54
SCHEDULES TO FINANCIAL STATEMENTS
for the year ended 31 March 2012
b Chairman Recognition award – Eligible employees of the Bank are awarded ordinary shares of the DBS Bank Ltd., Singapore for their excellent performance during the year. Shares awarded vest in a graded manner whereby thirty-
three percent of the shares will vest two years after the date of grant, a further thirty-three percent of the shares comprised in the main award will vest three years after the date of grant and the remainder thirty-four percent of the
shares will vest four years after the date of grant. A reconciliation of employee share based payment movements in no. of shares during the year ended 31 March 2012
is shown below:
Restricted Share Plan Chairman’s Recognition Award
No. of Shares 2009
2010 2011
2012 2009
2010 2011
2012
Outstanding as at 1 April 2011
40,616 97,978 97,397 - 2,325 16,450 32,100
- Granted
- -
- 66,747 -
- - 51,400
Additional shares for rights issue
- -
- -
- -
- -
Vested 40,426 25,979
- - 2,025 5,095
- -
Lapsed 190 3,492
335 -
300 1,000 3,050 400
No. of unvested shares as at 31 March
2012 - 68,507 97,062 66,747
- 10,355 29,050 51,000
The weighted average fair value of shares awarded as shown above were in the range of SGD 8.05 – SGD 14.48. The charge to Profit and Loss Account for the year ended 31 March 2012 was ` 129,635 thousands
Previous Year: ` 62,048 thousands. Liability on account of share based payment as at 31 March 2012 is ` 52,285 thousands
Previous Year: ` 21,497 thousands.
44. COMPLAINTS
In terms of RBI Circular DBOD.BP.BC.No.1621.04.0182011-12 dated 01 July 2011; the details of customer complaints and ombudsman awards during the year are as under:
Particulars 31 Mar 2012
31 Mar 2011 No. of complaints pending at the beginning of the year
1
No. of complaints received during the year 140
62 No. of complaints redressed during the year
137 61
No. of complaints pending at the end of the year 4
1
Particulars 31 Mar 12
31 Mar 11 No. of unimplemented awards at the beginning of the year
- -
No. of awards passed by the Banking Ombudsmen during the year -
- No. of awards implemented during the year
- -
No. of unimplemented awards at the end of the year -
- 45. IMPAIRMENT OF ASSETS
There is no impairment of assets and as such there is no provision required in terms of Accounting Standard 28 ‘Impairment of Assets’.
DBS Bank Ltd., India Annual Report 2011-12 55
SCHEDULES TO FINANCIAL STATEMENTS
for the year ended 31 March 2012
46. CONTINGENT LIABILITIES
a Liability on account of forward exchange contractsLiability on account of outstanding Currency and Interest Rate
Swap and Option contracts The Bank enters into foreign exchange contracts, currency optionsswaps, interest rate optionsswaps and forward rate
agreements on its own account and for customers. Forward exchange contracts are commitments to buy or sell foreign currency at a future date at the contracted rate. Currency swaps are commitments to exchange cash flows by way of
interestprincipal in two currencies, based on predetermined rates. Interest rate swaps are commitments to exchange fixed and floating interest rate cash flows. Forward Rate Agreements are agreements to pay or receive
a certain sum based on a differential interest rate on a notional amount for an agreed period. A foreign currency option is an agreement between two parties in which one grants to the other the right, but not the obligation, to buy
or sell a specified amount of currency at a specific price within a specified time period or at a specified future time. The notional principal amounts of foreign exchange and derivatives contracts have been recorded as contingent liabilities.
b Guarantees given on behalf of constituents As a part of its banking activities, the Bank issues guarantees on behalf of its customers. Generally, guarantees
represent irrevocable assurances that the Bank will make payments in the event of the customer failing to fulfill its financial or performance obligations.
c Acceptances, endorsements and other obligations
These include documentary credits issued by the Bank on behalf of its customers and bills drawn by the Bank’s customers that are accepted or endorsed by the Bank.
d Other items for which the bank is contingently liable Other items represent estimated amount of contracts remaining to be executed on capital account and value of
investment traded on or before the Balance Sheet date with a settlement post Balance Sheet date.
47. DISCLOSURE UNDER MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006
