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Moneycontrol.com India | Notes to Account > Banks - Private Sector > Notes to Account from Yes Bank - BSE: 532648, NSE: YESBANK

Yes Bank

BSE: 532648  |  NSE: YESBANK  |  ISIN: INE528G01019  |  Banks - Private Sector

Explore Yes Bank connections « Mar 08
Notes to Accounts Year End : Mar '09
1.  The business of the Bank is concentrated in India. Accordingly,
 geographical segment results have not been reported.
 
 2.  In computing the above information, certain estimates and
 assumptions have been made by the Management.
 
 3.  Income, expense, assets and liabilities have been either
 specifically identified with individual segment or allocated to
 segments on a systematic basis or classified as unallocated.
 
 4.  Fixed assets and related depreciation on fixed assets, Cash and non
 treasury related bank balances at branches, Bills payable, Tax related
 accounts, Tier II instruments, Innovative Perpetual Debt instruments,
 Share capital and Reserves and relevant interest and operating expenses
 which cannot be allocated to any segments have been classified as
 unallocated.
 
 5.  Inter-segment transactions have been generally based on transfer
 pricing measures as determined by the Management.
 
 6 Related Party Disclosures
 
 a) As per AS 18 Related Party Disclosures, prescribed by the
 Companies (Accounting Standards) Rules 2006, the Banks related parties
 for the year ended March 31, 2009 are disclosed below: Individuals
 having significant influence:
 
 - Mr. Rana Kapoor, Managing Director & CEO
 
 - Mr. H. Srikrishnan, Executive Director (Upto April 25, 2008)
 
 Key Management Personnel (KMP) (Wholetime Director)
 
 - Mr. Rana Kapoor, Managing Director & CEO
 
 - Mr. H. Srikrishnan, Executive Director (Upto April 25, 2008)
 
 b) As per AS 18 Related Party Disclosures, prescribed by the
 Companies (Accounting Standard) Rules 2006, the Banks related parties
 for the year ended March 31, 2008 are disclosed below:
 
 Individuals having significant influence:
 
 - Mr. Rana Kapoor, Managing Director & CEO
 
 - Mr. H. Srikrishnan, Executive Director
 
 Key Management Personnel (KMP) (Wholetime Director)
 
 - Mr. Rana Kapoor, Managing Director & CEO
 
 - Mr. H. Srikrishnan, Executive Director
 
 7. Earnings Per Share (EPS)
 
 The Bank reports basic and diluted earnings per equity share in
 accordance with Accounting Standard 20, Earnings per Share. The
 dilutive impact is mainly due to stock options granted to employees by
 the Bank.
 
 8. ESOP disclosures
 
 Statutory Disclosures Regarding joining Stock Option Scheme:
 
 The Bank has five Employee Stock Option Schemes viz. Joining Stock
 Option Plan I (JSOP I) , Joining Employee Stock Option Plan II (JESOP
 II), Joining Employee Stock Option Plan III (JESOP III), YBL ESOP
 (consisting of two sub schemes) and YBL JESOP V/PESOP II (consisting of
 two sub schemes). The schemes include provisions for grant of options
 to eligible employees.  All the aforesaid schemes have been approved by
 the Board Remuneration Committee and the Board of Directors and were
 also approved by the members of the Bank.
 
 JSOP I is administered by the Board Remuneration Committee of the Bank
 and was in force for employees joining the Bank on or before March 31,
 2005. All the grants under JSOP I were made before the IPO of the Bank.
 
 JESOP II and JESOP III are administered by the Board Remuneration
 Committee of the Bank and were in force for employees joining the Bank
 up to March 3 1, 2006, March 31, 2007 and March 31, 2008.
 
 YBL ESOP (JESOP IV), a sub scheme of YBL ESOP and YBL JESOP V, a sub
 scheme of YBL JESOP V/PESOP II are also administered by the Board
 Remuneration Committee of the Bank and are in force for employees
 joining the Bank from time to time.
 
 Under the above plans, vesting takes place at the end of three years
 from the grant date for 50% of the options granted and at the end of
 five years for the balance. Options under all these plans are granted
 for a term of 10 years, (inclusive of the vesting period) and are
 settled with equity shares being allotted to the beneficiary upon
 exercise.
 
 YBL ESOP (PESOP I), a sub scheme of YBL ESOP and YBL PESOP II, a sub
 scheme of YBL JESOP V/PESOP II are Performance Stock Option Plans and
 are also administered by the Board Remuneration Committee of the Bank.
 Under YBL ESOP (PESOP I) vesting takes place at the end of each year
 from the grant date for 25% of the options granted and are settled with
 equity shares being allotted to the beneficiary upon exercise. Under
 YBL PESOP II, 30% of the granted options vest at the end of first year,
 30 % vest at the end of second year and balance 40% vest at the end of
 third year.
 
 9. Deferred Taxation
 
 The net deferred tax asset of Rs. 463,037 thousands as at March 3 1,
 2009, is included under other assets and the corresponding credits have
 been taken to the profit and loss account.
 
 10. Other Disclosures
 
 10.1 Movement in Floating Provisions
 
 The Bank has not created or utilised any floating provisions during the
 year ended March 3 1, 2009 and year ended March 31, 2008. The floating
 provision as at March 31, 2009 was nil (Previous year Nil).
 
 10.2 Drawdown on Reserves
 
 The Bank has not drawn down any reserves during the year ended March
 31, 2009 (previous year: Nil).
 
 10.3 Dues to Micro, Small and Medium Enterprises
 
 Under the Micro, Small and Medium Enterprises Development Act, 2006
 (MSMED) which came into force from October 02, 2006, certain
 disclosures are required to be made relating to Micro, Small and Medium
 enterprises. On the basis of information and records available with the
 management and confirmation sought by the management from suppliers on
 their registration with the specified authority under MSMED, there have
 been no reported cases of delays in payments to micro, ¦ small and
 medium enterprises or of interest payments due to delays in such
 payments.
 
 10.4 Letter of comfort
 
 The Bank has not issued any letter of comfort during the year ended
 March 3 1, 2009 and March 3 1, 2008.
 
 10.5 Description of contingent liabilities
 
 S.No.  Contingent Liabilities
 
 1.  Claims against the Bank not acknowledged as debts
 
 Brief
 
 The Bank is a party to various legal proceedings in the normal course
 business. The Bank does not expect the outcome of these proceedings
 have a material adverse effect on the Banks financial conditions,
 results operations or cash flows.
 
 2.  Liability on account of forward exchange and derivative contracts
 
 The Bank enters into foreign exchange contracts, currency options,
 forward rate agreements, currency swaps and interest rate swaps with
 interbank participants 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 interest/principal in one currency i against another,
 based on predetermined rates.  Interest rate swaps are \ commitments to
 exchange fixed and floating interest rate cash flows. The notional
 amounts of financial instruments of such foreign exchange contracts and
 derivatives provide a basis for comparison with instruments recognised
 on the balance sheet but do not necessarily indicate the amounts of
 future cash flows involved or the current fair value of the instruments
 and, therefore, do not indicate the Banks exposure to credit or price
 risks. The derivative instruments become favourable (assets) or
 unfavourable (liabilities) as a result of fluctuations in market rates
 or prices relative to their terms. The aggregate contractual or
 notional amount of derivative financial instruments on hand, the extent
 to which instruments are favourable or unfavourable and, thus the
 aggregate fair values of derivative financial assets and liabilities
 can fluctuate significantly.
 
 3.  Guarantees given on behalf of constituents, acceptances,
 endorsements and other obligations
 
 As a part of its commercial banking activities, the Bank issues
 documentary credit and guarantees on behalf of its customers.
 Documentary credits such as letters of credit enhance the credit
 standing of the customers of the Bank. Guarantees generally represent
 irrevocable assurances that the Bank will make payments in the event of
 the customers failing to fulfil their financial or performance
 obligations.
 
 4.  Other items for which the Bank is contingently liable
 
 - Value dated purchase of securities
 
 - Capital commitments
 
 - Foreign Exchange Contracts ( Tom & Spot)
 
 10.5.1 Prior period comparatives
 
 Previous periods figures have been regrouped where necessary to
 conform to this years classification.
Source : Religare Technova

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