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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 (8999)

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 2011, 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 2011, 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 650 branches including 2 Focal point branches audited by other Auditors; (iii) unaudited returns certified by the Branch Managers in respect of 37 Branches not visited by us. These unaudited branches account for 0.16% of advances, 0.47% of deposits, 0.09% of interest income and 0.24% of interest expenses; and 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 begiven in terms of the provision of the State Bank of India (Subsidiary Banks) Act, 1959 and Regulations there under. 5. Without qualifying our opinion, attention is drawn to Note No. 4.4.1 in Schedule 18 regarding deferment of pension and gratuity liability of the bank to the extent of Rs. 106.54 Crores pursuant to the exemption granted by the Reserve Bank of India to the public sector banks from the application of Accounting Standard (AS) 15, Employees Benefits vide its circular no. DBOD.BP.BC/80/21.04.012/2010-11 on Re-opening of Pension Option to Employees of Public Sector Banks and Enhancement in Gratuity Limits - Prudential Regulatory Treatment. 6. Attention is also drawn to Note No. 3.10 in Schedule 18 regarding reconciliation of Inter-Branch Accounts, Inter Bank Accounts, ABSOT, Branch System Suspense Account, National Local Clearing Account, IBIT, Forex Clearing General Account, ATM transactions , System Suspense Account, FCNR Account, PCFC Account etc. 7. 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 and 6 above and subject 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 2011, in conformity with accounting principles generally accepted in India; (ii) The Profit and Loss Account, read with the Significan 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 (Hi) 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 generaffy compfy 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 GROVER, LALLA & MEHTA Chartered Accountants FRN - 002830N Sd/- (CA. ASHOK GROVER) Partner Membership No. 081784 For GOPALAIYER AND SUBRAMANIAN Chartered Accountants FRN - 000960S Sd/- (CA. S. KASI VISWANATHAN) Partner Membership No. 026975 For RAMRAJ & CO. Chartered Accountants FRN - 002839S Sd/- (CA. G. VENKATESWARA RAO) Partner Membership No. 024182 For K. P. RAO & CO. Chartered Accountants FRN - 003135S Sd/- (CA. K. SURYA PRAKASH) Partner Membership No. 018857 For BHASIN RAGHAVAN & CO. Chartered Accountants FRN - 000197N Sd/- (CA. S. V. RAGHAVAN) Partner Membership No. 014315 Place: New Delhi Date: 29th April, 2011