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State Bank of Mysore

BSE: 532200 | NSE: MYSOREBANK | Series: NA | ISIN: INE651A01020 | SECTOR: Banks - Public Sector

BSE Live

Mar 15, 16:00
606.45 0.00 (0.00%)
Volume
No Data Available
2,832
  • Prev. Close

    606.45

  • Open Price

    600.50

  • Bid Price (Qty.)

    606.45 (175)

  • Offer Price (Qty.)

    606.45 (925)

State Bank of Mysore is not traded on BSE in the last 30 days

NSE Live

Mar 15, 15:40
606.05 0.00 (0.00%)
Volume
No Data Available
116,755
  • Prev. Close

    606.05

  • Open Price

    600.90

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    606.05 (8989)

State Bank of Mysore is not traded on NSE in the last 30 days

Annual Report

For Year :
2016 2015 2014 2013 2012 2011 2010 2009 2008

Auditor's Report

1. We, the undersigned Auditors of State Bank of Mysore appointed under section 41(1) of the State Bank of India (Subsidiary Banks) Act, 1959, do hereby report on the Balance Sheet as at 31st March, 2008, the Profit and Loss Account and Cash Flow Statement of the Bank for the year ended on that date annexed thereto. 2. We have audited the attached Balance Sheet of STATE BANK OF MYSORE as at 31st March, 2008, the Profit and Loss Account and the Cash Flow Statement thereto for the year ended on that date in which are incorporated. (i) the returns of 20 branches audited by us; (ii) the returns of 586 branches and 7 Service Branches audited by other Auditors; (iii) Unaudited returns certified by the Branch Managers in respect of 41 Branches not visited by us. These unaudited branches account for 0.78% of advances, 0.86% of deposits, 0.42% of interest income and 0.71% of interest expenses; and (iv) Unaudited returns in respect of NPA movements, Loan assets subjected to restructuring, rescheduling & re- negotiation and AUCA. The branches audited by us and those by other auditors have been selected by the Bank in accordance with the guidelines issued to the Bank by the Reserve Bank of India. These financial statements are the responsibility of the Banks management. Our responsibility is to express an opinion on these financial statements based on our audit. 3. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material mis-statement(s). An audit includes examining, on a test basis, evidence supporting the amounts and disclosures, in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 4. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms A and B respectively of the third Schedule to the Banking Regulation Act, 1949 and give the information as required to be given in terms of the provision of the State Bank of India (Subsidiary Banks) Act, 1959 and Regulations there under. 5. We invite attention to: i. Note No. 8.2 in schedule 18 of Notes on Accounts regarding reconciliation of Inter-Branch Accounts, Inter Bank Accounts, Branch System Suspense Account, National & Local Clearing Account, IBIT, Nostra Accounts, Forex Clearing General Account etc., ii. Note No. 1* in Schedule 18 regarding mismatch in buckets of BASEL - II statements. 6. Subject to the limitations of the audit, indicated in paragraph 2 above, and on the basis of the aforesaid Acts and Regulations, and read with our observations in paragraph 5 above and subject also to the limitations of disclosure required therein and read with the Significant Accounting Policies and Notes forming part of the Accounts; We report that: (a) In our opinion and to the best of our information and according to the explanations given to us and as shown by. the books of the Bank. (i) The Balance Sheet, read with the Significant Accounting Policies in Schedule 17 and Notes on Accounts in Schedule 18, is a full and fair Balance Sheet containing all the necessary particulars, and is properly drawn up so as to exhibit a true and fair view of the state of affairs of the Bank as at 31st March, 2008 in conformity with accounting principles generally accepted in India; (ii) The Profit and Loss Account, read with the Significant Accounting Policies in Schedule 17 and Notes on Accounts in Schedule 18, shows a true balance of profit for the year ended on that date, in conformity with accounting principles generally accepted in India, and (iii) The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date. (b) We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary for the purposes of our audit and have found them to be satisfactory. (c) The transactions of the Bank, which have come to our notice, have been within the competence of the bank. (d) The returns received from the branches and offices of the Bank generally have been found adequate for the purpose of our audit. (e) In our opinion, the balance sheet, profit & loss account and cash flow statement generally comply with the applicable Accounting Standards read with the Guidelines on Compliance with Accounting Standards by Banks, issued by the Reserve Bank of India from time to time. STATUTORY CENTRAL AUDITORS For H.S. AHUJA & CO. CHARTERED ACCOUNTANTS Sd- (SUBHASH GUPTA) PARTNER, Membership No. 83737 For L.K. KEJRIWAL & CO. CHARTERED ACCOUNTANTS Sd- (L.K. KEJRIWAL) PARTNER, Membership No. 11848 For S.K. BASU & CO. CHARTERED ACCOUNTANTS Sd- (S. BASU) PARTNER, Membership No. 53225 For DHAWAN & CO. CHARTERED ACCOUNTANTS Sd- (I.J. DHAWAN) PARTNER, Membership No. 81679 For P.K.K.G. BALASUBRAMANIAM & ASSOCIATES CHARTERED ACCOUNTANTS Sd- (G. BALASUBRAMANIAM) PARTNER, Membership No. 21390 Place: Mumbai Date : 23rd April, 2008