1.1 Balancing of books and reconciliation
 
 The Bank has completed its inter branch reconciliation. The reconciling
 items have been identified and elimination of reconciling items is in
 progress. Appropriate adjustments have been incorporated in the
 financial statements for the purpose of presentation.
 
 Routine matching of select general ledger control account balances with
 subsidiary ledgers is in progress at few branches and is expected to be
 completed in due course with no material financial statement impact as
 on 31 March 2011.
 
 1.2 Employee stock option scheme
 
 ESOS 2002
 
 The employee stock option scheme (ESOS 2002 or the scheme) of the
 Bank was approved by the Board of Directors in their meeting dated 23
 July 2001 and by the shareholders at the Annual General Meeting held on
 29 September 2001. A total of 500,000 equity shares of Rs.10 each were
 earmarked under the scheme to be allotted during the period (extended
 or otherwise) in which the scheme was in force. These options will vest
 over a period of five years from the date of grant i.e. 20% at the end
 of each year from the date of grant. The vesting of options is linked
 to performance criteria and guidelines approved by the compensation
 committee of the Bank. Consequent to the rights issue of the Bank
 during the financial year 2005-2006, appropriate adjustments were made
 to the number of outstanding options and initially fixed exercise
 price. ESOS 2002 was discontinued by the Bank in the Annual General
 Meeting held on 22 September 2005. No further options have been granted
 under this scheme.
 
 ESOS 2005
 
 The employee stock option scheme (ESOS 2005 or the scheme) of the
 Bank was approved by the Board of Directors in their meeting dated 27
 July 2005 and by shareholders at the Annual General Meeting held on 22
 September 2005. A total of 893,264 equity shares of Rs.10 each were
 earmarked under the scheme to be allotted during the period (extended
 or otherwise) in which the scheme is in force. These options will vest
 over a period of four years from the date of grant i.e. 25% at the end
 of each year from the date of grant. The vesting of options is linked
 to performance criteria and guidelines approved by the compensation
 committee of the Bank. The board level committee in their meeting dated
 25 October 2007 approved the grant of options under ESOS 2005 loyalty
 options scheme.
 
 ESOS 2007
 
 The employee stock option scheme (ESOS 2007 or the scheme) of the
 Bank was approved by the Board of Directors in their meeting dated 7
 March 2007 and by the shareholders through postal ballot meeting held
 on 11 May 2007. A total of 78,00,000 equity shares of Rs. 10 each were
 earmarked under the scheme to be allotted during the period (extended
 or otherwise) in which the scheme is in force. These options will vest
 over a period of three years from the date of grant i.e., 40% in 1st
 year; 30% in 2nd year and 30% in 3rd year at the end of each year from
 the date of grant. The vesting of options is linked to performance
 criteria and guidelines approved by the compensation committee of the
 Bank.
 
 ESOS 2010
 
 The employee stock option scheme (ESOS 2010 or the scheme) of the
 Bank was approved by the Board of Directors at their meeting held on 29
 April 2010 and by the shareholders at the last AGM held on 1 July 2010.
 A total of 1,15,00,000 equity shares of Rs. 10 each were earmarked
 under the scheme to be allotted during the period (extended or
 otherwise) in which the scheme is in force. These options vest over a
 period of three years from the date of grant i.e., 40% in 1st year; 30%
 in 2nd year and 30% in 3rd year at the end of each year from the date
 of grant. The vesting of options is linked to performance criteria and
 guidelines approved by the compensation committee of the Bank.
 
 The weighted average share price for all options exercised during the
 year is Rs. 357.09 per share (Previous Year: Rs. 259.56).
 
 Total employee compensation cost recognized, net of reversals for
 forfeitures, in Profit and Loss Account for the year ended 31 March
 2011 is Rs. (501) thousands (Previous year Rs. 3,536 thousands). Total
 employee compensation cost outstanding as at 31 March 2011 Rs. 3
 thousands (Previous year: Rs. 55 thousands).
 
 All options under each scheme when exercised are settled through issue
 of equity shares.
 
 1.3 Employee benefits
 
 Provident fund plan
 
 The Bank has a defined contribution plan in respect of provident fund.
 The contribution to the employees provident fund amounted to Rs.
 109,646 thousands for the year ended 31 March 2011 (Previous year Rs.
 93,027 thousands).
 
 Gratuity, Pension and Leave Benefit plans
 
 The Bank has defined benefit plans in respect of Gratuity, Pension and
 Leave Encashment. The Gratuity and Pension schemes are funded out of
 Trust fund set up for this purpose separately.
 
 Reopening of Pension Option and amendment to the Payment of Gratuity
 Act, 1972
 
 During the year, the Bank reopened the pension option for such of its
 employees who had not opted for the pension scheme earlier. As a
 result, the Bank has incurred an additional liability of Rs. 1,217,310
 thousands. Further, during the year, the limit of gratuity payable to
 the employees was also enhanced pursuant to the amendment to the
 Payment of Gratuity Act, 1972. As a result the gratuity liability of
 the Bank has increased by Rs. 207,352 thousands.
 
 In terms of Revised Accounting Standard (AS) 15, Employee Benefits, the
 entire amount of Rs. 1,424,663 thousands is required to be charged to
 the Profit and Loss Account. However, the Reserve Bank of India has
 vide their letter dated 8 April 2011 (the RBI Letter) on Re-opening
 of Pension Option to Employees and Enhancement in Gratuity Limits -
 Prudential Regulatory Treatment, permitted the Bank to amortise the
 additional liability on account of re-opening of pension option for
 existing employees who had not opted for pension earlier as well as the
 enhancement in gratuity limits over a period of five years beginning
 with the financial year ending 31 March 2011 subject to a minimum of
 1/5th of the total amount involved every year.
 
 The Bank has during the current year taken in its Profit and Loss
 account the full impact of Rs. 287,300 thousands on account of II
 Pension Option to retired/ separated employees as required by the RBI
 letter and Rs 207,353 thousands on account of amendment to the Payment
 of Gratuity Act which is allowed to be amortized over a period of five
 years by the RBI Letter.  Further, the Bank has provided Rs.186,002
 thousands representing one-fifth of the full impact of II Pension
 Option to the existing employees. In terms of the requirements of the
 RBI Letter, the balance impact of Rs. 744,008 thousands on account of
 II Pension Option to existing employees shall be provided over the next
 four years.
 
 Had the RBI Letter not been issued, the profit of the Bank would have
 been lower by Rs. 744,008 thousands pursuant to application of the
 requirements of Revised AS 15.
 
 The following tables summarize the components of net benefit expense
 recognized in the profit and loss account and the funded status and
 amount recognized in the balance sheet for the respective plans.
 
 1.4 Details of Unsecured Advances
 
 Under unsecured loans, amount of advances for which intangible
 securities such as charge over the rights, licenses, authority etc are
 accepted as collaterals is Nil.
 
 1.5 Floating provision
 
 The Bank has not created any floating provision.
 
 1.6 Overseas Assets, NPAs and Revenue
 
 There are Nil overseas assets (Previous year - Nil) and Nil overseas
 revenue (Previous year - Nil) for the Bank during the year ended 31
 March 2011.
 
 1.7.Purchase/ sale of non performing assets
 
 No NPA accounts were purchased during the year ended 31 March 2011
 (Previous year - Nil).
 
 1.8.Off balance sheet SPVs sponsored (which are required to be
 consolidated as per accounting norms)
 
 There are no off balance sheet SPVs sponsored by the Bank.
 
 1.9. Risk category wise country exposure
 
 As per the RBI guidelines, the country exposure of the Bank is
 categorized into various risk categories and depending on the risk
 category, the banks are required to make provision where net funded
 exposure to any country exceeds 1% of banks assets. As on the 31 March
 2011 net funded exposure to no country has exceeded 1% of total assets
 of the bank (Previous year - Nil).
 
 1.10 Fixed Assets
 
 1.10.1 Capital work in progress
 
 The Capital work in progress (Premises) Nil (Previous year Rs.
 2,017,211 thousands) includes Nil (Previous year Rs.  1,321,766
 thousands) towards the lease premium paid to Mumbai Metropolitan
 Regional Development Authority (MMRDA) in connection with the lease of
 land. During the current year, the Bank has completed construction of
 the building and executed lease agreement with MMRDA. Consequently, the
 entire amount of capital work in progress including the lease premium
 has been capitalized in the current year.
 
 1.10.2 Leases
 
 Operating leases
 
 The Bank has commitments under long-term non-cancellable operating
 leases primarily for premises. The terms of renewal / purchase options
 and escalation clauses are those normally prevalent in similar
 agreements. Following is a
 
 1.11 Deferred taxes
 
 In accordance with Accounting Standard 22 Accounting for taxes on
 income issued by the Institute of Chartered Accountants of India
 (ICAI) and notified by Companies Accounting Standard Rules, 2006,
 provision for taxation for the year is arrived at after considering
 deferred tax charge of Rs. 233,362 thousands (Previous year Rs.
 (282,761) thousands) for the current year.
 
 1.12 Capital (Tier I) raised during the year 2009 - 10
 
 During the year 2009 -10 the Bank had raised Tier I capital of Rs.
 4,159,132 thousands by way of Qualified Institutions Placement (QIP)
 and preferential allotment. The Bank had incurred expenses of Rs.
 32,090 thousands towards payment of commission to the Book Running Lead
 Managers in connection with the QIP and had adjusted this amount
 against Securities Premium Account. However on account of the
 restrictions placed by Section 13 of the Banking Regulation Act, 1949
 on the quantum of commission that can be paid, the Bank had sought
 RBI''s approval, which is awaited.
 
 The fair value of Rupee and FX IRS, CS and FRA contracts as at 31 March
 2011 is Rs. (158,173) thousands (Previous year Rs. (22,358) thousands),
 which represents the net mark to market loss on swap contracts. As at
 31 March 2011 the exposure to IRS, CS and FRA contracts is spread
 across industries. However based on notional principal amount the
 maximum single industry exposure lies with Banks at 81.72% (Previous
 year: 74.76%). In case of an upward movement of one basis point in the
 benchmark interest rates, there will be a positive impact of Rs. 1,810
 thousands (Previous year: Rs. 1,132 thousands) on total Interest Rate
 Swap trading book including Rupee IRS, FX IRS, CS and FRA. Agreements
 are with Banks/ Financial Institutions and corporate under approved
 credit lines.
 
 The fair value of the Option Book as at 31 March 2011 on a net basis is
 Rs. 7,186 thousands . As at 31 March 2011 notional outstanding for
 outstanding option contracts is Rs. 48,794,119 thousands (Previous
 year: Rs 137,180,790 thousands).
 
 1.13. Exchange Traded Interest Rate Derivatives, Forward Rate
 Agreements and Currency Swaps
 
 No Exchange Traded Interest Rate Derivatives, Forward Rate Agreements
 and Currency Swaps were entered during the year ended 31 March 2011
 (Previous year: Nil).
 
 1.13.1 Risk exposure on derivatives
 
 The Bank currently deals in various derivative products, i.e., Rupee
 and Foreign Currency Interest Rate Swaps, Currency Swaps, Forward Rate
 Agreement, Currency and Cross Currency options. These products are
 offered to the Bank''s customers to enable them to manage their exposure
 towards movement in foreign exchange rates or in Indian / foreign
 currency interest rates. The Bank also enters into these derivative
 contracts (i) to cover its own exposures resulting either from the
 customer transactions or own foreign currency assets and liabilities or
 (ii) as trading positions.
 
 The derivative contracts, as above, expose the Bank to risks such as
 credit risk and market risk. Credit risk implies probable financial
 loss the Bank may ultimately incur, if the counter parties fail to meet
 their obligations. Market risk deals with the probable loss the Bank
 may ultimately incur as a result of movements in exchange rates,
 benchmark interest rates: credit spreads etc., to the extent that the
 exposures are not fully covered by the Bank on a back-to-back basis or
 as hedge positions.
 
 The Bank has established an organization structure to manage these
 risks that operates independent of investment and trading activities.
 Management of these risks is governed by respective policies approved
 by the Board of Directors.  While expanding relationship-banking
 activities, the Bank has put in place a credit policy by defining the
 internal risk controls. The policy incorporates the guidelines issued
 by the RBI from time to time and envisages methodologies of
 identification, quantification of risk on the basis of Loan Equivalent
 Factor, risk rating and mitigation of the credit concentration risk by
 stipulating counterparty wise as well as product wise exposure ceiling.
 ISDA agreements are entered into with counterparties. The Bank has
 evolved a similar policy for managing market risks through specific
 product mandates, limits on book sizes, stop loss limits, Value at Risk
 limits (VaR), Event Risk Analysis, counter party limits etc.
 
 The Bank has also set up an Asset-Liability Management Committee
 (ALCO) and a Risk Management Review Committee (RMRC), which monitor
 the risk on an integrated basis. The market risk and credit risk
 management teams monitor compliance with the policies on a continuous
 basis and there is a clearly defined procedure of reporting and
 ratification of any limit breaches for derivative products.
 
 1.14 Related party transactions
 
 List of related parties
 
 Related parties where control exists
 
 ING Vysya Financial Services Limited - wholly owned subsidiary of the
 Bank
 
 Related parties with significant influence and with whom there are
 transactions during the year
 
 ING Bank N.V. and its branches
 
 ING Vysya Bank Staff Provident Fund
 
 ING Vysya Bank Staff Gratuity Fund
 
 ING Vysya Bank Superannuation Fund
 
 ING Vysya Bank (Employees) Pension Fund
 
 Key Management Personnel 
 
 - Mr. Shailendra Bhandari - Managing Director & Chief Executive Officer
 (MD & CEO)
 
 The above list does not include the related parties, which are having
 transactions with the Bank by way of deposit accounts.
 
 1.15 Segment Reporting:
 
 Segment Information - Basis of preparation
 
 As per the guidelines issued by RBI vide
 DBOD.No.BP.BC.81/21.01.018/2006-07 dated April 18, 2007, the
 classification of exposures to the respective segments is now being
 followed. The business segments have been identified and reported based
 on the organization structure, the nature of products and services, the
 internal business reporting system and the guidelines prescribed by
 RBI. The Bank operates in the following segments:
 
 (a) Treasury
 
 The treasury segment includes the net interest earnings on investments
 of the bank in sovereign bonds, corporate debt, mutual funds etc,
 income from trading, income from derivative and foreign exchange
 operations and the central funding unit.
 
 (b) Retail Banking
 
 The retail banking segment constitutes the business with individuals
 and small businesses through the branch network and other delivery
 channels like ATM, Internet banking etc. This segment raises deposits
 from customers, makes loans and provides fee based services to such
 customers. Exposures are classified under retail banking broadly taking
 into account the orientation criterion, the nature of product and
 exposures which are not exceeding Rs. 5 crores. Revenue of the retail
 banking segment includes interest earned on retail loans, fees and
 commissions for banking and advisory services, ATM Fees etc. Expenses
 of this segment primarily comprise the interest expense on the retail
 deposits, personnel costs, premises and infrastructure expenses of the
 branch network and other delivery channels, other direct overheads and
 allocated expenses.
 
 (c) Wholesale Banking
 
 The wholesale banking segment provides loans and transaction services
 to large corporate, emerging corporate, institutional customers and
 those not classified under Retail. Revenue of the wholesale banking
 segment includes interest and fees earned on loans to customers falling
 under this segment, fees from trade finance activities and cash
 management services, advisory fees and income from foreign exchange and
 derivatives transactions. The principal expenses of the segment consist
 of personnel costs, other direct overheads and allocated expenses.
 
 (d) Other Banking Operations
 
 All Banking operations that are not covered under the above three
 segments.
 
 (e) Unallocated
 
 All items of which cannot be allocated to any of the above are
 classified under this segment. This also includes capital and reserves,
 debt classifying as tier I or tier II capital and other unallocable
 assets and liabilities.
 
 Segment revenue includes earnings from external customers plus earnings
 from funds transferred to other segments.  Segment result includes
 revenue reduced by interest expense, operating expenses and provisions,
 if any, for that segment. Inter-segment revenue represents the transfer
 price paid/received by the central funding unit. For this purpose the
 present internal funds transfer pricing mechanism has been followed
 which calculates the charge based on yields benchmarked to an
 internally developed yield curve, which broadly tracks certain agreed
 market benchmark rates.  Segment-wise income and expenses include
 certain allocations. The Retail banking and Wholesale banking segments
 allocate costs among them for the use of branch network etc. Operating
 costs of the common/shared segments are allocated based on agreed
 methodology which estimate the services rendered by them to the above
 four segments.
 
 1.16. Penalties levied by RBI on the Bank
 
 During the year there were no penalties levied by RBI on the Bank
 (Previous year Nil.)
 
 1.16.1 Letters of comforts issued by the Bank
 
 The Bank has 413 (Previous year: 262) letter of comforts/ undertaking
 issued and outstanding as on 31 March 2011 amounting to Rs. 11,011,569
 thousands (Previous year: Rs. 8,449,626 thousands).
 
 1.16.2 Draw down from Reserves
 
 During the year, the Bank has utilized the securities premium account
 for meeting direct expenses of Nil (Previous Year: Rs. 38,115
 thousands) relating to the QIP issue, as per the RBI mail box
 clarification dated 9 October 2007.
 
 1.16.3 Prior Period Item
 
 In earlier years, the Bank had participated in a tender floated by the
 Mumbai Metropolitan Region Development Authority (''MMRDA'') for
 allotment of a plot of land on an 80 year lease in an area reserved for
 banks. Due to certain restraints, the Bank had sought additional time
 to pay certain installments. Eventually as part of a settlement with
 MMRDA, the Bank paid the pending installment along with incremental
 amount of Rs. 307,252 thousands which was expensed off during the years
 2003-04, 2004-05 and 2005-06. Thereafter, the Bank entered into an
 agreement to lease with MMRDA and commenced construction of the
 building. Since the Bank paid the incremental amount before the right
 to lease was acquired, the incremental amount of Rs. 307,252 thousands
 was considered as part of the acquisition cost of the leased premises
 in the year 2009 - 10.
 
 As a result, for the year 2009 - 10, profit before tax and profit after
 tax are higher by Rs. 307,252 thousands and 2,817 thousands
 respectively and the fixed assets are higher by Rs. 307,252 thousands.
 
 1.16.4 Previous year''s figures
 
 Previous year''s figures have been regrouped / recast, where necessary,
 to conform to current year''s presentation.