INDIA
SCHEDULES TO FINANCIAL STATEMENTS AS AT 31 MARCH 2014
Currency: Indian rupees in thousands
45. Contingent Liabilities Continued
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 fulill its inancial 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 amount payable against bills re-discounted, 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.
46. Disclosure under Micro, Small Medium Enterprises Development Act, 2006
The Bank has a policy of payment to its vendors based on the agreed credit terms. Consequently, as per Bank’s policy there have been no reported cases of delays in payments in excess of 45 days to Micro, Small and Medium Enterprises or of interest payments
due to delays in such payments, during the year ended 31 March 2014 Previous Year: INR Nil.
47. Movement in provisions
Disclosure of movement in provisions in accordance with AS 29 is set out below:
Particulars 31 Mar 14
31 Mar 13
Opening balance at the beginning of the year 223,316
78,842 Add : Provision made during the year
85,695 223,316
Less : Utilisation, write back of excess provisions during the year 158,099
78,842 Closing balance at the end of the year
150,912 223,316
Note: Provision represents fraud, operating losses, bonus and potential claimsdemand.
48. Technical Write-Offs
In terms of RBI Circular DBOD.BP.BC.No.98 21.04.132 2013-14 dated 26 February 2014, the details of technical write-offs and the recoveries made thereon during the year are as under:
Particulars 31 Mar 14
31 Mar 13
Opening balance of Technical Prudential written-off accounts Nil
Nil Add: Technical Prudential write-offs during the year
Nil Nil
Sub-total A Nil
Nil Less: Recoveries made from previously technical prudential written-off
accounts during the year B Nil
Nil Closing balance as at March 31 A-B
Nil Nil
49. Other Disclosures
