUKRIYA

efveosMeke ceb[ue / Board of Directors

yeeSb mes oeSb - eer efceefuevo Sve. vee[keCeea, eer Decejpeerle eeshe[e, [e@. Oecexv Yeb[ejer, eer S. meescemegvojce,

eer Jeer.mevleevejeceve- keee&keejer efveosMeke, eer Sce.[er.ceuee - DeOe#e SJeb HeyebOe efveosMeke, eer Deej. kes. ye#eer - keee&keejer efveosMeke, eer DeefceleeYe Jecee&, eer ceewefueve S. Jew<CeJe, [e@. Delegue DeeJeeue, eer jCepeerle kegceej epeea SJeb [e@. oerheke yeer. Heeke

Left to Right - Shri Milind N. Nadkarni, Shri Amarjit Chopra, Dr. Dharmendra Bhandari, Shri A. Somasundaram,

Shri V. Santhanaraman - Executive Director, Shri M. D. Mallya - Chairman & Managing Director, Shri R. K. Bakshi - Executive Director, Shri Amitabh Verma, Shri Maulin A. Vaishnav, Dr. Atul Agarwal, Shri Ranjit Kumar Chatterjee and Dr. Deepak B. Phatak

efveosMeke ceb[ue / Board of Directors

efveosMeke ceb[ue / Board of Directors

eer Sce.[er.ceuee DeOe#e SJeb HeyebOe efveosMeke eer Jeer.mevleevejeceve keee&keejer efveosMeke eer Deej. kes. ye#eer keee&keejer efveosMeke eer efceefuevo Sve. vee[keCeea

Shri M. D. Mallya Chairman & Managing Director Shri V. Santhanaraman Executive Director Shri R. K. Bakshi Executive Director Shri Milind N. Nadkarni Shri Amarjit Chopra

eer Decejpeerle eeshe[e

Dr. Dharmendra Bhandari

[e@. Oecexv Yeb[ejer

Shri A. Somasundaram

eer S. meescemegvojce
Shri Amitabh Verma

eer DeefceleeYe Jecee&

Shri Maulin A. Vaishnav

eer ceewefueve S. Jew<CeJe

Dr. Atul Agarwal

[e@. Delegue DeeJeeue

Shri Ranjit Kumar Chatterjee

eer jCepeerle kegceej epeea

Dr. Deepak B. Phatak

[e@. oerheke yeer. Heeke

II

ye[ewoe kee@Heexj erce Baroda Corporate Team s

ceneheyebOeke / General Managers

ceneheyebOeke General Managers

Deej. kes. ieie& jeceoeme MesCee@e kes. [er. mejkeej Depee kegceej Jeer. Mes<eeer Sve. jceCeer Sme. kes. eerJeemleJe oerheebkej cegKepeea S. kes. ieghlee Deej. kes. yevmeue peer. veeieceue jser Sme. Sme. cetbo[e vevove eerJeemleJe Sve. Deej. yeerveejeeCeve

R. K. Garg Ramadas Shenoy K. D. Sarkar Ajai Kumar V. Seshadri N. Ramani S. K. Srivastava Dipankar Mookerjee A. K. Gupta R. K. Bansal G. Nagmal Reddy S. S. Mundra Nandan Srivastava N. R. Badrinarayanan

Sme. kes. Yeeie&Je yeer. Sue. eerJeemleJe ([e@.) ceerveue Yeiele (eerceleer) kes. Jeer. Jejepeeveer Dees. Sme. efheuuew efmeefjue hee$ees yeer. yeer. ieie& Sme. Yeeeee& peer. meer. Mecee& pes. jcesMe efJe. Se. Lees oeme megyeerj kegceej S. [er. Sce. eeJeefue G<ee DeveblemegyeeCeve (eerceleerr)

S. K. Bhargava B. L. Srivastava (Dr.) Minal Bhagat (Ms.) K. V. Vachhrajani O. S. Pillai Cyril Patro B. B. Garg S. Bhattacharya G. C. Sharma J. Ramesh V. H. Thatte Das Subir Kumar A. D. M. Chavali Usha Ananthasubramanian (Ms.)

III

uesKee hejer#eke / Auditors

uesKee hejer#eke Auditors

yeer.meer.pewve SC[ keb. meveoer uesKeekeej
B C Jain & Co. Chartered Accountants

S. meeosJe SC[ keb. meveoer uesKeekeej

A. Sachdev & Co Chartered Accountants

ieghlee veeej SC[ keb. meveoer uesKeekeej

Gupta Nayar & Co. Chartered Accountants

Sme kes keHetj SC[ keb. meveoer uesKeekeej

S. K. Kapoor & Co. Chartered Accountants

DeefMJeveer SC[ SmeesefmeS meveoer uesKeekeej

Ashwani & Associates Chartered Accountants

Sve meer yevepeea SC[ keb. meveoer uesKeekeej

N C Banerjee & Co Chartered Accountants

HeOeeve keeee&uee ye[ewoe neTme, ceeC[Jeer, Je[esoje 390 006. ye[ewoe kee@Heexjs mesvj meer-26, peer-yuee@ke, yeeve-keguee& kee@cHeueskeme, yeeve (Het.), cegbyeF& 400 051. efveJesMeke mesJeeSb efJeYeeie eLece leue, ye[ewoe keeheexjs meWj, meer-26, peer-yuee@ke, yeebe-keguee& kee@chueskeme, yeebe (het), cegbyeF& 400 051. jefpem^ej SJeb DevlejCe SpeW cewmeme& keeJeea kecHetjMesej Hee. efue. Huee veb. 17-24, efJeuejeJe veiej, Fcespe DemHeleeue kes Heeme, ceeOeeHegj, nwojeyeeo 500 081.
Head Baroda House, Mandvi, Vadodara 390 006. Baroda Corporate Centre , Bandra-Kurla Complex, Bandra (E), Mumbai 400 051. Investor 1st Floor, Department 400 051.

C-26, G-

Registrars & Transfer Agent M/s. Karvy Computershare Pvt. Ltd. Plot No. 17-24, Vithalrao Nagar, Nr Image Hospital, Madhapur, Hyderabad 500 081.

IV

efJe<ee meteer / Contents

efJe<ee meteer / Contents

he= DeOe#eere JekeleJe ................................ 30 efveosMekeeW keer efjhees&............................... 33 yeemesue II efheuej 3 ekeerkejCe .................... 56 cenlJehetCe& efJeeere meteke ......................... 70 MeyoeJeueer ......................................... 72 legueve-he$e ......................................... 74 ueeYe-neefve uesKee................................... 75 vekeoer-eJeen efJeJejCeer.............................115 uesKee hejer#ekeeW keer efjhees& .........................117 mecesefkele efJeeere efJeJejefCeeeb ......................119
Page

keeheexjs-efveeb$eCe.................................147
Chairman's Statement.................................2

veesefme ...........................................181
Directors' Report .........................................5

ee@kemeer Heece& / GheefmLeefle heeea / F&meerSme ..............

Basel II Pillar 3 disclosures .......................56 Key Financial Indicators ............................70 Glossary ....................................................72 Balance Sheet ...........................................74 Profit & Loss Account ................................75 Statement of Cash Flow ..........................115 Auditors' Report.......................................117 Consolidated Financial Statements.........119 Corporate Governance............................147 Notice ......................................................181 Proxy Form / Attendance Slip / ECS .............

Chairmans Statement

CHAIRMANS STATEMENT

Thrust on Growth with Quality

Bank marching ahead by creating strong foundations for growth

M. D. Mallya Chairman & Managing Director

Dear Stakeholder, I am delighted to report that Bank of Baroda has delivered a robust performance in 2008-09 at a time which is tough and challenging for the banking and financial services industry across the globe. Since the mid-2008, the global economy has been experiencing a severe slowdown inflicted by a massive banking and liquidity crisis. With all the advanced economies in a synchronized recession, the global GDP is projected to contract for the first time since the Second World War. While the impact of the global crisis was relatively less on India, the contraction of capital flows and sell-off in domestic market adversely affected the domestic and external financing channels for Indian corporates. A sharp slowdown in global demand adversely affected Indias exports and industrial performance. Reserve Bank of India had to shift its policy stance from monetary tightening in response to the spiralling inflationary pressures in the first half of 2008-09 to monetary easing in response to downward inflationary pressures and moderation of growth engendered by the crisis. Against this backdrop, notwithstanding the most volatile market and policy environment, the Bank moved ahead with a thrust on qualitative growth. It

Chairmans Statement

expanded its global business level by 30% (y-o-y) to Rs 3,36,383 crore by end-March, 2009 and at the same time brought down, in absolute terms, both the gross and net non-performing assets. Being a Bank with a strong overseas presence, it in its fold has more than 36 million global customers enjoying the state-of-the-art technology. Its performance in 2008-09 reflects its strength to consolidate its position as a premier Public Sector Bank given its growing geographical reach, a vast bouquet of products and services and robust risk management capabilities. New Initiatives The value proposition of the Bank to its customers lies in its impregnable foundation and inner strength as a financial service provider by leveraging its technology and brand. During the year 2008-09, the Banks focus was mainly on evolving effective strategies to optimize human resource management in a highly motivational work environment, drawing maximum mileage out of the available Information Technology infrastructure and imbibing a full-fledged marketing culture to promote a sense of professionalism in approach and attitude. The Bank put in place a progressive marketing and sales structure and implemented sales campaigns with specific business targets and lead generation programs. The Banks business philosophy revolved around the notion of customer centricity and market analytics to ensure higher order customer satisfaction. The Bank leveraged its technology to make available good quality products and services to its customers without sacrificing the personal touch in customer relations. During 2008-09, the Bank launched a host of business, customer and technology initiatives to create a strong foundation for sustainable growth in the years ahead. By 31st March, 2009, the Bank completed Core Banking Solution (CBS) rollout in 1,922 domestic branches accounting for 94% of its business. All CBS branches of the Bank are enabled for inter bank remittances through RTGS and NEFT. The CBS has also been implemented in its 43 overseas branches and 23 branches of its overseas subsidiaries. The Banks ATM network too expanded to 1,179 with two biometric ATMs in the rural areas. The Bank launched several new IT products and services such as Phone Banking Service, Corporate Cash Management System, Payment Messaging Solution and Global Treasury, etc., to increase the customer convenience and also to reduce the transaction cost. In order to improve the credit flows under the Retail Business, the Bank took many initiatives introducing new products both on assets and liability sides during 2008-09 such as Loan for Earnest Money Deposit, Baroda Additional Assured Advance to NRIs, Baroda Bachat Mitra etc. Besides, various products were modified to make them more market oriented.

In order to mobilize fresh retail business, the Bank, adopting an aggressive market strategy, launched Retail Loan Festival Campaigns offering various concessions during the campaign period. MoUs were signed with a number of car manufacturing companies and tie-up arrangements made for providing Life Insurance Cover to Education Loan and Home Loan customers sanctioned under special packages. In its role as a partner to the rural development, the Bank, besides meeting all its credit deployment targets, established four Baroda Swarojgar Vikas Sansthan during the year 2008-09 for imparting training to the unemployed youth and facilitating in their gainful self-employment. The Bank launched a number of Credit Campaigns for Direct Agriculture and SME sectors, organized credit camps at the branch level and provided credit facilities to the borrowing customers in terms of customized products and services. The Bank has identified 350 thrust branches with potential for agriculture lending and has been pursuing the Business Facilitator Model for canvassing agriculture loans. The Bank adopted 101 villages across the country for allround integrated development and cent percent financial inclusion. Business Performance Highlights The Bank continued its journey of making sustained growth by setting new milestone of business size recording global business growth of 30% during 2008-09. The domestic deposits of the Bank increased by 23.6% and domestic advances rose by 29.3% - way ahead of the Indian banking industrys average growth. The priority sector credit surpassed the mandatory requirement and registered a growth rate of 23.9% during the year 2008-09. The Bank recorded a growth of 24.2% in SME credit, 27.9% in farm credit and 16.3% in retail credit reflecting a balanced growth of its loan book. The level of Banks Net Profit at Rs 2,227.20 crore for the year 2008-09 reflected a robust year-on-year growth of 55.2%. During 2008-09, the Banks overseas business grew by 46.3% partly reflecting an impact of 25.0% depreciation of rupee against the US dollar on rupee balance sheet. The overseas business contributed 22.5% to the Banks Global Business and 21.2% to the Banks Gross Profit during 200809. As the Banks primary objective is to grow with quality, the Bank focused on containing the impaired assets to the minimum possible level. While the Gross NPA in domestic operations stood at 1.51% at end-March 2009, the same for Overseas Operations was just 0.51%. The global Net NPA too was pegged at 0.31% by the year-end 2008-09 in line with the promise given by the Bank to its stakeholders. Looking Forward On 20th July 2008, the Bank completed its Centenary year. For Bank of Baroda, it has been a long and eventful journey

Chairmans Statement

over 100 years and across 25 countries. After undergoing a massive transformation by changing its logo in June 2005, the Bank won many industry level awards for its marketing and business initiatives and strived to optimize its competitive edge in the banking space. The Baroda brand positioning was entrenched in the consumer mind as Indias International Bank, balancing its time tested values over its 100 years of existence with the contemporary challenges of being market sensitive and responsive as it marches tirelessly towards its next century. In order to position the Bank as the most preferred bank, it would be necessary to consolidate the Banks position by reorienting its policies, products, procedures and pricing strategies to best suit the customer needs and expectations. The coming year 2009-10 is, therefore, a special year from the perspective of the Banks customers. The Bank has taken a series of customer-centric technology initiatives in the past few years. The transaction processing system has stabilized under the CBS environment. The alternate e-delivery channels are made available to the customers. Thus, many steps have been taken by the Bank to serve the customers with speed and efficiency. Banks Corporate Goals & Strategy To maximize quality growth and profit through enhanced customer orientation with prudent risk and liquidity management policies and practices in our endeavour to consolidate Banks financial strength During the year 2009-10, the Bank would continue to perform with a thrust on Growth with Quality by focusing on low-cost deposits, by further reducing the dependence on bulk Business and by protecting the asset quality with a firm control on the process of credit origination. The Banks business plan and broad strategy in the year 2009-10 to achieve its corporate goals, objectives and to explore newer business opportunities in the domestic as well as overseas market would be as under:
n

Formulating and adhering to the best corporate governance practices with an aim to set high standard of ethical values, transparency and disciplined approach to achieve excellence. Focusing on a consistent and broad-based resource mobilization plan. Enlarging the base of retail customers by leveraging technology and taking newer technology based initiatives. Diversifying the loan book and managing the credit risk effectively. Penetrating deeper into hitherto unbanked centres/ customer segments. Aggressively canvassing non-fund based business so as to improve the share of fee-based income. Maintaining a fine balance between the size and the strength of the Balance Sheet by managing Net Interest Margin (NIM), Risk Profile of the Bank and improving the Cost-Income Ratio. Enhancing the image of the Bank as a Customer Centric Organization.

During the year 2008-09, Bank of Baroda enhanced the strength of its balance sheet and proved its ability to deliver strong results even during turbulent times. With a sustained thrust on risk management, technology, marketing and customer centricity, it is well positioned to take advantage of the future opportunities. In our journey, I solicit your continued cooperation and patronage.

Reorienting its systems and procedures towards customer convenience and enhanced customer satisfaction.

M. D. Mallya Chairman & Managing Director

Directors' Report

DIRECTORS REPORT

Y
n n

our Directors have pleasure in presenting the One Hundred and First Annual Report of the Bank with the audited Balance Sheet, Profit & Loss Account and the Report on Business and Operations for the year ended March 31, 2009 (FY09).
SEGMENT-WISE PERFORMANCE
The Segment Results for the year 2008-09 of Rs 3,342.95 crore have been contributed by the Treasury Operations to the extent of Rs 1,019.57 crore, Rs 845.22 crore by Corporate/ Wholesale banking, Rs 1,406.50 crore by Retail Banking and Rs 1,769.39 crore by Other Banking Operations. The Bank earned the Profit after Tax of Rs 2,227.20 crore after deducting Rs 1,697.74 crore of unallocated expenditure and Rs 1,115.75 crore as provision for tax.

PERFORMANCE HIGHLIGHTS
Total Business (Deposit+Advances) increased to Rs 3,36,383 crore reflecting a growth of 30.01%. Gross Profit and Net Profit were Rs 4,305.01 crore and Rs 2,227.20 crore respectively. Net Profit registered a growth of 55.2% over previous year. Credit-Deposit Ratio stood at 82.36% as against 77.32%. Retail Credit posted a modest growth of 16.3% constituting 17.8% of the Banks Gross Domestic Credit in FY09. Net Interest Margin (NIM) as per cent of interest earning assets was at the level of 2.91%. Net NPAs to Net Advances stood at 0.31% this year against 0.47% last year. Capital Adequacy Ratio (CAR) as per Basel I stood at 12.88% & as per Basel II at 14.05%. Net Worth improved to Rs 11,387 crore registering a rise of 19.52%. Book Value improved from Rs 261.54 to Rs 312.61 on year.

DIVIDEND
Directors have proposed a higher dividend of 90.0% (Rs 9 per share) for the year ended March 31st, 2009. Total outgo in the form of dividend, including taxes, will be Rs 383.56 crore.

CAPITAL ADEQUACY RATIO (CAR)

The Banks Capital Adequacy Ratio (CAR) is comfortable at 14.05% under Basel II on 31st March 2009. During the year, the Bank strengthened its capital-base by raising Rs 1,500 crore through unsecured subordinated bonds and Rs 300.20 crore through innovative perpetual bonds. The Banks Net Worth as at 31st March 2009 was Rs 11,387.19 crore comprising of paid-up equity capital of Rs 363.53 crore and reserves (excluding revaluation reserves) of Rs 11,021.67 crore. An amount of Rs 1,843.65 crore was transferred to reserves from the profits earned.

Business per Employee moved up from Rs 710 lacs to Rs 914 lacs on year. KEY FINANCIAL RATIOS

Particulars Return on Average Assets (ROAA) (%) Average Interest Bearing Liabilities (Rs crore) Average Cost of Funds (%) Average Interest Earning Assets (Rs crore) Average Yield (%) Net Interest Margin (%) Yield Spread (%) Cost-Income Ratio (%) Book Value per Share (Rs) EPS (Rs)

2008-09 1.09 1,71,666.55 5.81 1,75,818.59 8.58 2.91 2.78 45.38 312.61 61.14

2007-08 0.89 1,37,324.72 5.75 1,34,896.47 8.76 2.90 3.00 50.89 261.54 39.41

Directors' Report

OTHER PRUDENTIAL MEASURES

As a prudent measure, the Bank has made provision towards contribution to gratuity (Rs 38.60 crore), pension funds (Rs 435 crore), leave encashment (Rs 37 crore) and additional retirement benefits (Rs 40 crore) on actuarial basis. Total provisions under these four categories amounted to Rs 550.60 crore during the year 2008-09, against Rs 421.43 crore during 2007-08. Total corpus available with the Bank at end March 2009 under these heads is: Rs 794.57 crore (gratuity), Rs 2,629.00 crore (pension funds), Rs 300.40 crore (leave encashment), and Rs 278.80 crore (additional retirement benefits).

weaker domestic demand, inflationary environment is expected to remain benign in the coming six months. Hit by the slump in global demand, Indias merchandise exports ended the year 2008-09 at U.S. $168.7 billion, up a modest 3.4% from U.S. $163 billion a year ago. The imports too registered a limited growth of 14.3% (y-o-y). Indias trade deficit for 2008-09 widened to U.S. $119.05 billion from U.S. $88.52 billion a year ago. The current account deficit is projected at about 3.0% of GDP in 2008-09 primarily due to a markedly higher oil import bill (especially in the first six months of 2008-09). Indian economy also suffered on account of the reduced inflow of the long and short-term debt and reversal of portfolio inflows during 2008-09. A positive development was, however, relative resilience of FDI inflows (US $27.38 billion in 200809) in the face of reversal of capital flows, reflecting the attractiveness of India as a long-term investment destination. While Indias foreign exchange reserves declined from a peak of $315 billion in May 2008 to $252.33 billion at end-March, 2009 they remain adequate compared to the countrys gross financing requirement and imports. Moreover, Indias external debt and debt sustainability indicators continue to remain at comfortable levels and ensure external stability. As a result of the global crisis, the benchmark stock market index declined by over 38.0% in 2008-09 and the rupee depreciated 26.4% against the U.S. dollar. In early 2009-10, however, the rupee and the stock markets have stabilized to a great extent. During the year 2008-09, the monetary policy stance of RBI (Reserve Bank of India) shifted from concerns related to inflation in the first half of 2008-09 to maintaining financial stability and arresting the growth moderation in the second half. The RBIs measures including cutting policy rates, lowering the cash reserve ratio and statutory liquidity ratio and easing controls on capital inflows eased the domestic liquidity pressures that appeared in September and October and brought down inter-bank rates. Through the RBIs policy actions, the cumulative primary liquidity potentially available to the financial system is almost 7.0% of GDP. In response to the global crisis, the Government too launched three fiscal stimulus, which came on top of an already announced expanded safety-net programme for the rural poor, the farm loan waiver package and payout following the Sixth Pay Commission Report. The combined impact of these fiscal measures is around 3.0% of GDP. Indian economy has to face several challenges, going forward, in the context of the ongoing global financial crisis such as stepping up public and private investment demand, maintaining adequate liquidity in the system in view of higher government spending, preserving financial stability and benign interest rate environment, etc. Going forward, the fiscal and monetary stimulus initiated during 2008-09 combined with lower commodity prices would

MANAGEMENT DISCUSSION AND ANALYSIS Economic Scenario in 2008-09

After witnessing a robust average growth of around 8.9% during 2003-04 through 2007-08, the Indian economy experienced a growth deceleration in 2008-09 primarily on account of a synchronized global slowdown. Emerging market economies including India suffered primarily due to diminishing export demand and constrained external financing conditions. For India, the growth slowdown was more pronounced in the second half of 2008-09 triggered by a broad-based industrial slowdown and a contraction in exports for five consecutive months beginning October 2008. The Reserve Bank of India (RBI) in its Annual Monetary Policy for 2009-10 has projected Indias GDP growth for 2008-09 in the range of 6.5% to 6.7%. At the sectoral level, the performance of agriculture sector during 2008-09 was satisfactory. The Central Statistical Organisation (CSO) has projected agriculture and allied activities to grow by 2.6% in 2008-09. According to the Second Advance Estimates of GDP, the total foodgrains production during 2008-09 would be around 227.9 million tonnes as against 230.8 million tonnes in 2007-08. Industrial sector, however, experienced a loss of growth momentum during 2008-09 with the year-on-year expansion being 2.4% as against 8.5% in 2007-08. Similarly the core or infrastructure industries recorded a lower growth of 2.7% in their production during 2008-09 as compared to 5.9% during 200708. Within the core sector, slowdown was more pronounced for steel and crude oil segments. The primary contributor to industrial slowdown was a slowdown in investment and private consumption demand. The government consumption expenditure, however, remained buoyant on account of fiscal stimulus measures and committed expenditure. Corporate performance too remained subdued throughout the year, though the third quarter of 2008-09 was the worst in terms of both the sales turnover and profitability. After rising to nearly 13.0% (y-o-y) in August 2008, headline inflation (Wholesale Price Index) dropped to 0.26% as on March 28, 2009. With decreasing commodity prices and

Directors' Report

cushion the economic downturn by stabilizing domestic economic activity. Accordingly, with the assumption of normal monsoon, the RBI has placed real GDP growth at 6.0% for 2009-10 and inflation (WPI) at 4.0% by end of fiscal 2010.

Performance of Indian Banking Sector in 2008-09

Indian banking industry faced many uncertainties during 2008-09 in the face of tight market liquidity in the global financial markets. The RBIs prompt and relevant measures ensured adequate domestic and foreign liquidity to Indian banking industry so that the flow of credit to productive sectors would not suffer much. Yet, on account of the severe global economic slowdown and its spillover effects on India, growth of bank credit to commercial sector decelerated in 2008-09. Moreover, expansion in net foreign exchange assets of the Indian banking industry moderated to a large extent. Bank credit to the commercial sector increased by 16.9% (y-o-y) in 2008-09 as against 21.0% a year ago. Non-food credit growth of commercial banks picked up in the first two quarters of 2008-09 on account of a sizeable increase in credit to petroleum sector and also as a substitution for funds raised by the corpoates from non-banking and external sources. However, non-food credit growth for the year as a whole was 17.5% at end-March, 2009 as against 23.0% a year ago. The lower expansion of credit compared to deposit mobilization at 19.8% (y-o-y) resulted in a decline in incremental creditdeposit ratio (y-o-y) of scheduled commercial banks (SCBs) to 64.4% at end-March 2009 as against 73.6% at end-March 2008. The RBI data shows that while the deceleration in bank credit was observed across the banking system, it was shaper for the private and foreign banks. The SCBs investment in SLR securities as a per cent of their net demand and time liabilities increased to 28.1% at end-March 2009 from 27.8% a year ago due to lower credit expansion in 2008-09. Data on sectoral deployment of credit of SCBs shows that during 2008-09, the incremental credit expansion was primarily led by infrastructure, petroleum, coal products & nuclear fuels, iron & steel, engineering, construction and chemical & chemical products industries. While the credit flows to small industries and personal borrowers moderated, those to agriculture sector posted an increase. The Indian banks, in general, posted healthy financial results during 2008-09 compared to their global peers despite challenging economic conditions. The outlook for Indian banking industry remains positive in 2009-10 on the backdrop of its stricter prudential regulation by the RBI, sound financial indicators and stable political regime.

assumed by it are within the defined risk appetites and are adequately compensated. The Risk Management Architecture in the Bank comprises Risk Management Structure, Risk Management Polices and Risk Management Implementation and Monitoring Systems. Risk Management Structure The overall responsibility of setting the Banks risk appetite and effective risk management rests with the Board and apex level management of the Bank. The Board has constituted a Sub Committee of the Board on ALM and Risk Management to assist the Board on financial risk related issues. The Bank has a full fledged Risk Management Department headed by a General Manager and consisting of a team of qualified, trained and experienced staff members. The Bank has set up separate committees, as under, of Top Executives of the Bank to supervise respective risk management functions. Asset Liability Management Committee (ALCO) is basically responsible for the management of Market Risk and Balance Sheet Management. It has the delegated authority and responsibility of managing deposit rates, lending rates, spreads, transfer pricing, etc in line with the guidelines of Reserve Bank of India. Credit Policy Committee (CPC) has the responsibility and authority to formulate and implement various enterprise-wide credit risk strategies including lending policies and also to monitor Banks credit risk management functions on a regular basis. Operational Risk Management Committee (ORMC) has the authority and responsibility of mitigation of operational risk by creation and maintenance of an explicit operational risk management process. Risk Management Policy The Bank has Board approved policies and procedures in place to measure, manage and mitigate various risks that the Bank is exposed to. In order to provide ready reference and guidance to the various functionaries of the Risk Management System in the Bank, the Bank has in place Asset Liability Management and Group Risk Policy, Domestic Loan Policy, Mid Office Policy, Off Balance Sheet Exposure Policy (domestic), Business Continuity Planning Policy, Pillar III Disclosure Policy, Stress Test Policy and Stress Test Framework, Operational Risk Management Policy, Internal Capital Adequacy Assessment Process (ICAAP), Credit Risk Mitigation and Collateral Management Policy duly approved by the Board. Risk Management System Implementation and Monitoring

Risk Management
Taking various types of financial risks is an integral part of the banking business. Bank of Baroda has a robust and integrated Risk Management system to ensure that the risks

In the financial services industry, the main risk exposures that the Bank faces are Liquidity Risk, Credit Risk, Market Risk and Operational Risk.

Directors' Report

Liquidity Risk Liquidity risk is the risk that the Bank either does not have the financial resources available to meet all its obligations and commitments as they fall due or has to access these resources at excessive cost. During the second and third quarters of 2008-09, Indian market in line with the global financial market, exhibited high level of volatility causing liquidity stress to the market participants. The Indian Government as well as the Reserve Bank of India introduced various economic and monetary measures to inject liquidity into the financial system. As a result, the financial system exhibited a fair level of stability at the end of the year under review. The Banks ALCO has the overall responsibility to monitor liquidity risk of the Bank. The liquidity risk is measured by flow approach on a daily basis through Structural Liquidity Gap reports and on a dynamic basis by Dynamic Gap reports on fortnightly basis for the next three months. Under Stock Approach, the Bank has established a series of caps on activities such as daily call lending, daily call borrowings, net short term borrowings and net credit to customer deposit ratio and prime asset ratio, etc. The Asset Liability Management (ALM) Cell, working in the Risk Management Department reviews the liquidity position on a daily basis to ensure that the negative liquidity gap does not exceed the tolerance limit in the respective time buckets. Specialized Integrated Treasury Branch, Mumbai assesses the domestic liquidity in respect of all foreign currency exposures. In respect of overseas operations, each territory assesses its currency wise liquidity position at prescribed intervals. The funding requirements in case of contingencies are also examined at regular intervals to keep the Bank ready to meet any crisis scenario. The Bank has managed its liquidity by prudent diversification of the deposit base, control on the level of bulk deposit, and ready access to wholesale funds under normal market conditions. The Bank has significant level of marketable securities, which can be sold, repoed, or used as collateral in case of need. Credit Risk Credit Risk is the risk that the counterparty to a financial transaction will fail to discharge an obligation resulting in a financial loss to the Bank. Credit risk management processes involve identification, measurement, monitoring and control of credit exposures. In order to provide clarity to the operating functionaries, the Bank has various policies in place such as Domestic Loan Policy, Off-Balance Sheet Exposure Policy, etc, wherein the Bank has specified various prudential caps for credit risk exposures. The Bank also conducts industry studies to assess the risk prevalent in industries where the Bank has sizable exposure and also for identification of sunrise industries. The industry reports are communicated to the operating functionaries to consider the same while lending to these industries.

The Bank has adopted various credit rating models to measure the level of credit risk in a specific loan transaction. The Bank uses a robust rating model developed to measure credit risk for majority of the business loans (non personal loans). The rating model has the capacity to estimate probability of default (PD), Loss Given Default (LGD) and unexpected losses in a specific loan asset. Apart from estimating PD and LGD, the credit rating model will also help the Bank in several other ways as under. of Risk Weighted Assets credit risk. evolve a desired profile of credit risk. Apart from assessing credit risk at the counterparty level, the Bank has appropriate processes and systems to assess credit risk at portfolio level. The Bank undertakes portfolio reviews at regular intervals to improve the quality of the portfolio or to mitigate the adverse impact of concentration of exposures to certain borrowers, sectors or industries. Market Risk Market risk is the exposure to adverse price movements of financial instruments arising as a result of changes in market variables such as interest rates, exchange rates and other asset prices. The objective of market risk management is to avoid excessive exposure of the Banks earnings and equity to loss and to reduce the Banks exposure to the volatility inherent in financial instruments such as securities, foreign exchange contracts, equity and derivative instruments, as well as balance sheet or structural positions. The primary risk that arises for the Bank as a financial intermediary is interest rate risk due to the Banks asset-liabilities management activities. Other market related risks to which the Bank is exposed are foreign exchange risk on foreign currency positions, liquidity, or funding risk, and price risk on trading portfolios. The Bank has clearly articulated policies to control and monitor its treasury functions. The Bank also has an asset liability management policy to address the market risk. These policies comprise management practices, procedures, prudential risk limits, review mechanisms and reporting systems. These policies are revised periodically in line with changes in financial and market conditions. The Interest rate risk is measured through interest rate sensitivity gap reports and Earning at Risk. Furthermore, the Bank calculates duration, modified duration, Value at Risk for its investment portfolio consisting of fixed income securities, equities and forex positions on monthly basis. The Bank monitors the short-term Interest rate risk by NII (Net Interest Income) perspective and long-term interest rate risk by EVE (Economic Value of Equity) perspective. The Value at Risk for the treasury positions is calculated for 10 days holding period at 99% confidence level. The stress testing of fixed interest investment portfolio through sensitivity analysis and equities

Directors' Report

through scenario analysis is regularly conducted. Based on the RBI directions, the Bank is also estimating the Economic Value of Equity impact on a quarterly basis. Operational Risk Operational risk is the risk of loss on account of inadequate or failed internal process, people and systems or external factors. As stated above, the ORMC has the authority and responsibility of monitoring the operational risk of the Bank. The Bank monitors operational risk by reviewing whether its internal systems and procedures are duly complied with. The Bank collects and analyses loss and near miss data on operational risk based on different parameters on a half yearly basis and, wherever necessary, corrective steps are taken. Banks Compliance with BASEL II The Bank has one of the largest overseas presence amongst the Indian banks and has implemented the Basel-II Guidelines from 31st March 2008. In keeping with the guidelines of the RBI, the Bank has adopted Standardized Approach for Credit Risk, Basic Indicator Approach for Operational Risk, and Standardized Duration Approach for Market Risk for computing the capital adequacy ratio. The Bank has, therefore, been computing the Capital to Risk Weighted Assets Ratio (CRAR) on parallel basis under Basel-I and Basel-II Guidelines. The Bank is also providing additional capital towards Operational Risk under Basel II guidelines. The CRAR of the Bank is summarized as under. Basel I 31.03.2008 31.03.2009 12.91% 12.88% Basel II 12.94% 14.05%

year-end disclosure as on 31.03.2009 is part of the Annual Report and is displayed on the Banks web site. The halfyearly disclosure as on 30.09.2008 has also been displayed on the Banks web site.

Credit Monitoring Function

Credit monitoring on a continuous basis is one of the most important tools for ensuring quality of advance assets. The Bank has the system of monthly monitoring of the advance accounts at various levels to prevent asset quality slippages and to take timely corrective steps to improve the quality of credit portfolio. A separate department for Credit Monitoring function at the corporate level, headed by a General Manager, and one at the Regional/Zonal level, started functioning since September 2008. The Slippage Prevention Task Force formed at all Zonal/Regional offices in terms of the Banks Domestic Loan Policy was activated for the purpose of arresting slippage and also for initiating necessary restructuring in potential sick accounts at an early stage in conformity with the laid down norms and guidelines. The Bank placed special focus on sharpening of the credit monitoring process for improving the asset quality, identifying areas of concern/branches requiring special attention, working out strategies and ensuring their implementation in a time bound manner. The primary objectives of the Credit Monitoring Department at the corporate level are fixed as under: sickness in the loan accounts at an early stage; preventing impairment in credit quality, whenever signals are noticed in any account, e.g. decline in credit rating, delay in meeting liabilities in LC/Guarantee and delay in servicing of interest/ installments etc; relegation in Credit Ratings through vigorous follow up; rescheduling/rephasement as well as further financing in deserving and genuine cases with matching contribution from the borrower; of accounts and compliance of terms and conditions, thereby improving the quality of Banks credit portfolio;

The RBI has laid down time schedule for implementation of the advanced approaches of computation of credit risk, market risk and operational risk under the Basel II framework. The Bank is equipped to migrate to advanced approaches and will proceed as per the RBI directions in due course. In compliance with the Pillar 2 guidelines of the Reserve Bank of India under Basel II framework, the Bank formulated its Policy of Internal Capital Assessment Process (ICAAP) to assess internal capital in relation to various risks the Bank is exposed to. Stress Testing and scenario analysis are used to assess the financial and management capability of the Bank to continue to operate effectively under exceptional but plausible conditions. Such conditions may arise from economic, legal, political, environmental and social factors. The Bank has a Board approved Stress Testing Policy describing various techniques used to gauge their potential vulnerability and Banks capacity to sustain such vulnerability. The Bank conducted its ICAAP tests as on 30.09.2008 and 31.03.2009 along with the stress test as per the ICAAP Policy of the Bank. The disclosure under Pillar 3 of market discipline guidelines of the RBI has been done as on 30.09.2008 and 31.03.2009. The

Restructuring of Advance Accounts As a part of the Banks policy to help genuine borrowers facing slow down, the Bank has restructured certain loan accounts at the request of its borrowers in sync with the RBI guidelines during 2008-09. The details of these accounts are as follows:

Directors' Report

Restructuring of Advance Accounts (Domestic) 2008-09 (Rs crore) CDR Mechanism Standard Advances Restructured Sub-standard Advances Restructured Doubtful Advances Restructured Total No. of Borrowers Amount Outstanding No. of Borrowers Amount Outstanding No. of Borrowers Amount Outstanding No. of Borrowers Amount Outstanding 3 199.91 1 16.70 0 0.00 4 216.61 SME Restructuring 6606 819.47 187 20.05 2 0.97 6795 840.50 Others 31600 1577.05 1985 23.66 41 0.74 33626 1601.45 Total

38209 2596.44 2173 60.41 43 1.72 40425 2658.56

Besides, in the International Operations, the Bank, during the course of the year 2008-09, undertook restructuring of 30 borrowal accounts involving an overall outstanding balance of Rs 366.15 crore. The Bank also initiated follow up actions for ensuring expeditious review of accounts, compliance of terms and conditions, up-gradation in credit rating etc. in high value advance accounts for improving the asset quality of Banks credit portfolio.

of India, Board and Audit Committee of the Board have become part of the Internal Control System for better risk management. The Central Inspection and Audit Division through ten zonal inspection centres carries out inspection of branches/offices as per the periodicity decided by the Audit Committee of Board and examines adherence to such systems of internal control and risk management (including various aspects such as KYC/AML etc.) The Regular Branch Inspection Report is the most comprehensive feedback to the Management about the degree of compliance of the Banks norms at the operational level and, hence, the most important tool for exercising control. The compliance is monitored through Rectification Certificate. All the branches are covered under the Risk Based Internal Audit. Assessment of level of risk and its directions is as per risk matrix prescribed by Reserve Bank of India which helps the Management in identifying areas of high risk requiring attention on priority basis. Position of the risk categorization of the branches is reviewed by Audit Committee of the Board on quarterly basis. Besides Regular Inspection of Branches, various other inspections are also carried out in Bank such as Inspection of Subsidiaries, Associates, Functional Departments at Corporate, Head Office, Training Centres, Administrative Offices [Overseas Branches are inspected through Banks Internal Auditors posted at those centres] and the Management Audit of the Controlling Offices of the Bank, its Subsidiaries and Regional Rural Banks (RRBs). In 2008-09, 2,374 Regular Branch inspections of the domestic branches were carried out by the Inspecting Officers attached

Economic Intelligence Unit

At the Corporate Office of the Bank, a specialized Economic Intelligence Unit supports the Top Management in critical areas like Business Strategy Formulation, Investor Relations and Credit and Market Risk Management. The Unit regularly provides the Top Management and the Banks various operational units a periodic outlook on key macro variables like industrial and infrastructural growth, inflation, interest rates, stock movement, credit deployment & resource mobilization of the banking industry, liquidity and exchange rates. The Unit also provides a full-fledged support to the Banks AssetLiability Management function. By providing better understanding of macroeconomic aspects, corporate sector, health and financial sector policies, this department supports the Banks efforts in tapping business opportunities and swiftly responding to market dynamics.

Internal Control Systems

The Bank has a well-established Central Inspection and Audit Division that examines the adherence to systems, policies and procedures of the Bank. The guidelines received on various issues of internal control from the RBI, Government

10

Directors' Report

to various Zonal Inspection Centres across the country. Around 447 inspections of overseas branches by the Internal Auditors posted overseas, besides Management audits were also carried out in UK operations, Gulf Countries and Fiji during the year 2008-09. The Concurrent Audit of the Bank covered 508 branches including Specialized Integrated Treasury Branch, which handles funds and investment management and FOREX dealing operations of the Bank. Central Inspection & Audit Division oversees the credit risk management through the Credit Audit. It covers large borrowal accounts both fund based and non fund based as per direction of RBI. This lending review mechanism enables timely checks so as to avoid accounts getting slipped into nonperforming and generates early warning signals. During the year 2008-09, 2020 large accounts were subjected to credit audit covering 63.54% of the outstanding advances. All the reports during the current year of the eligible accounts for credit audit have been attended to and closed after compliance/necessary directions to the concerned Zones. Concurrent Audit covers more than 63% of total business of the Bank besides 100% business of FOREX dealing and domestic investments. Central Inspection & Audit Division compiles Risk Profile Templates on quarterly basis as per the direction of RBI. As per Risk Profile Templates of the RBI, the Banks overall risk level is LOW and direction is STABLE. Central Inspection & Audit Division through its IS Audit Cell conducts IS Audit of select branches. It also undertakes Data Migration Audit of branches shifting to Core Banking Solutions (CBS) platform from the legacy system. The Bank conducted training programmes of its Inspecting Officers attached to Zonal Inspection Centres on Information Security Audit, Data Migration Audit and Risk Based Internal Audit during the year. Similar programmes were also conducted for the Concurrent Auditors for their updation. The agenda placed before Audit Committee of the Board for review includes total audit function of the Bank. The compliance of direction of Audit Committee of the Board is monitored through Action Taken Report (ATR) system. The compliance of direction received from the RBI and Government of India are placed before the Audit Committee of the Board for review.

Booklet for customers convenience to increase awareness amongst customers. The Bank implemented the directives of the Ministry of Finance, not to levy penalty to the Senior Citizens for not maintaining the minimum balance for the first time when the balance in their account goes below minimum balance requirement stipulated by the Bank. The Policy on Settlement of Claims in the account of the missing persons too was formulated and implemented in the Bank during 2008-09. Compliance The Bank adopted the standards set by the "Banking Codes and Standards Board of India" for widespread awareness about the code amongst the customers and its staff. The Bank arranged to provide BCSBI code to each customer. This was also put up on the Bank's website. The branches have started providing a copy of the Guidance Note on Deposits and Advances to the customers in the pamphlet form, while opening the new account. Customer Service Committees (i) Customer Service Committee of the Board The Bank has a sub-committee of Board for Customer Service. The Committee has the following members as on 31.03.2009: (i) (ii) (iii) (iv) Shri M.D. Mallya Shri V Santhanaraman Shri A. Somasundaram Chairman and Managing Director Executive Director Director

Shri Rajiv Kumar Bakshi Executive Director

The functions of the sub-committee of Board include suggesting and implementing innovative measures for enhancing the quality of customer service and improving the level of satisfaction for all the categories of clientele, at all times. The Committee also i. Oversees the functioning of the Standing Committee on Procedure and Performance Audit on Public Services and also the compliance with the recommendation of the Standing Committee on Customer Services. Reviews the status of the Awards remaining unimplemented for more than 3 months from the date of Awards and also the deficiencies in providing Banking services as observed by the Banking Ombudsman. Reviews the status of the number of deceased claims remaining pending / outstanding for settlement beyond 15 days pertaining to deceased depositors/locker hirers/ depositor of safe custody articles.

ii.

Operations and Services

Customer-centric Initiatives During the year 2008-09, the Bank introduced new account opening form for individual and non-individual for all deposit accounts and uniform pay-in-slip for customers convenience. The Bank also developed Guidance Note & Information

iii.

The details of the attendance of the meeting of 'Customer Service Committee of the Board' held on 21.05.2008,

11

Directors' Report

11.10.2008 and 26.03.2009 during the year-ended 31.03.2009 are as follows. Name of the Director Period Meetings held during the period of their tenure 3 3 2 1 3 Meetings attended

of Banks customers every half year. IND, New Delhi. The full KYC compliance entails Staff Education as well as Customer Education for which the following measures are taken by the Bank. on the Banks website (www.bankofbaroda.com) for the benefit of customers. posting reference material on KYC education. at the Banks Training establishments.

Shri M D Mallya 07.05.2008 to 31.03.2009 Shri V 01.04.2008 to Santhanaraman 31.03.2009 Shri S C Gupta 01.04.2008 to 05.11.2008 Shri Rajiv 06.11.2008 to Kumar Bakshi 31.03.2009 Shri A 01.04.2008 to Somasundaram 31.03.2009

3 3 2 1 3

(ii) Standing Committee on Customer Service Besides the Directors Sub Committee, the Bank has a Standing Committee on Procedures and Performance Audit on Customer Services (as per the RBI guidelines) which has four General Managers of the Bank and three other eminent public personalities as members. The Committee is chaired by the Executive Director of the Bank. This Committee is set up to focus on the inadequacy in banking services available to common people and looking into the need to (i) benchmark the current level of service, (ii) review the progress periodically, (iii) enhance the timeliness and quality, (iv) rationalize the processes taking into account technological developments, and (v) suggest appropriate incentives to facilitate change on an ongoing basis. Know Your Customer (KYC) and Anti-Money Laundering (AML) Measures The KYC-AML Policy of the Bank duly approved by the Board of Directors in terms of Prevention of Money Laundering Act, 2002 (PMLA) and Guidelines of RBI and Indian Banks Association is in place. The said Policy, which is the foundation of Banks implementation of KYC standards and AML Measures, was revised in March 2009, based upon the Master Circular of the RBI on the subject. The major highlights of KYC-AML implementation across the Bank constitutes electronically for submission to Financial Intelligence Unit (FIU), through the Computer System. based alerts. Transaction Reports (STR) to the Financial Intelligence Unit (FIU)

Officials/Executives at RBI, IBA and National Institute of Bank Management (NIBM). Banks Head Office for corporate oversight and also KYC Audit of branches.

Vigilance
The Bank, being a financial institution, has a special responsibility to the general public, to ensure safety of the hard earned money deposited/ invested by them. Bank of Baroda, over the years, has earned reputation that is synonymous with safety. Alertness, vigilance, due diligence and personal integrity are the traits of the Banks employees. The Bank has over a period of time evolved systems and procedures, which have stood the test of time. However, new and sophisticated types of frauds are being perpetrated by the miscreants taking advantage of the technology driven banking. To thwart such attempts, ongoing review of system and upgradation of the skills of our staff members are undertaken. As a result, there has been a sharp decrease in the amount involved in frauds reported during the year 200809 despite a quantum jump in the volume of business. It is noteworthy that with the extraordinary alertness and vigil displayed by the operating staff, 60 attempts of defrauding the Bank by unscrupulous elements were thwarted during the year 2008-09, which saved our Bank from substantial monetary losses. To bring about greater transparency in the procurement and tendering processes of the Bank, notice inviting tenders/details of tenders awarded by the Bank and summary of tenders/ contracts concluded are put on the Bank's website for widest possible publicity. The Bank has also implemented the on-line application and tracking status thereof in respect of housing and educational loans. With a view to introduce better security into the systems and to reassure the customers that they bank in a safe environment, the Vigilance machinery of the Bank is performing its role effectively.

12

Directors' Report

Business Performance
Given below are the details of the Banks major achievements on business front during 2008-09 Resource Mobilisation & Asset Expansion The share of Banks deposits in total resources stood at 84.60% as of 31st March 2009. The total deposits grew from Rs 1,52,034.13 crore to Rs 1,92,396.95 crore, reflecting a growth of 26.55% over the previous year. Of this, Savings Bank Deposits an important constituent of low cost deposits grew by 18.76% - from Rs 35,776.38 crore to Rs 42,487.28 crore. The share of low cost deposits (Current & Savings) in Total Global Deposits was at 29.59% and in Domestic Deposits at 34.87%. The banking industry as a whole witnessed a movement from low cost deposits to term deposits during the year, in view of sharp increase in the interest rates offered on term deposits during 2008-09. The Banks Global Advances expanded by 34.94% during 2008-09 led by 29.32% expansion in domestic advances and 56.3% expansion in overseas advances. It may be noted that expansion in overseas advances also factors in the impact of currency depreciation (of the order of 26.9% against the US dollar) during 2008-09. Composition of Funds Global Particulars End March 2008 (Rs crore) 1,52,034.13 1,22,479.35 29,554.77 3,927.05 End March 2009 (Rs crore) 1,92,396.95 1,51,408.99 40,987.96 5,636.08 Growth %

Within the Bank, the wholesale banking branches for large and mid corporates were set up separately to cater to the needs of the corporate world and are yielding desired results. With a view to improve and widen the clientele base, Fast Track desk was set up to attend to fresh proposals exclusively to expedite the sanction process and it is operating with good success rate. During the year 2008-09, fresh proposals with advances aggregating Rs 16,000 crore were sanctioned and we can proudly say that around 25-30 new customers/groups were added into the Banks fold. Furthermore, with a view to ensure better administration, monitoring and control and also for facilitating active involvement of Zonal Heads to canvass new business, the Banks CFS (Corporate Financial Service) Branches are advised to report to their respective Zonal Heads. Initiatives are also taken by the Banks executives at Corporate Office by visiting the CFS Branches/Zones periodically to support the team at the field to canvass new business and to facilitate faster credit decisions. Considering the importance of higher skill requirement in the fast changing environment, effective steps are being taken to groom a talent pool in the area of credit through extensive in-house training and by nominating them to external training establishments. Retail Business The Retail Business continued to be the thrust area for achieving business growth during the year 2008-09. For achieving sustained growth on both liabilities and asset side, the Bank initiated various customer centric measures besides launching special products. The Banks overall Retail Credit stood at Rs 19,627.55 crore as at the end of March 2009, registering the growth of Rs 2,735.23 crore over the previous year. The prime objective of the Bank during the period was to maintain or improve the quality of assets and to build a healthy retail loan portfolio. Therefore, the emphasis was laid on Baroda Car Loan and Mortgage Based Products viz. Baroda Home Loan, Baroda Traders Loan and Baroda Advance Against Property. In our quest to bring youth into the Banks fold, the thrust was also placed on Baroda Education Loan during the year. The Banks Home Loans increased by Rs 983.67 crore during the year, registering the growth of 13.51% over March, 2008. The Advance Against Mortgages, Education Loans and Car Loans achieved a spectacular growth of 31.47%, 32.67% and 51.24% respectively during the year ended March 2009. It has always been the endeavour of our Bank to review the norms and features of all existing products on an ongoing basis and modify, wherever required, to suit the changing needs of the customers. The new products have also been launched during the year to cater to the needs of different segments of society as well as our clientele.

Deposits - Domestic - Overseas Borrowings

26.55 23.62 38.68 43.52

Global Advances Particulars End March 2008 (Rs crore) 1,06,701.32 84,503.30 22,198.02 End March 2009 (Rs crore) 1,43,985.90 1,09,283.00 34,702.90 Growth %

Advances - Domestic - Overseas

34.94 29.32 56.33

Wholesale Banking Within India, the Wholesale Banking Business has emerged as one of the most competitive business segments due to aggressive role being played by large private and foreign banks during the recent years. Considering the fact that half of our Banks lending business is generated from wholesale banking, the Bank has proactively adopted strategies from time to time to penetrate into this segment with a different kind of business model, service standards, faster response and better accessibility.

13

Directors' Report

of Documentation and Processing charges were allowed on Housing Loans and Car Loans. The fresh business of Rs 347.67 crore was mobilized (including the business of Rs 126.63 crore under the Car Loans) during the campaign period. 2. Under the Savings Bank segment, two Savings Deposit Campaigns were organized. The first campaign was organized from 9 June 2008 to 2 August, 2008 during which the total savings deposits of Rs 2,212 crore were mobilized against the target of Rs 1,500 crore. Similarly, during the second campaign organized from 2 February 2009 to 31 March 2009, the total deposit of Rs 2,195 crore was mobilized against the set target of Rs 2,000 Crore.

Structural Changes Shri M.D. Mallya, CMD is seen inaugurating the first Composite Loan Factory at Mangalore. New Retail Products The Bank launched the following new loan products during the year 2008-09. 1. 2. Loan for Earnest Money Deposit: An asset product for booking of house /flat or plot Baroda Additional Assured Advance to NRIs: This facility was already available to Resident Indians, which has now been extended to non-resident Indians (NRIs) also. Baroda Bachat Mitra: An overdraft facility in Savings Bank accounts against the security of the pledge of FDRs. Baroda Car Loan to HNIs/Corporates: A Car Loan product with maximum limit of Rs 100 lakh for High Networth Individuals (HNIs)/Corporates for use of vehicle exclusively by the Directors /Executives of the company. Baroda Advance Against Gold Ornaments/Jewelry/ Gold Coins (launched on pilot basis) for meeting business/ personal expenses of the individuals. Special Home Loans package has been introduced with certain concessions and free life insurance cover to the borrowers. 2. 1. In order to strengthen the Retail Credit Delivery System, the Bank opened eight new Urban Retail Loan Factories (URLFs) at Powai Mumbai, Agra, Bareilly, Bhopal, Nagpur, Ernakulam, Jodhpur, and Noida during the year 2008-09 thus raising the total URLFs to 23. Gen-Next Branches: The concept of Gen-Next branches for focusing the youth segment was launched during 2007-08 and two Gen-next branches were opened during 2007-08. Three more Gen-next branches have been opened during the year 2008-09, taking the total to five Gen-Next branches. These Branches are equipped with modern gadgets, ambience and all other facilities, which a youth requires in todays modern era.

3.

Other Initiatives 1. With a view to control the delinquencies in Home Loans and other Mortgage-based Loans, measures have been taken with regard to the eligibility and margin norms and the Zones/ Regions have been advised to discourage deviations from extant guidelines. For boosting up Auto Loan portfolio, the memorandums of understanding (MoUs) have been signed with number of car manufacturing companies viz. Maruti Suzuki India Ltd, Tata Motors Ltd, Hyundai Motors India Ltd and Mahindra & Mahindra Ltd. during the year 2008-09. The Tie-up arrangements have been made with

4.

5.

2.

6.

3.

Product Modification 1. Margin norms in Home Loans have been modified with a view to control the delinquencies in Home loans and other mortgaged based loans and zones/regions were advised to discourage deviation from the set guidelines. The eligibility for availing Additional Assured Advance (AAA) has been increased from three times to five times during the entire tenure of a Housing Loan. Realignment of Retail Loan products by reducing it to nine major products from the hitherto 26 products.

2.

3.

Campaigns Organized 1. A Retail Loan Festival Campaign was launched from 1 October 2008 to 9 November 2008 and the concessions of 0.25% in interest rate and 100% waiver Exchange of MoU documents with Maruti Suzuki for Car Finance in the presence of CMD & ED.

14

Directors' Report

M/s Kotak Mahindra Old Mutual Life Insurance Ltd for providing Life Insurance Cover to Education Loan borrowers and Home Loan borrowers sanctioned under a special package. 4. The sale of Gold Coins was launched as a new initiative during the year 2007-08 to augment non-fund based income. During the year 2008-09, total income of Rs 4.55 Crore has been generated by Sale of Gold Coins through 354 Point of sales (POS). The online Home Loan application facility has been made available with tracking of status of the application from 20 July, 2008.

5.

Wealth Management Services The Bank as a part of its customer centric measures initiated Wealth Management Services to provide its High Net Worth (HNI) and affluent customers a total financial solution at one place since June 2004. Under Wealth Management Services, the Bank presently provides through the network of its branches various three party products in Life Insurance, Non Life Insurance including Health Insurance, Mutual Funds & Equity Trading under tie-up arrangements through different partners. The tie-up partners in these products are HDFC Standard Life Insurance Co. Ltd. in Life Insurance, National Insurance Company Ltd. in General Insurance, India Infoline Ltd. in e-trading and six leading Asset Management Companies including our joint venture Baroda Pioneer Asset Management Co. Ltd. in Mutual Fund products. The Bank has also established Baroda Gold Lounge in 13 select strategically located branches which are distinct dedicated spaces to provide par excellence investment advisory services to HNI customers of the Bank. The initiatives of the Bank under the Wealth Management Services have been encouragingly contributing to non-interest income of the Bank. SME Business In India, the SME (small & medium enterprises) sector is the biggest provider of employment next to Agriculture. The official statistics shows that SMEs constitute 95.0% of total industrial units and contribute 40.0% to total industrial output. They manufacture more than 8,000 products in various sectors like pharmaceuticals, garments, textiles, auto ancillary, jewellery and software. The contribution of services sector within the SME segment is quite significant; especially IT enabled services, hospitality services, tourism, couriering, transportation, etc. SMEs are playing a vital role in the job creation process. The Bank has always been a forerunner in the development of small-scale enterprises and has formulated liberal and comprehensive SME Loan Policy for its SME customers. Furthermore, to give a focused attention to emerging SMEs in India, the Bank has been considering other commercial units also with a turnover up to Rs 100 crore at par with the SMEs.

To promote the growth of SME Sector, the Bank has launched a special and novel delivery model, viz. SME Loan Factory, which is presently functioning in 34 centres of the Bank and is well accepted in the market. The SME Loan Factory is an innovative model for streamlining processes and for timely sanctions of SME loan proposals. The model comprises of the Central Processing Cell for speedy appraisal and sanctioning of proposals within the stipulated deadline. A team of Relationship Managers stationed at different branches of the Bank spread over micro segments of the city reaches out to customers to facilitate completion of pre-sanction formalities in a hassle free manner. The Relationship Managers would also be marketing, not only various SME products of the Bank, but also other products and services including the Third Party products like Life Insurance, Mutual Funds, Equity Trading, etc. The above model operates on an assembly-line principle with simplified processes using latest technology and inhouse, skilled and trained man-power. Out of 34 SME Loan Factories as on 31.3.2009, seven SME Loan Factories have been established during the year. The Bank has SME Loan Factories at all major business centres across the country, viz. Agra, Ahmedabad, Bangalore, Baroda, Bhilwara, Bhubhaneshwar, Bulsar, Chennai, Coimbatore, Dehradun, two factories in Delhi, Hyderabad, Indore, Jaipur, Jamshedpur, Jamnagar, Jodhpur, Kanpur, Kolhapur, Kolkata, Lucknow, Ludhaina, three factories in Mumbai, Nagpur, Nashik, Noida, Pune, Rajkot, Raipur, Surat, Vishakhapatnam. These SME Loan Factories sanctioned loans aggregating Rs 8,508 crore during the year ended March, 2009 as against Rs 5,956 crore in the previous year. The Bank has planned to establish six more SME Loan Factories during the year 2009-10. SME Credit Growth Total outstanding in SME Sector works out to Rs 14,662 crore as on 31.3.2009 as per the regulatory definition. Growth in the Banks lending to the SME sector during the last three years is as follows. Financial Year 2006-07 2007-08 2008-09 % Growth 31.40% 31.11% 24.18%

New Initiatives in the SME Business in 2008-09 manufacturers for financing their dealers/road transport operators desirous of purchasing their vehicles. collateral free loans up to Rs 100 lacs under Risk Sharing Facility scheme launched by CGTMSE.

15

Directors' Report

and total business of more than Rs 14,000 crore as of March 2009. Performance of Priority Sector Lending in 2008-09 Priority Sector Advances of the Bank surged from Rs 31,681 crore as at the end-March 2008 to Rs 39,239.08 crore as at the end-March 2009 and formed 46.43% of the Adjusted Net Bank Credit (ANBC) against the mandated target of 40%. The Agriculture Advances of the Bank recorded a growth of 28.0% over the previous year and rose to Rs 16,964 crore as at end-March 2009. Under its flagship agriculture loan product Baroda Kisan Credit Card, the Bank issued as many as 1,78,442 Credit Cards during 2008-09 to provide credit to farmers. The Bank has financed as many as 2,11,948 new farmers during the year 2008-09. As a part of its microfinance initiatives, the Bank credit linked 19,120 Self Help Groups with an amount of Rs 17 crore during 2008-09, thereby taking the total number of SHGs credit linked to 90,731 amounting to Rs 606 crore. Business and Social Initiatives products to suit the local cluster needs. to enlighten them about various products, services and precautionary steps to be taken in view of global financial crisis. to assist the borrowers under stress due to global recession. with Institute of Business Management of repute for familiarizing the SME customers with current trends in business areas. of Economic Times, which is expected to give popularity to various products designed for SME Sector and boost our SME business. Rural and Agricultural Lending The Bank is also a frontrunner in the area of Priority Sector and Agriculture lending, harnessing the vast potential of the rural market through its wide network of 1,100 rural branches and 649 semi-urban branches. The Bank has opened 30 new branches in rural and semi-urban areas during the year 200809. The Bank is the convener of State Level Bankers Committee (SLBC) in UP and Rajasthan. The Bank has Lead Bank Responsibility in 44 districts in the states of Gujarat (12), Rajasthan (12), Uttar Pradesh (14), Uttaranchal (2), Madhya Pradesh (2) and Bihar (2). The Bank has sponsored five Regional Rural Banks (RRBs) in various states with a branch network of 1,201 branches The Bank introduced various initiatives/strategies during 2008-09 to harness the emerging opportunities for rural and agricultural lending as follows. To augment the agricultural advances, the Bank conducted special campaigns viz. Kharif campaign for Crop Loans and Investment Credit Campaign disbursing Rs 1,364.77 crore and Rs 855.58 crore respectively. The Bank organized 2,702 Village Level Credit Camps and disbursed Rs 1,708.86 crore to 1,42,351 borrowers during 2008-09. The Bank has identified 350 Thrust Branches across India to enhance Agriculture lending which constituted 32% of total agricultural lending as at end-March 2009. The Bank formulated various area-specific schemes tailormade to the needs of local requirements, particularly where there is a concentration of industries like Rice Mills, Cold

Exchange of MoU documents with CGTMSE for financing under Risk Sharing Facility Scheme in the the presence of CMD & ED. financing under the scheme, viz. Trade Related Entrepreneurship Assistance and Development (TREAD) for economic empowerment of women.

Shri M.D. Mallya, CMD is seen presiding over the meeting of SLBC U.P. at Lucknow. Officials of State Govt./RBI also seen on dias.

16

Directors' Report

storages, Poultry units, etc. The suitable concessions in rate of interest, charges were allowed under these schemes to garner maximum business outsmarting competition. As many as 18 area-specific schemes were formulated to increase the agricultural lending. Towards effective use of technology in rural & agricultural lending, the Bank has introduced IT enabled smart card based technology for financial inclusion. At present, the smart card based financial inclusion is being implemented at Raibareli and Sultanpur districts of Uttar Pradesh on pilot basis. So far 18,000 smart cards have been issued. Currently, Bank has 262 ATMs in Rural and Semi-urban areas and 225 rural branches and 525 semi-urban branches are under Core Banking Solution. The Bank co-sponsored the Bhimthadi Jatra, a state level exhibition for women SHG products, held at Pune in November 2008, which was inaugurated by Honble Minister of Agriculture, Shri. Sharad Pawar. In all, 1,359 SHGs exhibited their products and generated sales revenue of Rs 288 lacs during the exibition. Around 50 SHGs of our Bank from the state of Maharashtra participated in the exhibition. The Bank has adopted Dungarpur district (Rajasthan) which is primarily a tribal district and one of the most backward districts in the country, for total integrated rural development and 100% financial inclusion towards its Corporate Social Responsibility. The project was launched on 1st October 2007. The Bank has already achieved 100% financial inclusion in Dungarpur district. So far credit of Rs 21.81 crore to 10,720 borrowers is disbursed for Dairy Development, Cultivation of High Value Crops, Vegetable cultivation, etc. Various other developmental activities like training, scholarships to girl students etc. are also being done under the project. The Bank has adopted 101 villages (101 Baroda Centenary Year Villages) for total integrated development spread over three years and 100% financial inclusion. The Bank has also provided social infrastructure like solar lamps, bus stand shelters, hand pumps, community halls etc. in 55 villages by giving grant of Rs 45.84 lacs. The Bank has allocated Rs 2

crore for this purpose. Baroda Grameen Paramarsh Kendra (BGPK) - an initiative undertaken by the Bank to help the rural community by providing Credit Counseling, financial literacy and other services like information on the prices of agricultural produces, scientific farming, etc. The Bank has established 52 BGPKs as on 31.03.2009. With four additional Baroda Swarojgar Vikas Sansthan (BSVS) centers opened during 2008-09, the total number of BSVS has gone up to 16. The BSVS in Raebareli and Ajmer are exclusively meant for women entrepreneurs. The BSVS are the institutes for training the youth and imparting knowledge and skills required for taking up self-employment ventures. During 2008-09, 8,274 youth beneficiaries have been trained out of which 4,762 have established selfemployment ventures. Out of the total 21,039 beneficiaries trained by these centers so far, 11,569 have established their self-employment ventures. The Bank has initiated various measures to achieve Financial Inclusion. The Bank had adopted 500 villages for 100% Financial Inclusion, and this has already been achieved in all 500 villages. The Bank has also achieved 100% financial inclusion in 12 of its lead districts i.e. Dungarpur (Rajasthan), Pratapgarh, Raibarely, Fathepur, Rampur, Sultanpur (U.P.) Nainital, Udamsinghnagar Districts (Uttarakhand,) Dang, Dohad Panchmahal districts (Gujarat) and Shivher (Bihar). Besides, the Bank has achieved 100% financial inclusion in 10,000 villages in various districts identified by State Level Bankers Committee (SLBC). The Business Facilitators Model too has been implemented across the country to accelerate financial inclusion of the excluded segment as well as to augment agricultural portfolio. Business Facilitators will mainly canvass loan applications for the Bank for which the Bank will pay them compensation. Individuals including retired Bank and Government staff, NGOs, Farmers clubs and SHGs are engaged as agents to improve our outreach in the rural and semi-urban areas. The Bank has so far engaged 49 business facilitators.

Chairman and Managing Director Shri M.D. Mallya is seen distributing the relief cheque to one of the beneficiaries of Agriculture Debt Waiver and Credit Relief Scheme, in a function held at Theur, Pune, in the presence of huge gathering of beneficiaries.

17

Directors' Report

The Bank also signed MoUs with CmF (Centre for Microfinance) to focus on skill upgradation for Micro Finance activities for rural and agricultural business and formation of quality Farmers Clubs, Self Help Groups and providing special training to them through the CmF. Performance of RRBs sponsored by the Bank The Bank has Sponsored five RRBs (Regional Rural Banks) as under. Raebareli.

growth momentum and register impressive growth in all the operational parameters. This was possible on account of the vast experience of working in different economies around the World, good asset-liability management and the Banks sound business practices. Also, the international operations were not impacted much by the liquidity crisis given the Banks limited dependence on short-term resources. All the centres of the Bank are well capitalized and have broad based depositor base for raising resources. The customer base of the Bank comprises not only of Indian Corporates, Non Resident Indians and Persons of Indian Origin but also the local ethnic population of countries where it is operating. However, the crisis did impact the growth of Syndicated Loans as Indian Corporates moderated their overseas Merger & Acquisition activities and capacity expansion plans. During the year 2008-09, the Bank strengthened its international operations by posting additional experienced staff to overseas branches. The additional staff was primarily posted in the marketing, IT and risk management divisions of the overseas territories. The local staff of overseas branches was also provided in-house training and sent to external institutions for development of skills. The Bank continued with its overseas expansion plans during the year and opened four new branches/offices (including that of its Subsidiaries).The steps were initiated for opening of branches at various other centers, which are at different stages of approval. During this year, the Bank also initiated Targeted Publicity through print and electronic media for enhancing visibility and canvassing business. Business & Profit Performance During the year 2008-09, the Total Business (Deposits + Advances) of the Banks overseas branches registered a growth of 46.23%. The Customer Deposits increased by 56.03%, Total Deposits by 38.68% and Advances increased by 56.22%. The International Operations contributed 22.55% to Banks global business as on 31.03.2009. As stated earlier, the growth numbers in international business expansion partly reflect the impact of currency depreciation. Total Assets Total assets of international operations increased from Rs 37,511 crore to Rs 51,165 crore registering a growth of 36.40% over the previous year. Net Profit The Net Profit of International Operations during the year increased by 23.17% (y-o-y). This is in spite of the huge requirement of provisioning due to Mark to Market of Investments. The Bank does not have exposure to subprime assets. Also, its exposure to Derivatives is only by way of investments in Credit Linked Notes (CLNs) of Indian Corporates of repute and where it is confident of the underlying credit quality. The investments have been Marked to Market based on Issuers/Traders Quotes, as impact was felt on valuation as markets were quoting two way quotes

Haldwani. Jhabua. The aggregate business of these five RRBs rose to Rs 14,278.28 crore as of end-March, 2009 from Rs 11,999.70 crore as at end-March, 2008, registering a growth of 18.99% (y-o-y). These five RRBs together posted a net profit of Rs 103.32 crore during 2008-09 as against Rs 49.99 crore earned during 2007-08. The "Net Worth" and the "Reserves and Surplus" of all these RRBs together improved from Rs 325.22 crore at end-March, 2008 to Rs 490.19 crore as at end-March, 2009 and from Rs 208.69 crore as at end-March, 2008 to Rs 272.35 crore as at end-March, 2009 respectively. International Business The year 2008-09 was a difficult period for overseas business growth with worsening global environment on account of the economic meltdown and the resultant liquidity crunch. While registering growth, the challenge was to maintain liquidity, improve quality of assets, maintain healthy growth in profits and control the delinquencies. However, even during this turbulent period, the Bank could maintain the

Cake cutting ceremony graced by the dignitaries and CE (GCC) on the occasion of 101st Foundation Day of the Bank at Dubai.

18

Directors' Report

at wide variance. The provisioning made by the Bank in the current year is on account of a decline in present value and is likely to get reversed on maturity of the investments. The contribution of international operations to the Banks global Net Profit moderated to 18.86% in 2008-09. Asset Quality The Bank did not venture into complex CDOs (Collateralised Debt Obligations) and participated in CLNs (Credit-linked Notes) in a very modest way and that too of Indian Corporates and was, therefore, not impacted severely by the current crisis. The Bank further strengthened monitoring of assets for containing slippages and intensified the recovery efforts in NPA accounts and was able to bring down the ratio of Gross NPAs to Total Advances in its international operations during 2008-09. The Gross NPAs came down to 0.51% of total advances as against 0.55% during the previous year. The Net NPAs were maintained at almost zero level. International Presence The Banks international presence covers 25 countries through its 74 branches/offices: Banks Overseas Branches Banks Representative Offices Branches of Banks Overseas Subsidiaries 48 03 23

Indian Corporates/PIOs/NRIs spread around the world. The applications filed with home country regulators for opening of branches in Russia, Canada, New Zealand, Australia, Qatar and Mozambique are under process. The Bank also has plans to further expand its branch network in UAE, Oman, UK, USA, Trinidad & Tobago, Uganda, Kenya, etc. to take advantage of the emerging opportunities. Opening of branches at Malaysia, Suriname, Yemen, Kuwait, Saudi Arabia, Maldives, etc., is also under process.

TOTAL 74 In addition to the above, the Banks associate in Zambia has 11 branches. Overseas Expansion During the year 2008-09, the Bank opened four new branches/ offices, viz. Branch at Guangzhou (China), Electronic Banking Unit at Musaffah (UAE) and branches of the Subsidiaries at Kawempe (Uganda) and Nakuru (Kenya).

Mr Hassan Noor, E.B.S. Provincial Commissioner, Rift Valley Province (Kenya) is seen inaugurating the Nakuru branch at Kenya in the the presence of CMD. Syndication Center The Bank has Global Syndication Centers at London and Dubai, which are supported by International Merchant Banking Cell (IMBC) - at International Division, Mumbai. These focus on the business of Syndicated Loans and CLNs. The Offshore Banking Unit in Singapore is also quite active in canvassing this business and the Bank has plans to set up Global Syndication Centre in the country to take advantage of the emerging opportunities. Products and Services in Overseas Business With the implementation of Core Banking Solution at all the overseas centres except New York and Brussels, the strategy was to take maximum advantage of the State-ofthe-Art Technology and provide Products and Services to customers, which are comparable with those offered by other International Banks. With the availability of the system the Bank launched various new products and services and enhanced the features of existing schemes to make these in line with the center-specific schemes. Technology Upgradation in Overseas Business The Bank has taken various technology initiatives to better serve its overseas customers. These are as follows. Implementation of Global Treasury Project at UK, UAE, Bahamas and Bahrain. Launching of view based e-banking at UAE, Oman, Fiji, Mauritius, Seychelles,Botswana and Tanzania. For

Prof. Emmanuel Tumuslime Mutebile, Governor, Bank of Uganda is seen inaugurating the Kawempe branch at Uganda in the presence of CMD & ED. Future Plans The Bank has ambitious plans for further increasing the branch network to take advantage of canvassing business from different geographies around the world and serve the

19

Directors' Report

other centres the process is underway. Additional ATMs have been installed to provide round the clock services to customers. Installation of Full functional ATMs in UAE is under process. Rapid Funds2 India, an on-line Remittance product, has been introduced at almost all the overseas centres. Payment Messaging Solution introduced at Mauritius, Seychelles, South Africa, Botswana and Kenya. AML ERASE and Online List Match Solutions implemented in -14- overseas territories and all the -7overseas subsidiaries.

into further large write-downs by the worlds major banks. There was a liquidity crisis in the corporate bond markets across the Globe, as the investors became more risk averse. Concerted steps had been taken by many developed and developing countries in the form of not only increased funding limits but directly infusing capital into banks to safeguard the financial systems from total collapse. The Rate Cuts have become a norm among Central Banks to restore confidence. The Indian Bond markets saw yields moving up sharply during the first half year on concerns over rising inflation triggered by spike in oil prices. During the period April to August 2008, inflation continued to move upward and touched the high of 12.63% mainly due to high crude oil and commodity prices. The RBI also remained hawkish and raised the key rates to calm inflation expectations. The bond yields reacted to the same and the 10-year benchmark yield touched 9.54% in the month of July 2008 from 7.93% as on 31st March 2008. The interest rate showed signs of moderating during the months of October-November 2008, when inflation started coming down as a result of the softening of global crude oil prices and the RBIs monetary easing. However, during the second half the F.Y. 2009, the markets remained volatile. Fears of the impending recession in the US due to the sub prime crisis led to Fed slashing its benchmark rate. The cut in fed rates and monetary easing by RBI brought a rally in the bonds market and the yields softened sharply. The RBI cut its repo rate from 9.00% in September 2008 to 4.75% on 21st April 2009. The 10-year yield moved down from 8.63% in September 2008 to 5.31% in December 2008. However, yields could not sustain at the lower levels for longer period on additional borrowing in the last quarter and record-borrowing programme for the year 2009-10. It closed at 7.01% on 31st March 2009. The inflation for the week ended 28th March 2009 was 0.26%. The RBI continued to actively manage the borrowing programme through its open market operations. The corporate bond markets saw the spread widening vis-vis the comparable government securities. In order to protect the portfolio, the Bank shifted SLR securities from AFS to HTM at the start of the year. However, looking to the overall economic strengths of India and having doubts about the sustainability of high interest rates for a longer term, the Banks Treasury Division started accumulating long-term Government securities when yield on these bonds were ranging 9.25% to 9.50%. The aggressive accumulation was achieved by replacing T-bills, some short tenor securities and also by increasing the size and duration of the portfolio. The Bank also received fixed on OIS and INBMK. The above strategy resulted into huge profits when yields started coming down. The accumulated long dated Government bonds fetched us maximum return during the short span of time. In addition, these profits could be generated

Banks NRI Business In order to serve the expatriate Indian population and also canvass business for its Indian branches, the Bank took various steps for further improving its products and services. The motto was to provide low cost and fast remittance services to the customers. Besides popularizing online RTGS/NEFT remittance facility, the Bank offers services close to their doorsteps through mobile vans, visits to Indian dominated localities, extension of working hours suitable to the working population etc. The Rapid Funds 2 India was extended to new centres and, in addition, the Bank launched ClickFunds2India at U.K. To further extend its reach, the Bank has tied up with Exchange Houses for remittances. It is already made operational with seven Exchange Houses and the process is underway for increasing it. Risk Management in Overseas Business Risk management architecture in the financial sector has assumed greater significance in view of the increasing volumes and complexities of financial transactions. The global financial crisis too underscores the need for sound risk management, effective internal controls and strong corporate governance in financial institutions. In order to comply with BASEL II requirements and integration of data of all the overseas territories as also to comply with the Regulatory Norms on Credit Deployment, Asset Quality, Provisioning and computation of Risk Weighted Assets, the Bank plans to implement the ASCROM (Asset Classification & Credit Monitoring) System in all its overseas territories in a phased manner. The Solution will be customised as per the territory-specific requirements to compute Risk Weighted Asset (RWA) as per the Host and Home country norms and to generate Global RWA master summary as per the Bank's Policy. The introduction of ASCROM will be helpful for other MIS purposes and Credit Monitoring. Regulatory Compliance in Overseas Business The Bank always strictly follows the home country regulations and ensures that there is no violation on this account. The Bank has built up a reputation of being a regulatory-compliant bank and a good corporate citizen in all its overseas operations. Treasury Operations The financial year 2008-09 experienced huge volatility in financial markets across various asset classes. The financial crisis in the form of spiral effect of sub prime collapse resulted

20

Directors' Report

without sacrificing the yield on existing portfolio. To further encash the opportunity of lower interest rates, the Treasury Division reduced duration of the portfolio by selling longterm bonds and paid fixed on OIS and INBMK. Besides, the Treasury Division continued to actively encash the arbitrage opportunities available between Money market, CBLO, G-sec and resources generated through USD/INR swaps. The Equity Market witnessed high volatility and downward trend during the year. The benchmark Sensex, which was 15,644 on 31st March 2008, moved sharply downward and touched a low of 7,697 levels on 27th October 2008 on the concern of global economic recession. The financial stimulus packages announced by the US and European Governments to contain the economic recession started showing positive impact on global economy and in turn, impacted positively the global equity market. Indian market also showed recovery and Sensex closed at 9,708 levels on 31st March 2009. The operation at the Equity Desk of the Bank remained subdued. However, active operation has started after the stability of the market and we now expect to earn substantial income through prudent market operations. In the foreign exchange market, Indian rupee depreciated by 26.44% against US Dollar during the year. It moved from Rs 40.12 per USD to Rs 50.73 per USD mainly on account of huge outflows of foreign capital during the year. It oscillated between a low of Rs 39.97 and a high of Rs 52.18 against US Dollar. The Banks integrated Treasury continued to be a prominent market maker in USD/INR, EUR/USD & GBP/USD. The Forex market remained very volatile, during the year, due to spiral effect of sub prime crisis across all Financial Centres. The Banks Foreign Exchange Dealing Room has been able to encash the volatility and earned good profit for the Bank. State-of-the-Art Dealing Room of the Bank at Mumbai handles the entire gamut of foreign exchange transactions and derivative products. The advanced technology environment is being leveraged by the Bank to offer a variety of products to its clients by way of hedging instruments such as Interest Rate Swaps, Currency Swaps and Options. Through the Automated Dealing System, the Bank quotes auto generated real time foreign exchange rates to its customers at all authorized branches in India, thereby, providing them the feel of the real time market. As part of its business reengineering, the Bank is in the process of implementing Global Treasury Solution across main money centers. It has been already implemented successfully in London, Dubai, Bahrain & Bahamas. The rollout for other centers is in progress. When implemented, the Bank will have better Global Risk Management set-up and can achieve optimum deployment of resources. The Bank has set up an active Derivative desk at its Treasury Branch, which offers customized products to meet the requirement of corporates in hedging their interest rate and currency risks.

A full-fledged Mid-office in Treasury Division monitors and manages various exposures and limits fixed by the Board of Directors on real time basis, using advanced technology. The Risk Management Tool such as Value at Risk (VaR) is used to measure the Market risk on all portfolios. Furthermore, the back testing of VaR number is conducted on daily basis to confirm the veracity of the forecasted values. The Stress Testing of all portfolios is also done to complement the VaR analysis. Corporate Social Responsibility (CSR) The Bank has always believed in making a difference to society at large. As a responsible corporate citizen, it has been its vision to empower the community through socio-economic development of underprivileged and weaker sections. During the year 2008-09, the Bank further intensified its efforts in this direction. Most of the Banks social activities are linked to rural masses, i.e., adoption of 101 villages across India for their all-around development and providing financial assistance for development of infrastructure facilities like setting up village libraries, community hall and solar lighting systems in villages. The Bank has also established Swarozgar Vikas Sansthan for imparting training to unemployed youth, free of cost for gainful self employment and entrepreneurship skill development which help them improve their family economic status and also gives a boost to the local economy in those locations. The Bank has established 52 Baroda Gramin Paramarsh

Bank participated in Mumbai Marathon 2009 as a part of its commitment to Corporate Social Responsibilites.

Kendra for providing credit counseling and financial literacy for rural masses across country. The Bank coordinates its CSR activities with its Micro-finance and Self-Help Group (SHG) financing. The Bank has developed relationships with 91,536 SHG and has extended credit facilities of Rs 636.00 crore through SHGs, whereby million of households have been beneficiaries of financial inclusion. The Bank has also adopted Dungarpur District in Rajasthan for total integrated rural development and 100% financial inclusion as described in the earlier section.

21

Directors' Report

The Banks NPA coverage ratio reached a comfortable level of 75.52%.The slippages were reduced and contained at 0.95% of the Opening Standard Advances of the year as against 1.21% during 2007-08. The aggressive and focused efforts in Recovery and NPA Management could result in the recovery of Rs 567.19 crore in NPA. Moreover, accounts worth Rs 168.20 crore were upgraded during this relatively challenging year. It is pertinent to note that the Recovery in the Prudentially Written Off accounts amounted to Rs 263.15 crore during the current year, which added to the Banks bottomline (profits) directly. Other recovery measures undertaken by the Bank during 2008-09 included launching of SANKALP recovery scheme on 21.11.2008, with a focused approach for recovery in small advance accounts with an outstanding up to Rs 10.00 lacs and the Bank could recover Rs 63.09 crore by way of this campaign. Technology Environment The Bank had embarked on an IT enabled Business Transformation Project in 2005-06 to reposition itself in an intensely competitive banking environment. The Project envisaged a host of applications to be implemented in the Bank over a five-year period ending March 2010, which would help the Bank to transform itself into a customer-centric organization and reduce the cost of its services. To support the Integrated Business Transformation project, the Bank set up its own State-of-the-Art Data Centre on 10th December 2005 conforming to Uptime Institute Tier-3 standard. The Bank also established a 1:1 Disaster Recovery Site taking into account international requirements of 500 km distance and different seismic zone. Technology Progress in 2008-09 As of 31st March 2009, 1,922 branches and 28 Extension Counters in India are on CBS. This covers more than 1000 centers in 34 states/union territories and approximately 94% of Banks domestic business. Additionally, 43 branches in 12 overseas countries and 23 branches in 7 overseas subsidiaries are on Finacle CBS. The overseas branches on CBS account for about 79% of total overseas business. The implementation of CBS and other centralized applications requires a robust Wide Area Network (WAN) with adequate redundancy built in at every layer. Bank has connected more than 2300 branches/offices on its wide area network with an assured uptime of more than 99.9%. The Bank has launched full-fledged transaction-enabled Internet Banking in India, for both Retail and Corporate customers. Through this platform, customers have the facility to pay both Direct and Indirect Taxes online, make payment of utility bills and also book rail tickets. Customers can transfer funds from one account to another account within the Bank. Customers can also avail of the services for inter-bank transfer of funds through Internet Banking using NEFT

Ms Kiran Bedi, renowned social worker flagging off the Medical Van donated by the Bank to Navjyoti India Foundation, Delhi in the presence of GM(NZ). The Bank has adopted the best management practices towards its social responsibilities and contribution to the society for abatement of Green House Gas emission by financing projects, which use renewal energy sources as main feedstock i.e. windmill, hydel power, bagasse based power projects, solar etc. which are entitled for carbon credits. Asset Quality Management The Bank delivered a stellar performance in asset quality management in 2008-09 despite a severe industrial slowdown witnessed in the second half of the year. Through well coordinated and sustained efforts, the Banks Global Gross NPA level was brought down from 1.84% to 1.27% and the Net NPA level from 0.47% to 0.31% in the course of one year. It is worth reporting that not only the Gross NPA and Net NPA were brought down in percentage terms but were also reduced in absolute terms to Rs 1,842.92 crore and Rs 451.15 crore as at end-March, 2009 from the opening portfolio of Rs 1,981.38 crore and Rs 493.55 crore respectively. During the year 2008-09, the Asset Quality further improved with the rise in the share of standard advances from 98.16% at the end of the previous year to the present level of 98.73% as per the table given below. Advance Category (Gross) 31st March 2009 31st March 2008

Amount (Rs cr) Standard Loss Doubtful Sub-standard Gross NPA TOTAL 143001.94 345.34 832.32 665.26 1842.92 144844.86

% to total

Amount (Rs cr) 366.12 887.65 727.61 1981.38

% to total 98.16 0.34 0.82 0.68 1.84 100.00

98.73 105690.44 0.24 0.57 0.46 1.27

100.00 107671.82

22

Directors' Report

/RTGS. Corporates also have the facility of direct salary uploads. The internet banking customers in India are also provided SMS alerts facility. Internet Banking has also been launched in 7 overseas territories, viz., Botswana, Fiji, Mauritius, UAE, Oman, Seychelles and Tanzania. The Bank has recently launched one more delivery channel, Phone Banking facility, for our customers. This facility enables customers to get Banks products information, enquire balances in their account, status of cheques, order statement of account through fax or e-mail etc. All CBS branches of the Bank are enabled for inter bank remittances through RTGS and NEFT. RTGS and NEFT has also been interfaced with our internet banking portal. This will give our customers the facility of making inter bank money transfers online using internet banking. An online money transfer service - Rapid Funds2India has been enabled in our branches of UAE, Oman, UK, Mauritius, Seychelles, Botswana, HongKong, Fiji, Ghana, Kenya, Guyana, South Africa, Tanzania, Uganda and Trinidad & Tobago. NRIs in these territories can avail of this service which facilitates almost instant credit to the beneficiarys accounts in any CBS branch in India. Where they maintain accounts with other banks, same day or next day credit is facilitated through RTGS / NEFT. Corporate Cash Management has been launched in December 2008 in Mumbai. This service enables our corporate customers to manage their funds efficiently through bulk payment services, local/out-station fund collection (paper based or electronic) and liquidity through fund pooling facility. has been implemented for all domestic ATMs and for ATMs in 5 overseas territories. This new ATM Switch will ensure scalability to handle more ATMs and transactions. Currently, 1179 domestic ATMs and 36 ATMs in five overseas territories are operational.. are made available to our customers from 275 branches. With a centralized depository application, branches are now equipped to provide depository services for both NSDL as well as CDSL. Depository customers can now avail of these services from any of the 275 designated branches. The services will be extended to cover all CBS branches of the Bank. Global Treasury has been implemented in UK, Bahamas, UAE and Bahrain and Singapore. Hongkong and India Global Treasury implementation planned in ensuing year. Payment Messaging: The Bank has implemented Payment Messaging Solution in five overseas territories. Payment Messaging Solution (PMS) is a SWIFT messaging platform for automated flow of messages from CBS. This facilitates Straight Through Processing

(STP) of SWIFT messages generated from CBS, and also goes through AML check. Bank proposes to implement PMS in all territories, including domestic branches authorised for dealing in forex transactions. Centralization of back office functions at the branches has been implemented to relieve the operational staff at the branches from the load of cumbersome back-office functions and focus on sales and services. 19 Service Branches and 48 Main Offices are functioning on the City Back Office model. These offices handle the entire clearing and collection functions of all branches in the city. The first Regional Back Office at Baroda has commenced operations for the process of centralized account opening. The RBOs will cater to a cluster of 350 400 branches for back office activities, such as, account opening, signature scanning, cheque book issue, statement printing, FDR renewals, TDS certificates and some part of MIS. To meet regulatory requirements, AML system has already been implemented in India and 14 overseas territories, viz., Oman, UAE, Fiji, Mauritius, Seychelles, Tanzania, Bahamas, Kenya, Uganda, Guyana, Hongkong, Botswana, U.K., S. Africa. 24x7x365 Global Help Desk is functioning at the Data Centre. Bank has also set up Local Help Desks (LHDs) at all Zonal Centers manned by Banks trained officers to handle day-to-day operational issues and these LHDs function from 8 am to 10 pm. All branches are connected to Global Help Desk and Local Help Desks by VOIP phones. A robust Information Security Management System has been put in place to protect the technology against security threat. Bank has implemented a centralized anti-virus program. Bank has also in place a comprehensive IT Security policy and associated procedures for various areas of IT security such as password policy, access control policy etc. The Bank has successfully implemented the Human Resource Networking for Employees Service with the main objective of creating a central database of its employees for facilitating decision-making, promotion and selection exercise as also for automating other HR process. Employees are provided with the functionality of self-service. for employees has been implemented for all domestic offices in India rendering efficiency and accuracy. The Banks training establishments have trained nearly 15000 employees on CBS modules and other technology applications. Refresher courses are also conducted on week-ends covering specific Finacle modules and other applications. To ensure Business Continuity at all times Bank has implemented a state-of-the-art Data Centre and also a Disaster

23

Directors' Report

Recovery site. Drills are conducted at regular intervals and operations transferred to the DR site seamlessly to ensure continuity of operations at all times Future Plans on Technology Front extended to cover all branches and offices in India and abroad. will be launched during 2009-10. to be operational in Jaipur, Lucknow, Bhopal and Coimbatore. as overseas centres will be completed. by hosting a SWIFT global hub in India. Under this process, the individual SWIFT infrastructure in each overseas territory will be dismantled and entire SWIFT operations across territories will be conducted through the global hub. automation Project, Bank will be implementing Loan Processing module, which will enable the Retail Loan Factories to track sales lead and also track the progress of processing of proposals, right up to sanction and disbursal of the loans. Management, Online Trading, Data Warehouse, Knowledge Management, Centralized Sourcing and Procurement System, Activity Based Performance Management and Balanced Score Card and Centralised Pension Processing Cell will also be enabled during 2009-10. The implementation of IT enabled Business Transformation Project provides the customer a wide choice of delivery channels, convenience banking and a basket of products to suit his requirement. The Banks ultimate objective is to reorient itself as a highly technology enabled Bank and Bank of first choice for its customers in order to emerge as a leader in the global market place on every single parameter including technology. Human Resources In an environment where technology, business models are being replicated and a level playing field is created, people factor and the organization culture become the key differentiator in achieving business excellence. The Bank, foreseeing this emerging scenario conceptualized and initiated numerous HR interventions. It primarily involved aligning Human Resources with the Business Transformation demands at Corporate and local levels in different areas like hiring, performance management, and talent identification and employee engagement. Technology up gradation in HR

is also a major development in the year. HRnes (Human Resources network for employees services & Employee Payroll System HRnes (Human Resources network for employees services), the web-enabled enterprise wide HR solution was launched on 26.11.2007 and it was rolled out across the country during the year. Further, additional employee-friendly functionalities were added to enable the employees to submit online applications for request transfer, grievance redressal, promotions, selection, asset-liability statement, income tax declaration, etc. Payroll has been implemented in all branches/ offices in India enabling automatic calculation and credit of salary in the Accounts of employees, PF and loan deductions, etc. This has significantly contributed in reduction of cost, improvement in efficiency in HR administration and convenience to the employees. Leadership Development Project LEAP Post-2009 technology environment, competitive compulsions, entry of foreign banks, M&A will all tend to change the course of banking necessitating new breed of leaders at different levels. Managing and leading a financial services organization in such an environment would be a new challenge for future leaders. Further, one of the key drivers for market leadership will be the Banks internal leadership. It is in response to this that the Project LEAP (Leadership enhancement and appreciation process) was conceived and launched aimed to groom our executives in leadership and capability building. Three hundred Executives are being groomed in Leadership in a phased manner. The rigorous process involves: in the Bank. degree feedback for each identified executive for building on their strength and working in the areas where development is needed.

Talent Identification and grooming through KHOJ KHOJ initially was initiated as an in-house talent identification and development exercise in 2005. An element of self development and career planning is built into the system as this is a voluntary exercise where aspiring employees apply for selection for grooming in various areas they perceive as their areas of strength in our operations. Encouraged by the huge response to the initiative, KHOJ exercise has been repeated in 2006 and in 2007. Candidates selected under KHOJ are groomed, placed in the area of operation of their choice. As part of their development many are identified as change champions in many of the new initiatives. Mentors are assigned for facilitating their grooming. Exclusive Conclaves of KHOJ selectees were organized.

24

Directors' Report

In order to make the KHOJ selectees a vibrant and visible group, due weightage is given to their contribution in career progression, rewards, special assignments, etc. Career Progression To meet the Banks growth requirements and to fulfil the aspirations of employees, avenues for career progression has been numerous. Special efforts have been made to maintain relatively younger employees manning key positions. Keeping this in view the following numbers of employees were promoted to higher grade/scale during the year: JMG/S-I to MMG/S-II (Officer to Manager) MMG/S II to MMG/S III (Manager to Sr. Manager) MMG/S III to MMG/S IV (Sr. Manager to Chief Manager) SMG/S IV to SMG/S V (Chief Manager to Asst. Gen. Manager) SMG/S V to TEG/S VI (Asst. Gen. Manager to Dy. Gen. Manager) TEG/S VI to TEG/S VII (Dy. Gen. Manager to General Manager) Recruitment The Bank has been consistently meeting the requirement of employees in various grade/scale with the requisite competencies in order to meet the changing business profile and processes and also to replenish employees retiring from Banks service. Therefore, Bank recruited -76- Officers from campuses of various Business Schools during the year. The Bank is in the process of recruiting -2000- Clerical staff, -750- DROs, -200- Agriculture Officers, and -382- specialist officers in various grade/scales and the process is expected to be concluded by June, 2009. Further, Bank has selected -200- students from the campus of reputed Business Schools, 30 10 46 552 220 927

including IIMs, MDI, XLRI, IITs, XIMB, NIMS, SP Jain, Jamanlal Bajaj, IISWBM, etc., who would be joining the Bank by June, 2009. Training To keep up with the fast changing business scenario, product profile, processes, customer preferences, numerous technology applications and compliance & regulatory requirements, training has become a centre-stage activity. The Bank conducted 342 training programs in the area of CBS covering 6234 employees during the year. To provide appropriate thrust in the area of Credit and Risk management, 193 programmes were conducted covering 3590 employees. Further, 256 training programmes were conducted in other functional areas covering 4595 employees during the year. The resources of external Training Institutions and Business Schools were tapped for training employees in the functional areas where in-house expertise was not available. 741 Officers and Executives attended training programmes in specialized areas at various external Training Institutions and reputed Business Schools. Also 20 Officers/ Executives attended training overseas. Employee Conclaves Corporate vision and strategies to yield results need to reach and get institutionalized at the operational unit levels. The very nature of widespread & distributed pattern of our operating units pose challenges for smooth percolation and we need to have conscious, focused, planned localized interventions for the corporate vision and strategies to reach effectively and get translated to business results. As one of the interventions to address these challenges Employee Conclaves were organized at different centers for cluster of branches covering all staff members of such branches. Conclaves were also organized for specific segment of employees like lady employees, DROs, Campus recruitees, etc. This facilitates brain storming, jointly thought-out action processes and ownership of the plans chalked out. This initiative has also achieved more involvement at all levels, generating excitement, awareness and passion for performance. The

The first conclave for the Bank's Sub staff members, held in Mumbai, was inaugurated by the Bank's senior most Sub staff member in the presence of CMD.

25

Directors' Report

response of employee to Conclaves organized in all the Zones have been highly encouraging generating tremendous enthusiasm, involvement and positive energy. HR Policies The Banks belief in Employees First has ensured Customer First philosophy that pervades business action across more than 3000 branches/ offices of the Bank in 25 countries. The service conditions of the employees in various cadres were codified. However, there are certain critical areas of concern to the employees and also for the Bank where policy intervention would enhance business performance and level of satisfaction of employees. Therefore, transparent policies have been framed in the critical areas of Performance Management system and Transfer of officers, which would facilitate better performance and employee satisfaction. Further, existing policies are being reviewed and where not in existence, being framed, in the areas of recruitment, promotion, career development of specialist officers, overseas selection, etc. Staff Strength Year ended March 2005 2006 2007 2008 2009 Officers 11,848 12,345 13,636 13,840 13,542 Clerks 19,284 18,231 16,979 15,777 15,485 Sub-staff 8,397 8,198 7,989 7,643 7,811 Total 39,529 38,774 38,604 37,260 36,838 Composition of Scheduled Castes and Scheduled Tribes in the Employee Strength Cadre Officers Clerks Sub-staff Marketing During the year 2008-09, brand Baroda continued to excel in providing world-class service to its customers across the globe. Throughout the year, regular sales campaigns were organized to promote various products of the Bank especially SC % 17.88% 14.85% 35.03% ST % 6.31% 4.95% 9.09% Cadre

Current Account, Saving Account, and other retail business. Special drives were undertaken to promote technology enabled services i.e. debit card, internet banking, online

remittances, payment of online taxes, utility bills etc. during the year. The Bank continued its focus on promotion of popular products and schemes as well as concepts such as Home Loan Factory, and SME Loan Factory through sustained coverage in print, out-of-home media and industry presentations etc. The Bank started a separate page on SME in Economic Times to promote customized products and services for SME business segment. The page titled Bank of Baroda presents SME Factory will be published on weekly basis. It is envisaged that this initiative will position the Bank as a major lender for SME. One of the major communication campaigns conducted during the year was Shukriya Sau Salon Kaa to express Banks gratitude to all stakeholders for 100 years of relationship with them. Another major communication campaign of the year was Baroda Next. The campaign aimed at positioning Banks technology-based services with human-touch. The year 2008-09 also witnessed the culmination of year-long centenary celebrations of the bank.

Executive Directors Shri V. Santhana raman and Shri R.K. Bakshi receiving Dun and Bradstreet Global Business Developement Award.

In recognition of the Banks efforts to increase the business across the globe, the Bank was awarded Leading Public Sector Bank in Global Business Development category

26

Directors' Report

by Dun & Bradstreet Banking Awards and MIDAS Awards, New York for Marketing Effectiveness. The Bank bagged Silver Trophy award for its corporate film and Quarterly Economic Review from the Association of Business Communicators of India (ABCI) during the year. In continuation of the Banks efforts to establish its branches as sales & service center, the Bank plans to set up City Sales Office, an additional marketing channel to reinforce the efforts of branches for business development, across 50 centers throughout the country, shortly. With effective communication and strategic marketing initiatives, the Bank enhanced its global image of being Indias International Bank. Premises Re-Engineering & Ambience Enhancement The following construction and other activities were initiated by the Bank during the year 2008-09. The following construction projects are in progress and are expected to be completed within the reasonable time limit. 1. 2. 3. 4. 5. 6. 7. 8. Corporate Center at C-34 , Bandra Kurla complex, Mumbai Administrative building at Gomtinagar, Lucknow Administrative building at Jamshedpur, Jharkhand. Building for Branch at Rajpipla. Commercial-cum- Residential complex at Ghod Dod Road, Surat. VKI, Jaipur. Pant Nagar, SIDCUL. Construction of Bank of Baroda Centenary year (20072008) Sir Sayajirao Nagar Griha at Baroda for handing over to the Vadodara Municipal Corporation as an appreciation to the city of Baroda on completion of 100 years of Bank of Baroda.

branches were refurbished. The Bank has also initiated steps for standardization of the interior of branches and offices. Under the Business Process Re-engineering, the Bank has initiated steps to establish Regional Back Offices (RBO) and City Back Offices (CBO) at different centers of the country. The RBOs at Jaipur and Baroda have already been furnished as per the requirement and are ready for operation. Two MICR Centers at Bhavnagar and Jamnagar have been refurbished and functionalized during the year. Increased use of IT to improve efficiency of the department The department is extensively increasing the use of IT in its day to day functioning to improve efficiency. The contracts are being finalised through e-tendering process. Other Activity As a part of the Banks conscious efforts to reduce rental burden, continued efforts are being made to ensure optimum use of existing premises. As a result, the Bank could surrender as much as 86,786 sq.ft. leased area during the period under review (2008-2009). It is the policy of the Bank to go for surrender of Maximum area in each year. Branch Network: Brick and Mortar Distribution Channels Closer to the Customer (31st March 2009): Area Classification (India) Metro Urban Semi-urban Rural Total Overseas Number of Branches 637 540 649 1100 2926 48 % Share in Total 21.77 18.46 22.18 37.59 100.00 100.00

The construction projects at Mylapore and Alwerpet at Chennai, East of Kailash and Janakpuri at New Delhi are in the final stages of issuing tenders etc. It is the Banks endeavour to make use of all the landed property purchased by the Bank to put to use by constructing either commercial or residential premises. The construction project completed during the year and are in use/operation As regards this, one building, which was earlier occupied by the sub-staff has now been converted into Studio type flats for officers at Bhandup, Mumbai. Refurbishment Subsequent to the implementation of the CBS at Branches, the Bank has made it a point to ensure that maximum number of branches are put under refurbishment, up gradation, face lifting, redesigning and improved ambience for facilitating convenient banking to customers. During the year, 290

Domestic Subsidiaries and Associate The performance of Subsidiaries & the Associate Bank of the Bank during 2008-09 was good except for that of the BOBCARDS Ltd., which incurred a loss of Rs 11.42 crore due to stringent application of the IRAC Norms (Prudential Norms on Income Recognition, Asset Classification & Provisioning). The Baroda Pioneer Asset Management Co. Ltd. too incurred a loss of Rs 6.12 crore primarily due to higher establishment expenses. However, development plans are in progress for all the subsidiaries of the Bank. A turnaround strategy is being carved out for the BOB Capitals Ltd., which would soon see a commencement of stock broking operations. For BOBCARDS Ltd., active handholding with the Parent Bank is under implementation with a thrust on NPA recovery and consolidation of its operations.

27

Directors' Report

(Rs lacs)
Entity (with date Country Owned Total Assets Net Profit Offices Staff of registration) Funds BOB Capital Markets Ltd. 11 Mar. 1996 BOBCARDS Ltd. 29 Sept. 1994 Associate Baroda Pioneer Asset Mgmt. Co. Ltd. 5 Nov. 1992 Nainital Bank Ltd. 31st Jul 1922 India 7,381.79 7,652.64 (-)612.08 1 31 India 10,379.49 21,331.35 (-)1,141.81 37 143 India 11,205.77 11,206.01 967.94 1 10

committees were awarded first and second prizes respectively for their outstanding performance/ functioning, besides, our Zonal office, Pune, Jaipur & Bhopal and Regional office, Goa were also awarded by the respective Regional Official Language Implementation offices, Ministry of Home affairs for implementation of Official Language Policy of Government of India in their area of operations. During the year, the Bank has started training programme for Unicode multilingual package for their employees with the view to promote use of Hindi in day-to-day banking. The Third Sub-committee of Parliament on Official Language visited Zonal office, New Delhi, branch office Mandapam (Rameshwaram), Haridwar and Ahmednagar, R.O. Goa and R.O. Udaipur of the Bank and appreciated the efforts/work done by the Bank in Official Language Implementation. The Bank's in house Hindi magazine "Akshayyam" was awarded 4th prize by RBI under Hindi magazine category. Besides, the Banks House Journal "BOBMAITRI" was awarded by ABCI, Mumbai under bilingual House Journal competition.

India 17,531.90 2,43,923.18

3,602.62

92 650

Implementation of Official Language Policy During the year under review, the Bank made significant progress in promoting and propagating the use of Official Language and ensured compliance of various other statutory requirements besides recommendations of Parliamentary Committee on Official Language. The Bank could achieve all major targets set by the Government of India. In recognition of the Bank's outstanding performance, the Bank was appreciated at various levels and awarded with prestigious Indira Gandhi Rajbhasha Shield on all India level for the third consecutive year and thus created a history by making a hat trick. The Banks Chairman & Managing Director Shri M.D. Mallya, received the award at the hands of Her Excellency Smt. Pratibha Patil, President of India on 14th September, 2008 at Vigyan Bhavan, New Delhi. The Town Official Language Implementation Committees functioning at Jaipur and Baroda under the convenorship of the Bank have discharged their responsibilities excellently and provided suitable guidance to the member Banks. These

Board of Directors
Shri M.D.Mallya, was appointed by the Central Government as Whole time Director designated as Chairman and Managing Director w.e.f. 07th May 2008, under section 9(3) (a) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. Shri Rajiv Kumar Bakshi, was appointed by the Central Government as Whole time Director designated as Executive Director w.e.f. 06th November 2008, under section 9(3) (a) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, vice Shri S.C.Gupta who ceased to be a Director on his appointment as Chairman and Managing Director of United Bank of India. Shri Amitabh Verma, IAS was nominated by the Central Government as a Director w.e.f. 10th June 2008, under section 9(3) (b) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 representing the Central Government vice Shri G.C. Chaturvedi, IAS who ceased to be a Director on the nomination of Shri Verma. Smt. Masarrat Shahid nominated by the Central Government under section 9(3) (h) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, ceased to be a Director w.e.f 14.09.2008 on completion of her tenure.

CMD.Shri M.D. Mallya is seen receiving the Indira Gandhi Rajbhasha Shield from H.E. Smt Pratibha Devisingh Patil, the President of India.

Shri Maulin A. Vaishnav nominated by the Central Government under section 9(3) (h) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, ceased to be a Director w.e.f. 28.11.2008 upon his resignation.

28

Directors' Report

Dr. Dharmendra Bhandari, Shri Manesh P Mehta and Dr. Deepak B. Phatak representing shareholders other than Central Government, elected as Directors under section 9(3) (i) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, ceased to be Directors w.e.f. 15.11.2008, on completion of their tenure. Dr. Dharmendra Bhandari, Dr. Deepak B. Phatak and Shri Maulin A. Vaishnav were elected as Directors from amongst Shareholders other than Central Government under section 9(3) (i) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. The elections were held at the Extra Ordinary General Meeting of the Shareholders of the Bank held on 23.12.2008 and they assumed office w.e.f. 24.12.2008 for a period of three years till 23.12.2011.

Acknowledgement
The Bank has taken during 2008-09 a number of initiatives on business, technology, marketing and HR fronts. Successful translation of these initiatives into actual business and earnings growth has been primarily due to the employees of the Bank, who through their passionate work helped the Bank emerge as a leading PSU bank. We are grateful to our people for their continued commitment and dedication towards the Bank. Our customers have always supported us in all our initiatives. If in the process of technological and business transformation, a few of our customers have been inconvenienced, they have borne the same with patience and equanimity. We are grateful to our customers for their continued patronage and encouragement. Our shareholders have been our Key Partners in progress. We are grateful to them for their support and also for the confidence that they have placed in us. The Board of Directors of the Bank places on record its appreciation for the continued support and patronage received from its customers, shareholders and well-wishers in India and abroad. The Board is also indebted to the Government of India, RBI, SEBI, other regulatory authorities, various financial institutions, banks and correspondents in India and abroad for their unwavering and valuable support and guidance to the Bank from time to time. For and on behalf of the Board of Directors,

Directors Responsibility Statement

The Directors confirm that in the preparation of the annual accounts for the year ended March 31, 2009: followed along with proper explanation relating to material departures, if any; the guidelines of the Reserve Bank of India, were consistently applied. made so as to give true and fair view of the state of affairs of the Bank at the end of financial year and of the profit of the Bank for the year ended on March 31, 2009; of adequate accounting records in accordance with the provisions of the applicable laws governing banks in India; and

M. D. Mallya Chairman and Managing Director Mumbai

basis.

26 May, 2009

29

DeOe#eere JekeleJe

DeOe#eere JekeleJe

iegCeJeee kes meeLe Je=ef Hej Deeien

efJekeeme kes efueS cepeyetle DeeOeejefMeueeDeeW kee efvecee&Ce kejles ngS yeQke Deeies ye{ jne nw . . . .
Sce.[er.ceuee DeOe#e SJeb HeyebOe efveosMeke

efHee efnleOeejke,
cegPes en yeleeles ngS yengle Hemevvelee nes jner nw efke JewefMJeke mlej Hej yeQefkebie SJeb efJelleere mesJeeDeeW kes efueS keef"ve leLee egveewleerHetCe& efmLeefle nesves kes yeeJepeto yeQke Dee@He] ye[ewoe ves 2008-09 ceW Meeveoej keee&efve<Heeove ope& efkeee nw. JewefMJeke DeLe&JeJemLee, DeYetleHetJe& yeQefkebie SJeb lejuelee mebke mes iemle nesves kes keejCe 2008 kes ceOe mes peyejomle cevoer kee DevegYeJe kej jner nw. meYeer efJekeefmele DeLe&JeJemLeeDeeW kes Ske ner mecee ceW ceboer kee keer DeeMebkee Jekele keer ieF& nw. neueebefke JewefMJeke mebke kee HeYeeJe Yeejle Hej DeHes#eeke=le kece Lee, leLeeefHe Hetbpeer HeJeen kes mebkegeve SJeb Iejsuet HeYeeefJele efkeee. JewefMJeke ceebie ceW lespeer mes DeeF& efiejeJe ves Yeejleere efveee&le SJeb Deeweesefieke keee&efve<Heeove Hej Heefleketue eYeeJe [euee. Yeejleere efj]peJe& yeQke kees 2008-09 keer HeLece ceener ceW cegemHeerefle kes ye{les oyeeJeeW kes HeefjHes#e ceW DeHeveer veerefle ceewefke efveeb$eCe mes ceewefke megiecelee keer Deesj HeefjJeefle&le kejveer He[er. en HeefjJele&ve cegemHeerefle kes oyeeJeeW kees kece kejves Deewj mebke mes GlHevve efJekeeme - efiejeJe kees cesvepej jKekej efkeee ieee.

30

DeOe#eere JekeleJe

Hej peesj osves kes meeLe Deeies ye{e. ceee& 2009 kees meceeHle Je<e& leke, Fmeves DeHeves JewefMJeke JeJemeee mlej kees 30% DeefmleeeW ceW keceer keer. efJeosMeeW ceW DeHeveer meMekele GHeefmLeefle kes keejCe yeQke kes Heeme Deepe 36 efceefueeve mes DeefOeke JewefMJeke ieenke nQ pees DeeOegefveke Heeweesefiekeer kee ueeYe G"e jns nQ. 2008-09 ceW Fmekee keee&efve<Heeove, Yeewieesefueke efJemleej, GlHeeoeW Deewj mesJeeDeeW keer efJemle=le esCeer leLee peesefKece HeyebOeve keer Meeveoej #ecelee mes mecHevve meeJe&peefveke meg{ kejves ceW me#ece nw. veJeesvces<eer HenueW yeQke keer Deebleefjke Meefkele DeHeves ieenkeeW kes efueS cenlJe, Deeflemeg{ DeeOeejefMeuee leLee DeHeveer Heeweesefiekeer Deewj yeeb[ kees mecegvvele kejles ngS efJelleere mesJee Heoelee HesjCeeoeeke keee& HeefjJesMe ceW ceeveJe mebmeeOeve HeyebOeve kees DeefOeke yesnlej yeveevee, GHeueyOe metevee Heeweesefiekeer megefJeOee mes DeefOekelece meHeuelee Deefpe&le kejvee leLee JeJenej Deewj ef<keesCe ceW JeeJemeeefekelee keer YeeJevee efJekeefmele kejves kes efueS HetCe& megefJeOeeDeeW mes megmeefppele ceekexefbie mebmke=efle kees Deelcemeele kejvee Lee. yeQke ves HeieefleMeerue ceekexefbie SJeb mesume {ebee mLeeefHele efkeee. efJeefMe< JeeJemeeefeke ue#e Deewj ueer[ me=peve keee&eceeW kes meeLe efyeeer DeefYeeeve mebeeefuele efkeS. Ge "ieenkeesvcegKelee" keer YeeJevee SJeb yeepeej efJeMues<ekeeW kes Fo& efieo& jner. yeQke ves DeHeves ieenkeeW kees Deer iegCeJellee Jeeues GlHeeoeW Deewj mesJeeDeeW kees GHeueyOe kejeves kes efueS DeHeveer Heeweesefiekeer kees mecegvvele efkeee, Hejbleg ieenke mebyebOeeW ceW Jeefkeleiele Snmeeme kees yeveeS jKeves kes ceeceues ceW efkemeer Hekeej kee keesF& mecePeewlee veneR efkeee. Je<e& DeeOeejefMeuee kes efvecee&Ce nsleg JeJemeee, ieenke Deewj Heeweesefiekeer kes #es$eeW ceW Deveske veJeesvces<eer HenueeW kee MegYeejbYe efkeee. 31 ceee& 2009 leke, yeQke ves 1922 Iejsuet MeeKeeDeeW ceW meer.yeer.Sme., (keesj yeQefkebie meesuetMeve) jesueDeeG kee keee& Hetje efkeee pees Fmekes JeJemeee kes 94% efnmmes kees keJej kejleer nQ. meYeer meer.yeer.Sme. MeeKeeSb Deej.er.peer.Sme. Deewj Sve.F& SHe.er. kes ceeOece mes Deble: yeQke OeveHes<eCe keer megefJeOee mes megmeefppele nQ. efJeosMeeW ceW efmLele -43- MeeKeeDeeW Deewj Fmekeer efJeosMeer Deveg<ebefieeeW keer 23 MeeKeeDeeW ceW Yeer meer.yeer.Sme. efeeeefvJele kej efoee ieee nw. yeQke kee S.er.Sce. vesJeke& Yeer ye{kej 1,179 nes ieee nw leLee ieeceerCe #es$eeW ceW -2- yeeeescewef^ke S.er.Sce. mLeeefHele efkeS ieS. ieenke megefJeOee ye{eves Deewj keejesyeejer ueeiele ceW keceer ueeves kes efueS yeQke ves Heesve yeQefkebie mesJee, keeHeexjs vekeoer HeyebOeve HeCeeueer, Yegieleeve cesmesefpebie meesuetMeve Deewj iueesyeue ^spejer Deeefo pewmes Deveske veS metevee Heeweesefiekeer GlHeeoeW kee MegYeejcYe efkeee. efjsue JeJemeee kes lenle $e+Ce HeJeen ceW megOeej kejves kes efueS, yeQke ves 200809 kes oewjeve Devexm ceveer ef[Heeefpe kes efueS $e+Ce, Sve.Deej.DeeF&. kes efueS ye[ewoe Sef[Meveue SMeesjWme S[Jeevme, ye[ewoe yeele efce$e Deeefo pewmes veS GlHeeoeW kees Deeefmle Deewj oselee He#eeW ceW Meeefceue kejles ngS Deveske veJeesvces<eer HenueW keer. Fmekes Deefleefjkele Deveske GlHeeoeW kees Deewj DeefOeke yeepeejesvcegKe yeveeves kes efueS mebJeefOe&le efkeee. veS efjsue JeJemeee kees ye{eves kes efueS yeQke ves, Deeeeceke yeepeej jCeveerefle kees Debieerkeej kejles ngS, efjsue $e+Ce GlmeJe DeefYeeeveeW kee MegYeejcYe efkeee efpemekes Debleie&le DeefYeeeve DeJeefOe kes oewjeve efJeefYevve Hekeej keer tW Heoeve keer ieF&. keF& keej efvecee&lee kecHeefveeeW kes meeLe menceefle %eeHeve Hej

nmlee#ej efkeS ieS Deewj efJeMes<e Hewkespe kes lenle cebpetj Mewef#eke $e+Ce GOeejkelee&DeeW leLee DeeJeeme $e+Cekelee&DeeW kees peerJeve yeercee keJej Heoeve kejves kes efueS eF&-DeHe JeJemLee keer.

ves $e+Ce ue#eeW keer HeeefHle kejves kes Deefleefjkele Je<e& 2008-09 ceW -4- ye[ewoe mJejespeieej efJekeeme mebmLeeve mLeeefHele efkeS efpemekee keee& yesjespeieej egJekeeW kees HeefMe#eCe Heoeve kejvee leLee Gvekes ueeYeHeo mJeefveeespeve ceW megefJeOee Heoeve kejvee nw. yeQke ves Hele#e ke=ef<e Deewj Sme.Sce. F&. #es$eeW ceW Deveske $e+Ce DeefYeeeveeW kee MegYeejcYe efkeee, MeeKee mlej Hej $e+Ce efMeefJej Deeeesefpele efkeS leLee GOeejkelee& ieenkeeW kees Devegketue GlHeeoeW SJeb mesJeeDeeW keer DeeJeMekelee kes Devegmeej $e+Ce megefJeOeeSb Heoeve keer. yeQke ves -350- Lem MeeKeeDeeW kee eeve efkeee nw peneb ke=ef<e mebyebOeer $e+Ce osves keer Heyeue mebYeeJeveeSb nQ Deewj yeQke ke=ef<e $e+CeeW kes mebienCe nsleg JeJemeee megefJeOee Heoelee cee[ue kee DevegmejCe kejlee jne nw. yeQke ves meceie Skeerke=le efJekeeme SJeb Mele HeefleMele efJelleere meceeJesMeve kes efueS osMe Yej ceW 101 ieeJeeW kees ieeso efueee nw. JeJemeee keee&efve<Heeove keer HecegKe efJeMes<eleeSb keerefle&&ceeve mLeeefHele efkeee Deewj Je<e& 2008-09 kes oewjeve 30% ope& keer. Fmekeer osMeere peceejeefMe ceW 23.6% Deewj osMeere Deefiece ceW 29.3% HeeLeefcekelee HeeHle #es$e $e+Ce ves DeefveJeee& DeHes#eeDeeW kees Hetje efkeee Deewj Je<e& 2008%, 09 kes oewjeve 23.9% ke=ef<e $e+Ce ceW 27.9%

Je<e& 55.2% kee efJeosMeer JeJemeee 46.3% [euej keer leguevee ceW 25% cetue - eme kes Demej kees oMee&lee nw. yeQke kes JewefMJeke JeJemeee ceW efJeosMeer JeJemeee ves 22.5% Deewj yeQke kes mekeue ueeYe ceW 21.2% kee eesieoeve efkeee.

Devepe&ke DeeefmleeeW kees vetvelece mebYeeefJele mlej leke efveeefv$ele kejves Hej Oeeve kesefvle efkeee nw. Iejsuet Heefjeeueve ceW ceee&, 2009 keer meceeefHle Hej mekeue SveHeerS 1.51% jne, peyeefke efJeosMeer Heefjeeueve ceW en 0.51% Lee. efJelleere Je<e& 2008%

efnleOeejkeeW kees efoS ieS JeeeoeW kes Devegmeej Lee. YeeJeer meese 20 pegueeF&, 2008 kees yewke ves DeHeveer Meleeyoer Hetjer keer. yeQke Dee@He] ye[ewoe kes efueS 100 Je<eeX Deewj 25 osMeeW keer en ee$ee ye[er uecyeer Deewj IeveeDeeW mes Deesle-Heesle yeQke ves ceekexefbie leLee JeJemeee mebyebOeer HenueeW kes efueS keF& Hegjmkeej peerles Deewj yeQefkebie Geesie ceW DeHeveer HeeflemHeOee&lceke ye{le kees DeefOekelece kejves Hej Oeeve kesefvle efkeee. ye[ewoe yeev[ GHeYeeskeleeDeeW kes efoue ceW 'Yeejle kes Debleje&<^ere keer ee$ee ceW ceekex ceW mecekeeueerve egveewefleeeW kee meecevee kejles ngS cetueeW keer Deeies ye{ jne nw.

31

DeOe#eere JekeleJe

yewke kees meJee&efOeke Jejerelee Jeeues yeQke kes mLeeve Hej Heefleef<"le kejves kes efueS en DeeJeMeke nesiee efke Fmekeer veerefleeeW, GlHeeoeW, HeCeeefueeeW leLee cetue efveOee&jCe jCeveerefleeeW kee HegveefJe&veeme kejkes yeQke keer efmLeefle kees meg{ efkeee peees leeefke Dele: Deeieeceer Je<e& 2009-10, yeQke kes ieenkeeW kes HeefjHes#e ceW efJeMes<e Je<e& yevevess pee jne nw. yeQke ves efHeues keg Je<eeX ceW yengle meer ieenke kesefvle Heeweesefiekeer HenueeW kee MegYeejbYe

kejvee.
n

efveeefv$ele kejvee.
n

egkeer nw. yeQke ves ieenkeeW kees JewkeefuHeke F&-ef[ueerJejer ewveue GHeueyOe kejeS nQ. Fme Hekeej yeQke ves DeHeves ieenkeeW kees lJeefjle SJeb o#eleeHetCe& mesJeeSb Heoeve kejves kes efueS yengle - mes keoce G"eS nQ. yeQke kes keeHee&sjs GsMe SJeb jCeveerefle

megefJeOeeSb Heoeve kejvee.

n

leeefke Meguke DeeOeeefjle Deee keer efnmmesoejer ceW megOeej nes mekes.
n

"lJeefjle

leLee o#eleeHetCe& ieenke mesJee Heoeve kejkes ieenkeesvcegKelee kes ceeOece mes Deee DevegHeele ceW megOeej kejles ngS yewuesvme Meer kes kegue JeJemeee Je ueeYeebMe kes ceOe Dee meblegueve yeveeS jKevee.

DeefOeke meg{ kejkes efJeJeskeHetCe& peesefKece leLee eue efveefOe HeyevOeve veerefleeeW kee DevegHeeueve kejvee". Je<e& 2009-10 kes oewjeve yewke, Leeske JeJemeee Hej kece-mes-kece efveYe&j neskej DeuHe ueeiele Jeeueer pecee jeefMeeeW Hej Oeeve kesefvle kejves kes meeLe-meeLe $e+Ce HeJele&ve keer Heefeee ceW HetCe& efveev$eCe kes meeLe Deeefmle iegCeJellee mebjef#ele kejles ngS

Je<e& 2008-09 kes oewjeve, yeQke Dee@He] ye[ewoe ves DeHeves legueve He$e kees meg{ efkeee nw Deewj Heefleketue HeefjefmLeefleeeW kes oewjeve Yeer yesnlej HeefjCeece osves ceW DeHeveer #ecelee

efueS DeHeves kees megmeefppele efkeee nw. Je<e& 2009-10 kes oewjeve kee@Heexjs ue#eeW leLee GsMeeW kees HeeHle kejves leLee Iejsuet Je efJeosMeer yeepeej ceW veS JeJemeee DeJemejeW kees leueeMeves kes efueS yeQke keer JeJemeee eespevee leLee JeeHeke keee&veerefle efvecveevegmeej nesieer n

nceejer Fme ee$ee ceW, ceQ DeeHekes melele meneesie Deewj meceLe&ve keer DeHes#ee jKelee ntb.

ieenke megefJeOee leLee ieenke meblegef< kees ye{eves kes efueS DeHeveer HeCeeueer SJeb Heefeee kee HegveefJe&veeme kejvee. Ge mlejere vewefleke cetueeWb kes efveOee&jCe, HeejoefMe&lee Deewj Glke=<lee HeeHle kejves kes DevegMeeefmele ef<keesCe kes ue#e kes meeLe yesnlej keeHeexjs

Sce.[er.ceuee DeOe#e SJeb HeyebOe efveosMeke

32

efveosMekeeW keer efjHees&

efveosMekeeW keer efjHees&

Hekes efveosMeke ieCe yeQke keer 101JeeR Jeeef<e&ke efjHees& kes meeLe 31 ceee&, 2009 kees meceeHle Je<e& (efJeeere Je<e& 09) kes uesKee-Hejeref#ele legueve-He$e, ueeYe-neefve uesKee Deewj JeJemeee SJeb Heefjeeueve mebyebOeer efjHees& men<e& Hemlegle kej jns nQ.
Keb[Jeej keee& efve<Heeove :

Dee
n n

keee& efve<Heeove keer efJeMes<eleeSb :

Hekeej FveceW 30.01%
%

ngF&.
n n

$e+Ce pecee DevegHeele efHeues 77.32% keer leguevee ceW 82.36% jne. Kegoje $e+CeeW ceW 16.3% mekeue Iejsuet $e+CeeW kee 17.8% jne. ceW 2.91% kes mlej Hej jne.

ueeYeebMe :
efveosMekeeW ves 31 ceee&, 2009 kees meceeHle Je<e& kes efueS 90%

jneR peyeefke efHeues

Hetbpeer Heee&Hlelee DevegHeele :

yeQke kee Hetbpeer Heee&Hlelee DevegHeele keeHeer Dee nw SJeb 31 ceee&, 09 kees en yeemesue II kes Devleie&le 14.05% DeHeefleYeteflele meyee@[eavess[ yee@C[eW kes ceeOece mes cepeyetle efkeee nw Deewj 300.20

Je<e& en 0.47% Leer.

n

Hetbpeer Heee&Hlelee DevegHeele (meerSDeej) yeemesue I kes Devegmeej 12.88% jne peyeefke yeemesue II kes Devegmeej en 14.05% jne.
%

keer

n n

Heejef#ele jeefMe ceW Debleefjle keer ieeer. ueeKe nes ieee.

HecegKe efJeeere DevegHeele efJeJejCe

Deewmele DeeefmleeeW Hej Deee (DeejDeesSS) (%)

2008-09
1.99 1,71,666.55

2007-08
0.89 1,37,324.72 5.75 1,34,896.47 8.76 2.90 3.00 50.89 261.54 39.41

efveefOeeeW keer Deewmele ueeiele (%)

5.81 1,75,818.59

Deewmele Deee (%)

%)

8.58 2.91 2.78 45.38 312.61 61.14

Deee efJemleej (%) ueeiele-Deee DevegHeele (%)

33

efveosMekeeW keer efjHees&

Deve efJeJeskemeccele GHeee :

et.Sme. $168.7 efyeefueeve jne. Fmeces 3.4% Henues en $163.00 efyeefueeve Lee. Deeeele ceW Yeer Je<e& oj Je<e& DeeOeej Hej 14.3% Henues $ 88.52 efyeefueeve mes et.Sme $119.05. efyeefueeve nes ieee. eeuet Keelee Ieee Je<e& 2008-09 ceW mekeue Iejsuet GlHeeo kee 3% jnves kee Devegceeve nw. en

DeeOeej Hej HeeJeOeeve efkeee nw. Fve eejeW esefCeeeW ceW HeeJeOeeve keer kegue jeefMe Je<e& 2008-09 keer HeLece ceener ceW). kejes[ Leer. Je<e& 2009 kes Deble ceW yeQke kes Heeme Fve Meer<eeX kes lenle GHeueyOe Yeejleere DeLe&JeJemLee, Ieer DeeJeke SJeb oerIee&JeefOe Deewj DeuHeeJeefOe $e+CeeW ceW keceer leLee 2008-09 ceW Hees&HeesefueeeW DeeJeke ceW JeeHemeer kes keejCe, oyeeJe ceW jner. Ske mekeejelceke yeele en nw efke Hele#e efveJesMe Je<e& 2008-09 ceW (etSme $ 27.38 efyeefueeve yejkejej jne, pees en oMee&lee nw efke oerIee&JeefOe efveJesMe keer ef< mes Yeejle Deeke<e&ke yevee jnsiee. peneb Yeejle kee efJeosMeer cege Yeb[ej ceF&, 2008 ceW $315 efyeefueeve mes efiejkej ceee&, 2009 keer meceeefHle Hej $ 252.33 efyeefueeve jn ieee, leLeeefHe, Jes osMe keer mekeue efJeeere DeeJeMekeleeDeeW Deewj DeeeeleeW keer leguevee ceW Heee&Hle yeves jns. Fmekes DeueeJee

(Deefleefjkele mesJeeefveJe=efe ueeYe).

HeyebOeve efJeJeseve SJeb efJeMues<eCe 2008-09 ceW DeeefLe&ke HeefjMe :

Je<e& 2003-04 mes 2007-08 leke keer DeJeefOe kes oewjeve 8.9% osKeves kes yeeo Yeejleere DeLe&JeJemLee ves Je<e& 2008-09 ceW Hetjer ogefveee ceW DeeF& ceboer kes keejCe ceboer kee DevegYeJe efkeee. Yeejle meefnle GYejleer yeepeej DeLe&JeJemLeeDeeWb ves

Yeejle ceW efJekeeme keer oj ceW ceboer, efJee Je<e& 2008-09 keer otmejer ceener ceW ueieeleej 5 cenerveeW ces efveee&le ceW efiejeJe leLee Deeweesefieke efiejeJe ope& keer ieeer. Yeejleere efj]peJe& yeQke ves DeHeveer Jeeef<e&ke ceewefke veerefle 2009-10 ceW Je<e& 2008-09 kes efueS % mes 6.7% keer esCeer ceW jnves keer HeleeMee oMee&eer nw. meskej mlej Hej Je<e& 2008-09 kes oewjeve ke=ef<e #es$e kee keee& efve<Heeove meblees<epeveke jne. keWere meebefKekeere mebie"ve (meerSmeDees) ves ke=ef<e SJeb Deveg<ebieer #es$e keer efJekeeme oj 2.6% kes Devegmeej Je<e& 2008-09 ces kegue KeeeeVe kee GlHeeove Je<e& 2007-08 kes 230.08 efceefueeve ve keer leguevee ceW Je<e& 2008-09 ceW 227.9 efceefueeve ve nesves keer mebYeeJevee nw. leLeeefHe, Deeweesefieke #es$e ves Je<e& 2008-09 ces ieefle ces keceer kees DevegYeJe efkeee. Je<e& oj Je<e& 2007-08 ceW 8.5% keer leguevee ceW 2.4% mLeeeer DeLeJee {beeeiele GeesieeW ves Je<e& 2007-08 ceW 5.9% keer leguevee ceW Je<e& 200809 ceW 2.7% meskej SJeb kees lesue ceW peeoe jner. Deeweesefieke ceboer ceW ye[e eesieoeve efveJesMe ceW keceer SJeb efvepeer GHeYeeskelee ceebie jne. leLeeefHe, efJeeere eeslmeenve GHeeeeW Deewj Jeeve

mes

cetue 26.4% ceW keeHeer no kee mLeeefelJe osKee ieee. Je<e& 2008-09 ceW, Yeejleere efj]peJe& yeQke keer ceewefke veerefle, cege mHeerefle keer efebleeDeeW mes nkej Je<e& 2008-09 ceW efJeeere efmLejlee jKeves Hej eueer ieeer Deewj en efJeeere ceener ceW efJekeeme mecevJeeve Hej kesefle jner. Yeejleere efj]peJe& yeQke kes GHeeeeW, Hee@efuemeer ojeW ceW keceer, kewMe efj]peJe& jsefMeees ceW keceer, meebefJeefOeke lejuelee DevegHeele ces keceer, Hebtpeer DeeJeke Hej efveeb$eCeeW ceW t mes Iejsuet lejuelee oyeeJeeW ceW keceer Deeeer Deewj Deblej yeQke ceebie ojW Ie ieF&. Yeejleere efj]peJe& yeQke kes GHeeeeW mes efJeeere HeCeeueer ceW GHeueyOe mebeeer HecegKe lejuelee mekeue Iejsuet GlHeeo kee kejerye 7% jner. JewefMJeke mecemee mes efveHeves kes efueS mejkeej ves Yeer leerve mebpeerJeveer GHeee efkeS. pees ieeceerCe iejeryeeW kes efueS megj#ee keee&eceeW, ke=ef<e $e+Ce ceeHeer Hewkespe leLee "s Jesleve Demej mekeue Iejsuet GlHeeo kee 3% jne. Yeejleere DeLe&JeJemLee kees Deeies ye{ves kes efueS keF& egveewefleeeW kee meecevee kejvee

keeHeexjs keee&efve<Heeove Yeer Je<e&Yej Oeercee jne. eeefHe Je<e& 2008-09 keer leermejer efleceener efyeeer cee$ee SJeb ueeYeHeolee kes efuenepe mes meyemes Kejeye jner. Deiemle 2008 ces 13.0% (Je<e& oj Je<e&) kes DeemeHeeme peeves kes yeeo ns[ueeFve cegemHeerefle keer oj (nesuemesue cetue metekeebke) 28 ceee&, 2009 kees 0.26% Hej Dee ieee. JemlegDeeW kes cetue ceW efiejeJe SJeb kecepeesj Iejsuet ceebie kes keejCe Deeieeceer ceener ceW cege mHeerefle keer oj meeOeejCe yeveer jnves keer mebYeeJevee nw. JewefMJeke ceboer ceW efiejeJe kes keejCe Je<e& 2008-09 ceW Yeejle keer JemlegDeeW kee efveee&le

efveJesMe ceebie kees ye{evee, Ge mejkeejer KeeeX kees osKeles ngS HeCeeueer mes Heee&Hle lejuelee yeveeS jKevee, efJeeere mLeeefelJe yeveeS jKevee Deewj meeceeve yeepe oj HeefjJesMe yeveeS jKevee Deeefo. Je<e& 2008-09 ceW HeejbYe efkeS ieS ceewefke eeslmeenve GHeeeeW leLee JemlegDeeW kes cetueeW ceW keceer mes DeLe&JeJeLee ceW Iejsuet keee&keueeHeeW kees mLeeefelJe oskej efiejeJe kees jeskeves ceW meneelee efceuesieer. leovegmeej, meeceeve ceevemetve kes Devegceeve kes DeeOeej Hej Yeejleere efj]peJe& yeQke ves Je<e& 2009-10 ceW mekeue Iejsuet GlHeeo ceW 6% SJeb efJelleere Je<e& 2010 kes Deble ceW 4% cege mHeerefle ( [yuetHeerDeeF& ) kee Devegceeve efkeee nw.

34

efveosMekeeW keer efjHees&

Je<e& 2008-09 ceW Yeejleere yeQefkebie #es$e kee keee& efve<Heeove :

Je<e& 2008-09 kes oewjeve Yeejleere yeQefkebie Geesie kes mece#e JewefMJeke efJeeere yeepeejeW

peesefKece mes mebyebefOele cegeW Hej meneelee osves nsleg peesefKece HeyebOeve Deewj SSueSce keer GHe meefceefleeeW kee ie"ve efkeee nw. yeQke kes Heeme ceneHeyebOeke kes vesle=lJe ceW Ske Hetje peesefKece HeyebOeve efJeYeeie keee&jle nw efpemeceW eesie, DevegYeJeer, HeefMeef#ele meHe meomeeW kees lewveele efkeee ieee nw. yeQke ves Deueie-Deueie meefceefleeeW kee ie"ve, Ge keee&HeeuekeeW kes vesle=lJe ceW mebyebefOele peesefKece keeeeX kee Hee&Jes#eCe kejves kes efueS efkeee nw. Deeefmle, oselee HeyebOeve meefceefle (SSuemeerDees) cetuele: ceekex peesefKece SJeb legueve He$e HeyeObeve kes efueS efpeccesoej nw. Fmekes Heeme peceejeefMeeeW keer ojW, $e+Ce keer ojW, mHes[

vener ngDee. efHej Yeer, keef"ve JewefMJeke ceboer kes Yeejle Hej HeYeeJe kes keejCe Je<e& 2008-09 ces bJeeefCeefpeke meskej kees yeQke $e+CeeW ceW keceer Deeeer. Fmekes DeueeJee

meeOeejCe jne. JeeefCeefpeke meskej kees yeQke $e+CeeW ceW Je<e& 2008-09 ceW 16.09% (Je<e& oj Je<e&) keer % Leer. JeeefCeefpeke yeQkeeW kes iewj KeeeeVe $e+CeeW lee kejves kes Heleeeesefpele DeefOekeej nQ. $e+Ce veerefle meefceefle (meerHeermeer) kes Heeme efJeefYevve GeceJeej $e+Ce peesefKece keee&eespevee, $e+Ce veerefle yeveeves meefnle eespeveeSb leweej kejkes Gvns keeee&efvJele kejves kee DeefOekeej SJeb efpeccesoejer nw leLee Fmes efveeefcele DeeOeej Hej $e+Ce peesefKece HeyebOeve keeeeX keer efveiejeveer Yeer kejvee nw. Heefjeeueve peesefKece HeyebOeve meefceefle (DeesDeejScemeer) kes Heeme Heefjeeueveiele peesefKece kees, mHe< Heefjeeueve peesefKece HeyebOeve Heefeee leweej kejvess Deewj Gmekee jKejKeeJe kejves kee DeefOekeej SJeb efpeccesoejer nw. peesefKece HeyebOeve veerefle Yeejleere efj]peJe& yeQke kes Deebke[s oMee&les nQ efke yeQefkebie HeCeeueer ceW peneb yeQke $e+CeeW ceW efiejeJe jner, JeneR en efvepeer SJeb efJeosMeer yeQkeeW ceW lespe jner. SJeb ceereeoer oseleeDeeW keer leguevee ceW ceee& 09 ceW ye{kej 28.1% jne. en Ske Je<e& Henues 27.8% Lee. en kece $e+Ce efJemleej kes keejCe mebYeJe ngDee nw. Devegmetefele JeeefCeefpeke yeQkeeW kes $e+CeeW kee Keb[Jeej efveeespeve oMee&lee nw efke Je<e& $e+Ce veerefle, efce[ Dee@efHeme Hee@efuemeer, Dee@He yewueWme Meer SkemeHeespej Hee@efuemeer, (Iejsuet) efye]pevesme keeverveter Hueeefvebie Hee@efuemeer, efHeuej III, Iees<eCee veerefle, m^sme sm Hee@efuemeer, m^sme sm esce Jeke&, Heefjeeueve peesefKece HeyebOeve veerefle, Deebleefjke Hetbpeer Heee&Hlelee Deekeueve Heefeee (DeeF&meerSSHeer), $e+Ce peesefKece meceeHeve Deewj mebHeeefMJe&ke HeyebOeve veerefle nQ. peesefKece HeyebOeve keeee&vJeeve SJeb cee@veereEjie HeCeeueer 2008-09 ceW egveewleerHetCe& DeeefLe&ke HeefjefmLeefleeeW kes yeeJepeto Des efJeeere HeefjCeece oMee&es nQ. Yeejleere yeQkeeW kes efueS efJee Je<e& 2009-10 kee HeefjMe, Yeejleere efj]peJe& yeQke kes ke"esj efJeJeskeMeerue efJeefveeceeW, mJemLe efJeeere metekeeW Deewj mLeeeer jepevewefleke ceenewue ceW mekeejelceke efoKeeeer He[lee nw. efJeeere mesJee Geesie ceW yeQke kes meeceves meyemes ye[e peesefKece lejuelee peesefKece, $e+Ce peesefKece, ceekex peesefKece Deewj Heefjeeueve peesefKece neslee nw. lejuelee peesefKece : efueS efJeefYevve peesefKeceeW kee Deekeueve, HeyebOeve SJeb meceeHeve efkeee pee mekes. megueYe meboYe& kes efueS leLee yeQke ceW peesefKece HeyebOeve HeCeeueer kes efJeefYevve keee&HecegKeeW kees megueYe meboYe& SJeb ceeie&oMe&ve GHeueyOe kejJeeves keer ef< mes yeQke kes Heeme efveosMeke

17.5% jner, peyeefke 1 Je<e& Henues en 23% Leer. 19.8% Je<e&-oj-Je<e& peceejeefMeeeW

ceee&, 2009 ceW en 64.4% jne peye efke ceee&, 08 ceW en 73.6% Lee.

GlHeeo, vetkeueerej Heetue, ueesne SJeb FmHeele, FbpeerefveebeEjie, efvecee&Ce Deewj jmeeeve Deewj jmeeeve GeesieeW ceW ngDee. peyeefke $e+Ce efJemleej keer ieefle ess GeesieeW SJeb

peesefKece HeyebOeve :
efJeefYevve Hekeej kes efJeeere peesefKece G"evee yeQefkebie JeJemeee kee DeefYevve Yeeie nw. yeQke Dee]@He ye[ewoe kes Heeme cepeyetle SJeb Skeerke=le peesefKece HeyebOeve HeCeeueer nw pees en

lejuelee peesefKece Jen peesefKece nQ peye yeQke kes Heeme DeHeveer oseleeDeeW SJeb Jeeve

nesles nQ, peye Jes ose nesles nw DeLeJee yeQke kees DeefOeke ueeiele Hej Gvns HeeHle kejvee He[lee nw. Je<e& 2008-09 keer otmejer Deewj leermejer efleceener ceW JewefMJeke efJeeere yeepeej

veerefle, peesefKece HeyebOeve keeee&vJeeve Deewj efveiejeveer HeCeeueer Meeefceue nw. peesefKece HeyebOeve {ebee yeQke keer peesefKece #ecelee Deewj HeYeeJeer peesefKece HeyebOeve keer meceie efpeccesoejer efveosMeke ceb[ue Deewj yeQke kes Meer<e& HeyebOeve Hej jnleer nw. efveosMeke ceb[ue ves efJeeere

meePesoejeW Hej lejuelee oyeeJe ye{e. efJeeere HeCeeueer ceW lejuelee ueeves kes efueS Yeejle mejkeej kes meeLe-meeLe Yeejleere efj]peJe& yeQke ves efJeefYevve DeeefLe&ke Deewj ceewefke

yeQke keer Deeefmle oseleeSb meefceefle (Suekees) keer mebHetCe& efpeccesoejer nw efke Jen yeQke kes lejuelee peesefKece Hej Hetjer lejn mes efveiejeveer jKes. lejuelee peesefKece kees mebie"veelceke

35

efveosMekeeW keer efjHees&

ceeme HeKeJee[s keer ieefleMeerue Deblejeue efjHeeseX kes ceeOece mes ieefleMeerue DeeOeej Hej Deebkee peelee nw. me@ke efmLeefle kes Debleie&le yeQke ves, owefveke DeeOeej Hej GOeej

Heer[er SJeb Suepeer[er kee Devegceeve ueieeves kes DeueeJee, $e+Ce esef[ jsefbie cee@[ue yeQke keer keg Deve lejerkeeW mes Yeer meneelee kejsiee, pees Fme Hekeej nQ : peesefKece Yeeefjle HeefjmecHeefeeeW keer ieCevee kes efueS jsefbie DeeOeeefjle ef<keesCe kees DeHeveevee. efveefnle $e+Ce peesefKece kees Oeeve ceW jKeves nsleg efJeMes<e $e+Ce megefJeOee kee cetueebkeve.

ieefleefJeefOeeeW kes efueS Deveske megj#eelceke GHeee efkeS nQ. peesefKece HeyebOeve efJeYeeie kes Debleie&le keee&jle Deeefmle oseleeSb HeyebOeve (ALM) ke#e owefveke DeeOeej Hej lejuelee

meceie $e+Ce peesefKece kees ceeHevee Deewj Gmekee cetueebkeve kejvee Deewj DeHesef#ele $e+Ce peesefKece mebefJeYeeie kee cetueebkeve kejvee. HeefleHe#e kes mlej Hej $e+Ce peesefKece kee cetueebkeve kejves kes Deefleefjkele yeQke kes Heeme mebefJeYeeie mlej Hej $e+Ce peesefKece kee cetueebkeve kejves kes efueS GHeegkele Heefeee SJeb

lejuelee Deblejeue mebyebefOele mecee DeJeefOe ceW t meercee mes DeefOeke veneR neslee nw. mHesMeueeFp[ Fberiess[ ^spejer MeeKee, cebgyeF&, mebHetCe& efJeosMeer cege mes mebyebefOele efveJesMeeW kes mebyebOe ceW osMeere lejuelee kee cetueebkeve kejleer nw. efJeosMeer Heefjeeueve kes mebyebOe ceW Heleske wjerwjer efveOee&efjle mecee DeJeefOe Hej cegeJeej lejuelee efmLeefle kee cetueebkeve kejleer nw. efveeefcele DeblejeueeW Hej Deekeefmcekelee kes ceeceues ceW efveefOeeeW keer DeeJeMekeleeDeeW kee Yeer Deekeueve kejleer nw. efveeefcele DeblejeueeW Hej Deekeefmcekelee kes ceeceues ceW efveefOeeeW keer DeeJeMekeleeDeeW kee Yeer Deekeueve efkeee peelee nw leeefke efkemeer Yeer DeeHeele efmLeefle mes efveHeves kes efueS yeQke leweej jn mekes. yeQke ves DeHeveer lejuelee efmLeefle keer JeJemLee, efJeefYevve Hekeej kes pecee DeeOeej, ye[er pecee jeefMe kes mlej Hej efveeb$eCe kejkes Deewj yeepeej keer meeceeve efmLeefleeeW kes Debleie&le Leeske efveefOeeeb HeeHle kejkes keer nw. yeQke kes Heeme Yeejer cee$ee ceW efJeHeCeve

kes Heefleketue HeYeeJeeW kees kece efkeee pee mekes. yeepeej peesefKece yeepeej peesefKece Jen peesefKece nw pees yeepeej kees HeYeeefJele kejves Jeeueer ceoeW DeLee&le

efJeeere efueKeleeW kes cetue Hej Heefleketue HeYeeJe [euelee nw. yeepeej peesefKece HeyebOeve kee GsMe yeQke keer Deee Deewj FefkeJeer kes meeLe legueve-He$e SJeb mebjeveelceke efmLeefle kees #eefle Hengbeeves Jeeues DeleefOeke SkemeHeespej mes yeeves Deewj efJeeere efueKeleeW pewmes HeefleYetefleeeW efJeosMe efJeefveece mebefJeoeSb, FefkeJeer leLee [sjerJesefJe efueKeleeW ceW efveefnle

ueeee pee mekelee nw. ceW yeQke kes mece#e cegKe peesefKece, yeQke keer Deeefmle-oselee HeyebOeve keee&keueeHeeW kes $e+Ce peesefKece $e+Ce peesefKece Ske Ssmee peesefKece nw efpemeceW efJeeere uesve-osveeW kee Heefle He#e DeHeves cege efmLeefle Hej efJeosMeer cege peesefKece vekeoer DeLeJee efveefOeiele peesefKece Deewj ^sef[bie Hees&HeesefueeeW Hej cetue peesefKece nw. yeQke ves yeepeej peesefKece mes yeeves kes efueS mHe< meceefvJele ^spejer HeyebOeve veerefle Deewj Deeefmle oselee HeyebOeve veerefle yeveeF& nw. Fve veerefleeeW ceW HeyebOeve veerefleeeW, HeefeeeDeeW,

nw. $e+Ce peesefKece HeyebOeve keer Heefeee ceW Heneeve HeefjceeHeve DevegHeJele&ve Deewj $e+Ce efveJesMe Hej efveeb$eCe Meeefceue nw.

veerefle, yewueWme Meer ceW meefcceefuele ve keer peeves Jeeueer efveJesMe-ceo Deeefo pewmeer efJeefYevve veerefleeeb nQ efpeveceW yeQke ves $e+Ce peesefKeceeW kes efueS efJeefYevve efJeJeskeHetCe& megj#ee GHeee efkeS nQ. yeQke ves Deeweesefieke DeOeeve Yeer efkeS nQ leeefke GeesieeW kes Debleie&le, peneb yeQke ves Yeejer cee$ee ceW efveJesMe efkeee nw, Heeefuele peesefKeceeW kee Helee ueie mekes Deewj Fmemes GYejles ngS GeesieeW keer Heneeve Yeer nes mekes. Heefjeeueve HeoeefOekeeefjeeW kees Fve Deeweesefieke efjHeeseX keer metevee Yeer oer ieF& nw leeefke Fve GeesieeW kees GOeej osles mecee Gve Hej efJeeej efkeee pee mekes. yeQke ves efJeefYevve $e+Ce jsefbie cee@[ume Yeer DeHeveeS nQ leeefke efkemeer Yeer efJeMes<e $e+Ce kes uesveosve ceW meceeefnle $e+Ce peesefKece kes mlej kees Debekee pee mekes. yeQke DeefOekelej JeeJemeeefeke $e+CeeW (Jeefkeleiele $e+CeeW kes Deefleefjkele) kes $e+Ce peesefKece kee Helee ueieeves kes efueS efJekeefmele, jesyem cee@[ue jsefbie kee GHeeesie Yeer kejlee nw. es jsefbie cee@[ue Devegceeefvele etke (Heer[er) keer mebYeeJevee etke mes nesves Jeeueer neefve (Suepeer[er) Deewj efkemeer efJeMes<e HeefjmecHeefe mes nesves Jeeueer DeHeleeefMele neefve kee Helee ueieeves keer #ecelee jKeles nQ.

yeepe oj peesefKece kee Deekeueve yeepe oj DeefmLejlee Devlej efjHees& leLee peesefKece Deee kes DeeOeej Hej efkeee peelee nw. Fmekes DeueeJee yeQke, DeJeefOe, mebMeesefOele DeJeefOe, efveJesMe Hees&Heesefueees nsleg peesefKece cetue, efpemeceW mLeeeer Deee HeefleYetefleeeb, FefkeJeerpe leLee ceeefmeke DeeOeej Hej efJeosMeer efJeefveece efmLeefle keer ieCevee kejlee

(SveDeejDeeF&) leLee oerIe& DeJeefOe yeepe peesefKece keer cee@efveeEjie FefkeJeer kes DeeefLe&ke cetue (F&JeerF&) kees Oeeve ceW jKeles ngS kejlee nw. ^spejer kes meboYe& ceW Jesuet S efjmke keer ieCevee 99% kee@veefHe[Wme uesJeue Hej 10 efove keer nesefu[bie DeJeefOe kes DeeOeej Hej keer peeleer nw. DeefmLejlee efJeMues<eCe leLee FefkeJeerpe kes ceeOece mes efmLej yeepe efveJesMe Hees&HeesefueeeW keer m^sme peebe HeefjefmLeefleiele efJeMues<eCe kes ceeOece mes

Hej yeQke, FefkeJeer HeYeeJe kes DeeefLe&ke cetue kee efleceener DeeOeej Hej Deekeueve kej jne nw.

36

efveosMekeeW keer efjHees&

Heefjeeueve peesefKece Heefjeeueve peesefKece Ske Ssmee peesefKece nw efpemeceW DeHeee&Hle DeLeJee DemeHeue pewmee efke THej yeleeee ieee nw, Heefjeeueve peesefKece HeyebOeve meefceefle Jen HeeefOekeejer nw efpemekeer yeQke kes Heefjeeueve peesefKece Hej efveebb$eCe jKeves keer efpeccesoejer nw. yeQke,

Yeejleere efj]peJe& yeQke kes yeepeej DevegMeemeve efoMee-efveoxMeeW kes efHeuuej 3 kes Debleie&le Iees<eCee 30.09.2008 leLee 31.03.2009 kees keer ieF&. 31.03.2009 kees meceeHle Je<e& kes efueS efkeee ieee HekeerkejCe Jeeef<e&ke efjHees& kee Ske Yeeie nw Deewj Fmes yeQke keer JesyemeeF Hej HeoefMe&le efkeee ieee nw. 30.09.2008 kees meceeHle ceener kes efueS efkeee ieee HekeerkejCe Yeer yeQke keer Jesye meeF Hej HeoefMe&le efkeee ieee nw.

$e+Ce efveiejeveer keee&

Hej efJeefYevve Deueie-Deueie HesjeceerjeW Hej DeeOeeefjle Heefjeeueve peesefKece kes [ee kee efkeS peeles nQ. yeemesue II kee yeQke eje DevegHeeueve yeQke keer Yeejleere yeQkeeW kes yeere GHeefmLeefle meyemes ye[er efJeosMeer GHeefmLeefleeeW ceW mes Ske nw Deewj FmeefueS 31 ceee&, 2008 mes yeemesue II efoMeeefveoxMeeW kees ueeiet kejvee $e+Ce peesefKece kes efueS ceevekeerke=le ef<keesCe, Heefjeeueve peesefKece kes efueS cetue mebkesleke o=ef<keesCe Deewj meerDeejSDeej keer ieCevee nsleg yeepeej peesefKece kes DeJeefOe ef<keesCe kees DeHeveeee nw. Dele: yeQke ves yeemesue -I leLee yeemesue -II efoMeeefveoxMeeW kes lenle meceeveevlej DeeOeej Hej peesefKece Yeeefjle Deeefmle DevegHeele (meerDeejSDeej) ceW Hetbpeer keer ieCevee nw. yeQke yeemesue -II efoMee-efveoxMeeW kes lenle Heefjeeueve peesefKece nsleg Deefleefjkele Hetbpeer HeYeej kee Yeer HeeJeOeeve kej jne nw. yeQke kes meerDeejSDeej kees efvecveevegmeej meejebMeerke=le efkeee ieee nw : yeemesue I 31.03.2008 31.03.2009 12.91% 12.88% yeemesue II 12.94% 14.05%
n

$e+Ce efveiejeveer Ske Deleble cenlJeHetCe& keee& nw. yeQke kes Heeme DeeefmleeeW keer iegCeJeee ceW efiejeJe kees jeskeves Deewj $e+Ce mebefJeYeeie keer iegCeJeee ceW mecee Hej megOeejelceke keoce G"eves kes efueS efJeefYevve mlejes bHej Deefiece KeeleeW keer ceeefmeke peebe kes efueS

keeHeexjs mlej Hej ceneHeyebOeke keer osKejsKe ceW $e+Ce efveiejeveer kes efueS Ske Deueie mes efJeYeeie leLee Debeue Je #es$eere mlej Hej $e+Ce efveiejeveer kes efueS efJeYeeieeW kee ie"ve efmelebyej, 2008 ceW efkeee ieee nw. meYeer DebeueeW /#es$eere mlejes bHej yeQke keer Iejsuet

meYeer Debeue /#es$eere keeee&ueeeW ceW efmueHespe efveJeejke keee&-oueeW kee ie"ve efkeee ieee nw. yeQke ves DeeefmleeeW keer iegCeJeee, efJeMes<e Oeeve osves eesie #es$eeW/MeeKeeDeeW kes efJeMes<e Oeeve efkeee nw. keeHeexjs mlej Hej $e+Ce efveiejeveer efJeYeeie kes cetue GsMe efvecve Hekeej efveOee&efjle efkeS ieS nQ :
n

DemJemLelee kees Heneevevee. peye keYeer Yeer efkemeer Keeles ceW $e+Ce iegCeJeee keer #eefle DeLee&le $e+Ce jsefbie ceW efiejeJe, Suemeer /ieejber keer oseleeDeeW kees Hetje kejves ceW osjer kejves Deewj yeepe /efkemleW Deeefo keer Deoeeieer ceW efJeuecye nesves kes mebkesle efceueles nQ lees GvnW jeskeves kes efueS mecee Hej GHeegkele SJeb megOeejelceke keoce G"evee. ke[er DevegJeleea keee&Jeener kes ceeOece mes Deeefmle JeieeakejCe SJeb $e+Ce jsefbie ceW Deeves Jeeueer efiejeJe kees jeskevee.

Yeejleere efj]peJe& yeQke ves yeemesue II peesefKece Deewj Heefjeeueve peesefKece keer ieCevee kes Gvvele ef<keesCe kes keeee&vJeeve

mecee keee&Jeener kejsiee. yeemesue II yeQke ves mecYeeefJele efJeefYevve peesefKeceeW kes HeefjHes#e ceW Deebleefjke Hebtpeer kee Deekeueve kejves kes efueS DeHeveer Deebleefjke Hetbpeer Deekeueve Heefeee veerefle (DeeF&meerSSHeer) leweej keer nQ.

kes efueS GHeegkele ceeceueeW leLee $e+Ceer kes meneesie Heoeve kejves kes DeeOeej Hej GHeegkele SJeb JeemleefJeke ceeceueeW ceW Deeies Deewj efJee Heoeve kejves kes ceeceueeW keer Heneeve kejvee.
n

KeeleeW keer meceer#ee SJeb efveece leLee MeleeX kes DevegHeeueve nsleg DeeJeMeke keoce keer iegCeJeee ceW megOeej ueevee.

egefkeleegkele Heefjeeueve kes efueS efkeee peelee jnsiee. Fme Hekeej keer efmLeefleeeb DeeefLe&ke, efJeefOeke, jepevewefleke, HeefjJesMeiele Deewj meeceeefpeke keejCeeW mes GlHevve nes
n

$e+Ce jsefbie ceW megOeej kejves kes Heeeme kejves kes Heeeme kejvee.

Deefiece KeeleeW kee Hegveie&"ve Gvekees Jenve kejves keer #ecelee kee JeCe&ve efkeee ieee nw. yeQke ves 30.09.2008 leLee 31.03.2009 kees yeQke keer Deebleefjke Hetbpeer efveOee&jCe Heefeee veerefle ceW leveeJe Hejer#eCe kes meeLe-meeLe Deebleefjke Hetbpeer efveOee&jCe Heefeee keer peebe kejJeeF& nw. ceboer kee meecevee kej jns JeemleefJeke $e+Cekelee&DeeW keer ceoo kejves kes efueS yeQke keer veerele f $e+Cekelee&DeeW kes DevegjesOe Hej kegske $e+Ce KeeleeW kees Hegveie&e"le efkeee nw. Fve KeeleeW kes f efJeJejCe efvecveevegmeej nQ.

37

efveosMekeeW keer efjHees&

Deefiece KeeleeW keer Hegve:mebjevee (osMeere) 2008-09

meer[erDeej cewkesefvepce

SmeSceF& Hegve:mebjevee 6606 819.47 187 20.05 2 0.97 6795 840.50

Deve

kegue

Hegveie&ef"le ceeveke Deefiece

$e+efCeeeW keer mebKee yekeeee jeefMe

3 199.91 1 16.70 0 0.00 4 216.61

31600 1577.05 1985 23.66 41 0.74 33626 1601.45

38209 2596.44 2173 60.41 43 1.72 40425 2658.56

Hegveie&ef"le DeJeceeveke Deefiece

$e+efCeeeW keer mebKee yekeeee jeefMe

Hegveie&ef"le mebefoiOe Deefiece

$e+efCeeeW keer mebKee yekeeee jeefMe

kegue

$e+efCeeeW keer mebKee yekeeee jeefMe

Fmekes Deefleefjkele Debleje&<^ere Heefjeeueve ceW yeQke ves Je<e& 2008-09 kes oewjeve kes Heeueve keer peebe kejlee nw. yeQke ves Ge cetue Jeie& kes Deefiece KeeleeW ceW yeQke $e+Ce mebbefJeYeeie keer Deeefmle iegCeJeee ceW megOeej ueeves kes efueS KeeleeW keer MeerIe meceer#ee, efveece SJeb MeleeX kee DevegHeeueve, efveeefcele MeeKee efvejer#eCe efjHees& efveeb$eCe kes efueS cenlJeHetCe& meeOeve nw keeeWefke en Heefjeeueve mlej Hej yeQke kes ceeveob[eW kes DevegHeeueve efmLeefle mes yeQke kes Ge HeyebOeve kees efJemle=le Heer[yewke Heoeve kejleer nw. Fmekes DevegHeeueve keer cee@efveeEjie megOeej HeceeCe-He$e kes ceeOece mes keer peeleer nw. meYeer MeeKeeSb peesefKece DeeOeeefjle Deebleefjke uesKee Hejer#ee kes lenle keJej nQ. peesefKece

keer nw.

DeeefLe&ke Deemetevee FkeeF&

yeQke kes keeHeexjs keeee&uee ceW keee&jle efJeMes<e DeeefLe&ke Deemetevee FkeeF&, veerefleHejke JeJemeee Deeeespevee, efveJesMeke mebyebOe SJeb $e+Ce leLee yeepeej peesefKece HeyebOeve pewmes peesefKece cesef^keme kes Devegmeej nw, pees efke Ge peesefKece Jeeues #es$eeW Hej HeeLeefcekelee kes DeeOeej Hej Oeeve keWefle kejves kes efueS ebves ceW HeyebOeve keer ceoo kejlee nw.

Ge HeyebOeve Jeie& leLee yeQke keer efJeefYevve Heefjeeueve FkeeFeeW kees mecee-mecee Hej HecegKe #es$eeW ceW pewmes Deeweesefieke SJeb mebie"veelceke efJekeeme, cege-mHeerefle, yeepe oj, me@ke mebeeueve, $e+Ce efJemleej SJeb yeQefkebie GeesieeW nsleg mebmeeOeve pegevee, lejuelee

DeeOeej Hej keer peeleer nw. MeeKeeDeeW kes efveeefcele efvejer#eCe kes Deefleefjkele, yeQke ceW keF& Deve efvejer#eCe pewmes Deveg<ebefieeeW, meneeke FkeeFeeW, keeHeexjs, HeOeeve keeee&uee, HeefMe#eCe kesbeW, HeMeemeefveke keeee&ueeeW leLee efJeosMeer MeeKeeDeeW kes efvejer#eCe Yeer efkeS peeles nQ. es

FkeeF& yeQke kes Deeefmle -oselee HeyebOeve HebkeMeve kees HetCe& meneelee Yeer osleer nw. JeeHeke DeeefLe&ke HenuegDeeW keeHeexjs #es$eeW keer efmLeefle Deewj efJeeere #es$eeW keer veerefleeeW keer yesnlej mecePe Heoeve kejkes, en efJeYeeie JeeJemeeefeke DeJemejeW kees HeeHle kejves nsleg yeQke kes HeeemeeW ceW DeHevee meneesie oslee nw Deewj yeepeej keer ieefleMeeruelee kees peevekeejer oslee nw. nQ leLee yeQke kes efveeb$eke keeee&ueeeW, Fmekeer Deveg<ebefieeeW leLee #es$eere ieeceerCe yeQkeeW keer cewvespeceW Dee@ef[ keer peeleer nw. Je<e& 2008-09 kes oewjeve osMeYej kes Debeue efvejer#eCe keWeW kes efvejer#eCe DeefOekeeefjeeW ves Iejsuet MeeKeeDeeW kes 2374 efvejer#eCe efkees. efJeosMeeW ceW lewveele Deebleefjke uesKee

Deebleefjke efveeb$eCe Heefle

yeQke ceW Ske megJeJeefmLele keWere efvejer#eCe Je uesKee Hejer#ee HeYeeie nw pees efke et.kes. Heefjeeueve, Kee[er osMeeW Deewj efHepeer ceW HeyebOeve uesKee Hejer#ee keer ieF&. yeQke keer meceJeleea uesKee Hejer#ee ceW 508 MeeKeeDeeW kee meceeJesMe nw efpemeceW efveefOeeeW Deewj efveJesMe HeyebOeve leLee yeQke keer efJeosMeer cege HeefjeeueveeW kee keee& osKeves Jeeueer efJeMes<e Skeerke=le ^spejer MeeKee Yeer Meeefceue nw.

nw. Yeejleere efj]peJe& yeQke, Yeejle mejkeej, efveosMeke ceb[ue leLee efveosMeke ceb[ue keer uesKee Hejer#ee meefceefle (Smeeryeer) mes Deebleefjke efveeb$eCe kes efJeefYevve ceeceueeW Hej HeeHle

kee Ske efnmmee yeve ieS nQ. keWere efvejer#eCe Je uesKee Hejer#ee HeYeeie, DeHeves 10

peesefKece HeyebOeve kee keee& osKee peelee nw. Fmeces Yeejleere efj]peJe& yeQke kes DevegosMeeW

nw. kesJeeF&meer /SSceSue (DeLee&le vees eesj kemceme& leLee Sber ceveer ueeb[eEjie Fleeefo

38

efveosMekeeW keer efjHees&

ceW, 2020 ye[s Keelees kee $e+Ce uesKee Hejer#eCe efkeee ieee peesefke yekeeee DeefieceeW kee 63.54% keJej kejles nw. $e+Ce uesKee Hejer#eCe nsleg Jele&ceeve Je<e& keer meYeer Hee$e KeeleeW keer efjHeeseX kees osKee

kees[ Heleske ieenke leke Hengbeeves keer JeJemLee keer leLee yeQke keer JesyemeeF Hej Yeer kees[ kees HeoefMe&le efkeee ieee. MeeKeeSb, Keelee Keesueles mecee ieenkeeW kees pecee SJeb

ieenke mesJee meefceefleeeb 1. GvnW yebo efkeee ieee. meceJeleea uesKee Hejer#ee ceW efJeosMeer cege [erefuebie leLee Iejsuet efveJesMeeW kee 100% keejesyeej kes DeueeJee yeQke kes kegue keejesyeej kee 63% Meeefceue nw. kesvere efvejer#eCe leLee uesKee Hejer#ee efJeYeeie Yeejleere efj]peJe& yeQke kes DevegosMeeW 2) eer Jeer mebleevejeceve 3) eer jepeerJe kegceej ye#eer Yeejleere efj]peJe& yeQke keer efjmke HeesHeeFue scHeues kes Devegmeej yeQke kee meceie peesefKece mlej vetve nw leLee Gmekeer efoMee efmLej nw. 4) eer S. meescemegbojced : keee&keejer efveosMeke : keee&keejer efveosMeke : efveosMeke yeQke ceW ieenke mesJee kes mebyebOe ceW efveosMeke ceb[ue keer Ske GHemeefceefle keee&jle nw. 31.03.2009 kees meefceefle kes meomeeW kes veece Fme Hekeej nQ : 1) eer Sce. [er. ceuee : DeOe#e SJeb HeyebOe efveosMeke efveosMeke ceb[ue keer ieenke mesJee meefceefle :

Hejer#eCe ke#eeW kes ceeOece mes eeefvele MeeKeeDeeW keer metevee HeCeeueer uesKee Hejer#ee keer ieF& Deewj keesj yeQefkebie meceeOeeve (CBS) ceW efMeHe nes jner MeeKeeDeeW kee [ee ceeFiesMeve Deeef[ Yeer efkeee ieee. yeQke ves Debeue efvejer#eCe kesveW ceW keee&jle efvejer#eCe DeefOekeeefjeeW nsleg metevee megj#ee uesKee Hejer#eCe, [ee ceeFiesMeve uesKee Hejer#eCe leLee peesefKece DeeOeeefjle Deebleefjke uesKee Hejer#eCe Hej HeefMe#eCe keee&ece Deeeesefpele efkeS. Je<e& kes oewjeve Fmeer lejn kes HeefMe#eCe keee&ece meceJeleea uesKee Hejer#ekeeW nsleg Yeer Deeeesefpele efkeS ieS. yees[& keer uesKee Hejer#eCe meefceefle kees meceer#ee nsleg Hemlegle keee&meteer ceW yeQke kes meceie uesKee Hejer#eCe keee& kee meceeJesMe nw. yees[& keer uesKee Hejer#eCe meefceefle kes efveoxMeeW kee DevegHeeueve keer ieF& keej&JeeF& efjHeeeX (SerDeej) HeCeeueer kes ceeOece mes

efveosMeke ceb[ue keer GHemeefceefle kes keeeeX ceW Meeefceue nQ - ieenke mesJee keer iegCeJellee ye{eves nsleg veJeesvces<eer GHeeeeW kes megPeeJe osvee Deewj Gvns keeee&efvJele kejvee Deewj meYeer JeieeX kes ieenkeeW keer meblegef< kes DeeOeej kees Deewj nj mecee DeefOeke efJekeefmele kejvee. meefceefle kes keeeeX ceW efvecveefueefKele Yeer Meeefceue nQ (i) ueeske mesJee mebyebOeer Heefeee Deewj keee&efve<Heeove mebyebOeer uesKee Hejer#eCe keer mLeeeer meefceefle kes keeeex keer osKe jsKe leLee ieenke mesJee keer mLeeF& meefceefle keer efmeHeeefjMeeW kee DevegHeeueve kejvee.

(ii mes 3 ceen mes DeefOeke DeJeefOe nesves Hej keeee&efvJele vener efkeS ieS leLee yeQefkebie mesJeeS Heoeve kejves ceW HeeF& ieF& keefceeeW keer efmLeefle keer meceer#ee kejvee. (iii) ce=leke peceekelee&DeeW / uee@kej OeejkeeW/ megjef#ele DeefYej#ee kes peceekelee&DeeW mes mebyebefOele Ssmes oeJes, pees 15 efoveeW mes DeefOeke DeJeefOe mes efveHeeve nsleg ueefcyele / yekeeee jns, Gvekeer meceer#ee kejvee.

keer DevegHeeueve efjHees& yees[& keer uesKee Hejer#eCe meefceefle kes mece#e meceer#ee nsleg Hemlegle keer peeleer nw.

Heefjeeueve SJeb mesJeeSb

yeQke eje 2008-09 ceW G"eS ieS ieenkeesvcegKe keoce Je<e& 2008-09 kes oewjeve yeQke ves Jeefkeleiele SJeb iewj Jeefkeleiele oesveeW esefCeeeW kes

31.03.2009 kees meceeHle Je<e& kes oewjeve efveosMeke ceb[ue keer ieenke mesJee meefceefle keer yew"keW 21.05.2008, 11.10.2008, 26.03.09 kees Deeeesefpele keer ieF& efpeveces GHeefmLeefle efvecveevegmeej Leer : efveosMeke kee veece DeJeefOe Gvekes keee&keeue kes yeQ"keW, oewjeve Deeeesefpele efpeveceW Yeeie yeQ"keW efueee 3 3

kejves keer ef< mes Ske ceeie&oMeea vees SJeb metevee Heef$ekee Yeer leweej keer. eer Sce. [er. ceuuee Jeefj<" veeieefjkeeW kes Keeles ceW efveOee&efjle jeefMe mes kece vetvelece Mes<e jnves kes ceeceues ceW Henueer yeej vetvelece Mes<e mes kece Mes<e jnves Hej keesF& Hesveuer ve ueieeves kes efJelle ceb$eeuee kes efveoxMeeW kee yeQke ves efeeevJeeve efkeee. iegceMegoe JeefkeleeeW kes Keeles ceW 07.05.2008 mes 31.03.2009 01.04.2008 mes 31.03.2009 01.04.2008 mes 05.11.2008

eer Jeer. mebleevejeceve

eer Sme. meer. iegHlee ces keeee&efvJele keer ieF&. DevegHeeueve yeQke ves kees[ kes yeejs ceW DeHeves ieenkeeW SJeb DeHeves meHe meomeeW ceW JeeHeke eer S. meescemegbojce

eer jepeerJe kegceej ye#eer 06.11.2008 mes 31.03.2009 01.04.2008 mes 31.03.2009

39

efveosMekeeW keer efjHees&

2.

ieenke mesJee mebyebOeer mLeeeer meefceefle efveosMeke ceb[ue keer GHe meefceefle kes Deefleefjkele , yeQke cess ieenke mesJee mebyebOeer Heefeee SJeb efve<Heeove uesKee Hejer#ee keer mLeeeer meefceefle nww. (Yeejleere efj]

leLee MeeKeeDeeW kee kes.Jeee.meer. Deeef[ nsleg meOeve Heeeme efkees pee jns nQ.

meleke&lee
Ske efJelleere mebmLee nesves kes veeles pevemeeOeejCe kes Heefle yeQke kee en efJeMes<e oeefelJe kes keee&keejer efveosMeke FmeceW DeOe#e nQ. en meefceefle pevemeeOeejCe kees GHeueyOe yeQefkebie mesJeeDeeW keer DeHeee&Hlelee Hej Oeeve kesefvle kejves kes meeLe meeLe (i) Jele&ceeve mesJee kee DeeOeej (ii) mecee-mecee Hej Heieefle keer meceer#ee (iii) mecee SJeb iegCeJellee ceW megOeej (iv) Heeweesefiekeer Heieefle kes keejCe Heefeee kees DeefOeke mebiele yeveevee leLee (v) HeefjJele&veeW kees melele DeeOeej Hej megieener yeveeves nsleg Gefele Heeslmeenve kee megPeeJe osves kes efueS ieef"le keer ieF& nw.

#es$e ceW efJeMes<e Heefle<"e Deefpe&le keer nw pees efke Oeve keer megj#ee, eewkemeer, meleke&lee kes Heefle meHe meomeeW kes keef"ve Heefjece Deewj efvepeer kele&Jeefve<"e kees Heefjueef#ele kejlee nw. yeQke ves mecee kes Deblejeue ces HeCeeefueeeb Deewj HeefeeeSb efJekeefmele keer nQ pees efke mecee kes meeLe Kejer meeefyele ngF& nQ. leLeeefHe Heeweesefiekeer mes egkele yeQefkebie kes HeefjHes#e

DeHeves ieenke kees peeefveS (kesJeeF&meer) leLee keeues Oeve kees jeskeves nQ. Ssmes HeeemeeW kees DemeHeue kejves keer HeCeeefueeeW keer mecee mecee Hej meceer#ee mebyebOeer GHeee keer peeleer nw Deewj meHe meomeeW keer kegMeuelee kees DeefOeke ye{eves kes Heeeme efkeS
keeues Oeve kees jeskeves mebyebOeer DeefOeefveece 2002 keer MeleeX leLee Yeejleere efj]peJe& yeQke Deewj Yeejleere yeQke mebIe kes efoMee efveoxMeeW kes Devegmeej yeQke kes efveosMeke ceb[ue ceeceueeW ceW Meeefceue jeefMe ceW lespe efiejeJe DeeF& nw. yeQke ves keejesyeej keer cee$ee ceW

efke kes.JeeF&.meer. ceevekeeW leLee keeues Oeve kees jeskeves mebyebOeer GHeeeeW kees keeee&efvJele kejveW kee DeeOeej nw, Yeejleere efj]peJe& yeQke kes ceemj HeefjHe$e kes DeeOeej Hej ceee& 2009 ceW mebMeesefOele keer ieF&. keer Kejero SJeb efveefJeoe HeefeeeDeeW ceW DeefOeke HeejoefMe&lee ueeves kes efueS efveefJeoeSb yeQke ceW kes.JeeF&.meer.-S.Sce.Sue. keeee&vJeeve keer HecegKe efJeMes<eleeSb Fme Hekeej nQ n

kes ceeOece mes GvnW efJelleere Deemetevee FkeeF& kees Hemlegle kejvee.
n

mebefJeoeDeeW kee meejebMe yeQke keer JesyemeeF Hej DeefOekelece Heeej osves keer ef< meW HeoefMe&le efkeee peelee nw. yeQke ves ie=n SJeb efMe#ee $e+CeeW kes mebyebOe ceW efmLeefle kee Helee ueieeves kes efueS Dee@ve ueeFve DeeJesove keer Yeer JeJemLee keeee&efvJele keer nw. HeCeeueer ceW Gllece keesef keer megj#ee ueeves Deewj ieenkeeW kees megjef#ele HeefjJesMe kes Heefle

keeee&vJeeve.
n

efkeee pee jne nw. efJelleere Deemetevee FkeeF& kees Hemlegle kejvee.

keejesyeej efve<Heeove
n

(S.Sce.Sue. GHeeeeW mes) kejvee .

n

2008-09 kes oewjeve JeJemeee efJekeeme kes #es$e ceW yeQke keer HecegKe GHeueefyOeeeW kee yeewje veeres efoee ieee nw. mebmeeOeve mebienCe leLee Deeefmle efJemleej

kejvee. kes.JeeF&.meer. kes HetCe& DevegHeeueve mes meHe kes meeLe-meeLe ieenke efMe#eCe yeeOekeejer nes peelee nw efpemekes efueS yeQke ves efvecveefueefKele keoce G"eSb nQ :
n

31 ceee&, 2009 kees kegue mebmeeOeveeW keer leguevee ceW yeQke keer pecee jeefMeeeW keer DebMeOeeefjlee 84.60% 26.55% Jeeueer peceejeefMeeeW kee cenllJeHetCe& Ieke nQ, ceW 18.76% peceejeefMeeeW ceW kece ueeiele Jeeueer peceejeefMeeeW (eeuet SJeb pecee) keer DebMeOeeefjlee 29.59% jner Deewj Iejsuet peceejeefMeeeW keer leguevee ceW en HeefleMele 34.87% jne. ngS kece ueeiele Jeeueer peceejeefMeeeW keer leguevee ceW ceereeoer peceejeefMeeeW kes Heefle

Hej ieenkeeW kes ueeYe kes efueS kes.JeeF&.meer. omleeJespeeW keer Hetjer meteer HeoefMe&le nw.

www.bankofbaroda.com)

kes.JeeF&.meer. mes mebyebefOele meboYe& meeceieer GHeueyOe kejeF& ieF& nw.

n

mes HeefMe#eCe keee&ece Deeeesefpele efkees peeles nw.

n

Je<e& 2008-09 kes oewjeve Iejsuet Deefiece ceW 29.32% kes efJemleej Deewj efJeosMeer Deefiece Deeeesefpele efkees pee jns nQ.
40

efveosMekeeW keer efjHees&

ceW 56.3% kes efJemleej mes yeQke kee JewefMJeke Deefiece ye{kej 34.94% nes ieee. en GuuesKeveere nw efke efJeosMeer Deefiece efJemleej ceW Je<e& 2008-09 kes oewjeve cege cetue neeme (et Sme [e@uej keer leguevee ceW 26.9% kes Devegece ceW) kee HeYeeJe Yeer meceeefJe< nw. efveefOeeeW kee efceeCe - JewefMJeke efJeJejCe ceee& 2008 kees kejes[) peceejeefMeeeb - Iejsuet - efJeosMeer - GOeej JewefMJeke Deefiece efJeJejCe ceee& 2008 kees kejes[) Deefiece - Iejsuet - efJeosMeer nesuemesue yeQefkebie neue kes Je<eeX ceW Yeejle ceW ye[s efvepeer SJeb efJeosMeer yeQkeeW ceW DeHeveeF& pee jner Deeeeceke 1,06,701.32 84,503.30 22,198.02 1,43,985.90 1,09,283.00 34,702.90 34.94 29.32 56.33 ceee& 2009 kees meceeHle Je=ef (%) 1,52,034.13 1,22,479.35 29,554.77 3,927.05 1,92,396.95 1,51,408.99 40,987.96 5,636.08 26.55 23.62 38.68 43.52 ceee& 2009 kees meceeHle Je=ef (%)

efvejblej yeoueles yeQefkebie HeefjJesMe ceW yesnlej keewMeue keer cenee kees mecePeles ngS esef[ HeefMe#eCe nsleg veeefcele kej o#e yeveeves nsleg keejiej keoce G"eS ieS nQ. Kegoje JeJemeee : Je<e& 2008-09 kes oewjeve yeQke keer keejesyeejer GHeueefyOeeeb neefmeue kejves kes efueS efjsue JeJemeee HecegKe #es$e yevee jne. DeeefmleeeW SJeb oseleeDeeW oesvees HenuegDeeW ieenkeesvcegKe GHeee Yeer efkeS nQ.

ieF&. Fme DeJeefOe kes oewjeve yeQke kee cegKe Oese DeeefmleeeW keer iegCeJeee kees yeveeS jKevee DeLeJee FveceW megOeej kejvee Deewj Kegoje $e+Ce Hees&Heesefueees kees yesnlej yeveevee jne. FmeefueS ye[ewoe keej ueesve leLee ceeiexpe DeeOeeefjle GlHeeoeW eLee ye[ewoe nesce ueesve, ye[ewoe ^s[me& ueesve SJeb ye[ewoe S[Jeebme Deiesvm Hee@Heea Hej efJeMes<e Oeeve keWefle efkeee ieee. DeefOekeeefOeke egJeeDeeW kees DeHeves meeLe pees[ves kes GsMe mes Je<e& kes oewjeve ye[ewoe efMe#ee $e+Ce keer Deesj Yeer efJeMes<e Oeeve efoee ieee. FveceW ceee&, 2008 keer leguevee ceW 13.51% Je<e& kes oewjeve ceeiexpe keer SJepe ceW DeefieceeW, efMe#ee $e+CeeW leLee keej $e+CeeW ceW eceMe: 31.47%, 32.67% leLee 51.24% yeQke kee ncesMee en Heeeme jne nw efke yeQke kes meYeer ceewpetoe GlHeeoeW keer efJeMes<eleeDeeW eLee efmLeefle DeHesef#ele megOeej efkeee peeS. meceepe kes efJeefYevve JeieeX leLee DeHeves ieenkeeW keer yeQefkebie DeeJeMekeleeDeeW kees Oeeve ces bjKeles ngS Je<e& kes oewjeve veS yeQefkebie

veS Kegoje GlHeeo : yeQke kee $e+CeeW mes mebyebefOele DeeOee keejesyeej nesuemesue yeQefkebie mes ner Deefpe&le neslee nw, yeQke ves Fme nsleg mecee-mecee Hej efJeefYevve JeeJemeeefeke cee@[ueeW, mesJee ceevekeeW, lJeefjle efjmHeebme leLee yesnlej Hengbe pewmeer keee&veerefleeeW kees DeHeveeee nw. yeQke ves keeHeexjs peiele keer DeeJeMekeleeDeeW kees Hetje kejves kes efueS yeQke ces ner ye[s SJeb ceOece keeHeexjs ieenkeeW kes efueS nesuemesue yeQefkebie MeeKeeDeeW keer mLeeHevee keer nw leLee Fmemes DeHesef#ele HeefjCeece Yeer neefmeue ngS nQ. DeHeves ieenke DeeOeej kees Deewj efJemle=le SJeb meg{ kejves kes efueS veS $e+Ce HemleeJeeW nsleg mJeerke=efle Heefeee kees Deewj egmle yeveeves kes GsMe mes Deueie mes `Heem ^wke' [smke mLeeefHele efkeee ieee nw leLee Deefiece mJeerke=le efkeS ieS leLee nceW en yeleeles ngS ieJe& nw efke nce yeQke kes meeLe ueieYeie 25-30 veS ieenke /mecetn pees[ves ceW meHeue jns nQ. Fmekes DeueeJee yesnlej HeMeemeefveke JeJemLee, cee@efveeEjie, efveeb$eCe leLee veee kejves nsleg yeQke keer keeHeexjs HeeFveWefmeeue MeeKeeDeesb kees DeHeves-DeHeves Debeue HecegKeeW kees efjHees& kejves kes efueS kene ieee nw. yeQke kes keeHeexjs keeee&uee ceW keee&jle keee&HeeuekeeW ves meerSHeSme MeeKeeDeeW /Debeue keeee&ueeeW ceW DeeJeefOeke Deblejeue ceW oewjs kejles ngS Heeru[ ceW keee&jle meHe kees Hesefjle kejves keer Henue keer nw leeefke veee JeJemeee Deefpe&le efkeee pee mekes leLee $e+Ce mJeerke=efleeeW kes meboYe& ceW MeerIe efveCe&e efueee pee mekes.

1.

yeeevee pecee nsleg $e+Ce : DeeJeeme /Heuew DeLeJee Huee@ keer yegefkebie nsleg Ske Deeefmle GlHeeo. DeefveJeemeer YeejleereeW kes efueS ye[ewoe Sef[Meveue SMees[& S[Jeebme : en megefJeOee HetJe& ceW efveJeemeer YeejleereeW kees GHeueyOe Leer efpemes Deye DeefveJeemeer YeejleereeW kes efueS Yeer GHeueyOe kejJee efoee ieee nw. ye[ewoe yeele efce$e : ceereeoer pecee jmeeroeW kees efiejJeer (peceevele) jKeles ngS yeele yeQke Keeles ceW DeesJej[^eHe megefJeOee Heoeve kejvee. Ge nwefmeele Jeeues /keeHeexjs ieenkeeW kees ye[ewoe keej ueesve : kebHeveer efJeMes<e kes kesJeue efveosMekeeW /keee&HeeuekeeW kes GHeeesie nsleg Ge nwefmeele HeeHle

2.

3.

4.

5.

mJeCe& DeeYet<eCeeW /DeeYet<eCeeW /mJeCe& efmekekeeW keer SJe]pe ceW ye[ewoe S[Jeebme keer Hetefle& nsleg.

6.

$e+efCeeeW kes efueS keg efjeeeleeW SJeb efve:Meguke yeercee keJej megefJeOee Jeeues efJeMes<e DeeJeeme $e+Ce Hewkespe HeebjYe efkeS ieS nQ.

41

efveosMekeeW keer efjHees&

GlHeeoeW ceW megOeej /mebJeOe&ve : 1. DeeJeeme $e+CeeW leLee Deve cee@iexpe DeeOeeefjle $e+CeeW keer keefceeeW kees otj kejves kes GsMe mes DeeJeeme $e+CeeW ceW ceeefpe&ve MeleeX kees mebMeesefOele efkeee ieee nw kejves kes efveoxMe efoS ieS nQ.

3.

efMe#ee $e+Ce leLee DeeJeeme $e+Ce Jeeues $e+efCeeeW kees efJeMes<e Hewkespe kes lenle mJeerke=le $e+CeeW nsleg peerJeve yeercee keJej GHeueyOe kejJeeves kes efueS cesmeme& keeske ceefnve Deesu[ cegegDeue ueeFHe FbMeesjWme efue. kes meeLe "eF-DeHe" JeJemLee keer ieF&. iewj efveefOe DeeOeeefjle Deee kees ye{eves kes efueS Je<e& 2007-08 kes oewjeve mJeCe& 09 kes oewjeve 354 efyeeer keWes (POS) mes mJeCe& efmekekeeW mes efyeeer kej kegue

4. 2. Deefleefjkele SMees[& Deefiece (AAA) HeeHle kejves nsleg mebHetCe& DeJeefOe kes oewjeve DeeJeeme $e+Ce keer Hee$elee kes leerve iegCee mes ye{ekej Heebe iegCee kej efoee ieee nw. Deye leke ceewpeto 26 efjsue $e+Ce GlHeeoeW kees Ieekej 9 HecegKe GlHeeoeW kes Hegve: JeJeefmLele kejvee. 5.

3.

$e+Ce DeefYeeeve : 1. 1 Dekeletyej, 2008 mes 9 veJebyej, 2008 leke keer DeJeefOe kes efueS "Kegoje $e+Ce ceneslmeJe DeefYeeeve" eueeee ieee leLee Fme oewjeve DeeJeeme $e+CeesW leLee keej $e+CeeW keer yeepe ojeW ceW 0.25% keer efjeeele leLee HeuesKeve SJeb Heefeeeiele HeYeejeW ceW 100% keer t Heoeve keer ieF&. DeefYeeeve DeJeefOe kes meefnle) kee $e+Ce JeJemeee efkeee ieee. 2. yeele yeQke mesieceW kes lenle oes yeele pecee DeefYeeeve eueeS ieS. Henuee DeefYeeeve 9 petve, 2008 mes 2 Deiemle, 2008 kes oewjeve eueeee ieee leLee kejes[ kee Lee. Fmeer Hekeej otmeje DeefYeeeve 2 HejJejer, 2009 mes 31 ceee&,

20 pegueeF&, 2008 mes DeeJeeme $e+Ce DeeJesove kee msme ^ske kejles ngS DeeJesokeeW kees Dee@veueeFve DeeJeeme $e+Ce DeeJesove kejves keer megefJeOee Heoeve keer ieF& nw.

mebHeoe HeyebOeve mesJeeSb : yeQke ves DeHeves DeeefLe&ke ef< mes mebHevve (HNI) ieenkeeW kees Ske ner mLeeve Hej meYeer efyeeer megefJeOeeSb GHeueyOe kejeves kes GsMe mes petve, 2004 mes ieenke GvcegKe GHeeeeW

{beeeiele HeefjJele&ve : 1. efjsue esef[ ef[ueerJejer efmemce Je<e& 2008 -09 kes oewjeve HeJeF& cegbyeF&, Deeieje, yejsueer, YeesHeeue, veeieHegj, Svee&keguece, peesOeHegj leLee veesS[e ceW -8-veF& Menjer efjsue ueesve Hewefke^eeb (etDeejSueSHe) HeejbYe keer ieF&. Fme Hekeej kegue Menjer efjsue ueesve Hewefke^eeW keer mebKee ye{kej -23- nes ieF&. pesve veskem MeeKeeSb : egJee Jeie& Hej Oeeve keWb efle kejves kes GsMe mes kes oewjeve oes pesve veskem MeeKeeSb Keesueer ieF&. Je<e& 2008-09 kes oewjeve -3- Deewj pesve veskem MeeKeeSb Keesueer ieF&. Fme Hekeej Fvekeer mebKee ye{kej DeeOegefveke megefJeOeeDeeW SJeb DeeOegefveke HeefjJesMe mes egkele nQ. Deve Heeeme (HenueW) : 1. DeeJeeme $e+CeeW leLee Deve ceeiexpe DeeOeeefjle $e+CeeW ceW keefceeeW kees otj kejves kes GsMe mes Hee$elee SJeb ceeefpe&ve MeleeX ceW megOeej nsleg Heeeme efkeS ieS nQ kejves kes Yeer DevegosMe efoS ieS nQ.

ceeOece mes peerJeve yeercee, iewj peerJeve yeercee, efpemeceW mJeemLe yeercee Meeefceue nQ, cegegDeue HeC[dme SJeb FefkeJeer ^sef[bie pewmeer Deve He#eere GlHeeoeW keer mesJeeSb Heoeve kej jne nw. Fve GlHeeoeW keer efyeeer nsleg eF-DeHe JeJemLee Jeeues meePesoejeW ceW peerJeve yeercee #es$e ceW Se[erSHemeer m@C[[& ueeFHe FbMeesjWme kebHeveer, pevejue FbMeesjWme #es$e ceW vesMeveue FbMeeWjsme kecHeveer efue., F&-^sef[bie #es$e ceW FefC[ee FvHeesueeFve efue. leLee cegegDeue HeC[ GlHeeoeW kes #es$e ceW nceejs mebegkele GHeece ye[ewoe Hee@eefveej Demes cewvespeceW kecHeveer efue. meefnle : HecegKe Demes cewvespeceW kecHeefveeeb Meeefceue nQ. yeQke ves JeJemeee keer ef< meW -13- eeefvele kesveW Hej efmLele MeeKeeDeeW ceW 'ye[ewoe ieesu[ uee@vpe' keer Yeer mLeeHevee keer nw. es MeeKeeSb yeQke kes megefJeOee mecHevve (HNI) ieenkeeW kees Glke=< efveJesMe HejeceMe& mesJeeSb Heoeve kejves kes efueS meceefHe&le mesJee

2.

GuuesKeveere iewj yeepe Deee HeeHle nes jner nw pees Fvekeer mLeeHevee kees meeLe&ke yeveelee nw. Sme.Sce.F&. keejesyeej Yeejle ceW ueIeg SJeb ceOece Gece DeLee&le Sme.Sce.F& #es$e ke=ef<e kes yeeo meyemes ye[e jespeieej Heoelee #es$e nw. DeeefOekeeefjke Deebke[s en oMee&les nQ efke Sme.Sce.F&. #es$e kegue Deeweesefieke FkeeFeeW kes 95% Yeeie kee HeefleefveefOelJe kejlee nw pees efke kegue Deeweesefieke GlHeeove kee 40% nw. es FkeeFeeb efJeefYevve #es$eeW ceW 8000 mes DeefOeke GlHeeoeW pewmes Heecee&metefkeume, leweej Jee, skemeeFue, Dee@es Geesie mes ]peg[s GlHeeo, DeeYet<eCe leLee meeHeJesej kee GlHeeove kejleer nQ. Sme.Sce.F&. mesieceW ceW mesJee #es$e kee eesieoeve efJeMes<ele: metevee Heeweesefiekeer meceefLe&le mesJeeSb, DeefleefLe melkeej mesJeeSb, Hee&ve, kegefjej, ^evmeHees& Deeefo #es$eeW ceW GuuesKeveere nw. Sme. Sce.F&. FkeeFeeb jespeieej me=efpele kejves ceW Yeer cenllJeHetCe& Yetefcekee efveYee jner nQ. yeQke ueIegGeefceeeW kes GlLeeve ceW meowJe DeieCeer Yetefcekee efveYeelee jne nw leLee yeQke ves DeHeves Sme.Sce.F&. ieenkeeW kes efueS mejue SJeb JeeHeke Sme.Sce.F&. Hee@efuemeer leweej

Fbef[ee efue., SJeb ceefnve SC[ ceefnve efue. kes meeLe mecePeewlee kejejeW (SceDeeset) Hej nmlee#ej efkeS ieS.

42

efveosMekeeW keer efjHees&

keer nw. Fmekes DeueeJee Yeejle ceW GYejles ueIeg SJeb ceOece GeefceeeW keer Deesj efJeMes<e

Je<e& 2008-09 kes oewjeve Sme.Sce.F&. keejesyeej ye{eves nsleg efkeS ieS veJeesvces<eer Heeeme :
n

ve&DeesJej Jeeueer Deve JeeefCeefpeke FkeeFeeW Hej Yeer efJeeej kejlee jne nQ. Sme.Sce.F&. #es$e kes GlLeeve kes efueS yeQke ves efJeMes<e SJeb veJeesvces<eer ef[ueerJejer cee@[ue
n

yeQke ves keg Jeenve efvecee&leeDeeW kes meeLe mecePeewlee kejej efkeS nQ leeefke Jes DeHeves [eruejeW / me[ke HeefjJenve HeeeuekeeW, pees DeHeves Jeenve Kejeroves kes Fgke nQ, kees efJeeere megefJeOee Heoeve kej mekeW.

Hej mesJeejle nQ Deewj yeepeej ceW Fvekeer Ske Deer Heneeve yeveer nw. Sme.Sce.F&. ueesve Hewkejer Sme.Sce.F&. $e+Ce HemleeJeeW kees mecee Hej Heesmesme kejves SJeb mJeerke=efleeeb $e+Ce Heoeve kejves kes efueS meer.peer.er.Sce.Sme.F&. kes meeLe mecePeewlee kejej efkeee. leLee $e+Ce HemleeJeeW kees efveele mecee meercee ceW mJeerke=le kejves nsleg meW^ue Heesmesefmebie mesue keer mLeeHevee Meeefceue nw. Menj kes efJeefYevve ceeFees mesieceWes ceW efmLele nceejer MeeKeeDeeW ceW keee&jle nceejW efjuesMeveefMeHe HeyebOekeeW keer erce mJeeb ieenkeeW kes Heeme peekej mJeerke=efle HetJe& efvejer#eCe mecyebOeer DeewHeeeefjkeleeSb Hetjer kejles nQ leeefke Gvns efkemeer Hekeej keer keef"veeF& ee DemegefJeOee ve nes. efjuesMeveMeerHe HeyevOeke Fme oewjeve ve kesJeue yeQke kes Sme.Sce.F&. GlHeeoeW kes efueS ceekexefbie kejles nQ yeefuke Jes Fme oewjeve Deve GlHeeoeW SJeb mesJeeDeeW efpeveceW Deve He#eere GlHeeo pewmes peerJeve yeercee, cegegDeue
n

yeQke ves eespevee kes Devleie&le efJelleHees<eCe eLee ceefnueeDeeW kes DeeefLe&ke meMeefkelekejCe nsleg JeeHeeefjke Geceer meneelee SJeb efJekeeme (TREAD) kes efueS Sce.Sme.Sce.F& cev$eeuee kes meeLe mecePeewlee kejej Yeer efkeee.

ieenkeesvcegKe GlHeeo HeejcYe efkeS nQ.

DeleeOegefveke Heeweesefiekeer kee Fmlesceeue efkeee peelee nw leLee Fme keee& kees yeQke kes kegMeue SJeb HeefMeef#ele meHe meome Hetje kejles nQ. 31.03.2009 kees mesJeejle yeQke keer kegue 34 Sme.Sce.F&. ueesve Hewefke^eeW ceW mes -7- Sme.Sce.F&. ueesve Hewefke^eeb Fme Je<e& mLeeefHele keer ieF& nQ. yeQke keer osMeYej ceW meYeer HecegKe JeeJemeeefeke kesveW Hej Sme.Sce.F&. ueesve Hewefke^eeb mesJeejle nQ.

ewvvew, keesecyee=tj, osnjeotve, 2 Hewefke^eeb efouueer ceW, nwojeyeeo, Fvoewj, peeHegj, peceMesoHegj, peeceveiej, peesOeHegj, keeveHegj, keesuneHegj, keesuekeelee, ueKeveT, uegefOeeevee, 3 Hewefke^ee cegcyeF& ceW, veeieHegj, veeefMeke, veesS[e, HegCes, jepekees, jeeHegj, metjle SJeb efJeMeeKeeHevece nQ.

Debeue keeee&uee, peeHegj ceW Sme.Sce.F&. nwuHeueeF&ve kee GodIeeve kejles ngS keee&keejer efveosMeke eer Deej. kes. ye#eer.

kejes[ kes $e+Ce mJeerke=le efkeS ieS Les. keoce G"eves kes mebyebOe ceW Sme.Sce.F&. GOeejkelee&DeeW kees efMeef#ele kejves kes yeQke keer Je<e& 2009-10 kes oewjeve -6- Deewj Sme.Sce.F&. ueesve Hewefke^eeb mLeeefHele kejves keer eespevee nw.
n

meneelee Heoeve kejves kes efueS Deveske GHeeeeW keer Iees<eCee kej Fmeves HeesSefkeJe GHeee efkeS.
n

Fmeves Heefleef<"le JeJemeee HeyebOeve mebmLeeve kes meeLe HeyebOeve efJekeeme keee&ece Sce.F&. ieenkeeW kees Heefjefele kejeee pee mekes.

efJeeere Je<e& 2006-07 2007-08 2008-09

31.40% 31.11%

Fkeesveeefceke eFcme kes meYeer mebmkejCeeW ceW Sme.Sce.F&. He=<" kee Heeeespeve efkeee leeefke Sme.Sce.F&. #es$e kes efueS leweej efkeS ieS efJeefYevve GlHeeoeW kees ueeskeefHee yeveeee pee mekes Deewj Sme.Sce.F&. JeJemeee ceW lespeer ueeF& pee mekes.

ieeceerCe SJeb ke=ef<e GOeej 24.18% DeHeveer 1,100 ieeceerCe MeeKeeDeeW Deewj 649 DeOe&Menjer MeeKeeDeeW kes efJemle=le vesJeke& kes ceeOece mes ieeceerCe yeepeej keer efJeMeeue #eceleeDeeW kee oesnve kejves ceW yeQke

43

efveosMekeeW keer efjHees&

HeeLeefcekelee HeeHle #es$e SJeb ke=ef<e GOeej kes #es$e ceW meJe&oe DeieCeer jne nw. Je<e& 2008-09 kes oewjeve yeQke ves ieeceerCe Deewj DeOe&Menjer #es$eeW ceW -30- veF& MeeKeeSb Keesueer nQ. yeQke Gej HeosMe Deewj jepemLeeve jepeeW ceW jepe mlejere yeQkeme& meefceefle kee mebeespeke nw. iegpejele jepe (12), jepemLeeve jepe (12), Gej HeosMe jepe (14), Gejebeue jepe (2), ceOeHeosMe jepe (2) Deewj efyenej jepe (2) kes -44efpeueeW ceW yeQke kes Heeme DeieCeer yeQke keer efpeccesoejer nw. yeQke ves efJeefYevve jepeeW ceW -5- #es$eere ieeceerCe yeQkeeW kee Heeeespeve efkeee nw efpemekeer MeeKeeDeeW kes vesJeke& keer mebKee 1201 nw Deewj ceee&-2009 kees kegue JeJemeee jeefMe

yeQke ves Je<e& 2008-09 kes oewjeve 2,702 ieeceerCe mlejere $e+Ce kewcHe Deeeesefpele efkeS yeQke ves Hetjs osMe ceW 350 Lem MeeKeeDeeW kee eeve efkeee nw. efpemekee Heeespeve ke=ef<e 32% kee eesieoeve efkeee nw.

Meerleie=n, cegieeaHeeueve FkeeF& Deeefo DeefOeke mebKee ceW nQ, Hetje kejves kes efueS #es$e efJeMes<e kes Devegmeej suej ces[ eespeveeSb yeveeF&. HeeflemHeOee& kes yeere meHeue jnves nsleg DeefOekelece JeJemeee HeeHle kejves kes efueS Fve eespeveeDeeW kes lenle yeepe HeYeej -18- #es$e - efJeefMe< eespeveeDeeW kee met$eHeele efkeee ieee.

Je<e& 2008-09 kes oewjeve HeeLeefcekelee HeeHle #es$e kee keee&efve<Heeove : yeQke kee HeeLeefcekelee HeeHle #es$e kee Deefiece leLee DeeosefMeleer ue#e kes 40% 46.43% nes ieee. yeQke kee ke=ef<e Deefiece iele Je<e& keer jeefMe mes 28.0% ye{kej yeQke ves DeHeves HecegKe ke=ef<e $e+Ce GlHeeo "ye[ewoe efkemeeve esef[" kes lenle ke=<ekeeW kees $e+Ce Heoeve kejves kes efueS Je<e& 2008-09 kes oewjeve ueieYeie 1,78,442 esef[ kee[& peejer efkeS. Je<e& 2008-09 kes oewjeve yeQke ves ueieYeie 2,11,948 veS efkemeeveeW kees efJeeere megefJeOee Heoeve keer nw. DeHeves met#ce efJeeHees<eCe keer veJeesvces<eer Henue kes mJebe meneelee mecetneW kees Je<e& 2008-09 kes ieeceerCe ke=ef<e GOeej kes #es$e ceW Heeweesefiekeer kes HeYeeJeer Heeesie keer efoMee ceW yeQke ves efJeeere meceeJesMeve nsleg metevee Heeweesefiekeer megefJeOeeegkele mcee& kee[& HeejbYe efkeee nw. Jele&ceeve ceW, mcee& kee[& DeeOeeefjle efJeeere meceeJesMeve kee keeee&vJeeve Gej HeosMe kes jeeyejsueer SJeb meguleeveHegj efpeueeW ceW Heeeesefieke DeeOeej Hej efkeee pee jne nw. DeYeer leke 18,000 mcee& kee[& peejer efkeS pee egkes nQ. ceewpetoe mecee ceW, yeQke kes 262 SerSce ieeceerCe SJeb DeOe&Menjer #es$eeW ceW efmLele nw Deewj 225 ieeceerCe MeeKeeSb SJeb 525 DeOe&Menjer MeeKeeSb keesj yeQefkebie meesuetMeve kes lenle nbw. yeQke ves "YeerceLe[er pee$ee" GlHeeo mes mebyebefOele veJecyej, 2008 ceW HegCes ceW Deeeesefpele Ske jepe mlejere HeoMe&veer kee men Heeeespeve efkeee, efpemekee GodIeeve ceeveveere ke=ef<e ceb$eer eer Mejo

kee me=peve efkeee. ceneje<^ jepe kes nceejs yeQke kes ueieYeie -50- mJebe meneelee mecetneW ves HeoMe&veer ceW Yeeie efueee. JeJemeee Deewj meeceeefpeke HenueW ieeceerCe SJeb ke=ef<e kes GYejles DeJemejeW kee ueeYe G"eves kes efueS yeQke ves Deveske yeQke ves [gbiejHegj efpeuee (jepemLeeve) kees mebHetCe& Skeerke=le efJekeeme Deewj DeHeves keeHeexjs meeceeefpeke oeefelJe keer efoMee ceW 100% efJeeere meceeJesMeve kes efueS Debieerkeej efkeee nw pees cegKele: Ske pevepeeleere yeengue efpeuee nQ Deewj osMe kes meJee&efOeke efHe[s efpeueeW ceW mes Ske nw. Fme Heefjeespevee kee MegYeejbYe 1 Deketyej, 2007 kees efkeee ieee. yeQke ves [gbiejHegj efpeues ceW 100% meceeJesMeve keer GHeueefyOe HeeHle kej ueer nw. DeYeer leke [sejer efJekeeme, Ge ueeiele mebyebOeer HemeueeW keer Kesleer, mebefJeleefjle keer ieF& nw. Fme Heefjeespevee kes lenle HeefMe#eCe, ceefnuee efJeeeefLe&eeW kes efueS e$eJe=efe Deeefo pewmes Deveske Deve keee&keueeHe Yeer efkeS pee jns nQ. yeQke ves mebHetCe& Skeerke=le efJekeeme SJeb 100% efJeeere meceeJesMeve kes efueS 101 ieebJeeW (101 ye[ewoe Meleeyoer Je<e& ieebJe) kees -3- Je<e& keer DeJeefOe kes efueS Debieerkeej efkeee yeme mQ[ Mesuj, nQ[ HecHe, meecegoeefeke neue Deeefo pewmeer meeceeefpeke yegefveeeoer jeefMe Deeyebefle keer nw. ye[ewoe ieeceerCe HejeceMe& kesv (yeerpeerHeerkes) - yeQke ves ieeceerCe mecegoee kees $e+Ce kes mebyebOe ceW HejeceMe&, efJeeere efMe#ee Deewj ke=ef<e mebyebOeer GlHeeoeW keer keerceleeW kes yeejs ceW peevekeejer, Jew%eeefveke Kesleer Deeefo pewmeer Deve mesJeeDeeW kes ceeOece mes meneelee Heoeve kejves kes ceeceues ceW Henue keer nw. yeQke ves 31.03.2009 leke -52- yeerpeerHeerkes keer mLeeHevee kej oer nw. Je<e& 2008-09 kes oewjeve 4 Deewj Deefleefjkele ye[ewoe mJejes]peieej efJekeeme mebmLeeve

ke=ef<e DeefieceeW ceW lespeer ueeves nsleg, yeQke ves Hemeueer $e+Ce nsleg KejerHe DeefYeeeve Deewj efveJesMe $e+Ce DeefYeeeve pewmes efJeMes<e DeefYeeeve

Gej HeoMe ceW Deeeesepele ke=ef<e kepe& ceeHeer SJeb $e+Ce jenle eespevee mebyebOeer keee&ece ceW s f jenle eske Heoeve kejles ngS eer Jeer. mebleevejeceve, keee&keejer efveosMeke.

44

efveosMekeeW keer efjHees&

(yeerSmeJeerSme) nes ieF& nw. jeeyejsueer leLee Depecesj ceW Keesues ieS yeerSmeJeerSme kesv HetCe&le: ceefnuee GeefceeeW kes efueS nQ. yeerSmeJeerSme Ssmes mebmLeeve nQ efpevekee Heeespeve mJejespeieej Gece HeejbYe kejves kes efueS egJeeDeeW kees HeefMeef#ele SJeb DeHesef#ele keewMeue kes mebyebOe ceW %eeve Heoeve kejvee nw. Je<e& 2008-09 kes oewjeve 8,274 egJee ueeYeeefLe&eeW kees HeefMeef#ele efkeee ieee efpeveceW mes 4,762 egJeeDeeW ves mJejespeieej Gece mLeeefHele 11,569 ueeYeeefLe&eeW ves DeHevee mJejespeieej Gece mLeeefHele kej efueS nQ. yeQke ves efJeeere meceeJesMeve keer GHeueefyOe HeeHle kejves kes efueS veJeesvces<eer efJeefJeOe GHeee HeejbYe efkeS nQ. yeQke ves 100% efJeeere meceeJesMeve kes efueS -500- ieebJeeW kee eeve efkeee nw Deewj meYeer 500 ieeceeW ceW en GHeueefyOe HeeHle kej ueer nw. yeQke ves DeHeves 12 DeieCeer efpeueeW ceW Yeer 100.0% efJeeere meceeJesMeve keer GHeueefyOe neefmeue kej ueer nw. Fve efpeueeW kes veece Fme Hekeej nQ : [gbiejHegj (jepemLeeve), HeleeHeie{, jeeyejsueer, meguleeveHegj (Gej HeosMe), vewveerleeue, GOeceefmebn veiej (GejeKeb[), [ebie, oesneo, Hebeceneue (iegpejele) Deewj efMeJensj (efyenej). Fmekes Deefleefjkele, yeQke ves 10,000 ieebJeeW ceW 100.0% efJeeere meceeJesMeve keer GHeueefyOe Yeer neefmeue kej ueer nw. GHesef#ele #es$eeW ceW efJeeere meceeJesMeve kees lJeefjle kejves kes meeLe-meeLe ke=ef<e JeJemeee megefJeOee Heoevekelee& cee[ue kees Yeer keeee&vJeefele efkeee ieee nw. JeJemeee megefJeOee Heoevekelee& cegKele: yeQke kes efueS $e+Ce DeeJesoveeW keer keveJesefmebie kejsiee Deewj Gmes Fme keee& kes efueS yeQke #eefleHetefle& kee Yegieleeve kejsiee. ieeceerCe SJeb DeOe&Menjer #es$eeW ceW nceejer Hengbe ceW megOeej ueeves kes efueS mesJeeefveJe=e yeQke SJeb mejkeejer meHe, iewj mejkeejer mebie"ve (SvepeerDees), ke=<eke keueye Deewj mJebe meneelee mecetn (SmepeerSme) kes meeLe-meeLe Jeweefkeleke Yeer Heoevekelee&DeeW kees keee& Hej ueieeee nw. yeQke ves meerSceSHe (ceeFees efJeeHees<eCe kesv) kes meeLe Yeer menceefle %eeHeve Hej nmlee#ej efkeS nQ. efpemekee GsMe ieeceerCe Deewj ke=ef<e JeJemeee nsleg ceeFees efJeeHees<eCe keee&keueeHeeW kes efueS keewMeue mebJeOe&ve leLee iegCeJeeeHejke ke=ef<e keueye, mJebe meneelee mecetn kes ie"ve Deewj meerSceSHe kes ceeOece mes GvnW efJeMes<e HeefMe#eCe GHeueyOe Hej Oeeve kesefvle kejvee nw. yeQke yeQke ves efvecveefueefKele -5- #es$eere ieeceerCe yeQke (DeejDeejyeer) Heeeesefpele efkeS nQ :
n n n n n

"

"

Deewj "Heejef#ele SJeb DeeefOekee" Ske meeLe nesves Hej eceMe: meceeHle ceee&, 2008 kees

Devleje&<^ere JeJemeee

jKevee leLee DeefveeefceleleeDeeW kees efveeb$eCe ceW jKevee Lee. leLeeefHe, Fme mebeceCe

kejves kee ye=no DevegYeJe, Deer Deeefmle-oselee HeyebOeve Deewj yeQke keer meg{ JeJemeee

etbefke yeQke keer DeuHeeJeefOe mebmeeOeveeW Hej efveYe&jlee meerefcele Leer, Dele: lejuelee mebke kes keejCe Deblejje&<^ere Heefjeeueve Yeer yengle DeefOeke HeYeeefJele veneR ngS. yeQke kes meYeer kesv Deer lejn mes Hetbpeerke=le nQ Deewj mebmeeOeveeW keer HeeefHle kes efueS Gvekes Heeme efJemle=le DeeOeej Jeeuee peceekelee&DeeW kee DeeOeej nw. yeQke kes ieenke-DeeOeej ceW ve kesJeue Yeejleere keeHeexjs, DeefveJeemeer Yeejleere Deewj Yeejleere cetue kes ueesie Meeefceue nQ DeefHeleg peneb en keee&jle nQ Jeneb keer peeleere pevemebKee kes ueesie Yeer Meeefceue nQ. leLeeefHe, mebke ves HeeLeefceke leewj Hej mebIeerke=le $e+CeeW kees HeYeeefJele efkeee keeeWefke Yeejleere keeHeexjseW ves DeHeves efJeosMeer "efJeuee SJeb Depe&ve" keee&keueeHeeW Deewj #ecelee efJemleej eespeveeDeeW ceW Lees[er keceer ueeF&. Je<e& 2008-09 kes oewjeve yeQke ves DeHeves Deblejje&<^ere Heefjeeueve kees efJeosMeer MeeKeeDeeW ceW Deefleefjkele DevegYeJeer meHe keer HeomLeeHevee kej meg{ efkeee. efJeosMeer sjsjer ceW Deefleefjkele meHe keer HeomLeeHevee cegKele: ceekexefbie, metevee Heeweesefiekeer SJeb peesefKece HeyebOeve, efJeYeeieeW ceW keer ieF&. efJeosMeer MeeKeeDeeW kes mLeeveere meHe kees Yeer Gvekes keee&mLeue Hej HeefMe#eCe megefJeOee Heoeve keer ieF& Deewj keewMeue efJekeeme kes efueS efJeefYevve mebmLeeveeW ceW Yespee ieee. yeQke ves Je<e& kes oewjeve DeHeveer efJeosMeer efJemleej eespevee kees peejer jKee leLee -4- veF& MeeKeeSb / keeee&uee Keesues (Fmekeer Deveg<ebefieeeW keer MeeKeeSb Yeer FmeceW Meeefceue nQ). efJeefYevve Deve kesveW Hej Yeer MeeKeeSb Keesueves kes efueS keoce G"eS ieS pees Devegceesove kes efJeefYevve mlejeW Hej nQ. Je<e& kes oewjeve, yeQke ves DeHeveer GHeefmLeefle kee Denmeeme kejeves leLee JeJemeee keer keveJesefmebie kes efueS cegCe SJeb Fueske^eefveke ceeref[ee kes

ye[ewoe Gej HeosMe ieeceerCe yeQke, HeOeeve keeee&uee, jeeyejsueer ye[ewoe jepemLeeve ieeceerCe yeQke, HeOeeve keeee&uee, Depecesj

JeJemeee SJeb ueeYe keee&efve<Heeove PeeyegDee-Oeej #es$eere ieeceerCe yeQke, HeOeeve keeee&uee, PeeyegDee Je<e& 2008-09 kes oewjeve, yeQke keer efJeosMeer MeeKeeDeeW ves kegue JeJemeee (peceejeefMe + Deefiece) ceW 46.23% %, kegue peceejeefMe ceW 38.68% Deewj Deefiece ceW 56.22% JeJemeee ceW Deblejje&<^ee Heefjeeueve ves 22.55% kee eesieoeve Heoeve efkeee. pewmeeefke r Henues GuuesKe efkeee ieee nw, Devleje&<^ee JeJemeee efJemleej ceW efJekeeme mebyebOeer Deekb e[s cege r

Hekeej FvneWves 18.99%

45

efveosMekeeW keer efjHees&

YeeJeer eespeveeSb kegue Deeefmle : kejes[ nes ieF& Deewj Fme Hekeej iele Je<e& kes cegkeeyeues 36.40% MeeKee vesJeke& kees Deewj ye{eves keer yeQke keer cenlJeekeeb#eer eespevee nw efpememes efke efJeMJe kes efJeefYevve Yeewieesefueke #es$eeW mes JeJemeee HeeHle kejves kee ueeYe G"eee pee mekes leLee efJeMJeYej ceW Hewues Yeejleere keeHeexjs / HeerDeeF&Dees / SveDeejDeeF& kees mesJeeSb
%

(Je<e&-oj-Je<e&) mes

ye{e. efveJesMeeW kee "ceeke& t ceekex" yeeJepeto Yeer en efmLeefle jner. yeQke kes Heeme "meyeHeeFce DeeefmleeeW" kee SkemeHees]pej veneR nw. Fmekes Deefleefjkele, [sjerJesefJme kes #es$e ceW Yeer Fmekee SkemeHeespej Heefleef<"le " (meerSueSveSme) ceW cee$e efveJesMe kes Yeejleere keeHeexjseW kes " peefjS ner nw Deewj Jen Yeer Ssmes ceeceueeW ceW peneb Fmes ceewpetoe $e+Ce iegCeJeee kes yeejs
"ceeke&

MeeKeeSb Keesueves nsleg mJeosMe kes efveeecekeeW kees Hemlegle efkeS ieS DeeJesove HeefkeeeOeerve nQ. yeQke keer eespevee ceW etSF&, Deesceeve, etkes, etSmeS, ef^efve[e[ SC[ esyeeiees, DeJemejeW kee ueeYe G"eee pee mekes. ceuesefMeee, metjerveece, eceve, kegJewle, meToer Dejye, ceeueoerJe Deeefo ceW Yeer MeeKeeSb Keesueves kee keee& HeefeeeOeerve nw. mecetnve kesv yeQke kes uebove Deewj ogyeF& ceW mecetnve kesv nbw efpevnW cegbyeF& ceW efmLele Deblejje&<^ere

t ceekex" efkeee ieee nw keeeWefke cetueebkeve Hej HeYeeJe cenmetme efkeee ieee peeleer nw. es meecetefnke $e+Ce SJeb meerSueSveSme kes JeJemeee Hej Oeeve kesefvle kejleer nQ. efmebieeHegj ceW efmLele DeHeleere yeQefkebie FkeeF& Yeer Fme JeJemeee keer kevJesefmebie kejves ceW yengle meefee nw Deewj Gme osMe ceW JewefMJeke mecetnve kesv Keesueves keer yeQke keer eespevee nw leeefke GYejles DeJemejeW kee ueeYe G"eee pee mekes. efJeosMeer JeJemeee ceW GlHeeo SJeb mesJeeSb veteeke& SJeb yetmesume kees es[kej, meYeer efJeosMeer kesveW Hej keesj yeQefkebie meesuetMeve kes keeee&vJeeve kee Heeespeve "DeeOegefveke Heeweesefiekeer" kee DeefOekelece ueeYe G"evee leLee ieenkeeW kees GlHeeoeWb SJeb mesJeeDeeW keer megefJeOee GHeueyOe kejevee Lee pees Deblejje&<^ere

(Jewuet) ceW keceer Deeves kes keejCe efkeee ieee Deewj efveJesMeeW keer HeefjHekeJelee nes peeves 2008-09 kes oewjeve Deblejje&<^ere Heefjeeueve kee eesieoeve 18.86% jne. Deeefmle iegCeJeee : yeQke ves peefue meer[erDees (mebHeeefMJe&ke $e+Ce yeeOeleeDeeW) ceW peesefKece veneR G"eee

keeHeexjseW kes ceeceues ceW ner Yeeie efueee. Dele: ceewpetoe mebke mes yegjer lejn HeYeeefJele veneR ngDee. yeQke ves efmueHespe kees efveebef$ele jKeves kes efueS DeeefmleeeW keer ceeefveeEjie ye{e oer Deewj SveHeerS Keeles ceW Jemetueer mebyebOeer HeeemeeW ceW lespeer ueeF& Deewj Fme Hekeej Je<e& 2008-09 kes oewjeve, DeHeves Deblejje&<^ere Heefjeeueve ceW mekeue SveHeerS Deewj kegue DeefieceeW kes DevegHeele ceW keceer ueeves ceW meHeue jne. iele Je<e& kes 0.55% kes mece#e kegue Deefiece kee mekeue SveHeerS Iekej 0.51% Metve mlej leke yeveeS jKee ieee. Deblejje&<^ere GHeefmLeefle

kes meceeve yeveeee pee mekes. efJeosMeer JeJemeee ceW Heeweesefiekeer Gvveeve efJeosMeer ieenkeeW kees yesnlej mesJee Heoeve kejves kes efueS yeQke ves Deveske Heeweesefiekeer HenueW

etkes, etSF&, yenceeme SJeb yenjerve ceW JewefMJeke ^s]pejer Heefjeespevee kee keeee&vJeeve etSF&, Deesceve, efHepeer, ceeefjMeme mesMeume, yeeslmeJeevee Deewj lebpeeefveee ceW Jet DeeOeeefjle F&-yeQefkebie kee MegYeejbYe ieenkeeW kees eewyeerme Iebs efveyee&Oe mesJee Heoeve kejves kes efueS Deefleefjkele SerSce mebmLeeefHele efkeS ieS nQ. etSF& ceW HetCe& HebkeMeveue SerSce mebmLeeefHele kejves kee keee& HeefeeeOeerve nw. ueieYeie meYeer efJeosMeer kesveW Hej, jwefHe[ Heb[me 2 Fbef[ee, Deeve ueeFve OeveHes<eCe GlHeeo, mebmLeeefHele kej efoS ieS nQ. ceeefjMeme mesefMeume, oef#eCe Deeerkee, yeeslmeJeevee Deewj kesvee ceW Yegieleeve cesmesefpebie meesuetMeve HeejbYe kej efoee ieee nw. -14- efJeosMeer #es$eeW leLee -7- efJeosMeer Deveg<ebefieeeW ceW SSceSue Fjs]pe SJeb Dee@ veueeFve efuem cewe meesuetMeve ueeiet kej efoee ieee nw.

yeQke keer 25 osMeeW ceW Fmekeer 74 MeeKeeDeeW / keeee&ueeeW kes ceeOece mes Deblejje&<^ere GHeefmLele nw : yeQke keer efJeosMeer MeeKeeSb yeQke kes HeefleefveefOe keeee&uee yeQke keer efJeosMeer Deveg<ebefieeeW keer MeeKeeSb kegue 48 03 23
74

GHejeskele kes Deefleefjkele, yeQke keer DemeesefmeS keer peeefcyeee ceW 11 MeeKeeSb nQ. efJeosMeer efJemleej Je<e& 2008-09 kes oewjeve, yeQke ves -4- MeeKeeSb / keeee&uee Keesues - iegDeebiePeesT (eerve) ceW MeeKee, cegmeHeHeen (etSF&) ceW Fueske^eefveke yeQefkebie FkeeF& SJeb Deveg<ebefieeeW yeQke kee SveDeejDeeF& JeJemeee mJeosMe es[ kej ieF& Yeejleere pevemebKee kees mesJee Heoeve kejves SJeb Yeejleere MeeKeeDeeW kes efueS JeJemeee keveJesefmebie kejves nsleg, yeQke ves GlHeeoeW SJeb mesJeeDeeW ceW Deewj megOeej ueeves kes efueS Deveske keoce G"eS. ieenkeeW kees "kece ueeiele SJeb leerJe

46

efveosMekeeW keer efjHees&

Hes<eCe" keer mesJeeSb Heoeve kejvee DeeoMe& Jeekee Lee. Fmekes Deefleefjkele Dee@veueeFve DeejerpeerSme / SveF&SHeer OeveHes<eCe megefJeOee kees ueeskeefHee yeveeves kes efueS, yeQke nw. Yeejleere cetue yeengue Jeeues FueekeeW kee oewje kejlee nQ, eefceke pevemebKee kes efueS GHeegkele keee& mecee kee efJemleej kejlee nw. o jwefHe[ Heb[me 2 Fbef[ee kee efJemleej veS kesveW leke efkeee ieee Deewj Fmekes Deefleefjkele yeQke ves etkes ceW efkeueke Heb[ 2 Fbef[ee kee MegYeejbYe efkeee. DeHeveer Hengbe kees Deewj DeefOeke ye{eves kes Heeespeve mes yeQke ves OeveHes<eCe keer megefJeOee nsleg SkemeeWpe neGmeeW kes meeLe eF& DeHe efkeee nw. en -7- SkemeeWpe neGmeeW kes meeLe Henues mes ner Heefjeeueveiele kej efoee ieee nw

efJeosMeer JeJemeee ceW peesefKece HeyebOeve efJeeere uesve-osve kes ye{les Deekeej SJeb peefueleeDeeW kes ef<iele peesefKece HeyebOeve kee mebIeve Deleble cenlJetHeCe& nes ieee nw. JewefMJeke efJeeere mebke ves Yeer "esme peesefKece HeyebOeve, HeYeeJekeejer Deebleefjke efveeb$eCe Deewj efJeeere mebmLeeDeeW ceW meg{ keeHeexjs ieJevexvme keer DeeJeMekelee kees jsKeebefkele kej efoee nw. yeemeue II SkeerkejCe leLee $e+Ce efveeespeve mes mebyebefOele efJeefveeeceke ceeveoC[eW kes DevegHeeueve, Deeefmle iegCeJeee, peesefKece Yeeefjle DeeefmleeeW kes HeeJeOeeveerkejCe SJeb efveOee&jCe kes JeieeakejCe SJeb $e+Ce ceeefveeEjie) HeCeeueer kees keeeeefvJele kejves kes efueS eespevee yeveeF& nw. meceeOeeve kees cespeyeeve leLee nesce keb^er ceeveoC[eW kes Devegmeej peesefKece Yeeefjle Deeefmle (Deej[yuetS) keer ieCevee Deewj yeQke veerefle kes Devegmeej JewefMJeke Deej. ieenkeesvcegKe yeveeee peeSiee. Smeece kee DeejbYe Deve SceDeeF&Sme HeeespeveeW Deewj $e+Ce ceeefveeEjie kes efueS meneeke nesiee. efJeosMeer JeJemeee ceW efJeefveeceve DevegHeeueve efveJeemeer osMe kes efJeefveeceveeW kee yeQbke ke[eF& mes ncesMee Heeueve kejlee nw Deewj efJeosMeer HeefjeeueveeW ceW efJeefveece DevegHeeuevekelee& yeQke SJeb Dee keeHeexjs veeieefjke nesves keer Keeefle Deefpe&le keer nw.

cewjLe@ve 2009 ceW Meeveoej GHeefmLeefle ope& keer.

keeHeexjs meeceeefpeke oeefelJe (meerSmeDeej) yeQke ves ncesMee meceepe kes efueS keee& kejves ceW efJeMJeeme Jekele efkeee nw. Ske meeceeefpeke - DeeefLe&ke efJekeeme kejkes mecegoee kees meMekele kejvee yeQke efJe]peve jne nw. Je<e& 2008-09 kes oewjeve yeQke ves Fme efoMee ceW DeHeves HeeemeeW kees Deewj les]pe kej pewmes efke yeQke ves Hetjs Yeejle ceW 101 ieebJeeW kees Debieerkeej efkeee nw efpemekee Heeespeve Gpee& HeCeeueer pewmeer yegefveeeoer megefJeOeeDeeW kee efJekeeme kejves nsleg efJeeere meneelee Heoeve kejvee nw. yesjespeieej egJekeeW kees ueeYeHeo mJejespeieej Deewj Gece mes mebyebefOele keewMeue efJekeefmele kejves nsleg efve:Meguke HeefMe#eCe Heoeve kejves kes efueS mJejes]peieej efJekeeme mebmLeeve DeeefLe&ke efmLeefle megOeejves SJeb Gvekes efveJeeme kes kesveW keer mLeeveere DeeefLe&ke efmLeefle ceW ye{esejer kee DeJemej HeeHle neslee nw. yeQke ves -52- ye[ewoe ieeceerCe HejeceMe& kesveW keer mLeeHevee keer nw efpemekee Heeespeve mebHetCe& osMe kes ieeceerCe ueesieeW kees $e+Ce kes mebyebOe ceW HejeceMe& SJeb efJeeere efMe#eCe Heoeve kejvee nw. yeQke DeHeves meerSmeDeej keee&keueeHeeW kee DeHeves met#ce efJeeHees<eCe SJeb mJebe meneelee mecetn efJeeHees<eCe kes meeLe mecevJee kejlee nw. yeQke ves 91,536 mJebe meneelee mecetneW kes meeLe mebyebOe efJekeefmele efkeS

nQ. yeQke ves jepemLeeve jepe kes [gbiejHegj efpeues kees mebHetCe& Skeerke=le ieeceerCe efJekeeme leLee 100% efJeeere meceeJesMeve kes efueS Debieerkeej efkeee nw efpemekee JeCe&ve efHeues DevegYeeie ceW efkeee ieee nw. yeQke ves meeceeefpeke oeefelJeeW Deewj meeceeefpeke eesieoeve kes Heefle es<" HeyebOekeere

nQ eLee HeJeveekekeer, neF[ue HeeJej, KeesF& DeeOeeefjle efyepeueer HeefjeespeveeSb, meewj Gpee& Deeefo efpememes ieerve neGme iewme FceerMeve ceW, pees keeye&ve pecee nesves kes keejCe nQ, ceW keceer Deeleer nw. ^s]pejer Heefjeeueve yeQke ves HegCes efmLele oerveeveeLe cebiesMekej ne@emHeue kees megHej mHesMeefueer neF-ske f keeef[eeke ScyegueWme oeve efkeee. ne@emHeue kes veemeer Hebe[le oeveeLe cebiesMekej kees & f f ScyegueWme keer eeyeer Heoeve kejles ngS Debeue HecegKe, ceneje<^ SJeb ieesJee Debeue. efJeeere Je<e& 2008-09 ves efJeefYevve Deeefmle JeieeX ceW, efJeeere yee]peej ceW yengle ye[er DeefmLejlee kee DevegYeJe efkeee. meye HeeFce OejeMeeeer nesves mes efJeeere mebke kes

47

efveosMekeeW keer efjHees&

ceW keeHeexjs yeeC[ yeepeej ceW lejuelee mebke Lee keeeWefke efveJesMekelee& DeefOeke peesefKece

Deewj DeesDeeF&Sme leLee DeeF&SveyeerSce kes Hej efHekeme[ kee Yegieleeve efkeee. Fmekes Deefleefjkele, ^s]pejer ef[Jeerpeve ves cege yeepeej, meeryeerSueDees, peer-meske Deewj etSme[er / DeeF&SveDeej mJewHme kes ceeOece mes me=efpele mebmeeOeveeW kes yeere GHeueyOe DeblejHeCeve

DeelceefJeMJeeme Hewoe kejves kes efueS oj ceW keceer kejvee kesvere yeQkeeW ceW Ske ceeveoC[ yeve ieee nw. Yeejleere yeeC[ yeepeej ceW Je<e& keer HeLece ceener ceW lesue keer keerceleeW ceW DeeF& DeefmLejlee kes keejCe Hewoe ngF& efevleeDeeW kes cesvepej Deewj DeefOeke lespeer DeeF&. DeHewue mes Deiemle 2008 kes oewjeve cegemHeerefle ceW GOJe&ieeceer HeJe=efe yeveer jner Deewj Fmeves 12.63% kes DeefOekelece mlej kees mHeMe& efkeee pees kees lesue Deewj JemlegDeeW Deewj cegemHeerefle keer mecYeeJeveeDeeW kees Meeble kejves kes efueS HecegKe ojeW ceW ye{esejer yeWeceeke& HeefleHeue ves pegueeF&, 2008 ceW 9.54% kes mlej kees mHe&Me efkeee peye efke 31 ceee&, 2008 kees Fmekee mlej 7.93% Lee. Deketyej-veJecyej, 2008 kes ceen ceW yeepe oj ves meblegueve kes ue#eCe HeoefMe&le efkeS peye cegemHeerefle ceW JewefMJeke kees lesue keer keerceleeW ceW ueeeruee jJewee Deewj Yeejleere efj]peJe& yeQke keer ceewefke vejceer kes

osKee. yeWe ceeke& meWmeskeme, pees 31 ceee&, 2008 kees 15,644 Lee, ceW lespeer mes efiejeJe DeeF& Deewj 27 Deketyej, 2008 kees efvecvelece kes 7,697 mlej kees mHeMe& efkeee Deewj Fmekee keejCe Lee : JewefMJeke DeeefLe&ke ceboer keer efeblee. DeeefLe&ke ceboer Hewkespe mes JewefMJeke DeLe&JeJemLee Hej mekeejelceke HeYeeJe He[vee efoKeves ueiee Deewj yeepeej ves Yeer Gyejves keer efmLeefle oMee&F& Deewj 31 ceee&, 2009 kees meWmeskeme 9,708 Hej yebo ngDee. yeQke kes FefkeJeer [smke kee Heefjeeueve cebo yevee jne. leLeeefHe, yeepeej efJeJeskeHetCe& yeepeej Heefjeeueve kes ceeOece mes YejHetj Deee Deefpe&le kejves keer DeeMee nw. meceke#e 26.44%

meye HeeFce kes keejCe etSmeS ceW DeJeMecYeeJeer ceboer kee Yee yevee jne Deewj efpemekes

ieF& leLee HeefleHeue ceW les]peer mes vejceer DeeF&. Yeejleere efj]pe&Je yeQke ves efmelecyej kes 9.00% keer jshees oj ceW keewleer kej 21 DeHewue, 2009 kees 4.75% kej efoee. 10 Je<eeae HeefleHeue efmelecyej ceW 8.63% mes Iekej efomecyej 2008 ceW 5.31% nes ieee. leLeeefHe, Debeflece efleceener kees Deefleefjkele GOeej Deewj Je<e& 2009-10 kes efueS efjkee[& GOeej kes keee&eceeW kes keejCe efveeues mlej Hej HeefleHeue uecyes mecee leke yevee veneR jn mekee. en 31 ceee&, 2009 kees 7.01% Hej yebo ngDee. meceeHle 28 ceee&, 2009 kes efueS cegemHeerefle 0.26% Lee. Yeejleere efj]peJe& yeQke ves DeHeves Kegues yeepeej HeefjeeueveeW kes ceeOece mes GOeej keee&ece kee HeyebOeve kejvee peejer jKee. keeHeexjs yeeC[ yeepeej ves legueveere mejkeejer HeefleYetefleeeW keer leguevee ceW Fme Devlejeue kees ye{les osKee. Hees&HeesefueDees kes yeeeJe nsleg, yeQke ves Je<e& kes HeejbYe ceW SmeSueDeej HeefleYetefleeeW kees SSHeSme mes SeerSce kees mLeeveebleefjle kej efoee. leLeeefHe, Yeejle keer meceie DeeefLe&ke Meefkele Deewj uecyeer DeJeefOe kes Ge yeepe ojeW kees yeveeS jKeves kes yeejs ceW DeeMebkee kees osKeles ngS, yeQke kes ^s]pejer ef[Jeerpeve ves uecyeer DeJeefOe keer HeefleYetefleeeW kees Ssmes mecee ceW mebefele kejvee HeejbYe efkeee peye Fve yeeC[eW Hej HeefleHeue 9.5% mes 9.25% kes yeere Lee. Deeeeceke mebeeve keer HeeefHle er-efyeume, keg DeuHeeJeefOe svej HeefleYetefleeeW kees HeeflemLeeefHele leLee Hees&HeesefueDeeW DeeF&SveyeerSce Hej efHekem[ Yeer HeeHle efkeS.

keer Skeerke=le ^spejer etSme[er/DeeF&SveDeej, F&etDeej/etSme[er ceW yeepeej efvecee&lee yeveer jner. Je<e& kes oewjeve Heesjskeme yeepeej meYeer efJeeere kesveW Hej meye HeeFce mebke kes Gejesej Ieves ee ye{ves kes HeYeeJe kes keejCe, yengle DeefOeke DeefmLej yevee jne. yeQke kee efJeosMeer efJeefvecee [erefuebie ke#e DeefmLejlee kee vekeoerkejCe kejves ceW meHeue jne Deewj yeQke kes efueS Dee ueeYe Deefpe&le efkeee. cegbyeF& ceW efmLele yeQke kee DeleeOegefveke [erefuebie ke#e efJeosMeer efJeefvecee uesve-osve SJeb [sefjJesefJe GlHeeoeW kes mecemle keee& kees mebHeeefole kejlee nw. Heesvvele Heeweesefiekeer eLee yeepe oj mJewHe, kejWmeer mJewHe Deewj Dee@HMevme kes ceeOece mes DeHeves ieenkeeW kees efJeefYevve Hekeej kes GlHeeo Heoeve efkeS pee mekes. mJeeeefuele [erefuebie HeCeeueer kes ceeOece mes, Yeejle ceW meYeer HeeefOeke=le MeeKeeDeeW ceW DeHeves ieenkeeW kees yeQke mJeeeefuele me=efpele JeemleefJeke mecee efJeosMeer efJeefvecee cege kes YeeJe keer peevekeejer kejelee nw Deewj Fmemes GvnW JeemleefJeke mecee kes yeepeej kee Denmeeme kejelee nw.

kesveW Hej JewefMJeke ^spejer meesuetMeve kes keeee&vJeeve HeefeeeOeerve nw. Fmes uebove, ogyeF&, yenjerve SJeb yenceeme ceW meHeueleeHetJe&ke Henues ner efeeevJeefele efkeee pee egkee yeQke kes Heeme yesnlej JewefMJeke peesefKece HeyebOeve mebjevee GHeueyOe nes peeSieer Deewj yeQke mebmeeOeveeW kes F<lece efveeespeve keer GHeueefyOe HeeHle kej mekelee nw. yeQke ves DeHeveer ^spejer MeeKee ceW Ske meefee [sefjJesefJe [smke mLeeefHele efkeee nw pees keeHeexjs ieenkeeW kees Gvekeer yeepe oj Deewj kejWmeer oj nsefpebie kejves mebyebOeer

HeefleHeue ceW keceer Deevee HeejbYe nes ieee. uecyeer leejerKeeW kes mejkeejer yeeC[eW ves yengle kece mecee ceW ner nceW DeefOekelece HeefleHeue Heoeve efkeee. Fmekes Deefleefjkele es ueeYe, ceewpetoe Hees&HeesefueDees kes HeefleHeue kees efyevee iebJeeS, me=efpele efkeS pee mekes. kece yeepe-ojeW kes DeJemej kees Deewj Deeies vekeoerkejCe kejves kes efueS, ^s]pejer ef[Jeerpeve ves uecyeer DeJeefOe kes yeeC[eW kees yesekej Hees&HeesefueDees keer meceeeJeefOe ceW keceer ueeF&

^spejer ef[efJepeve kee meYeer megefJeOeeDeeW mes meefppele efce[ DeeefHeme, efveosMeke ceC[ue

48

efveosMekeeW keer efjHees&

meerceeDeeW keer ceeefveeEjie kejlee nw Deewj Fme nsleg Heesvvele Heeweesefiekeer kee Fmlesceeue kejlee nw. Jewuet S efjmke (JeerSDeej) kes lejn kes peesefKece HeyebOeve kees meYeer Hees&HeesefueDees kes mebyebOe ceW yeepeej peesefKece kee Helee ueieeves kes efueS efkeee peelee nw. Fmekes Deefleefjkele, JeerSDeej vecyej keer yewke sefmbie Heefleefove keer peeleer nw leeefke YeefJe<eJeeCeer keer ieF& Jewuet keer melelee keer Hegef< keer pee mekes. meYeer Hees&HeesefueDees kes m^sme kee Hejer#eCe Yeer efkeee peelee nw leeefke JeerSDeej efJeMues<eCe keer Hetefle& keer pee mekes. Deeefmle iegCeJeee HeyebOeve :

efomecyej, 2005 kees DeHevee ms Dee@He o Dee& [ee mesvj mLeeefHele efkeee pees efveJeejCe meeF ( ef[peemj efjkeJejer meeF ) mLeeefHele keer nw pees 500 efke.ceer. keer otjer keer Devlejje<^ere DeeJeMekeleeDeeW leLee efJeefYevve YetkebHeere #es$eeW ( mesefmceke

ves 2008-09 ceW Deeefmle iegCeJeee HeyebOeve kes #es$e ceW yesnlej keee&efve<Heeove efkeee. megJeJeefmLele mecevJee SJeb melele HeeemeeW mes, yeQke kee JewefMJeke mekeue SveHeerS mlej Ske Je<e& ceW 1.84% mes Iekej 1.27% kes mlej Hej Deewj SveHeerS kee mlej 0.47% mes Ieekej 0.31% leke ueeee pee mekee.

2008-09 ceW Heeweesefiekeer Heieefle :

n

Ieeves ceW meHeuelee efceueer DeefHeleg meceeHle ceee&, 2009 leke DeesHeefvebie Hees&HeesefueDees

Je<e& 2008-09 kes oewjeve, Deeefmle iegCeJeee ceW Hegve: megOeej ngDee Deewj iele Je<e& kes Deble ceW ceeveke Deefiece 98.16% mes ye{kej Jele&ceeve mecee ceW 98.73% kes mlej kees mHe&Me kej mekee. efJeJejCe efvecveevegmeej : Deefiece mebJeie& (mekeue) 31 ceee&, 2009 kegue % 98.73 0.24 0.57 0.46 1.27 100.00 31 ceee&, 2008 kegue % 98.16 0.34 0.82 0.68 1.84 100.00

keesj yeQefkebie meesuetMeve : 31 ceee& 2009 kees Yeejle ceW yeQke keer 1922 MeeKeeSb leLee 28 efJemleej keeGvj meeryeerSme kes lenle Dee ieF& LeeR. Fme Hekeej 34 jepeeW / mebIeMeeefmele HeosMeeW kes Ske npeej mes peeoe kesv yeQke kes Iejsuet JeJemeee kee ueieYeie 94% efnmmee meeryeerme kes lenle Dee ieee nw. Fmekes Deefleefjkele 12 osMeeW keer 43 MeeKeeSb leLee 7 efJeosMeer Deveg<ebefieeeW keer 23 MeeKeeSb efHeveekeue meeryeSme kes lenle Dee ieF& nbw. yeQke kes kegue efJeosMeer JeJemeee keeb ueieYeie 79% meeryeerSme MeeKeeDeeW kes lenle Dee ieee nw. JeeHeke #es$e vesJeke& (WAN) : meeryeerSme Je Deve kesverke=le JeJemLeeDeeW kes keeee&vJeeve efueS meg{ JeeF[ Sefjee vesJeke& (WAN) nes. yeQke keer 2300 mes DeefOeke MeeKeeDeeW / keeee&ueeeW kes 99.9% mes DeefOeke WAN) kes lenle Dee ieS nQ.

jeefMe ceeveke neefve mebefoiOe DeJeceeveke mekeue SveHeerS kegue 143001.94 345.34 832.32 665.26 1842.92 144844.86

jeefMe 105690.44 366.12 887.65 727.61 1981.38 107671.82

Fvjves yeQefkebie : yeQke ves Yeejle ceW efjsue leLee keeHeexjs ieenkeeW kes HuesHeece& kes ceeOece mes ieenke DeHeves Hele#e Deewj DeHele#e oesveeW kejeW kee Dee@ve ueeFve Yegieleeve, etefefueer efyeueeW kee Yegieleeve meeLe ner jsue efke Yeer yegke kej mekeles nQ. ieenke yeQke kes Yeerlej DeHeves Ske Keeles mes otmejs Keeles ceW efveefOeeeW kee DeblejCe kej mekeles nQ. ieenke SveF&SHeer/ DeejerpeerSme kee Heeesie kejkes Fvjves yeQefkebie kes ceeOece mes efveefOeeeW kes Deblej yeQke DevlejCe nsleg mesJee Yeer HeeHle kej mekeles nQ. kee@jHeesjs ieenkeeW kees meerOes mesuejer DeHeuees[ keer megefJeOee nes ieF& nQ. Yeejle ceW Fvjves yeQefkebie kes ieenkeeW kees SmeSceSme Sue& keer megefJeOee Yeer Heoeve keer peeleer nw. Fvjves yeQefkebie keer megefJeOee -7- efJeosMeer sjerjerpe nw - yeeslmeJeevee, efHepeer, cee@jerMeme,

yeQke kee SveHeerS keJejspe DevegHeele 75.52% kes menpe mlej leke Hengbe mekee. efmueHespe ceW keceer ueeeer pee mekeer Deewj Je<e& 2007-08 kes oewjeve 1.21% kes meceke#e Je<e& kes DeesHeefvebie Deefiece kee mlej 0.95% leke efveebef$ele jKee ieee.

Heesve yeQefkebie : yeQke ves DeYeer neue ner ceW DeHeves ieenkeeW kes efueS Ske Deewj yewke kes GlHeeoeW keer peevekeejer, DeHeves KeeleeW ceW yesuesvme keer peevekeejer, eske keer efmLeefle, Hewkeme ee F& cesue kes ceeOece mes Keelee efJeJejCe kes DeeosMe Deeefo HeeHle kej mekeles nQb.

ceW meerOes ye{esllejer nes ieF&.

ceW Jemetueer kes efueS efoveebke 21.11.2008 mes 'mebkeuHe'

n

kejes[ keer Jemetueer keer. Heeweesefiekeer HeefjJesMe :

DeejerpeerSme / SveF&SHeer : yeQke keer meYeer meeryeerSme MeeKeeSb DeejerpeerSme leLee SveF&SHeer kes ceeOece mes Devlej yeQke Hes<eCe kej mekeleer nQ. DeejerpeerSme leLee SveF&SHeer nceejs Fvjves yeQefkebie kes Hees&ue Hej Yeer osKee pee mekelee nw. Fmemes nceejs ieenke Fvjves yeQefkebie kes ceeOece mes Dee@ veueeFve Devle:yeQke Oeve DeblejCe keer megefJeOee HeeHle kej mekeles nbQ.

kees Hegve: mLeeefHele kejves kes efueS metevee Heeweesefiekeer Hej DeeOeeefjle JeeJemeeefeke

49

efveosMekeeW keer efjHees&

Dee@ve ueeFve Oeve DeblejCe mesJee : yeQke keer et S F& , Deesceve, et.kes, cee@jerMeme, mesMeume, yeeslmeJeevee, nebiekeb@ie, efHepeer, Ieevee, kesefveee, iegDeevee, oef#eCe Deeerkee, lebpeeefveeeb, etieev[e, ef$eveerveeo leLee esyesieeW keer nceejer keer ieF& nw. Fve HeosMeeW ceW jnvesJeeues DeefveJeemeer Yeejleere Fme mesJee kee ueeYe MeeKee ceW ueeYeeLeea kes Keeles ceW Deemeeveer mes lelkeeue Oeve pecee efkeee pee mekelee nw. eefo Gvekee Keelee efkemeer otmejs yeQke keer MeeKee ceW nw lees Jen DeejerpeerSme / SveF&SHeer kes ceeOece mes Gmeer efove ee Deieues efove pecee HeeHle kej mekeles nQ.
n

efoee nw. jerpeveue yewke Dee@efHeme 350-400 MeeKeeDeeW kes mecetn kes yewke Dee@ efHeme keee&keueeHeeW pewmes Keelee Keesuevee, nmlee#ej mkesefvebie, eske yegke peejer kejvee, mscesv efHeefvbie, (SHe[erDeej ) meeJeefOe pecee jmeero kee veJeerkejCe, er[erSme meef&efHekes leLee SceDeeF&Sme kes keg keeeeX kees mebeeefuele kejWies. keeues Oeve kees JewOe yeveeves Hej jeske ueieevee (Oeve MeesOeve efveJeejCe) (Sver ceveer uee@v[eEjie) : efJeefveeeceke DeeJeMekeleeDeeW kee DevegHeeueve kejves kes efueS yeQke ves Oeve MeesOeve efveJeejke HeCeeueer Yeejle leLee 14 efJeosMeer sjerjerpe DeLee&led Deesceeve, et.SF&, efHepeer, cee@jermeme, mesMeume, lebpeeefveee, yeneceeme, kesvee, etieeb[e, iegeevee, neBiekeeBie, yeeslmeJeevee, et.kes leLee oef#eCe Deeerkee ceW keeee&efvJele kej oer nw. nwuHe -[smke : yeQke kes [ee mesvj ceW Ske 24X7X365 iueesyeue nwuHe [smke keee&jle nw.b yewke ves jespeceje& kes Heefjeeueveelceke cegeW kees efveHeeves kes efueS meYeer Debeue kesveW Hej ueeskeue nwuHe [smke keer mLeeHevee keer nw , efpemekee ueeskeue nwuHe [smke Heele: 8 yepes mes jeef$e 10 yepes leke keee& kej jns nQ. nwuHe [smke mes pees[e ieee nQ.

vekeoer HeyevOeve mesJeeSb (kewMe cewvespecesv meefJe&mespe): yeQke ves kee@jHeesjs vekeoer mesJee kes ceeOece mes nceejs kee@jHeesjs ieenke DeHeveer efveefOeeeW kee HeyevOeve o#eleeHetJe&ke kej mekeles nQ. ieenke Leeske Yegieleeve mesJeeDeeb , mLeeveere / yeenjer efveefOeeeW keer Jetmeueer, (keeiepeele DeeOeeefjle ee Fueske^esefveke ) kes ceeOece mes leLee efveefOe Ske$eerkejCe megefJeOee kes peefjS eue efveefOe kee HeyevOeve kej mekeles nQ.

yesme 24 SerSce efmJee : yeQke ves yesme 24 SerSce efmJee kees meYeer Iejsuet SerSce ceW leLee 5 efJeosMeer sjerjerpe ceW keeee&efvJele efkeee nw. en veee SerSce efmJee DeefOeke mes DeefOeke SerSce leLee mebJeJenej kees megiecelee mes mebeeefuele kejlee nw. efHeueneue 1179 Iejsuet SerSce leLee Heebe efJeosMeer sjerjerpe ceW 36 SerSce mebeeefuele nQ. efjsue ef[Heespeerjer mesJeeSb : nceejs ieenkeeW kees 275 MeeKeeDeeW ceW efjsue ef[Heespeerjer mesJeeSb GHeueyOe kejeF& ieF& nQ. kesvereke=le ef[Heespeerjer mesJeeSb ueeiet nesves kes meeLe ner MeeKeeSb Deye SveSme[erSue leLee meer[erSmeSue oesveeW mes ef[Heespeerjer mesJeeSb osves ceW meceLe& nQ. ef[Heespeerjer ieenke Deye nceejs 275 veeefcele MeeKeeDeeW ceW mes efkemeer mes Yeer en mesJeeSb HeeHle kej mekeles nQ. Fve mesJeeDeeW kee yeQke keer meYeer meeryeerSme MeeKeeDeeW ceW efJemleej efkeee peeSiee. iueesyeue ^spejer : iueesyeue ^spejer, et.kes., yeneceepe, et.S.F&. leLee yenjerve Deewj efmebieeHegj, nebiekeebie ceW keeee&efvJele keer ieF& leLee Yeejle ceW iueesyeue ^spejer kee keeee&vJeeve Deeieeceer Je<e& ceW efkeee peeSiee. Yegieleeve mebosMe (HesceW cewmespe) : yeQke ves Hescesv ceWmesefpebie meesuetMeve kee keeee&vJeeve 5 efJeosMeer sjersjerpe ceW efkeee nw. Hescesv cewmespe meesuetMeve (HeerSceSme) efmJeHed mebosMe HuesHee@ce& nw pees meeryeerSme mes mJeeeefuele mebosMe Yespelee nw. en meeryeerSme mes pesvejs efkeS ieS Deewj S Sce Sue peebe kes ceeOece mes Yespes ieS efmJeHed m^s Let Heesmewefmebie ( SmeerHeer ) mebosMeeW kees megefJeOeepeveke yeveelee nw. yeQke kee meYeer jepeeW ceW HeerSceSme keeee&efvJele kejves kee HemleeJe nw FmeceW efJeosMeer cege uesveosve kejves Jeeueer Iejsuet MeeKeeSb Yeer Meeefceue nQ. efmeer yewke DeeefHeme (meeryeerDees) : MeeKeeDeeW ceW yewke DeeefHeme keee&keueeHeeW kee kesverekejCe kej keeee&efvJele kej efoee ieee nw leeefke MeeKeeDeeW kes Heefjeeueve meHe kees yewke DeeefHeme keee&keueeHeeW mes jenle efceue mekes leLee Jes mesume Sv[ meefJe&me Hej Oeeve kesefvle kej mekeW. 19 mesJee MeeKeeSb leLee 48

DeeF&.Sme.efmekeeesefjer : yeQke ves Heeweesefiekeer kees efkemeer Yeer DeeMebkee kes cesvepej megjef#ele jKeves kes efueS ye[er ner HeYeeJeMeeueer metevee megj#ee HeyevOe JeJemLee HeCeeueer (DeeF&SmeSme) efJekeefmele keer nw. yewke ves SverJeeejme Heesieece keeee&efvJele efkeee nw. yeQke ves efJeefYevve DeeF& er megj#ee #es$eeW kes efueS JeeHeke DeeF& er megj#ee Hee@efuemeer pewmes HeemeJe[& Hee@efuemeer Skemewme kev^esue Hee@ efuemeer Deeefo leLee Deve meneeke HeCeeefueeeb efJekeefmele keer nQ. SeDeejSveF&Sme : leLee eeve Heefeee kees megefJeOeepeveke yeveeves kes meeLe meeLe mJeebeeefuele Deve Se Deej Heefeee kes efueS kesvere [eeyesme leweej kejves kes GsMe kees (HRnes) meHeuelee HetJe&ke keeee&efvJele kej efoee nw.

kesvereke=le Hes-jseue : Yeejle ceW efmLele meYeer MeeKeeDeeW kes kece&eeefjeeW kes efueS kesvereke=le Hes jesue meHeueleeHetJe&ke keeee&efvJele kej efoee ieee nw. en o#eleeHetJe&ke leLee mener {bie mes keee& kej jne nw. HeefMe#eCe : yeQke kes HeefMe#eCe mebmLeeveeW ves ueieYeie 15000 kece&eeefjeeW kees meeryeerSme cees[etue leLee Deve Heeweesefiekeer SHueerkesMebme kes efueS HeefMeef#ele efkeee nw. Fmekes DeueeJee meHleenble ceW efjesMej Hee"eece efHeveekesue leLee Deve SHueerkesMebme Hej DeeOeeefjle Hee"eece Deeeesefpele efkeS ieS. DeeHeoe efveJeejCe SJeb melele JeJemeee(ef[peemj efjkeJejer SJe efyepevesme keberveter): Dee@He o Dee& [ee mesvj kes meeLe DeeHeoe efveJeejCe meeF ( ef[peemj efjkeJejer meeF ) keeee&efvJele keer nw. efveeefcele DeblejeueeW Hej ef[^ue mebeeefuele keer peeleer nw Deewj Heefjeeueve [erDeej meeF kees Debleefjle efkeS peeles nQ leLee

Heeweesefiekeer Gvveeve mebyebOeer YeeJeer eespeveeSb :

n

jerpeveue yewke DeeefHeme (DeejyeerDees): ye[ewoe ceW HeLece jerpeveue yewke DeeefHeme ves kesverke=le Keelee Keesueves keer Heefeee kes efueS keee& kejvee HeejbYe kej

keesj yeQefkebie meesuetmeve leLee Deve SHueerkesMeveeW kees Yeejle leLee efJeosMe keer meYeer MeeKeeDeeW ceW ueeiet efkeee peeSiee. Je<e& 2009-10 kes oewjeve 3 [er megj#ee meefnle yewke kes Fvjves Hescesv iesJes

50

efveosMekeeW keer efjHees&

eej Deewj kesveW peeHegj, ueKeveT, YeesHeeue leLee keesecyeletj ceW jerpeveue yewke DeeefHeme (RBO) Yeejle leLee efJeosMeer kesveW kees keJej kejles ngS efmebieue Skeerke=le iueesyeue ^spejer Hetjer keer peeSieer. Yeejle ceW efmJeHed iueesyeue nye mLeeefHele kej meceie efJeMJe ceW efmJeHed HeefjeeueveeW kees kesvereke=le efkeee peeSiee. Fme Heefeee kes Devleie&le Heleske efJeosMeer wjerjer ceW oer pee jner Deueie Deueie efmJeHed yegefveeeoer megefJeOeeDeeW kees yebo efkeee peeSiee Deewj meceie sjerjer ceW meejs efmJeHed HeefjeeueveeW kees efmJeHed nye kes ceeOece mes mebeeefuele efkeee peeSiee.

Deeekej Iees<eCee Deeefo kes efueS Dee@ve ueeFve DeeJesove kej mekeW. Hes-jesue kees Yeejle keer meYeer MeeKeeDeeW / keeee&ueeeW ceW keeee&efvJele kej efoee ieee. Fmemes kece&eeefjeeW kes Jesleve keer ieCevee, leLee Jesleve Keeles ceW pecee nesvee. HeerSHe leLee keewefleeeb mJele: ner nes peeleer nQ. Fmemes ueeiele kece ngF& nw. vesle=lJe efJekeeme - Heespeske ueerHe : Je<e& 2009 kes yeeo kes Heeweesefiekeer HeefjJesMe, HeeflemHeOee&lceke DeefveJeee&leeDeeW, efJeosMeer

YeeJeer vesle=lJekelee&DeeW kes efueS Fme yeoues ngS HeefjJesMe ceW efJelleere mesJee mebie"veeW kee vesle=lJe kejvee leLee Fvekee HeyebOeve Ske egveewleer nesieer. Fmekes meeLe-meeLe yeepeej kes vesle=lJe kes mebeeueve ceW yeQke kee Deebleefjke vesle=lJe Dence Yetefcekee Deoe kejsiee. Fmeer kes cesve]pej vesle=lJe efveKeej SJeb %eeveJeOe&ve Heefeee (

yeQke, $e+Ce Heesmesefmebie cee@[etue keeee&efvJele kej jne nw efpemekeer meneelee mes efjsue ueseve Hewkeefjeeb mesume ueer[ Keespeves kes meeLe $e+CeeW keer mJeerke=efle mes ueskej efJelejCe leke HemleeJeeW keer Heesmesefmebie keer Heieefle keer peevekeejer HeeHle kej mekeWieer.
n

keewMeue Deewj me#ece yeveeves nsleg HeefMe#eCe Heoeve kejves kes GsMe mes keer ieF&.

efkeee pee jne nw. Fme Heefeee ceW efvecveefueefKele kee meceeJesMe nw. Je<e& 2009-10 kes oewjeve yengle mes Deve Heespeskeme pewmes ieenke mebyebOe HeyevOeve, Dee@ve ueeFve ^sef[bie, [eeJesDej neTme, %eeve HeyevOeve, kesvereke=le
n n

peeSbies.

n n

mes ieenkeeW kees Gvekeer DeeJeMekelee kes Devegmeej yeQefkebie mentefueeleeW leLee efJeefYevve GlHeeoeW kes efJemle=le ef[ueerJejer ewveue Heoeve kejlee nw. yeQke kee cetue GsMe ener nw efke Jen DeHeves ieenkeeW kes efueS Ge Heeweesefiekeer DeeOeeefjle yeQke leLee Henueer Hemebo kee yeQke yeves leeefke en JewefMJeke yeepeej ceW Heleske efmebieue Hewjeceerj Hej Heeweesefiekeer

Keespe kes ceeOece mes HeefleYee Heneeve leLee HeefMe#eCe : Keespe Heefeee nsleg keer ieF& Leer. Fmekes ceeOece mes mJe-efJekeeme leLee kewefjej efveeespeve keer JeJemLee keer ieF&. etbefke en Ske mJewefke Heefeee nw efpemeceW mJeeb cenlJeekeeb#eer DeLeJee Jes mJeeb kees yesnlej cenmetme kejles nw, ceW HeefMefe#ele efkeee peeS. Fme Henue kee JeeHeke mJeeiele nesves leLee keeHeer cee$ee ceW DeeJesove HeeHle nesves mes Glmeeefnle neskej 'Keespe' Heefeee Je<e& 2006 leLee 2007 ceW Hegve: oesnjeF& ieF&. eeefvele DeYeefLe&eeW kees Gvekeer FeDeeW / egves ngS Heefjeeueve #es$eeW ceW HeefMeef#ele efkeee peelee nw leLee leovegmeej HeomLeeefHele efkeee peelee nw. Gvekes efJekeeme kees Oeeve

ceeveJe mebmeeOeve :
JeeJemeeefeke HeefjefmLeefleeeW kee efvecee&Ce efkeee pee jne nw, Ssmeer efmLeefle ceW JeeJemeeefeke Glke=<lee neefmeue kejves kes efueS Jeefkele keer Yetefcekee HecegKe nes ieF& nw. yeQke ves Fve YeeJeer HeefjefmLeefleeeW kees osKeles ngS ceeveJe mebmeeOeve mes ]peg[s Deveske keee& HeyebOeve leLee HeefleYee eeve leLee kece&eeefjeeW mes keee& uesvee Deeefo JeJemLeeDeeW kee

kees meeQHee nw. mes leeuecesue yew"evee Fmekee cegKe GsMe nw. Je<e& kes oewjeve ceeveJe mebmeeOeve ceW Heeseesefiekeer Gvveeve HecegKe GHeueefyOe jner. kece&eejer mesJeeDeeW kes efueS ceeveJe mebmeeOeve vesJeke& HeCeeueer (Hes jesue efmemce ):
(HRnes)

leLee kece&eejer Jesleve

'Keespe' ceW eeefvele JeefkeleeeWs kebs efueS SkemekeuetefmeJe meccesueve Deeeesefpele efkeS ieS. Deueie mecetn, kewefjej efJekeeme Deewj Hegjmkeej Deeefo nsleg Gvekes eesieoeve kees Heee&Hle Denefceele osvee, efJeefMe< keee&oeefelJe Deeefo Keespe ceW eeefvele JeefkeleeeW

kece&eejer mesJeeDeeW kes efueS ceeveJe mebmeeOeve vesJeke& (HRnes) Jesye DeeOeeefjle ceeveJe mebmeeOeve meceeOeeve leLee kece&eejer Hes jesue efmemce kee MegYeejbYe 26.11.2007 kees ngDee Lee Deewj Je<e& kes oewjeve Fmekee jesue DeeG Hetjs osMe ceW kej efoee ieee. Fmeer ece ceW kece&eeefjeeW kes efueS Devegketue keee&HeCeeueer Deewj pees[ oer ieF& leeefke kece&eejer DeHeves mLeeveeblejCe, efMekeeele efveJeejCe , Heoesvveefle, eeve, Deeefmle oselee efJeJejCe,

keefjej efJekeeme : yeQke keer efJekeemeelceke DeeJeMekeleeDeeW kees Hetje kejves leLee kece&eeefjeeW keer Deekee#eeDeeW keer Hetefle kes efueS yeQke ceW efJekeeme keer Deveske mebYeeJeveeSb nQ. egJee kece&eeefjeeW kees HecegKe HeoeW Hej HeomLeeefHele kejves nsleg Yeer efJeMes<e Heeeme efkeS ieS

51

efveosMekeeW keer efjHees&

nQ. Je<e& kes oewjeve ye[er mebKee ceW kece&eeefjeeW kees Ge ies[ / mkesue ceW Heoesvvele efkeee ieee . ke.He.es. / mkesue-I mes ce.He.ies[ / mkesue -II (DeefOekeejer mes HeyevOeke) ce.He.es./mkesue-II mes ce.He ies / mkesue -III(HeyebOeve mes Jeefj<" HeyebOeke) Je.He. es./ mkesue -III mes Je.He.ieW[ /mkesue-IV(Jeefj<" HeyebOeke mes cegKe HeyebOeke) Je.Heb. es ./ mkesue -IV mes Je.He.ies[/mkesue -V(cegKe HeyebOeke mes meneeke ceneHeyebOeke) Je.He. es./ mkesue -V mes G.kee. ies[ / mkesue-VI(meneeke ceneHeyebOeke mes GHe ceneHeyebOeke) G.kee.es./mkesue -VI mes G.kee ies[/mkesue-VII (GHe ceneHeyebOeke mes ceneHeyebOeke) 927 552 220 46 30 10 mebeeefuele kejves keer DeeJeMekelee nesieer. Fve egveewefleeeW kes Heefle Keje Glejves kes efueS efJeefYevve kesveW Hej MeeKeeDeeW kes mecetn yeveekej leLee Fve MeeKeeDeeW kes meYeer meHe meomeeW kees Meeefceue kejles ngS kece&eejer meccesueve Deeeesefpele efkeS ieS. kece&eejer meccesueve efJeefMe< Keb[ kes kece&eeefjeeW pewmes ceefnuee kece&eejer, [erDeejDees, kewcHeme

Yeleea : yeQke yeoueles JeJemeee HeesHeeFue leLee HeefeeeDeeW keer melele Hetefle& kes efueS Deewj meeLe ner yeQke mesJee mes mesJeeefveJe=lle nes jns kece&eefejeeW keer efjefkeleeeW kees efHej mes Yejves kes efueS efJeefYevve ies[ /mkesue ceW kece&eeefjeeW keer Yeleea kej jne nw. FmeefueS yeQke ves Je<e& kes oewjeve efJeefYevve efyepevesme mketueeW kes kewcHeme mes 76 DeefOekeeefjeeW keer Yeleea keer. yeQke, 2000 efueefHekeJeieeae meHe meomeeW leLee 750 [erDeejDees, 200 ke=ef<e DeefOekeeefjeeW Je 382 efJeefMe< esCeer kes DeefOekeeefjeeW keer Yeleea efJeefYevve mkesue / ies[ ceW kej jne nw. en Heefeee petve, 2009 leke Hetjer kej ueer peeSieer. Fmeer ece ceW yeQke ves efJeefYevve Heefleef<"le efyepevesme mketueeW mes pewmes -- DeeF&DeeF&Scme, Sce[erDeeF&, SkemeSueDeejDeeF&, DeeF&DeeF&erpe, SkemeDeeF&Sceyeer, SveDeeF&SceSme, SmeHeerpewve, peceveeueeue yepeepe, DeeF&DeeF&Sme[yuetyeerSce Deeefo mes 200 efJeeeefLe&eeW kee eeve efkeee nw. pees petve, 2009 ceW yeQke pJeeFve kej jns nQ. HeefMe#eCe : efvejblej yeoueles JeeJemeeefeke HeefjJesMe, GlHeeo HeesHeeFue, ieenkeeW keer DeHes#eeDeeW, efJeefYevve Heeweesefiekeer efJeefOeeeW leLee DevegHeeueve SJeb efveeb$eCe DeHes#eeDeeW ceW nes jns efvele veS yeoueeJeeW kes eueles Deepe HeefMe#eCe keer Yetefcekee Dence nes ieF& nw. yeQke ves Je<e& kes oewjeve meeryeerSme kes #es$e ceW 342 HeefMe#eCe keee&ece Deeeesefpele kej 6234 kece&eeefjeeW kees HeefMeef#ele efkeee. esef[ leLee peesefKece HeyevOeve kes #es$e ceW Heee&Hle Oeeve osves kes efueS 193 keee&ece Deeeesefpele efkeS ieS efpeveces 3590 kece&eeefjeeW kees HeefMeef#ele efkeee ieee. Je<e& kes oewjeve Deve keee& #es$eeW ceW 256 HeefMe#eCe keee&ece Deeeesefpele efkeS ieS efpeveceW 4595 kece&eeefjeeW kees HeefMeef#ele efkeee ieee. kece&eeefjeeW kes efueS efpeve keee& #es$eeW ceW Deevleefjke HeefMe#eCe megefJeOee GHeueyOe veneR Leer Gvekes efueS yeenjer HeefMe#eCe mebmLeeveeW leLee efyepevesme mketueeW kee meneje efueee ieee, leLee 741 DeefOekeeefjeeW Je keee&HeeuekeeW ves efJeefMe< keee&#es$eeW ceW yeenjer HeefMe#eCe mebmLeeveeW Je Heefleef<"le efyepevesme mketueeW ceW HeefMe#eCe HeeHle efkeee. meeLe ner 20 DeefOekeeefjeeW Je keee&HeeuekeeW ves efJeosMe ceW Yeer HeefMe#eCe efueee. kece&eejer meccesueve : HeefjCeece neefmeue kejves kee keeHeexjs ef<keesCe leLee keee&veerefle keer peevekeejer Heefjeeueve FkeeF& mlejeW leke Hengbeveer eeefnS. nceejer Heefjeeueve FkeeFeeW kee #es$e Delevle JeeHeke SJeb efJemle=le nesves kes keejCe Fvekeer menpe HengBe Deleble egveewleerHetCe& keee& nw. keeHeexjs ef<keesCe leLee keee&veerefleeeW kees HeYeeJeHetCe& {bie mes DeJeiele kejeves leLee leovegmeej JeeJemeeefeke HeefjCeece neefmeue kejves kes efueS nceW mepeie,

cesnmeeCee ceW Deeeesefpele kece&eejer meccesueve (Employee Conclave) kee Ske Me.

mes Yeleea efkeS ieS meHe kes efueS Yeer Deeeesefpele efkeS ieS. Fmemes meHe meomeeW kees

ieefle efceueer. Fme Henue mes meYeer mlejeW Hej keee&efve<Heeove nsleg meHe keer menYeeefielee,

kece&eejer meccesueveeWb Hej HeeHle Heefleefeee Delevle GlmeenJeOe&ke Leer leLee es keee&ece meHe meomeeW kees Glmeeefnle kejves Jeeues leLee GveceW mekeejelceke meese efJekeefmele kejves Jeeues meeefyele ngS. ceeveJe mebmeeOeve veerefleeeb :

efkeee nw pees 25 osMeeW ceW yeQke keer 3000 mes DeefOeke MeeKeeDeeW / keeee&ueeeW ceW

kece&eeefjeeW meeLe ner meeLe yeQke kes efueS keg veepegke #es$e DeYeer Yeer efevleepeveke nQ. peneB Hej veerefleeeb kece&eeefjeeW kes meblegef< mlej leLee JeJemeee keee&efve<Heeove

DeefOekeeefjeeW kes mLeeveeblejCe kes veepegke #es$eeW ceW HejoMeea veerefleeeb yeveeF& ieF& nQ Fmemes keee&efve<Heeove ceW megOeej DeeSiee leLee kece&eeefjeeW kees meblegef< efceuesieer. Fmeer ece ceW Yeleea, Heoesvveefle , efJeefMe< esCeer kes DeefOekeeefjeeW kes kewefjej efJekeeme, efJeosMeeW kes efueS eeve Deeefo kes #es$eeW ceW ceewpetoe veerefleeeW keer meceer#ee keer pee jner nw Deewj peneB es efJeeceeve veneR nw, Jeneb yeveeF& pee jner nQ. meHe efmLeefle :

52

efveosMekeeW keer efjHees&

ceee& kees meceeHle Je<e& 2005 DeefOekeejer efueefHeke DeOeervemLe kegue 11848 19284 8397 39529 2006 12345 18231 8198 38774 2007 13636 16979 7989 38604 2008 13840 15777 7643 37260 2009 13542 15485 7811 36838

yeQke ves meceeeejHe$eeW DeeG-Dee@He nesce ceeref[ee leLee Geesie Hemlegefle kes efvejblej keJejspe kes ceeOece mes 'nesce ueesve Hewkejer' leLee 'SmeSceF& ueesve Hewkejer' pewmeer DeJeOeejCee Jeeues ueeskeefHee GlHeeoeW leLee eespeveDeeW kees ye{eJee osves Hej efvejblej DeHevee Oeeve kesefvle jKee. yewke ves SmeSceF& JeJemeee Keb[ nsleg ieenkeesvegketue GlHeeoeW leLee mesJeeDeeW kees ye{eJee osves kes efueS 'Fkeesvee@efcekeme eFcme ' ceW SmeSceF& Hej Ske Deueie He=<" kee MegYeejbYe efkeee. 'yeQke Dee@He] ye[ewoe Hespesvdme SmeSceF& Hewkejer' Meer<e&ke He=<" meeHleeefnke DeeOeej Hej HekeeefMele efkeee peeSiee. en DeeMee keer peeleer nw efke Je<e& kes oewjeve efkees iees HecegKe kecetefvekesMeve DeefYeeeveeW ceW Ske 'Megefeee meew meeueeW kee' Lee efpemeceW 100 Je<eeX mes efjMles yeveees jKeves kes efueS meYeer efnleOeejkeeW kes Heefle yewke kee DeeYeej Jekele efkeee ieee Lee. Je<e& kee otmeje HecegKe kecetefvekesMeve DeefYeeeve 'ye[ewoe veskem' Lee. DeefYeeeve kee ue#e ceeveJeere mebmHeMe& kes meeLe yewke keer Heeweesefiekeer DeeOeeefjle mesJeeDeeW kees Heefle<"eefHele kejvee nw. Je<e& kes oewjeve yeQke kes Meleeyoer meceejesneW keer Oetce jner. [ve Sb[ yeeC[m^er yeQefkebie DeJee[&me 'iueesyeue efyepeefveme [sJeueHecesv' esCeer ceW 'DeieCeer meeJe&peefveke yeQke' Deewj 'ceekexefbie HeYeeJeMeeruelee' nsleg efce[eme DeJee[&me, efHeuce leLee DeeefLe&ke meceer#ee nsleg 'SmeesefmeSMeve Dee@He] efyepeefveme kecetefvekesme& Dee@ He] Fbef[ee (SyeermeerDeeF&) mes 'efmeuJej ^eHeer' HeeHle ngF&. ceW yeQke kes HeeemeeW keer e=Kebuee ceW, yeQke keer eespevee peuoer ner osMeYej Hej 50 kesveW Hej keejesyeej efJekeeme kes efueS MeeKeeDeeW kes HeeemeeW kees meMekele kejves nslet Ske Deefleefjkele ceekexefbie ewveue 'efmeer mesume DeeefHeme ' mLeeefHele kejves keer nw. HeYeeJeMeeueer kecetefvekesMeve leLee jCeveerefleHejke ceekexefbie HenueeW kes meeLe yeQke ves peeHee efkeee nw. Heefjmej efJeveeme SJeb HeefjJesMe kees yesnlej yeveevee : Je<e& 2008-09 kes oewjeve efvecveefueefKele efvecee&Ce keee& SJeb efvecee&Ce ieefleefJeOeeeb HeejbYe/ mebHevve ngF&. 1. 2. 3. 4. 5. 6. 7. 8. meer-34, yeeve keguee& kee@cHeuewkeme, cegbyeF& ceW keeHeexjs mesvj ieesceleerveiej, ueKeveT ceW HeMeemeefveke YeJeve peceMesoHegj, PeejKeb[ ceW HeMeemeefveke YeJeve jepeHeerHeuee ceW MeeKee kes efueS YeJeve Iees[ [es[ jes[, metjle ceW kee@ceefMe&eue - men DeeJeemeere kee@cHeuewkeme Jeer kes DeeF& peeHegj Hevle veiej, efme[kegue ye[ewoe ceW yeQke Dee@He] ye[ewoe, Meleeyoer Je<e& (2007-2008) ceW mej meeepeerjeJe veiejie=n ye[ewoe ceW Je[esoje ceneveiej Heeefuekee kees yeQke kes 100 Je<e& Hetjs nesves

kece&eeefjeeW keer mebKee ceW Devegmetefele peeefle SJeb pevepeeefleeeW keer efmLeefle : mebJeie& DeefOekeejer efueefHeke DeOeervemLe Devegmetefele peeefle % 17.88 % 14.85% 35.03% Deveg. pevepeeefle % 6.31% 4.95% 9.09%

ceekexefbie : Je<e& kes oewjeve yeeC[ ' ye[ewoe ' DeHeves efJeMJe Yej ceW Hewues ieenkeeW kees efvejblej efJeMJe mlejere mesJeeSb Heoeve kejlee jne . mecHetCe& Je<e& kes oewjeve, yeQke kes efJeefYevve GlHeeoeW, efJeMes<ekej eeuet Keelee, yeele Keelee leLee Deve efjsue keejesyeej kees ye{eJee osves kes efueS efveeefcele efyeeer DeefYeeeve Deeeesefpele efkees iees. Heeweesefiekeer egkele mesJeeSb eLee [sefye kee[&, Fjves yeQefkebie, Dee@ve ueeFve jsefcesvme, kejeW, etefefueer efyeueeW kes Dee@veueeFve Yegieleeve kees ye{eJee osves kes efueS Je<e& kes oewjeve efJeMes<e DeefYeeeve Deeeesefpele efkees iees.

cewueeHegj leLee DeueJeej Hes , ewvveF&, Fm Dee@He kewueeMe leLee pevekeHegjer, veF& efouueer ceW efvecee&Ce HeefjeespeveeDeeW kes mebyebOe ceW wv[j peejer kejves kee keee& Debeflece ejCe ceW

53

efveosMekeeW keer efjHees&

Je<e& kes oewjeve Hetjs efkeS ieS efvecee&Ce Heespeske Deewj efpevekee GHeeesie nes jne nw. Fme mebyebOe ceW Yeeb[tHe, cegbyeF& ceW Ske efyeefu[bie efpemekee GHeeesie meye-meHe meomeeW kej efoee ieee nw. meepe meppee : MeeKeeDeeW ceW meeryeerSme kes keeee&vJeeve kes yeeo, yeQke ves DeHeves ieenkeeW keer megefJeOee kes efueS DeefOekelej MeeKeeDeeW keer meepe-meppee, DeHeies[sMeve, Heefjmej megvoj yeveeves, veee meepe-meppee keer ieF&. yeQke veW MeeKeeDeeW leLee keeee&ueeeW keer Deevleefjke meepe-meppee kes ceevekeerkejCe nsleg cenlJeHetCe& GHeee efkeS nbw. JeJemeee Heefeee efJeveeme ( efyepevesme Heesmewme jer FbpeerefveeeEjie ) kes Devleie&le yeQke ves osMe kes efJeefYevve kesveW ceW jerpeveue yewke DeeefHeme ( DeejyeerDees ) leLee efmeer yewke DeeefHeme (meeryeerDees ) mLeeefHele kejves kes efueS keoce G"eS nQ. peeHegj leLee ye[ewoe kes #es$eere yewke DeeefHeme (RBOs) keer DeeJeMekeleevegmeej meepe meppee Henues ner kej oer ieF& nw leLee Jes keee& Heefjeeueve nsleg leweej nQ. Je<e& kes oewjeve YeeJeveiej leLee peeceveiej ceW ceeFkej kesv keer meepe meppee Hetjer nes egkeer nw. leLee es keee& kej jns nQ. efJeYeeie keer o#elee ceW megOeej ueeves kes efueS DeeF& er kes Heeesie kees ye{evee. efJeYeeie keer o#elee ceW megOeej ueeves kes efueS Fmekes jespeceje& kes keecekee]pe ceW metevee Deewj Heeweesefiekeer (DeeF& er ) kee Heeesie ye{ jne nw. mebefJeoeDeeW ( kee@v^wkeme ) kees

efueS yeQke keer meefee menYeeefielee kes meeLe SveHeerS Jemetueer Hej peesj osves leLee Fmekes Heefjeeueve kees meMekele kejves kes efueS eespevee kee efeeevJeeve nes jne nw.

Heele<"eve f (jefpemseMeve keer leejerKe kes meeLe yee@ye kewefHeue ceekex efueefces[ 11 ceee& 1996 yee@yekee[& efueefces[ 29 efmelecyej 1994 meneesieer ye[ewoe Hee@eefveej Demes cewvespeceW kebHeveer efueefces[. 05 veJecyej 1992 vewveerleeue yeQke efueefces[ 31pegueeF& 1922

osMe

DeHeveer efveefOeeeb

kegue Deeefmleeeb

keeee&uee meHe

Yeejle 11205.77 11206.01 967.94

01

10

Yeejle 10379.49 21331.35

(-) 1141.81 (-) 612.08

37

143

Yeejle 7381.79

7652.64

01

31

Yeejle 17531.90 243923.18 3602.62

92

650

Deve keee&keueeHe : efkeS pee jns nQ efke ceewpetoe HeefjmejeW kee ner DeefOekelece GHeeesie efkeee peeS efpemekes Heeke=le #es$e mejsv[j kej efoee. yeQke keer en veerefle nw efke Heleske Je<e& DeefOeke mes DeefOeke Heefjmej mejsv[j efkeS peeSb. MeeKee ves Jeke& : ieenkeeW keer megefJeOee kes efueS MeeKeeDeeW keer efmLeefle (31 ceF&, 2009): MeeKee JeieeakejCe (Yeejle) ces^es Menjer ieeceerCe kegue efJeosMeer MeeKeeDeeW keer mebKee 637 540 649 1100 2926 48 kegue Mesej % 21.77 18.46 22.18 37.59 100.00 100.00

jepeYee<ee veerefle kee keeee&vJeeve : Je<e& 2008-09 kes oewjeve yeQke ves jepeYee<ee kes Heeesie SJeb Heeej Hemeej kees ye{eves

kees Hetje efkeee. Fme efoMee ceW yeQke keer GuuesKeveere Heieefle kees ceevelee osles ngS yeQke keer efJeefYevve mlejeW / cebees Hej mejenvee keer ieF& leLee yeQke kees DeefKeue mlej Hej Heefleef<"le Fbefoje ieebOeer jepeYee<ee Meeru[ mes ueieeleej leermejs Je<e& kes efueS Hegjmke=le efkeee ieee. yeQke ves Fme Hekeej nwef^ke yeveekej Ske Fefleneme jee. DeeHekes DeOe#e

Iejsuet Deveg<ebefieeeb leLee meneesieer kebHeefveeeb Je<e& 2008-09 kes oewjeve yee@yekee[& efueefces[ kees es[kej, efpemes DeeFDeejSmeer ceeveoC[eW (Deee ceevelee, Deeefmle JeieeakejCe leLee HeeJeOeeveerkejCe mebyebOeer ceneceefnce je<^Heefle eerceleer HeefleYee osJeerefmebn Heeerue mes Fbefoje ieebOeer jepeYee<ee Meeru[ ienCe kejles ngS DeOe#e SJeb HeyebOe efveosMeke. Ieee ngDee Lee, yeQke keer Deveg<ebieer kebHeefveeeW leLee meneesieer yeQke kee keee&efve<Heeove Dee jne. ye[ewoe Hee@eefveej Demes cewvespeceW kebHeveer efueefces[ kees Yeer cegKele: leLeeefHe, yeQke keer meYeer Deveg<ebefieeeW kes efueS efJekeeme Deeeespevee kee keee& eue jne nw. yee@ye kewefHeue efueefces[ kes efueS meceie keee&veerefle efveefce&le keer pee jner nw Deewj Jen peuoer ner me@ke yeesefkebie Heefjeeueve kee MegYeejbYe kejsieer. yee@yekee[& efueefces[ kes SJeb HeyebOe efveosMeke eer Sce.[er.ceuee ves efoveebke 14 efmelecyej, 2008 kees efJe%eeve YeJeve, veF& efouueer ceW Deeeesefpele meceejesn ceW ceneceefnce je<^Heefle eerceleer HeefleYee Heeefue kes neLeeW Hegjmkeej ienCe efkeee. peeHegj leLee ye[ewoe ceW yeQke kes mebeespeve ceW keee&jle veiej jepeYee<ee keeee&vJeeve meefceefleeeW ves DeHeves oeefelJeeW kee yeKetyeer efveJee&n efkeee leLee meome yeQkeeW kees

54

efveosMekeeW keer efjHees&

mecegefele ceeie&oMe&ve Heoeve efkeee. Fve meefceefleeeW kees Gvekes es<" keee&-efve<Heeove kes efueS Yeejle mejkeej, jepeYee<ee efJeYeeie, ie=n ceb$eeuee, kes #es$eere keeee&vJeeve Fmekes Deefleefjkele, nceejs Debeue keeee&uee, HegCes, peeHegj Deewj YeesHeeue leLee #es$eere keeee&uee ieesJee kees Yeer Gvekes keee&#es$e ceW Deeves Jeeues mebyebefOele #es$eere jepeYee<ee kes meHeue keeee&vJeeve nsleg Hegjmke=le efkeee ieee. Je<e& kes oewjeve, yeQke ves DeHeves kece&eeefjeeW kees etefvekees[ yengYee<eer Hewkespe kes efueS pee mekes. mebmeoere jepeYee<ee meefceefle keer leermejer GHemeefceefle ves DeeHe kes yeQke kes Debeue keeee&uee, keeee&uee, ieesJee Deewj #es$eere keeee&uee GoeHegj kee oewje efkeee leLee jepeYee<ee keeee&vJeeve keer efoMee ceW efkeS ieS HeeemeeW / keeeeX keer mejenvee keer. yeQke keer efnvoer Heef$ekee ' De#eeced ' kees efnvoer Heef$ekee esCeer kes Devleie&le Yeejleere

Gvekee egveeJe yeQke kes MesejOeejkeeW keer 23.12.2008 kees Deeeesefpele DemeeOeejCe meeceeve yeQke ceW ngDee Deewj Gvnesves 24.12.2008 mes leerve Je<e& keer DeJeefOe DeLee&le 23.12.2011 leke kes efueS DeHevee keee&Yeej ienCe kej efueee.

efveosMekeeW kes oeefelJe mecyebOeer DeefYekeLeve

efveosMeke Fme DeeMee keer Hegef< kejles nQ efke 31 ceee&, 2009 kees meceeHle Je<e& kes efueS Jeeef<e&ke uesKee leweej kejles mecee : n cenlJeHetCe& efJemebieefleeeW, eefo keesF& nes, kes mecegefele mHe<erkejCe meefnle uesKee ceevekeeW kee HetCe&leee Heeueve efkeee ieee nw. n Yeejleere efjpeJe& yeQke kes efoMee-efveoxMeevegmeej leweej keer ieF& uesKee veerefleeeW kee efvejblej Heeueve efkeee ieee nw. n efJelleere Je<e& keer meceeefHle Hej yeQke kes keee&keueeHeeW keer efmLeefle leLee 31 ceee& 2009 kees meceeHle Je<e& kes efueS yeQke kes ueeYe keer JeemleefJeke SJeb megmHe< efmLeefle Hemlegle kejves keer ef< mes leke&mebiele Deewj efJeJeskeHetCe& efveCe&e SJeb Deekeueve efkeS ieS.
n n

efjkee[& jKeves kes efueS mecegefele leLee Heee&Hle Oeeve jKee ieee nw leLee `uesKee' efvejblej DeeOeej Hej leweej efkeS ieS nQ.

efveosMeke ceb[ue DeeYeej

yeQke ves Heeweesefiekeer, ceekexefbie leLee ceeveJe mebmeeOeve kes #es$e ceW neue kes Je<eeX ceW keF& kebHeveer (GHeeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece keer Oeeje 9(3) (S) kes lenle DeOe#e SJeb HeyebOe efveosMeke kes Heo Hej HetCe&keeefueke efveosMeke efveegkele efkeee ieee. eer Sme.meer.iegHlee, efpevneWves egveeFs[ yeQke Dee@He] Fbef[ee kes DeOe#e SJeb HeyebOe DeHeves GlmeenHetCe& keeeeX kes ceeOece mes yeQke kees meeJe&peefveke #es$e ceW Ske DeieCeer yeQke DeeYeejer 2008 mes yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece keer Oeeje 9(3) (S) kes lenle keee&keejer efveosMeke kes Heo Hej HetCe&keeefueke efveosMeke efveegkele efkeee ieee. yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece keer Oeeje 9(3) (S) eer Jecee& kes veeefcele nesves Hej eer peer. meer. elegJexoer, DeeF&,S.Sme. ves efveosMeke kee HeoYeej es[ efoee Lee. kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3) (yeer) kes lenle veeefcele ngF& Leer, DeHevee keee&keeue HetCe& nesves Hej 14.09.2008 mes efveosMeke kes Heo Hej vener jner. Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3) (Se) kes lenle veeefcele ngS Les, 28.11.2008 mes leeieHe$e osves Hej efveosMeke vener jns. eer Oecexv YeC[ejer, eer ceves<e heer. cesnlee Deewj [e@. oerHeke yeer. Heeke, pees efke yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3) (Deee) kes lenle kesvere mejkeej mes efYevve MesejOeejkeeW kee HeefleefveefOelJe 15.11.2008 mes efveosMeke veneR jns. eer Oecexv YeC[ejer, [e@. oerHeke yeer. Heeke leLee eer ceesefueve S. Jew<CeJe pees efke yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 kes lenle nw. nceejs ieenkeeW ves nceejs HeeemeeW keer

eefo nceejs keg ieenkeeW keer DemegefJeOee Yeer ngF& efkevleg GvneWves ye[s mebece leLee Oewe& mes Fmes menve efkeee. nce ieenkeeW kes melele mebj#eCe SJeb Heeslmeenve kes efueS Gvekes Heefle DeHevee DeeYeej Jekele kejles nw : nceejer Heieefle ceW nceejs MesejOeejke nceejs HecegKe Yeeieeroej jns nQ. nce Gvekes meneesie SJeb meceLe&ve leLee nce Hej efkeS ieS efJeMJeeme kes efueS Gvekes DeeYeejer nQ. yeQke kee efveosMeke ceb[ue Yeejle SJeb efJeosMeeW ceW DeHeves ieenkeeW, MesejOeejkeeW Deewj efnlewef<eeeW mes efvejblej HeeHle meceLe&ve SJeb meneesie kes efueS Gvekeer HeMebmee kejlee nw. yees[&, Yeejle mejkeej, Yeejleere efj]peJe& yeQke, Yeejleere HeefleYetefle SJeb efJeefvecee yees[& (mesyeer), Deve efveeeceke HeeefOekeeefjeeW, efJeefYevve efJelleere mebmLeeDeeW, yeQkeeW leLee SJeb ceeie&oMe&ve kes efueS Gvekes Heefle neefo&ke DeeYeej Jekele kejlee nw. efveosMeke ceb[ue kes efueS SJeb Gvekeer Deesj mes`

Sce. [er. ceuee DeOe#e SJeb HeyevOe efveosMeke cegbyeF& 26 ceF&, 2009

55

yeemesue II efheuej 3 ekeerkejCe

yeemesue II efheuej 3 ekeerkejCe

Basel II Pillar 3 Disclosures
Yeejleere efjpeJe& yeQke kes veS hetbpeer heee&hlelee esceJeke& (yeemesue II) kes Devegmeej efheuej 3 kes Debleie&le ekeerkejCe
I.

Disclosures under Pillar 3 in terms of New Capital Adequacy Framework (Basel II) of Reserve Bank of India I. a. Scope of application The framework of disclosures applies to Bank of Baroda, which is the top bank in the group. The Bank has following Subsidiaries and Associates both domestic and foreign:

Devegeeesie kee #es$e

ke. ekeerkejCe kee esceJeke& yeQke Dee@He ye[ewoe hej ueeiet neslee nw, pees efke mecetn ceW meJeexe yeQke nQ. Ke. yeQke keer efvecceefueefKele Iejsuet leLee efJeosMeer Deveg<ebefieeeb leLee meneeke FkeeF&eeb, nQ : ece mebKee
Sr. No. i. ii. iii. iv.

b.

Name of the subsidiary

Deveg<ebieer kee veece

Subsidiary (Domestic) Nainital Bank Limited BOBCARDS Limited BOB Capital Market Limited BOB Asset Management Company Ltd. (Upto 20/06/2008) Subsidiary (Foreign) Bank of Baroda (U.K.) Ltd Bank of Baroda (Uganda) Ltd. Bank of Baroda (Kenya) Ltd. Bank of Baroda (Guyana) Inc. Bank of Baroda (Botswana) Ltd. Bank of Baroda (Tanzania) Ltd. Bank of Baroda (Trinidad & Tobago) Ltd. Bank of Baroda (Ghana) Ltd Baroda (New Zealand) Ltd. Bank of Baroda (Hong Kong) Ltd. (Upto 21/10/2008)

mJeeefcelJe keer meercee

Extent of ownership 98.39% 100.00% 100.00% 100.00%

v. vi. vii. viii. ix. x. xi. xii. xiii. xiv.

Deveg<ebieer (Iejsuet) vewveerleeue yeQke efueefces[ yee@ye kee[&dme efueefces[ yee@ye kewefHeue ceekex efueefces[ yee@ye Smes cewvespeceW kebHeveer efueefces[ (20.06.2008 leke) Deveg<ebieer (efJeosMeer) yeQke Dee@]He ye[ewoe (et. kes.) efueefces[ yeQke Dee@]He ye[ewoe (etieeb[e) efueefces[ yeQke Dee@]He ye[ewoe (kesvee) efueefces[ yeQke Dee@]He ye[ewoe (ieeevee) DeeF&Svemeer yeQke Dee@]He ye[ewoe (yeeslmJeevee) efueefces[ yeQke Dee@]He ye[ewoe (leebPeeefveee) efueefces[ yeQke Dee@]He ye[ewoe (ef$eefveoeo SC[ esyesiees) efueefces[ yeQke Dee@]He ye[ewoe (Ieevee) efueefces[ ye[ewoe (vetpeerueQ[) efue. yeQke Dee@]He ye[ewoe (ne@ie keeBie) efueefces[ (21.10.2008 leke) yeQke keer efvecveefueefKele Iejsuet leLee efJeosMeer meneeke FkeeF&eeb Yeer nQ.

100.00% 80.00% 86.70% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

The Bank also has following Associates both domestic and foreign: Name of the associate

ece mebKee
Sr. No. i.

meneeke FkeeF& kee veece meneeke FkeeFeeb (Iejsuet) Associate (Domestic) ye[ewoe Heeeesefveej Smes cewvespeceW kebHeveer efueefces[ (21.06.2008 Baroda Pioneer Asset Management Company Limited mes)
(From 21.06.2008) UTI Asset Management Company Limited UTI Trustee Company Pvt. Limited Jhabua Dhar K G Bank Nainital Almora K G Bank Baroda Gujarat K G Bank Baroda Rajasthan Gramin Bank Baroda U P Gramin Bank Associate (Foreign) Indo Zambia Bank Limited

mJeeefcelJe keer meercee

Extent of ownership 49.00%

ii. iii. iv. v. vi. vii. viii. ix.

25.00% 25.00% 35.00% 35.00% 35.00% 35.00% 35.00% 20.00%

eterDeeF& Smes cewvespeceW kebheveer efueefces[ eterDeeF& ^mer kebheveer eeFJes efueefces[ PeeyegDee Oeej kes peer yeQke vewveerleeue Deucees[e kes peer yeQke ye[ewoe iegpejele kes peer yeQke ye[ewoe jepemLeeve eeceerCe yeQke ye[ewoe etheer eeceerCe yeQke meneeke FkeeFeeb (efJeosMeer) Fb[es ]peebefyeee yeQke efueefces[

56

Basel II Pillar 3 Disclosures

Yeejleere meveoer uesKeekeej mebmLeeve (DeeF& meerS DeeF&) kes uesKee ceeveob[ eceMe: 21 leLee 23 kes Devegmeej mecesefkele Keelee efJeJejCeer ceW Deveg<ebefieeeW leLee meneeke FkeeFeeW kees hetCe&le: mecesefkele efkeee ieee nw. ie. Ie.
II.

The Subsidiaries and Associates are consolidated in the Consolidated Statement of Accounts as per Accounting Standard 21 and 23 respectively of Institute of Chartered Accountants of India (ICAI). c. There is no deficiency of capital in respect of any subsidiary. The bank does not have any investment in an insurance entity. Capital structure The Tier-I capital of the Bank consists of equity capital, Innovative Perpetual Debt Instrument (IPDI) and various types of reserves. The Tier-II capital consists of Revaluation Reserves (discounted as per provisions of RBI), General Loss Reserve and Provisions on Standard Assets, Upper Tier II Capital and Lower Tier II capital. Upper Tier II capital also consists of MTN Bonds issued in overseas market. The terms of unsecured redeemable debts are as under: Upper Tier 2 Capital:

efkemeer Deveg<ebieer ceW hetbpeer kes ceeceues ceW keesF& keceer veneR nw. yeQke kee efkemeer yeercee mebmLeeve ceW keesF& efveJesMe veneR nw.
d. II. a.

hetbpeeriele {ebee
yeQke keer efej - I hetbpeer ceW Mesej hetbpeer, veJeesvces<eer yesceereeoer $e+Ce efueKele (DeeF&Heer[erDeeF&) leLee efJeefYeVe ekeej keer eejef#ele efveefOeeeb Meeefceue nQ. efej - II hetbpeer ceW hegvecet&ueebkeve efveefOeeeb (Yee.efj.yew.kes. eeyeOeveeW kes Devegmeej ye eiele), meeceeve neefve efveefOe, ceeveke DeefmleeeW hej eeJeOeeve, Ge efej - II leLee efvecve efej - II hetbpeer Meeefceue nQ. Ge efej II hetbpeer ceW efJeosMeer yeepeej ceW peejer SceerSve yee@C[ Yeer Meeefceue nQ. yespeceeveleer eefleose $e+CeeW keer MeleX Fme ekeej nQ : Ge efej 2 hetbpeer

S.

e=bKeuee e=Kebuee VII e=Kebuee VIII e=Kebuee IX ef[yeWej SceerSve efej II yee@C[ (efJeosMeer)

Series Series VII Series VIII Series IX Debenture MTN Tier II Bonds (Overseas)

yeepeoj
Interest Rate (%) 9.30 9.30 9.15 8.30 6.625

heefjhekeJelee keer leejerKe

Date of maturity 28.12.2022 04.01.2023 04.03.2024 06.09.2009 25.05.2022 (kee@ue Dee@hMeve kes meeLe with call option on 25.05.2017) Amount in Rs. Crs. 500 1000 1000 20 1522

kegue TOTAL

4042

eqvecve efej 2 hetbpeer

Lower Tier 2 Capital:

yeepeoj e=Kebuee e=Kebuee II e=Kebuee IV e=Kebuee V e=Kebuee VI e=Kebuee X

Series Series II Series IV Series V Series VI Series X Interest Rate (%) 14.30 5.85 7.45 8.95 8.95

heefjhekeJelee keer leejerKe

Date of maturity 09.04.2009 02.07.2014 28.04.2015 15.05.2016 12.04.2018 Amount in Rs. Crs. 300 300 770 920 500

kegue TOTAL

2790

57

yeemesue II efheuej 3 ekeerkejCe

yeer. yeQke keer efej - I hetbpeer Fme ekeej nw :

i ii

b.

The Tier 1 capital of the bank is as under: ( / Amount in Rs. Crore) 11687.39 365.53 11021.66 300.20 617.75 11069.64

kegue efej - I hetbpeer efpemeceW mes eoe Mesej hetbpeer

i ii iii

Total Tier I Capital Out of which: Paid up share capital Reserves excluding revaluation reserves Innovative Perpetual Debt Instrument Deductions Eligible Tier I Capital c.

iii

hegvecet&ueebkeve eejef#ele efveefOeeeW kes DeueeJee efveefOeeeb

iv

iv

veJeesvces<eer yesceereeoer $e+Ce efueKele

v v

keewefleeeb
vi

Hee$e efej - I Hetbpeer

vi

meer. [er.

yeQke keer kegue efej 2 hetbpeer (efej 2 hetbpeer ceW mes Meg keewleer) 7244.12
d.

The Total amount of Tier 2 capital of the bank (net of deduction from tier 2 capital) is Rs. 7244.12 Crore. The debt capital instruments eligible for inclusion in Upper Tier 2 capital are:

Ge efej 2 hetbpeer ceW meceeJesMeve kes efueS hee$e $e+Ce hetbpeer efueKeleW Fme ekeej nQ:

( Total amount outstanding

Rs in Crore) 4042 1000 4022

yekeeee kegue jeefMe

Of which amount raised during the current year

efpemeceW mes eeuet Je<e& kes oewjeve JeefOe&le jeefMe

Amount eligible to be reckoned as capital funds e.

F&.

efvecve efej 2 hetbpeer ceW meceeJesMeve kes efueS hee$e ieewCe $e+Ce hetbpeer efueKeleW Fme ekeej nQ :

Subordinated debt capital instruments eligible for inclusion in Lower Tier 2 capital are: ( Rs in Crore) 2790 500 2490

yekeeee kegue jeefMe efpemeceW mes eeuet Je<e& kes oewjeve JeefOe&le jeefMe

Total amount outstanding Of which amount raised during the current year Amount eligible to be reckoned as capital funds

SHe. hetbpeer heee&hlelee keer ieCevee kes efueS ceeveke DeeefmleeeW kes eefleYeteflekejCe kes mebyebOe ceW yeQke eje oer ieF& Deefece Je=ef ieejber kes efueS efej II hetbpeer ceW mes

f.

For computation of Capital Adequacy, a deduction of Rs. 64.20 Crore has been done from Tier II capital towards credit enhancement guarantee given by the bank in respect of securitization of standard assets. The total eligible capital comprises of: ( Rs in Crore) 11069.64 7244.12 18313.76

peer. kegue hee$e hetbpeer ceW efvecveefueefKele Meeefceue nQ :

g.

efej - I hetbpeer efej - II hetbpeer ]kegue

III.

Tier I Capital Tier II Capital TOTAL III. a.

hetbpeer heee&hlelee

ke. peceekelee&DeeW leLee meeceeve $e+CeoeleeDeeW kees neefveeeW mes megjef#ele jKeves kes efueS Skemhees]pejeW, keejesyeejeW Fleeefo kes cetue ceW neefve kes peesefKece mes yeeves kes efueS yeQke kee mlej yeveeS jKeleer nQ, yeQke kes heeme efveeeceke leLee DeeefLe&ke hetbpeer oesveeW kes efueS Ske Skeerke=le peesefKece / hetbpeer cee@[ue leweej kejves nsleg leeefke meYeer peesefKeceeW SJeb Gefele hetbpeer Deeyebve kees Jeeheke he mes cetueebefkele efkeee pee mekes, Ske megheefjYeeef<ele Deebleefjke hetbpeer heee&hlelee cetueebkeve veerefle (DeeF&meerSSheer) nw. Yeejleere efj]peJe& yeQke kes efoMeeefveoxMeeW kes Devegmeej yeQke ves Deefece peesefKece,

Capital Adequacy Bank maintains capital to cushion the risk of loss in value of exposure, businesses etc. so as to protect the depositors and general creditors against losses. Bank has a well defined Internal Capital Adequacy Assessment Process (ICAAP) policy to comprehensively evaluate and document all risks and appropriate capital allocation so as to evolve a fully integrated risk/capital model for both regulatory and economic capital. In line with the guidelines of the Reserve Bank of India, the Bank has adopted Standardised Approach for Credit

58

Basel II Pillar 3 Disclosures

heefjeeueve peesefKece kes efueS DeeOeejYetle mebkesleke heefle leLee meerDeejDeej keer ieCevee kes efueS yeepeej peesefKece nsleg ceevekeerke=le DeeJeefOeke heefle Deheveeeer nw. mes nesves Jeeues peeseKece mes eYeeefJele nesleer nw. yeQke keer hetpeeriele Deeeespevee kee GsMe f b DeeefLe&ke heefjefmLeefleeeW kes heefjJele&ve kes mecee, eneb leke efke DeeefLe&ke ceboer kes oewj ceW Yeer hetpeer heee&hlelee kees megeveefMele kejvee nw. hetbpeeriele Deeeespeve keer eefeee ceW b f yeQke efvecveefueefKele keer meceer#ee kejlee nw: yeQke keer ceewpetoe hetbpeeriele DeeJeMekelee. keejesyeej jCeveerele leLee peeseKece eJe=ee kes meboYe& ueef#ele leLee OeejCeere hetpeer f f f b YeefJe<e keer hetbpeeriele Deeeespevee Deieues leerve Je<e& kees Oeeve ceW jKekej keer peeleer nw. hebpeeriele Deeeespeve kees Jeeef<e&ke DeeOeej hej mebMeeseOele efkeee peelee nw. yeQke keer t f veerele Deebleefjke hetpeer heee&hlelee cetueebkeve veerele (vetvelece 12% hetpeer heee&hlelee f b f b Devegheele ee mecee-mecee hej yeQke kes efveCe&eevegmeej) ceW efveOee&ejle hetpeer kees yeveeS f b jKevee nw, Fmekes meeLe ner yeQke keer veerele YeefJe<e ceW keejesyeej Je=e kes efueS hetpeer f f b kees yeveees jKevee nw leeefke DeeJeMeke vetvelece hetpeer kees melele DeeOeej hej yeveeS b jKee pee mekes. Devegceeve kes DeeOeej hej yeQke Deheves efveosMeke ceb[ue kes Devegceesove mes efej - I ee efej - 2 ceW hetpeer Gieenlee nw. yeQke kes efveosMeke ceb[ue eje b efleceener DeeOeej hej yeQke keer hetpeer heee&hlelee efmLeefle keer meceer#ee keer peeleer nw. b Ke) 31.03.2009 leke yeQke kes peesefKece Yeeefjle DeeefmleeeW (Deej[yueetS), vetvelece hetbpeeriele DeeJeMekelee leLee JeemleefJeke hetbpeer heee&hlelee keer efmLeefle efvecveevegmeej nw.

Risk, Basic Indicator Approach for Operational Risk and Standardized Duration Approach for Market Risk for computing CRAR. The capital requirement is affected by the economic environment, the regulatory requirement and by the risk arising from banks activities. The purpose of capital planning of the bank is to ensure the adequacy of capital at the times of changing economic conditions, even at the times of economic recession. In capital planning process the bank reviews:

business strategy and risk appetite. outlook. The capital plan is revised on an annual basis. The policy of the bank is to maintain capital as prescribed in the ICAAP Policy (minimum 12% Capital Adequacy Ratio or as decided by the Bank from time to time). At the same time, bank has a policy to maintain capital to take care of the future growth in business so that the minimum capital required is maintained on continuous basis. On the basis of the estimation bank raises capital in Tier-1 or Tier-2 with the approval of its Board of Directors. The Capital Adequacy position of the bank is reviewed by the Board of the Bank on quarterly basis. The position of Banks Risk Weighted Assets (RWA), Minimum Capital requirement and Actual Capital Adequacy as on 31.03.2009 are as under:

b.

(i) $e+Ce peesefKece kes efueS hetbpeeriele DeeJeMekelee

(i)

Capital requirements for credit risk:

Deej[yuetS (yeemeue - II)/Hetbpeer

RWA(Basel-II) / Capital

(jeefMe kejes[ cesb/

(Amount in Rs. Crore) Portfolios subject to standardised approach in respect of credit risk Securitisation exposures 113498.32

$e+Ce peesefKece kes mebyebOe ceW mebefJeYeeie ceevekeerke=le efkeesCe kes DeOeOeerve eefleYeteflekejCe Skemhees]pej

NIL 113498.32 10214.85

Total RWAs in Credit Risk

$e+Ce peesefKece ceW kegue Deej[yuetS Deej[yuetS kes 9.00% keer oj mes $e+Ce peesefKece kes efueS vetvelece hetbpeeriele DeeJeMekelee (ii) efvecve kes meboYe& ceW yeepeej peesefKece kes efueS hetbpeeriele DeeJeMekelee yeepe oj peesefKece
Foreign exchange risk (including gold) 193.57 2758.58 8951.35 805.62 Minimum Capital Requirement for Credit Risk @9.00% of the RWAs (ii) Capital requirements for market risk in respect of : Interest rate risk 5999.20

efJeosMeer cege peesefKece (mJeCe& meefnle)

Equity risk

FeqkeJeer peesefKece
Total RWAs in respect of Market Risk

yeepeej peesefKece kes mebyebOe ceW kegue Deej[yuetS Deej[yuetS kes 9.00% keerr oj mes yeepeej peesefKece kes efueS vetvelece hetbpeeriele DeeJeMekelee
Minimum Capital Requirement for Market Risk @9.00% of the RWAs

59

yeemesue II efheuej 3 ekeerkejCe

(iii)

(iii) Capital requirements for operational risk:

Heefjeeueve peesefKece kes efueS Hetbpeeriele DeeJeMekelee : DeeOeejYetle mebkesleke Heefle Deej[yuetS kes 9.00% keer oj mes Heefjeeueve peesefKece kes efueS vetvelece Hetbpeeriele DeeJeMekelee
(iv)

Basic indicator approach Minimum Capital Requirement for Operational Risk @9.00% of the RWAs (iv) Total RWA , Capital & CRAR

7875.22 708.77

kegue Deej[yuetS, Hetbpeer SJeb meerDeejSDeej $e+Ce, yeepeej leLee Heefjeeueve peesefKece kes mebyebOe ceW kegue Deej[yuetetS Deej[yetS kes 9.00% keer oj mes $e+Ce, yeepeej leLee Heefjeeueve peesefKece kes efueS Hetbpeeriele DeeJeMekelee JeemleefJeke efmLeefle hee$e efej I hetbpeer hee$e efej II hetbpeer kegue hee$e hetbpeer
Total capital ratio for Bank of Baroda: Eligible Tier I Capital Eligible Tier II Capital Total Eligible Capital 11069.64 7244.12 18313.76 Total RWAs in respect of Credit, Market & operational Risk Minimum Capital Requirement for Credit Market & Operational Risk @9.00% of the RWAs Actual Position 130324.89 11729.24

yeQke Dee@He ye[ewoe kes efueS kegue Hetbpeeriele DevegHeele

CRAR 14.05% 8.49% 5.56%

meerDeejSDeej kegue Deej[yuetS kes efueS efej I hetbpeer kegue Deej[yuetS kes efueS efej II hetbpeer
IV.

Tier I capital to Total RWA Tier II capital to Total RWA

IV. General disclosures in respect of Credit Risk

$e+Ce peesefKece kes meboYe& ceW meeceeve ekeerkejCe

yeQke keer $e+Ce DeeefmleeeW kees Jeieeake=le kejves kes efueS yeQke keer efvecveefueefKele veerefle nw : iewj efve<heeoke Deeefmleeeb (SveheerS) : iewj efve<heeoke Deeefmleeeb (SveheerS) Ske Ssmee $e+Ce ee Deefece nw peneB i) ceereeoer $e+Ce kes meboYe& ceW 90 efove mes DeefOeke keer DeJeefOe kes efueS cetueOeve kee yeepe leLee / ee efkeMle. Deefleose nes peeleer nw. ii) DeesJej [^eHe / vekeo GOeej (Dees [er / meer meer) kes mebyebOe ceW Keelee DeeG Dee@He Dee[&j jne nw. iii) Kejeros ieS leLee yes Keeles [eues ieS 90 efoveeW mes DeefOeke keer DeJeefOe kes efueS yekeeee Deefleose efyeue iv) DeuheeJeefOe HemeueeW kes efueS oes Hemeueer ceewmeceeW kes efueS cetue jeefMe keer efkeMle DeLeJee Gme hej yekeeee yeepe Deefleose nes peelee nw. v) uecyeer DeJeefOe keer HemeueeW kes efueS Ske Hemeueer ceewmece nsleg cetue jeefMe keer efkeMle DeLeJee Gme hej yekeeee yeepe Deefleose nes peelee nw. Keeles ceW mJeerke=le meercee / DeenjCe meercee mes DeefOeke jeefMe efvejvlej Keeles ceW yekeeee Mes<e mJeerke=le meercee / DeenjCe meercee mes kece jnlee efoveeW kes efueS DeLeJee Gmeer DeJeefOe kes oewjeve veeces efkeS ieS yeepe keer Jemetueer nsleg pecee jeefMe Mes<e veneR nes lees Ssmes KeeleeW kees Kejeye Keeles keer esCeer ceW ceevee peeesiee. efkemeer Yeer $e+Ce megefJeOee kes Devleie&le yeQke kees ose efkemeer Yeer jeefMe kees Deefleose ceevee peeesiee eefo en yeQke eje efveOee&efjle ose leejerKe kees Yegieleeve veneR keer peeleer nw. iewj efve<Heeoke efveJesMe (Sve Heer DeeF&) eefleYetefleeeW kes mebyebOe ceW peneB yeepe/cetueOeve yekeeee nw, yeQke eefleYetefleeeW Hej Deee keer ieCevee veneR kejlee nw leLee efveJesMe kes cetue ceW cetueeme kes De.
a. The policy of the bank for classifying banks loan assets is as under: Non Performing Assets (NPA): A non performing asset (NPA) is a loan or an advance where; i) interest and/ or instalment of principal remain overdue for a period of more than 90 days in respect of a term loan, the account remains out of order in respect of an Overdraft/Cash Credit (OD/CC), the bill remains overdue for a period of more than 90 days in the case of bills purchased and discounted, the instalment of principal or interest thereon remains overdue for two crop seasons for short duration crops, the instalment of principal or interest thereon remains overdue for one crop season for long duration crops. An OD/CC account is treated as out of order if the outstanding balance remains continuously in excess of the sanctioned limit/drawing power. In cases where the outstanding balance in the principal operating account is less than the sanctioned limit/drawing power, but there are no credits continuously for 90 days as on the date of Balance Sheet or credits are not enough to cover the interest debited during the same period, these accounts are treated as out of order. An amount due to the bank under any credit facility is overdue if it is not paid on the due date fixed by the bank. Non Performing Investments (NPI): In respect of securities, where interest/principal is in arrears, the Bank does not reckon income on the

ii) iii) (iv) (v)

60

Basel II Pillar 3 Disclosures

(i)

ueS mecegefele eeJeOeeve kejlee nw. iewj efve<Heeoke efveJesMe (SveHeerDeeF&) pees iewj efve<Heeoke Deefece (SveHeerS) kes meceeve ner nw, Gmes kenles nw peneB : yeepe / efkeMle (HeefjHekeJe eeeqHleeeW meefnle) ose nw Deewj 90 efoveeW mes DeefOeke mecee leke Deoe jnlee nw. en DeefOeceeve MesejeW Hej peneB efveOee&efjle ueeYeebMe kee Yegieleeve venerb efkeee ieee nw, DeeJeMeke HeefjJele&veeW meefnle ueeiet neslee nw. F&eqkeJeer MesejeW kes ceeceues ceW, peneB efkemeer kebHeveer kes MesejeW kes efveJesMe kejves kes Devegmeej Deeleve legueve He$e keer DevegHeueyOelee kes keejCe Gve F&eqkeJeer

securities and makes appropriate provisions for the depreciation in the value of the investment. A non-performing investment (NPI), similar to a nonperforming advance (NPA), is one where: (i) (ii) (iii) Interest/ installment (including maturity proceeds) is due and remains unpaid for more than 90 days. This applies mutatis-mutandis to preference shares where the fixed dividend is not paid. In the case of equity shares, in the event the investment in the shares of any company is valued at Re.1 per company on account of the non-availability of the latest balance sheet in accordance with the Reserve Bank of India instructions, those equity shares are also reckoned as NPI. If any credit facility availed by the issuer is NPA in the books of the bank, investment in any of the securities issued by the same issuer is treated as NPI and vice versa. The investments in debentures / bonds which are deemed to be in the nature of advance are subjected to NPI norms as applicable to investments. Non Performing Assets of the Bank are further classified in to three categories as under: Sub standard Assets A sub standard asset is one which has remained NPA for a period less than or equal to 12 months. All the recovery measures are relevant in substandard assets also. If the entire overdues are recovered by way of cash recovery, the account can be upgraded to standard category immediately. Similarly, if an account is classified as NPA due to technical reasons, the account shall be upgraded on clearance of technical reasons. Doubtful Assets An asset would be classified as doubtful if it remained in the sub standard category for 12 months. A sub standard asset is straightaway classified as doubtful asset if the realizable value of security in the account, as assessed by the bank or accepted by RBI at the time of last inspection; as the case may be, is less than 50 percent of the outstanding in the account,. Substandard and Doubtful accounts which are subjected to restructuring/ rescheduling, can be upgraded to standard category only after a period of one year after the date when first payment of interest or of principal, whichever is earlier, falls due, subject to satisfactory performance during the period. Loss Assets A loss asset is one where loss has been identified by the bank or by internal or external auditors or by RBI inspectors. In Loss assets, realizable value of security available is not more than 10% of balance outstanding/ dues. Since security back up is not available, the restructuring/ rehabilitation, if required, is considered with utmost care.

(ii)

(iii)

(iv)

eefo peejerkelee& eje eeHle keer ieF& keesF& $e+Ce megefJeOee yeQke keer yeefneeW ceW SveHeerS nw lees Gme peejerkelee& eje peejer keer ieF& efkemeer Yeer eefleYetefle ceW efveJesMe kees SveHeerDeeF& leLee efJeueescele: ceevee peeSiee.

(iv)

(v)

(v)

Hej ueeiet nesves Jeeues SveHeerDeeF& ceeveob[ mes DeOeOeerve nQ. yeQke keer iewj efve<Heeoke DeefmleeeW kees Deeies efvecveefueefKele -3- esefCeeeW ceW Jeieer&ke=le efkeee ieee nw. DeJeceeveke Deeefmleeeb DeJeceeveke Deeefmle mes DeefYeeee, Ssmeer DeefmleeeW mes nw pees efke 12 cenerveeW keer DeJeefOe mes kece DeLeJee Gme kes mecelegue kes efueS iewj efve<heeoke Deeefmle jner nes. meYeer Jemetueer mebyebOeer Gheee-DeJeceeveke DeefmleeeW mes Yeer mecyeefOele nQ. eefo mechetCe& esCeer kes Devleie&le Dehees[ efkeee pee mekelee nw. Fmeer ekeej eefo keesF& Keelee keejCeeW kes mebyebOe ceW keueerejWme eehle nesves hej Dehees[ efkeee peeesiee. mebefoiOe Deefmleeeb efkemeer Yeer Deefmle kees 12 cenerveeW kes efueS DeJeceeveke esCeer ceW yeves jnves

ceW eefleYetefle kee Jemetleer eesie cetue, pewmee yeQke eje efveOee&efjle efkeee ieee nw Yeejleere efjpeJe& yeQke eje Debeflece efvejer#eCe kes mecee mJeerkeej efkeee ieee nw, pewmeer Yeer efmLeefle nes Keeles ceW yekeeee jeefMeees kes 50 eefleMele mes kece nw. DeJeceeveke leLee mebefoiOe KeeleeW mes DeefYeeee nw, Ssmes Keeles efpevekeer DeJeefOe kee hegveefve&Oee&jCe efkeee pee mekelee nw, hegve:meejCeer ye nes mekeles nes, GvnW ceeveke esCeer kes Devleie&le Ske Je<e& keer DeJeefOe kes heeele Gme leejerKe kees peye yeepe DeLeJee cetue jeefMe kee eLece Yegieleeve efkeee ieee nes, DeJeefOe kes oewjeve meblees<epeveke keee&efve<heeove kes efiele ose leejerKe FveceW mes pees Yeer henues nes, kees ceeveke esCeer ceW Dehees[ efkeee pee mekelee nw. neefve Deefmleeeb neefve Deefmle mes DeefYeeee Ssmeer Deefmle mes nQ peneb neefve yeQke DeLeJee Deebleefjke DeLeJee yeee uesKee hejer#ekeeW DeLeJee Yeejleere efjpeJe& yeQke kes efvejer#eCe eje helee eueer nes. neefve DeefmleeeW ceW GheueyOe eefleYetefle kee Jemetueer eesie cetue yekeeee Mes<e / oseeW kee 10% mes DeefOeke veneR neslee nw, etbefke eefleYetefle yeskeDehe GheueyOe veneR neslee nw. DeeJeMeke nes lees efveOee&jCe / hegvemLee&heve hej Deefle meeJeOeeveerhetJe&ke efJeeej efkeee peelee nw.

61

yeemesue II efheuej 3 ekeerkejCe

Ke. keee&veerefle SJeb eefeeeSb

b.

Strategies and Processes: The bank has a well defined Loan Policy & Investment Policy covering the important areas of credit risk management as under: economy, different types of borrowers and their group and industry

mes heefjYeeef<ele $e+Ce veerele SJeb efveJesMe veerele nw pees efvecceevegmeej nw : f f DeLe&JeJemLee kes efJeefYeVe #es$eeW ceW Skemeheespej meerceeSb, $e+efCeeeW kes efJeefYeVe ekeej Deewj Gvekes ieghe Deewj Geesie $e+Ce efJelejCe ceW Gefele JeJenej mebefnlee yeQke kes eefOekeejer kes efJeefYeVe mlejeW kes efueS $e+Ce eoeve kejves mebyebOeer efJeJeskeeefOekeej $e+Ce efJelejCe mJeerke=efle hetJe& efvejer#eCe, j kejvee, cetueebkeve, mJeerke=efle, omleeJespeerkejCe, ceeveerefjbie Deewj Jemetueer kes mebyebOe ceW eefeeeSb cetue efveOee&jCe ie. $e+Ce peesefKece oMe&ve, yeQke keer mebjevee Deewj eCeeueer efvecveevegmeej nQ : $e+Ce peesefKece oMe&ve : yeQke kes mebmeeOeveeW keer megj#ee kes meeLe keeheexjs Je=ef SJeb mece=ef megefveefMele kejves kes meeLe en megefveefMele kejvee efke Mesej OeejkeeW kes DeeefLe&ke cetue ceW ye{esejer nes leLee meYeer efnle OeejkeeW kes efnle mebjef#ele nes, Fme ef mes $e+Ce ceW Je=ef kejvee leLee peesefKece vetvelece nes. keejiej yeveeesb leeefke efJeefYeVe ewveueeW kees hejmhej pees[e pee mekes leLee yeQke kes meeceeve ue#eeW Deewj GsMeeW keer eeefhle keer pee mekes. DeLe&JeJemLee keer efJeefYeVe je^ere eeLeefcekeleeDeeW kees eespeveeye {bie mes hetje kejves kes efueS mebmLeeiele efJee kes DeefYeefveeespeve eje DeLe&JeJemLee kes efJeefYeVe Glheeoke #es$eeW ceW eespeveeye {bie mes ue#e eehle efkeS pee mekes. GeceJeej $e+Ce mebmke=efle efJekeefmele kejvee Deewj heefjeeueve me@He kees meneesie eoeve kejvee. efJeefYeVe $e+Ce mesieceW kees DeeJeMekelee hej DeeOeeefjle Deewj mecee hej $e+Ce megefJeOee GheueyOe kejJeevee. mJeerke=eflehetJe&, mJeerke=efle Ghejeble ceeefveefjbie, hee&Jes#eCe Deewj DevegJeleea keoce G"eles ngS pewmeer $e+Ce eyebOeve keer o#elee kees meg{ yeveevee leeefke yeQke ceW keejiej $e+Ce mebmke=efle efJekeefmele keer pee mekes leLee $e+Ce mebefJeYeeie kees iegCeJeee ege yeveeee pee mekes. iegCeJeee cetueebkeve SJeb ieefle kes meeLe efJemle=le ceeie&efveosMeeW keer hetCe& Devegheelevee DeefOeke eYeeJehetCe& {bie mes kejles ngS $e+Ce emleeJeeW hej keee&Jeener kejvee. yeQke / Deve eeefOekeeefjeeW, efveJesMe ceeveob[eW, eeLeefcekelee eehle #es$e kes ceeveob[eW, Deee heneeve Deewj Deeefmle JeieeakejCe ceeie&efveoxMe, hetbpeeriele heee&hlelee, $e+Ce peesefKece eyebOeve ceeie&efveoxMeeW Deeefo keer Devegheeuevee kejvee. yeQke keer mebjevee Deewj eCeeefueeeb yeQke ceW peesefKece eyebOeve keee&keueeheeW keer osKejsKe leLee mecevJee keeeex kes efueS yees[& eje efveosMekeeW keer Ske Ghemeefceefle kee ie"ve efkeee ieee nw. $e+Ce veerefleeeW meefnle efJeefYeVe $e+Ce peesefKece veerefeeeW kees leweej kejves Deewj Gve kee efeeevJeeve megefveefMele kejves, $e+Ce eoeve kejves mebyebOeer veerefleeeW Deewj yeQke keer GeceJeej peesefKece eyebOeve keeeex keer efveeefcele osKejsKe kejves kes efueS $e+Ceveerefle meefceefle kee ie"ve efkeee ieee nw.
c.

of authority of the bank sanction inspection, rejection, appraisal, sanction, documentation, monitoring, and recovery.

The Credit Risk philosophy, architecture and systems of the bank are as under: Credit Risk Philosophy: envisaged in order that the Economic Value Addition to Shareholders is maximized and the interests of all the stakeholders are protected alongside ensuring corporate growth and prosperity with safety of banks resources. of the bank in an orderly manner to enable the various channels to incline and achieve the common goal and objectives of the Bank. of deployment of institutional finance to facilitate achieving planned growth in various productive sectors of the economy. and to assist the operating staff. credit to various borrower segments. namely pre-sanction, post-sanction monitoring, supervision and follow-up measures so as to promote a healthy credit culture and maintain quality credit portfolio in the bank. with quality assessment, speedy delivery, in full compliance with extant guidelines. more particularly on Exposure norms, Priority Sector norms, Income Recognition and Asset Classification guidelines, Capital Adequacy, Credit Risk Management guidelines etc. of RBI/ other Authorities. Architecture and Systems of the Bank: by the Board to specifically oversee and co-ordinate Risk Management functions in the bank. formulate and implement various credit risk strategy including lending policies and to monitor Banks Enterprise-wide Risk Management function on a regular basis.

62

Basel II Pillar 3 Disclosures

$e+Ce emleeJeeW kes ceevekeeW, efJeeere emebefJeoeDeeW, jsefbie ceevekeeW leLee yeWeceeke& kes mebyebOe ceW ceeveke veerefleeeb leweej kejvee. $e+Ce peesefKece eyebOeve mesue efveOee&efjle meerceeDeeW kes Yeerlej heneeve, ceehe, osKejsKe leLee $e+Ce peesefKece efveeb$eCe mebyebOeer keee& osKelee nw. yees[& / efveeecekeeW Deeefo eje leweej keer ieeer peesefKece hewjeceerme& leLee mebYeeJevee meerceeDeeW kees ueeiet kejvee leLee Gvekee Devegheeueve megefveefMele kejvee. peesefKece cetueebkeve eCeeefueeeW kees leweej kejvee, Sce DeeF& Sme kee efJekeeme kejvee Deewj $e+Ce mebefJeYeeie keer iegCeJeee keer osKejsKe, mecemeeDeeW keer heneeve, keceer kees hetje kejvee. mebefJeYeeie cetueebkeve kejvee, DeLe&JeJemLee Gheeesie hej legueveelceke efJeJesevee leweej kejvee, $e+Ce mebefJeYeeie hej ueeeruesheve kee hejer#eCe kejvee.

proposals, financial covenants, rating standards and benchmarks. identification, measurement, monitoring and controlling credit risk within the prescribed limits. parameters and prudential limits set by the Board/ regulator etc., developing MIS, monitoring quality of loan portfolio, identification of problems, correction of deficiencies. studies on economy, industry, test the resilience on the loan portfolio etc., compliance of laid down norms and guidelines. d. The Scope and Nature of Risk Reporting and / or Measurement System: The Bank has in place a robust credit risk rating system for its credit exposures. An effective way to mitigate credit risks is to identify potential risks in a particular asset, maintain a healthy asset quality and at the same time impart flexibility in pricing assets to meet the required risk-return parameters as per the Banks overall strategy and credit policy. The Banks robust credit risk rating system is based on internationally adopted frameworks and global best practices and assists the Bank in determining the Probability of Default and the severity of default, among its loan assets and thus allow the Bank to build systems and initiate measures to maintain its asset quality. e. The Quantitative Disclosures in respect of Credit Risk are as under: ( jeefMe kejes[es ceW Amount in Rs. Crores)

$e+Ce meghego&ieer eCeeueer ceW megOeej ueevee. Ie. peeseKece efjheexeie keer mebYeeJeveeSb Je eke=efle Deewj/DeLeJee Deekeueve heefle. f f b

kejves pee jne nw. $e+Ce peesefKeceeW kees kece kejves kes eYeeJeer Gheeeesb ceW efkemeer Yeer Deeefmle efJeMes<e ceW peesefKece keer mebYeeJeveeDeeW kee helee ueieevee, meg{ Deeefmle Dehesef#ele peesefKece efjve& hewjeceerme& kees hetje kejves kes efueS keerceleer DeeefmleeeW ceW ueeseveerelee yeveevee Meeefceue nQ. yeQke keer ke[er $e+Ce peeseKece jseie eCeeueer Devleje&ee mlej hej Deheveees pee f f b ^r kees $e+Ce DeeefmleeeW kes yeere etke keer mebYeeJeveeDeeW kee efveOee&jCe kejves leLee etke keer iebYeerjlee kee helee ueieeves ceW meneesie kejleer nQ Deewj Fme ekeej yeQke kees heefle efvecee&Ce leLee Deeefmle iegCeJeee kees yejkejej jKeves ceW ceoo kejleer nw. [. $e+Ce peesefKece kes mebyebOe ceW cee$eelceke efmLeefle efvecceevegmeej nw.

Industry

Geesie
(i) kegue mekeue $e+Ce peesefKece SkemeHeespej (i) Total gross credit risk exposures (global) (ii) Geographic distribution of exposures, Overseas

efveefOe DeeOeeefjle

iewjefveefOe DeeOeeefjle

kegue

Fund Based Non Fund Based Total 144843.88 22356.51 167200.39

(Jewefeke)
(ii) peesefKece kee Yeewieesefueke efJelejCe 34866.85 109977.03 3958.27 38825.12

DeesJejmeerpe Iejsuet
(iii)

Domestic (iii)Industry type distribution of exposures (Domestic exposure) Industry

18398.24 128375.27

Geesie keeseuee Keveve ueesne SJeb Fmheele Deve Oeeleg SJeb Oeeleg Glheeo meYeer Fbpeerefveeefjbie

COAL MINING IRON & STEEL OTHER METALS & METAL PRODUCT ALL ENGINEERING

48.22 360.74 5371.14 1118.98 2787.32

81.83 168.51 2368.69 406.64 2178.44

130.05 529.25 7739.83 1525.62 4965.76

63

yeemesue II efheuej 3 ekeerkejCe

Industry

Geesie
OF WHICH : ELECTRONICS

efveefOe DeeOeeefjle

iewjefveefOe DeeOeeefjle

kegue
Total 862.19

Fund Based Non Fund Based 710.95 151.24

efpemeceW mes Fueske^e@efvekeme Fueske^erefmeer kee@ve skemeeFume pet skemeeFume Deve skemeeFume eerveer eee Het[ eesmesefmebie Keeves kee lesue (Jevemheefle meefnle) lecyeeket SJeb lecyeeket Glheeo keeiepe SJeb keeiepe Glheeo jye[, SJeb jye[ Glheeo kesefcekeue, [eF& heWme SJeb Hej Fvecesb mes Heef&ueeFpeme& hes^es kesefcekeume [^ipe SJeb Heecee&metefkeume meerceW uewoj SJeb uewoj Glheeo pescme SJeb pJesuejer efvecee&Ce hes^esefueece ^ke meefnle Dee@esceesyeeFue kechetj mee@HeJesej DeeOeejYetle megefJeOeeSB FveceW mes Hee@Jej mebeej me[ke yebojieen Deve DeeOeejYetle megefJeOeeSb iewj yeQefkebie efJeeere kecheefveeeb ^sef[bie Deve Geesie efpemeceW mes : Hese HeoeLe& ueke[er iueeme hueemerke kegue

ELECTRICITY (GEN. & TRANS.) COTTON TEXTILES JUTE TEXTILES OTHERS TEXTILES SUGAR TEA FOOD PROCESSING VEGETABLE OILS (INCL.VANASPA TOBACCO & TOBACCO PRODUCTS PAPER & PAPER PRODUCTS RUBBER & RUBBER PRODUCTS CHEMICALS,DYES,PAINTS & PHAR OF WHICH : FERTILIZERS PETRO-CHEMICLAS DRUGS & PHARMACEUTI CEMENT LEATHER & LEATHER PRODUCTS GEMS & JEWELLERY CONSTRUCTION PETROLIUM AUTOMOBILES INCLUDING TRUCKS COMPUTER SOFTWARE INFRASTRUCTURE OF WHICH: POWER TELECOMMUNICATION ROADS PORTS OTHER INFRASTRUCTURE NBFCs TRADING OTHER INDUSTRIES OF WHICH: BEVERAGES WOOD GLASS PLASTIC TOTAL

1289.46 2141.22 87.61 3374.56 356.38 19.53 829.86 183.63 14.56 554.03 210.73 8525.59 370.27 5345.62 1312.49 631.48 189.62 497.45 1763.47 2740.30 1002.78 229.43 10401.57 7070.13 708.49 1115.45 443.91 1063.59 3698.21 6756.6 2636.17 135.56 148.95 296.06 1245.49 57820.64

0 92.92 32.83 375.53 7.34 0.10 38.35 560.33 3.56 95.65 34.97 1507.78 758.51 239.71 128.48 35.44 13.83 1.68 366.01 753.13 292.04 17.78 1747.96 248.66 382.99 678.49 114.94 322.88 2.35 2186.12 819.46 5.27 25.88 63.36 239.80 14189.27

1289.46 2234.14 120.44 3750.09 363.72 19.63 868.21 743.96 18.12 649.68 245.70 10033.37 1128.78 5585.33 1440.97 666.92 203.45 499.13 2129.48 3493.43 1294.82 247.21 12149.53 7318.79 1091.48 1793.94 558.85 1386.47 3700.56 8942.72 3455.63 140.83 174.83 359.42 1485.29 72009.91

64

Basel II Pillar 3 Disclosures

Dee@ejve leLee merue #es$e kee kegue $e+Ce Skemeheespej 7739.83 kejes[ hees nw peyeefke Tpee& #es$e kees en 7318.79 kejes[ hees nw pees efke yeQke kes kegue $e+Ce Skemeheespej kee eceMe 6.03% leLee 5.70% (DeLee&le 5% mes DeefOeke) nw.

Total credit exposure (O/s) to Iron & Steel Sector is Rs. 7739.83 Crore and that to Power sector is Rs. 7318.79 Crore which constitute 6.03% and 5.70% respectively (i.e., more than 5%) of the total domestic credit exposure of the Bank. f. Residual contractual maturity breakdown of assets
( Amount in Rs. Crore)

e.

DeefmleeeW keer DeJeefMe mebeefJeoelceke heefjhekeJelee kee efJeues<eCe

meceeeJeefOe

Time bucket

Deefece

Advances

efveJesMe Investments

efJeosMe cege Deeefmleeeb

Other Foreign Currency Assets

kegue eefleMele Deeefmleee %age

Total Assets (A+B+C) 4131.4 6706.70 4473.00 6158.77 1.92% 3.12% 2.08% 2.86%

Dom Rs Dom FC Overseas 1D 2-7 D 8-14 D 15-28 D 29-90 D 3-6m 6 - 12 m 1 - 3 yr 3 - 5 yr Over 5 yr TOTAL 1099.70 1126.06 2146.25 1984.02 14664.72 11167.43 11356.78 33080.17 9320.82 20228.94

Total (A)

Dom Overseas 222.81 320.73 143.48 558.51 0 105.66 7.44 5.21

Total (B) 222.81 426.39 150.92 563.72

Dom Overseas

Total (C )

1 efove 2-7 efove 8-14 efove 15-28 efove 29 efove-90efove 3 - 6 cenerves 6 cenerves- 1 Je<e& 1 Je<e& - 3 Je<e& 3 Je<e& - 5 Je<e& >5 Je<e&

1.00 1355.27 2455.96 81.07 43.16 304.16 1511.30 775.18 2964.59

23.55 1429.07 1452.62 832.91 3936.09 4769.00 395.62 961.87 1357.49

78.44 1278.44 3340.90

101.44 2152.71 2254.15

863.17 7047.26 22575.15 1692.86 935.21 5042.12 17144.76 1727.39 514.56 5617.20 17488.54 5041.76

99.43 1792.29 694.57 2421.96 201.55 5243.31

365.18 4479.49 4844.67 29212.11 13.57% 0 1270.39 1270.39 20837.11 0 516.61 9.68%

516.61 23248.46 10.80%

585.36 3531.26 37196.79 6668.57 1389.58 8058.15 3.77 6971.42 16296.00 5665.69 1039.74 6705.43 2.37 2780.59 23011.91 26559.97 300.93 26860.90

0 1317.54 1317.54 46572.48 21.64% 0 0 3.85 994.37 3.85 23005.28 10.69% 994.37 50867.18 23.64%

106174.88 3108.12 34702.90 143985.90 48601.78 3844.10 52445.88 1718.70 17061.99 18780.69 215212.47 100.00%

GHeeg&kele meejCeer ceW Heegkele efkeS ieS mebkeslee#ejeW kee efJemleej:

Expansion of Abbreviation used in above table:

[erDeesSce: Iejsuet Heefjeeueve,

[erDeesSce SHemeer : Iejsuet efJeosMeer cege,

efJeosMeer : Devlejje<^ere Heefjeeueve,

[er : efove, JeeF& Deej : Je<e&

Dom: Domestic Operations, Dom FC: Domestic Foreign Currency, Overseas: International Operations, D: Day, Yr: Year g. Disclosures in respect of Non Performing Advances and Investments:

iewj eqve<heeoke DeefeceeW SJeb efveJesMeeW kes yeejs ceW ekeerkejCe:

Asset Category

eceebke
Sr. No. (i)

Deeefmle esCeer
NPAs (Gross):

jeeqMe kejes[ hees ceW

Amount in Rs. Crores

SveheerS (mekeue)
Substandard 665.27 429.84 267.89 134.58 345.34

DeJeceeveke
Doubtful 1

mebefoiOe 1
Doubtful 2

mebefoiOe 2
Doubtful 3

mebefoiOe 3
Loss

neefve
(ii) Net NPAs

Meg SveheerS
Total 451.15

kegue
(iii) NPA Ratios

SveheerS Devegheele
Gross NPAs to gross advances 1.27%

mekeue DeefeceeW ceW mekeue SveheerS

65

yeemesue II efheuej 3 ekeerkejCe

Asset Category

eceebke
Sr. No.

Deeefmle esCeer
Net NPAs to net advances

jeeqMe kejes[ hees ceW

Amount in Rs. Crores 0.31%

efveJeue Deefece ceW efveJeue SveheerS

(iv) Movement of NPA(Gross)

SveheerS (mekeue) kee cetJeceW

Opening balance 1981.38 1001.89 1140.35 1842.92

eejbefYeke Mes<e
Additions

pees[
Reductions

IeeJe
Closing balance

Deefvlece Mes<e
(v) Movement of provisions for NPAs

SveheerS kes efueS eeJeOeeve kee cetJeceW

Opening balance 894.22 395.97 481.24 808.95

eejbefYeke Mes<e
Provisions made during the period

DeJeefOe kes oewjeve efkeee ieee eeJeOeeve

Write-off

yes Keeles
Closing balance

Deefvlece Mes<e
(vi) Non Performing Investments

iewj efve<heeoke efveJesMe

Amount of Non-Performing Investments 189.62 181.63

iewj efve<heeoke efveJesMe jeeqMe iewj efve<heeoke efveJesMe kes efueS jKes iees eeJeOeeve keer jeeqMe
(vii) Amount of provisions held for non-performing investment

Je<e& kes oewjeve efveJesMe hej cetueeme nsleg eeJeOeeveeW kee Movement of provisions for depreciation on investments during the year cetJeceW
Opening balance 439.08 610.93 132.68 917.33

eejbefYeke Mes<e
Provisions made during the period

DeJeefOe kes oewjeve efkeee ieee eeJeOeeve

Write-off

yes Keeles
Closing balance

Deefvlece Mes<e

V.

$e+Ce peesefKece : ceevekeerke=le efkeesCe kes lenle hees&Heesefueees nsleg ekeerkejCe

V. a.

Credit risk: disclosures for portfolios subject to the standardised approach Under Standardized Approach the Bank accepts rating of all RBI approved ECAI (External Credit Assessment Institution) namely CARE, CRISIL, Fitch (India), and ICRA for domestic credit exposures. For overseas credit exposures the Bank accepts rating of Standard & Poor, Moodys and Fitch. The Bank encourages Corporate and Public Sector Entity (PSE) borrowers to solicit credit ratings from ECAI and has used these ratings for calculating risk weighted assets wherever such ratings are available.

ke. ceevekeerrke=le efkeesCe kes lenle yeQke Yeejleere efjpeJe& yeQke eje Devegceesefole meYeer F&meerSDeeF& (yeee $e+Ce cetueekeve mebmLeeve) eLee meerSDeejF&, efeefmeue, efHedme, Deewj DeeFmeerDeejS keer Iejsuet $e+Ce Skemeheespej nsleg jsefbie kees mJeerkeej kejlee nw. efJeosMeer $e+Ce Skemeheespej kes efueS yeQke msC[[& SJeb hetDej, cet[er, leLee efHedme keer jsefbie mJeerkeej kejlee nw. yeQke ye[s keeheexjs GOeejkelee&DeeW kes F&meerSDeeF& mes jsefbie uesves kees eeslmeeefnle kejlee nw Deewj Gmeves peneB kener Ssmeer jsefbie GheueyOe nw. JeneB peesefKece hej DeeefmleeeW keer ieCevee kejves kes efueS Fve jsefbieeW kee Gheeesie efkeee nw.

66

Basel II Pillar 3 Disclosures

jeefMe kejes[ hees ceW Amount in Rs. Cr. peesefKece Yeej keer esCeer 100% peesefKece Yeej mes kece
100 % risk weight 45737.50 16103.09 9094.70 167200.39 Category of Risk Weight Below 100 % risk weight Outstanding Exposure 96265.10

100% peesefKece Yeej

More than 100 % risk weight

100% peesefKece Yeej mes DeefOeke

Total CRM Deducted

kegue meerDeejSce keewleer

Total Exposure

kegue SkemeHeespej efvevceefueefKele ecegKe peesefKece mecetneW ceW ceevekeerke=le efkeesCe (cetueebefkele Deewj iewj cetueebefkele) kes Devegmeej peesefKece kece kejves kes heeele, peesefKece jeefMeeeB Fme ekeej nw.
VI.

The exposure amounts after risk mitigation subject to Standardised Approach (rated and unrated) in the following three major risk buckets are as under: VI. Credit risk mitigation: Bank obtains various types of securities (which may also be termed as collaterals) to secure the exposures (Fund based as well as Non-Fund based) on its borrowers. Generally following types of securities (whether as primary securities or collateral securities) are taken: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Moveable assets like stocks, moveable machinery etc. Immoveable assets like land, building, plant & machinery. Shares as per approved list Banks own deposits NSCs, KVPs, LIC policies, Securities issued by Central & State Governments etc. Debt securities - rated by approved credit rating agency- with certain conditions Debt securities- not rated- issued by a bank- with certain conditions Units of Mutual funds Cash Margin against Non-fund based facilities Gold and Gold Jewelry.

Deefece peesefKece vetveerkejCe

a.

ke. yeQke Deheves GOeejkelee&DeeW hej Skemeheespej (efveefOe DeeOeeefjle leLee iewj efveefOe DeeOeeefjle) kees mebjef#ele kejves kes efueS efJeefYeVe ekeej keer eefleYeteleeeB (pees efke f keer eefleYeteleeeB (cegKe eefleYeteleeeB DeLeJee mebHeeefe&ke eefleYeteleeeB) ueer peeleer f f f nw. 1. me@ke, eue ceMeervejer Fleeefo pewmeer eue DeeefmleeeB. 2. Yetefce, efyeefu[bie, hueeb leLee ceMeervejer pewmeer Deeue DeefmleeeB. 3. Devegceesefole meteer kes Devegmeej Mesej 4. yeQke keer mJeeefOeke=le peceejeefMeeeB. 5. je^ee yeele eceeCehe$e, efkemeeve efJekeeme he$e, SueDeeFmeer hee@eueefmeeeB, r f kesvere/jepe mejkeejeW Deeefo eje peejer keer ieF& HeeleYeteleeeB Fleeefo f f 6. $e+Ce HeefleYetefleeeb - keefleHee Meleexb kes meeLe Devegceesefole kesef[ jsefbie Spesvmeer eje jsefbie eeHle 7. $e+Ce HeefleYetefleeeb keefleHee Melees kes meeLe yeQke eje peejer keer ieF&iewj-jsefbie eeHle 8. cetegDeue Heb[es keer etefveW 9. iewj efveefOe DeeOeeefjle megefJeOeeDeeW kes hess vekeoer ceeefpe&ve. 10. mJeCe& SJeb mJeCe& DeeYet<eCe
yeQke ves, yeQke kees eYeeefjle eefleYetefleeeW kes cetueebkeve kes mebyebOe ceW yesnlej veerefle leweej keer nw. yeQke ves Thej ece mebKee 4 mes 10 hej GefuueefKele eefleYetefleeeW kees $e+Ce peesefKece nsleg ceevekeerke=le ef<keesCe yeemeue-II kes Devleie&le $e+Ce

The bank has well-laid out policy on valuation of securities charged to the bank. The securities mentioned at Sr. No. 4 to 10 above are recognized as Credit Risk Mitigants under Basel-II standardised approach for credit risk. The main types of guarantors against the credit risk of the bank are: Individuals (Personal guarantees)

Jeweefkeleke (Jeefeiele ieejbefee) keeheexjsdme kesvere mejkeej F&meerpeermeer meerpeererSmeDeeF& meerDeejSce mebheeefe&ke ecegKele: yeQke keer mJeeb keer pecee-jeefMeeeW kes hess $e+CeeW ceW Deewj mejkeejer eefleYetefleeeW, SueDeeF&meer hee@efueefmeeeW kes hess $e+CeeW ceW GheueyOe neWies. meerDeejSce eefleYeteleeeb, iewj efveefOe DeeOeeefjle megeJeOeeDeeW pewmes ieejbeeeW Deewj f f f

Corporates Central Government State Government ECGC CGTSI CRM collaterals are mostly available in Loans Against Banks Own Deposit and Loans against Government Securities, LIC Policies. CRM securities are also taken in non fund based facilities like Guarantees and Letters of Credit.

67

yeemesue II efheuej 3 ekeerkejCe

$e+Ce-he$eeW ceW Yeer ueer peeleer nw. (yeemesue ~~ kes Devegmeej) ceW kesvere/jepe mejkeej, F&meerpeermeer, meerpeererSmeDeeF&, keb^er Hee& keer DeHes#ee kece peeseKece Yeej Jeeues yeQke Je HeeLeefceke [eruej leLee Deve f mebmLeeS (cegKele: Hesj, Deveg<ebieer leLee mebyebOe kebHeefveeeb) efpevnW SS (-) ee yesnlej W jseie oer ieF& nw, Meeefceue nQ. f b efoveebke 31.3.2009 kees yekeeee SkemeheespejeW mes keewleer nsleg hee$e kegue $e+Ce peesefKece vetveleeSb (efceefpeWdme) jeefMe . 9094.70 kejes[ nw.
VII.

Eligible guarantors (as per Basel-II) available as CRM in respect of Banks exposures are mainly Central/ State Government, ECGC, CGTSI, Banks & Primary Dealers with a lower risk weight than the counter party AND other entities (mainly parent, subsidiary and affiliate companies) rated AA(-) or better. The total amount of Credit Risk Mitigants eligible for deduction from the outstanding exposures as on 31.03.2009 is Rs 9094.70 Crore. VII. Securitisation: The Bank has a Securitization Policy duly approved by its Board. As per the Policy the nature of portfolio to be securitized are retail loans (housing loans, auto loans, advance against properties, personal loans and credit cards) SSI and Infrastructure projects loans. The Bank does not have any case of its assets securitised as on 31st March, 2009. VIII. Market risk in trading book The Bank defines market risk as potential loss that the Bank may incur due to adverse developments in market prices. The following risks are identified as Market risk: Interest Rate Risk Currency Risk Price risk To manage risk, Banks Board of Directors have laid down various limits such as Aggregate Settlement limits, Stop loss limits and Value at Risk limits. The risk limits, control the risks arising from open market positions. The stop loss limit takes in to account realized and unrealized losses. Bank has put in place a proper system for calculating capital charge on Market Risk on Trading Portfolio as per RBI Guidelines, viz., Standardised Duration Approach. The capital charge thus calculated is converted into Risk Weighted Assets. The aggregated Risk Weighted Assets for credit risk, market risk and operational risk are taken in to consideration for arriving at the Banks CRAR. Risk Weighted Assets and Capital Charge on Market Risk (as per Standardised Duration Approach) as on 31st March 2009 is as under:
( . kejes[es ceW Rs. in Crores)

eefleYeteflekejCe :
yeQke keer Ske eefleYetefle veerefle nw efpemes yees[& eje Devegceesefole efkeee ieee nw. veerefle kes Devegmeej eefleYetle efkees peeves Jeeues mebefJeYeeie keer eke=efle nw efjsue $e+Ce (DeeJeeme $e+Ce, Dee@es $e+Ce, heefjmebheefeeeW kes hess Deefece, Jeweefeke $e+Ce leLee esef[ kee[&dme) SmeSmeDeeF& SJeb DeeOeejYetle heefjeespevee $e+Ce. efoveebke 31 ceee&, 2009 leke yeQke kes heeme Deheveer DeeefmleeeW kees eefleYetle kejves kee keesF& ceeceuee veneR nw.

VIII.

Jeeheej yener ceW yeepeej peesefKece

yeQke, yeepeej peesefKece kees Ssmeer mebYeeJe neefve ceW Jeieeake=le kejlee nw pees yeepeej cetueeW ceW eefleketue heefjefmLeefleeeW kes keejCe nes mekeleer nw. yeepe oj peesefKece kejWmeer peesefKece cetue peesefKece peesefKece eyebOeve kes efueS yeQke kes efveosMeke ceb[ue ves efJeefYeVe meerceeSb efveOee&efjle keer nQ pewmes mekeue efveheeve meerceeSb, #eefle jesOe meerceeSb, Deewj peesefKece meerceeDeeW hej cetue Deeefo. peesefKece meerceeSb, Kegueer yeepeejiele efmLeefleeeW mes GlheVe peesefKeceeW kees efveebef$ele kejleer nQ.#eefle jesOe neefve meercee, Jemetueerke=le Deewj DeJemetueerke=le neefveeeW yeQke ves Yeejleere efjpeJe& yeQke kes efoMee-efveoxMeeW kes Devegmeej JeJemeee mebefJeYeeie hej yeepeej peesefKece mes mebyebefOele hetbpeer eYeej keerr ieCevee kejves kes efueS Ske mecegefele heefle leweej keer nw DeLee&le ceevekeerke=le DeJeefOe efkeesCe. Fme efkeee ieee nw. $e+Ce peesefKece kes efueS mekeue peesefKece Yeeefjle DeeefmleeeW, yeepeej peesefKece Deewj heefjeeueve peesefKece kees meerDeejSDeej kee efveOee&jCe kejves kes efueS efnmeeye ceW efueee peelee nw. efoveebke 31 ceee& 2009 kees yeepeej peesefKece (ceevekeerke=le DeJeefOe efkeesCe kes Devegmeej) mebyebOeer hetbpeer eYeej leLee peesefKece Jeeueer Deeefmleeeb efvecveevegmeej nQ.

Deej[yuegS
RWAs Interest Rate Risk 5999.23 2758.56 193.56 8951.35 Operational risk

Hetbpeer eYeej
Capital Charge 539.93 248.27 17.42 805.62

Jeepe oj peesefKece
Equity Position Risk

FefkeJeer efmLeefle peesefKece

Foreign Exchange Risk

efJeosMeer cege peesefKece

Total Capital Charge

kegue hetbpeer eYeej

IX.

IX.

heefjeeueve peesefKece
Yeejleere efjpeJe& yeQke kes efoMee-efveoxMeeW kes Devegmeej yeQke ves heefjeeueve peesefKece nsleg hetbpeer DeeJeMekeleeDeeW keer mebieCevee kejves keer ef mes DeeOeejYetle meteke efkeesCe Deheveeee nw.
In line with RBI guidelines, Bank has adopted the Basic Indicator Approach to compute the capital requirements for Operational Risk.

68

Basel II Pillar 3 Disclosures

X.

yeQefkebie yeefneeW ceW yeepe oj peesefKece (DeeF&DeejDeejyeeryeer)

yeepe oj peesefKece kees oes efkeesCeeW kes ceeOece mes efveOee&efjle Je ceeveerj efkeee peelee nw.
(i)

X. a.

Interest rate risk in the banking book (IRRBB) The interest rate risk is measured and monitored through two approaches: (i) Earning at Risk (Traditional Gap Analysis) (Short Term): The immediate impact of the changes in the interest rates on net interest income of the bank is analysed under this approach. The Earning at Risk is analysed under different scenarios: 1. 2. Yield curve risk: A parallel shift of 1% is assumed for assets as well as liabilities. Bucket wise different yield changes are assumed for the assets and the same are applied to the liabilities as well. Basis risk and embedded option risk is assumed as per historical trend.

ke

peesefKece hej Deee (heejbheefjke Devlej efJeMuess<eCe) (DeuheeJeefOe) yeQke keer Meg yeepe Deee hej yeepe ojeW ceW heefjJele&veeW kees Fme efkeesCe kes lenle eqJeMuesef<ele efkeee ieee nw. peesefKece hej Deee kees efJeefYeVe heefjMeeW ces efvecveevegmeej efJeMuesef<ele efkeee ieee nw. 1. Deee jsKee peesefKece : DeeefmleeeW Deewj oseleeDeeW kes efueS 1% meceeveeblej heefjJele&ve kee Devegceeve ueieeee ieee nw. DeeefmleeeW kes efueS esCeer-Jeej efYeVe Deee heefjJele&veeW kee Devegceeve ueieeee ieee nw Deewj es oseleeDeeW hej Yeer ueeiet nesles nQ. Ssefleneefmeke eJe=efle kes Devegmeej DeeOeej peesefKece SJeb meceeefnle efJekeuhe peesefKece kee Devegceeve ueieeee ieee nw.
(ii)

2.

3.
(ii)

3.

FefkeJeer kee DeeefLe&ke cetue (DeJeefOe Devlej efJeues<eCe) (oerIee&JeefOe) en keee& DeeefmleeeW SJeb oseleeDeeW keer mebMeesefOele DeJeefOe keer ieCevee kejkes efkeee peelee nw leeefke FefkeJeer keer mebMeesefOele DeJeefOe kee efveOee&jCe efkeee pee mekes. en ef<keesCe Deee ceW efoS HeefjJele&ve nsleg Deee jsKee ceW meceevlej efMeHe ceevee peelee nw. F&efkeJeer kes DeeefLe&ke cetue Hej HeYeeJe kees pewmee Yeejleere efjpeJe& yeQke ves efJeMuesef<ele efkeee nw, efveeefcele DeblejeueeW Hej 200 DeeOeej Debkeere oj nsleg efJeMuesef<ele efkeee peelee nw. mebyebefOele HeefjHekeJelee kes efueS yeepeej mebyeOe Deee kees mebMeesefOele DeJeefOe keer ieCevee ceW Heegkele efkeee peelee nw. yeQefkeie yeefneeW ceW yewke kes yeepe oj peesefKece kee efJeMues<eCe oesveeW Iejsuet leLee efJeosMeer Heefjeeuevees kes efueS efkeee peelee nw. Iejsuet HeefjeeueveeW kes efueS FefkeJeer kes DeeefLe&ke cetue keer ceeHe leLee efveiejeveer efleceener DeeOeej Hej keer peeleer nw.
b.

Economic Value of Equity (Duration Gap Analysis) (Long term) It is done by calculating modified duration of assets and the liabilities to finally arrive at the modified duration of equity. yield curve for a given change in the yield. also analysed for a 200 bps rate shock as indicated by RBI. are used in the calculation of the modified duration. The analysis of banks Interest Rate Risk in Banking Book (IRRBB) is done for both the domestic and the overseas operations. The Economic value of equity for domestic operations is measured and monitored on a quarterly basis.

Ke

yeepe-ojeW ceW 100 DeeOeej Debkeere cetJeceW kes hess yeQke keer Meg yeepe Deee hej Meg eYeeJe Iejsuet heefjeeuekeeW kes efueS . 128.38 kejes[ nw leLee 34.57 kejes[ Devlejje<^ere HeefjeeueveeW kes efueS nw.

The net impact on Net Interest Income (NII) of the bank against 100 bps movement in interest rates is Rs. 128.38 Crore in the Domestic Operations (Rupee resources and deployment) and Rs. 34.57 Crore in International Operations.

69

cenlJehetCe& efJeeere meteke

cenlJehetCe& efJeeere meteke - ueeYeeolee DevegHeele

Key Financial Indicators - Profitability Ratios
e.meb.
S.No. 1

efJeJejCe
Particulars

31.03.2005 6.85%

31.03.2006 6.59%

31.03.2007 7.22%

31.03.2008 7.63%

31.03.2009 7.78%

yeepe Deee / Deewmele keee&Meerue efveefOeeeb (S[yuetSHe)

Interest Income / Average Working Funds (AWF)

yeepe Jee / S[yuetSHe

Interest expenses / AWF

3.68% 3.39% 3.17% 1.40% 2.11% 46.24% 2.45% 0.72% 12.55% 0.71% 0.75% 7.18% 4.23% 24.67%

3.65% 3.20% 2.93% 1.12% 2.25% 55.43% 1.81% 0.78% 10.85% 0.73% 0.79% 7.43% 4.15% 25.11%

4.35%

5.10%

5.14%

Meg yeepe ceeefpe&ve

Net Interest Margin (NIM)

3.05%

2.90%

2.91%

yeepe efJemleej / S[yuetSHe

Interest spread / AWF

2.87%

2.53%

2.64%

iewj-yeepe Deee / S[yuetSHe

Non-Interest Income / AWF

1.11%

1.32%

1.42%

heefjeeueve Jee / S[yuetSHe

Operating expenses / AWF

2.04%

1.96%

1.84%

ueeiele-Deee Devegheele
Cost Income Ratio

51.30%

50.89%

45.38%

mekeue (heefjeeueve) ueeYe / S[yuetSHe

Gross (Operating) profit / AWF

1.94%

1.89%

2.22%

Meg ueeYe / S[yuetSHe

Net profit / AWF

0.82%

0.93%

1.15%

10

Meg ceeefueele Hej HeefleueeYe

Return on Net Worth

12.17%

15.07%

19.56%

11

DeeefmleeeW Hej HeefleueeYe

Return on Assets

0.72%

0.80%

0.98%

12

Deewmele DeeefmleeeW hej eefleueeYe

Return on Average Assets

0.80%

0.89%

1.09%

13

DeefeceeW hej eefleHeue

Yield on Advances

8.37%

9.53%

9.50%

14

peceejeefMeeeW keer ueeiele

Cost of Deposits

4.77%

5.69%

5.71%

15

ueeYeebMe Yegieleeve Devegheele (keejheesjs ueeYeebMe kej meefnle)

Dividend payout Ratio (including Corporate Dividend Tax)

24.59%

23.75%

17.22%

16

$e+Ce pecee Devegheele

Credit -- Deposit Ratio

55.82% 63.96%

67.15% 74.94%

74.35%

77.32%

82.36%

17

$e+Ce + iewj SmeSueDeej efveJesMe (Deveg<ebieer FkeeFeeW ceW efveJesMe kees es[kej) pecee Devegheele
Credit + Non SLR Investment (excluding Investments in Subsidiaries) -- Deposit Ratio

80.21%

82.78%

87.86%

18

hetbpeer heee&hlelee Devegheele

Capital Adequacy Ratio

12.61% 8.21% 4.40%

13.65% 10.98% 2.67%

11.80%

12.91%

12.88%

erej Tier - I erej Tier - II

8.74%

7.63%

7.79%

3.06%

5.28%

5.09%

70

Key Financial Indicators

cenlJehetCe& efJeeere meteke - kegMeuelee DevegHeele

Key Financial Indicators - Efficiency Ratios
e.meb.
S.No. 1

efJeJejCe
Particulars

31.03.2005 39529

31.03.2006 38774 2743 3.96 3.51

31.03.2007 38086

31.03.2008 36774

31.03.2009 36838

kece&eejer (mebKee)
Employees (number) 2

2738

2772

2899

2974

MeeKeeSb (mebKee)
Branches (number) 3

3.16

5.48

7.04

9.13

Heefle kece&eejer JeJemeee (.kejes[ ceW)

Business per employee (Rs. in crore) 4

2.97

4.64

5.94

7.57

Heefle kece&eejer Deewmele JeJemeee (.kejes[ ceW)

Average Business per employee (Rs in crore) 5

5.82

4.95 2.13 55.99 0.70 0.30 27.10 209.18

6.34

7.96

11.69

Heefle kece&eejer mekeue ueeYe (.ueeKeeW ceW)

Gross Profit per employee (Rs. in lakhs) 6

1.71

2.70 75.23

3.90 89.25

6.05 113.11

Heefle kece&eejer efveJeue ueeYe (. ueeKeeW ceW)

Net Profit per employee (Rs. in lakhs) 7

45.56

Heefle MeeKee JeJemeee (.kejes[eW ceW)

Business per branch (Rs. in crore) 8

0.84

0.87

1.01

1.45

Heefle MeeKee mekeue ueeYe (.kejes[ ceW)

Gross Profit per branch (Rs. in crore) 9

0.25

0.37

0.50

0.75

Heefle MeeKee Meg ueeYe (.kejes[ ceW)

Net Profit per branch (Rs. in crore) 10

23.08

28.18

39.40

61.14

Heefle Mesej Deee (HeeeW ceW)

Earnings per share (Rupees) 11

183.83

231.59

261.54

312.61

Heefle Mesej yenercetue (HeeeW ceW)

Book Value per share (Rupees)

eesle : efJeefJeOe Je<eeX keer Jeeef<e&ke efjHeesx (peneb mecegefele ngDee, efHeues Je<eeX kes Deeke[eW kees Hegveme&cetnerke=le/Hegve: Jeieeake=le efkeee ieee nw)
Source: Annual Reports of various years. (previous years figures are regrouped and reclassified, where appropriate)

71

MeyoeJeueer

MeyoeJeueer / Glossary
Deewmele keee&Meerue efveefOeeeb (S[yuetSHe) Deewmele peceejeefMeeeb Deewmele Deefiece Deewmele JeJemeee : kegue DeeefmleeeW kee Heeef#eke Deewmele;

:
Average Working Funds (AWF) Average Deposits Average Advances Average Business Average Investments Interest Income/AWF Interest expenses/ AWF Interest Spread/AWF : : : : : : : : Fortnightly Average of Total Assets Fortnightly Average of Total Deposits Fortnightly Average of Total Advances Total of Average Deposits Plus Average Advances Fortnightly Average of Total Investments Total Interest Income Divided by AWF Total Interest Expenses Divided by AWF (Total Interest Income minus Total Interest Expenses) Divided by AWF Total Non-Interest Income Divided by AWF Total Expenses minus Interest Expenses Operating Expenses Divided by AWF Operating Expenses Divided by (Non Interest Income plus Interest Spread) Operating Profit divided by AWF Net Profit Divided by AWF Net Profit Divided by Net Worth (excluding Revaluation Reserves) Net Profit Divided by Total Assets Net Profit Divided by AWF Interest Earned on Advances Divided by Average Advances Interest paid on Deposits Divided by Average Deposits Dividend including Corporate Dividend Tax Divided by Net Profit

: : :

kegue peceejeefMeeeW kee Heeef#eke Deewmele; kegue DeefieceeW kee Heeef#eke Deewmele; Deewmele peceejeefMeeeW Deewj Deewmele DeefieceeW kee eesie; kegue efveJesMe kee Heeef#eke Deewmele; kegue yeepe Deee kee Deewmele keee&Meerue efveefOeeeW mes efJeYeepeve; kegue yeepe Jee Yeeie oW S[yuetSHe;

Deewmele efveJesMe yeepe Deee/(S[yuetSHe)

: :

yeepe Jee/S[yuetSHe

yeepe efJemleej/S[yuetSHe

(kegue yeepe Deee IeeSb : kegue yeepe Jee) S[yetSHe mes efJeYeeefpele kejW; kegue iewj yeepe Deee efJeYeeefpele kejW Deewmele keee& efveefOe mes; kegue Kee& Iee yeepe Kee& kegue Heefjeeueve Jee efJeYeeefpele kejW Deewmele keee&Meerue efveefOe mes; Heefjeeueve Jee efJeYeeefpele kejW (iewjyeepe Deee + yeepe mHes[) mes; Heefjeeueve ueeYe efJeYeeefpele kejW S[yuetSHe mes; Meg ueeYe efJeYeeefpele kejW S[yuetSHe; Meg ueeYe efJeYeeefpele kejW Meg ceeefueele (Hegvecet&ueebkeve Heejef#ele jeefMe kees es[kej); Meg ueeYe efJeYeeefpele kejW kegue DeeefmleeeW mes; Meg ueeYe Yeeie oW S[yuetSHe;

iewjyeepe Deee/S[yuetSHe :

Non-Interest Income/ AWF Operating Expenses Operating Expenses/ AWF Cost Income Ratio

: : : :

Heefjeeueve Jee Heefjeeueve Jee/ S[yuetSHe ueeiele Deee DevegHeele

: :

mekeue (Heefjeeueve) ueeYe/S[yuetSHe Meg ueeYe/S[yuetSHe Meg ceeefueele Hej HeefleueeYe DeeefmleeeW Hej HeefleueeYe

Gross (Operating) Profit/AWF Net Profit/AWF Return on Net Worth

: : :

: :

Return on Assets Return on Average Assets Yield on Advances Cost of Deposits Dividend Payout Ratio (including Corporate Dividend Tax)

: : : : :

Deewmele DeeefmleeeW Hej HeefleueeYe DeefieceeW Hej eefleHeue

DeefieceeW Hej Deefpe&le yeepe Yeeie oW Deewmele Deefiece; peceejeefMeeeW Hej Heolle yeepe Yeeie oW Deewmele peceejeefMeeeb; ueeYeebMe keejHeesjs ueeYeebMe kej meefnle; Yeeie oW Meg ueeYe mes;

peceejeefMeeeW keer ueeiele

ueeYeebMe Yegieleeve DevegHeele (keejHeesjs ueeYeebMe kej meefnle)

72

Glossary

$e+Ce pecee DevegHeele $e+Ce + iewj meebefJeefOeke lejuelee DevegHeele efveJesMe (Deveg<ebieer FkeeFeeW ceW efveJesMe kees es[kej) peceejeefMe - DevegHeele;

kegue Deefiece Yeeie oW ieenkeeW keer peceejeefMeeeb (kegue peceejeefMeeeb - IeeeW Deblej yeQke pecee jeefMeeeb) (kegue Deefiece + vee@ve Sme Sue Deej efveJesMe - IeeeW Deveg<ebieer FkeeFeeW ceW efveJesMe) Yeeie oW ieenkeeW keer peceeeW mes;

Credit - Deposit Ratio Credit + Non SLR Investments (excluding Investments in Subsidiaries) Deposit Ratio Business Per Employee Average Business Per Employee Gross Profit Per Employee Net Profit Per Employee Business Per Branch

Total Advances Divided by Customer Deposits (i.e., Total Deposits minus Inter Bank Deposits) (Total Advances Plus Non-SLR Investments minus Investments in Subsidiaries) Divided by Customer Deposits Total Deposits plus Total Advances Divided by Total No. of Employees Average Deposits plus Average Advances divided by Total No. of Employees Gross Profit Divided by Total No. of Employees Net Profit Divided by total No. of Employees Total Deposits plus Total Advances divided by No. of Branches Gross Profit Divided by No. of Branches Net Profit Divided by No. of Branches Net Profit divided by Equity Multiplied by Ten Net Worth (excluding Revaluation Reserves) divided by Equity Multiplied by Ten.

Heefle kece&eejer JeJemeee

kegue peceejeefMeeeb + kegue Deefiece Yeeie oW, kegue kece&eeefjeeW keer mebKee mes Deewmele peceejeefMeeeb Deewmele Deefece/Yeeie oW kegue kece&eejer mebKee mes mekeue ueeYe kees Yeeie oW, kegue kece&eejer mebKee mes; Meg ueeYe kees Yeeie oW, kece&eeefjeeW keer mebKee mes; kegue peceejeefMeeeb + kegue Deefiece kees Yeeie oW, MeeKeeDeeW keer mebKee mes; mekeue ueeYe kees Yeeie oW, MeeKeeDeeW keer mebKee mes; Meg ueeYe Yeeie oW MeeKeeDeeW keer mebKee mes; Meg ueeYe kees Yeeie oW, FefkeJeer mes X ome; Meg ceeefueele (Hegvecet&ueebkeve Heejef#ele jeefMe kees es[kej) kees Yeeie oW, FefkeJeer mes X ome.

eefle kece&eejer Deewmele JeJemeee

: : :

eefle kece&eejer mekeue ueeYe :

Heefle kece&eejer Meg ueeYe

Heefle MeeKee keejesyeej

Heefle MeeKee mekeue ueeYe

Gross Profit per Branch Net Profit per Branch Earnings Per Share Book Value Per Share

: : : :

Heefle MeeKee Meg ueeYe Heefle Mesej Deee Heefle Mesej yener cetue

: : :

73

legueve-he$e / BALANCE SHEET

31 ceee&, 2009 kee legueve-he$e

Balance Sheet as on 31st March 2009
(Rs. In 000s)

Devegmeteer
SCHEDULE

31 ceee& 2009 kees 31 ceee& 2008 kees

As on As on 31st Mar, 2009 31st Mar, 2008 . Rs. . Rs.

CAPITAL & LIABILITIES

Hetbpeer Deewj oseleeSb

Capital 1 2 3 4 5 365,52,77 124700135 1923969517 5636,08,59 16538,14,66 227406,72,54 365,52,77 10678,39,91 152034,12,72 3927,04,80 12594,41,42 179599,51,62

Hetbpeer
Reserves and Surplus

Heejef#ele efveefOeeeb Deewj DeefOeMes<e

Deposits

peceejeefMeeeb
Borrowings

GOeej ueer ieF& jeefMeeeb

Other Liabilities and Provisions

Deve oseleeSb SJeb HeeJeOeeve

TOTAL

pees[
ASSETS

Deeefmleeeb
Yeejleere efj]peJe& yeQke kes Heeme vekeoer Deewj Mes<e jkece yeQkeesb kes Heeme Mes<e jkece leLee ceebie SJeb DeuHe metevee Hej Heefleose jeefMe efveJesMe
Advances 9 10 11 143985,89,61 2309,71,93 4578,11,72 227406,72,54 12 73386,09,83 13963,99,04 17 18 106701,32,41 2427,00,81 4301,82,95 179599,51,62 82362,32,83 8315,01,73 Cash and Balances with Reserve Bank of India Balances with Banks and Money at Call and Short Notice Investments 6 7 8 10596,34,35 13490,77,35 52445,87,58 9369,72,34 12929,56,33 43870,06,78

Deefiece
Fixed Assets

Deeue Deeefmleeeb
Other Assets

Deve Deeefmleeeb
TOTAL

pees[
Contingent Liabilities

Deekeefmceke oseleeSb
Bills for Collection

Jemet}er kes efueS efyeue

Significant Accounting Policies

GuuesKeveere uesKee veerefleeeb

Notes on Accounts

uesKeeW Hej efHHeefCeeeb THej oMee&eer ieeer Devegmetefeeeb legueve-He$e kee Ske DeefYevve Yeeie nQ.
The Schedules referred to above form an integral part of the Balance Sheet.

efveosMeke eer Sce.[er.ceuee

DeOe#e SJeb HeyebOe efveosMeke

uesKee Hejer#eke mece leejerKe keer nceejer mebueive he=Leke efjhees& kes Devegmeej ke=les yeer.meer.pewve SC[ keb. meveoer uesKeekeej (yeer.meer. pewve) Yeeieeroej
M No. 005690

eer Jeer.mevleevejeceve
keee&keejer efveosMeke

eer Deej. kes. ye#eer

keee&keejer efveosMeke

eer Sve.Deej.yeerveejeeCeve
ceneHeyebOeke (keeHeex.Keeles, kejeOeeve SJeb DevegHeeueve DeefOekeejer-Yee.efj.yeQ)

eer S. meescemegvojce eer efceefuevo Sve. vee[keCeea eer jCepeerle kegceej epeea eer Decejpeerle eeshe[e [e@. oerHeke yeer. Heeke eer ceewefueve S. Jew<CeJe

ke=les S. meeosJe SC[ keb. meveoer uesKeekeej (ceveer<e DeieJeeue) Yeeieeroej

M No. 078628

ke=les ieghlee veeej SC[ keb. meveoer uesKeekeej (jepeerJe kegceej veeej) Yeeieeroej
M No. 085468

eer Jeer.kes.iegHlee
GHe ceneHeyebOeke (keeHeex.Keeles SJeb kejeOeeve)

ke=les Sme kes keHetj SC[ keb. meveoer uesKeekeej (mebpeerJe keHetj) Yeeieeroej
M No. 070487

ke=les DeefMJeveer SC[ SmeesefmeS meveoer uesKeekeej (DeefMJeveer kegceej) Yeeieeroej

M No. 80711

ke=les Sve meer yevepeea SC[ keb. meveoer uesKeekeej (yeer. kes. efyemJeeme) Yeeieeroej
M No. 055623

mLeeve : cegbyeF&, efoveebke : 27.04.2009

74

ueeYe Je neefve uesKee / PROFIT & LOSS ACCOUNT

31 ceee&, 2009 kees meceehle Je<e& kee ueeYe Je neefve uesKee

Profit & Loss Account for the year ended 31st March 2009
(000s Devebefkele omitted)

Devegmeteer

31 ceee& 2009 kees 31 ceee& 2008 kees

SCHEDYear ended Year ended ULE 31st Mar 2009 31st Mar 2008 . Rs. . Rs.
I.

I. INCOME Interest Earned Other Income TOTAL II. EXPENDITURE Interest Expended Operating Expenses Provisions and Contingencies TOTAL III. PROFIT Net Profit for the Year Available for Appropriation Appropriations Transfer to : a) Statutory Reserve b) Capital Reserve c) Revenue and Other Reserves I) General Reserve II) Special Reserve u/s 36 (1) (viii) III)Statutory Reserve (Foreign) d) Proposed Dividend (including Dividend Tax) TOTAL 13 14 15091,57,74 2757,65,80 17849,23,54 9968,16,76 3576,06,17 2077,80,43 15622,03,36 2227,20,18 2227,20,18 11813,47,67 2051,03,61 13864,51,28 7901,67,06 3034,29,21 1493,02,86 12428,99,13 1435,52,15 1435,52,15

Deee Deefpe&le yeepe Deve Deee pees[ II. Jee Kee& efkeee ieee yeepe Heefjeeueve Jee HeeJeOeeve Deewj Deekeefmceke Jee pees[ III. ueeYe Je<e& kee Meg }eYe efJeefveeespeve nsleg GHeueyOe jeefMe efJeefveeespeve efvecveef}efKele ceW DevlejCe : ke) meebefJeefOeke Heejef#ele efveefOe Ke) Hetbpeeriele Heejef#ele efveefOe ie) jepemJe SJeb Deve Heejef#ele efveefOeeeb I) meeceeve Heejef#ele efveefOe efJeMes<e Heejef#ele efveefOe Oeeje 36 (1) II) (viii) kes Debleie&le III) meebefJeefOeke Heejef#ele efveefOe (efJeosMeer) Ie) emleeefJele ueeYeebMe (ueeYeebMe kej meefnle) Devleefjce ueeYeebMe pees[ Heefle Mesej cetue SJeb vetve Depe&ve GuuesKeveere uesKee veerefleeeb uesKeeW Hej efHHeefCeeebb

15 16

556,80,05 358,25,58 707,41,44 220,00,00 1,17,48 383,55,63 2227,20,18 61.14

358,88,04 84,64,85 650,35,08 70,30 340,93,88 1435,52,15 39.41

Basic & Diluted Earnings per Share Significant Accounting Policies 17 Notes on Accounts 18 The Schedules referred to above form an integral part of the Profit & Loss Account.

THej oMee&eer ieeer Devegmetefeeeb }eYe Je neefve uesKes kee ner Ske Yeeie nw.
M D Mallya Chairman & Managing Director V Santhanaraman Executive Director R K Bakshi Executive Director N R Badrinarayanan General Manager (Corporate A/cs. Taxation & Compliance Officer - RBI) V K Gupta Dy. General Manager (Corp. Accounts & Taxation) Place: Mumbai Date: 27.04.2009 DIRECTORS Shri. A somasundaram Shri Milind N Nadkarni Shri Ranjit Kumar Chatterjee Shri Amarjit Chopra Dr. Deepak B Phatak Shri Maulin A Vaishnav AUDITORS As per our separate report of even date attached For Gupta Nayar & Co. For B C Jain & Co. For A. Sachdev & Co Chartered Accountants Chartered Accountants Chartered Accountants (B. C. Jain) (Manish Agarwal) (Rajiv Kumar Nayar ) Partner Partner Partner M No. 005690 M No. 078628 M No. 085468 For Ashwani & Associates For N C Banerjee & Co For S. K. Kapoor & Co. Chartered Accountants Chartered Accountants Chartered Accountants (Sanjiv Kapoor ) (Ashwani Kumar) (B. K. Biswas) Partner Partner Partner M No. 070487 M No. 80711 M No. 055623

75

legueve-he$e keer Devegmetefeeeb

legueve-he$e keer Devegmetefeeeb Schedules to Balance Sheet

(000s

Devebefkele omitted) 31 ceee&, 2008 kees

31 ceee&, 2009 kees

As on 31st Mar, 2009

As on 31st Mar, 2008

. Rs.
SCHEDULE - 1 CAPITAL

. Rs.

. Rs.

. Rs.

Devegmeteer -1 Hetbpeer HeeefOeke=le Hetbpeer Heefle . 10/- kes 150,00,00,000 FefkeJeer Mesej peejer keer ieeer leLee DeefYeoe Hetbpeer Heefle . 10/- kes 36,70,00,000 FefkeJeer Mesej (efheues Je<e& 10 kes 36,70,00,000 FefkeJeer Mesej) Heefle . 10/- kes 36,42,66,500 FefkeJeer Mesej (efheues Je<e& 36,42,66,400) 19,60,00,000 FefkeJeer Mesej (efheues Je<e& 19,60,00,000) FefkeJeer Mesej efpeveceW kesvere mejkeej eje Oeeefjle Mesej, efpevekeer jeefMe . 196 kejes[ nw, Meeefceue nw. pees[W : peyle efkeS ieS Mesej pees[

AUTHORISED CAPITAL 150,00,00,000 Equity Shares of Rs.10/- each ISSUED AND SUBSCRIBED CAPITAL 36,70,00,000 Equity Shares of Rs.10/- each (previous year 36,70,00,000/- equity shares of Rs. 10/- each) 36,42,66,500 (Previous Year 36,42,66,400) Equity Shares of Rs.10 each including 19,60,00,000 Equity Shares (Previous year 19,60,00,000 Equity Shares) amounting to Rs.196 crores held by Central Government Add : Forfeited Shares TOTAL SCHEDULE - 2 367,00,00 367,00,00 1500,00,00 1500,00,00

364,26,65 1,26,12 365,52,77

364,26,64 1,26,13 365,52,77

Devegmeteer-2 Heejef#ele efveefOeeeb leLee DeefOeMes<e I meebefJeefOeke Heejef#ele efveefOeeeb HeejefcYeke Mes<e Je<e& kes oewjeve HeefjJeOe&ve II Heejef#ele Hetbpeer efveefOe (hegvece&tueebefkele eejef#ele efveefOe meefnle) HeejefcYeke Mes<e Je<e& kes oewjeve HeefjJeOe&ve/meceeeespeve * *(Hees 37998 (iele Je<e& 4295) kes efJeefvecee Gleej e{eJe kes meceeeespeve kes yeeo) HeefjmebHeefeeeW kes Hegvece&tueebkeve kes keejCe Je<e& kes oewjeve HeefjJeOe&ve keewefleeeb : ueeYe-neefve Keeles ceW Debleefjle Hetvece&tueebefkele Dee} DeeefmleeeW Hej cetue eme

RESERVES & SURPLUS I Statutory Reserves Opening Balance Additions during the Year II Capital Reserves (including Revaluation Reserve) Opening Balance Additions / Adjustments during the Year* *[After adjustment of Exchange fluctutation of Rs.(37998) (Previous year 4295] Additions during the year on account of revaluation of properties Deductions: Depreciation on revalued fixed assets transferred to Profit & Loss account 1789,93,47 362,05,56 402,19,30 85,07,80 2230,37,10 556,80,05 2787,17,15 1871,49,06 358,88,04 2230,37,10

2151,99,03

487,27,10

1377,74,38

72,40,75

2079,58,28

75,08,01

1789,93,47

76

Schedules to Balance Sheet

(000s

Devebefkele omitted) 31 ceee&, 2008 kees

31 ceee&, 2009 kees

As on 31st Mar, 2009

As on 31st Mar, 2008

. Rs.
SCHEDULE - 2

. Rs.

. Rs.

. Rs.

Devegmeteer - 2 Heejef#ele efveefOeeeb leLee DeefOeMes<e

III Mesej Heerefceece

RESERVES & SURPLUS III Share Premium Opening Balance 2273,88,53 3 2273,88,56 2273,88,43 10 2273,88,53 Additions/Adjustments during the Year IV Revenue & Other Reserves a) Statutory Reserve (Foreign) Opening Balance Additions during the Year Other Adjustments b) Special Reserve u/s 36(1) (viii) of Income Tax Act Opening Balance Add: Transferred from General Reserve Add: Additions during the year for FY 2008-09 c) Other Reserves 200,00,00 220,00,00 420,00,00 3659,25,71 74,60,02 1,17,48 16,57,63 92,35,13 77,58,50 70,30 -3,68,78 74,60,02

HeejefcYeke Mes<e Je<e& kes oewjeve HeefjJeOe&ve /meceeeespeve

IV jepemJe Deewj Deve Heejef#ele efveefOeeeb

ke. meebefJeefOeke Heejef#ele efveefOeeeb (efJeosMeer) HeejbefYeke Mes<e Je<e& kes oewjeve HeefjJeOe&ve/ meceeeespeve Deve meceeeespeve

Ke.Deeekej DeefOeefveece keer Oeeje 36(1)(viii) kes Debleie&le efJeMes<e Heejef#ele efveefOeeeb HeejbefYeke Mes<e pees[s : meeceeve Heejef#ele efveefOeeebs mes Debleefjle pees[s : efJelleere Je<e& 2008-09 keer oewjeve HeefjJeOe&ve

ie. Deve Heejef#ele efveefOeeeb HeejbefYeke Mes<e efJelleere Je<e& 2007-08 kes efueS Oeeje 36(1)(viii) kes Debleie&le efJeMes<e Heejef#ele efveefOeeebs kees Debleefjle Je<e& kes oewjeve HeefjJeOe&ve/ meceeeespeve

Opening Balance Transferred to Special Reserve u/s 36(1)(viii) for F.Y 2007-08 Additions/Adjustments during the Year TOTAL - IV (a, b & c) TOTAL (I to IV)

4309,60,79

200,00,00 707,41,44 4817,02,23 5329,37,36 12470,01,35

650,35,08 4309,60,79 4384,20,81 10678,39,91

pees[ IV (ke, Ke Je ie) pees[ (I mes IV)

77

legueve-he$e keer Devegmetefeeeb

(000s

Devebefkele omitted) 31 ceee&, 2008 kees

31 ceee&, 2009 kees

As on 31st Mar, 2009

As on 31st Mar, 2008

. Rs.
SCHEDULE - 3 DEPOSITS

. Rs.

. Rs.

. Rs.

Devegmeteer-3 peceejeefMeeeb ke. I ceebie-peceejeefMeeeb

i) yeQkeesb mes ii) Deve mes II yeele yeQke peceejeefMeeeb III ceereeoer peceejeefMeeeb i) yeQkeesb mes ii) Deve mes

A. I Demand Deposits i) From Banks ii) From Others II Savings Bank Deposits III Term Deposits i) From Banks ii) From Others TOTAL (I to III) B. I Deposits of branches in India II Deposits of branches outside India TOTAL (I & II) 16887,48,83 118570,96,08 135458,44,91 192396,95,17 13416,55,88 91145,18,11 104561,73,99 152034,12,72 682,99,04 13768,23,44 14451,22,48 42487,27,78 616,16,58 11079,83,97 11696,00,55 35776,38,18

pees[ (I mes III) Ke. I Yeejle ceW efmLele MeeKeeDeeW keer peceejeefMeeeb
II Yeejle mes yeenj efmLele

151408,98,64

122479,35,32

MeeKeeDeeW keer peceejeefMeeeb pees[ (I Deewj II)

40987,96,53 192396,95,17

29554,77,40 152034,12,72

Devegmeteer - 4 GOeej ueer ieeer jeefMeeeb Yeejle ceW GOeej ueer ieeer jeefMeeeb
i) Yeejleere efj]peJe& yeQke ii) Deve yeQke iii) Deve mebmLeeve SJeb SpeWefmeeeb

SCHEDULE - 4 BORROWINGS Borrowings in India i) Reserve Bank of India ii) Other Banks iii) Other Institutions and Agencies TOTAL Borrowings outside India Total - Borrowings Secured Borrowings included in above 2700,00,00 17,17,26 18,57,54

442,94,17 3160,11,43 2475,97,16 5636,08,59

670,56,83 689,14,37 3237,90,43 3927,04,80

pees[ Yeejle kes yeenj GOeej ueer ieeeR jeefMeeeb pees[ GOeej ueer ieF& jeefMeeeb GHejeskele ceW Meeefceue peceeveleer GOeej jeefMeeeb

242,94,17

740,22,47

78

Schedules to Balance Sheet

(000s

Devebefkele omitted) 31 ceee&, 2008 kees

31 ceee&, 2009 kees

As on 31st Mar, 2009

As on 31st Mar, 2008

. Rs.
SCHEDULE - 5

. Rs.

. Rs.

. Rs.

Devegmeteer - 5 Deve oseleeSb Deewj HeeJeOeeve :

I ose efyeue II Devlej keeee&uee meceeeespeve (Meg) III GHeefele yeepe IV erej - I Hetbpeer (veJeesvces<eer melele

OTHER LIABILITIES AND PROVISIONS I Bills Payable II Inter Office Adjustments (Net) III Interest Accrued IV Tier - I Capital (Innovative Perpetual Bonds) Series No Interest Sr Interest Date of No Rate Maturity (%p.a.) Series I 8.90% Perpetual

1203,41,49 1110,94,74 1458,42,48

1713,73,63 1193,82,74

yeeb[ )
esCeer mebKee yeepe oj % HeefjHekeJelee leejerKe

(HeefleJe<e&) esCeer I 8.90 % melele Henues 10 Je<e& kes efueS 8.90 % Je eefo 10 Je<e& Hetje nesves Je Gmekes yeeo Heleske Je<e&ieeb" Hej ceebie efJekeuHe veneR efoee peelee nw, 9.40 % HeefleJe<e&

300,20,00

8.90% for first 10 yrs. & 9.40% p.a. thereafter if call option is not exercised on completion of 10th year & each anniversary thereafter Unsecured Redeemable iewj peceeveleer HeefleMeesOe (erej II Hetbpeer (Subordinated Debts for Tier-II Capital) kes efueS ieewCe $e+Ce kepe&)

esCeer

yeepe oj

HeefjHekeJelee keer leejerKe

Sr No Series II (Lower) Option III Series III (Lower) Option I Series IV (Lower) Series V (Lower) Series VI (Lower)

Interest Rate (%p.a.)

Date of Maturity

esCeer II (ueesDej) efJekeuHe III 14.30% 09.04.2009 esCeer III (ueesDej) efJekeuHe I 11.15 % 30.04.2008 esCeer IV (ueesDej) 5.85% 02.07.2014 esCeer V (ueesDej) 7.45% 28.04.2015 esCeer VI (ueesDej) 8.95% 15.05.2016 esCeer VII (DeHej) 9.30% 28.12.2022 Henues 10 Je<eeX kes efueS 9.30 % Je Mes<e 5 Je<eeX kes efueS 9.80 % (eefo 10 Je<e& Hetjs nesves Hej ceebie efJekeuHe veneR efoee peelee nw lees) esCeer VIII (DeHej) 9.30% 4.01.2023 Henues 10 Je<eeX kes efueS 9.30 % Je Debeflece 5 Je<eeX kes efueS 9.80 % (eefo 10 Je<e& Hetjs nesves Hej ceebie efJekeuHe veneR efoee peelee nw lees)

14.30% 09.04.2009

300,00,00

300,00,00

11.15 % 30.04.2008 5.85% 7.45% 8.95% 02.07.2014 28.04.2015 15.05.2016

300,00,00 770,00,00 920,00,00

409,10,00 300,00,00 770,00,00 920,00,00

Series VII (Upper) 9.30% 28.12.2022 9.30% for first 10 yrs. & 9.80% for last 5 yrs. (If call option is not exercised on completion of 10th year) Series VIII(Upper) 9.30% 04.01.2023 9.30% for first 10 yrs. & 9.80% for last 5 yrs. (If call option is not exercised on completion of 10th year)

500,00,00

500,00,00

1000,00,00

1000,00,00

79

legueve-he$e keer Devegmetefeeeb

(000s

Devebefkele omitted) 31 ceee&, 2008 kees

31 ceee&, 2009 kees

As on 31st Mar, 2009

As on 31st Mar, 2008

. Rs.
esCeer IX (DeHej) 9.15% 04.03.2024 Henues 10 Je<eeX kes efueS 9.15 % Je Debeflece 5 Je<eeX kes efueS 9.65 % ((eefo 10 Je<e& Hetjs nesves Hej ceebie efJekeuHe veneR efoee peelee nw lees) esCeer X
(ueesDej) 8.95% 12.04.2018 Series IX (Upper) 9.15% 04.03.2024 9.15% for first 10 yrs. & 9.65% for last 5 yrs. (If call option is not exercised on completion of 10th year) Series X (Lower) 8.95% 12.04.2018 500,00,00 1000,00,00

. Rs.

. Rs.

. Rs.

Debentures (eligible for Tier

ef[yesveme& (HetJe&Jeleea yeerDeesyeerSeSHe eje peejer efkeS ieS erDej II yee@v[ kes efueS Hee$e) 8.30% 06.09.2009 SceerSve - erDej II yee@v[ 6.6250% 25.05.2022 (DeesJejmeerpe) eefo 25-05-2017 kees ceebie efJekeuHe veneR efoee peelee nw lees yeepe oj ces 100 DeeOeejYetle Debkees keer ye{esllejer
V ceeveke DeefieceeW keer SJepe ceW

II Bonds issued by erstwhile BOBHFL) 8.30% 06.09.2009 "MTN - Tier II Bonds 6.6250% 25.05.2022(Overseas)" Step up of 100 bps.in ROI if call option is not exercised on 25.05.2017 V Contingent Provision against Standard Advances 1141,60,67 4491,93,23 16538,14,66 1055,05,68 3209,07,47 12594,41,42 VI Others (including provisions) TOTAL (I to VI ) 1521,62,05 7131,82,05 1203,61,90 5422,71,90 20,00,00 20,00,00

Deekeefmceke HeeJeOeeve
VI Deve (HeeJeOeeveeW meefnle)

pees[ (I mes VI )

SCHEDULE - 6

Devegmeteer - 6 Yeejleere efj]peJe& yeQke kes Heeme vekeoer Deewj Mes<e

I neLe ceW vekeoer (efJeosMeer cege veeseW

CASH AND BALANCES WITH RESERVE BANK OF INDIA I Cash in hand (including foreign currency notes) 998,98,49 880,98,14 II Balances with Reserve Bank of India in Current Account 9597,35,86 10596,34,35 8488,74,20 9369,72,34

meefnle)
II Yeejleere efj]peJe& yeQke kes Heeme eeuet

KeeleeW ceW Mes<e jkece pees[ (I Deewj II)

TOTAL (I & II)

80

Schedules to Balance Sheet

(000s

31 ceee&, 2009 kees . Rs.

SCHEDULE - 7 BALANCES WITH BANKS AND MONEY AT CALL & SHORT NOTICE I In India I Yeejle ceW i) Balances with Banks i) yeQkeeW kes Heeme Mes<e jkece a) in Current Accounts ke) eeuet KeeleeW ceW b) in Other Deposit Ke) Deve pecee KeeleeW ceW Accounts ii) Money at call and short ii) ceebie SJeb DeuHe metevee Hej Heefleose jeefMe notice with a) Banks ke) yeQkeeW kes heeme b) Other institutions Ke) Deve mebmLeeveeW kes heeme TOTAL (i and ii) pees[ (i Deewj ii ) II Outside India II Yeejle mes yeenj i) in Current Accounts i) eeuet KeeleeW ceW ii) in Other Deposit Accounts ii) Deve pecee KeeleeW ceW iii) Money at Call and Short iii) yeQkeeW kes Heeme ceebie SJeb DeuHe Notice with Banks metevee Hej Heefleose jeefMe TOTAL (i, ii and iii) pees[ (i, ii Deewj iii) GRAND TOTAL (I and II) kegue pees[ (I Deewj II) As on 31st Mar, 2009 . Rs.

Devebefkele omitted) 31 ceee&, 2008 kees

. Rs.

As on 31st Mar, 2008 . Rs.

Devegmeteer -7 yeQkeeW kes Heeme Mes<e jkece leLee ceebie SJeb DeuHe metevee Hej Heefleose jeefMe

321,72,90 1081,68,56 1403,41,46

311,13,03 1083,39,00 1394,52,03

1403,41,46

2773,00,00 160,00,00

2933,00,00 4327,52,03

1097,24,03 3803,07,70 7187,04,16 12087,35,89 13490,77,35

705,96,09 4354,70,06 3541,38,15 8602,04,30 12929,56,33

Devegmeteer -8 efveJesMe I Yeejle ceW efveJesMe (mekeue) IeeeW : cetueeme kes efueS HeeJeOeeve

SCHEDULE - 8 INVESTMENTS I Investments in India (Gross) Less: Provision for Depreciation Net Investments in India 491573804 5555998 486017806 406524939 3383433 403141506

Yeejle ceW Meg efveJesMe BREAK-UP Deueie-Deueie efJeJejCe i) Government Securities i) mejkeejer eefleYetefleeeb (efkeueeeEjie [includes Rs.57.88 Crores keeheexjsMeve Dee@]He Fbef[ee ceW (Previous year-Rs.30.35 uee@pe efkeS ieS . 60 kejes[ kes Debefkele Crores) face value of Rs.60.00 cetue (efheues Je<e& . 30 kejes[) kes . Crores (Previous year57.88 kejes[ meefnle (efheues Je<e& . Rs.30.00 Crores) lodged with 30.35 kejes[) Meefceue nw Clg. Corp. of India]
ii) Deve Devegceesefole HeefleYetefleeeb iii) Mesej iv) ef[yeWej Deewj yeeb[ v) Deveg<ebieer FkeeFeeb Deewj / ee mebege ii) Other Approved Securities iii) Shares iv) Debentures and Bonds v) Subsidiaries and/or Joint Ventures [includes Bank's share of contribution as advance of Rs.101.27 Crores (Previous year Rs.73.16 Crores) towards Share Capital of RRBs pending allotment]

401346688 9666527 6060926 30140400

335479959 11526126 7758046 26033403

Gece (FmeceW yeQke kee, #es$eere ieeceerCe DebMeoeve HeWef[bie DeueeceQ . 101.27 kejes[) Meeefceue nQ. (efheues Je<e& . 73.16 kejes[)

7352803

6873743

81

legueve-he$e keer Devegmetefeeeb

(000s

31 ceee&, 2009 kees . Rs.

vi) Deve efveJesMe As on 31st Mar, 2009 . Rs. vi) Other Investments (Commercial Papers, I.V.P., KVP, Units of UTI & Other Mutual Funds, Pass Through Certificates etc.)

Devebefkele omitted) 31 ceee&, 2008 kees

. Rs.

As on 31st Mar, 2008 . Rs.

(JeeefCeefpeke He$eeW, Fbefoje efJekeeme He$eeW, efkemeeve efJekeeme He$eeW, eterDeeF& ettefveeW, Deewj Deve cetetDeue Heb[, Heeme-Let HeceeCe He$e Deeefo ceW)
II Yeejle kes yeenj efveJesMe (mekeue)

31450462 486017806 42058260 3617308 38440952

15470229 403141506 36566531 1007359 35559172

II Investments Outside India (Gross) Less: Provision for IeeeW : cetueeme kes efueS HeeJeOeeve Depreciation Net Investments Outside India Yeejle kes yeenj Meg efveJesMe BREAK-UP Deueie-Deueie efJeJejCe I Government Securities I mejkeejer HeefleYetefleeeb (mLeeveere (Including Local Authorities) HeeefOekeeefjeeW meefnle) II efJeosMeeW ceW Deveg<ebefieeeb Deewj / ee mebege II Subsidiaries and/or joint ventures abroad Gece III Other Investments III Deve efveJesMe (ef[yeWej, yeeb[ Deeefo) (Debentures, Bonds etc.)

7142785 2844357 28453810 38440952 524458758 13948,38,31 66814,64,74 63222,86,56 143985,89,61

7138147 2282161 26138864 35559172 438700678 8851,84,40 48264,87,12 49584,60,89 106701,32,41

pees[ (I Deewj II)

TOTAL (I and II) SCHEDULE - 9 ADVANCES

Devegmeteer-9 Deefiece ke. i) KejeroW Deewj YegveeS ieS efyeue

ii) vekeo $e+Ce, DeesJej [^eHe Deewj

ceebie Hej egkeewleer eesie $e+Ce

iii) ceereeoer $e+Ce

pees[ Ke. i) cetle& DeeefmleeeW eje mebjef#ele (yener-$e+Ce keer SJepe ceW DeefieceeW meefnle)
ii) yeQke/mejkeejer ieejbefeeW eje

A. i) Bills Purchased and Discounted ii) Cash Credits, Overdrafts and Loans Repayable on Demand iii) Term Loans TOTAL B. i) Secured by Tangible Assets (includes advances against Book Debts) ii) Covered by Bank/ Government Guarantees iii) Unsecured TOTAL C. I Advances in India i Priority Sector ii Public Sector iii Banks iv Others II Advances Outside India i Due from Banks ii Due from Others a) Bills Purchased & Discounted b) Syndicated Loans c) Others TOTAL C (I & II)

94141,23,68 16143,47,59 33701,18,34 143985,89,61 38250,04,61 22347,68,17 49,14,12 48636,12,93 109282,99,83 176,00,20 11346,72,05 7734,38,85 15445,78,68

71088,83,56 7597,78,20 28014,70,65 106701,32,41 29474,54,36 13527,32,14 1644,21,99 39857,22,10 451,14,47 6297,84,26 6140,69,85 9308,33,24

jef#ele
iii) iewj-peceeveleer

pees[ ie. I Yeejle ceW Deefiece i HeeLeefcekelee HeeHle #es$e ii meeJe&peefveke #es$e iii yeQke iv Deve II Yeejle mes yeenj Deefiece i yeQkeeW mes HeeHe ii Deve mes HeeHe ke) Kejeros Deewj YegveeS ieS efyeue Ke) mecetn $e+Ce ie) Deve pees[ ie (I Deewj II)

84503,30,59

34702,89,78 143985,89,61

22198,01,82 106701,32,41

82

Schedules to Balance Sheet

(000s

31 ceee&, 2009 kees

As on 31st Mar, 2009

Devebefkele omitted) 31 ceee&, 2008 kees . Rs.

As on 31st Mar, 2008

. Rs.
SCHEDULE - 10

. Rs.

. Rs.

Devegmeteer-10 Deeue Deeefmleeeb I Heefjmej efheues Je<e& kes 31 ceee& kees ueeiele/ Hegvece&tueebefkele jeefMe Hej
Je<e& kes oewjeve HeefjJeOe&ve/ meceeeespeve

FIXED ASSETS I Premises At cost/revalued amount as on 31st March of the preceding year Additions/adjustments during the Year

2373,53,76 45,29,13 2418,82,89

960,21,66 1417,50,02 2377,71,68 4,17,92 2373,53,76

DeJeefOe kes oewjeve keewefleeeb/meceeeespeve

Deductions/adjustments during the period

3,79,14 2415,03,75

IeeSW: Deepe keer leejerKe Hej cetueeme/HeefjMeesOeve (Hegvece&tueebefkele jeefMe meefnle)

II Deve Dee} Deeefmleeeb (Heveeaej SJeb

Less:- Depreciation/ Amortisation to date (including on revalued amount) II Other Fixed Assets (including Furniture & Fixtures) : At cost/valued amount as on 31st March of the preceding year Additions/adjustments during the Year Less:- Deductions/ adjustments during the Year Less:- Depreciation to date III Assets given on Lease (Acquired on winding up of a subsidiary) At cost/valued amount as on 31st March of the preceding year Less:- Depreciation to date

460,23,26

1954,80,49

374,32,72

1999,21,04

efHekemeej kees efce}ekej) efheues Je<e& kes 31 ceee& kees }eiele / cetueebefkele jeeefMe Hej Je<e& kes oewjeve heefjJeOe&ve/meceeeespeve

1413,60,71 162,53,47 1576,14,18

1270,44,52 253,29,18 1523,73,70

IeeSW : Je<e& kes oewjeve keewefleeeb/ meceeeespeve

37,04,90 1539,09,28 1184,17,84 354,91,44

110,12,99 1413,60,71 985,80,94 427,79,77

IeeSW: Deepe keer leejerKe leke cetueeme

III Hes Hej oer ieeer Deeefmleeeb (Deveg<ebieer

FkeeF& yebo kejves Hej DeefOeienerle)

efheues Je<e& kes 31 ceee& keer ueeiele / cetueebefkele jeeefMe Hej

13,95,89 13,95,89 2309,71,93

13,95,89 13,95,89 2427,00,81

IeeSW : Deepe keer leejerKe leke cetueeme

pees[ (I mes III)

TOTAL (I to III)

83

legueve-he$e keer Devegmetefeeeb / Schedules to Balance Sheet

(000s

Devebefkele omitted) 31 ceee&, 2008 kees

31 ceee&, 2009 kees

As on 31st Mar, 2009

As on 31st Mar, 2008

. Rs.
Devegmeteer -11 Deve Deeefmleeeb
I Deblej keeee&uee meceeeespeve (Meg) II GHeefele yeepe III Deefiece kej Yegieleeve/eesle Hej kej

. Rs.

. Rs.

. Rs.

SCHEDULE - 11 OTHER ASSETS I Inter-Office Adjustments (Net) II Interest Accrued III Tax paid in advance/tax deducted at source (net of provisions) IV Stationery & Stamps V Others TOTAL (I to V) 1736,53,51 653,87,57 1613,24,15

keewleer (HeeJeOeeveeW kee Meg)

IV uesKeve meeceieer Deewj mecHe V Deve

969,34,12 6,95,09 1865,29,00 4578,11,72

762,82,24 8,03,97 1263,85,02 4301,82,95

pees[ (I mes V)

Devegmeteer -12 Deekeefmceke oseleeSb

I

SCHEDULE - 12 CONTINGENT LIABILITIES I Claims against the Bank not acknowledged as Debts 1297,35,88 19,63,09 1233,29,20 207,49,98

ceevee ieee
II DeebefMeke egkelee efveJesMeeW kes efuees oselee II Liability for partly paid Investments III yekeeee Jeeeoe efJeefvecee mebefJeoeDeeW kes

keejCe oselee
IV ieenkeesb keer Deesj mes oer ieeer ieejbefeeb:

III Liability on account of outstanding Forward Exchange Contracts IV Guarantees given on behalf of Constituents : a) In India b) Outside India 6323,01,56 3072,36,91

48186,85,96

56492,49,48

ke) Yeejle ceW Ke) Yeejle mes yeenj

4768,26,79 9395,38,47 2024,92,62 6793,19,41

V mJeerke=efleeeb, Hejebkeve SJeb Deve oeefelJe V Acceptances, Endorsements and Other Obligations VI Deve ceoW, efpevekes efueS yeQke keer

8620,64,58 5866,21,85 73386,09,83

6790,49,40 10845,35,36 82362,32,83

VI Other items for which the Bank is Contingently liable TOTAL (I to VI)

Deekeefmceke oselee nQ, pees[ (I mes VI)

84

ueeYe neefve uesKes keer Devegmetefeeebb / Schedules to Profit & Loss Account

ueeYe neefve uesKes keer Devegmetefeeeb

Schedules to Profit & Loss Account
(000s

31 ceee&, 2009 kees

Year ended 31st Mar, 2009

Devebefkele omitted) 31 ceee&, 2008 kees

Year ended 31st Mar, 2008

. Rs.
Devegmeteer-13 Deefpe&le yeepe
I DeefieceeW/efyeueeW Hej yeepe/yee II efveJesMeeW Hej Deee III Yeejleere efj]peJe& yeQke kes Heeme Mes<e

. Rs.

. Rs.

. Rs.

SCHEDULE - 13 INTEREST EARNED I Interest / Discount Advances / Bills II Income on Investments III Interest on Balances with Reserve Bank of India and other Inter-Bank Funds IV Others TOTAL (I to IV) on 11197,35,64 3310,66,69 8412,97,27 2737,29,20

jkece Deewj Deve Deblej yeQke efveefOeeeW Hej yeepe

IV Deve

401,45,94 182,09,47 15091,57,74

553,66,22 109,54,98 11813,47,67

pees[ (I mes IV)

Devegmeteer -14 Deve Deee

I keceerMeve, efJeefvecee Meguke Deewj

SCHEDULE - 14 OTHER INCOME I Commission, Exchange and Brokerage II Profit on sale of Investments Less: Loss on sale of Investments III Profit on sale of Land, Buildings and Other Assets Less: Loss on sale of Land, Buildings and Other Assets IV Profit on Exchange Transactions Less: Loss on Exchange Transactions V Income Earned by way of Dividends etc. from Subsidiaries/Companies and/or Joint Ventures abroad/ in India VI Miscellaneous Income TOTAL (I to VI) 919,76,71 19,62,27 1,31,68 1,36,07 375,54,22 3,15,32 372,38,90 -439 900,14,44 745,50,36 550,64,52 18,44,41 1,37,37 1,00,75 280,12,93 1,34,16 278,78,77 36,62 532,20,11 540,16,78

oueeueer
II efveJesMeeW kes efJeee Hej ueeYe

IeeSb : efveJesMeeW keer efyeeer hej neefve

III Yetefce, FceejleeW Deewj Deve DeeefmleeeW

kes efJeee Hej ueeYe IeeSb : Yetefce FceejleeW Deewj Deve DeeefmleeeW keer efyeeer hej neefve
IV efJeefvecee uesve-osve hej ueeYe

IeeSb : efJeefvecee uesve-osve hej neefve

V efJeosMeeW/Yeejle ceW Deveg<ebieer FkeeFeeW

kebHeefveeeW Deewj/ee mebege GeceeW mes Deee

VI efJeefJeOe Deee

32,22,41 707,44,08 2757,65,80

10,93,81 688,57,52 2051,03,61

pees[ (I mes VI)

85

ueeYe neefve uesKes keer Devegmetefeeebb / Schedules to Profit & Loss Account

(000s

31 ceee&, 2009 kees

Year ended 31st Mar, 2009

Devebefkele omitted) 31 ceee&, 2008 kees

Year ended 31st Mar, 2008

. Rs.
Devegmeteer-15 Kee& efkeee ieee yeepe
I peceejeefMeeeW Hej yeepe II Yeejleere efj]peJe& yeQke/ Deblej yeQke

. Rs.

. Rs.

. Rs.

SCHEDULE - 15 INTEREST EXPENDED I Interest on Deposits II Interest on Reserve Bank of India / Inter Bank Borrowings III Others TOTAL (I to III) 9187,50,48 7404,36,56

GOeej jeefMeeeW Hej yeepe

III Deve

292,33,83 488,32,45 9968,16,76

105,64,22 391,66,28 7901,67,06

pees[(I mes III)

Devegmeteer-16 Heefjeeueve Jee

I kece&eeefjeeW kees Yegieleeve Deewj

SCHEDULE - 16 OPERATING EXPENSES I Payments to and Provisions for Employees II Rent, Taxes and Lighting III Printing and Stationery IV Advertisement Publicity V Depreciation Property on and 39,96,92 Banks 302,91,00 307,07,65 33,17,86 2348,13,33 260,79,22 26,66,49 1903,76,40 225,33,54 22,05,26

lelmebybeOeer HeeJeOeeve
II efkejeee, kej Deewj efyepeueer III HeeF& Deewj uesKeve meeceieer IV efJe%eeHeve SJeb Heeej V yeQke keer mecHeefe Hej

cetueeme IeeeW : Dee} mecHeefeeeW kes Hegvecet&ueebkeve kes keejCe Heejef#ele Hetbpeer mes meceeeesefpele cetueeme
VI efveosMekeeW keer Heerme, Yees Deewj Kee& VII uesKee Hejer#ekeeW keer Heerme Deewj Keex

Less Depreciation adjusted from capital reserve on account of revaluation of immovable properties VI Directors Fees, Allowances and Expenses VII Auditors Fees and Expenses (including Branch Auditors Fees and Expenses) VIIILaw Charges IX Postages, Telegrams, Telephones etc. X Repairs and Maintenance XI Insurance XII Other Expenditure TOTAL (I to XII)

72,40,75

230,50,25 1,04,49

75,08,01

231,99,64 77,90

(MeeKee uesKee Hejer#ekeeW keer Heerme SJeb Keex meefnle)

VIIIefJeefOe HeYeej IX [eke, leej Deewj sueerHeesve Deeefo X cejccele Deewj jKejKeeJe XI yeercee XII Deve Keex

31,08,61 13,48,56 43,38,68 104,81,32 139,82,88 336,35,42 3576,06,17

23,52,09 12,84,72 48,58,80 58,86,87 115,42,15 357,93,98 3034,29,21

pees[ (I mes XII)

86

GuuesKeveere uesKeebkeve veerefleeeb / Significant Accounting Policies

Devegmeteer-17 : Je<e& 2008-2009 keer GuuesKeveere uesKeebkeve veerefleeeb

Schedule - 17 Significant Accounting Policies For The Year 2008-2009
1. leweejer kee DeeOeej : efJeeere efJeJejefCeeeb, peye leke efke DeveLee GuuesKe ve nes, HejcHejeiele ueeiele DeeOeej Hej leweej keer ieF& nQ. es Yeejle ceW meeceeveleee ceeve uesKeekejCe efmeeble kes Devegmeej nQ efpeveceW meebefJeefOeke HeeJeOeeve, efJeefveeeceke/Yeejleere efj] peJe& yeQke kes efoMeeefveoxMe, Yeejleere meveoer uesKeekeej mebmLeeve (DeeF&meerSDeeF&) eje peejer uesKee ceeveke/ceeie&oMeea veesdme leLee Yeejle kes yeQefkebie Geesie ceW Heeefuele keee&HeCeeueer meceeefJe< nw. efJeosMeer keeee&ueeeW kes meboYe& ceW mebyebefOele osMeeW kes Heeefuele meebefJeefOeke HeeJeOeeveeW Deewj keee&HeCeeueer kee DevegHeeueve efkeee ieee nQ. efJeeere efJeJejCeeW kees leweej kejves ceW efJeeere efJeJejCe keer leejerKe kees efjHees& keer ieF& Deeefmle SJeb oseleeDeeW (Deekeefmceke oseleeDeeW meefnle) leLee efjHees& keer ieF& DeJeefOe nsleg Deee SJeb Jee mebyebOeer jeefMe kees efjHees& kejves nsleg HeyebOeve kees keefleHee DevegceeveeW Deewj DeekeueveeW kee meneje uesvee He[e nw. HeyebOeve kee efJeMJeeme nw efke efJeeere efJeJejCe kees leweej kejves kes efueS Heegkele Deekeueve efJeJeskeHetCe& Deewj Gefele nQ. 2. efJeosMeer cege mebJeJenej : 2.1 efJeosMeer cege efJeefvecee mes mebyebefOele mebJeJenejeW kees efJeosMeer cege efJeefvecee ojeW kes HeefjJele&ve kes HeYeeJe mes mebyebefOele Yeejleere meveoer uesKeekeej nw. 2.2 uesKee ceeveke - SSme-11 kes Devegmeej yeQke kes efJeosMeer cege HeefjeeueveeW Jeieeake=le efkeee ieee nw. meYeer efJeosMeer MeeKeeDeeW, Dee@HeMeesj yeQefkebie FkeeFeeW, efJeosMeer Deveg<ebefieeeW kees He=Leke Heefjeeueve SJeb efJeosMeer cegeW ceW Iejsuet heefjeeueveeW SJeb HeefleefveefOe keeee&ueeeW kees Skeerke=le Heefjeeueve kes
2.2 2. 1. Basis of Preparation: The financial statements have been prepared under the historical cost convention unless otherwise stated. They conform to Generally Accepted Accounting Principles (GAAP) in India, which comprises statutory provisions, regulatory / Reserve Bank of India (RBI) guidelines, Accounting Standards / guidance notes issued by the Institute of Chartered Accountants of India (ICAI) and the practices prevalent in the banking industry in India. In respect of foreign offices, statutory provisions/ Accounting standards/ principles and practices prevailing in respective foreign countries are complied with. The preparation of financial statements requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities) as of date of the financial statements and the reported income and expenses for the reporting period. Management believes that the estimates used in the preparation of the financial statements are prudent and reasonable. Foreign Currency Transactions: 2.1 Accounting for transactions involving foreign exchange is done in accordance with Accounting Standard (AS) 11, The Effects of Changes in Foreign Exchange Rates, issued by The Institute of Chartered Accountants of India. As stipulated in AS-11, the foreign currency operations of the Bank are classified as a) Integral Operations and b) Non Integral Operations. All Overseas Branches, Offshore Banking Units, Overseas Subsidiaries are treated as Non Integral Operations and domestic operations in foreign exchange and Representative Offices are treated as Integral Operations. Translation in respect of Integral Operations: a) b) The transactions are initially recorded on weekly average rate as advised by FEDAI. Foreign Currency Assets and Liabilities (including contingent liabilities) are translated at the closing spot rates notified by FEDAI at the end of each quarter. The resulting exchange differences are recognized as income or expenses and are accounted through Profit & Loss Account. Any reversals / payment of foreign currency assets & liabilities is done at the weekly average closing rate of the preceding week and the difference between the outstanding figure and the amount for which reversal / payment is made, is reflected in Profit and Loss Account. Assets and Liabilities (including contingent

2.3 Skeerke=le HeefjeeueveeW kes mebyebOe ceW DeblejCe : (ke) mebJeJenejeW kees HeeLeefceke leewj Hej Yeejleere efJeosMeer cege JeeHeejer mebIe (Hes[eF&) eje metefele keer ieF& Deewmele meeHleeefnke ojeW Hej efjkee[& efkeee ieee nw. (Ke) efJeosMeer cege efJeefvecee mes mebyebefOele Deeefmle SJeb oseleeDeeW (Deekeefmceke oseleeDeeW meefnle) kees Hes[eF& eje Heleske efleceener kes Deble ceW metefele keer ieF& keueesefpebie mHee@ ojeW Hej efjkee[& efkeee ieee nw. ceW keer ieF& nw leLee Fmes leovegmeej ueeYe neefve Keeles ceW efJeefveeesefpele efkeee ieee nw. efJeosMeer cege Deeefmle oseleeDeeW mebyebOeer efkemeer Yeer Yegieleeve DeLeJee efjJeme&ue kees Deieues meHleen keer Deewmele keueesefpebie ojeW kes DeeOeej Hej efkeee peeSiee leLee yekeeee jeefMe SJeb Gme jeefMe, efpemekes efueS Yegieleeve efkeee ieee nw/efjJeme&ue efkeee ieee nw, kes yeere kes Deblej kees ueeYe neefve Keeles ceW oMee&ee ieee nw. 2.4 He=Leke HeefjeeueveeW kes mebyebOe ceW DeblejCe : (ke) DeeefmleeeW SJeb oseleeDeeW (Deekeefmceke oseleeDeeW meefnle) kees Hes[eF&

2.3

c)

2.4

Translation in respect of Non Integral Operations: a)

87

GuuesKeveere uesKeebkeve veerefleeeb

eje Heleske efleceener kes Deble ceW metefele keer ieF& keueesefpebie mHee ojeW Hej Debleefjle efkeee ieee nw. (Ke) Deeceoveer SJeb KeeeX kees Hes[eF& eje Heleske efleceener kes Deble ceW metefele keer ieF& Deewmele efleceener ojeW Hej Debleefjle efkeee ieee nw. (ie) HeefjCeeceer efJeefvecee DeblejeW keer ieCevee Gme DeJeefOe kes efueS Deee kes efvemleejCe nesves leke Deueie mes Ske Keeles efJeosMeer cege DeblejCe efveefOe ceW jKee peelee nw.
2.5 b)

liabilites) are translated at the closing spot rates notified by FEDAI at the end of each quarter. Income and Expense are translated at quarterly average rate notified by FEDAI at the end of each quarter. The resulting exchange differences are not recognized as income or expense for the period but accumulated in a separate account Foreign Currency Translation Reserve till the disposal of the net investment.

c)

Forward Exchange Contracts In accordance with the guidelines of FEDAI and the provisions of AS-11, outstanding forward exchange contracts in each currency are revalued at the Balance Sheet date at the corresponding forward rates for the residual maturity of the contract. The difference between revalued amount and the contracted amount is recognised as profit or loss, as the case may be.

2.5

Jeeeoe efJeefvecee kejej uesKeeceeveke (SSme-11 leLee Yeejleere efJeosMeer cege JeeHeejer mebIe (Hes[eF&) kes efoMeeefveoxMeevegmeej mebefJeoe kes DeJeefMe< HeefjHekeJelee kes ceW yekeeee Jeeeoe efJeefvecee mebefJeoeDeeW kee Hegvecet&ueebkeve efkeee ieee nw. Hegvecet&ueebefkele jeefMe leLee mebefJeoe jeefMe kes yeere kes Deblej kees

3. efveJesMe : 3.1 yeQke kes mebHetCe& efveJesMe Hees&Heesefueees kee JeieeakejCe Yeejleere efj]peJe& yeQke (ke) HeefjHekeJelee leke Oeeefjle ceW Jes efveJesMe Meeefceue nbw efpevnW HeefjHekeJelee leke jKeves kes GsMe mes HeeHle efkeee ieee nw. (Ke) JeeHeej nsleg Oeeefjle ceW Jes efveJesMe Meeefceue nQ, efpevnW JeeHeej kes GsMe mes HeeHle efkeee ieee nw. (ie) efyeeer nsleg GHeueyOe ceW Jes efveJesMe Meeefceue nQ, pees GHejeskele (ke) leLee (Ke) ceW Meeefceue veneR nbw, DeLee&le pees ve lees JeeHeej kes GsMe mes HeeHle efkeS ieS nQ Deewj ve ner HeefjHekeJelee leke jKeves kes GsMe mes HeeHle efkeS ieS nQ.

3.

Investments: 3.1 The Investment portfolio of the Bank is classified, in accordance with the Reserve Bank of India guidelines, into: a. Held to Maturity comprising Investments acquired with the intention to hold them till maturity. Held for Trading comprising Investments acquired with the intention to trade. Available for Sale comprising Investments not covered by (a) and (b) above i.e. those which are acquired neither for trading purposes nor for being held till maturity.

b. c.

3.2

Hej efueee ieee nw, yeMelex Jen Debefkele cetue mes DeefOeke nes, Fme efmLeefle ceW Heerefceece kees HeefjHekeJelee keer Mes<e DeJeefOe leke HeefjMeesefOele efkeee ieee nw.

Investments classified as Held to Maturity are carried at weighted average acquisition cost unless it is more than the face value, in which case the premium is amortized over the period remaining to maturity. Investments classified as Held to Maturity includes debentures / bonds which are deemed to be in the nature of / treated as advances (for which provision is made by applying the Reserve Bank of India prudential norms of assets classification and provisioning applicable to Advances), Investments in Regional Rural Banks, Treasury Bills, Commercial Papers, Indira Vikas Patras, Kisan Vikas Patras and Certificates of Deposit which have been valued at carrying cost. Investments in subsidiaries and joint ventures (both in India and abroad) are valued at acquisition cost less diminution, other than temporary in nature Banks investments in units of VCFs made after 23.08.2006 will be classified under HTM category for initial period of three years and are valued at cost. After period of three years from date of disbursement, it will be shifted to AFS and marked-

leLee efpevekes efueS Deeefmle JeieeakejCe mebyebOeer Yeejleere efj]peJe& yeQke kes efJeJeskeHetCe& ceeveob[ leLee DeefieceeW Hej ueeiet HeeJeOeeve SJeb #es$eere ieeceerCe yeQkeeW, ^s]pejer efyeue, keceefMe&eue HesHeme&, Fbefoje efJekeeme-He$e, efkemeeve efJekeeme He$e Deewj pecee HeceeCe-He$e Hej efkeS ieS efveJesMe nsleg HeeJeOeeve efkeee ieee nw Deewj efpevekes cetue kee efveOee&jCe jKeeJe ueeiele Hej efkeee peeSiee. mebegkele GeceeW leLee Deveg<ebefieeeW ceW (Yeejle leLee efJeosMeeW oesveeW ceW), DemLeeeer Hekeej kes efveJesMeeW kees es[kej efveJesMeeW kee cetueebkeve eme cetue kees Ieekej DeefOeienCe ueeiele Hej efkeee ieee nw. 23.08.2006 kes Heeele JeermeerSHe keer FkeeFeeW ceW yeQke kes efveJesMe kees eejbefYeke 3 Je<eeX keer DeJeefOe kes efueS SeerSce mebJeieF& cesb Jeieeake=le efkeee ieee Lee leLee ueeiele Hej cetue jKee ieee Lee. mebefJeleCe keer leeefjKe mes 3 Je<e& Heeele, Fvnsb SSHeSme ceW efMeHe kej efoee ieee leLee ceeveoC[eW

88

Significant Accounting Policies

kes Devegmeej yeepeej cetue kees JeneR ceW Debefkele efkeee ieee nw.
3.3

to-market as per norms. Profit / Loss on sale of Investments classified as Held to Maturity is recognized in the Profit & Loss Account based on the weighted average cost / book value of the related Investments and an amount equivalent of profit (Net of taxes and statutory reserve) on sale of Investments in Held to Maturity classification is appropriated to Capital Reserve Account. Investments classified as Held for Trading and Available for Sale are marked to market scripwise and the resultant net depreciation if any, in each category disclosed in the Balance Sheet is recognized in the Profit and Loss Account, while the net appreciation, if any, is ignored. Investments made by the PD in Treasury Bills under HFT category are to be marked-to-market on quarterly basis based on the FIMMDA prices declared and the resultant net depreciation if any, is recognized in the Profit and Loss Account, while the net appreciation, if any, is ignored. 3.5 In respect of non-performing securities, income is not recognised, and provision is made for depreciation in the value of such securities as per Reserve Bank of India guidelines. Cost of acquisition of Investments is net of incentives, front-end fees and commission.

efyeeer Hej ueeYe/neefve, efveJesMe mes mebyebefOele Yeeefjle Deewmele ueeiele/ yener cetue kes DeeOeej Hej ueeYe/neefve uesKes ceW efueee peelee nw leLee HeefjHekeJelee leke Oeeefjle JeieeakejCe ceW efveJesMe keer efyeeer Hej mecelegue ueeYe (Meg kej SJeb meebeJeefOeke efveefOe) kes meceeve jeefMe Hetbpeeriele f Heejef#ele Keeles ceW meceeeesefpele keer ieF& nw.
3.4

Jeieeake=le efveJesMe yee]peej efmeHeJeej efeefvnle efkeee peelee nw Deewj legueve he$e ceW Ieesef<ele HeefjCeeceer Meg cetueeme eefo keesF& nes, kees ueeYe neefve Keeles kes efnmeeye ceW efueee peelee nw, peyeefke eefo keesF& cetue Je=ef nes lees Gmes es[ efoee peelee nw. SeSHeer mebJeie& kes lenle ^spejer efyeueeW ceW Heer[er eje efkeee ieee efveJesMe kees Ieesef<ele SHeDeeF&SceSce[erS cetueeW kes DeeOeej Hej efleceener DeeOeej Hej yeepeej cetue kees yener ceW Debefkele efkeee ieee nw leLee Meg [sefeefMeSMeve, eefo keesF& nw lees, Gmes ueeYe leLee neefve Keeles ceW oMee&ee ieee nw peyeefke Meg SefeefMeSMeve, eefo keesF& nw lees, vepej Deboepe kej efoee ieee nw. 3.5 iewj-efve<Heeefole HeefleYetefleeeW kes mebyebOe ceW Deee kees ceevelee veneR oer ieF& nw Deewj Fve HeefleYetefleeeW kes cetue ceW cetueeme kes efueS Yeejleere efj]peJe& yeQke kes efoMee efveoxMeevegmeej GHeegkele HeeJeOeeve efkeee ieee nw. efveJesMe DeefOeienCe ueeiele HeeHle HeeslmeenveeW leLee eb Sb[ Heer Deewj keceerMeve kee efveJeue nw. JeeHeej kes efueS Oeeefjle leLee efyeeer kes efueS GHeueyOe esCeer kes efveJesMeeW kes cetueebkeve kes efueS yee]peej me@ke SkemeeWpe ceW G=le ojW, HeeFcejer [erueme& SmeesefmeSMeve Dee@He] Fbef[ee (Heer[erSDeeF&)/efHekem[ Fvkece ceveer ceekex Sb[ [sefjJe@efJme SmeesefmeSMeve (SHeDeeF&SceSce[erS) eje Ieesef<ele ojeW kee GHeeesie efkeee ieee nw. efpeve efveJesMeeW kes efueS Ssmeer ojW/G=le ojW GHeueyOe veneR nQ, Gvekee cetueve Yeejleere efj]peJe& yeQke kes efveOee&efjle ceeveob[eW kes Devegmeej efkeee ieee nw, pees efvecveevegmeej nQ :ke) HeefjHekeJelee HeefleHeue kes DeeOeej Hej mejkeejer/Devegceesefole HeefleYetefleeeb Ke) FefkeJeer MesejeW, HeerSmeet Deewj ^mer MesejeW kees Deeleve legueve-He$e (12 ceen mes DeefOeke Hegjevee veneR) kes Devegmeej yener cetue Hej DeveLee .1/- Heefle kebHeveer. ie) DeefOeceeve MesejeW kees HeefjHekeJelee kes HeefleHeue kes DeeOeej Hej Ie) HeerSmeet yeeb[eW kees mecegefele esef[ mHes[ ceeke& DeHe kes meeLe HeefjHekeJelee kes HeefleHeue kes DeeOeej Hej. [) cetegDeue Heb[ keer etefveW, Heb[ eje Heleske mkeerce kes mebyebOe ceW Ieesef<ele Deeleve HegveKe&jero cetue/Sve.S.Jeer. Hej e) Gece Hetbpeer - uesKeeHejeref#ele legueveHe$e kes Devegmeej Ieesef<ele SveSJeer ee Deueie-Deueie SveSJeer pees efke 18 ceen mes peeoe Hegjeveer ve nes, eefo ueieeleej 18 ceen mes DeefOeke kes SveSJeer ee uesKeeHejeref#ele efJeeere Deeke[s GHeueyOe ve nes lees Heele Gece Hetpeer efveefOe (JeermeerSHe) b f b - 1/- . 3.8 efveJesMe GOeej oer ieF& HeefleYetefleeeW kee efveJeue nQ Deewj GmeceW efjHees JeJemLee
3.8

3.6

3.6 3.7

3.7 For the purpose of valuation of quoted investments in Held for Trading and Available for Sale categories, the market rates / quotes on the Stock Exchanges, the rates declared by Primary Dealers Association of India (PDAI) / Fixed Income Money Market and Derivatives Association (FIMMDA) are used. Investments for which such rates / quotes are not available are valued as per norms laid down by Reserve Bank of India, which are as under: a b Government / Approved securities - on Yield to Maturity basis. Equity Shares, PSU and Trustee shares - at book value as per the latest Balance Sheet (not more than 12 months old), otherwise Re.1 per company. Preference Shares- on Yield to Maturity basis. PSU Bonds - on Yield to Maturity basis with appropriate credit spread mark-up. Units of Mutual Funds - at the latest repurchase price / NAV declared by the Fund in respect of each scheme. Venture Capital - Declared NAV or break up NAV as per audited balance sheet which is not more than 18 months old. If NAV/ audited financials are not available for more than 18 months continuously then at Re. 1/per VCF.

c d e

Investments are net of securities lent and include

89

GuuesKeveere uesKeebkeve veerefleeeb

securities borrowed under Repo arrangements.

kes Debleie&le GOeej ueer ieF& HeefleYetefleeeb Meeefceue nQ.

3.9

3.9

efJeosMeer MeeKeeDeeW kes mebyebOe ceW, Yeejleere efj]peJe& yeQke DeLeJee Gme osMe kes efoMee-efveoxMeeW kees, pees Yeer peeoe meKle nes, kee Heeueve efkeee ieee nw. efJeosMeeW ceW efmLele Gve MeeKeeDeeW kes ceeceues ceW peneb Hej efoMee-efveoxMe efJeefveefo&< veneR nw, Jeneb Yee.efj.yeQke kes efoMee-efveoxMeeW kee Heeueve efkeee peelee nw.

In respect of Investments at Overseas Branches, Reserve Bank of India guidelines or those of the host countries, whichever are more stringent are followed. In case of those branches situated in countries where no guidelines are specified, the guidelines of the Reserve Bank of India are followed.

3.10 Fve esefCeeeW kes yeere HeefleYetefleeeW kes DeblejCe keer ieCevee, DeblejCe keer leejerKe kees Gmekeer DeefOeienCe ueeiele/yener cetue/yeepeej cetue ceW mes pees cetueeme, eefo keesF& nw, kes efueS HeeJeOeeve efkeee peelee nw. 3.11 Hegve:Kejero/HeleeJeefle&le Hegve: Kejero yeQke ves Hegve: Kejero leLee HeleeJeefle&le Hegve: Kejero uesveosveeW kees uesKeebekf ele kejves nsleg Yeejleere efjpeJe& yeQke eje yeleeF& ieF& Ske meceeve uesKee HeCeeueer kees DeHeveeee ] nw. (Yeejleere efjpeJe& yeQke kes meeLe eueefJeefOe meceeeespeve megeJeOee (SueSSHe) ] f kes Debleie&le ngS uesveosveeW kees e[kej). leodvegmeej, Hegve:Kejero/HeleeJeefle&le Hegve: s Kejero kes Debleie&le Kejeroer/yeseer ieF& HeeleYeteleeeW kees SkecegMle ee/efJeee kes f f

3.10 The transfer of a security between these categories is accounted for at the acquisition cost / book value / market value on the date of transfer, whichever is the least, and the depreciation, if any, on such transfer is fully provided for. 3.11 REPO / Reverse REPO The Bank has adopted the Uniform Accounting Procedure prescribed by the RBI for accounting of market Repo and Reverse Repo transactions [other than transactions under the Liquidity Adjustment Facility (LAF) with the RBI]. Accordingly, the securities sold / purchased under Repo / Reverse Repo are treated as outright sales / purchases and accounted for in the Repo / Reverse Repo Accounts and the entries are reversed on the date of maturity. Costs and revenues are accounted for as interest expenditure / income, as the case may be. Balance in Repo/ Reverse Repo Account is adjusted against the balance in the Investment Account. Securities purchased/ sold under LAF with RBI are debited/ credited to Investment Account and reversed on maturity of the transaction. Interest expended/ earned thereon is accounted for as expenditure/ revenue. 3.12 Derivatives The Bank presently deals in interest rate and currency derivatives. The interest rate derivatives dealt with by the Bank are Rupee Interest Rate Swaps, Foreign Currency interest rate swaps and forward rate agreements. Currency Derivatives dealt with by the Bank are Options and Currency swaps. Based on RBI guidelines, Derivatives are valued as under: The hedge / non-hedge (market making) transactions are recorded separately. Hedging derivative are accounted on an accrual basis. Trading derivative positions are marked-tomarket (MTM) and the resulting losses, if any, are recognized in the Profit and Loss Account. Profit, if any, is not recognized. Income and Expenditure relating to interest rate swaps are recognized on the settlement date. Gains / losses on termination of the trading swaps are recorded on the termination date as income / expenditure. 4. Interest Rate Swaps: 4.1 The interest rate swap transactions for hedging are

nw leLee Hegve: Kejero/HeleeJeefle&le Hegve: Kejero KeeleeW ceW uesKeebekf ele efkeee peelee nw leLee meejer HeeJeef<eeb HeefjHekeJelee efleefLe kees efjJeme& kej oer peeleer nw. eLeeefmLeefle f Devegmeej ueeiele leLee jepemJe keer ieCevee yeepe Jee/Deee kes efnmeeye mes keer ieF&. hegve Kejero/eleeJeefle&le hegve Kejero Keeles ceW yewueWme kees efveJesMe Keeles ceW yewuesvme kes hess meceeeesepele efkeee peelee nw. f Yeejleere efjpeJe& yeQke kes heeme eueefveefOe meceeeespeve megefJeOee kes Debleie&le Kejeroer/yeseer ieF& eefleYetefleeeb efveJesMe Keeles ceW veeces/pecee keer peeleer nQ Deewj mebJeJenej keer heefjhekeJelee hej eleeJeefle&le keer peeleer nQ. Kee& ceW efueee peelee nw. 3.12 ef[efjJesefJme : yeQke Jele&ceeve ceW yeepe ojeW leLee cege [sefjJesefJme ceW [erue kejlee nw. yeQke eje JeJeneefjle yeepe oj [sefjJesefJme ceW Heee yeepe oj mJewHe, efJeosMeer cege yeepe-oj mJesHe leLee HeejJe[& js SieerceWdme Meeefceue nQ. yeQke eje JeJenej ceW ueees peeves Jeeues cege [sefjJesefJme ceW Dee@HMeve leLee cege mJesHme nQ. Yeejleere efj]peJe& yeQke kes efoMee-efveoxMeeW kes DeeOeej Hej, [sefjJesefJme kee cetueebkeve efvecveevegmeej efkeee peelee nw : JeJemLee yeeeJe/iewj JeJemLee yeeeJe (ceekex cesefkebie) mebJeJenej DeueieDeueie efjkee[& efkees peeles nQ. JeJemLee yeeeJe [sefjJesefJme "erke-"erke DeeOeej Hej uesKeebefkele efkees peeles nQ. ^sef[bie [sefjJesefJe HeesefpeMevme ceeke&d[ t ceekex (SceerSce) nQ leLee efkemeer Yeer Hekeej keer neefve, ueeYe-neefve Keeles ceW ope& keer peeleer nw. efkemeer Yeer Hekeej kee ueeYe ope& veneR neslee. neslee nw. ^sef[bie mJewHme kee meceeefHle Hej ueeYe/neefve meceeefHle efleefLe Hej

4. yeepe oj mJewHme : 4.1 nsefpebie kes efueS yeepe oj mJewHe keejesyeejeW kees GHeefele DeeOeej Hej

90

Significant Accounting Policies

uesKeebefkele efkeee ieee nw leLee JeeHeej kes efueS keejesyeejeW kees Yeejleere cetue Hej Debefkele efkeee ieee nw. 4.2 cetueebkeve kes efueS, legueve-He$e keer efleefLe kees mJewHe keer JeemleefJeke cetue keer Gme jeefMe Hej ieCevee keer peeleer nw pees mJewHe kejejeW kes keejesyeej meceeefHle Hej HeeHe ee ose neWies, kegue nesves Jeeueer neefveeeW, eefo neW, kes efueS HetCe&le: HeeJeOeeve efkeee ieee nw, peyeefke ueeYeeW kees es[ efoee ieee nw.
5. 4.2

accounted for on accrual basis and transactions for trading are marked to market at monthly intervals in line with the Reserve Bank of India guidelines. For the purpose of valuation, the fair value of the total swap is computed on the basis of the amount that would be receivable or payable on termination of the transactions of the swap agreements as on the Balance Sheet date. Losses arising therefrom, if any, are fully provided for while the profits, if any, are ignored.

Advances: 5.1 Advances in India are classified as Standard, Sub-standard, Doubtful or Loss assets and Provision for losses are made on these assets as per the Prudential Norms of the Reserve Bank of India. In respect of Advances made in overseas branches, Advances are classified in accordance with stricter of the Prudential Norms prescribed by the Reserve Bank of India or local laws of the host country in which advances are made. Advances are net of specific loan loss provisions, interest suspense, amount received and held in suit-filed Sundry Deposits and Claims Received. In respect of Rescheduled / Restructured accounts, Provision is made for the sacrifice of interest measured in present value terms as per Reserve Bank of India guidelines. The said provision is included under the head Other Liabilities. In case of financial assets sold to Asset Reconstruction Company (ARC) / Securitization Company (SC), if the sale is at a price below the net book value (NBV), (i.e. Book value less provisions held) the shortfall is debited to the Profit and Loss account. If the sale value is higher than the NBV, the surplus provision is not reversed but is utilised to meet the shortfall /loss on account of Sale of other non-performing financial assets.

5. Deefiece : 5.1 Yeejle ceW DeefieceeW kees ceeveke, DeJeceeveke, mebefoiOe ee neefve DeeefmleeeW efj]peJe& yeQke eje efveOee&efjle efoMee-efveoxMeeW kes Devegmeej efkeee ieee nw. efJeosMeer MeeKeeDeeW eje efoS ieS DeefieceeW kes mebyebOe ceW Yeejleere efj]peJe& yeQke kes efveoxMeeW kes Devegmeej DeLeJee Gme osMe, efpemeceW Deefiece efoS ieS Jeieeake=le efkeee ieee nw. 5.2 Deefiece, $e+CeeW Hej neefve kes HeeJeOeeveeW, Geble yeepe, oeJee oeej efkeS ieS SJeb efJeefJeOe pecee SJeb oeJes Keeles kes mebyebOe ceW jKeer ieeer jeefMe kee ves nw. Hegveefve&Oeeefjle/Hegveie&ef"le KeeleeW kes mebyebOe ceW Yeejleere efj]peJe& yeQke kes Devegmeej ceewpetoe cetue MeleeX ceW Deebkes iees yeepe neefveeeW kes efueS HeeJeOeeve efkeee ieee nw. Gme HeeJeOeeve kees Deve oseleeeW Meer<e& kes Debleie&le Meeefceue efkeee ieee nw. Deeefmle Hegveie&"ve kebHeveer (SDeejmeer) /HeefleYeteflekejCe (efmekeeesefjeFpesMeve) kebHeveer (Smemeer) kees yeseer ieF& efJeeere DeeefmleeeW kes ceeceues ceW, eefo efyeeer Meg yener cetue mes kece cetue Hej keer ieF& nes lees neefve (keceer) kees ueeYe neefve Keeles ceW veeces efkeee peelee nw. eefo efyeeer cetue yener cetue mes peeoe nw lees Deefleefjkele HeeJeOeeve jeefMe kees efjJeme& veneR efkeee peelee nw yeefuke Fmes Deve iewj efve<heeoke efJeeere DeeefmleeeW keer efyeeer kejves hej keceer/neefve kees hetje kejves kes efueS Gheeesie ceW efueee peelee nw.
6. 5.2

5.3

5.3

5.4

5.4

6. Deeue Deeefmleeeb : 6.1 Heefjmej Je Deve Deeue Deeefmleeeb Hegvecet&ueebefkele HeefjmejeW kees es[kej, meeceevele: HejcHejeiele cetue Hej ueer ieeer nQ. Hegvecet&ueebkeve Hej ngF& cetueJe=ef, eefo keesF& nes, kees Hetbpeeriele Heejef#ele efveefOe ceW pecee efkeee ieee nw. Ssmeer ye{er ngF& ueeiele Hej cetueeme kes efueS efkeS ieS HeeJeOeeve keer, FmeceW mes keewleer keer peeleer nw. 6.2 Heefjmej ceW Yetefce SJeb efvecee&CeeOeerve HeefjmejeW kees Meeefceue efkeee ieee nw.

Fixed Assets: 6.1 Premises and other Fixed Assets are stated at historical cost except those premises, which have been revalued. The appreciation on such revaluation is credited to Capital Reserve and the depreciation provided thereon is deducted therefrom. Premises include building under construction and land.

6.2 7.

7. Heejef#ele efveefOeeeb SJeb DeefOeMes<e : jepemJe SJeb Deve Heejef#ele efveefOeeeW ceW Heeefuele mLeeveere keevetveeW kes Devegmeej efJeosMeer MeeKeeDeeW eje efveefce&le meebefJeefOeke Heejef#ele efveefOeeeW kees Meeefceue efkeee ieee nw. 8. jepemJe kee efveOee&jCe :

Reserves and Surplus: Revenue and other Reserves include Statutory Reserves created by foreign branches as per applicable local laws of the respective countries.

8.

Revenue Recognition: 8.1 Income / expenditure is recognised on accrual basis, unless otherwise stated. In case of foreign offices, income is recognised as per the local laws

8.1

Deee kees GHeee DeeOeej Hej peye leke efke DeveLee DeHesef#ele nes, uesKeebefkele efkeee ieee nw. efJeosMeer keeee&ueeeW kes ceeceues ceW Deee kees

91

GuuesKeveere uesKeebkeve veerefleeeb

Gme osMe kes keevetve kes Devegmeej efievee peeSiee, peneb Hej efJeosMeer keeee&uee efmLele nw.
8.2

of the country in which the respective foreign office is located. In view of uncertainty of collection of income in cases of Non-performing Assets / Investments, such income is accounted for only on realisation in terms of the RBI guidelines.

Jemetue nesves Hej ner uesKeebefkele nesleer nw. 8.3 MegukeeW mes HeeHle Deee mejkeejer keejesyeejeW kees es[kej keceerMeve, efJeefvecee, oueeueer, Kejeros ieS efyeueeW Hej yee leLee Deefleose efyeueeW/Deefiece efyeueeW Hej yeepe kees JeemleefJeke Jemetueer Hej efnmeeye ceW efueee ieee nw. Deveg<ebefieeeW, mebegkele GHeeceeW leLee meneesieer kebheefveeeW kes MesejeW Hej ef[efJe[W[ JeemleefJeke HeeefHle kes DeeOeej Hej efnmeeye ceW efueS peeSbies.

8.3 Income from Fees, Commission other than on Government business, Commission on Guarantees, Exchange, Brokerage, Interest on Overdue Bills / Advance Bills are accounted on actual realisation. 8.4 Dividend on shares of Subsidiaries, joint ventures and associates are accounted on actual realisation basis.

8.4

9. kece&eeefjeeW kees mesJeeefveJe=efe ueeYe : 9.1 YeefJe<e efveefOe Keeles ceW efkeS ieS DebMeoeve kees ueeYe-neefve Keeles ceW efueee ieee nw.

9. Retirement Benefits to Employees: 9.1 9.2 Contribution to the Provident Fund is charged to Profit and Loss account. Contribution to recognised Gratuity Fund and Pension Fund and the provision for encashment of accumulated leave and additional retirement benefits are made on actuarial basis and charged to Profit and Loss Account. .

ceevelee HeeHle ieseger Heb[ ceW leLee HeWMeve Heb[ ceW DebMeoeve Deewj mebefele DeJekeeMeeW kes vekeoerkejCe SJeb Deefleefjkele mesJeeefveJe=efe ueeYeeW kes HeeJeOeeveeW kees GHeefele DeeOeej Hej uesKeebefkele efkeee ieee nw leLee GvnW ueeYe neefve Keeles ceW HeYeeefjle efkeee ieee nw. 10. cetueeme : 10.1 kebHetj SJeb S er Sce kees es[kej, Deeue DeeefmleeeW Hej cetueeme, kebHeveer DeefOeefveece, 1956 keer Devegmeteer XIV ceW efveOee&efjle ojeW Hej cetueeefmele yener-cetue Heefle kes Debleie&le Heoeve efkeee ieee nw. 10.2 Yeejle mes yeenj Deeue DeeefmleeeW Hej, kebHetj kes DeueeJee cetueeme mLeeveere keevetveeW ee mebyebefOele osMe ceW Heeefuele HejcHejeDeeW kes Devegmeej efkeee ieee nw. 10.3 kebHetjeW Hej cetueeme Yeejleere efj]peJe& yeQke kes efoMee-efveoxMeeW kes Devegmeej m^s ueeFve efJeefOe mes 33.33% keer oj mes Heoeve efkeee ieee nw. kebHetj mee@HeJesej pees efke ne[&Jesej kee DeefveJeee& Debie veneR nw, kee cetueeme Kejero Je<e& kes oewjeve ner kej efoee ieee nw. 10.4 SerSce Hej cetueeme m^s ueeFve Heefle mes 20% oj mes Heoeve efkeee ieee nw. 10.5 HeefjJe&veeW Hej cetueeme kee mebHetCe& Je<e& kes efueS HeeJeOeeve efkeee ieee nw peyeefke efyeeer/efveHeeve kes Je<e& ceW cetueeme kee keesF& HeeJeOeeve veneR efkeee ieee nw. 10.6 Hes Hej Oeeefjle peceerve keer ueeiele Hee DeJeefOe ceW egkelee (Sceese&F&pe) keer peeleer nw. 11. DeeefmleeeW kee Devepe&ve : Deeue DeeefmleeeW (Hegvece&tueebefkele DeeefmleeeW meefnle) Hej Devepe&ke neefveeeW (eefo keesF& nes) kees DeeefmleeeW kes Devepe&ve kes mebyebOe ceW ee&[& SkeeGvsv Dee@He] Fbef[ee eje peejer uesKee ceeveke 28 (DeeefmleeeW kee Devepe&ve) kes Devegmeej ceeve efkeee ieee nw. 12. Deee Hej kej :

9.2

10.

Depreciation: 10.1 Depreciation on Fixed Assets in India except Computers and ATMs, is provided under the written down value basis at the rates prescribed in Schedule XIV to the Companies Act, 1956. 10.2 Depreciation on Fixed Assets outside India except Computers is provided as per local laws or prevailing practices of the respective countries. 10.3 Depreciation on Computers is provided on Straight Line Method at the rate of 33.33%, as per the guidelines of Reserve Bank of India. Computer software not forming an integral part of hardware is depreciated fully during the year of purchase. 10.4 Depreciation on ATMs is provided on Straight Line Method at the rate of 20%. 10.5 While depreciation on additions is provided for full year, no depreciation is provided in the year of sale / disposal. 10.6 Cost of leasehold land is amortised over the period of lease.

11. Impairment of Assets: Impairment losses (if any) on Fixed Assets (including revalued assets) are recognised in accordance with the Accounting Standard-28 (Impairment of Assets) issued by the Institute of Chartered Accountants of India and charged off to Profit and Loss Account. 12. Taxes on Income:

FmeceW Yeejleere meveoer uesKeekeej mebmLee (DeeF&meerSDeeF&) kes uesKeebkeve ceeveob[ 22 kes Devegmeej efveOee&efjle (mecye DeJeefOe kes efueS uesKee Deee leLee kej eesie Deee kes yeere efYevvelee mes kejeW kes HeYeeJe kees oMee&les ngS) Deeekej kes efueS HeeJeOeeve, efebpe yesefveefHe kej SJeb DeemLeefiele kej DeLeJee esef[ Meeefceue nQ.

This comprise of provision for Income tax, fringe benefit tax and deferred tax charge or credit (reflecting the tax effects of timing differences between accounting income and taxable income for the period) as determined in accordance with Accounting Standard 22 of ICAI.

92

Significant Accounting Policies

DeemLeefiele kej kes efueS HeeJeOeeve kees, Deeceoveer SJeb Kee& keer Gve ceoeW kes mebyebOe ceW, pees efkemeer Ske DeJeefOe ceW efveOee&efjle nesleer nw Deewj pees Ske DeLeJee DeefOeke HejJeleea DeJeefOeeeW ceW HeleeJele&ve eesie nQ, efJeJeskeHetCe& veerefle kes DeOeOeerve efnmeeye ceW efueee peelee nw. DeemLeefiele kej DeeefmleeeW SJeb oseleeDeeW Hej kej keer ieCevee DeefOeefveeefcele kej ojeW Hej Gve Je<eeX keer DeHesef#ele ojeW Hej keer peeleer nw efpeve Je<eeX ceW Fvekeer HeeefHle, efjJeme&ue DeLeJee efvemleejCe keer mebYeeJevee nesleer nw. DeemLeefiele kej oseleeDeeW SJeb DeeefmleeeW Hej kej keer ojeW ceW HeefjJele&ve kes HeYeeJe kees Gme DeJeefOe keer Deee efJeJejCeer, efpemeceW Ssmes HeefjJele&ve kees DeefOeefveeefcele efkeee ieee nes, ceW efnmeeye ceW efueee peelee nw. 13. Heefle Mesej Depe&ve : yeQke eje DeHeves yesefmeke SJeb [eFuets[ Heefle FefkeJeer Mesej Depe&ve kees Yeejleere meveoer uesKeekeej mebmLeeve kes Fme mebyebOe ceW peejer uesKee ceeveke 20 kes Devegmeej efjHees& efkeee peelee nw. yesefmeke Heefle Mesej Depe&ve keer ieCevee Meg Deee kees Gme DeJeefOe kes efueS yekeeee Yeeefjle Deewmele FefkeJeer MesejeW keer mebKee mes efJeYeeefpele kej keer peeleer nw. [eFuets[ Heefle Mesej Depe&ve keer ieCevee Meg Deee kees Gme DeJeefOe kes efueS yekeeee Yeeefjle Deewmele FefkeJeer MesejeW SJeb Gme DeJeefOe kes oewjeve [eFuets[ FefkeJeer MesejeW keer mebKee ceW mes ieCevee kej oer ieF& nw. 14. HeeJeOeeve, Deekeefmceke oseleeSb Je Deekeefmceke Deeefmleeeb : Yeejleere meveoer uesKekeej mebmLeeve kes Fme mebyebOe ceW peejer uesKee ceeveke 29 (Deekeefmceke oseleeDeeW SJeb Deekeefmceke DeeefmleeeW kes efueS HeeJeOeeve) kes Devegmeej yeQke eje Deekeefmceke oseleeDeeW SJeb Deekeefmceke DeeefmleeeW kes efueS HeeJeOeeve efJeiele ceW ngF& efkemeer Ievee kes efueS GlHevve ngS Jele&ceeve oeefelJe kes efueS efkeee peelee nw. en mebYeJe nw efke Fme oeefelJe kes efvemleejCe kes efueS DeeefLe&ke mebmeeOeveeW keer DeeJeMekelee nes Deewj leye Fme oeefelJe nsleg jeefMe kee efJeMJemeveere cetueebkeve efkeee pee mekes. Deekeefmceke DeeefmleeeW kees efJeeere efJeJejCe ceW efnmeeye ceW veneR efueee peelee nw, keeeWefke Fmemes HeeHle nesves Jeeueer Deee keer Jemetueer keYeer Yeer mebYeJe veneR nes mekeleer nw.
14. 13.

Deferred tax is recognised subject to consideration of prudence in respect of items of income and expenses those arise at one point of time and are capable of reversal in one or more subsequent periods. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the timing differences are expected to be received, settled or reversed. The effect on deferred tax assets and liabilities of a change in tax rates is recognised in the income statement in the period of enactment of the change. Earnings Per Share: The bank reports basic and diluted earnings per equity share in accordance with the Accounting Standard 20 (Earnings Per Share) issued in this regard by the Institute of Chartered Accountants of India. Basic earnings per equity share has been computed by dividing net income by the weighted average number of equity shares outstanding for the period. Diluted earnings per equity share has been computed using the weighted average number of equity shares and dilutive potential equity shares outstanding during the period. Provisions, Contingent Liabilities and Contingent Assets: As per Accounting Standard 29 (Provisions, Contingent Liabilities and Contingent Assets) issued in this regard by the Institute of Chartered Accountants of India, the Bank recognises provisions only when it has a present obligation as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and when a reliable estimate of the amount of the obligation can be made. Contingent Assets are not recognised in the financial statements since this may result in the recognition of income that may never be realised.

93

uesKeeW hej efhheefCeeeb

Devegmeteer-18 uesKeeW hej efhheefCeeeb

Schedule 18 Notes on Accounts
A. Disclosure in terms of RBI requirements Capital

ke. 1.

Yeejleere efj]peJe& yeQke keer Dehes#eeDeeW kes Devegmeej ekeerkejCe hetbpeer

Items

1.

ceo yesmeue I Basel I 12.88%

7.79% 5.09% 53.81%

eeuet Je<e&
Current Year

efheuee Je<e&
Previous Year

i)

i) CRAR (%) ii) CRAR - Tier I Capital (%) iii) CRAR - Tier II Capital (%) iv) Percentage of the shareholding of the Government of India in bank Amount of subordinated debt raised as Tier-II capital (during the year) 2.

yesmeue II Basel II 14.05%

8.49% 5.56% 53.81%

yesmeue I Basel I 12.91%

7.63% 5.28% 53.81%

yesmeue II Basel II 12.94%

7.64% 5.30% 53.81%

meer Deej S Deej (%) meer Deej S Deej efej I hetbpeer (%) iii) meer Deej S Deej efej II hetbpeer (%) iv) yeQke ceW Yeejle mejkeej keer MesejOeeefjlee kee eefleMele
ii) v)

efej II ieewCe hetbpeer (Je<e& kes oewjeve) efveJesMe

Rs. 1500 Crores

Rs. 2704 Crores

Investments

2.

(. kejes[es ceW / Rs. in Crores)

Items

ceo
(1)Value of Investments (1) efveJesMeeW kee cetue (i) Gross Value of Investments (i) efveJesMeeW kee kegue cetue (a) In India (ke) Yeejle ceW (b) Outside India, (Ke) Yeejle mes yeenj (ii) Provisions for Depreciation (ii) cetueeme kes efueS eeJeOeeve (a) In India (ke) Yeejle ceW (b) Outside India, (Ke) Yeejle mes yeenj (iii) Net Value of Investments (iii) efveJesMeeW kee efveJeue cetue (a) In India (ke) Yeejle ceW (b) Outside India. (Ke) Yeejle mes yeenj (2)Movement of provisions held towards (2) efveJesMeeW hej cetueeme kes efueS depreciation on investments eeJeOeeveeW ceW mebeueve (i) Opening balance (i) DeejbefYeke Mes<e (ii) Add: Provisions made during the year (ii) pees[W : Je<e& kes oewjeve efkeS ieS eeJeOeeve (iii) Less: Write-off / write-back of excess (iii) IeeSb : Je<e& kes oewjeve Deefleefje eeJeOeeveeW kee provisions during the year yedekejCe/hegvejebkeve (iv)Closing balance (iv) Debeflece Mes<e 2.1 Repo Transactions

eeuet Je<e&
Current Year

efheuee Je<e&
Previous Year

49157.38 4205.83 555.60 361.73 48601.78 3844.10

40652.49 3656.65 338.34 100.74 40314.15 3555.92

439.08 611.02 132.77 917.33

446.84 94.65 102.41 439.08

2.1

efjhees mebJeJenej
Je<e& kes oewjeve vetvelece Mes<e
Minimum outstanding during the year 200

(. kejes[es ceW / Rs. in Crores)

Je<e& kes oewjeve DeefOekelece Mes<e

Maximum outstanding during the year 4500

Je<e& kes oewjeve owefveke Deewmele Mes<e

Daily Average outstanding during the year 627.74

31 ceee& 2009 kees

As on March 31, 2009 900

efjhees kes lenle yeseer ieF& eefleYetefleeeb efjJeme& efjhees kes lenle Kejeroer ieF& eefleYetefleeeb

Securities sold under repos Securities purchased under reverse repos

400

3000

185.69

94

Notes on Accounts

2.2

Non-SLR Investment Portfolio

2.2 iewj Sme Sue Deej efveJesMe hees&Heesefueees i) iewj Sme Sue Deej efveJesMeeW kes peejerkelee& Ieke

i) Issuer composition of Non SLR investments (. kejes[es ceW / Rs. in Crores) jeefMe efvepeer huesmeceW efveJesMe es[ kes veeres iewj cetuebeefkele Demeteerye Amount keer meercee HeefleYetefleeeW keer meercee eefleYetefleeeW eefleYetefleeeW Extent of Extent of Below keer meercee keer meercee
Private Placement Investment Grade Securities

meb.
No.

peejerkelee&
Issuer

Extent of Unrated Securities (6) 8.31 0.00 16.23 108.79 0.00 781.65 -29.37 885.61

Extent of Unlisted Securities (7) 54.90 111.64 319.40 199.73 311.74 1303.96 -40.17 2261.20

(1) (i)

(2) PSUs FIs Banks Private Corporate Subsidiaries / Joint Ventures Others Provision held towards depreciation Total

(3) 1393.12 1589.40 3640.03 1036.10 *1019.72 #3598.08 -909.67 11366.78

(4) 795.72 913.04 1473.79 363.09 1019.72 10.14 -0.71 4574.79

(5) 67.07 78.47 125.46 103.94 0.00 120.00 -11.75 483.19

heerSmeet SHeDeeF& (iii) yeQke (iv) efvepeer efveiece (v) Deveg<ebefieeeb / mebegkele Gece (vi) Deve (vii) cetueeme mebbyebefOele eeJeOeeve kegue
(ii)

* Includes Investments in Overseas subsidiary of Rs. 284.44 Crores.

efJeosMeer Deveg<ebefieees ceW .284.44 kejes[ kee efveJesMe Meeefceue nw Yeejle mejkeej vee@ve SmeSueDeej Dee@F&ue yeeB[ ceW 20.41 kejes[ kee efveJesMe Meeefceue nw ii) vee@ve-hejHee@efceie-vee@ve-Sue Sue Deej efveJesMe
Particulars

# Includes Investments in GOI NON SLR Oil Bond Rs. 20.41 Crores. ii) Non-performing Non-SLR investments (. kejes[es ceW / Rs. in Crores)

efJeJejCe
Opening balance

eeuet Je<e&
Current year 174.78

efheuee Je<e&
Previous year 186.00

DeejbefYeke Mes<e 1 Deewue mes Je<e& kes oewjeve heefjJeOe&ve Ghejese DeJeefOe kes oewjeve keewefleeeb Debeflece Mes<e kegue Oeeefjle eeJeOeeve 2.3 [sjerJesefJme 2.3.1 HeejJe[& oj mecePeewles / yeepe oj mJewhe efJeJejCe
i) ii)

Additions during the year since 1st April Reductions during the above period Closing balance Total provisions held 2.3 Derivatives

1.23 18.21 157.80 154.99

9.39 20.61 174.78 173.78

2.3.1 Forward Rate Agreement / Interest Rate Swap (. kejes[es ceW / Rs. in Crores) Items The notional principal of swap agreements Losses which would be incurred if counter parties failed to fulfill their obligations under the agreements Collateral required by the bank upon entering into swaps Concentration of credit risk arising from the swaps The fair value of the swap book

eeuet Je<e&
Current year

efheuee Je<e&
Previous year

4135.42 120.37

6186.53 84.34

heeea eje hetje ve kejves hej nesves Jeeueer neefveeeb

iii) iv) v)

mJewhe ceeveves hej yeQke eje mJewhe mes GlheVe esef[ efjmke kebmeb^sMeve mJewhe yener kee Gefele cetue

217.36 139.11

175.11 47.88

95

uesKeeW hej efhheefCeeeb

yeepeej efvecee&Ce, SHe meer Sve Deej (yeer) ef[heesefpe hees&Heesefueees keer , ef[heesefpedme leLee kee@ue ueseE[ie leLee nseEpeie ceekex ceseEkeie Skemeheespej leLee yeQke erej II yee@C[dme

Forward rate Agreement/Interest Rate Swaps were undertaken for market making, hedging of FCNR (B) Deposit portfolio, deposits and call lending and hedging market making exposures and for hedging Banks Tier II Bonds. All the forward rate agreement/interest rate swaps undertaken to hedge were on the basis of Receive fixed and pay floating. 2.3.2 Exchange Traded Interest Rate Derivatives: (. kejes[es ceW / Rs. in Crores) Particulars

nspe mebyebefOele meYeer Jeeeoe oj kejej / yeepe oj mJewhme efjmeerJe efHekem[ leLee hes HeueeseEie hej DeeOeeefjle Les. 2.3.2 SkemeeWpe ^s[s[ yeepe oj [sjerJesefJme :

meb. e.

efJeJejCe

jeefMe

Sr. No. Amount (i) Je<e& kes oewjeve SkemeeWpe ^s[s[ yeepe oj [sjerJesefJme keer veesMeveue Notional principal amount of exchange traded Metve interest rate derivatives undertaken during the year NIL efebefmeheue jeefMe (efueKeleJeej) (instrument-wise) a) ke b) Ke

c) (ii)

ie SkemeeWpe ^s[s[ yeepe oj [sjerJesefJme keer veesMeveue efebefmeheue jeefMe 31 ceee& 2008 kes Devegmeej (efueKeleJeej)

(iii)

(iv)

Notional principal amount of exchange traded interest rate derivatives outstanding as on 31st March 2008 (instrument-wise) a) ke b) Ke c) ie SkemeWpe ^s[s[ yeepe oj [sjerJesefJme keer veesMeveue efebefmeheue jeefMe Notional principal amount of exchange traded interest rate derivatives outstanding and not highly effective DeleefOeke eYeeJeer veneR (efueKeleJeej) (instrument-wise) a) ke b) Ke c) ie SkemeeWpe ^s[s[ yeepe oj keer ceeke&-t-ceekex keercele [sjerJesefJme Mark-to-market value of exchange traded interest rate derivatives outstanding and not highly effective yekeeee Deewj DeleefOeke eYeeJeer veneR (efueKeleJeej) (instrument-wise) a) ke b) Ke c) ie 2.3.3 Disclosures on risk exposure in derivativesQualitative Disclosure

Metve
NIL

Metve
NIL

Metve
NIL

2.3.3 [sjerJesefJme ceW peesefKece SkemeHeespej kee HekeerkejCe iegCeelceke HekeerkejCe yeQke keer ^spejer veerefle ceW [sjerJesefJme uesve osveeW kes keee& kes efueS meYeer Hekeej keer efJeeere [sjerJesefJme efueKeleeW kes Hekeej, efJemleej SJeb GHeeesie, Devegceesove Heefeee leLee DeesHeve HeespeerMeve efueefce, meHe uee@me efueefce leLee keeGvj Heeea SkemeHeespej efueefce pewmeer efueefceW efveOee&efjle keer ieF& nQ. yeQke DeHeves Dee@ve Deewj Dee@He yewuesvme Meer SkemeHeespejeW keer nsefpebie kes efueS leLee ceekex cesefkebie kes efueS efJeeere [sjerJesefJme uesve osveeW kee GHeeesie kejlee nw, cetuele: es GlHeeo, nsefpebie peesefKece ueeiele kece kejves leLee Ssmes uesve osveeW ceW HeefleHeue ye{eves kes SJeb HeesHejeFjer ^sef[bie kes efueS GHeeesie ceW ueeS peeles nQ. yeQke kees efpeve peesefKeceeW kee Keleje jnlee nw, Jes nQ : yeepeej peesefKece, osMeere peesefKece Deewj Heefjeeueve peesefKece. yeQke keer peesefKece HeyebOeve veerefleeeb (yeQke kes efveosMeke ceb[ue eje Devegceesefole) nQ. pees SceerSce, JeerSDeej leLee HeerJeer01 kes ceeOece mes uesve osveeW keer efJeeere peesefKeceeW kees ceeHeves leLee Gefele peesefKece meerceeSb lee kejves kes efueS leweej keer ieF& nQ. Fvekees yeQke kes peesefKece HeyebOeve efJeYeeie eje

The Treasury Policy of the bank lays down the types of financial derivative instruments, scope of usages, approval procedures and the limits like open position limits, stop loss limits and counter party exposure limits for undertaking derivative transactions. The Bank uses financial derivative transactions for hedging its on or off balance sheet exposures as well as for market making. Basically, these products are used for hedging risk, reducing cost and increasing the yield in such transactions and for proprietary trading. The types of risk to which the bank is exposed to are credit risk, market risk, country risk and operational risk. The Bank has risk management policies (approved by Board of Directors of the Bank), which is designed to measure the financial risks for transactions in the trading book on a regular basis, by way of MTM, VaR and PV01, and to set appropriate risk limits. These are monitored by means of reliable and up to date

96

Notes on Accounts

mecee-mecee Hej efJeMJemeveere SJeb Deeleve HeyebOeve metevee HeCeeefueeeW eje cee@veerj efkeee peelee nw leLee Fme yeejs ceW yeQke kes DeOe#e SJeb HeyebOe efveosMeke keer DeOe#elee Jeeueer efveosMekeeW keer peesefKece HeyebOe meefceefle kees DeJeiele kejeee peelee nw. uesve osveeW keer keeGbj Heeef&eeb, yeQke leLee keeHeexjs Heefle<"eve nQ. Devegceesefole SkemeHeespej meerceeDeeW kes Debleie&le [erue keer peeleer nw. [sjerJesefJme GlHeeoeW Hej $e+Ce peesefKece ceeHeves kes efueS yeQke ves Yeejleere efj]peJe& yeQke eje efveOee&efjle ceewpetoe SkemeHeespej Heefle kees DeHeveeee nw, efpemekes Devegmeej yeQke kegue HeeflemLeeHeve ueeiele kee eesie, (meYeer mebefJeoeDeeW kees mekeejelceke cetue meefnle ceeke&-g-ceekex eje HeeHle kejves DeLee&led peneb yeQke kees keeGbj Heeea mes Oeve HeeHle kejvee nw) leLee $e+Ce peesefKece ceW YeefJe<e ceW nesves Jeeues mebYeeJe HeefjJele&veeW keer jeefMe, efpemekeer ieCevee mebefJeoe keer kegue keefuHele cetue jeefMe Mes<e HeefjHekeJelee kes Devegmeej mebyebefOele esef[ kebveJepe&ve kes meeLe iegCee kejkes Heefjkeefuele keer peeleer nw, efvecveevegmeej nw :keefuHele cetue jeefMe Hej ueeiet efkeee peeves Jeeuee HeeblejCe Ieke
Residual Maturity

Management Information Systems by the Risk Management Department of the Bank from time to time who, in turn, apprises the risk profile to the Risk Management Committee of Directors, which is presided over by the Banks Chairman and Managing Director. The counter parties to the transactions are banks and corporate entities. The deals are done under approved exposure limits. The bank has adopted the current exposure method prescribed by Reserve Bank of India for measuring Credit Exposure on Derivative products as per which the bank sums the total replacement cost (obtained by mark to market of all its contracts with positive value i.e. when the bank has to receive money from the counter party) and an amount for potential future changes in credit exposure calculated on the basis of the total notional principal amount of the contract multiplied by the relevant credit conversion factors according to the residual maturity as detailed herein under:Conversion factor to be applied on notional principal amount

DeJeefMe heefjhekeJelee
Less than one year

yeepe oj mebefJeoe
Interest Rate Contract 0.50%

efJeefvecee oj mebefJeoe
Exchange Rate Contract 2.00%

Ske Je<e& mes kece Ske Je<e& Deewj DeefOeke

One year and above

1.00%

10.00%

nspe leLee iewj-nspe (ceekex cesefkebie) uesve osveeW kees Deueie mes ope& efkeee peelee nw. nwefpebie [sefjJesefJme JeemleefJeke DeeOeej Hej efnmeeye ceW efueS peeles nQ. ^sef[bie [sefjJesefJme HeesefpeMeve (SceerSce) kees ceeke& keer peeleer nw Deewj HeefjCeecemJeHe ueeYe-neefve Keeles ceW eefo keesF& neefve nes, efnmeeye ceW ueer peeleer nw. ueeYe, eefo keesF& nes, veneR ceevee peelee nw, yeepe oj mJewHme mes mebyebefOele yeepe Deewj Jee efveHeeve keer leejerKe Hej ceeve efkeS peeles nQ. ^sef[bie mJewHe kes meceeHle nesves Hej ueeYe /neefve meceeefHle keer leejerKe Hej Deee /Jee ceW ope& efkeS peeles nQ. cee$eelceke HekeerkejCe
Particulars

The hedge/non-hedge (market making) transactions are recorded separately. Hedging derivatives are accounted for on an accrual basis. Trading derivative positions are marked-to-market (MTM) and the resulting losses, if any, are recognized in the Profit and Loss Account. Profit, if any, is not recognized. Income and Expenditure relating to interest rate swaps are recognized on the settlement date. Gains/ losses on termination of the trading swaps are recorded on the termination date as income/expenditure. Quantitative Disclosures (. kejes[es ceW / Rs. in Crores)

meb. e.

efJeJejCe
Derivatives (Notional Principal Amount) a) For hedging b) For trading Marked to Market Positions [1] a) Asset (+) b) Liability (-) Credit Exposure [2] Likely impact of one percentage change in interest rate (100*PV01) a) On hedging derivatives b) On trading derivatives Maximum and Minimum of 100*PV01 observed during the year a) On hedging b) On trading

kejWmeer [sefjJesefJme
Currency derivatives 773.13

yeepe oj [sefjJesefJme
Interest rate derivatives 4066.80

Sr. No. (i) [sefjJesefJme (keefuhele cetue jeefMe)

378.04 395.09 -128.33 3.04 -131.37 69.51 1.08

3046.08 1020.72 271.58 272.66 -1.08 188.31 121.11

(ii)

(iii) (iv)

ke) nweEpeie kes efueS Ke) ^seE[ie kes efueS ceeke&[ t ceekex heesefpeMeve (1) ke) Deeefmleeeb (+) Ke) oseleeSb (-) esef[ Skemeheespej (2) yeepe oj ceW 1% nesves Jeeues heefjJele&ve kee eYeeJe (100*heerJeer 01) ke) nweEpeie [sefjJesefJme hej Ke) ^seE[ie [sefjJesefJme hej Je<e& kes oewjeve osKes ieS (100*heerJeer01) vetvelece leLee DeefOekelece ke) nweEpeie hej Ke) ^seE[ie hej

1.08 NIL 4.40&1.078

120.18 0.93 150.97&92.24

(v)

4.40&1.078 NIL

148.51&91.31 2.46&0.93

97

uesKeeW hej efhheefCeeeb

2.4 2.4.1

2.4

Asset Quality
(. kejes[eW ceW / Rs. in Crores)

Deeefmle iegCeJeee
2.4.1 Non-Performing Asset

Devepe&ke Deeefmleeeb
Items

ceoW
(i) Meg DeefeceeW ceW Meg SveheerS (%) (ii) SveheerS kee mebeueve (mekeue)

eeuet Je<e&
(i) Net NPAs to Net Advances (%) (ii) Movement of NPAs (Gross) (a) Opening balance (b) Additions during the year (c) Reductions during the year (d) Closing balance (iii)Movement of Net NPAs (net of floating provisions) (a) Opening balance (b) Additions during the year (c) Reductions during the year (d) Closing balance (iv)Movement of provisions for NPAs (other than floating provision and provisions on standard assets) (a) Opening balance (b) Provisions made during the year (c)Write-off/ write-back of excess provisions (d) Closing balance
Current Year 0.31%

efheuee Je<e&
Previous Year 0.47%

(ke) DeejbefYeke Mes<e (Ke) Je<e& kes oewjeve pees[s ieS (ie) Je<e& kes oewjeve IeeS ieS (Ie) Debeflece Mes<e (iii) Meg SveheerS kee mebeueve (HeueeseEie eeJeOeeve kee ves) (ke) DeejbefYeke Mes<e (Ke) Je<e& kes oewjeve pees[s ieS (ie) Je<e& kes oewjeve IeeS ieS (Ie) Debeflece Mes<e (iv) SveheerS nsleg eeJeOeeve kee mebeueve (ceeveke DeeefmleeeW hej eeJeOeeve Deewj HeueeseEie eeJeOeeveeW kees es[kej) (ke) DeejbefYeke Mes<e (Ke) Je<e& kes oewjeve pees[s ieS (ie) DeefOekee eeJeOeeveeW kee jeF Dee@He / jeF yewke (Ie) Debeflece Mes<e

1981.38 1001.89 1140.35 1842.92

2092.14 1002.15 1112.91 1981.38

493.55 680.47 722.87 451.15

501.67 729.75 737.87 493.55

894.22 395.97 481.24 808.95

991.45 262.72 359.95 894.22

2.4.2 Details of Loan Assets subjected to Restructuring.

2.4.2 hegveie&"ve kes DeOeerve $e+Ce DeeefmleeeW keer peevekeejer ke) 26.08.2008. leke hegveie&"ve kes DeOeerve $e+Ce DeeefmleeeW keer peevekeejer
Item

a)

Details of Loan Assets subjected to Restructuring up to 26.08.2008. (. kejes[eW ceW / Rs. in Crores)

eeuet Je<e&
Current Year

efheuee Je<e&
Previous Year

efJeJejCe
(i)

kes DeOeerve $e+Ce DeeefmleeeW keer kegue jeefMe; - efpemeceW mes meer [er Deej kes lenle - efpemeceW mes Sme Sce F& kes lenle
(ii)

kes DeOeerve mQ[[& DeeefmleeeW keer jeefMe; - efpemeceW mes meer [er Deej kes lenle - efpemeceW mes Sme Sce F& kes lenle
(iii)

kes DeOeerve meye-mQ[[& DeeefmleeeW keer jeefMe; - efpemeceW mes meer [er Deej kes lenle - efpemeceW mes Sme Sce F& kes lenle
(iv)

kes DeOeerve mebosnemheo DeeefmleeeW keer jeefMe; - efpemeceW mes meer [er Deej kes lenle - efpemeceW mes Sme Sce F& kes lenle efhheCeer : [(i) = (ii)+(iii)+(iv)]

(i) Total amount of loan assets subjected to restructuring, rescheduling, renegotiation; - - Of which under CDR - - Of which under SME (ii) The amount of Standard assets subjected to restructuring, rescheduling, renegotiation; - - Of which under CDR - - Of which under SME (iii)The amount of Sub-Standard assets subjected to restructuring, rescheduling, renegotiation; - - Of which under CDR - - Of which under SME (iv)The amount of Doubtful assets subjected to restructuring, rescheduling, renegotiation; - - Of which under CDR - - Of which under SME Note: [(i) = (ii)+(iii)+(iv)]

237.35 160.98 31.18 233.35 160.98 27.18 4 4 -

357.28 208.93 33.01 356.90 208.81 32.75 -

0.38 0.12 0.26

98

Notes on Accounts

Ke)

27.08.2008. mes

hegveie&"ve kes DeOeerve $e+Ce DeeefmleeeW keer peevekeejer

b) Details of Loan Assets subjected to Restructuring from 27.08.2008.

(. kejes[es ceW / Rs. in Crores)

meer[erDeej keee&HeCeeueer
CDR Standard advances restructured No. of Borrowers Amount outstanding Mechanism 1 38.93 4.77 1 16.70 0.22

SmeSceF& $e+Ce Hegveie&"ve

SME Debt Restructuring 6590 792.29 11.80 186 16.05 0.14 2 0.97 0.05

Deve
Others

31272 1531.86 44.40 1985 23.66 1.13 41 0.74 0.04 33298 1556.26 45.57

Hegveie&ef"le efkeS $e+Ce kelee&DeeW keer mebKee ieS ceeveke yekeeee jeefMe Deefiece t (Gefele cetue keW keceer) Hegveie&ef"le efkeS $e+Ce kelee&DeeW keer mebKee ieS DeJeceeveke yekeeee jeefMe Deefiece t (Gefele cetue keW keceer) Hegveie&ef"le efkeS $e+Ce kelee&DeeW keer mebKee ieS mebefoiOe yekeeee jeefMe Deefiece t (Gefele cetue keW keceer) $e+Ce kelee&DeeW keer mebKee yekeeee jeefMe t (Gefele cetue keW keceer)

Sacrifice (diminution in the fair value) Sub standard No. of Borrowers advances Amount outstanding restructured Sacrifice (diminution in the fair value) Doubtful No. of Borrowers advances Amount outstanding restructured Sacrifice (diminution in the fair value) No. of Borrowers TOTAL Amount outstanding Sacrifice (diminution in the fair value)

2 55.63 4.99

6778 809.32 11.99

pees[

vees : Yeejleere efjpeJe& yeQke kes efveoxMeevegmeej yeQke ves . 1/- kejes[ mes kece SkemeHeespej Jeeues Hegveie&ef"le efkeS ieS KeeleeW kes mebyebOe ceW ceewpetoe cetue ceW t jeefMe kees keJej kejves kes efueS leoLe& DeeOeej Hej 5 % kee HeeJeOeeve efkeee nw. ie. Hegveie&ef"le KeeleeW kes mebyebOe ceW Deefleefjkele HekeerkejCe (efpemes HeyevOeve ves HeceeefCele efkeee nw uesefkeve uesKee Heefj#eeWkees ves meleeefHele veneR efkeee)

Note: In accordance with RBI guidelines, the Bank has made a provision of 5% on ad-hoc basis to cover the sacrifice amount in present value terms in respect of restructured accounts with exposure less than Rs. 1 crore. c) Additional disclosures regarding restructured accounts (as certified by the Management and not verified by the Auditors). Number Amount (in Rs.Crore ) 39406 3976.28

S.No. HekeerkejCe 1

Disclosures

31 ceee& 2009 Gve KeeleeW kes mebyebOe ceW pees 1 efmelecyej 2008 Application received up to March 31, 2009 for restructuring, in respect of accounts which leke ceeveke Les, Hegveie&"ve nsleg HeeHle ngS DeeJeosve He$e
were standard as on September 1, 2008.

31 ceee& 2009 leke Devegceesefole leLee keeee&efvJele efkeS ieS (1) kes Of (1), proposals approved and implemented HemleeJe Deewj Fme Hekeej es efJeMes<e efJeefveeeceke JeJenej kes efueS as on March 31, 2009 and thus became eligible for special regulatory treatment and Hee$e nes iees Deewj legueve He$e keer leejerKe kees ceeveke DeeefmleeeW
classified as standard assets as on the date of the balance sheet. Of (1), proposals approved and implemented as on March 31, 2009 but could not be upgraded to the standard category. Of (1), proposals under process/implementation which were standard as on March 31, 2009. Of (1), proposals under process/implementation which turned NPA as on March 31, 2009 but are expected to be classified as standard assets on full implementation of the package.

37859

2359.94

3.14

4 5

31 ceee& 2009 leke Devegceesefole leLee keeee&efvJele efkeS (1) kes HemleeJe efkevleg efpevnW ceeveke esCeer ces DeHeies[ veneR efkeee pee mekee Heefkeee/keeee&vJeeve kes DeOeerve (1) kes HemleeJe pees 31 ceee& 2009 kees ceeveke Les Heefkeee/keeee&vJeeve kes DeOeerve (1) kes HemleeJe pees 31 ceee& 2009 leke SveHeerS nes egkes nw leLeeefHe Gcceero nw efke Hewkespe kes efkeee pee mekelee nw.

1540 3

1551.80 61.40

99

uesKeeW hej efhheefCeeeb

2.4.3

eefleYeteflekejCe/hegveie&"ve kebheveer kees Deeefmle hegveie&"ve kes efueS yeseer ieeer efJeeere DeeefmleeeW keer peevekeejer
Item

2.4.3 Details of financial assets sold to Securitisation / Reconstruction Company for Asset Reconstruction
(. kejes[es ceW / Rs. in Crores)

ceoW
(i) KeeleeW keer mebKee (ii) Smemeer/Deejmeer kees yeses ieS KeeleeW keer

eeuet Je<e&
(i) No. of accounts (ii) Aggregate value (net of provisions) of accounts sold to SC / RC (iii) Aggregate consideration (iv) Additional consideration realized in respect of accounts transferred in earlier years (v) Aggregate gain / (loss) over net book value. *
Current Year * 34

efheuee Je<e&
Previous Year 103

41.86 41.86

167.86 269.79 101.93

kegue keercele (eeJeOeeveeW kee ves)

(iii) kegue eefleHeue (iv) DeejbefYeke Je<eeX ceW Debleefjle KeeleeW kes mebyebOe

ceW Jemetuee ieee Deefleefje eefleHeue

(v) kegue ueeYe/(neefve) Meg yener cetue hej

efJeeere heefjmebheefeeeW ceW keeheexjs mlej hej yes Keeles [eues ieS $e+Ce Yeer Meeefceue nQ

Financial assets also include the debts written off at corporate level.

2.4.4 Kejeroer ieF& / yeseer ieF& iewj efve<heeoke efJeeere DeeefmleeeW kee efJeJejCe

2.4.4 Details of non-performing financial assets purchased/sold A. Details of purchased: non-performing financial assets

ke.

Kejeroer ieF& iewj efve<heeoke efJeeere DeeefmleeeW kes efJeJejCe : efJeeere Je<e& kes oewjeve yeQke ves efkemeer Yeer iewj efve<heeoke Deeefmle keer Kejero veneR keer.

During The financial year bank has not purchased any non-performing assets. B. Details of non-performing financial assets sold:
(. kejes[es ceW / Rs. in Crores)

Ke.

yeseer ieF& iewj efve<heeoke efJeeere DeeefmleeeW kee efJeJejCe :

Particulars

efJeJejCe
1.

eeuet Je<e&
1. No. of accounts sold 2. Aggregate outstanding 3. Aggregate consideration received 2.4.5 Provisions on Standard Asset Item
Current Year 34

efheuee Je<e&
Previous Year 103

yeses ieS KeeleeW keer mebKee mekeue yekeeee 3. mekeue eefleHeue eeefhle 2.4.5 ceeveke DeeefmleeeW hej eeJeOeeve
2.

207.60 41.86

634.24 269.79

(. kejes[es ceW / Rs. in Crores)

ceoW DeejyeerDeeF& efveeceeW kes Devegmeej ceeveke DeeefmleeeW kes efueS eeJeOeeve ceeveke DeeefmleeeW kes efueS Deve Deekeefmceke eeJeOeeve
Provisions towards Standard Assets as per RBI norms Other contingent provision towards Standard Assets 2.5 Business Ratio

eeuet Je<e&
Current Year

efheuee Je<e&
Previous Year

591.26 122.95

504.71 68.03

2.5

JeeJemeeefeke Devegheele
Items

ceoW
(i) (ii) (iii) (iv) (v) (vi)

eeuet Je<e&
Current year

efheuee Je<e&
Previous Year

Deewmele keee&Meerue efveefOeeeW kes eefleMele kes leewj hej yeepe Deee Deewmele keee&Meerue efveefOeeeW kes eefleMele kes leewj hej iewj-yeepe Deee Deewmele keee&Meerue efveefOeeeW kes eefleMele kes leewj hej heefjeeueve ueeYe DeeefmleeeW hej eefleHeue eefle kece&eejer JeJemeee (pecee leLee Deefece) (. ueeKe ceW) eefle kece&eejer ueeYe (. ueeKe ceW)

(i) Interest Income as a percentage to Average Working Funds (ii) Non-interest income as a percentage to Average Working Funds (iii) Operating Profit as a percentage to Average Working Funds (iv) Return on Assets (v) Business (Deposits plus advances) per employee (Rs. in Lac) (vi) Profit per employee (Rs. in Lac)

7.78% 1.42% 2.22% 1.09% 914 6.05

7.63% 1.32% 1.96% 0.89% 710 3.94

100

Notes on Accounts

2.6

Deeefmle oselee eyebOeve DeeefmleeeW Deewj oseleeDeeW keer keg ceoeW kee heefjhekeJelee DeeOeej (HeyevOeve eje mecesefkele efkeee ieee Je uesKeeHejer#ekeeWeje Yejesmee peleeee ieee)
1 efove 2 mes 7 efove
1 day 2 to 7 days

2.6

Asset Liability Management Maturity pattern of certain items of assets and liabilities (As compiled by the Management and relied upon by the auditors) (. kejes[eW ceW / Rs. in Crores)

8 mes 14 efove
8 to 14 days

15 mes 28 29 efove mes 3 cenerveeW mes 6 cenerveeW mes 1 Je<e& mes 3 Je<e& mes 5 Je<e& mes efove 3 ceen peeoe leLee peeoe leLee peeoe peeoe DeefOeke 6 ceefnveeW 1 Je<e& leke leLee 3 Je<e& leLee 5 Je<e& Over 5 15 to 28 29 days to Over 6 leke leke leke days 3 months years
Over 3 months months & up to 1 & up to 6 year months 28900.31 43289.11 17330.94 17709.17 2424.92 5263.79 2476.45 210.03 7887.75 6860.76 Over 1 year & up to 3 years

kegue
Total

pecee jeefMeeeb Deefece efveJesMe GOeej efJeosMeer cege Deeefmleeeb efJeosMeer cege oseleeSb 2.7 2.7.1

Deposits Advances Investments Borrowings Foreign Currency assets Foreign Currency liabilities

4037.94 2482.18 222.81 32.91 2790.71

5819.08 1540.05 437.13 70.16 4439.87

5932.57 3009.64 151.68 138.49 1792.32

5952.98 22165.57 3403.21 22893.77 564.25 1802.39 205.98 699.32 3521.53 12488.53

37265.38 37010.03 8198.54 1792.17 6980.20

Over 3 years & up to 5 years 6506.50 32527.51 192396.95 15980.25 22626.66 143985.90 6523.73 26856.63 52445.87 8.46 2.12 5636.09 7867.23 3927.59 58556.49

6492.48

2655.83

2982.86

4275.34 10904.51

9220.03

7658.72

7137.39

6051.11

4151.20

61529.47

2.7

Lending to Sensitive Sector

mebJesoveMeerue #es$e kees $e+Ce efjeue Sms #es$e ceW Skemeheespej

Category

2.7.1 Exposure to Real Estate Sector (. kejes[eW ceW / Rs. in Crores)

esCeer ke) ele#e Skemeheespej DeeJeemeere yebOeke (i) DeeJeemeere mebheefe hej yebOeke eje hetCe& megjef#ele kepe& osvee pees kepe&oej kes mJeeefcelJe ceW nw/nesieer ee lees efkejeS hej nw. efpemeceW mes Jeefkeleiele DeeJeeme $e+Ce HeeLeefcekelee HeeHle #es$e kes DeefieceeW kes efueS Hee$e nw (ii) JeeefCeefpeke efjeue Sms JeeefCeefpeke efjeue Sms hej yebOeke eje megjef#ele kepe& (keeee&uee YeJeve, efjsue mhesme, ceuer-hehe&pe keceefMe&eue heefjmej, yengheefjJeej DeeJeemeere YeJeve, yeng-efkejeSoej keceefMe&eue heefjmej, Deeweesefieke ee esej neGme mhesme,nesue, peceerve, DeefOeenCe, efJekeeme leLee efvecee&Ce keee& Deeefo) ekeerkejCe ceW $e+CeeW ceW iewj efveefOe DeeOeeefjle (Sve SHe yeer) meerceeSb Meeefceue nQ. (iii) yebOeke ege eefleYetefleeeW ceW efveJesMe (Sce yeer Sme) leLee Deve eefleYeteflele ekeerkejCe ke. DeeJeemeere Ke. JeeefCeefpeke efjeue Sms Deele#e Skemeheespej efvecveHej efveefOe DeeOeeefjle leLee iewj efveefOe DeeOeeefjle SkemeHeespej i) vesMeveue neGeEmeie yeQke (SveSeyeer) leLee ii) DeeJeemeere efJeeere kebheefveeeb (SeSHemeer)
a) Direct exposure (i) Residential Mortgages Lending fully secured by mortgages on residential property that is or will be occupied by the borrower or that is rented; - of which individual housing loans eligible for inclusion in priority sector advances ii) Commercial Real Estate Lending secured by mortgages on commercial real estates (office buildings, retail space, multi-purpose commercial premises, multi-family residential buildings, multi-tenanted commercial premises, industrial or warehouse space, hotels, land acquisition, development and construction, etc.). Exposure includes non-fund based (NFB) limits. (iii) Investments in Mortgage Backed Securities (MBS) and other securitised exposures a. Residential, b. Commercial Real Estate.

eeuet Je<e
8276.17

efheuee Je<e&

Current Year Previous Year 6744.90

6662.86 3869.23

5861.64 4030.10

13.99 -

18.10 -

Ke)

b) Indirect Exposure Fund based and non-fund based exposures on i) National Housing Bank (NHB) ii) Housing Finance Companies (HFCs). 19.62 3633.07 19.92 2916.65

101

uesKeeW hej efhheefCeeeb

2.7.2 Hebtpeer yeepeej ceW $e+Ce peesefKece efJeJejCe

(i)

2.7.2 Exposure to Capital Market

(. kejes[eW ceW / Rs. in Crores)

Items

eeuet Je<e&
FefkeJeer Meseme&, HeefjJele&veere yeeb[eW, HeefjJele&veere ef[yeWejeW leLee FefkeJeer DeeOeeefjle cetegDeue Heb[ keer etefveeW ceW Ssmes Hele#e efveJesMees efpevekee keeHeexjs $e+Ce ceW Deueie mes efveJesMe veneR efkeee ieee nw.

efheuee Je<e&

(ii)

MesejeW (DeeF&HeerDees/F&SmeDeesHeer meefnle), HeefjJele&veere yeeb[eW, HeefjJele&veere ef[yeWejeW leLee FefkeJeer DeeOeeefjle ceteDeue Heb[ keer etefveeW ceW efveJesMe kes efueS MesejeW/ yeeb[eW/ef[yeWejeW DeLeJee Deve HeefleYetefleeeW DeLeJee HeesefueeeW kees keueerve $e+Ce keer SJepe ceW efoS ieS Deefiece
(iii)

efkevneR Deve Ssmes GsMeeW kes efueS $e+Ce peneb MesejeW DeLeJee HeefjJele&veere yeeb[eW DeLeJee HeefjJele&veere ef[yeWejeW DeLeJee FefkeJeer DeeOeeefjle ceteDeue Heb[ keer etefveeW

(iv)

efkevneR Deve Ssmes GsMeeW kes efueS $e+Ce, peesefke MesejeW keer mebHeeefMJe&ke yeeb[eW DeLeJee HeefjJele&veere ef[yeWejeW DeLeJee FefkeJeer DeeOeeefjle ceteDeue Heb[, peneb efke MesejeW/HeefjJele&veere yeeb[eW/HeefjJele&veere ef[yeWejeW/ FefkeJeer DeeOeeefjle ceteDeue Heb[eW kes DeueeJee ueer ieeer veneR kej Heeeer nw, keer meercee leke DeefYejef#ele Deefiece

(v)

me@ke yeeskejeW kees peceeveleer leLee iewj peceeveleer Deefiece leLee me@ke yeeskejeW leLee ceekex ceskej keer Deesj mes peejer ieejbefeeb keeHeexjs kees MesejeW/yeeb[eW/ef[yeWejeW DeLeJee Deve HeefleYetefleeeW DeLeJee DeHeves mebmeeOeveeW kes ye{ves keer HeleeMee ceW veeer kebHeefveeeW keer FefkeJeer kees Heesceesj kes DebMeoeve kes efueS efveyeb&Oe DeeOeej Hej mJeerke=le efkeS ieS Deefiece

(vi)

(vii) (viii)

mebYeeefJele FefkeJeer HeJeen/cegeW keer SJepe ceW kebHeefveeeW kees efyepe $e+Ce MesejeW DeLeJee HeefjJele&veere yeeb[eW/ef[yeWejeW DeLeJee (viii) Underwriting commitments taken up by banks in respect of primary issue of FefkeJeer DeeOeeefjle ceteDeue Heb[ kes HeeLeefceke cegeW shares or convertible bonds/debentures kes yeejs ceW yeQkeeW eje efueS neceeroejer kejej ceeefpe&ve ^sef[bie kes efueS me@ke yeeskejeW kees efJee Heoeve (ix) kejvee Hebpeerke=le leLee iewj Hebpeerke=le mebegkele Hetbpeer efveefOeeeW (x) kee SkemeHeespej FefkeJeer kes mecelegue ceevee peeesiee Deewj Fmelejn Hetbpeeriele ceekex SkemeHeespejkeer meerceeDeeW (Hele#e SJeb DeHele#e oesveeW) kes meeLe DevegHeeueve kes efueS efievee peeesiee. Hetbpeer yeepeej ceW kegue $e+Ce peesefKece
(i+ii+iii+iv+v+vi+vii+viii+ix+x)

Current year Previous Year (i) Direct Investments in equity shares, 875.11 769.26 convertible bonds, convertible debentures and units of equity oriented mutual funds the corpus of which is not exclusively invested in corporate debt 49.99 (ii) Advances against shares/bonds/ debentures or other securities or on clean basis to individuals for investment in shares (including IPOs/ ESOPs), convertible bonds, convertible debentures and units of equity oriented mutual funds; 2.94 (iii) Advances for any other purposes where shares or convertible bonds or convertible debentures or units of equity oriented mutual funds are taken as primary security; 6.01 (iv) Advances for any other purposes to the extent secured by the collateral security of shares or convertible bonds or convertible debentures or units of equity oriented mutual funds i.e. where the primary security other than shares/convertible bonds/convertible debentures/units of equity oriented mutual funds does not fully cover the advances (v) Secured and unsecured advances to 168.88 127.46 stockbrokers and guarantees issued on behalf of stockbrokers and market makers (vi) Loans sanctioned to corporates against security of shares/bonds/debentures or other securities or on clean basis for meeting promoters contribution to the equity of new companies in anticipation of raising resources (vii) Bridge loans to companies against expected equity flows/issues

(ix) (x)

or units of EOMF Financing to stockbrokers for margin trading

0.06 289.40

172.71

all exposures to venture capital funds (both registered and unregistered) will be deemed to be on par with equity and hence will be reckoned for compliance with the capital market exposure ceilings (both direct and indirect) Total Exposure to Capital Market (i+ii+iii+iv+v+vi+vii+viii+ix+x)

1342.40

1119.42

Hetbpeer yeepeej ceW Hees 1342.40 kejes[ kee $e+Ce peesefKece kegue $e+Ce peesefKece keer meercee jeefMe Hees 4554.88 kejes[ kes Yeerlej nw. (DeLee&le yeQke keer Meg ceeefueele Hees 11387.19 kejes[ kee 40%). Hetbpeer yeepeej ceW Hele#e $e+Ce peesefKece Hees 1167.51 kejes[ nw Deewj yeQke keer efveJeue ceeefueele (Hees 2277.44 kejes[) keer 20% nw.
The exposure to Capital Market Rs 1342.40 Crores is with in the limit of Rs 4554.88 Crores (i.e. 40% of Banks Net worth Rs 11387.19 Crores). The direct exposure to Capital Market is Rs1167.51 Crores and is with in 20% of the Banks Net Worth (Rs 2277.44 Crores).

102

Notes on Accounts

2.7.3

2.7.3 Risk Category wise Country Exposure

peesefKece esCeerJeej : osMeere SkemeHeespej

(. kejes[eW ceW / Rs. in Crores)

Risk Category

peesefKece esCeer

31 ceee& 2009 kees $e+Ce peesefKece (ves)

31 ceee& 2009kees eeJeOeeve

31 ceee& 2008 kees $e+Ce peesefKece (ves)

March 08 8412.56 4692.52 1180.66 316.68 1322.70 15.05 7.99 15948.16

31 ceee& 2008 kees eeJeOeeve

Exposure (net) as Provision held as at at 31st March 09 31st March 09 Insignificant Low Moderately Low Moderate Moderately High High Very High Total 10844.32 6581.10 752.84 47.78 1204.31 1.13 4.25 19435.73 6.47 8.28 14.75

Exposure Provision held as at 31st March 08 (net) as at 31st 4.44 4.44

De-cenlJehetCe& vetve ceOe vetve ceOe ceOe Ge Tbee DeefOeke Ge kegue

2.7.4 yeQke eje Skeue $e+Ceer meercee (SmepeerSue) mecetn $e+Ceer meercee (peeryeerSue)

2.7.4 Details of Single Borrower Limit (SGL) and Group Borrower Limit (GBL) exceeded by the bank. (. kejes[eW ceW / Rs. in Crores)

ceW DeeefOekee keer peevekeejer

kepe&oej kee veece

Name of the borrower

Skeue kepe&oej ekeerkejCe meercee

Single borrower exposure limit 2157.18

kegue efveOee&efjle meercee

Total Limit sanctioned 2532.58

31.3.2009 kees Mes<e

Balance as on 31.3.2009 1924.85

National Aviation Company

vesMeveue SefJeesMeve keb. Dee@]He Fbef[ee efue. of India Ltd

Cotton corporation of India 1797.65 2157.18 2.8 Miscellaneous 2516.72 2653.64 1722.19 1184.16

kee@ve kee@jHeesjsMeve Dee@He Fbef[ee efjueeevme Fv[efm^pe efue.

2.8

Reliance Industries Ltd

efJeefJeOe 2.8.1 Je<e& kes oewjeve Deeekej nsleg efkeS ieS eeJeOeeve keer jeefMe

2.8.1 Amount of Provisions made for Income-tax during the year

(. kejes[eW ceW / Rs. in Crores)

eeuet Je<e&
Current Year Provision for Income Tax 1150.34 34.60

efheuee Je<e&
Previous year 831.08 67.33

Deeekej nsleg eeJeOeeve IeeSb : efheues Je<e& mes mebyebefOele Deeekej kee efjJeme&ue Deeekej kes efueS ves eeJeOeeve
2.8.2 Yeejleere efj]peJe& yeQke eje ueieeS ieS ob[ kee ekeerkejCe Less reversal of Income Tax provisions relating to previous years Net Provision for Income Tax

1115.74

763.75

2.8.2 Disclosure of penalties imposed by RBI During the financial year 2008-09, the Bank has not been subjected to any penalty for contravention or non-compliance with any requirement of the Banking Regulation Act, 1949, or any rules or conditions specified by the Reserve Bank of India in accordance with the said Act.

efJeeere Je<e& 2008-09 kes oewjeve, yeQke hej DeefOeefveece kes efkemeer Yeer eeJeOeeveeW keer DeJensuevee DeLeJee yeQeEkeie efJeefveeceve DeefOeefveece, 1949 keer efkemeer Yeer Deve Dehes#ee keer iewj DeJensuevee hej Yeejleere efj]peJe& yeQke eje DeefOeefveece kes DeOeerve efJeMes<eerke=le efkemeer efveece DeLeJee efmLeefle kes efueS keesF& ob[ jeefMe veneR ueieeeer ieeer nw.

103

uesKeeW hej efhheefCeeeb

3.

SLR Investments
(. kejes[eW ceW / Rs. in Crores)

3.
efJeJejCe

SmeSueDeej efveJesMe
Particulars

31.3.2009 kees
As on 31.3.2009 Book Value Market Value

31.3.2008 kees
As on 31.3.2008 Book Value Market Value

yener cetue ceekex cetue

Government Securities mejkeejer eefleYetefleeeb SmeSueDeej (meerpeer, Smepeer Je eryeer) --SLR (CG, SG & TB) 40114.31 972.45 4. 40114.26 966.65

yener cetue ceekex cetue

33392.62 1165.05 33354.64 1152.61

Devegceesefole eefleYetefleeeb SmeSueDeej

Approved Securities -- SLR

Break up of Provisions and Contingencies The break-up of provisions and contingencies appearing in Profit & Loss Account is as under:
(. kejes[eW ceW / Rs. in Crores)

4. 4.1

eeJeOeeveeW Je DeekeefmcekeleeDeeW kee yeske Dehe ueeYe Je neefve Keeles ceW Deeves Jeeues eeJeOeeve Je DeekeefmcekeleeDeeW kee efJeJejCe Fme ekeej nw:
Particulars

4.1

eeuet Je<e&
Current Year 536.75

efheuee Je<e&
Previous Year 41.76

efJeJejCe efveJesMe hej cetueeme nsleg eeJeOeeve yesKeeles ceW [eues ieS DeMeesOe $e+CeeW/SveheerS kes efueS eeJeOeeve ceeveke DeeefmleeeW nsleg eeJeOeeve kej nsleg eeJeOeeve (DeemLeefiele kejeW, Deveg<ebieer ueeYe Deewj mebheoe kej meefnle) Deve eeJeOeeve leLee DeekeefmcekeleeSb hegveie&ef"le ceeveke Je DeJeceeveke KeeleeW ceW yeepe keer t nsleg eeJeOeeve keb^er efjmke eyebOeve nsleg eeJeOeeve kece&eejer keueeCe Kee& nsleg eeJeOeeve) Deve kegue

Provision for depreciation on investment Bad debts written off / Provision made towards NPA Provision for standard assets Provision for taxes (including deferred taxes, Fringe Benefit and Wealth tax) Other Provision and Contingencies Provision towards sacrifice of interest in restructured standard and sub-standard accounts Provision for Country Risk Management Provision for staff welfare expenses Others Total 4.2

268.60 75.47 1115.74

435.98 108.80 771.63

68.98

89.90 -6.87

15 -2.74 2077.80

15 136.83 1593.03

Floating Provisions Comprehensive Disclosures

(. kejes[eW ceW / Rs. in Crores)

4.2
efJeJejCe

DemLeeeer eeJeOeeve - Jeeheke ekeerkejCe

Particulars a. Opening balance in the floating provisions account b. The quantum of floating provisions made in the accounting year c. Amount of draw down made during the accounting year d. Closing balance in the floating provisions account.

eeuet Je<e&
Current Year 550.35

efheuee Je<e&
Previous Year 450.35

ke. DemLeeeer eeJeOeeve Keeles ceW DeLeMes<e Ke. uesKee Je<e& ceW efkeS ieS DemLeeeer eeJeOeeve keer cee$ee ie. uesKee Je<e& kes oewjeve efkeS ieS [^e [eGve keer jeefMe Ie. DemLeeeer eeJeOeeve Keeles ceW Fefle Mes<e

550.35

100 550.35

104

Notes on Accounts

4.3

Draw Down from Reserves:During the financial year 2008-09 there has been no draw down of the Reserves.

4.3

Deejef#ele efveefOeeeW ceW efiejeJe ([^e [eGve) efJeeere Je<e& 2008-09 kes oewjeve Deejef#ele efveefOeeeW ceW keesF& efiejeJe veneR DeeF&. efMekeeeleeW kee ekeerkejCe ke. eenke efMekeeele

5.

Disclosure of complaints A. Customer Complaints 97 3806 3828 75

(ke) (Ke) Je<e& kes oewjeve HeeHle efMekeeeleeW keer mebKee (ie) Je<e& kes oewjeve efveJeeefjle efMekeeeleeW keer mebKee (Ie) Je<e& kes Deble ceW uebefyele efMekeeeleeW keer mebKee

(a) (b) (c) (d)

No. of complaints pending at the beginning of the year No. of complaints received during the year No. of complaints redressed during the year No. of complaints pending at the end of the year B. Awards passed by the Banking Ombudsman

Ke. yeQefkebie ueeskeheeue eje efoS ieS efveCe&e (ke) Je<e& kes Meg ceW keeee&efvJele ve efkeS ieS efveCe&eeW keer mebKee
(Ke) Je<e& kes oewjeve yeQefkebie ueeskeHeeue eje heeefjle efveCe&eeW keer mebKee (ie) Je<e& kes oewjeve keeee&efvJele efveCe&eeW keer mebKee (Ie) Je<e& kes Deble ceW keeee&efvJele ve efkeS ieS efveCe&eeW keer mebKee
*

(a) (b) (c) (d)

No. of unimplemented Awards at the beginning of the year No. of Awards passed by Ombudsman during the year the Banking

1 1

No. of Awards implemented during the year No. of unimplemented Awards at the end of the year *

yeQefkebie ueeskeHeeue kes efveCe&e kes efKeueeHe mecegefele HeeefOekeejer kes Heeme DeHeerue oeej keer ieF& nw. *An appeal has been filed against the award of the Banking Ombudsman with the appropriate authority. 6. A. Status of Letters of Comfort Letters of Comfort (LOCs) issued during the Current Financial Year. During the current financial year Bank has issued only one Letter of Comfort to meet the requirements of the overseas / domestic regulators while seeking their approval for establishing subsidiaries / opening of branches. The Letter of Comfort was issued to Reserve Bank of New Zealand but no amount is quantified as the licence is yet to come. B. Cumulative position 31.03.2009. of LOCs outstanding on

6. egkeewleer DeeMJeemeve He$e

ke. eeuet efJeeere Je<e& kes oewjeve peejer egkeewleer DeeMJeemeve He$e (SueDeesmeer) yeQke eje eeuet efJeeere Je<e& kes oewjeve efJeosMeer/osMeere efveeb$ekeeW eje DeHeveer Deveg<ebefieeeW keer mLeeHevee / MeeKeeDeeW kees Keesueves mebyebOeer DeHeves Devegceesove HeeHle kejles mecee DeeJeMekeleeDeeW keer Hetefle& kes efueS Ske egkeewleer DeeMJeemeve He$e peejer veneR efkeee ieee nw. DeeMJeemeve He$e vetpeeruQ[ kes efjpeJe& yeQke kees peejer efkeee ieee Lee uesefkeve keesF& jeefMe efveOee&efjle keer ieeer Leer keeeWefke DeYeer ueeFmeWme Deevee yeekeer nw. Ke. 31.3.2009 kees yekeeee egkeewleer DeeMJeemeve He$eeW keer mebeeer efmLeefle yeQke kes Heeme efJeosMeer / osMeere efveeb$ekeeW eje Gve keer Deveg<ebefieeeW keer mLeeHevee/ MeeKeeDeeW kees Keesueves kes GsMe mebyebOeer GHejeskele (ke) kes DeueeJee keesF& Yeer egkeewleer DeeMJeemeve He$e peejer kejvee yeekeer veneR nw.

Bank has no outstanding Letter of Comfort issued in favour of the foreign / domestic regulators for the purpose of establishing subsidiaries / opening of branches except as mentioned in A above. B. Disclosure in terms of Accounting Standards (AS) issued by the Institute of Chartered Accountants of India: Net Profit or Loss for the Period, prior period items and changes in accounting policies (AS-5) 1.1 Exceptional items of Rs. 95.01 Crores (Net of Tax Rs. 62.70 Crores) represents profit on winding up of Bank of Baroda (Hongkong) Ltd, a subsidiary of the Bank. and Profit on sale of 51% holding in BOB AMC Ltd. Depreciation on revalued assets has been provided on written down value as per the Companies Act, 1956 and not on the basis of the remaining useful life of the assets.

Ke. Fbmeret Dee@He] ee&[& SkeeGbsdme Dee@He] Fbef[ee eje peejer SkeeGbefbie mQ[[& (SSme) kes mebyebOe ceW HekeerkejCe
1

1.

DeJeefOe kes efueS Meg ueeYe DeLeJee neefve, DeJeefOe HetJe& ceoW leLee SkeeGbefbie veerefleeeW ceW HeefjJele&ve (S.Sme.-5)

Meg) yeQke Dee@He ye[]ewoe (neBiekeeBie) efue. yeQke keer Ske Deveg<ebieer kebHeveer kees yebo kejves Hej leLee yee@ye Sce meer efue. keer 51% DebMeOeeefjlee keer efyekeer Hej ueeYe Hemlegle kejleer nQ.
1.2

1.2 Hegvecet&ueebefkele DeeefmleeeW Hej cetueeme kebHeveer DeefOeefveece 1956 kes Devegmeej yeeke=le cetue ve efke DeefmleeeW kes Mes<e GHeeesieer peerJevekeeue Hej Heoeve efkeee ieee nw.

105

uesKeeW hej efhheefCeeeb

2.

Employee Benefits (AS-15) Bank has adopted the Accounting Standard (AS-15) issued by ICAI and effective from 07.12.2006. The standard has been revised and notified on 17.12.2007. The provisions contained in AS-15 gives option to the bank, to charge the transitional liability as an expense in its Profit and Loss Account spread over a period of 5 years. Bank has exercised this option and accordingly made an incremental provision for employee benefits such as pension, gratuity, leave encashment and other retirement benefits to the extent of 1/5th of the total transitional liability commencing from financial year 2007-08, which is crystallized on Actuarial valuation at Rs. 901.00 Crores. Gratuity: The Bank pays gratuity to employees who retire or resign from Banks service. The Bank makes contributions to an in-house trust, towards funding this gratuity, payable every year. In accordance with the gratuity funds rules, actuarial valuation of gratuity liability is calculated based on certain assumptions regarding rate of interest, salary growth, mortality and staff attrition as per the projected unit credit actuarial method. The investment of the funds is made according to investment pattern prescribed by the Government of India. The gratuity payable is worked out by way of 3 different schemes and the entitlement is based on what is most beneficial to employees. Pension Bank of Baroda pays pension, a defined benefit and deferred retirement plan covering the employees who have opted for pension and also to the employees joining the banks service on or after 29.9.1995. The plan provides for a pension on a monthly basis to these employees on their cessation from Banks service based on the respective employees salary and years of qualifying service with the Bank. Employees covered under Bank of Baroda (Employees) Pension Regulations, 1995 are not eligible for Banks contribution to Provident Fund. Pension fund is managed by in-house trustees.

2.

kece&eejer ueeYe (S.Sme.-15) yeQke ves DeeF&meerSDeeF& eje peejer uesKee ceeveke (S.Sme.-15) kees DeHeveeee nw Deewj pees efke efoveebke 07.12.2006 mes ueeiet nQ . es ceeveke efoveebke 17.12.2007 kees mebMeesefOele SJeb DeefOemetefele efkeS ieS nQ . S.Sme.-15 ceW efoS ieS HeeJeOeeveeW kes lenle yeQke 5 Je<eeX mes DeefOeke keer DeJeefOe kes efueS DeHeves ueeYe SJeb neefve Keeles ceW HeejJenve oselee kees eepe& kejves kes efueS Ske Kee& kees DeHeveeee nw leLee leodvegmeej efJelleere Je<e& 2007-08 mes kece&eejer kes efnleeW ceW kegue Deblejere oseleeDeeW kes 1/5 Yeeie leke vekeoerkejCe leLee mesJeeefveJe=efe mebyebOeer ueeYe kes efueS Je=efMeerue HeeJeOeeve efkeS ieS nQ pees efke Hees 901.00 kejes[ kes JeemleefJeke cetue kes yejeyej nQ . ieseger : yeQke DeHeves Ssmes kece&eeefjeeW kees, pees efke yeQke mesJee mes mesJeeefveJe=e DeLeJee mesJeeleeie kejles nQ, ieeger kee Yegieleeve kejlee nw. yeQke Heleske Je<e& Yegieleeve s keer peeves Jeeueer Fme ieeger kees Skeef$ele kejves keer SJepe ceW Ske Deebleefjke veeme s oj, Jesleve Je=e, ce=leg oj Deewj Heefjueef#ele FkeeF& $e+Ce JeemleefJeke Heefle kes f Devegmeej me@He keer keceer kes yeejs ceW keg Ske HeefjkeuHeveeDeeW kes DeeOeej Hej ieeger oselee keer JeemleefJeke cetue keer ieCevee keer peeleer nw . s efveefOeeeW kee efveJesMe Yeejle mejkeej eje efveOee&efjle efveJesMe Heefle kes Devegmeej efkeee peelee nw . Yegieleeve keer peeves Jeeueer ieseger keer ieCevee 3 efJeefYevve eespeveeDeeW kes lejerkes mes keer peeleer nw leLee Fmekes efueS kece&eeefjeeW kes efueS Hee$elee pees DeefOeke ueeYekeejer nes, Gmekes DeeOeej Hej keer peeleer nw. HeWMeve : yeQke Dee@He] ye[ewoe DeHeves Ssmes kece&eeefjeeW, efpevneWves HeWMeve kee efJekeuHe egvee nw Deewj Ssmes kece&eeefjeeW kees, efpevneWves 29.09.1995 kees DeLeJee Gmekes Heeeled yeQke mesJee ceW keee&Yeej mebYeeuee nw, GvnW efJeefveefo&< ueeYe leLee DeemLeefiele mesJee efveJe=efe eespevee kes Debleie&le HeWMeve kee Yegieleeve kejlee nw . en eespevee kece&eeefjeeW kees ceeefmeke DeeOeej Hej Gve kece&eeefjeeW kes Jesleve leLee yeQke ceW Gvekeer mesJeekeeue keer DeJeefOe Je<eeX kes DeeOeej Hej Gvekes yeQke kees es[ves kes Heeeled HeWMeve Heoeve kejves keer megefJeOee GHeueyOe kejelee nw . yeQke Dee@He] ye[ewoe (kece&eejer) HeWMeve efJeefveece, 1995 kes Debleie&le Meeefceue kece&eejer YeefJe<e efveefOe ceW yeQke kes DebMeoeve kes efueS Hee$e veneR nw. HeWMeve efveefOe kee HeyebOeve yeQke kes Debleefjce veeefmeeeW eje efkeee peelee nw. YeefJe<e efveefOe : yeQke Dee@He] ye[ewoe kees DeHeves kece&eeefjeeW kes mesJee efveJe=efe ueeYeeW kes Ske Yeeie kee HeyebOeve Debleefjce veeefmeeeW eje efkeee peelee nw. Heleske kece&eejer eje Gmekes cetue Jesleve kee 10% DebMeoeve efkeee peelee nw Deewj yeQke Dee@He] ye[ewoe Gme jeefMe kes yejeyej jeefMe Fme efveefOe ceW DebMeoeve kejlee nw. Fme efveefOe kee efveJesMe Yeejle mejkeej eje efveOee&efjle efveJesMe Heefle kes Devegmeej efkeee peelee nw. ger kee vekeoerkejCe : keesF& Yeer kece&eejer DeHeveer DeefOeJeef<e&lee /mJewefke mesJee efveJe=efe /ce=leg keer leejerKe Hej Gmekes Keeles ceW pecee ngF& gefeeW ceW mes DeefOekelece 240 efoveeW leke keer Deefpe&le gefeeW kee vekeoerkejCe HeeHle kejves kee nkeoej nw.
Provident Fund Bank of Baroda is statutorily required to maintain a provident fund as a part of its retirement benefits to its employees. This fund is managed by in-house trustees. Each employee contributes 10% of his or her basic salary and Bank of Baroda contributes an equal amount to the fund. The investment of the fund is made according to investment pattern prescribed by the Government of India. Leave Encashment An employee is entitled to encash privilege leave standing to his/her credit subject to a maximum of 240 days on the date of superannuation/Voluntary Retirement/death.

106

Notes on Accounts

leLeeefHe, mesJee leeie keer efmLeefle ceW, kece&eejer pecee Deefpe&le gefeeW ceW DeefOekelece 120 efoveeW leke gefeeW keer 50% jeefMe kee vekeoerkejCe HeeHle kejves kee nkeoej nw . Deefleefjkele mesJeeefveJe=efe ueeYe Deefleefjkele mesJee efveJe=efe ueeYe kes efueS eespevee kes Debleie&le keesF& DeefOekeejer DeHeveer mesJeeefveJe=efe /mJewefke mesJee efveJe=efe /ce=leg Hej 6 cenerveeW keer yeMelex efke Gmeves yeQke ceW 25 Je<eeX keer mesJee Hetjer kej ueer nes . "erke Fmeer lejn, DeJee[& me@He meome mesJee efveJe=efe /mJewefke mesJee efveJe=efe /ce=leg nesves Hej Deefleefjkele mesJee efveJe=efe ueeYe Heeves kes efueS nkeoej neWies yeMelex Gmeves yeQke mesJee ceW 30 Je<eeX keer mesJee Hetjer kej ueer nes . leLeeefHe, yeKee&mleieer, mesJee cegefkele, mesJee meceeefHle, DeefveJeee& mesJee efveJe=efe Deewj mesJee leeie keer efmLeefle ceW mesJee keeue kes Je<eeX keer mebKee kees Oeeve ceW jKeles ngS Deefleefjkele mesJee efveJe=efe ueeYe kee Yegieleeve veneR efkeee peeSiee.. cetue yeerceebefkeke DeJeOeejCeeSb (Jewspe Deewmele kes He ceW DeefYeJekele)

However, on resignation, an employee is entitled to get encashment 50% of the privilege leave standing to the credit subject to a maximum of 120 days. Additional Retirement Benefit The scheme for additional retirement benefit provides that an officer on his Retirement/ Voluntary retirement/ death shall be eligible for payment of 6 months emoluments as additional retirement benefit, provided he had completed 25 years of service in the Bank. In the same manner, award staff member on Retirement / Voluntary Retirement / Death shall be eligible for additional retirement benefit, provided he had completed 30- years of service in Bank. However, in case of dismissal, discharge, termination, compulsory retirement and resignation additional retirement benefit shall not be payable, irrespective of any number of years of service. Principal Actuarial Assumptions [Expressed as Weighted Averages]

HeWMeve
PENSION

eespevee kee Hekeej TYPE OF PLAN DeJekeeMe vekeoerkejCe ieseger

LEAVE ENCASHMENT 7.50% GRATUITY

Deefle. mesJee ueeYe

ARB

Discount rate

7.50% 4.00% 1.00% 8.00%

7.50% 8.00% 1.00% 8.00%

7.50% 8.00% 1.00% 0

ef[mkeeGb oj Jesleve Je=ef oj eme oj eespeveeiele DeeefmleeeW Hej mebYeeefJele efjve& js

Salary Escalation Rate Attrition Rate Expected Rate of Return on plan Assets

8.00% 1.00% 0

oseleeDeeW kes HeejbYe Deewj meceeefHle Hej Mes<e kee meceeOeeve (Hees kejes[eW ceW)
Reconciliation of Opening and Closing Balance of Liability
(. kejes[eW ceW / Rs. in Crores)

HeWMeve
PENSION

eespevee kee Hekeej TYPE OF PLAN DeJekeeMe vekeoerkejCe ieseger

LEAVE ENCASHMENT GRATUITY

Deefle. mesJee ueeYe

ARB

a) PVO as at 1/4/2008

2079.00 160.74 171.80 -139.40 396.05 2668.19

395.00 30.88 21.95 -18.12 -11.71 418.00

840.00 65.21 32.73 -49.74 15.37 903.57

375.00 29.48 18.85 -13.03 4.70 415.00

ke) Ke) ie) Ie) *) e)

1/4/2008 kees HeerJeerDees

b) Interest Cost

yeepe keer ueeiele

c ) Current Service Cost

eeuet mesJee ueeiele

d) Benefits Paid

Heoe ueeYe oeefelJe Hej yeerceebefkeke neefve / ueeYe (-) 31.03.2009 kees HeerJeerDees
e) Actuarial loss/gain(-) on obligation f) PVO as at 31.03.2009

107

uesKeeW hej efhheefCeeeb

eespevee DeeefmleeeW kes Gefele cetue kes HeejbefYeke SJeb Debeflece Mes<e kee meceeOeeve
Reconciliation of Opening & Closing Balance of Fair Value of Plan Assets
(. kejes[eW ceW / Rs. in Crores)

PENSION

eespevee kee Hekeej TYPE OF PLAN HeWMeve DeJekeeMe vekeoerkejCe ieseger LEAVE
ENCASHMENT 0 GRATUITY

Deefle. mesJee ueeYe

ARB

ke) 1/4/2008 kees eespeveeiele DeeefmleeeW kee Gefele cetue Ke) eespeveeiele DeeefmleeeW kee mebYeeefJele efjve& ie) DebMeoeve Ie) Heoe ueeYe *) yeerceebefkeke ueeYe / (-) neefve e) 31.03.2009 kees eespeveeiele DeeefmleeeW kee Gefele cetue

a) Fair Value of plan assets as on 1/4/2008 b) Expected Return on Plan Assets c) d) e) f) Contributions Benefits Paid Actuarial gain/(-)loss Fair Value of Plan Assets as on 31.03.2009

2032.95 175.96 472.57 -139.40 87.11 2629.19

693.43 56.53 76.20 -49.74 14.35 790.77

0 0 13.03 -13.03 0 0

0 18.12 -18.12 0 0

legueve-He$e ceW ceeve jeefMe

Amount Recognised in the Balance Sheet
(. kejes[eW ceW / Rs. in Crores)

HeWMeve
PENSION

Hueeve kee Hekeej TYPE OF PLAN DeJekeeMe vekeoerkejCe ieseger

LEAVE ENCASHMENT 418.00 GRATUITY

Deefle. mesJee ueeYe ARB

415.00 0 415.00 -136.20 278.80

a) PV of obligation

2668.19 2629.19 39.00 -39.00 0

903.57 790.77 112.80 -112.80 0

ke) Ke) ie) Ie) *)

oeefelJe kee HeerJeer eespeveeiele DeeefmleeeW kee Gefele cetue Devlej iewj ceeve uesveosve oselee yeerSme ceW ceeve oselee

b) Fair value of plan assets c) Difference d) Unrecognised transitional liability e) Liability Recognised in the BS

0 418.00 -117.60 300.40

ueeYe-neefve Keeles ceW ceeve jeefMe

Amount Recognised in the Profit And Loss Account
(. kejes[eW ceW / Rs. in Crores)

HeWMeve
PENSION

eespevee kee Hekeej TYPE OF PLAN DeJekeeMe vekeoerkejCe ieseger

LEAVE ENCASHMENT 21.95 30.88 0 GRATUITY

Deefle. mesJee ueeYe

ARB

ke) eeuet mesJee ueeiele Ke) yeepe ueeiele ie) eespeveeiele Deeefmle Hej mebYeeefJele efjve& Ie) Meg yeerceebefkeke neefve/ueeYe (-) *) Je<e& oewjeve ceeveer ieeeer mebeceCeMeerue yeerceebefkeke oselee ueeYe neefve ceW ceeve Kee&

a) Current Service Cost b) Interest Cost c ) Expected Return on Plan Assets d)Net Actuarial Loss/ gain(-) e) Transitional liability recognised in the year Expenses Recognised in Profit and Loss Account

171.80 160.74 -175.96 308.94 13.00 478.52

32.73 65.21 -56.53 1.02 37.60 80.03

18.85 29.48 0 4.70 45.40 98.43

-11.71 39.20 80.32

108

Notes on Accounts

3.

mesieceW efjHeesefie (S.Sme.-17) : Yeeie - ke : efyepevesme mesieceW

3.

Segment Reporting (AS-17) Part A Business Segments

(. kejes[eW ceW / Rs. in Crores)

efyepevesme mesieceW

Business Segments

keeHeexjs/nesuemesue yeQefkebie ^spejer

Treasury Current Yr Corporate / Wholesale Banking

Deve yeQefkebie Heefjeeueve efjsue yeQefkebie

Retail Banking Other Banking Operations

kegue
Total Prev Year 13864.51 3401.52 1194.37 2207.15 771.63

Prev Year Current Yr 3576.98 788.79 5247.37 845.23

Prev Year Current Yr 4156.59 175.14 5383.10 1406.50

Prev Year Current Yr 3960.40 937.37 2776.48 1769.39

Prev Year Current Yr 2170.54 1500.22 17849.24 5040.69 1697.74 3342.95 1115.75

eeuet Je<e& efheuee Je<e& jepemJe HeefjCeece Deveeyebefle Kee& Heefjeeueveiele ueeYe Deeekej efJeefMe< ueeYe /neefve Meg ueeYe Deve metevee mesieceW Deeefmleeeb Deveeyebefle Deeefmleeeb kegue Deeefmleeeb mesieceW oseleeSb Deveeyebefle oseleeSb kegue oseleeSb
Revenue Result Unallocated Expense Operating Profit Income taxes Extraordinary Profit/loss Net Profit Other Information Segment Assets Unallocated Assets Total Assets Segment Liabilities Unallocated Liabilities Total Liabilities 58021.30 53444.07 61492.10 56945.78 4442.29 1019.57

eeuet Je<e& efheuee Je<e&

eeuet Je<e& efheuee Je<e&

eeuet Je<e& efheuee Je<e&

eeuet Je<e& efheuee Je<e&

2227.20

1435.52

57141.55

52061.82

49647.20

32441.49

56217.01

35572.60 224497.86 177021.69 2908.87 2577.83

227406.73 179599.52 53916.29 48860.44 46844.97 30446.60 53043.95 33385.18 211826.51 166136.29 15580.22 13463.23

227406.73 179599.52

Part B Geographic Segments

Yeeie - Ke : Yeewieesefueke mesieceW :

(. kejes[eW ceW / Rs. in Crores)

Segments

mesieceW
Particulars

Iejsuet Domestic meceehle Je<e& Year Ended

Debleje&^ere International meceehle Je<e& Year Ended

kegue Total meceehle Je<e& Year Ended

efJeJejCe

31.03.09 Revenue 15465.20 177106.26

31.03.08 11895.14 142520.03

31.03.09 2384.04 50300.47

31.03.08 1969.37 37079.49

31.03.09 17849.24 227406.73

31.03.08 13864.51 179599.52

jepemJe Deeefmleeeb

Assets

Notes on Segment Reporting:

mesieceW efjHeesefie Hej efHHeCeer :

1.

1.

}sKee ceevekeeW keer DevegHeeuevee ceW Yeejleere efjpeJe& yeQke kes ceeie&eveoxMeeW f kes Devegmeej yeQke ves Yeejleere efjpeJe& yeQke eje peejer mesieceW efjHeeseie f Hej S.Sme.-17 kes meeLe DevegHeeuevee kes GsMe kes efueS ^pejer s heefjeeueve Leeske, Kegoje Deewj Deve yeQekebie HeefjeeueveeW kees HeeLeefceke f

As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted Treasury Operations, Wholesale, Retail and Other Banking Operations as Primary business segments and Domestic and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.

109

uesKeeW hej efhheefCeeeb

2.

2.

mesieceW HeefjCeece lee kejles mecee, yeQke ves efveefOe DeblejCe cetue efveOee&jCe HeCeeueer kees DeHeveeee nw.
3.

In determining the segment results, the funds transfer price mechanism followed by the bank has been used. Segment revenue represents revenue from external customers. Capital employed for each segment has been allocated proportionate to the assets of the segment.

3.

mesieceW jepemJe yeee ieenkeeW mes HeeHle jepemJe kee HeefleefveefOelJe kejlee nw.

4.

4.

Heleske mesieceW kes efueS ueieeeer ieeer Hebtpeer mesieceW keer DeeefmleeeW kees DevegHeeefleke DeeOeej Hej Deeyebefle kej oer ieeer nw .
4.

Related Party Disclosures (AS - 18) Names of the Related Parties and their relationship with the Bank:

4. mebyebefOele heeea ekeerkejCe (SSme-18) mebyebefOele heeef&eeW kes veece SJeb yeQke kes meeLe Gvekes mebyebOe ke) Deveg<ebefieeeb : yee@ye ke@efheue ceekex efueefces[ yee@ye kee[&dme efueefces[ vewveerleeue yeQke efueefces[ yeQke Dee@He ye[ewoe (yeeslmeJeevee) efueefces[ yeQke Dee@He ye[ewoe (kesefveee) efueefces[ yeQke Dee@He ye[ewoe (egieeb[e) efueefces[ yeQke Dee@He ye[ewoe (nebiekeebie) efueefces[ yeQke Dee@He ye[ewoe (iegeevee) DeeF&Svemeer. yeQke Dee@He ye[ewoe (etkes) efueefces[ yeQke Dee@He ye[ewoe (lebpeeefveee) efueefces[ ye[ewoe ke@efheue ceekexdme (etieeb[e) efueefces[ (yeQke Dee@He ye[ewoe egieeb[e efueefces[ keer Deveg<ebieer) xii) yee@ye ef$eefveoeo Je esyeeiees efue. xiii) yeQke Dee@He ye[ewoe (Ieevee) efue. xiv) ye[ewoe (vetpeerueQ[) efue. (Ke) meneesieer : i) ye[ewoe Gej eosMe eeceerCe yeQke ii) vewveerleeue Deucees[e #es$eere eeceerCe yeQke iii) ye[ewoe jepemLeeve eeceerCe yeQke iv) ye[ewoe iegpejele eeceerCe yeQke
v) i) ii) iii) iv) v) vi) vii) viii) ix) x) xi) (a)

Subsidiaries: i) ii) iii) iv) v) vi) vii) viii) ix) x) xi) xii) xiii) BOB Capital Markets Limited BOB Cards Limited The Nainital Bank Limited Bank of Baroda (Botswana) Limited Bank of Baroda (Kenya) Limited Bank of Baroda (Uganda) Limited Bank of Baroda (Hong Kong) Limited Bank of Baroda (Guyana) Inc. Bank of Baroda (UK) Limited Bank of Baroda (Tanzania) Limited Baroda Capital Markets (Uganda) Limited. (Subsidiary of Bank of Baroda Uganda Ltd.) BOB Trinidad & Tobago Ltd. Bank of Baroda (Ghana) Ltd.

xiv) Baroda (New Zealand) Ltd. (b) Associates: i) ii) iii) iv) v) vi) vii) viii) ix) (c) Baroda Uttar Pradesh Gramin Bank Nainital-Almora Kshetriya Gramin Bank Baroda Rajasthan Gramin Bank Baroda Gujarat Gramin Bank Jhabua-Dhar Kshetriya Gramin Bank Indo Zambia Bank Limited UTI Asset Management Company Ltd. UTI Trustee Company Pvt. Limited Baroda Pioneer Asset Management Co. Ltd.

Fb[es peebefyeee yeQke efueefces[ vii) eterDeeF& Smes ceQvespecesv kebheveer ee. efue. viii) eterDeeF& ^mer kebheveer ee. efue. ix) ye[ewoe Heeeesefveej Smes cesvespeceW keb. efue. (ie) ecegKe eyebOeve DeefOekeejer : i) eer. Sce. [er ceuee, DeOe#e SJeb eyebOe efveosMeke (efoveebke 07.05.2008 mes) ii) [e@. Deefveue kes. Keb[sueJeeue, (YetleHetJe& DeOe#e SJeb eyebOe efveosMeke) i) eer Jeer. mevleevejeceve, keee&keejer efveosMeke ii) eer meleerMe ev ieghlee, keee&keejer efveosMeke (efoveebke 05.11.2008 leke) iii) eer jepeerJe kegceej ye#eer, keee&keejer efveosMeke (efoveebke 06.11.2008 mes) ecegKe eyebOeve DeefOekeejereeW kees 38.12 ueeKe hees, kegue heeefjeefceke Yegieleeve (efheues Je<e& 17.60 ueeKe hees)

vi)

Key Management Personnel: i) ii) i) ii) iii) Mr. M.D. Mallya, CMD (From 07.05.2008 onwards) Dr. A.K.Khandelwal (Ex-CMD) Mr.V.Santhanaraman, ED Mr. Satish C. Gupta, ED (Upto 05.11.2008) Mr. Rajiv Kumar Bakshi, ED (From 06.11.2008 onwards)

Aggregate Remuneration paid to Key Management Personnel Rs. 38.12 lac (Previous year Rs. 17.60 lac)

110

Notes on Accounts

Related Party Disclosures-

mebyebefOele heeea ekeerkejCe:(. kejes[eW ceW / Rs. in Crores)

ceo /mebyebefOele Heeea :

Items / Related Party

Deveg<ebefieeeb
Subsidiaries

meneesieer mebegkele Gece

Associates/ Joint Ventures

ecegKe eyebOeve DeefOekeejer

ecegKe eyebOeve DeefOekeejer kes efjMlesoej pees[

Total

Key Relatives Management of Key Personnel Management Personnel

GOeej : 31.03.2009 kees yekeeee Je<e& kes oewjeve DeefOekelece yekeeee pecee : 31.03.2009 kees yekeeee Je<e& kes oewjeve DeefOekelece yekeeee pecee jeefMeeeW kee mLeeheve 31.03.2009 kees yekeeee Je<e& kes oewjeve DeefOekelece yekeeee Deefiece 31.03.2009 kees yekeeee Je<e& kes oewjeve DeefOekelece yekeeee

Borrowings : Outstanding as on 31.3.09 Maximum Outstanding during the year Deposit Outstanding as on 31.3.09 Maximum Outstanding during the year

419.96 531.17

2800.71 2834.71

3220.67 3371.88

Placement of Deposits Outstanding as on 31.3.09 Maximum Outstanding during the year Advances Outstanding as on 31.3.09 Maximum Outstanding during the year Investments efveJesMe 31.03.2009 kees yekeeee Outstanding as on 31.3.09 Je<e& kes oewjeve DeefOekelece yekeeee Maximum Outstanding during the year Non-funded commitments iewj efveefOe HeefleyeleeSb 31.03.2009 kees yekeeee Outstanding as on 31.3.09 Maximum Outstanding during the year Je<e& kes oewjeve DeefOekelece yekeeee HeeHe ueerefpebie / SeHeer HeyebOe JeJemLeeSb Leasing/HP arrangements availed 31.03.2009 kees yekeeee Outstanding as on 31.3.09 Maximum Outstanding during the year Je<e& kes oewjeve DeefOekelece yekeeee ueerefpebie /GHeueyOe SeHeer HeyebOe JeJemLeeSb Leasing/HP arrangements provided 31.03.2009 kees yekeeee Outstanding as on 31.3.09 Maximum Outstanding during the year Je<e& kes oewjeve DeefOekelece yekeeee Purchase of fixed assets Deeue DeeefmleeeW keer Kejero Sale of fixed Assets Deeue DeeefmleeeW keer efyeeer Interest paid Heoe yeepe Interest received HeeHle yeepe Rendering of services mesJeeSb Heoeve kejvee Receiving of services mesJeeDeeW keer HeeefHle Management contracts HeyebOeve mebefJeoeSb 5.

59.81 150.33 693.02 693.02 6.32 6.37

134.73 388.18 326.63 326.63 0.05 0.05

194.54 538.51 1019.65 1019.65 6.37 6.42

0.04 23.34 4.83 3.52 15.93 3.50

170.76 15.03 0.05 0.01

0.05

0.04 194.10 19.86 3.62 15.94 3.50

Earning Per Share (AS-20)

5. eefle Mesej Depe&ve (SSme-20) efJeJejCe FefkeJeer Mesej OeejkeeW nsleg kej kes yeeo Meg ueeYe (. kejes[ ceW) FefkeJeer Meseme& keer Jess[ Deewmele mebKee eefle Mesej yegefveeeoer Je [eeuets[ Depe&ve eefle FefkeJeer Mesej Debefkele keercele
Particulars Net Profit after tax available for equity shareholders (Rs. in Crores) Weighted Average Number of Equity shares Basic & Diluted earning per share Nominal value per equity share

eeuet Je<e&
Current Year

efheuee Je<e&
Previous Year

2227.20 364266500 61.14 Rs. 10.00

1435.52 364266400 39.41 Rs. 10.00

111

uesKeeW hej efhheefCeeeb

6.

6.

Deee kej keer ieCevee (SSme-22) DeeF&meerSDeeF& eje peejer Deee Hej kej keer ieCevee nsleg SSme-22 keer Deeefmleeeb leLee oseleeSb efveOee&efjle keer ieF& nQ. 31 ceee&, 2009 kees DeemLeefiele kej kee ves yewueWme .43.69 kejes[ Lee (efHeues meeue .56.22 kejes[ kee [ererS) efpemeceW efvecveebefkele Meeefceue nw.

Accounting for Taxes on Income (AS-22) The Bank has complied with the requirements of AS 22 on Accounting for Taxes on Income issued by ICAI and accordingly deferred tax assets and liabilities are recognized. The net balance of deferred tax assets as on 31st March 2009 amounting to Rs. 43.69 Crores (Previous Year DTA of Rs.56.22 Crores) consists of the following: (. kejes[eW ceW / Rs. in Crores) 31.03.2009 31.03.2008

Deeefmleeeb Deeue DeeefmleeeW hej Deeekej keevetve kes lenle yegke cetueeme leLee cetueeme ceW Deblej Deeekej DeefOeefveece 1961 keer Oeeje 36(1)(viii) kes lenle keewleer mebosnemheo kepe& Je Deefece (efJeosMeer) nsleg eeJeOeeve Deeekej DeefOeefveece keer Oeeje 40(a)(ia) iewj Devegceve jeefMe DeJekeeMe vekeoerkejCe kes efueS eeJeOeeve pees[ Meg DeemLeefiele kej Deeefmleeeb
Difference between book depreciation and Depreciation under Income Tax Act on fixed assets Deduction under section 36(1)(viii) of the Income-tax Act, 1961 Provision for doubtful debts and advances (foreign) Amount Disallowable U/S 40(a)(ia) of the IT Act Provision for leave encashment Total: Net Deferred Tax Asset

oselee

Deeefmle

oselee

Asset Liability 47.78

Asset Liability 51.77

74.78 51.00 16.86 36.46 -

98.39 - 71.53 166.25 122.56 107.99 43.69 - 56.22

51.77 -

31 ceee& 2009 kees meceehle Je<e& kes efueS . 12.53 kejes[ keer ves [sHe[& kej DeeefmleeeW ceW Je=ef (efheues Je<e& . 3.12 kejes[ keer Je=ef) kees ueeYe Je neefve Keeles ceW efveOee&efjle efkeee ieee nw. 7. Heefjeeueve yebo kejvee (SSme 24) efJeeere Je<e& 2008-09 kes oewjeve yeQke eje DeHeveer efkemeer Yeer MeeKee kees yebo leLee DeeefmleeeW keer Jemetueer keer pee mekeer nw Deewj mebHetCe& yeQke mlej Hej DeHeves Heefjeeueve ceW efkemeer keee&Jeener keer meceeefHle, efpememes GHejeskele HeYeeJe He[s, mebyebOeer efveCe&e veneR efueee ieee nw.
8. 7.

Decrease in net Deferred Tax Assets of Rs.12.53 Crores for the year ended 31st March 2009 (Previous year increase of Rs. 3.12 Crores) has been recognized in the Profit & Loss Account. Discontinuing operations (AS24) During the financial year 2008-09 the bank has not discontinued the operations of any of its branches, which resulted in shedding of liability and realization of the assets and no decision has been finalized to discontinue an operation in its entirety, which will have the above effect. Impairment of Assets (AS-28) In view of the absence of indication of material impairment within the meaning of clause 5 to clause 13 of Accounting Standard-28 Impairment of Assets, no impairment of fixed assets is required for in respect of current financial year. 9. Provisions, Contingent Liabilities and Contingent Assets (AS-29) 9.1 Movement of provisions for Liabilities (excluding provisions for others)
(. kejes[eW ceW / Rs. in Crores)

8.

DeeefmleeeW kee FbhesejceW (SSme-28) uesKee ceeveke-28 DeeefmleeeW kee FbhesejceW kees Keb[ 5 mes Keb[ 13 kes Debleie&le eeuet efJeeere Je<e& kes oewjeve Deeue DeeefmleeeW kes FbhesejceW keer DeeJeMekelee veneR nw. eeJeOeeve, Deekeefmceke oseleeSb leLee Deekeefmceke Deeefmleeeb (SSme-29) 9.1 oseleeDeeW kes efueS eeJeOeeveeW kee mebeueve (DeveeW kes efueS eeJeOeeveeW kees es[kej)
Particulars

9.

efJeJejCe
Balance as on 1st April 2008

cegkeoceW / DeekeefmcekeleeSb
Legal Cases / contingencies 13.43 13.43

1 Deewue 2008 kees Mes<e Je<e& kes oewjeve eoe 31 ceee& 2009 kees Mes<e DeeGHeuees/DeefveefMeleleeSb kee mecee

Provided during the year Balance as at 31st March 2009 Timing of outflow / uncertainties

mesueceW / efemueeFpesMeve hej DeeGHeuees

Outflow on settlement/crystallization The Bank has provided for claims against the bank which have not been acknowledged as debt as per a policy framed by it.

yeQke ves Ske veerefle efveOee&efjle keer nw efpemekes Devegmeej yeQke kes efJe

112

Notes on Accounts

9.2

Contingent Liabilities: Such liabilities as mentioned at Serial No (I) to (VI) of 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. No reimbursement is expected in such cases.

9.2 Deekeefmceke oseleeSb : legueveHe$e kes Mes[detue 12 keer e meb. (I) mes (VI) ceW G=le Ssmeer oseleeSb Deoeuele kes efveCe&e, Hebe Hewmeues, Deoeuele kes yeee efvemleejCe, DeHeerue kee efveHeeje, ceebieer ieF& jeefMe, DevegyebOeve oeefelJeeW kes mebyebOe ceW, eceMe: mebyebefOele Heeef&eeW eje keer ieF& ceebieeW Hej efveYe&j kejleer nQ. Ssmes ceeceueeW ceW keesF& HeefleHetefle& DeHesef#ele veneR nw.

ie. uesKeeW Hej Deve efHHeefCeeeb

1. yeefneeW kee efceueeve SJeb meceeOeeve 1.1 keg MeeKeeDeeW ceW Deveg<ebieer yeefneeW /jefpemjeW kee efveeb$eke uesKeeW mes efceueeve /meceeOeeve kee keee& DeYeer eue jne nw. 1.2 Deblej keeee&uee meceeeespeve kes Debleie&le uesKeeW kes efJeefYevve Meer<eeX ceW veeces SJeb pecee keer yekeeee HeefJeef<eeW kes HeejbefYeke efceueeve kee keee& meceeOeeve kes Heeespeve nsleg 31.12.2008 leke kej efueee ieee nw. Deeies kee keee& eue jne nw. 1.3 yeQkeeW kes meeLe KeeleeW, vee@m^es, ose [^eHe/erer, Gevle, ueeYeebMe/yeepe/ Deoe efkeS ieS Oeve JeeHemeer DeeosMe Fbj SmeDeesSue Fleeefo mes mebyebefOele uesKeeW kes efceueeve kee keee& DeYeer Yeer eue jne nw. ueeYe Je neefve uesKes leLee legueve-He$e kee HeYeeJe, eefo keesF& nes, pees HeyebOeve keer jee ceW neueebefke efveOee&jCeere veneR nw, veneR efueee peeSiee. HeevlejCe, DeHee<ele ueeYe, mebeele neefveeeb leLee HeOeeve keeee&uee Jeepe sf f cegkele, efpevekes efueS efceueeve efJeeejeOeerve nw, kes keejCe Deve oWeleeSb Hemlegle kejlee nw Gmes Deve osDeleeDeeW kes Meeefceue efkeee ieee nw. 2.

C. 1.

Hetbpeeriele Heejef#ele efveefOe

2.1 Hetbpeeriele Heejef#ele efveefOe ceW Deeue mebHeefeeeW kes Hegvecet&ueebkeve kes efveee&le efJekeeme HeefjeespeveeDeeW /Deeweesefieke efveee&le HeefjeespeveeDeeW nsleg efJeMJe yeQke keer eespeveeDeeW kes Debleie&le Yeejle mejkeej keer DebMeoeve jeefMe Meeefceue nw. 2.2 eeuet efJeeere Je<e& kes oewjeve yeQke ves DeHeveer 2 efJeosMeer Deeue HeefjmebHeefeeeW

2.

Heejef#ele Keeles ceW pecee efkeee ieee nw. 3.

efveJesMe
3.1 Yeejleere efjpeJe& yeQke kes efoMee-efveoxMeeW kes Devegmeej Je<e& kes oewjeve yeQke ] ves efyeeer kes efueS GHeueyOe esCeer ceW efJeeceeve mejkeejer HeeleYeteleeeW f f (SmeSueDeej) kes Ske Yeeie kees HeefjHekeJelee Oeeefjle esCeer ceW Debleefjle kej efoee. 38.22 keje[ HeS (iele Je<e& 37.08 keje[ HeS) kes HeefjCeeceer s s cetueeme kees ueeYe SJeb neefve uesKes ceW HeYeeefjle kej efoee ieee. 3.2 'HeefjHekeJelee Oeeefjle' esCeer kes lenle jKes ieeW efveJesMe keer efyekeer Hej

3.

kejeW kees Meg ceW meceeeesefpele keee ieee nw leLee yewefkebie efJeefveeceve DeefOeefveece 1949 keer Oeeje 17 kes Devleie&le meebefJeefOeke Heejef#ele efveefOe kees Debleefjle efkeee ieee nw.

4. kejeW kes efueS HeeJeOeeve

4.1. Deeekej kee HeeJeOeeve, DeHeerueere HeeefOekeeefjeeW kes efveCe&eeW kees Oeeve ceW jKeles ngS Je DeefOeJekelee kes HejeceMe& mes efkeee ieee nw. 4.2. Deve Deeefmleeeb Meer<e&ke kes Debleie&le oMee&eer Deefiece kej Deoeeieer / meesle Hej kej keer keewleer jeefMe ceW efJeJeeoemHeo kej ceebieeW kes mebyebOe ceW yeQke eje Yegieleeve keer ieF& /efJeYeeie eje meceeeesefpele jeefMe

4.

Other Notes to Accounts Balancing of Books and Reconciliation 1.1 The balancing / Reconciliation of control accounts with subsidiary ledgers / registers is in progress in certain branches. 1.2 Initial matching of debit and credit outstanding entries in various heads of accounts included in Inter office Adjustments has been completed up to 31.12.2008, the reconciliation of which is in progress. 1.3 Reconciliation of accounts with banks, Nostro, Drafts / TTs payable, Suspense, dividend / Interest / refund orders paid / payable etc. is in progress. The impact, if any, on the Profit and Loss Account and the Balance Sheet, though not quantified, in the opinion of the management will not be material. 1.4 Net credit of Rs. 441.09 crores representing other liabilities on account of foreign currency translation of assigned capital, unremitted profit, accumulated loss and head office interest free funds, for which reconciliation is pending, has been included under other liabilities. Capital Reserves 2.1 Capital Reserve includes appreciation arising on revaluation of immovable properties and amount subscribed by Government of India under the World Banks Scheme for Export Development Projects / Industrial Export Projects for small / medium scale industries. 2.2 During the current financial year, the Bank has revalued two foreign immoveable properties by an amount of Rs. 0.59 Crores. The amount of revaluation has been shown as an addition to Fixed Assets and credited to Revaluation Reserve Account under Capital Reserves as part of Reserves and Surplus. Investments 3.1 In terms of RBI Guidelines, during the year, the bank has transferred a portion of Government Securities (SLR) kept in Available for Sale category to Held to Maturity category. The resultant depreciation of Rs.38.22 Crores (previous year Rs. 37.08 Crores) has been charged to the Profit & Loss Account. 3.2 Profit on sale of investments held under Held to maturity category amounting to Rs.723.64 Crores has been taken to the Profit and Loss Account and thereafter an amount of Rs.358.26 crores has been appropriated to the Capital Reserve, net of taxes and transfer to Statutory Reserve under section 17 of the Banking Regulation Act, 1949 Provision for Taxes. 4.1 Provision for Taxes are arrived at after due consideration of decisions of the appellate authorities and advice of counsels. 4.2 Tax paid in advance / tax deducted at source appearing under Other Assets amounting to Rs. 1019.84 Crores (previous year Rs 1092.51 Crores)

113

uesKeeW hej efhheefCeeeb / Notes on Accounts

.1019.84 kejes[ (efHeues Je<e& .1092.51 kejes[) Meeefceue nw. Deeekej keer efJeJeeoemHeo ceebieeW kes efueS veeefeke efveCe&eeW Deewj / ee keevetveer HejeceMe& DeefOekeejer keer jee kees Oeeve ceW jKeles ngS Fme ceo kes efueS keesF& HeeJeOeeve veneR efkeee ieee nw. kej efveOee&jCe DeefOekeejer eje efkees iees heefjJele&ve / ceveener yeveees jKeves ueeeke veneR nw. 4.3 yeQke ves Deeekej DeefOeefveece 1961 keer Oeeje 36(1)(viii) kes Devleie&le Hee$e JeJemeee kes mebyebOe ceW, pees Gkele Oeeje ces efJeefveefo&< nw, keewleer Keeles ceW Devleefjle kej efoS nwb. yeQke ves efHeues Je<e& kes efueS 200 kejes[ Debleefjle kej oer nw. yeQke ves Je<e& kes oewjeve 100 F&efkeJeer MesejeW(ieleJe<e& 400 F&efkeJeer Mesej) peyle kejkes Gvnsb DeefYeMetve kej efoee. Heefjmej 6.1 yeQke keer kegue 79.72 kejes[ . (cetue ueeiele) - (efHeues Je<e& 78.74 kejes[ .) keer keg mebHeefeeeW kes mebyebOe ceW nmleeblejCe efJeuesKe kee efve<Heeove nesvee yeekeer nw. 6.2 yeQke keer keg mebHeefeeeW keer Hegvecet&ueebefkele jeefMe kee GuuesKe efkeee ieee nw. Je<e& kes Deble ceW Heefjmej Meer<e& kes Debleie&le kegue1766.66 kejes[ . (efHeues Je<e& 1765.99 kejes[ .) Hegvecet&ueebefkele jeefMe kees Meeefceue efkeee ieee nQ. Meg cetueeme kes mebyebOe ceW Hegvecetueebekele jeefMe1448.34 & f kejes[ . (efHeues Je<e& 1519.09 kejes[ .) nQ. 6.3 Heefjmej kes Debleie&le efvecee&CeeOeerve /keypes ceW ueer peevesJeeueer 74.79 kejes[ . (efHeues Je<e& 87.48 kejes[ .) keer mebHeefeeeb Meeefceue nQ. 7. 31 ceee& 2009 kees meceeHle Je<e& kes oewjeve 409.10 kejes[ . keer jeefMe kes erej f yee@v[ II Hegve:MeeseOele efkeS ieS nQ leLee 300.20 kejes[ keer jeefMe kes erej I yee@v[ Deewj 1500 kejes[ keer jeefMe erDej II yee@v[ (efHeues Je<e& 2703.62 kejes[] Meeefceue nQ pees ceere[ece ce& ueesve kes ceeOece mes) ueieeeer ieeer. f Deve Deejef#ele efveefOe ceW Deeekej DeefOeefveece keer DeeJeMekeleeDeeW kes Debleie&le me=efpele efJeMes<e Deejef#ele efveefOe kes keejCe 673.95 kejes[ Hees (iele Je<e& 253.95 kejes[ Hees) keer jeefMe meceeefJe< nw . Je<e& kes oewjeve yeQke ves 1 veJecyej, 2007 mes ose DeefOekeeefjeeW Deewj DeJee[& me@ He kes Jesleve mebMeesOeve kes efueS Devegceeefvele DeeOeej Hej 325.00 kejes[ Hees (efHeues Je<e& 100 kejes[ .) keer jeefMe kee HeeJeOeeve efkeee nw. Dee@He] ye[ewoe keer Deveg<ebieer eje 24.09.1990 kees kebHeveer kees mJewefke meceeHle kejves kee efJeMes<e mebkeuHe Heeefjle efkeee ieee Deewj Gmekes efueS Ske HeefjmeceeHeke keer efveegefkele kej oer ieeer. yee@ye SHe Sme Sue ves yeQke Dee@He]
7.

5. 6.

5. 6.

8.

8. 9.

9.

10.

mes yee@ye SHe Sme Sue keer mebHetCe& Deeefmleeeb SJeb oseleeSb yeQke Dee@He] ye[ewoe ceW mLeeveebleefjle kej efoS ieS. ebtefke kebHeveer efJeeejeOeerve keevetveer ceeceues 30 ceee& 2007 kees yee@ye SHe Sme Sue keer Jeeef<e&ke meeceeve yew"ke ceW yee@ ye SHe Sme Sue kees yeQke Dee@He] ye[ewoe ceW Meeefceue kejves kee efveCe&e efueee ieee. Fmekes efueS keevetveer DeewHeeeefjkeleeSb Heefeeeiele nQ Deewj Ssmeer uebefyele DeewHeeeefjkeleeDeeW kes keejCe efkemeer Hekeej kee keesF& HeYeeJe veneR He[e nw . 11. Yeejle mejkeej eje yeveeF& ieF& ke=ef<e $e+Ce ceeHeer jenle eespevee - 2008 kes Devegmeej yeQke ves 506.04 kejes[ . kee Devebeflece oeJee oeej efkeee nw efpemeceW mes 208.91 kejes[ keer jeefMe HeeHle nes egkeer nw. Hegveie&ef"le efkeee ieee nw.
114

11.

12.

represents amounts adjusted by the department / paid by the Bank in respect of disputed tax demands for various assessment years. No provision is considered necessary in respect of the said demands as in the banks view, duly supported by counsels opinion and / or judicial pronouncements, additions / disallowances made by the Assessing Officer are not sustainable. 4.3 The Bank has claimed deduction under section 36(1)(viii) of the Income-tax Act,1961 in respect of the eligible business as specified in the said section and has accordingly transferred a sum of Rs.220 Crores to the corresponding Special Reserve account. The Bank has also transferred a sum of Rs.200 Crores from the General Reserve to Special Reserve account for the previous year. During the year, the bank has annulled the forfeiture of 100 equity shares (previous year 400 equity shares). Premises6.1 Execution of conveyance deeds is pending in respect of certain properties aggregating to Rs 79.72 Crores (Previous year Rs.78.74 Crores) (original cost). 6.2 Certain properties of the Bank are stated at revalued amounts. The gross amount of the revaluation included in premises as at the year-end is Rs.1766.66 Crores (Previous Year Rs.1765.99 Crores) and net of depreciation the revaluation amounts to Rs. 1448.34 Crores (Previous year Rs.1519.09 Crores). 6.3 Premises include assets under construction / acquisition amounting to Rs.74.79 Crores (Previous year Rs.87.48 Crores). During the year ended March 31, 2009, Tier II Bonds amounting to Rs. 409.10 Crores have been redeemed and Tier I Bonds amounting to Rs. 300.20 crores and Tier II Bonds amounting to Rs. 1500.00 Crores (Previous year Rs.2703.62 Crores including Rs.1203.62 Crores corresponding to US $ 300 Million issued by way of Medium Term Loans) were raised. Other Reserves include an amount of Rs.673.95 Crores (previous year Rs.253.95 Crores) on account of special reserves created under requirements of Income Tax Act. Bank has made a provision of Rs. 325.00 Crores (Previous year Rs 100 Crores) on an estimated basis for salary revision of officers & award staff due w.e.f. November 1, 2007. BOB Fiscal Services Limited (BOBFSL), erstwhile wholly owned subsidiary of Bank of Baroda, had passed a special resolution for voluntary winding up of the company on 24.09.1990 and the liquidator was appointed for the same. BOBFSL entered into an agreement with Bank of Baroda pursuant to which entire assets and liabilities of BOBFSL were transferred to BOB as a going concern / as sale in liquidation of the entire business w.e.f. 28.2.1991. As the company could not be liquidated due to pending legal cases; a decision to merge BOBFSL with Bank of Baroda was taken in the Annual General Meeting of BOBFSL held on 30th March 2007. The legal formalities for the same are under process and pending such formalities; no impact of the same is given in accounts. In terms of Agricultural Debt Waiver Relief Scheme 2008, framed by the Government of India, the Bank has lodged a provisional claim of Rs 506.04 Crores out of which a sum of Rs. 208.91 crores has already been received by it. Previous year figures have been regrouped / rearranged wherever considered necessary.

vekeoer eJeen efJeJejCe / Statement of Cash Flow

31 ceee& 2009 kees meceehle Je<e& kes efueS vekeoer eJeen efJeJejCe
Statement of Cash Flow for the year ended 31st March, 2009
(000's Devebefkele omitted)

31 ceee& 2009 kees meceeHle Je<e&

Year ended 31.03.2009 A. Cash flow from operating activities:

31 ceee& 2008 kees meceeHle Je<e&

Year ended 31.03.2008

ke. Heefjeeueve keee&keueeHeebs mes vekeoer HeJeen :

Net Profit before taxes 3342,94,47 2207,15,63

kej mes HetJe& Meg ueeYe

Adjustments for:

efvecveef}efKele kes ef}S meceeeespeve :

Depreciation on fixed assets 232,60,44 536,74,56 231,99,64 41,75,67

Dee} DeeefmleeeW Hej cetueeme efveJesMeeW Hej cetue eme (HeefjHekeJe $e+CeHe$eeW meefnle) yes Keeles [e}s ieS DeMeesOe $e+Ce / iewj efve<Heeoke DeeefmleeeW kes ef}S HeeJeOeeve ceeveke DeeefmleeeW kes ef}S HeeJeOeeve
Provision for Other items (Net) 12,25,75 4,39 144,96,12 (36,62) Depreciation on investments (including on Matured debentures) Bad debts written-off/Provision in respect of non-performing assets Provision for Standard Assets

337,58,36

525,87,59

75,47,47

108,80,00

Deve ceoeW kes ef}S HeeJeOeeve (efveJeue)

Profit/(loss) on sale of fixed assets (Net)

Dee} DeeefmleeeW keer efyeeer mes }eYe/(neefve) (efveJeue) ieewCe $e+CeeW Hej yeepe nsleg Yegieleeve/HeeJeOeeve, (De}ie mes ef}ee ieee) Deveg<ebieer FkeeFeeW/Deve mes HeeHle }eYeebMe (De}ie mes ef}ee ieee) GHe-pees[ efvecveef}efKele kes ef}S meceeeespeve :
(Increase)/Decrease in investments (9008,42,80) (37622,15,56) (157,50,11) 1709,03,79 40362,82,45 2192,01,51 (1322,62,48) 1125,46,71 (8900,50,67) (23606,33,02) 963,97,02 2784,48,64 27118,14,79 616,37,14 (422,49,64) 2153,33,54 Payment/provision for interest on subordinated debt (treated separately) Dividend received from subsidiaries/ others (treated separately) Sub total Adjustments for: 466,86,88 350,45,06

(32,22,41)

(10,93,81)

4972,29,91

3599,69,28

efveJesMeeW ceW (Je=ef) /keceer

(Increase)/Decrease in advances

DeefieceeW ceW (Je=ef) /keceer

(increase)/Decrease in other assets

Deve DeeefmleeeW ceW (Je=ef) /keceer

Increase/(Decrease)in borrowings

GOeej jeefMeeeW ceW Je=ef /(keceer)

Increase/(Decrease) in deposits

pecee jeefMeeeW ceW Je=ef / (keceer) Deve oseleeDeeW leLee HeeJeOeeveesb ceW Je=ef /(keceer)
Increase/(Decrease) in other liabilities and provisions Direct taxes paid (Net of Refund)

Heoe Hele#e kej (efjHeb[ keer efveJeue jeefMe)

Net cash from operating activities (A)

Heefjee}ve keee&keueeHeeW mes Meg vekeoer (ke)

115

vekeoer eJeen efJeJejCe / Statement of Cash Flow

(000's Devebefkele omitted) B. Cash flow from investing activities:

Ke. efveJesMe mebyebOeer keee&keueeHeeWW mes vekeoer HeJeen

Purchase of fixed assets

Deeue DeeefmleeeW keer Kejero

Sale of fixed assets

(207,82,60) 40,79,65 (104,12,56) 32,22,41 (238,93,10)

(293,04,82) 114,67,53 (67,69,03) 10,93,81 (235,12,51)

Deeue DeeefmleeeW keer efyeeer JeeHeej mebyebOeer efveJesMeeW ceW HeefjJele&ve (Deveg<ebieer SJeb Deve) Deveg<ebieer FkeeFeeW/DeveeW mes HeeHle }eYeebMe efveJesMe mebyebOeer keee&keueeHeeW mes Meg vekeoer (Ke)
C. Cash flow from financing activities: Changes in Trade related investments (Subsidiaries & others) Dividend received from subsidiaries/ others Net cash used in investing activities (B)

ie. efJeeHees<eCe mebyebOeer ieefleefJeefOeeeW mes vekeoer HeJeen :

Share Capital 0 3 1709,10,15 (340,93,88) (466,86,88) 1 10 2703,61,90 (252,45,84) (350,45,06)

Mesej hetBpeer
Share premium

Mesej Heerefceece
Unsecured Subordinated Bonds

iewj peceeveleer ieewCe yeeb[

Dividend paid including dividend tax

ueeYeebMe kej meefnle eoe ueeYeebMe iewj peceeveleer ieewCe yeeb[eW hej eoe / ose yeepe efJeeHees<eCe ieefleefJeefOeeeW mes Meg vekeoer (ie) vekeoer SJeb vekeoer mecelegue ceW Meg Je=ef (ke)+(Ke)+(ie) Je<e& kes eejbYe ceW vekeoer Je vekeoer mecelegue Je<e& kes Deble ceW vekeoer Je vekeoer mecelegue
Net increase in cash & cash equivalents (A)+(B)+(C) Cash and cash equivalents as at the beginning of the year Cash and cash equivalents as at the end of the year 1787,83,03 4018,92,14 Interest paid / payable on unsecured subordinated bonds Net cash from financing activities (C)

901,29,42

2100,71,11

22299,28,67 24087,11,70

18280,36,53 22299,28,67

116

uesKee hejer#ekeeW keer efjhees& / Auditors' Report

uesKee hejer#ekeeW keer efjhees&

Auditors' Report
To,

mesJee ceW,
The Shareholders,

MesejOeejke, nceves yeQke Dee@]He ye[ewoe kes 31 ceee& 2009 kes legueve-he$e leLee Gmekes meeLe mebueive Ge efoveebke kees meceehle Je<e& kes ueeYe-neefve uesKes vekeo heJeen efJeJejCe keer uesKee hejer#ee keer nw efpemeceW nceejs eje uesKee-hejeref#ele 20 MeeKeeSb, Deve uesKee-hejer#ekeeW eje uesKee-hejeref#ele 2555 MeeKeeSb Deewj mLeeveere uesKee-hejer#ekeeW eje uesKeehejeref#ele 46 efJeosMeer MeeKeeSb keer efJeJejefCeeeb Meeefceue nQ. nceejs eje Deewj Deve uesKee-hejer#ekeeW eje uesKee-hejer#ee keer ieF& MeeKeeDeeW kee egveeJe yeQke ves Yeejleere efjpeJe& yeQke eje peejer efoMee-efveoxMeeW kes Devegmeej efkeee nw. legueve he$e leLee ueeYeneefve Keeles ceW 350 MeeKeeSb keer efJeJejefCeeeb Yeer Meeefceue keer ieF& nQ, efpevekeer uesKeehejer#ee veneR keer ieeer nw. es De-uesKeehejeref#ele MeeKeeSb 0.73 heefleMele Deefiece, 2.35 heefleMele peceejeefMeeeb, 0.43 heefleMele yeepe-Deee Deewj 1.84 heefleMele yeepe-Jee mes mebyebefOele nw. es efJeeere efJeJejefCeeeb yeQke heyebOeve kee GejoeefelJe nQ. nceeje GejoeefelJe DeHeveer uesKee-hejer#ee hej DeeOeeefjle Fve efJeeere efJeJejefCeeeW hej efJeeej Jee kejvee nw.

We have audited the attached Balance Sheet of Bank of Baroda as at 31st March 2009 and also the Profit and Loss Account and the Cash Flow Statement annexed thereto for the year ended on that date in which are incorporated the returns of 20 branches audited by us, 2555 branches audited by other auditors and 46 foreign branches audited by local auditors. The branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued to the Bank by the Reserve Bank of India. Also incorporated in the Balance Sheet and the Profit and Loss Account are the returns from 350 branches which have not been subjected to audit. These unaudited branches account for 0.73 percent of advances, 2.35 percent of deposits, 0.43 percent of interest income and 1.84 percent of interest expenses. These financial statements are the responsibility of the Banks Management. Our responsibility is to express an opinion on these Financial Statements based on our audit. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting to the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Subject to the limitations of the audit indicated herein above and as required by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and subject also to the limitations of disclosure required therein, we report that: 1. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms A and B respectively of the Third Schedule to the Banking Regulation Act, 1949. Reference is invited to Note C1 in Schedule 18 regarding adjustments arising from reconciliations/ clearance of outstanding items stated therein; the consequential effect of which is not ascertainable. Earnings per share (Note B4) and Capital to Risk Assets Ratio (Note A1) in schedule 18 are subject to our observations in para 2 above. Subject to our observations in Para 2 & 3 above and read with the Significant Accounting Policies and Notes On Accounts, we further report that: a) We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary for the purposes of our audit and have found them to be satisfactory.

nceves uesKee Hejer#ee Yeejle ceW mJeerkeee& meeceeve uesKee Hejer#ee ceevekeeW kes DeeOeej Hej keer nw. Fve ceevekeeW kes Devegmeej en DeHesef#ele nw efke nce uesKee Hejer#ee Fme lejn mes megefveeesefpele Deewj mebHevve kejW efke nceW en leke&mebiele DeeMJeemeve efceues efke es efJeeere efJeJejefCeeeb efkemeer Hekeej keer cenlJeHetCe& ieueefleeeW mes cegkele nQ. efJeeere efJeJejCeeW ceW oer ieF& jeefMeeeW kes mee#eeW SJeb HekeerkejCe keer peebe kejvee uesKee Hejer#ee ceW Meeefceue nw. uesKee Hejer#ee ceW, HeyebOeve eje efkeS ieS cenlJeHetCe& efveOee&jCe Deewj uesKe efmeebleeW kee Deekeueve Yeer Meeefceue nw. FmeceW meceie efJeeere efJeJejCe keer Hemlegefle kee cetueebkeve Yeer Meeefceue nw. nceeje efJeMJeeme nw efke nceejs eje keer ieeer uesKee Hejer#ee nceejer jee kee leke&mebiele DeeOeej nw. FmeceW metefele uesKee-Hejer#ee Deewj yeQkekeejer kebHeveer (GHeeceeW kee DeefOeienCe SJeb DeblejCe) DeefOeefveece, 1970 kes DeeOeej Hej Deewj Gvekes Debleie&le HekeerkejCe keer meerceeDeeW kes DeOeerve nce en efjHees& osles nQ efke : 1. legueve-He$e Deewj ueeYe-neefve uesKee, yeQkekeejer kebHeveer DeefOeefveece, 1949 keer le=leere Devegmeteer kes Heece& S Deewj yeer ceW yeveeS ieS nQ. Devegmeteer 18 Hej vees meer 1 kee meboYe& ueW. FmeceW GefuueefKele yekeeee ceoeW kes meceeOeeve, meceeMeesOeve mes GlHevve meceeeespeveeW kes mebyebOe ceW HeYeeJe kees efveOee&efjle veneR efkeee pee mekelee. Devegmeteer 18 ceW HeefleMesej Depe&ve (vees yeer 4) leLee Hetbpeer Hej peesefKece Deeefmle DevegHeele (vees S 1) GHejeskele Hewje (2) ceW oer ieeer nceejer efHHeefCeeeW kes DeOeOeerve nw. GHejeskele Devegso (2) Deewj (3) keer efHHeefCeeeW kes DeOeerve Deewj GuuesKeveere efjHees& kejles nQ efke:De) nceves DeHeves DeefOekelece %eeve SJeb efJeMJeeme kes Devegmeej uesKee-Hejer#ee nsleg DeeJeMeke meYeer peevekeejer leLee mHe<erkejCe HeeHle efkeS nQ leLee GvnW meblees<epeveke Heeee nw.

2.

2.

3.

3.

4.

4.

117

uesKee hejer#ekeeW keer efjhees& / Auditors' Report

b)

ye)

yeQke kes mebJeJenejeW keer pees peevekeejer nceejs meeceves Deeeer nw, Jes yeQke kes DeefOekeej #es$e kes Debleie&le ner nQ. yeQke kes keeee&ueeeW Deewj MeeKeeDeeW mes HeeHle efJeJejefCeeeb uesKee-Hejer#ee nsleg meeceevele: Heee&Hle Heeeer ieeeR, kesJeue keg ceeceueeW ceW, HeeHle efJeJejefCeeeW ceW Yejs ieS efJeJejCe DeHetCe& /DeHeee&Hle Les. Ssmes ceeceueeW ceW HeyebOe leb$e eje oer ieF& meteveeDeeW Deewj mHe<erkejCe Hej nceves Yejesmee efkeee nw. nceejer jee Deewj nceejer DeefOekelece peevekeejer kes Devegmeej Deewj nceW efoS ieS mHe<erkejCeeW SJeb yeQke keer uesKeeyeefneeW ceW oMee&S ieS Devegmeej :
i)

The transactions of the Bank, which have come to our notice have been within the powers of the Bank. The returns received from the offices and branches of the Bank have generally been found adequate for the purpose of our audit and the management has provided us information and explanations, on which we have placed reliance, where the particulars, in the returns received, were incomplete/ inadequate. In our opinion, as shown by books of bank, and to the best of our information and according to the explanations given to us: i. The Balance Sheet, read with the notes thereon is a full and fair Balance Sheet containing all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at 31st March 2009 in conformity with accounting principles generally accepted in India; The Profit and Loss Account, read with the notes thereon shows a true balance of profit, in conformity with accounting principles generally accepted in India, for the year covered by the account; and The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

me)

c)

o)

d)

vees kes meeLe Heef"le en legueve-He$e HetCe& Deewj mener nw, efpemeceW DeeJeMeke efJeJejCe efoS ieS nQ Deewj eLeesefele {bie mes yeveeee ieee nQ, efpememes efke, Yeejle ceW meeceevele: kes meeLe Heef"le yeQke kes 31 ceee&, 2009 kes efeeekeueeHeeW kee mener SJeb eLeeeesie efe$e meeceves Dee mekes.

ii.

ii)

ueeYe-neefve uesKee, Yeejle ceW meeceevele: mJeerkeee& uesKeebkeve yeQke kes mener ueeYe Mes<e kees oMee&lee nw.

iii)

vekeoer HeJeen-efJeJejCe Je<e& kes oewjeve vekeoer HeJeen kee mener SJeb mHe< efJeJejCe oslee nw.

iii.

ke=les yeer.meer.pewve SC[ keb. meveoer uesKeekeej

For B.C.JAIN & CO. Chartered Accountants

ke=les cesmeme& S. meeosJe SC[ keb meveoer uesKeekeej

For A. SACHDEV & CO. Chartered Accountants

ke=les cesmeme& ieghlee veeej SC[ keb. meveoer uesKeekeej

For GUPTA NAYAR & CO. Chartered Accountants

(Jeer. meer. pewve)

(B.C. Jain)

(ceveer<e DeeJeeue)
(Manish Agarwal)

(jepeerJe kegceej veeej)

(Rajiv Kumar Nayar)

Yeeieeroej / Parter
(M.No. 005690)

Yeeieeroej / Parter
(M.No. 078628)

Yeeieeroej / Parter
(M.No. 085468)

ke=les Sme.kes.kehetj SC[ keb. meveoer uesKeekeej

For S.K. KAPOOR & CO. Chartered Accountants

ke=les Deeveer SC[ DemeesefmeSdme meveoer uesKeekeej

For ASHWANI & ASSOCIATES Chartered Accountants

ke=les cesmeme& Sve.meer.ye@vepeea SC[ keb. meveoer uesKeekeej

For N.C. BANERJEE & CO. Chartered Accountants

(mebpeerJe keHetj)
(Sanjiv Kapoor)

(Deefeveer kegceej)
(Ashwani Kumar)

(yeer. kes. efyemJeeme)

(B. K. Biswas)

Yeeieeroej / Parter
(M.No. 070487)

Yeeieeroej / Parter
(M.No. 80711)

Yeeieeroej / Parter
(M.No. 055623)

mLeeve/Place : Mumbai efoveebke/Date : 27.04.2009

118

mecesefkele efJeeere efJeJejefCeeeb / Consolidated Financial Statements

mecesefkele efJeeere efJeJejefCeeeb

CONSOLIDATED FINANCIAL STATEMENTS

119

mecesefkele legueve-he$e / Consolidated Balance Sheet

31 ceee& 2009 kee mecesefkele legueve-he$e

Consolidated Balance Sheet as on 31st March 2009
(000s

Devebefkele Rs. In 000s)

Devegmeteer
SCHEDULE

31 ceee& 2009 kees 31 ceee& 2008 kees

As on As on 31st Mar, 2009 31st Mar, 2008 . Rs. . Rs. 365,52,77 12914,98,95 46,42,54 196608,43,67 5644,84,91 16730,97,07 232311,19,91 365,52,77 10993,01,40 36,28,93 155295,07,56 3962,17,07 12826,90,61 183478,98,34

CAPITAL & LIABILITIES

Hetbpeer Deewj oseleeSb

Capital 1 2 2A 3 4 5

Hetbpeer
Reserves & Surplus

Heejef#ele efveefOeeeb Deewj DeefOeMes<e

Minority Interest

ceeeveesefjer Fvjsm
Deposits

peceejeefMeeeb
Borrowings

GOeej ueer ieF& jeefMeeeb

Other Liabilities & Provisions

Deve oseleeSb SJeb HeeJeOeeve

TOTAL

pees[
ASSETS

Deeefmleeeb
Yeejleere efj]peJe& yeQke kes Heeme vekeoer Deewj Mes<e jkece yeQkeesb kes Heeme Mes<e jkece leLee ceebie SJeb DeuHe metevee Hej Heefleose jeefMe efveJesMe
Loans & Advances 9 10 11 146293,98,48 2375,50,64 4628,38,89 184,12,16 232311,19,91 12 73730,70,57 14047,38,50 18 19 108578,97,43 2490,52,12 4397,49,56 184,12,16 183478,98,34 82595,27,12 8360,14,91 Cash and balances with Reserve Bank of India Balances with Banks and Money at Call and Short Notice Investments 6 7 8 10901,20,65 14301,41,14 53626,57,95 9617,33,70 13552,77,47 44657,75,90

$e+Ce SJeb Deefece

Fixed Assets

Deeue Deeefmleeeb
Other Assets

Deve Deeefmleeeb
Goodwill on Consolidation

meceskeve Hej ieg[efJeue

TOTAL

pees[
Contingent Liabilities

Deekeefmceke oseleeSb
Bills for Collection

Jemet}er kes efueS efyeue cenlJehetCe& uesKee-veerefleeebb uesKeeW Hej efHHeefCeeeb

Significant Accounting Policies Notes on Accounts

THej oMee&eer ieeer Devegmetefeeeb legueve-He$e kee Ske DeefYevve Yeeie nQ.
The Schedules referred to above form an integral part of the Balance Sheet.

efveosMeke eer Sce.[er.ceuee

DeOe#e SJeb HeyebOe efveosMeke

uesKee Hejer#eke mece leejerKe keer nceejer mebueive he=Leke efjhees& kes Devegmeej ke=les yeer.meer.pewve SC[ keb. meveoer uesKeekeej Yeeieeroej
M No. 073488

eer Jeer.mevleevejeceve
keee&keejer efveosMeke

eer Deej. kes. ye#eer

keee&keejer efveosMeke

eer Sve.Deej.yeerveejeeCeve
ceneHeyebOeke (keeHeex.Keeles, kejeOeeve SJeb DevegHeeueve DeefOekeejer-Yee.efj.yeQ)

eer DeefceleeYe Jecee& eer S. meescemegvojce eer efceefuevo Sve. vee[keCeea eer jCepeerle kegceej epeea eer Decejpeerle eeshe[e [e@. Delegue DeieJeeue [e@. Oecexv Yeb[ejer eer ceewefueve S. Jew<CeJe

ke=les S. meeosJe SC[ keb. meveoer uesKeekeej Yeeieeroej

M No. 078628

ke=les ieghlee veeej SC[ keb. meveoer uesKeekeej Yeeieeroej

M No. 091740

eer Jeer.kes.iegHlee
GHe ceneHeyebOeke (keeHeex.Keeles SJeb kejeOeeve)

ke=les Sme kes keHetj SC[ keb. meveoer uesKeekeej (Jeer. yeer. efmebn) Yeeieeroej
M No. 73124

ke=les DeefMJeveer SC[ SmeesefmeS meveoer uesKeekeej (DejefJebo pewve) Yeeieeroej

M No. 097549

ke=les Sve meer yevepeea SC[ keb. meveoer uesKeekeej (Sce meer kees[eueer) Yeeieeroej
M No. 056514

mLeeve : cegbyeF& leejerKe : 26.5.2009

120

mecesefkele ueeYe Je neefve uesKee& / Consolidated Profit & Loss Account

31 ceee& 2009 kees meceehle Je<e& kee mecesefkele ueeYe Je neefve uesKee
Consolidated Profit & Loss Account for the year ended 31st March 2009
Devegmeteer
SCHEDULE

(000s Devebefkele omitted) 31 ceee& 2009 kees 31 ceee& 2008 kees meceehle Je<e& kes efueS meceehle Je<e& kes efueS
Year ended Year ended 31st Mar 2009 31st Mar 2008 . Rs. . Rs.

I.

Deee Deefpe&le yeepe Deve Deee pees[ II. Jee yeepe Jee heefjeeueve Jee eeJeOeeve Deewj Deekeefmceke Jee pees[ ceeFveeefjer Fvjsm mes hetJe& mecesefkele ueeYe Deewj meneesieer FkeeFeeW ceW Deee kee DebMe meneesieer FkeeFeeW ceW Deee kee DebMe ceeFveeefjer Fvjsm keeves mes HetJe& Je<e& kes efueS mecesefkele Meg ueeYe IeeSb : ceeFveeefjer Fvjsm Je<e& kes efueS eghe kee mecesefkele ueeYe Deeies ueeF& ieF& ueeYe SJeb neefve Keeles ceW Mes<e jeefMe efJeefveeesie nsleg GheueyOe jeefMe III. efJeefveeesie meebefJeefOeke Deejef#ele efveefOe kees DevlejCe jepemJe SJeb Deve Deejef#ele efveefOeeeW kees DevlejCe
Oeeje 36(1) (viii) kes lenle efJeMes<e Deejef#ele efveefOe kees DeblejCe

I. INCOME Interest Earned Other Income TOTAL II. EXPENDITURE Interest Expended Operating Expenses Provisions and Contingencies TOTAL Consolidated Profit before Minority Interest and share of earning in Associates Share of earnings in Associates Consolidated Net Profit for the year before deducting Minority interest Less : Minority Interest Consolidated Profit for the year attributable to the group Balance in Profit and Loss A/c brought forward Amount available for appropriation III. APPROPRIATIONS Transfer to Statutory Reserve Transfer to Capital Reserves Transfer to Special Reserve u/s 36 (1)(viii) Transfer to Revenue & Other Reserves Proposed Dividend (Including Dividend Tax) Balance carried over to consolidated Balance Sheet TOTAL Earnings per Share (Basic & Diluted) Significant Accounting Policies Notes on Accounts 13 14 15547,56,10 2845,36,05 18392,92,15 10167,34,91 3712,35,72 2181,94,95 16061,65,58 2331,26,57 17 63,65,64 2394,92,21 10,84,32 2384,07,89 61,79,31 2445,87,20 566,58,22 358,25,58 220,00,00 846,90,41 383,55,63 70,57,36 2445,87,20 65.45 18 19 12164,24,51 2142,42,25 14306,66,76 8062,86,78 3152,55,91 1573,10,29 12788,52,98 1518,13,78 39,85,13 1557,98,91 9,61,34 1548,37,57 33,13,47 1581,51,04 365,66,47 84,64,85 0 728,46,53 340,93,88 61,79,31 1581,51,04 42.51

15 16

jepemJe SJeb Deve Deejef#ele efveefOeeeW kees DeblejCe emleeefJele ueeYeebMe (ueeYeebMe kej meefnle) mecesefkele yesueWmeMeer ceW Deeies ues peeee ieee Mes<e pees[ HeeleMesej Deee (yesemeke Je [eeuet[) . ceW f f s cenlJehetCe& uesKee-veerefleeebb uesKeeW Hej efHHeefCeeeb GHej oMee&F& ieF& Devetmetefeeeb ueeYe SJeb neefve uesKes kee ner Ske Yeeie nQ
M D Mallya DIRECTORS

The Schedules referred to above form an integral part of the Profit & Loss Account.
AUDITORS As per our separate report of even date attached For Gupta Nayar & Co. For B C Jain & Co. For A. Sachdev & Co Chartered Accountants Chartered Accountants Chartered Accountants (Ranjeet Singh) (Manish Agarwal) (Surendra Naruka ) Partner Partner Partner M No. 073488 M No. 078628 M No. 091740 For Ashwani & Associates For N C Banerjee & Co For S. K. Kapoor & Co. Chartered Accountants Chartered Accountants Chartered Accountants (V B Singh) (Arvind Jain) (M. C. Kodali) Partner Partner Partner M No. 73124 M No. 097549 M No. 056514

Chairman & Managing Director Shri Amitabh Verma V Santhanaraman Shri. A somasundaram Executive Director Shri Milind N Nadkarni R K Bakshi Shri Ranjit Kumar Chatterjee Executive Director Shri Amarjit Chopra N R Badrinarayanan Dr. Atul Agarwal General Manager (Corporate A/cs. Taxation & Compliance Officer - RBI) V K Gupta Dy. General Manager (Corp. Accounts & Taxation) Place: Mumbai Date: 26.05.2009 Dr. Dharmendra Bhandari Shri Maulin A Vaishnav

121

mecesefkele legueve-he$e keer Devegmetefeeeb

mecesefkele legueve-he$e keer Devegmetefeeeb

Schedules to Consolidated Balance Sheet
(000s Devebefkele omitted) 31 ceee&, 2008 kees 31 ceee&, 2009 kees
As on 31st March 2009 . Rs. . Rs. As on 31st March 2008 . Rs. . Rs.

Devegmeteer - 1 Hetbpeer HeeefOeke=le Hetbpeer (eleske . 10/- kes 150,00,00,000 FefkeJeer Mesej) peejer keer ieeer leLee DeefYeoe Hetbpeer (eleske . 10/- kes 36,70,00,000 FefkeJeer Mesej) ceebieer ieF& Hetbpeer eleske . 10/- kes 36,42,66,500 (efHeues Je<e& 36,42,66,400) FefkeJeer Mesej efpemeceW eleske . 10/- kes 1960,00,000 FefkeJeer Mesej (efHeues Je<e& 1960,00,000) Meeefceue nw, efpemekeer kegue jeefMe .196 kejes[ kesv mejkeej eje Oeeefjle nw. pees[W : peyle Mesej pees[W Devegmeteer - 2 Heeefj#ele efveefOeeeb Deewj DeefOeMes<e i meebefJeefOeke Heejef#ele efveefOeeeb DeejbefYeke Mes<e pees[W : ueeYe SJeb neefve mes Debleefjle pees[W : Je<e& kes oewjeve meceeeespeve IeeSb: Je<e& kes oewjeve keewefleeeb / meceeeespeve ii ke) Hetbpeeriele Heejef#ele efveefOeeeb DeejbefYeke Mes<e pees[W : ueeYe SJeb neefve mes Debleefjle pees[W : Je<e& kes oewjeve HeefjJeOe&ve / meceeeespeve IeeSb: Je<e& kes oewjeve keewefleeeb / meceeeespeve Ke) meceskeve hej Hetbpeeriele Heejef#ele efveefOeeeb DeejbefYeke Mes<e pees[W : Je<e& kes oewjeve HeefjJeOe&ve / meceeeespeve IeeSb: Je<e& kes oewjeve keewefleeeb / meceeeespeve iii Mesej Heerefceece DeejbefYeke Mes<e pees[W : Je<e& kes oewjeve HeefjJeOe&ve / meceeeespeve IeeSb: Je<e& kes oewjeve keewefleeeb / meceeeespeve iv jepemJe SJeb Deve Heejef#ele efveefOeeeb

SCHEDULE - 1 CAPITAL AUTHORISED CAPITAL (150,00,00,000 Equity Shares of Rs.10/- each) ISSUED & SUBSCRIBED CAPITAL (36,70,00,000 Equity Shares of Rs.10/- each CALLED UP CAPITAL 36,42,66,500 (previous year 36,42,66,400) Equity shares of Rs.10/- each including 1960,00,000 equity shares (previous year 1960,00,000 equity shares) of Rs.10/- each amounting to Rs.196 crores held by Central Government. Add: Forfeited Shares TOTAL SCHEDULE - 2 RESERVES & SURPLUS i Statutory Reserves Opening Balance Add: Transfer from P&L Add : Adjustments during the year Less: Deductions/ Adjustments during the year ii a) Capital Reserves Opening Balance Add: Transfer from P&L Add: Additions/Adjustments during the year Less: Deductions/ Adjustments during the year b) Capital Reserve on Consolidation Opening Balance Add: Additions/Adjustments during the year Less: Deductions/ Adjustments during the year iii Share Premium Opening Balance Add: Additions/Adjustments during the year Less: Deductions/ Adjustments during the year iv Revenue & Other Reserves

1500,00,00

1500,00,00

367,00,00

367,00,00

364,26,65 1,26,12

365,52,77 365,52,77

364,26,64 1,26,13

365,52,77 365,52,77

2268,33,53 566,58,22 78,19 4,17,38 1803,19,77 358,25,58 4,14,79 72,60,58 2092,99,56 2831,52,56

1904,76,99 365,66,47 62,79 2,72,72 416,75,44 84,64,85 1393,59,31 91,79,83 1803,19,77 2268,33,53

9,36,81 28,01,42 2273,88,53 3 2273,88,56 37,38,23

6,74,07 2,62,74 2273,88,43 10 2273,88,53 9,36,81

122

Schedules to Consolidated Balance Sheet

(000s Devebefkele omitted) 31 ceee&, 2009 kees 31 ceee&, 2008 kees

As on 31st March 2009 . Rs. . Rs. As on 31st March 2008 . Rs. 4200000 3876,74,25 728,46,53 5188,62,68 70,57,36 12914,98,95 28,77,33 4576,43,45 61,79,31 10993,01,40 . Rs.

ke. Oeeje 36 (1) (viii) kes lenle efJeMes<e eejef#ele efveefOeeeb a. Special Reserves u/s 36 (1) (viii)
Opening Balance

eejbefYeke Mes<e
Add: Trf from General Reserves

200,00,00 220,00,00 4576,43,45 846,90,41 200,00,00

pees[s: meeceeve eejef#ele efveefOeeeW mes DeblejCe Add: Additions/Adjustments pees[s: Je<e& kes oewjeve HeefjJeOe&ve/meceeeespeve
during the year

IeeSb: Je<e& kes oewjeve keewefleeeb/meceeeespeve Less: Deductions/Adjustments

during the year b. Revenue Reserves Opening Balance Add: Transfer from P&L Less: Trf to Special Reserve Less: Deductions/Adjustments during the year v Balance in P&L A/c Total Reserves & Surplus (I to v) SCHEDULE - 2A- Minority Interest Opening Balance Add: Additions / Adj. during the year Total Minorities Interest SCHEDULE - 3 DEPOSITS

Ke. Heejef#ele efveefOeeeb eejbefYeke Mes<e pees[s : ueeYe Deewj neefve mes DeblejCe IeeSb: efJeMes<e eejef#ele efveefOeeeW kees DeblejCe IeeSb: Je<e& kes oewjeve keewefleeeb/ meceeeespeve v ueeYe/neefve Keeles ceW Mes<e kegue Heejef#ele efveefOeeeb Deewj DeefOeMes<e (i mes v)
Devegmeteer - 2 S- ceeFveeefjer Fvjsm HeejbefYeke Mes<e pees[W : Je<e& kes oewjeve HeefjJeOe&ve / meceeeespeve kegue ceeFveeefjer Fvjsm Devegmeteer - 3 pecee jeefMeeeb ke. I ceebie pecee jeefMeeeb i) yewkeeW mes ii) DeveeW mes
II yeele yeQle pecee jeefMeeeb III ceereeoer pecee jeefMeeeb i) yeQkeeW mes ii) DeveeW mes pees[ (I, II SJeb III) Ke. I Yeejle ceW MeeKeeDeeW keer peceejeefMeeeb II Yeejle mes yeenj MeeKeeDeeW keer

34,71,18

36,28,93 10,13,61 46,42,54 46,42,54

31,81,61 4,47,32 36,28,93 36,28,93

A. I Demand Deposits i) From Banks ii) From Others II Savings Bank Deposits III Term Deposits i) From Banks ii) From Others TOTAL (I,II and III) B. I Deposits of branches in India II Deposits of branches outside India TOTAL (I & II) SCHEDULE - 4 BORROWINGS
153310,05,48

647,76,20

559,65,65

14607,07,21 15254,83,41 11662,07,80 12221,73,45 43693,31,62 16918,94,79

196608,43,67

36879,00,73 13326,10,90 155295,07,56 125930,14,68 29364,92,88 155295,07,56

120741,33,85 137660,28,64 92868,22,48 106194,33,38

pecee jeefMeeeb pees[ (I SJeb II) Devegmeteer - 4 GOeej jeefMeeeb

43298,38,19
196608,43,67

123

mecesefkele legueve-he$e keer Devegmetefeeeb

(000s Devebefkele omitted) 31 ceee&, 2008 kees 31 ceee&, 2009 kees

As on 31st March 2009 . Rs. I Yeejle ceW GOeej jeefMeeeb i) Yeejleere efjpeJe& yeQke ii) Deve yeQke iii) Deve mebmLeeSb Deewj SpeWefmeeeb II Yeejle mes yeenj GOeej jeefMeeeb pees[ (I SJeb II) THej I SJeb II ceW Meeefceue peceeveleer GOeej I Borrowings in India i) Reserve Bank of India ii) Other Banks iii) Other Institutions and Agencies II Borrowings outside India TOTAL (I & II) Secured Borrowings included in I & II above SCHEDULE - 5 OTHER LIABILITIES AND PROVISIONS I Bills Payable II Interest Accrued III Inter office Adjustments (Net) IV Tier-I Innovative perpetual debt V Unsecured Redeemable (Subordinated Debts for Tier II Capital (of Parent only) 2700,00,00 17,17,26 431,02,43 . Rs. As on 31st March 2008 . Rs. 18,57,54 692,18,52 . Rs.

3148,19,69 2496,65,22 5644,84,91 256,03,05

710,76,06 3251,41,01 3962,17,07 762,75,97

jeefMeeeb Devegmeteer - 5 Deve oseleeSb SJeb HeeJeOeeve I ose efyeue II Gheefele yeepe III Devlej keeee&uee meceeeespeve (Meg) IV erej I veJeesvces<e yesceereeoer $e+Ce
V iewj peceeveleer eefleMeesOe

1254,28,42 1469,85,37 1088,89,09 300,20,00

1759,60,01 1214,91,48 -

(erej II hetbpeer kes efueS ieewCe $e+Ce (kesJeue esCeer cetue kebheveer kes efueS)

Jeepe oj
Interest Rate

HeefjHekeJelee keer leejerKe

Date of Maturity 300,00,00 300,00,00 300,00,00 770,00,00 920,00,00 500,00,00 1000,00,00 1000,00,00 500,00,00 1521,62,05 20,00,00 1146,24,68 4639,87,46 16730,97,07 298,00,00 409,10,00 298,00,00 409,10,00 300,00,00 770,00,00 920,00,00 500,00,00 1000,00,00 1203,61,90 20,00,00 1056,81,60 3374,85,62 12826,90,61

Series

esCeer II efJekeuhe III esCeer III efJekeuhe I esCeer IV esCeer V esCeer VI esCeer VII esCeer VIII esCeer IX esCeer X Sce er Sve-erej II yeeb[ (DeesJejmeerpe) ef[yeWej (erej II yeeb[ kes efueS hee$e) VI DeefeceeW kes hess Deekeefmceke eeJeOeeve VII Deve (eeJeOeeveeW meefnle) kegue (I, II, III, IV, V, VI & VII)

Series II Option III 14.30% 09.04.09 Series III Option I 11.15% 30.04.08 Series IV 5.85% 02.07.14 Series V 7.45% 28.04.15 Series VI 8.95% 15.05.16 Series VII 9.30% 28.12.22 Series VIII 9.30% 03.01.23 Series IX 9.15% 04.03.24 Series X 8.95% 12.04.18 MTN-Tier II Bonds (Overseas) Debentures (eligible for Tier II Bonds) VI Contingent Provisions against Advances VIIOthers (including provisions) TOTAL (I, II, III, IV, V, VI & VII) SCHEDULE - 6 CASH AND BALANCES WITH RESERVE BANK OF INDIA I Cash in hand (including foreign currency notes) II Balances with Reserve Bank of India : i) in Current Account ii) in Other Accounts Total (I & II)

Devegmeteer - 6 Yeejleere efjpeJe& yeQke kes Heeme vekeoer SJeb Mes<e I vekeoer Mes<e (efJeosMeer cege veeseW meefnle)
II Yeejleere efjpeJe& yeQke kes Heeme Mes<e i) eeuet Keeles ceW ii) Deve KeeleeW ceW pees[ (I SJeb II)

1042,94,53 9775,50,45 82,75,67 8669,47,89 29,72,55

918,13,26

9858,26,12 10901,20,65

8699,20,44 9617,33,70

124

Schedules to Consolidated Balance Sheet

(000s Devebefkele omitted) 31 ceee&, 2008 kees 31 ceee&, 2009 kees

As on 31st March 2009 . Rs. . Rs. SCHEDULE - 7 BALANCES WITH BANKS AND MONEY AT CALL AND SHORT NOTICE I In India i) Balances with Banks a) in Current Accounts b) in Other Deposit Accounts ii) Money at call and short notice a) with Banks b) with Other Institutions Total (i and ii) II Outside India i) in Current Accounts ii) in Other Deposit Accounts iii) Money at Call and Short Notice Total (i, ii and iii) Grand Total (I and II) SCHEDULE - 8 INVESTMENTS I Investments in India in i) Govt Securities ii) Other Approved Securities iii) Shares iv) Debentures and Bonds v) Investment in Associates [includes Banks share of contribution as advance of Rs.101.27 crores (Previous Year Rs. 73.16 crores) towards Share Capital of RRBs pending allotment] vi) Others Total (i to vi) II Investments Outside India in i) Govt Securities (incl. Local authorities) ii) Investment in Associates iii) Others Total (i to iii) Grand Total (I & II) 1876,61,35 30,85,46 2912,52,04 4819,98,85 53626,57,95 1629,33,31 33,85,68 2616,85,58 4280,04,57 44657,75,90 40580,66,70 968,14,15 606,13,45 3045,87,92 33945,32,09 1154,14,56 775,89,22 2642,65,28 As on 31st March 2008 . Rs. . Rs.

Devegmeteer - 7 yeQke kes heeme Mes<e Deewj ceebie SJeb DeuHe metevee Hej Heefleose jeefMe
I Yeejle ceW i) yewkeeW kes Heeme Mes<e jkece

(ke) eeuet KeeleeW ceW (Ke) Deve pecee KeeleeW ceW

ii) ceebie Hej SJeb DeuHe metevee Hej Heefleose

355,50,25 1474,79,55 32,84,00 1830,29,80

343,23,06 1363,74,90 2785,35,00 160,00,00 1706,97,96

(ke) yewkeeW kes Heeme (Ke) Deve mebmLeeDeeW kes Heeme pees[ (i SJeb ii) II Yeejle mes yeenj i) eeuet KeeleeW ceW ii) Deve pecee-jeefMe KeeleeW ceW iii) ceebie SJeb DeuHe metevee Hej Heefleose jeefMe pees[ (i,ii SJeb iii) kegue pees[ (I SJeb II) Devegmeteer - 8 efveJesMe
I Yeejle ceW efveJesMe i) mejkeejer HeefleYetefleeeb ii) Deve Devegceesefole HeefleYetefleeeb iii) Mesej iv) ef[yeWej SJeb yeeb[ v) meneesieer FkeeFeeW ceW efveJesMe (FmeceW

32,84,00 1863,13,80

2945,35,00 4652,32,96

1120,65,06 4011,74,86 7305,87,42 12438,27,34 14301,41,14

811,14,19 4479,33,75 3609,96,57 8900,44,51 13552,77,47

#es$eere ieeceerCe yeQkeeW kees Mesej Hetbpeer Deeyebve nsleg ueefcyele nQ, .101.27 kejes[ Meeefceue nw.) (efHeues Je<e& . 73.16 kejes[)
vi) Deve

376,41,81 3229,35,07 48806,59,10

253,17,82 1606,52,36 40377,71,33

pees[ (i mes vi) II Yeejle mes yeenj efveJesMe i) mejkeejer HeefleYetefleeeb (mLeeveere HeeefOekejCeeW meefnle) ii) meneesieer FkeeFeeW ceW efveJesMe iii) Deve pees[ (i mes iii) kegue pees[ (I SJeb II)

125

mecesefkele legueve-he$e keer Devegmetefeeeb

(000s Devebefkele omitted) 31 ceee&, 2009 kees 31 ceee&, 2008 kees

As on 31st March 2009 . Rs. III Yeejle ces efveJesMe III Investments in India 40718,59,24 340,87,91 40377,71,33 4380,78,79 100,74,22 4280,04,57 44657,75,90 Gross value of Investments efveJesMeeW kee mekeue cetue 49363,71,39 Less: Aggregate of Provisions IeeSb: cetueeme nsleg HeeJeOeeveeW kee for Depreciation pees[ 557,12,29 Net Investments Meg efveJesMe 48806,59,10 IV Investments outside India IV Yeejle mes yeenj efveJesMe Gross value of Investments efveJesMeeW kee mekeue cetue 5181,71,93 Less: Aggregate of Provisions IeeSb: cetueeme nsleg HeeJeOeeveeW kee pees[ for Depreciation Net Investments 361,73,08 . Rs. As on 31st March 2008 . Rs. . Rs.

Meg efveJesMe
SCHEDULE - 9 ADVANCES

4819,98,85 53626,57,95

Devegmeteer - 9 Deefiece ke. i) Kejeros Deewj YegveeS ieS efyeue

ii) vekeoer $e+Ce, DeesJej [^eHe Deewj ceebie

A. i) Bills Purchased and Discounted ii) Cash Credits, Overdrafts and Loans Repayable on Demand iii) Term Loans

13960,27,73

8860,68,25

Hej egkeewleer eesie $e+Ce

iii) ceereeoer $e+Ce

67879,76,91 64453,93,84
146293,98,48

49498,78,66 50219,50,52 108578,97,43

Total (i to iii) pees[ (i mes iii) Ke. i) cetle& DeeefmleeeW eje mebefj#ele (yener B. i) Secured by Tangible Assets(Includes advances $e+Ce keer SJepe ceW DeefieceeW meefnle) against book debts) ii) yewkeeW/mejkeejer ieejbefeeW eje jef#ele iii) iewj-peceeveleer ii) Covered by Bank/ Government Guarantees iii) Unsecured Total (i to iii) C. I Advances in India i Priority Sector

96287,21,14 16145,80,85 33860,96,49

146293,98,48

72800,74,63 7598,95,71 28179,27,09 108578,97,43 30014,85,54 13455,37,67 1644,21,99

pees[ (i mes iii) ie. I Yeejle ceW Deefiece i HeeLeefcekelee HeeHle #es$e ii meeJe&peefveke #es$e iii yeQke iv Deve II Yeejle mes yeenj Deefiece i yeQkeeW mes HeeHe ii DeveeW mes HeeHe ke. Kejeros ieS Deewj YegveeS ieS efyeue Ke.mecetn $e+Ce ie. Deve pees[ (ie I + ie II)

38878,53,43 22291,50,30 52,99,37

ii Public Sector iii Banks iv Others II Advances Outside India i Due from Banks a) Bills purchased & Discounted b) Syndicated Loans c) Others Total (C.I +C.II)

49240,54,47 110463,57,57 40458,83,14 85573,28,34 172,60,23 442,11,55

ii Due from Others 11352,42,51 7744,64,87 6301,26,79 6140,69,85 108578,97,43

16560,73,30 35830,40,91 10121,60,90 23005,69,09

146293,98,48

126

Schedules to Consolidated Balance Sheet

(000s Devebefkele omitted) 31 ceee&, 2008 kees 31 ceee&, 2009 kees

As on 31st March 2009 . Rs. SCHEDULE - 10 Devegmeteer-10 FIXED ASSETS Deeue Deeefmleeeb I Premises I Heefjmej At cost as on 31st March of efJeiele Je<e& keer 31 ceee& keer ueeiele / the preceding year hegvecet&ueebefkele jeefMe Hej Additions/Adjustments during Je<e& kes oewjeve HeefjJeOe&ve / meceeeespeve the year . Rs. As on 31st March 2008 . Rs. . Rs.

2412,95,13 50,50,68 2463,45,81

1006,44,13 1418,89,74 2425,33,87 123,874 2412,95,13 1991,36,01 379,45,11 2033,50,02

IeeSb : Je<e& kes oewjeve keewefleeeb

Less : Deductions during the year Depreciation to date

3,79,14 2459,66,67 468,30,66

Deepe keer leejerKe kees cetue eme II Deve Deeue Deeefmleeeb (Heveeaej SJeb efHekemeej meefnle) efJeiele Je<e& keer 31 ceee& kees ueeiele hej Je<e& kes oewjeve HeefjJeOe&ve / meceeeespeve

II Other Fixed Assets (including Furniture & Fixtures) : At cost as on 31st March of the preceding year Additions/Adjustments during the year Deductions during the year 1478,15,22 171,28,10 1649,43,32 38,28,40 1611,14,92 Depreciation to date 1227,00,29 384,14,63 1335,49,29 265,07,66 1600,56,95 119,49,83 1481,07,12 1024,42,34 456,64,78

Je<e& kes oewjeve keewefleeeb

legueve-he$e keer leejerKe leke cetueeme ke Hes Hej oer ieF& Deeefmleeeb (Deveg<ebieer kees yebo kejves hej Deefpe&le) ueeiele Hej legueve-he$e keer leejerKe leke cetue eme pees[ (I, I ke, II SJeb II ke)

II A Leased Assets [Acquired on winding up of a subsidiary] At cost Depreciation to date Total (I, II and IIA) 13,95,89 13,95,89 2375,50,64 13,95,89 13,95,89 2490,14,80

III hetbpeer-keee& eieeflehej (hes hej ueer ieeer III Capital-Work-in progress (Leased Assets) net of Deeefmleeeb) eeJeOeeve kee Meg Provisions

2375,50,64

37,32 2490,52,12

kegue (I, II, IIA and III)

Total (I, II, IIA and III)

127

mecesefkele legueve-he$e keer Devegmetefeeeb/ Schedules to Consolidated Balance Sheet

(000s Devebefkele omitted) 31 ceee&, 2008 kees 31 ceee&, 2009 kees

As on 31st March 2009 . Rs. SCHEDULE - 11 . Rs. As on 31st March 2008 . Rs. . Rs.

Devegmeteer - 11 Deve Deeefmleeeb I Devlej keeee&uee meceeeespeve (Meg) II GHeefele yeepe III Deefiece kej Yegieleeve/eesle Hej kej keewleer IV Deefiece kej Yegieleeve/eesle Hej kej keewleer V DeemLeefiele kej Deeefmleeeb (Meg) VI Deve pees[ (I mes VI)

OTHER ASSETS I Inter-Office Adjustments (Net) II Interest Accrued III Tax paid in advance/tax deducted at source IV Stationery and Stamps V Deferred Tax assets (Net) VI Others Total (I to VI) SCHEDULE - 12 1767,75,97 995,37,91 7,30,57 44,59,26 1813,35,18 4628,38,89 666,33,03 1644,98,20 787,92,21 8,53,28 53,41,78 1236,31,06 4397,49,56

Devegmeteer - 12 Deekeefmceke oseleeSb I oeJes efpevnW $e+Ce vener ceevee ieee

II DeebefMeke egkelee efveJesMeeW kes efueS oselee

CONTINGENT LIABILITIES I Claims not acknowledged as debts II Liability for partly paid Investments 1313,47,59 19,63,09 1239,50,84 207,49,98

III yekeeee Jeeeoe efJeefvecee mebefJeoeDeeW kes III Liability on account of outstanding forward exchange keejCe oselee contracts IV ieenkeeW keer Deesj mes oer ieF& ieejbefeeb IV Guarantees given on behalf of constituents : 6338,74,76 3253,00,34

48186,85,96

56492,49,48

a) In India ke) Yeejle ceW b) Outside India Ke) Yeejle mes yeenj V mJeerke=efleeeb, Hejebkeve Deewj Deve oeefelJe V Acceptances, Endorsements and Other Obligations VI Deekeefmceke oselee keer Deve ceoW VI Other items of contingent liability Total ( I to VI)

4785,97,53 9591,75,10 8752,76,98 5866,21,85 73730,70,57 2158,73,87 6944,71,40 6865,70,06 10845,35,36 82595,27,12

pees[ (I mes VI)

128

mecesekf ele ueeYe Je neefve uesKes keer Devegmeteeeeb / Schedules To Consolidated Profit & Loss Account f

mecesefkele ueeYe Je neefve uesKes keer Devegmetefeeeb

Schedules to Consolidated Profit & Loss Account
(000s omitted) Year Ended 31st March, 2009 Rs. SCHEDULE - 13 Rs. Rs. Year Ended 31st March, 2008 Rs.

Devegmeteer - 13 Deefpe&le yeepe SJeb ueeYeebMe

I DeefieceeW/efyeueeW Hej yeepe/yee II efveJesMe Hej Deee III Yeejleere efjpeJe& yeQke Mes<e Deewj Deve

INTEREST AND DIVIDENDS EARNED I Interest/Discount on Advances/ Bills II Income on Investments III Interest on Balances with Reserve Bank of India and other Inter-Bank Funds IV Others TOTAL 11480,86,74 3416,69,57 8621,97,26 2850,96,20

Devlej yeQke efveefOeeeW hej Mes<e hej yeepe

IV Deve

468,38,36 181,61,43 15547,56,10

590,01,59 101,29,46 12164,24,51

pees[
SCHEDULE - 14

Devegmeteer - 14 Deve Deee

I keceerMeve, efJeefvecee SJeb oueeueer

OTHER INCOME I Commission, Exchange and Brokerage 796,82,42 588,56,89

II Yetefce, YeJeve Deewj Deve DeeefmleeeW keer efyeeer II Profit on sale of Land, Buildings and Other Assets Hej ueeYe (Meg) (Net) III efJeefvecee uesve-osve Hej ueeYe (Meg) IV efveJesMe keer efJeeer Hej ueeYe (Meg) V efveJesMe kes Hegvecet&uebekeve Hej ueeYe (Meg) V efJeefJeOe Deee III Profit on Exchange Transactions (Net) IV Profit on sale of Investments(Net) V Profit on revaluation of Investments (Net) V Miscellaneous Income TOTAL

(2,99) 376,72,46 901,39,10 (31,03) 770,76,09 2845,36,05

39,66 282,53,68 532,95,85 737,96,17 2142,42,25

pees[
SCHEDULE - 15

Devegmeteer - 15 yeepe Jee

I pecee jeefMeeeW Hej yeepe II Yeejleere efjpeJe& yeQke/ Devlej yeQke GOeej

INTEREST EXPENDED I Interest on Deposits II Interest on Reserve Bank of India/Inter-Bank Borrowings III Others TOTAL 9405,94,09 292,32,57 469,08,25 10167,34,91 7574,66,72 111,70,72 376,49,34 8062,86,78

jeefMeeeW Hej yeepe

III Deve

pees[

129

mecesekf ele ueeYe Je neefve uesKes keer Devegmeteeeeb / Schedules To Consolidated Profit & Loss Account f

(000s omitted) Year Ended 31st March, 2009 Rs. SCHEDULE - 16 Rs. Rs. Year Ended 31st March, 2008 Rs.

Devegmeteer - 16 Heefjeeueve Jee

I kece&eeefjeeW kees Yegieleeve SJeb Gvekes efueS

OPERATING EXPENSES I Payments to and Provisions for Employees II Rent, Taxes and Lighting III Printing and Stationery IV Advertisement and Publicity 2408,85,70 274,49,13 28,90,48 42,73,82 1951,27,08 237,05,35 24,15,33 35,11,49

HeeJeOeeve
II efkejeee, kej SJeb efJeegle III cegCe SJeb msMevejer IV efJe%eeHeve SJeb Heeej

V ke) Heeke=le DeeefmleeeW kes DeueeJee yeQke keer V a) Depreciation on Banks Property other than Leased mebHeefeeeW Hej cetueeme Assets

239,01,35 42,43 239,43,78 2,04,28

240,70,83 240,70,83 3,15,84

Ke) Heeke=le DeeefmleeeW Hej cetueeme

VI efveosMekeeW keer Heerme, Yees SJeb Jee VII uesKee Hejer#ekeeW keer Heerme SJeb Jee

b) Depreciation on Leased Assets VI Directors Fees, Allowances and Expenses VII Auditors Fees and Expenses (including Branch Auditors Fees and Expenses) VIII Law Charges IX Postages, Telegrams, Telephones etc. X Repairs and Maintenance XI Insurance XIIOther Expenditure TOTAL

(MeeKee uesKee-Hejer#ekeeW keer Heerme SJeb Jee meefnle)

VIII efJeefOe HeYeej IX [eke Jee, leej SJeb otjYee<e Deeefo X cejccele SJeb jKe jKeeJe XI yeercee XII Deve Jee

31,84,37 14,28,46 47,06,73 108,83,32 144,21,59 369,64,06 3712,35,72

24,28,54 13,39,34 52,88,04 61,87,77 118,81,93 389,84,37 3152,55,91

pees[
SCHEDULE - 17

Devegmeteer - 17 meneesieer FkeeFeeW ceW Deee kee DebMe

I DeejDeejyeer II Deve

SHARE OF EARNINGS IN ASSOCIATES I RRBs II Others Total 47,39,93 16,25,71 63,65,64 14,66,60 25,18,53 39,85,13

pees[

130

cenlJehetCe& uesKeebkeve veerefleeeb / Significant Accounting Policies

Devegmeteer 18: 31 ceee& 2009 kees meceehle Je<e& kes efueS mecesekele efJeeere efJeJejefCeeeW keer cenlJehetCe& uesKeebkeve veereleeeb: f f
Schedule 18 : Significant Accounting Policies on the Consolidated Financial Statements for the year ended 31st March 2009
1. mecesefkele efJeeere efJeJejefCeeeb Deewj leweej kejves kee DeeOeej :
1. 1.1 Basis of Preparation of Consolidated Financial Statements: Consolidated Financial Statements (CFS) of the Bank (Parent), its subsidiaries and associates are drawn up on historical cost basis and conform in all material aspects to statutory provisions and practices prevailing in India in respect of Indian offices / branches and respective foreign countries in respect of foreign offices / branches, unless otherwise stated. The preparation of financial statements requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities) as of date of the financial statements and the reported income and expenses for the reporting period. Management believes that the estimates used in the preparation of the financial statements are prudent and reasonable. Consolidation Procedure: The Consolidated Financial Statements are prepared in accordance with Accounting Standard (AS)-21 Consolidated Financial Statements issued by the Institute of Chartered Accountants of India. The financial statements of the Parent and its subsidiaries are combined on a line by line basis by adding together sums of assets, liabilities, income and expenses, after eliminating intra-group balances / transactions and resulting unrealized profit / loss. In case of difference in accounting policies, the Financial Statements of Subsidiaries and Associates are adjusted, wherever necessary, to conform to the Accounting Policies of the Parent. Investments in Associates are accounted for under the Equity Method as per Accounting Standard (AS) -23 Accounting for Investments in Associates in Consolidated Financial Statements issued by ICAI based on the audited Financial Statements of the associates. Minority interest in the CFS consists of the share of the minority shareholders in the net equity of the subsidiaries. The difference between cost to the Parent of its investment in the subsidiaries and the Parents portion of the equity of the subsidiaries is recognized as goodwill/ capital reserve. Foreign Currency Transactions: Accounting for transactions involving foreign exchange is done in accordance with Accounting Standard 11, The Effects of Changes in Foreign Exchange Rates, issued by The Institute of Chartered Accountants of India. As stipulated in AS-11, the foreign currency operations of the Parent and its Subsidiaries are classified as

1.1 yeQke (cetue), Fmekeer Deveg<ebefieeeW Deewj meneesieer FkeeFeeW keer mecesefkele efJeeere efJeJejefCeeeb HejcHejeiele ueeiele kes DeeOeej Hej yeveeF& ieF& nQ Deewj meYeer JeemleefJeke HenuegDeeW kes meboYe& ceW, Yeejle ceW Yeejle keer MeeKeeDeeW/keeee&ueeeW kes efJe<ee ceW Deewj efJeosMeer MeeKeeDeeW/keeee&ueeeW kes efJe<ee ceW Heeeefuele meebefJeefOeke HeeJeOeeveeW nes. 1.2 efJeeere efJeJejCeeW kees leweej kejves ceW efJeeere efJeJejCe keer leejerKe kees efjHees& keer ieF& Deeefmle SJeb oseleeDeeW (Deekeefmceke oseleeDeeW meefnle) leLee efjHees& keer ieF& DeJeefOe nsleg Deee SJeb Jee mebyebOeer jeefMe kees efjHees& kejves nsleg HeyebOeve kees keefleHee DevegceeveeW Deewj DeekeueveeW kees DeeOeej yeveevee He[lee nw. HeyebOeve kee efJeMJeeme nw efke efJeeere efJeJejCe kees leweej kejves kes efueS Heegkele Deekeueve efJeJeskeHetCe& Deewj Gefele nw. 2. meceskeve Heefeee :

1.2

2. 2.1

2.1 mecesefkele efJeeere efJeJejefCeeeb, Fvmerdet Dee]@He ee&[& SkeeGbWdme Dee]@He FefC[ee eje peejer uesKeebkeve ceeveke (S Sme)-21 mecesefkele efJeeere efJeJejefCeeeb kes DevegHe leweej keer ieF& nQ. yeQke leLee Fmekeer Deveg<ebefieeeW keer efJeeere efJeJejefCeeeb eceevegmeej (ueeFve yee@e ueeFve) efJeefYevve Meer<eeX kees HejmHej pees[les ngS pewmes DeeefmleeeW, oseleeDeeW, Deee SJeb Jee kee pees[, mecesefkele keer ieF& nQ. Gkele meceskeve Fv^eiegHe Mes<eeW/mebJeJenejeW SJeb HeefjCeecele: Jemetue ve efkeS ieS ueeYe/neefve kees kece kejles ngS efkeee ieee nw. 2.2 uesKeebkeve veerefleeeW ceW Devlej nesves keer efmLeefle ceW Deveg<ebefieeeW SJeb meneesieer FkeeFeeW keer efJeeere efJeJejefCeeeW kees, peneb keneR DeeJeMeke nes, cetue keer uesKee-veerefleeeW kes DevegHe meceeeesefpele efkeee ieee nw. 2.3 meneesieer mebmLeeDeeW ceW efveJesMe kee uesKeebkeve uesKee Hejeref#ele efJeeere efJeJejefCeeeW kes DeeOeej Hej DeeF&meerSDeeF& eje peejer DekeeGbefbie Hee@j FveJesmceW Fve SmeesefmeSdme Fve kevemeeefue[ss[ HeeFveWefMeeue msceWdme S Sme 23 FefkeJeer HeCeeueer kes DevegHe efkeee ieee nw.

2.2

2.3

2.4

2.4 mecesefkele efJeeere efJeJejefCeeeW kes ceeFveesefjer Fvjsm ceW Deveg<ebefieeeW keer Meg FefkeJeer ceW ceeFveesefjer MesejOeejkeeW kes DebMe meceeefnle nw.
2.5

2.5 cetue mebmLee eje Fmekeer Deveg<ebefieeeW ceW efkeS ieS efveJesMe keer ueeiele Deewj Deveg<ebefieeeW ceW FefkeJeer ceW cetue mebmLee kes efnmmes keer ueeiele Deblej kees ieg[efJeue/
3. 3.1

3.

efJeosMeer cege mebJeJenej :

3.1 efJeosMeer cege mes mebyebefOele mebJeJenejeW kee uesKeekejCe Yeejleere meveoer uesKeekeej mebmLeeve eje efJeosMeer cege oj ceW HeefjJele&veeW kes HeYeeJe Hej peejer uesKee ceeveke
3.2

3.2 uesKee ceeveke Sme-11 kes Heeespeve kes efueS yeQke kes cetue SJeb Deveg<ebieer efJeosMeer cege HeefjeeueveeW kees (ke) Skeerke=le Heefjeeueve SJeb (Ke) He=Leke HeefjeeueveeW

131

cenlJehetCe& uesKeebkeve veerefleeebb

Dee@HeMeesj yeQefkebie FkeeFeeW, Deveg<ebefieeeW kees He=Leke Heefjeeueve SJeb HeefleefveefOe keeee&ueeeW kees Skeerke=le Heefjeeueve SJeb HeefleefveefOe keeee&ueeeW kees Skeerke=le

a) Integral Operations and b) Non Integral Operations. All Overseas Branches, Offshore Banking Units, Subsidiaries of Parent are treated as Non Integral Operations; and Domestic Operations in Foreign Exchange and Representative Offices are treated as Integral Operations. 3.3 Translation in respect of Integral Operations: a) b) The transactions are initially recorded on weekly average rate as advised by FEDAI. Foreign Currency Assets and Liabilities (including contingent liabilities) are translated at the closing spot rates notified by FEDAI at the end of each quarter. The resulting exchange differences are recognized as income or expenses and are accounted through Profit & Loss Account. Any reversals / payment of foreign currency assets & liabilities is done at the weekly average closing rate of the preceding week and the difference between the outstanding figure and the amount for which reversal / payment is made, is reflected in Profit and Loss Account. Assets and Liabilities (including contingent liabilities) are translated at the closing spot rates notified by FEDAI at the end of each quarter. Income and Expense are translated at quarterly average rate notified by FEDAI at the end of each quarter. The resulting exchange differences are not recognized as income or expense for the period but accumulated in a separate account Foreign Currency Translation Reserve under the head Revenue Reserve, till the disposal of the net investment.

3.3 Skeerke=le HeefjeeueveeW kes mebyebOe ceW mebJeJenej (ke) mebJeJenejeW kees HeeLeefceke leewj Hej Hes[eF& eje metefele keer ieF& Deewmele meeHleeefnke ojeW Hej efjkee[& ieee nw. (Ke) efJeosMeer cege efJeefvecee mes mebyebefOele Deeefmle SJeb oseleeDeeW (Deekeefmceke oseleeDeeW meefnle) kees Hes[eF& eje Heleske efleceener kes Deble ceW metefele

c)

ieF& nw leLee FvnW leovegmeej ueeYe neefve Keeles kes eje uesKeebkeve efkeee ieee nw. efJeosMeer cege Deeefmle oseleeDeeW mebyebOeer efkemeer Yeer Yegieleeve DeLeJee efjJeme&ue kees efHeues meHleen keer Deewmele keueesefpebie ojeW kes DeeOeej Hej efkeee ieee nw leLee yekeeee jeefMe SJeb Gme jeefMe efpemekes efueS Yegieleeve efkeee ieee nw/efjJeme&ue efkeee ieee nw kes yeere kes Deblej kees ueeYe neefve Keeles ceW oMee&ee ieee nw. 3.4 He=Leke HeefjeeueveeW kes mebyebOe ceW mebJeJenej (ke) DeeefmleeeW SJeb oseleeDeeW (Deekeefmceke oseleeDeeW meefnle) kees Hes[eF& eje Heleske efleceener kes Deble ceW metefele keer ieF& keueesefpebie mHee ojeW Hej

3.4

Translation in respect of Non Integral Operations: a)

b)

(Ke) Deeceoveer SJeb KeeeX kees Hes[eF& eje Heleske efleceener kes Deble ceW metefele

c)

(ie) HeefjCeeceer efJeefvecee DeblejeW keer ieCevee Gme DeJeefOe kes efueS Deee DeLeJee Jee

3.5 Jeeeoe efJeefvecee mebefJeoeSb Yeejleere efJeosMeer cege JeeHeejer mebIe (Hes[eF&) kes efoMeeefveoxMeeW leLee SSme-11

3.5

Forward Exchange Contracts In accordance with the guidelines of FEDAI and the provisions of AS-11, outstanding forward exchange contracts in each currency are re-valued at the Balance Sheet date at the corresponding forward rates for the residual maturity of the contract. The difference between re-valued amount and the contracted amount is recognised as profit or loss, as the case may be.

keer efoveebke kee Hegvecet&ueebkeve efkeee peelee nw. Hegvecet&ueebkeve jeefMe leLee peelee nw. 4. efveJesMe
4. 4.1

Investments: The Investment portfolio of the Parent and its domestic subsidiaries is classified in accordance with Reserve Bank of India guidelines into: Held to Maturity comprising investments acquired with the intention to hold them till maturity. Held for Trading comprising investments acquired with the intention to trade. Available for Sale comprising investments not covered by (a) and (b) above i.e. those which are acquired neither for trading purposes nor for being held till maturity. Investments classified as Held to Maturity are carried at weighted average acquisition cost unless it is more than the face value, in which case the premium is

4.1 cetue mebmLee leLee Fmekeer Iejsuet Deveg<ebefieeeW kes efveJesMe Hees&Heesefueees kees Yeejleere efj]peJe& yeQke kes efoMee efveoxMeevegmeej efvecveevegmeej Jeieeake=le efkeee ieee nw : (ke) HeefjHekeJelee leke Oeeefjle efveJesMe jeefMeeeW ceW HeefjHekeJelee leke jKeves kes GsMe mes HeeHle efveJesMe Meeefceue nQ. (Ke) JeeHeej nsleg Oeeefjle ceW Jes efveJesMe Meeefceue nQ efpevnW JeeHeej kes GsMe mes HeeHle efkeee ieee nw. (ie) efyeeer nsleg GHeueyOe ceW Jes efveJesMe Meeefceue nQ pees GHejeskele ke leLee Ke ceW Meeefceue veneR nQ DeLee&led pees ve lees JeeHeej kes GsMe mes HeeHle efkeS ieS nQ Deewj ve ner HeefjHekeJelee leke jKeves kes GsMe mes HeeHle efkeS ieS nQ. 4.2 HeefjHekeJelee leke Oeeefjle kes He ceW Jeieeake=le efveJesMeeW kees Yeeefjle Deewmele Deefpe&le ueeiele Hej efueee ieee nw, yeMelex Jen Debefkele cetue mes DeefOeke neW, Fme
(a) (b) (c)

4.2

132

Significant Accounting Policies

amortized over the period remaining to maturity.

efmLeefle ceW Heerefceece kees HeefjHekeJelee keer Mes<e DeJeefOe leke HeefjMeesefOele efkeee ieee nw. HeefjHekeJelee leke Oeeefjle kes He ceW Jeieeake=le efveJesMeeW ceW Ssmes ef[yeWej/yeeb[dme efueS DeefieceeW Deewj #es$eere ieeceerCe yeQkeeW ceW, ^s]pejer efyeueeW, keceefMe&eue HesHeme&, Fbefoje efJekeeme-He$e, efkemeeve efJekeeme He$e Deewj pecee HeceeCe He$e, pees mebye jeefMe Hej cetueebefkele efkeS peeles nQ, ceW efveJesMeeW Hej ueeiet Deeefmle JeieeakejCe Deewj HeeJeOeeve mebyebOeer Yeejleere efj]peJe& yeQke kes efJeJeskeHetCe& ceeveob[ ueeiet kejles ngS HeeJeOeeve efkeee ieee nw. Deveg<ebefieeeW leLee mebegkele GeceeW (Yeejle leLee efJeosMe ceW) ceW efveJesMe kees DeefOeienCe ueeiele ceW mes cetueeme (DemLeeeer Heke=efle kes DeueeJee) jeefMe kees kece kej cetueebefkele efkeee peelee nw. 23.08.2006 kes Heeele JeermeerSHe keer FkeeFeeW ceW yeQke kes efveJesMe kees eejbefYeke 3 Je<eeX keer DeJeefOe kes efueS SeerSce mebJeie& cesb Jeieeake=le efkeee ieee Lee leLee ueeiele Hej cetue jKee ieee Lee. mebefJeleCe keer leeefjKe mes 3 Je<e& Heeele, Fvnsb SSHeSme ceW efMeHe kej efoee ieee leLee ceeveoC[eW kes Devegmeej yeepeej kees ceeke& efkeee ieee nw. 4.3 HeefjHekeJelee Hej Oeeefjle kes He ceW Jeieeake=le efveJesMeeW keer efyeeer Hej ueeYe/neefve kees mebyebeOele efveJesMeeW keer Yeeefjle Deewmele ueeiele/yener cetue kes DeeOeej Hej ueeYe SJeb neefve f Keeles ceW Debekf ele efkeee peelee nw SJeb HeefjHekeJelee Hej Oeeefjle JeieeakejCe ceW mebyebeOele f efveJesMeeW kes yener cetue kes mecelegue ueeYe (Meg kej SJeb meebeJeefOeke efveefOe) kees Heejef#ele f Hetpeer Keeles ceW efJeefveeesepele efkeee peelee nw. b f 4.4 JeeHeej kes efueS Oeeefjle SJeb efyeeer kes efueS GHeueyOe kes He ceW Jeieeake=le efveJesMe yeepeej efmeHeJeej efeefle efkeee ieee nQ leLee legueve He$e ceW Heleske esCeer ceW oMee&S ieS HeefjCeeceer Meg cetueeme eefo keesF& nw, kees ueeYe neefve Keeles ceW mLeeve efoee ieee nw. peye efke Meg cetueJe=ef eefo keesF& nes, kees es[ efoee ieee nw. 4.5 SeSHeer mebJeie& kes lenle ^spejer efyeueeW ceW Heer[er eje efkeee ieee efveJesMe kees Ieesef<ele SHeDeeF&SceSce[erS cetueeW kes DeeOeej Hej efleceener DeeOeej Hej yeepeej cetue kees yener ceW Debefkele efkeee ieee nw leLee Meg [sefeefMeSMeve, eefo keesF& nw lees, Gmes ueeYe leLee neefve Keeles ceW oMee&ee ieee nw peyeefke Meg SefeefMeSMeve, eefo keesF& nw lees, vepej Deboepe kej efoee ieee nw. 4.6 iewj efve<Heeefole HeefleYetefleeeW kes mecyebOe ceW Deee kees ceeve veneR efkeee peelee nw Deewj Fve HeefleYetefleeeW kes cetue ceW eme kes efueS Yeejleere efj]peJe& yeQke kes efoMeeefveoxMeevegmeej GHeegkele HeeJeOeeve efkeee ieee nw. 4.7 efveJesMe keer DeefOeienCe ueeiele, HeeHle eeslmeenve jeefMe leLee eb Sb[ Heer keceerMeve, oueeueer, mecHe [deter kes yeeo keer ueeiele nw.
4.8

Investments classified as Held to Maturity includes debentures / bonds which are deemed to be in the nature of / treated as advances, for which provision is made by applying the Reserve Bank of India prudential norms of assets classification and provisioning applicable to advances, and Investments in Regional Rural Banks, Treasury Bills, Commercial Papers, Indira Vikas Patras, Kisan Vikas Patras and Certificates of Deposit which have been valued at carrying cost. Investments in subsidiaries and joint ventures (both in India and abroad) are valued at acquisition cost less diminution, other than temporary in nature. Banks investments in units of VCFs made after 23.08.2006 are classified under HTM category for initial period of three years and are valued at cost. After period of three years from date of disbursement, it is shifted to AFS and marked-to-market as per norms. 4.3 Profit / Loss on sale of investments classified as Held to Maturity is recognized in the Profit & Loss account based on the weighted average cost / book value of the related investments and an amount equivalent of profit (Net of taxes and statutory reserve) on sale of investments in Held to Maturity classification is appropriated to Capital Reserve Account. Investments classified as Held for Trading and Available for Sale are marked to market, scrip-wise and the resultant net depreciation if any in each category disclosed in the Balance Sheet is recognized in the Profit and Loss Account, while the net appreciation, if any, is ignored. Investments made by the PD in Treasury Bills under HFT category are to be marked-to-market on quarterly basis based on the FIMMDA prices declared and the resultant net depreciation if any, is recognized in the Profit and Loss Account, while the net appreciation, if any, is ignored. In respect of non-performing securities, income is not recognized and appropriate provision is made for depreciation in the value of such securities as per Reserve Bank of India guidelines. Cost of acquisition of Investments is net of incentives, front-end fees and commission. For the purpose of valuation of quoted investments in Held for Trading and Available for Sale categories, the market rates/quotes on the Stock exchanges, the rates declared by Primary Dealers Association of India (PDAI) / Fixed Income Money Market and Derivatives Association (FIMMDA) are used. Investments for which such rates / quotes are not available are valued as per norms laid down by Reserve Bank of India, which are as under: a b Government / Approved securities On Yield to Maturity basis. Equity Shares, PSU and Trustee shares At book value as per the latest Balance Sheet

4.4

4.5

4.6

4.7

4.8 JeeHeej kes efueS Oeeefjle leLee efyeeer kes efueS GHeueyOe esCeer kes efveJesMeeW kes cetueebkeve kes efueS yee]peej me@ke SkemeeWpe ceW GodOe=le ojW HeeFcejer [erueme& SmeesefmeSMeve Dee@He FefC[ee (Heer[erSDeeF&) efHekem[ Fvkece ceveer ceekex SC[ [sefjJesefJme SmeesefmeSMeve (SHeDeeF&SceSce[erS) eje Ieesef<ele ojeW kee GHeeesie efkeee ieee nw. efpeve efveJesMeeW kes efueS Ssmeer ojW / GodOe=le ojbs GHeueyOe veneR nQ, Gvekee cetueebkeve Yeejleere efj]peJe& yeQke (DeejyeerDeeF&) eje efveOee&efjle ceeveoC[eW kes Devegmeej efkeee ieee nw pees efvecveevegmeej nQ :ke. mejkeejer/Devegceeseole HeeleYeteleeeb - HeefjHekeJelee HeeleHeue kes DeeOeej Hej f f f f Ke. FefkeJeer Mesej, HeerSmeet SJeb ^mer Mesej - Deeleve legueveHe$e (12 ceen

133

cenlJehetCe& uesKeebkeve veerefleeebb

ie. Ie. *

mes DeefOeke Hegjevee veneR) kes Devegmeej yener cetue Hej DeveLee .1 Heefle kebHeveer DeefOeceeve Mesej - HeefjHekeJelee HeefleHeue kes DeeOeej Hej HeerSmeet yee@v[ - mecegefele esef[ mHes[ ceeke&-DeHe kes meeLe HeefjHekeJelee HeefleHeue kes DeeOeej Hej cegegDeue Heb[ keer etefveW - Heb[ eje Heleske mkeerce kes mebyebOe ceW Ieesef<ele Deeleve HegveKe&jero cetue/Meg Deeefmle cetue SveSJeer Hej Gece Hetbpeer - uesKee Hejeref#ele legueve He$e kes Devegmeej Ieesef<ele SveSJeer peesefke 18 ceen mes peeoe Hegjeveer ve nes, eefo ueieeleej 18 ceen mes DeefOeke kes SveSJeer ee uesKee Hejeref#ele efJeeere Deebke[s GHeueyOe ve neW lees Heefle Gece Hetbpeer efveefOe (JeerSmeSHe) .1/4.9

(not more than 12 months old), otherwise Re.1 per company. c d e Preference Shares - On Yield to Maturity basis. PSU Bonds - On Yield to Maturity basis with appropriate credit spread mark-up. Units of Mutual Funds - At the latest repurchase price / NAV declared by the Fund in respect of each scheme. Venture Capital- Declared NAV or break up NAV as per audited Balance Sheet which is not more than 18 months old. If NAV/ audited financials are not available for more than 18 months continuously then at Re. 1/- per VCF.

e.

4.9 efveJesMe HeefleYetefleeeW kes He ceW GOeej oer ieF& jeefMeeeW kee efveJeue Yeeie nw Deewj FmeceW jsHees JeJemLeeDeeW kes Debleie&le GOeej oer ieF& HeefleYetefleeeb Meeefceue nQ. 4.10 efJeosMeer MeeKeeDeeW ceW efveJesMe kes mecyebOe ceW Yeejleere efj]peJe& yeQke DeLeJee cespeyeeve osMeeW kes efoMee-efveoxMeeW kee, oesveeW ceW mes pees DeefOeke ke"esj neW kee DevegHeeueve efkeee peelee nw. Ssmeer MeeKeeDeeW kes ceeceues ceW pees Ssmes osMeeW ceW efmLele nw peneb keesF& efJeefMe< efoMeeefveoxMe veneR nw, Yeejleere efj]peJe& yeQke kes efoMeeefveoxMeeW kee Heeueve efkeee peelee nw. 4.11 Fve esefCeeeW kes yeere HeefleYetefleeeW kes DeblejCe keer ieCevee, DeblejCe keer leejerKe kees Gmekeer DeefOeienCe ueeiele/yener cetue/ yeepeej cetue ceW mes pees Yeer kece nes, nw, kes efueS HeeJeOeeve efkeee ieee nw. 4.12 Hegve:Kejero/HeleeJeefle&le Hegve: Kejero yeQke ves Hegve: Kejero leLee HeleeJeefle&le Hegve: Kejero uesveosveeW kees uesKeebefkele kejves nsleg Yeejleere efj]peJe& yeQke eje yeleeF& ieF& Ske meceeve uesKee HeCeeueer kees DeHeveeee nw. jshees / efjJeme& jshees Keeles ceW Mes<e jeefMe kees efveJesMe Keeles ceW Mes<e jeefMe keer SJepe ceW meceeeesefpele keer ieF& nw~ (Yeejleere efj]peJe& yeQke kes meeLe eue efveefOe meceeeespeve eespevee (SueSSHe) kes Debleie&le ngS uesveosveeW kees es[kej). leodvegmeej, Hegve:Kejero/ HeleeJeefle&le Hegve: Kejero kes Debleie&le Kejeroer/yeseer ieF& HeefleYetefleeeW kees SkecegMle

Investments are net of securities lent and include securities borrowed under repo arrangements.

4.10 In respect of Investments at Overseas Branches, RBI guidelines or those of the host countries, whichever are more stringent are followed. In case of those branches situated in countries where no guidelines are specified, the guidelines of the Reserve Bank of India are followed. 4.11 The transfer of a security between these categories is accounted for at the acquisition cost / book value / market value on the date of transfer, whichever is the least, and the depreciation, if any, on such transfer is fully provided for. 4.12 REPO / Reverse REPO The Parent has adopted the Uniform Accounting Procedure prescribed by the RBI for accounting of Repo and Reverse Repo transactions [other than transactions under the Liquidity Adjustment Facility (LAF) with the RBI]. Accordingly, the securities sold / purchased under Repo / Reverse Repo are treated as outright sales / purchases and accounted for in the Repo / Reverse Repo Accounts and the entries are reversed on the date of maturity. Costs and revenues are accounted for as interest expenditure / income, as the case may be. Balance in Repo/ Reverse Repo Account is adjusted against the balance in the Investment Account. Securities purchased/ sold under LAF with RBI are debited/ credited to Investment Account and reversed on maturity of the transaction. Interest expended/ earned thereon is accounted for as expenditure/ revenue. 4.13 Derivatives The Parent presently deals in interest rate and currency derivatives. The interest rate derivatives dealt with by the Parent are Rupee Interest Rate Swaps, Foreign Currency interest rate swaps and forward rate agreements. Currency Derivatives dealt with by the Parent are Options and Currency swaps. Based on RBI guidelines, Derivatives are valued as under: The hedge / non-hedge (market making) transactions are recorded separately. Hedging derivative are accounted on an accrual basis. Trading derivative positions are marked-to-market (MTM) and the resulting losses, if any, are recognized in the Profit and Loss Account. Profit, if any, is not recognized. Income and Expenditure

ceevee peelee nw leLee Hegve: Kejero/HeleeJeefle&le Hegve: Kejero KeeleeW ceW uesKeebefkele efkeee peelee nw leLee meejer HeefJeef<eeb HeefjHekeJelee efleefLe kees efjJeme& kej oer peeleer nw. eLeeefmLeefle Devegmeej ueeiele leLee jepemJe keer ieCevee yeepe Jee/Deee kes efnmeeye mes keer ieF&. Yeejleere efj]peJe& yeQke kes meeLe eueefveefOe meceeeespeve megefJeOee kes lenle Kejeroer / efyeeer keer ieF& eefleYetefleeeb efveJesMe Keeles ceW veeces / pecee keer peeleer nw leLee FvnW mebJeJenej keer heefjhekeJelee hej efjJeme& kej efoee peelee nw. Fve hej Jee / Deefpe&le 4.13 [sefjJesefJme : yeQke Jele&ceeve ceW yeepe ojeW leLee cege [sefjefJeefJme ceW [erue kejlee nw. yeQke eje JeJeneefjle yeepe oj [sefjefJeefJme ceW Heee yeepe oj mJewHe, efJeosMeer cege yeepeoj mJesHe leLee HeejJe[& js SieerceWdme Meeefceue nQ. yeQke eje JeJenej ceW ueees peeves Jeeues cege [sefjJesefJme ceW Dee@HMeve leLee cege mJesHme nQ. Yeejleere efj]peJe& yeQke kes efoMeeefveoxMeeW kes DeeOeej Hej, [sefjJesefJme kee cetueebkeve efvecveevegmeej efkeee peelee nw : JeJemLee yeeeJe/iewj JeJemLee yeeeJe (ceekex cesefkebie) mebJeJenej Deueie-Deueie efjkee[& efkees peeles nQ. JeJemLee yeeeJe [sefjJesefJme "erke-"erke DeeOeej Hej uesKeebefkele efkees peeles nQ. ^sef[bie [sefjJesefJe HeesefpeMevme ceeke&d [ t ceekex (SceerSce)

134

Significant Accounting Policies

nQ leLee efkemeer Yeer Hekeej keer neefve, ueeYe-neefve Keeles ceW ope& keer peeleer nw. efkemeer Yeer Hekeej kee ueeYe ope& veneR neslee. yeepe oj mJewHe mes mebyebefOele Deee leLee Jee mecePeewlee efleefLe kees ope& neslee nw. ^sef[bie mJewHme keer meceeefHle Hej ueeYe/neefve,
5. 5.1

relating to interest rate swaps are recognized on the settlement date. Gains / losses on termination of the trading swaps are recorded on the termination date as income / expenditure. Interest Rate Swaps: The interest rate swap transactions for hedging are accounted for on accrual basis and transactions for trading are marked to market at fortnightly intervals in line with the Reserve Bank of India guidelines. For the purpose of valuation, the fair value of the total swap is computed on the basis of the amount that would be receivable or payable on termination of the transactions of the swap agreements as on the Balance Sheet date. Losses arising therefrom, if any are fully provided for while the profits, if any, are ignored. Advances: Advances of the Parent and Subsidiaries are classified as Standard, Sub-standard, Doubtful or Loss assets and Provision for losses are made on these assets as per Prudential Norms of Reserve Bank of India. In respect of Advances made in overseas branches and overseas subsidiaries, Advances are classified in accordance with stricter of the Prudential Norms prescribed by the Reserve Bank of India or local laws of the host country in which advances are made. Advances are net of specific loan loss provisions, interest suspense, amount received and held in suitfiled Sundry Deposit and Claims Received. In respect of Rescheduled / Restructured accounts, Provision is made for the sacrifice of interest measured in present value terms as per Reserve Bank of India guidelines. The said provision is included under the head Other Liabilities. In case of financial assets sold to Asset Reconstruction Company (ARC) / Securitization Company (SC), if the sale is at a price below the net book value (NBV), (i.e. Book value less provisions held) the shortfall is debited to the Profit and Loss Account. If the sale value is higher than the NBV, the surplus provision is not reversed but is utilised to meet the shortfall /loss on account of Sale of other non-performing financial assets. Fixed Assets: Premises and other fixed assets are stated at historical cost except those premises, which have been re-valued. The appreciation on such revaluation is credited to Capital Reserve and the depreciation provided thereon is deducted therefrom. Premises includes building under construction and land. Reserves and Surplus: Revenue and other Reserves include Statutory Reserves are created by foreign branches as per applicable local laws of the respective countries.

5 yeepe oj mJewHe 5.1 nsefpebie kes efueS yeepe oj mJewHe keejesyeejeW kees GHeefele DeeOeej Hej uesKeebefkele efkeee ieee nw leLee JeeHeej kes efueS uesveosveeW kees Yeejleere efj]peJe& yeQke kes
5.2

ieee nw. 5.2 cetueebkeve kes efueS, mJewHe keer JeemleefJeke cetue keer Gme jeefMe Hej ieCevee keer peeleer nw pees legueve-He$e keer efleefLe kees mJewHe kejejeW kes uesveosve kes meceeHle nesves Hej HeeHle ee ose neWies, kegue nesves Jeeueer neefveeeW, eefo keesF& nw, keer meceteer jeefMe kes efueS HeeJeOeeve efkeee ieee nw, peyeefke ueeYeeW kees es[ efoee ieee nw. 6 Deefiece

6 6.1

6.1 cetue mebmLee leLee Fmekeer Iejsuet meneesieer mebmLeeDeeW kes Deefiece ceeveke, DeJeceeveke, mebefoiOe SJeb neefve DeeefmleeeW Hej HeeJeOeeve Yeejleere efj]peJe& yeQke eje efveOee&efjle efJeJeskeHetCe& ceeveoC[eW DeLeJee cespeyeeve osMe efpemeceW Deefiece efoee ieee nw, peneb kener ueeiet nes, kes mLeeveere efveeceeW ceW mes pees DeefOeke ke"esj . 6.2 Deefiece jeefMe, Gevle Keeles kes yeepe, Jeeoiemle efJeefJeOe pecee KeeleeW ceW HeeHle SJeb jKeer ieF& jeefMe, HeeHle keuesce Deewj iewj efve<Heeefole DeefieceeW kes efueS efkeS ieS HeeJeOeeve kes yeeo keer jeefMe nw. 6.3 Hegveefve&Oee&efjle/Hegveie&ef"le KeeleeW kes mebyebOe ceW Yeejleere efj]peJe& yeQke kes ceeie& efveoxMeeW kes Devegmeej ceewpetoe cetue MeleeX ceW Deebkes iees yeepe neefveeeW kes efueS HeeJeOeeve efkeee ieee nw. Gme HeeJeOeeve kees Deve oseleeeW Meer<e& kes Debleie&le Meeefceue efkeee ieee nw. 6.4 Deeefmle Hegveie&"ve kebHeveer (SDeejmeer)/peebe kebheveer (Smemeer) kees yeseer ieF& DeeefmleeeW kes ceeceues ceW eefo efyeeer Meg yener cetue (Sveyeer Jeer) (DeLee&le yener cetue IeeSb Oeeefjle eeJeOeeve) mes kece cetue Hej keer ieF& nes lees neefve (keceer) kees ueeYe neefve Keeles ceW veeces efkeee peelee nw. eefo efyeeer cetue, Meg yener cetue mes peeoe nw lees Deefleefjkele HeeJeOeeve jeefMe kees efjJeme& vener efkeee peelee nw. Deefheleg Fmekee Gheeesie kejves kes efueS efkeee peelee nw. 7 Deeue Deeefmleeeb 7.1 Hegvecet&ueebefkele HeefjmejeW kees es[kej, Heefjmej Je Deve Deeue Deeefmleeeb meeceevele: HejcHejeiele ueeiele Hej ueer ieF& nQ, Hegvecet&ueebkeve Hej ngF& Je=ef kees Hetbpeeriele Heejef#ele efveefOe ceW pecee efkeee ieee nw. Ssmeer ye{er ngF& jeefMe Hej cetueeme nsleg efkeS ieS HeeJeOeeve kees FmeceW mes Iee efoee peelee nw. 7.2 Heefjmej ceW Yetefce leLee efvecee&CeeOeerve YeJeve kee meceeJesMe nQ.
8. 7. 7.1

6.2

6.3

6.4

7.2

Heejef#ele efveefOeeeb SJeb DeefOeMes<e jepemJe SJeb Deve Heejef#ele efveefOeeeW ceW mecye osMeeW ceW Heeefuele mLeeveere keevetveeW kes Devegmeej efJeosMeer MeeKeeDeeW eje efveefce&le meebefJeefOeke Heejef#ele efveefOeeeW kees Meeefceue efkeee ieee nw.

135

cenlJehetCe& uesKeebkeve veerefleeebb

jepemJe kee efveOee&jCe :

9. 9.1

Revenue Recognition: Income / expenditure is recognised on accrual basis, unless otherwise stated. In case of foreign offices, income is recognised as per the local laws of the country in which the respective foreign office is located. In view of uncertainty of collection of income in cases of non-performing assets/ Investments, such income is accounted for only on realization in terms of RBI guidelines. Income from Fees, Commission other than on Government business, Commission on Guarantees, Exchange, Brokerage and interest on Overdue Bills/ Advance Bills are accounted for on actual realization. Dividend on shares in Subsidiaries, joint ventures and associates is accounted on actual realisation basis. Retirement Benefits to Employees:

9.1 peye leke DeveLee GuuesefKele ve nes, Deee kee efveOee&jCe GHeee DeeOeej Hej efkeee peelee nw. efJeosMeer keeee&ueeeW kes ceeceues ceW mecye osMe peneb efJeosMeer keeee&uee efmLele nw, mLeeveere efveeceeW kes lenle Deee kee efveOee&jCe efkeee peelee nw.
9.2

9.2 iewj efve<Heeefole DeefieceeW leLee efveJesMeeW kes ceeceueeW ceW Deee keer Jemetueer keer Deefveefelelee kes keejCe Ssmeer Deee Yeejleere efj]peJe& yeQke ceeie&efveoxMeeW kes Devegmeej kesJeue Jemetue nesves Hej ner uesKeebefkele keer ieF& nw.
9.3

9.3 MegukeeW mes HeeHle Deee mejkeejer keejesyeej kees es[kej keceerMeve, efJeefvecee, oueeueer, Kejeros iees efyeueeW Hej yee leLee Deefleose efyeueeW/Deefiece efyeueeW Hej yeepe kees JeemleefJeke Jemetueer Hej efnmeeye ceW efueee ieee nw. 9.4 Deveg<ebefieeeW mebegkele Gece leLee meneesieer FkeeFeeW kes MesejeW Hej ef[efJe[W[ JeemleefJeke HeeefHle kes DeeOeej Hej efnmeeye ceW efueS peeSbies. 10 kece&eeefjeeW kees mesJee efveJe=efe ueeYe :
9.4 10

10.1 YeefJe<e efveefOe Keeles ceW efkeS ieS eesieoeve kees ueeYe-neefve Keeles ceW efueee ieee nw. 10.2 ceevelee HeeHle ieseger Heb[ ceW leLee HeWMeve Heb[ ceW DebMeoeve leLee mebefele DeJekeeMeeW kes vekeoerkejCe SJeb Deefleefjkele mesJee-efveJe=efe ueeYeeW kes HeeJeOeeveeW kees GHeefele DeeOeej Hej ueeYe SJeb uesKeebefkele efkeee ieee nw. 11 cetueeme : 11.1 Yeejle ceW, kecHetj leLee SerSce kees es[kej, Deeue DeeefmleeeW Hej cetueeme kecHeveer DeefOeefveece, 1956 keer Devegmeteer XIV ceW efveOee&efjle ojeW Hej cetueeefmele yener cetue Heefle kes Devleie&le Heoeve efkeee ieee nw. 11.2 kebHetjeW kees es[kej Yeejle mes yeenj Deeue DeeefmleeeW Hej cetueeme cespeyeeve osMe keer ceewpetoe Heefle SJeb mLeeveere keevetveeW kes Devegmeej Heoeve efkeee ieee nw. 11.3 kecHetjeW Hej cetueeme Yeejleere efj]peJe& yeQke kes efoMeeefveoxMeeW kes Devegmeej ms ueeFve efJeefOe mes 33.33% keer oj mes Heoeve efkeee ieee nw. kebHetj meeHeJesej peesefke ne[&Jesej kee DeefveJeee& Debie veneR nw, kee cetueeme Kejero Je<e& kes oewjeve ner kej efoee ieee nw. 11.4 SerSce Hej cetueeme 20% keer oj mes ms ueeFve efJeefOe mes Heoeve efkeee peelee nw. 11.5 HeefjJe&veeW Hej cetueeme kee mebHetCe& Je<e& kes efueS HeeJeOeeve efkeee ieee nw. peye efke yeses ieS/efvemleeefjle efkeS ieS Je<e& ceW cetueeme kee keesF& HeeJeOeeve veneR efkeee ieee nw. 11.6 Hee Yetefce kee Hes keer DeJeefOe kes oewjeve HeefjMeesOeve efkeee ieee nw. 12 DeeefmleeeW keer neefve : Deeue DeeefmleeeW Hej neefve, eefo keesF& nes (Hegvecet&ueebefkele DeeefmleeeW meefnle) kee efveOee&jCe Yeejleere meveoer uesKekeej mebmLeeve eje Fme mebyebOe ceW peejer uesKee ceeveke 28 (DeeefmleeeW keer #eefle) kes Devegmeej efkeee peelee nw. 13 Deee Hej kej : FmeceW Yeejleere meveoer uesKeekeej mebmLee (DeeF&meerSDeeF&) kes uesKeebkeve ceeveob[ 22 kes Devegmeej efveOee&efjle (mecye DeJeefOe kes efueS uesKee Deee leLee kejeesie Deee kes yeere efYevvelee mes kejeW kes HeYeeJe kees oMee&les ngS) Deeekej kes efueS HeeJeOeeve, efebpe yesefveefHe kej Deewj DeemLeefiele kej DeLeJee esef[ Meeefceue

10.1 Contribution to the Provident Fund is charged to Profit & Loss Account. 10.2 Contribution to recognized Gratuity Fund, Pension Fund and Provision for Encashment of accumulated leave and additional retirement benefits are made on actuarial basis and charged to Profit & Loss Account. 11 Depreciation:

11.1 Depreciation on Fixed Assets in India except Computers and ATMs, is provided under the written down value basis, at the rates prescribed in Schedule-XIV of the Companies Act, 1956. 11.2 Depreciation on Fixed Assets outside India except Computers is provided as per local laws or prevailing practices of the respective countries. 11.3 Depreciation on Computers is provided on Straight-Line Method at the rate of 33.33%, as per the guidelines of Reserve Bank of India. Computer software not forming an integral part of hardware is depreciated fully during the year of purchase. 11.4 Depreciation on ATMs is provided on Straight Line Method at the rate of 20%. 11.5 While depreciation on additions is provided for full year, no depreciation is provided in the year of sale / disposal. 11.6 Cost of leasehold land is amortized over the period of lease. 12 Impairment Of Assets: Impairment losses (if any) on Fixed Assets (including revalued assets) are recognized in accordance with the Accounting Standard 28 ("Impairment of Assets") issued in this regard by the Institute of Chartered Accountants of India and charged off to Profit and Loss Account. 13 Taxes on Income: This comprise of provision for Income tax, fringe benefit tax and deferred tax charge or credit (reflecting the tax effects of timing differences between accounting income and taxable income for the period) as determined in accordance with Accounting Standard 22 of ICAI.

136

Significant Accounting Policies

nQ. DeemLeefiele kej kes efueS HeeJeOeeve kees, Deeceoveer SJeb Kee& keer Gve ceoeW kes mebyebOe ceW pees efkemeer Ske DeJeefOe ceW efveOee&efjle nesleer nw Deewj pees Ske DeLeJee DeefOeke HejJeleea DeJeefOeeeW ceW HeleeJele&ve eesie nQ Hej efJeJeskeHetCe& veerefle kes DeOeOeerve efnmeeye ceW efueee peelee nw. DeemLeefiele kej DeeefmleeeW SJeb oseleeDeeW Hej kej keer ieCevee DeefOeefveeefcele kej ojeW Hej, Gve Je<eeX keer DeHesef#ele ojeW Hej keer peeleer nw efpeve Je<eeX ceW Fvekeer HeeefHle, efjJeme&ue DeLeJee efvemleejCe keer mebYeeJevee nesleer nw. DeemLeefiele kej oseleeDeeW SJeb DeeefmleeeW Hej kej keer ojeW ceW HeefjJele&ve kes HeYeeJe kees Gme DeJeefOe keer Deee efJeJejCeer, efpemeceW Ssmes HeefjJele&ve kees DeefOeefveeefcele efkeee ieee nes, ceW efnmeeye ceW efueee peelee nw. Deeekej kes efueS HeeJeOeeve DeeefmLeiele kejeW kes meceeeespeve kes yeeo mecye osMe keer meebefJeefOeke DeeJeMekeleeDeeW kes DevegHe efkeee peelee nw.
14

Deferred tax is recognised subject to consideration of prudence in respect of items of income and expenses those arise at one point of time and are capable of reversal in one or more subsequent periods. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the timing differences are expected to be received, settled or reversed. The effect on deferred tax assets and liabilities of a change in tax rates is recognised in the income statement in the period of enactment of the change. Provision for income tax is made in accordance with statutory requirements of the respective countries after adjustment for deferred taxes. Earnings Per Share: The Parent reports basic and diluted earnings per equity share in accordance with the Accounting Standard 20 ("Earnings Per Share") issued in this regard by the Institute of Chartered Accountants of India. Basic earning per equity share has been computed by dividing net income by the weighted average number of equity shares outstanding for the period. Diluted earning per equity share has been computed using the weighted average number of equity shares and dilutive potential equity shares outstanding during the period. 15 Provisions, Contingent Liabilities and Contingent Assets: As per the Accounting Standard 29 ("Provisions, Contingent Liabilities and Contingent Assets") issued in this regard by the Institute of Chartered Accountants of India, the Parent recognizes provisions only when it has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and when a reliable estimate of the amount of the obligation can be made. Contingent Assets are not recognized in the financial statements since this may result in the recognition of income that may never be realized. 16 Deferred Revenue Expenditure: In case of subsidiary, BOB Asset Management Co.Ltd., Deferred Revenue Expenditure is being written off over a period of five/ten years.

14

Heefle Mesej Depe&ve : yeQke eje DeHeves yesefmeke SJeb [eFuets[ Heefle F&efkeJeer Mesej Depe&ve kees Yeejleere meveoer uesKeekeej mebmLeeve kes Fme mebyebOe ceW peejer uesKee ceeveke 20 (Heefle Mesej Depe&ve) kes Devegmeej efjHees& efkeee ieee nw. yesefmeke Heefle Mesej Depe&ve keer ieCevee Meg Deee kees DeJeefOe kes efueS yekeeee Yeeefjle Deewmele F&efkeJeer MesejeW keer mebKee mes efJeYeeefpele kej ueer ieF& nw. [eFuets[ Heefle Mesej Depe&ve keer ieCevee Meg Deee kees Gme DeJeefOe kes efueS yekeeee Yeeefjle FefkeJeer MesejeW SJeb Fme DeJeefOe kes oewjeve [eeuets[ F&efkeJeer MesejeW keer mebKee ceW ieCevee keer ieF& nw.

15

HeeJeOeeve, Deekeefmceke oseleeSb Je Deekeefmceke Deeefmleeeb : Yeejleere meveoer uesKeekeej mebmLeeve kes Fme mebyebOe ceW peejer uesKee ceeveke 29 (Deekeefmceke oseleeDeeW SJeb Deekeefmceke DeeefmleeeW kes efueS HeeJeOeeve) kes Devegmeej yeQke eje Deekeefmceke oseleeDeeW SJeb Deekeefmceke DeeefmleeeW kes efueS HeeJeOeeve efJeiele ceW ngF& efkemeer Ievee mes GlHevve ngS Jele&ceeve oeefelJe kes efueS efkeee ieee nw. en mebYeJe nw efke Fme oeefelJe kes efvemleejCe kes efueS DeeefLe&ke mebmeeOeveeW keer DeeJeMekelee nes Deewj leye Fme oeefelJe nsleg jeefMe kee efJeMJemeveere cetueebkeve efkeee pee mekes. Deekeefmceke DeeefmleeeW kees efJeeere efJeJejCe ceW efnmeeye ceW veneR efueee ieee nw, keeeWefke Fme lejn keer Deee keer Jemetueer keYeer Yeer mebYeJe veneR nes mekeleer nw.

16

DeemLeefiele jepemJe Kee& : yee@ye Smes cewvepeceW keb. efue. Deveg<ebieer kes ceeceues ceW, DeemLeefiele jepemJe Kee& kees heeBe / ome Je<eex keer DeJeefOe kes efueS yeds Keeles ceW [euee pee jne nw.

137

mecesefkele efJeeere efJeJejefCeeeW hej vees

Devegmeteer - 19 : mecesefkele efJeeere efJeJejefCeeeW hej vees : 31 ceee& 2009 kees meceehle efJeeere Je<e&
Schedule-19 - Notes on the Consolidated Financial Statements for the year ended 31st March 2009
1. mecesefkele efJeeere efJeJejCeer (meerSHeSme) ceW yeQke (cetue mebmLee) leLee efvecveefueefKele Deveg<ebefieeeW/meneekeeW kes HeefjCeece Meeefceue nQ. osMe, peneb mJeeefcelJe efJeeceeve nw kee DevegHeele 31.03.09
1. The Consolidated Financial Statements (CFS) comprise the results of the Bank (Parent) and the following subsidiaries/Associates: Names of Subsidiaries Country of Proportion of Incorporation Ownership as on 31.03.09

1.1 Deveg<ebefieeeW kes veece

1.1

osMeere Deveg<ebefieeeb ke) yeQefkebie 1) vewveerleeue yeQke efue. Yeejle Ke) iewj yeQefkebie i) yee@ye kewefHeue ceekex efue. Yeejle ii) yee@ye kee[&me efue. Yeejle yee@ y e Smes cew v es p eceW keb . ef u e. iii) Yeejle (20.06.2008 leke) efJeosMeer Deveg<ebefieeeb : ke) yeQefkebie i) yeQke Dee@He ye[ewoe (yeeslmeJeevee) efue. yeeslmeJeevee ii) yeQke Dee@He ye[ewoe (kesvee) efue. kesvee iii) yeQke Dee@He ye[ewoe (egieeb[e) efue. egieeb[e iv) yeQke Dee@He ye[ewoe (nebiekeebie) efue. nebiekeebie (21.10.2008 leke) v) yeQke Dee@He ye[ewoe (iegeevee) DeeFSvemeer iegeevee vi) yeQke Dee@He ye[ewoe (lebpeeefveee) efue. lebpeeefveee yeQke Dee@He ye[ewoe ef$eveeroeo SJeb ef$eveeroeo vii) esyesiees efueefces[ SJeb esyesiees viii) yeQke Dee@He ye[ewoe (Ieevee) efue. Ieevee Ke) iewj yeQefkebie i) yee@ye (et kes) efue. egveeFs[ efkebie[ce
ii)

98.39% 100.00% 100.00% 100.00%

Domestic Subsidiaries a) Banking : i) The Nainital Bank Ltd. b) Non Banking: i) BOB Capital Markets Ltd.

India India

98.39% 100.00% 100.00% 100.00%

100.00% 86.70% 80.00% 100.00% 100.00% 100.00% 100.00%

100.00% 100.00%

ii) BOB Cards Ltd. India iii) BOB Asset Management Co. India Ltd. (Upto 20.06.2008) Overseas Subsidiaries: a) Banking : i) Bank of Baroda (Botswana) Ltd. Botswana ii) Bank of Baroda (Kenya) Ltd. Kenya iii) Bank of Baroda (Uganda) Ltd. Uganda iv) Bank of Baroda (Hong Kong) Ltd. HongKong (Upto 21.10.2008) v) Bank of Baroda (Guyana) Inc. Guyana vi) Bank of Baroda (Tanzania) Ltd Tanzania vii) Bank of Baroda Trinidad & Trinidad & Tobago ltd. Tobago viii) Bank of Baroda (Ghana) Ltd. Ghana b) Non Banking: i) BOB (UK) Ltd. United Kingdom ii) Baroda (New Zealand) Ltd. New Zealand

100.00% 86.70% 80.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ye[ewoe (vetpeerueQ[) efue.

vetpeerueQ[

1.2 meneesieer yeQke : uesKeeceeveke (Sme) - 23 kes Devegmeej efveJesMe nsleg mecesefkele efJeeere efJeJejCeer (meerSHeSme) ceW meceeefnle meneesieer yeQkeeW kes efJeJejCe efvecveefueefKele nQ :
Name

1.2 Names of Associates: The particulars of Associates considered in the CFS as per Accounting Standard (AS) 23 on Accounting for Investment in Associates in Consolidated Financial Statements are as under:

veece (ke) (Ke) (ie) (Ie) (*)

i) ii) iii) iv) v)

cetue mebmLee kee efnmmee (%)

Parents ownership Interest (%) 20% 25% 25% 49%

Fv[es peeefcyeee yeQke efueefces[ et er DeeF& Demes cesvespecesv kebHeveer efue. et er DeeF& ^mer kebHeveer ee. efue. ye[ewoe Heeeesefveej Demes cesvespecesv kebHeveer efue. (21.06.2008 mes) #es$eere ieeceerCe yeQke:ye[ewoe Gej eosMe ieeceerCe yeQke vewveerleeue-Deucees[e #es$eere ieeceerCe yeQke ye[ewoe jepemLeeve ieeceerCe yeQke ye[ewoe iegpejele ieeceerCe yeQke PeeyegDee-Oeej #es$eere ieeceerCe yeQke

a) b) c) d) e) i) ii)

Indo Zambia Bank Limited UTI Asset Management Company Ltd UTI Trustee Company Pvt Ltd. Baroda Pioneer Asset Management Co. Ltd. (from 21.06.2008) Regional Rural Banks:Baroda Uttar Pradesh Gramin Bank Nainital-Almora Kshetriya Gramin Bank

35% 35% 35% 35% 35%

iii) Baroda Rajasthan Gramin Bank iv) Baroda Gujarat Gramin Bank v) Jhabua-Dhar Kshetriya Gramin Bank

138

Notes on the Consolidated Financial Statements

2.

meneesieer FkeeFeeW ceW efveJesMe kee efJeJejCe

Sr. No. Particulars

2.

Particulars of the Investment in Associates:

(. kejes[ ceW / Rs. in Crores)

e. meb

efJeJejCe

31.03.2009 kees
Cost of Investment in Associates Goodwill on acquisition included in (a) above Capital reserve on acquisition included in (a) above Additions on account of revaluation reserve & FC translation reserve Share of post acquisition profits (Net) of Goodwill Investment as at 31st March (ab-c+d+e) Investment in India Investment outside India Total (g + h) 3. 3.1
As at 31.03.2009 478.42

31.03.2008 kees
As at 31.03.2008 392.24

a.

(ke) (Ke) (ie) (Ie) (*) (e) () (pe) (Pe) 3.

meneesieer FkeeFeeW ceW efveJesMe keer ueeiele GHejeskele (ke) ceW Meeefceue DeefOeienCe Hej meeKe GHejeskele (ke) ceW DeefOeienCe Hej Hetbpeer Heejef#ele efveefOe Hegvecet&ueebefkele Heejef#ele efveefOe Deewj SHemeer mebJeJenej Heejef#ele efveefOe kes KeeleW ceW HeefjJeOe&ve DeefOeienCe GHejevle ieg[ efJeue kes ueeYeeW (Meg) kee DebMe 31 ceee& kees efveJesMe (ke-Ke-ie + Ie + *) Yeejle ceW efveJesMe Yeejle kes yeenj efveJesMe kegue (* + e)

b. c. d. e. f. g. h. i.

184.12 25.27 2.22 136.02 407.27 376.42 30.85 407.27

184.12 78.92 287.04 253.18 33.86 287.04

Deveg<ebefieeeW /meneesieer FkeeFeeW keer efJeeere efJeJejefCeeeb :

Financial Statements of Subsidiaries / Associates The financial statements of the subsidiaries and associates have been drawn upto the same reporting date as that of the Parent i.e. 31st March 2009 except for Bank of Baroda (Uganda) Ltd., Bank of Baroda (Kenya) Ltd., Bank of Baroda (Ghana) Ltd. and Bank of Baroda (Tanzania) Ltd., which have been drawn upto 31st December 2008. As certified by the Management, there are no significant transactions or other events during 1st January 2009 to 31st March 2009 requiring adjustment therein. CFS for the year 2008-09 also includes audited accounts of Baroda Capital Markets (Uganda) Ltd, a wholly owned subsidiary of Bank of Baroda (Uganda) Ltd, which is a subsidiary of parent. The accounting policies of BOB Cards Ltd., Baroda Pioneer Asset Management Co. Ltd., UTI Asset Management Company Ltd. and UTI Trustee Company Ltd. on Fixed Assets and Provision of Depreciation, amortizations of Software is different from Parent. The accounting policy of Baroda Pioneer Asset Management Co. Ltd. for investments is different from Parent. Impact of the same is not given in the Consolidated Financial Statement, as the same is not ascertainable. CFS for the year 2008-09 of the parent also includes unaudited financial statements of subsidiaries viz Baroda(New Zealand) Ltd., Bank of Baroda(Botswana) Ltd. and Bank of Baroda(Trinidad and Tobago) Ltd., and the of associate Indo Zambia Bank Limited. The accounts of the following domestic subsidiaries for the year ended 31.3.2009 are subject to the comments of Comptroller & Auditor General of India under Section 619(4) of the Companies Act, 1956: 1) 2) BOB Capital Markets Ltd. BOB Cards Ltd.

3.1 Deveg<ebefieeeW leLee meneesieer FkeeFeeW keer efJeeere efJeJejefCeeeb yeQke Dee@He ye[ewoe (egieeb[e) efue., yeQke Dee]@He ye[ewoe (kesvee) efue., yeQke Dee]@He ye[ewoe (lebpeeefveee) efue. kees es[kej Gmeer efjHeesefie leejerKe kes Devegmeej leweej keer ieF& nQ efpeme leejerKe kees (DeLee&le 31 ceee&, 2009) cetue mebmLee keer efJeJejCeer leweej keer ieF& nw. Gkele Deveg<ebefieeeW keer efJeJejefCeeeb 31 efomebyej, 2008 keer efmLeefle kes DevegHe leweej keer ieF& nQ. HeyebOeve eje eLee HeceeefCele 1 peveJejer, 2009 mes 31 ceee&, 2009 kes yeere DeHesef#ele meceeeespeveeW nsleg keesF& GuuesKeveere mebJeJenej veneR ngDee nw.
3.2

3.2 mecesefkele efJeeere efJeJejCeer Je<e& 2008-09 ceW yeQke Dee@He ye[ewoe (egieeb[e) efue. kes hetCe& mJeeefcelJe Jeeueer Deveg<ebieer, ye[ewoe kewefheue ceeefke& (etieeb[e) efue. kee Yeer meceeJesMe nw pees efke yeQke keer Deveg<ebieer nw.
3.3

3.3 yeeye kee[&me efue. ye[]ewoe Heeeesefveej Smes cewvespeceW keb.efue.Deewj eterDeeF& ^mer keb.efue. keer Deeue DeeefmleeeW Deewj cetueeme mee@HeJesej kes HeefjMeesOeve keer uesKeebkeve veerefleeeb yeQke mes efYevve nw. ye[]ewoe Heeeesefveej Smes cewvespeceW keb.efue. keer efveJesMe mebyebOeer uesKeebkeve veerefleeeb yeQke mes efYevve nw. Fmekes HeYeeJe kes HeceeCe kee GuuesKe mecesefkele efJelleere efJeJejCe ceW vener efoee ieee nw. keeeWefke Fmekee Helee vener ueieeee pee mekelee.
3.4

3.4 yeQke kes Je<e& 2008-09 kes meerSHeSme ceW Deveg<ebefieeeW eLee ye[ewoe (vetpeerueQ[) efue., yeQke Dee@He ye[ewoe yeeslmeJeevee efue. Deewj yeQke Dee@He ye[ewoe (ef$eveeroeo SJeb esyesiees) efue. SJeb FC[es peeefcyeee yeQke efue. keer meneesieer kes DeuesKeeHeefjef#ele efJelleere efJeJejCeeW kee Yeer meceeJesMe nQ. 4. 31.03.2009 kees meceehle Je<e& kes efvecveefueefKele osMeere Deveg<ebefieeeW kes Keeles kebHeveer DeefOeefveece, 1956 keer Oeeje 619 (4) kes Debleie&le Yeejle kes efveeb$eke SJeb ceneuesKee Hejer#eke keer efHHeefCeeeW kes DeOeOeerve nw : 1) yee@ye kewefHeue ceekexmed efue. 2) yee@ye kee[&med efue.

4.

139

mecesefkele efJeeere efJeJejefCeeeW hej vees

5.

5.

cetue SJeb Deveg<ebieer FkeeFeeW keer yeefneeW kee efceueeve SJeb meceeOeeve :
5.1

Balancing of Books & Reconciliation of Parent and its subsidiaries: Balancing / reconciliation of control accounts with subsidiary ledgers / registers, is in progress in certain branches / offices. Reconciliation of outstanding entries in subsidiaries accounts in the group inter-se and in various heads of accounts included in Inter Office Adjustments is in progress. Reconciliation of accounts with banks, Nostro, Drafts / TTs Payable, Suspense, Dividend / Interest / Refund Orders paid / payable etc., is in progress. The impact of the above, if any, on the Profit & Loss and Balance Sheet of CFS though not quantified, in the opinion of the management, will not be material.

5.1 keg MeeKeeDeeW /keeee&ueeeW ceW efveeb$eCe Keeles kee meymeeref[ejer uespej / jefpemjeW kes meeLe yewuesefmebie /meceeOeeve kee keee& Heieefle Hej nw. 5.2 iegHe Fbj-mes Deveg<ebefieeeW kes Keeles Deewj Deble: keeee&uee meceeeespeve ceW Meeefceue Keeles kes efJeefYevve Meer<eex ceW yekeeee HeefJeef<eeW kes meceeOeeve kee keee& Heieefle Hej nw. 5.3 yeQkeeW kes meeLe veesm^e, [^eHemed /erer ose, memHeWme, ueeYeebMe Keeles/ueeYeebMe/yeepe/ s efjHeb [ Dee@[j Heoe /ose Deeefo KeeleeW kes meceeOeeve kee keee& Heieefle Hej nw. & mecesefkele efJeeere efJeJejCe (meerSHeSme) legueve-He$e SJeb ueeYe-neefve Keeles Hej GHejeskele kee HeYeeJe, eefo keesF& nw pees eeefHe ieCevee eesie veneR nw, kee HeYeeJe HeyebOeve keer jee ceW, cenlJeHetCe& veneR nesiee. 6. Hetbpeeriele Heejef#ele efveefOe

5.2

5.3

6. 6.1

Capital Reserve Capital Reserve includes appreciation arising on revaluation of immovable properties and amount subscribed by Government of India under the World Banks Scheme for Export Development Projects / Industrial Export Projects for small / medium scale industries. During the current financial year, the Parent has revalued two foreign immoveable properties by an amount of Rs. 0.59 Crores (previous year Rs. 1377.74 crores). The amount of revaluation has been shown as an addition to Fixed Assets and credited to Revaluation Reserve Account under Capital Reserves as part of Reserves and Surplus. Provision for taxes are arrived at after due consideration of decisions of appellate authorities and advice of consultant. During the year, the Parent has annulled the forfeiture of 100 equity shares (previous year 400 equity shares). During the year ended March 31, 2009, Tier II Bonds amounting to Rs. 409.10 Crores have been redeemed and Tier I Bonds amounting to Rs. 300.20 and Tier II Bonds amounting to Rs. 1500.00 Crores (Previous year Rs.2703.62 Crores including Rs.1203.62 Crores corresponding to US $ 300 Million issued by way of Medium Term Loans) were raised. Certain properties of the Bank are stated at revalued amounts. The gross amount of the revaluation included in premises as at the year-end is Rs.1766.66 Crores (Previous Year Rs.1765.99 Crores) and net of depreciation the revaluation amounts to Rs. 1448.34 Crores (Previous year Rs.1519.09 Crores). The Parent has set up a branch at Hong Kong which has commenced operations w.e.f. 1st April 2007 and has taken over the business of wholly-owned subsidiary, Bank of Baroda (Hong Kong) Ltd. w.e.f. that date. The subsidiary company remitted the final distribution of the surplus assets on 21.10.2008 and was legally and statutorily dissolved on April 02, 2009.

6.1 Hetbpeeriele Heejef#ele efveefOe ceW Deeue mebHeefeeeW kes Hegvecet&ueebkeve kes HeuemJeHe nesves Jeeueer cetueJe=ef leLee ueIeg / ceOece GeesieeW kes efueS efveee&le efJekeeme HeefjeespeveeDeeW /Deeweesefieke efveee&leeW HeefjeespeveeDeeW nsleg efJeMJe yeQke keer eespeveeDeeW kes Debleie&le Yeejle mejkeej keer DebMeoeve jeefMe Meeefceue nQ. 6.2 eeuet efJeeere Je<e& kes oewjeve yeQke Hees 0.59 kejes[ (efHeues Je<e& 1377.74 kejes[) ves Deheveer 2 efJeosMeer Deeue heefjmecheefeeeW kee hegvece&tueebkeve efkeee nw. kej Deejef#ele hetbpeer kes Devleie&le hegvece&tueebkeve Deejef#ele Keeles ceW pecee efkeee ieee nw. 7. Deeekej kee HeeJeOeeve, DeHeerueere HeeefOekeeefjeeW kes efveeceeW kees Oeeve ceW jKeles ngS leLee HejeceMe&oelee kes HejeceMe& mes efkeee ieee nw. Je<e& kes oewjeve, yeQke eje peyle efkeS ieS 100 FefkeJeer MesejeW kees (efHeues Je<e& 400 FefkeJeer Mesej) Jeeef<e&ke uesKes ceW efueee ieee. 31 ceee& 2009 kees meceeHle Je<e& kes oewjeve 409.10 kejes[ Hees kes erej II yeeb[, 300.20 kejes[ Hees kes erej I yeeb[ Deewj 1500 kejes[ Hees (efHeues Je<e& . 2403.62 kejes[) kes erej II yeeb[ MeesefOele efkeS iees. efpemeceW yeQke eje ceeref[ece ce& veesdme kes ceeOece mes peejer efkeS iees .1203.62 kejes[ (etSme [er 300 mn) Meeefceue nw. cetue mebmLee (yeQke) keer keg mebHeefeeeW keer Hegvecet&uebefkele jeefMe kee GuuesKe efkeee ieee nw. Je<e& kes Deble ceW Heefjmej Meer<e& kes Debleie&le kegue .1766.66 kejes[ (efHeues Je<e& .1765.99 kejes[) Hegvecet&ueebefkele jeefMe kees Meeefceue efkeee ieee nw. Meg DeJecetueve kes mebyebOe ceW Hegvece&tueebefkele jeefMe .1448.34 kejes[ (efHeues Je<e& .1519.09 kejes[) nQ.
7. 6.2

8.

8. 9.

9.

10

10.

11. cetue mebmLee yeQke Dee]@He ye[ewoe ves efo.1 DeHewue, 2007 mes Deveg<ebieer FkeeF& yeQke Dee]@He ye[ewoe (nebiekeebie) efue. kee DeefOeienCe kej nebiekeebie ceW DeHevee keee& (Heefjeeueve) HeejbYe kej efoee nw. Deveg<ebieer kebHeveer ves 21.10.2008 kees Deefleefjkele DeeefmleeeW kee Debeflece mebefJelejCe jsefce efkeee Deewj en efJeefOe meccele Lee leLee 2 DeHewue 2009 kees en mebeefJeefOeke He mes meceeHle nes ieee.

11.

140

Notes on the Consolidated Financial Statements

12.

Break up of Provisions and Contingencies The break-up of provisions and contingencies appearing in Profit & Loss Account is as under: (. kejes[ ceW /Rs. in Crores)

12. eeJeOeeveeW SJeb DeekeefmcekeleeDeeW kee Deueie-Deueie efJeJejCe ueeYe neefve Kebeles ceW oMee&S ieS eeJeOeeveeW SJeb DeekeefmcekeleeDeeW kee Deueie-Deueie efJeJejCe efvecveevegmeej nw :
Particulars

efJeJejCe yesKeeles [eues ieS $e+CeeW/SveheerS kes efueS eeJeOeeve hegveie&ef"le ceeveke Je DeJeceeveke KeeleeW ceW yeepe kes meseerHeeFpe nsleg eeJeOeeve osMeiele peesefKece eyebOeve nsleg eeJeOeeve kejeW kes efueS eeJeOeeve (DeemLeefiele kej meefnle) efveJesMe hej cetueeme nsleg eeJeOeeve ceeveke DeeefmleeeW nsleg eeJeOeeve kece&eejer keueeCe Jee nsleg eeJeOeeve Deve kegue IeeSb: efveJesMe hej cetue eme nsleg Deefleefje eeJeOeeve pees][
Bad debts written off / Provision made towards NPA Provision towards sacrifice of interest in Restructured standard and sub-standard accounts Provision for Country Risk Management Provision for taxes (including deferred Taxes) Provision for depreciation on investment Provision for standard assets Provision for staff welfare expenses Others Total Less: Excess provision for depreciation on investments Total

eeuet Je<e&
Current Year 324.33

efJeiele Je<e&
Previous Year 576.21

69.23 1164.23 536.78 77.11 15.00 -3.66 2183.02 1.07 2181.95

89.90 -6.87 802.31 41.79 109.96 15.00 47.24 1675.54 2.43 1673.11

13.

Segment Reporting (AS 17): Accounting Standard 17 - Disclosure under Segment Reporting Part A : Primary Segments (. kejes[ ceW /Rs. in Crores)

13. mesieceW efjheesefie (S Sme-17) uesKee ceeveke - 17 mescecesv efjHeesefie kes lenle HekeerkejCe

Yeeie ke : eeLeefceke mesieceW

keeHeexjs/nesuemesue yeQefkebie
Corporate / Wholesale Banking

Deve yeQefkebie Heefjeeueve efjsue yeQefkebie

Retail Banking Other Banking Operations

^spejer efyepevesme mesieceW

Business Segments Treasury Current Yr Revenue Result Unallocated Expense Operating Profit Income taxes Extra-ordinary Profit/loss Net Profit Other Information Segment Assets Unallocated Assets Total Assets Segment Liabilities Unallocated Liabilities Total Liabilities 59029.19 54247.94 62616.56 57824.02 4517.37 1045.96

kegue
Total Prev Year 14306.67 3456.24 1105.55 2350.69 802.31 --1548.38

Prev Year Current Yr 3638.33 810.42 5276.81 855.03

Prev Year Current Yr 4187.57 186.11 5558.97 -1431.53

Prev Year Current Yr 4102.65 944.15 3039.77 1933.15

Prev Year Current Yr 2378.12 1515.56 18392.92 5265.67 1717.36 3548.31 1164.23 ---2384.08

eeuet Je<e& efheuee Je<e& jepemJe HeefjCeece Deveeyebefle Kee& Heefjeeueveiele Je<e& Deeekej efJeefMe< ueeYe / neefve Meg ueeYe Deve metevee mesieceW Deeefmleeeb Deveeyebefle Deeefmleeeb kegue Deeefmleeeb mesieceW oseleeSb Deveeyebefle oseleeSb kegue oseleeSb

eeuet Je<e& efheuee Je<e&

eeuet Je<e& efheuee Je<e&

eeuet Je<e& efheuee Je<e&

eeuet Je<e& efheuee Je<e&

57431.13

52428.98

50813.16

33443.77

58533.83

37199.12 229394.68 180895.89 2916.52 2583.09

232311.20 183478.98 54187.30 49204.31 47971.45 31397.45 55360.76 35011.61 216548.70 169861.31 15762.50 13617.67

232311.20 183478.98

141

mecesefkele efJeeere efJeJejefCeeeW hej vees

Yeeie-Ke - Yeewieesefueke mesieceW / Part B: Secondary Segments

efJeJejCe
Particulars

(. kejes[ ceW /Rs. in Crores)

osMeere heefjeeueve
Domestic Operations 2008-09 2007-08 12104.69 144162.06

Deblejje&^ere heefjeeueve
International Operations 2008-09 2682.68 53398.17 2007-08 2201.97 39316.93

pees[
Total 2008-09 18392.92 232311.20

pees[
Total 2007-08 14306.67 183478.98

jepemJe Deeefmleeeb
efhheCeer : 1.

Revenue Assets

15710.24 178913.03

Yeejleere efjpeJe& yeQke kes eqoMee efveoxMeevegmeej uesKeebkeve ceevekeeW keer Devegheeueve ceW yeQke ves ^spejer Dee@hejsMeve, nesuemesue, efjsue Deewj Deve yeQefkebie heefjeeueveeW kees eeLeefceke keejesyeej mesieceW Deewj osMeere Deewj Devleje&^ere kees ieewCe / Yeewieesefueke mesieceW kes he ceW DeeF meer S DeeHe eje peejer mesieceW efjheesefie hej S Sme-17 kes meeLe Devegheeuevee kes GsMe mes Deheveeee nw. eeLeefceke mesieceW kes ceeceues ceW DeesJejmeerpe Devegb<eefieeeW kes Deebke[eW kees Deve yeQefkebie heefjeeueveeW ceW Meeefceue kej efueee ieee nw. mesieceW heefjCeece lee kejles mecee, yeQke eje DeheveeF& ieF& DeblejCe cetue efveOee&jCe eCeeueer kees eeesie ceW ueeee ieee nw.

Notes: 1. As per guidelines of RBI on compliance with Accounting Standards, parent has adopted Treasury Operations, Wholesale, Retail and Other Banking Operations as Primary business segments and Domestic and International as secondary / Geographic segments for the purpose of compliance with AS-17 on Segment reporting issued by the ICAI. 2. In case of primary segments, figures of overseas subsidiaries have been included in Other banking operations. In determining the segment results, the funds transfer price mechanism followed by the Parent has been used. Segment revenue represents revenue from external customers. Capital employed for each segment has been allocated proportionate to the assets of the segment. Related Party Disclosures AS-18): i) Mr. M.D. Mallya, CMD (From 07.05.2008 onwards) ii) i) ii) iii) Dr. A.K.Khandelwal (Ex-CMD) Mr.V.Santhanaraman, ED Mr. Satish C. Gupta, ED (Upto 05.11.2008) Mr. Rajiv Kumar Bakshi, ED (From 06.11.2008 onwards)

2.

3.

3.

4.

4. 5.

mesieceW jepemJe yeee eenkeeW mes eehle jepemJe kees oMee&leer nw. eleske mesieceW kes efueS ueieeeer ieeer hetbpeer kees mesieceW keer DeeefmleeeW ceWs Deevegheeefleke DeeOeej hej Deeyebefle efkeee ieee nw.
5. 14.

14. mebyebefOele heeea ekeerkejCe (SSme-18)

i. ii i. ii. iii.

eer Sce. [er. ceuee, DeOe#e SJeb eyebOe efveosMeke (07.05.2008 mes) [e@. Deefveue kes. Keb[sueJeeue, YetleHeJe& DeOe#e SJeb eyebOe efveosMeke eer Jeer. mevleevejeceve, keee&keejer efveosMeke eer meleerMe meer. ieghlee, keee&keejer efveosMeke (05.11.2008 leke) eer. jepeerJe kegceej ye#eer, keee&keejer efveosMeke (06.11.2008 mes) HeyebOeve kes HecegKe HeeefOekeeefjeeW kees Deoe efkeee ieee Heeefjeefceke . 38.12 ueeKe (iele Je<e& .17.60 ueeKe)

Aggregate Remuneration paid to Key Management Personnel Rs. 38.12 lac (Previous year Rs. 17.60 lac) 15. Earnings per Share (AS-20)

15. eefle Mesej Depe&ve (SSme-20)

eeuet Je<e&
i. FefkeJeer Mesej Oeejke nsleg kej kes yeeo GheueyOe Net Profit after tax available for Equity shareholders (Rs. in crores) Weighted Average Number of Equity Shares Basic and diluted earnings per share of Rs.10/- each (Rs.) Nominal Value per Equity Share 2384.08 364266500 65.45 Rs.10.00

efJeiele Je<e&
1548.37 364266400 42.51 Rs.10.00

Current Year Previous Year

Meg ueeYe (. kejes[es ceW)

ii. FefkeJeer Meseme& keer Yeeefjle Deewmele mebKee iii. eefle Mesej yegefveeeoer Je [eeuets[ Depe&ve iv. eefle FefkeJeer Debefkele Mesej cetue

142

Notes on the Consolidated Financial Statements

16.

Deee hej kej keer ieCevee (SSme-22)

16.

Accounting for Taxes on Income (AS-22) The Parent and its subsidiaries have complied with the requirements of AS 22 on Accounting for Taxes on Income issued by ICAI and accordingly deferred tax assets and liabilities are recognized. (. kejes[eW ceW /Rs. in Crores)

kee yeQke ves heeueve efkeee nw leLee leovegmeej DeeefmLeefiele kej Deeefmleeeb leLee oseleeSb efveOee&efjle keer ieF&.

efJeJejCe

Particulars

31.03.2009

31.03.2008

Deeefmleeeb Deeekej DeefOeefveece kes lenle yener cetueeme leLee cetueeme kes yeere Deblej Deeekej DeefOeefveece 1961 keer Oeeje 36(1) (viii) kes lenle keeQefleeeb Deve
Difference between book depreciation and Depreciation under Income Tax Act Deduction under Section 36(1)(viii) of the Income-tax Act, 1961 Others Provision for doubtful debts and advances Amount Disallowable U/S 40(a)(ia) of the IT Act Provision for leave encashment Total: Net Deferred Tax Asset Asset 0.19 2.10 51.01 16.86 100.92 171.08 44.61

oselee
Liability 51.33 74.78 0.36 126.47 -

Deeefmleeeb
Asset 0.15 0.50 36.83 73.17 110.65 53.42

oselee
Liability 56.93 0.26 0.04 57.23 -

mebefOeiOe $e+Ce SJeb Deefieceebs kes efueS HeeJeOeeve

Deeekej DeefOeefveece keer Oeeje 40(S)(DeeF& S) kes lenle Deceeve jeefMe ger vekeoerkejCe nsleg eeJeOeeve pees[ Meg DeemLeefiele kej Deeefmleeeb

31 ceee& 2009 kees meceehle Je<e& kes efueS . 8.81 kejes[ keer Meg DeemLeefiele kej DeeefmleeeW ceW Je=ef (efheues Je<e& . 4.17 kejes[ keer Je=ef) kees ueeYe Je neefve Keeles ceW efveOee&efjle efkeee ieee nw. 17. eeJeOeeve, Deekeefmceke oseleeSb leLee Deekeefmceke Deeefmleeeb (SSme-29) mes mebye oseleeDeeW kes efueS eeJeOeeveeW kee mebeeueve (DeveeW kes efueS eeJeOeeve kees es[kej)

Decrease in net Deferred Tax Assets of Rs. 8.81 Crores for the year ended 31st March 2009 (Previous year increase of Rs.4.17 Crores) has been recognized in the Profit & Loss Account. 17. Movement of provisions for Liabilities (excluding provisions for others) in terms of AS-29 Provisions, Contingent Liabilities and Contingent Assets: (. kejes[eW ceW /Rs. in Crores)

efJeJejCe

Particulars

cegkeoceW/ Deekeefmceke
Legal Cases / Contingencies Current Year Previous Year 7.46 6.54 0.51 13.49

vesieesefMeSMeve kes lenle yekeeee Jesleve

Salary arrears under negotiation Current Year 100.00 325.00 425.00 Previous Year 100.00 100.00 -

Balance as on 1st April

13.49 0.01 13.48

1 Deewue kees Mes<e

Provided during the year

Je<e& kes oewjeve eoe Je<e& kes oewwjeve Kee& jeefMe 31 ceee& kees Mes<e DeeGHeuees/ Devemexveerpe kee mecee

Amount used during the year Balance as at 31st March Timing of Outflow / uncertainties

efveHeeve efkemueerkejCe Hej DeeGHeuees

Outflow on settlement / crystallization

18. Deefleefjkele HekeerkejCe : cetue mebmLee (yeQke) SJeb Deveg<ebefieeeW keer Deueie efJeeere efJeJejefCeeeW ceW Heke mes mebyebOe veneR nw, Ssmeer ceoeW mes mebyebefOele metevee kees, pees cenlJeHetCe& veneR nw, meerSHeSme ceW Heke veneR efkeee ieee nw. 19. efHeues Je<e& kes Deebke[s : mecetn mebmLeeDeeW kes efHeues Je<e& kes Deebke[eW kees peneb peneb DeeJeMeke mecePee ieee, Hegve: JeJeefmLele / Hegveefve&Oeeefjle /Hegve:mecetnerke=le efkeee ieee nw.

18.

Additional Disclosures: Additional information disclosed in the separate financial statements of the Parent and the subsidiaries having no bearing on the true and fair view of the CFS and also the information pertaining to the items which are not material, have not been disclosed in the CFS. Previous Year Figures: Previous years figures of the group entities have been rearranged / recast / regrouped wherever considered necessary.

19.

143

veieoer eJeen efJeJejCe/Statement of Consolidated Cash Flow

31 ceee& 2009 kees meceehle Je<e& kes efueS veieoer eJeen efJeJejCe
Statement of Consolidated Cash Flow for the year ended 31st March, 2009
(000s DeveDebefkele omitted) 31 ceee& 2009 31 ceee& 2008 kees meceeHle Je<e& kees meceeHle Je<e&
Year ended 31.03.2009 A. Cash flow from operating activities : ke Heefjeeueve keee&keueeHeebs mes vekeoer HeJeen : Net Profit before taxes kej mes HetJe& Meg ueeYe Adjustments for: efvecveefueefKele kes efueS meceeeespeve : Depreciation on fixed assets Deeue DeeefmleeeW Hej cetueeme efveJesMeeW Hej cetue eme (HeefjHekeJe $e+CeHe$eeW meefnle) Depreciation on investments
(including on Matured debentures)

Year ended 31.03.2008 2350,68,73 240,70,83 39,35,72 576,20,60 109,96,46 145,26,35 (39,66) 350,45,06 (10,93,81) 38013028

3548,31,08 239,43,78 536,78,08 324,07,92 77,10,73 80,81,70 299 466,86,88 (32,22,41) 52412075

yes Keeles ceW [eues ieS DeMeesOe $e+Ce /iewj efve<Heeoke DeeefmleeeW kes efueS HeeJeOeeve ceeveke DeeefmleeeW kes efueS HeeJeOeeve Deve ceoeW kes efueS HeeJeOeeve Deeue DeeefmleeeW keer efyeeer mes ueeYe /(neefve) ieewCe $e+CeeW Hej yeepe ueeYe/HeeJeOeeve, (Deueie mes efueee ieee) Deveg<ebieer FkeeFeeW/Deve mes HeeHle ueeYeebMe (Deueie mes efueee ieee) GHe-eesie efvecveefueefKele kes ef}S meceeeespeve : efveJesMeeW ceW (Je=ef) / keceer DeefieceeW ceW (Je=ef) / keceer Deve DeeefmleeeW ceW (Je=ef) / keceer GOeej jeefMeeeW ceW Je=ef / (keceer) pecee jeefMeeeW ceW Je=ef / (keceer) Deve oseleeDeeW leLee HeeJeOeeveesb ceW Je=ef /(keceer)

Bad debts written-off/Provision in respect of nonperforming assets Provision for Standard Assets Provision for Other items Profit/(loss) on sale of fixed assets Payment/provision for interest on subordinated debt(treated separately) Dividend received from subsidiaries/others (treated separately)

Sub total Adjustments for: (Increase)/Decrease in investments (Increase)/Decrease in advances (increase)/Decrease in other assets Increase/(Decrease)in borrowings Increase/(Decrease) in deposits Increase/(Decrease) in other liabilities and provisions Direct taxes paid (Net of Refund) Heoe Hele#e kej (efjHeb[ kee Meg) Net cash from operating activities (A) Heefjeeueve keee&keueeHeeW mes Meg vekeoer (ke) B. Cash flow from investing activities: efveJesMe mebyebOeer keee&keueeHeeWW mes vekeoer HeJeen : Purchase of fixed assets Deeue DeeefmleeeW keer Kejero Sale of fixed assets Deeue DeeefmleeeW keer efyeeer Dividend received from subsidiaries/others Deveg<ebieer FkeeFeeW/DeveeW mes HeeHle ueeYeebMe Net cash from investing activities (B) efveJesMe mebyebOeer keee&keueeHeeW mes Meg vekeoer (Ke) C. Cash flow from financing activities: Ke. efJeeHees<eCe mebyebOeer ieefleefJeefOeeeW mes vekeoer HeJeen : Share Capital Mesej hetbpeer

(9505,60,13) (9020,12,06) (38039,08,97) (23597,14,42)

(230,89,33) 9199893 1682,67,84 2791,01,98 41313,36,11 27187,66,41 2194,96,31 697,31,05 (1377,89,57) 1278,73,02 (221,78,78) 42,04,55 32,22,41 (147,51,82) 0 3 1709,10,15 (340,93,88) (466,86,88) 901,29,42 2032,50,62 (442,46,53) 2337,55,64 (381,68,35) 127,08,24 10,93,81 (243,66,30) 1 10 2703,61,90 (252,45,84) (350,45,06) 2100,71,11 4194,60,45

Mesej Heerefceece iewj peceeveleer ieewCe yeeb[ ueeYeebMe iewj peceeveleer Heefleose yeeb[eW Hej Heoe /ose yeepe . efJeeHees<eCe ieefleefJeefOeeeW mes Meg vekeoer (ie) vekeoer SJeb vekeoer mecelegue (ke)+(Ke)+(ie) ceW Meg Je=ef Je<e& kes eejbYe ceW eceMe: vekeoer Je vekeoer mecelegue Je<e& kes Deble ceW vekeoer Je vekeoer mecelegue

Share premium Unsecured Subordinated Bonds Dividend Interest paid / payable on unsecured redeemable bonds Net cash from financing activities (C) Net increase in cash & cash equivalents (A)+(B)+(C) Cash and cash equivalents as at the beginning of the year Cash and cash equivalents as at the end of the year

23170,11,17 18975,50,72 25202,61,79 23170,11,17

144

uesKee hejer#ekeeW keer efjhees& / Auditors' Report

uesKee hejer#ekeeW keer efjhees&

Auditors' Report on Consolidated Financial Statements of Bank of Baroda
To,

mesJee ceW, efveosMeke ceb[ue, yeQke Dee@He ye[ewoe 1. nceves yeQke Dee@He ye[ewoe (yeQke) kes 31 ceee&, 2009 kes mebueive mecesefkele legueve He$e Deewj Gmekes meeLe mebueive Gkele leejerKe kees meceeHle Je<e& kes mecesefkele ueeYe-neefve uesKes Deewj Ge leejerKe kees meceehle mecesefkele vekeoer eJeen efJeJejCeer keer uesKee Hejer#ee keer nw. es efJeeere efJeJejefCeeeb efJeeere HeyebOeve keer efpeccesoejer nQ leLee FvnW HeyebOeve eje Deveg<ebefieeeW leLee meneesieer mebmLeeDeeW keer Deueie efJeeere efJeJejefCeeeW leLee Deve efJeeere meteveeDeeW kes DeeOeej Hej leweej efkeee ieee nw. nceejer efpeccesoejer Fve efJeeere efJeJejefCeeeW kes yeejs ceW uesKee-Hejer#ee kes DeeOeej Hej cele Jekele kejvee nw. 2. yeQke eje mecesefkele efJeeere efJeJejefCeeeW kees uesKee-ceeveke (SSme)-21 -

The Board of Directors, Bank of Baroda 1. We have audited the attached Consolidated Balance Sheet of BANK OF BARODA (the Bank) as on 31st March 2009, the Consolidated Profit and Loss Account for the year ended on that date and the Consolidated Cash Flow Statement for the year ended on that date, annexed thereto. These Financial Statements are the responsibility of the Banks management and have been prepared by the management on the basis of separate financial statements and other financial information regarding subsidiaries and associates. Our responsibility is to express our opinion on these Financial Statements based on our audit. The Consolidated Financial Statements have been prepared by the Bank in accordance with the requirements of Accounting Standard (AS) 21 Consolidated Financial Statements and Accounting Standard (AS) 23 Accounting for Investment in Associates in Consolidated Financial Statements, issued by the Institute of Chartered Accountants of India and the guidelines issued by the Reserve Bank of India (except as otherwise stated) and on the basis of the separate Audited Financial Statements of the Bank, its Subsidiaries and Associates incorporated in the Consolidated Financial Statements. (a) We have not audited the Financial Statements of Twelve Subsidiaries, whose Financial Statements reflect Total Assets of Rs. 5797.49 crores as on 31st March 2009, Total Revenue of Rs.592.88 crores and cash flow amounting to Rs. 244.68 crores for the year ended on that date and Nine Associates reflecting Net Profit of Rs 63.66 crores for the year ended 31st March 2009. Out of the above, figures have been taken on the basis of unaudited financial statements in respect of three Subsidiaries ,namely Baroda (New Zealand) Limited, Bank of Baroda (Botswana) Ltd. and Bank of Baroda (Trinidad and Tobago) Ltd. and one associate, namely Indo Zambia Bank Limited.

2.

Yeejleere meveoer uesKeekeej mebmLeeve eje peejer mecesefkele efJeeere efJeJejefCeeeW ceW, Deveg<ebefieeeW ceW efveJesMe nsleg uesKeebkeve Deewj yeQke, Fmekeer Deveg<ebefieeeW Deewj mecesefkele efJeeere efJeJejefCeeeW ceW Meeefceue meneesieer mebmLeeDeeW keer Deueie uesKee-Hejeref#ele efJeeere efJeJejefCeeeW kes DeeOeej Hej Fbmeret Dee@He ee&[ SkeeGbWdme Dee@He Fbef[ee leLee Yeejleere efj]peJe& yeQke (DeveLee

efkeee ieee nw. 3. (ke) nceves efvecveefueefKele 12 Deveg<ebeieeeb keer uesKee-hejer#ee veneR keer nw, f efpevekeer efJeeere efJeJejefCeeeW ceW 31 ceee& 2009 kees .5797.49 keje[ s keer kegue Deeefmleeeb leLee meceeHle Je<e& keer DeJeefOe kes efueS .592.88 keje[ kee kegue jepemJe leLee Gkele efoveebke kees meceeHle Je<e& kes efueS s .244.68 keje[ kee vekeoer HeJeen oMee&ee ieee nw. 9 meneesieer s mebmLeeSb efpevneWves 31 ceee& 2009 kees meceeHle Je<e& kes efueS .63.66 kejes[ kee Meg ueeYe HeoefMe&le efkeee nw. (Ke) THej ceW mes, 3 Deveg<ebefieeeW - ye[ewoe (vetpeerueQ[) efueefces[, yeQke Dee@]He ye[ewoe (yeeslmeJeevee) efueefces[ leLee yeQke Dee@]He ye[ewoe (ef$eefveoeo SJeb esyesiees) efueefces[ leLee 1 meneeke - Fb[es peebefyeee yeQke efueefces[ kes mebyebOe ceW DeuesKeeHeefjef#ele efJeeere efJeJejefCeeeW kes DeeOeej Hej Deebke[s efueS ieS nw. 4. nceves mecesefkele efJeeere efJeJejefCeeeW keer uesKee-Hejer#ee, Yeejle ceW meeceevele: en DeHesef#ele nw efke nce uesKee-Hejer#ee Fme Hekeej megefveeesefpele Deewj mebHevve kejW efke nceW en leke& mebiele DeeMJeemeve efceues efke es efJeeere efJeJejefCeeeb meYeer Hekeej keer cenlJeHetCe& ieueefleeeW mes cegkele nbw. uesKee-Hejer#ee ceW, peebe DeeOeej Hej Hejer#eCe, jeefMeeeW mebyebefOele HeceeCe Deewj efJeeere efJeJejefCeeeW kee HekeerkejCe Meeefceue nw. uesKee-Hejer#ee ceW HeyebOeve eje, Heegkele uesKeekejCe efmeevleeW kee efveOee&jCe Deewj cenlJeHetCe& Deekeueve Meeefceue nw. FmeceW meceie efJeeere efJeJejefCeeeW kee HemlegleerkejCe cetueebkeve Yeer Meeefceue nQ. nceeje efJeMJeeme nw efke nceejs eje keer ieF& uesKee-Hejer#ee nceejer jee kee leke& mebiele DeeOeej nw. 3.

(b)

4.

We conducted our audit of the Consolidated Financial Statements in accordance with Generally Accepted Auditing Standards in India. These standards require that we plan and perform the audit to obtain reasonable assurance whether the Financial Statements are prepared, in all material respects, in accordance with an identified financial reporting framework and are free of material misstatements. An audit includes, examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

145

uesKee hejer#ekeeW keer efjhees&/Auditors' Report

5.

5.

Devegmeteer-19 ceW vees veb.5 kee meboYe& ueW pees FmeceW GefuueefKele yekeeee ceoeW kes meceeOeeve/efkeueDejsvme mes Glhevve meceeeespeve kes yeejs ceW nw. GHejeskele kes HeefjCeeceer HeYeeJe kee Deekeueve veneR efkeee ieee nw. Devegmeteer-19 ceW Heefle Mesej Depe&ve (vees meb.15) GHejeskele Hewje 5 ceW efoS ieS nceejs DeefYeceleeW kes DeOeOeerve nw. nceejer uesKee Hejer#ee SJeb Deve uesKee-Hejer#ekeeW keer Deueie efJeeere efJeJejefCeeeW Deewj IekeeW keer Deve efJeeere metevee leLee nceejer meJeexece peevekeejer Deewj nceW efoS ieS mHe<erkejCe kes Devegmeej leLee GHejeskele Hewje 3(Ke) SJeb 5 kes DeOeOeerve nceejer en jee nw efke mebueive mecesefkele efJeeere efJeJejefCeeeb Yeejle ceW meeceevele: mJeerke=le uesKeebkeve efmeevleeW kes Devegmeej meeer SJeb mener lemJeerj Hemlegle kejleer nQ.
(i) 6. 7.

Attention is drawn to the note no.5 in Schedule 19 regarding adjustments arising from reconciliation / clearance of outstanding items stated therein. The consequential effect of the same has not been ascertained. Earnings per share (Note No.15) in Schedule 19 are subject to our observations in paragraph 5 above. Based on our audit and on consideration of reports of other auditors on separate financial statements and on the other financial information of the components, and to the best of our information and according to the explanations given to us and subject to paragraphs 3(b) & 5 above, we are of the opinion that the attached consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Consolidated Balance Sheet, of the consolidated state of affairs of the Bank, its Subsidiaries and interests in its Associates( Bank of Baroda Group) as on 31st March 2009; in the case of the Consolidated Profit & Loss Account, of the Profit of Bank of Baroda Group for the year ended on that date, and in the case of Consolidated Cash Flow Statement, of the cash flows for the year covered by the Consolidated Financial Statements.

6.

7.

31 ceee& 2009 kees yeQke, Fmekeer Deveg<ebefieeeW kes mecesefkele keee& JeJenejeW leLee Fmekeer meneesieer mebmLee (yeQke Dee@He ye[ewoe mecetn) kes efnleeW mes mecyebefOele mecesefkele legueveHe$e kes mecyeOe ceW. Gkele leejerKe kees meceeHle Je<e& kes efueS yeQke Dee@He ye[ewoe iegHe kes ueeYe mecyevOeer mecesefkele ueeYeneefve Keeles kes mecyevOe ceW. mecesefkele efJeeere efJeJejefCeeeW eje keJej efkeS ieS Je<e& kes vekeoer HeJeen mecyevOeer mecesefkele vekeoer HeJeen efJeJejCeer kes mecyebOe ceW.

(ii)

(ii)

(iii)

(iii)

ke=les yeer.meer.pewve SC[ keb. meveoer uesKeekeej

For B.C.JAIN & CO. Chartered Accountants

ke=les S. meeosJe SC[ keb meveoer uesKeekeej

For A. SACHDEV & CO. Chartered Accountants

ke=les ieghlee veeej SC[ keb. meveoer uesKeekeej

For GUPTA NAYAR & CO. Chartered Accountants Surendra Naruka hee&vej / Partner M No091740

jbpeerle efmebn/Ranjeet Singh hee&vej / Partner

M No.73488

ceveer<e DeeJeeue / Manish Agarwal hee&vej / Partner

M No.078628

ke=les Sme.kes.kehetj SC[ keb. meveoer uesKeekeej

For S.K. KAPOOR & CO. Chartered Accountants Jeer yeer efmebn / V B Singh hee&vej / Partner M No.073124

ke=les Deeefve SC[ DemeesefmeSdme meveoer uesKeekeej

For ASHWANI & ASSOCIATES Chartered Accountants DejefJebo pewve / Arvind Jain hee&vej / Partner M No.097549

ke=les Sve.meer.ye@vepeea SC[ keb. meveoer uesKeekeej

For N.C. BANERJEE & CO. Chartered Accountants

Sce meer kees[eueer / M C Kodali hee&vej / Partner

M No.056514

mLeeve/Place : Mumbai efoveebke/Date : 26.05.2009

146

keeheexjs efveeb$eCe efjhees& / Corporate Governance

keeheexjs efveeb$eCe efjhees& / Report on Corporate Governance (2008-09)

1. efveeb$eCe mebefnlee kes yeejs ceW yeQke kee oMe&ve : yeQke, Glke=lee eeHle kejves nsleg mebmeeOeveeW kes Flece Gheeesie kes meeLe DeefOekelece heefleHeue uesves leLee meYeer mlejeW hej keee&efve<heeove megefveeqele kejles ngS MesejOeejkeeW kes efnleeW keer j#ee kejles ngS leLee Gvekes cetueeW ceW DeefYeJe=ef kes efueS melele heeemejle peejer jKesiee. yeQke ve kesJeue meebefJeefOeke DeeJeMekeleeDeeW kee Devegheeueve kejsiee yeequke mJesehetJe&ke ke[er keeheexjs efveeb$eCe heefleeeW kees efve<heeefole kejles ngS Gvekee heeueve Yeer kejsiee. yeQke Heleske #es$e ceW Glke=<lee neefmeue kejves kes efueS vewefleke cetueeW kes Ge ceevekeeW, HeejoefMe&lee leLee, DevegMeeefmele ef<keesCe DeHeveeves ceW efJeMJeeme jKelee nw. yeQke Glke=< Debleje&<^ere ceeveoC[eW kes DevegHeeueve kes Heefle Yeer Heefleye nw. yeQke Deheves meYeer meePesoejeW, efpemeceW MesejOeejke, ieenke, mejkeej Deewj Jeeheke leewj hej pevelee Yeer Meeefceue nw, kees DeefOekelece ueeYe hengBeeves kes efueS meIeve heeeme kejlee jnsiee. yeQke Ske meteerye efvekeee nw, pees Ske kecHeveer veneR nw, DeefHeleg yeQkekeejer kecHeveer (GHeeceeW kee Depe&ve SJeb DevlejCe) DeefOeefveece 1970 DeLee&led yeQkekeejer kecHeveer Depe&ve DeefOeefveece kes lenle efvekeee keeHees&js nw leLee Yeejleere efj]peJe& yeQke eje efJeefveeefcele neslee nw, Dele: meke SkemeeWpees kes meeLe efkeS ieS meteereve kejej kes mebMeesefOele GHeKeC[ 49 kes eeJeOeeveeW kee Gme meercee leke Heeueve kejsiee, peneb leke yeQkekeejer kecHeveer Depe&ve DeefOeefveece Deewj Fme mebyebOe ceW Yeejleere efj]peJe& yeQke eje peejer efoMeeefveoxMeeW kee GuuebIeve venerb neslee nw. 2. efveosMeke ceb[ue : 2.1 efveosMeke ceb[ue kee mJehe efveosMeke ceb[ue kee ie"ve yeQekE eie efJeefveece DeefOeefveece 1949, yeQekE eie kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 eLee mebMeeseOele leLee f je^eeke=le yeQke (heyebOeve SJeb efJeefJeOe heeJeOeeve) eespevee 1970 (eLee r mebMeeseOele) kes heeJeOeeveeW eje Meeefmele neslee nw. f 31 ceee&, 2009 keer efmLeefle kes DevegHe efveosMeke ceb[ue kee mJeHe efvecveefueefKele Devegmeej nw.
2. 1. Banks Philosophy On Code of Governance The Bank shall continue its endeavor to enhance its shareholders value by protecting their interest by ensuring performance at all levels, and maximizing returns with optimal use of resources in its pursuit of excellence. The Bank shall comply with not only the statutory requirements, but also voluntarily formulate and adhere to a set of strong Corporate Governance practices. The Bank believes in setting high standards of ethical values, transparency and a disciplined approach to achieve excellence in all its sphere of activities. The Bank is also committed to follow the best international practices. The Bank shall strive hard to best serve the interests of its stakeholders comprising shareholders, customers, Government and society at large. The Bank is a listed entity, which is not a company but body corporate under Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 i.e. The Banking Companies Acquisition Act, and is regulated by Reserve Bank of India, and therefore it shall comply with the provisions of Revised Clause 49 of the Listing Agreement entered in to with Stock Exchanges, to the extent it does not violate The Banking Companies Acquisition Act and the Guidelines issued by Reserve Bank of India in this regard. Board of Directors: 2.1 Composition of the Board The composition of Board of Directors of the Bank is governed by the provisions of the Banking Regulation Act, 1949, Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, as amended & Nationalized Banks (Management & Miscellaneous Provisions) Scheme, 1970, as amended. The composition of Board of Directors of the Bank as on 31st March 2009 is as under:

ece meb
Sr. No.

veece
Name

heoveece
Position Held

31.03.2009 kees Oeeefjle yeQke Dee@]He ye[ewoe kes FeqkeJeer MesejeW keer mebKee

yeQke keer GhemeefceefleeeW keer meomelee (mebKee)

yeQke kes DeueeJee yeQke kes DeueeJee Deve efhheefCeeeb (yeQke SJeb Deve kebheefveeeW, efpeveceW Jes meome nQ, ceW Deve kebheefveeeW ceW kebheefveeeW keer GhemeefceefleeeW efveegefe kee mJehe ) Remarks (nature of appointment in the efveosMeke kes he ceW ceW meomelee/ DeOe#elee Bank & other Companies in which he/she is mesJeeSb (mebKee) (mebKee)
No. of Membership/ Chairmanship held in Sub Committees of other Companies i.e. Other than the Bank 2 member)

No. of No. of membership Directorship No. of in Sub held in other equity shares of Committees Companies i.e. Other the Bank of the Bank than the held as on Bank. 31.03.2009

eer Sce.[er.ceuee

DeOe#e SJeb (keee&heeueke)

Chairman and Managing Director (Executive)

Metve
NIL

10

Shri M.D. Mallya heyebOe efveosMeke

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(S) kes lenle keW mejkeej eje 07.05.2008 keer heYeeJeer leejerKe mes efveege. Jes efvecveefueefKele efveosMeke ceb[ueeW kes Yeer efveosMeke nQ : (i) Yeejleere efveee&le Deeeele yeQke (ii) o vet Fbef[ee DeMegjWme keb.efueefces[ (iii) ke=ef<e efJee efveiece efueefces[ (iv) ye[ewoe heeeefveej Deeeqmle heyebOeve keb.efue.

147

keeheexjs efveeb$eCe efjhees&

ece meb
Sr. No.

veece
Name

heoveece
Position Held

31.03.2009 kees Oeeefjle yeQke Dee@]He ye[ewoe kes FeqkeJeer MesejeW keer mebKee

yeQke keer GhemeefceefleeeW keer meomelee (mebKee)

yeQke kes DeueeJee yeQke kes DeueeJee Deve efhheefCeeeb (yeQke SJeb Deve kebheefveeeW, efpeveceW Jes meome nQ, ceW Deve kebheefveeeW ceW kebheefveeeW keer GhemeefceefleeeW efveegefe kee mJehe ) Remarks (nature of appointment in the efveosMeke kes he ceW ceW meomelee/ DeOe#elee Bank & other Companies in which he/she is mesJeeSb (mebKee) (mebKee)
No. of Membership/ Chairmanship held in Sub Committees of other Companies i.e. Other than the Bank (v) (vi) (vii) (viii) (ix) (x) member)

No. of No. of membership Directorship No. of in Sub held in other equity shares of Committees Companies i.e. Other the Bank of the Bank than the held as on Bank. 31.03.2009

ye[ewoe Sue SC[ peer peerJeve yeercee keb.efue. yee@yekee[d&me efue. yeQke Dee@]He ye[ewoe (yeeslmJeevee) efue. yeQke Dee@]He ye[ewoe (Ieevee) efue. yeQke Dee@]He ye[ewoe (ef$eefveoeo SJeb esyeeiees) efue. yeQke Dee@]He ye[ewoe (vetpeerueQ[) efue. Jes efvecveefueefKele ieJee\veie keeQeEmeueeW kes Yeer meome nQ :(i) je^ere yeQke heyebOeve mebmLeeve (ii) yeQefkebie keee|ceke eeve mebmLeeve (DeeF&yeerheerSme) (iii) Yeejleere yeQefkebie SJece efJee mebmLeeve Jes vet Fbef[ee DeMeesjWme keb. efue. keer uesKee hejer#ee meefceefle SJeb efveJesMe meefceefle kes Yeer meome nw.
Appointed w.e.f. 07.05.2008 by the Central Government u/s 9(3)(a) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. He is also a Director on the Boards of: (i) Export Import Bank of India (ii) The New India Assurance Co. Ltd (iii) Agricultural Finance Corpn. Ltd. (iv) Baroda Pioneer Asset Management Co. Ltd. (v) Baroda L&G Life Insurance Co. Ltd. (vi) BOBCARDS Ltd. (vii) Bank of Baroda (Botswana) Ltd. (viii) Bank of Baroda (Ghana) Ltd. (ix) Bank of Baroda (Trinidad & Tobago) Ltd. (x) Bank of Baroda (New Zealand Ltd.) He is also a member of the Governing Council of: (i) National Institute of Bank Management (ii) Institute of Banking Personnel Selection (IBPS) (iii) Indian Institute of Banking & Finance He is also a member in the Audit Committee and Investment Committee of New India Assurance Co. Ltd. 2

eer Jeer.mebleevejeceve

keee&keejer efveosMeke

Metve
NIL

Shri V. (keee&heeueke) Santhanaraman Executive Director (Executive)

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(S) kes lenle keW mejkeej eje 10.10.2006 keer heYeeJeer leejerKe mes efveege. Jes efvecveefueefKele efveosMeke ceb[ueeW kes Yeer efveosMeke nQ : (i) yeQke Dee@]He ye[ewoe (egieeb[e) efue. (ii) yeQke Dee@]He ye[ewoe (kesvee) efue. Jes efvecveefueefKele kes Yeer meome nQ :(i) yeQke Dee@]He ye[ewoe (egieeb[e) efue. keer uesKee hejer#ee meefceefle SJeb $e+Ce meefceefle (ii) yeQke Dee@]He ye[ewoe (kesvee) efue. keer uesKee hejer#ee meefceefle
Appointed w.e.f. 10.10.2006 by the Central Government u/s 9(3)(a) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. He is also a Director on the Boards of: (i) Bank of Baroda (Uganda) Ltd. (ii) Bank of Baroda (Kenya) Ltd. He is also member of : (i) Audit Committee and Credit Committee of Bank of Baroda (Uganda) Limited. (ii) Audit Committee of Bank of Baroda (Kenya) Ltd.

148

Corporate Governance

ece meb
Sr. No.

veece
Name

heoveece
Position Held

31.03.2009 kees Oeeefjle yeQke Dee@]He ye[ewoe kes FeqkeJeer MesejeW keer mebKee

yeQke keer GhemeefceefleeeW keer meomelee (mebKee)

yeQke kes DeueeJee yeQke kes DeueeJee Deve efhheefCeeeb (yeQke SJeb Deve kebheefveeeW, efpeveceW Jes meome nQ, ceW Deve kebheefveeeW ceW kebheefveeeW keer GhemeefceefleeeW efveegefe kee mJehe ) Remarks (nature of appointment in the efveosMeke kes he ceW ceW meomelee/ DeOe#elee Bank & other Companies in which he/she is mesJeeSb (mebKee) (mebKee)
No. of Membership/ Chairmanship held in Sub Committees of other Companies i.e. Other than the Bank 2 member)

No. of No. of membership Directorship No. of in Sub held in other equity shares of Committees Companies i.e. Other the Bank of the Bank than the held as on Bank. 31.03.2009

eer jepeerJe kegceej ye#eer

keee&keejer efveosMeke

Metve
NIL

Shri Rajiv Kumar (keee&heeueke) Bakshi Executive Director (Executive)

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(S) kes lenle keW mejkeej eje 06.11.2008 keer heYeeJeer leejerKe mes efveege. Jes efvecveefueefKele efveosMeke ceb[ueeW kes Yeer efveosMeke nQ : (i) yeQke Dee@]He ye[ewoe (lebpeeefveee) efue. (ii) Fb[es peeeqcyeee yeQke efue. Jes Fb[es peeeqcyeee yeQke efue. keer $e+Ce meceer#ee meefceefle SJeced uesKee hejer#ee meefceefle kes meome Yeer nQ
Appointed w.e.f. 06.11.2008 by the Central Government u/s 9(3)(a) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. He is also a Director on the Boards of : (i) Bank of Baroda (Tanzania) Ltd. (ii) Indo Zambia Bank Limited. He is also member of Loan Review Committee and Audit Committee of Indo Zambia Bank Ltd.

eer DeefceleeYe Jecee& DeeF&SSme

Shri Amitabh Verma IAS

efveosMeke (iewj keee&heeueke) kesere mejkeej kes eefleefveefOe

Director (Non Executive) Representing Central Government

Metve
NIL

Metve
NIL

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(yeer) kes lenle keW mejkeej eje 10.06.2008 keer heYeeJeer leejerKe mes veeefcele. Jes efvecveefueefKele efveosMeke ceb[ueeW kes Yeer efveosMeke nQ : (i) je^ere DeeJeeme yeQke (ii) veeyee[&
Nominated w.e.f.10.06.2008 by the Central Government u/s 9(3)(b) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. He is also a Director on the Boards of: (i) National Housing Bank (ii) NABARD

5.

eer S.meescemegbojce
Shri A. Somasundaram

efveosMeke (iewj keee&heeueke) Yeejleere efj]peJe& yeQke eje mebmlegle efveosMeke

Director (Non Executive) Recommended by RBI

Metve
NIL

Metve
NIL

Metve
NIL

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(meer) kes lenle keW mejkeej eje 27.02.2007 keer heYeeJeer leejerKe mes veeefcele.
Nominated w.e.f. 27.02.2007 by the Central Government u/s 9(3)(c) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.

eer efceeEueo vee[keCeea

Shri Milind N. Nadkarni

efveosMeke (iewj keee&Heeueke) Jeke&cewve meHe kes eefleefveefOe

Director (Non Executive) Representing Workmen

390

Metve
NIL

Metve
NIL

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(F&) kes lenle Yeejle mejkeej eje 01.05.2007 keer heYeeJeer leejerKe mes veeefcele.
Nominated w.e.f. 01.05.2007 by the Central Government u/s 9(3)(e) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.

eer jCepeerle kegceej epeea

Shri Ranjit Kumar Chatterjee

efveosMeke (iewj keee&heeueke) iewj Jeke&cewve meHe kes eefleefveefOe

Director (Non Executive) Representing Non-workmen

710

Metve
NIL

Metve
NIL

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(SHe) kes lenle keW mejkeej eje 20.12.2007 keer heYeeJeer leejerKe mes veeefcele.
Nominated w.e.f. 20.12.2007 by the Central Government u/s 9(3)(f) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.

149

keeheexjs efveeb$eCe efjhees&

ece meb
Sr. No.

veece
Name

heoveece
Position Held

31.03.2009 kees Oeeefjle yeQke Dee@]He ye[ewoe kes FeqkeJeer MesejeW keer mebKee

yeQke keer GhemeefceefleeeW keer meomelee (mebKee)

yeQke kes DeueeJee yeQke kes DeueeJee Deve efhheefCeeeb (yeQke SJeb Deve kebheefveeeW, efpeveceW Jes meome nQ, ceW Deve kebheefveeeW ceW kebheefveeeW keer GhemeefceefleeeW efveegefe kee mJehe ) Remarks (nature of appointment in the efveosMeke kes he ceW ceW meomelee/ DeOe#elee Bank & other Companies in which he/she is mesJeeSb (mebKee) (mebKee)
No. of Membership/ Chairmanship held in Sub Committees of other Companies i.e. Other than the Bank 2 member)

No. of No. of membership Directorship No. of in Sub held in other equity shares of Committees Companies i.e. Other the Bank of the Bank than the held as on Bank. 31.03.2009 100 5 4

eer Decejpeerle eeshe[e

Shri Amarjit Chopra

efveosMeke (iewj keee&heeueke) Jes vetvelece 15Je<eeX leke meveoer uesKeekeej jns neW.
Director (Non Executive) Has been a Chartered Accountant for not less than 15 years.

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(peer) kes lenle keW mejkeej eje 13.10.2006 keer heYeeJeer leejerKe mes veeefcele. Jes efvecveefueefKele efveosMeke ceb[ueeW kes Yeer efveosMeke nQ : (i) cesmeme& jerkees Dee@es efue. (ii) cesmeme& he Deees ceesefJme efue. (iii) FbjvesMeveue efmekeetjererpe efue. Jes jerkees Dee@es efue. keer uesKee hejer#ee meefceefle SJeb ces. jerkees Dee@es efue. keer MesejOeejke efMekeeele efveJeejCe meefceefle kes Yeer meome nw. Jes ces. peerSmeS SC[ SmeesefmeS ee&[& SkeeGbWmed ceW hee&vej nQ.
Nominated w.e.f. 13.10.2006 by the Central Government u/s 9(3)(g) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. He is also a Director on the Board of following Companies: (i) M/s Rico Auto Ltd. (ii) M/s Roop Auto Motives Ltd. (iii) International Securities Limited He is also member of Audit Committee of Rico Auto Ltd., and Shareholder Grievance Committee of M/s Rico Auto Limited. He is a partner in M/s GSA & Associates. Chartered Accountants.

[e@ Delegue DeeJeeue

efveosMeke (iewj

200

Metve
NIL

Dr. Atul Agarwal keee&heeueke) Director (Non Executive)

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(Se) kes lenle keW mejkeej eje 23.11.2007 keer heYeeJeer leejerKe mes veeefcele. Jes ces.mhesmeske S[JeeFpeme& (hee.) efue. kes efveosMeke ceb[ue kes efveosMeke Yeer nQ.
Nominated w.e.f. 23.11.2007 by the Central Government u/s 9(3)(h) of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. He is also a Director on the Board of M/s Spacetech Advisors (P) Limited.

10

[e@ Oecex Yeb[ejer

efveosMeke (iewj

600

Dr. Dharmendra keee&heeueke) Bhandari keWere mejkeej mes efYeVe

MesejOeejkeeW ceW mes egves ieS

Director (Non Executive) Elected from amongst Shareholders, other than Central Government.

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(S) kes lenle 23.12.2008 kees Deeeesefpele F&peerSce ceW yeQke kes keW mejkeej mes efYeVe MesejOeejkeeW eje 24.12.2008 mes 3 Je<e& kes efueS efveJee&efele. Jes efvecveefueefKele efveosMeke ceb[ueeW kes Yeer efveosMeke nQ : (i) cesmeme& pes.heer.cee@ie&ve cegegDeue Hedb[ Fbef[ee hee.efue. Jes ces.pes.heer.cee@ie&ve cegegDeue Hedb[ Fbef[ee hee. efue. keer uesKee hejer#ee meefceefle kes Yeer meome nw. Jes efvecveefueefKele mebmLeeDeeW kes meome /efveosMeke ceb[ue kes Yeer meome nw : (i) cesmeme& nejceesveer Hedej efmeuJej HedeGb[sMeve (ii) cesmeme& ef[efpeue efyepe HedeGb[sMeve Jes vesMeveue me@ke SkemeeWpe Dee@]Hed Fbef[ee efue. keer meomelee Devegceesove meefceefle kes Yeer meome nQ. Jes ces. Debpeefue megYee<e SmeesefmeSdme ee&[& SkeeGbWdme ceW Ske hee&vej Yeer nw. Jes keWere mejkeej mes efYeVe MesejOeejkeeW eje efveJee&eele nesves hej yeQke f kes efveosMeke ceb[ue kes efveosMeke 16.11.1999 mes 15.11.2002 Deewj 16.11.2005 mes 15.11.2008 leke jns nw.

150

Corporate Governance

ece meb
Sr. No.

veece
Name

heoveece
Position Held

31.03.2009 kees Oeeefjle yeQke Dee@]He ye[ewoe kes FeqkeJeer MesejeW keer mebKee

yeQke keer GhemeefceefleeeW keer meomelee (mebKee)

yeQke kes DeueeJee yeQke kes DeueeJee Deve efhheefCeeeb (yeQke SJeb Deve kebheefveeeW, efpeveceW Jes meome nQ, ceW Deve kebheefveeeW ceW kebheefveeeW keer GhemeefceefleeeW efveegefe kee mJehe ) Remarks (nature of appointment in the efveosMeke kes he ceW ceW meomelee/ DeOe#elee Bank & other Companies in which he/she is mesJeeSb (mebKee) (mebKee)
No. of Membership/ Chairmanship held in Sub Committees of other Companies i.e. Other than the Bank member)

No. of No. of membership Directorship No. of in Sub held in other equity shares of Committees Companies i.e. Other the Bank of the Bank than the held as on Bank. 31.03.2009

Elected by shareholders of the Bank other than the Central Government u/s 9((3)(i) of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 at the Extra-ordinary General Meeting held on 23.12.2008 for a period of 3 years from 24.12.2008. He is also a Director on the Boards of: (i) M/s J P Morgan Mutual Fund India Pvt. Ltd. He is also member of Audit Committee of M/s J.P. Morgan Mutual Fund India Pvt. Ltd. He is also a member/Director of the following : (i) M/s Harmony for Silver Foundation (ii) M/s Digital Bridge Foundation He is also a member on the Membership Approval Committee of National Stock Exchange of India Limited. He is a Partner in M/s Anjali Subhash Associates, Chartered Accountants. He has held the position of a Director of the Bank elected by Shareholders other than Central Government w.e.f.16.11.1999 to 15.11.2002 and w.e.f.16.11.2005 to 15.11.2008. 11

[e@ oerheke yeer.Hedeke

Dr. Deepak B. Phatak

efveosMeke (iewj keee&heeueke) kesb mejkeej mes efYeVe MesejOeejkeeW ceW mes efveJee&efele
Director (Non Executive) Elected from amongst Shareholders, other than Central Government.

100

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(DeeF&) kes lenle 23.12.2008 kees Deeeesefpele F&peerSce ceW yeQke kes keW mejkeej mes efYeVe MesejOeejkeeW eje 24.12.2008 mes 3 Je<e& kes efueS efveJee&efele. Jes Se[erSHedmeer Demes cewvespeceW kes efveosMeke ceb[ue ceW efveosMeke Yeer nQ. Jes efvecveefueefKele ieJeefveie keeQeqmeue kes Yeer meome nQ : (i) vesMeveue FvMeesjWme Dekeeoceer (ii) yeQeEkeie keee|ceke eeve mebmLeeve (iii) je^ere yeQke heyebOeve mebmLeeve Jes cew.Se[erSHemeer Deeeqmle heyebOeve keb.efue. keer ieenke mesJee meefceefle Deewj peesefKece heyebOeve meefceefle kes meome Yeer nQ. Jes keWere mejkeej mes efYeVe MesejOeejkeeW eje efveJee&efele nesves hej yeQke 16.11.2005 mes 15.11.2008 leke yeQke kes efveosMeke jns nQ.
Elected by shareholders of the Bank other than the Central Government u/s 9((3)(i) of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 at the Extra-ordinary General Meeting held on 23.12.2008 for a period of 3 years from 24.12.2008. He is also a Director on the Board of M/s HDFC Asset Management Co. Ltd. He is also a member of Governing Council of: (i) National Insurance Academy, (ii) Institute of Banking Personnel Selection (iii) National Institute of Bank Management. He is also a member of Customer Service committee and Risk Management Committee of M/s HDFC Asset Management Co. Ltd. He also held the position of a Director of the Bank elected by Shareholders other than Central Government w.e.f.16.11.2005 to 15.11.2008.

151

keeheexjs efveeb$eCe efjhees&

ece meb
Sr. No.

veece
Name

heoveece
Position Held

31.03.2009 kees Oeeefjle yeQke Dee@]He ye[ewoe kes FeqkeJeer MesejeW keer mebKee

yeQke keer GhemeefceefleeeW keer meomelee (mebKee)

yeQke kes DeueeJee yeQke kes DeueeJee Deve efhheefCeeeb (yeQke SJeb Deve kebheefveeeW, efpeveceW Jes meome nQ, ceW Deve kebheefveeeW ceW kebheefveeeW keer GhemeefceefleeeW efveegefe kee mJehe ) Remarks (nature of appointment in the efveosMeke kes he ceW ceW meomelee/ DeOe#elee Bank & other Companies in which he/she is mesJeeSb (mebKee) (mebKee)
No. of Membership/ Chairmanship held in Sub Committees of other Companies i.e. Other than the Bank member)

No. of No. of membership Directorship No. of in Sub held in other equity shares of Committees Companies i.e. Other the Bank of the Bank than the held as on Bank. 31.03.2009 125 2

12

eer ceewefueve S.Jew<CeJe

Shri Maulin A. Vaishnav

efveosMeke (iewj keee&heeueke) keW mejkeej mes efYeVe MesejOeejkeeW ceW mes efveJee&efele
Director (Non Executive) Elected from amongst Shareholders, other than Central Government.

Metve
Nil

Metve
Nil

yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(DeeF&) kes lenle 23.12.2008 kees Deeeesefpele F&peerSce ceW yeQke kes keW mejkeej mes efYeVe MesejOeejkeeW eje 24.12.2008 mes 3 Je<e& kes efueS efveJee&efele. efveJee&efele nesves mes henues, Jes yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(DeeF&) kes lenle Yeejle mejkeej eje veeefcele efkeS ieS Deewj leeie-he$e osves kes keejCe 28.11.2008 mes efveosMeke veneR jns.
Elected by shareholders of the Bank other than the Central Government u/s 9((3)(i) of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 at the Extra Ordinary General Meeting held on 23.12.2008 for a period of 3 years from 24.12.2008. Prior to his election, he was nominated by the Central Government under section 9(3) (h) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, and ceased to be a Director w.e.f. 28.11.2008 upon his resignation.

2.2 Je<e& kes oewjeve efveosMekeeW keer efveegefkele / keee&meceeefHle : (ke) keW mejkeej eje efveegkele/veeefcele:
(i) (ii) (iii)

2.2

Appointments/Cessation of Directors during the year (A) Appointed/Nominated by the Central Government: (i) Shri M. D. Mallya - (w.e.f. 07.05.2008) (ii) Shri Rajiv Kumar Bakshi- (w.e.f. 06.11.2008) (iii) Shri Amitabh Verma (w.e.f. 10.06.2008) (B) Elected from amongst Shareholders other than Central Government at the EGM held on 23.12.2008: (i) Dr Dharmendra Bhandari (w.e.f. 24.12.2008) (ii) Dr Deepak B. Phatak (w.e.f. 24.12.2008) (iii) Shri Maulin A. Vaishnav (w.e.f. 24.12.2008) (C) The following Directors ceased to be Directors during the year. (i) Shri Satish C. Gupta (w.e.f. 06.11.2008 on his appointment as CMD of United Bank of India) Shri G. C. Chaturvedi, IAS (w.e.f. 10.06.2008) Smt. Masarrat Shahid (w.e.f 15.09.2008 on completion of her tenure) Shri Manesh P. Mehta (w.e.f. 15.11.2008 - on completion of his tenure) Dr Dharmendra Bhandari (w.e.f. 15.11.2008 on completion of his tenure)

eer Sce. [er. ceuee (07.05.2008 mes) eer jepeerJe kegceej ye#eer (06.11.2008 mes) eer DeefceleeYe Jecee& (10.06.2008 mes)

(Ke) 23.12.2008 kees ngF& F&peerSce ceW keW mejkeej mes efYeVe MesejOeejkeeW ceW mes efveJee&efele :
(i)

(ie)

[e@. OeceX Yeb[ejer (24.12.2008 mes) (ii) [e@. oerHeke yeer. Heeke (24.12.2008 mes) (iii) eer ceewefueve S. Jew<CeJe (24.12.2008 mes) Je<e& kes oewjeve efvecveefueefKele efveosMeke, efveosMeke Heo mes cegkele ngS:
(i) (ii)

eer meleerMe meer. iegHlee (etveeFs[ yeQke Dee@He Fbef[ee kes

(ii) (iii) (iv) (v)

eer peer. meer. elegJexoer, DeeF&SSme (10.06.2008 mes) (iii) eerceleer cemej&le Meeefno (keee&keeue Hetje nesves Hej 15.09.2008 mes) (iv) eer ceves<e Heer. cesnlee (keee&keeue Hetje nesves Hej - 15.11.2008 mes) (v) [e@. OeceX Yeb[ejer (keee&keeue Hetje nesves Hej - 15.11.2008 mes)

152

Corporate Governance

(vi)

[e@. oerHeke yeer. Heeke (keee&keeue Hetje nesves Hej 15.11.2008 mes) (vii) eer ceewefueve S. Jew<CeJe (mejkeej eje veeefcele efveosMeke kes

(vi) Dr Deepak B. Phatak (w.e.f. 15.11.2008 on completion of his tenure) (vii) Shri Maulin A. Vaishnav (w.e.f. 28.11.2008 on his resignation as Govt. nominee Director) 2.3 Board Meetings: During the year under review, -16- Board Meetings were held on the following dates as against minimum of -6- meetings prescribed under Clause 12 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970. 14.06.2008 30.08.2008 14.11.2008 05.03.2009 21.07.2008 30.09.2008 13.12.2008 26.03.2009

2.3 efveosMeke ceb[ue keer yew"keW meceer#eeOeerve Je<e& kes oewjeve efveosMeke ceb[ue keer 16 yew"keW efvecveevegmeej Deeeesefpele keer ieF& peyeefke je<^ereke=le yeQke (HeyebOeve SJeb efJeefJeOe HeeJeOeeve) eespevee 1970 keer Oeeje-12 kes Debleie&le efveOee&efjle vetvelece 6 yew"keW Deeeesefpele kejvee DeefveJeee& nw.
19.05.2008 28.07.2008 11.10.2008 28.01.2009 20.05.2008 29.07.2008 25.10.2008 29.01.2009

GHeeg&kele efveosMeke ceb[ue keer yew"keeW ceW efveosMekeeW keer GHeefmLeefle kee yeewje efvecveevegmeej nw, pees Gvekes keee&keeue mes mebye nw :

The details of attendance of the Directors at the aforesaid Board Meetings held during their respective tenure are as under: DeJeefOe / Period

efveosMeke kee veece

Name of the Director

Gvekes keee&keeue kes oewjeve Deeeesefpele yew"kes Meetings held during the period of their tenure

yew"keW efpeveceW Yeeie efueee Meetings attended

eer Sce.[er.ceuee eer Jeer.mevleevejeceve eer meleerMe.meer.ieghlee eer jepeerJe kegceej ye#eer eer peer. meer. elegJexoer eer DeefceleeYe Jecee& eer S.meescemegvojce eer efceefuevo Sve.vee[keCeea eer jCepeerle kegceej epeea eer Decejpeerle eeshe[e eerceleer cemej&le Meeefno eer ceewefueve S. Jew<CeJe - Jener [e@.Delegue DeeJeeue [e. Oecex Yeb[ejer - Jener eer ceves<e heer.cesnlee [e@. oerheke yeer. Heeke - Jener -

Shri M. D. Mallya Shri V. Santhanaraman Shri Satish C. Gupta Shri Rajiv Kumar Bakshi Shri G. C. Chaturvedi Shri Amitabh Verma Shri A. Somasundaram Shri Milind N. Nadkarni

07.05.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 06.11.2008 06.11.2008 to 31.03.2009 01.04.2008 to 10.06.2008 10.06.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 31.03.2009

16 16 10 6 2 14 16 16 16 16 7 11 4 16 11 4 11 11 4

16 16 10 6 2 6 14 15 16 16 7 10 4 15 5 2 10 5 4

Shri Ranjit Kumar Chatterjee 01.04.2008 to 31.03.2009 Shri Amarjit Chopra Smt. Masarrat Shahid Shri Maulin A. Vaishnav -doDr Atul Agarwal Dr Dharmendra Bhandari -doShri Manesh P. Mehta Dr Deepak B. Phatak -do01.04.2008 to 31.03.2009 01.04.2008 to 14.09.2008 01.04.2008 to 27.11.2008 24.12.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 15.11.2008 24.12.2008 to 31.03.2009 01.04.2008 to 15.11.2008 01.04.2008 to 15.11.2008 24.12.2008 to 31.03.2009

153

keeheexjs efveeb$eCe efjhees&

2.4

Code of Conduct: The Code of Conduct for Board of Directors and Senior Management Personnel i.e. Core Management Team comprising of all General Managers and Departmental Heads, has been approved by the Board of Directors in compliance of Clause 49 of the Listing Agreement with Stock Exchanges. The said Code of Conduct is posted on Banks website www.bankofbaroda.com. All the Board Members and Senior Management Personnel have since affirmed the Code of Conduct.

2.4

Deeeej mebefnlee efveosMeke ceb[ue leLee Jeefj heyebOeve keee|ceke DeLee&led keesj heyebOeve erce, efpemeceW meYeer ceneheyebOeke leLee efJeYeeie hecegKe Meeefceue nQ, kes efueS meke SkemeeWpe ceW meteeryelee kejej keer Oeeje 49 keer Devegheeuevee ceW , Deeeej mebefnlee efveosMeke ceb[ue eje Devegceesefole kej oer ieF& nw. Ge Deeeej mebefnlee yeQke keer JesyemeeF www.bankofbaroda.com hej Yeer osKeer pee mekeleer nw. efveosMeke ceb[ue kes meYeer meomeeW leLee Jeefj heyebOeve keee|cekeeW ves Deeeej mebefnlee kes heefle menceefle Jee kej oer ns.
3.

Annual General Meeting: The Annual General Meeting of the shareholders of the Bank was held on 28th July 2008 at Vadodara, where the following Directors were present. Chairman & Managing Director Executive Director Executive Director Director Director Director Director (Chairman - ACB) Director Director Director (Chairman Shareholders/ Investors Grievance Committee)

3.

Jeee|<eke meeceeve yew"ke: Mesej OeejkeeW keer Jee|<eke meeceeve yew"ke Je[esoje ceW efo. 28 pegueeF&, 2008 kees ngF& Leer, efpemeceW efvecveefueefKele efveosMeke GheeqmLele Les :
1 2 3 4 5 6 7 8 9 10 eer Sce.[er.ceuee eer Jeer.mevleevejeceve eer meleerMe.meer.ieghlee eer S.meescemegvojce Shri M.D. Mallya Shri V. Santhanaraman Shri Satish C. Gupta Shri A. Somasundaram DeOe#e SJeb eyebOe efveosMeke keee&keejer efveosMeke keee&keejer efveosMeke efveosMeke efveosMeke efveosMeke efveosMeke (DeOe#e - Smeeryeer) efveosMeke efveosMeke efveosMeke (DeOe#e - Mesej Oeejke / efveJesMeke efMekeeele meceeOeeve meefceefle) 4.

eer efceefuevo Sve.vee[keCeea Shri Milind N. Nadkarni eer jCepeerle kegceej epeea Shri Ranjit Kumar Chatterjee Shri Amarjit Chopra eer Decejpeerle eeshe[e eerceleer cemej&le Meeefno [e@.Delegue DeeJeeue eer cevesMe heer.cesnlee Smt. Masarrat Shahid Dr. Atul Agarwal Shri Manesh P. Mehta

4.

efveosMekeeW/keee&heeuekeeW keer meefceefle: yeQke kes efveosMeke ceb[ue ves keeheexjs efveeb$eCe leLee peesefKece heyebOeve heCeeueer hej Yeejleere efjpeJe& yeQke SJeb Yeejle mejkeej kes efoMee- efveoxMeevegmeej efvecveevegmeej keee&veerefle kes cenlJehetCe& #es$eeW hej efveiejeveer jKeves nsleg efveosMekeeW/ keee&heeuekeeW keer efJeefYeVe meefceefleeeW kee ie"ve efkeee nw. efveosMeke ceb[ue eje ieef"le cenlJehetCe& meefceefleeeb efvecveevegmeej nQ: efveosMeke ceb[ue keer heyebOeve meefceefle yees[& keer uesKee hejer#ee meefceefle (Smeeryeer) MesejOeejkeeW/efveJesMekeeW keer efMekeeele efveJeejCe meefceefle Mesej DeblejCe meefceefle Deeeqmle oselee heyebOeve SJeb peesefKece heyebOeve meefceefle ieenke mesJee meefceefle heeefjeefceke meefceefle veeceebkeve meefceefle efveosMekeeW keer meefceefle ye[er jeefMe keer OeesKeeOe[er mebyebOeer meefceefle hejeceMe&oelee eeve meefceefle

Committee of Directors / Executives: The Board of Directors of the Bank has constituted various Committees of Directors and / or Executives to look into different areas of strategic importance in terms of Reserve Bank of India/SEBI/Government of India guidelines on Corporate Governance and Risk Management. The important Committees of the Board are as under:

Committee

4.1

Management Committee of the Board: In pursuance of Clause 13 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme,

4.1

efveosMeke ceb[ue keer heyebOeve meefceefle: yees[& keer heyebOeve meefceefle kee ie"ve efJee ceb$eeuee, Yeejle mejkeej eje

154

Corporate Governance

efkeS ieS mebMeesOeveeW kes meeLe heef"le je^ereke=le yeQke (heyebOeve SJeb efJeefJeOe heeJeOeeve) eespevee, 1970 kes kes Keb[ -13 kes DevegmejCe ceW efkeee ieee nw pees DeleefOeke cenlJehetCe& keejesyeejer ceeceues leLee DeefOeke jeefMe kes $e+Ce hemleeJe cebpetj kejves, mecePeewlee/yee Keelee hemleeJe, hetbpeeriele SJeb jepemJe Jee keer mJeerke=efle, heefjmej, efveJesMe, oeve Deeefo hej efJeeej kejleer nw. meefceefle ceW DeOe#e SJeb heyebOe efveosMeke, keee&keejer efveosMeke (ieCe) Deewj Oeeje 9(3)meer SJeb 9(3)(peer) kes lenle Yeejle mejkeej eje veeefcele efveosMeke leLee yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DevlejCe) DeefOeefveece 1970 keer Oeeje 9(3) keer GheOeeje (F&)(SHed)(Se) Je (DeeF&) kes lenle efveege efveosMekeeW ceW mes leerve efveosMekeeW kee meceeJesMe nw. 31.03.2009 kees meefceefle keer mebjevee Fme hekeej nw. (i) eer Sce.[er.ceuee (ii) eer Jeer.mevleevejeceve (iii) eer jepeerJe kegceej ye#eer (iv) eer S.meescemegvojce (v) eer efceefuevo Sve.vee[keCeea (vi) eer Decejpeerle eeshe[e (vii) [e@.Delegue DeeJeeue (viii) [e@. oerheke yeer. Heeke meceer#ee DeJeefOe kes oewjeve yees[& keer heyebOeve meefceefle keer efvecveebefkele leejerKeeW kees 22 yew"keW Deeesefpele ngF&.
08.04.2008 08.08.2008 14.11.2008 11.02.2009 18.04.2008 30.08.2008 27.11.2008 05.03.2009 21.05.2008 18.09.2008 12.12.2008 14.03.2009

1970 (as amended) read with the amendments made by the Ministry of Finance, Government of India, a Management Committee of the Board has been constituted to consider various business matters of material significance like sanction of high value loan proposals, compromise/ write-off proposals, sanction of capital and revenue expenditure, premises, investments, donations etc. The Committee consists of Chairman & Managing Director, Executive Director (s) and Directors nominated by Government of India under Section 9(3)(c) & 9(3) (g) and three Directors from amongst those appointed under sub section (e) (f) (h) and (i) of Section 9(3) of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. The composition of the committee as on 31.03.2009 is as under: (i) Shri M.D. Mallya (ii) Shri V. Santhanaraman (iii) Shri Rajiv Kumar Bakshi (iv) Shri A. Somasundaram (v) Shri Milind N. Nadkarni (vi) Shri Amarjit Chopra (vii) Dr. Atul Agarwal (viii) Dr. Deepak B. Phatak During the period under review, the Management Committee of the Board (MCB) met on twenty two occasions on the following dates: 14.06.2008 01.10.2008 27.12.2008 23.03.2009 05.07.2008 11.10.2008 17.01.2009 21.07.2008 24.10.2008 28.01.2009

efveosMeke meomeeW keer GheeqmLeefle mebyebOeer efJeJejCe efvecveevegmeej nw:

efveosMeke kee veece Name of the Director

The details of the attendance of the Directors are as detailed below: DeJeefOe Gvekes keee&keeue kes oewjeve yew"keW efpeveceW Yeeie Deeeesefpele yew"keW efueee Period Meetings held during the period of their tenure 20 22 12 10 22 12 22 4 4 4 4 9 5 9 4 Meetings attended 20 22 10 9 18 11 21 3 4 4 4 5 4 9 2

eer Sce.[er.ceuee eer Jeer.mevleevejeceve eer meleerMe meer.ieghlee eer jepeerJe kegceej ye#eer eer S.meescemegvojce eer jCepeerle kegceej epeea eer Decejpeerle eeshe[e [e@.Delegue DeeJeeue -Jenereer ceves<e heer.cesnlee eerceleer cemej&le Meeefno [e. Oecex Yeb[ejer eer ceewefueve S. Jew<CeJe eer efceefuevo Sve.vee[keCeea [e@. oerheke yeer. Heeke

Shri M. D. Mallya Shri V. Santhanaraman Shri Satish C. Gupta Shri Rajiv Kumar Bakshi Shri A. Somasundaram Shri Ranjit Kumar Chatterjee Shri Amarjit Chopra Dr Atul Agarwal -doShri Manesh P. Mehta Smt. Masarrat Shahid Dr Dharmendra Bhandari Shri Maulin A. Vaishnav Shri Milind N. Nadkarni Dr Deepak B. Phatak

07.05.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 06.11.2008 06.11.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.07.2008 to 31.12.2008 01.04.2008 to 31.03.2009 01.04.2008 to 30.06.2008 29.01.2009 to 31.03.2009 01.04.2008 to 30.06.2008 01.07.2008 to 14.09.2008 01.07.2008 to 15.11.2008 30.09.2008 to 27.11.2008 16.11.2008 to 31.03.2009 29.01.2009 to 31.03.2009

155

keeheexjs efveeb$eCe efjhees&

4.2 Audit Committee of Board (ACB):

4.2

yees[& keer uesKee hejer#ee meefceefle:(Smeeryeer)

The Bank, in consonance with the fundamentals of Corporate Governance and in pursuance of directives of the Reserve Bank of India, has constituted an Audit Committee of the Board comprising of Six Directors. A Non-Executive Director who is a Chartered Accountant is the Chairman of the Committee. The composition of the Committee as on 31st March, 2009 is as under: (i) Shri Amarjit Chopra (ii) Shri V. Santhanaraman (iii) Shri Rajiv Kumar Bakshi (iv) Shri Amitabh Verma (v) Shri A. Somasundaram (vi) Dr Atul Agarwal Chairman Member Member (Appointed from 06.11.2008) Member Member Member (Appointed from 15.11.2008)

kes efoMee- efveoxMeeW kes DevegmejCe ceW, yees[& keer uesKee hejer#ee meefceefle ieef"le keer nw efpemeceW 6 efveosMeke nQ. Ske iewj keee&keejer efveosMeke, pees efke meveoer uesKeekeej nQ, meefceefle kes DeOe#e nQ. 31.03.2009 kees meefceefle keer mebjevee Fme hekeej nw.
i. ii. iii.

eer Decejpeerle eeshe[e eer Jeer.mevleevejeceve eer jepeerJe kegceej ye#eer eer DeefceleeYe Jecee& eer S.meescemegvojce [e@.Delegue DeeJeeue

iv. v. vi.

DeOe#e meome meome (06.11.2008 mes efveegkele) meome meome meome (15.11.2008 mes efveegkele)

efJeeere Je<e& 2008-09 kes oewjeve Smeeryeer ceW efvecveefueefKele efveosMeke Gvekes mece#e GequueefKele leejerKeeW mes meome veneR jns.
i. ii.

The following Directors ceased to be members of ACB during the financial year 2008-09 on the dates shown against their respective names: (i) Shri Satish C. Gupta (ii) Dr Deepak B. Phatak 06.11.2008 15.11.2008

eer meleerMe meer.ieghlee [e@. oerheke yeer. Heeke

06.11.2008 15.11.2008

efJeeere Je<e& 2008-09 kes oewjeve yees[& keer Smeeryeer keer 10 yew"keW efvecveefueefKele leejerKeeW Hej Deeeesefpele keer ieF&.
18.04.2008 29.07.2008 19.05.2008 30.09.2008

During the year 2008-09, the Audit Committee of the Board (ACB) met on ten occasions on the dates given below: 14.06.2008 24.12.2008 05.07.2008 29.01.2009

13.06.2008 25.10.2008

yees[& keer uesKee hejer#ee meefceefle keer Je<e& kes oewjeve meomeeW keer GheeqmLeefle kes yeewjs efvecveevegmeej nQ.
efveosMeke kee veece Name of the Director DeJeefOe/Period

Attendance of members in the Meetings of Audit Committee of the Board held during the year: Gvekes keee&keeue kes oewjeve Deeeesefpele yew"ke Meetings held during the period of their tenure yew"keW efpeveceW Yeeie efueee Meetings attended 10 10 7 2 1 3 9 2 8

eer Decejpeerle eeshe[e eer Jeer.mevleevejeceve eer meleerMe meer.ieghlee eer jepeerJe kegceej ye#eer eer peer.meer elegJexoer eer DeefceleeYe Jecee& eer S.meescemegvojce [e@.Delegue DeeJeeue [e@. oerheke yeer. Heeke

Shri Amarjit Chopra Shri V. Santhanaraman Shri Satish C. Gupta Shri Rajiv Kumar Bakshi Shri G. C. Chaturvedi Shri Amitabh Verma Shri A. Somasundaram Dr Atul Agarwal Dr Deepak B. Phatak

01.04.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 06.11.2008 06.11.2008 to 31.03.2009 01.04.2008 to 10.06.2008 10.06.2008 to 31.03.2009 01.04.2008 to 31.03.2009 15.11.2008 to 31.03.2009 01.04.2008 to 15.11.2008

10 10 8 2 2 8 10 2 8

uesKee hejer#ee meefceefle kee, Deve yeeleeW kes meeLe meeLe, hecegKe keee& yeQke keer efJeeere metevee heCeeueer keer meceer#ee Deewj Deekeueve kejvee nw leeefke en megefveeqele nes mekes efke efJeeere efJeJejefCeeeb mener, Gheege Deewj efJeemeveere nQ. en meefceefle yees[& kees hemlegle kejves mes henues efleceener/Jeee|<eke efJeeere efJeJejefCeeeW keer heyebOeve kes meeLe meceer#ee kejleer nw. en uesKee hejer#ee meefceefle efoMee- efveoxMe osleer nw leLee yeQke kes meceie uesKee hejer#ee keeeeX keer meceer#ee kejleer nw efpemeceW mebie"ve heefjeeueve leLee Deebleefjke uesKee hejer#ee keer iegCeJeee efveeb$eCe,keee& Deebleefjke efveeb$eCe oes<e Deewj yeQke keer

The main functions of Audit Committee inter-alia include assessing and reviewing the financial reporting system of the Bank to ensure that the financial statements are correct, sufficient and credible. It reviews and recommends to the Management the quarterly / annual financial statements before their submission to the Board. The Audit Committee provides directions and oversees the operations of total audit functions of the Bank including the organization, operation and quality control of internal audit, internal control weaknesses and inspection within the Bank

156

Corporate Governance

Deebleefjke efvejer#eCe JeJemLee, yeQke keer meebefJeefOeke /yeee uesKee hejer#ee mebyebOeer DevegJeleea keej&JeeF& leLee Yeejleere efj]peJe& yeQke kes efvejer#eCeb Meeefceue nQ. meefceefle Deebleefjke efveeb$eCe heCeeueer, Deebleefjke uesKee hejer#ee efJeYeeie keer mebjevee, Fmekeer meHed mebjevee keer meceer#ee Yeer kejleer nw Deewj efkemeer cenlJehetCe& Keespe kes mebyebOe ceW Deebleefjke uesKee hejer#ekeeW/ efvejer#ekeeW kes meeLe efJeeej- efJeceMe& leLee Gme hej DevegJeleea keej&JeeF& kejleer nw. en yeQke keer efJeeere Je peesefKece heyebOeve veerefleeeW keer meceer#ee Yeer kejleer nw. meebefJeefOeke uesKee hejer#ee kes meboYe& ceW uesKee hejer#ee meefceefle, Jeee|<eke/efleceener efJeeere meeLe efJeeej-efJeceMe& kejleer nw. en meefceefle ueebie Hedece& Dee@ef[ efjhees& (LFAR) keer efJeefYeVe ceoeW hej DevegJeleea keej&JeeF& Yeer kejleer nw. 4.3 MesejOeejkeeW/ efveJesMekeeW keer efMekeeele efveJeejCe meefceefle: yeQke ves MesejOeejkeeW leLee efveJesMekeeW keer efMekeeeleeW, eefo keesF& neW, kes efveJeejCe nsleg MesejOeejke / efveJesMeke efMekeeele efveJeejCe meefceefle kee ie"ve efkeee nw. Fme meefceefle ceW efvecveevegmeej meome nQ: (i) keee&keejer efveosMekeieCe SJeb (ii) eej Deve iewj keee&keejer efveosMeke Fmekes meome Deewj Ske iewj - keee&keejer efveosMeke Fmekes DeOe#e nQ. 31.3.2009 leke meefceefle keer mebjevee Fme ekeej nw: (i) (ii) (iii) (iv) (v) (vi) eer Jeer.mevleevejeceve eer jepeerJe kegceej ye#eer eer efceefuevo Sve.vee[keCeea eer jCepeerle kegceej epeea eer ceewefueve S. Jew<CeJe DeOe#e [e@. Oecex Yeb[ejer meceer#eeOeerve Je<e& kes oewjeve meefceefle keer efvecveefueefKele leejerKeeW Hej 04 yew"keW Deeeesefpele keer ieF :
14.06.2008 30.09.2008

and follow-up of the suggestions of Statutory/External audit of the Bank and RBI inspections. The Committee also reviews the adequacy of internal control systems, structure of internal audit department, its staffing pattern and hold discussions with the internal auditors / inspectors on any significant finding and follow-up action thereon. It further reviews the financial and risk management policies of the Bank. As for Statutory Audit, the Audit Committee interacts with the Statutory Central Auditors before finalization of Quarterly / Annual Financial Accounts and Reports. It also maintains follow up on various issues raised in the Long Form Audit Report (LFAR). 4.3 Shareholders / Investors Grievances Committee: The Shareholders / Investors Grievances Committee has been constituted by the Bank to redress shareholders and investors complaints, if any. The Committee includes following members: (i) (ii) Executive Director (s) and Four other Non-Executive Directors as its members with a Non-Executive Director as its Chairman.

The composition of the Committee as on 31.03.2009 is as under: (i) (ii) (iii) (iv) (v) (vi) Shri V. Santhanaraman Shri Rajiv Kumar Bakshi Shri Milind N. Nadkarni Shri Ranjit Kumar Chatterjee Shri Maulin A. Vaishnav Dr. Dharmendra Bhandari Chairman

The Committee met four times during the year under review on the following dates. 14.11.2008 05.03.2009

meefceefle keer yew"keeW ceW efveosMekeesb keer Gvekes keee&keeue kes oewjeve GHeefmLeefle kee efJeJejCe Fme ekeej nw:
Name of the Director

The details of attendance of the Directors at the Meetings of the Committee held during their respective tenure are as under: Gvekes keee&keeue kes oewjeve Deeeesefpele yew"ke yew"keW efpeveceW Yeeie efueee Meetings held during the period of their tenure 3 Meetings attended 3

efveosMeke kee veece

DeJeefOe/Period

Shri Manesh P. Mehta

01.04.2008 to 15.11.2008

eer ceves<e heer.cesnlee (meefceefle kes DeOe#e) eer Sce.[er.ceuee DeOe#e SJeb eyebOe efveosMeke eer Jeer.mevleevejeceve keee&keejer efveosMeke eer meleerMe.meer.ieghlee keee&keejer efveosMeke

(Chairman of the Committee) Shri M. D. Mallya Chairman & MD Shri V. Santhanaraman Executive Director Shri Satish C. Gupta Executive Director

07.05.2008 to 29.08.2008 01.04.2008 to 31.03.2009 01.04.2008 to 05.11.2008

1 4 2

1 4 2

157

keeheexjs efveeb$eCe efjhees&

Name of the Director

efveosMeke kee veece

DeJeefOe/Period

Gvekes keee&keeue kes oewjeve Deeeesefpele yew"ke yew"keW efpeveceW Yeeie efueee Meetings held during the period of their tenure 1 3 1 Meetings attended 1 3 1

Smt. Masarrat Shahid

01.04.2008 to 14.09.2008 01.04.2008 to 28.11.2008 29.01.2009 to 31.03.2009

eerceleer cemej&le Meeefno eer ceewefueve S. Jew<CeJe eer ceewefueve S. Jew<CeJe meefceefle kes DeOe#e eer efceefuevo Sve. vee[keCeea eer jepeerJe kegceej ye#eer eer jCepeerle kegceej epeea [e@. Oecex Yeb[ejer

Shri Maulin Vaishnav Shri Maulin A. Vaishnav (Chairman of the Committee) Shri Milind N. Nadkarni Shri Rajiv Kumar Bakshi Shri Ranjit Kumar Chatterjee

30.08.2008 to 31.03.2009 06.11.2008 to 31.03.2009 30.09.2008 to 31.03.2009

3 2 2 1

3 2 2 1

Dr Dharmendra Bhandari 29.01.2009 to 31.03.2009

meefceefle en megefveefele kejleer nw efke DeblejCe, GHe efJeYeepeve, meceskeve, veJeerkejCe, efJeefvecee DeLeJee ceebie/DeeJebve jeefMe kes Hejebkeve keer HemlegefleleejerKe mes Ske ceen kes Yeerlej meYeer HeceeCe-He$e peejer kej efoS peeSb. meefceefle kejleer nw. Je<e& kes oewjeve HeeHle SJeb efveJeejCe keer ieF& efMekeeeleeW/efveJesoveeW keer mebKee kee meejebMe veeres efoee ieee nw. 01.04.08 kees yekeeee
Pending as on 01.04.2008 49

The Committee ensures that all share certificates are issued within a period of one month of the date of lodgment for transfer, sub-division, consolidation, renewal, exchange or endorsement of calls / allotment money. The Committee further monitors the redressal of investors complaints in a time bound manner. The summary of No. of requests/complaints received and resolved during the year is as under:

Je<e& kes oewjeve HeeHle

Received during the year 7224

Je<e& kes oewjeve efveJeejCe

Resolved during the year 7260

31.03.2009 kees yekeeee

Pending as on 31.03.2009 13*

* Je<e& kes oewjeve yekeeee meYeer 13 DeeJesove [gHueerkes Mesej meef&efHekes peejer kejves mes mebyebefOele DevegjesOe He$e Les leLee Fvekes mebyebOe ceW DeHesef#ele Heefeee/ keej&JeeF& keer pee jner nw. eer Sce.Sue. pewve, meneeke ceneeyebOeke SJeb kebHeveer meefeJe kees me@ke SkemeeWpeeW kes meeLe meteerkejCe DevegyebOe kes Keb[ 47 (S) kes lenle yeQke kes

*All 13 requests pending as at the end of the year were pertaining to the request for issue of duplicate share certificates, in respect of which the necessary formalities were in process. Shri M.L Jain, Assistant General Manager & Company Secretary has been designated as the Compliance Officer of the Bank under Clause 47 (a) of the Listing Agreement with Stock Exchanges. 4.4 Share Transfer Committee: Besides the Shareholders / Investors Grievances Committee, the Bank has constituted a Share Transfer Committee comprising of Chairman and Managing Director, Executive Directors, -2- General Managers and Deputy General Manager (Legal) as members. The Committee meets at least once in 15- days to effect transfer of Shares / Bonds. The Committee met thirty eight times during the period under review, on the following dates: 23.04.2008 09.06.2008 24.07.2008 15.10.2008 15.12.2008 03.02.2009 30.04.2008 21.06.2008 09.08.2008 27.10.2008 19.12.2008 20.02.2009 06.05.2008 25.06.2008 22.08.2008 05.11.2008 31.12.2008 02.03.2009

4.4 Mesej DeblejCe meefceefle : MesejOeejkeeW / efveJesMekeeW keer efMekeeele efveJeejCe mes mebyebefOele meefceefle kes Deefleefjkele, yeQke ves keee&HeeuekeeW keer Ske Mesej DeblejCe meefceefle ieef"le keer nw. DeOe#e SJeb HeyebOe efveosMeke, keee&keejer efveosMeke, 2 ceneHeyebOeke leLee GHe ceneHeyebOeke (efJeefOe) Fmekes meome nQ. 15 efove ceW meefceefle keer kece mes kece Ske yew"ke Deeeesefpele nesleer nw efpemekee Heeespeve MesejeW/yee@v[eW kes DeblejCe keer Heefeee kees lespe kejvee neslee nw. meceer#eeOeerve DeJeefOe kes oewjeve meefceefle keer 38 yew"keW ngF& efpemekee efJeJejCe efvecveevegmeej nw :
01.04.2008 13.05.2008 27.06.2008 08.09.2008 11.11.2008 02.01.2009 14.03.2009 08.04.2008 28.05.2008 03.07.2008 20.09.2008 24.11.2008 20.01.2009 28.03.2009 11.04.2008 04.06.2008 18.07.2008 04.10.2008 26.11.2008 23.01.2009

158

Corporate Governance

4.5

4.5 Deeefmle oselee HeyebOeve meefceefle SJeb peesefKece HeyebOeve4 meefceefle : yeQke ves Ske efveosMeke ceb[ue mlejere peesefKece HeyebOeve meefceefle kee ie"ve efkeee nw pees Deeefmle oselee HeyebOeve SJeb peesefKece HeyebOeve Hej efveosMeke ceb[ue keer peesefKece keer meceer#ee SJeb cetueebkeve kejleer nw. meefceefle keer DeOe#elee DeOe#e SJeb HeyebOe efveosMeke kejles nQ leLee 31.03.2009 kees meefceefle keer mebjevee Fme Hekeej nw : 1. 2. 3. 4. 5. eer Sce.[er.ceuee eer Jeer.mevleevejeceve eer jepeerJe kegceej ye#eer eer S.meescemegvojce [e@. Oecex Yeb[ejer DeOe#e meome meome meome meome

Asset Liability Management & Risk Management Committee: Bank has constituted a Board level Risk Management Committee known as Sub-Committee of the Board on ALM and Risk Management to review and evaluate the overall risks assumed by the Bank. The Committee is headed by Chairman and Managing Director and its composition as on 31.03.2009 is as under: 1. 2. 3. 4. 5. Shri M. D. Mallya Shri V. Santhanaraman Shri Rajiv Kumar Bakshi Shri A. Somasundaram Dr Dharmendra Bhandari Chairman Member Member Member Member

meefceefle keer efvecveefueefKele leejerKeeW kees -3- yew"kesb ngF&.

13.06.2008 01.10.2008 05.03.2009

The Committee met three times during the year on the following dates: 13.06.2008 01.10.2008 05.03.2009

The details of attendance of Directors are as under:

yew"keeW ceW efveosMekeeW keer GHeefmLeefle Fme Hekeej jner.

Name of the Director

efveosMeke kee veece

DeJeefOe/Period

Gvekes keee&keeue kes oewjeve Deeeesefpele yew"ke Meetings held during the period of their tenure

yew"keW efpeveceW Yeeie efueee Meetings attended 3 3 2 1 3 1 1

eer Sce.[er.ceuee eer Jeer.mevleevejeceve eer meleerMe.meer.ieghlee eer jepeerJe kegceej ye#eer eer S.meescemegvojce [e. Oecex Yeb[ejer -Jener-

Shri M. D. Mallya Shri V. Santhanaraman Shri Satish C. Gupta Shri Rajiv Kumar Bakshi Shri A. Somasundaram Dr Dharmendra Bhandari -do-

07.05.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 05.11.2008 06.11.2008 to 31.03.2009 01.04.2008 to 31.03.2009 01.04.2008 to 15.11.2008 29.01.2009 to 31.03.2009

3 3 2 1 3 2 1

yeQke ves efJeefYevve peesefKeceeW eLee esef[ peesefKece, yeepeej peesefKece leLee Heefjeeueveiele peesefKece kee Helee ueieeves, HeyebOeve, DevegHeJele&ve leLee efveeb$eCe kees Oeeve ceW jKeles ngS yeQke ceW mecegefele peesefKece HeyebOeve {ebee leweej efkeee nw efpemeceW peesefKece mebjeveelceke {ebee, peesefKece efmeeble, peesefKece Heefeee, peesefKece efveeb$eCe leLee peesefKece eyevOeve uesKee Hejer#ee Meeefceue nQ. Fmekee cegKe GsMe yeQke kes je<^ere SJeb Debleje&<^ere HeefjeeueveeW kees efvejblej yesnlej SJeb keee&kegMeue yeveevee nw Deewj yeQke mebj#ee Hej Oeeve osvee nw.

The Bank has set up an appropriate risk management architecture, comprising Risk Management Organizational Structure, Risk Principles, Risk Processes, Risk Control and Risk Audit, all with a view to ideally identify, manage, monitor and control various categories of risks, viz. Credit Risk, Market Risk and Operational Risk, etc. The underlying objective is to ensure continued stability and efficiency in the operations of the Bank, nationally and internationally and to look after the safety of the Bank. 4.6 (i) Customer Service Committees : Customer Service Committee of the Board The Bank has constituted a sub-committee of Board, known as Customer Service Committee of the Board. The Committee 31.03.2009: has the following members as on

4.6 ieenke mesJee meefceefleeeb :

(i)

efveosMeke ceb[ue keer eenke mesJee meefceefle yeQke ves efveosMeke ceb[ue keer Ske GHemeefceefle kee ie"ve efkeee nw pees 'efveosMeke ceb[ue keer ieenke mesJee meefceefle' kes veece mes peeveer peeleer nw.

31.03.2009 kees meefceefle kes efvecveefueefKele meome nQ. 1. eer Sce.[er.ceuee DeOe#e SJeb HeyebOe efveosMeke 2. eer Jeer.mevleevejeceve keee&keejer efveosMeke 3. eer jepeerJe kegceej ye#eer keee&keejer efveosMeke 4. eer S.meescemegvojce efveosMeke

(i) Shri M.D. Mallya (ii) Shri V. Santhanaraman (iii) Shri Rajiv Kumar Bakshi (iv) Shri A. Somasundaram

Chairman and Managing Director Executive Director Executive Director Director

159

keeheexjs efveeb$eCe efjhees&

Fmekes keeeeX ceW ieenke mesJeeDeeW keer iegCeJeee kees yesnlej yeveeves kes efueS megPeeJe leLee veJeesvces<eer GHeeeeW kes efueS HuesHeece& kee me=peve kejvee leLee meYeer mebJeie& kes ieenkeeW kes efueS meblegef< kes mlej ceW megOeej kejvee Meeefceue nw leLee efvecveefueefKele kee meceeJesMe nw : i. meeJe&peefveke mesJeeDeeW keer Heefeee SJeb keee&efve<Heeove uesKee Hejer#ee mebyebOeer mLeeeer meefceefle kes keeeeX keer osKejsKe kejvee leLee ieenke mesJeeDeeW keer mLeeeer meefceefle keer efmeHeeefjMeeW kes DevegHeeueve kees megefveefele kejvee. ii. DeefOeefveCe&e keer leejerKe mes leerve cenerves mes DeefOeke DeJeefOe yeerle peeves hej Yeer ueeiet ve efkees iees yekeeee DeefOeefveCe&eeW leLee yeQefkebie ueeskeHeeue eje yeQefkebie mesJeeSb Heoeve kejves ceW HeeF& ieF& keefceeeW keer efmLeefle keer meceer#ee kejvee. iii. ce=le peceekelee&DeeW / uee@kej efkejeesoejeW / megjef#ele DeefYej#ee ceW jKeer ieF& JemlegDeeW kes peceekelee&DeeW mes mebyebefOele efveHeeve nsleg 15 efoveeW keer DeJeefOe mes DeefOeke kes yekeeee oeJeeW keer mebKee keer efmLeefle mebyebOeer meceer#ee kejvee. 31.03.2009 kees meceehle efJeeere Je<e& kes oewjeve yees[& keer eenke mesJee meefceefle keer efoveebke 21.05.2008, 11.10.2008 leLee 26.03.2009 kees ngF& yew"keeW ceW GHeefmLeefle mebyebOeer efJeJejCe efvecveevegmeej nQ :
Name of the Director

The functions of this include creating a platform for making suggestions and innovative measures for enhancing the quality of customer services and improving the level of satisfaction for all categories of clientele, at all times, and comprises the following: i. oversee the functioning of the Standing Committee on Procedure and Performance Audit on Public Services and also compliance with the recommendation of the Standing Committee on Customer Services. review the status of the Awards remaining unimplemented for more than 3 months from the date of Awards and also deficiencies in providing Banking services as observed by the Banking Ombudsman. review the status of the number of deceased claims remaining pending / outstanding for settlement beyond 15 days pertaining to deceased depositors/locker hirers/depositor of safe custody articles.

ii.

iii.

The details of attendance of the Directors in meetings of Customer service Committee of the Board held on 21.05.2008, 11.10.2008 and 26.03.2009 during the year ended 31.03.2009 are as under: Gvekes keee&keeue kes oewjeve Deeeesefpele yew"ke Meetings held during the period of their tenure yew"keW efpeveceW Yeeie efueee Meetings attended 3 3 2 1 3

efveosMeke kee veece

DeJeefOe/Period

eer Sce.[er.ceuee eer Jeer.mevleevejeceve eer meleerMe.meer.ieghlee eer jepeerJe kegceej ye#eer eer S.meescemegvojce
(ii)

Shri M. D. Mallya Shri Satish C. Gupta

07.05.2008 to 31.03.2009 01.04.2008 to 05.11.2008

3 3 2 1 3

Shri V. Santhanaraman 01.04.2008 to 31.03.2009 Shri Rajiv Kumar Bakshi 06.11.2008 to 31.03.2009 Shri A. Somasundaram 01.04.2008 to 31.03.2009 (ii)

Standing Committee on Customer Service: Besides, the Sub Committee of the Bank comprising Directors of the Board, as per the guidelines of Reserve Bank of India, the Bank has also set up a Standing Committee on Procedures and Performance Audit on Customer Services having four General Managers of the Bank and three other eminent public personalities as members. The Committee is chaired by the Executive Director of the Bank. This Committee has been set up to focus on the banking services available to the public at large and focusing on the need to (i) benchmark the current level of service, (ii) review the progress periodically, (iii) enhance the timeliness and quality, (iv) rationalize the processes taking into account technological developments, and (v) suggest appropriate incentives to facilitate change on an ongoing basis.

eenke mesJee mebyebOeer mLeeeer meefceefle Yeejleere efj]peJe& yeQke kes efoMee efveoxMeeW kes Devegmeej, yeQke kes efveosMekeeW keer ieef"le GHemeefceefle kes Deefleefjkele yeQke ves ieenke mesJeeDeeW Hej eefeeeDeeW leLee
keee&efve<Heeove uesKeeHejer#ee Hej Ske mLeeeer meefceefle kee Yeer ie"ve efkeee nw efpemeceW yeQke kes 4 ceneHeyebOeke SJeb 3 Deve eefleefle meeJe&peefveke Jeefkele

efveosMeke eje keer peeleer nw.

Hej Oeeve kesefvle kejves leLee (i) mesJee kes ceewpetoe mlej kes yeWeceeke& (ii) DeeJeefOeke Heieefle keer meceer#ee (iii) meceeyelee SJeb iegCeJeee kees ye{eves (iv) Heeweesefiekeer Gvveeve kes cesvepej Heefeee kees egefkelemebiele yeveeves (v) HeefjJeefle&le HeefjefmLeefleeeW kes DevegHe mecegefele Heeslmeenve nsleg megPeeJe osves keer DeeJeMekelee Hej Oeeve osves nsleg efkeee ieee nw.

160

Corporate Governance

4.7

4.7 Heeefjeefceke meefceefle : Yeejle mejkeej ves DeHeveer DeefOemetevee mebKee SHe veb.20/1/2005 yeerDees. DeeF& efoveebke 09 ceee&, 2007 kes eje meeJe&peefveke #es$e kes yeQkeeW kes HetCe&keeefueke efveosMekeeW kes efueS keee&efve<Heeove mebye Heeslmeenve keer Iees<eCee keer. en Heeslmeenve efJeiele efJeeere Je<e& kes oewjeve efJeefYevve DevegHeeuevee efjHeeseX Hej DeeOeeefjle ue#eeW SJeb yeWeceeke& kes DevegHe keee&efve<Heeove cetueebkeve, efpemeceW iegCeJeee Deewj cee$ee oesveeW kee meceeJesMe nw, Hej DeeOeeefjle nw. Gkele efoMee efveoxMeeW kes DevegHeeueve ceW Je<e& kes oewjeve keee&efve<Heeove kes cetueebkeve leLee ose/DeJee[& keer peeves Jeeueer Heeslmeenve jeefMe nsleg efveosMeke ceb[ue keer Heeefjeeefceke meefceefle kee ie"ve efkeee ieee. efveosMeke ceb[ue kes efveosMekeeW keer meefceefle keer 31.03.2009 keer mebjevee Fme Hekeej nw : veece eer DeefceleeYe Jecee& eer S.meescemegvojce eer Decejpeerle eeshe[e [e. Oecex Yeb[ejer Heo meome meome meome meome

Remuneration Committee : Government of India announced Performance Linked Incentives for Whole Time Directors of Public Sector Banks vide Notification No.F No.20/1/2005-BO.I dated 9th March 2007. The incentive is based on certain qualitative as well as quantitative parameters fixed for Performance Evaluation Matrix on the basis of the statement of intent on goals and benchmarks based on various compliance reports during the previous financial year. In compliance of the said directives, a Remuneration Committee of the Board was constituted for evaluation of the performance and incentive amount to be awarded/paid during the year. The composition of the Committee comprising Directors of the Board as on 31.03.2009 is as under: Name Shri Amitabh Verma Shri A. Somasundaram Shri Amarjit Chopra Dr. Dharmendra Bhandari Position Member Member Member Member

efJeeere Je<e& 2008-09 kes oewjeve meefceefle keer 20.05.2008 kees Ske yew"ke ngF& efpemeceW meYeer meome GHeefmLele Les. THej GefuueefKele DeefOemetevee keer MeleeX kes DevegHe meefceefle ves efJeeere Je<e& 2007-08 kes efueS veeres efoes ieS efJeJejCe kes Devegmeej efvecveefueefKele efveosMekeeW kees eeslmeenveeW kee Yegieleeve kejves kee efveCe&e efueee.
e. meb.
Sr.No

During the Financial Year 2008-09, the Committee met once on 20.05.2008 when all members were present. In terms of the aforesaid notification, the Committee decided to pay incentives for the year 2007-08 to the following Directors as per details given below:

veece /Heoveece

Name / Designation

efJelleere Je<e& 2007-08 nsleg keee&efve<heeove mebye eeslmeenve jeefMe (Hees)

Performance Linked Incentives for the Financial Years 2007- 08 (Rs.)

Dr. Anil K. Khandelwal

8,00,000

[e@.Deefveue kes. Keb[sueJeeue DeOe#e SJeb HeyebOe efveosMeke

2

Chairman and Managing Director Shri V. Santhanaraman 6,50,000

eer Jeer.mevleevejeceve keee&keejer efveosMeke

3

Executive Director Shri Satish C. Gupta* Executive Director * Incentive payment made in proportion to his respective tenure in the Bank. 4.8 Nomination Committee : Reserve Bank of India has laid down Fit and Proper criteria to be fulfilled by persons to be elected as directors on the Boards of the Nationalized Banks under the provisions of Section 9(3)(i) of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/80. In terms of the guidelines issued by Reserve Bank of India a Nomination Committee is required to be formed consisting of a minimum of three directors (all independent/non executive directors) from amongst the Board of Directors. In compliance of the said directives, 5,34,247

eer meleerMe meer. iegHlee* keee&keejer efveosMeke

* Heeslmeenve jeefMe kee Yegieleeve yeQke ceW Gvekeer keee&keeue DeJeefOe kes DevegHeele ceW

efkeee ieee. 4.8 veeceebkeve meefceefle: Yeejleere efjpeJe& yeQke ves yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve Deewj DevlejCe) DeefOeefveece 1970/80 keer Oeeje 9(3)(DeeF&) kes HeeJeOeeveeW kes Debleie&le 'efHe SC[ ee@hej' ceeveoC[ efveOee&efjle efkeS nQ. Yeejleere efj]peJe& yeQke eje peejer efoMee efveoxMeeW kes DevegHe veeceebkeve meefceefle ieef"le kejvee DeHesef#ele nw efpemeceW efveosMeke ceb[ue ceW mes kece mes kece leerve efveosMeke (meYeer mJelev$e / iewj keee&Heeueke efveosMeke) Meeefceue neW. Gkele efoMee-efveoxMeeW keer DevegHeeuevee ceW

161

keeheexjs efveeb$eCe efjhees&

efvecveevegmeej Ske 'veeceebkeve meefceefle' kee ie"ve efkeee ieee. 31.03.2009 keer efmLeefle kes DevegHe meefceefle keer mebjevee Fme Hekeej nw :

a Nomination Committee has been constituted as follows. The composition of the Committee as on 31.03.2009 is as under: Name 1. Shri Amarjit Chopra 2. Shri A. Somasundaram 3. Dr. Atul Agarwal Position Chairman Member Member

veece 1. eer Decejpeerle eesHe[e 2. eer S.meescemegvojce 3. [e@.Delegue DeeJeeue

Heo DeOe#e meome meome

Je<e& 2008-09 kes oewjeve meefceefle keer efoveebke 12.12.2008 kees Ske yew"ke ngF& efpemeceW meYeer meome GHeefmLele Les leLee efveosMekeeW kes efveJee&eve nsleg 23.12.2008 kees Deeeesefpele efveJee&eve ceW egveeJe ceW Yeeie uesves Jeeues meYeer eleeefMeeeW kes 'efHe SC[ ee@hej' nesvee megefveefele efkeee ieee
4.9

During the Financial Year 2008-09, the Committee met once on 12.12.2008, where in all the members were present and the Fit and Proper status of the candidates contesting the election of Directors held on 23.12.2008, was ascertained. Committee of Directors: A Committee of Directors consisting of Chairman and Managing Director and the nominee Directors of Government of India and Reserve Bank of India has been formed for dealing with the promotions at senior level. This Committee also deals with review of vigilance disciplinary cases and departmental enquiries. The composition of the Committee as on 31.03.2009 is as under: (i) (ii) (iii) Shri M.D. Mallya Shri Amitabh Verma Shri A. Somasundaram

4.9

efveosMekeeW keer meefceefle

DeOe#e SJeb eyebOe efveosMeke SJeb Yeejle mejkeej leLee Yeejleere efj]peJe& yeQke kes veeefceleer efveosMekeeW keer Ske meefceefle ieef"le keer ieF& nw pees Jeefj mlej keer HeoesVeefle mebyebOeer keee& kejleer nw. en meefceefle meleke&lee mebyebOeer DevegMeemeefveke ceeceueeW Deewj efJeYeeieere peebees keer meceer#ee kee keee& Yeer kejleer nw. 31.03.2009 leke meefceefle keer mebjevee Fme ekeej nw: (i) eer Sce.[er.ceuee
(ii) (iii)

eer DeefceleeYe Jecee& eer S.meescemegvojce

efJeeere Je<e& 2008-09 kes oewjeve meefceefle keer Heebe yew"keW ngF&.
4.10 ye[er jeefMe keer OeesKeeOe[er kes yeejs ceW meefceefle Yeejleere efj]peJe& yeQke ves DeHeves He$e mebKee DeejyeerDeeF&/2004.5. [eryeerSme SHepeerJeer(SHe) me./1004/23.04.01 S/2003-4 efoveebke 14 peveJejer, 2004 kes ceeOece mes OeesKeeOe[er kee Helee ueieeves, efveeeceke leLee eJele&ve SpeWefmeeeW kees Gmekeer metevee Deewj OeesKeeOe[er kes DeHejeOeer Hej ke=le kes Lee. Dele:, en megPeeJe efoee ieee efke yees[& keer Ske GHe meefceefle ieef"le keer mebyebOeer ceeceuees keer efveiejeveer leLee DevegJeleea keej&JeeF& kee keee& ner kejsieer. yees[& keer uesKee Hejer#ee meefceefle meeceevele: OeesKeeOe[er kes meYeer ceeceueeW keer efveiejeveer peejer jKesieer. Gmemes THej keer jeefMe keer OeesKeeOe[er keer efveiejeveer leLee meceer#ee Meeefceue nw leeefke(ke) OeesKeeOe[er kes DeeHejeefOeke ke=le ceW eCeeueeriele KeeefceeeW kee Helee ueieeves Deewj GveHej efveeb$eCe kejves kes efueS GHeee efkees pee mekeW (Ke) OeesKeeOe[er kes Helee ueieeves ceW efJeuecye kes keejCeeW keer Heneeve leLee yeQke leLee Yeejleere efjpeJe& yeQke kes Ge eyebOekeesb kees Gmekeer efjHeesefie (ie) meeryeerDeeF&/Hegefueme peeBe - He[leeue keer eieefle leLee Jemetueer keer efmLeefle (Ie) megefveefele kejvee efke OeesKeeOe[er kes meYeer ceeceueeW ceW meYeer mlejeW Hej meHe GejoeefelJe kee Hejer#eCe nes Deewj meHe Hej keej&JeeF&, eefo DeHesef#ele nes, DeefJeuebye nes (e) OeesKeeOe[er keer HegvejeJe=efe kes efveJeejCe kes efueS keer ieF& GHeeejelceke keej&JeeF& keer eYeeJeeslHeeokelee keer meceer#ee eLee Deebleefjke efveeb$eCe kees meMekele kejvee Deewj () OeesKeeOe[er kes efKeueeHe efveJeejke GHeeeeW kees meMekele kejves kes efueS eLeeJeMeke Deve GHeee kejvee.

The Committee met five times during the Financial Year 2008-09. 4.10 Committee on Large Value Frauds: Reserve Bank of India vide its letter No.RBI/2004.5.DBS. FGV(F)No.1004/23.04.01A/2003-4 dated 14th January, 2004 informed about the delay in various aspects of frauds like detection, reporting to regulatory and enforcement agencies and action against the perpetrators of the frauds. It was therefore, suggested to constitute a Subcommittee of the Board, which would be exclusively dedicated to monitor and follow up of fraud cases of Rs.1.00 crore and above. The Audit committee of the Board will continue to monitor all the cases of frauds in general. The major functions of the Committee, inter-alia, include monitoring and review of all the frauds of Rs.1.00 crore and above so as to: (a) identify the systemic lacunae if any that facilitated perpetration of the fraud and put in place measures to plug the same (b) identify the reasons for delay in detection, if any, reporting to top management of the Bank and RBI (c) monitor progress of CBI/Police investigation and recovery position (d) ensure that staff accountability is examined at all levels in all the cases of frauds and staff side action, if required, is completed quickly without loss of time (e) review the efficacy of the remedial action taken to prevent recurrence of frauds, such as strengthening of internal controls and (f) put in place other measures as may be considered relevant to strengthen preventive measures against frauds.

162

Corporate Governance

efveosMeke ceb[ue kes 5 meomeeW keer ieef"le efJeMes<e meefceefle ceW (ke) DeOe#e SJeb eyebOe efveosMeke (Ke) Smeeryeer kes oes meome (ie) Yeejleere efjpeJe& yeQke kes veeefceefle kees Meeefceue vener kejles ngS 2 Deve meome. 31.03.2009 kees meefceefle keer mebjevee efvecveevegmeej nw.
(i)

The Special Committee constituted with five members of the Board of Directors consists of: (a) Chairman & Managing Director (b) Two members from ACB and (c) Two other members from the Board excluding RBI Nominee. The composition of the Committee as on 31.03.2009 is as under: (i) (ii) (iii) (iv) (v) Shri M.D. Mallya Shri Amitabh Verma Dr. Atul Agarwal Dr. Deepak B. Phatak Shri Maulin A. Vaishnav

eer Sce.[er.ceuee
(ii)

eer DeefceleeYe Jecee&

(iii)

[e@.Delegue DeeJeeue
(iv)

[e@. oerheke yeer. Heeke

(v)

eer ceewefueve S. Jew<CeJe

efJeeere Je<e& 2008-09 kes oewjeve meefceefle keer 3 yew"keW Deeeesefpele keer ieF&.

The Committee met three times during the Financial Year 2008-09. 4.11 Committee for Selection of Consultants: This Committee was constituted by the Board at its meeting held on 30.09.2008 with five directors as its members for the one-time purpose of evaluation of proposals and recommending the selection of a Management Consultant for Business Process Reengineering and Organizational Restructuring. This is an adhoc Committee only for a specific purpose mentioned above. The composition of the Committee as on 31.03.2009 is as under: (i) (ii) (iii) (iv) (v) Shri M.D. Mallya Shri V. Santhanaraman Shri Rajiv Kumar Bakshi Shri Amarjit Chopra Dr. Deepak B. Phatak

4.11 HejeceMe&oeleeDeeW kes eeve nsleg meefceefle efveosMeke ceb[ue keer 30.09.2008 kees Deeeesefpele yew"ke ceW -5- efveosMekeeW keer Fme meefceefle kee ie"ve efkeee ieee efpemekee Ske yeejieer eeespeve emleeJeeW kee cetueebkeve Deewj JeJemeee eefeee Hegvemejevee Deewj mebie"veelceke Hegvemejevee kes efueS Ske eyebOeve HejeceMe&oelee keer mebmlegefle kejvee Lee. en cee$e Ske leoLe& meefceefle nw Deewj cee$e GHejeskele efJeefMe eeespeve kes efueS ner nw. 31.03.2009 kees meefceefle keer mebjevee efvecveevegmeej nw.
(i)

eer Sce.[er.ceuee
(ii)

eer Jeer.mevleevejeceve
(iii)

eer jepeerJe kegceej ye#eer

(iv)

eer Decejpeerle eeshe[e

(v)

[e@. oerheke yeer. Heeke

efJeeere Je<e& 2008-09 kes oewjeve meefceefle keer 3 yew"keW Deeeesefpele keer ieF&.
5.

The Committee met three times during the Financial Year 2008-09. Remuneration of Directors: The remuneration including traveling and halting expenses to Non-Executive Directors which are being paid as stipulated by the Central Government in consultation with Reserve Bank of India from time to time in terms of Section 17 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970 (as amended). The Chairman & Managing Director and Executive Directors (Three whole time directors) are being paid remuneration by way of salary as per rules framed by the Government of India. The details of remuneration and Performance Linked Incentives paid to Chairman

efveosMekeeW kee Heeefjeefceke : iewj keee&keejer efveosMekeeW keer ee$ee leLee "njves Hej nesves Jeeues Jee meefnle Heeefjeefceke kee Yegieleeve je<^ereke=le yeQke (HeyebOeve SJeb efJeefJeOe HeeJeOeeve)

mecee-mecee Hej kesv mejkeej eje Yeejleere efjpeJe& yeQke kes HejeceMe& mes

DeOe#e SJeb HeyebOe efveosMeke leLee keee&keejer efveosMeke kees (leerve hetCe& keeefueke

leLee keee&keejer efveosMekeeW kees Je<e& 2008-09 kes efueS Yegieleeve efkeS ieS

163

keeheexjs efveeb$eCe efjhees&

Heeefjeefceke keee& efve<heeove mebye eeslmeenve kee yeewje efvecveevegmeej nw:

ke) Jesleve :
Name

and Managing Director and Executive Director/s during the year 2008-09 is detailed below: A. Salary: ( jeefMe . ceW / Amount in Rupees) Designation

eceebke veece
Sr. No. 1 2 3 4

Heoveece

Jesleve/ Salary for

2008 - 09

DeOe#e SJeb HeyebOe efveosMeke (07.05.2008 mes) eer Jeer.mevleevejeceve keee&keejer efveosMeke eer meleerMe.meer.ieghlee keee&keejer efveosMeke (05.11.2008 leke) eer jepeerJe kegceej keee&keejer efveosMeke (06.11.2008 mes) ye#eer

Shri M.D.Mallya Shri V. Santhanaraman Shri Satish C. Gupta

eer Sce.[er.ceuee

Chairman and Managing Director (From 07.05.2008) Executive Director Executive Director (Up to 05.11.2008)

6,07,401 6,12,977 3,62,246 2,44,827

Shri Rajiv Kumar Bakshi Executive Director (From 06.11.2008)

Ke. Je<e& 2008-09 kes efueS efoes ieS keee&efve<Heeove mecye Heeslmeenve:
Name

B. Performance Linked Incentives paid during 2008-09: Designation

eceebke veece
Sr. No

Heoveece

efJelleere Je<e& 2007-08 nsleg keee&efve<heeove mebye eeslmeenve(Hees)

Performance Linked Incentives for the Financial Year 2007- 08 (Rs.)

1 2 3

[e@.Deefveue kes. Keb[uesJeeue eer Jeer.mevleevejeceve

Dr. Anil K. Khandelwal

DeOe#e SJeb HeyebOe efveosMeke keee&keejer efveosMeke

Shri V. Santhanaraman Shri Satish C. Gupta*

Chairman and Managing Director Executive Director Executive Director

8,00,000 6,50,000 5,34,247

eer meleerMe meer. iegHlee* keee&keejer efveosMeke

* Heeslmeenve jeefMe kee Yegieleeve yeQke ceW Gvekes keee&keeue keer DeJeefOe kes DevegHeele ceW efkeee ieee. Je<e& 2008-09 kes oewjeve iewj-keee&keejer efveosMekeeW kees efoee ieee yew"ke menYeeefielee Meguke efJeJejCe efvecveefueefKele Devegmeej nw (HetCe&keeefueke efveosMekeeW leLee Yeejle mejkeej eje veeefcele efveosMeke kees efkemeer Hekeej kee yew"ke menYeeefielee Meguke ose veneR nw):

* Incentive payments made in proportion to his respective tenure in the Bank. The Sitting Fee paid to the Non-Executive Directors during the Year 2008-09 is as under: (No sitting fee is payable to whole time directors and director representing Govt. of India ) :

Name of the Director

eceebke
Sr. No. 1

efveosMeke kee veece

Shri A. Somasundaram

Yegieleeve keer ieF& jeefMe (.)

Amount Paid in Rs. 1,70,000 1,05,000 1,12,500 1,70,000 1,05,000 52,500 1,00,000 57,500 85,000 70,000

eer S.meescemegvojce
2 Shri Milind N. Nadkarni

eer efceefuevo Sve.vee[keCeea

3 Shri Ranjit Kumar Chatterjee

eer jCepeerle kegceej epeea

4 Shri Amarjit Chopra

eer Decejpeerle eesHe[e

5 Dr. Atul Agarwal

[e@. Delegue DeeJeeue

6 Smt. Masarrat Shahid (Up to 14.09.2008)

eerceleer cemej&le Meeefno (14.09.2008 leke)

7 Shri Maulin A. Vaishnav

eer ceewefueve S. Jew<CeJe

8 Dr. Dharmendra Bhandari

[e@. Oecexv YeC[ejer

9 Dr. Deepak B. Phatak

[e@. oerHeke yeer. Heeke

10 Shri Manesh P. Mehta (Up to 15.11.2008)

eer ceves<e Heer. cesnlee (15.11.2008 leke)

164

Corporate Governance

6.

meeceeve meYee keer yew"keW : meeceeve meYee keer iele leerve Je<eeX kes oewjeve Deeeesefpele yew"keeW kee efJeJejCe efvecveevegmeej nw :
efoveebke SJeb mecee mLeeve
Venue

6.

General Body Meetings: The details of General Body Meetings held during the last three years are given below:

eeespeve
Purpose

Nature of Meeting

Date & Time

omeJeerb Jeeef<e&ke meeceeve yew"ke

10th Annual General Meeting

07 pegueeF&, 2006 kees eele: 10.00 yepes

07th July, 2006 at 10.00 a.m.

ees. meer.meer. cesnlee Dee@[eresefjece, pevejue SpetkesMeve mesvj, Sce.Sme. etefveJeefme&er kewcheme, eleeheiebpe, Je[esoje 390 002.
Prof. C.C. Mehta Auditorium, General Education Centre, M.S. University of Baroda, Vadodara 390 002

legueve-He$e, ueeYe SJeb neefve Keelee efveosMeke ceb[ue keer efjHees& SJeb uesKee-Hejer#ekeesb keer efjHees& hej efJeeej-efJeceMe& kejvee leLee Je[esoje me@ke SkemeeWpe mes meeceeve MesejeW kes mJewefke De-meteerkejCe hej efJeeej kejves nsleg.
To discuss the Balance Sheet, Profit & Loss Account, the Report of Board of Directors and the Auditors Report and to consider voluntary de-listing of equity shares from Vadodara Stock Exchange.

ieejnJeerb Jeeef<e&ke meeceeve yew"ke

11th Annual General Meeting

04 pegueeF&, 2007 kees eele: 10.00 yepes

04th July, 2007 at 10.00 a.m.

ees. meer.meer. cesnlee Dee@[eresefjece, pevejue SpetkesMeve mesvj, Sce.Sme. etefveJeefme&er kewcheme, eleeheiebpe, Je[esoje 390 002.
Prof. C.C. Mehta Auditorium, General Education Centre, M.S. University of Baroda Vadodara 390 002

yeQke kes 31 ceee&, 2007 kees meceeHle DeJeefOe kes legueveHe$e, 31 ceee&, 2007 kees meceeHle Je<e& kes ueeYe SJeb neefve Keeles, yeQke keeeexb SJeb ieefleefJeefOeeeW Hej efveosMeke ceb[ue keer efjHees& leLee legueveHe$e Hej uesKee Hejer#ekeeW keer efjHees& Hej eee& SJeb Fmekee Devegceesove leLee Je<e& 2006-07 kes efueS Debeflece ueeYeebMe Ieesef<ele kejvee.
To discuss, approve and adopt the Balance Sheet of the Bank as on 31st March 2007, Profit & Loss Account for the year ended 31st March 2007, the Report of Board of Directors on the working and activities of the Bank and the Auditors Report on the Balance Sheet and Accounts and to declare Final Dividend for the year 2006-07.

yeejnJeeR Jeeef<e&ke meeceeve yew"ke

12th Annual General Meeting

28 pegueeF&, 2008 kees eele: 10.30 yepes

28th July, 2008 at 10.30 a.m.

ees. meer.meer. cesnlee Dee@[eresefjece, pevejue SpetkesMeve mesvj, Sce.Sme. etefveJeefme&er kewcheme, eleeheiebpe, Je[esoje 390 002.
Prof. C.C. Mehta Auditorium, General Education Centre, M.S. University of Baroda Vadodara 390 002

yeQke kes 31 ceee&, 2008 kees meceeHle DeJeefOe kes legueveHe$e, 31 ceee&, 2008 kees meceeHle Je<e& kes ueeYe SJeb neefve Keeles, yeQke keeeexb SJeb ieefleefJeefOeeeW Hej efveosMeke ceb[ue keer efjHees& leLee legueveHe$e Hej uesKee Hejer#ekeeW keer efjHees& Hej eee& SJeb Fmekee Devegceesove leLee Je<e& 2007-08 kes efueS Debeflece ueeYeebMe Ieesef<ele kejvee.
To discuss, approve and adopt the Balance Sheet of the Bank as on 31st March 2008, Profit & Loss Account for the year ended 31st March 2008, the Report of Board of Directors on the working and activities of the Bank and the Auditors Report on the Balance Sheet and Accounts and to declare Dividend for the year 2007-08.

DemeeOeejCe meeceeve yew"ke

Extra Ordinary General Meeting

ees. meer.meer. cesnlee Dee@[eresefjece, pevejue SpetkesMeve mesvj, 23rd December, Sce.Sme. etefveJeefme&er kewcheme, eleeheiebpe, Je[esoje 390 002. 2008

23 efomebyej, 2008 kees eele: 10.00 yepes

yeQkekeejer kecheveer (GheeceeWkee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3) (DeeF&) SJeb yeQke Dee]@He ye[ewoe meeceeve efJeefveece, 1998 kes DevegHeeueve ceW keW mejkeej mes efYeVe MesejOeejkeesb ceW mes -3- efveosMekeeW kee efveJee&eve.
Election of three Directors from amongst Shareholders other than Central Government in pursuance of Section 9(3)(i) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and Bank of Baroda General Regulations 1998.

at 10.00 a.m.

Prof. C.C. Mehta Auditorium, General Education Centre, M.S. University of Baroda, Vadodara 390 002

165

keeheexjs efveeb$eCe efjhees&

7.

HekeerkejCe :
(ke) yeQke kee Ssmee keesF& efJeMes<e mebyebefOele Heeea uesve-osve veneR nw efpevekes keejCe yeQke kes JeeHeke efnleeW mes kejeJe keer mebYeeJevee yeveleer nes. (Ke) mejkeejer keejesyeej, efJeefvecee, oueeueer, efJeosMeer efyeue Kejeroer Hej yee mes efYevve Heerme, keceerMeve mes Deee Deewj Deefleose efyeueeW/Deefiece efyeueeW Hej yeepe leLee Deveg<ebefieeeW, mebegkele GeceeW SJeb SmeesefmeS kes MesejeW Hej ueeYeebMe keer ieCevee GHeefele DeeOeej kes mLeeve Hej JeemleefJeke HeeefHle kes DeeOeej Hej keer ieF& nw. (ie) yeQke Hej efHeues leerve Je<eeX kes oewjeve Hetbpeer yeepeej mes mecye efkemeer Yeer ceeceues ceW efkemeer Yeer efJeefveeeceke HeeefOekeejer DeLee&led me@ke SkemeeWpe Deewj/DeLeJee mesyeer eje efkemeer efveece, efveoxMeeW SJeb efoMeeefveoxMeeW kee DevegHeeueve ve kejves kes efueS ve lees keesF& ob[ ueieeee ieee nw Deewj ve ner efkemeer Hekeej keer Yelme&vee keer ieF& nw. (Ie) yeQke keer 'efJemeue yueesDej Hee@efuemeer' Heefjeeefuele nw.

7.

Disclosures: a) There is no materially significant Related Party Transaction that may have potential conflict with the interests of the Bank at large. Income from Fees, Commission other than on Government Business, Exchanges, Brokerage, Discount on Foreign Bills Purchased and Interest on overdue Bills/Advance Bills and Dividend on Shares of Subsidiaries, Joint Ventures and Associates have been accounted for on the basis of actual realization instead of accrual. No penalties and strictures have been imposed on the Bank by the Stock Exchange and /or SEBI for non-compliance of any law, guidelines and directives, on any matters related to capital markets, during the last three years. A Whistle Blower Policy of the Bank is in operation. Directors have disclosed that they have no relationship between directors inter se as on 31.03.2009

b)

c)

d) e)

(*) efveosMekeeW ves eke efkeee nw efke 31.03.2009 leke efveosMekeeW kes yeere efkemeer ekeej kee HeejmHeefjke mebyebOe vener nw.

8.

DeefveJeee& Deewj iewj-DeefveJeee& DeeJeMekeleeSb :

yeQke ves me@ke SkemeeWpeeW, peneb yeQke kes Mesej meteerye nQ, kes meeLe eqkeS ieS meteereve kejej kes Keb[ 49 ceW eLee GHeyebefOele meYeer ueeiet DeefveJeee& DeeJeMekeleeDeeW kee DevegHeeueve efkeee nw. iewj-DeefveJeee& DeeJeMekeleeDeeW kes keeee&vJeeve keer ceewpetoe efmLeefle efvecveevegmeej nw : ece meb. iewj-DeefveJeee& DeeJeMekeleeSb
Non-mandatory requirements

8.

Mandatory and Non-Mandatory Requirements: The Bank has complied with all the applicable mandatory requirements as provided in Clause 49 of the Listing Agreement entered into with the Stock Exchanges where Banks shares are listed. The extent of implementation of non-mandatory requirements is as under:

keeee&vJeeve keer efmLeefle

Status of Implementation

Sr. No.

DeOe#e kes keeee&uee kee jKe-jKeeJe, iewj keee&Heeueke DeOe#e, kebHeveer kes Kee& Hej kejWies.
Non-executive Chairman to maintain Chairmans Office at companys expense.

ueeiet veneR, keeeWefke DeOe#e kee Heo keee&Heeueke kee Heo nw.
Not Applicable, since the Chairmans position is Executive.

efveosMeke ceb[ue Ske Heeefjeefceke meefceefle ieef"le kejsiee pees keee&keejer efveosMekeeW kes efueS efJeefMe< Heeefjeefceke Hewkespe mebyebOeer kebHeveer keer Heeefjeefceke veerefle leweej kejsieer.
Board to set-up a Remuneration Committee to formulate companys remuneration policy on specific remuneration package for Executive Directors.

ueeiet veneR, keee&Heeueke efveosMeke, Yeejle mejkeej eje efveele Jesleve HeeHle kejles nQ. leLeeefHe, keW mejkeej eje peejer efoMeeefveos&MeeW kes Devegmeej keee&efve<Heeove mebye eeslmeenve Hej efJeeej kejves kes efueS Ske Heeefjeefceke meefceefle Heefjeeueve ceW nw.
Not applicable, as Executive Directors draw salary as fixed by the Government of India. However a Remuneration Committee is in operation to consider Performance Linked Incentive in terms of guidelines issued by the Central Government.

iele 6 ceen kes oewjeve cenlJeHetCe& IeveeDeeW kes meejebMe meefnle efJeeere keee&efve<Heeove keer ceener Iees<eCee MesejOeejkeeW kees Yespevee.
Half-yearly declaration of financial performance including summary of significant events in last six months to be sent to shareholders.

30.09.2008 kees meceeHle ceener kes efueS yeQke ves iele 6 ceen kes oewjeve cenlJeHetCe& IeveeDeeW kes meejebMe meefnle efJeeere keee&-efve<Heeove kee ceener HeefjCeece Heleske MesejOeejke kees Yespe efoee nw. Fmekes Deefleefjkele yeQke kes efJeeere HeefjCeece yeQke keer JesyemeeF Hej [eues peeles nQ.
The Bank has sent half-yearly financial results for the half year ended 30.09.2008 including summary of significant developments during last six months to each shareholder. Besides the financial results are posted on Banks website.

166

Corporate Governance

ece meb.
Sr. No.

iewj-DeefveJeee& DeeJeMekeleeSb
Non-mandatory requirements

keeee&vJeeve keer efmLeefle

Status of Implementation

kebHeveer kees DevekeJeeefueHeeF[ efJeeere efJeJejefCeeeW keer JeJemLee keer Deesj peevee eeefnS.
Company may move towards regime of unqualified financial statements.

yeQke ves DevekeJeeefueHeeF[ efJeeere efJeJejefCeeeW keer Deesj Deiemej nesves kes efueS keF& keoce G"ees nw.
The Bank has initiated steps for moving towards achieving unqualified financial statements.

kebHeveer efveosMeke ceb[ue kes meomeeW kees efveosMeke kes He ceW efpeccesoejer Jenve Deewj Gvekee meJeexece {bie mes efveJe&nve kejves kes efueS kebHeveer kes JeeJemeeefeke cee@[ue ceW HeefMeef#ele kejves kes meeLe-meeLe kebHeveer kes JeeJemeeefeke ceeveob[eW keer peesefKece HeesHeeFue kes yeejs ceW HeefMeef#ele kejs.
Company may train Board Members in the Business Model of the Company as well as risk profile of the business parameters of the company, the responsibilities as Director and the best way to discharge them.

efveosMeke ceb[ue eje DeheveeS ieS JeeJemeeefeke cee@[ue Deewj peesefKece HeesHeeFue kes meeLe-meeLe Deeeej mebefnlee keer mebhetCe& peevekeejer yees[& kes eleske meome kees mebHesef<ele keer ieF& nw. yeQke S[Jeebmed[ HeeFveWefMeeue ueefveie nsleg efveosMekeeW kees Yeejleere efjpeJe& yeQke cegbyeF& kesv Hej HeefMe#eCe nsleg veeefcele kejlee nw.
A complete overview of the Business Model and risk profile along with Code of Conduct adopted by the Board of Directors has been communicated to each member of the Board. The Bank nominates Directors for training at Centre for Advanced Financial Learning of RBI, Mumbai.

efveosMeke ceb[ue kes Deve meomeeW eje iewj- keee&Heeueke efveosMekeeW kes keee&-efve<Heeove kee cetueebkeve Deewj iewj-keee&Heeueke efveosMekeeW kes efveosMeke Heo Hej yeves jnves ee DeveLee efveCe&e uesvee.
The evaluation of performance of non-executive Directors by other members of the Board and to decide to continue or otherwise of the Directorship of the nonexecutive Directors.

Yeejleere efj]peJe& yeQke kes efoMee-efveoxMeeW kes DevegHe Ske veeceebkeve meefceefle kee ie"ve efkeee ieee nw leLee eeefvele/veeefcele efveosMekeeW Hej yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DevlejCe) DeefOeefveece 1970 keer Oeeje 9(3)(DeeF&) kes DeOeerve efHe SC[ ee@hej efoMee-efveoxMe ueeiet nesles nw
A Nomination Committee has been constituted in terms of Reserve Bank of India Guidelines and the elected directors under clause 9(3)(i) of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 are subject to determination of fit & proper status.

kebHeveer Devewefleke JeJenej, JeemleefJeke DeLeJee mebosnemHeo OeesKee-Oe[er Deeefo kes yeejs ceW HeyebOeve efebleeDeeW kes yeejs cessb efjHees& kejves kes efueS hetJe& mebkesle osves Jeeueer veerefle yeveeS
The Company to establish the Whistle Blower Policy for reporting management concerns about unethical behaviors, actual or suspected fraud, etc.

yeQke keer 'efJemeue yueesDej Hee@efuemeer' Heefjeeueve ceW nw.

A Whistle blower policy of the Bank is in operation.

9.

mebHes<eCe kes meeOeve :

yeQke, efJekeefmele metevee Heeweesefiekeer SJeb mebeej kes meeOeveeW kes ceeOece mes DeHeves meomeeW Deewj efnleOeejkeeW kees Gvekes efnleeW mes mebye peevekeeefjeeW kes yeejs ceW metefele kejves keer DeeJeMekelee mecePelee nw. yeQke kes efJeeere HeefjCeeceeW kees, efveosMeke ceb[ue keer yew"ke ceW Gvekes Devegceesove kes Heeele yew"ke keer meceeeqHle Hej lelkeeue Gve me@ke SkemeeWpees kees emlegle efkeee peelee nw peneb Hej yeQke keer eefleYetefleeeb meteerye nQ. es HeefjCeece oes ee DeefOeke meceeeej He$eeW ceW Yeer HekeeefMele kejJeeS peeles nQ efpeveceW mes Ske Ssmee meceeeej He$e neslee nw efpemekee Hemeej Hetjs Yeejle ceW nes Deewj otmeje meceeeej He$e Ssmee neslee nw efpemekee Hemeej iegpejele jepe ceW nes, peneb yeQke kee eOeeve keeee&uee efmLele nw. yeQke ceener DeeOeej Hej DeHeves MesejOeejkeeW kees HeefjCeeceeW keer Heefle Hesef<ele kejlee nw. yeQke DeHeves efJeeere HeefjCeeceeW leLee YeeJeer eespeveeDeeW keer Iees<eCee kejves kes efueS Svesefuem yew"keW, esme keebesme Fleeefo Yeer Deeeesefpele kejlee nw.

9.

Means of Communication: The Bank recognizes the need for keeping its members and stakeholders informed of the events of their interests through present advanced information technology and means of communication. The financial results of the Bank are submitted to the stock exchanges, where the securities of the Bank are listed, immediately after the conclusion of the Board Meeting approving the same. The results are also published in two or more newspapers, one circulating in the whole or substantially the whole of India and the other circulating in the state of Gujarat where the Head Office of the Bank is situated. The Bank furnishes results to the Shareholders on Half Yearly basis. The Bank also organizes analysts-meets, press conferences, etc. for announcing Banks financial results and its future plans.

167

keeheexjs efveeb$eCe efjhees&

The quarterly / half-yearly / annual results as well as

yeQke kes efleceener / ceener / Jeeef<e&ke HeefjCeeceeW kes meeLe-meeLe yeQke keer Hesme efJe%eefHleeeb yeQke keer JesyemeeF http://www.bankofbaroda.com Hej GHeueyOe jnleer nQ.

the press release of the Bank are posted on the Banks Website http://www.bankofbaroda.com 10. Shareholders Information: The Banks shares are listed on the following major Stock Exchanges in India:
1) Bombay Stock Exchange Ltd., Phiroze Jeejeebhoy Towers 25th Floor, Dalal Street Fort, Mumbai 400 001 BSE CODE : 532134 National Stock Exchange of India Ltd. Bandra Kurla Complex, Bandra,(East), Mumbai 400 051 NSE CODE : BANKBARODA

10. MesejOeejkeeW mes mebye metevee :

yeQke kes Mesej efvecveefueefKele me@ke SkemeeWpeeW ceW meteerye nQ : 1) o yee@cyes me@ke SkemeeWpe efueefces[ efHejespe peerpeerYeeF& eJeme& 25 Jeeb leue, oueeue m^er Hees&, cebgyeF& 400 001 yeerSmeF& kees[ : 532134 2) vesMeveue me@ke SkemeeWpe Dee@He Fbef[ee efue. yeebe keguee& kee@cHueskeme] yeebe (HetJe&)] cebgyeF& 400 051] SveSmeF& kees[ : BANKBARODA SkemeeWpees ceW meteerye meYeer eefleYetefleeeW kes mecyebOe ceW Deye leke kes Jeeef<e&ke meteereve Meguke kee Yegieleeve kej efoee ieee nw.

2)

The annual listing fees in respect of all the securities listed with the exchange(s) have been paid till date. 10.1 : Dematerialization of Securities:

10.1 HeefleYetefleeeW kee De-YeeweflekeerkejCe : yeQke kes Mesej mesyeer keer DeefveJeee& DeYeewefleke meteer kes Debleie&le Deeles nQ Deewj yeQke ves DeHeves MesejeW kes DeYeeweflekeerkejCe kes efueS vesMeveue efmekeeesefjer ef[Heesefpejer efue. (SveSme[erSue) leLee meW^ue ef[Hee@efpejer meefJe&mespe (Fbef[ee) efue. (meer[erSmeSue) kes meeLe kejej efkeee nw. MesejOeejke SveSme[erSue DeLeJee meer[erSmeSue kes Heeme DeHeves Mesej DeYeeweflekeerke=le kejJee mekeles nQ. 31 ceee& 2009 kees yeQke kes Heeme 36,42,66,500 FefkeJeer Mesej Les efpeveceW

The shares of the Bank are under compulsory demat list of SEBI and the Bank has entered in to Agreements with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) for dematerialization of Banks shares. Shareholders can get their shares dematerialized with either NSDL or CDSL. As on March 31, 2009 the Bank has 36,42,66,500 No. of Equity Shares of which -35,43,52,275 Shares are held in dematerialized form, as per the detail given below.

efvecveevegmeej nw.
Nature of Holding

MesejeW keer mebKee / Number of shares

99,14,225 35,43,52,275 36,42,66,500

HeefleMele / Percentage
2.72 97.28 100.00

Yeewefleke De-Yeewefleke kegue

Physical Dematerialized Total

yeQke eje Je<e& 2003 ceW 27,38,300 FefkeJeer Mesej peyle efkeS ieS efpeveceW mes 31.03.2009 leke 4,800 FeqkeJeer Mesej (Sveuue[) DeefYeMetve efkeS ieS. 10.2 Fueske^e@efveke meceeMeesOeve mesJeeSb (F&meerSme) : Fueske^e@efveke meceeMeesOeve mesJeeSb (F&meerSme) Yegieleeve kee Ske DeeOegefveke lejerkee nw efpemeceW ueeYeebMe / yeepe Fleeefo keer jeefMeeeb mebyebefOele efveJesMekeeW kes yeQke Keeles ceW meerOes ner pecee kej oer peeleer nQ. yeQke ves DeHeves MesejOeejkeeW kees Yeejleere efjpeJe& yeQke keer vesMeveue F&meerSme / F&meerSme megefJeOee kes lenle keJej meYeer keWeW Hej GHeueyOe Fme megefJeOee kee Fmlesceeue kejves kes efJekeuHe kes meeLe mesJeeSb HesMe keer nw. FmeerSme ceW[s eHe$e Jeeef<e&ke efjHees& kes meeLe mebueive nw.

The Bank had forfeited -27,38,300- equity shares in the year 2003 and out of the same 4800 equity shares were annulled up to 31st March 2009. 10.2 : Electronic Clearing Services (ECS) : Electronic Clearing Services (ECS) is a modern method of payment of where the amounts of dividend/interest etc., are directly credited to the bank accounts of the Investors concerned. The Bank has offered the services to the shareholders with an option to avail the facility at all the centers covered by Reserve Bank of India under its National ECS/ ECS facility. The ECS mandate form is appended with the Annual Report.

168

Corporate Governance

10.3 Fueske^e@efveke Mesej DeblejCe HeCeeueer leLee efveJesMekeeW keer efMekeeeleeW kee efveJeejCe: yeQke megefveefele kejlee nw efke MesejeW kee DevlejCe mecyebOeer mecemle keee&, nes peeS. yees[& ves MesejeW Deewj yeeb[eW kes DeblejCe leLee Deve mebye ceeceueeW Hej efJeeej kejves kes efueS MesejOeejke / efveJesMeke efMekeeele meefceefle Deewj Mesej DeblejCe meefceefle ieef"le keer nw. es meefceefleeeb efveeefcele Deblejeue Hej yew"ke Deeeesefpele kejleer nQ Deewj efveJesMeke-efMekeeeleeW keer efmLeefle keer meceer#ee kejleer nQ. yeQke ves cew. keeJeea kebHetjMesej Hee. efue. kees DeHeves jefpem^ej Deewj DeblejCe ueeYeebMe/yeepe Yegieleeve kees Hee@mesme kejvee, MesejOeejkeeW kes DevegjesOe DeefYeuesefKele kejvee, efveJesMekeeW keer efMekeeeleeW kee meceeOeeve leLee Mesej/yeeb[ peejer kejves mebyebOeer Deve ieefleefJeefOeeeb megefveefele kejvee nw. efveJesMeke DeHeves DeblejCe efJeuesKe/DevegjesOe/efMekeeeleW efvecve Heles Hej jefpem^ej kees efYepeJee mekeles nQ : cew. keeJeea kebHetjMesej Hee.efue. (FkeeF& : yeQke Dee@He ye[ewoe) Huee@ meb. 17 mes 24, Fcespe DemHeleeue kes Heeme efJeuejeJe veiej, ceeOeeHegj nwojeyeeo - 500 081 Heesve : (040) 23420815 mes 820 leke, Hewkeme : (040) 23420814 F&-cesue : mailmanager@karvy.com yeQke ves efveJesMeke mesJee ke#e keer mLeeHevee keeHeexjs keeee&uee, cebgyeF& ceW Yeer keer nw, efpemekes eYeejer kecheveer meefeJe nQ. peneb MesejOeejke DeHeves DevegjesOeeW / efMekeeeleeW kees meceeOeeve nsleg efvecveefueefKele Heles Hej Yespe mekeles nQ. Jes Deheveer efMekeeeleW / DevegjesOe eOeeve keeee&uee, Je[esoje kees efvecveefueefKele heles hej Yeer Yespe mekeles nQ:
yeQke Dee@He ye[ewoe efveJesMeke mesJee efJeYeeie HeLece leue, ye[ewoe keeHeexjs meWj meer - 26, peer - yuee@ke, yeebe-keguee& kee@cHueskeme yeebe (HetJe&), cebgyeF& - 400 051 sueerHeesve : (022) 66985000, 6698 5846 Hewkeme : (022) 2652 6660 F& - cesue: investorservices@bankofbaroda.com (Ge F&-cesue DeeF&[er efJeMes<ehe mes me@ke SkemeeWpe kes meeLe meteerye nesves kes kejej kes KeC[ 47(SHe) kes DevegmejCe efveJesMekeeW keer efMekeeeleeW nsleg yeveeee ieee nw) yeQke Dee@He ye[ewoe cegKe HeyebOeke eenke mesJee Dee"Jeeb leue, metjpe Hueepee -I, meeepeeriebpe, Je[esoje 390 005. sueerHeesve : 0265 - 2361724 Hewkeme veb. : 0265 - 2361824 F& - cesue : customerservice@
bankofbaroda.com

10.3: Electronic Share Transfer System & Redressal of Investors Grievances The Bank ensures that all transfers of Shares are duly effected within a period of one month from the date of their lodgment. The Board has constituted Sharholders/ Investors Grievances Committee and Shares Transfer Committee to consider transfer of Shares and Bonds and other related matters. The Committees meet at regular intervals and review the status of Investors Grievances. The Bank has appointed M/s. Karvy Computershare Private Limited as its Registrars & Transfer Agent with a mandate to process transfer of Shares / Bonds, dividend / interest payments, recording of Shareholders requests, solution of investors grievances amongst other activities connected with the issue of Shares / Bonds. The Investors may lodge their transfer deeds / requests / complaints with the Registrars at following address: M/S Karvy Computershare Private Limited (Unit : Bank of Baroda) Plot No.17 to 24, Near Image Hospital Vittalrao Nagar, Madhapur Hyderabad - 500 081 Phone : (040) 23420815 to 820, Fax : (040) 23420814 E Mail : mailmanager@karvy.com The Bank has also established Investors Services Department, headed by the Company Secretary at Corporate Office, Mumbai wherein shareholders can mail their requests / complaints for resolution at the address given below. They can also send their complaints/requests at the address given below at Head Office, Vadodara :
Bank of Baroda Investors Services Department 1st Floor, Baroda Corporate Centre C-26, G-Block, Bandra-Kurla Complex Bandra (East), Mumbai 400 051 Telephone : (022) 66985000, 6698 5846 Fax : (022) 2652 6660 E mail : investorservices@ bankofbaroda.com (The aforesaid e-mail ID is exclusive designated for investors' complaints pursuant to Clause 47(F) of the listing agreement with Stock Exchanges) Bank of Baroda Chief Manager, Customer Service, 8th Floor, Suraj Plaza I, Sayajiganj, Vadodara 390 005 Telephone : 0265 2361724 Fax No. : 0265 2361824 E mail : customerservice@ bankofbaroda.com

10.4 keeHeexjs efveeb$eCe jsefbie : en yeQke meeJe&peefveke #es$e kee henuee yeQke nw efpemes pegueeF&, 2004 ceW jsefbie Spesvmeer, DeeF&meerDeejS efue. eje meerpeerDeej -2 keeHeexjs ieJevexvme jsefbie Heoeve keer ieF& nw, pees meerpeerDeej -1 mes meerpeerDeej -6 kes jsefbie Hewceeves ceW keeHeexjs ieJevexvme kes Ge mlej kees oMee&lee nw. Fmeer ece ceW DeeF&meerDeejS efue. ves DeHeves efoveebke 17.08.2007 kes He$e leLee esme efJe%eefhle efoveebke 14 efmelecyej 2007 kes eje meerpeerDeej -2 keer Gkele jsefbie keer Hegve: Hegef< keer nw.

10.4 : Corporate Governance Rating: The Bank is the first Public Sector Bank to have been assigned in July 2004 a Corporate Governance Rating of CGR-2 by ICRA Limited indicating High Level of Corporate Governance in a rating scale of CGR-1 to CGR-6. Further the ICRA Limited vide their letter dated 17.08.2007 and Press Release Dated September 14, 2007 have reaffirmed the said rating of CGR-2, which is in force as on the date.

169

keeheexjs efveeb$eCe efjhees&

11.

efJeeere kewuesv[j efJeeere Je<e& 1 Deewue 2008 mes 31 ceee& 2009

11.

Financial Calendar

Financial Year 1st April 2008 to 31st March 2009

KeeleeW (Skeue) SJeb ueeYeebMe mebyebOeer efmeHeeefjMeeW Hej efJeeej-efJeceMe& kejves nsleg efveosMeke ceb[ue keer yew"ke

27 Deewue 2009 (meesceJeej)

KeeleeW (mecesefkele) Hej efJeeej-efJeceMe&] kejves nsleg efveosMeke ceb[ue keer yew"ke Yeejleere efjpeJe& yeQke kees KeeleeW keer uesKee Hejeref#ele efJeJejCeer keer Hemleggefle 13JeeR Jeeef<e&ke meeceeve yew"ke keer leejerKe, mecee SJeb mLeeve

26 ceF&, 2009 (cebieueJeej) 28 ceF&, 2009

Board Meeting for considering of Accounts (Solo) and recommendation of dividend. Board Meeting for considering of Accounts (Consolidated). Submission of audited statement of accounts to RBI. Date, Time & Venue of the 13th AGM

27th April 2009 (Monday)

26th May 2009 (Tuesday)

28th May 2009 (Thursday) Thursday, 02nd July 2009 at 10.30. a.m. Prof. C.C. Mehta General Education Auditorium, D.N.Hall Ground, M.S.University, Pratapganj, Vadodara 390 002 4th and 5th June 2009 20th June 2009 (Saturday) to 02nd July 2009 (Thursday) 27th June 2009 upto 2 pm (Saturday) Before 13th July 2009

Heele: 10:30 yepes Hees. meer.meer. cesnlee pevejue SpetkesMeve Dee@[eresefjece, [erSve ne@ue ieeGC[, Sce Sme etveerJeefme&er, HeleeHeiebpe, Je[esoje - 390 002

Jeeef<e&ke efjHees& kee Hes<eCe yeefneeb yebo kejves keer leejerKe

4 leLee 5 petve 2009 20 petve, 2009 (MeefveJeej) mes 2 pegueeF&, 2009 (iegJeej)

Posting of Annual Report Book Closure dates

Hee@kemeer Heece& HeeHle kejves keer Debeflece leejerKe ueeYeebMe kes efueS Jeejb Hesef<ele kejves keer mebYeeefJele leejerKe ueeYeebMe Yegieleeve keer leejerKe

27 petve, 2009 oesHenj 2.00 yepes leke Last Date for receipt of Proxy Forms (MeefveJeej) Probable date of 13 pegueeF&, 2009 mes Henues dispatch of warrants for Dividend Payment date - Dividend 13 pegueeF&, 2009

13th July 2009

Iees<eCee-He$e
me@ke SkemeeWpe kes meeLe meteerye kejves mebyebOeer kejej keer Oeeje 49(I) ([er) kes Devegmeej DeOe#e SJeb HeyebOe efveosMeke keer Deesj mes Iees<eCee Ieesef<ele efkeee peelee nw efke yeQke kes efveosMeke ceb[ue kes meome leLee Jeefj<" HeyebOeve keeefce&keeW ves me@ke SkemeeWpe kes meeLe meteerye kejves mebyebOeer kejej kes Keb[ 49 (I) ([er) ceW efJeefveefo&< Deeeej mebefnlee kes Hemebie ceW yeQke eje 31 ceee&, 2009 kees meceeHle efJeeere Je<e& kes efueS leovegmeej DevegHeeuevee keer Hegef< kej oer nQ. Gkele Deeeej mebefnlee kees yeQke keer JesyemeeF Hej Yeer oMee&ee ieee nw. ke=les yeQke Dee@He ye[ewoe

DECLARATION
Declaration of the Chairman and Managing Director pursuant to clause 49 (I) (D) of Listing Agreement with Stock Exchanges.
It is to declare that all the Board Members and Senior Management Personnel of the Bank have affirmed their compliance with the Code of Conduct for the Financial Year Ended on 31st March 2009 in accordance with clause 49 (I) (D) of the Listing Agreement entered into with the Stock Exchanges. The said Code of conduct has been posted on the Banks website. For Bank of Baroda

(Sce. [er. ceuee) DeOe#e SJeb HeyebOe efveosMeke mLeeve : cegbyeF& efoveebke : 26 ceF&, 2009
Place : Mumbai Date : 26th May 2009

(M.D.Mallya) Chairman and Managing Director

170

Corporate Governance

12.

31 ceee& 2009 kees MesejOeeefjlee Hewve&

Category

12.

Shareholding Pattern as on 31st March 2009

eceebke
S.No 1

efJeJejCe
GOVERNMENT OF INDIA

OeejkeeW keer mebKee

No. of Holders 1 132 128 18 178501 1637 3160 4048 148 28 1586 4 23 1 189415

f kegue Mesej FefkeJeer kee HeeleMele

Total Shares 196000000 49302690 44755788 34900318 23169522 11246747 2253893 833676 579908 913489 263054 26200 21099 116 364266500 % To Equity 53.81% 13.53% 12.29% 9.58% 6.36% 3.09% 0.61% 0.23% 0.16% 0.25% 0.07% 0.01% 0.01% 0.00% 100.00%

Yeejle mejkeej
2

efJeosMeer mebmLeeiele efveJesMeke

3

FOREIGN INSTITUTIONAL INVESTORS MUTUAL FUNDS

cegegDeue Heb[
4 INSURANCE COMPANIES

yeercee kebheefveeeb
5 RESIDENT INDIVIDUALS

efveJeemeer Jeweeqkeleke
6 BODIES CORPORATES

yee@[er kee@Heexjs
7 NON RESIDENT INDIANS

De-efveJeemeer Yeejleere
8 EMPLOYEES

kece&eejer
9 CLEARING MEMBERS

meceeMeesOeve meome
10

efJeeere mebmLeeSb / yeQke

11

FINANCIAL INSTITUTIONS/ BANKS HUF

efnvog DeefJeYekele HeefjJeej

12

efJeosMeer keeHeexjs efvekeee

13

OVERSEAS CORPORATE BODIES TRUSTS

veeme
14 FOREIGN NATIONALS

efJeosMeer veeieefjke
Total

kegue

12.1 01.04.2008 mes 31.03.2009 leke Smeees / Geble Keeleesb ceW He[s ngS MesejeW keer efmLeefle

12.1 Status of Shares Lying in Escrow/Suspense Account as on 01.04.2008 to 31.03.2009

01.04.2008 kees DeesHeefvebie yewuebme

Opening Balance as on 01.04.2008

eeHle DevegjesOeeW keer mebKee

No. of requests received

DeJeefOe kes oewjeve esef[ efkeS ieS Mesej

Shares credited during the period

31.03.2009 kees Debeflece Mes<e

Closing Balance as on 31.03.2009

ceeceues / Cases

Mesej / Shares

ceeceues / Cases

Mesej / Shares

ceeceues / Cases

Mesej /Shares

428

52313

121

109

17503

319

34810*

*Ssmes

MesejeW kes mener OeejkeeW eje oeJee venerb efkeS peeves leke Fve MesejeW mes mebyebefOele Jees osves kee DeefOekeej jeskee jKee peeS.

*The voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares.

171

keeheexjs efveeb$eCe efjhees&

13.

MesejOeejkeeW kee JeieeakejCe - 31.03.2009 kees esCeerJeej efmLeefle 31.03.2009 leke efJelejCe Mes[etue (kegue)

13.

Distribution of Shareholders - Categorywise as on 31.03.2009 Distribution schedule as on 31/03/2009 (Total)

e. meb.
S. no 1 2 3 4 5 6 7 8

esCeer Category
1 - 5000 5001 - 10000 10001 - 20000 20001 - 30000 30001 - 40000 40001 - 50000 50001 - 100000 100001 & Above

ceeceueeW keer mebKee

No. of Cases 185381 2400 746 201 101 82 140 364 189415

ceeceueeW kee % % of Cases

97.87 1.27 0.39 0.11 0.05 0.04 0.07 0.19 100.00 14.

kegue Mesej
Total Shares 20597856 1926768 1150746 517279 359792 395013 1059248 338259798 364266500

jeefMe
Amount 205978560.00 19267680.00 11507460.00 5172790.00 3597920.00 3950130.00 10592480.00 3382597980.00 3642665000.00

jeefMe kee % % of Amount

5.65 0.53 0.32 0.14 0.10 0.11 0.29 92.86 100.00

kegue / Total:

14.

31.03.2009 kees MesejOeejkeeW kee Yeewieesefueke ef< mes (jepe-Jeej) JeieeakejCe 31.3.2009 leke jepeJeej efjHees& STATE ece meb. jepe
SNO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

Geographical (State wise) Distribution of Shareholders as on 31.03.2009 State-wise report as on 31/03/2009

ceeceues
CASES 7601 14 548 2980 530 8696 1512 48852 2329 277 248 7954 3171 5451 44371 103 2 114 1220 5141 1910 13097 12605 169 14295 6225 189415

Mesej
SHARES 1123043 1799 64982 346664 113934 198013921 221684 6430347 290913 30174 30208 913174 483870 787793 145842091 14523 398 25580 125745 1841254 254085 1599069 2380072 20911 1946372 1363894 364266500

ANDHRA PRADESH

DeebOe HeosMe DeCeeeue HeosMe Demece efyenej eb[erie{ efouueer ieesJee iegpejele nefjeeCee efnceeeue HeosMe peccet Sb[ keMceerj kevee&ke kesjue ceOeHeosMe ceneje<^ cesIeeuee efcepeesjce veeieeueQ[ G[ermee Deve hebpeeye jepemLeeve leefceuevee[g ef$ehegje GejHeosMe Heefece yebieeue kegue

ARUNACHAL PRADESH ASSAM BIHAR CHANDIGARH DELHI GOA GUJARAT HARYANA HIMACHAL PRADESH JAMMU & KASHMIR KARNATAKA KERALA MADHYA PRADESH MAHARASHTRA MEGHALAYA MIZORAM NAGALAND ORISSA OTHERS PUNJAB RAJASTHAN TAMIL NADU TRIPURA UTTAR PRADESH WEST BENGAL Total:

172

Corporate Governance

15.

me@ke SkemeeWpeeW ceW MesejeW kes meewoeW keer cee$ee leLee Mesej keercele (01.04.2008 mes 31.03.2009 leke)
MONTH

15.

Share Price, Volume of Shares Traded in Stock Exchanges (From 01-04-2008 to 31- 03-2009)

ceen

vesMeveue meke SkemeeWpe Dee@He Fbef[ee efue. (SveSmeF&)

National Stock Exchange of India Limited (NSE)

yeecyes meke SkemeeWpe efue. (yeerSmeF&)

Bombay Stock Exchange Ltd. (BSE)

Gelece () efvecvelece ()
APR 2008 329.00 329.70 274.00 271.50 309.00 338.70 327.00 303.00 287.00 298.45 258.95 249.25 267.40 253.00 198.55 188.20 228.35 262.35 214.35 220.35 232.60 222.30 207.15 170.35

meewoeW keer cee$ee (meb.)

11362662 8852452 9461859 12672181 15202258 27615511 24099591 16059775 19307965 19746437 14842944 23545509

Gelece (.)
320.90 329.90 273.80 270.00 309.50 338.00 330.00 301.70 287.45 297.30 255.30 249.85

efvecvelece (.)
267.00 254.20 199.30 188.30 245.00 270.15 215.10 235.25 232.50 225.35 207.70 180.50

meewoeW keer cee$ee (meb.)

3930984 3924989 3783980 5564352 6413917 12551870 7802205 5760892 5465242 5780079 3293161 6594241

Highest (Rs.) Lowest (Rs.) Volume Traded (Nos.) Highest (Rs.)

Lowest (Rs.) Volume Traded (Nos.)

DeHewue
MAY 2008

ceF&
JUN 2008

petve
JUL 2008

pegueeF&
AUG 2008

Deiemle
SEP 2008

efmelebyej
OCT 2008

Dekeletyej
NOV 2008

veJebyej
DEC 2008

efomebyej
JAN 2009

peveJejer
FEB 2009

HejJejer
MAR 2009

ceee&

173

keeheexjs efveeb$eCe efjhees&

16.
1.

Je<e& 2008-09 kes oewjeve efveege efveosMekeeW kee Jeefeiele efJeJejCe :

Profile of Directors appointed during the year 2008 09

eer Sce [er ceuee

Shri M.D. Mallya

veece helee

: 09.11.1952 : 56 : 1) Bachelor of Engineering 2) Post Graduate Diploma in Management from Indian Institute of Science, Bangalore : Whole time Director appointed w.e.f. 7th efveosMeke kes he ceW : keW mejkeej eje yeQkekeejer kebheveer (GheeceeW kee Depe&ve Nature of SJeb DevlejCe) DeefOeefveece 1970 keer Oeeje 9(3) (S) kes appointment as May, 2008 by the Central Government efveegefe kee mJehe u/s 9(3)(a) of the Banking Companies lenle 7 ceF& 2008 mes hetCe&keeefueke efveosMeke efveege. Director (Acquisition & Transfer of Undertakings) Act,1970. : Shri Mallya started his banking career : eer ceuee ves Dehevee yeQeEkeie peerJeve Deiemle 1976 ceW Experience DevegYeJe from Corporation Bank in August 1976. keeheexjsMeve yeQke mes heejbYe efkeee. 31 Je<e& kes Deheves In a career spanning over 31 years, he yeQeEkeie keee& DevegYeJe kes oewjeve, Gvnebsves efJeefYeVe heoeW SJeb acquired rich experience in banking at keeeeX kees kejles ngS yeQeEkeie kes #es$e ceW ienve DevegYeJe various positions and assignments. neefmeue efkeee. He was Executive Director of Oriental Jes DeesefjSbue yeQke Dee@]He keeceme& (Dees.yeer.meer.) ceW Bank of Commerce (OBC). As Chairman & Managing Director, Bank keee&keejer efveosMeke Les. of Maharashtra, he has made rapid yeQke Dee@]He ceneje^ kes DeOe#e SJeb heyebOe efveosMeke kes he strides in all its spheres of activities, ceW, GvneWves Fmekes meYeer keee&keueeheeW, eLee JeJemeee Je=e, f like business growth, technology, HR, heeeeseiekeer, ceeveJe mebmeeOeve, mebie"veelceke hegvemejevee Deeefo s f organizational restructuring, etc

pevceefleefLe Deeeg eesielee

: eer Sce.[er.ceuee : yeQke Dee@]He ye[ewoe meer-26, "peer" yueeke, yeebe keguee& keecheueskeme yeebe (hetJe&) cegbyeF& - 400 051 : 09.11.1952 : 56 : 1. Fbpeerefveeefjbie -mveeleke 2. Yeejleere efJe%eeve mebmLeeve, yebieueg mes heyebOeve ceW mveelekeesej ef[hueescee

Name Address

: Shri M.D. Mallya : Bank of Baroda, C-26, "G" Block, Bandra Kurla Complex, Bandra (East), MUMBAI - 400 051

Date of Birth Age Qualifications

kes #es$e ceW cenlJeHetCe& meHeuelee Dee|pele keer. : efveosMeke kes he ceW : (i) Yeejleere efveee&le Deeeele yeQke efveosMeke DeLeJee (ii) o vet Fbef[ee SMeesjWme keb. efue. meefceefle heoeW hej keee& (iii) ke=ef<e efJee efveiece efue. (iv) ye[ewoe heeeefveej Deeeqmle heyebOeve keb. efue. (v) ye[ewoe Sue. Sb[ peer. peerJeve yeercee keb. efue. (vi) yeeyekee[&dme efue. (vii) yeQke Dee@]He ye[ewoe (yeeslmeJeevee) efue. (viii) yeQke Dee@]He ye[ewoe (Ieevee) efue. (ix) yeQke Dee@]He ye[ewoe (ef^efve[e[ SJeb esyeeiees) efue. (x) yeQke Dee@]He ye[ewoe (vetpeerueQ[) efue. Jes efvecveefueefKele ieJee\veie keeQefmeue kes Yeer meome nQ. (i) je^ere yeQke heyebOeve mebmLeeve (ii) yeQekE eie keee|ceke eeve mebmLeeve (DeeF&.yeer.heer.Sme) (iii) Yeejleere yeQeEkeie SJeb efJee mebmLeeve meefceefle heo vet Fbef[ee SMeesjWme keb. efue. keer uesKee hejer#ee meefceefle SJeb efveJesMe meefceefle kes meome. Deve kebheefveeeW ceW

Directorship or Committee Positions held in other Companies

yeQke Dee@]He ye[ewoe ceW Oeeefjle MesejeW keer mebKee

: Metve

No. of Shares held in Bank of Baroda

: Directorship i) Export Import Bank of India ii) The New India Assurance Co. Ltd iii) Agricultural Finance Corpn. Ltd. iv) Baroda Pioneer Asset Management Co. Ltd. v) Baroda L&G Life Insurance Co. Ltd. vi) BOBCARDS Ltd. vii) Bank of Baroda (Botswana) Ltd. viii) Bank of Baroda (Ghana) Ltd. ix) Bank of Baroda (Trinidad & Tobago) Ltd. x) Bank of Baroda (New Zealand) Ltd. He is also a member of the Governing Council of: i) National Institute of Bank Management ii) Institute of Banking Personnel Selection (IBPS) iii) Indian Institute of Banking & Finance Committee Positions: Member in the Audit Committee and Investment Committee of New India Assurance Co. Ltd. : NIL

174

Corporate Governance

2.

eer jepeerJe kegceej ye#eer

Shri Rajiv Kumar Bakshi Name : Shri Rajiv Kumar Bakshi

veece

: eer jepeerJe kegceej ye#eer

helee

: yeQke Dee@]He ye[ewoe meer-26, "peer" yueeke, yeebe keguee& keecheueskeme yeebe (hetJe&) cegbyeF& - 400 051

Address

: Bank of Baroda, C-26, "G" Block, Bandra Kurla Complex, Bandra (East), MUMBAI - 400 051

pevceefleefLe

: 21.10.1952

Date of Birth

: 21.10.1952

Deeeg

: 56

Age

: 56

eesielee

: Sce.Sme.meer., meer.S.DeeF&.DeeF&.yeer. yewke heyebOeve ceW ef[hueescee

Qualifications

: M.Sc., CAIIB : Diploma in Bank Management

: Whole time Director appointed w.e.f. efveosMeke kes he ceW : keW mejkeej eje yeQkekeejer kebheveer (GheeceeW kee Depe&ve Nature of SJeb DevlejCe) DeefOeefveece 1970 keer Oeeje 9(3) (S) appointment as 6th November, 2008 by the Central efveegefe kee mJehe Government u/s 9(3)(a) of the Banking kes lenle 6 veJecyej 2008 mes hetCe&keeefueke efveosMeke Director Companies (Acquisition & Transfer of efveege. Undertakings) Act,1970.

DevegYeJe

: eer ye#eer ves yeQke Dee@]He Fbef[ee ceW hejerJeer#eeOeerve Experience DeefOekeejer kes he ceW 07.07.1975 kees mesJee heejbYe keer. GvnW Yeejle SJeb efJeosMe DeLee&le uebove SJeb eEmeieehegj ceW MeeKee heefjeeueve kee oerIe& SJeb JewefJeOehetCe& DevegYeJe heehle nw. yeQke Dee@]He ye[ewoe ceW keee&keejer efveosMeke kee keee& DeejbYe kejves mes hetJe&, Jes yeQke Dee@]He Fbef[ee ceW ceneheyebOeke (JeJemeee heefeee hegvemejevee SJeb veJeesvces<eer heeeme) kes he ceW keee&jle Les.

: Shri Bakshi joined Bank of India as Probationary Officer on 07.07.1975. He posses long and varied experience in branch operations in India and Overseas. i.e. London and Singapore. Prior to joining Bank of Baroda as Executive Director, he was working as General Manager (Business Process Reengineering & New initiatives) at Bank of India.

: efveosMeke kes he ceW : Deve kebheefveeeW ceW 1. Fb[es peeeqcyeee yeQke efue. efveosMeke DeLeJee 2. yeQke Dee@]He ye[ewoe (lebpeeefveee) efue. meefceefle heoeW hej keee& meefceefle heo Fb[es peeeqcyeee yeQke efue. keer $e+Ce meceer#ee meefceefle SJeb uesKeehejer#ee meefceefle kes meome. : Metve

Directorship or Committee Positions held in other Companies

: Directorship: 1. Indo Zambia Bank Ltd. 2. Bank of Baroda (Tanzania) Ltd. Committee Positions: Member of Loan Review Committee and Audit Committee of Indo Zambia Bank Ltd. : NIL

yeQke Dee@]He ye[ewoe ceW Oeeefjle MesejeW keer mebKee

No. of Shares held in Bank of Baroda

175

keeheexjs efveeb$eCe efjhees&

3.

eer DeefceleeYe Jecee&

Shri Amitabh Verma

veece

: eer DeefceleeYe Jecee&, DeeF&.S.Sme.

Name

: Shri Amitabh Verma, IAS

helee

: mebege meefeJe (yeer.Dees.S.) Yeejle mejkeej, efJee ceb$eeuee, efJeeere mesJeeSb efJeYeeie, peerJeve oerhe efyeeu[ie, leermeje leue, mebmeo ceeie& veF& efouueer - 110 001

Address

: Joint Secretary (BOA), Government Finance, of India, Ministry of

Dept. of Financial Services, Jeewan Deep Building, 3rd Floor, Sansad Marg, NEW DELHI - 110 001

pevceefleefLe

: 16.09.1959

Date of Birth

: 16.09.1959

Deeeg

: 49 Je<e&

Age

: 49 years

eesielee

: jepeveerefle efJe%eeve SJeb DeLe&Meem$e ceW Sce.S., etefveJee|meer Qualifications DeeHe ceeveesmj, et.kes. 1982 kes DeeF&.S.Sme. mebJeie& kes DeefOekeejer.

: M.A in Political Science & M.A. in Economics, University of Manchester, U.K. Belongs to IAS cadre of 1982 batch.

: Nominated w.e.f. 10.06.2008 by Govt. efveosMeke kes he ceW : keW mejkeej eje yeQkekeejer kebheveer (GheeceeW kee Depe&ve Nature of of India u/s 9(3)(b) of the Banking appointment as SJeb DevlejCe) DeefOeefveece 1970 keer Oeeje 9(3) (yeer) kes efveegefe kee mJehe Companies (Acquisition & Transfer of Director lenle 10 petve 2008 mes hetCe&keeefueke efveosMeke veeefcele. Undertakings) Act, 1970 representing Central Government.

DevegYeJe

: eer DeefceleeYe Jecee&, efJee ceb$eeuee, efJeeere mesJeeSb Experience efJeYeeie ceW mebege meefeJe nQ. GvnW DeieCeer meeJe&peefveke #es$e kes yeQkeeW kes efveosMeke ceb[ueeW ceW efveosMeke jnves kee oerIe& DevegYeJe nw.

: Shri Amitabh Verma is at present Joint Secretary in the Ministry of Finance, Department of Financial Services. He has rich experience of being on the Boards of leading Public Sector Banks.

: efveosMeke kes he ceW : Deve kebheefveeeW ceW 1. je^ere DeeJeeme yeQke efveosMeke DeLeJee meefceefle heoeW hej keee& 2. veeyee[& meefceefle heo Metve

Directorship or Committee Positions held in other Companies

: Directorship: 1. National Housing Bank 2. NABARD Committee Positions: NIL

yeQke Dee@He ye[ewoe ceW ] Oeeefjle MesejeW keer mebKee

: Metve

No. of Shares held in Bank of Baroda

: NIL

176

Corporate Governance

4.

[e@. Oecex Yeb[ejer

Dr. Dharmendra Bhandari

veece helee

: [e@. Oecex Yeb[ejer : 91, heYeele keeueesveer meebleeegpe (hetJe&) cegbyeF& - 400 055 : 15.09.1956 : 52 Je<e& : Sce. keece., SHe.meer.S., Heer.Se.[er.

Name Address

: Dr Dharmendra Bhandari : 91, Prabhat Colony, Santacruz (East), MUMBAI - 400 055

pevceefleefLe Deeeg eesielee efveosMeke kes he ceW efveegefe kee mJehe

Date of Birth Age Qualifications

: 15.09.1956 : 52 years : M.Com., F.C.A.., Ph.D.

: Elected from amongst Shareholders : yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) Nature of other than Central Government u/s 9(3) appointment as DeefOeefveece, 1970 keer Oeeje 9(3)(DeeF&) kes lenle (i) of the Banking Companies (Acquisition Director 23.12.2008 kees Deeeesefpele F&peerSce ceW yeQke kes kesvere & Transfer of Undertakings) Act, 1970 at mejkeej mes efYeVe MesejOeejkeeW eje 24.12.2008 mes 3 the Extraordinary General Meeting held Je<e& kes efueS efveJee&efele. on 23.12.2008 for a period of 3 years from 24.12.2008.

DevegYeJe

: [e. Yeb[ejer Yeejleere efj]peJe& yeQke hee&Jes#eCe efJeYeeie ceW Experience efJeMes<e [eter DeefOekeejer Les Deewj Yeejle ceW yeQkekeejer SJeb efJeeere eCeeueer kees meg{ kejves kes Gheee megPeeves kes efueS mebege mebmeoere meefceefle kes hejeceMe&oelee Les. Jes osvee yeQke Deewj yeQke Dee@He ceneje^ kes efveosMeke ceb[uees cesb efveosMeke Yeer jns. Jes vesMeveue meke SkemeeWpe Dee@]He Fbef[ee efueefces[ keer meome eeve meefceefle kes meome nQ.
Directorship or Committee Positions held in other Companies

: Dr. Bhandari was Officer on Special Duty, Department of Supervision, RBI and was a consultant to the Joint Parliamentary Committee constituted to suggest ways to strengthen the banking and financial systems in India. He was also a Director on the Boards of Dena Bank and Bank of Maharashtra. He is a member on the Member Selection Committee of National Stock Exchange of India Limited. : Directorship: (i) M/s J P Morgan Mutual Fund India Pvt. Ltd.

: efveosMeke kes he ceW Deve kebheefveeeW ceW cewmeme& pes.heer.cee@ie&ve cegegDeue Hedb[ Fbef[ee hee. efveosMeke DeLeJee Deve (i) meefceefle heoeW hej keee& efue. Jes efvecveefueefKele mebmLeeDeeW kes meome / efveosMeke Yeer nQ : (i) cewmeme& nejceesveer Heej efmeuJej HedeGb[sMeve (ii) cewmeme& ef[efpeue efyepe HedeGb[sMeve meefceefle heo Jes cew.pes.heer.cee@ie&ve cegegDeue Hedb[ Fbef[ee hee. efue. keer uesKee hejer#ee meefceefle kes meome nQ. Jes vesMeveue me@ke SkemeeWpe Dee@]He Fbef[ee efue. keer meomelee Devegceesove meefceefle kes Yeer meome nQ. Jes cew. Debpeefue megYee<e SmeesefmeSdme ee&[& SkeeGbWdme ceW Ske hee&vej Yeer nw. yeQke Dee@He ye[ewoe ceW ] Oeeefjle MesejeW keer mebKee : 600

He is also a member/Director of the following : (i) (ii) M/s Harmony Foundation for Silver

M/s Digital Bridge Foundation

Committee Positions: Member of Audit Committee of M/s J P Morgan Mutual Fund India Pvt. Limited. He is also a member on the Membership Approval Committee of National Stock Exchange of India Limited. He is a Partner in M/s. Anjali Subhash Associates, Chartered Accountants. No. of Shares held in Bank of Baroda : 600

177

keeheexjs efveeb$eCe efjhees&

5.

[e. oerheke yeer.Heeke

Dr. Deepak B. Phatak Name : Dr. Deepak B. Phatak

veece

: [e. oerheke yeer.Heeke

Address : A-15, Hillside, IIT Powai, MUMBAI - 400 076 Date of Birth : 02.04.1948

helee

: S-15, efnuemeeF[, DeeF&.DeeF&.er. heJeF& cegbyeF& - 400 076

pevceefleefLe

: 02.04.1948
Age : 61 years

Deeeg

: 61 Je<e&
Qualifications : B.E., M.Tech., Ph.D

eesielee

: yeer.F&., Sce. ske., heer.Se.[er.

: Elected from amongst Shareholders other than Central Government u/s 9(3) (i) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 at the Extraordinary General Meeting held on 23.12.2008 for a period of 3 years from 24.12.2008. : Dr. Phatak is presently Chair Professor, Kanwal Rekhi School of Information Technology, Indian Institute of Technology (IIT), Mumbai. He has been teaching at IIT, Mumbai since 1971. He was appointed as the first Dean of Resource Development, IIT, Mumbai.

efveosMeke kes he ceW : yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) Nature of DeefOeefveece, 1970 keer Oeeje 9(3)(DeeF&) kes lenle appointment as efveegefe kee mJehe Director 23.12.2008 kees Deeeesefpele F&peerSce ceW yeQke kes kesvere mejkeej mes efYeVe MesejOeejkeeW eje 24.12.2008 mes 3 Je<e& kes efueS efveJee&efele.

DevegYeJe

: [e. Heeke Jele&ceeve ceW kebJeue jsKeer mketue Dee@He Experience FbHeejcesMeve skeveesueespeer, Yeejleere heeweesefiekeer mebmLeeve (cegbyeF&) ceW heoemeerve heesHesmej nwb. Jes DeeF&.DeeF&.er., cegbyeF& ceW 1971 mes DeOeeheve keee& kej jns nQ. Jes DeeF&. DeeF&.er., cegbyeF& cebs mebmeeOeve efJekeeme kes heLece [erve efveege efkeS ieS Les.

Deve kebheefveeeW ceW : Se.[er.SHe.meer. Deeeqmle heyebOeve keb. efue. efveosMeke DeLeJee meefceefle heoeW hej keee& meefceefle heo Jes ceQ. Se[erSHedmeer Deeeqmle heyebOeve keb.efue. keer ieenke mesJee meefceefle Deewj peesefKece heyebOeve meefceefle kes meome nQ. Jes efvecveefueefKele kes meome Yeer nQ : (i) vewMeveue FvMeesjWme Dekeeoceer (ii) yeQeEkeie keee|ceke eeve mebmLeeve (iii) je^ere yeQke heyebOeve mebmLeeve

Directorship : Directorship: or Committee HDFC Asset Management Co. Ltd. Positions held in Committee Positions: other Companies Member of Customer Service committee and Risk Management Committee of M/s HDFC Asset Management Co. Limited He is also member of : i) ii) iii) National Insurance Academy, Institute of Banking Personnel Selection National Institute Management. of Bank

yeQke Dee@He ye[ewoe ceW ] Oeeefjle MesejeW keer mebKee

100

No. of Shares held in Bank of Baroda

: 100

178

Corporate Governance

6.

eer ceewefueve S. Jew<CeJe

Shri Maulin A. Vaishnav Name : Shri Maulin A. Vaishnav

veece

: eer ceewefueve S. Jew<CeJe

Address : 8, Anand Nagar Society, Near New India Mill, Jetalpur Road, Vadodara - 390 007 Gujarat

helee

: 8, Deevebo veiej meesmeeFer vet Fbef[ee efceue kes meceerhe pesleuehegj jes[, Je[esoje - 390 007 iegpejele
Date of Birth

: 12.12.1950

pevceefleefLe

: 12.12.1950
Age : 59 years

Deeeg

: 59 Je<e&
Qualifications : Diploma in Fire Prevention

eesielee

: Deeqive efveJeejCe ceW ef[hueescee

: Elected from amongst Shareholders other than Central Government u/s 9(3) (i) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 at the Extraordinary General Meeting held on 23.12.2008 for a period of 3 years from 24.12.2008.

efveosMeke kes he ceW : yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) Nature of DeefOeefveece, 1970 keer Oeeje 9(3)(DeeF&) kes lenle appointment as efveegefe kee mJehe Director 23.12.2008 kees Deeeesefpele F&peerSce ceW yeQke kes kesvere mejkeej mes efYeVe MesejOeejkeeW eje 24.12.2008 mes 3 Je<e& kes efueS efveJee&efele.

DevegYeJe

: eer Jew<CeJe Ske heefleeqle meeceeefpeke keee&kelee& nQ. Jes Experience iegpejele meceger yees[&, o heeFcejer mketue yees[& Deewj ye[ewoe cegefveefmeheue efveiece kes DeOe#e kes heo hej keee& kej egkes nQ. Jes Fbef[eve pesmeerpe kes je^ere efveosMeke Yeer Les. Fmemes henues, Jes yeQkekeejer kebheveer (GheeceeW kee Depe&ve SJeb DeblejCe) DeefOeefveece, 1970 keer Oeeje 9(3)(Se) kes lenle keW mejkeej eje veeefcele efkeS ieS Les Deewj leeie he$e osves kes keejCe 28.11.2008 mes efveosMeke veneR jns.

: Shri Vaishnav is an accomplished Social Worker. He previously held the position of Chairman of the Gujarat Maritime Board, the Primary Schools Board and Baroda Municipal Corporation. He was also a national director- Indian Jaycees. Earlier he was nominated by the Central Government under section 9(3) (h) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, who ceased to be a Director w.e.f. 28.11.2008 upon his resignation.

Deve kebheefveeeW ceW : Metve efveosMeke DeLeJee meefceefle heoeW hej keee&

Directorship : NIL or Committee Positions held in other Companies

yeQke Dee@He ye[ewoe ceW ] Oeeefjle MesejeW keer mebKee

125

No. of Shares held in Bank of Baroda

: 125

179

keeheexjs efveeb$eCe efjhees& / Corporate Governance

keeheexjs efveeb$eCe keer MeleeX kes Devegheeueve mes mebyebefOele uesKee hejer#ekeeW kee eceeCe-he$e
Auditors Certificate on Compliance of Conditions of Corporate Governance To : The Members of Bank of Baroda,
We have examined the compliance of conditions of Corporate Governance by Bank of Baroda, for the year ended on 31st March 2009, as stipulated in Clause-49 of the Listing Agreement of the Bank with Stock Exchanges. i.e. National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The compliance of conditions of Corporate Governance is the responsibility of management. Our examination was limited to procedures and implementation thereof, adopted by the Bank for ensuring the compliance of the conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Bank. In our opinion and to the best of our information and according to the explanations given to us, we certify that the Bank has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement. We state that such compliance is neither an assurance as to the future viability of the Bank nor the efficiency or effectiveness with which the management has conducted the affairs of the Bank.

yeQke Dee@He ye[ewoe kes meomeeW kes efueS

nceves yeQke Dee@He ye[ewoe kes, me@ke SkemeeWpees DeLee&le vesMeveue me@ke SkemeWpe Dee@He Fbef[ee efueefces[ leLee yee@cyes me@ke SkemeWpe efueefces[ kes meeLe meteerye kejves mebyebOeer kejej kes Keb[ 49 ceW efJeefveefo&< keeHeexjs efveeb$eCe MeleeX kes Hemebie ceW yeQke eje 31 ceee& 2009 kees meceeHle Je<e& kes efueS keeHeexjs efveeb$eCe mebyebOeer DevegHeeueve efmLeefle keer peebe keer nw. keeHeexjs efveeb$eCe mebyebOeer MeleeX kee DevegHeeueve kejvee HeyebOeve kee oeefelJe nw. nceejer peebe, keeHeexjs efveeb$eCe mebyebOeer yeeOeleeDeeW kee DevegHeeueve megefveefele kejves nsleg yeQke eje DeHeveeeer ieF& HeefeeeDeeW Deewj keeee&vJeeve leke meerefcele Leer. en ve lees uesKee Hejer#ee nw Deewj ve ner yeQke keer efJeeere efJeJejefCeeeW kes yeejs ceW nceeje DeefYecele nw. nce DeHeveer jee leLee meJeexece peevekeejer leLee nceW efoS mHe<erkejCeeW kes DeeOeej Hej HeceeefCele kejles nQ efke yeQke ves GHejeskele meteerye kejej ceW efJeefveefo&< keeHeexjs efveeb$eCe mebyebOeer yeeOeleeDeeW kee DevegHeeueve efkeee nw. nceeje en Yeer DeefYekeLeve nw efke Gkele DevegHeeueve kee DeefYeHeee yeQke keer YeefJe<e keer me#ecelee kes Heefle en keesF& DeeMJeemeve veneR nw Deewj ve ner en yeQke kes keee&HeeuekeeW kes mebeeueve ceW HeyebOeve keer kegMeuelee SJeb HeYeeJeHetCe&lee kes yeejs ceW DeeMJeemeve nw.

ke=les cesmeme& yeer.meer.pewve SC[ keb. meveoer uesKeekeej

For M/s B.C.JAIN & CO. Chartered Accountants

ke=les cesmeme& S. meeosJe SC[ keb meveoer uesKeekeej

For M/s A. SACHDEV & CO. Chartered Accountants

ke=les cesmeme& ieghlee veeej SC[ keb. meveoer uesKeekeej

For M/s GUPTA NAYAR & CO. Chartered Accountants

jbpeerle efmebn
Ranjeet Singh Yeeieeroej / Partner M. No. 073488

ceveer<e DeieJeeue
Manish Agarwal Yeeieeroej / Partner M. No. 078628

megjsv efmebn vekee

Surendra Singh Naruka Yeeieeroej / Partner M. No. 091740

ke=les cesmeme& Sme.kes.kehetj SC[ keb. meveoer uesKeekeej

For M/s S.K. KAPOOR & CO. Chartered Accountants

ke=les cesmeme& Deeveer SC[ DemeesefmeSdme meveoer uesKeekeej

For M/s ASHWANI & ASSOCIATES Chartered Accountants

ke=les cesmeme& Sve.meer.ye@vepeea SC[ keb. meveoer uesKeekeej

For M/s N.C. BANERJEE & CO. Chartered Accountants

Jeer.yeer. efmebn
V. B. Singh Yeeieeroej / Partner M. No. 073124

DejefJebo pewve
Arvind Jain Yeeieeroej / Partner M. No. 097549

Sce. meer. kees[eueer

M. C. Kodali Yeeieeroej / Partner M. No. 056514

Place : Mumbai Date : 26th May 2009

180

veesefme / Notice

veesefme / NOTICE

yeQke Dee@He ye[ewoe (He.kee. : ceeb[Jeer, ye[ewoe)

(H.O.: Mandvi, Baroda)

keeHeexjs keeee&uee : ye[ewoe keeHeexjs meWj,

Corporate Office: Baroda Corporate Centre, meer-26, "peer" yueeke, yeeve keguee& kee@cHeueskeme C-26, G Block, Bandra Kurla Complex

yeeve (HetJe&), cegbyeF& 400 051

Bandra (East), MUMBAI 400 051

Sleod eje metefele efkeee peelee nw efke yeQke Dee@He ye[ewoe kes MesejOeejkeeW keer 13JeeR Jeeef<e&ke meeceeve yew"ke iegJeej, 02 pegueeF&, 2009 kees Heele:10.30 yepes Hees.meer.meer.cesnlee pevejue SpetkesMeve Dee@[eresefjece, [er.Sve.ne@ue ieeGC[, Sce. Sme.etveerJeefme&er, HeleeHeiebpe, Je[esoje - 390 002 ceW Deeeesefpele nesieer. FmeceW efvecveefueefKele keejesyeej mebeeefuele neWies. 1. yeQke kee 31 ceee&, 2009 kes legueve-He$e, 31 ceee&, 2009 kees meceeHle Je<e& kes ueeYe-neefve uesKee, uesKeeW ceW meceeefnle DeJeefOe kes keee&efve<Heeove leLee keee&keueeHeeW Hej efveosMeke ceb[ue keer efjHees& Deewj legueve-He$e SJeb uesKeeW Hej uesKee Hejer#ekeeW keer efjHees& Hej efJeeej-efJeceMe&, Devegceesove Je DebieerkejCe.

NOTICE is hereby given that the 13th ANNUAL GENERAL MEETING of the shareholders of BANK OF BARODA will be held on Thursday, 02nd July, 2009 at 10.30 a.m. at Prof. C.C. Mehta General Education Auditorium, D. N. Hall Ground, M. S. University, Pratapganj, Vadodara 390 002 to transact the following business: 1. To discuss, approve and adopt the Balance Sheet of the Bank as at 31st March, 2009, Profit & Loss Account for the year ended 31st March, 2009, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the accounts and the Auditors' Report on the Balance Sheet and Accounts. To declare Dividend for the year 2008-09.

2.

2.

Je<e& 2008-09 kes efueS ueeYeebMe keer Iees<eCee.

mLeeve : cegbyeF& leejerKe : 2 petve, 2009

(Sce.[er.ceuee) DeOe#e SJeb HeyebOe efveosMeke

Place: Mumbai Date: 02nd June 2009

(M.D.MALLYA) Chairman and Managing Director

181

efHHeefCeeeb

efHHeefCeeeb / Notes
1. Hee@kemeer keer efveegefkele : yew"ke ceW Yeeie uesves Deewj cele osves kes efueS Hee$e MesejOeejke DeHeves mLeeve Hej yew"ke ceW Yeeie uesves Deewj cele osves kes efueS Heek@ emeer efveegkele kejves nsleg Hee$e nesiee / nesieer (yeQke kes efkemeer DeefOekeejer DeLeJee kece&eejer mes efYevve) Deewj Heek@ emeer kees yeQke kee peeSiee. peye Jen Jeeef<e&ke efjHees& kes meeLe Yespes ieS Heece& "yeer" ceW nes. Heek@ emeer HeYeeJeer nesves kes efueS DeeJeMeke nw efke cegKleejveecee DeLeJee Deve HeeefOekeej, eefo keesF& nes, efpemekes Debleie&le Fme Hej nmlee#ej efkeee ieee nw DeLeJee Gme cegKleejveecee ee Deve HeeefOekeej He$e keer Ske Heele efpemes veesjer Heefyueke DeLeJee efkemeer ceefpem^ ves f s kee cegKleejveecee DeLeJee keesF& Deve HeeefOekeej He$e Henues yeQke ceW ve pecee Deewj ve ner Hebpeerke=le kejeee ieee nes, kes meeLe yew"ke keer leejerKe mes 4 efove HetJe& DeLee&le MeefveJeej, efoveebke 27 petve, 2009 kees oesHenj 2.00 yepes leke ee Gmemes Henues Hee@ kemeer Heece& yeQke Dee@He ye[ewoe, kesJeeF&meer Sb[ SSceSue efJeYeeie, HeOeeve keeee&uee, HeOeeve keeee&uee ceW HeeHle nes peevee eeefnS. 2. HeefleefveefOe keer efveegefkele :
1. Appointment of Proxy: A SHAREHOLDER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY (OTHER THAN AN OFFICER OR AN EMPLOYEE OF THE BANK) TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF AND THE PROXY NEED NOT BE A SHAREHOLDER OF THE BANK. No instrument of Proxy shall be valid unless it is in Form B as annexed in the Annual Report. The Proxy, in order to be effective, must be received at Head Office situated at Bank of Baroda, KYC & AML Department, 08th Floor, Suraj Plaza I, Sayajiganj, Vadodara 390 005 not less than four days before the date of meeting i.e. on or before the closing hours of the Bank at 2.00 p.m. on Saturday, 27th June, 2009, together with the Power of Attorney or other authority, if any, under which it is signed or a copy of that Power of Attorney or other authority certified as a true copy by a Notary Public or a Magistrate unless such Power of Attorney or other authority has been previously deposited and registered with the Bank. 2. Appointment of a Representative: No person shall be entitled to attend or vote at the meeting as a duly authorized representative of a Company unless a copy of the resolution appointing him as a duly authorized representative, certified to be true copy by the Chairman of the meeting at which it was passed shall have been deposited at the Head Office of the Bank not later than four days before the date fixed for the meeting i.e. on or before the closing hours of the Bank at 2.00 p.m. on Saturday, 27th June, 2009. 3. Attendance Slip-Cum Entry Pass: For convenience of the Shareholders, Attendance Slipcum-Entry Pass is annexed to this Notice. Shareholders are requested to fill-in and affix their signatures at the space provided therein and hand over the same at the venue of the Meeting. Proxy / Representative of the shareholder should state on the attendance slip as "Proxy" or "Representative", as the case may be. 4. Closure of Register of Shareholders: The Register of Shareholders and Share Transfer Books of the Bank will remain closed from 20th June 2009 (Saturday) to 2nd July 2009 (Thursday) (both days inclusive) for the purpose of Annual General Meeting and payment of Dividend for the year 2008-09. 5. Payment of Dividend : The Board of Directors of the Bank in its meeting held on 27th April 2009 has recommended dividend @ Rupees Nine Per Equity Share of Rs.10/- each fully Paid Up for the F.Y ended 31st March 2009. Pursuant to the Book Closure as mentioned at point no. 4 above, such dividend is payable to shareholders whose names appear on the Register of Shareholders of the Bank as on 2nd July 2009 (Thursday) for those holding shares in Physical Form and as per the details to be furnished by the depositories i.e. NSDL & CDSL as of 19th June 2009 (Friday) for those holding shares in demat form. The dividends will be distributed to the eligible shareholders within 30 days from the date of the Annual General Meeting.

mebkeuHe keer Ske Heefle efpemes Gme yew"ke kes DeOe#e, efpemeceW en Heeefjle efkeee yew"ke keer leejerKe mes 4 efove HetJe& DeLee&led MeefveJeej, efoveebke 27 petve, 2009 kees oesHenj 2.00 yepes ee Fmemes Henues Gkele Devegmeej efmLele yeQke kes HeOeeve keeee&uee ceW pecee ve kej efoee nes. 3. GHeefmLeefle - Heeea men HeJesMe He$e : MesejOeejkeeW keer megeJeOee nsleg Fme efjHees& kes meeLe GHeefmLeefle Heeea men HeJesMe f He$e mebueive nw. MesejOeejkeeW mes DevegjesOe nw efke GHeefmLeefle Heeea Yejkej Deewj GmeceW oMee&S ieS mLeeve Hej DeHeves nmlee#ej kejkes, Fmes yew"ke mLeue Hej meeQHe oW. MesejOeejke kes Heekemeer / HeeleefveefOe kees GHeefmLeefle Heeea Hej eLeeefmLeefle "Hee@ @ f kemeer" ee "HeeleefveefOe" pewmeer Yeer efmLeefle nes, Debekele kejvee eeefnS. f f MesejOeejke - jefpemj kee yebo nesvee : yeQke kes MesejOeejkeeW kee jefpemj leLee Mesej DeblejCe jefpemj 20 petve 2009 (MeefveJeej)mes 2 pegueeF&, 2009 (iegJeej) leke (oesveeW efoveeW meefnle) Je<e& 2008-09 keer Jeeef<e&ke meeceeve yew"ke leLee ueeYeebMe Yegieleeve megefveefele kejves kes GsMe mes yebo jnsiee. ueeYeebMe kee Yegieleeve : yeQke kes efveosMeke ceb[ue ves 27 DeHewue, 2009 kees Deeeesefpele DeHeveer yew"ke ceW 31 ceee&, 2009 kees meceeHle efJeeere Je<e& kes efueS ueeYeebMe .9/- Heefle HetCe& meboe meeceeve Mesej) keer oj mes mebmlegle efkeee. THej HewjeieeHe meb.4 ceW GefuueefKele yegke yeboer kes Devegmeej Ssmes ueeYeebMe kee Yegieleeve Gve nw SJeb 2 pegueeF&, 2009 (iegJeej) kees efpevekes veece yeQke kes Mesej OeejkeeW ceW ueeYeebMe efo 19 petve, 2009 (MegkeJeej) kees keejesyeej keer meceeefHle Hej SveSme[erSue leLee meer[erSmeSue eje oer peeves Jeeueer meteveeDeeW kes Devegmeej ueeYekeejer mJeeefcelJe kes DeeOeej Hej Hee$e MesejOeejkeeW kees Jeeef<e&ke meeceeve yew"ke kes 30 efoveeW kes Yeerlej efJeleefjle kej efoee peeSiee.

4.

5.

182

Notes

6.

[eke Helee / ueeYeebMe DeefOeosMe ceW HeefjJele&ve : MesejOeejkeeW mes DevegjesOe nw efke DeHeves Heles, ueeYeebMe DeefOeosMe, yeQke efJelejCe Deeefo ceW HeefjJele&ve kes yeejs ceW jefpem^ej SJeb ^ebmeHej SpeW kees lelkeeue metefele kej oW efpememes efke yeeo ceW keesF& DemegefJeOee ve nes. Ssmes MesejOeejke pees DeHeves Meseme& Fueske^eefveke Heece& ceW jKeles nQ Jes DeHevee DevegjesOe efjkee[& kejves kes efueS DeHeves ef[Heesefpejer menYeeieer [erHeer mes mebHeke& kej mekeles nQ.

6. Change of Address / Dividend Mandate: Shareholders, holding shares in Physical Form, are requested to intimate change in their Address, Dividend Mandate and Bank Particulars, etc., if any, to Banks Registrars & Transfer Agent, immediately after such changes to avoid inconvenience at a later date. The shareholders holding their shares in electronic form should approach only to their Depository Participant (DP) for recording such requests. 7. Consolidation of Folios: The Shareholders who are holding shares in identical order of names in more than one account are requested to intimate to the Registrars & Transfer Agent, the ledger folio of such accounts together with the share certificates to enable the Bank to consolidate all the holdings into one account. The share certificates will be returned to the members after making necessary endorsement in due course. 8. Lodgement for Transfers: Share Certificate along with transfer deed should be forwarded to the Registrars & Share Transfer Agent of the Bank at the following address. M/s Karvy Computershare Private Ltd., (Unit :- BANK OF BARODA) Plot No. 17-24, Vithalrao Nagar, Near Image Hospital, Madhapur, Hyderabad 500 081 Phone No. 040 2342 0815 to 820, Fax No. 040 2342 0814 E- mail : mailmanager@karvy.com 9. Unclaimed Dividend, if any: The Shareholders who have not encashed / received their dividend warrants for the previous years are advised to approach the Registrars & Transfer Agent at Hyderabad or at Banks Investors Services Department at Mumbai on the following address : Investors Services Department Bank of Baroda, 1st Floor, Baroda Corporate Centre, C-26, G-Block, Bandra Kurla Complex, Bandra (E), MUMBAI - 400 051. E-mail - investorservices@bankofbaroda.com Shareholders are requested to carefully note that pursuant to amendment in Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970/1980 vide The Banking Companies (Acquisition and Transfer of Undertakings) And Financial Institutions Laws (Amendment) Act, 2006, (effective from 26th September, 2006), Public Sector Banks are required to transfer amount remaining unpaid/unclaimed in Dividend accounts of earlier years on the commencement of the aforesaid Act, and also Dividend declared after the commencement of the said Act, to Unpaid Dividend Account. The amount transferred to the said Unpaid Dividend Accounts and remaining unclaimed/ unpaid for a period of seven years from the date of transfer, is required to be transferred to the Investors Education and Protection Fund (IEPF) established under sub-section (I) of Section 205 C of the Companies Act, 1956, which shall be used for the purpose and in the manner specified in Section 205 C of the Companies Act, 1956, and thereafter no claim for payment shall lie in respect thereof either to the Bank or to the IEPF. 10. Request to Members: Please note that copies of the Annual Report will not be distributed at the Annual General Meeting as an economy measure. Hence, members are requested to bring their copies of the Annual Report to the meeting.

7.

Heesefueees kee meceskeve : Mesej nw, Gvemes DevegjesOe nw efke Jes jefpem^ej SJeb DeblejCe SpeW kees Mesej HeceeCe-He$eeW kes meeLe Ssmes KeeleeW kes efueS uespej Heesefueees keer metevee oW leeefke yeQke Ske Keeles ceW meYeer Oeeefjle MesejeW kee meceskeve kej mekeW. He=<"ebkeve mebyebOeer DeeJeMeke keej&JeeF& kejves kes yeeo meomeeW kees Mesej HeceeCe-He$e eLeemecee ueewe efoS peeSbies.

8.

DeblejCeeW kes efueS HemlegleerkejCe : Mesej HeceeCe-He$eeW kees DeblejCe efJeuesKeeW kes meeLe yeQke kes jefpem^ej SJeb Mesej DeblejCe SpeW kes Heeme efvecveefueefKele Heles Hej Yespee peevee eeefnS: cewmeme& keeJeea kecHetjMesej Hee.efue. (FkeeF& : yeQke Dee@He] ye[ewoe) Huee@ meb.17-24, efJeuejeJe veiej, ceeOeeHegj, nwojeyeeo - 500 081 sueerHeesve : 040 2342 0815 mes 820 Hewkeme : 040 2342 0814 F&-cesue : mailmanager@karvy.com oeJee ve efkeS ieS ueeYeebMe, eefo keesF& neW : efpeve MesejOeejkeeW ves efHeues Je<eeX kes DeHeves ueeYeebMe He$eeW kee vekeoerkejCe ve kejeee nes DeLeJee GvnW HeeHle ve ngS neW, GvnW metefele efkeee peelee nw efke Jes jefpem^ej SJeb DeblejCe SpeW mes nwojeyeeo ceW DeLeJee yeQke kes efveJesMeke mesJeeSb efJeYeeie, cegbyeF& mes efvecveefueefKele Heles Hej meerOes mebHeke& kejW. efveJesMeke mesJeeSb efJeYeeie yeQke Dee@He ye[ewoe, HeLece cebefpeue, ye[ewoe keeHeexjs meWj meer-26, peer-yuee@ke, yeeve keguee& kee@cHeueskeme, yeeve (HetJe&), cegbyeF& - 400 051 F&-cesue - investorservices@bankofbaroda.com MesejOeejke ke=Heee vees kej ueW efke yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DevlejCe) DeefOeefveece 1970/1980 ceW mebMeesOeve kes HeuemJeHe yeQkekeejer kebHeveer (GHeeceeW kee Depe&ve SJeb DevlejCe) leLee efJeeere mebmLeeve efJeefOe (mebMeeseOele) f DeefOeefveece 2006 (26 efmelecyej, 2006 mes HeYeeJeer) kes cesve]pej meeJe&peefveke #es$e kes yeQkeeW kes efuees en DeefveJeee& nw efke Gkele DeefOeefveece ueeiet nesves kes yeeo HetJe& Je<eeX kes Yegieleeve nsleg / oeJee nsleg Mes<e ueeYeebMe keer jeefMe leLee Gkele DeefOeefveece ueeiet nesves kes yeeo Ieese<ele ueeYeebMe "DeHeoe ueeYeebMe Keeles" ceW f Devleefjle keer ieF& jeefMe kees DevlejCe keer leejerKe mes -7- Je<e& keer DeJeefOe leke Yegieleeve nsleg / oeJee nsleg Mes<e nw kees kecHeveer DeefOeefveece 1956 keer Oeeje 205 meer kes Devleie&le kesv mejkeej eje mLeeefHele efveJesMeke efMe#ee Je mebj#ee efveefOe (DeeF&FHeerSHe) ceW Devleefjle keer peeveer DeeJeMeke nw. Fme jeefMe kee GHeeesie & kecHeveer DeefOeefveece 1956 keer Oeeje 265 meer eLeeefveefo< GsMe kes efueS & efkeee peeSiee. lelHeeeled Fme mebyebOe ceW Yegieleeve nsleg keesF& Yeer oeJee yeQke kees ee

9.

10.

meomeeW mes DevegjesOe : ke=Heee vees kejW efke efkeHeeele keer ef< mes Jeeef<e&ke meeceeve yew"ke ceW Jeeef<e&ke efjHees& keer Heefleeeb r. Dele: meomeeW mes DevegjesOe nw efke Jes yew"ke ceW Jeeef<e&ke efjHees& keer Heefle meeLe ueskej DeeSb.

183

meer F& Dees / meer SHe Dees eceeCeerkejCe

C E O / C F O Certification

meer F& Dees / meer SHe Dees eceeCeerkejCe / C E O / C F O Certification

efveosMeke ceC[ue yeQke Dee@He ye[ewoe cegcyeF& efHee cenesoe, efJe<ee : Je<e& 2008-09 kes efueS meerF&Dees / meerSHeDees HeceeCeerkejCe - mecesefkele meteeryelee kejej kes Keb[ 49 kes DevegkejCe ceW nce Sleod eje HeceeefCele kejles nQ efke ke. nceves Je<e& 2008-09 keer efJeeere efJeJejCeer leLee vekeoer HeJeen efJeJejCeer (mecesefkele) keer meceer#ee keer nw leLee nceejer DeefOekelece peevekeejer SJeb efJeMJeeme kes Devegmeej :
i.

Board of Directors, Bank of Baroda Mumbai Dear Sirs, Re: CEO/CFO certification Consolidated for the year 2008-09 -

Pursuant to clause 49 of the Listing Agreements, we here by certify that: a. We have reviewed financial statements and the Cash Flow Statement for the year 2008-09 (Consolidated) and that to the best of our knowledge and belief: (i) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading; these statements together present a true and fair view of the Banks affairs and are in compliance with existing accounting standards, applicable laws and regulations.

Fve efJeJejefCeeeW ceW keesF& efJe<eeiele DeeLeeLe& DeefYekeLeve veneR nw DeLeJee keesF& efJe<eeiele leLe efHeeee veneR ieee nw DeLeJee FveceW keesF& Yeeceke DeefYekeLeve Meeefceue veneR efkeee ieee nw. es DeefYekeLeve / efJeJejCe yeQke kes keee&keueeHeeW kee mener SJeb mHe< ef<keesCe Hemlegle kejles nQ leLee es efJeeceeve uesKee ceevekeeW, ueeiet
b.

(ii)

iI.

Ke.

nceejer peevekeejer SJeb efJeMJeeme kes Devegmeej Je<e& kes oewjeve yeQke eje Ssmes keesF& mebJeJenej veneR efkeS ieS pees OeesKeeOe[er ceW efueHle nes, iewj keevetveer nes DeLeJee yeQke keer Deeeej mebefnlee kes efJe nes.
c.

There are, to the best of our knowledge and belief, no transactions entered into by the Bank during the year which are fraudulent, illegal or violative of the Banks code of conduct. We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the Bank pertaining to financial reporting and we have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies. We have indicated to the Auditors and the Audit committee: (i) significant changes in internal control over financial reporting during the year; significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having a significant role in the Banks internal control system over financial reporting.

ie.

nce efJeeere efjHeesefie mes mecye Deevleefjke efveev$eCeeW kee HetCe& oeefelJe mJeerkeej kejles nQ. nce en Yeer mJeerkeej kejles nQ efke nceves efJeeere efjHeesefie keer Devleefjke efveev$eCe HeCeeueer keer HeYeeJeMeeruelee kee cetueebkeve / Deekeueve efkeee nw leLee nceves uesKee Hejer#ekeeW Deewj uesKee meefceefle kees keesF& nw DeLeJee pees nceejs DeefYe%eeve ceW nQ SJeb nceves FvnW otj kejves kes efueS pees GHeee efkeS nQ ee HemleeefJele nw, keer peevekeejer os oer nw.

Ie.

nceves uesKee Hejer#ekeeW leLee uesKee Hejer#ee meefceefle kees efvecveefueefKele mes DeJeiele kejeee nw.
(i)

d.

Je<e& kes oewjeve efJeeere efjHeesefie kes meboYe& ceW Deevleefjke efveev$eCe JeJemLee ceW cenlJeHetCe& HeefjJele&ve
(ii)

(ii)

Je<e& kes oewjeve uesKee veerefleeeW ceW cenlJeHetCe& HeefjJele&ve leLee Fvekee GuuesKe efJeeere efJeefMeef<eeW kes veesdme / efHHeefCeeeW ceW kej efoee ieee nw. nceejer peevekeejer ceW DeeS OeesKeeOe[er mecyebOeer efJeefMe< ceeceues leLee GveceW HeyebOeve DeLeJee efkemeer kece&eejer keer mebefueHlelee efpemekeer efJeeere efjHeesefie Hej yeQke keer Deevleefjke efveev$eCe HeCeeueer ceW Dence Yetefcekee nes.

(iii)

(iii)

Sve.Deej.yeerveejeeCeve Sce.[er.ceuee ceneHeyebOeke DeOe#e SJeb HeyebOe efveosMeke (keeHeexjs Keeles, kejeOeeve SJeb DevegHeeueve DeefOekeejer - Yeejleere efj]peJe& yeQke) efoveebke : 26 ceF&, 2009 mLeeve : cegbyeF&

N.R.Badrinarayanan General Manager (Corporate Accounts, Taxation & Compliance Officer- RBI) Date : 26th May 2009 Place : Mumbai

M.D.Mallya Chairman and Managing Director

184

Heece& yeer

Hee@kemeer - Heece&
(MesejOeejke eje Yeje SJeb nmlee#ej efkeee peeS) efoveebke: 02 pegueeF&, 2009 [erHeer DeeF&[er e. Hebpeerke=le HeesefueDees / ieenke DeeF&[er e. ceQ/nce efpeuee jepe eer/eerceleer efveJeemeer jepe efveJeemeer jepe efpeuee kees DeLeJee Gvekeer DevegHeefmLeefle ceW eer/eerceleer efpeuee kees 02 pegueeF&, 2009 kees eele: 10.30 yepes ees. meer.meer. cesnlee Dee@ef[esefjece, pevejue SpegkesMeve meWj, Sce.Sme. yeQke Dee]@He ye[ewoe kee/kes MesejOeejke nesves kes veeles Sleodeje efveJeemeer

meeceeve yew"ke ceW cesjer/nceejer Deesj mes yew"ke ceW Yeeie uesves Deewj Jees osves kes efueS Hee@kemeer efveegkele kejlee/kejleer ntb/kejles nQ.

leejerKe ee@kemeer kes nmlee#ej veece

ceen

2009 kees nmlee#eefjle kee jmeeroer efke eneb ueieeeW eLece MesejOeejke / Skeue MesejOeejke kes nmlee#ej

Hee@kemeer Heece& Hej nmlee#ej kejves SJeb Hemlegle kejves mebyebOeer DevegosMe

efveMeeve Jeneb ueiee nw, lees Fmes veeeeOeerMe, cewefpem^s, jefpem^ej ee GHejefpem^ej Dee@He SMeesjsvmesme ee efkemeer Deve mejkeejer jepeHeef$ele DeefOekeejer ee yeQke Dee@He ye[ewoe kes efkemeer DeefOekeejer eje mee#eebefkele nesvee eeefnS. DeLee&led MeefveJeej, 27 petve, 2009 kees oesHenj 2:00 yepes leke yeQke Dee@He ye[ewoe, kesJeeF&meer SJeb SSceSue efJeYeeie, HeOeeve keeee&uee, Dee"Jeeb leue, metjpe Hueepee -1, meeepeeriebpe, Je[esoje 390 005 ceW yeQke keer keee& meceeefHle Hej ee Fmemes HetJe& pecee ve kejeee ieee nes. Fmekes meeLe Gme cegKleejveecee ee Deve HeeefOekeej (eefo keesF& nes) efpemekes lenle Fmes nmlee#eefjle efkeee ieee nes ee Gme cegKleejveecee keer Heefle ee HeeefOekeej keer Heefle efpemes veesjer Heefyueke ee cewefpem^s eje mele HeceeefCele efkeee ieee nes, kees pecee ve kejeee ieee nes, yeMelex efke 4. yeQke kes Heeme pecee keer ieF& Hee@kemeer keer efueKele DeHeefjJele&veere Deewj Debeflece nesieer.

8.

Hee@kemeer Heece& ceW efkees ieS meYeer HeefjJele&ve efve<Heeovekelee& eje eLeeefJeefOe Deeee#eefjle nesves eeefnS.

10. Hee@kemeer Heece&, cegKleejveecee DeLeJee Deve HeeefOekeej-He$e efvecveefueefKele Heles Hej pecee kejees pee mekeles nQ. yeQke Dee@He ye[ewoe, kesJeeF&meer SJeb SSceSue efJeYeeie, HeOeeve keeee&uee, Dee"Jeeb leue, metjpe Hueepee -1, meeepeeriebpe, Je[esoje 390 005
185

Form B

PROXY FORM
(To be filled in and signed by the Shareholder)

13th Annual General Meeting

Date: 02nd July 2009 DP.ID No. Regd.Folio No./Client ID No. I / We in the district of in the State of Shri/Smt. resident of in the State of resident of in the district of or failing him/her, Shri/Smt. in the district of being a shareholder / shareholders of Bank of Baroda, Vadodara hereby appoint resident of

in the state of as my/our proxy to vote for me/us and on my/our behalf at the 13th ANNUAL GENERAL MEETING of the Shareholders of BANK OF BARODA to be held on Thursday, 02nd July 2009, at 10.30 A.M. at Prof. C.C. Mehta General Education Auditorium, D.N.Hall Ground, M.S.University, Pratapganj, Vadodara 390 002 and at any adjournment thereof.

Signed this Signature of Proxy Name

(In Block Letters)

day of

2009 Please Affix Re 1/Revenue Stamp Signature of first named/sole Shareholder

Address

INSTRUCTIONS FOR SIGNING AND LODGING THE PROXY FORM 1. No instrument of proxy shall be valid unless: a. In the case of an individual shareholder, it is signed by him/her or by his/her attorney, duly authorized in writing. b. In the case of joint holders, it is signed by the shareholder first named in the Register or his/her attorney, duly authorized in writing. c. In the case of a body corporate, it is signed by its officer or an attorney duly authorized in writing. 2. An instrument of Proxy shall be sufficiently signed by any shareholder, who is, for any reason, unable to write his/her name, if his/her thumb impression is affixed thereto and attested by a judge, Magistrate, Registrar or Sub-Registrar of Assurance or other Government gazetted officer or an officer of Bank of Baroda. 3. No proxy shall be valid unless it is duly stamped and is deposited at the Head Office of the Bank not less than 4- days before the date of the meeting i.e. on or before the closing hours of the Bank at 2.00 p.m. on Saturday, 27th June, 2009 at Bank of Baroda, KYC & AML Department, 08th Floor, Suraj Plaza I, Sayajiganj, Vadodara 390 005, together with the power of attorney or other authority (if any) under which it is signed or a copy of that power of attorney or other authority certified as True Copy by a Notary Public or a Magistrate unless such a power of attorney or any other authority is previously deposited and registered with the Bank. 4. An instrument of proxy deposited with the Bank shall be irrevocable and final. 5. In the case of an instrument of proxy granted in favour of two grantees in the alternative, not more than one form shall be executed. 6. The shareholder who has executed an instrument of proxy shall not be entitled to vote in person at the meeting to which such instrument relates. 7. No person shall be appointed as duly authorized representative or a proxy who is an officer or an employee of the Bank. 8. All alterations in the Proxy Form should be duly initialed by the executant. 9. No instrument of proxy shall be valid unless it is in Form B. 10.The proxy form, power of attorney or other authority can also be deposited at the following address: BANK OF BARODA, KYC & AML Department, Head Office, 8th Floor, Suraj Plaza I, Sayajigunj, Vadodara - 390005

GHeefmLeefle Heeea

efoveebke mLeeve ees. meer.meer. cesnlee pevejue SpegkesMeve Dee@ef[esefjece, [er. Sve. ne@ue eeGb[, Sce.Sme. etefveJeefme&er, Je[esoje - 390 002 veece MesejeW keer mebKee [er.Heer.DeeF&.[er. HeesefueDees / ieenke DeeF&.[er.mebKee GHeefmLele MesejOeejke/ Hee@kemeer / HeefleefveefOe kes nmlee#ej

HeJesMe He$e
(yew"ke kes oewjeve DeHeves Heeme jKeW) HeesefueDees eceebke/[er.Heer.DeeF&.[er. ieenke DeeF&.[er. veece MesejeW keer mebKee

MesejOeejkeeW/Hee@kemeer DeLeJee MesejOeejkeeW kes HeefleefveefOe mes DevegjesOe nw efke Jes yew"ke ceW HeJesMe HeeHle kejves kes efueS yeQke ceW Hebpeerke=le vecetvee nmlee#ej pewmeer eLeeefJeefOe nmlee#eefjle Gkele GHeefmLeefle Heeea Deewj HeJesMeHe$e Ske meeLe Hemlegle kejW. leLeeefHe, HeJesMe, meleeHeve / peebe, pewmee DeeJeMeke mecePee peeSiee, kes DeOeerve nesiee. efkemeer

ATTENDANCE SLIP
13th Annual General Meeting , Thursday, 02nd July 2009 (Kindly bring it duly filled - in to avoid loss of time at Registration counter)

Date Place

Thursday, 02nd July 2009 Prof. C.C. Mehta General Education Auditorium, D.N.Hall Ground, M.S.University, Pratapganj, Vadodara 390 002

Name (In Bock Letters) No of Shares DP ID Folio No / Client ID No Signature of the Shareholder / Proxy / Representative present

ENTRY PASS
(To be retained throughout the meeting) DP ID No Folio /Client ID No Name (In Bock Letters) No. of Shares

Shareholders / proxy or representative of shareholders are requested to produce the above attendance slip, duly signed in accordance with their specimen signatures registered with the Bank, along with the entry pass, for admission to the venue. The admission will, however, be subject to verification / checks, as may be deemed necessary. Under no circumstances, any duplicate attendance slip will be issued at the entrance to the meeting.

efveJesMeke mesJeeSb efJeYeeie

Fueske^e@efveke meceeMeesOeve mesJee (pecee meceeMeesOeve)

3. 4.

MesejOeejke keer Heesefueees mebKee / ieenke DeeF&[er mebKee [er.Heer.DeeF&[er mebKee yeQke Keeles kee efJeJejCe ke. yeQke kee veece ie. Keelee mebKee (pewmee efke eske yegke ceW efoee ieee nw) (yeele yeQke Keelee/eeuet Keelee ee vekeo-$e+Ce) yeQke Keeles keer uespej Heesefueees mebKee yeQke eje peejer ceeFkej eske ceW efoee ieee yeQke Deewj MeeKee keer 9 Debkeere kees[ meb.

: : : : eeuet vekeo GOeej

[. e.

: : :

j efkeee ieee eske mebueive kejW Iees<eCee

mLeeve : efoveebke : mLeeve : efoveebke :

eLece Oeejke kes nmlee#ej

mebyebefOele yeQke kes eyebOeke kes nmlee#ej

HeesefueDees mebKee ..........................

yeQke Dee@]He ye[ewoe

[er.Heer.DeeF&[er mebKee .....................

yeQke Keelee efJeJejCe

ieenke DeeF&[er mebKee ..................... Oeeefjle MesejeW keer mebKee ..................

ceQ /nce........................................................................................................................................................

yeQke kee veece : ................................................................ MeeKee kee veece : ........................................... eeuet Keelee mebKee : ............................................ meome kes nmlee#ej............................................ vekeo $e+Ce

veiej, ceeOeeHegj, nwojeyeeo - 500 081 ee yeQke Dee@He] ye[ewoe, efveJesMeke mesJeeSb efJeYeeie, HeLece leue, ye[ewoe keeHeexjs mesvj, meer-26, peer-yuee@ke, yeeve keguee& kee@cHueskeme, yeeve (HetJe&), cegbyeF& - 400 051 kes Heles Hej YespeW.

BANK OF BARODA
Electronic Clearing Service (Credit Clearing) ECS Mandate for Payment of Dividend on Equity Shares

1. 2. 3. 4.

5.

First Shareholders Name (in Block Letters) Address Shareholders Folio number/ Client ID number D. P. ID number Particulars of Bank Account A. Bank Name B. Branch Name & City Pin Code C. Account No. (as appearing on the cheque book) D. Account Type (please Tick) : (SB Account / Current A/c. or Cash Credit A/c) SB Current Cash Credit E. Ledger Folio number of Bank Account (if appearing on the cheque book) F. 9 Digit Code No. of the Bank & Branch appearing on the MICR Cheque issued by the Bank Please attach a photocopy of a cheque leaf or a blank cancelled cheque issued by your Bank relating to your above account for verifying the accuracy of the code numbers.

: : : : : : : : SB Current Cash Credit

DECLARATION I, hereby declare that the particulars given above are correct and complete. If the transaction is delayed or not effected at all for reasons of incomplete information, I would not hold Bank of Baroda responsible. Place: Date: Certified that the particulars furnished above are correct as per our records. Place: Date

Signature of the First Holder

Signature of the Manager of the Bank concerned

BANK OF BARODA
BANK ACCOUNT PARTICULARS

D.P.ID No ............................................................ Client ID No./ Folio No ................................................. Number of shares held .......................................

I / We .............................................................................................................................................................................................. do hereby authorize Bank of Baroda to print the following details on my/ our Dividend Warrant. Bank Name : . Branch Name: . Account type (please tick) : SB Current Cash Credit

Account Number : .. Signature of the Member Note: Please complete the form, sign and mail at the address of Registrar and Transfer Agent (RTA), i.e. M/s Karvy Computershare Pvt. Ltd, Plot No. 17-24, Vittalrao Nagar, Madhapur, Hyderabad - 500 081 OR at Bank of Baroda, Investors Services Deptt. 1st Floor, Baroda Corporate Centre, C-26, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051.

eeoieej #eCe

Memorable Moments

meguleeveHegj ceW Deeeesepele ceefnuee meMeefkelekejCe efHeeoefMe&veer Heefjeespevee kee MegYeejbYe kejleer f ngF et.Heer.S. SJeb keebieme DeOe#ee eerceleer meeseveee ieebOeer. cebe Hej efoKeeF& os jns nQ jeeyejsueer s f kes meebmeo eer jengue ieebOeer, keee&keejer efveosMeke, eer Deej kes ye#eer SJeb Deve.

Bank's Gungzhou Branch in China was inaugurated by Shri Pawan Kumar Bansal, Hon'ble Minister of State for Finance, Govt. of India in the presence of CMD Shri M.D. Mallya.

Bank's 101st Foundation Day was organized at NCPA, Mumbai. The Chief Guest H.E. Shri S.C. Jamir, Governor of Maharashtra inaugurated the function and awarded "The Baroda Sun Lifetime Achievement Awards" to five eminent personalities. One of the awardees is seen receiving the award. Bank's CMD and EDs look on.

On the occasion of 101st Foundation Day, a human chain was formed at Marine Drive, Mumbai wherein CMD, EDs, Directors, Top Executives and thousands of staff members took part with full enthusiasm.