ICICI Bank

1.  Related party transactions
 
 The Bank has transactions with its related parties comprising of
 subsidiaries, associates/joint ventures/other related entities and key
 management personnel.
 
 Subsidiaries
 
 ICICI Venture Funds Management Company Limited, ICICI Securities
 Primary Dealership Limited, ICICI Securities Limited, ICICI
 International Limited, ICICI Trusteeship Services Limited, ICICI Home
 Finance Company Limited, ICICI Investment Management Company Limited,
 ICICI Securities Holdings Inc., ICICI Securities Inc., ICICI Bank UK
 PLC, ICICI Bank Canada, ICICI Prudential Life Insurance Company
 Limited1, ICICI Lombard General Insurance Company Limited1, ICICI
 Prudential Asset Management Company Limited1, ICICI Prudential Trust
 Limited1, ICICI Bank Eurasia Limited Liability Company and ICICI Wealth
 Management Inc.  1.  Jointly controlled entities.
 
 Associates/Joint Ventures/other related entities
 
 ICICI Equity Fund1, ICICI Eco-net Internet and Technology Fund1, ICICI
 Emerging Sectors Fund1, ICICI Strategic Investments Fund1, ICICI Kinfra
 Limited1, ICICI West Bengal Infrastructure Development Corporation
 Limited1, Financial Information Network and Operations Limited,
 TCW/ICICI Investment Partners LLC, TSI Ventures (India) Private Limited
 (upto June 30, 2008), l-Process Services (India) Private Limited,
 l-Solutions Providers (India) Private Limited, NUT Institute of
 Finance, Banking and Insurance Training Limited, ICICI Venture Value
 Fund, Comm Trade Services Limited, Loyalty Solutions & Research
 Limited1, Traveljini.com Limited (upto March 31, 2008),
 Contests2win.com India Private Limited2, Crossdomain Solutions Private
 Limited2, Transafe Services Limited2, Prize Petroleum Company Limited2,
 ICICI Foundation for Inclusive Growth2, Firstsource Solutions Limited
 (Banks holding is 24.79% as on March 21, 2009) and l-Ven Biotech
 Limited1.2.
 
 1.  Entities consolidated under Accounting Standard-21 (AS-21) on
 Consolidated Financial Statements.
 
 2.  With respect to entities, which have been identified as related
 parties during the year ended March 31, 2009, previous years
 comparative figures have not been reported.
 
 Key management personnel
 
 K. V. Kamath, Chanda D. Kochhar, V. Vaidyanathan, Madhabi Puri Buch1,
 Sonjoy Chatterjee2, K. Ramkumar3, Kalpana Morparia4, Nachiket Mor5.
 
 Relatives of key management personnel
 
 Rajalakshmi Kamath, Ajay Kamath, Ajnya Pai, Mohan Kamath, Deepak
 Kochhar, Arjun Kochhar, Aarti Kochhar, Mahesh Advani, Varuna Kama,
 Sunita R. Advani, Jeyashree V., V. Satyamurthy, V. Krishnamurthy, K.
 Vembu, Dhaval Buch1, Kamal Puri1, Rama Puri1, Ameeta Chatterjee2,
 Somnath Chatterjee2, Tarak Nath Chatterjee2, R. Shyam3, R. Suchithra3,
 J. Krishnaswamy3.
 
 1.  Transactions reported with effect from June 1, 2007 and upto
 January 31, 2009.
 
 2.  Transactions reported with effect from October 22, 2007.
 
 3.  Transactions reported with effect from February 1, 2009.
 
 4.  Transactions reported upto May 31, 2007.
 
 5.  Transactions reported upto October 18, 2007.
 
 The following are the significant transactions between the Bank and its
 related parties for the year ended March 31, 2009.  The material
 transactions are reported wherever the transaction with an entity
 exceeds 10% of the particular category of transactions.
 
 Insurance services
 
 During the year ended March 31, 2009, the Bank paid insurance premium
 to insurance subsidiaries amounting to Rs. 1,132.6 million (March 31,
 2008 : Rs. 1,065.3 million). The material transactions for the year
 ended March 31, 2009 were with ICICI Lombard General Insurance Company
 Limited for Rs. 1,039.9 million (March 31, 2008: Rs. 974.8 million).
 During the year ended March 31, 2009, the Bank received claims from
 insurance subsidiaries amounting to Rs. 965.1 million (March 31, 2008:
 Rs. 713.9 million). The material transactions for the year ended March
 31, 2009 were with ICICI Lombard General Insurance Company Limited for
 Rs. 924.1 million (March 31, 2008: Rs. 688.9 million).
 
 Fees and commission
 
 During the year ended March 31, 2009, the Bank received fees from its
 subsidiaries amounting to Rs. 3,704.8 million (March 31, 2008: Rs.
 5,748.7 million), from its associates/joint ventures/other related
 entities amounting to Rs. 142.1 million (March 31, 2008: Rs. 72.5
 million) and from key management personnel amounting to Rs. 0.6
 million. The material transactions for the year ended March 31, 2009
 were with ICICI Securities Limited for Rs. 454.8 million (March 31,
 2008: Rs. 903.7 million), ICICI Prudential Life Insurance Company
 Limited for Rs. 2,385.3 million (March 31, 2008: Rs. 3,033.1 million)
 and ICICI Lombard General Insurance Company Limited for Rs. 625.6
 million (March 31, 2008: Rs. 948.2 million).
 
 During the year ended March 31, 2009, the Bank received commission from
 its subsidiaries of Rs. 9.0 million (March 31, 2008: Rs. 9.3 million)
 and from its associates/joint ventures/other related entities amounting
 to Rs. 7.5 million (March 31, 2008: Rs. 7.4 million). The material
 transactions for the year ended March 31, 2009 were with ICICI Home
 Finance Company Limited for Rs. 7.8 million (March 31, 2008: Rs. 7.8
 million) and Firstsource Solutions Limited for Rs. 7.2 million (March
 31, 2008: Rs. 7.4 million).
 
 Lease of premises and facilities
 
 During the year ended March 31, 2009, the Bank received income from its
 subsidiaries amounting to Rs. 1,670.5 million (March 31, 2008: Rs.
 982.8 million) and from its associates/joint ventures/other related
 entities amounting to Rs. 7.0 million (March 31, 2008: Rs. 3.9 million)
 for lease of premises, facilities and other administrative costs. The
 material transactions for the year ended March 31, 2009 were with ICICI
 Securities Limited for Rs. 361.5 million (March 31, 2008: Rs. 266.9
 million), ICICI Home Finance Company Limited for Rs. 344.2 million
 (March 31, 2008: Rs. 3.1 million), ICICI Bank UK PLC for Rs. 431.6
 million (March 31, 2008: Rs. 254.9 million), ICICI Bank Canada for Rs.
 137.1 million (March 31, 2008: Rs. 102.6 million), ICICI Prudential
 Life Insurance Company Limited for Rs. 164.0 million (March 31, 2008:
 Rs. 102.5 million) and ICICI Lombard General Insurance Company Limited
 for Rs. 202.4 million (March 31, 2008: Rs. 186.8 million).
 
 Sale of housing loan portfolio
 
 During the year ended March 31, 2009, the Bank sold housing loan
 portfolio to ICICI Home Finance Company Limited amounting to Rs. Nil
 (March 31, 2008: Rs. 6,231.4 million).
 
 Secondment of employees
 
 During the year ended March 31, 2009, the Bank received compensation
 from its subsidiaries amounting to Rs. 277.1 million (March 31, 2008:
 Rs. 302.8 million) and from its associates/joint ventures/other related
 entities amounting to Rs.  16.8 million {March 31, 2008: Rs. 12.7
 million) for secondment of employees. The material transactions for the
 year ended March 31, 2009 were with ICICI Securities Limited for Rs.
 53.4 million (March 31, 2008: Rs. 91.5 million) and ICICI Home Finance
 Company Limited for Rs. 217.2 million (March 31, 2008: Rs. 190.5
 million).
 
 Purchase of investments
 
 During the year ended March 31, 2009, the Bank purchased certain
 investments from its subsidiaries amounting to Rs.  15,170.3 million
 (March 31, 2008: Rs. 7,934.2 million). The material transactions for
 the year ended March 31, 2009 were with ICICI Securities Primary
 Dealership Limited for Rs. 6,695.0 (March 31, 2008: Rs. 7,636.3
 million) and ICICI Prudential Life Insurance Company Limited for Rs.
 7,922.9 million (March 31, 2008: Rs. 146.2 million).
 
 During the year ended March 31, 2009, the Bank invested in the equity
 shares, preference shares and bonds of its subsidiaries amounting to
 Rs. 41,755.0 million (March 31, 2008: Rs. 43,009.2 million) and in its
 associates/joint ventures/other related entities amounting to Rs. Nil
 (March 31,2008: Rs. 57.5 million). The material transactions for the
 year ended March 31, 2009 were with ICICI Home Finance Company Limited
 for Rs. 3,000.0 million (March 31, 2008: Rs. 5,000.0 million), ICICI
 Bank UK PLC for Rs. 4,696.5 million (March 31, 2008 : Rs. 12,404.9
 million), ICICI Bank Canada for Rs. 22,188.3 million (March 31, 2008:
 Rs. 10,414.9 million) and ICICI Prudential Life Insurance Company
 Limited for Rs. 8,081.6 million (March 31, 2008: Rs. 12,580.0 million).
 
 Sale of investments
 
 During the year ended March 31, 2009, the Bank sold certain investments
 to its subsidiaries amounting to Rs. 13,854.6 million (March 31, 2008:
 Rs. 15,526.7 million). The material transactions for the year ended
 March 31, 2009 were with ICICI Securities Primary Dealership Limited
 for Rs. 5,103.5 million (March 31, 2008: Rs. 11,705.0 million), ICICI
 Bank UK PLC for Rs. 1,836.0 million (March 31, 2008: Rs. Nil) and ICICI
 Prudential Life Insurance Company Limited for Rs. 6,364.8 million
 (March 31, 2008 : Rs. 3,223.2 million).
 
 Redemption/buyback and conversion of investments
 
 During the year ended March 31, 2009, the Bank received Rs. 583.5
 million (March 31, 2008: Rs. 1.2 million) on account of buyback of
 equity shares by subsidiaries and Rs. 183.5 million (March 31, 2008:
 Rs. 2,762.4 million) on account of buyback/ redemption of equity
 shares/units by associates/joint ventures/other related entities. The
 material transactions for the year ended March 31, 2009 were with ICICI
 Securities Primary Dealership Limited for Rs. 583.5 million (March 31,
 2008: Rs. 1.2 million), ICICI Equity Fund for Rs. 125.0 million (March
 31, 2008: Rs. 571.5 million), ICICI Emerging Sectors Fund for Rs. Nil
 (March 31, 2008: Rs. 2,070.3 million) and Crossdomain Solutions Private
 Limited for Rs. 58.5 million.
 
 Reimbursement of expenses
 
 During the year ended March 31, 2009, the Bank reimbursed expenses to
 ICICI Home Finance Company Limited amounting to Rs. 60.8 million (March
 31, 2008: Rs. 526.8 million) and to its associates/joint ventures/other
 related entities amounting to Rs. Nil (March 31, 2008: Rs. 0.8
 million).
 
 Brokerage and fee expenses
 
 During the year ended March 31, 2009, the Bank paid brokerage/fees to
 its subsidiaries amounting to Rs. 627.0 million (March 31, 2008: Rs.
 950.7 million) and to its associates/joint ventures/other related
 entities amounting to Rs. 2,151.2 million (March 31, 2008: Rs. 2,354.7
 million). The material transactions for the year ended March 31, 2009
 were with ICICI Home Finance Company Limited for Rs. 438.7 million
 (March 31, 2008: Rs. 621.3 million), Loyalty Solutions & Research
 Limited for Rs. 673.6 million (March 31, 2008: Rs. 23.3 million),
 l-Process Services (India) Private Limited for Rs.  1,027.5 million
 (March 31, 2008: Rs. 1,029.0 million) and l-Solutions Providers (India)
 Private Limited for Rs. 227.2 million (March 31, 2008: Rs. 932.1
 million).
 
 Custodial charges income
 
 During the year ended March 31, 2009, the Bank received custodial
 charges from its subsidiaries amounting to Rs. 11.4 million (March 31,
 2008: Rs. 16.3 million) and from its associates/joint ventures/other
 related entities amounting to Rs. 3.3 million (March 31, 2008: Rs. 6.8
 million). The material transactions for the year ended March 31, 2009
 were with ICICI Securities Primary Dealership Limited for Rs. 7.6
 million (March 31, 2008: Rs. 12.1 million), ICICI Lombard General
 Insurance Company Limited for Rs. 3.8 million (March 31, 2008: Rs. 4.0
 million) and ICICI Emerging Sectors Fund for Rs. 1.0 million (March 31,
 2008: Rs. 3.1 million).
 
 Interest expenses
 
 During the year ended March 31, 2009, the Bank paid interest to its
 subsidiaries amounting to Rs. 1,592.6 million (March 31, 2008: Rs.
 3,311.9 million) to its associates/joint ventures/other related
 entities amounting to Rs. 21.8 million (March 31, 2008: Rs. 28.2
 million) to its key management personnel amounting to Rs. 2.3 million
 and to relatives of key management personnel amounting to Rs. 1.3
 million. The material transactions for the year ended March 31, 2009
 were with ICICI Securities Limited for Rs. 171.4 million (March 31,
 2008: Rs. 72.1 million), ICICI Bank UK PLC for Rs. 98.9 million (March
 31, 2008: Rs. 1,804.5 million), ICICI Bank Canada for Rs. 660.1 million
 (March 31, 2008: Rs. 834.2 million) and ICICI Prudential Life Insurance
 Company Limited for Rs. 427.7 million (March 31, 2008: Rs. 348.6
 million).
 
 Interest income
 
 During the year ended March 31, 2009, the Bank received interest from
 its subsidiaries amounting to Rs. 9,006.7 million (March 31, 2008: Rs.
 1,575.3 million), from its associates/joint ventures/other related
 entities amounting to Rs. 5.3 million (March 31, 2008: Rs. 21.0
 million), from its key management personnel Rs. 2.3 million (March 31,
 2008: Rs. 0.7 million) and from relatives of key management personnel
 amounting to Rs. 0.3 million. The material transactions for the year
 ended March 31, 2009 were with ICICI Securities Primary Dealership
 Limited for Rs. 1,544.8 million (March 31, 2008: Rs. 342.8 million),
 ICICI Home Finance Company Limited for Rs. 522.8 million (March 31,
 2008: Rs. 273.0 million), ICICI Bank Eurasia Limited Liability Company
 for Rs. 547.1 million (March 31, 2008: Rs. 611.9 million), ICICI Bank
 UK PLC for Rs. 1,443.8 million (March 31, 2008: Rs. 105.3 million) and
 ICICI Bank Canada for Rs. 4,834.7 million (March 31, 2008: Rs. 86.2
 million).
 
 Other income
 
 During the year ended March 31, 2009, the net gain/(loss) on derivative
 transactions entered into with subsidiaries amounted to Rs. 9,239.3
 million (March 31, 2008: net gain of Rs. 4,398.0 million) and with its
 associates/joint ventures/other related entities amounted to Rs. 9.9
 million (March 31, 2008: Rs. Nil). The material transactions for the
 year ended March 31, 2009 were with ICICI Bank UK PLC for Rs. 1,175.3
 million (March 31, 2008: Rs. 4,677.0 million) and ICICI Bank Canada for
 Rs. 7,861.4 million (March 31, 2008: Rs. 401.5 million).
 
 Dividend income
 
 During the year ended March 31, 2009, the Bank received dividend from
 its subsidiaries amounting to Rs. 3,348.2 million (March 31, 2008: Rs.
 3,636.6 million) and from its associates/joint ventures/other related
 entities amounting to Rs. Nil (March 31, 2008: Rs. 8,931.4 million).
 The material transactions for the year ended March 31, 2009 were with
 ICICI Securities Primary Dealership Limited for Rs. 1,300.5 million
 (March 31, 2008: Rs. 729.5 million), ICICI Venture Funds Management
 Company Limited for Rs. 950.0 million (March 31, 2008: Rs. 725.0
 million), ICICI Home Finance Company Limited for Rs. 740.6 million
 (March 31, 2008: Rs. 431.3 million) and ICICI Emerging Sectors Fund for
 Rs. Nil (March 31, 2008: Rs. 7,725.7 million).
 
 Dividend paid
 
 During the year ended March 31, 2009, the Bank paid dividend to its key
 management personnel amounting to Rs. 10.2 million (March 31, 2008: Rs.
 15.0 million). The material transactions for the year ended March 31,
 2009 were with K. V.  Kamath for Rs. 5.4 million (March 31, 2008: Rs.
 6.2 million), Chanda D. Kochhar for Rs. 3.0 million (March 31, 2008:
 Rs. 2.8 million), Madhabi Puri Buch for Rs. 1.1 million (March 31,
 2008: Rs. 1.2 million) and Kalpana Morparia for Rs. Nil (March 31,
 2008: Rs. 4.3 million).
 
 Remuneration to whole-time directors
 
 During the year ended March 31, 2009, the Bank paid remuneration to the
 whole-time directors of the Bank amounting to Rs. 91.7 million (March
 31, 2008: Rs. 90.3 million). The material transactions for the year
 ended March 31, 2009 were with K. V. Kamath for Rs. 30.8 million (March
 31, 2008: Rs. 27.9 million), Madhabi Puri Buch for Rs. 13.5 million
 (March 31, 2008: Rs. 10.0 million), Chanda D. Kochhar for Rs. 18.4
 million (March 31, 2008: Rs. 15.6 million), Kalpana Morparia for Rs.
 Nil (March 31, 2008: Rs. 9.7 million), Nachiket Mor for Rs. Nil (March
 31, 2008: Rs. 10.0 million), V. Vaidyanathan for Rs. 14.4 million
 (March 31, 2008: Rs. 13.4 million) and Sonjoy Chatterjee for Rs. 13.0
 million (March 31, 2008: Rs. 3.7 million).
 
 Lines of credit
 
 As on March 31, 2009, the Bank had issued lines of credit to its
 subsidiaries amounting to Rs. 1,601.5 million (March 31, 2008: Rs.
 1,003.0 million). The material transactions for the year ended March
 31, 2009 were with ICICI Securities Limited for Rs. 333.5 million
 (March 31, 2008: Rs. Nil) and ICICI Bank Canada for Rs. 1,268.0 million
 (March 31, 2008: Rs. 1,003.0 million).
 
 Sale of fixed assets
 
 During the year ended March 31, 2009, the Bank sold fixed assets to its
 subsidiaries amounting to Rs. 65.3 million (March 31, 2008: Rs. 151.8
 million). The material transactions for the year ended March 31, 2009
 were with ICICI Home Finance Company Limited for Rs. 58.3 million
 (March 31, 2008: Rs. Nil), ICICI Securities Limited for Rs. 5.9 million
 (March 31, 2008: Rs. 99.3 million), ICICI Prudential Life Insurance
 Company Limited for Rs. 1.1 million (March 31, 2008: Rs. 24.2 million)
 and ICICI Lombard General Insurance Company Limited for Rs. Nil (March
 31, 2008: Rs. 28.3 million).
 
 Purchase of fixed assets
 
 During the year ended March 31, 2009, the Bank purchased fixed assets
 from its subsidiaries amounting to Rs. 1.2 million (March 31, 2008: Rs.
 Nil) and from its associates/joint ventures/other related entities
 amounting to Rs. 13.0 million (March 31, 2008: Rs. Nil). The material
 transactions for the year ended March 31, 2009 were with Financial
 Information Network and Operations Limited for Rs. 12.4 million (March
 31, 2008: Rs. Nil).
 
 Donation
 
 During the year ended March 31, 2009, the Bank has given donation to
 ICICI Foundation for Inclusive Growth amounting to Rs. 300.0 million.
 
 2.  Preference shares
 
 Certain government securities amounting to Rs. 2,356.6 million (March
 31, 2008: Rs. 2,331.8 million) have been earmarked against redemption
 of preference share capital, which falls due for redemption on April
 20, 2018, as per the original issue terms.
 
 3.  Details of Single Borrower Limit (SBL), Group Borrower Limit
 (GBL) exceeded by the Bank
 
 During the year ended March 31, 2009, the Bank had no exposure to any
 single borrower and group borrower, which exceeded the prudential
 exposure limits prescribed by RBI.
 
 4.  Risk category-wise country-wise exposure
 
 As per the extant RBI guidelines, the country exposure of the Bank is
 categorised into various risk categories listed in the following table.
 The funded country exposure (net) of the Bank in respect of United
 Kingdom is 1.22%, United States of America is 1.34% and Canada is 1.05%
 of the total funded assets as on March 31, 2009 (as on March 31, 2008:
 United Kingdom was 1.81 %, United States of America was 1.57% and
 Canada was 0.43%). As the net funded exposure to United Kingdom, United
 States of America and Canada exceeds 1% of total funded assets, the
 Bank has made a provision of Rs. 285.0 million on country exposure as
 on March 31, 2009 (Provision as on March 31, 2008: Rs. 245.0 million).
 
 5.  Provisions on standard assets
 
 The Bank makes provision on standard assets as per RBI guidelines.
 During the period ended September 30, 2008, the Bank made proportionate
 additional provision on interest rate and foreign exchange derivative
 transaction and gold, as applicable to loan assets in the standard
 category, in line with RBI circular DBOD. No. BP. 31/21.04.157/2008-09
 dated August 8, 2008.  The Bank has also adopted the revised rates for
 making provision on standard assets during the year ended March 31,
 2009, in accordance with RBI circular no.
 DBOD.BP.BC.83/21.01.002/2008-09 dated November 15, 2008.  The Bank has
 written back Rs. 190.0-million during the year ended March 31, 2009 as
 compared to incremental provision of Rs. 1,590.0 million made during
 the year ended March 31, 2008. The Bank has not written back any
 standard asset provision post the aforementioned RBI circular dated
 November 15, 2008. The provision on standard assets held by the Bank at
 March 31, 2009 was Rs. 14,360.6 million (March 31, 2008: Rs. 14,550.3
 million).
 
 6.  Early Retirement Option (ERO)
 
 The Bank had implemented an Early Retirement Option Scheme 2003 for its
 employees in July 2003. All employees who had completed 40 years of age
 and seven years of service with the Bank (including period of service
 with entities amalgamated with the Bank) were eligible for the ERO.
 
 The ex-gratia payments under ERO, terminations benefits and leave
 encashment in excess of the provision made (net of tax benefits),
 aggregating to Rs. 1,910.0 million has been amortised over a period of
 five years commencing August 1, 2003 (the date of retirement of
 employees exercising the Option being July 31, 2003).
 
 On account of the above ERO scheme, an amount of Rs. 118.0 million
 (March 31, 2008: Rs. 384.0 million) has been charged to revenue being
 the balance of proportionate amount fully amortised during the year
 ended March 31, 2009.
 
 7.  Provision for income tax
 
 The provision for income tax (including deferred tax and fringe benefit
 tax) for the year ended March 31 2009 amounted to Rs. 13,558.4 million
 (March 31, 2008: Rs. 8,953.7 million).
 
 The Bank has a comprehensive system of maintenance of information and
 documents required by transfer pricing legislation under section 92-92F
 of the Income Tax Act, 1961. The Bank is of the opinion that all
 international transactions are at arms length so that the above
 legislation will not have material impact on the financial statements.
 
 8.  Dividend distribution tax
 
 For the purpose of computation of dividend distribution tax on the
 proposed dividend, the Bank has reduced the dividend distribution tax
 on dividend received from its Indian subsidiaries as per the amendment
 to section 115-0 of the Income Tax Act, 1961 vide Finance Bill, 2008,
 read with Section 294 of the Income Tax Act, 1961.
 
 9.  Derivatives
 
 ICICI Bank is a major participant in the financial derivatives market.
 The Bank deals in derivatives for balance sheet management and market
 making purposes whereby the Bank offers derivative products to its
 customers, enabling them to hedge their risks.
 
 Dealing in derivatives is carried out by identified groups in the
 treasury of the Bank based on the purpose of the transaction.
 Derivative transactions are entered into by the treasury front office.
 Treasury middle office conducts an independent check of the
 transactions entered into by the front office and also undertakes
 activities such as confirmation, settlement, accounting, risk
 monitoring and reporting and ensures compliance with various internal
 and regulatory guidelines.  The market making and the proprietary
 trading activities in derivatives are governed by the investment policy
 of the Bank which lays down the position limits, stop loss limits as
 well as other risk limits. The Risk Management Group (RMG)
 
 10.  Penalties/fines imposed by RBI and other banking regulatory bodies
 
 There were no penalties imposed by RBI during the year ended March 31,
 2009 (March 31, 2008: Rs. Nil).
 
 Central Bank of Sri Lanka (CBSL) has imposed penalty of LKR 865 (Rs.
 400) during the year ended March 31, 2009, on Sri Lanka Branch for
 breach on the maintenance of the Statutory Reserve Requirement (SRR).
 
 11.  Small and micro industries
 
 Under the Micro, Small and Medium Enterprises Development Act, 2006
 which came into force from October 2, 2006, certain disclosures are
 required to be made relating to Micro, Small and Medium enterprises.
 There have been no reported cases of delays in payments to micro and
 small enterprises or of interest payments due to delays in such
 payments.
 
 12.  Farm loan waiver
 
 The Ministry of Finance, Government of India has issued guidelines for
 the implementation of the Agriculture debt waiver and relief scheme for
 farmers on May 23, 2008. The Bank has implemented the scheme as per
 guidelines issued by RBI vide circular no. DBOD No.
 BP.BC.26/21.04.048/2008-09 dated July 30, 2008 on Agricultural Debt
 Waiver and Debt Relief Scheme, 2008- Prudential norms on income
 recognition, asset classification and provisioning and Capital
 Adequacy.
 
 Pursuant to the scheme an aggregate amount of Rs. 2,666.7 million has
 been waived which is recoverable from Government of India. Of the
 above, an amount of Rs. 773.0 million has been received by March 31,
 2009 and balance of Rs. 1,893.7 million is receivable in future.
 
 13.  Comparative figures
 
 Figures for the previous year have been regrouped wherever necessary,
 to conform to the current years presentation.