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Board of Directors

ÏãÆãè ›ãè. Ôããè. †. ÀâØã¶ãã©ã¶ã ÏãÆãè ‚ããÀ. Ôãìºãƽ㥾ã‡ã슽ããÀ

ØãõÀ ‡ãŠã¾ãÇãŠãÀãè ‚ã£¾ãàã †½ã¡ãè. Ìã ÔããèƒÃ‚ããñ
Shri. T C A Ranganathan Shri. R. Subramaniakumar
Non-Executive Chairman Managing Director & CEO

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¹ãî¥ãÇãŠããäÊã‡ãŠ ãä¶ãªñÍã‡ãŠ
Shri. Karnam Sekar
Officer on Special Duty and
Whole Time Director

ÏãÆãè ‡ãñŠ. ÔÌãããä½ã¶ãã©ã¶ã ±Å¨ÅÊdÅwÅ ÅiÅÎlŸÅÅ¢±Å¨ÅÊ®ÅŶˆÅ®Å

‡ãŠã¾ãùããÊã‡ãŠ ãä¶ãªñÍã‡ãŠ ‡ãŠã¾ãùããÊã‡ãŠ ãä¶ãªñÍã‡ãŠ
Shri. K. Swaminathan Shri. Ajay Kumar Srivastava
Executive Director Executive Director

¶ÅαŨÅÊhӘÅÅÊwÅÅÛwÅ¥ŸÅ׋ ÅÐ ±Å¨ÅÊÅƘşť¬ÅÀÅČ ÏãÆãè ‡ãñŠ. ÀÜãì

ÔãÀ‡ãŠãÀãè ¶ãããä½ã¦ããè ãä¶ãªñÍã‡ãŠ ¼ãã.ãäÀ.ºãõ. ¶ãããä½ã¦ããè ãä¶ãªñÍã‡ãŠ Ôã¶ãªãè ÊãñŒãã‡ãŠãÀ ‡ãñŠ ¦ã֦㠂ãâÍã‡ãŠããäÊã‡ãŠ
Ms. Annie George Mathew Shri. Nirmal Chand ØãõÀ-‚ãããä£ã‡ãŠããäÀ‡ãŠ ãä¶ãªñÍã‡ãŠ
Government Nominee Director RBI Nominee Director Shri. K. Raghu
Part-time Non-official Director under
Chartered Accountant Category

±Å¨ÅʶÅÄwŠŤĺÅ}Å ÏãÆãè ¶ãÌããè¶ã ¹ãƇãŠãÍã ãäÔã¶Öã

Íãñ¾ãÀ£ããÀ‡ãŠ ãä¶ãªñÍã‡ãŠ Íãñ¾ãÀ£ããÀ‡ãŠ ãä¶ãªñÍã‡ãŠ
Shri. Sanjay Rungta Shri. Navin Prakash Sinha
Shareholder Director Shareholder Director
 eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl Indian Overseas Bank
iÅÓl˜•ÅÊ ÅiÅlÅ ÅÅ¥¬Å Åd҇ÅŶÅŬÅ×ÀÅӚÅ× Central Office, 763 Anna Salai, Chennai 600002

®ÅÅÅƵťiÅlÅÆ¢›ÅÅÓ}¥ ANNUAL REPORT 2018-19

ÅƘŌӯÅiÅlŸÅă¬Å BOARD OF DIRECTORS
±Å¨ÅÊ}ÅʶÅÅÊh¢ÄºÅ˜ÅŋŘŠShri T C A Ranganathan
ºÅ×¢iÅlŠťiÅlÅ¢ÅÊdŅ ÅÂÅ Non-Executive Chairman

³ÅÅÊdÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ Shri R Subramaniakumar

›Å¨œÅąÅÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠťiÅlÅ¢ÅÊdÅÅƅÅiÅlÅ¢ÅÊ Managing Director & CEO

³ÅÅÊiÅl˜Å¥ŸÅ¯ÅÓnÅ¢ Shri Karnam Sekar

ÅƮůÅÓµÅiÅlÅ ÅÅ¥ÅƅÅiÅlÅ¢ÅÊh®ÅÄ›ÅЇťiÅlÅÅƬÅiÅlÅƘŌӯÅiÅl Officer on Special Duty and Whole Time Director

±Å¨ÅÊiÅÓl¶®ÅÅÅƟŘÅŋŘÅ Shri K Swaminathan

iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director

±Å¨ÅÊdÅwÅ ÅiÅÎlŸÅÅ¢³ÅÅÊ®ÅŶˆÅ®Å Shri Ajay Kumar Srivastava

iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director

¶ÅαŨÅÊhӘÅÅÊwÅÅwÅ¥ŸÅ׋ ÅÐ Ms. Annie George Mathew

¶Å¢iÅlÅ¢ÅʘÅÅÅƟňÅÅÊÅƘŌӯÅiÅl Government Nominee Director

±Å¨ÅÊÅƘşť¬ÅÀÅČ Shri Nirmal Chand

žÅÅ¢ˆÅÅÊ ÅÅÆ¢wŮťœÅØiÅl˜ÅÅÅƟňÅÅÊÅƘŌӯÅiÅl RBI Nominee Director

±Å¨ÅÊiÅÓl¢¾ÅÎ Shri K Raghu

¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢›Å¨®ÅºÅ¥iÅÓlˆÅ¸ˆÅdÅįÅiÅlÅÅƬÅiÅlºÅ×¢dÅÅÅƅÅiÅlÅ¢ÅÊÅƘŌӯÅiÅl Part time Non Official Director under
Chartered Accountant Category

±Å¨ÅʶÅÄwŠţĺÅ}Å Shri Sanjay Rungta

¯ÅӠޅÅÅ¢iÅlÅƘŌӯÅiÅl Shareholder Director

±Å¨ÅʘŮÅÅʘśŨiÅlůÅÅƶظÅ Shri Navin Prakash Sinha

¯ÅӠޅÅÅ¢iÅlÅƘŌӯÅiÅl Shareholder Director

¶ÅαŨÅʢŅÅÅ®ÅÔiÅl}iÅÒlµ‡Å˜Å Ms Radha Venkatakrishnan

ŸÅ¸Å›Å¨œÅąÅiÅlh®ÅĶÅÅÊh›ÅldÅÅÓ General Manager & CFO

ÊãñŒãã‡ãŠãÀ AUDITORS ›ÅÄwÅÅÊ ÅiÅlh®ÅįÅӠŢdÅĈއÅhwÅÔ} Registrar & Share Transfer Agent

1. ŸÅӶŶťdÅÅ¢¶ÅΜŨŸÅÅƘŠŘÅhăiÅÄl 1. M/s. R Subramanian and ŸÅӶŶťiÅÓlÅƟŠÅÅÓiÅlÅۛÅÅÕ¢Ó}¶ÅÅƮť¶ÅÓÝwÅÅƬÅ M/s Cameo Corporate Services Ltd
h¬Åh¬Å›ÅÅÊÀÅӚÅ× Co. LLP, Chennai

2. ŸÅӶŶťh¶ÅhdÅÅ¢¶ÅÅÊhă 2. M/s. S A R C & Associates, ( ÅÐÅƘÅ}eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl) (Unit – IOB)

h¶ÅÅÓÅƶÅh}öŘÅe¥Åƌ¬¬ÅÅÊ New Delhi ¶ÅΜŨŸÅÅƇŠŘÅÅƜÅÅƬƒÄºÅ Subramanian Building,

3. ŸÅӶŶť›ÅŊÅÅÓhăiÅÄl›Å˜ÅÅÊ 3. M/s. Patro & Co. ›ÅÅÄÀÅ®ÅÅĈŬŘÅÄiÅm¬ÅœÅ¸Åf¶Å¢ÅӃ V Floor, No.1 Club House Road,
žÅήŘÅÓ±®Å¢ Bhubaneswar ÀÅӚÅ× Chennai 600 002

4. ŸÅӶŶťhŸÅ³ÅÅÊÅƘŮÅŶŘÅhă 4. M/s. M. Srinivasan & }ÓÅƬÅ6L[/LQHV Tel: 044 / 28460390 (Six Lines)
h¶ÅÅÓÅƶÅh}öÅÀÅӚÅ× Associates, Chennai   044 – 28460395
Fax : 044 / 28460129
›Å×liÅm¶Å
e¥ŸÅÓ¬ÅFDPHR#FDPHRLQGLDFRP e-mail: cameo@cameoindia.com

1
 eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl Indian Overseas Bank
iÅÓl˜•ÅÊ ÅiÅlÅ ÅÅ¥¬Å Åd҇ÅŶÅŬÅ×ÀÅӚÅ× Central Office, 763 Anna Salai, Chennai 600002

®ÅÅÅƵťiÅlÅÆ¢›ÅÅÓ}¥ ANNUAL REPORT 2018-19

ÅƮŵŠÅ®Å¶ˆÅÐ ›ÅÒµ¶ÅÄ Contents Page No.

hiÅl„ŬÅiÅlŸÅÔ 3 At a Glance 3

›Å¨œÅ˜…ÅÅƘŌӯÅiÅlh®ÅĶÅÅÊe¥dÅÅÓiÅlÅʃӶiÅl¶ÅÓ 4 From the Managing Director & CEO's Desk 5

¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÓ¶ÅÐÀŘÅÅ  Notice to the Shareholder 18

ÅƘŌӯÅiÅlÅÔiÅlÅÊÅÆ¢›ÅÅÓ}¥ 32 Directors’ Report 33

›Å¨œÅąŘÅÅÆ®ÅÀÅÅ¢ÅƮşůťdÅÅ×¢ÅƮů¬ÅӵŇŠ Management Discussion and Analysis 37

®ÅµÅ¥iÅÓlÅƬÅhiÅlÅۛÅÅÕ¢Ó}ºÅ®Å˜ÅÓ¦¶Å›Å¢ÅƘŌӯÅiÅlŸÅă¬ÅiÅlÅÊÅÆ¢›ÅÅÓ}¥  Report of the Board of Directors on Corporate 75

Governance for the year 2018-19

iÅlÅۛÅÅÕ¢Ó}ºÅ®Å˜ÅÓ¦¶Å›Å¢¬ÅÓnÅśŢÅÊÂÅiÅlÅÔiÅlśŨŸÅŇśŊŠ Auditors’ Certificate on Corporate Governance 117

¶ÅÅÅÆÀÅÅÆ®ÅiÅl¬ÅÓnÅśŢÅÊÂÅÅÅÆ¢›ÅÅÓ}¥  Secretarial Audit Report 118

®ÅÅÅƵťiÅl¬ÅÓnÅÅ  Annual Accounts 120

˜ÅiÅlŒÅʛŨ®ÅŸÅƮŮŢ‡Å 122 Cash Flow Statement 122

¶®ÅˆÅĊŬÅÓnÅśŢÅÊÂÅiÅlÅÔiÅlÅÊÅÆ¢›ÅÅÓ}¥  Independent Auditors’ Report 191

dÅÅƈÅÅÆ¢iÅmˆÅ›Å¨iÅl}ÅÊiÅl¢‡Å  Additional Disclosure 199

® ÅŮŶÅÅÅÆ ÅiÅlf‰Å¢ŒÅÅƠň®ÅÅÆ¢›ÅÅÓ}¥  Business Responsibility Report 2018-19 253

eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl¬ÅŞÅÅįÅÅƮňއŘÅÅÊÅƈŠ IOB Dividend Distribution Policy 277

 ÅÅƌe¶Å®ÅÅÅƵťiÅlÅÆ¢›ÅÅÓ}¥iÅÓlÅƸ˜ŒÅÊ£›ÅÅĈއÅŸÅÔiÅlÅÓe¥ÅƮŶÅÄÅƺňÅ›ÅÅe¥wÅňÅÅÊ (In this Annual Report, in case of any discrepancy

¸×ˆÅÅÓdÅĺŨÓwÅÅÊ®ÅwÅ¥˜Å¶Å¸ÅÊŸÅŘÅÅwÅÅhºÅÅ found in Hindi Version, English Version will prevail)

ÅƮʼnÅÅÊ ÅiÅ×l¬Åԃ¢ Financial Calendar

dśŨ׬ŶÅÓŸÅÅÀÅ¥ˆÅiÅliÅÓlÅƮʼnÅÅʠŮŵťiÅÓlÅƬÅh For the Financial Year 1st April 2018 to 31st March 2019

œÅ¸ÅÊnÅňÅÅœÅČÅÊÅƈÅÅƋŠºÅΣ®ÅÅ¢¶ÅÓ Book Closure Date 04.07.2019 (Thursday) to

œÅ΅ŮÅÅ¢ˆÅiÅl 10.07.2019 (Wednesday)

®ÅÅÅƵťiÅlÅÆ¢›ÅÅÓ}¥iÅlÅÊ›ÅÅÓÅƶ}ĺÅ œÅ΅ŮÅÅ¢¶ÅÓ Posting of Annual Report 12.06.2019 (Wednesday) to

¯ÅÅƘŮÅÅ¢ˆÅiÅl 15.06.2019 (Saturday)

›Å¢ÅÓÂÅÅÊ›ÅlşťiÅlÅʛŨÅÅƛˆÅiÅlÅÊdÅÄÅƈşÅÅƈÅÅƋŠ¯ÅÎiŨl®ÅÅ¢ Last Date of receipt of Proxy 05.07.2019 (Friday)

dśŢŸ˜Å Form 5.00 p.m.

®ÅÅÅƵťiÅldÅşÅœÅׁiÅliÅlÅÅƌ˜ÅÅÄiÅl œÅ΅ŮÅÅ¢ Date of AGM 10.07.2019 (Wednesday)

›ÅЮÅÅ¥¸˜ÅDP 10.00 a.m.

¬ÅŞÅÅįÅiÅlÅʾÅÅӵŇÅÅ ¯ÅИ Å Declaration of Dividend: Nil

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At a Glance
(Rs. In Crore)

Mar-19 Mar-18 Mar-17 Mar-16 Mar-15

Total Business 374530 3,67,831 3,68,119 3,97,241 4,25,090
Global Deposits 222534 2,16,832 2,11,343 2,24,514 2,46,049
Domestic Deposits 217963 2,10,388 2,05,154 2,18,556 2,39,819
Domestic Gross Advances 146001 1,38,516 1,42,651 1,55,429 1,62,838
Global Net Advances 132597 1,32,489 1,40,459 1,60,861 1,71,756
Priority Sector Advances 75393** 70040** 63984** 67615* 63635*
Agricultural Credit 31048** 29851** 28865** 30237* 29236*
Net Investments 66932 68,646 71,654 79,189 79,298
Interest Income 17631 17,915 19,719 23,517 23,938
Non Interest Income 4206 3,746 3,373 2,528 2,139
Operating Expenses 4452 5,585 4,912 5,025 4,200
Gross Profit 5034 3,629 3,650 2,885 3,322
Net Profit/Net Loss -3738 -6,299 -3,417 -2,897 -454
Equity Share Capital 9141.65 4890.77 2,454.73 1,807.27 1,235.35
Gross NPA (%) 21.97 25.28 22.39 17.40 8.33
Net NPA (%) 10.81 15.33 13.99 11.89 5.68
Capital Adequacy Ratio (%) 10.21 9.25 10.50 9.66 10.11
* Outstanding as on 31st March
** Average of 4 quarters performance as per revised Priority Sector guidelines of RBI from FY 2016-17 onward for achievement of
Priority Sector Target & Sub target for the financial year.
Previous years figures are regrouped wherever necessary

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4
 INDIAN OVERSEAS BANK - CENTRAL OFFICE CHENNAI
Letter from Managing Director & Chief Executive Officer
Shri.R. Subramaniakumar, Managing Director & Chief Executive Officer
Dear Shareholders,
I have pleasure in presenting your Bank’s Annual Report and
financial statements for the year 2018-19. I would like to share
with you the performance highlights of the Bank during the year
as well as the outlook for the Bank going forward.
Economic Environment
o Inflation: While CPI eased to 3.5% in fiscal 19 due to
decline in food inflation, it is expected to increase.
o 10 year G-sec yields to stay at similar levels due to inflows
by foreign portfolio investors and liquidity support on
expectations of further rate cut.
o Rupee may weaken modestly with relatively low oil prices
and dovish monetary policy in advanced economies.
o Exports growth at 8.6% in fiscal 2019 slowed compared
with 10% in last year. Uptick in exports of engineering
goods and chemicals and readymade garments.
o GDP growth likely to moderate to 5.9 – 6.1% in the fourth
quarter of fiscal 2019.
Banking Sector Performance
o FY 19 credit growth touches double digits at 12%.
o PSBs lending to large corporates is muted due to capital
constraints.
o Credit to industry grew by 7%, of which large industry
grew by 8.2%, followed by medium industries 2.6% and
micro and small by 0.7%. Under services growth of 18%,
maximum growth was observed under NBFC with 29%.
Personal loan segment contributed 16% growth, of which
credit card 28.6%, housing 19% followed by 6% on vehicle
loan.
o Bond yields have eased mainly because of the central
bank’s bond purchases. Presently G-sec yield stands
at 7.36% less than the 7.90% of Q1 18-19. Hence going
forward, treasury earnings is slated to support operating
profit growth to the PSBs.
Challenges & Way Forward
o Leveraging the global economic headwinds along with
strong domestic demand and investment coupled with
speedy resolution for bad assets will enable economic
growth in general and banking sector in particular. The
recovery rate for the 94 cases resolved through IBC by
5
fiscal 2019 is 43% compare with 26.5% through other
mechanisms. Recovery from NPA through IBC will
enhance avenues for interest income.
o The implications of the US decision to end sanctions
waiver to India on import of Iranian oil is expected to
result in higher oil prices with the Rupee estimated to be
under pressure and dollar outflows to increase as Iran
has been one of India’s top suppliers of crude oil over
the years. In 2018-19, 10.9% of India’s crude demands
were met by imports from Iran. India imports 84% of its oil
requirements and hence domestic prices are dependent
on international market.
o Trade frictions between US and China remain a key
monitorable.
Outlook for Banking Sector
The projected upward trajectory of the Banking sector is
predicated on the reversal of two of the biggest challenges faced
by the sector viz. asset quality and credit offtake. The Insolvency
and Bankruptcy Code has been a game changer for the sector
as it has shifted the balance of power from the borrower to the
creditor and instilled credit discipline. For the banking sector,
Gross NPAs are estimated to have declined 100 bps to around
10% by March 2019 from 11.5% at the end of fiscal 2018. Bank
credit is expected to grow 14% in fiscal 2020 compared with
13% in Fiscal 2019 driven by strong growth in retail banking
and services while corporate credit is expected to see a gradual
pick-up. Recapitalisation of Public Sector Banks with some of
them coming out of PCA is also expected to benefit the sector,
as per CRISIL outlook.
¾ Business and Financial Performance Highlights of
your Bank – 2018-19
¾ Total business stood at Rs. 3,74,530 crore as on
31st March 2019 as against Rs. 3,67,831 crore as on
31st March 2018
¾ Total deposits stood at Rs. 2,22,534 crore as on
31st March 2019 as against Rs. 2,16,832 crore as on
31st March 2018, by reducing high cost deposits and bulk
deposits and increasing retail term deposits with a view to
reduce the cost of funds and have a stable broad based
deposit profile.
¾ Gross Advances stood at Rs.1,51,996 crore as on
31st March 2019, as against Rs. 1,50,999 crore as on
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6
 31st March 2018. The Bank has consciously rebalanced
its credit portfolio with RAM’s (Retail, Agri and MSME)
share of total domestic advances improving from 66.14%
as on 31.03.2018 to 67.20% as on 31.03.2019.
¾ Operating Profit of the Bank increased by 38.71% to
Rs. 5033.87 crore for the year ended 31.03.2019 as against
Rs. 3629.08 crore for the year ended 31.03.2018. IOB’s
operating profit of Rs.5033.87 cr is the highest in its
history.
¾ Net Loss for the year ended 31.03.2019 decreased by
40.66% to Rs. 3737.88 crore as against Rs. 6299.49 crore
for the year ended 31.03.2018 mainly due to provisions of
Rs. 8772 crore made during the year.
¾ While Total Income for the year ended 31.03.2019 is
Rs. 21838 crore as against Rs. 21662 crore for the year
ended 31.03.2018, Interest Income stood at Rs. 17631
crore as against Rs. 17915 crore for the corresponding
periods. Non Interest Income registered a growth of
12.28% and improved to Rs. 4206 crore for the year
ended 31.03.2019 as against Rs. 3746 crore for the
previous year.
¾ Total Expenditure declined by 6.82% from Rs. 18033 crore
for the year ended 31.03.2018 to Rs. 16804 crore for the
year ended 31.03.2019.
¾ Gross NPA as at 31st March 2019 is at Rs. 33398 crore
with ratio of 21.97% as against Rs. 38180 crore with ratio
of 25.28% as on 31st March 2018. GNPA reduced by
331 bps from 25.28% as at March ’18 to 21.97% as at
March ’19.
¾ Net NPA is Rs. 14368 crore with ratio of 10.81% on
31.03.2019 as against Rs. 20400 crore with ratio at
15.33% as on 31.03.2018. NNPA reduced by 275 bps
from 13.56% as at March ’18 to 10.81% as at March ’19.
¾ On the Recovery front, the Bank has performed well
by clocking recovery of around Rs. 14669 crore for FY
2018-19 as against Rs. 15496 crore for FY 2017-18.
¾ The Bank was able to improve CASA ratio to 38.30%
(Domestic 38.72%) as on 31.03.2019 as against
36.75%(Domestic 37.43%) as on 31.03.2018.
¾ Provision Coverage Ratio has improved to 71.39% as on
31.03.2019 from 59.45% a year back.
¾ Cost to Income Ratio is 46.93% for the year ended
31.03.2019 as against 60.61% for the year ended
31.03.2018, which is the measure of efficiency.
¾ Non Interest Income to Total Income improved by 196 bps
from 17.30% for FY 2017-18 to 19.26% for FY 2018-19
¾ NIM stood at 2.08% for the year ended 31.03.2019.
¾ Average Cost of Deposit is 5.39% for the year ended
31.03.2019 as against 5.49% for the year ended
31.03.2018.
7
¾ Highest operational efficiency
“Productivity is always the result of a commitment to
excellence, intelligent planning and focused effort”
The Bank with 9,435 touch points (3280 branches, 3450
ATMs & 2705 IOB Mitras) showcased better operational
efficiency measured in terms of operating profit. During the
82 years of its banking operations, the Bank benchmarked
highest operating profit to the tune of Rs.5034 crores for
FY 18-19, with business mix of Rs.3,74,530 crores. The
number of loss incurring branches has reduced from
21.95% in FY15 to 4.79% in FY19.
The outcome of the turnaround initiatives taken by
the Bank on top line asset diversification and liability
management is reflected in the P&L of the Bank.
Focused approach on diversifying the assets with thrust
on Retail, Agri & MSME portfolio enabled the Bank to
improve the RAM share in domestic advances from 58.74%
in March’17 to 67.20% in March’19. This rebalancing
effort along with capital conservation and risk mitigant
measures like limiting the exposure to stressed sector
within the threshold, lending to AAA rated borrowers
and government guaranteed accounts, concentration of
low risk weight assets portfolio like jewel and housing
loan segments helped the Bank to substantially reduce
the risk weight assets from Rs. 1,69,148 crore in
FY 17 to Rs. 1,22,585 crore in FY 19, while the average
credit moved around Rs.1,63,451 crores. The RWA to
Advances ratio declined from 107.89% to 80.65% and
credit risk weight assets to advance ratio from 88.44% to
62.41% for FY 19 over FY 17.
Bank increased the customer base by adding 49762
Current A/c customers and 19,05,816 Savings A/c
customers with higher CASA, from 28.72% in Mar’16 to
38.30% in Mar’19 thereby reducing the cost of deposits
from 7.11% to 5.39% during the corresponding period.
Under Asset Quality management, the Bank showed quarter
wise consistent improvement in reducing the GNPA & NNPA
and upgraded the provision coverage ratio from 53.63% in
FY 17 to 71. 39% in FY19. Automation of NPA administration
like non discriminatory and non discretionary OTS
settlement, close monitoring of SMA accounts and
identifying the early warning signal accounts helped the
Bank to contain fresh slippages and improved the NPA
recovery.
The Bank’s administrative expenses are well contained
through rationalization of branches & ATMs, concept of rent
audit, space audit and cleanliness audit enabled reduction
of rent and improved the ambience. Bank consistently
augmented the avenues of other income through fee
based income and recovery from written off accounts.
Fee Based Income is one of the major revenue drivers
in the current banking environment. Our Bank has made
various efforts to improve the fee income by a focused
approach and it is noteworthy to mention that for the FY
2018-19 our Bank earned a Fee Based income of Rs.1426
crores which is 33.92% of Non-interest Income.
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8
 These turnaround initiatives have enabled the Bank to attain highest operational efficiency reflecting the improvement in cost
to income ratio from 57.37% in FY 17 to 46.93% in FY 19. With this benchmark operating profit and speedy recovery from
NCLT resolution accounts, the Bank is on target to achieve positive ROA.
Continuous improvement in all business parameters constantly despite constraints for the last 3 years enabled the Bank to
achieve this milestone. The Bank is on course to sustain and even improve its performance to bring value to all stake holders
in FY 20.
Turnaround Initiatives
As you are aware the Bank has been working towards the goal of turnaround in the last two years by addressing various structural
issues and evolving strategies to improve the financials. The outcomes of the steps taken by the Bank towards this end are detailed
below :
Issues Turnaround Initiatives Outcome
High Bulk Deposits and High Cost of Reduction of Bulk Deposits by Bulk Deposits reduced by 68% in FY 19 over FY 15.
Deposits rebalancing with Retail Term Deposits CASA improved to 38.30% as on 31.03.2019 and
and CASA. Retail Term Deposit grew by 18%
Maintaining the Total Deposits
High Concentration on Corporate Rebalancing the portfolio by reducing RWA reduced to Rs. 1,22,585 crore as on 31.03.2019
Book led to higher risk weight assets. the RWA to conserve capital and RWA to Total Advances declined from 108.56% in
increasing RAM. March ’15 to 80.65 % as of March ‘19.
Automation of loan processing to Credit Risk to Total Advances reduced from 94.57%
achieve standardisation of loan delivery in March ’15 to 62.41% as of March ‘19.
and improving TAT
RAM portfolio increased from 48.83% in March ’15 to
67.20% as of March ‘19
Concentration on stressed sector Bank has evolved a policy of not taking Exposure to stressed sector is well contained.
fresh exposures in stressed sectors,
below hurdle rate accounts and BB and
below rated accounts. Bank has also
exited from accounts in the stressed
sectors, wherever feasible.
Branch Expansion was curtailed as Branches & Admin Offices are merged/ The number of branches and admin offices stood at
per PCA guidelines. The Bank had closed with a view to control the 3280 & 64 respectively as of March 2019. The Business
3381 domestic branches and 171 expenses and improve efficiency. per employee improved to Rs. 14.21 crores as of
Administrative Offices as of March March ’19 as against Rs. 13.10 crores as of March
2015. ’18.
ATM Rationalisation Shifting of ATM services from vendor Bank has contained operational expenditure and
High cost of operational expenses, based to Bank operated ATMs, improved ADC performance.
ATM outsourced with low availability. improving uptime / availability

Staff Recruitment was not initiated as Succession Plans and Training Intensive Credit training was given to employees.
per PCA guidelines. Staff strength as Programs were initiated at various levels Staff strength stands at 26349 as on 31.03.2019.
on 31st March 2015 stood at 32118 to bridge the gap of talent pool exit. Leadership Training was imparted to 81 GMs and
DGMs at TISS, Mumbai in FY ’19.
Cost to Income Ratio stood higher at Decline in Interest Expenditure, Increase Cost to Income Ratio for the Bank reduced by 1368
55.84% for FY 2014-15 in Non Interest Income, reduction in bps from 60.61% as at March ’18 and stood at
Staff expenses and containment of 46.93% for FY 2018-19.
Other Expenses
Operating Profit as on March 2015 Rationalisation of Branches & ATMs, Operating Profit increased to Rs.5034 crores as of
stood at Rs. 3,322 crores Reduction in Bulk and Increase in 31.03.2019.
CASA, Curtailing of Recruitment, Improved NII & NIM.
Automation of Revenue Channels etc.
NPA provisions stood at Rs. 3529 Bank focused on recovery from 100% Provisions increased to Rs.9881 crores for 2018-19.
crores in FY 2014-15 provided accounts. Continuous The increase in provision was due to early recognition
monitoring of Slippages, OTS of NPA, Other Debits, Regulatory Changes like AQR
settlements through technology & Withdrawal of Restructuring schemes.
platforms, initiating Sale to ARC of Credit cost (fresh slippages) well contained from
Consortium/Sole Banking accounts 1.12% to 0.53%.
were some of the measures taken.

9
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10
 Issues
Net Loss during FY 2014-15 stood
at Rs.454 crores peaked to Rs. 6299
crores for FY 2017-18. The higher loss in
FY 2017 & FY2018 could be attributed
to AQR and Feb’12 circular.
Gross NPA stood at Rs. 14922 crores
for FY 2015 which increased to
Rs. 38,180 crores in FY 2018. Slippages
for the same period increased from
Rs. 12,016 crores to Rs. 16,379
crores. The increase was due to
revised regulatory guidelines and early
recognition of NPA
Turnaround Initiatives Outcome
The efforts taken towards increase Net Loss was contained to Rs. 3738 crore for
in operating profits helped the Bank 2018-19 with reduction by 40.66% over the previous
to reduce the losses and provide for year
higher loan loss.
Arresting of slippages and robust Provision Coverage Ratio increased from 59.45%
recovery channels are initiated through as at March ’18 to 71.39% as at March ’19. GNPA
automation. Entire OTS process has reduced by 331 bps from 25.28% as at March ’18
been automated for standardized to 21.97% as at March ’19. NNPA reduced by 275
compliance of non-discretionary bps from 13.56% as at March ’18 to 10.81% as at
and non-discriminatory OTS policy March ’19.
of the bank. NPA data management
automated with CBS integration,
leading to monthly NPA recognition &
brought focus to recovery.

Further, the Bank has taken several other positive steps in the
course of implementing its Turnaround Strategy including the
following :
Stabilisation of Technology
¾ Technology platform is stabilized by active in house help
desk team and taking over of critical functional areas from
vendors.
¾ STP established with all critical areas, unified GL for all
domestic operations.
¾ Entire bank brought under Finacle including overseas
centres.
¾ Strong MIS with analytical tool established.
¾ Bank’s sustained efforts towards digitalization have
earned it laurels
Internal Controls
¾ Risk Based Audit/concurrent audit is conducted through
standardized software. Management audit has been
revamped and is conducted for each department at
central office with specific time line along with risk based
template.
¾ Off-site surveillance unit established
¾ Concurrent functional audit and information security audit
introduced at data center
¾ Entire FOREX operation centralized and monitored
through concurrent audit system.
¾ OCAS (Offsite Control And Surveillance) established
which generates alerts. Manuals introduced for audit.
Credit Monitoring

¾ Customer grievance redressal mechanism introduced
with total automation has been acknowledged as best
practice among the PSBs.
Governance
¾ Introduced policies in all areas and ensured timely
renewal of those policies.
¾ Institutionalized reforms by regular review at board level.
¾ Risk Management has been strengthened with constant
and continuous review through various Executive level
and Board Committees as well as oversight by Board.
¾ Established Global ALCO, Global Compliance, Global
credit monitoring review and Global internal control
review.
Compliance Function
¾ Credit Monitoring Department established at Zonal
Offices. The team also correlates various audit reports
like CO Inspection Report, Legal Audit, Long Form Audit
Report, Stock Audit etc for credit related observations.
¾ Early warning signal is monitored through a strong
template based online portal wherein the transaction
related signals are captured automatically.
¾ SMA accounts are allotted to every employee at branch for
follow up and recovery and a special online color coded
portal introduced, which is updated on a daily basis.
¾ Governance and monitoring system introduced for review
of EWS (Early Warning Signal) and red flagging alert.
Risk Management
¾ Introduced 11 risk rating models as against the earlier 4
models operating in the Bank.

¾ Compliance function is monitored through automated
tool.
¾ Chief Compliance officers report to Executive Director and
effectively participate in policy clearance and governance
meetings including PCA.
¾ The compliance function is reviewed regularly by the
Board
¾ Reduced the credit and operational risk by automating
end-to-end digitalisation of loans under MSME and
Agriculture up to Rs.10 lakhs and retail with risk scoring
model for retail and risk rating model for MSME and
agriculture
¾ Bank complied with minimum regulatory capital
requirement and leverage ratio after the capital infusion
by the Government of India.

11
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12
IT Security
¾ State of art Security Operation Centre (SOC) established
and correlation rules are continuously defined and
updated.
¾ Appointed Security Integrator and ensured independence
of CISO
¾ Specialist officers are recruited for Information Security
and Information System audit.
Initiatives on Top Line & Bottom Line Growth
Liability Management
¾ Bank is rebalancing the liability side by focusing more on
CASA and Retail Term Deposits and reducing the bulk and
high cost deposits. As such Cost of Deposits declined.
¾ 85% of the branches are having more than Rs.10 crore
business mix. Introduction of new deposit products like
IOB Saral, IOB Suvidha, IOB Eighty Plus etc. has enabled
Retail Term Deposit growth.
Asset Diversification
¾ Improved Net Interest Income with increase of RAM and
reduction of high risk corporate loan.
¾ Improved the percentage share of non-interest income
to total income, with consistent performance under fee
based income and realization from technically written off
NPA account.
¾ Increased the share of RAM in the overall credit portfolio
by exiting high risk corporates.
¾ Contained exposure to stressed sector continuously.
¾ Created large pool of credit and forex trained manpower.
¾ Operating profit has improved without much expansion in
topline growth.
¾ The efficiency metric of cost to income ratio has reduced
considerably.
Operational Efficiency
¾ The Bank had 772 loss incurring branches in March
2014 which was one of the immediate effects of rapid
branch expansion. The continuous follow up from the
administrative layers and efforts taken at the branch
level has helped to reduce the number of loss incurring
branches from 772 branches in March 2014 to 157
branches in March 2019. Higher thrust on Retail and
MSME lending is laid down to improve the yield level apart
from diversification of the risk. The Bank would continue
to focus closely on the loss incurring branches towards
reporting a profitable trend.
¾ Bank reduced RWA by Rebalancing of advances portfolio
by focusing on RAM, offloaded advances by way of selling
higher risk weighted advances through IBPC, capturing
available mitigants (financial collateral, margin etc.) for
all accounts in the account master and elimination of the
expired LCs/LGs.
¾ Bank had closed/merged 248 Branches/offices with
a view to improve efficiency in operations, reduce the
operational expenditure and ensure optimum utilization of
human resources.
13
¾ Under ATMs rationalization plan 903 Opex Model
ATMs under the Managed Service (MS) model (as on
31.03.2018) were converted to CAPEX /closed due to
low hits. Due to this, dependency on vendors has been
minimized
¾ Expenditure Control includes renegotiation of Rent
and surrender of excess space in Branches, Shifting of
Branches to premises with lesser rent, reduction in lighting
expenses by sourcing of electricity from non-conventional
sources like Solar power & usage of energy efficient
electricity products, Vehicle expenses were reduced,
reduction in issuer charges (Charges payable by IOB to
other Banks for our customers using our debit cards in
other Bank ATMs), introduction of green pin, reduction in
Visa switching fee.
NPA Management
¾ Strong NPA data base with appropriate analytical tools
integrated with CBS.
¾ Entire OTS process has been automated for standardized
compliance of non-discretionary and non-discriminatory
OTS policy of the bank. This doubled the number of OTS
settlements in the current year over the previous year.
¾ NPA slippage has been continuously reduced and at
present recovery achieved is substantially higher than
slippages
¾ GNPA and NNPA is consistently reducing since Q2
of ‘18 (except Q4 ‘18 due to RBI revised guidelines on
restructured accounts).
¾ Retail GNPA of IOB is one of the least among PSBs
Housing Personal Education
loan loan loan
PSB Average 1.9 2.6 8.6
IOB 1.9 1.3 7.4
Capital Position
¾ The Bank’s ESPS issue of upto 18.24 crore equity shares
at a discounted price of Rs. 11.90 was fully subscribed and
a grand success, which is an indicator of the commitment
and confidence in the Bank by its employees. In this
process the Bank augmented its capital funds to the
extent of Rs. 260.47 crores. IOB has scripted history by
becoming the first Public Sector Bank to record 100%
subscription to ESPS.
¾ Bank had issued Basel III Tier II Bonds aggregating
Rs. 300 crore to shore up its Tier II capital.
¾ The realization from Sale of Non-Core Assets is Rs. 76.87
crores which improved the CRAR by 6 bps
¾ Government of India infused capital to the extent of
Rs. 5963 crore (Rs. 2157 crore in July ’18 and Rs.3806
crore in February ’19).
Digital Initiatives
¾ The Bank has launched “Bank on Wheels” in 14 districts
spread across Tamilnadu, Kerala and Vijayawada Region.
This facility will enable the public especially Senior
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14
 Citizens to conveniently avail of doorstep banking facility
available at identified locations of the Bank’s lead districts.
Account services such as account opening, enrolment of
customers in social security scheme, passbook printing
and other financial inclusion activities is being offered.
¾ Integrated Online processing of MSME Mudra Loans upto
Rs.10 lakhs end-to-end from application to documentation
stage reducing the Turn Around Time for processing.
¾ End to end CTS Solution developed in-house which will
result in substantial savings to the Bank.
¾ Implementation of EASE parameters in Internet and
Mobile Banking for enhancing customer service and
delivery.
¾ BHIM IOB UPI is the application launched by the Bank
using Unified Payment Interface. Registration grew from
8.11 lakh to 28.50 lakh, transactions have surged to new
heights touching 110.56 lakh in March 2019.
¾ Bank has launched Bharat Bill Payment System
(BBPS), an integrated bill payment system, which offers
interoperable bill payment service to customers online.
Bank has extended BBPS facility for Corporate Users
through Net Banking.
¾ EASE : Features added to Internet Banking and Mobile
Banking to facilitate customers to send their request for
various services. Four Regional languages, in addition to
English and Hindi have been added in Mobile Banking.
¾ IOB-Pay: The in-house developed integrated online
payment gateway platform offers fee payments, merchant
payments, donations for charitable institutions etc.
More than 100 Institutions have been registered in this
application. IOB has implemented its online payment
system IOB PAY in the website of Tamil Nadu Hindu
Religious & Charitable Endowments Department (https://
tnhrce.gov.in) for collection of various receipts of temples
such as Online Donations, Annadhanam etc. Similar
arrangement has also been entered into with Directorate
of Medical Services for various types of collection
through digital mode.
¾ Bank has completed necessary certification for NCMC
(National Common Mobility Card) as an Issuer and IOB
is the first Bank which has been certified on International
platform with multiple CVN functionality (NFC).
¾ On boarding of the new technology platform
psbloansin59minutes.com implemented in the Bank
using Analytics facilitating MSME customers in line with
Government of India Initiatives
¾ The internet banking registrations grew from 15.52 lakh
to 19.25 lakh while mobile banking registrations grew by
241% from 6.62 lakh customer to 16 lakh customers. New
user interface of mobile banking application with flavour
of four additional languages was accepted well by the
customers.
¾ Nine additional features were added in Internet Banking.
The mobile banking platform, “IOB-Mobile”, has been
upgraded to have a youthful look and feel with enhanced
features.
15
¾ The “IOB-Nanban” application has rich features for
customers including downloading of Interest Certificates.
¾ “IOB Sahayak” was launched for staff to follow up with
NPA borrowers and for tracking the performance of the
staff in such follow up.
¾ Awards and Accolades won by IOB:
Some of the awards that the Bank has achieved in
validation of its improved performance are as follows :
™ Vigilance Excellence Award 2018
The Central Vigilance Commission has awarded our Bank
with “Vigilance Innovation Award” with an Excellent
Grade for various initiatives taken in the Bank such as
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compliance reports
The award was presented to our MD & CEO and CVO by
our Hon’ble President of India in the presence of CVC and
VCs at Vigyan Bhavan, New Delhi on 31.10.2018.
™ Enhanced Access & Service Excellence (EASE)
Awards
In January 2018, Government and Public Sector Banks(PSBs)
jointly committed to and launched a common PSB Reforms
Agenda for “Enhanced Access & Service Excellence (EASE) “,
comprising 30 Action Points across the following six themes:
1. Customer Responsiveness
2. Responsible Banking
3. Credit Off-take
4. PSBs as Udyami Mitras for MSMEs
5. Deepening Financial Inclusion & Digitalization
6. Developing Personnel for Brand PSB
Progress of PSBs on the Reforms EASE Agenda has been
rigorously tracked through a first of its kind EASE Reforms Index
by Boston Consulting Group (BCG) in consultancy with DFS/
IBA. The EASE Reforms Index measures PSB performance
on 140 metrics against respective benchmarks and offers a
mechanism for continuous improvement through transparent
reporting on forward-looking PSB reform priorities.
I am pleased to inform you that Indian Overseas Bank (IOB) has
been awarded
1. Winner for “Reforms Excellence” among all Public Sector
Banks
2. Winner for theme “Deepening Financial Inclusion and
Digitalization”
Honorable Union Minister for Finance & Corporate Affairs
Shri. Arun Jaitley gave away the awards at the event
organized by IBA at Delhi on 28.02.2019 and the awards
were received by MD & CEO Shri R Subramaniakumar
and ED Shri. Ajay Kumar Srivastava.
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I would also like to make a mention that our Centralized
Standardized Public Grievance Redressal System (SPGRS)
has been identified as one out of 8 Best Practices among PSBs
at the Event’s presentation.
Overall, IOB ranked at 7th Place with 66.7 score as on December
2018 over March ’18 amongst 21 PSBs.
Our Bank has further improved the rank to 5th place with a
score of 75 as on March 2019.
™ Best Use of Data and Analytics for Business Outcome
Award
Our Bank has been adjudged the ‘WINNER’ in the category of
the Best Use of Data and Analytics for Business Outcome
amongst Medium Banks by Indian Banks’ Association in the
IBA Banking Technology Conference, Expo & Awards 2019 held
in Mumbai on 20th February 2019.
Going Forward
The Bank’s focus will continue to be on the following :
Ensuring a stable operating environment.
Maintaining a robust policy framework & establishing
various business verticals to reduce NPA and increase the
RAM share of credit.
Conserve capital & reduce risk weight to protect interest
income and to meet the provision requirement.
Build brand image and improve brand IOB recall value
with improved customer service and enhanced digital
based dispensation.
Establishing an organisation with consistent business
growth, with strong internal controls coupled with robust
systems & procedure powered by technology.
Institutionalise the corporate strategy with Board
oversight and build strong compliance culture, supported
by appropriate policies and procedures.
Implement good HR practices with fair & transparent
policies and automate the HR management functions.
17
Build knowledgeable work force with appropriate
continuous training and clear career path & succession
planning.
Introduce differentiated business strategy leveraging the
Bank’s strength for profitable business enhancements
and implement end to end automation including Straight
Through Processing of delivery, documentation and
monitoring
Establishing an independent robust risk management set
up supported by appropriate tools, manpower etc and to
create risk assessment culture in the Bank.
Upgrade the touch points (both branch and alternative
delivery channels) for efficient & consistent delivery of
service and to make every unit as a profitable unit.
Acknowledgements:
It is with a sense of accomplishment and pride that I look back
on my tenure as MD & CEO of the Bank as the time to hand
over the baton draws near. I take this opportunity to thank the
members of the Board who have given generously of their
time and expertise, the Government of India and the Reserve
Bank of India for their valuable support and guidance. I thank
all our valued shareholders and customers for their continued
support and trust. I also place on record my appreciation for
the dedication and commitment of our staff members which
has enabled the Bank to go from strength to strength especially
when the going was tough. It has been a significant learning
curve for us all. “The future belongs to those who prepare
for it today.”
With warm regards,
Yours sincerely,
R Subramaniakumar
Managing Director & Chief Executive Officer
¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÓ¶ÅÐÀŘÅÅ NOTICE TO SHAREHOLDERS

hˆÅŒÃ–ŢŶÅÐÅÆÀňÅÅÆiÅl ÅÅwÅňÅÅ¸× ÅÆiÅleÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅliÅÓl¯ÅӠޅÅÅ¢iÅlÅÔ iÅlÅÊ Notice is hereby given that the 19th Annual General Meeting
of the shareholders of INDIAN OVERSEAS BANK will be held
®ÅÅË®ÅÅÅƵťiÅl¶ÅşÅŘ ÅœÅׁiÅlºÅΤ®ÅÅ¢Åƌ˜ÅÅÄiÅlwÅάÅÅe¥iÅlÅÓ¶ÅΜŸœÅwÅÓ
on Wednesday, 10th July 2019 at 10.00 a.m. at Sathguru
¶ÅŒÃºÅΣyÅŘÅŘÅČŸÅ۬ŘÅÅ¢ŒºÅ‡Å¶ÅžÅÅ}ÅÊ}ÅÊiÅÓl¢ÅӃdŬŮޛÅÓ}ÀÅӚÅ× Gnanananda Hall, Narada Gana Sabha, 314 TTK Road,
ŸÅÔÅƘş˜ÅÅƬÅÅÆnňÅiÅlÅ ÅÅÖ¸ÓˆÅÎdÅÅ ÅÅÓÅÆwňÅiÅlÅÊwÅÅhºÅÅÊ Alwarpet, Chennai 600 018, to transact the following businesses:
 ŸÅÅÀÅ¥ ˆÅiÅlœÅØiÅliÅÓl¬ÅÓnÅśŢÅÊÅÆÂňňÅάŘśŊÅŸÅÅÀÅ¥ iÅlÅÓ 1. To discuss, approve and adopt the audited Balance Sheet
¶ÅŸÅśˆÅ®ÅµÅ¥ iÅÓlÅƬÅhœÅØiÅliÅÓl¬ÅŞÅh®ÅÄ ¸ÅÅƘŬÅÓnÅÓ¬ÅÓnÅÅ–Å¢ÅiÅl®Å¢iÅlÅÊ of the Bank as at 31st March 2019, Profit and Loss account
ºÅe¥œÅØiÅliÅlÅÊdÅ®ÅÅƅÅiÅÓlŒÅעŘÅœÅØiÅliÅlÅʺÅÅƈÅÅÆ®ÅÅƅÅdÅÅ×¢iÅlÅ ÅÅ֛ŢÅƘŌӯÅiÅl of the Bank for the year ended 31st March 2019, the report
ŸÅă¬ÅiÅlÅÊ ÅÆ¢›ÅÅÓ}¥ dÅÅ×¢iÅÓl¬ÅÓnÅÓ ®ÅˆÅάŘśŊśŢ¬ÅÓnÅśŢÅÊÂÅiÅlÅÔ iÅlÅÊ ÅÆ¢›ÅÅÓ}¥ of the Board of Directors on the working and activities of
the Bank for the period covered by the accounts and the
›Å¢ÀÅÀÅÅ¥ŸÅÄwÅТÅÊh®ÅÄf˜¸ÔdśŘÅŘÅÓiÅÓlÅƬÅhß
Auditors’ Report on the Balance Sheet and Accounts.
 dÅźÅÓdÅÅ×¢¯ÅӠŢÅÔiÅlÅÓÝwÅÅ¢ÅÊiÅl¢˜ÅÅß 2. To issue further shares:
ÅƘş˜ÅÅƬÅÅÆnňŶÅÄiÅl¬›ÅÅԛŢÅƮůÅӵŶÅÄiÅl¬›ÅiÅÓl¤›ÅŸÅÔÅÆ®ÅÀÅÅ¢iÅl¢˜ÅÅdÅÅ×¢f›Å ÅΉÅl¶ÅŸÅ„ÅÓ To consider and if thought fit, to pass, the following Resolution
wÅŘÅӛŢ›ÅÅÅÆ¢ˆÅiÅl¢˜ÅÅ as a Special Resolution:

¶ÅÄiÅl¬›Å ÅÆiÅl ÅÅ ºÅ ÅÅ ¸× ÅÆiÅl œÅØiÅliÅlÅ¢ÅÊ iÅÄl›Å˜ÅÅÊ f›ÅkÅlŸÅÅÔ iÅlÅ dÅwÅ¥˜Å dÅÅ×¢ dÅĈއÅ "RESOLVED THAT pursuant to the provisions of The Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1970
dÅÅƅÅÅƘŠşÅ  dÅÅƅÅÅƘŠşÅ ¢Åµ}ªÅÊ ÅiÅÒlˆÅ œÅØiÅl ›Å¨œÅąŘÅ dÅÅ×¢ ÅÆ®ÅÅƮŅÅ ›Å¨Å®Å…ÅŘÅ (Act), The Nationalised Banks (Management and Miscellaneous
 ÅÅÓwŘÅÅdÅÅ×¢eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl¯ÅӠŢdÅÅ×¢œÅׁiÅÔlÅÆ®ÅÅƘŠşŘÅ Provisions) Scheme, 1970 (Scheme) and the Indian Overseas
ÅÆ®ÅÅƘŠşÅˆÅiÅl Å‹ÅŶÅįÅÅÓÅƅňÅiÅÓl›Å¨Å®Å…ÅŘÅÅÔ iÅÓldŘÅÎkÅlŸÅŸÅÔ dÅÅ×¢e¶Å¶ÅĜÅąÅŸÅÔ Bank (Shares and Meetings) Regulations, 2003 as amended
žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅldÅÅ¢œÅÅÊdÅÅežÅÅ¢ˆÅ¶Å¢iÅlÅ¢wÅÅÊdÅÅÓdÅÅežÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅ upto 2008 (Regulations) and subject to the approvals, consents,
dÅÅ×¢ÅÆ®ÅÅƘşŠÅœÅÅӃ¥ ¶ÅӜÅÅÊdÅÅ×¢ ÅÅÅÆiÅl¶ÅÅÊ hÓ¶ÅÓ dŘ Å›Å¨ÅÅƅÅiÅlÅ¢ÅÊ –Å¢ÅwÅÅÓ ®ÅÅÄÅÆ~ˆÅ permissions and sanctions, if any, of the Reserve Bank of India
(“RBI”), the Government of India (“GOI”), the Securities and
¸ÅÔiÅÓldŘÅΟÅÅӌ˜ÅÅԶŸŸÅÅƈŠÅÅÔ dÅÅ×¢ŸÅÄwÅÐÅÆ¢ ÅÅÔ iÅlÅÊ ¯ÅˆÅ¥ ›Å¢dÅÅ×¢f˜ÅdŘÅΟÅÅӌ˜ÅÅÔ iÅlÅÓ
Exchange Board of India (“SEBI”), and / or any other authority
ŸÅÄwÅТÅÊ ›Å¨ŒÅ˜Å iÅl¢˜ÅÓ ŸÅÔ f˜ÅiÅÓl –ŢŠ Å‹ÅÅ ÅƘŅÅÅ¥ÅÆ¢ˆÅ ÅƘŜÅąŘÅÅÔ ¯ÅˆÅÅÖ dÅÅ×¢ ¶ÅįÅÅӅŘÅÅÔ as may be required in this regard and subject to such terms,
iÅlÅÊ ¯ÅˆÅ¥ ›Å¢ ÅÆwŶśŢ œÅØiÅl iÅlÅ ÅƘŌӯÅiÅl ŸÅă¬Å ¶Å¸ŸÅˆÅ ¸× dÅÅ×¢ wÅÅÓ ÅÆ®ÅÅƘŠşÅÅÔ iÅÓl conditions and modifications thereto as may be prescribed by
dŘÅΛÅŬŘÅ ŸÅÔ ¸×   Å‹ÅÅ ¶ÅӜÅÅÊ ›ÅÐÜwÅÅÊ iÅlÅ ÅƘźťŸÅ˜Å dÅÅ×¢ ›Å¨iÅl}ÅÊiÅl¢‡Å iÅlÅÊ dśÅÓÂÅÅhÄ them in granting such approvals and which may be agreed to by
ÅÆ®ÅÅƘŠşŘÅdÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşÅwÅ׶ÅÅÅÆiÅldÅÅwÅiÅlÅÊÅƈÅÅƋňÅiÅl¶ÅįÅÅÓÅƅňÅ the Board of Directors of the Bank and subject to the regulations
¸× Åƌ¯ÅÅÅƘŌկÅÅÔ  ÅÅƌ iÅlÅÓe¥ ¸× iÅÓl dŘÅΛÅŬŘÅ ŸÅÔ ¸× ˆÅ‹ÅÅ  Å¸ ÅÆiÅl  ÅÓ Åƌ¯ÅÅÅƘťŒÓ¯Å viz., SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018 (ICDR Regulations) as amended up to date/
œÅØÅÆiÅÄlºÅ ÅÆ®ÅÅƘŠşŘÅ dÅÅƅÅÅƘŠşÅ  œÅÅÊdÅÅ¢dÅÅƅÅÅƘŠşÅ žÅÅ¢ˆÅÅÊ Å ›Å¨ÅƈŞÅÐÅƈÅ h®ÅÄ
ÅÆ®ÅÅƘşŠÅœÅÅӃ¥dÅÅƅÅÅƘŠşÅdÅÅ×¢dŘ Å¶ÅžÅÅÊ¬ÅźÅÐiÅlŘÅИÅÅÔ®ÅdŘ Å¶ÅžÅÅʶÅĜÅÄÅƅňÅ
›Å¨ÅÅƅÅiÅl¢‡ÅÅÔwÅÅӶşŠŶşŠśŢwÅÅ¢ÅʸÅӈÅÓ¸ØiÅÓlˆÅ¸ˆÅžÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅl¶ÅӜÅÅÊ
iÅlÅÊdÅÅƅŶÅÐÀŘÅÅdÅÅÔ›ÅÅÆ¢›ÅŠÅÅÔdÅÅ×¢¶›Åµ}ÅÊiÅl¢‡ÅÅÔ–Å¢ÅÅƘŅÅÅ¥ÅÆ¢ˆÅ¸ØdÅÅ×¢wŸÅÜœÅØiÅliÅÓl
e¥ÅÆiÅm®Å}ÅʯÅӠŢÅƘŅÅÅ¥ÅÆ¢ˆÅ¸Ø®Å¸ÅÜiÅÓl¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅÅÔiÅÓl¶ÅŋŸÎh ÅÐÅƘśÅlÅ۟ťÅƬÅÅƶ}ĺÅ
iÅl¢Å¢ iÅlÅÊ ¯ÅˆÅ¥ ›Å¢ ®ÅÓ dÅŅÅÅÅÆ¢ˆÅ ¸Ø œÅØiÅl iÅÓl ¯ÅӠޅÅÅ¢iÅlÅÔ iÅlÅÊ hˆÅŒ‹Å¥ ®Å hˆÅŒÃ–Å¢Å
¶Å¸ŸÅÅƈÅœÅÅӃ¥ iÅÓlÅƘŌӯÅiÅlŸÅă¬ÅdÅźÅÓ ¶ÅÓ ÅÆwŶÅÓ
œÅÅӃ¥
iÅl¸ÅwÅÅhºÅÅdÅÅ×¢ÅÆwŶşÅÔ of the Bank be and is hereby accorded to the Board of Directors
hÓ¶ÅÅÊ iÅlÅÓe¥ žÅÅÊ ¶ÅÅƟÅÅƈůÅÅÅƟŬÅ¢¸ÓºÅÅÊ ÅÆwŶÅÓ œÅÅӃ¥ ˜ÅÓ ºÅÅƁˆÅÅÆiÅl ÅŸÅÓ  ÅÅe¶Å¶ÅÄiÅl¬›Å
–ŢśŨŒ‰ÅdÅÅƅÅiÅlÅ¢ÅÔ ¶ÅÅƸˆÅdśŘÅÓ dÅÅƅÅiÅlÅ¢ÅÔ iÅlÅf›Å ÅÅÓºÅiÅl¢˜ÅÓ ¸ÓˆÅÎ œÅŌŸÅÔ ºÅÅƁˆÅ
guidelines, if any, prescribed by the RBI, SEBI, notifications/
circulars and clarifications under the Banking Regulation Act,
1949 (B R Act), Securities and Exchange Board of India Act, 1992
(SEBI Act) and all other applicable laws and all other relevant
authorities from time to time and subject to the Uniform Listing
Agreements entered into with the Stock Exchanges where the
equity shares of the Bank are listed, consent of the shareholders
of the Bank (hereinafter called “the Board” which shall be
deemed to include any Committee which the Board may
iÅl¢ˆÅŸÅÓiÅlÅÓe¶ÅdÅůŠÅ¶ÅÓŒÅÊwÅňÅÅʸ×ÅÆiÅl®ÅÓf¶Å¶ÅÄn ÅÅŸÅÔeÅÆiÅm®Å}ÅʮŢÅʠňÅůÅӠŢÅÔ have constituted or hereafter constitute to exercise its powers
¶ÅÄÅÆÀňźÅ×¢¶ÅÄÅÆÀňÅ›Å¨ÅƈŞÅÐÅƈŠÅÅԮŢÅʠňÅůÅӠŢÅÔiÅlÅʳÅӇÅÅÊhÓ¶ÅӮŢÅʠňÅůÅӠŢÅÔiÅlÅÊ
›Å¨ˆ ÅÓiÅl³ÅӇÅÅÊiÅÓlÅƘźťŸÅiÅlÅʶÅÅʟÅÅiÅm ÅÅ®ÅÓÅƘŢĈŢ¸Ø ÅÅŸÅÅÓÀŘÅÅʠŸؠÅÅdşÅÅÓÀŘÅÅʠŸ×
f˜ÅÅƘŜÅąŘÅÅÔdÅÅ×¢¯ÅˆÅÅÖiÅlÅÓÅÆ®ÅÅƘÅÅƌ¥µ}iÅl¢ˆÅÓ¸ÎhÅÆwŘÅiÅÓldÅŅÅÅ¢›Å¢®Å¢ÅʠňÅůÅӠŢÅÔ
iÅlÅʛŨˆ ÅÓiÅl³ÅӇÅÅÊiÅlÅÅƘźťŸÅ‡ÅÅÆiÅl ÅÅwÅÅhºÅŶÅÓ¶ÅĜÅÄÅƅňÅžÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅl–Å¢Å
including the powers conferred by this Resolution) to create,
offer, issue and allot (including with provision for reservation
on firm allotment and/or competitive basis of such part of issue
and for such categories of persons as may be permitted by the
law then applicable) by way of an offer document/prospectus or
¶ÅŸÅ Å¶ÅŸÅ ÅÅƘŅÅÅ¥ÅÆ¢ˆÅÅƌ¯ÅÅÅƘŌկÅÅÔ iÅÓldŘÅζÅÅ¢iÅlÅÓ ¶ÅÒÅÆwňśŨ¶ˆÅÅÅƮňÅÅƘźťÅƟňÅ
®ÅdÅŜÅÄÅÆ}ˆÅÅƘÅÅƯÀňÅdÅŜÅÄ}˜Å›Å¢dÅÅ¢ÂŇÅiÅÓlÅƬÅh›Å¨Å®Å…ÅŘÅdÅÅ×¢ ÅÅf¶Å¶ÅŸÅ Å
¬ÅźÅÐ iÅlŘÅИŖŢŠŋÅÅdŘÅΟňÅ® ÅÅƉÅl ÅÅÔ iÅÓl›Å¨®ÅºÅÅÖ dÅÅ×¢ÅƘźťŸÅiÅÓlÅÆiÅl¶ÅÅÊ ÅƸ¶¶ÅÓ iÅÓl
such other document, in India or abroad, such number of equity/
preference shares (cumulative / non-cumulative) / securities (in
accordance with the guidelines framed by RBI from time to time,
specifying the class of preference shares, the extent of issue
›Å¨ÅƈŶ›Å…ÅÅ¥ˆŸÅiÅldÅŅÅÅ¢¶ÅÅƸˆÅiÅl¢¶ÅiÅÓldÅÅ×¢ Å¸iÅlŠťÅÆiÅl¶ÅÅʛŨ¶ˆÅŮŌ¶ˆÅÅ®ÅÓwÅ ÅÅ of each class of such redeemable preference shares and the
ÅƮŮŢÅƇÅiÅlÅiÅÓlÝwÅÅÆ¢h ÅÅÅƛÅl¢žÅÅ¢ˆÅdŋŮÅÅÅƮŌӯÅŸÅÔe¶Å›Å¨iÅlÅ¢iÅÓldŘ ÅŒ¶ˆÅÅ®ÅÓÝwÅ terms & conditions subject to which each class of preference
iÅÓlÝwÅÅÆ¢h¸ÅÓºÅňŋÅśŨˆ ÅÓiÅl¯ÅӠŢiÅlÅdÅÄÅÆiÅlˆÅŸÅЬ Å£›Å¨ÅƈůÅӠ޸ÅÓºÅÅdÅÅ×¢ shares may be issued) of the face value of Rs.10 each and in
ÅÆiÅl¶ÅÅÊžÅÅʸŬňşÅÔiÅÎl¬Å¯ÅӠŢiÅlÅʶÅÄn ÅÅiÅlÅdÅÅƅźşŘŘŸÅ˸ÅÓºÅÅ any case not exceeding 300,00,00,000 equity shares as on
®Å Å¸¢ÅÅƯÅÅƮŔşÅŘśŨŒ‰Åe¥ÅÆiÅm®Å}ÅÊ ¯ÅӠŢ›ÅÐÄwÅÅÊ iÅÓl¶ÅŋÅ£œÅØiÅliÅlÅÊ iÅÎl¬Å›Å¨ÅÅƅÅiÅÒlˆÅ date which together with the existing Paid-up Equity share
capital shall be within the total authorized capital of the Bank,
›ÅÛÐÄwÅÅÊ ŸÅÔ dÅÅƅÅÅƘŠşÅiÅlÅÊ …ÅÅ¢ÅhiÅÓldŘÅζÅÅ¢ ÅÅÅƛÅl¢f¶Å¶ÅįÅÅӅŘÅ ÅÅƌiÅlÅÓe¥ being the ceiling in the Authorised Capital of the Bank as per
¸ÅÓiÅÓldŘÅζÅÅ¢wÅÅÓžÅÅƮŵ ÅŸÅÔdÅÅƅÅÅƘŠşÅœÅ˜Å¶ÅiÅlˆÅŸלÅކÅe¥ºÅe¥›Å¨ÅÅƅÅiÅÒlˆÅ›ÅÐÜwÅÅÊ Section 3(2A) of the Act or to the extent of enhanced Authorised

18
iÅlÅÊ ¸ŒˆÅiÅlÅƘŅÅÅ¥ÅÆ¢ˆÅ¶ÅÅÊÅƬÅĺŸ׮ŸžÅÅÊ e¶ÅˆÅ¢¸ÅÆiÅliÅÓl˜•ÅʠŶŢiÅlÅ¢iÅlÅœÅØiÅl Capital as per the Amendment (if any), that may be made to the
iÅlÅʛŨŒ‰Åe¥ÅÆiÅm®Å}ÅÊ›ÅÐÜwÅÅÊŸÅÔ…ÅÅ¢‡Å¶ÅžÅÅʶşŠŶÅÓiÅlŸÅ˜Å¸ÅË¢¸ÓºÅÅÀşӮŸhiÅl Act in future, in such a way that the Central Government shall at all
times hold not less than 52% of the paid-up Equity capital of the
 ÅÅdÅÅƅÅiÅlžÅźÅÅÔ ŸÅÔ ¸ÅÓ dÅÅ×¢ÀÅŸÓ œÅ}Ã}Ó ›Å¢¸ÅÓ  ÅśŨÅÊÅƟŠşÅŒ¢›Å¢ ÅÅÅƛÅl¢œÅÅwÅÅ¢
Bank, whether at a discount or premium to the market price, in
Œ¢›Å¢wŸÅÜdÅŜÅÄ}˜ÅhiÅl ÅÅf¶Å¶ÅÓdÅÅƅÅiÅl¶ÅŒ¶ ÅÅÔœÅØiÅliÅÓliÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔžÅÅ¢ˆÅÅÊ Å one or more tranches, including to one or more of the members,
˜ÅźÅÅÆ¢iÅlÅÔdÅÅƘŮÅŶÅÅÊ žÅÅ¢ˆÅÅÊ ÅÅÔ 

h˜ÅdÅÅ¢dÅÅe

ÅƘÅwÅÅÊ ®Å¶ÅŮťwÅÅƘÅiÅliÅÄl›ÅÅƘŠÅÅÔ employees of the Bank, Indian nationals, Non-Resident Indians

ÅƘŮÅÓ¯ÅiÅl ¶ÅĶ‹ÅÅdÅÅÔ ¶ÅľÅÅÔ ˜ ÅŶÅÅÔ ¯ÅÅӅÅ ¶Å壘ÅÅÔ  ÅÅÓº Å ¶ÅĶ‹ÅźňÅ nÅ¢ÅʌŢÅÔ (“NRIs”), Companies, private or public, Investment Institutions,


iÅm ÅÐdÅÅeœÅÅÊ

wÅ׶ÅÓ ÅƮŌӯÅÅÊ ¶ÅĶ‹ÅźňÅÅƘŮÅÓ¯ÅiÅl

h›ÅldÅÅedÅÅe

œÅØiÅlÅƮʼnÅÅÊ Å Societies, Trusts, Research Organizations, Qualified Institutional

¶ÅĶ‹ÅÅdÅÅÔžÅÅ¢ˆÅÅÊ ÅŸ ÅÐÀÅÎdŬÅÅƘÅÅƅŠÅÅÔf”ÅŸÅÅÊ›ÅÛÐÄwÅÅʺňÅÅƘÅÅƅŠÅÅÔÅƮŌӯÅÅÊf”ÅŸÅ›ÅÐÜwÅÅÊ Buyers (“QIBs”) like Foreign Institutional Investors (“FIIs”),
Banks, Financial Institutions, Indian Mutual Funds, Venture
ÅƘŮÅÓ¯ÅiÅlÅÔ¢Åw ÅdÅÅהÅÅÓÅƺÅiÅlÅÆ®ÅiÅlŶÅÅƘźşÅÅÔœÅÅʟÅÅiÅÄl›ÅÅƘŠÅÅÔžÅÅƮŵ ÅÅƘÅÅƅŠÅÅÔ›ÅԯŘÅ Capital Funds, Foreign Venture Capital Investors, State Industrial
ÅƘÅÅƅŠÅÅÔÅÆ®ÅiÅlŶÅÅƮʼnÅÅʠŶÅĶ‹ÅÅdÅÅÔ  ÅÅdŘ ÅeiÅlÅe ÅÅԛŨÅÅƅÅiÅl¢‡ÅÅÔ  ÅÅÅƘŮÅÓ¯ÅiÅlÅÔ Development Corporations, Insurance Companies, Provident
iÅÓlÅÆiÅl¶ÅÅÊhÓ¶ÅӛŨ®ÅºÅ¥iÅlÅÓÅÆiÅl ÅÅwÅŶÅiÅlˆÅŸ×ÅÆwظÔœÅØiÅl–Å¢ÅwÅ׶ÅӮŸfÅÆÀňŶşńÅÓ Funds, Pension Funds, Development Financial Institutions or
f¶Å¤›ÅŸÅÔ f‰ÅlŸÅÔ ¶ÅÓ ÅÆiÅl¶ÅÅÊ iÅlÅÓ  ÅŶÅÄ ÅΉÅl¤›ÅŸÅÔ ÅƮŔşÅŘÅÅÆ®ÅÅƘŠşÅÅÔ Åƌ¯ÅÅÅƘŌկÅÅÔ other entities, authorities or any other category of investors
iÅÓl dŘÅζÅÅ¢  ÅÅ dÅÅe¶ÅÅʃÅÊdÅÅ¢ ÅÆ®ÅÅƘŠşÅÅÔ iÅÓl dŅ ÅÅ Å 9, h iÅÓl dŘÅζÅÅ¢ ¶ÅĶ‹ÅźňÅ which are authorized to invest in equity/preference shares/
securities of the Bank as per extant regulations/guidelines or
¶‹ÅŘŘÅiÅlŠťkÅlŸÅiÅÓldÅĈźťˆÅ¶ÅĶ‹ÅźňÅÅƘŮÅÓ¯ÅiÅlÅÔiÅlÅÓœÅØiÅliÅÓleÅÆiÅm®Å}ÅʮŢÅʠňÅůÅӠŢÅÔ
any combination of the above as may be deemed appropriate
›Å¨ÅƈŞÅÐÅƈŠÅÅÔŸÅÔÅƘŮÅÓ¯ÅiÅl¢˜ÅÓiÅÓlÅƬÅh›Å¨ÅÅƅÅiÅÒlˆÅÅÆiÅl ÅźŠÅŸ×ß

by the Bank".

 Å¸žÅÅʶÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅlhÓ¶ÅÅÅƘźťŸÅ›Å¨¶ˆÅŮŠÅÅdÅŜÅÄ}˜Å¶ÅŮťwÅÅƘÅiÅlÅƘźťŸÅ "RESOLVED FURTHER THAT such issue, offer or allotment shall

¢Åe}ÅƘźťŸÅ¶ÅӜÅÅÊiÅÓlÅÆ®ÅÅƘŠşÅ¯ÅӠŢdÅŅÅÅÅÆ¢ˆÅiÅlŸÅ¥ÀÅÅ¢ÅÊ¬ÅŞÅ

h¶ÅœÅÅÊeœÅÅÊ be by way of public issue, rights issue, issue of equity shares

ÅÆ®ÅÅƘŠşÅ

iÅÓlwÅÅÆ¢hiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ iÅlÅÓ eÅÆiÅm®Å}ÅÊ ¯ÅӠŢ ÅÅhÓ¶ÅÅdŘ ÅÅƘźťŸÅwÅÅÓ ÅÆiÅl
¬ÅźÅÐÅÆ®ÅÅƅÅ–Å¢Åf›Å¬Åœ…ÅÅÆiÅl ÅÅwÅŶÅiÅÓldÅÅƅşÅŘÅÅƘźťŸÅiÅÓlÝwÅÅÆ¢hdÅÅ×¢ ÅÅÅƘÅwÅÅÊ
¶‹ÅŘŘÅiÅÓldÅŅÅÅ¢›Å¢dÅÅƈÅdÅŜÅÄ}˜ÅÅÆ®ÅiÅl¬›Å¶ÅÅƸˆÅ ÅÅÅÆ®ÅiÅl¬›Å¢ÅƸˆÅÅÆiÅl ÅÅwÅÅhºÅÅ
dÅÅ×¢e¶ÅˆÅ¢¸iÅlśŨ¶ˆÅÅ®ÅÅƘźťŸÅ¶‹ÅŘŘÅdÅÅ×¢dÅŜÅÄ}˜ÅdÅÅƅÅÅƘŠşÅ‚ããƒÔããè¡ãè‚ããÀ
ÅÆ®ÅÅƘŠşŘÅ dÅÅ×¢ žÅÅÅÆ¢œÅØ ¶ÅӜÅÅÊ –ŢŠwÅÅ¢ÅÊ ¶ÅžÅÅÊ dŘ Å Åƌ¯ÅÅÅƘŌկÅÅÔ ˆÅ‹ÅÅ ¬ÅźÅÐ
dŘÅζÅÅ¢ÅÆiÅl¶ÅÅÊ dŘ Å›Å¨ÅÅƅÅiÅlÅÅÆ¢ ÅÅÔ iÅÓlÅƌ¯ÅÅÅƘŌկÅÅÔ dÅÅ×¢hÓ¶ÅÅÊ ›ÅÅƈÅŸÅÔhÓ¶ÅÓ ¶ÅŸÅ Å
 ÅÅ ¶ÅŸÅ ÅÅÔ ›Å¢ dÅÅ×¢ hÓ¶ÅÓ ÅƘŜÅąŘÅÅÔ ®Å ¯ÅˆÅÅÖ ›Å¢ ÅÆiÅl ÅÅ wÅÅhºÅÅ wÅÅÓ œÅÅӃ¥ dśŘÅÓ ›ÅЇť
ÅƮŮÅÓiÅlÅÅƅÅiÅlÅ¢iÅÓlˆÅ¸ˆÅfÅÆÀňŶşńňÅŸÅÓß
to employees through SEBI (Share Based Employee Benefits)
Regulations, 2014 (“SEBI Regulations”), preferential issue
and/or private placement, with or without over-allotment option
and that such offer, issue, placement and allotment be made as
per the provisions of the Act, ICDR Regulations and all other
guidelines issued by the RBI, SEBI and any other authority as
applicable, and at such time or times in such manner and on
such terms and conditions as the Board may, in its absolute

discretion, think fit".

"RESOLVED FURTHER THAT the Board shall have the authority

 Å¸ žÅÅÊ ¶ÅÄiÅl¬›Å ÅÆiÅl ÅÅ ºÅ ÅÅ ÅÆiÅl dźŨ‡ÅÅÊ ›Å¨œÅąÅiÅlÅÔ dÅÅ×¢ ÅÅ dŅÅÅÓ¬ÅÓnÅiÅlÅÔ dÅÅ×¢ ÅÅ
to decide, at such price or prices in such manner and where
dŘ Å¶Å¬ÅŸiÅlÅ¢ÅÔ dŋŮÅÅdŘ Å‹ÅÅiÅÓl¶ÅŋÅwŸÅÜ dÅŮů ÅiÅl¸ÅÓ ®Å¸ÅÛ ›Å¢ÅŸÅ¯Å¥ iÅl¢iÅÓl necessary in consultation with the lead managers and /or
hÓ¶ÅÓ ÅÆiÅl¶ÅÅÊ ¤›ÅŸÅÔ ÅÆwŶÅÓ ®Å¸fÅÆÀňŶşńÅÓhÓ¶ÅÓ ŸÅЬ Å ÅÅŸÅЬ ÅÅÔ iÅlÅÓ ÅƘÅÅƯÀňÅiÅl¢˜ÅÓ underwriters and /or other advisors or otherwise on such terms
iÅlÅ ›Å¨ÅÅƅÅiÅlÅ¢ œÅÅӃ¥ iÅlÅÓ ¸ÅÓºÅÅ dÅÅ×¢ f˜Å ÅƘŜÅąŘÅÅÔ dÅÅ×¢ ¯ÅˆÅÅÖ ›Å¢ ¸ÅÓºÅÅ ÅÆwظÔ œÅÅӃ¥ and conditions as the Board may, in its absolute discretion,
dśŘÅÓ ›ÅЇť ÅƮŮÅÓiÅlÅÅƅÅiÅlÅ¢ iÅÓl ˆÅ¸ˆÅ dÅÅe¶ÅÅʃÅÊdÅÅ¢ ÅÆ®ÅÅƘŠşŘÅÅÔ dŘ Å ÅÆ®ÅÅƘŠşŘÅÅÔ decide in terms of ICDR Regulations, other regulations and any
dŋŮÅÅdŘ Å¶ÅžÅÅÊ¬ÅźÅÐiÅlŘÅИÅÅÔÅƘŠşÅÅÔÅÆ®ÅÅƘŠşŘÅÅÔdÅÅ×¢Åƌ¯ÅÅÅƘŌկÅÅÔiÅÓldŘÅζÅÅ¢ and all other applicable laws, rules, regulations and guidelines
whether or not such investor(s) are existing members of
ÅƘÅÅƯÀňÅiÅl¢ˆÅŸ×ÀÅŸÓhÓ¶ÅÓÅƘŮÅÓ¯ÅiÅlœÅØiÅliÅÓl®ÅˆÅ¥ŸÅŘŶŌ¶ Å¸ÅÔÅÆiÅl˜Å¸ÅËdÅÅ×¢ŸÅЬ Å the Bank, at a price not less than the price as determined in
iÅlÅÅƘŠňŘÅdÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅÅÔiÅÓl¶ÅĜÅÄÅƅňśŨŮŅÅŘÅÅÔiÅÓlˆÅ¸ˆÅÅƘŅÅÅ¥ÅÆ¢ˆÅŸÅЬ Å accordance with relevant provisions of ICDR Regulations".
¶ÅÓiÅlŸÅ›Å¢˜Å¸Å˸ÅÓºÅÅß

"RESOLVED FURTHER THAT in accordance with the provisions

dÅźÅӠŸžÅÅʶÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅl¶ÅĜÅÄÅ…Æ ÅˆÅ¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅÅÔiÅÓl¶ÅŋŸÎh ÅÐÅ˜Æ Å›ÅlÅ۟ť of the Uniform Listing Agreements entered into with relevant
ÅƬÅÅƶ}ĺÅiÅl¢Å¢iÅÓl›Å¨Å®Å…ÅŘÅÅÔžÅÅ¢ˆÅÅÊ Å›Å¨ÅˆÆ ŞÅÐÅˆÆ Åh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥ iÅÓl›Å¨Å®Å…ÅŘÅÅÔÅƬÅÅƶ}ĺÅ stock exchanges, the provisions of Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements)
œÅŅ ÅˆÅÅhÄ ®Å ›Å¨iÅl}ÅÊiÅl¢‡Å dśÅÓÂÅÅhÄ ÅÆ®ÅÅƘŠşÅ  

h¬ÅdÅÅӃÅÊdÅÅ¢

 dÅÅƅÅÅƘŠşÅ Regulations, 2015,(“LODR”) the provisions of the Act, the

iÅÓl ›Å¨Å®Å…ÅŘÅÅÔ ÅÆ®ÅÅƘŠşÅ iÅÓl ›Å¨Å®Å…ÅŘÅÅÔ dÅÅe¶ÅÅʃÅÊdÅÅ¢ ÅÆ®ÅÅƘŠşŘÅ iÅÓl ›Å¨Å®Å…ÅŘÅÅÔ ÅƮŌӯÅÅÊ provisions of Regulations, the provisions of ICDR Regulations,
ÅÆ®ÅÅƘşŠÅ›Å¨œÅąŘÅdÅÅƅÅÅƘŠşÅiÅÓl›Å¨Å®Å…ÅŘÅÅÔ dÅÅ×¢ÅƮŌӯÅÅÊ ÅÆ®ÅÅƘşŠÅ›Å¨œÅąŘÅžÅÅ¢ˆÅ the provisions of the Foreign Exchange Management Act, 1999
¶ÅÓ œÅŸ¢¢¸˜ÅÓ®ÅŬÅÓ ® ÅÅƉÅl–Å¢Å›Å¨ÅˆÆ ŞÅÐÅˆÆ ÅiÅlÅdÅĈއÅ ÅÅÅƘźťŸÅ˜ÅÅÆ®ÅÅƘŠşŘÅiÅÓl and the Foreign Exchange Management (Transfer or Issue
of Security by a Person Resident Outside India) Regulations,
›Å¨Å®Å…ÅŘÅÅÔiÅÓldŘÅζÅÅ¢ˆÅ‹ÅÅžÅÅ¢ˆÅÅÊ Å›Å¨ÅˆÆ ŞÅÐÅˆÆ Åh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥ ¶ÅӜÅÅÊ¶}ÛÅiÅlhiÅm¶ÅÀÅÔwÅÅÔ
2000, and subject to requisite approvals, consents, permissions
žÅÅ¢ˆÅÅÊ Å ÅÆ¢wÝ Å®Å¥ œÅØiÅl dÅÅ¢œÅÅÊdÅÅe ÅƮŌӯÅÅÊ ÅƘŮÅӯŠ›Å¨ÅˆÓ ¶ÅŸ˜Å œÅÅӃ¥ h›ÅldÅÅe›ÅÅʜÅÅÊ and/or sanctions of SEBI, Stock Exchanges, RBI, Foreign
dÅÅהÅÅÓÅºÆ ÅiÅl˜ÅÅÊÅˆÆ Å®Å›Å¨ÅˆÓ ¶ÅŸ˜ÅÅƮŞÅźÅƒÅÊdÅÅe›ÅÅʛÅÅÊ®ÅÅÅƇÅw ÅŸÅĊÅŬŠÅdÅÅ×¢ Å‹ÅÅ®ÅÅÄÅ~ Æ ˆÅ Investment Promotion Board (FIPB), Department of Industrial
dŘÅζÅÅ¢dŘ Å¶ÅžÅÅÊ ›Å¨ÅÅƅÅiÅlÅÅÆ¢ ÅÅÔ dÅźÅÓ ÅÆwŘÅiÅlÅ

¶ÅŸÅÎÅÀÆ ÅˆÅ›Å¨ÅÅƅÅiÅlÅ¢ÅʺŇÅ

iÅÓl¤›ÅŸÅÔ Policy and Promotion, Ministry of Commerce (DIPP ) and all

¶ÅČžÅ¥ÅƬŠÅÅwÅÅhºÅÅÅƌ ÅÓwÅŘÅÓ®ÅŬÅÓdÅŮů ÅiÅldŘÅΟÅÅӌ˜ÅÅԶŸŸÅÅƈŠÅÅÔdŘÅΟÅÅƈŠÅÅÔdÅÅ×¢ other authorities as may be required (hereinafter collectively
referred to as “the Appropriate Authorities”) and subject to such
 ÅÅŸÅÄwÅÐÅ¢Æ  ÅÅÔiÅlÅÊ ¯ÅˆÅ¥ ›Å¢dÅÅ×¢f˜Å¯ÅˆÅÅÖ ›Å¢wÅÅÓÅiÆ ÅlhÓ¶ÅÓ dŘÅΟÅÅӌ˜ÅhÓ¶ÅÅÊ ¶Å¸ŸÅÅƈÅ
conditions as may be prescribed by any of them while granting
dŘÅΟÅÅƈÅdÅÅ×¢ ÅÅŸÅÄwÅТÅÊdÅźÅÓ¶ÅÓÅÆwŶÅÓ

dśÅÓÅÂÆ ÅˆÅdŘÅΟÅÅӌ˜Å

iÅl¸ÅwÅÅhºÅÅ›Å¨ŒÅ˜ÅiÅl¢ˆÅÓ any such approval, consent, permission and/or sanction

¶ÅŸÅ Åf˜ÅŸÅÔ ¶ÅÓ ÅÆiÅl¶ÅÅÊ iÅÓlžÅÅÊ –Å¢ÅÅƘŅÅÅ¥Å¢Æ ˆÅÅÆiÅl ÅÓ wÅňÅÓ ¸Ø ˆÅ‹ÅÅÅÆwظÔ œÅÅӃ¥ dśŘÅÓ ›ÅЇť (hereinafter referred to as “the requisite approvals”) the Board
ÅƮŮÅÓiÅlÅÅƅÅiÅlÅ¢iÅÓlˆÅ¸ˆÅÅƘÅÅƯÀňÅiÅl¢ˆÅŸ×e¥ÅiÆ Åm®Å}ÅÊ ¯ÅӠŢÅÔ  ÅÅÅÆiÅl˜¸ÅÊ žÅÅÊ ›Å¨ÅˆÆ ŞÅÐÅˆÆ Å ÅÅÔ may, at its absolute discretion, issue, offer and allot, from time
iÅlÅÓhiÅl ÅÅdÅÅƅÅiÅlÅÆiÅl¶ˆÅÅÔŸÅԶşŠŶşŠśŢÅÆ˜ÅºÅ¥ÅŸÆ ÅˆÅ›Å¨¶ˆÅÅÅƮňňŋÅÅdÅŜÅÄÅ}Æ ˆÅÅÆiÅl ÅÅ to time in one or more tranches, equity shares or any securities

19
wÅŶÅiÅlˆÅŸ×iÅÓl®Å¬Åf˜Å®ÅÅ¢Ä}ÅÔiÅlÅÓ~ÅÓƒÞ iÅl¢wÅÅÓœÅŌiÅlÅÊÅƈÅÅƋÅŸÅÔe¥ÅiÆ Åm®Å}ÅʯÅӠŢÅÔiÅÓl¶ÅŋÅ other than warrants, in such a way that the Central Government
ÅÆ®ÅÅƘşÅÅƠňÅÅÆiÅl ÅÓ wÅŶÅiÅlˆÅÓ ¸×  ÅÅ›ÅÅÆ¢®ÅÅƈťˆÅÅÆiÅl ÅÓ wÅŶÅiÅlˆÅÓ ¸Ø®Å¸žÅÅÊ e¶ÅˆÅ¢¸ÅÆiÅl at any time holds not less than 52% of the Equity Capital of
the Bank, to Qualified Institutional Buyers (QIBs) (as defined in
ÅÆiÅl¶ÅÅÊ žÅÅÊ ¶ÅŸÅ ÅiÅÓl˜•ÅʠŶŢiÅlÅ¢iÅlÅ…ÅÅ¢‡ÅœÅØiÅliÅlÅÊ e¥ÅiÆ Åm®Å}ÅÊ ›ÅÐwÄ ÅÅÊ ŸÅÔ ¶ÅÓ iÅlŸÅ˜Å
Regulation 2(ss) of the ICDR Regulations) such as Public
¸ÅÓ dÅÅ×¢ Å¸¶‹ÅŘŘÅ ÅÅdÅŜÅÄ}˜ÅiÅm ÅÐdÅÅeÅƜŠÅÅÔ dÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅiÅÓldŅ ÅÅ Å Financial Institution, foreign portfolio investor, mutual fund,
h¶Åh¶ÅŸÅÔ ›ÅÅÆ¢žÅÅÅƵňÅdŘÅζÅÅ¢iÅlÅÓ ÅÅÓº ÅˆÅśŨśˆÅ¶ÅĶ‹ÅňŸÅiÅl¶‹ÅŘŘÅiÅm ÅÐdÅÅeœÅÅÊ venture capital fund etc. pursuant to a Qualified Institutions
¸ÅӘÅÓiÅÓldŘÅÎkÅlŸÅŸÅÔwÅ׶ÅÅÅÆiÅldÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅiÅÓldŅ ÅÅ Å9,iÅÓlˆÅ¸ˆÅ›Å¨Å®Å…ÅÅÅƘňÅ Placement (QIP) as provided for under Chapter VI of the ICDR
ÅÆiÅl ÅźŠÅŸ×ÅÆiÅl¶ÅÅʶ‹ÅŘŘÅŒ¶ˆÅÅ®ÅÓwÝ ÅdÅÅ×¢ ÅÅhÓ¶ÅÓdŘ ÅŒ¶ˆÅÅ®ÅÓwÝ ÅÅÔ¬ÅÓnŘÅÅÔ›ÅÅÆ¢›ÅŠÅÅÔ Regulations, and through a placement document and/or
such other documents / writings / circulars / memoranda and
yÅśŘÅÅÔiÅÓl–ŢňŋÅÅhÓ¶ÅÓ¤›ÅŸÅÔdÅÅ×¢hÓ¶ÅÓŸÅЬ Å›Å¢ÅƘŜÅąŘÅÅÔdÅÅ×¢¯ÅˆÅÅ֛ŢwÅÅÓÅÆiÅl in such manner and on such price, terms and conditions as
dÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅÅÔiÅÓldŘÅζÅÅ¢ ÅÅiÅlŘÅИÅiÅÓlf˜ÅdŘ Å›Å¨Å®Å…ÅŘÅÅÔiÅÓldŘÅζÅÅ¢wÅÅÓ may be determined by the Board in accordance with the ICDR
ÅÆiÅlf¶Å¶ÅŸÅ ÅÅƮŔşÅŘŸלÅÅӃ¥ –Å¢ÅÅƘÅÅƯÀňÅÅÆiÅl ÅӺŠÅӸ؜ůňÅÕe¶Å›Å¨iÅlÅ¢ÅÆ˜ÅºÅ¥ÅŸÆ ÅˆÅ Regulations or other provisions of the law as may be prevailing
eÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅlśŨÅÅÊ ŸÆ ŠşÅ¶ÅÅƸˆÅŸÅЬ ÅdÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅÅÔiÅÓl¶ÅĜÅÄÅ…Æ ÅˆÅ›Å¨Å®Å…ÅŘÅÅÔ at that time; provided the price inclusive of the premium of the
iÅÓldŘÅζÅÅ¢ÅƘŅÅÅ¥Å¢Æ ˆÅŸÅЬ Å¶ÅÓiÅlŸÅ˜Å¸ÅÓß

equity shares so issued shall not be less than the price arrived in
accordance with the relevant provisions of ICDR Regulations".

 Å¸žÅÅÊ ¶ÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅl¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅÅÔ iÅÓl¶ÅŋÅÅÆiÅlhºÅh¶ÅÐÀÅÅÊ iÅl¢Å¢iÅÓl

"RESOLVED FURTHER THAT in case of a QIP made pursuant to
›Å¨Å®Å…ÅŘÅÅÔiÅÓldŘÅζÅÅ¢dÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅiÅÓldŅ ÅÅ Å9,iÅÓlkÅlŸÅŸÅÔ ÅÅÓº ÅˆÅśŨśˆÅ Chapter VI of the ICDR Regulations, the allotment of Securities
¶ÅĶ‹ÅźňŶ‹ÅŘŘÅiÅÓlŸÅşŬÅÓŸÅԛŨÅƈŞÅÐÅƈŠÅÅÔiÅlÅdÅŜÅÄ}˜ÅdÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅÅÔiÅÓl shall only be to QIBs within the meaning of Chapter VI of the
dŅ ÅÅ Å9,iÅlÅÊ›ÅÅÆ¢žÅŵÅÅiÅÓlžÅÅʈ޸ÅÊ ÅÅÓº ÅˆÅśŨśˆÅ¶ÅĶ‹ÅźňÅnÅ¢ÅʌŒÅ¢ÅÔiÅlÅÓÅÆiÅl ÅÅ ICDR Regulations, such Securities shall be fully paid-up and
wÅÅhºÅÅdÅÅ×¢hÓ¶ÅÅÊ ›Å¨ÅƈŞÅÐÅƈŠÅÅÜ ›ÅЇťˆÅ›Å¨Œ‰Å¸ÅÔºÅÅÊ dÅÅ×¢e˜Å›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅlÅdÅŜÅÄ}˜Å the allotment of such Securities shall be completed within 12
¶ÅÄiÅl¬›ÅiÅlÅÊÅƈÅÅƋŶÅӟŸÅʘÅÅÔiÅÓlžÅÅʈŢ›ÅТÅiÅl¢ÅƬŠÅÅwÅÅhºÅÅß

months from the date of passing of this resolution".

“RESOLVED FURTHER THAT in case of QIP issue, the Bank in

 Å¸ žÅÅÊ ¶ÅÄiÅl¬›Å ÅÆiÅl ÅÅ ºÅ ÅÅ ÅÆiÅl iÅm ÅÐdÅÅe›ÅÅÊ ÅƘźťŸÅ iÅÓl ŸÅşŬÅÓ ŸÅÔ ›Å¨ÅƈŞÅÐÅƈŠÅÅÔ
pursuance to proviso to Regulation 176(1) of ICDR Regulations
iÅÓl ¯ÅΣdÅňÅÅÊ ŸÅЬ Å ›Å¢ ›ÅÅÜÀÅ ›Å¨ÅƈůňÅ ¶ÅÓ dŘÅÅƅÅiÅl iÅlÅÊ ~Ð} ›Å¢ dÅÅe¶ÅÅʃÅÊdÅÅ¢ is authorized to offer shares at a discount as prescribed by
ÅÆ®ÅÅƘŠşŘÅiÅÓlÅÆ®ÅÅƘŠşÅiÅÓl›Å¨Å®Å…ÅŘÅÅÔ iÅÓldŘÅΛÅŬŘÅŸÅÔ œÅØiÅl¯ÅӠŢŒÓ˜ÅÓ iÅlÅÓ ICDR Regulations from time to time and relevant date for the
›Å¨ÅÅƅÅiÅÒlˆÅ¸×ˆÅ‹ÅśŨÅƈŞÅÐÅƈŠÅÅÓiÅÓl¯ÅΣdÅňÅÅÊŸÅЬ ÅÅƘŅÅÅ¥¢‡ÅiÅlÅʶÅĜÅÄÅƅňÅÅƈÅÅƋÅiÅlÅÓ determination of the floor price of the securities shall be in
dÅÅe¶ÅÅʃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅÅÔiÅÓldŘÅζÅÅ¢¢nÅÅwÅÅhºÅÅß

accordance with the ICDR Regulations".

 Å¸žÅÅʶÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅlœÅÅӃ¥iÅÓl›ÅŶÅžÅÅ¢ˆÅ¶Å¢iÅlÅ¢žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅl "RESOLVED FURTHER THAT the Board shall have the authority
žÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅdÅÅ×¢ÅÆ®ÅÅƘşŠÅœÅÅӃ¥¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅÅÔwŸÅÜœÅØiÅliÅÓl¯ÅӠŢÅƬŶ} and power to accept any modification in the proposal as
ÅÆiÅl ÅÓ ºÅ ÅÓ ¸Ø  ÅÅhÓ¶ÅÓ dŘ ÅÅÆiÅl¶ÅÅÊ ¶ÅŸÅÎÅÆÀňśŨÅÅƅÅiÅlÅ¢ÅÊ –Å¢ÅdŘÅΟÅÅӌ˜ÅÅԶŸŸÅÅƈŠÅÅÔ may be required or imposed by the GOI / RBI / SEBI/Stock
Exchanges where the shares of the Bank are listed or such
dŘÅΟÅÅƈŠÅÅÔ dÅÅ×¢ÅƘźťŸÅÅÔ ¶ÅÓ ¶ÅĜÅÄÅƅňÅŸÅÄwÅÐÅÆ¢ ÅÅÔdÅŜÅÄ}˜ÅdÅÅ×¢f˜ÅiÅlÅÊ ÅƬÅÅƶ}ĺÅwÅ׶ÅÅ
other appropriate authorities at the time of according / granting
ÅÆiÅl œÅÅӃ¥ –ŢŠ¶Å¸ŸÅˆÅ ¸ÅÓ ®ÅÅÄÅÆ~ˆÅ dŋŮÅÅ ÅƘŌÕÅƯňÅ dŘÅζÅÅ¢ ›Å¨¶ˆÅŮŠŸÅÔ ÅÆiÅl¶ÅÅÊ žÅÅÊ their approvals, consents, permissions and sanctions to issue,
¶ÅįÅÅӅŘÅiÅlÅÓ¶®ÅÅÊiÅlÅ¢iÅl¢˜ÅÓiÅlśŨÅÅƅÅiÅlÅ¢®ÅdÅÅƅÅiÅlÅ¢¸ÅÓºÅňŋÅÅe¶Å¶ÅĜÅąÅŸÅÔœÅØiÅl allotment and listing thereof and as agreed to by the Board and
iÅÓl¯ÅӠޅÅÅ¢iÅlÅÔ¶ÅÓiÅlÅÓe¥dŘ ÅdŘÅΟÅÅӌ˜ÅdśÅÓÅÆÂňŘŸÅ˸ÅÓºÅÅß

no further approvals in this regard would be required from the

shareholders of the Bank".

 Å¸žÅÅʶÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅldÅÅ×¢dÅÅƘŮÅŶÅÅÊžÅÅ¢ˆÅÅÊ Åh›ÅldÅÅdÅÅeˆÅ‹ÅÅ ÅÅdŘ Å›ÅŊÅ
ÅƮŌӯÅÅÊÅƘŮÅÓ¯ÅiÅlÅÓhÓ¶ÅÓdÅŜÅÄ}˜ÅdÅÅ×¢ÅƘźťŸÅ˜ÅžÅÅ¢ˆÅÅÊ ÅÅÆ¢wŮťœÅØiÅliÅÓldŘÅΟÅÅӌ˜ÅiÅlÅʯňť RESOLVED FURTHER THAT the issue and allotment, if any, to
NRIs, FIIs and/or other eligible foreign investors be subject to the
›Å¢ÅƮŌӯÅÅÊÅÆ®ÅÅƘşŠÅ›Å¨œÅąŘÅdÅÅƅÅÅƘŠşÅiÅÓlˆÅ¸ˆÅÅÆiÅl ÅÅwÅÅhºÅśŢĈÅÎdÅÅƅÅÅƘŠşÅiÅÓl
approval of the RBI under the Foreign Exchange Management
dÅĈźťˆÅÅƘŅÅÅ¥Å¢Æ ˆÅ¶ÅŸÅºÅ¨¶ÅÅʟÅÅiÅÓlžÅÅʈŢ¬ÅźÅÐdŘÅζÅÅ¢¸ÅÊÅÆiÅl ÅÅwÅÅhºÅÅß

Act, 1999 as may be applicable but within the overall limits set

 Å¸žÅÅÊ ¶ÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅldÅÅƘŮÅŶÅÅÊ žÅÅ¢ˆÅÅÊ ÅÅÔÅƮŌӯÅÅÊ ¶ÅĶ‹ÅźňÅÅƘŮÅÓ¯ÅiÅlÅÔ forth under the Act".

dÅÅ×¢ ÅÅdŘ Å›ÅŊÅÅƮŌӯÅÅÊÅƘŮÅÓ¯ÅiÅlÅÔiÅlÅӘŠÅÓeÅÆiÅm®Å}ÅʯÅӠŢ›Å¨ÅƈŞÅÐÅƈŠÅÅÄiÅlÅdÅŜÅÄ}˜Å "RESOLVED FURTHER THAT the issue and allotment of new
¶ÅŸÅ Å¶ÅŸÅ Å›Å¢¶ÅįÅÅÓÅƅňÅÅÆ®ÅÅƘŠşÅiÅlÅʯňť›Å¢¸ÅÓºÅÅh®ÅÄhÓ¶ÅÅʾÅÅӵŇÅÅdÅÅÔiÅÓl¶ÅŸÅ Å equity shares / securities, shall be subject to the Regulations
as amended from time to time and shall rank in all respects
›Å¨žÅÅ®ÅÅʶÅÅÄÅÆ®ÅÅƅÅiÅlÅƌ¯ÅÅÅƘŌկÅÅÔiÅÓldŘÅζÅÅ¢ Å‹ÅŶÅįÅÅÓÅƅňňŋÅžÅÅÓÅƵňÅ¬ÅŞÅÅįÅ ÅÅƌ
pari passu with the existing equity shares of the Bank including
iÅlÅÓe¥¸×ˆÅÅӶşÅӈÅœÅØiÅliÅÓlŸÅÅ×ÝwÅЌÅeÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅÓl¶ÅŸÅ¤›Å¸ÅÓºÅÅß dividend declared, if any, in accordance with the statutory

 Å¸ žÅÅÊ ¶ÅÄiÅl¬›Å ÅÆiÅl ÅÅ ºÅ ÅÅ ÅÆiÅl eÅÆiÅm®Å}ÅÊdÅÅƅşÅŘ Å ¯ÅӠŢÅÔ  ›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅÓl guidelines that are in force at the time of such declaration “.
hÓ¶ÅÓ ÅƘźťŸÅ ¶ÅÓ ¶ÅĜÅÄÅƅňÅ ÅÆiÅl¶ÅÅÊ œÅÎiÅl ¢˜Å¢¢ÅÔ dźŨ‡ÅÅÊ ›Å¨œÅąÅiÅliÅlÅÔ œÅØiÅl¢¢ÅÔ "RESOLVED FURTHER THAT the Board be and is hereby
¸ÅŸÅÅʌŢ¢ÅÔ Åƃ›ÅÅÅÆÝwÅ}¢ÅʶÅ ¢ÅÆwŶ}ªÅ¢¢ÅÔ ¬ÅÓnÅśŢÅÊÂÅiÅliÅlÅÔ dÅÅ×¢ hÓ¶ÅÓ ¶ÅžÅÅÊ authorized to enter into and execute all such arrangements
dÅÅƞÅiÅl¢‡ÅÅÔiÅÓl¶ÅŋÅhÓ¶ÅÅʶŞÅÅÊ® Å®Å¶‹ÅÅhÄÅƘŵ›ÅÅÅƌˆÅiÅl¢˜ÅÓdÅÅ×¢hÓ¶ÅÅʶŞÅÅʶÅĶ‹ÅÅdÅÅÔ with any Book Runner(s), Lead Manager(s), Banker(s),
dÅÅ×¢dÅÅƞÅiÅl¢‡ÅÅÔ iÅlÅÓ iÅlŸÅÅʯŘÅŒ¬ÅŬÅÅʯÅάiÅliÅÓl¶ÅĜÅąÅŸÅÔ ˆÅ‹ÅÅf˜ÅiÅÓl›Å¢ÅŸÅ¯Å¥ ¶ÅÓ Underwriter(s), Depository(ies), Registrar(s), Auditor(s) and
all such agencies, to remunerate all such institutions and
ÅƘźťŸÅÅÔiÅÓlÅƘŜÅąŘÅÅÔ ®Å›Å¨iÅlÅ¢ÅƘŅÅÅ¥ÅÆ¢ˆÅiÅl¢˜ÅÓÅƘŮÅÓ¯ÅiÅlÅÔ iÅÓl¶ÅĮźť ¶ÅÅƸˆÅÅÆwظÔ
agencies by way of commission, brokerage, fees or the like in
¯ÅӠŢ›Å¨ÅƈŞÅÐÅƈÅdÅŜÅÄÅÆ}ˆÅÅÆiÅlhwÅŘÅÓ®ÅŬÅÓ ¸Øf˜ÅŸÅÔ ¶ÅÓ ›Å¨ˆ ÅÓiÅl®ÅºÅ¥ iÅlÅÓ dÅŜÅÄÅÆ}ˆÅÅÆiÅlh consultation with them to determine the form and terms of the
wÅŘÅÓ®ÅŬÅÓ¯ÅӠŢÅԛŨÅƈŞÅÐÅƈŠÅÅÔiÅlÅʶÅÄn ÅÅÅƘźťŸÅŸÅЬ Å ÅÅƌ›Å¨ÅÊÅƟŠşÅ¸ÅÓˆÅÅӮŸžÅÅÊ issue(s), including the class of investors to whom the shares/
¯ÅÅÅƟŬŸ×dÅÄÅÆiÅlˆÅŸÅЬ ÅÅƘźťŸÅ›Å¢›Å¨ÅÊÅƟŠşÅ¢ÅÅƯśŨÅƈŞÅÐÅƈŠÅÅÔiÅlÅ›ÅÅÆ¢®ÅˆÅ¥˜Å®ÅÅ¢Ä} securities are to be allotted, number of shares/securities to be
œÅŒ¬Å˜ÅÅ  ›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅlÅÊ ›ÅÅÆ¢›ÅiÅm®ÅˆÅÅ ¢ÅÅƯÅ ¬ÅӘÅÅ œ ÅÅwÅ Œ¢ ›ÅÅÆ¢›ÅiÅm®ÅˆÅÅ dÅ®ÅÅƅÅ allotted in each tranche, issue price (including premium, if any),

20
›Å¨ÅƈŞÅÐÅƈŠÅÅÔiÅlÅ›ÅÅÆ¢®ÅˆÅ¥˜Å ÅÅ›ÅÅÆ¢›ÅiÅm®ÅˆÅÅ ÅÅÅƘŢ¶Å˜Å›Å¢e¥ÅÆiÅm®Å}ÅʯÅӠŢÅÔdÅÅƅşÅŘ Å
¯ÅӠŢÅÔ  ÅÅdŘ Å›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅlÅÊ ¶ÅÄn ÅÅŸÅЬ Å›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅlÅÅƘźťŸÅ›ÅÅÆ¢®ÅˆÅ¥˜Å›Å¢
›Å¨ÅÊÅƟŠşÅ  œÅ}Ã}Å œ ÅÅwÅ Œ¢›ÅÅÆ¢®ÅˆÅ¥˜Å iÅlÅÊ dÅ®ÅÅƅÅ ¬ÅÓnÅÅ œÅČÅÊ dÅÅ×¢ ¶ÅĜÅÄÅƅňÅ  ÅÅ
ÅÆ®ÅÅƮŅÅŸÅşŬÅÅÔ ¸ÓˆÅÎ ÅÆ¢iÅlŃ¥ ˆÅÅ¢ÅÊnÅiÅlÅÅƘŠňŘÅiÅl¢˜ÅÓžÅÅ¢ˆÅŸÅÔ dÅÅ×¢ ÅÅÅƮŌӯÅŸÅÔ
hiÅl ÅÅdÅÅƅÅiÅl¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅŸÅÓ¶ÅÐÀÅÅʜŐiÅl¢˜ÅÓwÅ׶ÅÓŸÅă¬ÅfÅÆÀňŶşńÅÓiÅÓlÅƬÅh
ŸÅă¬ÅiÅlÅÓ hˆÅŒÃ–ŢśŨÅÅƅÅiÅÒlˆÅÅÆiÅl ÅÅwÅÅhdÅÅ×¢hÓ¶ÅÓ iÅlÅ ÅÅÖŒ¶ˆÅÅ®ÅÓwÅÅÔ dÅÅ×¢iÅl¢Å¢ÅÔ
iÅlÅÓÅƘŵ›ÅÅÅƌˆÅiÅl¢˜ÅÓÅÆwظÔ®ÅÓdÅŮů ÅiÅlfÅÆÀňÅ ÅÅ®ÅÅÄ~˜ÅÅʠŶşńÅÔdÅÅ×¢¶ÅŮťwÅÅƘÅiÅl
›Å¨¶ˆÅÅ®ÅÅƘźťŸÅdÅŜÅÄ}˜ÅdÅÅ×¢ÅƘźťŸÅ¢ÅÅƯÅiÅlÅÊf›Å ÅÅÓÅƺňÅÅiÅÓl¶ÅĜÅąÅŸÅÔiÅlÅÓe¥¶ÅČӸ ÅÅ
›Å¨¯˜Å¸ÅÓˆÅÅÓf˜¸Ô¶ÅάńÅŘÅÓ ÅÅdŘÅΌӯŌӘÅÓ ÅÅÅƘŌӯŌӘÅÓ¸ÓˆÅΈŋÅÅÅƘŜÅąŘÅÅԮůňÅÅÖiÅÓl
¶ÅĜÅąÅŸÅÔÅÆiÅlhwÅŘÅÓ®ÅŬÅÓhÓ¶ÅÓ¶ÅįÅÅӅŘÅÅÔ›ÅÅÆ¢®ÅˆÅ¥˜ÅÅԜŌ¬ÅÅ®ÅÅÔwÅÅӃÅƮŬÅÅӛŘÅÅÔdÅÅÅƌ
›Å¢œÅØiÅliÅÓlÅƸˆÅ¸ÓˆÅÎdśŘÅÓÅƮŮÅÓiÅlÅÅƅÅiÅlÅ¢ŸÅÔiÅlÅ¢¥®ÅÅe¥iÅl¢˜ÅÓÅÆwŶÅiÅÓlÅƬÅhœÅØiÅldÅÅ×¢
ŸÅă¬ÅiÅlÅÓÅƌhºÅh¶ÅžÅÅÊ ÅÅÅÆiÅl¶ÅÅÊdÅÅƅÅiÅlÅ¢ÅÔiÅÓldŘÅζÅÅ¢¶ÅŒ¶ ÅÅÔ¶ÅÓdÅÅ×¢dŘÅΟÅÅӌ˜Å
iÅlÅÊ dÅŮů ÅiÅlˆÅŘŸÅË ¸× dÅÅ×¢e¶Å¶ÅÄiÅl¬›Å›Å¢ŸÅă¬Å–Å¢ÅiÅlŠť iÅl¢˜ÅÓ ¸ÓˆÅÎ ŸÅă¬ÅiÅlÅÓ
hˆÅŒÃ–ŢśŨÅÅƅÅiÅÒlˆÅÅÆiÅl ÅÅwÅÅhß
 Å¸žÅÅʶÅÄiÅl¬›ÅÅÆiÅl ÅźŠÅÅÅÆiÅlhÓ¶ÅÓ¯ÅӠŢÅԛŨÅƈŞÅÐÅƈŠÅÅÔwÅÅÓdÅÅƞŌÅÅƘňŘŸÅ˸ØiÅlÅ
ÅƘśÅ}ŘÅœÅÅӃ¥–Å¢Åf¶ÅiÅÓl›Å¢ŸÅÅƮŮÅÓiÅlÅÅƅÅiÅlÅ¢iÅÓlˆÅ¸ˆÅe¶Å›Å¨iÅlÅ¢ÅÆiÅl ÅÅwÅÅhwÅ׶ÅÅ
œÅÅӃ¥fÅÆÀňŶşńÅÓdÅÅ×¢wÅ׶ÅÅiÅlŘÅИÅ–Å¢ÅdŘÅΟňŸÅÓdÅÅ×¢ Å¸ÅÆiÅlœÅÅӃ¥iÅlÅÓhˆÅŒÃ–Å¢Å
›Å¨ÅÅƅÅiÅÒlˆÅÅÆiÅl ÅÅwÅÅhÅÆiÅl®Å¸›Å¨œÅąÅÅƘŌӯÅiÅldÅÅ×¢ŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊ  ÅÅ
face value, premium amount on issue and do all such acts,
deeds, matters and things and execute such deeds, documents
and agreements, as they may, in its absolute discretion, deem
necessary, proper or desirable, and to settle or give instructions
or directions for settling any questions, difficulties or doubts
that may arise in regard to the public offer, issue, allotment
and utilization of the issue proceeds, and to accept and to give
effect to such modifications, changes, variations, alterations,
deletions, additions as regards the terms and conditions, as it
may, in its absolute discretion, deem fit and proper in the best
interest of the Bank, without requiring any further approval of
the members and that all or any of the powers conferred on
the Bank and the Board vide this resolution may be exercised
by the Board as the Board in its absolute discretion deems fit".
"RESOLVED FURTHER THAT such of these shares / securities
as are not subscribed may be disposed off by the Board in its
absolute discretion in such manner, as the Board may deem fit
and as permissible by law and that the Board be and is hereby
authorized to delegate all or any of the powers herein conferred
to the Managing Director and Chief Executive Officer or to the
Executive Director/(s) or to Committee of Directors constituted/
iÅlŠť›ÅŬÅiÅl ÅƘŌӯÅiÅliÅlÅÔ  ÅÅ œÅ˜ÅÅÊ ¸Îe¥ dŜÅ ¶ÅÓ œÅ˜ÅÅe¥ wÅŘÅÓ ®ÅŬÅÅÊ ÅƘŌӯÅiÅlÅÔ iÅlÅÊ hereafter constituted to give effect to the aforesaid Resolutions."
¶ÅÅƟÅÅƈÅiÅlÅÓ ›Å¨Œ‰Å¶ÅžÅÅÊ  ÅÅiÅlÅÓe¥ hiÅldÅÅƅÅiÅlÅ¢›Å¨ˆ ÅÅ ÅÅÓÅÆwňÅiÅl¢¶ÅiÅÓlÅÆiÅlf›Å ÅÎ¥‰Ål
3. To consider further issue of shares to Employees:
¶ÅÄiÅl¬›Å›Å¨žÅÅ®ÅÅʸÅÓ¶ÅiÅÓlß

To consider and if thought fit, to pass, the following Resolution

3. dÅźÅÓiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓ¯ÅӠŢwÅÅ¢ÅÊiÅl¢˜ÅӛŢÅÆ®ÅÀÅÅ¢iÅl¢˜ÅÅ as a Special Resolution:
ÅƘş˜ÅÅƬÅÅÆnňŶÅÄiÅl¬›ÅÅԛŢÅƮůÅӵŶÅÄiÅl¬›ÅiÅÓl¤›ÅŸÅÔÅÆ®ÅÀÅÅ¢iÅl¢˜ÅÅdÅÅ×¢f›Å ÅΉÅl¶ÅŸÅ„ÅÓ “RESOLVED THAT subject to the provisions of The Banking
wÅŘÅӛŢ›ÅÅÅÆ¢ˆÅiÅl¢˜ÅÅ Companies (Acquisition and Transfer of Undertakings) Act, 1970
(Act), The Nationalised Banks (Management and Miscellaneous

¶ÅÄiÅl¬›Å ÅÆiÅl ÅÅ wÅňÅÅ ¸× ÅÆiÅl œÅØÅÆiÅlºÅ iÅÄl›Å˜ÅÅÊ f›ÅkÅlŸÅÅÔ iÅlÅ dÅÅƅźŨ¸‡Å ®Å dÅĈއÅ Provisions) Scheme, 1970 (Scheme), Regulation 41 of SEBI
dÅÅƅÅÅƘŠşÅdÅÅƅÅÅƘŠşÅ¢Åµ}ªÅÊ ÅœÅØiÅl›Å¨œÅąŘÅ®ÅÅÆ®ÅÅƮŅśŨŮŅÅŘÅ ÅÅÓwŘÅÅ (Listing Obligations & Disclosure Requirements) Regulations,
2015 (LODR), the Indian Overseas Bank (Shares and Meetings)
 ÅÅÓwŘÅÅ¶ÅӜÅÅÊ ¶ÅÐÀÅÅʜŐœÅŅ ÅˆÅŮśŨiÅl}ÅÊiÅl¢‡ÅdśÅÓÂÅÅhÜÅÆ®ÅÅƘŠşÅ Regulations, 2003 as amended upto 2008 (Regulations) and
h¬ÅdÅÅӃÅÊdÅÅ¢  ˆÅiÅl ¶ÅįÅÅÓÅƅňÅ eÅƇƒ Å˜Å dÅÅӮ޶ÅÅÊÝwÅ œÅØiÅl ¯ÅӠŢ ®Å œÅׁiÅl the provisions of the Uniform Listing Agreements entered into
with the BSE Limited and the National Stock Exchange of
ÅÆ®ÅÅƘŠşÅÅÆ®ÅÅƘŠşÅdÅÅ×¢h¬ÅdÅÅӃÅÊdÅÅ¢iÅÓldŘÅζÅÅ¢œÅÅÊh¶Åe¥ÅƬÅÅƟÅ}Ӄ®Å˜ÅӯŘŬÅ India Limited (Stock Exchanges) as per LODR (including any
¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅiÅÓl¶ÅŋÅÅÆiÅlhºÅh ÅÐÅƘśÅlÅ۟ťÅƬÅÅƶ}ĺŶşńÅÅ׈ÅÓiÅÓl›Å¨Å®Å…ÅŘÅÅÔiÅlÅʯňť amendment thereto or re-enactment thereof) and in accordance
›Å¢ˆÅˆ¶ÅĜÅąÅÅÊ ÅÆiÅl¶ÅÅÊ ¶ÅįÅÅӅŘÅ ÅÅf¶ÅiÅÓldÅÅƅÅÅƘŠşŘÅˆÅ‹ÅÅÅÆ®ÅÅƘŠşÅÅÔiÅÓlÅÆ®ÅÅƘŠşÅ with the provisions of Regulation 4A of the Regulations and
the Securities and Exchange Board of India (Share Based
h ˆÅ‹ÅÅ žÅÅ¢ˆÅÅÊ Å ›Å¨ÅƈŞÅÐÅƈÅ ®Å ÅÆ®ÅÅƘşŠÅ œÅÅӃ¥ ¯ÅӠŢ dÅŅÅÅÅÆ¢ˆÅ iÅlŸÅ¥ÀÅÅ¢ÅÊ ¬ÅŞÅ Employee Benefits) Regulations, 2014 (including any statutory
ÅÆ®ÅÅƘŠşÅ  ¶ÅŸÅ Å ¶ÅŸÅ Å ›Å¢ ÅÆiÅl¶ÅÅÊ žÅÅÊ ¶ÅÅÄÅÆ®ÅÅƅÅiÅl ¶ÅįÅÅӅŘÅ dÅÅÔ ¶ÅįÅÅӅŘÅ modification(s), amendment(s) or re-enactment from time
dÅÅÔ dÅÅƅÅÅƘŠşŘÅ ¶ÅŸÅӈÅ iÅÓl ›Å¨Å®Å…ÅŘÅÅÔ iÅÓl dŘÅζÅÅ¢ ¸×ß ¶ÅӜÅÅÊ ¯ÅӠŢ dÅŅÅÅÅÆ¢ˆÅ to time) (“SEBI Regulations”), and subject to the approval,
consent and sanction of RBI, GOI, SEBI, Stock Exchange(s)
ÅÆ®ÅÅƘŠşÅ dÅÅ×¢ žÅÅÅÆ¢œÅØžÅÅ¢ˆÅ¶Å¢iÅlÅ¢¶ÅӜÅÅÊ ¶}ÅÛiÅl hiÅm¶ÅÀÅÔwÅ iÅÓl dŘÅΟÅÅӌ˜Å in which Bank’s equity shares are listed, wherever applicable,
¶Å¸ŸÅÅƈŮşÅÄwÅТÅÊ iÅÓldŅÅÅʘÅÅÆwŘşÅÔ œÅØiÅliÅÓleÅÆiÅm®Å}ÅÊ ¯ÅӠ޶ÅÐÀÅÅʜŐ¸Ø wŸÅÜ iÅl¸ÅË and subject to any applicable approval(s), permission(s) and
sanction(s), at any stage, of any authority and subject to any
¬ÅźÅиÅÔdÅÅ×¢ÅÆiÅl¶ÅÅÊžÅÅʛŨÅÅƅÅiÅlÅ¢ÅÊiÅÓlÅÆiÅl¶ÅÅÊžÅÅÊ¬ÅźÅÐdŘÅΟÅÅӌ˜Å˜ÅÅÔdŘÅΟÅÅƈÅ ÅÅÔ condition(s) and modification(s) as may be prescribed or
ˆÅ‹ÅÅŸÅÄÝwÅТÅÊ ÅÅÔÅÆiÅl¶ÅÅÊžÅÅʶˆÅ¢›Å¢dÅÅ×¢ÅÆiÅl¶ÅÅÊžÅÅʯňÅÅծŶÅįÅÅӅŘÅÅÔwÅ׶ÅÅÅÆiÅlh¶ÅÓ imposed by such authorities while granting such approval(s),
›Å¨ÅÅƅÅiÅlÅÅÆ¢ ÅÅÔ–Å¢ÅhÓ¶ÅÓdŘÅΟÅÅӌ˜Å˜ÅÅÔdŘÅΟÅÅƈÅ ÅÅÔˆÅ‹ÅÅŸÅÄÝwÅТÅÊ ÅÅÔiÅlÅӌӈÅÓ¸Îh permission(s) and sanction(s) and which may be agreed to and
accepted by the Board, consent be and is hereby accorded to
ÅƘÅÅƌ¥µ} ÅŬźÅÅ ÅźŠÅŸÅÓdÅÅ×¢wÅÅÓÅÆiÅlœÅÅӃ¥–ŢŶ®ÅÅÊiÅlÅ¢ÅÆiÅl ÅÅwÅÅhœÅÅӃ¥iÅlÅÓhÓ¶ÅÓ the Board to grant, offer, issue and allot, in one or more tranches,
iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔœÅÓ¯ÅiÅl®ÅÓ žÅÅ¢ˆÅ ÅÅÅƮŌӯÅŸÅÔ iÅlŠť¢ˆÅ¸ÅÔiÅlÅÓ hiÅl ÅÅdÅÅƅÅiÅlœÅÅ¢ŸÅÔ to such permanent employees, whether working in India or
outside India, which expression shall include the Managing
ŒÓ˜ÅÓdÅÅۛÅl¢iÅl¢˜ÅÓÅƘźşŘÅdÅŜÅÄ}˜ÅiÅl¢˜ÅÓiÅÓlÅƬÅhwÅÅÓÅÆiÅlœÅØiÅliÅÓl›Å¨œÅąÅÅƘŌӯÅiÅl
Director & Chief Executive Officer and Executive Director(s)
®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅʈŋÅÅiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅlÅÔiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔwÅ׶ÅÅÅÆiÅl
œÅÅӃ¥–Å¢ÅÅƘŅÅÅ¥ÅÆ¢ˆÅ¸ÅÓ£›Å¨ÅƈÅeÅÆiÅm®Å}ÅʯÅӠŢdÅÄÅÆiÅlˆÅŸÅЬ ÅiÅÓl
ˆÅiÅleÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅlŸÅ¥ÀÅÅ¢Åʶ}ÅÛiÅlkÅl Å ÅÅÓwŘÅÅiÅÓlˆÅ¸ˆÅœÅÅӃ¥–Å¢ÅÅƘŅÅÅ¥ÅÆ¢ˆÅŘÅζÅÅ¢
¬ÅŞÅÅįÅiÅÓlžÅκňÅŘŶşÅӈŶŞÅÅÊ ¶ÅȞÅÅÕ ŸÅÔ œÅØiÅliÅÓlŸÅÅ×ÝwÅЌÅeÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅÓl¶ÅŋÅ
¶ÅŋÅhÓ¶ÅÓ ŸÅЬ Å ÅÅŸÅЬ ÅÅÔ ˆÅ‹ÅÅœÅÅӃ¥ –Å¢ÅÅƘŅÅÅ¥ÅÆ¢ˆÅŘÅζÅÅ¢hÓ¶ÅÓ ÅƘŜÅąŘŮůňÅÅÖ ›Å¢
¶Å¸ŸÅÅƈÅiÅlÅÓŒÝwÅ¥ÅÆiÅl ÅÅwÅňÅŸ×ß
the Board in its absolute discretion.”
21
of the Bank (“The Employees”), as may be decided by the
Board, up to 45,70,00,000 equity shares of face value of Rs. 10/-
(Rupees Ten only) each, ranking pari-passu with the existing
equity shares of the Bank for all purpose and in all respects,
including payment of dividend, as may be decided by the Board
under an Employee Stock Purchase Scheme), at such price or
prices, and on such terms and conditions as may be decided by


e¶ÅiÅÓldÅÅƈÅÅÆ¢‰Ål¶ÅÄiÅl¬›ÅÅƬŠÅÅwÅňÅŸ×ÅÆiÅlœÅØiÅlžÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅ®ÅÅÆ®ÅÅƘşŠÅœÅÅӃ¥ “RESOLVED FURTHER THAT the Bank shall conform to

¯ÅӠŢdÅŅÅÅÅÆ¢ˆÅiÅlŸÅ¥ÀÅÅ¢ÅÊ¬ÅŞÅÅÆ®ÅÅƘŠşÅiÅÓlÅÆ®ÅÅƘŠşÅŸÅÔÅƘÅÅƌ¥µ}¬ÅÓnÅÅÄiÅl˜Å the accounting policies as specified in Regulation 15 of the
Securities and Exchange Board of India (Share Based Employee
˜ÅÅÊÅƈŠÅÅÔ  ÅÅÅÆiÅl¶ÅÅÊ ¶ÅÅÄÅÆ®ÅÅƅÅiÅldÅůÅÅӅŘŘÅÅÔ¶ÅįÅÅӅŘŘÅÅÔ ÅÅf¶ÅiÅÓldÅÅƅÅÅƘŠşŘÅ Benefits) Regulations, 2014 or any statutory modification(s),
iÅlÅ›ÅŬŘÅiÅl¢ÓºÅÅß

amendment(s) or re-enactment thereof.”

“RESOLVED FURTHER THAT the Board be and is hereby

e¶ÅiÅÓl dÅÅƈÅÅÆ¢‰Ål œÅÅӃ¥ iÅlÅÓ ¶}ÅÛiÅl hiÅm¶ÅÀÅÔwÅ iÅÓl ¶ÅŋÅ ¯ÅÅÅƟŬÅ hiÅl¤›Å ¶ÅÐÀÅÅʜŐ authorized to take necessary steps for listing of the equity
iÅl¢Å¢ iÅÓl ÅƘŜÅąŘÅ ®Å ¯ÅˆÅÅÕ ®Å dŘ Å ¬ÅźÅÐ Åƌ¯ÅÅÅƘŌկÅÅÔ ÅƘŠşÅÅÔ ˆÅ‹ÅÅ ÅÆ®ÅÅƘŠşÅÅÔ iÅÓl shares allotted under the “Indian Overseas Bank – Employee
dŘÅζÅÅ¢¶}ÅÛiÅlhiÅm¶ÅÀÅÔwÅÅÔ wŸÅÜ œÅ×iÅliÅÓl¯ÅӠ޶ÅÐÀÅÅʜŐ¸Ø

eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅ Stock Purchase Scheme 2019-20 (IOB-ESPS 2019-20)”, on

the stock exchanges where the shares of the Bank are listed, as
œÅØiÅliÅlŸÅ¥ÀÅÅ¢ÅʯÅӠŢnÅ¢Åʌ ÅÅÓwŘÅÅdÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓlˆÅ¸ˆÅ per the terms and conditions of the uniform listing agreements
dÅŜÅÄÅÆ}ˆÅeÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅlÅÊ ÅƬÅÅƶ}ĺÅiÅÓlÅƬÅhdÅŮů ÅiÅliÅlŒŸÅfÅ˜ÅÓ iÅlÅÓ ›Å¨ÅÅƅÅiÅÒlˆÅ entered into with the stock exchanges and other applicable
iÅl¢˜ÅÓiÅlŶÅÄiÅl¬›ÅÅƬŠÅÅwÅňÅŸ×ß

guidelines, rules and regulations.”

“RESOLVED FURTHER THAT the Board be and is hereby

e¶ÅiÅÓldÅÅƈÅÅÆ¢‰ÅlœÅÅӃ¥ iÅlÅÓ hÓ¶ÅÓ ÅƘŜÅąŘŮůňÅÅÕwÅ׶ÅÅÅÆiÅlœÅÅӃ¥ –Å¢ÅÅƘŅÅÅ¥ÅÆ¢ˆÅ¸ÅÓ authorized to implement, formulate, evolve, decide upon
›Å¢

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓliÅlÅ ÅÅ¥˜®Å Å˜ÅºÅ˜Å›Å¨žÅŮşÅÔ¬ÅŘÅӈŋÅÅ and bring into effect the “IOB-ESPS 2019-20” on such

terms and conditions as may be decided by the Board
¶ÅŸÅ Å¶ÅŸÅ Å›Å¢

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓlÅƘŜÅąŘŮůňÅÅÕŸÅÔ¶ÅįÅÅӅŘÅ and to make any modification(s), change(s), variation(s),

›ÅÅÆ¢®ÅˆÅ¥˜Å iÅl¢˜ÅÓ iÅÓl ÅƬÅh ÅÆwŶşÅÔ iÅlÅʟňÅ dÅ®ÅÅƅÅ ›ÅŊňÅÅ ŸÅŘŌă  ÅÅ

dÅÅedÅÅӜÅÅÊ alteration(s) or revision(s) in the terms and conditions of the

e¥h¶Å›ÅÅÊh¶Å

iÅlÅÓ e¶ÅˆÅ¢ÅÊiÅÓl¶ÅÓ wÅ׶ÅÓ ÅÆiÅlœÅÅӃ¥ dśŘÅÓ ÅƮŮÅÓiÅlÅÅƅÅiÅlÅ¢ŸÅÔ “IOB-ESPS 2019-20”, from time to time, including but not
limited to, amendment(s) with respect to price, period, eligibility
ÅƘŇť ÅiÅl¢Ó¶Å¶›ÅԃdÅŸ¢‡ÅÅƘ޶ˆÅ ÅŶÅįÅÅÓÅƅňÅiÅl¢˜ÅůÅÅÅƟŬÅ¸× dÅÅ×¢¶ÅŋÅ criteria or to suspend, withdraw, terminate or revise the “IOB-
¸ÅÊ

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓliÅlÅ ÅÅ¥˜®Å Å˜ÅˆÅ‹ÅśŨ¶ˆÅÅÅƮňÅ

dÅÅedÅÅӜÅÅÊ ESPS 2019-20” in such manner as the Board may determine

 e¥h¶Å›ÅÅÊh¶Å 

 iÅÓl dŘÅΛÅŬŘÅ ŸÅÔ ÝwÅÅ¢ÅÊ ¯ÅӠŢÅÔ iÅÓl ¶ÅĜŅÅ ŸÅÔ fÓ ›Å¨¯˜ÅÅÔ in its sole discretion and also to settle all questions, difficulties
or doubts that may arise in relation to the implementation of the
iÅlÅƁ˜ÅÅe ÅÅÔ  ÅŶÅČӸÅÔ iÅÓlÅƘśÅ}ŘŸӈÅÎÅÆwŶşÅÔ ¯ÅӠޅÅÅ¢iÅlÅÔ iÅlÅÊ dŘ Å¶Å¸ŸÅÅƈÅ ÅÅ “IOB-ESPS 2019-20” and to the shares to be issued pursuant
dŘÅΟÅÅӌ˜ÅdśÅÓÅÆÂňŘŸÅ˸נÅůÅӠޅÅÅ¢iÅlÅÔ˜ÅÓe¶Å¶ÅÄiÅl¬›ÅiÅÓl›Å¨ÅÅƅÅiÅlÅ¢ÅÊ–Å¢ÅdśŘÅÅ to the proposed “IOB-ESPS 2019-20” without being required
dŘÅΟÅÅӌ˜ÅŒÓÅƌ ÅŸכŨÅÅƅÅiÅÒlˆÅiÅl¢˜ÅÓiÅlŶÅÄiÅl¬›ÅÅƬŠÅÅwÅňÅŸ×ß

to seek any further consent or approval of the Shareholders

or otherwise to the end and intent that the Shareholders shall

e¶ÅiÅÓl dÅÅƈÅÅÆ¢‰Ål  Å¸ ¶ÅiÅÄl¬›Å ÅÆiÅl ÅÅ ºÅ ÅÅ ÅÆiÅl ÅƘŌӯÅiÅlÅÔ iÅlÅÊ ¶ÅÅƟÅÅƈÅ  ÅÅÔ ›Å¨œÅąÅ be deemed to have given their approval thereto expressly by
authority of this resolution.”
ÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊ  ÅÅiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅliÅlÅÓ ÅÅœÅØiÅliÅÓl
“RESOLVED FURTHER THAT the Board be and is hereby
iÅÎl~dŘ ÅdÅÅƅÅiÅlÅ¢ÅÊ ÅÅÔiÅlÅÓe¶ÅŸÅԛŨŒ‰Å¶ÅžÅÅÊ ÅÅiÅÎl~dÅÅƅÅiÅlÅ¢ÅÔiÅlÅӛŨˆ ÅÅ ÅÅÓÅÆwňÅ authorized to delegate all or any of the powers herein conferred
iÅl¢˜ÅÓ iÅÓlÅƬÅhœÅÅӃ¥ iÅlÅÓ hˆÅŒÃ–ŢśŨÅÅƅÅiÅÒlˆÅÅÆiÅl ÅÅwÅÅhwÅÅÓÅÆiÅlžÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈŮŠon it, to the Committee(s) of Directors, the Managing Director
ÅÆ®ÅÅƘşŠÅœÅÅӃ¥¯ÅӠŢdÅŅÅÅÅÆ¢ˆÅiÅlŸÅ¥ÀÅÅ¢ÅÊ¬ÅŞÅÅÆ®ÅÅƘŠşÅ®ÅdŘ Å¬ÅźÅÐÅÆ®ÅÅƅÅ & Chief Executive Officer or Executive Director(s) or such other
officer(s) of the Bank as it may deem fit to give effect to the
iÅÓldŘÅΛÅŬŘÅŸÅÔf‰Ål¶ÅÄiÅl¬›ÅiÅlÅӛŨžÅÅÅƮňÅiÅl¢˜ÅÓiÅÓlÅƬÅhf›Å ÅΉÅlŸÅŘÅÓwÅÅhß

aforesaid Resolution in compliance to Securities and Exchange

Board of India (Share Based Employee Benefits) Regulations,
2014 and other applicable laws.

ÅƘŌӯÅiÅlŸÅă¬ÅiÅÓldÅŌӯŶÅÓ By order of the Board of Directors

ÀÅӚÅ× dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ Chennai (R Subramaniakumar)

 ›Å¨œÅ˜…ÅÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊ 27.05.2019 Managing Director & CEO

22
˜ÅÅÓ}öŠNOTES

 œÅׁiÅl iÅÓl iÅlÅ¢ÅӜÅÅ¢ iÅÓl ¶ÅĜÅąÅ ŸÅÔ žÅÅ×ÅƈÅiÅl ˆÅ‹ ÅÅÔ iÅlÅÓ ÅƘŅÅÅ¥ÅÆ¢ˆÅ iÅl¢˜ÅÓ ®ÅŬÅÅ 1. The Explanatory Statement setting out the material facts
in respect of the business of the meeting is annexed
® ÅÅn ÅňŸÅiÅl®Å‰Ål® Å Å¸ÅĶÅĬź˜Å¸×ß hereto.
 ›Å¨ÅÛiÅm¶ÅÅÊiÅlÅÊÅƘŠÅÎÅƉÅl 2. APPOINTMENT OF PROXY:
œÅׁiÅlŸÅÔf›ÅÅƶ‹ÅˆÅ¸ÅӘÅÓdÅÅ×¢®ÅÅÓ}iÅl¢˜ÅÓiÅÓlÅƬÅh›ÅŊůÅӠޅÅÅ¢iÅl¶®Å ÅÄdśŘÅÓ¶‹ÅŘÅ A SHAREHOLDER ELIGIBLE TO ATTEND AND VOTE, IS
›Å¢f›ÅÅƶ‹ÅˆÅ¸ÅӘÅÓdÅÅ×¢®ÅÅÓ}iÅl¢˜ÅÓiÅÓlÅƬÅhÅÆiÅl¶ÅÅʛŨÅiÅm¶ÅÅÊiÅlÅÓÅƘŠÅΉÅliÅl¢˜ÅÓiÅÓlÅƬÅh ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE
INSTEAD OF HIMSELF / HERSELF AND SUCH PROXY NEED
›ÅŊŸ×dÅÅ×¢›Å¨ÅiÅm¶ÅÅÊœÅØiÅliÅlůÅӠޅÅÅ¢iÅl¸ÅӠŸÝwŤ¢ÅʘŸÅ˸×ß
NOT BE A SHAREHOLDER OF THE BANK.
œÅ¸¢¸Å¬Å›Å¨ÅƈÅÅƘÅÅƅÅiÅlÅÊÅƘŠÅÎÅƉÅliÅÓl¶ÅĜÅąÅŸÅԛŊŜÅØiÅliÅÓliÅÓl˜•ÅÊ ÅiÅlÅ ÅÅ¥¬Å ÅŸÅÔœÅׁiÅl The instrument appointing proxy should, however be deposited
›Å¨Å¢ÄžÅ¸ÅӘÅÓiÅÓlÀÅÅ¢Åƌ˜Å›Å¸¬ÅÓdŋÅÅ¥ˆÅÃÅƌ˜ÅÅÄiÅlwÅάÅÅe¥iÅlÅÓdśŢŻ˜ÅœÅwÅÓ at the Central Office of the Bank not less than four days before
ˆÅiÅl ÅśŸ¬ÅÓwşÅÅiÅl¢ŒÓ˜ÅÅÀÅÅÅƸhß the date fixed for the meeting i.e. on or before 5th July, 2019,
5.00 p.m.
 ›Å¨ÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅÅiÅlÅÊÅƘŠÅÎÅƉÅl
3. APPOINTMENT OF AN AUTHORISED
iÅlÅÓe¥žÅÅÊÅÆ® Å‰ÅliÅÄl›Å˜ÅÅÊiÅÓlÅÆ®ÅÅƅŮňÅÛŨÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅÅiÅÓl¤›ÅŸÅÔeÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅ REPRESENTATIVE:
œÅØiÅliÅÓl¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÊÅÆiÅl¶ÅÅÊžÅÅÊœÅׁiÅlŸÅԈŜňÅiÅlžÅźÅ¬ÅӘÅÓiÅÓlÅƬÅh›ÅŊŘŸÅ˸ÅÓ No person shall be entitled to attend or vote at any meeting
¶ÅiÅlˆÅÅ ÅÅ®ÅÅÓ}˜Å¸ÅˌӶÅiÅlˆÅÅwŜňÅiÅlÅÆiÅlf¶ÅÓÅÆiÅl¶ÅÅÊiÅÄl›Å˜ÅÅÊiÅÓlÅÆ®ÅÅƅŮňÅÛŨÅÅƅÅiÅÒlˆÅ of the shareholders of Indian Overseas Bank as the duly
›Å¨ÅƈÅÅƘÅÅƅÅiÅÓl¤›ÅŸÅÔÅƘŠÅΉÅliÅl¢ˆÅÓ¸Îh›ÅÅÅÆ¢ˆÅ¶ÅÄiÅl¬›ÅiÅlÅʶň ÅÅÅƛňśŨÅƈÅwÅÅÓÅÆiÅlf¶Å authorised representative of a company unless a copy of the
œÅׁiÅliÅÓldŅ ÅÂŖŢśŨŸÅÅÅƇňÅà iÅlÅÊ ¸ÅÓÅÆwŶşÅÔ ›Å¨ÅƈÅÅƘÅÅƅÅiÅlÅÊ ÅƘŠÅÎÅƉÅliÅlŶÅÄiÅl¬›Å resolution appointing him as a duly authorized representative,
certified to be a true copy by the chairman of the meeting at
›ÅÅÅÆ¢ˆÅ¸×œÅØiÅliÅÓliÅÔl•ÅÊ ÅiÅlÅ ÅÅ¥¬Å ÅŸÅÔ œÅׁiÅliÅlÅÊ ÅƘŠňňÅÅ¢ÅÊnŶÅÓ ÀÅÅ¢Åƌ˜Å›Å¸¬ÅÓ
which it was passed, has been deposited at the Central Office
dŋÅÅ¥ˆÅÅƌ˜ÅÅÄiÅlwÅάÅÅe¥iÅlÅÓdśŢŻ˜ÅœÅwÅÓˆÅiÅl ÅśŸ¬ÅÓwşÅŘŸÅËiÅlÅÊ of the Bank not less than four days before the date fixed for the
wÅňÅÅʸ×ß meeting i.e. on or before 05th July, 2019, 5.00 p.m.
 œÅØiÅliÅÓlÅÆiÅl¶ÅÅÊžÅÅÊdÅÅƅÅiÅlÅ¢ÅÊdŋŮÅÅiÅlŸÅ¥ÀÅÅ¢ÅÊiÅlÅÓ¯ÅӠޅÅÅ¢iÅliÅÓl›Å¨ÅÅƅÅiÅÒlˆÅ 4. No officer or employee of the Bank shall be
›Å¨ÅƈÅÅƘÅÅƅÅdŋŮÅśŨÅÛiÅm¶ÅÅÊiÅÓl¤›ÅŸÅÔÅƘŠÅΉÅl˜Å¸ÅËÅÆiÅl ÅÅwÅÅhºÅÅß appointed as Authorised Representative or proxy of a
shareholder.
 f›ÅÅƶ‹ÅÅƈÅ›ÅÀÅÅÌ 5. ATTENDANCE SLIP
¯ÅӠޅÅÅ¢iÅlÅÔ iÅlÅÊ ¶ÅÎÅƮŅÅÅ iÅÓl ÅƬÅh f›ÅÅƶ‹ÅÅƈÅ ›ÅÀÅÅÌ e¶Å ˜ÅÅÓÅÆ}¶Å ¶ÅÓ wÅÎރÅÊ ¸Îe¥ ¸×ß For the convenience of the shareholders, Attendance Slip is
¯ÅӠޅÅÅ¢iÅlÅԛŨÅÛiÅm¶ÅÅÊ…ÅÅ¢iÅlÅÔdÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅŠÅÅÔ¶ÅÓdŘÅ΢ÅӅŸ×ÅÆiÅl®ÅÓf¶Å¶‹ÅŘÅ annexed to this notice. Shareholders/Proxy holders/Authorised
›Å¢f˜ÅiÅÓl¸¶ˆÅÅÂÅ¢iÅl¢ÔdÅÅ×¢¶‹Å¬Å›Å¢e¶ÅÓwşÅÅiÅl¢ÔiÅl¢Ô߯ÅӠޅÅÅ¢iÅlÅÔiÅÓl›Å¨ÅÛiÅm¶ÅÅÊ Representatives are requested to affix their signatures at the
space provided therein and surrender the same at the venue.
dÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅÅiÅlÅÓf›ÅÅƶ‹ÅÅƈÅ›ÅÀÅÅ̛Ţ›Å¨ÅÛiÅm¶ÅÅÊ ÅÅdÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅÅiÅÓl¤›Å Proxy/Authorized Representative of shareholders should state
ŸÅÔŸÅşŬÅÓiÅÓl¤›ÅŸÅÔ¸ÅӘÅÅÀÅÅÅƸh on the Attendance Slip as "Proxy" or "Authorized Representative"
as the case may be.
 ¯ÅӠŢ…ÅÅ¢iÅlÅÔiÅlÅ¢ÅÆwŶ}¢iÅlÅÓœÅČiÅl¢˜ÅÅ
6. CLOSURE OF REGISTER OF SHAREHOLDERS:
¯ÅӠޅÅÅ¢iÅlÅÔ iÅÓl ¢ÅÆwŶ}¢ dÅÅ×¢ œÅØiÅl iÅlÅÊ ¯ÅӠŢ dÅĈއÅ œÅÅƸ ÅÅÜ 
The Register of Shareholders and Share Transfer Books of
®ÅÒ¸¶›ÅÅƈŮÅÅ¢¶ÅÓœÅ΅ŮÅÅ¢ŒÅӘÅÅÔÅƌ˜ÅÅÔ¶ÅÅƸˆÅˆÅiÅlœÅČ¢¸ÔºÅÅÊß the Bank will remain closed from 04.07.2019 (Thursday) to
 dŌŮÅÅÊ¬ÅŞÅÅįÅ ÅÅƌiÅlÅÓe¥¸ÅÓ 10.07.2019 (Wednesday) (both days inclusive).
7. UNCLAIMED DIVIDEND, IF ANY
iÅÓlœÅŌ¶ÅÓ ÅÆwŘůÅӠޅÅÅ¢iÅlÅÔ ˜ÅÓ dśŘÅÓ ¬ÅŞÅÅįÅ®ÅÅÛ¢‡}iÅlÅÓ ˜Å¸ÅË žÅΘÅÅ ÅÅ
¬ÅŞÅÅįŘŸÅ˛ŨśˆÅÅÆiÅl ÅŸ×f˜Å¶ÅÓdŘÅ΢ÅӅŸ×ÅÆiÅl®ÅÓdŘÅÎÅƬÅÅƛÅ®ÅÅ¢Ä}wÅÅ¢ÅÊiÅl¢˜ÅÓiÅÓl The shareholders who have not encashed their Dividend
Warrants / received dividend from 2011-12 onwards are
ÅƬÅhœÅØiÅliÅÓl¢ÅÆwŶ}ªÅ¢h®ÅįÅӠŢdŘˆÅ¢‡ÅhwÅӇ}¶ÅÓ¶ÅěÅiÅ¥liÅl¢Ôß requested to contact the Registrar and Share Transfer Agent of
œÅØiÅliÅlÅ¢ÅÊiÅlŸ›Å˜ÅÅÊf›ÅkÅlŸÅÅÔiÅlÅdÅwÅ¥˜Åh®ÅÄdŘˆÅ¢‡ÅdÅÅƅÅÅƘŠşÅiÅlÅÊ…ÅŢŠthe Bank for issue of duplicate.
œÅÅÊ ŸÅÔ ¸Îh¶ÅįÅÅӅŘÅiÅÓldŘÅζÅÅ¢dŌŮÅÅÊ ¬ÅŞÅÅįÅnÅňÅÓ ŸÅÔ dŘˆÅ¢‡ÅiÅlÅÊ ˆÅÅ¢ÅÊnŶÅÓ  Pursuant to the amendment of the Act, Section 10B provides
®ÅµÅÅÖiÅlÅÊdÅ®ÅÅƅÅiÅÓlÅƬÅhžÅκňÅŘŘÅÅÆiÅlhºÅh ÅÅdŌŮÅÅʯÅÓµÅ¬ÅŞÅÅįÅiÅlÅÊ¢iÅlŸÅiÅÄl›Å˜ÅÅÊ that the amount of dividend remaining unpaid or unclaimed for
a period of seven years from the date of transfer to the Unpaid
dÅÅƅÅÅƘŠşÅ  iÅlÅÊ …ÅŢŠ iÅÄl›Å˜ÅÅÊ dÅÅƅÅÅƘŠşÅ  iÅlÅÊ …ÅŢŠ ¶ÅÅÊ iÅÓl Dividend Account is required to be transferred to the Investor
dŅÅÅʘÅiÅÓl˜•¶Å¢iÅlÅ¢–ŢŶ‹ÅÅÅƛňÅÅƘŮÅÓ¯ÅiÅlÅƯÅÂÅÅh®ÅÄ ¶ÅÄ¢ÂŇÅÅƘÅÅƅÅdÅÅe¥ e¥ ›ÅÅÊ Education and Protection Fund (IEPF) established by the
h›ÅlŸÅÔd؈ÅÅÆ¢ˆÅiÅl¢˜ÅÅʸ×ß Central Government under Section 125 of the Companies Act,
2013 (Section 205C of The Companies Act, 1956).
 ›ÅˆÅÓŸÅÔ›ÅÅÆ¢®ÅˆÅ¥˜Å
8. CHANGE OF ADDRESS:
ÅÆwŘůÅӠޅÅÅ¢iÅlÅÔiÅÓl¯ÅӠŢžÅÅ×ÅƈÅiÅl¤›ÅŸÅÔ¸Øf˜ÅŸÅşŬÅÅÔŸÅÔf˜Å¶ÅÓdŘÅ΢ÅӅÅÅÆiÅl ÅÅ In case of shareholders holding shares in physical form, they
wÅňÅŸ×ÅÆiÅl®ÅÓdśŘÅӛňÅÓŸÅÔ›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅlÅÓÅƘş˜ÅÅƬÅÅÆnňśňÅӛŢ¢ÅÆwŶ}ªÅ¢®Å¯ÅӠŢ are requested to intimate to the Registrar and Share Transfer
dÅĈއÅhwÅÔ}iÅlÅÓžÅÓwÅŒÔ Agent of the Bank any change in their address to

23
 ŸÅӶŶťiÅ×lÅƟŠÅÅÓiÅlÅۛÅÅÕ¢Ó}¶ÅÅƮť¶ÅÓ¶ÅÅƬÅÅƟÅ}ӃdÅÅedÅÅӜÅÅÊ ÅÐÅƘÅ} M/s. Cameo Corporate Services Ltd. (Unit - IOB)
®ÅÅĈŬŶÅΜŨŸÅÅƇŠŘÅÅƜÅÅƬƒÄºÅ V floor, Subramanian Building,
˜ÅÄiÅm¬ÅœÅ¸Åf¶Å¢ÅӃÀÅӚÅ× No. 1, Club House Road, Chennai 600 002
¯ÅӠŢ e¬ÅÓiÅm}ªÅÅƘÅiÅl ›Ålşť dŋÅÅ¥ˆÅ ƒÅʟÅ×} nÅňÅÓ iÅÓl ŸÅŅ ÅŸÅ ¶ÅÓ ¢nŘÅÓ ®ÅŬÅÓ wÅÅÓ In case of shareholders holding shares in Electronic form i.e.
¯ÅӠޅÅÅ¢iÅldśŘÅÓ¬ÅŞÅÅįÅ®ÅÅ¢Ä}eˆ ÅÅÅƌ›Å¢dśŘÅӛňÅÓŸÅÔ¸Îh›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅlÅʶÅÐÀŘÅÅ through Demat account, they are requested to intimate to their
dśŘÅÓÅƃ›ÅÅÅÆÝwÅ}¢ÅʛŨÅƈŞÅźÅÅÊiÅlÅӌӌÔß depository participant any change in their address.
9. CONSOLIDATION OF FOLIOS:
 ›ÅlÅÓÅƬŠÅÅÓiÅlŶşÅÓiÅl˜Å
It has been found that many shareholders maintain more
 Å¸›ÅÅ ÅźŠÅŸ×ÅÆiÅliÅle¥¯ÅӠޅÅÅ¢iÅlhiÅl¶ÅÓdÅÅƅÅiÅl›ÅlÅÓÅƬŠÅÅÓ ÅÅÅƘÅÅÆ®ÅÅƮŅÅ›ÅlÅÓÅƬŠÅÅÓ than one folio (i.e.) multiple folios. In order to provide efficient
¢nňÅÓ ¸Ø ßiÅÎl¯Å¬Å¶ÅÓ®ÅśŨŒÅ˜ÅiÅl¢˜ÅÓ iÅÓlÅƬÅh¸ŸÅ¯ÅӠޅÅÅ¢iÅlÅÔ ¶ÅdŘÅ΢ÅӅÅiÅl¢ˆÅÓ ¸Ø service, we request the shareholders to consolidate the folios
ÅÆiÅl®ÅÓ dśŘÅÓ ¯ÅӠŢ›Å¨ŸÅŇśŊÅÅÔ iÅlÅÓ ¸ŸÅÅ¢Ó ¢ÅÆwŶ}ªÅ¢®Å¯ÅӠŢdÅĈއÅhwÅÔ}iÅlÅÓ f˜ÅiÅÓl by forwarding their share certificates to Registrar and Share
Transfer Agents for necessary corrections in their records.
ÅÆ¢iÅlÅۃ¥ŸÅÔdÅŮů ÅiÅl¶Å΅ÅÅ¢¸ÓˆÅΞÅÓwňÅÓ¸Îh›ÅlÅÓÅƬŠÅÅÓiÅlŶşÅÓiÅl˜ÅiÅl¢Ôß
10. VOTING RIGHTS
 ®ÅÅÓÅÆ}ĺÅdÅÅƅÅiÅlÅ¢
In terms of the provisions of sub-section (2E) of Section 3 of
dÅÅƅÅÅƘŠşÅiÅlÅÊ …ÅÅ¢ÅiÅÓlf›ÅnÅăe¥iÅÓl›Å¨Å®Å…ÅŘÅÅÔ iÅÓldŘÅζÅÅ¢¶ÅŸÅ®ÅˆÅÅÌ ˜ÅhœÅØiÅl the Act, no shareholder of the corresponding new Bank, other
iÅÓlÅÆiÅl¶ÅÅÊ žÅÅÊ ¯ÅӠޅÅÅ¢iÅliÅlÅÓ iÅÔl•¶Å¢iÅlÅ¢iÅÓldŬÅÅ®ÅÅdśŘÅÓ –ŢŅÅÅÅÆ¢ˆÅÅÆiÅl¶ÅÅÊ than the Central Government, shall be entitled to exercise voting
rights in respect of any shares held by him/her in excess of
žÅÅÊ ¯ÅӠŢ iÅÓl ¶ÅŸœÅ˜…Å ŸÅÔ œÅØiÅl iÅÓl ¶ÅžÅÅÊ ¯ÅӠޅÅÅ¢iÅlÅÔ iÅÓl iÅÎl¬Å ®ÅÅÓÅÆ}ĺÅ dÅÅƅÅiÅlÅ¢ÅÔ iÅÓl
ten per cent of the total voting rights of all the shareholders of
Œ¶Å ›Å¨ÅƈůňÅ ¶ÅÓ dÅÅƅÅiÅl ®ÅÅÓÅÆ}ĺÅ iÅlÅ dÅÅƅÅiÅlÅ¢ ˜Å¸ÅË ¸ÅÓºÅÅß dÅÅƅÅÅƘŠşÅ ÅÆ®ÅÅƘŠşÅ the Bank. In case of any amendments to the Act, Regulation
dÅÅƅÅÅƘŠşÅ ÅÅÓwŘÅÅh®ÅÄÅÆ®ÅÅƘŠşÅÅÔŸÅÔÅÆiÅl¶ÅÅʛŨiÅlÅ¢iÅÓl¶ÅįÅÅӅŘÅiÅÓlŸÅşŬÅÓŸÅÔÅÆwŶÅiÅlÅÊ Act, Scheme and Regulations which would result in change of
®ÅwŸ¶ÅÓ¶ÅÐÀŘÅÅŸÅÔŒÅʺÅe¥®ÅˆÅ¥ŸÅŘśŨÅÆkÅl ÅÅŸÅÔÅÆiÅl¶ÅÅÊ ÅÅÅƸ¶¶ÅÓŸÅԜŌ¬ÅŮŸÅӈÅŸ׈ÅÅÓ any or part of the existing process as laid in this Notice, the
amendment shall prevail.
¶ÅįÅÅӅŘŸÅÊŸÅŘ Å¸ÅÓºÅÅß
11. REMOTE E-VOTING
 ÅÆ¢ŸÅÅÓ}e¥®ÅÅÓÅÆ}ĺÅ
Pursuant to LODR Regulations and the Uniform Listing
h¬ÅdÅÅӃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşÅh®ÅĶ}ÅÛiÅlhiÅm¶ÅÀÅÔwÅiÅÓl¶ÅŋÅÅƬÅÅƶ}ĺÅiÅl¢Å¢iÅÓldŘÅζއÅŸÅÔ Agreements with stock exchanges, your Bank is pleased to
œÅØiÅliÅlÅÓÅÆ¢ŸÅÅÓ}e¥®ÅÅÓÅÆ}ĺŶÅÎÅƮŅÅśŨŒÅ˜ÅiÅl¢˜ÅÓŸÅÔnÅίÅÅʸÅÓ¢¸Åʸ×ÅÆwŶŶÅÓ¯ÅӠޅÅÅ¢iÅl provide Remote e-voting facility to enable shareholders to cast
dśŘÅÅ®ÅÅÓ}¶ÅÐÀŘÅÅŸÅÔ®ÅÅƇťˆÅŸÅŒÅԛŢe¬ÅÓiÅm}ªÅÛÅƘÅiÅl¤›Å¶ÅÓ®ÅÅÓ}ŒÓ›ÅÅhĺÅÓe¶ÅiÅÓlÅƬÅh their votes electronically on the items mentioned in the notice
for which Bank has appointed Central Depository Services
œÅØiÅl ˜ÅÓ e¥›¬ÅÓ}›ÅlÅ۟ť ¶ÅÎÅƮŅÅÅ ›Å¨ŒÅ˜Å iÅl¢˜ÅÓ iÅÓl ÅƬÅh ¶ÅÔ}ª¬Å Åƃ›ÅÅÛÅÆwÅ}¢ÅÊwÅ ¶ÅÅƮť¶ÅÓÝwÅ
(India) Ltd. (CDSL) as e-voting agency to provide the remote
eÄÅƃ ÅÅ ÅƬÅÅƟÅ}Ӄ ¶ÅÅʃÅÊh¶Åh¬Å iÅlÅÓ e¥®ÅÅÓÅÆ}ĺÅ hwÅÔ¶ÅÅÊ iÅÓl ˆÅÅ×¢ ›Å¢ ÅƘŠÅΉÅl ÅÆiÅl ÅÅ e-voting platform. E-voting is optional. The E-voting rights of
¸×ße¥®ÅÅÓÅÆ}ĺÅ®Å×iÅlÅƬ›ÅiÅl¸×߯ÅӠޅÅÅ¢iÅlÅÔ ¬ÅŞÅiÅlˆÅÅ¥dÅÅÔ –Å¢ÅœÅ΅ŮÅÅ¢ˆÅiÅl…ÅÅÅÆ¢ˆÅ the shareholders/beneficiary owners shall be reckoned on the
eÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅÓl¶ÅŸœÅ˜…ÅŸÅÔ¸ÅÊf˜ÅiÅÓl®ÅÅÓÅÆ}ĺÅdÅÅƅÅiÅlÅ¢ÅÔiÅlÅӺŇŘÅÅŸÅÔÅƬŠÅÅwÅÅhºÅÅß equity shares held by them as on Wednesday, 03.07.2019
e¶ÅfŒÃӌ¯ ÅiÅÓlÅƬÅhœÅ΅ŮÅÅ¢dÅÄÅƈşÅÅƈÅÅƋŸ×ßœÅØiÅliÅÓl¯ÅӠޅÅÅ¢iÅl being the Cut-off Date for the purpose. Shareholders of the
Bank holding shares either in physical or in dematerialized form,
ÅÆwŘÅiÅÓl›ÅŶÅdÅÄÅƈşÅÅƈÅÅƋňÅiÅlœÅØiÅliÅÓl¯ÅӠŢžÅÅ×ÅƈÅiÅl ÅÅdşÅЈť ¤›ÅŸÅÔ ¸Ø®ÅÓ dśŘÅÅ as on the Cut-off Date, may cast their vote electronically.
®ÅÅÓ}e¬ÅÓiÅm}ªÅÛÅƘÅiÅlˆÅ¢ÅÊiÅÓl¶ÅӃŬŶÅiÅlˆÅÓ¸Øß
12. VOTING PROCESS on 10th July 2019
 wÅάÅÅe¥iÅlÅÓ®ÅÅÓÅÆ}ĺśŨÅÆkÅl ÅÅ After the agenda item has been discussed, the Bank will conduct
voting in respect of the agenda item. Voting will be conducted
iÅlŠť®Å҉ÅŸÅŒÅԛŢÀÅÀÅÅ¥iÅÓl›Å¯ÀÅňÅiÅlŠť®Å҉ÅŸÅŒÅÔiÅÓl¶ÅŸœÅ˜…ÅŸÅÔœÅØiÅl®ÅÅÓÅÆ}ĺÅdÅÅ ÅÅÓÅÆwňÅ
and supervised by the Scrutinizer appointed for the purpose
iÅl¢ÓºÅÅß ®ÅÅÓÅÆ}ĺÅ iÅlÅ dÅÅ ÅÅÓwŘÅ dÅÅ×¢ f¶ÅiÅlÅ ›Å Å¥®ÅÓÂŇÅ e¶Å f Ó¯ Å iÅÓl ÅƬÅh ÅƘŠÅΉÅl The shareholders / Proxy(ies) / Authorised Representative(s)
wÅÅÄÀÅiÅlˆÅÅ¥dÅÅÔ–Å¢ÅÅÆiÅl ÅÅwÅÅhºÅÅß¶ÅşÅŘ ÅœÅׁiÅliÅÓl¶‹ÅŘśŢŸÅÅ×wÅЌ¯ÅӠޅÅÅ¢iÅlÅÔ present at the venue of the general meeting can exercise their
›Å¨ÅÛiÅm¶ÅÅÊ ÅÅÔ›Å¨ÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅÅ ÅÅÔ–ŢŮÅÅÓÅÆ}ĺśŨÅÆkÅl ÅÅiÅÓldÅĈźťˆÅ®ÅÅÓ}ƒÅ¬ÅÅwÅÅ votes through voting process. However, the shareholders who
have already cast their votes through remote e-voting will not
¶ÅiÅlˆÅŸ×߸ŬÅÅÄÅÆiÅl¯ÅӠޅÅÅ¢iÅlÅÆwظÅԘÅÓ ÅÆ¢ŸÅÅÓ}e¥®ÅÅÓÅÆ}ĺÅiÅÓlwÅÅÆ¢hdśŘÅÅ®ÅÅÓ}
be entitled to participate in the voting process at the venue of
›Å¸¬ÅÓ¸ÅʃŬÅÅƌ ÅŸ׮ÅÓœÅׁiÅliÅÓl¶‹Å؜ޮÅÅÓÅÆ}ĺśŨÅÆkÅl ÅÅŸÅÔ¯ÅÅÅƟŬŸÅӘÅÓiÅÓl›ÅŊÅ the meeting. After conclusion of the voting, the Chairman will
˜Å¸Å˸ÅÔºÅÓß®ÅÅÓÅÆ}ĺÅiÅlÅʶşÅÅÅƛˆÅiÅÓlœÅŌdŅ ÅÂÅe¶ÅœÅׁiÅliÅlÅÓ¶ÅŸÅśˆÅ¾ÅÅÓÅƵňÅiÅl¢ÔºÅÓß declare the meeting as closed.
®ÅÅÓÅÆ}ĺÅ›ÅÅÆ¢‡ÅşŠ13. VOTING RESULT
The Bank has appointed M/s R Sridharan & Associates,
œÅØiÅl˜ÅÓ ÅÆ¢ŸÅÅÓ}e¥ŸÅˆÅŒÅ˜Å›Å¨ÅÆkÅl ÅÅdÅÅ ÅÅÓÅÆwňÅiÅl¢˜ÅÓ dÅÅ×¢œÅׁiÅlŸÅÔ žÅÅ×ÅƈÅiÅlŸÅˆÅŒÅ˜Å Company Secretaries, as the Scrutinizer for conducting the
›Å¨ÅÆkÅl ÅÅiÅlÅÓ ÅƘŵ›ÅÂÅdÅÅ×¢›ÅÅ¢Œ¯ÅÅÌ ˆÅ¢ÅÊiÅÓl¶ÅÓ dÅÅ ÅÅÓÅÆwňÅiÅl¢˜ÅÓ iÅÓlÅƬÅhŸÅӶŶť dÅÅ¢ remote e-voting process and the physical voting process at the
³ÅÅʅޘÅhăh¶ÅÅÓÅƶÅh}öÅiÅÄl›Å˜ÅÅʶÅÅÆÀÅ®ÅÅÔiÅlÅÓ¶ÅÄ®ÅÅÊÂÅiÅliÅÓl¤›ÅŸÅÔÅƘŠÅΉÅlÅÆiÅl ÅŸ×ß meeting in a fair and transparent manner.

¶ÅÄ®ÅÅÊÂÅiÅlhwÅÅÊhŸÅiÅÓl¶ÅŸÅśŘśůÀÅňÅhwÅÅÊhŸÅŸÅˆÅŒÅ˜ÅiÅÓlnňŸÅ¸ÅӘÅӛŢ¾ÅÄ}ÅÔiÅÓl The Scrutinizer shall after the conclusion of voting at the AGM,
within forty eight hours of the conclusion of the AGM, issue a
dÅČ¢œÅׁiÅliÅÓldŅ ÅÂÅiÅlÅÓÅƮůÅӵśŨ¶ˆÅÅ®ÅiÅÓl›ÅÂÅŸÅÔ ÅÅf¶ÅiÅÓl›ÅÂÅŸÅÔiÅÎl¬Å®ÅÅÓ}ÅÔiÅlÅÊ consolidated Report of the total votes cast in favour of or against
hiÅl¶ÅŸÅÓÅÆiÅlˆÅÅÆ¢›ÅÅÓ}¥wÅÅ¢ÅÊiÅl¢ÓºÅÅß the Special Resolution to the Chairman of the meeting.

24
®ÅÅÓÅÆ}ĺÅ›ÅÅÆ¢‡ÅşÅœÅØiÅl–ŢŶ}ÅÛiÅlhiÅm¶ÅÀÅÔwÅÅÔŸÅÔ¾ÅÅÓÅƵňÅÅÆiÅlhwÅÅhĺÅÓœÅØiÅliÅlÅÊ®ÅӜŶÅÅe}ÅÔ The Voting Results will be announced by the Bank to the stock
dÅÅ×¢¶ÅÅʃÅÊh¶Åh¬Åe¥®ÅÅÓÅÆ}ĺÅhwÅÔ¶ÅÅÊŸÅÔ¸ÅÓ¶}ÅÆiÅlhwÅÅhĺÅÓß exchanges, hosted in the websites of the Bank and CDSL, the
e-voting agency.
ÅÆ¢ŸÅÅÓ}e¥®ÅÅÓÅÆ}ĺÅiÅÓlÅƬÅhdŘÅΌӯÅÅƘş˜Å›Å¨iÅlÅ¢¶ÅÓ¸Ø The instructions for Remote E-Voting are as under:
¶ÅŒ¶ ÅÅÔ ¶ÅÓ dÅźŨ¸ ¸× ÅÆiÅl ®ÅÓ e¥®ÅÅÓÅÆ}ĺÅ iÅÓl wÅÅÆ¢h dśŘÅÅ ®ÅÅÓ} ƒÅ¬Å˜ÅÓ iÅÓl ÅƬÅh ÅƘş˜Å Members are requested to follow the instruction below to cast
dŘÅΌӯÅÅÔiÅlÅ›ÅŬŘÅiÅl¢Ô their vote through e-voting:
L ®ÅÅÓÅ}Æ ºÄ ÅiÅlÅÊdÅ®ÅÅƅÅiÅlÅÓ¶ÅΜŸœÅwÅÓdÅÅeh¶Å}ÅÊ¯ÅΤ¸ÅÓºÅÅÊdÅÅ×¢ (i) The voting period begins on 07.07.2019, at 9.00 a.m.
iÅlÅÓ¯ÅşÅœÅwÅÓdÅÅeh¶Å}ÅÊiÅlÅÓ¶ÅŸÅśˆÅ¸ÅÓ¢¸Åʸ×ße¶ÅdÅ®ÅÅƅÅ (IST), and ends on 09.07.2019 at 5.00 p.m. (IST). During
this period shareholders of the Bank, holding shares
iÅÓlŒÅעŘÅiÅÄl›Å˜ÅÅÊiÅÓl¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÓwÅÅÓf˜¸ÔžÅÅ×ÅˆÆ ÅiÅl¤›ÅŸÅÔ ÅÅœÅÓiÅlźÅÝwÅÅÊiÅÒlˆÅ¤›Å
either in physical form or in dematerialized form, as on the
ŸÅÔiÅl}dÅÅۛÅliÅlÅÊÅƈÅÅƋÅ…ÅÅÅÆ¢ˆÅÅÆiÅlh¸Îh¸Ø®ÅÓdśŘÅÅ®ÅÅÓ}e¬ÅÓiÅm}Ū ÅÛ ˜Æ ÅiÅl cut-off date 03.07.2019 may cast their vote electronically.
¤›Å¶ÅӃŬŶÅiÅlˆÅÓ¸Øße¶ÅiÅÓlœÅŌ¶ÅÅÊh¶ÅƒÅÊh¬Å–Å¢Åe¥®ÅÅÓÅ}Æ ºÄ ÅŸÅÅۃ¡ÅЬÅiÅlÅÓdŶşŋť The e-voting module shall be disabled by CDSL for voting
iÅl¢Åƌ ÅÅwÅÅhºÅÅß thereafter.
LL e¥®ÅÅÓÅÆ}ĺÅiÅÓlÅƬÅh¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÓ®ÅӜŶÅÅe}ZZZHYRWLQJLQGLDFRP›Å¢ (ii) The shareholders should log on to the e-voting website
¬ÅÅÛºÅdÅÅۘÅiÅl¢˜ÅÅÀÅÅÅƸhß www.evotingindia.com.
(iii) Click on Shareholders.
LLL ¯ÅӠ޸ÅÓ¬ƒ¶Å¥›Å¢ÅÆiÅm¬ÅiÅliÅl¢Ôß
(iv) Now Enter your User ID
LY dŜÅdśŘÅÅÊ ÅÐÝwÅ¢dÅÅeƒÅʛŨÅƮŵ}iÅl¢Ô
a. For CDSL: 16 digits beneficiary ID,
 iÅl ¶ÅÅÊh¶ÅƒÅÊh¬ÅiÅÓlÅƬÅhdÅÄiÅlÅÔiÅlÅ¬ÅŞÅiÅlˆÅÅ¥dÅÅeƒÅÊ
b. For NSDL: 8 Character DP ID followed by 8 Digits
 nÅ h˜Åh¶ÅƒÅÊh¬ÅiÅÓlÅƬÅhiÅ×l¢ÓiÅm}¢iÅlÅʃÅʛÅÅÊdÅÅeƒÅÊiÅÓlœÅŌdÅÄiÅlÅÔiÅlÅÊ Client ID,
iÅm¬ÅÅhÄ}dÅÅeƒÅÊ c. Members holding shares in Physical Form should
 ºÅ žÅÅ×ÅƈÅiÅl¤›ÅŸÅÔ ¯ÅӠޅÅÅÅÆ¢ˆÅiÅl¢˜ÅÓ ®ÅŬÅÓ ¶ÅŒ¶ ÅÅÔ iÅlÅÓ iÅÄl›Å˜ÅÅÊ iÅÓl¶ÅŋÅ enter Folio Number registered with the Bank.
›ÅÄwÅÅÊiÅÒlˆÅ›ÅlÅÓÅƬŠÅÅÓ¶ÅÄn ÅśŨÅƮŵ}iÅl¢˜ÅÅÊÀÅÅÅƸhß (v) Next enter the Image Verification as displayed and Click
on Login.
Y e¶ÅiÅÓlœÅŌ›Å¨ŒÅƯťˆÅdŘÅζÅÅ¢eŸÅÓwÅ®ÅÓÅÆ¢ÅƛÅliÅÓl¯Å˜Å›Å¨ÅƮŵ}iÅlÅÊÅÆwÅhdÅÅ×¢¬ÅÅÛºÅ
e˜Å›Å¢ÅÆiÅm¬ÅiÅliÅl¢Ôß (vi) If you are holding shares in demat form and had logged
on to www.evotingindia.com and voted on an earlier
YL  ÅÅƌdÅśÅiÅÓl›ÅŶůÅӠŢƒÅʟÅ×}¤›ÅŸÅÔ¸ØdÅÅ×¢dÅśÅZZZHYRWLQJLQGLDFRP voting of any company, then your existing password is to
›Å¢¬ÅÅÛºÅdÅŘÅiÅl¢›Å¸¬ÅÓ ÅÆiÅl¶ÅÅÊ dŘ ÅiÅÄl›Å˜ÅÅÊ iÅlÅÊ ®ÅÅÓÅÆ}ĺÅŸÅÔ ®ÅÅÓ}ƒÅ¬ÅÀÅÎiÅÓl¸Ø be used.
ˆÅœÅdÅśÅiÅlÅÓŸÅÅ×wÅЌÅ›ÅŶŮŃ¥e¶ˆÅӟÅŬÅiÅl¢˜ÅŸ×ß (vii) If you are a first time user follow the steps given below:
YLL  ÅÅƌdÅśÅ›Å¨‹ÅŸÅœÅÅ¢f›Å ÅÅÓºÅiÅl¢¢¸Ó¸ØˆÅÅÓ˜ÅÅÊÀÅÓÅƌhiÅlŒŸÅÅÔiÅlÅ›ÅŬŘÅiÅl¢Ô For Members holding shares in Demat Form
and Physical Form
ƒÅʟÅ×}dÅÅ×¢žÅÅ×ÅƈÅiÅl¤›ÅŸÅÔ ¯ÅӠŢ…ÅÅÅÆ¢ˆÅiÅl¢˜ÅÓ ®ÅŬÅÓ ¶ÅŒ¶ ÅÅÔ iÅÓl PAN Enter your 10 digit alpha-numeric PAN issued
ÅƬÅh by Income Tax Department (Applicable for
›ÅטŠdÅÅ ÅiÅl¢ÅƮŞÅźÅ–Å¢ÅwÅÅ¢ÅÊ dśŘÅÅdÅÄiÅlÅÔ iÅlÅdŬ›ÅlŘ ÅПÅÓÅ¢Æ iÅl›ÅטÅ both demat shareholders as well as physical
›Å¨Å®Æ ŵ}iÅl¢ÔŒÅӘÅÅÔƒÅʟÅ×}dÅÅ×¢žÅÅ×ÅˆÆ ÅiÅl¤›Å¶ÅÓ¯ÅӠŢ…ÅÅÅÆ¢ˆÅiÅl¢˜ÅÓ®ÅŬÅÅÔ shareholders)
›Å¢¬ÅźÅÐ ‡ 0HPEHUV ZKR KDYH QRW XSGDWHG WKHLU 3$1
‡ ¶ÅŒ¶ ÅÅÆwظÅԘÅÓ dśŘÅÅ›ÅטÅiÅÄl›Å˜ÅÅÊ Åƃ›ÅÅÛÅÆÝwÅ}¢ÅÊ ›ÅÅÅÆ}¥ÅƶśÅÔ}iÅÓl with the Company/Depository Participant are
requested to use the first two letters of their
›ÅŶÅdŔňŘŘŸÅËiÅl¢Å ÅŸ×f˜Å¶ÅÓdŘÅ΢ÅӅŸ×ÅÆiÅl®ÅÓdśŘÅÓ˜ÅşÅiÅÓl name and the 8 digits of the sequence number
›Å¸¬ÅÓŒÅÓdÅÂÅ¢ÅÔdÅÅ×¢›ÅטÅ›ÅlÅʬƒŸÅÔÅƶÅiÅm®ÅԶŶÅÄn ÅÅdÅÅÔiÅÓldÅÄiÅl in the PAN field.
iÅlśŨ ÅÅÓºÅiÅl¢Ôß ‡ ,Q FDVH WKH VHTXHQFH QXPEHU LV OHVV WKDQ 
‡  ÅÅƌÅƶÅiÅm®ÅԶŶÅÄn ÅÅdÅÄiÅlÅÔ ¶ÅÓ iÅlŸÅ¸× ˆÅÅÓ ¶ÅÄn ÅŶÅÓ ›Å¸¬ÅÓ dÅÅ×¢ digits enter the applicable number of 0’s before
the number after the first two characters of the
dśŘÅÓ˜ÅşÅiÅÓlŒÅÓdÅÂÅ¢ÅÔiÅlÅÓiÅ×lÅƛÅ}¬Å¬ÅÓ}¢ŸÅÔÅƬÅnŘÅÓiÅÓlœÅŌÅÆwňŘÅÅÊ
name in CAPITAL letters. Eg. If your name is
¶ÅÄn ÅÅdÅÅÔ iÅlÅÊ dÅŮů ÅiÅlˆÅŸÅÓ fˆÅ˜ÅÓ

¯ÅИ Å›Å¨Å®Æ ŵ}iÅl¢Ô  ÅÅÅƘÅ Ramesh Kumar with sequence number 1 then
 ÅÅƌdÅśÅiÅlÅ˜ÅşÅ¢ŸÅÓ¯ÅiÅÎlŸÅÅ¢¸×dÅÅ×¢ÅƶÅiÅm®ÅԶŶÅÄn ÅŸ׈ŜśÅטÅ enter RA00000001 in the PAN field.
›ÅlÅʬƒŸÅÔdÅÅ¢h›Å¨Å®Æ ŵ}iÅl¢Ôß Dividend Enter the Dividend Bank Details or Date of Birth
¬ÅŞÅÅįÅœÅØiÅl Bank (in dd/mm/yyyy format) as recorded in your
¬ÅÅÛºÅe˜ÅiÅl¢˜ÅÓiÅÓlÅƬÅh¬ÅŞÅÅįÅœÅØiÅl ÅÅw؟ÅÅƈÅÅƋŃÅʃÅÊhŸÅhŸÅ
Details demat account or in the company records in
ÅƮŮއÅ ®ÅÅe¥®ÅÅe¥®ÅÅe¥®ÅÅe¥ ›Å¨Å¤›ÅŸÅÔ›Å¨ÅƮŵ}iÅl¢Ô wÅ׶ÅÅÅÆiÅldÅśÅiÅÓlƒÅʟÅ×}
¾ããw؟Å OR Date of order to login.
nÅňÅÓŸÅÔ ÅÅiÅÄl›Å˜ÅÅÊŸÅÔŒÝwÅ¥¸×ß
Birth (DOB) ‡ ,I ERWK WKH GHWDLOV DUH QRW UHFRUGHG ZLWK WKH
ÅƈÅÅƋŃÅÊdÅÅӜÅÅÊ ‡ ÅÅƌŒÅӘÅÅÔÅƮŮއÅÅƃ›ÅÅÛÅÆÝwÅ}¢ÅÊ ÅÅiÅÄl›Å˜ÅÅÊiÅÓl›ÅŶÅŒÝwÅ¥˜Å¸Å˸؈ŜŠdepository or company please enter the
iÅÒl›Å ÅÅ¬ÅŞÅÅįÅœÅØiÅlÅƮŮއÅnÅŬÅÅʶ‹ÅŘÅŸÅÔLYŸÅÔÅƌhdŘÅΌӯÅÅÔ member id / folio number in the Dividend Bank
iÅÓldŘÅζÅÅ¢¶ÅŒ¶ ÅdÅÅeƒÅÊ›ÅlÅÓÅƬŠÅÅÓ¶ÅÄn ÅśŨÅƮŵ}iÅl¢Ôß details field as mentioned in instruction (iv).

25
9,,, e˜ÅÅƮŮއÅÅÔ iÅlÅÓ ¶Å¸ÅÊ ›Å¨iÅlÅ¢¶ÅÓ žÅ¢˜ÅÓ iÅÓlœÅŌ

¶ÅœÅÅƟÅ}

}לśŢÅÆiÅm¬ÅiÅl (viii) After entering these details appropriately, click on

iÅl¢Ôß “SUBMIT” tab.

L[ žÅÅ×ÅƈÅiÅl¤›ÅŸÅÔ¯ÅӠŢ…ÅÅÅÆ¢ˆÅiÅl¢˜ÅÓ®ÅŬÅӶŌ¶ Åe¶ÅiÅÓlœÅŌ¶ÅÅʅÅÓiÅÄl›Å˜ÅÅÊÀŠŘÅ (ix) Members holding shares in physical form will then directly
reach the Company selection screen. However, members
iÅlÅÊÅƶkÅl˜Å›Å¢›Å¸ÎÄÀÅwÅÅhĺÅÓ߸ŬÅÅÄÅÆiÅlƒÅʟÅ×}¤›ÅŸÅÔ¯ÅӠŢ…ÅÅÅÆ¢ˆÅiÅl¢˜ÅÓ®ÅŬÅÓ holding shares in demat form will now reach ‘Password
¶ÅŒ¶ Å
›ÅŶŮŃ¥ ÅÆkÅlh¯Å˜Å
ŸÅӘ ÅÐ ›Å¢›Å¸ÎÄÀÅÔºÅÓ  Å¸ÅÄ f˜¸Ô dśŘÅŬÅÅÛºÅe˜ÅdÅÅ×¢ Creation’ menu wherein they are required to mandatorily
›ÅŶŮŃ¥˜Åh›ÅŶŮŃ¥›ÅlÅʬƒŸÅÔdÅÅƘŮÅŠť¤›Å¶ÅӛŨÅƮŵ}iÅl¢˜ÅŸÅÓºÅÅßiÅÒl›Å ÅÅ enter their login password in the new password field.
… ÅŘÅŒÔ ÅÆiÅle¶Å›ÅŶŮŃ¥ iÅlÅÓ ƒÅʟÅ×}¯ÅӠޅÅÅ¢iÅlÅÔ –Å¢ÅdŘ ÅiÅÄl›ÅÅƘŠÅÅÔ iÅÓl Kindly note that this password is to be also used by the
demat holders for voting for resolutions of any other
¶ÅÄiÅl¬›ÅÅÔiÅlÅÊ®ÅÅÓÅÆ}ĺÅiÅÓlÅƬÅhÅÆwŘÅiÅÓlÅƬÅh®ÅÓ®ÅÅÓ}iÅl¢˜ÅÓiÅÓlÅƬÅh›ÅŊŸخŸÅÄ
company on which they are eligible to vote, provided
žÅÅÊ e¶ˆÅӟÅŬÅÅÆiÅl ÅÅwÅÅhºÅŜůňÅÕ ÅÆiÅliÅÄl›Å˜ÅÅÊ e¥®ÅÅÓÅÆ}ĺÅiÅÓlÅƬÅh¶ÅÅʃÅÊh¶Åh¬Å that company opts for e-voting through CDSL platform.
iÅÓl›¬ÅÓ}›ÅlÅ۟ť iÅlÅÅÆ®ÅiÅl¬›ÅÀÅΘňÅÅÊ ¸×ߠŸÝwÅÅÓ¢ŒÓiÅl¢œÅˆÅÅ ÅÅwÅÅ¢¸Å¸× ÅÆiÅl It is strongly recommended not to share your password
dśŘÅÅ›ÅŶŮŃ¥ÅÆiÅl¶ÅÅÊdŘ ÅiÅÓl¶ÅŋŶÅńÅŘŸÅËiÅl¢ÔdÅÅ×¢dśŘÅÓ›ÅŶŮŃ¥iÅlÅÓ with any other person and take utmost care to keep your
ºÅÅӛŘÅÅʠŢnŘÅÓiÅÓlÅƬÅhdň ÅĈŶÅŮŅÅŘÅÅʜŢˆÅÔß password confidential.

[ žÅÅ×ÅƈÅiÅl ¤›Å ŸÅÔ ¯ÅӠŢ …ÅÅ¢‡Å iÅl¢˜ÅÓ ®ÅŬÅÓ ¶ÅŒ¶ ÅÅÔ iÅlÅ ÅƮŮއÅ Åƶśťl e¶Å (x) For Members holding shares in physical form, the details
can be used only for e-voting on the resolutions contained
˜ÅÅÓÅÆ}¶ÅŸÅÔ ŸÅÅ×wÅЌ¶ÅÄiÅl¬›Å›Å¢e¥®ÅÅÓÅÆ}ĺÅiÅÓlÅƬÅhf›Å ÅÅӺşÅÔ ¬ÅÅ ÅÅwÅŶÅiÅlˆÅÅ in this Notice.
¸×ß
(xi) Click on the EVSN of Indian Overseas Bank.
[L eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅliÅÓle¥®ÅÅÊh¶Åh˜Å›Å¢ÅÆiÅm¬ÅiÅliÅl¢Ôß (xii) On the voting page, you will see “RESOLUTION
[LL ®ÅÅÓÅÆ}ĺÅ›ÅÓwśŢdÅśÅiÅlÅÓ

ÅÆ¢wÅÅÛ¬ ÅЯŘÅÅƃÅƶkÅl›¯Å˜Å

ÅƌnÅÅe¥ ŒÓºÅÅdÅÅ×¢f¶ÅÅÊ DESCRIPTION” and against the same the option

ÅÆ®ÅiÅl¬›Å ŸÅÔ ®ÅÅÓÅÆ}ĺÅ iÅÓl ÅƬÅh

 Å¶Å ˜ÅÅÓ

 iÅlÅ ÅÆ®ÅiÅl¬›Å ÅƟŬÅÓºÅÅß dśŘÅÅÊ eÀ~Å “YES/NO” for voting. Select the option YES or NO as
desired. The option YES implies that you assent to the
dŘÅζÅÅ¢ Å¶Å ÅŘÅÅÓ ÅÆ®ÅiÅl¬›ÅiÅlÅÀŠŘÅiÅl¢ÔßÅÆ®ÅiÅl¬›Å Å¶ÅiÅlşňŬŜŸÅÓºÅÅ
Resolution and option NO implies that you dissent to
ÅÆiÅldÅśÅ¶ÅÄiÅl¬›ÅiÅÓl›ÅÂÅŸÅÔ¸ØdÅÅ×¢ÅÆ®ÅiÅl¬›Å˜ÅÅÓiÅlÅdŋť¸×ÅÆiÅldÅśÅ¶ÅÄiÅl¬›Å¶ÅÓ the Resolution.
¶Å¸ŸÅˆÅ˜Å¸Å˸×ß
(xiii) Click on the “RESOLUTIONS FILE LINK” if you wish to
[LLL  ÅÅƌdÅśÅiÅlÅÓ›ÅТŶÅÄiÅl¬›ÅÅƮŮއÅŒÓnŘÅŸ׈ÅÅÓ

ÅÆ¢wÅÅÛ¬ ÅЯŘÅ›ÅlÅe¬ÅÅƬÅÄiÅl

 view the entire Resolution details.

›Å¢ÅÆiÅm¬ÅiÅliÅl¢Ôß (xiv) After selecting the resolution you have decided to vote on,
[LY ®ÅÅÓ}iÅÓlÅƬÅh¶ÅÄiÅl¬›ÅiÅlÅÀŠŘÅiÅl¢˜ÅÓ iÅÓlœÅŌ

¶ÅœÅÅƟÅ}

›Å¢ÅÆiÅm¬ÅiÅliÅl¢Ôß click on “SUBMIT”. A confirmation box will be displayed.

If you wish to confirm your vote, click on “OK”, else to
hiÅl›ÅÎÅƵ}œÅÅÛiÅm¶ÅdÅśÅiÅÓl¶ÅşŘÅӛŨŒÅƯťˆÅ¸ÅÓºÅÅß ÅÅƌdÅśÅdśŘÅÓ®ÅÅÓ}iÅlÅÓ›Åε} change your vote, click on “CANCEL” and accordingly
iÅl¢˜ÅÅÀÅŸˆÅÓ ¸Ø ˆÅÅÓ

dÅÅÓiÅÓl

iÅlÅÓ ÅÆiÅm¬ÅiÅliÅl¢Ô dŘ Å‹ÅÅdśŘÅÅ®ÅÅÓ}œÅŒ¬Å˜ÅÓ iÅÓl modify your vote.

ÅƬÅh

iÅØlÅƶŬÅ

›Å¢ÅÆiÅm¬ÅiÅliÅl¢ÔdÅÅ×¢ˆÅŒ˜ÅζÅÅ¢dśŘÅÅ®ÅÅÓ}œÅŒ¬ÅÔß (xv) Once you “CONFIRM” your vote on the resolution, you
[Y ¶ÅÄiÅl¬›Å›Å¢hiÅlœÅÅ¢dśŘÅÓ®ÅÅÓ}iÅlÅÊ

›ÅÎÅƵ}

iÅl¢˜ÅÓiÅÓlœÅŌdÅśÅiÅlÅÓdśŘÅÓ®ÅÅÓ} will not be allowed to modify your vote.

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then Enter the User ID and the image verification code and
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f¶ÅÓ  ÅÐÝwÅ¢dÅÅeƒÅÊ dÅÅ×¢eŸÅÓwÅ®ÅÓÅÆ¢ÅƛÅliÅÓl¯Å˜ÅiÅlÅӃ›Å¨ÅƮŵ}iÅl¢˜ÅŸÅÓºÅÅdÅÅ×¢ by the system.
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mobiles. The m-Voting app can be downloaded from
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Google Play Store. Apple and Windows phone users can
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which they wish to vote on.
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® ÅÅn ÅňŸÅiÅlÅƮŮއÅdŘÅΞÅźÅŸÅÔ®ÅÅƇťˆÅ›Å¨ÅÆkÅl ÅÅiÅÓldŘÅζÅÅ¢wÅάÅÅe¥ July 2019 as per the procedure stated in the Explanatory
iÅlÅÓ¸ÅӘÅÓ®ÅŬÅÅÊœÅׁiÅlŸÅԟňŌŘÅiÅÓlŒÅעŘÅdśŘÅÅ®ÅÅÓ}ƒÅ¬Å¶ÅiÅlˆÅÓ¸Øß Statement section of this Notice.
‡ 7KH 5HVXOWV RI WKH HYRWLQJ VKDOO EH GHFODUHG RQ RU
‡ œÅØiÅl iÅlÅÊ dŶÅŅÅÅ¢‡Å ¶ÅşÅŘ Å œÅׁiÅl iÅÓl Åƌ˜Å  ÅÅ f¶ÅiÅÓl œÅŌ e¥®ÅÅÓÅÆ}ĺÅ iÅÓl after the AGM of the Bank. The Results declared along
›ÅÅÆ¢‡ÅşÅ¾ÅÅÓÅƵňÅÅÆiÅlhwÅÅhĺÅÓß¾ÅÅÓÅƵňÅ›ÅÅÆ¢‡ÅşÅiÅlÅÓ ¶ÅÄ®ÅÅÊÂÅiÅliÅlÅÊ ÅÆ¢›ÅÅÓ}¥ iÅÓl with Scrutinizer's Report shall be placed on the Bank's
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LQdÅÅ×¢¶ÅÅʃÅÊh¶Åh¬ÅiÅlÅÊ®ÅӜŶÅÅe} ÅÅÅƘÅKWWSVZZZHYRWLQJLQGLDFRP https://www.evotingindia.com within two days of the AGM
›Å¢ƒÅ¬ÅÅwÅŘÅÅÀÅÅÅƸhdÅÅ×¢h˜Åh¶Åe¥ œÅÅÊh¶Åe¥ iÅlÅÓ žÅÅÊ ¶ÅÐÅÆÀňÅÅÆiÅl ÅÅwÅŘÅÅ of the Bank and also communicated to NSE/BSE.
ÀÅÅÅƸhß

ÅƘŌӯÅiÅlŸÅă¬ÅiÅÓldÅŌӯŶÅÓ By order of the Board of Directors

ÀÅӚÅ× dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ Chennai (R Subramaniakumar)

 ›Å¨œÅ˜…ÅÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊ 27.05.2019 Managing Director & CEO

27
˜ÅÅÓÅÆ}¶ÅiÅlÅÊiÅlŠť¶ÅÐÀÅÅÊ Explanatory Statement
ŸÅŒ¶ÅÄiÅÓl® ÅÅn ÅňŸÅiÅlÅƮŮއÅ Agenda item No. 2
1. The Capital Adequacy Ratio of the Bank as on March 31,
 ŸÅÅÀÅ¥ iÅlÅÓ œÅӶŬÅ,,,iÅÓldŘÅζÅÅ¢œÅØiÅliÅlÅ›ÅÐÄwÅÅÊ ›Å ÅÅ¥›ˆÅˆÅÅdŘÅΛÅňÅ 2019, as per Basel III is 10.21% and above the 9.00%
 ¸× wÅÅÓ žÅÅ¢ˆÅÅÊ Å ÅÆ¢ÝwŮť œÅØiÅl –ŢŠÅƘŅÅÅ¥ÅÆ¢ˆÅ  ¶ÅÅʶÅÅʜÅÅÊ (excluding CCB) stipulated by the Reserve Bank of India.
¢ÅƸˆÅ¶ÅÓÝw ÅŌŸ×ßÅƛÅl¢žÅÅÊœÅØiÅliÅlÅÊiÅÎl~ÅƮŶˆÅÅ¢ ÅÅÓwŘÅÅdÅÅÔiÅÓliÅlÅ¢‡Å
œÅӶŬÅ,,,ŸÅŘŌăiÅÓliÅlÅ ÅÅ¥˜®Å Å˜Å®ÅˆÅˆ›Å¯ÀÅňÅ›ÅÐÄwÅÅÊ ›Å¨žÅÅ¢iÅÓliÅlÅ¢‡Å›ÅÐÄwÅÅÊ
›Å ÅÅ¥›ˆÅˆÅÅdŘÅΛÅňÅiÅlÅÓdÅÅ×¢¶ÅδކiÅl¢˜ÅÓ¸ÓˆÅΛÅÐÄwÅÅÊiÅlÅÓœÅކŘÅÓiÅlÅÊdÅŮů ÅiÅlˆÅÅ
¸×ß
2.
However, with a view to comply with Basel III requirements
relating to capital adequacy, there is an increasing need
to raise capital to shore up the capital adequacy of the
Bank and fund the general business needs of the Bank.
The Bank in terms of Section 3(2B)(c) of the Act will obtain
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›Å¢›ÅÅÄÀśŨÅƈůňŶÅÓ dÅÅƅÅiÅliÅlÅÊ ~Ð}iÅlÅÊ ›ÅÓ¯ÅiÅl¯Å˜Å¸ÅË iÅl¢¶ÅiÅlˆÅŸ×wÅÅÓ
requisite approval of the Government of India, Ministry of
Finance for increasing the paid up capital. However, the
Central Government shall, at all times, hold not less than
fifty-two per cent of the paid – up equity capital of the
Bank.
3. Regulation 41 of the LODR Regulations, 2015 provides
that whenever any further issue or offer is being made
by the Bank, the existing shareholders should be offered
the same on pro rata basis unless the shareholders in the
general meeting decide otherwise. The said resolution,
if passed, shall have the effect of allowing the Board on
behalf of the Bank to issue and allot the securities otherwise
than on pro-rata basis to the existing shareholders.
4. The Resolution seeks to enable the Bank to offer, issue
and allot equity shares/preference shares/ securities by
way of public issue, rights issue, preferential issue and/
or on a private placement basis. The issue proceeds
will enable the Bank to strengthen its Capital Adequacy
Requirements as specified by RBI from time to time.
5. The Resolution further seeks to empower the Board of
Directors to undertake a Qualified Institutions Placement
with Qualified Institutional Buyers as defined by ICDR
Regulations. The Board of Directors may in their discretion
adopt this mechanism as prescribed under Chapter VI
of the ICDR Regulations for raising funds for the Bank,
without seeking fresh approval from the shareholders.
In case of a QIP issue in terms of Chapter VI of ICDR
Regulations, issue of securities, on QIP basis, can be
made only at a price not less than the average of the
weekly high and low of the closing prices of the shares
quoted on a stock exchange during the two weeks
preceding the "Relevant Date". Provided that the issuer
may offer a discount of not more than five per cent on the
price so calculated, subject to approval of shareholders as
specified in clause (a) of regulation 172 of the regulations.
ÅÆ®ÅÅƘŠşÅÅÔiÅÓlÅÆ®ÅÅƘŠşŘÅiÅÓlnÅăiÅlŸÅÔÅƘÅÅƌ¥µ}¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÊŸÅÄwÅТÅÊ "Relevant Date" shall mean the date of the meeting in
iÅÓldŅÅÅʘŸ×ߛŨŶÅÄÅƺÅiÅlÅƈÅÅƋÅiÅlÅdŋťf¶ÅœÅׁiÅliÅlÅÊÅƈÅÅƋŶÅÓ¸ÅÓºÅÅÅÆwŶşÅÔ which the Board or Committee of the Bank decides to
œÅØiÅl ÅŶÅÅƟÅÅƈÅiÅlÅʶÅÅƟÅÅƈÅiÅm ÅÐdÅÅe›ÅÅÊe¯ ÅÐiÅlÅÓnÅÅӬŘÅÓiÅlÅÅƘŇť Å¬ÅӈÅÅʸ×ß open the QIP Issue.
 iÅlÅÓœÅØiÅliÅlÅʛŨŒ‰Å›ÅÐÜwÅÅÊiÅlÅžÅÅ¢ˆÅ¶Å¢iÅlÅ¢®Å 6. As on 31.03.2019, the GOI holds 92.52% and the public
›ÅÅƜ¬ÅiÅl…ÅÅ¢‡ÅiÅl¢ˆÅÅʸ×߶ÅÄiÅl¬›ÅiÅÓlŸÅŒ¶ÅÄn ÅÅiÅÓldŘÅζÅÅ¢hiÅl ÅÅdÅÅƅÅiÅl holds 7.48% of the paid up capital of the Bank. Bank is
proposing an enabling resolution before the shareholders
ÀÅ¢‡ÅÅÔ ŸÅÔ e¥ÅÆiÅm®Å}ÅÊ ¯ÅӠ޶ÅÒÅÆwňÅdÅÅۛÅl¢›Å¨¶ˆÅÅÅƮňÅÅƘźťŸÅdÅÅ×¢dÅŜÅÄÅÆ}ˆÅ to create, offer, issue and allot equity shares in one or more
iÅl¢˜ÅÓ iÅÓl ÅƬÅh œÅØiÅl ¯ÅӠޅÅÅ¢iÅlÅÔ iÅÓl ¶ÅŸÅÂÅ ¶ÅŸÅ‹Å¥ œÅ˜ÅŘÅÓ ®ÅŬÅÓ ¶ÅÄiÅl¬›Å iÅlÅ tranches as setout in the Item No.2 of the Resolution.
›Å¨¶ˆÅŮŢnÅ¢¸Å¸×ß 7. The detailed terms and conditions for the offer will be
 ›Å¨¶ˆÅÅ®ÅiÅÓlÅƮŶˆÅ҈ÅÅƘŜÅąŘŮůňÅ֮ňťŸÅŘÅœÅÅÝwÅÅ¢Åƶ‹ÅÅƈŠÅÅÔ®ÅdŘ ÅÅƘŠÅĊÅiÅl determined in consultation with the Advisors, Lead
dÅŮů ÅiÅlˆÅÅdÅÅÔ iÅlÅÓ … ÅŘÅŸÅÔ ¢nňÅÓ ¸Îh¶Å¬ÅŸiÅlÅ¢ÅÔdźŨ‡ÅÅÊ ›Å¨œÅ˜…ÅiÅlÅÔ dÅÅ×¢ Managers and Underwriters and such other authority or
authorities as may be required, considering the prevailing
¸ÅŸÅÅʌŢÅÔdÅÅ×¢hÓ¶ÅÓdŘ Å›Å¨ÅÅƅÅiÅlÅ¢ ÅśŨÅÅƅÅiÅlÅ¢ÅÔwÅ׶ÅÓdÅŮů ÅiÅl¸×iÅÓl¶ÅŋÅ market conditions and other regulatory requirements.
›Å¢ÅŸÅ¯Å¥iÅl¢iÅÓlÅƘŅÅÅ¥ÅÆ¢ˆÅÅÆiÅlhwÅÅhĺÅÓß
8. As the pricing of the offering cannot be decided except at
 ÀÅÐÄÅÆiÅl›Å¨¶ˆÅÅ®ÅiÅÓlŸÅЬ ÅÅÄiÅl˜ÅiÅlÅÅƘŇť ÅœÅŌiÅlÅʈÅÅ¢ÅÊnÅÅÔiÅÓldŬÅÅ®ÅŘŸÅËÅƬŠÅÅ a later stage, it is not possible to state the price of shares
wÅŶÅiÅlˆÅÅdňÅwÅÅ¢ÅÊ ÅÆiÅlhwÅŘÅÓ®ÅŬÅÓ ¯ÅӠŢÅÔ iÅlÅŸÅЬ ÅœÅˆÅŘÅÅ˜ÅşÅΟÅÅÆiÅl˜Å to be issued. However, the same would be in accordance
¸×ß ˆÅ‹ÅÅÅƛÅ  Å¸ dÅÅe¶ÅÅʃÅÊdÅÅ¢ ÅÆ®ÅÅƘŠşŘÅ dÅÅƅÅÅƘŠşÅ dÅÅ×¢ ÅÆ®ÅÅƘŠşŘÅÅÔ with the provisions of the ICDR Regulations, the Act and
the Regulations as amended from time to time or any other

28
 iÅÓl ›Å¨Å®Å…ÅŘÅÅÔ wÅÅÓ ¶ÅŸÅ Å ¶ÅŸÅ Å ›Å¢ ¶ÅįÅÅÓÅƅňÅ ¸Ø  ÅÅ dŘ Å Åƌ¯ÅÅÅƘŌկÅÅÔ guidelines / regulations / consents as may be applicable
ÅÆ®ÅÅƘŠşŘÅÅԶŸŸÅÅƈŠÅÅÔwÅÅÓ¬ÅźÅРÅÅdÅŮů ÅiÅl¸ÅÓiÅÓldŘÅζÅÅ¢¸ÅÓºÅÅß or required.
9. For reasons aforesaid, an enabling resolution is therefore
 f‰ÅliÅlÅ¢‡ÅÅÔiÅÓliÅlÅ¢‡ÅdÅÅ×¢hiÅl¶ÅÄiÅl¬›Å›ÅÅÅÆ¢ˆÅiÅl¢˜ÅÓiÅlśŨ¶ˆÅŮŸ×ÅÆwŶŶÅÓ proposed to be passed to give adequate flexibility and
ŸÅă¬ÅiÅlÅÓÅƘźťŸÅiÅÓlÅƘŜÅąŘÅÅƘŅÅÅ¥ÅÆ¢ˆÅiÅl¢˜ÅÓ¸ÓˆÅΛŠÅÅ¥›ˆÅdÅÅƅÅiÅlÅ¢Åƌ ÅÅwÅÅ discretion to the Board to finalise the terms of the issue.
¶ÅiÅÓlºÅÅß 10. The equity shares allotted, shall rank pari passu in all
 dÅÅĜÅÅÆ}ˆÅ eÅÆiÅm®Å}ÅÊ ¯ÅӠŢ ¶ÅžÅÅÊ ¶ÅȞÅÅÖ ŸÅÔ ¬ÅŞÅÅįÅ ¶ÅŸÅӈÅ œÅØiÅl iÅÓl ŸÅÅ×wÅЌÅ respects with the existing equity shares of the Bank
eÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅÓl¶ÅŸÅ¤›Å¸ÅÔºÅÓß including dividend.
In the light of the reason as stated above, the Bank is required
f›Å¢ÅӉÅliÅlÅ¢‡ÅÅÔ iÅÓlŸÅӘÅÝwÅ¢wÅ׶ÅÅÅÆiÅlf›Å¢ÅӉÅl®ÅÅƇťˆÅ¸× ÅÆiÅlœÅØiÅliÅlÅÓ ÅƮůÅӵŶÅÄiÅl¬›Å to obtain the consent of the shareholders by means of a Special
iÅÓlŸÅŅ ÅŸÅ¶ÅÓ¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅʶŸŸÅÅƈśŨśˆÅiÅl¢˜ÅÓiÅlÅÊdÅŮů ÅiÅlˆÅŸ×߈Ō˜ÅζÅÅ¢ Resolution. Accordingly, the consent of the shareholders
˜ÅÅÓÅÆ}¶Å iÅÓl ŸÅŒ ¶ÅÄn ÅÅ  ŸÅÔ ¢nÅÓ ºÅh ›Å¨¶ˆÅŮŠ¸ÓˆÅÎ ÅƮůÅӵŠ¶ÅÄiÅl¬›Å iÅÓl ŸÅŅ ÅŸÅ ¶ÅÓ through a Special Resolution is being sought for the proposal
¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅʶŸŸÅÅƈÅŸÅÅܺÅÅÊwÅÅ¢¸Åʸ×ß as contained in item no. 2 of the Notice.
ÅƘŌӯÅiÅlŸÅă¬Å˜ÅÅÓÅÆ}¶ÅŸÅÔ®ÅÅƇťˆÅ¶ÅÄiÅl¬›ÅÅÔiÅlÅÓ›ÅŶÅiÅl¢˜ÅÓiÅlÅʶÅĶˆÅÎÅƈŌӈÅÓ¸ØßœÅØiÅliÅÓl The Board of Directors recommends passing of the Resolution
as mentioned in the notice. None of the Directors of the Bank
ÅÆiÅl¶ÅÅÊ žÅÅÊ ÅƘŌӯÅiÅliÅlÅÊœÅØiÅlŸÅÔ f˜ÅiÅlÅÊ ¯ÅӠޅÅÅÅÆ¢ˆÅÅiÅlÅÊ ¶ÅÅʟÅÅiÅlÅÊ ¸ŒiÅÓldŬÅÅ®ÅÅ is interested or concerned in the aforementioned Resolution,
›ÅЮťiÅlÅƋňŶÅÄiÅl¬›Å›ÅÅÔŸÅÔiÅlÅÓe¥Åƌ¬ÅÀŶ›ÅÅʘŸÅ˸טŸÅÊ®ÅÓÅÆÀÅÄÅƈňŸØß except to the extent of their shareholding in the Bank.
hwÅԃÅŸÅŒ Agenda No. 3
ŒÅʾť dÅ®ÅÅƅÅ iÅÓl ¶ÅĶÅŅŘÅÅÔ –ŢŠiÅlÅ¢ÅӜÅÅ¢ iÅÓl ÅƮŶˆÅÅ¢ ¸ÓˆÅÎ ÅƘÅÅƅŠÅÅÔ iÅlÅÊ œÅކˆÅÅÊ In order to meet the growing requirement of funds for expanding
dÅŮů ÅiÅlˆÅÅiÅlÅÓ ›Å¨Å›ˆÅiÅl¢˜ÅÓ iÅÓlÅƬÅhœÅÅӃ¥ –Å¢ÅÅƘŇť ÅÅƬŠÅźŠÅŶÅŋŸÅÊ ›ÅÐÜwÅÅÊ the business by way of long term resources as may be decided
by the Board, as also to comply with BASEL III requirements
›Å ÅÅ¥›ˆÅˆÅŶÅÓ ¶ÅĜÅÄÅƅňÅœÅӶŬÅ,,,iÅlÅÊ dśÅÓÂÅÅdÅÅÔ iÅlÅdŘÅΛÅŬŘÅiÅl¢˜ÅÓ iÅÓlÅƬÅh®Å›ÅÐÜwÅÅÊ relating to capital adequacy, the Bank proposes to issue shares
wÅÎ}ŘÅÓiÅlÅÊ ÅÅÓwŘÅÅiÅÓldŘÅζÅÅ¢œÅØiÅldśŘÅÓiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓ

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å under “IOB-ESPS 2019-20” to its employees. The said proposal



iÅÓldÅĈźťˆÅ¯ÅӠŢwÅÅ¢ÅÊiÅl¢˜ÅÓiÅÓlÅƬÅh›Å¨¶ˆÅÅÅƮňÅiÅl¢ˆÅŸ×ßf‰Ål›Å¨¶ˆÅŮŠis subject to approvals from GOI/RBI/Stock Exchanges and

 ÅÅƌdÅŮů ÅiÅl¸ÅÓˆÅÅÓžÅÅ¢ˆÅ¶Å¢iÅlÅ¢žÅÅÅÆ¢œÅض}ÅÛiÅlÅÆ®ÅÅƘşŠÅÅÔ®ÅdŘ ÅÅƘŠÅşÅiÅl other regulatory bodies, if required.
ÅƘÅiÅlÅ ÅÅÔ¶ÅÓdŘÅΟÅÅӌ˜ÅÅÔiÅÓldŅÅÅʘŸÅӈÅŸ×ß Now, the Bank proposes to grant equity shares to all permanent
employees of the Bank including Managing Director & Chief
dŜÅœÅØiÅl˜ÅÓf˜Å¯ÅˆÅÅÖ®ÅÅƘŜÅąŘśŢwÅ׶ÅÅÅÆiÅl

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

 Executive Officer, Executive Directors of the Bank (“Eligible

iÅÓlˆÅ¸ˆÅ®ÅÅƇťˆÅ¸Ø dŋŮÅÅœÅÅӃ¥ –Å¢ÅÅƬÅhºÅhÅƘŇť ÅdŘÅζÅÅ¢ ÅÅ

eÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ Employees”) on such terms and conditions as stated under

iÅlÅÓ wÅÅ¢ÅÊ iÅl¢˜ÅÓ iÅÓlÅƬÅhÅƘŌӯÅiÅlÅÔ iÅlÅÊ ¶ÅÅƟÅÅƈÅ

¶ÅÅƟÅÅƈÅiÅÓldŘÅζÅÅ¢œÅØiÅliÅÓl›Å¨œÅąÅ “IOB-ESPS 2019-20” or as may be decided by the Board or

ÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅlÅÔ ¶ÅÅƸˆÅ¶ÅžÅÅÊ ¶‹ÅÅe¥ Committee of Directors for Issue of Equity Shares (Committee)
iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ 

›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ

iÅlÅÓ eÅÆiÅm®Å}ÅÊ ¯ÅӠŢ›Å¨ŒÅ˜ÅiÅl¢˜ÅÓ iÅlśŨ¶ˆÅŮŢnÅÅ subject to the applicable Laws, Rules, Regulations and
Guidelines, inter-alia, with the following objectives:
¸× wÅÅÓ ÅÆiÅlÅƘş˜ÅÅƬÅÅÆnňÅfŒÃŒÓ¯ ÅÅÔ iÅÓl¶ÅŋŶÅŋÅ¬ÅźÅÐ ÅÆ®ÅÅƅÅÅƘŠşÅÅÔÅÆ®ÅÅƘŠşÅÅÔ ®Å
i) Providing incentive to eligible employees, to stimulate their
Åƌ¯ÅÅÅƘŌկÅÅÔiÅÓldŅÅÅʘŸÅÓºÅÅÊß efforts towards better performance to contributing to the growth
LœÅØiÅliÅlÅÊ®ÅÒÅƐ®Å¬ÅŞśŨŒˆÅÅŸÅԶŸ ÅÅӺŌӘÅÓiÅÓlÅƬÅh›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅӛŨÅӈ¶ÅŸ˜Å and profitability of the Bank;
ŒÓ˜ÅÅœÅÓ¸ˆÅ¢ÅƘŵ›ÅŌ˜ÅiÅÓlÅƬÅhf˜ÅiÅÓl›Å¨ Åˆ˜ÅÅÔiÅlÅÓœÅކŮÅŌӘÅÅ ii) Rewarding eligible employees for their continued support
LLœÅØiÅliÅlÅÊ®ÅÒÅƐiÅÓlÅƬÅh›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓf˜ÅiÅÓl¬ÅºÅňÅÅ¢¶ÅŸÅ‹Å¥˜Å®Å¶Å¸ ÅÅӺŸӈÅÎ and contribution towards the Bank’s growth;
›Å΢¶iÅlÅ¢ŒÓ˜ÅÅ iii) Encouraging equity ownership by eligible employees by
providing them with the means to acquire a proprietary interest
LLLœÅØiÅlŸÅÔ ¶®ÅÅÅƟň®ÅÅƸˆÅiÅlÅÓ ›Å¨Å›ˆÅiÅl¢˜ÅÓ iÅÓlÅƬÅh›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ –Å¢ÅeÅÆiÅm®Å}ÅÊ in the Bank.
¶®ÅÅÅƟň®ÅiÅlÅÓœÅކŮÅŌӘÅÅß The equity shares issued as above shall rank pari passu in all
dÅÅĜÅÅÆ}ˆÅeÅÆiÅm®Å}ÅʯÅӠŢ¶ÅžÅÅʶÅȞÅÅÖŸÅÔ¬ÅŞÅÅįŶşÅӈÅœÅØiÅliÅÓlŸÅÅ×wÅЌÅeÅÆiÅm®Å}ÅʯÅӠŢÅÔ respects with the existing equity shares of the Bank.
iÅÓl¶ÅŸÅ¤›Å¸ÅÔºÅÓß Regulation 41 of the LODR Regulations provides that whenever
any further issue or offer is being made by the Bank, the
h¬ÅdÅÅӃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşÅÅÔiÅlÅÅÆ®ÅÅƘŠşÅœÅˆÅňÅŸ×ÅÆiÅlwŜÅiÅlžÅÅÊžÅÅÊœÅØiÅl–Å¢ÅiÅlÅÓe¥ existing shareholders should be offered the same on pro rata
dÅÅƈÅÅÆ¢‰Åle¯ ÅРÅÅdÅÅۛÅl¢ÅÆiÅl ÅÅwÅÅ¢¸Å¸×ˆÅÅӮňťŸÅŘůÅӠޅÅÅ¢iÅlÅÔiÅlÅӶşÅŘÅΛÅÅÅƈÅiÅl basis unless the shareholders in the general meeting decide
dÅŅÅÅ¢›Å¢®Å¸ÅʛŨŒÅ˜ÅÅÆiÅl ÅÅwÅŘÅÅÀÅÅÅƸhwŜňÅiÅlÅÆiÅl¶ÅşÅŘ ÅœÅׁiÅlŸÅÔ¯ÅӠޅÅÅ¢iÅl otherwise. The said resolution, if passed, shall have the effect
ÅƘŇť ÅdŘ Å‹ÅŘŸÅˬÅÓ¬ÅӈÅÓßf‰Ål¶ÅÄiÅl¬›Å ÅÅƌ›ÅŶŸÅÓwÅňÅŸ׈ÅÅӮŸœÅØiÅliÅlÅÊdÅÅÓ¢ of allowing the Board on behalf of the Bank to issue and allot
¶ÅÓ œÅÅӃ¥ iÅlÅÓ ®ÅˆÅ¥ŸÅŘůÅӠޅÅÅ¢iÅlÅÔ iÅlÅÓ ¶ÅŸÅŘÅΛÅÅÅƈÅiÅldÅŅÅÅ¢›Å¢›Å¨ÅƈŞÅÐÅƈŠÅÅÜ ›Å¨ŒÅ˜Å the securities otherwise than on pro-rata basis to the existing
shareholders.
iÅl¢˜ÅÓiÅÓlœÅwÅÅh›Å¨ÅƈŞÅÐÅƈŠÅÅÜwÅÅ¢ÅÊ®ÅdÅŜÅÄÅÆ}ˆÅiÅl¢˜ÅÓiÅÓlÅƬÅhdŘÅΟÅÅƈŌӺÅÅß
Further as per Regulations 6 & 14 of SEBI (Share Based
e¶ÅiÅÓl dÅÅƈÅÅÆ¢‰Ål ¶ÅӜÅÅÊ ¯ÅӠŢ dÅŅÅÅÅÆ¢ˆÅ iÅlŸÅ¥ÀÅÅ¢ÅÊ ¬ÅŞÅ ÅÆ®ÅÅƘŠşÅ  ¶ÅӜÅÅÊ Employee Benefits) Regulations, 2014 (SEBI Regulations) all
ÅÆ®ÅÅƘŠşÅiÅÓlÅÆ®ÅÅƘŠşÅ®ÅiÅÓldŘÅζÅÅ¢œÅØiÅliÅlÅʛŨÅƈŞÅÐÅƈŠÅÅÔiÅlÅÓ¯ÅÅÅƟŬÅiÅl¢ˆÅÓ¸Îh employees’ benefit schemes involving the securities of the Bank
¶ÅžÅÅÊiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÊ¬ÅŞÅ ÅÅÓwŘÅŶÅӜÅÅÊÅÆ®ÅÅƘŠşÅÅÔ®Åe¶Å¶ÅĜÅąÅŸÅÔ¶ÅӜÅÅʖŢňÅ× ÅÅ¢ shall be in compliance with SEBI Regulations and any other
guidelines, regulations etc., framed by SEBI in this regard.
ÅÆiÅlhºÅhdŘ ÅÅƌ¯ÅÅÅƘŌկÅÅÔÅÆ®ÅÅƘŠşÅÅÔdÅÅÅƌiÅÓldŘÅΛÅŬŘÅŸÅÔ¸ÅÔºÅÅÊß
As per the requirements enumerated by SEBI through Circular
¶ÅӜÅÅÊ –ŢŠ›ÅÅÆ¢›ÅŠÅ ¶ÅÄ ¶ÅÅÊdÅÅedÅÅ¢¶ÅÅÊh›ÅlƒÅÊ›ÅÅÛÅƬŶÅÅÊ ¶ÅӬŠÅƌ˜ÅÅÄÅÆiÅlˆÅ  No. CIR/CFD/POLICY CELL/2/2015 dated 16th June, 2015 the
wÅИÅŸÅÔ®ÅÅƇťˆÅŘÅζÅÅ¢ÅƘş˜ÅÅƬÅÅÆnňÅ

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓl following would inter-alia be the broad terms and conditions of

® ÅśÅiÅlÅƘŜÅąŘŮůňÅÅÖiÅÓl¶ÅŋŸÅÓºÅÅ the “IOB-ESPS 2019-20”

29
  ÅÅÓwŘÅÅiÅlŶÅÄÅÆÂśˆÅÅƮŮއÅ 1. BRIEF DESCRIPTION OF THE SCHEME:
œÅØiÅlf˜ÅÅƘŜÅąŘŮůňÅÅ֛ŢwÅ׶ÅÅÅÆiÅl

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓlˆÅ¸ˆÅ The Bank desirous to grant equity shares to all permanent

employees of the Bank including Managing Director & Chief
®ÅÅƇťˆÅ¸Ø dŋŮÅÅœÅÅӃ¥ –Å¢ÅÅƬÅhºÅhÅƘŇť ÅdŘÅζÅÅ¢ ÅÅ

eÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅlÅÓ wÅÅ¢ÅÊ Executive Officer, Executive Directors of the Bank (“Eligible
iÅl¢˜ÅÓiÅÓlÅƬÅhÅƘŌӯÅiÅlÅÔiÅlÅʶÅÅƟÅÅƈÅ

¶ÅÅƟÅÅƈÅiÅÓldŘÅζÅÅ¢œÅØiÅliÅÓl›Å¨œÅąÅÅƘŌӯÅiÅl®Å Employees”) on such terms and conditions as stated under “IOB-
ŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅlÅÔ¶ÅÅƸˆÅ¶ÅžÅÅʶ‹ÅÅe¥iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ ESPS 2019-20” or as may be decided by the Board or Committee
of Directors for Issue of Equity Shares (Committee) subject to the


›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ

iÅlÅÓeÅÆiÅm®Å}ÅʯÅӠŢ›Å¨ŒÅ˜ÅiÅl¢˜ÅÓiÅlÅÊeÀ~Å¢nňÅŸ×e¶ÅiÅÓl¶ÅŋÅ applicable Laws, Rules, Regulations and Guidelines, inter-alia,

dÅÅۛÅl¢iÅÓl¶ÅŸÅ Åf›Å ÅΉÅl›Å¨ÅÊÅƟŠşÅiÅÓl¶ÅŋÅ£iÅÓldÅÄÅÆiÅlˆÅŸÅЬ Å›Å¢iÅl¢ÅÓރ not exceeding 45.70 crore equity shares at a face value of Rs 10
iÅÓleÅÆiÅm®Å}ÅʯÅӠŢÅÔ¶ÅÓdÅÅƅÅiÅl˜Å¸Å˸ÅӘÅÅÀÅÅÅƸhß each with appropriate premium, at the time of offer.
2. TOTAL NUMBER OF SHARES TO BE GRANTED
 ›Å¨ŒÅ˜ÅÅÆiÅlhwÅŘÅÓ®ÅŬÅÓ¯ÅӠŢÅÔiÅlÅÊiÅÎl¬Å¶ÅÄn ÅÅ
Up to 45,70,00,000 equity shares are proposed to be offered
 eÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅlÅÓ dÅÅedÅÅӜÅÅÊ  e¥h¶Å›ÅÅÊh¶Å  iÅÓl dÅĈźťˆÅ to the eligible employees under the “IOB-ESPS 2019-20”.
›ÅŊÅ iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ iÅlÅÓ ›Å¨ŒÅ˜Å iÅl¢˜ÅÓ iÅÓl ÅƬÅh ›Å¨¶ˆÅÅÅƮňÅ ÅÆiÅl ÅÅ ºÅ ÅÅ ¸×ß ¸Å¬ÅÅÄÅÆiÅl However, the portion of shares offered, pursuant to the
dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶ÅiÅÓldŘÅζÅÅ¢ÅÆiÅl¶ÅÅÊ›ÅŊÅiÅlŸÅ¥ÀÅÅ¢ÅÊiÅlÅӛŨŒÅ˜ÅÅÆiÅlh “IOB-ESPS 2019-20”, to any eligible employees, if remains
unsubscribed, shall be made available to interested eligible
ºÅh¯ÅӠŢ ÅÅƌ®ÅÓ ºÅ×¢¶Åœ¶ÅkÅlÅeœÅ¢¸ˆÅÓ ¸Ø ˆÅÅÓ ®ÅÓ eÀ~ÎiÅl›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ iÅlÅÓ f¶ÅÅÊ employees at such price, as may be decided by the Board or
iÅlÅʟňśŢf›Å¬Åœ…ÅiÅl¢ÅhwÅÅhĺÅÓwÅ׶ÅÅÅÆiÅlœÅÅӃ¥ ÅŶÅÅƟÅÅƈÅ–Å¢ÅÅƘŇť ÅÅƬŠÅÅwÅÅhß Committee.
 dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶ÅŸÅÔžÅźÅ¬ÅӘÅÓ®Å¬ÅŞÅŋÅÅ̜ŘŘÅÓiÅÓl¸ÝiÅlŒÅ¢ 3. IDENTIFICATION OF CLASSES OF EMPLOYEES
ENTITLED TO PARTICIPATE AND BE BENEFICIARIES
iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅÓl®ÅºÅ¥iÅlÅʛŸÀÅŘŠIN THE “IOB-ESPS 2019-20”
œÅØiÅliÅÓl›Å¨œÅąÅÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl¶ÅŸÅӈÅ All permanent employees of the Bank including Managing
œÅØiÅliÅÓl¶ÅžÅÅʶ‹ÅÅe¥iÅlŸÅ¥ÀÅÅ¢ÅÊ Director & Chief Executive Officer, Executive Directors of the
Bank
 ®ÅÓÅƶ}ĺÅiÅlÅÊdÅŮů ÅiÅlˆÅŮŮÅÓÅƶ}ĺÅiÅlÅÊdÅ®ÅÅƅŠ4. REQUIREMENTS OF VESTING AND PERIOD OF
¬ÅźÅИŸÅË VESTING
 dÅÅƅÅiÅlˆÅŸÅdÅ®ÅÅƅÅÅÆ®ÅÅƘŠşÅÅÔiÅÓlÅÆ®ÅÅƘŠşÅ®ÅwÅ׶ÅÅžÅÅÊŸÅşŬÅÅ Not Applicable.
¸ÅÓ iÅÓl dŅÅÅʘÅ ÅÆwŶÅiÅÓl žÅÅʈŢ ÅÆ®ÅiÅl¬›Åh¶ÅhdÅÅ¢h¶Å ¬ÅŞÅ ›Å¨ŒÅ˜Å ÅÆiÅl ÅÅ 5. MAXIMUM PERIOD (SUBJECT TO REGULATION 18(1)
AND 24(1) OF THE SEBI REGULATIONS, AS THE
wÅÅhºÅÅ CASE MAY BE) WITHIN WHICH THE OPTIONS / SARs
¬ÅźÅИŸÅË / BENEFIT SHALL BE VESTED
Not Applicable
 ÅÆ®ÅiÅl¬›Å›Å¨ ÅÅӺşÅЬ Åh¶ÅhdÅÅ¢ŸÅЬ ÅkÅl ÅŸÅЬ Å ÅÅŸÅЬ ÅÅƘŅÅÅ¥¢‡Å›ÅlÅ۟ÅÐ¥¬ÅÅ
6. EXERCISE PRICE, SAR PRICE, PURCHASE PRICE OR
eÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅÓlÅƘźťŸÅ˜Å¸ÓˆÅÎ kÅl ÅŸÅЬ Å ÅÅŸÅЬ ÅÅƘŅÅÅ¥¢‡Å›ÅlÅ۟ÅÎ¥¬ÅÅiÅlÅÅƘŅÅÅ¥¢‡Å PRICING FORMULA
dÅÅۛÅl¢iÅÓl¶ÅŸÅ Å¶ÅӜÅÅÊ h¶ÅœÅÅÊe¥œÅÅÊÅÆ®ÅÅƘŠşÅiÅÓldŘÅζÅÅ¢ÅƘŌӯÅiÅlÅÔ iÅlÅÊ ¶ÅÅƟÅÅƈÅ Purchase price or pricing formula will be determined by the
–Å¢ÅÅÆiÅl ÅÅwÅÅhºÅÅß Committee of Directors for Issue of Equity Shares as per SEBI
Regulations at the time of offer.
 ÅÆ®ÅiÅl¬›Å›Å¨ ÅÅÓºÅdÅ®ÅÅƅňŋÅÅÅÆ®ÅiÅl¬›Å›Å¨ ÅÅÓºÅiÅlÅʛŨÅÆkÅl ÅÅ 7. EXERCISE PERIOD AND PROCESS OF EXERCISE
ÅƘźťŸÅ˜ÅdÅÅۛÅl¢iÅlÅʈÅÅ¢ÅÊnŶÅÓhiÅlŸÅŸ One month from the date of issue / offer.
 dÅÅedÅÅӜÅÅÊ  e¥h¶Å›ÅÅÊh¶Å   iÅÓl ÅƬÅh iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ iÅlÅÊ ›ÅŊňÅÅ iÅÓl 8. THE APPRAISAL PROCESS FOR DETERMINING THE
ÅƘŅÅÅ¥¢‡Å¸ÓˆÅΟÅЬ ÅÅÄiÅl˜Å›Å¨ÅÆkÅl ÅÅ ELIGIBILITY OF EMPLOYEES FOR THE “IOB-ESPS
2019-20”
¯ÅӠŢÅÔ iÅlÅÊ dÅÅۛÅlÅƢĺÅ  ÅƘźťŸÅ˜Å iÅlÅÊ ˆÅÅ¢ÅÊnÅ ˆÅiÅl œÅØiÅl iÅÓl ›Å¨œÅąÅ ÅƘŌӯÅiÅl ®Å ŸÅÎn Å All permanent employees including Managing Director & Chief
iÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl¶ÅŸÅӈÅœÅØiÅliÅÓl¶ÅžÅÅÊ ¶‹ÅÅe¥ iÅlŸÅ¥ÀÅÅ¢ÅÊ Executive Officer, Executive Directors of the Bank as on the date
¬ÅźÅÐÅÆ®ÅÅƘŠÅşÅiÅldśÅÓÂÅÅdÅÅÔ®ÅÅƌ¯ÅÅÅƘŌӯÅÅÖiÅÓldŅÅÅʘÅžÅźÅ¬ÅӘÅÓiÅÓl¸ÝiÅlŒÅ¢¸ÅÔºÅÓß of offering/ issue of shares will be entitled to participate subject
to the applicable regulatory requirements and guidelines.
 ›Å¨ÅƈÅ iÅlŸÅ¥ÀÅÅ¢ÅÊ ®Å ¶ÅŸÅºÅ¨ˆÅÅ ŸÅÔ ÝwÅÅ¢ÅÊ ÅÆ®ÅiÅl¬›Å h¶ÅhdÅÅ¢ ¯ÅӠŢ wÅ׶ÅÅ žÅÅÊ 9. MAXIMUM NUMBER OF OPTIONS, SARs, SHARES, AS
ŸÅşŬÅŸÅÓiÅlÅÊdÅÅƅÅiÅlˆÅŸÅ¶ÅÄn ÅÅ THE CASE MAY BE, TO BE ISSUED PER EMPLOYEE
AND IN AGGREGATE
œÅØiÅl ¶ÅŸÅºÅ¨ˆÅÅ ŸÅÔ dÅÅƅÅiÅlˆÅŸÅ  eÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅlÅÓ ÝwÅÅ¢ÅÊ iÅl¢˜ÅÓ iÅlÅ
The Bank proposes to issue maximum of 45,70,00,000 equity
›Å¨¶ˆÅŮŢnňÅÅ¸× dÅÅ×¢›Å¨ÅƈÅiÅlŸÅ¥ÀÅÅ¢ÅÊ ÝwÅÅ¢ÅÊ ÅÆiÅlhwÅŘÅÓ ®ÅŬÅÓ ¯ÅӠŢÝwÅÅ¢ÅÊ ›ÅÐÜwÅÅÊ iÅÓl shares in aggregate and shares proposed to be issued per
›Å¨ÅƈůňŶÅÓdÅÅƅÅiÅl˜Å¸Å˸ÅӘÅÓÀÅÅÅƸhß employee shall not exceed 1% of the issued capital.
  ÅÅÓwŘÅÅ iÅÓl ˆÅ¸ˆÅ ›Å¨ÅƈÅ iÅlŸÅ¥ÀÅÅ¢ÅÊ iÅlÅÓ ›Å¨ŒÅ˜Å ÅÆiÅlh wÅŘÅÓ ®ÅŬÅÓ ¬ÅŞÅ iÅlÅÊ 10. MAXIMUM QUANTUM OF BENEFITS TO BE PROVIDED
dÅÅƅÅiÅlˆÅŸÅ›Å¨ŸÅŊÅÅ PER EMPLOYEE UNDER THE SCHEME
As the new shares are proposed to be issued under
ÀÅÐÜÅÆiÅl ˜Åh ¯ÅӠŢÅÔ iÅlÅ

dÅÅedÅÅӜÅÅÊ  e¥h¶Å›ÅÅÊh¶Å  

 iÅÓl ˆÅ¸ˆÅ ÅƘźťŸÅ˜Å “IOB-ESPS 2019-20”, no other benefits will be provided to

›Å¨¶ˆÅÅÅƮňŸכÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓiÅlÅÓe¥dŘ Å¬ÅŞÅ˜Å¸Å˛ŨŒÅ˜ÅÅÆiÅl ÅÅwÅÅhºÅÅß eligible employees.
 iÅm ÅÅ  ÅÅÓwŘÅÅdÅÅÔ iÅlÅÓ ¶ÅÅʅÅÓ iÅÄl›Å˜ÅÅÊ –ŢŠiÅlÅ ÅÅ¥ÅƘ®ÅˆÅ ˆÅ‹ÅÅ hƒÅƟÅÅƘŶ}¢ 11. WHETHER THE SCHEME(S) IS TO BE IMPLEMENTED
AND ADMINISTERED DIRECTLY BY THE COMPANY
ÅÆiÅl ÅÅwÅŘÅŸנÅŘ ÅŶÅiÅÓlÝwÅÅÆ¢h OR THROUGH A TRUST

30


dÅÅe¥dÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å 

 ¶ÅÅʅÅÓ œÅØiÅl –ŢŠiÅlÅ ÅÅ¥ÅƘ®ÅˆÅ ˆÅ‹ÅÅ hƒÅƟÅÅƘŶ}¢ “IOB-ESPS 2019-20” will be implemented and administered
ÅÆiÅl ÅÅwÅÅhºÅÅß directly by the Bank.
12. WHETHER THE SCHEME(S) INVOLVES NEW ISSUE
 iÅm ÅÅ  ÅÅÓwŘÅÅdÅÅÔ ŸÅÔ iÅÄl›Å˜ÅÅÊ –ŢŠ˜Åh ¯ÅӠŢÅÔ iÅlÅ ÅƘźťŸÅ˜Å ˜ ÅŶÅ –ŢŠOF SHARES BY THE COMPANY OR SECONDARY
ÅƖˆÅÅÊ ÅiÅldÅÅƅźŨ¸‡Å ÅÅŒÅӘÅÅÔ¯ÅÅÅƟŬÅ¸× ACQUISITION BY THE TRUST OR BOTH
Under the “IOB-ESPS 2019-20”, the Bank will issue new equity

dÅÅedÅÅӜÅÅÊ e¥h¶Å›ÅÅÊh¶Å

iÅÓlˆÅ¸ˆÅœÅØiÅl˜ÅheÅÆiÅm®Å}ÅÊ ¯ÅӠŢÅÔ iÅlÅÓ ¶ÅÅʅÅÓ shares directly to the eligible employees.

›ÅŊÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓÝwÅÅ¢ÅÊiÅl¢ÓºÅÅß 13. THE AMOUNT OF LOAN TO BE PROVIDED FOR
 iÅÄl›Å˜ÅÅÊ –ŢŘ ÅŶÅiÅlÅÓ  ÅÅÓwŘÅÅdÅÅÔiÅÓliÅlÅ ÅÅ¥˜®Å Å˜Å¸ÓˆÅÎ ›Å¨ŒÅ˜ÅiÅlÅÊ wÅŘÅÓ IMPLEMENTATION OF THE SCHEME(S) BY THE
COMPANY TO THE TRUST, ITS TENURE, UTILIZATION,
®ÅŬÅÅÊŠÅ«‡ÅiÅlÅÊ¢ÅÅƯÅf¶ÅiÅlÅÊdÅ®ÅÅƅÅf›Å ÅÅÓºÅÀÅÎiÅlˆÅŘÅÅƘŜÅąŘÅdÅÅÅƌ REPAYMENT TERMS, ETC.;
ÀÅÐÜÅÆiÅlœÅØiÅl–Å¢Å

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓlˆÅ¸ˆÅ¯ÅӠŢÅÔiÅlÅÓ¶ÅÅʅÅÓ›ÅŊÅ As the shares are directly issued to the eligible employees

iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓwÅÅ¢ÅÊÅÆiÅl ÅÅwÅňÅŸט ÅŶÅiÅÓlºÅ˜Å ÅŘ ÅŶÅiÅlÅÓŠÅ«‡Å›Å¨ŒÅ˜ÅÅÆiÅlh under the “IOB-ESPS 2019-20” by the Bank, formation of the
trust or providing loan to the trust does not arise.
wÅŘÅÓiÅlśŨ¯˜Å˜Å¸ÅËfˆÅÅß
14. MAXIMUM PERCENTAGE OF SECONDARY
 ¶ÅÓiÅÄlƒ¢ÅÊ dÅÅƅźŨ¸‡ÅiÅlÅÊ ›Å¨ÅƈůňňÅÅÅÆ®ÅÅƘŠşÅÅÔ iÅÓlˆÅ¸ˆÅÅƘÅÅƌ¥µ}¶ÅÅʟÅÅiÅÓl ACQUISITION (SUBJECT TO LIMITS SPECIFIED
dŅÅÅʘÅÅÆwŶÅÓ ÅÅÓwŘÅÅdÅÅÔiÅÓlÅƬÅh˜ ÅŶÅ–Å¢ÅÅÆiÅl ÅÅwÅŶÅiÅlˆÅÅ¸× UNDER THE SEBI REGULATIONS) THAT CAN BE
MADE BY THE TRUST FOR THE PURPOSES OF THE
ÀÅÐÜÅÆiÅlœÅØiÅl–Å¢Å

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓlˆÅ¸ˆÅ¯ÅӠŢÅÓiÅlÅÓ¶ÅÅʅÅÓ›ÅŊÅ SCHEME(S)
iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓÝwÅÅ¢ÅÊÅÆiÅl ÅÅwÅňÅŸט ÅŶÅiÅÓlºÅ˜ ÅŶŖŢŶÅÓiÅÄlƒ¢ÅÊdÅÅƅźŨ¸‡ÅiÅlÅ As the shares are directly issued to the eligible employees under
›Å¨¯˜Å˜Å¸ÅËfˆÅÅß the “IOB-ESPS 2019-20” by the Bank, secondary acquisition
by the trust does not arise.
 iÅÄl›Å˜ÅÅÊÅÆ®ÅÅƘŠşÅŸÅÔÅƘÅÅƌ¥µ}¬ÅÓnÅÅÄiÅl˜Å˜ÅÅÊÅƈŠÅÅÔiÅÓldŘÅΤ›Å¸ÅÓºÅÅÊe¶Ådŋť 15. A STATEMENT TO THE EFFECT THAT THE COMPANY
iÅlÅÊÅƮŮއÅÅÊ SHALL CONFORM TO THE ACCOUNTING POLICIES
SPECIFIED IN REGULATION 15
œÅØiÅlÅÆ®ÅÅƘŠşÅŸÅÔÅƘÅÅƌ¥µ}¬ÅÓnÅÅÄiÅl˜Å˜ÅÅÊÅƈŠÅÅÔiÅÓldŘÅΤ›Å¸ÅÓºÅÅÊß
Bank will conform to the accounting policies specified in
 ›Å¨ÅÆkÅl ÅÅÅÆwŶÅÓ iÅÄl›Å˜ÅÅÊ dśŘÅÓ ÅÆ®ÅiÅl¬›ÅÅÔ  ÅÅh¶ÅhdÅÅ¢iÅÓlŸÅЬ ÅÅƘŅÅÅ¥¢‡ÅiÅÓl Regulation 15
ÅƬÅh›Å¨ ÅÅÓºÅiÅl¢ÓºÅÅÊß 16. THE METHOD WHICH THE COMPANY SHALL USE TO
VALUE ITS OPTIONS OR SARs
ÀÅÐÜÅÆiÅl

dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å

iÅÓlˆÅ¸ˆÅÅƶśťl¯ÅӠŢÝwÅÅ¢ÅÊÅÆiÅlhwÅňÅÓ¸Ø As only the shares are issued under the “IOB-ESPS 2019-20”,
h¶ÅhdÅÅ¢iÅÓlŸÅЬ ÅÅƘŅÅÅ¥¢‡ÅiÅlśŨ¯˜Å˜Å¸ÅËfˆÅÅß the valuation of options or SARs does not arise.
 ÅƘş˜ÅÅƬÅÅÆnňÅÅƮŮއÅÅÊ ÅÅƌ¬ÅźÅиÅÓ 17. THE FOLLOWING STATEMENT, IF APPLICABLE:
'In case the company opts for expensing of share based
 ÅÅƌiÅÄl›Å˜ÅÅÊ  Å‹Åŋť ŸÅЬ ÅiÅÓldÅŅÅÅ¢›Å¢¯ÅӠŢdÅŅÅÅÅÆ¢ˆÅiÅlŸÅ¥ÀÅÅ¢ÅÊ ¬ÅŞÅiÅÓlÅÆ®ÅiÅl¬›Å employee benefits using the intrinsic value, the difference
iÅlÅӘŸÅËÀÅΘňÅÅʸ׈ÅÅÓ›ÅÅÆ¢iÅlÅƬňÅiÅlŸÅ¥ÀÅÅ¢ÅÊÂÅÅƈśÅÐÅƈť¬ÅźňÅ®ÅfÅÆÀňÅŸÅЬ ÅiÅÓlf›Å ÅÅӺŠbetween the employee compensation cost so computed
›Å¢dÅŘÅÓ®ÅŬÅÓiÅlŸÅ¥ÀÅÅ¢ÅÊÂÅÅƈśÅÐÅƈť¬ÅźňÅiÅÓldÅĈŢiÅlÅÓÅƘŌӯÅiÅlÅÆ¢›ÅÅÓ}¥ŸÅԛŨiÅl}ÅÆiÅl ÅÅ and the employee compensation cost that shall have been
recognized if it had used the fair value, shall be disclosed in
wÅÅhºÅÅdÅÅ×¢e¶ÅdÅĈŢiÅlÅÊ®ÅwŸ¶ÅÓiÅÄl›Å˜ÅÅÊiÅÓl¬ÅŞÅ®Å›Å¨ÅƈůÅӠŢdÅwÅ¥˜Å

e¥›ÅÅÊh¶Å

 the Directors’ Report and the impact of this difference on profits
›Å¢›Åރ˜ÅÓ®ÅŬÅӛŨžÅÅ®ÅiÅlÅÓžÅÅÊÅƘŌӯÅiÅlÅÆ¢›ÅÅÓ}¥ŸÅԛŨiÅl}ÅÆiÅl ÅÅwÅÅhºÅÅß
œÅØiÅlf‰ÅldśÅÓÂÅÅdÅÅÔiÅlÅdÅŮů ÅiÅlˆÅÅ›Åރ˜ÅӛŢ›ÅŬŘÅiÅl¢ÓºÅÅß
¬ÅÅÛiÅle˜ÅdÅ®ÅÅƅÅ applicable.
dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶ÅiÅÓlˆÅ¸ˆÅÝwÅÅ¢ÅÊeÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅlÅÓ¶ÅӜÅÅÊÅÆ®ÅÅƘŠşÅÅÔ
iÅÓldŘÅζÅÅ¢dÅŜÅÄ}˜ÅiÅlÅʈÅÅ¢ÅÊnŶÅÓ˜ ÅИňşÅhiÅl®ÅµÅ¥iÅlÅÊdÅ®ÅÅƅÅiÅÓlÅƬÅh¬ÅÅÛiÅlÅÆiÅl ÅÅ
wÅÅhºÅÅß
e¶Å ÅƬÅh œÅØiÅl iÅlÅÓ ÅƮůÅӵŠ¶ÅÄiÅl¬›Å iÅÓl ÝwÅÅÆ¢h ¯ÅӠޅÅÅ¢iÅlÅÔ ¶ÅÓ ¶Å¸ŸÅÅƈÅ ›Å¨Å›ˆÅ iÅl¢˜ÅÅÊ
¸ÅÓºÅÅÊßdňÅf‰Ål›Å¨¶ˆÅŮŸӈÅÎdÅśÅiÅlÅʶŸŸÅÅƈÅiÅlÅdŘÅ΢ÅӅŸ×ß
ÅƘŌӯÅiÅlŸÅă¬Å›Å¨¶ˆÅÅÅƮňÅÅƮůÅӵŶÅÄiÅl¬›ÅiÅÓl›ÅÅÅÆ¢ˆÅ¸ÅӘÅÓ iÅlÅÓ ¶ÅĶˆÅΈÅiÅl¢ˆÅŸ×ßœÅØiÅl
and on earnings per share (“EPS”) of the company shall also be
disclosed in the Directors' Report.
The Bank will comply with the above requirements as and when
Lock in period:
The equity shares issued under “IOB-ESPS 2019-20” shall be
locked in for a minimum period of one year from the date of
allotment as per SEBI Regulations. For this purpose the Bank
is required to obtain the consent of the shareholders by means
of a special resolution. Hence your consent is requested for the
above proposal.
The Board of Directors recommends the passing of the
proposed Special Resolution. None of the Directors of the Bank
iÅlÅiÅlÅÓe¥ žÅÅÊ ÅƘŌӯÅiÅlf‰Ål¶ÅÄiÅl¬›Å›ÅÅÔiÅÓl›Å¨ÅƈÅeÀ~ÎiÅl˜Å¸ÅË ¸×ÅƜŘÅÅœÅØiÅlŸÅÔ f˜ÅiÅlÅÊ is interested or concerned in the aforementioned Resolution(s),
¯ÅӠޅÅÅÅÆ¢ˆÅÅiÅlÅʶÅÅʟÅÅiÅÓlß except to the extent of their shareholding in the Bank.
ÅƘŌӯÅiÅlŸÅă¬ÅiÅÓldÅŌӯŶÅÓ By order of the Board of Directors

ÀÅӚÅ× dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ Chennai (R Subramaniakumar)

 ›Å¨œÅ˜…ÅÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊ 27.05.2019 Managing Director & CEO

31
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32
DIRECTORS’ REPORT 2018-19
The Board of Directors have pleasure in presenting the Annual
Report together with Audited Balance Sheet and Profit & Loss
Account of the Bank for the year ended 31st March, 2019.
Global Business Performance
Global growth is projected at 3.3% in 2019 and 3.4% in 2020,
with downside risks continuing to build. High policy uncertainty,
ongoing trade tensions, and a further erosion of business and
consumer confidence are all contributing to the slowdown.
Global trade growth has slowed sharply and new orders
continue to decline in many countries. The trade restrictions
introduced last year are a drag on growth, investment and living
standards, particularly for low-income households.
GDP growth in India has eased, but is projected to be around
7¼ per cent in FY 2019 and FY 2020. Business confidence
and investment remain strong, and activity should benefit from
easing financial conditions, accommodative fiscal policy and
recent structural reforms.
The Bank continued its efforts towards rebalancing its Balance
Sheet under the current year. The focus was laid on to improve
the RAM portfolio with a view to mitigate the risk and improve
capital efficiency. The Bank further reduced the concentration of
Bulk deposits and improved the share of low cost deposits. The
Global Business level stood at Rs. 3,74,530 crores as on 31st
March 2019 against Rs. 3,67,831 crores as on 31st March 2018.
The global deposits and gross advances stood at Rs. 2,22,534
crores and Rs. 1,51,996 crores respectively as on 31st March
2019 against Rs. 2,16,832 crores and Rs. 1,50,999 crores
respectively as on 31st March 2018.
Financial Performance
The efforts during the current year were aimed at sustaining the
higher operational efficiency levels as the operating environment
remained firm. The right sizing of balance sheet had its impact
felt on the revenue streams substantially which was cautiously
balanced with optimising the expenses. Focused attention was
laid to improve the other income sources which helped the Bank
to report substantial improvement in its operational efficiency.
As a result, the Bank improved its operating profit which ended
at Rs.5,034 crores in FY 2018-19 compared to Rs. 3,629 crores
recorded in previous year.
Focused attention was laid on Gross NPA reduction which
decreased and ended at Rs. 33,398 crores for FY 2018-19 as
against Rs. 38,180 crores in FY 2017-18. The higher provision
requirements of Rs.8772 crores during the year forced the Bank
to report a Net Loss of Rs.3738 crores for the year. The Bank
had reported Rs. 6,299 crores of loss during 2017-18.
Income and Expenditure Analysis
The rebalancing of asset side of the Balance sheet had major
impact on the revenues of the Bank. Even though, the Bank
got benefit from its focused attention on low cost deposit with
a favorable Cost of Deposits, the marginal easing under NPA
levels & Capital constraints restricted the growth opportunities
to improve the income level. Maximum effort was laid on towards
33
improving the Non interest income with higher thrust given on
automating charges which has yielded results. It is noteworthy
to mention that the Non Interest Income recorded a growth of
12.28% to end at Rs. 4,206 crores as against Rs. 3,746 crores
recorded in FY 2017-18.
The domestic CASA deposits stood at Rs. 84,394 crores as on
31st March 2019 as against Rs. 78,739 crores as on 31st March
2018. The CASA% stood higher at 38.72% as on 31st March
2019 as against 37.43% as on 31st Mar 2018.
The higher level of CASA and reduction of the bulk deposits
helped the Bank to reduce the domestic Cost of deposits which
ended at 5.49% for FY 2018-19 as against 5.62% in FY 2017-18.
The yield on domestic advances came down to 7.41% for FY
2018-19 as against 7.91% in the previous year.
The domestic yield on investments stood at 6.97% for the whole
year 2018-19 compared to 7.77% in FY 2017-18. The Bank
was able to maintain the global Net interest margin at 2.08%
in 2018-19 as against 2.19%.The Bank maintained a Provision
Coverage Ratio of 71.39% for FY 2018-19 as against 59.45% for
FY 2017-18.
Capital Raised during 2018-19
Capital Infusion by Government of India
The Bank issued 137,30,10,821 equity shares of Rs.10/-
each for cash at issue price of Rs. 15.71 per equity share
(including premium of Rs.5.71 per equity share) aggregating to
Rs. 2,157 crores to Government of India on Preferential Basis
on 12th November 2018 for the capital infusion received from
Government of India on 23rd July 2018 and 269,54,67,422
equity shares of Rs.10/- each for cash at issue price of 14.12
per equity share (including premium of Rs.4.12 per equity
share) aggregating to Rs.3,806 crores to Government of India
on Preferential Basis on 28th March 2019 for the capital infusion
received from Government of India on 21st February 2019.
Employee Stock Purchase Scheme
The Bank’s ESPS was launched for subscription on 31st
December 2018 and the Issue was closed on 21st January
2019 as scheduled. The Bank issued and allotted 18,24,00,000
equity shares to its employees at a discounted price of Rs.
11.90 per share. In this process the Bank augmented its capital
funds to the extent of Rs. 261 crores. IOB has scripted history
by becoming the first Public Sector Bank to record 100%
subscription to ESPS. Disclosures required under SEBI (Share
Based Employee Benefits) Regulations, 2014 read with SEBI
circular no. CIR/CFD/POLICYCELL/2/2015 dated June 16, 2015
are available on the Bank’s website https://www.iob.in/Investor-
cell. The IOB ESPS 2018 Scheme is in compliance with the SEBI
(Share Based Employee Benefits) Regulations, 2014.
During the year under review, the shareholding of Government
of India, has increased from Rs. 4,389.08 crores (89.74%) to
Rs. 8,457.56 crores (92.52%) and the Public shareholding
stands at Rs.684.09 crores (presently 7.48%). The paid-up
capital of the Bank has increased from Rs. 4890.77 crores to
Rs. 9141.65 crores.
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34
Raising of Tier II Bonds
During the quarter ended December 2018, the Bank had raised
Basel III Compliant Tier II bonds aggregating Rs. 300 crore on
private placement basis at a coupon rate of 11.70% with tenor
of 10 years from the date of allotment and with call option at the
end of the 5th year or on any coupon payment date thereafter.
M/s. CRISIL and M/s. ICRA have assigned ratings of CRISIL A+/
Stable and [ICRA] A+(hyb)/ Negative for the Tier II Bonds Issue
of the Bank.
Authorized Capital
As on 31st March 2019, the Authorized Capital of the Bank is
Rs. 10,000 crores.
Capital Adequacy Ratio
The Bank’s capital adequacy ratio as on 31st March 2019 stood
at 10.21 % as per Basel III norms.
Branch Network
The Bank has 3,280 domestic branches as on 31st March 2019
as against 3,332 branches as on 31st March 2018, comprising
of 914 rural branches (27.87%), 965 Semi Urban branches
(29.42%), 669 Urban branches (20.40%) and 732 Metropolitan
branches (22.32%). The Bank also has 7 Zonal Offices, 48
Regional Offices, 3 Extension Counters, 2 Satellite Offices, 3
City Back Offices and 6 Zonal Audit Offices. During the year
under review, the Bank has closed 53 branches and opened
one branch.
Corporate Governance
Corporate Governance reflects the built in value system of the
Bank in conducting its day to day affairs. The Bank recognizes
the critical importance of effective Corporate Governance for the
safe and sound functioning of the Bank and lays emphasis on
ensuring that structures, processes and systems are put in place
to establish strategic objectives to serve the interest of the Bank
and its stakeholders with a view to facilitate effective monitoring.
IOB – Code of Conduct for Prohibition of Insider Trading,
2019
Pursuant to Regulation 9 of Securities and Exchange Board of
India (Prohibition of Insider Trading) Regulations, 2015, the Bank
had formulated IOB Code of Conduct for Prohibition of Insider
Trading, 2015, to regulate, monitor and report trading by the
Directors, employees and other connected persons of the Bank
with a view to comply with the provisions of the Regulations.
In view of the amendments vide SEBI (Prohibition of Insider
Trading) (Amendment) Regulations, 2018, the Bank has now
formulated IOB Code of Conduct for Prohibition of Insider
Trading, 2019 effective from 1st April 2019. The new Code is
prescribed to regulate, monitor and report trading by ‘Insiders’
limited to only ‘Designated Persons’.
SEBI (Listing Obligations and Disclosure Requirements
Regulations), 2015 (LODR)
As per SEBI (LODR),
¾ The Bank is providing remote e-voting facility to
its shareholders, in all Annual General Meetings/
Extraordinary General Meetings.
35
¾ The Code of Conduct is applicable to all members of
the Board and the Senior Management (i.e., General
Managers of the Bank).
¾ The Bank is submitting a quarterly compliance report
on Corporate Governance to the Audit Committee of the
Board and to BSE & NSE, where the shares of the Bank
are listed.
¾ The Bank is also submitting Quarterly Investor Grievance
Report to BSE & NSE.
Investor Education & Protection Fund (IEPF)
As per the guidelines of Ministry of Corporate Affairs (MCA),
Government of India, the Bank transferred Unpaid Dividend
amount pertaining to the year 2010-11 to IEPF on 7th September
2018. The unpaid dividend data pertaining to the years 2011-
12 to 2013-14 is ported in MCA website and is also available
at www.iob.in. Accordingly, the Bank has complied with the
guidelines of Government of India in respect of transfer of
unpaid dividend to IEPF.
Bank is complying with all guidelines/regulations laid down by
the Regulatory Authorities and Government of India from time to
time. The Bank redresses the shareholders grievances without
any delay.
Board of Directors
Shri Vishnukumar Bansal, Additional Director, two years’
term ended on 7th August 2018 and Shri Sivaraman Anant
Narayan, Non-Official Director, resigned from the Board on 15th
November 2018.
Acknowledgement
The Board of Directors are grateful for the valuable guidance
and support received from the Government of India, Reserve
Bank of India, Securities and Exchange Board of India (SEBI),
Stock Exchanges, State Governments, Financial Institutions and
all Overseas Regulators. The Board of Directors acknowledge
with thanks the valued Customers, Employees Union, Officers
Association, domestic and international banking group, the
shareholders & other stake holders for their valued support and
continued patronage with the Bank.
The Board also wishes to place on record its profound
appreciation for the valuable contribution of the Bank’s Staff at
all levels and looks forward to their continued involvement with
commitment towards achieving the future goals.
For and on behalf of the Board of Directors
Chennai R Subramaniakumar
9th May, 2019 Managing Director & Chief Executive Officer
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36
MANAGEMENT DISCUSSION AND ANALYSIS
Economic and Banking Environment
Indian economy registered a growth rate of 7% during the
FY2018-19 period as per advance estimates of the Central
Statistical Office. However, the growth may ease to 6.5% in Q4
FY19, against 6.6% in the previous quarter as per the finance
ministry report. The slowdown was due to declining growth
of private consumption, tepid increase in fixed investment
and muted exports. The economy witnessed robust industrial
growth during FY 2018-19 and the Index of Industrial Production
(IIP) with base 2011-12 for the April-January period for 2018-
19 registered a 4.4% increase over the corresponding period
for the previous year. Industries such as capital goods and
infrastructure/construction goods expanded significantly.
In Banking Sector, improvement in credit off take and reduction
in slippages are positive signals for the growth. Government
of India infused capital to the PSBs to meet the regulatory
requirements as well to improve the credit off take. The CD ratio
of PSBs are hovering around 78%. The speedy recovery from
the NCLT accounts is expected to fuel the growth of the banking
system.
Background of the Bank
Indian Overseas Bank (IOB) was founded on 10th February
1937 by Shri. M. Ct. M. Chidambaram Chettyar, a pioneer in
many fields. IOB was one of the 14 major banks that were
nationalized in 1969. On the eve of Nationalization in 1969, IOB
had 195 branches in India with aggregate deposits of Rs.67.70
crores. and Advances of Rs.44.90 crores.
Bank has its overseas presence in 5 countries Singapore,
Hongkong, Thailand, Srilanka and South Korea. IOB sponsored
two Regional Rural Bank namely Pandiyan Grama Bank in Tamil
Nadu and Odisha Gramya Bank in Odisha during the financial
year.
Key Highlights
¾ 82 years in the service of Banking.
¾ Strong Domestic presence of 3280 Branches &
3450 ATMs.
¾ 57% of Branches catering to the needs of Rural and
Semi Urban centres enhancing deeper Financial
Inclusion.
¾ 2705 Business Correspondents provide extended
reach.
¾ A strong Brand name in South India especially in
the State of Tamil Nadu.
¾ Trust of 36 million active customers.
¾ Overseas Presence with 6 branches and 1
Representative Office.
¾ Sustained Growth in Low cost CASA deposits.
¾ Improved performance in Retail, Agri and MSME
Segments contributing to 67.20% of Domestic
Advances.
37
Bank’s Operations
Domestic Deposits
The Bank’s total domestic deposits stood at Rs.2,17,963 crores
as on 31st March 2019 as against Rs. 2,10,388 crores as on 31st
March 2018. The increase in deposits was mainly on account
of steps taken by the Bank towards improving the CASA. The
domestic CASA has increased from Rs. 78,739 crores as on
31st March 2018 to Rs. 84,394 crores as on 31st March 2019.
It is noteworthy to mention that the savings bank deposits have
grown by 6.08% over 31st March 2018 to end at Rs. 70,493
crores. The CASA% also improved to 38.72 % as of March 2019.
Domestic Advances
The incremental NPAs and capital constraints have forced the
Bank to be more cautious on large scale lending. With a view to
diversify the risk and to improve the margins, the Bank focused
more on Retail and MSME sectors during the fiscal year. The
Domestic Gross Advances stood at Rs.1,46,001 crores as on
31st March 2019 as against Rs. 1,38,516 crores as on 31st
March 2018.
Overseas Operations
The Bank had 9 establishments abroad, including 6 Overseas
Branches, 1 Representative office, 1 Remittance Center and 1
Joint Venture Subsidiary as on 31st March 2019. There are two
Branches at Bangkok and one each at Singapore, Hong Kong,
Colombo and South Korea. Representative office is located at
Dubai.
During the year 2018-19, Bank closed its Branch at TST-Hong
Kong and merged its operation with Hong Kong Main Branch.
In Colombo, Bank closed Bambalapitiya Branch and merged its
operation with Colombo Main Branch. Bank also closed Boon
Lay Remittance Centre at Singapore and merged its operation
with Serangoon Remittance Centre.
The Joint Venture subsidiary India International Bank (Malaysia)
Berhad is functioning at Malaysia.
The overseas business stood at Rs.10,567 Crs as of 31st March
2019 as compared to Rs.18,927 Crs as of 31st March 2018.
Forex Operations
The profit on sale of investments was higher at Rs.732
crores during 2018-19 (Rs.636 crores during 2017-18) before
accounting category transfer loss at Rs.0.30 crores as against
Rs. 186 crores in the previous year. The profit on exchange from
Forex business stood at Rs.493 crores as against Rs.553 crores
in the previous year.
Investments
Net investments of the Bank decreased to Rs. 66,932 crores
as of 31st March 2019 from Rs. 68,913 crores as on 31st
March 2018. Total Profit including sale of securities & profit
on exchange amounted to Rs. 1,225 crores during the year
2018-19 as against Rs. 1208 crores during the year 2017-18.
10-year base yield has moved down from 7.42% to 7.34%
during the year.
MSME
The share of credit to Micro, Small and Medium Enterprises
stood at Rs. 33,936 crores as on 31st March 2019. MSME
portfolio of the Bank registered a growth of Rs.1,033 crores
during the FY 2018-19 and increased from Rs.32,903 crores as
on 31st March 2018.
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38
Micro Category advances registered substantial growth and
stood at 8.76% of ANBC as on 31st March 2018, thereby
surpassed the mandatory target of 7.50%. The Share of MSME
Portfolio (Rs. 33,936 crores) stood at 44.17 % of total priority
sector advances of the Bank i.e., Rs. 76,824 crores as on
March, 31st 2019.
Bank has sanctioned 1,76,475 loans amounting to Rs. 2,288
crores (97.37 %) and disbursed Rs. 2,228 crores (94.80 %) as
on 31st March 2019 vis-à-vis target of Rs. 2,350 crores under
Pradhan Mantri Mudra Yojana (PMMY) during the Financial Year
2018-19. MUDRA facilitation desk is created and Mudra Nodal
Officer is designated at all Branches.
Bank has sanctioned 1,209 loans amounting to Rs.261 crores
under Stand Up India Scheme during the FY 2018-19.
As on March 31st, 2019, collateral free loans to Micro and Small
Sector sanctioned by the Bank increased to 77,477 loans with
outstanding amount of Rs.2,732 crores under the guarantee
cover from CGTMSE scheme.
Bank has enrolled as Member Lending Institution with NCGTC
to secure all Retail Trade advances sanctioned under MUDRA
Scheme (Loan amount upto Rs.10.00 lakhs) under the guarantee
cover from CGFMU Scheme. As on March 31st, 2019, Bank has
covered 52,925 accounts with an exposure of Rs.719 crores
under CGFMU Scheme.
Bank has been fully involved and participated in the outreach
program announced by the Hon’ble Prime Minister on 2nd
November 2018. Bank has organized a Special SLBC meeting
on 23rd January 2019 at Chennai, with various stake holders
and strategized the process of implementation of outreach
program in the State of Tamilnadu. The Bank has presence in
84 Districts identified for Outreach, wherein it has conducted/
participated in various special camps/programs during the
campaign period and created awareness among the public on
the various initiatives taken by the Govt. of India.
Bank has put in place Board approved policy as per the direction
from RBI, vide Circular DBR.No.BP.BC.18/21.04.048/2018-19
dated January 1, 2019, wherein RBI has permitted Banks’ a
one-time restructuring of existing loans to MSMEs classified
as ‘standard’ without downgrade in the asset classification. As
per the laid down guidelines the accounts shall be standard as
on 1st January 2019 and the exposure of the account from the
banking industry shall not exceed Rs.25 crores. Bank introduced
Standard Operating Procedure (SOP) and sensitized the field
functionaries, identifying all the stressed MSME units and
implementing the guidelines.
Bank has also implemented the “Policy on Revival and
Rehabilitation of MSMEs” under the New Frame work of RBI
and ensured formation of committees at all Regional Offices to
consider extending Relief to MSME units under stress.
Online MSME Loan Processing System
Bank has automated the MSME loan processing for loan
amount up to Rs.10 lakhs and integrated it with the CBS system
(Finacle) with end to end solution. The platform supports the
user for generating Rating, Inspection Reports, Process Note,
Sanction, Documentation, Loan Master creation etc, simply by
keying in the required basic information in the data sheet. This
facilitates structured way of lending and ensures compliance of
39
the policy guidelines, quick disposal of proposals with reduced
Turnaround Time (TAT). The Bank is also in the process of
revising the loan limit up to Rs.200 lakhs in a phased manner,
by introducing the necessary checks and balances.
Loan Application Register with E-Tracking
Bank has introduced Online registration of loan applications with
e-tracking facility. It is mandatory to enter all loan applications
through the system. The system generates a Unique ID
number, which is to be incorporated in all proposals to track
the status of the proposals. The system generates SMS alerts,
e-mails reminders to all layers of authority for close follow up /
monitoring and facilitates to improve the TAT besides containing
the rejections.
www.psbloansin59minutes.com
Bank has on boarded as financier in the www.
psbloansin59minutes .com portal. The platform handles loan
proposals up to Rs.100 lakhs. Bank is encouraging all the
existing as well as new customers for registration under GST
and also for on boarding the platform to support their credit
needs.
Cluster Finance
Bank has identified nine potential clusters across Pan India,
formulated special schemes to promote MSME credit and also
is in the process of identifying more such Clusters.
Ceramic Industry Morvi, Gujarat State
Textiles Industry Coimbatore, Tamil Nadu State
Engineering goods Coimbatore, Tamil Nadu State
Auto components Chennai / Kancheepuram,
Tamil Nadu State
Auto components NCR Delhi
Engineering & Packaging NCR Delhi.
Plywood Industry Perumbavoor, Kerala State
Hosiery / Textiles Ludhiana, Punjab State
Auto / Bicycle components Ludhiana, Punjab State
Specialised SME/MSME Focused Branches
As per the Regulatory guidelines, Bank has opened 28
Specialized SME branches across Pan India. In addition,
Bank identified 273 Branches with MSME growth potential and
designated them as MSME Focused Branches.
¾ These branches are equipped with necessary
infrastructure and proper manning of staff.
¾ Bank has imparted training to the Branch Heads /
Credit Officers on MSME lending.
¾ Bank has nominated one MSME Relationship
Officer in all the Branches and assigned special
targets and monitoring the progress regularly.
Lead Generation
Branches have been provided login access to view and capture
the leads i.e., applications marked to the Bank in Standupmitra/
Udyamimitra/ GST leads in psbloansin59minutes.com portals
to ensure quick processing and disposal of the applications.
Bank solicits business through the existing client base by
approaching their Suppliers/Relatives/Friends etc., and offer its
services.
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40
Bank has entered MoU / Tie-Up arrangements with M/s Bharatiya
Yuva Shakti Trust (BYST), M/s Ashok Leyland, M/s TVS Motors
Ltd., M/s Atul Auto Ltd., etc., and provides necessary financial
assistance to identified beneficiaries under Mudra / Stand Up
India Schemes.
Bank has been organizing Special Training Camps at 13
RSETIs spread across Tamilnadu and Kerala states, providing
necessary training and support to SC, ST, Women beneficiaries
for their financial needs through credit linkage under Mudra
/ Stand Up India Schemes to take up gainful employment by
exhibiting their entrepreneurial skills.
Bank has entered into a Tie up arrangement with RXIL and
enrolled as member, participating in the TReDS platform for
financing against receivables of MSMEs in the online platform.
Exclusive MSME portal created in IOB ONLINE with all latest
updates on Bank, Regulatory guidelines related to MSME, to
facilitate Branches / Regions with the latest information.
Bank has taken various steps and reduced the Turnaround time
for processing the MSME credit proposals at all layers. Bank
has designated MSME Nodal Officers at all Regional Offices to
facilitate quick sanction of MSME loans and follow up of NPA
accounts.
Bank has entered into Tie-Up arrangement with reputed
organizations viz., NIBM / B Q Global to provide training to
the staff members on regular basis. Bank is also conducting
workshops at Staff Training Centres Pan India to create
awareness among the Staff on MSME Regulatory guidelines,
Schemes and Govt. sponsored Schemes viz., Mudra, Stand
Up India, PMEGP etc., along with nominating the Staff to the
NAMCABS workshops organized by RBI.
Retail Banking
The total outstanding amount under the Retail credit schemes
increased from Rs. 28,183 crores as of March 2018 to Rs.
31,588 crores as of March 2019 showing a growth of 12.08%.
The total disbursement made during the period April 2018 to
March 2019 was Rs 8,706 crores. The overall Retail share to
domestic advances has increased from 20.34% to 21.63%.
Housing Loan portfolio has shown a growth of 12% over March
2018 position (Excluding pool buyout accounts) while the fresh
disbursement during the period is Rs. 2,235 crores. Under the
Vehicle loan scheme, the outstanding stood at Rs. 2,972 crores
as of March 2019 with fresh disbursements made to the tune of
Rs. 1226 crores during the year. The outstanding under clean
loan segment is Rs. 911 crores.
Mortgage loan has shown a growth percentage of 52.79% and
other Retail loans has shown a growth of 30%
New Retail Products introduced during the FY 2018-19:
¾ IOB Scholar scheme has been revamped with
certain modifications such as increase in loan
quantum to a maximum of Rs 60.00 lacs, Extension
of Repayment period to 15 years and other factors
such as holiday period, security coverage, interest
rate and discretionary powers.
¾ Pradhan Mantri Awas Yojana has further been
extended for a period of one year with extension in
carpet area for MIG I & II
41
¾ IOB Vidya Shrest: Indian Institute of Technology in
Public Private Partnership basis – IIT (PPP) has been
included under List B for considering educational
loans under this scheme. After the above inclusion,
the number of institutions eligible to be covered
under Vidya Shrest education scheme is 46 under
List A and 57 under List B.
Lead Management System:
Lead Capture and Nurture System has been successfully
launched for Retail loans with end to end digitalisation. Lead is
being sourced through multi channels - mobile app/ web site/
internet banking/ mobile Banking. The viable leads are instantly
captured by the call centre team and parked to the branches.
The captured leads are nurtured and converted to business to
the maximum extent. Automated SMS and email is being sent
to the customer at each stage from the lead origination to
business conversion. Non conversion of leads is monitored by
auto tracker and escalation mails.
REAP (Retail Automation Process System) :
¾ Automation and leveraging technologies in REAP
helped the Bank to win the Prestigious Vigilance
innovation Award.
¾ End to end digitalization of Retail loan made us to
stand above the Peer Banks in “The EASE Scoring”
and laid the footsteps to EASE Banking Reforms
Awards – 2019
¾ About 48000 retail loans under Housing/Vehicle/
Clean loan sector were processed through Loan
Automation which contributed to 75% of the loans
processed under these sectors.
Online Submission of PMAY (Urban) claims has been
introduced from 28th December 2018 where branch can log in
to Branch products in IOB Online and submit the PMAY claims.
Relief measures have been provided to Retail loan borrowers
in areas affected by Gaja Cyclone in TAMILNADU such as re-
scheduling of Education loans (upto one year) and need based
fresh loans for Home repairs, renovation etc.
Performance on Para Banking Products
Under Bancassurance and Mutual Fund Business, the Bank
has earned income of Rs.23.86 crores during the year 2018-
19 which is 12.28% growth over 2017-18 where in the income
was Rs.21.25 crores. Various campaigns were floated for Para
banking Products and Mutual Fund Schemes during the financial
year 2018-19, which increased our Para banking income.
IOB Suraksha
Bank has launched IOB Suraksha - Personal Accidental Death
Insurance Scheme on 14th April 2017 for coverage of Rs.10
Lacs with a nominal annual Premium of Rs.100 + Service Tax for
all our Customers. The Bank has covered 15.68 Lacs account
holders under this scheme as on 31st March 2019. During the
financial year 2018-19 under IOB Suraksha, a total of 113 claims
amounting to Rs.11.30 crores were settled.
New Deposits Schemes
NRO Tax Saver (launched on 08th February 2019): Scheme is
launched in line with the existing Tax Saver scheme for domestic
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42
depositors. As per Section 115 D of Income Tax Act, the benefit
under Section 80C is available to an NRI also, only if he has
earned income other than investment income (Interest) and
long term capital gain.
IOB-Eighty plus (launched on 27th September 2018): As
a reciprocation of loyalty to long standing senior citizens, a
unique product is launched exclusively for senior citizen of 80
years and above in SB and Term deposit.
Savings Bank account-IOB-Eighty plus-SB loaded with several
benefits while Term Deposit schemes offer Additional Interest of
0.25% over the applicable rate to Senior citizen.
Motor Accident claim-SB and Term Deposit: Bank has
launched an annuity deposit product for disbursing the
compensation amount to the victims of Road accident in a
phased manner in compliance to the orders of the Honorable
Delhi High Court with recommendations from IBA.
Mid Corporate
Mid Corporate caters to the lending requirements of borrowers
in the range of Rs.40 crores and upto Rs.100 crores. In the
prevailing market conditions, to maintain the asset quality,
the Bank has been selective in extending new/ enhanced
credit limits. During the year 2018-19, Bank has sanctioned
total credit limits of Rs. 623 crores (Fresh: Rs. 186 crores and
Enhancement: Rs.436 crores). Aggregate exposure under Mid
Corporate segment as on 31st March 2019 is Rs. 7,116 crores
(including Fund Based exposure of Rs. 4,897 crores and Non
fund based exposure of Rs. 2,219 crores).
Large Corporate
Large Corporate caters to the requirement of borrowers other
than agriculture, retail and MSME, where credit requirement is
above Rs.100 crores for an individual borrower and its group
accounts. Under this vertical, Bank has Fund based exposure of
Rs. 38,625 crores and Non Fund based exposure of Rs. 12,376
crores as on 31st March 2019 spread over various core industries
and other segments. During the Year, Bank has realigned its
Credit portfolio and transferred all Non-Performing Assets
(with O/s of Rs.3,085 crores) to Stressed Asset Management
Department for dedicated resolution of Stressed Assets.
During the year, the Bank has taken a conscious decision to
restrict the Corporate Credit portfolio and hence Fresh limits
or enhancements have been considered for selected accounts
and mostly in Investment grade accounts and/or accounts
guaranteed by State Government. The Bank has considered the
following Fresh/Enhancement Sanctions in FY 2018-19
FB NFB Total Of which
investment
grade
Fresh 3920.00 116.00 4036.00 4036.00
Enhancement 391.54 651.99 1043.53 1021.76
Total 4311.54 767.99 5079.53 5057.76 (99.57%)
The Bank is also undertaking the Participating and Down selling
of portfolio of Corporate Assets under Inter Bank Participation
Certificate (IBPC) with other Banks. During the FY 18-19, Bank
has participated in IBPC transaction for Rs. 3000 Crores and
Down-sold portfolio under IBPC for Rs. 1000 Crores rolled over
43
from time to time. This has helped the Bank in Augmenting the
Top line, along with the realigning of the Credit portfolio and
improve the CRAR.
Priority Sector Credit
The average achievement of four quarters for the FY 2018-19
stood at Rs. 75,393 crores against the target of Rs. 58,751
crores and the Bank has surpassed the mandatory norm of
40% of ANBC by achieving 51.33% under Total Priority sector
advances. This unprecedented achievement of 51.33% during
FY 2018-19 as against the achievement of 47.47% during the
previous FY 2017-18 is mainly due to the strategic approach
of the Bank in leveraging the Rural / Semi Urban branches and
Rural Development Officers.
Rural and Semi urban branches mainly engaged in priority
sector credit, constitute 57.31% of the total branches and with
the strong workforce of 412 specialized Rural Development
Officers at field, being reoriented to render their services
effectively in these centers, have yielded a good growth under
Priority sector advances during the FY 2018-19.
The Bank has surpassed the mandatory norm of 40% with
comfortable margin under Priority sector advances, our Bank
has sold Priority Sector Lending Certificate of Rs. 3,736 crores
during the FY 2018-19, out of which Rs. 1,500 crores are
under PSLC-SF/MF and Rs. 2,236 crores under PSLC-General
category and earned a profit of Rs.34.34 crores. The average
achievement of 51.33% of ANBC under priority sector advances
during the year is after reduction of the above PSLC sale.
Agriculture
The average achievement of four quarters for the FY 2018-19
stood at Rs. 31,048 crores against the target of Rs. 26,438
crores and the Bank has surpassed the mandatory norm of
18% of ANBC by achieving 21.14% under Agriculture advances.
There is substantial growth in Agriculture advances with average
achievement of 21.14% of the ANBC during the FY 2018-19 from
20.23% during FY 2017-18, even after sale of Rs. 1,500 crores
of PSLC under SF/MF category. The Bank disbursed Rs. 31,605
crores under Special Agriculture Credit plan (SACP) as against
the target of Rs. 29,328 crores during the year.
Loans to Small and Marginal farmers
The average achievement of four quarters for the FY 2018-19
stood at Rs. 15,530 crores against the target of Rs. 11,750
crores and the Bank has surpassed the mandatory norm of 8%
of ANBC by achieving 10.57% under loans to Small/ Marginal
farmers. This achievement is arrived at after reducing the sale of
PSLC – SF/MF of Rs. 1,500 crores during FY 2018-19.
Loans to Non-Corporate farmers
The average achievement of four quarters for the FY 2018-19
stood at Rs. 22,532 crores against the target of Rs. 17,611
crores and the Bank has surpassed the mandatory norm of
11.99% of ANBC by achieving 15.34% under loans to Non-
Corporate farmers.
Loans to Weaker Section
The average achievement of four quarters for the FY 2018-19
stood at Rs. 20,054 crores against the target of Rs. 14,688
crores and the Bank has surpassed the mandatory norm of 10%
of ANBC by achieving 13.65% under loans to Weaker Section.
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44
Microfinance
During the year, the Bank credit-linked 41,117 Self Help Groups
(SHGs) with a credit outlay of Rs. 1,315 crores. The cumulative
number of SHGs credit linked by the Bank is 7,41,182 and with
a total disbursement of Rs.91,234 crores as of March 2019.
Bank is awarded 2nd prize among Public Sector Commercial
Banks for Excellence in Performance under SHG- BANK
Linkage Program in the State of Tamil Nadu during the year
2017-18 from NABARD.
Bank has also received a Special award from the Honorable
Chief Minister of Tamil Nadu for Implementation of SHG-Bank
Linkage in the State of Tamil Nadu for the FY 2016-17 and 2017-
18.
Credit flow to women
Bank’s credit to women stood at Rs. 17,290 crores as of 31st
March 2019 which constitutes 11.68% of the Bank’s Adjusted
Net Bank Credit.
There are three Special schemes exclusively for financing
women beneficiaries available with the Bank namely IOB Sagar
Lakshmi: Loans to Fisher women, IOB Bhoomi Shakti: Loans to
women for all activities under Agriculture and IOB SME Mahila
Plus: Loan to women entrepreneurs under manufacturing and
service sectors.
The Bank provides Interest concession at the rate of 0.50% for
limits up to Rs. 50,000 and 0.25% for limits above Rs. 50,000 to
women beneficiaries under IOB Bhoomi Shakti scheme and
interest concession of 0.50% to the girl student under Vidhya
Jyothi Educational Loan scheme.
Financial Inclusion
Bank has engaged 2,577 Business Correspondents (BCs)
in allotted Sub-Service Area (SSA) & 113 BCs in un-allotted
SSA including 41 Urban BCs for providing Banking facilities
in un-banked areas. During the FY 2018-19, the number of
transactions undertaken at BC Outlets through the BC Hand
Held Device is 2,05,90,380. It is noteworthy to state that in
coordination with Government of Tamil Nadu, IOB Smart Card
Banking has been enabling about 3.30 lakh old age pensioners
to get their monthly pension and about 0.25 lakh Sri Lankan
Tamil Refugees in 61 camps to obtain their monthly dole.
As per the guidelines from MoF, GoI, the Bank has implemented
Aadhar Enabled Payment System (AEPS) ON-US and OFF-
US transactions through Business Correspondent Hand Held
devices.
Pradhan Mantri Jan Dhan Yojana (PMJDY):
The Bank has implemented PMJDY as per the directives of
Ministry of Finance, Govt. of India. The Scheme was launched
by the Prime Minister of India on 15th August 2014. The Bank
has opened 48,49,392 BSBD Accounts and issued 44,46,716
RuPay Debit Cards till 31st March 2019 under this scheme
out of which 46 % of RuPay cards have been activated by the
customers.
Aadhaar enrolment and update centres as per Aadhaar
Regulations, 2016.
As per Aadhaar Regulations, 2016, UIDAI has advised Banks
to establish Aadhaar enrolment/update Centres in Branch
45
premises. Staff members from the AEC Branches have been
trained and certified by UIDAI as Supervisors for Aadhaar
Enrolment/Updation. As on 31st March 2019, Bank has
operationalized Aadhaar Enrolment/Update centres in the
premises of 316 Branches.
Jansuraksha Schemes
The Jansuraksha Schemes were launched by the Prime Minister
of India on 1st June 2015. The Bank is enrolling customers
under Jansuraksha schemes like PMJJBY and PMSBY, and
Pension schemes like Atal Pension Yojana. As on 31st March
2019, the enrollment count under Jan Suraksha schemes is as
below:
Schemes Status of enrolment Status of Enrolment
as on 31st March 2019 during the year 2018-19
(Cumulative)
PMJJBY 6,79,773 1,30,977
PMSBY 25,32,670 2,75,013
Total 32,12,443 4,05,990
With respect to “Enhanced Access & Service Excellence”
(EASE) - Mandates Massive expansion in Micro Insurance
Coverage by tagging with MSME, Agricultural and other Retail
disbursements has taken place to cover borrowing individuals
and employees of borrowing entities under PMJJBY & PMSBY.
Bank has automated enrolments along with loan sanction
under MSME /Agri/Retail. Bank has also enabled provision for
enrolling PMJJBY/PMSBY through net banking. Bank shall be
shortly enrolling PMSBY through electronic mode also (enrolling
by SMS/missed call based)
Atal Pension Yojana
Financial Year Enrolments
2015-16 18,540
2016-17 60,084
2017-18 1,11,959
2018-19 1,03,711
Total APY Enrolments (Cumulative) 2,94,294
Rural Self Employment Training Institutes (RSETIs)
In line with the guidelines issued by Ministry of Rural
development, Govt of India, the Bank had set up total 12 RSETIs
in all Lead Districts, to provide training to farmers, members of
SHGs, beneficiaries under SGSY, educated unemployed youths,
artisans and beneficiaries belonging to weaker sections. The
RSETIs are managed by SNEHA trust established by the Bank.
During the year under review, the RSETIs have conducted 370
training programs benefiting 9,635 unemployed youths. Bank
has achieved cumulative settlement of 70% and cumulative
credit settlement of 50% which are well above the national
average of 66% and 42% respectively.
Financial Literacy
Financial Literacy is imparted through Financial Literacy
Centers (SNEHA) established at 23 locations under Corporate
Social Responsibility. The counselors of these centers are
educating the people in rural and urban areas with regard to
various financial products and services available from formal
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46
financial institutions, provide face-to-face financial counseling
services and offer debt counseling to indebted individuals.
They are also conducting periodical camps at various places.
As on 31st March 2019, 70,956 credit counselling have been
conducted by the FLCs since inception. 9,001 Financial Literacy
camps were conducted on various aspects of Banking since
inception. 92,011 SB accounts have been sourced and opened
since inception. 962 Special camps for newly included people
in the financial system were conducted by covering 1,14,702
beneficiaries. 1,377 camps were conducted for the target group
viz. SHGs, Students, Senior Citizens, Farmers and Micro &
small entrepreneurs by covering 1,79,505 beneficiaries.
UIDAI Cell
UIDAI Cell is involved in processing of DBT & DBTL files
received from Ministry of Rural Development, GOI through NPCI,
generation of Aadhaar Mapped file and acting as Sponsor Bank
for Pradhan Mantri Awaas Yojana – Gramin (PMAYG) Scheme
of Government of India. A total of 4.07 crores transaction were
processed under DBT/DBTL schemes amounting to Rs 9,393
crores during 2018-19.
Lead Bank Initiatives
The Bank has Lead Bank responsibility in 13 districts in Tamil
Nadu and 1 district in Kerala. The Bank is also the Convenor of
State Level Bankers’ Committee of Tamil Nadu (SLBC). During
the year, as Convenor of SLBC, Tamil Nadu, the Bank has
conducted four main meetings of SLBC.
In addition, the Bank as convenor of SLBC, Tamil Nadu convened
14 special meetings / core committee / sub-committee meetings
during the year.
Pradhan Mantri Jan-Dhan Yojana (PMJDY)
¾ SLBC, Tamil Nadu had given training to the Agency
maintaining Toll Free numbers for grievance
redressal for PMJDY and PMMY Schemes.
¾ Government of India has identified 115 backward
districts in the country as Aspirational Districts of
which two districts were identified in Tamil Nadu,
namely Ramanathapuram and Virudhunagar.
¾ SLBC, Tamil Nadu has conducted the special
campaign “Gram Swaraj Abhiyan”, a Government of
India’s special initiative in 1477 villages of 30 districts
of Tamil Nadu and achieved 100% saturation under
the schemes viz., PMJDY,PMJBY &PMSBY .
¾ SLBC, Tamil Nadu has conducted the “Extended
Gram Swaraj Abhiyan”, in the two Aspirational
districts of Tamil Nadu.
SLBC Initiatives for Financial Inclusion:
¾ SLBC identified 451 unbanked villages in Tamil
Nadu and allotted to various banks for opening of
Banking Outlets. So far Banking Outlets are opened
in 138 centres.
¾ In the state of Tamil Nadu, there are 9,323 Sub
Service Areas of which 489 SSAs are covered
through branches and 8,834 SSAs are covered by
Bank Mitras (BCs). There is no SSA uncovered in
the state.
47
¾ In the state of Tamil Nadu, the enrolments under
Jansuraksha Schemes have reached 105.18
lakhs as on 31.01.2019 which includes 26.41
lakhs enrolments under PMJJBY and 78.77 lakhs
enrolments under PMSBY.
¾ The Aadhaar saturation for the State of Tamil Nadu
is 102.27%.
SLBC initiatives on Credit Flow in Tamil Nadu:
Banks in Tamil Nadu have achieved the following as of
December 2018:
¾ CD ratio of 115.93%. Tamil Nadu stands one among
the very few states which achieved this feat.
¾ 103% under Annual Credit Plan 2018-19.
¾ 48.51% under Priority Sector against the national
norm of 40%.
¾ 21.55% of Agricultural Advances against the
national norm of 18%.
¾ 14.92% of advances to weaker sections against the
national norm of 10%.
Regional Rural Banks
Bank sponsored two Regional Rural Banks viz., Pandyan
Grama Bank in Tamil Nadu and Odisha Gramya Bank in Odisha.
Pandyan Grama Bank operates in 16 districts of Tamil Nadu with
a branch network of 339 and staff strength of 1394. As on 31st
March 2019 the RRB had a business mix of Rs. 12,169 crores
with a CD ratio of 97.71%. Pandyan Grama Bank sponsored by
the Bank and Pallavan Grama Bank sponsored by Indian Bank
was amalgamated to form Tamil Nadu Grama Bank w.e.f. 1st
April 2019.
Odisha Gramya Bank has presence in 13 districts of Odisha
with a network of 549 branches and staff strength of 2365. As on
31st March 2019, the RRB had a business mix of Rs. 16,179.12
crores with a CD ratio of 43.22%. Deposit and Advances of the
Bank stood at Rs. 11,296 and Rs. 4,883 crores respectively.
Corporate Social Responsibility
As a part of image building exercise various activities like Blood
Donation Camp, Health check-up camps, Swachh Bharat
Abhiyan, Supply of ornamental tree sapling were carried out for
the financial year 2018-19 which created brand visibility of the
bank pan India to a great extent.
Merchant Banking Activities
ASBA (Banker to Issue activity): All general banking branches
in India have been made ASBA enabled branches to accept
ASBA applications for IPO, FPO and Rights Issues. E-ASBA
continued to be in usage effectively by the customers. Bank is
also acting as a Syndicate ASBA bank to accept IPO/FPO/Rights
applications from Brokers and select branches are nominated
as Syndicate ASBA Branches. ASBA applications were handled
for 159 issues and an amount of Rs.275 crores were blocked
during the reporting period.
Other activities under Merchant Banking: The Bank continues
to act as Merchant Banker for issues, Debenture Trustee,
Paying Banker for Dividend / Interest Warrants etc. Bank is one
of the PSU Banks who is active in IPO segment, especially SME
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48
segment, by Underwriting and Co-Lead Managing. Bank acted Details of Customer Complaints received and redressed
as Co-Lead Manager for 1 SME IPO along with underwriting during the year 2018-19 is enumerated below:
commitment.
Number of complaints at the beginning of the year 192
Depository Operations: The Bank continues to act as Number of complaints received during the year 5,441
Depository Participant (DP) of NSDL and CDSL and is extending Number of complaints resolved during the year 5,512
depository related services through service centre branches. Number of complaints pending at the end of the year 121
27,414 accounts are under NSDL setup and 67 accounts are Effective Resolution Rate 97.85%
under CDSL setup. During Bank’s ESPS, Depository Services
Analysis of Complaints for the year ended 31st March 2019 is
has opened around 16500 Demat accounts for staff members
as follows:
in order to make them to participate in ESPS.
Nature of Complaints No. of Complaints % of Total
Insta Demat Account: Bank is in the process of developing
Complaints
a software to open demat accounts to customers through net
Advances 1,174 21.58
banking.
Customer Service 509 9.35
3 in 1 E Trading facility in tie up with Emkay Global Financial Demat Services 8 0.15
Services Limited & SMC Global Securities Ltd., e-trading facility Deposits 487 8.95
for demat clients has been implemented to improve the fee General Banking 1,342 24.66
based income. Around 1000 e-trading accounts have been
Government Business 39 0.72
opened so far.
Insurance 128 2.35
Capital Market Services Branch, Mumbai: CMS Branch, NRI Services 15 0.27
Mumbai is actively mobilizing assignments for IPOs. By taking Pension 309 5.68
up several assignments in SME IPOs, the image of the Bank Remittances 401 7.37
has been enhanced in stock exchanges / capital market Others 1,025 18.84
intermediaries.
Grand Total 5,441 100.00
Customer Service Stressed Asset Management Department
Bank is a member of the Banking Codes and Standard Board of Due to accretion of GNPA to an extent of Rs.3,629 crores in Q4
India (BCSBI). BCSBI has revised various Fair Practice Codes of 2017-18 as a result of introduction of Revised Framework for
which covers elaborately all the areas of Banking. Resolution of Stressed Assets by RBI on 12th February 2018, the
A web-based online system called Standardised Public GNPA which was brought down to Rs.33,267crores as on 31st
Grievances Redressal Mechanism (SPGRS) is in place, enabling December 2017 reached Rs.38,180 crores as on 31st March 18.
customers to lodge complaint online with status tracking facility. Hence, the first objective was to bring down the GNPA as on
As far as the internal mechanism, SPGRS has got number of 31st March 18 to at least Dec 2017 level. Hence, all the strategies
utilities / MIS to the Bank, like escalation Matrix, granular details were focussed mainly on Cash recovery and Upgradation
of the complaints are captured, enabling the Bank to take especially in Sole Banking Accounts and Consortium accounts
corrective action, to improve the services to the customers, where the Bank is a leader to make maximum Recovery to
and to analyse and evolve future course of actions and policies achieve the desired goal.
on grievances redressal. Complaint details are available on Hence, from the beginning of the FY 2018-19, the following
real time basis and access by various layer of offices leads to strategies were put forth to accelerate the growth under
effective redressal mechanism. Recovery front: -
Toll free Teleservices for lodging the complaints is available ¾ Revitalizing Regional Recovery Teams that have
round the clock – 24x7x365. Service provider also record and already been formed to work in tandem with Branch
push the services and requests to the Banks, leading to efficient Managers in the Clusters formed
services to the customers. ¾ The IOB Sahayak mobile app for assisting Field
Apart from SPGRS and Toll Free Tele Services, Bank also handles functionaries in reporting developments
complaints received from Banking Ombudsman, Reserve Bank ¾ Follow-up of SARFAESI action stage-wise
of India (Senior Supervisory Management and Department of
¾ Identification and declaration of willful defaulters
Banking Services), Ministry of Finance and other Ministries and
and Non Co-operative borrowers
Consumers’ Education and Protection Department of RBI, etc.
¾ Aggressive follow-up to ensure that full recovery is
Bank was adjudged as the Best Practitioner among the Public
effected in OTS sanctioned at all levels
Sector Banks for “Grievances Redressal Mechanism” in 2019
under EASE (Enhanced Access and Service Excellence) by the ¾ Submission of Second/Final claim to CGTMSE for
Indian Banks’ Association and Boston Consulting Group. All decreed/Lok Adalat settled accounts

49
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50
¾ Execution of RCs issued by DRTs in order to
increase recovery
¾ Sale to ARCs of other individual accounts on an
ongoing basis
¾ RDOs to pursue aggressively for NPA Recovery
¾ Pursue NCLT cases for quicker resolution by
ensuring active participation in CoC that decisions
are taken at the earliest
¾ Move early for Liquidation in NCLT in cases where
resolution is not possible so that we can pursue
legal proceedings against the guarantors
¾ Ensure Interim applications are filed in existing suits
seeking directions from DRT
o to the guarantors to declare their assets &
liabilities
o to Income Tax Office to forward copies of
IT & WT returns filed by the borrowers and
guarantor
o to the borrower/guarantors not to leave the
country without prior clearance from DRT
based on which branches shall write to
Passport & Immigration Offices enclosing
DRT order forbidding the defaulters from
leaving the country
o to the Debtors of the borrower/s
¾ Taking up with the Directors of the company
requesting them to prevail upon the borrower/
guarantors to pay-up
¾ Ensure 100% CIBIL entry for all defaulters
¾ Motivation, Support and Monitoring of field functions
through Video Conference and Task Force Meetings
¾ Daily Recovery Report mechanism
¾ Focused follow up by segregating accounts vertical
wise i.e., Retail, Agri and MSME (RAM). Remaining
accounts are classified into sole banking,
consortium accounts where we are leader and
consortium accounts where we are member and
following different strategies for these accounts.
¾ In respect of suit filed accounts, Bank has filed
various interim applications to build pressure on the
borrowers/ guarantors
¾ Special emphasis on recovery in accounts with 100
% provision
¾ Conduct of Task force meetings at all centres
headed by senior executives with NPA borrowers to
arrive at settlements
¾ Full utilization of Lok Adalats to arrive at settlements.
¾ Optimal utilization of Debt Recovery Agents for
recovery as well as assistance in SARFAESI actions
¾ Constant improvisation in functioning of NPA
War Room with development of various utilities
to assist field functionaries in recovery as well as
data analytics for providing vital inputs to Top
Management for developing strategies. NPA
recovery tools enabled in IOB Sahayak Mobile app
for all employees
51
¾ OTS proposals processing upto Zonal office level
sanction under Special OTS Scheme was made
online for speedy disposal and closure of account.
Also as a forward integration measure facility made
available to borrowers for submission through online
¾ Intensive focus on 16 specialized Asset Recovery
Management Branches (ARMB) to improve the
recovery under suit filed accounts
¾ Various campaigns like Spl. OTS campaign, 82nd
Foundation day OTS campaign, RC execution
campaign, Get 100 OTS campaign etc., to propel
the recovery in small value accounts
¾ Recovery under 10% Overdue category for
upgradation of accounts under all the segments
with more impetus in RAM
¾ Allotment of accounts to Branch Managers, RO/ZO
functionaries and CO executives for follow-up.
With all the concerted efforts, during the FY 2018-19 Bank made
the following Recovery under various components: -
Cash recovery : Rs. 4715 crores
Upgradation : Rs. 1452 crores
ARC Sale : Rs. 708 crores
Recovery in Technical written off accounts : Rs 1323 crores
Disposal of petitions received under RTI Act
RTI applications & appeals are handled by a separate and
specialized cell called RTI Cell in the Bank. The RTI Cell is
working under the control and supervision of Deputy General
Manager, who is designated Central Public Information Officer
(CPIO). Bank has also designated Regional Managers as
Central Assistant Public Information Officers (CAPIOs) to assist
CPIO in disposing RTI application within the prescribed time-
frame (i.e. 30 days from the receipt of RTI application). There
are 48 CAPIOs in our Bank.
Bank has designated General Manager, Law Department as
First Appellate Authority (FAA) for disposing appeal filed by
the appellants who were aggrieved with the reply of CPIO and
CAPIOs.
Bank has received 1,965 applications filed under RTI Act, 2005
for seeking information in the year 2018-19. All applications were
duly disposed in-conformity with the provision of RTI Act, 2005
and also within the prescribed time-frame (i.e. 30 days from the
receipt of RTI applications) by CPIO and CAPIOs respectively.
Bank has received 386 First Appeals from those who were not
satisfied with the reply of CPIO and CAPIO and the same have
been duly disposed by FAA by passing appropriate order on
merit and in-conformity with the provision of RTI Act, 2005. All
the appeals were disposed within the prescribed time-frame.
The appellant who were aggrieved with the reply of both CPIO
and FAA has preferred second appeal before Honorable
Central Information Commission, Delhi (herein after CIC). Bank
has received 35 summons for CIC hearing before Information
Commissioner. All the second appeal were duly disposed by
Information Commissioner by passing appropriate order on
merit, without any adverse remarks against the Bank, which
were duly complied by CPIO and CAPIOs respectively.
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52
Risk Management
Risk taking is an integral part of the banking business. Banks
assume various types of risks in its activities while providing
different kinds of services based on its risk appetite. Each
transaction that the Bank undertakes changes the risk profile
of the Bank. In the normal course of business, a bank is
exposed to various risks including Credit Risk, Market Risk and
Operational Risk. The objective of risk management is not to
prohibit or prevent risk taking activity, but to ensure that the
risks are consciously taken with full knowledge, clear purpose
and understanding so that it can be measured and mitigated.
By integrating Risk Management as a business protection
mechanism, it has been integrated with Banks business
model. With a view to managing such risks efficiently and
strengthening its risk management systems, the bank has put in
place various risk management measures and practices which
include policies, tools, techniques, monitoring mechanism and
management information systems (MIS).
The bank has set up appropriate risk management organization
structure in the bank. Risk Management Committee of the
Board (RMCB), a sub-committee of the Board, is constituted
which is responsible for management of all the risks in the
Bank. The bank has also constituted internal risk management
committees namely Credit Risk Management Committee
(CRMC) for managing credit risk, Asset Liability Management
Committee (ALCO) for managing Market Risk and Operational
Risk Management Committee (ORMC) for managing operational
risk, besides other committees’ like Information Security
Committee for managing Information security, Product/Process
Risk Mitigation Committee (PRMC) etc. Bank has commenced
the practice of Global ALCO where all the overseas centers
participate. A full-fledged Risk Management department is
functioning at the Bank’s Central Office, A Chief Risk Officer
in the rank of General Manager of the bank is in charge of
the department who is responsible for overall supervision of
risk management in the bank. Regional/Zonal Risk Managers
functioning at each Regional/Zonal Office have been assigned
the responsibility to work with RMD and the departments/
business groups to identify, analyse, explain and mitigate
various risk issues within their Region/Zone.
Bank has framed a Risk Appetite Statement covering the
major risks which the bank is exposed to. The Risk Appetite
metrics reporting is being done on a monthly basis to the Top
Management.
As a measure of robust Credit Risk Management process, Bank
has formulated Credit Risk Management Policy & Collateral
Management and Credit Risk Mitigation Policy. Bank has put in
place a Risk Assessment Model (RAM) to rate accounts under
various segments. The RAM model was updated in June-18
to incorporate the best risk management practices. Further,
Bank procured 7 more models for appropriate assessment
of borrower risk. Rating has been made compulsory based
on the Audited Balance sheet of the Borrower. Bank has also
introduced the concept of “Dynamic Rating, which is based
on certain triggers. Realizing the focus on Retail, Agriculture
and MSME (RAM) growth as strategy, Bank introduced Retail
Scoring Model on 1st January 2017 and integrated with on-line
loan processing. The rating validation is independent of credit
departments.
53
The basic approach to manage risk more effectively lies with
controlling the risk at the point of its origination. Hence, all
credit proposal sanctioned at CO level are routed through
Risk Management Department for risk evaluation of the same.
The Risk Management Department of the Bank is monitoring
the working capital limits on a weekly basis for all borrowers
enjoying WC Limits (FB+NFB) above Rs 100 crores. The
department is monitoring the utilization of limit on a weekly
basis along with the variation in FB & NFB outstanding between
the two consecutive weeks.
As per RBI’s requirement, the Bank has put in place a Board
approved Policy on Internal Capital Adequacy Assessment
Process (ICAAP) to address Pillar II requirements. This policy
aims at assessing all material risks to which the bank is exposed
to over and above the regulatory prescriptions under the first
pillar risks, and ensuring adequate capital structure to meet the
requirements on an ongoing basis.
The Bank has put in place Board approved Market Risk
Management Policy and Asset Liability Management Policy for
effective management of Market Risk, Liquidity Risk and Interest
Rate Risk. The Liquidity Risk is managed through gap analysis
based on residual maturity/behavioral pattern of assets and
liabilities on a daily basis. The policies set various risk limits
for effective management of market risk and to ensure that the
operations are in line with the Bank’s expectation of return to
market risk through proper Asset Liability Management (ALM).
The Bank has formulated a “Stress Testing framework” to assess
the potential vulnerability of the organization to exceptional
but plausible events in line with the guidelines issued by RBI
on 2nd December 2013. Stress testing and scenario analysis,
particularly in respect of the bank’s material risk exposure,
enable identification of potential risks inherent in a portfolio
at times of economic recession and accordingly take suitable
proactive steps to address the same. In accordance with the
policy prescriptions, the bank carries out various stress tests on
bank’s balance sheet periodically and on specific portfolios and
places the reports to ALCO / RMCB / Board.
Board approved Business Continuity Plan and Disaster
Recovery plan is in place. The 3-way data centers have been
implemented to facilitate Zero data loss, Multiple MPLS-VPN
high bandwidth connections at all 3 data Centres. Central,
Dual connectivity from different alternate service/alternate
providers and alternate media for branches have also been
established. Firewall and Intrusion detection systems have been
implemented. A Security Operating Centre (SOC) has been
established by the Information System Security Department
to monitor and analyse the information security incidents to
take corrective steps while IS Audit section takes care of the
periodical Information Systems Audit of the Bank’s departments
and branches. The bank has fine-tuned the information security
systems in accordance with RBI guidelines. Regular DR drills
are being conducted every quarter. To ensure Network security,
periodical Vulnerability assessment and Penetration testing
exercise are conducted by external experts.
To have a better operational risk culture, Bank facilitated all
Regional Offices / Zonal Offices to monitor the branches under
their control, through a system driven report which is generated
and provided on a daily basis by fixing an alert level for variance
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on each business parameter when compared to the previous
day business. Bank also analyses various frauds occurred and
identify the gaps and various mitigation measures are initiated,
besides the branches are sensitized by highlighting corrective
measures to prevent their recurrence and making systemic
changes, if required.
Bank has framed a detailed framework for introduction of new
products, modification of new products/services etc. Risk
Assessment is being done by RMD, for each new product
before products are released in the market. Each new product/
new process, modification of product/process is routed through
Product/Process Risk Mitigation Committee (PRMC) which
comprises of officials of various departments like RMD, ITD,
Compliance, Inspection, ISSD, etc. The Committee evaluates
all the risk aspects viz operational risk, credit risk and interest
rate risk in the proposed new product/new process.
The Bank is also in the process of upgrading its risk management
systems and procedure for migrating to the advanced
approaches envisaged under Basel II framework.
Bank is having robust Risk Management Structure to
encompass the general awareness of Risk Culture within the
Organisation. All the layers of Organisation Structure are having
different role functions to make the Bank as a Risk compliant
one. Bank is having a strong “risk culture” and risk has been
actively managed by the Bank.
Credit Monitoring
Considering the fact that turnaround of the bank is possible
only by controlling slippages, Bank has implemented several
strategies for follow-up and recovery of SMA accounts and for
closer monitoring of credit to ensure that slippages are kept at
the minimum possible levels.
The measures introduced and continuing during FY 2018-19
for effective monitoring of accounts are highlighted below:
¾ As a part of On-line monitoring of SMA accounts
Branches are continuing to monitor SMA accounts
under the Red to Green Drive, wherein the SMA
2 accounts depicted in RED for any branch turns
GREEN in colour when recovery is made.
¾ SMA and System Identified Projected
Slippage(SINPA) for the month is generated on
the first day of every month and made available to
all the Staff for follow-up.
¾ Corporate GMs under the concept of Guardian
GMs are allocated Zone-wise System Identified
Projected Slippage accounts of outstanding Rs.50
lakhs and above for follow-up on a daily basis.
¾ The Special Mention Accounts (SMA) portal
available provides data on all SMA Accounts,
details of age profile and daily recovery status. All
SMA accounts allotted to all Staff members of the
branches are being monitored by Branches/RO/ZO
and CO on a daily basis.
¾ SMA 0 and SMA 1 accounts to Zero Level
Campaign is being held from September 2018
wherein branches that bring the SMA 0 and SMA
1 accounts out of SMA status as on the 10th of
55
every month are being recognized and certificate of
appreciation signed by General Manager is being
awarded to each staff of such branches.
¾ SMS Alerts to SMA borrowers are sent at regular
frequencies. Besides SMS Alerts are also sent to all
the staff of Branches for follow-up.
¾ SMA Borrowers not responding to telephonic
follow-up within 15 days are followed up through
personal visits.
¾ SMA accounts with the outstanding of Rs.50 lakhs
and above are being reviewed every month by
GMs committee at C.O.
¾ SMA accounts of overseas Branches are also
reviewed by GMs Committee on a monthly basis.
¾ System generated Letters to SMA borrowers
are sent every month, mentioning overdues and
requesting early regularization.
¾ Follow up for recovery in SMA/SINPA accounts
also done by Visually impaired Staff operated
Call Centres with the help of JAWS(Job Access
With Speech) programme from some of the
Regional Offices and Centrally located Call
Centre(Outsourced) for Retail accounts (selective
schemes) with outstanding of less than Rs.1.crore.
¾ System generated Reports of certain Early
Warning Signals, like Continuous Excess, Frequent
Cheque returns, Frequent Adhocs, Cash Withdrawal
of more than 15% of the Limit etc are available for
Branches/ROs/ZOs to take corrective action.
¾ On-line capturing of certain Early Warning
Signals (EWS) and Report on Non-Financial Issues
prompting slippages/Red Flagging of Accounts are
done from Central office. The EWS on-line Reporting
covers 41 parameters of which 12 parameters are
auto-captured by the system from CBS. The EWS
system is well established with a maker checker
rule and escalation procedures.
¾ Credit Compliance Audit is done for accounts with
an exposure of Rs.50 lakhs and above for domestic
accounts and for accounts with exposure Rs.1
crore and above for overseas accounts. Audit is
done every year. The Audit report format is recently
revised to classify the Account as Low/Moderate/
High Risk.
¾ Zonal Credit Monitoring Department headed
by AGMs have started functioning since May
2018 with well -defined role functions to ensure
that monitoring of credit begins from the point of
disbursement.
¾ Stock Audit procedures have been strengthened
for all accounts with working capital facilities Rs.5
crores and above, Regular Review Notes on Stock
audit is being placed to the GMs Committee at
Central Office and observations of the Committee
are being advised to RO/ZO/Branches.
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56
 ¾ Several circulars have been issued as guidelines
for better Credit administration and on Early
Warning Signals and Red Flagging of accounts to
support the field functionaries in monitoring Credit.
¾ Training is being imparted to increased number
of officers to equip them to handle Credit proposals
more prudently.
By adopting the above measures the Bank has
been able to administer better control on its
slippages for FY 2018-19 and maximize recovery
and regularization of Special Mention Accounts.
Loan Review Mechanism
In line with RBI’s guidance note on Credit Risk, a more robust and
exhaustive Credit Audit Mechanism called Credit Compliance
Audit has been introduced in place of existing CALRM Audit.
This Credit Compliance Audit is on site audit conducted by the
respective concurrent auditors. The auditors have to verify right
from pre sanction, processing, documentation, disbursement
and follow up. The auditors have to fill up a detailed format
with CCA risk scoring. This format has 10 parameters with 115
questions with a maximum of score of 1,134. The accounts will
be graded as low; moderate and high risk accounts according
to its scores. Appropriate review and follow up actions are also
proposed. The threshold limit of Rs. 50 lakh for Domestic and
Rs.1 crore for Overseas accounts are covered under CCA.
Besides 2% of the accounts between Rs.25 lakh to Rs.50 lakh
are also being covered. The Audit Committee of the Board will
be apprised half yearly about the position of the accounts of
Rs.25 crores and above.
Compliance
The Bank has well defined Compliance Policy as per Reserve
Bank of India guidelines and has in place systems and
procedures for effectively managing compliance functions.
Necessary circulars/instructions on the regulatory guidelines
are being issued.
The Bank has provided a Web Portal viz., Knowledge
Management Tool in Bank’s intranet wherein all the regulations,
guidelines of the various regulators can be accessed at a single
point.
The Bank has implemented the Cermo+ for departments
to certify regarding adherence to regulatory guidelines and
TasC+ for follow-up with submission of returns and replies to
correspondence from regulators.
The Bank has in-house developed module for SACC (Self
Assessment Compliance Certificate by Branches) to oversee
the Compliance implementation at Branch level and PVRO
(Physical Verification of Compliance by Regional Offices) to
oversee that all the Compliance points are implemented in the
Branches under the supervision of Regional Office.
Each Branch/Regional Office/Zonal Office/Central Office
department has one Compliance Officer who submits compliance
certificates. The overall compliance level is submitted to Board/
Audit Committee of the Board on quarterly basis.
Disciplinary Proceedings
During the Financial Year 2018-19 due to effective steps taken for
disposal of disciplinary cases, 362 cases have been disposed
57
off, comprising of 193 Vigilance and 169 Non-Vigilance cases.
During the year under review, the Bank issued 416 charge
sheets.
The disciplinary proceedings are in various stages of progress
in respect of 179 cases as on 31st March 2019. Efforts are made
to complete the disciplinary proceedings within the stipulated
time frame, by continuous review by Executives.
All long outstanding vigilance disciplinary cases, where
domestic enquiry was in progress as on 30th September 2018
were completed before 31st March 2019 (Except 2 cases which
are pending with Courts)
As on March 2019, there are 275 Vigilance cases pending, of
which 20 cases are pending beyond 18 months and there are
only 6 CVC cases pending beyond 18 months as on 31st March
2019.
The New Package- IOB VIGIL, which was developed for
computerization of all disciplinary proceedings on end to end
basis is made online.
Inspection
During the year, audit points in the Risk Based Internal Audit
(Internal Inspection) were revisited and revised to reflect the
present circulars and guidelines in force. To improve the
compliance level on audit observations, the audit package
was modified and for non-compliance of Zero Tolerance areas,
negative marks were awarded, which affects final risk rating of
the unit. Offsite Control and Surveillance (OCAS) alerts were
increased to cover more areas of control mechanism.
To enhance efficiency of the functioning of the Bank with
structured way of approach in each activity, Standard Operating
Procedure is revisited regularly on various activities viz., Stock
Audit, Forensic Audit, Income Leakage, functioning of audit
offices/departments etc. The revised approach had resulted
in improvement on various functions like substantial reduction
in pending of Income Leakage at Branch level, RBIA reports
for pending final closure is less than four months, OCAS alerts
pending for reply were reduced substantially.
During the year, functional audit at ITD was commenced with the
objective of ensuring that the parameter set in FINACLE matches
with circular/guidelines and also the output on execution
provides desired results. The findings have resulted in elimination
of anomalies/errors at operational level and achievement of
compliance to Central Office/regulatory guidelines.
The Bank has selected 397 branches for conducting concurrent
audit having coverage of 50.13% in deposits and 66.61% on total
advances. The software procured (‘eTHIC package’) for online
report submission of concurrent audit system was implemented
during the year. The Bank conducted workshops to concurrent
auditors at various zones in order to provide orientation. The
Bank has issued ‘Concurrent Audit Manual’ to guide Concurrent
Auditors while conducting Branch Audits. The online package
facilitates future integration of reporting under RBIA (Internal
Inspection) and Concurrent audit with avoidance of duplication
of reporting aspects and improving the risk assessment.
The Bank appointed Retired Officers for conducting Internal
Audit, in line with guidelines issued by Reserve Bank of India.
There are 73 Empaneled Retired Officers (ERO) deployed at
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58
various centres for conducting audit. These EROs, apart from
identifying deficiencies, guide and provide support to the staff
members for rectification.
The Bank had redesigned and implemented the conduct of Risk
Based Management Audit of all units. The audit shall assess
efficacy of management functions at all units and suggest action
plans to overcome any shortcomings/gaps identified.
Audit Committee of Executives (ACE) meeting is being held
on monthly basis since June’ 2017 and 10 meetings were held
during the year. During the year, standardized agenda was
introduced in order to cover all control areas of the Bank. The
minutes of ACE meetings were appraised to Audit Committee
of the Board.
During the year, Offsite Monitoring Unit was established and
commenced generation of exception reports. The reports were
shared with Branches/Regions/Zones for compliance. The
results of the reports is shared with Zonal Audit Offices in order
to provide pre-audit information and resources of onsite audit
are expected to reduce and the quality of audit enhances.
CBS operations are continuously audited by external Information
Systems Audit firm. In order to strengthen Information System
(IS) Audit, the Bank has appointed 8 IS Auditors. They were
given training on General Banking and IS Audit environments.
These IS Auditors have commenced conducting of critical
Central Office applications as per the Audit Plan.
Vigilance
During the Year 2018-19, the Bank continued to take effective
steps for disposal of pending Vigilance Disciplinary cases with in
the time schedule prescribed by Central Vigilance Commission.
Punitive Vigilance: Turnaround Time for Vigilance cases has
reduced from 211 to 72 days. 193 Vigilance Disciplinary cases
were disposed and penalties awarded during the year. All
staff accountability reports involving Rs.1 crore and above are
scrutinised to ensure that the process of examination of Staff
Accountability is conducted as per norms without any dilution
of laid down guidelines.
Predictive Vigilance: CO inspection reports, Audit reports of all
the high and medium risk branches for the years 2018-19 are
scrutinized on a real time basis and cognizance of incidents of
Vigilance angle were brought on record for appropriate action
by bank.
The important Preventive Vigilance initiatives taken during the
year 2018-19 are as under:
¾ Jagrithi, an initiative to create and refresh the
awareness levels of the staff in various sensitive
areas through objective type questions displayed on
the desk top of every computer monitor in the bank.
¾ E – Integrity Pledge – Through a new initiative of
E – Integrity Pledge process of obtaining Integrity
Pledge was integrated with Core Banking Solutions
59
of the Bank facilitating collecting the required data of
the customer who is taking integrity pledge directly
from the CBS. As many as 4.85 lakhs customers/
citizens had taken integrity pledge as on 31st March
2019.
¾ An online utility has been introduced in the Bank to
improve transparency in One Time Settlements of
NPAs.
¾ In the year 2018, six SOPs (Standard Operating
Procedures) have been issued by the Bank in
the area of consortium lending, mobilizing CASA
(Current Deposit and Savings Accounts), Scrutiny
of Legal Opinions and mortgages, Reimbursement
of write off amount to Branches etc.
¾ Provision for real time reporting of surprise visits
to branches was made available for Vigilance
functionaries in branches.
¾ Facility for Online processing of SME & KCC was
introduced in the bank.
¾ Vigilance Department is giving Alertness Award to
the staff members who by their exemplary alertness
and vigil averted perpetration of frauds on the bank.
Vigilance Excellence Award -2018:
MD & CEO, & CVO had received CVCs Vigilance Excellence
award for the year 2018 for Excellent contribution in the category
of Vigilance innovation.
Information Technology
Bank has leveraged technology and has rolled out several
digital products for ease of banking. This includes:
Technology for Customer Service:
Retails and MSME proposals are digitised end-to-end from
sourcing of application to processing, documenting and
disbursal. Facility for tracking of application is also enabled for
customers to track from the comfort of their home/office.
Customer Service is a top priority for the Bank and it has
leveraged technology to make it easier for the customer to have
the grievances addressed. Standardised Grievance Redressal
System (SPGRS), a centralised solution which enables
customers and Bank staff to lodge and track all complaints is
made operational. It integrates complaint of customers received
through Internet, Branch, Central Office, Call Centres and Phone
in a single platform, ensuring no complaint is left unresolved. This
has been acknowledged as “Best Practise” for all Public Sector
Banks (PSBs) to follow, under EASE Reform Program for PSBs.
Internet / Mobile Platform:
Nine additional features were added in Internet Banking. The
mobile banking platform, “IOB-Mobile”, has been upgraded to
have a youthful look and feel with enhanced features.
The “IOB-Nanban” application has rich features for both
customers and non-customers. This enables downloading of
Interest Certificates
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60
An application devised for internal staff, “Sahayak” was launched
facilitating following up with NPA borrowers and tracking the
performance of the staff in such follow up. The application
facilitates recording of unit visit / security inspections and also
captures the geo-location coordinates.
One-Time Settlement:
An online processing of One-Time Settlement of NPA borrowal
accounts in a transparent manner was developed in-house.
The application includes the logic for processing the settlement
amount based on various parameters.
Engagement of Experts:
Bank has roped in experts from the industry to strengthen the
technology decision making process. M/s IDRBT was engaged
during the year as IT Consultants for the Bank. The Bank had
also engaged IIT, Madras to be part of the interview panel for
recruiting Information System Auditors and Information Security
professionals.
Compliance Management:
Bank has introduced a tracking system for all regulatory
compliance, thus ensuring good governance.
Core Banking Solution
All the overseas branches were migrated to Finacle Core Baking
System, enabling Bank to have all its Core Banking System in
a centralised location. This also enables faster data collection /
analysis.
The CBS application was customised to prevent revenue
leakage by automating collection of various charges.
Treasury Application for Overseas Branches:
An in-house application was developed for the treasury
operations of the four overseas centres.
Network Availability:
Bank has upgraded the network on a continuous basis.
Redundancy of links is provided to all branches. The network
availability has been continuously maintained at over 99.80%.
Information Technology Infrastructure Library (ITIL)
Implementation
Bank has framed several Policies for niche areas, developed
processes and templates to ensure sustainability and quality
across the phases of Information Technology Life Cycle by
adapting to the internationally recognized best practices of
Information Technology Infrastructure Library (ITIL).
Digital Banking
ATM & Cash Recyclers:
The total number of ATMs/Cash Recyclers of the Bank stood at
3,450 on 31st March 2019 as against 3,552 on 31st March 2018.
During the year 1,404 Branch managed ATMs/ Cash recycler
were added by replacing vendor managed sites and closure of
low hit sites. ATM transactions have improved by 20% from 6.98
crore to 8.42 crore due to improved ATM uptime monitoring.
Voice guidance for visually challenged introduced in all new
machines.
61
Debit Cards:
Bank card base improved to 165 lakhs from 149 lakhs during
the Financial Year. 58.08 lakh EMV chip cards were issued or
migrated, with a monthly average of 4.84 lakh cards. All active
cards have been migrated from Magstrip to EMV.
Bank has issued 42.15 lakh Rupay Debit Cards either as fresh
card or as migration from Magstrip to EMV card during the year.
Bank is giving more thrust for issuance of Rupay cards issued
by NPCI.
To promote the one nation one card Bank has completed
certification of National Common Mobility Card with NPCI for
both domestic and international usage. Bank was the first Bank
in the industry to be certified on International Platform for NCMC
qSparc card. Commercial rollout of NCMC card and upgrading
acquiring segment is planned this year.
Payment Gateway Operations:
Bank has 11 aggregators who have nearly 12,000 sub-merchants
under their banner including public sector organizations like
BSNL, LIC of India etc. The Bank’s direct clients include State
Government Enterprises & Educational Institutions.
RTGS/NEFT:
Based on feedback from Customers and Branches, various
updates were done in IOB RTGS/NEFT module to meet their
needs/requirement. Positive response message system for
inward NEFT introduced to improve customer experience.
Internet Banking/Mobile Banking:
The internet banking registrations grew from 15.52 lakh to 19.25
lakh while mobile banking registrations grew by 241% from
6.62 lakh customer to 16 lakh customers. New user interface
of mobile banking application with flavour of four additional
languages was accepted well by the customers.
BHIM & BHIM IOBUPI:
Bharat Interface for Money (BHIM) application, which has been
launched during 2016-17 to make direct ‘customer to customer’
and merchant payments across the Banks instantly and to collect
money using just Mobile number or Payment address, has been
instantly adopted. BHIM IOBUPI is the application launched by
the Bank using Unified Payment Interface. Registration grew
from 8.11 lakh to 28.50 lakh, transactions have surged to new
heights touching 110.56 lakh in March 2019.
IOB-Pay:
The in-house developed integrated online payment gateway
platform offers fee payments, merchant payments, donations for
charitable institutions etc. More than 100 Institutions have been
registered in this application and this include TNHRCE, IENS.
BBPS:
Bank has launched Bharat Bill Payment System (BBPS), an
integrated bill payment system, which offers interoperable
bill payment service to customers online. For BBPS, IOB has
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62
integrated as Customer Operating Unit (COU) in March 2017
and as Biller Operating Unit (BOU), we were first Public Sector
Bank to onboard electricity utility with TNEB as biller.
Credit Cards:
Bank has partnered with VISA International Credit Card to
introduce credit card way back in 2006. Automation of card
application process has improved TAT and card base has
grown by 30%.
Accolades:
¾ Bank received special award from NPCI in
recognition of excellent performance in Rupay, NFS
ATM network, CTS and NACH.
¾ Bank was adjudged winner under Deepening
Financial Inclusion and Digitalization category in
EASE Banking Reforms Awards 2019.
Management Information System
Bank has implemented a robust Management Information
System (MIS) and Decision Support System to handle Reporting
and analytical requirements of the Bank apart from ensuring
flow of data to User Departments for submission of various
statutory and ad-hoc reports.
Oracle Business Intelligence (BI), an analytical tool deployed
by the bank provides around 500 reports, Data Mining and
analytics accessed by Top Management, Controlling Offices
and Branches through our intranet IOB Online. The tool has
been utilized by the In-house team of MIS for development
and deployment of Reports, Graphs, What-if analysis, Data
Mining, Ad-hoc Reports based on user requirements. The tool
is effectively used for various purposes such as Performance
Monitoring, Regulatory Reporting, Analysis of historical data,
Follow up of campaigns etc. Some of the major activities of MIS
are furnished below:
¾ Analytics developed for Cross Sell and
Upsell, Customer Acquisition and Campaign
Management-Wallet Share: Bank introduced
Wallet Share Concept and this was driving product
base enhancement, customer acquisition and Cross
selling. This product, developed in-house with BI
has been deployed across the Bank accessible
by Central/Zonal/Regional/Branch Offices and
extensively put to use for analyzing past tends and
to initiate measures for improving business. 15 new
Wallet Share themes were introduced in the FY
2018-19 and out of the 21.76 lacs leads generated,
business conversion happened in respect of 1.65
lacs leads.
¾ SMA Predictive Analysis: Based on the historical
data of SMA accounts, Reports were developed
revealing the pattern in frequency of occurrence of
each category of SMA. Thus high risk customers
are identified at Branch/ RO level and Monitoring
mechanism of these customers has been
strengthened.
63
¾ ATM Heat Map for monitoring ATM downtime
and Hits: To analyze the ATM performance across
Zones/Regions and to effectively maintain a high
level of ATM availability/uptime, ATM Heat Map was
developed and made available on a daily basis to
branches. Each ATM’s transaction and its Uptime
data are analyzed on a daily / Fortnightly /Monthly
basis. All ATMs were categorized based on the hits
and its uptime and low hit ATMs were followed up to
improve the Hits and reduce downtime.
¾ Other routine activities performed by MISD
include providing Daily business figures, List of
Accounts opened and closed, daily sanctions
and disbursements made under each sector, KYC
Related Reports, Excess cash Reports, Data Quality
Monitoring Reports, Jewel Loan Performance
Report, Comprehensive Branch profile, Report
for SMA monitoring, MIS Reports on Advances,
Financial Inclusion Reports, Digital registrations
and transaction monitoring reports, Reports on
projected slippages, Monthly performance ranking
of Branches, Weekly and Monthly Cibil data
generation, Providing reports on Cibil rejected list,
Data to NESL in respect of Corporate borrowers,
providing Data dumps to CO Departments,
Data Dumps to RBI, providing Data in respect of
Parliamentary Questions, EASE Data points etc.
Bank has been adjudged the ‘WINNER’ in the category of
the Best Use of Data and Analytics for Business Outcome
amongst Medium Banks by Indian Banks’ Association in the
IBA Banking Technology Conference, Expo & Awards 2019
held in Mumbai on 20th February 2019. Bank has been awarded
in recognition of the best use of data and usage of Analytics
products developed by the Bank for Business outcome. The
following products were projected for the award:
¾ Use of Analytics for Cross Sell and Upsell, Customer
Acquisition and Campaign Management
¾ SMA predictive Analysis.
¾ ATM Heat Map for monitoring ATM downtime and
Hits
¾ Acquiring new MSME customers using Analytics
¾ Effective Use of Analytics in Digital Payments and
Services
Government Accounts
Direct Tax Collections: The Bank is authorized to collect
Income Tax and other Direct taxes in physical mode and
through On Line Tax Accounting System (OLTAS) by 354
branches all over India. The Bank is also authorized to receive
e-payment of Direct Taxes. During the year under review, the
bank has handled transactions amounting to Rs. 9244 crores
and earned commission of Rs.1.84 Crores.
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64
Indirect Tax Collections: The Bank is authorized to receive
e-payment of Excise and Service Tax, E-payment of Customs
Duty and e-refunds of Duty Drawback. After the advent of GST,
all our branches have been enabled for collection of GST. During
the year the Bank has handled transactions amounting to Rs.
14,186 crores and earned commission of Rs.1.26 crores.
Centralised Pension Processing Centre
Payment of Pension: The bank is servicing 2.25 lacs pensioners
belonging to Central Civil, Defence, Railways, Telecom, State
Civil, EPFO, CMPFO, TNEB, Chennai Port Trust, Chennai Dock
Labour Board, Local Fund Audit of Tamil Nadu and Malaysian
Government Pension apart from credit through ECS.
Centralised Pension Processing Centre disburses pension on a
centralised basis to Central Civil, Defence, Railway and Telecom
Pensioners for 65,212 accounts. The Bank has disbursed about
Rs. 1,620 crores during the year and received reimbursement
under scheme for Central Civil, Defence, Railway and Telecom
Pensions within 2-3 days from the date of disbursement. During
the year bank has earned commission of Rs. 5.23 crores.
Bank also handles Treasury Business of the Government of
Tamil Nadu at 17 branches with the turnover of Rs. 2,356.72
crores of receipts and payments. Bank services the account of
Planning Commission and Department of Telecommunications
and handled receipts and payments of Rs.151.01 crores and
Rs.458.65 crores respectively. Post Office Collection (Drawing
and Deposit) Account is maintained at 70 branches in Tamil
Nadu handling receipts and payments of Rs.196.56 crores.
Bank has been actively participating in the Government of India
Savings Schemes like Senior Citizens Savings Scheme 2004,
Public Provident Fund and Sukanya Samriddhi Yojana schemes
and have contributed subscriptions of about Rs. 793.20 crores.
Sovereign Gold Bond Scheme: During the year Bank has
collected Rs.16.70 crores and earned an income of Rs.0.17
crores.
National Pension System: 3,270 branches have been enabled
for subscription of NPS. During the year branches have opened
1400 NPS.
Export Credit-ECGC coverage
WT-PC/ WT-PS – Corporate Bank Guarantee in lieu of Advance
Premium to ECGC for the year 2018-19:
Yesteryears, all our Pre-shipment/Post shipment Export
Advances (excluding LC Bills) are covered with one month
advance premium payment.
Now, our Bank has chosen Bank Guarantee which promoted
following advantages.
¾ Banks need not part with funds and keep as deposit
with ECGC.
¾ Bank Branch need not have to monitor the
requirement of Advance Premium, periodically.
¾ Claim may not be repudiated for want of Advance
Premium.
¾ Outlay of advance premium paid cannot be
determined and also cannot be appropriated at any
point of time.
65
¾ Avoid the possibility of obscurity to remit one month
advance premium for new connections.
Human Resources Development
Recruitment & Staff strength
The Bank’s staff strength stood at 26,354 Comprising 14,186
Officers, 9521 Clerks and 2647 Sub-staff as of 31st March, 2019.
¾ During the year 2018 – 2019, the Bank has initiated
for recruitment of 20 Specialist Officers for the post
Information Security and Information System Audit
(in Scale II & III). 20 candidates were selected for
the identified 20 posts out of which 13 candidates
joined in Bank’s services.
¾ Further, Contract Recruitment has been done for the
post of Faculty for Staff College, Chennai (02) and
as of 31st March 2019 six (06) Faculty (on contract)
are there in Bank’s Staff College.
Of the total staff strength, 5,224 members belonged to SC
category, 1,866 to ST Category, and 7,255 to OBC Category.
Staff Strength includes 8,983 Women employees, 1,036 Ex-
servicemen and 499 physically challenged members.
Succession Planning:
To ensure leadership continuity and develop potential
successors, succession planning process was initiated. The First
phase started with the identification of critical positions in the
bank and identifying potential successors. The Critical positions
have been identified on the basis of the risk perceptions at each
department as well as taking into account the replacement
required. For every position, three successors to be identified
and trained for placing them at identified critical positions/
departments and to be in line with succession planning.
Capacity Building:
In order to plan the succession and equip the identified officers
for identified critical positions, Bank has drawn a Policy on
“Capacity Building” in tune with RBI guidelines to build up the
capacity of the staff members. In this regard, bank has identified
the following accredited institutes namely Indian Institute of
Banking & Finance (IIBF), Mumbai, National Institute of Banking
Management (NIBM), Pune, Moody’s Analytics, NISM, NSEIT –
UIDAI Certification, ISACA - CISA Certification who are providing
certifications for the identified areas of Treasury Operations,
Foreign Exchange, Credit Management, Risk Management,
Accounting & Audit Management, Financial Inclusion, KYC/ AML,
Compliance including Legal aspects, Cyber Security, Wealth
Management and Marketing of third party Retail products.
Staff members have been advised to obtain the certifications in
those areas in order to build up the capacity in the Bank. As a
part of motivational measure, Bank is reimbursing the course
fees for all the identified certifications under capacity building
and also giving due weightage for the same in the Promotion
process.
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66
Mentorship Program: The most common benefits accrue from the scheme would be on
In order to bridge the knowledge gap, retain employees, develop account of improvement in staff morale, better job satisfaction,
leadership and succession planning, Bank has introduced creating a feeling of ownership, building team spirit, reduction
“Mentorship Program”. of cost and improvement in profitability, increase in revenue and
improved customer satisfaction.
Mentoring is a professional relationship in which an experienced
person assists in the development of a less experienced person The suggestions are placed to a Committee of GMs, for scrutiny
towards acquiring specific skills and broadening knowledge and selection of best suggestions. These best suggestions will
base. It is an ongoing process through which a mentor aids, be forwarded to respective General Managers, to be considered
instructs and guides his mentees for their professional and for implementation.
personal growth. Bank will issue a “Certificate of Appreciation” signed by ED for
The mentor does not evaluate the mentee with respect to his or the top 2 best suggestions and by GM (HR) for the remaining
her current job, nor does he conduct performance reviews of best suggestions. For all the implemented suggestions, staff
the mentee. Instead the mentor motivates, encourages by being members will receive a “Certificate of Appreciation” signed by
enthusiastic, creative, patient and goal oriented. MD & CEO.
The process of mentoring enables the mentees to increase Also, the best suggestions as well as the implemented
their self confidence and self-esteem, enhancing the work- life suggestions will be displayed in “IOB ONLINE” – under “Staff
balance and reducing the stress levels. It will also help the Achievement” and will also be available permanently in the “All
organization in improving productivity, quality of work and better Ideas Matter” Module.
customer service by increased employee commitment. Promotions:
In the Bank, an online Portal/Questionnaire is created through Promotions were given to staff members from one cadre to next
which the feedback of mentor- mentee interactions would cadre. The details are tabled as under:
be recorded by the mentor and would be reviewed by HR
department. Based on the analysis of the feedback collected, Grade FY 2018 - 19
required support such as training, resources etc. would be Completion of Promotion process – Time line May 2018
provided to groom/enhance the performance of the mentee. TM VI TO TM VII 7
The FAQs for the reference of mentor and mentee and the SM V TO TM VI 24
questionnaire are also made available in the portal.
SM IV TO SM V 63
Ethics Policy: MM III TO SM IV 90
Bank has introduced “Ethics policy” covering all the employees MM II TO MM III 136
of the Bank, to create a culture of cooperation among the
JM I TO MM II 248
employees in respect of public conduct, communications with
the Bank, interactions with external entities including the media CLERICAL TO JM I 287
and dealing with colleagues. The policy defines the standards SUBSTAFF TO CLERICAL 68
of the conduct that is expected of all employees in order that the Total 923
right decisions are taken in performing roles and responsibilities
Other initiatives:
across various functions in the Bank.
Bank, in coordination with external agency conducted health
For implementation of the said policy, a Standard Operating
awareness sessions by medical professionals on issues such
Procedure (SOP) has been adopted wherein online affirmation as Eye care, etc.
from all the employees confirming adherence to the code of
conduct (as detailed in the Ethics policy) is obtained on annual Training:
basis. Keeping in view the corporate goal of making the bank a
All Ideas Matter (AIM) – Unleash your Ideas – Staff customer centric, training has been imparted on contemporary
issues of banking apart from basic areas of banking through the
Suggestion Scheme
internal and external mode.
The captioned staff suggestion scheme has been modified and
Apart from the above, regular training on Banking topics
revived with effect from 1st January 2018.
have been imparted to officers and clerks in the field of Credit
Ideas / suggestions pertaining 13 broad areas like Improving Appraisal/ Credit Monitoring, Small & Medium Enterprises
Customer Service, Increasing Profit, Improving Brand Image, Financing, Vigilance. Also Programmes for First Line and
Increasing Income, Improving Retail, Agriculture & MSME Second line managers were conducted for all staff members at
Portfolio, Improving existing Digital Banking products, Improving Staff College and various Staff Training Centers.
Recovery, Arresting Slippages, Increasing operational Special Training Programmes on Financial Inclusion and
efficiency, Increasing Staff Productivity, Innovation in Products issuance of multi travel prepaid card were conducted during the
& Preventing frauds have been invited from all staff members. year.

67
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68
Pre confirmation programme for Probationary Officers, Pre various Staff Training Centers. The Pre-Retirement counseling
Promotion Training for SC/ST members who are eligible for programme was conducted for Officers and Award Staff
promotion from Sub Staff to Clerical cadre, Clerk to JMGS I, Members who retired during the year.
JMGS I to MMGS II and MMGS II to MMGS III was conducted at

Internal Training
Bank’s internal training system comprises of 1 Staff College, 11 Staff Training Centers and 1 Rural Banking Training Centre. The
details of Internal Trainings imparted for the FY 2018 – 19 is furnished hereunder:

Particulars Officers
Training imparted to Individual Staff member
9738
(irrespective of no. of trainings attended)
Training imparted during FY 2018 - 19 (based on
12419
total no. of trainings attended by members)
External Training
Bank deputed 995 Executives/ Officers for training programs
conducted by reputed external institutes like TISS, Mumbai ,
BQ Global , Mumbai ASCI, Hyderabad, CAFRAL, Mumbai;
IIB&F, Mumbai; NIBM, Pune; National Academy of RUDSETI,
Bangalore; CAB, Pune; IDRBT, Hyderabad etc.
Industrial Relations
The Industrial relations environment in the Bank remained
cordial and conducive throughout the year for achieving
organization’s objectives.
The guidelines issued by the Ministry of Finance and Indian
Banks Association with regard to staff matters are implemented
expeditiously by issuing circulars for the benefit of our
employees.
In order to monitor and maintain good Industrial Relations
climate in all offices/Branches of the Bank, circulars/ guidelines
are issued from time to time regarding enforcement of discipline,
policies to be followed, etc.
HRMD-IR Section, Central Office enters into settlement with the
recognized union for award staff, regarding promotion, transfer,
benefits, etc. to redress the grievances of employees/Officers
through discussions with Unions/Associations.
Action is taken against staff members against whom complaints/
matters pertaining to IR matters are reported to enforce discipline
SC (Out of ST (Out of
Clerical Substaff Total
Total) Total)
5964 745 16447 1686 1046
6664 791 19874 3769 1885
and harmonious industrial relations in the Bank.
Bank has introduced Biometric Attendance System to have
control over staff punctuality. The leave submission/maintenance
has already been automated which helps to maintain accuracy
and reduce the time involved in updation of records.
Bank has already introduced uninterrupted customer service
by permitting the employees in the branches to observe lunch
recess on rotational basis.
Online Disciplinary Proceedings Register System access is
given to HRDD and HRMD, to enable them to generate IR
clearance of our staff for various purpose such as promotion,
posting of first line, availment of loans, sanction of retirement
benefits etc. which has reduced the time, manpower and
stationery involved.
Submission of Returns on ‘Movable, Immovable and valuable
properties’ by staff has already been made online. Around 99%
of eligible staff have submitted the returns for the year ended
31st March 2018. The scrutiny of these returns by appropriate
Authorities has also been completed upto 99% in online.
Internal complaints committees were constituted at all
Administrative offices (Central, Zonal & Regional office) under the
instruction of HRMD-IR Section, as per the Sexual Harassment
of Women at workplace (Prevention, Prohibition and Redressal)
Act 2013. As per the recommendation of the Committees,
appropriate action is taken to redress the grievance.

The details of the Sexual Harassment Complaints received and disposed during the year 2018 – 2019 are as follows:

Complaints pending as on Complaints received during Complaints disposed off Complaints pending as at the
the beginning of the year 2018-19 during the year end of the year (31.03.2019)
(01.04.2018)
1 10 9 2

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70
Industrial Disputes/Court Cases filed by staff members before
various Courts including those before Assistant Labour
Commissioner are effectively defended/contested by the
Bank in order to safeguard Bank’s interest. Wherever possible
efforts are made to conclude the cases through negotiated
settlement.
Security
Security measures, mandatory and recommendatory, were
correctly and strictly implemented in all the branches, ATMs
and administrative offices were reviewed periodically keeping
in view of the local law and order situation and necessary
steps taken to fortify security thereby creating a safe business
environment for customers and staff. The Bank continued
to stress on preventive measures for security and fire safety
arrangements and inculcation of fire prevention and security
consciousness among staff to ensure safety to life and
property. Bank has sensitized staff members regarding security
awareness and ensured installation of security electronics viz.,
CCTV and Burglar Alarm functioning 24x7x365 days basis
incorporating Passive Infra-Red (PIR) sensors and vibration
sensors in all branches and deployment of outsourced
Watchmen/ Armed Guards at vulnerable ATMs and branches
on case to case basis respectively. The Security Department
at Central Office is monitoring and regulating the operations of
cash flow, duly aided by the team of Regional Security Officers
Pan India.
Rajbhasha (Official Language Policy)
The Bank has taken all efforts to implement the Official
Language Policy of Government of India during the year
2018-19. During the year 152 Staff members who do not
possess working knowledge of Hindi were trained in IOB
Praveen. 2,548 Staff members possessing working knowledge
of Hindi were trained in General Hindi Workshops held during
the year. As per the directives of Government of India, Bank
has enabled Hindi Unicode font in all Regional Offices and has
provided the facility of downloading of the same on IOB Online.
Banking terminology has been provided on IOB Online for the
benefit of staff members. Training has been given to 1,826 staff
members for the use of Hindi in computers. Four issues of
quarterly Hindi Magazine “VANI” in print as well as in digital
form have been published. Lekhmala - 4 is also published.
Govt of India has awarded Second Prize for Hindi house
magazine “VANI” for the year 2017-18 in C Region under
Rajbhasha Keerti Puraskar. Regional Office Hyderabad
received First Prize in southern region from Govt of India
under Regional Rajbhasha award category for the year
2017-18. 15 Regional Offices and one branch received awards
from respective TOLICs. Regional Offices were inspected
on Official Language implementation by Official Language
Department, Central Office and Rajbhasha Shields were
awarded to Regional Offices and branches doing good work
in official language implementation.
71
Third Sub Committee of Parliamentary Committee on Official
Language has conducted inspection of Joshi Math, Ooty and
Ramnathpuram branches on 5th May 2018, 18th June 2018 and
18th Jan 2019 respectively. Drafting and evidence committee
of Parliamentary Committee on Official Language conducted
inspection of Gurugram, Mathura and Palwal branches on
16th July 2018, 27th January 2019 and 14th February 2019
respectively. Both Committees expressed satisfaction over the
implementation of Official Language in these centers. Bank
has conducted Hindi competitions in all Regional Offices and
Central Office on the occasion of Hindi Day Celebrations. An
All India Hindi Essay Writing competition was held on 10th
September 2018. Bank has also conducted inter-bank All-India
Essay Writing competition. Regional Offices have conducted
various Hindi Competitions for school children on the occasion
of Hindi Day Celebrations. On 10th January 2019 World Hindi
Day was observed in Central Office and Regional Offices and
two overseas branches, Various Hindi competitions, seminars
and workshops were held in Regional Offices. Various Hindi
competitions for school children were conducted by Regional
Offices on the occasion of Bank’s Foundation Day celebration.
Status of Implementation of IndAS in our Bank
Bank has commenced the process of Ind AS (Indian
Accounting Standards) implementation from FY 2016-17.
RBI vide their notification RBI/2018-2019/146 DBR.BP.BC.
No.29/21.07.001/2018-19 dated 22nd March 2019 has deferred
the implementation of Ind AS till further notice.
In line with the guidance issued by the Reserve Bank of India
in February 2016, the Bank has set up a Steering Committee
headed by the Executive Director along with a Working Group
consisting of four (4) General Managers which monitors the
progress of IndAS implementation. Bank has also formed
a Core team of ten (10) members and ECL (Expected Credit
Loss) team of seven (7) members drawn from various functional
departments for taking forward the implementation of Ind AS.
In line with direction of Reserve Bank of India Bank has filed
the Pro-forma financial statements up to 31st Dec 2018. Further,
the status report on progress of implementation of Ind AS has
already been placed to the Audit Committee and also to the
Board of the Bank. The Bank has undertaken pan India training
to officers attached to various Regional and Zonal Offices. Also
Ind AS awareness program was undertaken to the Executives
attached to the various Regional and Zonal Offices of the Bank.
Bank has identified the gaps in existing system for meeting Ind
AS requirement which includes fair valuation of staff advances,
staff deposits, computation of Effective Interest Rate (EIR) etc.
Bank has initiated next steps towards streamlining the workflow
of various departments viz., Treasury, Credit verticals, Risk
Management Dept etc by bridging the gaps for meeting IndAS
requirements. Bank is in the process of going for a holistic
solution involving acquisition of software and required hardware
for implementation of Indian Accounting Standards (Ind AS)”
Goods and Service Tax
Goods and Service Tax (GST) is a comprehensive Indirect
Tax reform that has replaced the erstwhile Service Tax/Entry
tax/Octroi and certain other Indirect Taxes and has come into
effect from 1st July 2017. GST is a comprehensive multistage,
destination based tax as it is collected from point of consumption
wherein the tax is determined based on the place of supply. GST
has different rate structures broadly 5%; 12%; 18% and 28%.
GST on sale/auction of Gold is fixed at 3%. GST on Banking and
Financial Services is 18%.
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72
All requisite system modifications have been developed in-
house by Information Technology Department (ITD) to suit the
needs of the Bank. The Bank has migrated from Centralized
Service Tax Registration to State-wise GST Registrations for 34
States where Bank has its Branches. Systems are in place for
making payments to vendors and capturing the details of GST
paid in order to claim the eligible Input Tax Credit (ITC).
Work related to filing of monthly GST Returns, payment of GST
has been centralized and is being made by Tax Compliance
and Payment Cell at Central office. Bank has duly filed all the
Returns under GST up to date.
PSBs- Reforms Agenda – EASE – Enhanced Access &
Service Excellence
Further to the recapitalization plan of PSBs approved by
the Government in October-2017, PSB Reforms Agenda-
“Enhanced Access & Service Excellence (EASE)” has been
framed by Ministry of Finance, Government of India based on
the recommendations made by the PSB Whole Time Directors
and senior executives in PSB Manthan in November-2017.
Reforms Agenda for PSBs
The Reforms Agenda titled “Responsive and Responsible PSBs-
Banking Reforms Roadmap for a New India” aims at “Enhanced
Access and Service Excellence (EASE)” and has been further
subdivided in to 6 themes as given below:
(1) Customer Responsiveness- EASE for customer comfort
(2) Responsible Banking- Financial Stability, governance for
ensuring outcomes and EASE for clean and commercially
prudent business.
(3) Credit off-take- EASE for the borrower and proactive
delivery of credit.
(4) UdayamiMitra for MSMEs- EASE of financing and bill
discounting for MSMEs.
(5) Deepening Financial Inclusion & Digitalization- EASE
through near-home banking, micro-insurance and
digitalization.
(6) Ensuring Outcomes – Governance / HR- Developing
personnel for Brand PSB.
The six themes of action have been divided in to 30 Action
Points (APs). Accordingly, specific timelines have been fixed
for implementation of Action Points and is being reviewed
periodically.
Implementation of EASE – Achievements:
Govt. of India released the EASE Reforms Index and EASE
Banking Reforms awards at an event organized by IBA at Delhi
on 28th February 2019.
73
Bank has bagged 2 awards as winner out of 8 winner
categories.
¾ Winner for “Reforms Excellence” among all Public
Sector Banks.
¾ Winner for theme “Deepening Financial Inclusion
and Digitalization” Bank ranked at 7th place with
66.7 score as on December 2018 among all 21
PSBs. Grievance Redressal System (SPGRS)
of the Bank got a special mention in “Examples
of Best Practice among PSBs” at the Event’s
presentation.
Planning & Economic Desk
The Planning function continues to derive useful results towards
monitoring region wise monthly Profit & Loss movement,
Corporate level Budgeting, reporting provisional daily MIS to
top Management & various study analysis. The economic desk
supports top management with day-to-day developments apart
from analyzing the Government/ RBI policies at regular intervals.
Parliamentary Committee
The Bank hosted the visit of following Parliamentary
Committees during the FY 2018-19.
a) Study Visit of Parliament Standing Committee on Rural
Development, Lok Sabha to Thiruananthpuram from 21st
to 22nd January 2019
b) Study Visit of Parliament Standing Committee on Rural
Development, Lok Sabha to Ooty from 24th to 25th
October 2018.
c) Study Visit of Parliamentary Committee on Government
Assurances, Rajya Sabha to Chennai from 5th to 6th
September 2018.
d) Study Visit on Subordinate Legislation, Rajya Sabha to
Chennai on 29th October 2018.
Outlook 2019-20
The growth projections for the economy are lower for the year
2019-20. The key reasons for the downward revision is due to
probability of lower than normal monsoon for 2019, continued
agrarian distress & loss of momentum in the industrial output
growth especially under manufacturing and electricity. Besides,
the slow progress on cases referred to the National Company
Law Tribunal under the Insolvency and Bankruptcy Code, 2016,
is also a cause of concern. However, the economy is poised
to pick up, benefitting from lower oil prices and a slower pace
of monetary tightening as inflation pressures ease. Continued
implementation of structural and financial sector reforms with
efforts to reduce public debt remain essential to secure the
economy’s growth prospects.
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74
REPORT OF THE BOARD OF DIRECTORS ON CORPORATE GOVERNANCE FOR THE YEAR 2018-19
A. Mandatory Requirements
1. Bank’s Philosophy on Corporate Governance
The Bank is conducting its day to day affairs in accordance with the principles of Corporate Governance. The Bank has always
stood for transparency, accountability and responsiveness within the framework of regulatory, market, stakeholders and internal
governance. In the context of the pivotal role that banks play in the financial and economic system of the country, the Bank
values the critical importance of effective corporate governance in determining its ethical values, objectives, strategies and control
environment.
2. BOARD OF DIRECTORS:
a. Composition:
The business of the Bank is vested with the Board of Directors. The MD & CEO and two EDs function under the superintendence,
direction and control of the Board. The strength as on 31.03.2019 is nine directors comprising three whole time Directors and six
non-executive Directors, which includes one non-executive Chairman and two directors elected from amongst the shareholders to
duly represent their interest. The Non-Executive Chairman presides over the meetings of the Board.
b. i Particulars of Directors who held office during the financial year 2018-2019:

Sl. Name of the Director Designation Nature of Directorship Date of Retirement/

No. (Shri/Smt) Appointments demission of
office during the
year

1 T C A Ranganathan Chairman Non-Executive/ Part 16.02.2017

Time Non Official

2 R. Subramaniakumar Managing Director & Chief Executive / Whole Time 29.09.2016

Executive Officer

3 K Swaminathan Executive Director Executive / Whole Time 17.02.2017

4 Ajay Kumar Srivastava Executive Director Executive / Whole Time 09.10.2017

5 Annie George Mathew Government Nominee Official – Non Executive 22.07.2016

Director

6 Nirmal Chand RBI Nominee Director Official -Non Executive 13.03.2014

7 K Raghu Chartered Accountant Non-Executive 26.07.2016

Director

8 Vishnukumar Bansal Additional Director Non-Executive 08.08.2016 07.08.2018

9 Sanjay Rungta Shareholder Director Non Executive 08.12.2017

10 Navin Prakash Sinha Shareholder Director Non Executive 08.12.2017

11 Sivaraman Anant Narayan Director /Part-time Non – Non Executive 27.12.2017 15.11.2018 *
Official

*Resigned due to personal reasons.

Profile of Directors of the Bank is enclosed as an Annexure.
It is declared that none of the directors are related to each other.
The Board has adopted a Code of Conduct for Directors and all the General Managers and a declaration has been obtained from
the MD & CEO confirming their compliance with the Code of Conduct and is attached to this report.
Shri Haridas C, General Manager, was the Secretary to the Board till 28.02.2019. Shri Hari Babu, Deputy General Manager, is the
present Secretary of the Board.

75
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76
b. ii Particulars of Skills/ Expertise/ Competence of Board of Directors

Core Skill/ Expertise/ Competencies identified as Core Skill/ Expertise / Name of Directors who have
required in the context of the Bank business and Competencies available with such Core Skill/ Expertise/
sectors for it to function effectively the Board Competencies

Banking Yes Shri TCA Ranganathan

Shri R Subramaniakumar
Shri K Swaminathan
Shri Ajay Kumar Srivastava
Shri Nirmal Chand
Shri K Raghu
Shri Sanjay Rungta

Finance Yes Shri TCA Ranganathan

Shri K Swaminathan
Shri Ajay Kumar Srivastava
Smt. Annie George Mathew
Shri K Raghu
Shri Sanjay Rungta

Economics Yes Shri TCA Ranganathan

Human Resource Management Yes Shri TCA Ranganathan

Shri R Subramaniakumar
Shri Ajay Kumar Srivastava
Shri Navin Prakash Sinha

Information Technology Yes Shri R Subramaniakumar

Shri K Raghu

Treasury Management Yes Shri TCA Ranganathan

Marketing Yes Shri Ajay Kumar Srivastava

Shri Navin Prakash Sinha

Insolvency Professional Yes Shri Sanjay Rungta

Risk Management No

c. Meetings of the Board: ‡ 'XULQJ WKH ILQDQFLDO \HDU  WKH %RDUG PHHWLQJV
were held 13 times on the following dates and places:
The date and place of the meeting as well as the agenda papers
are advised to all Directors well in advance. The Directors have Sl. No. DATE OF MEETING PLACE HELD
access to all additional information on the agenda. Executives 01 16.04.2018 Chennai
of the Bank are also invited to attend the Board meetings to 02 29.05.2018 Chennai
provide necessary clarifications. During the year under review, 03 25.06.2018 Chennai
the meetings of the Board were held 13 times as against the 04 09.07.2018 to Chennai
requirement of holding meetings at least once a quarter with a 10.07.2018
minimum of six times a year. 05 27.07.2018 Chennai
During the year 2012-13, the Bank has promoted an 06 28.08.2018 Chennai
e-governance initiative for e-conduct of Board and Committee 07 27.09.2018 Chennai
meetings by ensuring timely and seamless flow of information 08 26.10.2018 Chennai
to Board members through the use of a Board Portal, a web 09 27.11.2018 Chennai
based online workspace. The portal offers Directors confidential 10 04.01.2019 Chennai
e-access on iPads, on a real-time basis, to agenda papers. This 11 25.01.2019 Chennai
initiative has transformed the way meetings are conducted while 12 26.02.2019 Chennai
resulting in substantial savings in cost, time and resources. 13 28.03.2019 Chennai

77
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78
‡ $OOWKHPHHWLQJVZHUHFRQGXFWHGZLWKSURSHUTXRUXPDQGZLWKRXWDQ\DGMRXUQPHQWV
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Sl. No. Name of Director Number of Board Meetings Attendance in the Last AGM
attended/held 11.07.2018
01 Shri T C A Ranganathan 13/13* Attended
02 Shri R. Subramaniakumar 13/13 Attended
03 Shri K Swaminathan 13/13 Attended
04 Shri Ajay Kumar Srivastava 13/13 Attended
05 Smt Annie George Mathew 05/13 Not attended
06 Shri Nirmal Chand 10/13 Not attended
07 Shri K Raghu 13/13# Attended
08 Shri Vishnukumar Bansal 04/05** Not attended
09 Shri Sanjay Rungta 12/13@ Attended
10 Shri Navin Prakash Sinha 6/13*** Not attended
11 Shri Sivaraman Anant Narayan 06/08 Not attended
*Shri T C A Ranganathan attended the meeting through videoconferencing on 28.08.2018, 27.09.2018, 26.10.2018 & 27.11.2018.
#Shri K Raghu attended the meeting through videoconferencing on 25.06.2018, 28.08.2018 & 26.10.2018.
**Shri Vishnukumar Bansal attended the meeting through videoconferencing on 16.04.2018 & 25.06.2018
@Shri Sanjay Rungta attended the meeting through videoconferencing on 25.06.2018, 27.09.2018 & 26.10.2018
***Shri Navin Prakash Sinha attended the meeting through videoconferencing on 28.08.2018.
Details of Shares held by Non-Executive Directors in terms of Regulation 34 of SEBI (LODR) Regulations, 2015 as on
31.03.2019
1. Shri Sanjay Rungta – 600 shares
2. Shri Navin Prakash Sinha – 100 shares
No other Non-Executive Directors hold any IOB shares.
d. Number of other Boards or Board Committees in which the Director is a member/ Chairperson:

Name of Director Number of other companies (excluding Number of Committees (other than IOB) in
private companies and IOB ) in which he / which a member
she is a member/ Chairperson of the Board
(excluding alternate / nominee director)
Shri T C A Ranganathan 3 3
e. Membership in Committees:
None of the Directors on the Board is a member in more than 10 1. Management Committee of the Board
committees or acts as a Chairman of more than five committees
2. Credit Approval Committee of the Board
across all listed entities in which s/he is a director. (For the
purpose of reckoning the limit in terms of clause 26 of SEBI 3. Audit Committee of the Board
(Listing Obligations and Disclosure Requirements) Regulations,
2015, the chairmanship/membership of the Audit Committee 4 Risk Management Committee of the Board
and the Stakeholders' Relationship Committee alone have been 5. Committee for Monitoring Large Value Frauds
considered).
6. Customer Service Committee of the Board
3. COMMITTEES OF THE BOARD:
In order to facilitate the decision-making process, Board 7. Committee for Review of Disciplinary Cases &
has constituted the following committees and delegated Departmental Enquiries
specific powers to them. The minutes of each meeting are
subsequently placed before the next meeting of the committee 8. Remuneration Committee
for confirmation. The minutes are also placed before the Board 9. Nomination Committee
Meeting for information.

79
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80
10. Information Technology Strategy Committee
11. Steering Committee on Human Resources
12. Board Level Committee to Monitor Recovery in NPA
13. Committee of Directors for Issue of Equity Share Capital
14. Review Committee on Wilful Defaulters
15. Stakeholders Relationship Committee
3.1 MANAGEMENT COMMITTEE OF THE BOARD
MCB is constituted as per the provisions of the Nationalized
Banks (Management and Miscellaneous Provisions) Scheme,
1970. The functions and duties of the MCB are as under:
a. Sanctioning of credit proposals (funded and non
funded) as per quantum fixed by the Board
b. Loan and Interest Compromise / Write off proposals
– as per quantum fixed by the Board.
c. Proposals for approval of capital and revenue
expenditure
d. Proposals relating to acquisition and hiring of
premises, including deviation from norms for
acquisition and hiring of premises.
e. Filing of suits / appeals, defending them etc.
f. Investments in Government and other approved
securities, shares and debentures of companies,
including underwriting.
g. Donations
h. Any other matter referred to the Management
Committee by the Board.
Items (a) to (g) will be in respect of proposals beyond the
discretionary powers of MD & CEO/ powers of Credit Approval
Committee, as may be applicable.
The Chairman of the Committee is the MD & CEO of the
Bank. The Committee met 11 times during the year. All the
meetings were conducted with proper quorum and without any
adjournments.

The Members who held office during the period from 01.04.2018 to 31.03.2019 and the details of number of meetings attended
during their tenure by each Committee member are as under:

Sl. No. Name of Director Position Tenure of membership Number of

From To Meetings
Attended / Held
1 Shri R Subramaniakumar Chairman of the Committee 29.09.2016 11/11
2 Shri K Swaminathan Member 17.02.2017 11/11
3 Shri Ajay Kumar Srivastava Member 09.10.2017 10/11
4 Shri Nirmal Chand Member 13.03.2014 11/11
5 Shri Sanjay Rungta Member 08.12.2017 07.06.2018
25.06.2018 24.12.2018 11/11*
04.01.2019 03.07.2019
6 Shri Navin Prakash Sinha Member 08.12.2017 07.06.2018 01/02
7 Shri Sivaraman Anant Narayan Member 25.06.2018 15.11.2018 03/04
*Shri Sanjay Rungta attended the meeting through video conferencing on 25.06.2018, 21.07.2018 & 15.10.2018.
3.2 CREDIT APPROVAL COMMITTEE OF THE BOARD
The Credit Approval Committee of the Board has been constituted on 25.02.2012 by the Board of Directors in terms of the
amendment of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme 1970 vide Notification No. S.O.2736(E)
dated December 5, 2011. The Committee is empowered with specific financial powers for sanctioning of credit proposals and for
settlement for Loan compromise / write off.
The Chairman of the Committee is the MD & CEO of the Bank. The Committee met 15 times during the period from 01.04.2018 to
31.03.2019. Number of Meetings attended by each Committee Member during the period:
Sl. Name of Director/Member Position Tenure of membership Number of Meetings
No From To Attended / Held
1 Shri R Subramaniakumar Chairman of the Committee 29.09.2016 15/15
2 Shri K Swaminathan Member 17.02.2017 15/15
3 Shri Ajay Kumar Srivastava Member 09.10.2017 13/15
4 General Manager Large Corporate Dept & Member 25.02.2012 15/15
Mid Corporate Dept
5 General Manager MSME Dept Member 25.02.2012 07/07
6 General Manager Balance Sheet Member 25.02.2012 15/15
Management Dept (CFO)

81
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82
Sl. Name of Director/Member Position Tenure of membership Number of Meetings
No From To Attended / Held
7 General Manager Risk Management Member 25.02.2012 15/15
Department
8 General Manager Credit Monitoring Member 11/11
9 General Manager ARID Member 06/07
10 General Manager International Member 15/15
11 General Manager Digital Banking Dept Member 07/07
12 Deputy General Manager Retail Banking Member 08/09
3.3 AUDIT COMMITTEE OF THE BOARD
The Audit Committee of the Board (ACB) has been constituted entrusted to ACB in terms of SEBI Committee on Corporate
by the Board of Directors as per instructions of the Reserve Governance guidelines issued by RBI to Indian Commercial
Bank of India/GOI and presently consists of five members Banks listed on stock exchanges:
comprising of the Executive Director (in charge of Internal ‡ 7RLQYHVWLJDWHDQ\DFWLYLW\ZLWKLQLWVWHUPVRIUHIHUHQFH
Inspection and Audit), Government Director, RBI Director, one
non-official director and one share holder director. RBI vide its ‡ 7RVHHNLQIRUPDWLRQIURPDQ\HPSOR\HH
letter dated September 24, 2015 advised that the ED in charge ‡ 7RREWDLQRXWVLGHOHJDORURWKHUSURIHVVLRQDODGYLFH
of Internal Inspection and Audit should be the member of the ‡ 7RVHFXUHDWWHQGDQFHRIRXWVLGHUVZLWKUHOHYDQWH[SHUWLVH
ACB whereas other EDs can be invitees to the meeting. if it considers necessary.
Government of India has advised vide their letter dated The role of the Audit Committee shall also include the following
10.06.2014 that Directors appointed under Section 9 (3) (g) in addition to the existing role function:
and (h) of the Banking Companies (Acquisition and Transfer
of Undertakings) Act 1970, who are on the Management ‡ 2YHUVHHLQJRIWKH%DQN·VILQDQFLDOUHSRUWLQJSURFHVVDQG
Committee shall not be on the Audit Committee in any capacity. the disclosure of its financial information to ensure that the
The Bank is complying with the same. financial statements are correct, sufficient and credible.
The delegated functions and duties of the ACB are as under: ‡ 5HYLHZLQJZLWKWKH0DQDJHPHQWWKHILQDQFLDOVWDWHPHQWV
with special emphasis on accounting policies and
Ö To provide direction as also oversee the operation of the
practices, compliance of accounting standards and other
total audit function in the Bank. Total audit function will
imply the organization, operationalization and quality legal requirements concerning the financial statements.
control of the internal audit and inspection within the Bank ‡ 5HYLHZLQJ ZLWK WKH 0DQDJHPHQW H[WHUQDO DQG LQWHUQDO
and follow up on the statutory / external audit of the Bank auditors, the adequacy of internal control systems.
and inspections of RBI. ‡ 5HYLHZLQJ WKH ILQGLQJV RI DQ\ LQWHUQDO LQYHVWLJDWLRQV E\
Ö To review the internal inspection / audit function in the internal auditors into matters where there is suspected
the Bank – the system, its quality and effectiveness in fraud or irregularity or a failure of internal control systems
terms of follow-up and also the inspection reports of of a material nature and reporting the matter to the Board.
specialized and extra large branches and all branches
‡ 'LVFXVVLQJZLWKH[WHUQDODXGLWRUVEHIRUHWKHFRPPHQFHPHQW
with unsatisfactory ratings
of audit the nature and scope of audit as well as having
Ö To obtain and review half – yearly reports from the post audit discussion to ascertain any area of concern.
Compliance Officers of the functional areas
‡ 5HYLHZLQJ WKH %DQN·V )LQDQFLDO DQG 5LVN 0DQDJHPHQW
Ö To review and follow up on the report of the statutory audit Policies.
and all the issues raised in the Long Form Audit Report
In line with the suggestions of the Ministry of Finance,
(LFAR) and interact with the external auditors before the
finalization of the annual / quarterly financial statements Government of India, the scope of the Audit Committee of
and reports. the Board was broadened to include the following reviews of
accounts at specific exposure levels as approved by the Audit
Ö To review and follow up all the issues / concerns raised in
Committee of the Board:
the Inspection reports of RBI.
A) Potential NPA / stress cases as and when required.
This Committee specially focuses on the follow-up of:
B) High value loans which have been granted against a
Ö Inter – Branch Adjustment Accounts
security which is not free from encumbrances
Ö Unreconciled long outstanding entries in Inter – Bank
C) Cases of One time settlement involving high value loans
Accounts and Nostro Accounts
D) High value accounts - to evaluate / re-evaluate the value
Ö Arrears in balancing of books at various branches
and quality of security / collateral (both tangible and
Ö Frauds and all other major areas of house–keeping, especially intangible) provided against the account.
The following additional role functions/powers have been The Committee met 13 times during the year 2018-19 on

83
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84
17.04.2018, 29.05.2018, 19.07.2018, 26.07.2018, 27.07.2018, 27.09.2018, 25.10.2018, 26.10.2018, 09.11.2018, 24.01.2019,
25.01.2019, 08.03.2019 and 27.03.2019.
All the meetings were conducted with proper quorum and without any adjournment.
The members who held office during the period 01.04.2018 to 31.03.2019 and the particulars of the number of meetings attended
by them during the year are as under:

Sl. No. Name of Director Position Tenure of membership Number of Meetings

From To Attended/held
1 Shri K Raghu Chairman of the 28.08.2016 13/13*
Committee
2 Shri Ajay Kumar Srivastava Member # 09.10.2017 12/13
3 Smt Annie George Mathew Member 22.07.2016 09/13**
4 Shri Nirmal Chand Member 13.03.2014 08/13***
5 Shri Navin Prakash Sinha Member 28.08.2018 01/08##
# with effect from 01.11.2015 ED in charge of Inspection and Audit is a member of ACB and the other ED is an invitee as advised
by RBI. Accordingly Executive Director Shri K Swaminathan is permanent invitee of ACB.
*Shri K Raghu attended the meeting through video conferencing on 19.07.2018, 25.10.2018, 26.10.2018, 09.11.2018 and
08.03.2019.
**Smt Annie George Mathew attended the meeting through video conferencing on 19.07.2018, 09.11.2018 and 08.03.2019.
*** Shri Nirmal Chand attended the meeting through video conferencing on 19.07.2018 and 08.03.2019.
## Shri Navin Prakash Sinha attended the meeting through video conferencing on 09.11.2018.
3.4 RISK MANAGEMENT COMMITTEE
The Chairman presides over the meetings of the Committee. The Committee met 5 times during the period from 01.04.2018 to
31.03.2019. Number of Meetings attended by each Member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of meetings

From To Attended/held

1 Shri T C A Ranganathan 24.02.2017 05/05*

2 Shri R Subramaniakumar 29.09.2016 05/05
3 Shri K Swaminathan 17.02.2017 05/05
4 Shri Ajay Kumar Srivastava 09.10.2017 05/05
5 Shri Sanjay Rungta 29.01.2018 05/05**
6 Shri Vishnukumar Bansal 08.08.2016 07.08.2018 01/01
* Shri T C A Ranganathan attended the meeting through video conferencing on 28.08.2018 and 25.10.2018.
** Shri Sanjay Rungta attended the meeting through video conferencing on 25.10.2018.

3.5 COMMITTEE FOR MONITORING LARGE VALUE FRAUDS

The Chairman presides over the meetings of the Committee. The Committee met 5 times during the period from 01.04.2018 to
31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of Meetings

From To Attended/held

1 Shri T C A Ranganathan 16.02.2017 05/05*

2 Shri R Subramaniakumar 29.09.2016 05/05
3 Shri K Swaminathan 17.02.2017 05/05
4 Smt Annie George Mathew 22.07.2016 02/05
5 Shri K Raghu 26.07.2016 05/05#
*Shri T C A Ranganathan attended the meeting through video conferencing on 29.08.2018 and 27.11.2018.
#Shri K Raghu attended the meeting through video conferencing on 29.08.2018.

85
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86
3.6 CUSTOMER SERVICE COMMITTEE
The MD & CEO presides over the meetings of the Committee. The Committee met 4 times during the period from 01.04.2018 to
31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of Meetings

Attended/held
From To

1 Shri R Subramaniakumar 29.09.2016 04/04

2 Shri K Swaminathan 17.02.2017 04/04

3 Shri Ajay Kumar Srivastava 09.10.2017 04/04

4 Smt Annie George Mathew 22.07.2016 03/04*

5 Shri Sivaraman Anant Narayan 27.12.2017 15.11.2018** 03/03

6 Shri K Raghu 28.03.2019 00/00

* Smt Annie George Mathew attended the meeting on 27.03.2019 through video conferencing.
** Shri Sivaraman Anant Narayan resigned from Board effective 15.11.2018

3.7 COMMITTEE FOR REVIEW OF DISCIPLINARY CASES & DEPARTMENTAL ENQUIRIES

The MD & CEO presides over the meetings of the Committee. The Committee met 4 times during the period from 01.04.2018 to
31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of Meetings

Attended/held
From To

1 Shri R Subramaniakumar 29.09.2016 04/04

2 Shri K Swaminathan 17.02.2017 04/04

3 Shri Ajay Kumar Srivastava 09.10.2017 04/04

4 Smt Annie George Mathew 22.07.2016 01/04

5 Shri Nirmal Chand 13.03.2014 03/04

3.8 REMUNERATION COMMITTEE

Remuneration (excluding performance linked incentive) payable to the whole time directors is decided by the Central Government.
The Bank does not pay any remuneration to the Non-Executive Directors except sitting fee fixed by Government of India which
is Rs.40,000/- per Board Meeting and Rs.20,000.00 per Committee Meeting and additional Fee of Rs.10,000/- for chairing Board
Meeting and Rs.5,000 for chairing Board Committee meeting in terms of GOI Circular No.F.No.15/1/2011-BO.I dated 18.01.2019.
A Remuneration Committee, a Sub-Committee of the Board of Directors, would be constituted at an appropriate time for evaluating
the performance in terms of government guidelines and to recommend payment of performance-linked incentives to the whole
time directors of the Bank.
The Committee did not meet during the year 2018-2019.

3.9 NOMINATION COMMITTEE

RBI, vide circular ref: DBOD. No. BC. No.47 / 29.39.001 / 2007-08 dated 01.11.2007, pursuant to the amendment in The Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1970 effective 16.10.2006, has issued necessary guidelines for
determining the authority, manner/procedure and criteria for deciding the ‘Fit and Proper’ status etc., while appointing the Directors.
RBI has directed that the “Fit and Proper” criteria, as of now, be made applicable to the elected directors (Shareholder directors) –
both present and future. The Chairman presides over the meeting of the Committee.

87
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4 ³ÅÅʟňÅÅÊhӘÅÅÊwÅÅwÅ¥ŸÅ׋ ÅÐ  
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³ÅÅʟňÅÅÊhӘÅÅÊwÅÅwÅ¥ŸÅ׋ ÅИÅÓiÅlÅÓ¶ÅěŚÅœÅׁiÅlŸÅÔ®ÅÅÊÅƃ ÅÅÓiÅlÅۘ›Å¨ÔlÅƶÅĺÅiÅÓlÝwÅÅÆ¢hžÅźÅÅƬŠÅÅß
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88
The Committee did not meet during the year 2018-2019.

Sl. Name of Director Tenure of membership

No.
From To
1 Shri T C A Ranganathan 16.02.2017
2 Smt Annie George Mathew 22.07.2016
3 Shri K. Raghu 26.07.2016

3.10 INFORMATION TECHNOLOGY STRATEGY COMMITTEE

The Chairman presides over the meetings of the Committee. The Committee had met 4 times during the period from 01.04.2018 to
31.03.2019. The number of meetings attended by each member of the Committee during the year:

Sl.No. Name of Director Tenure of membership Number of Meetings

attended/held
From To

1 Shri TCA Ranganathan 16.02.2017 04/04*

2 Shri R Subramaniakumar 29.09.2016 04/04

3 Shri K Swaminathan 17.02.2017 04/04

4 Shri Ajay Kumar Srivastava 09.10.2017 04/04

5 Shri K Raghu 26.07.2016 03/04#

6 Shri Navin Prakash Sinha 29.01.2018 01/04

7 Smt Annie George Mathew 25.07.2018 01/03

* Shri TCA Ranganathan attended the meeting through video conferencing on 29.08.2018 and 27.11.2018.
# Shri K Raghu attended the meeting through video conferencing on 29.08.2018.

3.11 STEERING COMMITTEE ON HUMAN RESOURCES

The MD & CEO presides over the meetings of the Committee. The Committee had met 3 times during the period from 01.04.2018
to 31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director/Member Tenure of membership Number of Meetings

attended/held
From To

1 Shri R Subramaniakumar 29.09.2016 03/03

2 Shri K Swaminathan 17.02.2017 03/03

3 Shri Ajay Kumar Srivastava 09.10.2017 03/03

4 Smt Annie George Mathew 22.07.2016 02/03*

5 Dr T T Ram Mohan 21.12.2011 02/03**

6 Shri Sivaraman Anant Narayan 27.12.2017 15.11.2018*** 02/02

* Smt Annie George Mathew attended the meeting on 15.03.2019 through video conferencing.
** Dr T T Ram Mohan attended the meeting on 27.09.2018 and 26.10.2018 through video conferencing.
*** Shri Sivaraman Anant Narayan resigned w.e.f. 15.11.2018.

89
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4 ³ÅÅÊh¶Åh˜ÅŢŠŇŠ  
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90
3.12 BOARD LEVEL COMMITTEE TO MONITOR RECOVERY IN NPA
The MD & CEO presides over the meetings of the Committee. The Committee met nine times during the period from 01.04.2018 to
31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director/Member Tenure of membership Number of Meetings

From To attended /held

1 Shri R Subramaniakumar 29.09.2016 09/09

2 Shri K Swaminathan 17.02.2017 09/09
3 Shri Ajay Kumar Srivastava 09.10.2017 09/09
4 Smt Annie George Mathew 22.07.2016 04/09
5 Shri Navin Prakash Sinha 08.12.2017 05/09*
6 Shri Sanjay Rungta 28.08.2018 05/06**
7 General Manager (Recovery) 08.12.2012
8 General Manager (Credit Monitoring) 08.12.2012
9 Senior-most General Manager of the Bank 08.12.2012
* Shri Navin Prakash Sinha attended the meeting through video conferencing on 28.08.2018.
** Shri Sanjay Rungta attended the meeting through video conferencing on 27.09.2018 and 25.10.2018.
3.13 COMMITTEE OF DIRECTORS FOR ISSUE OF EQUITY SHARE CAPITAL
The MD & CEO presides over the meetings of the Committee. The Committee met 5 times during the period from 01.04.2018 to
31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of Meetings

From To attended/held
1 Shri R Subramaniakumar 29.09.2016 05/05*
2 Shri K Swaminathan 17.02.2017 04/05
3 Shri Ajay Kumar Srivastava 09.10.2017 05/05
4 Shri Sanjay Rungta 08.12.2017 05/05**
5 Shri K Raghu 26.07.2016 05/05***
6 Shri Navin Prakash Sinha 08.12.2017 05/05****
* Shri R Subramaniakumar attended the meeting through video conferencing on 12.11.2018.
** Shri Sanjay Rungta attended the meeting through video conferencing on 03.10.2018, 12.11.2018, 29.12.2018 & 04.02.2019.
*** Shri K Raghu attended the meeting through video conferencing on 03.10.2018, 12.11.2018, 29.12.2018 & 04.02.2019.
**** Shri Navin Prakash Sinha attended the meeting through video conferencing on 03.10.2018, 12.11.2018, 29.12.2018 &
04.02.2019.
3.14 REVIEW COMMITTEE ON WILFUL DEFAULTERS
The MD & CEO presides over the meeting of the Committee. The Committee met 2 times during the period from 01.04.2018 to
31.03.2019. Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of Meetings

attended/held
From To
1 Shri R Subramaniakumar 29.09.2016 02/02
2 Shri Sanjay Rungta 08.12.2017 02/02
3 Shri Navin Prakash Sinha 29.01.2018 00/02
4 Shri Sivaraman Anant Narayan 27.12.2017 15.11.2018** 01/01
5 Shri K Raghu 27.07.2018 02/02*
* Shri K Raghu attended the meeting through video conferencing on 27.08.2018
** Shri Sivaraman Anant Narayan resigned from Board effective 15.11.2018

91
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92
3.15 STAKEHOLDERS RELATIONSHIP COMMITTEE
Shri Sanjay Rungta is the Chairman of the Committee. The Committee met 4 times during the period from 01.04.2018 to 31.03.2019.
Number of meetings attended by each member of the Committee during the year:

Sl. No. Name of Director Tenure of membership Number of Meetings

attended/held
From To
1 Shri Sanjay Rungta 29.01.2018 04/04*
2 Shri K Swaminathan 17.02.2017 04/04
3 Shri Sivaraman Anant Narayan 29.01.2018 15.11.2018** 02/02
4 Shri Navin Prakash Sinha 25.01.2019 00/00
* Shri Sanjay Rungta attended the meeting through video conferencing on 27.09.2018.
** Shri Sivaraman Anant Narayan resigned from Board effective 15.11.2018.

4.1 Compliance Officer: 5. GENERAL BODY MEETING:

In terms of Regulation 6 of SEBI (LODR), Ms. Deepa Chellam a. Location and time where last three Annual General Meetings
is the Company Secretary and the Compliance Officer during were held:
the period under review for the purpose of complying with the
Sl. Nature of Date, Day and Venue
various provisions of SEBI, Stock Exchanges etc.
No. Meeting time of Meeting
4.2 Shareholders Complaints
1 16th AGM 18.07.2016, Rani Seethai Hall, 603, Anna
Number of complaints received, resolved and pending during Monday, Salai, Chennai – 600 006
the year: 10.00 AM

Pending as on 01.04.2018 0 2 17th AGM 28.06.2017, Narada Gana Sabha 314, TTK
Wednesday Road, Chennai 600 018
Received during the year 56
10.00 AM
Redressed during the year 56
3 18th AGM 11.07.2018, Staff College, Indian Overseas
Pending as on 31.03.2019 Nil Wednesday Bank, 230/7A Jawaharlal Nehru
10.00 AM Road, Anna Nagar,
In terms of Regulation 46 of SEBI (LODR), we have advised Chennai 600 040
the shareholders that an exclusive e-mail ID - investorcomp@
iobnet.co.in has been allotted and Ms. Deepa Chellam, b. In the 16th, 17th & 18th AGMs, special resolutions were put
Company Secretary is the Compliance Officer for the purpose through to obtain the shareholders approval to raise capital
of registering and redressal of complaints by investors. We have by way of issue of equity shares through Qualified Institutional
displayed this email ID and other relevant details prominently on Placement (QIP), Rights Issue, Preferential allotment or Follow-on
our website. The Investor Relations Cell headed by the Company Public Offer or preference shares (cumulative / non cumulative).
Secretary is handling the redressal of investor complaints. c. There was no postal ballot exercise.
d. Location and time where Extra Ordinary General Meetings were held:
Sl. Nature of Meeting Date, Day and time of Meeting Venue
No.
1. EGM 23.09.2015 Wednesday 10.00 A.M. Narada Gana Sabha 314, TTK Road, Chennai 600 018
2. EGM 24.03.2016 Thursday 10.30 A.M. Narada Gana Sabha 314, TTK Road, Chennai 600 018
3. EGM 15.09.2016 Thursday 10.00 A.M. Rani Seethai Hall, 603, Anna Salai, Chennai 600 006
4. EGM 29.11.2017 Wednesday 10.30 A.M. * Narada Gana Sabha 314, TTK Road, Chennai 600 018
5. EGM 30.01.2018 Tuesday 10.30 A.M.** Narada Gana Sabha 314, TTK Road, Chennai 600 018
6. EGM 28.03.2018 Wednesday 10.00 A.M. Narada Gana Sabha 314, TTK Road, Chennai 600 018
7. EGM 02.11.2018 Friday 10.00 A.M. Rani Seethai Hall, 603 Anna Salai, Chennai 600 006
8. EGM 28.03.2019 Thursday 10.00 A.M. Narada Gana Sabha 314, TTK Road, Chennai 600 018
The above EGMs were held for obtaining shareholders approval for issue of equity shares to Government of India and LIC and its
various schemes on preferential basis.
*EGM held for election of Shareholder Directors
** EGM held for obtaining shareholders approval for set off of Share Premium Account against accumulated losses

93
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94
e) E-Voting:
In accordance with the provisions of Regulation 44 of SEBI
(LODR), the Issuer agrees to provide E-Voting facility to its
shareholders in respect of all shareholders resolutions, to
be passed at AGM/EGM. Accordingly, the Bank is providing
e-voting facility.
6. MEANS OF COMMUNICATION:
a. The quarterly un-audited financial results of the Bank are
approved by the Board of Directors and the same are
submitted within the stipulated period to all the stock
exchanges where the Bank's shares are listed. The Bank
has been sending Annual Reports, under Green Initiative
by email to those shareholders whose e-mail addresses
are available with the Bank and through courier/post to
shareholders who have not registered their email id for
this purpose.
b. The quarterly financial results are published in a national
daily, Hindi daily and a regional vernacular daily in terms of
Regulation 47 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015 (LODR). The details and
dates of publication are as under:

Quarter ended English Daily Tamil Daily Hindi Daily Date of publication
31.03.2018 Business Standard The Hindu Business Standard 31.05.2018
30.06.2018 Business Standard The Hindu Business Standard 28.07.2018
30.09.2018 Financial Express The Hindu Jansatta 27.10.2018
31.12.2018 Business Standard The Hindu Business Standard 26.01.2019

c. The quarterly results/annual results and Performance Analysis Dividend for the year Date of Transfer to Due Date for
are also being displayed on the Bank's web-site www.iob.in Unpaid Dividend A/c Transferring to
d. Bank displays official press release during quarterly/annual Government (IEPF)
results 2011-12 16.10.2012 September 2019
7. GENERAL SHAREHOLDER INFORMATION: 2012-13 01.08.2013 September 2020
a) AGM: Date, Time and Venue:- 2013-14 (I) 05.03.2014 April 2021
2013-14 (F) 01.08.2014 September 2021
Date 10th July, 2019 f. The Bank's shares are listed on the following stock exchanges:
Time 10.00 am
Name of the Stock Exchange Stock Code
Venue Sathguru Gnanananda Hall, Narada Gana Sabha , Bombay Stock Exchange Ltd. 532388
314 TTK Road, Alwarpet, Chennai 600 018. National Stock Exchange of IOB EQ AE BE BT
India Ltd.
b) Financial Year : 01st April 2018 to 31st March Annual Listing Fees for the year 2018-19 have been paid to the
2019. stock exchanges within the prescribed due dates.
c) Dividend Payment Date : Nil (Bank incurred Losses during Authorized Capital: As on 31.03.2019, the Authorized Capital
FY 2018-19) of the Bank is Rs.10000 crore.
d) Date of Book Closure : 04-07-2019 to 10-07-2019 (Both Increase in Paid-up Capital:
days inclusive) for the purpose of
The Bank has issued & allotted 137,30,10,821 equity shares of
Annual General Meeting.
Rs.10/- each for cash at issue price of Rs.15.71 per equity share
e) Unpaid Dividend : (including premium of Rs.5.71 per equity share) aggregating
upto Rs.2157 crore to Government of India on Preferential
The Banking Companies (Acquisition and Transfer of
Basis on 12.11.2018 and 269,54,67,422 equity shares of
Undertakings) and Financial Institutions Laws (Amendment) Rs.10/- each for cash at issue price of Rs.14.12 per equity share
Act, 2006, has incorporated a new section 10(B) in the Banking (including premium of Rs.4.12 per equity share) aggregating
Companies (Acquisition and Transfer of Undertakings) Act 1970 to Rs.3806 crore to Government of India on Preferential
on Unpaid dividend of banks and Ministry of Corporate Affairs Basis on 28.03.2019. The Bank has also issued & allotted
had advised the process to be followed by banks for transferring 18,24,00,000 equity shares of Rs.10/- each for cash at Issue
the Unpaid Dividend amount to Investor Education and Price of Rs.11.90 per share (including premium of Rs.1.90 per
equity share) to Employees under Employees Stock Purchase
Protection Fund (IEPF).
Scheme (IOB-ESPS 2018) on 04.02.2019 augmenting capital
Accordingly, the unpaid dividend of previous years has been to the extent of Rs.260.47 crore. Hence, the paid-up capital of
transferred to Unpaid Dividend Account/s of IOB and hence the Bank has increased from Rs.4890.77 crore to Rs. 9141.65
such monies, which remain unpaid or unclaimed for a period of crore. Government of India’s shareholding has increased from
Rs.4389.08 crore (89.74%) to Rs.8457.56 crore (92.52%) and
seven years, shall be transferred to IEPF:
the Public shareholding stood at Rs.684.09 crore (7.48%).

95
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16

14 37000

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8

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2

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20 12000

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12 11000
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8 10500

4 10000

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‚ã¹ãÆõ-18 ½ãƒÃ-18 !#! !$!! ‚ãØã-18 ãäÔã¦ãâ-18 !!#8 ¶ãÌãâ-18 ãäªÔãâ-18 !! ! !!!

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96
g) Market Price Data:-
Period - Month NSE BSE
High (Rs.) Low (Rs.) High (Rs.) Low (Rs.)
April 2018 18.65 17.35 18.50 17.10
May 2018 18.60 15.25 18.60 15.50
June 2018 16.55 13.80 16.70 13.85
July 2018 15.30 12.75 15.32 13.07
August 2018 16.50 12.20 16.45 14.25
September 2018 17.30 13.30 17.25 12.85
October 2018 15.45 10.85 15.40 11.05
November 2018 15.45 13.75 15.55 14.25
December 2018 15.35 13.85 15.26 13.60
January 2019 15.15 13.15 15.14 13.05
February 2019 14.40 12.00 14.80 11.95
March 2019 15.75 13.30 15.69 13.24
Figures in bold represent the high/low price of the Bank’s shares traded during the year 2018 -19, in the respective Stock Exchanges.
Our Bank was not suspended from trading.
h) Equity performance in comparison to BSE Sensex and Nifty50 during 01.04.2018 to 31.03.2019

BSE
20 39000

18
38000
16

14 37000

12
Share Price

36000

Sensex
10
35000
8

6 34000

4
33000
2

0 32000
Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19

IOB Share Price BSE Sensex

NSE
20 12000

18

16 11500

14

12 11000
Share Price

10
Nifty

8 10500

4 10000

0 9500
Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19

IOB Share Price NSE Nifty

97
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¶ÅӜÅÅÊh¬ÅdÅÅӃÅÊdÅÅ¢ÅÆ®ÅÅƘŠşŘÅiÅÓlÅÆ®ÅÅƘŠşŘÅiÅÓl¶ÅįÅÅӅŘÅiÅÓldŮŬÅÅÓiÅl˜ÅŸÅÔ¯ÅӠŢÅÔiÅÓl¶ÅÄÀÅ¢‡Å ÅÅÅƶ‹ÅÅƈÅdÅĈއÅwÅÅÓÅÆiÅlƒÅʟÅ×}¤›ÅŸÅÔ¶ÅÓ¢nÅÓºÅh¸Ø
iÅÓldŬÅÅ®ÅÅžÅÅ×ÅƈÅiÅl¤›Å¶ÅÓÅÆiÅl¶ÅÅÊžÅÅʯÅӠŢiÅÓldÅĈއÅiÅlÅdŘÅ΢ÅӅśŨÅÓ¶ÅӶŘŸÅËÅÆiÅl ÅÅwÅÅhºÅÅß
 ˆÅiÅl¯ÅӠޅÅÅÅÆ¢ˆÅÅiÅlÅÅƮňއÅ
kÅlŸÅ¶ÅÄ Ñãñ¥ããè ¯ÅӠŢÅÔiÅlÅʶÅÄn ÅÅ ¯ÅӠޅÅÅ¢‡ÅiÅlÅ
›Å¨®ÅˆÅ¥iÅlÅÔiÅlÅÊ…ÅÅÅÆ¢ˆÅÅ
1 žÅÅ¢ˆÅ¶Å¢iÅlÅ¢ 8457562532 92.52
f›Å ÅÅӺŠ8457562532 92.52
ºÅ×¢›Å¨®ÅˆÅ¥iÅliÅlÅ…ÅÅ¢‡Å
2 ¶ÅĶ‹ÅźňÅÅƘŮÅÓ¯ÅiÅl
‡ãŠ. Ÿ ÅÐÀÅÎdŬÅ›Ål‡ƒ¶Å ÅÐ}ÅÊdÅÅe 390 0
Œã. œÅØiÅl®ÅÅƮʼnÅÅʠŶÅĶ‹ÅÅhÜ 277209826 3.03
ºÅ œÅÅʟÅÅiÅÄl›ÅÅƘŠÅÅÜ 13438245 0.15
¾Å ÅƮŌӯÅÅʶÅĶ‹ÅźňÅÅƘŮÅÓ¯ÅiÅl 0 0
ƒ ÅƮŌӯÅÅÊ›ÅÅÓ}¥›ÅlÅÓÅƬŠÅÅÓÅƘŮÅÓ¯ÅiÅl 24486876 0.27
f›Å ÅÅӺŠ315135337 3.45
3 ‚㶾ã
‡ãŠ. ÅƘÅwÅÅÊÅƘźşÅÅƘÅiÅlÅ Å 26598300 0.29
Œã. ®Å× ÅÅƉÅliÅl 146085687 1.60
ºÅ h˜ÅdÅÅ¢dÅÅe 7491556 0.08
ÅƮŌӯÅÅÊiÅlÅۛÅÅÕ¢Ó}ÅƘÅiÅlÅ Å 48000 0
e¥h¶ÅdÅÅӛÅÅÊe¥h¶ÅdÅÅÓh¶Åe¥h¶Å›ÅÅÊh¶Å 183645519 2.01
¾Å dŘ Å 5081287 0.05
f›Å ÅÅӺŠ368950349 4.03
iÅÎl¬Å ÅÅӺŠ9141648218 100.00

ƒˆÅiÅlÅƮňއÅdŘÅζÅÐÀÅÅÊ
¯ÅӠŢ…ÅÅ¢iÅlÅÔiÅlÅʶÅÄ ¯ÅӠޅÅÅ¢iÅlÅÔiÅlÅÊiÅÎl¬Å¶ÅÄiÅlÅ £iÅÓldÅÄÅÆiÅlˆÅŸÅЬ ÅiÅÓl ¯ÅӠŢÅÔiÅlÅÊiÅÎl¬Å¢iÅlŸÅdÅÄÅÆiÅlˆÅ iÅÎl¬Å¶ÅÄiÅlÅ
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98
i) Registrar & Share Transfer Agent:
Cameo Corporate Services Limited (Unit-IOB)
Subramanian Building, V Floor No.1 Club House Road, Chennai-600 002
Tel: 044-28460395 Fax: 28460129 e-mail: cameo@cameoindia.com
j) Share Transfer System:
Our Bank’s Board of Directors have delegated the power of transactions on equity shares to Executive Level Share Transfer
Approval Committee (ELSTAC), Committee of General Managers, to consider and approve Share Transfer, Transmission etc. The
minutes of the ELSTAC meetings are reported to the Board of Directors in each meeting. The Committee met 26 times during last
year and reports were submitted to the Board.
Pursuant to amendment of Regulation 40 of SEBI LODR Regulations 2015, any request for effecting transfer of shares in
physical form shall not be processed except in case of transmission or transposition of shares unless the shares are held
in demat form w.e.f. 01.04.2019.
k) Distribution of shareholding as on 31.03.2019:

S. No. Category No. of Shares % of share holding

PROMOTERS HOLDING
1 Government of India 8457562532 92.52
Sub-Total 8457562532 92.52
NON-PROMOTERS HOLDING
2 Institutional Investors
A Mutual funds and UTI 390 0
B Banks, Financial Institutions 277209826 3.03
C Insurance Companies 13438245 0.15
D Foreign Institutional Investors 0 0
F Foreign Portfolio Investor 24486876 0.27
Sub-Total 315135337 3.45
3 OTHERS
A Bodies Corporate 26598300 0.29
B Individuals 146085687 1.60
C NRI 7491556 0.08
Overseas Corporate Body 48000 0
ESOP/ESOS/ESPS 183645519 2.01
D Others 5081287 0.05
Sub-total 368950349 4.03
GRAND TOTAL 9141648218 100.00
l) Distribution schedule as on 31.03.2019
INDIAN OVERSEAS BANK - DISTRIBUTION OF HOLDINGS AS ON 31.03.2019

No. of % to Total No. of Shareholding in terms Share Amount % to Total

Shareholders Shareholders of nominal value of (Face Value)
Rs.10/-
201785 74.20 10 - 5000 361381010 0.40
28098 10.33 5001- 10000 238125600 0.26
12735 4.68 10001 - 20000 196388870 0.21
4057 1.49 20001 - 30000 104650890 0.11
1935 0.71 30001 - 40000 70590290 0.08
2222 0.82 40001 - 50000 106849540 0.12
15350 5.64 50001 - 100000 1248091540 1.37
5765 2.12 100001 - and Above 89090404440 97.46
271947 100 Total 91416482180 100

99
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‹Å œÅiÅlÅ ÅÅwÅÅʃÅÊdÅÅ¢hƒÅÊdÅÅ¢®ÅÅ¢‡} ÅÅdŘ ÅiÅlÅÓe¥›ÅÅÆ¢®ÅˆÅ¥˜ÅÅÊ ÅÅƬÅnňÅ›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅlÅʈÅÅ¢ÅÊnÅ®ÅeÅÆiÅm®Å}ÅʛŢe¶ÅiÅlŶÅĞÅÅ® Å›Å¨žÅÅ®Å
œÅØiÅl˜ÅÓiÅlÅÓe¥wÅÅʃÅÊdÅÅ¢hƒÅÊdÅÅ¢®ÅÅ¢‡} ÅÅiÅlÅÓe¥›ÅÅÆ¢®ÅˆÅ¥˜ÅÅÊ ÅÅƬÅnňÅÔwÅÅ¢ÅʘŸÅËiÅlÅʸ×ß

100
m) Foreign Shareholding as on 31.03.2019

S. Category As on 31.03.2018 As on 31.03.2019

No.

No. of shares % To total capital No. of shares % To total capital

1 Foreign Institutional Investors 242012 0.00 NIL NIL

2 OCBs 48000 0.00 48000 0.00

3 NRIs 6973788 0.14 7491556 0.08

4 Foreign Portfolio Investor 26415977 0.54 24486876 0.27

Total 33679777 0.69 32026432 0.35

As detailed in the above table, the total foreign shareholding (FIIs, OCBs, NRIs and Foreign Portfolio Investors) as at 31.03.2019
was 0.35% which is within the stipulated level of 20% of the total paid up capital of the Bank.
n) Top five shareholders of the Bank as on 31.03.2019:

S. Name of the Shareholders No. of Shares held % of Total Holding

No

1 The President of India, Government of India 8457562532 92.52

2 LIC of India 262053524 2.87

3 United India Insurance Company Limited 8756567 0.10

4 Vanguard Emerging Markets Stock Index Fund, A Series of Vanguard International 7504203 0.08
Equity Index Fund

5 Suashish Diamonds Limited 6831677 0.07

o) Dematerialization of shares & Physical Holding:

The shares of the Bank are under compulsory demat trading. The Bank is a member of the depository services with National Securities
Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) as an issuer company for dematerialization of
the Bank's shares. Shareholders can get their shares dematerialized with either NSDL or CDSL. The depository services have
allotted the following ISIN code to the Bank: INE565A01014.
Out of 914.16 crore equity shares as on 31.3.2019, 911.42 crore equity shares or 99.70% are held by 195053 shareholders in Demat
form (of which Government of India holds 845.76 crore equity shares in Demat form aggregating to 92.52%) and 2.74 crore equity
shares or 0.30% are held by 82929 shareholders in physical form.
p) Unclaimed shares held in Demat Account:
The position of shares held in the unclaimed suspense account is mentioned below:

Details No. of shareholders No. of Shares

Aggregate number of shareholders and outstanding shares lying in unclaimed 220 54800
suspense account at the beginning 01.04.2018
Number of Shareholders who approached for transfer of shares from unclaimed NIL NIL
suspense account during the year
Number of Shareholders to whom shares were transferred from the unclaimed NIL NIL
suspense account
Aggregate Number of Shareholders and the outstanding shares lying in the 220 54800
unclaimed suspense account at the end of 31.03.2019
The voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares.
q) Outstanding GDRs/ADRs/Warrants or any convertible instruments, conversion date and likely impact on equity:
The Bank has not issued any GDRs /ADRs / Warrants or any convertible instruments.

101
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102
r) The Bank has raised non-convertible bonds in the nature of promissory notes from time to time. The details of such
bonds outstanding as on 31.03.2019 are as follows:

Series Date of Allotment Size Tenor (in months) Coupon % Redemption Date
(Rs. in cr)

Lower Tier II

XIII 24.08.2009 290.00 120 08.48 24.08.2019

XIV 31.12.2010 1000.00 120 08.95 31.12.2020

Upper Tier II Call Option Date

III 01.09.2009 510.00 @180 08.80 @01.09.2019

IV 10.01.2011 967.00 @180 09.00 @10.01.2021

Tier I Basel II (Perpetual )

IV 29.09.2009 300.00 @perpetual 09.30 @29.09.2019

Basel III Tier II

I 03.11.2016 800.00 *120 9.24 #03.11.2021

II 10.12.2018 300.00^ 120 11.70 #08.12.2023

@Call option available at the end of 10 years (with the prior approval of RBI). If the call Option is not exercised, the coupon rate will
be stepped up by 50 bps.
#Call option available at the end of 5 years (with prior approval of RBI)
^The funds of Rs.300 crores raised through Basel III Tier II Bonds Series II have been utilised for the purpose for which it was
raised as mentioned in the information memorandum dated 10.12.2018 namely to augment Tier II Capital and overall Capital of the
Bank for strengthening the capital adequacy as per Basel III requirements and for enhancing the long term resources.
s) BOND TRUSTEE TO THE ISSUE:
The Bank has appointed M/s. IDBI Trusteeship Services Ltd., Mumbai, as Bond Trustees to all the above Bond Issues, to safeguard
and to protect the interests of the investors of the Bonds. Address of the Trustees is given below:
IDBI Trusteeship Services Ltd.,
Asian Building, 17 R Kamani Road, Ballard Estate, Fort, MUMBAI-400 001

Contact Details: Ms. Sheetal

Senior Manager
022-40807000/ 40807006
t) Auditors Fee:
Total Fee paid by the Bank for all services to the Statutory Auditors during FY 2018-19 is Rs. 216,385,627.00

103
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104
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 Credit Ratings
A. Domestic

Name of the Rating Agencies LOWER TIER II Upper Tier II Tier I Additional Basel III Tier II Certificate Fixed
Basel II Tier I Basel of Deposit Deposit
Series XII Series XIII Series XIV Series II Series III Series IV (Perpetual) III Series I* Programme Programme
Series I Series II
# # Series IV

Brickwork Ratings India Pvt. Ltd. -- -- -- -- -- -- -- BBB+ -- -- -- --

CARE Ratings Limited -- -- -- -- -- -- -- BBB -- -- -- --

CRISIL Limited A+ Stable A+ Stable A+ Stable A- Stable A- Stable A- Stable A- Stable -- A+ Stable A+ Stable A1+ FAA Stable

ICRA Limited A+ Negative A+ Negative A+ Negative A- Negative A- Negative A- Negative A- Negative -- A+(hyb) A+(hyb) A1+ --
Negative Negative

*Credit Rating by Brickwork Ratings India Pvt. Ltd. and CARE Ratings Limited on AT-1 Bonds stands withdrawn consequent to exercise of regulatory call option on
Additional Tier 1 Basel III Bonds Series I by the Bank on 13.06.2018.
#Redeemed during the year and rating stands withdrawn.
B. International

105
Name of the Rating Agencies Long-term local and foreign Baseline Credit Assessment (BCA) Foreign currency Outlook
currency deposit and Adjusted BCA counterparty risk

Moody's Investors Service, Singapore Ba2 b2 Ba1/NP Stable

(Upgraded from Ba3 (Upgraded from b3 w.e.f. 11.03.2019) (Outlook changed from Positive
w.e.f. 11.03.2019) w.e.f. 11.03.2019)

Name of the Rating Agencies Issuer Credit Rating

S&P Global Ratings BB/ Stable/ B
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106
t) Address for Correspondence:
Share transfers, dividend payment and all other investor related activities are attended to and processed at the office of Cameo
Corporate Services Ltd., Registrars & Share Transfer Agents. Shareholders may lodge documents, grievances and complaints at
their address:
Cameo Corporate Services Ltd.
(Unit-IOB) Subramanian Building, V Floor
No.1 Club House Road, Chennai-600 002
Tel: 044-28460395 Fax: 28460129 email:cameo@cameoindia.com

The Bank has an Investor Relations Cell at its Central Office to handle the complaints and service requirements of the shareholders
at the following address:
Indian Overseas Bank
Investor Relations Cell, Central Office, 763, Anna Salai
Chennai-600 002
Tel: 044-28519654, 71729791, 28415702,
email: investor@iobnet.co.in / investorcomp@iobnet.co.in
Disclosures e. The Bank has complied with all the mandatory
requirements to the extent provided for in the statutes/
a. Disclosures as to Related Party Transactions of Key
guidelines/directives issued from time to time by RBI/
Managerial Personnel i.e. Whole Time Directors are being
Government of India to the nationalized banks.
reviewed on a quarterly basis by the Audit Committee of
the Board. f. In terms of Regulation 34 of SEBI (LODR), Business
b. There are no significant related party transactions of the Responsibility Report for the year 2018-19 forms part of
Bank with its directors, management or their relatives etc this report and is made available in our Bank’s web site:
that would have potential conflict with the interests of the www.iob.in
Bank at large. g. The Non Mandatory requirements have been adopted as
c. During the year BSE & NSE have imposed penalty of stated in this report against the relevant items.
Rs.10,000.00 (Rupees Ten Thousand only) each plus GST
h. The Bank does not undertake commodity market activities.
for delay in intimating date of Board Meeting. The Bank
has made payment to both the stock exchanges. Except i. Number of sexual harassment complaints as on
for the above and penalty of Rs. 2.00 lakhs imposed due 01-04-2018 - 1
to certain non compliance, which was reported in Annual
Number of complaints filed during the financial year – 10
Report 2017-18, no other penalties were imposed or
strictures passed on us by Stock Exchanges/SEBI/any Number of complaints disposed off during the financial
Statutory authority on any matter related to capital market year – 9
during the last three years ended 31.03.2019
Number of complaints pending as on 31-03-2019 – 2.
d. Bank has a Whistle Blower Policy and affirmed that no
personnel has been denied access to the Audit Committee j. The remuneration of MD & CEO and EDs is fixed by the
as per CVC guidelines and the same is disclosed in our Government of India. The details of remuneration paid to
website. the MD & CEO and EDs are detailed below:

S. Name Designation Period Details of Remuneration* Amount (Rs)

No Salary Arrears PF
1 Mr R Subramaniakumar MD & CEO 01.04.2018 - 2821896 22848 230160 30,74,904.00
31.03.2019
2 Mr K Swaminathan ED 01.04.2018 - 2345141 21322 216990 25,83,453.00
31.03.2019
3 Mr Ajay Kumar Srivastava ED 01.04.2018 - 2343003 21534 216930 25,81,467.00
31.03.2019
*Amount in INR
The Bank does not pay any remuneration to the Non-Executive Directors except sitting fee fixed by Government of India which
is Rs.40,000/- per Board Meeting and Rs.20,000.00 per Committee Meeting and additional Fee of Rs.10,000/- for chairing Board
Meeting and Rs.5,000 for chairing Board Committee meeting in terms of GOI Circular No.F.No.15/1/2011-BO.I dated 18.01.2019.

107
} ¶ÅӜÅÅÊh¬ÅdÅÅӃÅÊdÅÅ¢iÅÓlÅÆ®ÅÅƘŠşŘÅiÅÓldŘÅζÅÅ¢¶ÅÅÊe¥dÅÅÓdÅÅ×¢¶ÅÅÊh›ÅldÅÅÓ k. The Certificate of CEO and CFO in accordance with
iÅlśŨŸÅŇśŊÅœÅØiÅliÅÓlÅƘŌӯÅiÅlŸÅă¬ÅiÅlÅÓ¶ÅÅ؛ÅÅƌ ÅźŠÅŸ×dÅÅ×¢hiÅl›Å¨ÅƈÅe¶Å Regulation 17(8) of SEBI (LODR) has been submitted to
the Board of Directors of the Bank and a copy is attached
ÅÆ¢›ÅÅÓ}¥iÅÓl¶ÅŋŶÅĬź˜Å¸× to this report.
 ¶ÅӜÅÅÊh¬ÅdÅÅӃÅÊdÅÅ¢iÅÓlÅÆ®ÅÅƘŠşŘÅiÅÓl¶ÅČžÅ¥ŸÅԮŵťiÅÓlÅƬÅhœÅØiÅl l. In terms of Regulation 34 of SEBI (LODR), a certificate
ŸÅÔ iÅlÅۛÅÅÕ¢Ó}¯ÅŶ؜ޮÅׅÅÅÅƘÅiÅliÅÔl•ÅʠŬÅÓnÅśŢÅÊÂÅiÅlÅÔ ¶ÅÓ ›Å¨ŸÅŇśŊśŨśˆÅ has been obtained from the Statutory Central Auditors on
corporate governance in the Bank for the year 2018-19
ÅÆiÅl ÅźŠÅŸ×dÅÅ×¢ Å¸e¶ÅÅÆ¢›ÅÅÓ}¥iÅÓl¶ÅŋÅdŘÅΜÅÄÅƅňŸ×ß
and the same is annexed to this report.
ƒ œÅØiÅliÅlÅÊ ¬ÅŞÅÅįÅÅƮňއŘÅÅÊÅƈÅÅÆ¢›ÅÅÓ}¥ iÅlÅžÅźÅ¸× dÅÅ×¢œÅØiÅliÅlÅÊ ®ÅӜŶÅÅe} m. The Dividend Distribution Policy of the Bank forms part
ZZZLRELQ›Å¢f›Å¬Åœ…Å¸× of this Report and is available on the Bank’s website at
www.iob.in
† ÅƘŌӯÅiÅlÅÔ iÅÓl ÅƬÅh ›ÅÅÆ¢ÅÆÀňÅ iÅlŠťkÅlŸÅÅÔ iÅlÅ ÅƮŮއÅ œÅØiÅl iÅlÅÊ ®ÅӜŶÅÅe} n. Details of familiarization programmes for Directors have
ZZZLRELQ›Å¢Åƌ ÅźŠÅÅ¸× been given on the Bank’s website at www.iob.in
‡Å œÅØiÅliÅlÅÓ ÅƮʼnÅÅʠŮŵť iÅÓlŒÅעŘÅžÅÅ¢ˆÅ¶Å¢iÅlÅ¢¶ÅÓ £iÅl¢ÅÓރ o. The Bank has received Capital Infusion from Government
of India (GOI) aggregating to Rs. 5,963 Crore during
iÅlÅÊ›ÅÐÄwÅÅʛŨśˆÅ¸Îe¥ßœÅÙiÅl˜ÅÓdÅÅƅşÅŘÅÅÊdÅŅÅÅ¢›Å¢e¥ÅÆiÅm®Å}ÅÊ FY 2018-19. The Bank has issued 406,84,78,243 equity
¯ÅӠŢwÅÅ¢ÅÊÅÆiÅlhß Shares on preferential basis to GOI for such Capital
Infusion.
 ¸ŸÅe¶ÅœÅňÅiÅlÅÊ›ÅÎÅƵ}iÅl¢ˆÅÓ¸×ÅÆiÅlœÅØiÅliÅlÅÊ›ÅÐÜwÅÅʛŠÅÅ¥›ˆÅˆÅÅiÅlÅÓœÅކŘÅÓiÅÓlÅƬÅh
We confirm that the funds have been utilized for the
dÅÅ×¢œÅØiÅliÅlÅÊ ¶ÅşÅŘ Å® Å®Å¶ÅÅÅÆ ÅiÅldÅŮů ÅiÅlˆÅÅdÅÅÔ iÅlÅÓ ›ÅТÅiÅl¢˜ÅÓ iÅÓlÅƬÅh purpose for which it was raised namely to shore up the
e¶Å…ŘÅiÅlÅf›Å ÅÅÓºÅÅÆiÅl ÅźŠÅŸ×ß capital adequacy of the Bank and to fund the general
business needs of the Bank.
œÅÅÊ ºÅ×¢dÅÅƅŌӯÅňŸÅiÅldśÅÓÂÅÅhÜ
B. NON MANDATORY REQUIREMENTS:
ºÅ×¢dÅÅƅŌӯÅňŸÅiÅldśÅÓÂÅÅhÜ œÅØiÅl–Å¢ÅdśŘÅÅe¥ºÅe¥
Non Mandatory Our Adoption
œÅÅӃ¥ºÅ×¢ iÅlŠť›ÅŬÅiÅl –ŢŠžÅÅ¢ˆÅ ¶Å¢iÅlÅ¢ –ŢŠdŜňÅiÅl ºÅ×¢iÅlŠť›ÅŬÅiÅl Requirements
iÅÄl›Å˜ÅÅÊ iÅÓlnÅÀÅÕ ›Å¢iÅlÅ ÅÅ¥¬Å ÅiÅlÅ dŅ ÅÂÅiÅlÅÊÅƘŠÅÎÅƉÅl˜Å¸ÅËiÅlÅʺÅe¥¸×ß The Board – Maintenance Bank has not provided office for
¢nÅ¢nÅŮŠof an office by a non- the non-executive Chairman
executive Chairman at the
company’s expense
¯ÅӠޅÅÅ¢iÅlÅÔiÅÓldÅÅƅÅiÅlÅ¢ ÅƮʼnÅÅÊ Å ›ÅÅÆ¢‡ÅşÅ ®ÅӜŶÅÅe} ›Å¢ ›Å¨ŒÅƯťˆÅ ÅÆiÅlh
wÅňÅÓ¸Øß Shareholders Rights The financial results are displayed
in our website.
dÅÅÛÅƃ}dŸ¥ˆÅÅ  iÅlÅÊ ¬ÅÓnÅśŢÅÊÂÅÅ ÅÆ}››Å‡ÅÅÊ ŸÅÔ  ÅÅÓº Å Audit Qualification The Audit Reports for the year
dŞ ÅÎÅƉÅlŸÅÅ×ÝwÅЌ˜Å¸Å˸×ß 2018-19 do not contain qualified
remarks.
dŅ ÅÂŮŶÅÅÊe¥dÅÅÓiÅÓldŬźÅ›ÅŒ ¶ÅŮťwÅÅƘÅiÅlÂÅӊÅiÅÓlœÅØiÅlÅÔiÅÓldŅ ÅÂÅdÅÅ×¢›Å¨œÅąÅ Separate post of The post of Chairman and
ÅƘŌӯÅiÅl iÅÓl ›ÅŒ iÅlÅÓ žÅÅ¢ˆÅ ¶Å¢iÅlÅ¢ –ŢŠhiÅl Chairman and CEO Managing Director of Public
ºÅ×¢iÅlŠťiÅlÅ¢ÅÊ dŅ ÅÂÅ ŸÅÔ œÅÅÄ}Å ºÅ ÅÅ ¸× ˆÅÅÅÆiÅl Sector Banks has been bifurcated
by the Government of India into
œÅØiÅliÅlÅÓ ›ÅЇť ˜ÅÅÊÅƈÅÅƘŌկÅÅƌ ÅÅwÅŶÅiÅÓldÅÅ×¢ a non-executive Chairman to
hiÅl›ÅЇťiÅlÅÅƬÅiÅliÅlŠťiÅlÅ¢ÅʛŨœÅąÅÅƘŌӯÅiÅldÅÅ×¢ give an overall policy direction
¶ÅÅÊe¥dÅÅÓœÅØiÅliÅÓlÅƌ˜Å›Å¨ÅƈÅÅƌ˜ÅiÅlŠťiÅlÅÊÅƘźŢŘÅÅÊ to the Bank and a full time
iÅl¢¶ÅiÅÔlß executive Managing Director &
CEO to oversee the day to day
dÅÅĈÅÅÆ¢iÅl¬ÅÓnÅśŢÅÊÂÅiÅl œÅØiÅliÅlÅÊdśŘÅÅÊdÅÅĈÅÅÆ¢iÅl¬ÅÓnÅśŢÅÊÂÅÅÅƘŢÅÊÂŇÅ functioning of the Bank.
¸× dÅÅ×¢f˜ÅiÅlÅÊ ÅÆ¢›ÅÅÓ}¥ dÅÅ®ÅÅƅÅiÅl¤›Å¶ÅÓ ¶ÅŸÅÅÊÂÅÅ Internal Auditor The Bank has its own Internal
¸ÓˆÅÎœÅÅӃ¥iÅÓl¶ÅŸÅÂśŨ¶ˆÅΈÅiÅlÅÊwÅňÅÅʸ×ß Audit/Inspection and their reports
are periodically placed to the
Audit Committee for review.

iÅÒlˆÅӈŋÅÅÅƘŌӯÅiÅlŸÅă¬ÅiÅlÅÊdÅÅÓ¢¶ÅÓ For and on behalf of the Board of Directors

Chennai (R. Subramaniakumar)

ÀÅӚÅ× dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢
09.05.2019 Managing Director & CEO
 ›Å¨œÅąÅÅƘŌӯÅiÅl®ÅŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊ

108
 ®ÅµÅ¥iÅÓlÅƬÅhiÅlÅۛÅÅÕ¢Ó}ºÅ®Å˜ÅÕ¶ÅÅƮŵŠÅiÅlÅƘŌӯÅiÅlŸÅă¬ÅiÅlÅÊÅÆ¢›ÅÅÓ}¥iÅlÅdŘÅΜÅąÅ
ANNEXURE TO REPORT OF THE BOARD OF DIRECTORS ON CORPORATE GOVERNANCE FOR THE YEAR 2018-19
ÅƘŌӯÅiÅlÅÔiÅlÅwÅÅʮŘÅ›ÅÅÆ¢ÀÅ ÅDIRECTORS PROFILE

 ³ÅÅÊ}ÅʶÅÅÊh¢ÄºÅ˜ÅŋŘŠ1. Shri. T C A Ranganathan

 dŅ ÅÂÅ Chairman
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 65 years - 19.11.1953
 ÅÅÓº ÅˆÅŶ˜ÅňÅiÅlÅӉŢdŋť¯ÅŶŠÅ Qualification: MA Economics
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ Date of Appointment :16.02.2017
®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ Date of expiry of the Current term :15.02.2020
dŘÅΞŮÅ Experience :

¶ÅĈŶ}ÅʛÅÓl˜ÅiÅlÅÛ¬ÅÓwÅÅƌ¬¬ÅÅʶiÅÐl¬ÅdÅÅۛÅleiÅlÅӘÅÅÛÅƟÅÝiÅm¶Å¶ÅÓ¶˜ÅňÅiÅl¶˜ÅňÅiÅlÅӉŢ Shri T. C. A. Ranganathan has over 40 years of banking

experience after completing his graduation/ post-graduation
iÅl¢˜ÅÓiÅÓlf›Å¢ÅĈųÅÅÊ}ÅʶÅÅÊh¢ÄºÅ˜ÅŋŘÅiÅlŮŵÅÅÖiÅlÅœÅØÅÆiÅÄlºÅdŘÅΞŮŸ×ß
in Economics from St. Stephen’s College, Delhi School of
³ÅÅÊ }ÅÊ ¶ÅÅÊ h¢ÄºÅ˜ÅŋŘŘÅÓ ›Ål¢®Å¢ÅÊ ¶ÅÓ ˜Å®ÅĜŢiÅÓlŒÅעŘÅhÅÆiÅm¶ÅŸÅœÅØiÅl Economics.
ŸÅÔ ¶ÅÅÊhŸÅƒÅÊ iÅÓl¤›ÅŸÅÔ iÅlŠť ÅÆiÅl ÅÅßhÅÆiÅm¶ÅŸÅœÅØiÅliÅÓldŅ ÅÂÅiÅÓl¤›ÅŸÅÔ ®ÅÓ žÅÅ¢ˆÅ Shri T. C. A. Ranganathan served as the Chairman and
¶Å¢iÅlÅ¢iÅÓliÅÎl~ÅƮŌӯÅÅÊ ›Å¸¬ÅÅÔ wÅ׶ÅÓ ÅÆiÅleăÅÓ ¶ÅÅg‹ÅdÅÅƛŨliÅlŶÅÅÊe¥dÅÅÓ ›ÅlÅÓ¢ŸÅ Managing Director of Export-Import Bank of India from
eăÅÓ dÅÅƛŨliÅlÅÅƜÅwŘÅÓ¶ÅiÅlÅfÄÅƶŬÅeăÅÓŸ ÅÅğÅÅ¢¶ÅÄ ÅΉÅl® ÅśÅÅ¢®ÅÅƘŮÅӯśÅlÅÓ¢ŸÅ February 2010 to November 2013. As Chairman of Exim
eˆ ÅÅÅƌß Bank, he had been a member of several Government of India
overseas initiatives such as Indo-South Africa CEO Forum,
³ÅÅÊ }ÅÊ ¶ÅÅÊ h¢ÄºÅ˜ÅŋŘŘÅÓ dśŘÅÓ iÅlÅÆ¢ Å¢iÅlÅÊ ¯ÅΣdÅňÅžÅÅ¢ˆÅÅʠŶ}Ó}œÅØiÅl¶ÅÓ iÅlÅÊ Indo-Africa Business Council, Indo-Myanmar Joint Trade and
wŸÅÜ f˜¸ÅԘÅÓ¯ÅÅnÅśŨŸÅÎnůÅÅnÅÅÅƘŠÅĊÅiÅliÅÓl¤›ÅŸÅÔ ¾Å¢Ó¬ÅÐ œÅØÅÆÝiÅÄlݺÅiÅlŠť iÅl¢˜ÅÓ iÅÓl Investment Forum etc.
¶ÅŋŶÅŋÅdÅĈŢťµ}ªÅÊ ÅœÅØÅÆiÅÄlºÅiÅlÅۛÅÅÕ¢Ó}ÅƮʼnÅÅƘŮÅӯŜÅØÅÆiÅÄlºÅÂÅӊÅÅÔ ŸÅÔ žÅÅÊ iÅlŠť Shri T C A Ranganathan started his career with State Bank
ÅÆiÅl ÅÅdÅÅ×¢ÅƘş˜Å›ÅŒÅԛŢiÅlŠťÅÆiÅl ÅÅ of India wherein he had diverse assignments in International
Banking, Investment Banking, Corporate Finance and
 iÅÓlŒÅעŘŶ}Ó}œÅØiÅldÅÅۛÅlÅƜÅiÅlŘÅÓ¢®ÅwŠśÅ΢ŸÅԛŨœÅąÅÅƘŌӯÅiÅliÅÓl
Consultancy in addition to Domestic Banking as Branch Head/
¢¸Ó Branch Controller and also held the following positions :
 iÅÓlŒÅעŘŶ}Ó}œÅØiÅldÅÅۛÅleÄÅƃ ÅÅiÅÓlŸÅÎn ÅŸÅ¸Å›Å¨œÅąÅiÅliÅÓl¤›ÅŸÅÔ - Managing Director of State Bank of Bikaner & Jaipur from
iÅlŠťÅÆiÅl ÅÅ 2009-2010.
 iÅÓlŒÅעŘŶ}Ó}œÅØiÅldÅÅۛÅleÄÅƃ ÅÅiÅÓlŸÅÎn ÅiÅlŠťiÅlÅ¢ÅÊdÅÅƅÅiÅlÅ¢ÅÊiÅÓl - Chief General Manager of State Bank of India from
¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅÅ 2007-2009

 iÅÓlŒÅעŘÅf‰Å¢žÅÅ¢ˆÅŸÅԟŸśŨœÅąÅiÅldÅÅ×¢ÅƟŃiÅlÅۛÅÅÕ¢Ó}¸ÓƒÂÅӊÅÅÊ Å - Chief Executive Officer of State Bank of India from

iÅlÅ ÅÅ¥¬Å ÅiÅÓl¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅÅ 2005-2007
- General Manager and Head of the Mid Corporate Regional
 iÅÓlŒÅעŘÅh¶ÅœÅÅÊdÅÅe¥ iÅ×lÅƛÅ}¬ÅŸÅÅiÅÕl}ÅƬÅÅƟÅ}ӃiÅÓl®ÅÅÆ¢µ®ÅÅe¶Å
Office for North India (2004-05)
›Å¨ÓÅƶŃÔ}h®ÅĘÅŋťeÄÅƃ ÅŸӃiÅÓl¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅÅ
- Senior Vice President and North India Head of SBI Capital
 ®ÅµÅ¥  iÅÓl ŒÅעŘÅ ˜Åe¥ ˆÅiÅl˜ÅÅÊiÅl iÅÓl ¯ÅΞÅŢĞÅ dÅÅ×¢ ›Å¨œÅąŘÅ ›Å¸¬Å ŸÅÔ Markets Ltd. (2001-2004)
›ÅÅÆ¢®ÅˆÅ¥˜Å ¸ÓˆÅÎ žÅÅ¢ˆÅÅÊ Å ¶}Ó} œÅØiÅl –ŢŠ¶‹ÅÅÅƛňÅ ˆÅiÅl˜ÅÅÊiÅlÅÊ  ÅÅÓwŘÅÅ ºÅ¨Î›Å iÅÓl
- Member of Technology Planning Group set up by SBI for
¶ÅŒ¶ ÅiÅÓl¤›ÅŸÅÔiÅlŠť introducing new technology and change management
 ®ÅµÅ¥iÅÓlŒÅעŘŘŮźÅÅƁˆÅŠÅ«‡ÅŸÅЬ ÅÅÄiÅl˜ÅiÅlÂÅžÅÅ¢ˆÅÅʠŶ}Ó}œÅØiÅl initiatives (2000-2001)
iÅÓl¸Óƒ - Head of Credit Appraisal Cell of the newly formed
 ®ÅµÅ¥ iÅÓlŒÅעŘÅžÅÅ¢ˆÅÅʠŶ}Ó}œÅØiÅliÅÓlÂÅӊÅÅʠśŨœÅąÅiÅl›ÅÅƯÀşÅÅÊ Commercial Network, State Bank of India, New Delhi (1997-99)

¢ÅwŶ‹ÅŘÅiÅÓl¤›ÅŸÅÔiÅlŠť¢ˆÅ - Regional Manager of SBI (Western Rajasthan) (1995-1997).

f˜ÅiÅÓl›ÅЮťiÅÓldÅĈŢťµ}ªÅÊ ÅdŘÅΞŮÅÅÔŸÅÔÀÅÅʘÅh¶ÅœÅÅÊdÅÅe¯ÅľÅÅe¥ŸÅԛŸ¬ÅÅžÅÅ¢ˆÅÅÊ Å His earlier International experiences include starting the
first Indian Commercial Banking operations in China (SBI
®ÅÅÅƇÅÅÆw ÅiÅlœÅØÅÆiÅÄlºÅ›ÅÅÆ¢ÀÅŬŘÅiÅlůÅΞÅŢĞŘÅŋť dşŢÅÊiÅlÅdÅÅƛŨliÅlÅ®ÅhÅƯŠÅÅ
Shanghai) and Board positions in various SBI subsidiaries in
ŸÅÔÅÆ®ÅÅƞŚÅh¶ÅœÅÅÊdÅÅe¥¶Å¸Å ÅiÅlÅÔŸÅÔœÅÅӃ¥ŸÅԛŌŶÅÅʘÅ¢¸˜ÅÅeˆ ÅÅÅƌ¯ÅÅÅƟŬÅ¢¸Óß North America, Africa and Asia.

109
®ÅˆÅ¥ŸÅŘÅŸÅÔ ®ÅÓ dÅÅe}ÅʶÅÅÊ wÅӘÅÓ®ÅÅhiÅl ÅИŃÅʛÅÅÊ ¶Å壘Å¶ÅÓ ¶ÅĜÅиÅӘÅÓ iÅÓl¶ÅŋÅ Currently, he is associated with ITC Geneva (a UNDP
¶ÅŋÅh˜Åh¶Åe¥œÅÅÊh¶Åe¥h˜Å¶ÅÅʃÅÊe¥hiÅm¶ÅeÄÅƃ Å˜ÅiÅlÅfÄÅƶŬÅdÅÅۛÅldÅÅÅƜť}ªÓ¯Å˜ÅiÅÓl organization) as also 2 US based international consultancy
organizations – M/s. Gerson Lehman Group and M/s. Bower
›ÅטŬÅÅÔiÅÓlÝwÅÅÆ¢hÅƘŇÅÅ¥ ÅiÅliÅÓl¤›ÅŸÅÔiÅlŠťiÅl¢˜ÅÓiÅÓldŬÅÅ®ÅÅŒÅÓ ÅÐh¶ÅdÅŅÅÅÅÆ¢ˆÅ Asia Group apart from working as an arbitrator through the
dÅĈŢ¢Åµ}ªÅÊ Å ›Å¢ÅŸÅ¯Å¥˜Å ¶Å壘ÅÅÔ ŸÅӶŶť ºÅӶť˜Å ¬ÅÓ¸ŸÅŘÅ ºÅ¨Î›Å dÅÅ×¢ ŸÅӶŶť œÅÅӮŢ panels of NSE/BSE/NCDEX/Indian Council of Arbitration
hÅƯŠÅźŨΛÅiÅÓl¶ÅŋÅžÅÅÊ ¶ÅĜŐ¸Øße¶ÅiÅÓldÅÅƈÅÅÆ¢‰Ålf˜¸ÅԘÅÓ dÅĈŢŵ}ªÅÊ Å® ÅśÅÅ¢ in addition to contributing columns in various economic
¾Å¢Ó¬ÅÐ dŋť® Å®Å¶‹ÅŶÅĜÅąÅÅÊ ŸÅΌ ÌÅÔ ÅÆ®ÅÅƞŚÅdÅÅÅƋťiÅl¶ÅŸÅÅÀÅÅ¢›ÅŠÅÅÔ h®ÅÄ ŸÅ׺ÅwÅÅʘÅÅÔ ŸÅÔ newspapers and magazines on issues relating to international
trade/ domestic economy.
iÅlÅ۬şÅÅƬÅnÅÓ¸Øß
Shareholding in IOB : He does not hold any shares of the Bank
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Åf˜ÅiÅÓl›ÅŶÅœÅØiÅliÅlÅÊeÅÆiÅm®Å}ÅʯÅӠޅÅÅÅÆ¢ˆÅŘŸÅ˸×ß
Other Directorships : Shri T C A Ranganathan is an independent
dŘ ÅÅƘŌӯÅiÅlˆÅųÅÅÊ}ÅʶÅÅÊh¢ÄºÅ˜ÅŋŘÅÅƘş˜ÅŸÅă¬ÅÅÔiÅÓlºÅ×¢iÅlŠťiÅlÅ¢ÅÊÅƘŌӯÅiÅl¸× non executive Director on the boards of :
 dÅÅe¶ÅÅÊhŸÅhiÅlÅdÅÅe›ÅÅÊh a) IPA of ICMA
 h¶ÅdÅÅeh¶ÅÅƬÅÅƟÅ}Ӄ b) SIS Ltd.
 dÅÅ¢hh¬ÅºÅ¨Å¸iÅlfˆ›ÅŌÅƬÅÅƟÅ}Ӄ c) RAL Consumer Products Ltd.
 dÅÅÓÅÆ¢ ÅÄ}e¬ÅÓÅÆiÅm}ªiÅlÅƬÅÅƟÅ}Ӄ d) Orient Electric Limited

 ³ÅÅÊdÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ 2. Shri R Subramaniakumar

 ›Å¨œÅąÅÅƘŌӯÅiÅlh®ÅĶÅÅÊe¥dÅÅÓ Managing Director & CEO
iÅlÅÓiÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅliÅÓl¤›ÅŸÅÔiÅlŠťžÅÅ¢¶ÅĞÅŬÅÅß
f˜¸Ô¶ÅÓˆÅiÅlˆÅÅʘÅŸÅŸiÅlÅÊdÅ®ÅÅƅŸӈÅΛŨœÅąÅÅƘŌӯÅiÅl®Å Appointed as Executive Director w.e.f. 29.09.2016
ŸÅÎn ÅiÅlŠť›ÅŬÅiÅldÅÅƅÅiÅlÅ¢ÅÊiÅlÅdÅÅƈÅÅÆ¢‰Ål›Å¨žÅÅ¢¶ÅÅ؛ÅźŠÅÅdÅÅ×¢¶ÅÓ Entrusted with the Additional charge of MD & CEO for a period
dźŬÅÓŸÅŸiÅlÅÊdÅ®ÅÅƅÅiÅÓlÅƬÅh›Å¨žÅÅ¢¶ÅÅ؛ÅźŠÅÅ of 3 months from 11.11.2016 to 10.02.2017 and for a period of
¶ÅÓhŸÅƒÅʮŶÅÅÊe¥dÅÅÓiÅÓl›ÅŒ›Å¢ÅƘŠÅΉÅl another 3 months from 28.02.2017.

dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Appointed as MD & CEO w.e.f. 05.05.2017

Age and Date of Birth : 59 Years – 15.06.1959
 ÅÅÓº ÅˆÅÅœÅÅÊh¶Å¶ÅÅʶÅÅÊhdÅÅedÅÅeœÅÅÊiÅÄl› ÅÐ}¢ÅÆ®ÅyÅŘÅŸÅÔ ›ÅÅÓ¶}ºÅ¨×wÅÎh}Åƃ›¬ÅÅӟÅÅ
¶ÅÅÊdÅÅeh¶Åh¶ÅÅÊdÅÅeh¶ÅhŸÅ Qualification: B.Sc., CAIIB, Post Graduate Diploma in
Computer Science, CISA, CISM
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅe¥ƒÅÊiÅÓl¤›ÅŸÅÔ
   hŸÅƒÅʮŶÅÅÊe¥dÅÅÓiÅÓl¤›ÅŸÅÔ Date of Appointment : 29.09.2016 (as ED)
05.05.2017 (as MD & CEO)
®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ
Date of expiry of the Current term : 30.06.2019
dŘÅΞŮÅ
Experience :
dÅÅe¥dÅÅӜÅÅÊ ŸÅÔ dÅŘÅÓ iÅÓl›ÅЮť wŘŮŢÅÊ ˆÅiÅl®ÅÓ eÄÅƃ Å˜ÅœÅØiÅliÅÓliÅlŠť›ÅŬÅiÅl Prior to joining IOB, Shri. R. Subramaniakumar was Executive
ÅƘŌӯÅiÅl‹ÅÓßeÄÅƃ Å˜ÅœÅØiÅliÅÓliÅlŠťiÅlÅ¢ÅÊÅƘŌӯÅiÅliÅÓl¤›ÅŸÅԮŸnÅΌ¢ÅhŸÅh¶ÅhŸÅe¥ Director of Indian Bank since 22nd January 2016. As Executive
dÅÅ×¢dŘ Å® ÅŮŶÅÅÅÆ ÅiÅl®ÅÅÆ}¥iÅl¬ÅiÅÓl¯ÅΞÅŢĞÅiÅÓl¶ÅŋÅ® ÅśÅÅ¢›ÅÅÆ¢®ÅˆÅ¥˜Å¬ÅŘÅÓ ŸÅÔ Director of Indian Bank, he was instrumental in bringing the
ŸÅ¸ˆ®Å›ÅЇť žÅÐÅƟÅiÅlÅ ÅƘŞÅÅe¥ßf˜¸ÅԘÅÓ ˜Åh fˆ›ÅŌÅÔ dÅÅ×¢ ¶ÅÓ®ÅÅdÅÅÔ iÅÓl ¶ÅŋÅ ÅƃÅÆÝwÅ}¬Å business transformation with introduction of Retail, MSME
& other business verticals. He spearheaded Digital Banking
œÅØÅÆiÅÄlºÅ›ÅÅÆ¢®ÅˆÅ¥˜ÅŸÅÔ ŸÅ¸ˆ®Å›ÅЇť žÅÐÅƟÅiÅlÅÅƘŞÅÅe¥ß¯ÅΣdÅňÅŸÅÔ ³ÅÅÊ dÅÅ¢h¶ÅiÅÎlŸÅÅ¢ transformation with new products & services. Earlier,
›ÅÄwÅŜŘÅӯŘŬÅœÅØiÅlŸÅÔ¯ÅÅÅƟŬŸÎhdÅÅ×¢ˆÅÅʘÅŒ¯ÅiÅlÅÔ¶ÅÓdÅÅƅÅiÅl¶ÅŸÅ ÅˆÅiÅl®Å¸ÅÜiÅlŠť Shri. R. S. Kumar joined Punjab National Bank and served
ÅÆiÅl ÅÅß›ÅÄwÅŜŘÅӯŘŬÅœÅØiÅlŸÅÔ dśŘÅÓ iÅlŠťiÅlŬÅiÅÓlŒÅעŘŮŸœÅÅʛÅÅÊdÅÅ¢dŞ ÅŶÅ for more than three decades. During his stint in Punjab
iÅÓl¶ÅŋÅœÅØiÅliÅÓliÅlÅÓ¢œÅØÅÆiÅÄlºÅiÅlÅ ÅÅ¥˜®Å Å˜ÅdÅÅ×¢›Å¨ÅהÅÅÓÅƺÅiÅlÅʛŸ¬ÅÅÔiÅlŘÅӈÅ҈®ÅÅÆiÅl ÅÅ National Bank, he lead the core banking implementation and
dÅÅ×¢hÀÅdÅÅ¢®Å×iÅlÅƬ›ÅiÅlÀÅטŬśŨÅהÅÅÓÅƺÅiÅlÅÊnÅΌ¢ÅhŸÅh¶ÅhŸÅe¥˜Åe¥® ÅŮŶÅÅÅÆ ÅiÅl technology initiatives of the Bank, along with BPR exercise,
and lead the “Pragati” – transformation exercise across HR,
›Å¸¬ÅÅÔŸÅÔ›ÅÅÆ¢®ÅˆÅ¥˜ÅdŞ ÅŶÅdÅÅÅƌÂÅӊÅÅÔŸÅÔ›ÅÅÆ¢®ÅˆÅ¥˜ÅdŞ ÅŶśŨºÅÅƈÅiÅlŘÅӈÅ҈®Å
Alternate Channel, Technology, Retail, MSME, New Business
ÅÆiÅl ÅÅ ß ®Å¸ žÅÐ}ŘÅ iÅÓl ƒªÏiÅl ›ÅÅÊh˜ÅœÅÅÊ iÅÓl œÅÅӃ¥ ŸÅÔ ‹ÅÓß f˜¸ÅԘÅÓ ›ÅÅÊh˜ÅœÅÅÊ ŸÅÔ dśŘÅÓ Initiatives, etc. He was on the Board of “Druk PNB”, Bhutan.
iÅlŠťiÅlŬÅiÅÓlŒÅעŘÅÅÆ®ÅÅƞŚÅ® ÅŮŶÅÅÅÆ ÅiÅl®ÅÅÆ}¥iÅl¬ÅÅÔŸÅÔiÅlŠťÅÆiÅl ÅŸ×dÅÅ×¢¶ÅŋŸÅÊ He has experience across various business verticals and also
f˜¸ÅԘÅÓ›ÅÅÊh˜ÅœÅÅÊŸÅÔdśŘÅÓiÅlŠťiÅlŬÅiÅÓlŒÅעŘÅdÅÄÀŬśŨŸÅÎnÅiÅÓl¤›ÅŸÅÔžÅÅÊiÅlŠťdÅÅ×¢ served as Zonal Head during his tenure at PNB and introduced
®ÅÅÆ}¥iÅl¬ÅŸÅÔiÅle¥dÅÅƞŘŮÅœÅØÅÆiÅÄlºÅ¶ÅŸÅŅÅŘÅ›ÅÓ¯ÅÅÆiÅlh¸Øßf˜ÅiÅÓldÅÅƞŘŮÅdÅÅ¢dÅÅ¢œÅÅÊ many innovative banking solutions across the verticals. His
¶ÅÅʜÅÅÊh¶ÅŸÅÅۃ¬ÅiÅlÅÓ iÅle¥ dŘ ÅœÅØiÅlÅÔ –Å¢ÅdśŘÅÅ ÅźŠÅÅße¶ÅiÅÓl¶ÅŋŸÅÊ f˜¸ÅԘÅÓ innovative RRB CBS model was adopted by many other
banks. He also championed the FI model.
h›ÅldÅÅeŸÅÅۃ¬ÅŸÅÔžÅÅÊdśŘÅÅ ÅÅӺŌŘÅÅƌ ÅÅß
As part of customer service enhancement exercise, he
ºÅ¨Å¸iÅl¶ÅÓ®ÅÅÅÆ®ÅiÅlŶÅiÅlÅÅƸ¶¶ÅÅ¢¸ˆÅÓ¸Îhf˜¸ÅԘÅÓiÅle¥ºÅ¨Å¸iÅl¶ÅÓ®ÅÅ®ÅÒÅƐ›Å¸¬ÅÅÆwŶşÅÔ established the contact centre practice in PNB apart from

ºÅ¨Å¸iÅl›Å¸¬ÅÓ

iÅlÅÊ …ÅÅ¢‡ÅÅiÅlůÅΞÅŢĞÅiÅl¢˜ÅÓ iÅÓldŬÅÅ®ÅÅ›ÅÅÊh˜ÅœÅÅÊ ŸÅÔ ¶ÅěÅiÅ¥liÅÔl• introducing many Customer Service enhancing initiatives
iÅlÅʶ‹ÅśŘÅÅiÅlÅÊß including "Customer First" concept.

110
}ÓiÅm˜ÅÅÓ œÅØiÅl¢¸ÅӈÅÓ ¸Îhf˜¸ÅԘÅÓ ›Å¨ÅהÅÅÓÅƺÅiÅlÅÊ ®ÅÅƮʼnÅÅʠŶşÅÅ®ÅӯŘÅÅƮŵŠÅiÅlÅÆ®ÅÅƞŚÅ Being a techno Banker, he contributed in various IBA & IDRBT
dÅÅeœÅÅÊh ˆÅ‹ÅÅ dÅÅeƒÅÊdÅÅ¢œÅÅÊ}ÅÊ ¶ÅÅƟÅÅƈŠÅÅÔ ŸÅÔ  ÅÅӺŌŘÅ Åƌ ÅÅ dÅÅ×¢ ®ÅÓ ¶ŸÅÅ}¥ iÅlŃ¥ committees on technology & FI and was core member of the
Smart Card and Micro ATM Standards Committee. He was
ˆÅ‹ÅÅŸÅÅekÅlÅÓ h}ÅÊhŸÅ¶}؃ƒÃ¢Ã¶Å¶ÅÅƟÅÅƈÅiÅÓliÅlÅÓ¢¶ÅŒ¶ Å‹ÅÓß®ÅÓ dÅÅeƒÅÊdÅÅ¢œÅÅÊ}ÅÊ
a guest faculty at IDRBT, Hyderabad and RBI Staff Training
¸×Œ¢ÅœÅŌˆÅ‹ÅÅžÅÅÅÆ¢œÅØ ›Å¨ÅƯÅÂŇÅiÅÓl˜•ÀÅӚÅ× ŸÅÔ dÅÅƈÅÅƋŶÅÄiÅlÅ Å‹ÅÓßdśŘÅÓ ®ÅµÅ¥
College, Chennai. He has worked in various positions and
iÅÓlœÅØÅÆiÅÄlºÅiÅlÅÆ¢ Å¢ŸÅÔf˜¸ÅԘÅÓÅÆ®ÅÅƞŚÅ›ÅŒÅԛŢdÅÅ×¢ÅÆ®ÅÅƞŚÅÂÅӊÅÅÔŸÅÔiÅlŠťÅÆiÅl ÅÅß geographies during his career spanning 36 years in the industry.
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Å¯ÅӠŢ Shareholding in IOB : 17,285 Shares
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å Other Directorships : Nil

 ³ÅÅÊiÅÓl¶®ÅşÅÅʘÅŋŘÅ 3. Shri K Swaminathan

 iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director

dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 56 Years – 30.07.1962

 ÅÅÓº ÅˆÅÅœÅÅÊiÅlÅ۟ŶÅÅÊhdÅÅedÅÅeœÅÅʶÅÅÊh›ÅlhhdÅÅe¶ÅÅʃœ¬ ÅÐh Qualification : B.Com., CAIIB, C.F.A., AICWA

ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ Date of Appointment : 17.02.2017

®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ Date of expiry of the Current term : 16.02.2020
dŘÅΞŮÅ Experience :

³ÅÅÊ iÅÓl¶®ÅşÅÅʘÅŋŘŘÅÓ iÅlÅÓ ÀÅӚÅ× ›ÅÅÆ¢®ÅÅÊÂÅŅÅÅʘÅdÅÅƅÅiÅlÅ¢ÅÊ iÅÓl¤›ÅŸÅÔ Shri K Swaminathan joined the Bank on 10.6.1985 as
Probationary Officer at Chennai and worked at various
œÅØiÅlŸÅÔ ¯ÅÅÅƟŬŸÎhˆÅ‹ÅÅœÅØÅÆiÅÄlºÅiÅÓl¶ÅžÅÅÊ dÅÅ ÅşÅÅÔ iÅlÅyÅŘÅ®ÅdŘÅΞŮśŨśˆÅiÅl¢ˆÅÓ
Branches under different capacities in Rural/Semi urban and
¸ÎhžÅÅ¢ˆÅiÅÓlÅÆ®ÅÅƞŚÅºÅ¨ÅŸÅÅʇÅdŅť¯Å¸¢ÅʯŸ¢ÅʛŨ¯ÅŶÅÅƘÅiÅliÅlÅ ÅÅ¥¬Å ÅÅÔŸÅÔiÅlŠť Urban Branches/administrative offices PAN India gaining rich
ÅÆiÅl ÅÅßf˜ÅiÅlŸÅĺÅiÅlÅĺÅŸÅÔžÅÅÊÀÅÅ¢®ÅµÅÅÖiÅlÅiÅlŠťiÅlŬÅ¢¸Åß experience and knowledge in all domain of Banking. He also
had a four year stint in Hongkong.
®ÅÓŸÅÎn ÅÂÅӊÅÅʠśŨœÅąÅiÅliÅÓl¤›ÅŸÅԟŌ΢׮Ÿ׌¢ÅœÅŌÂÅӊÅiÅÓl›Å¨ŸÅÎnÅ¢¸ÀÅÎiÅÓl¸ØߟŸÅ
›Å¨œÅąÅiÅliÅÓl¤›ÅŸÅÔ f˜ÅiÅlÅÊ ›ÅŒÅӚÅÅƈÅiÅlÅÓ ¸Îe¥ dÅÅ×¢f˜¸Ô iÅlÅۛÅÅÕ¢Ó}ŠÅ«‡Å Shri K Swaminathan headed Madurai and Hyderabad Regions
as Chief Regional Manager and contributed significantly for
›ÅΘŶŦ¢ÀŘÅÅÅƮŞÅźÅˆÅ‹ÅÅÅƟŃiÅlÅۛÅÅÕ¢Ó}ÅƮŞÅźÅiÅÓlŸÅ¸Å›Å¨œÅąÅiÅliÅÓl¤›ÅŸÅÔ iÅÔl•ÅÊ Å
the development of the Bank. He was elevated as General
iÅlÅ ÅÅ¥¬Å ÅŸÅÔˆÅטÅňÅÅÆiÅl ÅźŠÅÅß Manager on 1.9.2014 and posted to Central Office as GM of
iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅliÅÓl¤›ÅŸÅԛŌÅӚňŸÅӘÅÓiÅÓl›ÅЮťf˜¸ÅԘÅӟŸśŨœÅąÅiÅliÅÓlˆÅÅ×¢›Å¢ Corporate Debt Restructuring Department and Mid Corporate
Department.
ŸÅÎĜÅe¥ dÅÄÀŬÅÅÆwŶşÅÔ ÂÅӊůÅÅÅƟŬŸØiÅÓldÅÄÀŬśŨŸÅÎnÅiÅÓl¤›ÅŸÅÔ iÅlŠť ÅÆiÅl ÅÅß
ºÅ·ŮʼnÅÅ dÅÅÅƶˆÅ ÅÅÔ ŸÅÓÄ ¶Å΅ÅÅ¢ }ÅÊh}ÅÊ iÅlÅÓ iÅlŸÅ iÅl¢˜ÅÅ  dŘÅwÅ¥iÅl dÅÅÅƶˆÅ ÅÅÔ iÅlÅÊ Before his elevation as Executive Director, he was heading
Mumbai Zone, comprising of 7 western Regions. Improving
®Å¶ÅЬÅÅʺŨŸiÅlÅƃ¬ÅÅe}›Å¢wÅÅÓ¢ŒÓ˜ÅÅeˆ ÅÅÅƌdÅŘÅÓ ®ÅŬÅÓ Åƌ˜ÅÅÔ ŸÅÔ f˜ÅiÅÓl›Å¨ŸÅÎnÅ
quality assets, minimizing TAT, recovering non performing
hwÅԃŸØß assets and targeting customer delight are his main agenda.
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Å¯ÅӠŢ Shareholding in IOB : 18085 Shares
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å Other Directorships : Nil

4. ³ÅÅÊdÅwÅ ÅiÅÎlŸÅÅ¢³ÅÅÊ®ÅŶˆÅ®Å 4. Shri Ajay Kumar Srivastava

 iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 51 Years – 15.10.1967
 ÅÅÓº ÅˆÅÅœÅÅÊh¶Å¶ÅÅÊdÅÅÛĘŶť¶ÅÅÊhdÅÅedÅÅeœÅÅÊžÅźÅ Qualification : B.Sc. (Hons), CAIIB Part I
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ Date of Appointment : 09.10.2017
®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ Date of expiry of the Current term : 08.10.2020
dŘÅΞŮÅ Experience :

³ÅÅÊ dÅwÅ ÅiÅÎlŸÅÅ¢³ÅÅÊ®ÅŶˆÅ®Å˜ÅÓ iÅlÅÓ iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅliÅÓl¤›ÅŸÅÔ Shri Ajay Kumar Srivastava has assumed Office as Executive
iÅlŠťžÅÅ¢ºÅ¨¸‡ÅÅÆiÅl ÅÅße¶ÅiÅÓl›ÅЮť®ÅÓe¬ÅŸŜÅŌœÅØiÅlŸÅÔ›ÅlÅʬƒŸÅ¸Å›Å¨œÅąÅiÅlÅƌ¬¬ÅÅÊ Director of Indian Overseas Bank on 9th October 2017. Prior
to this he was working as Field General Manager- Delhi with
iÅÓl¤›ÅŸÅÔiÅlŠť¢ˆÅ‹ÅÓß
Allahabad Bank.

111
f˜¸ÅԘÅÓ dśŘÅÓ iÅlÅÆ¢ Å¢ iÅlÅÊ ¯ÅΣdÅňÅ  ŸÅÔ e¬ÅŸŜÅŌ œÅØiÅl ŸÅÔ ›ÅÅÆ¢®ÅÅÊÂÅŅÅÅʘÅ He started his banking career as Probationary Officer in
dÅÅƅÅiÅlÅ¢ÅÊ iÅÓl¤›ÅŸÅÔ iÅlÅÊ dÅÅ×¢dśŘÅÓ ®ÅµÅ¥ iÅÓlœÅØÅÆiÅÄlºÅiÅlÅÆ¢ Å¢ŸÅÔ f˜¸ÅԘÅÓ ŒÓ¯ÅiÅÓl 1991 with Allahabad Bank and during his banking career
spanning over 27 years, he has worked in various capacities
ÅÆ®ÅÅƞŚÅ žÅźÅÅÔ ÅÆwŶşÅÔ ›ÅlÅʬƒ dÅÅ×¢ ›Å¨¯ÅŶÅÅƘÅiÅl iÅlÅ ÅÅ¥¬Å Å ¯ÅÅÅƟŬÅ ¸Ø ŸÅÔ ÅÆ®ÅÅƞŚÅ
in different parts of the country which include Field as well as
ÂşňÅÅdÅÅÔŸÅÔiÅlŠťÅÆiÅl ÅÅß®ÅÓhiÅlÅƮŖŘÅiÅlŠťiÅÎl¯Å¬ÅdÅÅ×¢¸Åƒ¥iÅlÅÓ¢œÅØiÅl¢¸ØÅÆwظÔ Administrative Offices. He is an astute and hardcore banker
›ÅlÅʬƒiÅlÅÅƮůÅŬÅdŘÅΞŮÅ¸× ˆÅ‹ÅÅf˜¸Ô f‰Å¢›Å¨ŒÓ¯ÅºÅÎwŢňÅh®ÅÄ Åƌ¬¬ÅÅÊ iÅÓlœÅރÓ with vast field level experience and has the distinction of
®Å ŸÅ¸ˆ®Å›ÅЇť ÂÅӊÅÅÔ iÅlÅ ˜ÅӈÅ҈®Å iÅl¢˜ÅÓ iÅlÅ dŘÅΞŮÅ ›Å¨Å›ˆÅ ¸×ß f˜¸ÅԘÅÓ ¶ÅiÅlŢňŸÅiÅl having successfully led the largest and most critical areas of
¶ÅÄ¢ÀŘÅňŸÅiÅldÅÅ×¢¶ÅÅĶiÅÒlÅƈÅiÅl›ÅÅÆ¢®ÅˆÅ¥˜Å¬ÅŘÅÓŸÅԟŸˆ®Å›ÅЇťžÅÐÅƟÅiÅlÅÅƘŞÅÅ ÅÅʸØdÅÅ×¢ Uttar Pradesh, Gujarat and Delhi. He has been instrumental
ÂÅӊÅŸÅÔÅÆ®ÅÅƞŚÅ®ÅÅÆ}¥iÅl¬ÅiÅlŘÅӈÅ҈®ÅiÅl¢ˆÅӶşŠÅiÅle¥˜Åh›Å¸¬ÅÅÔiÅlůÅΞÅŢĞÅÅÆiÅl ÅÅ in bringing positive structural and cultural changes and took
many new initiatives while heading different verticals in the
¸×ß³ÅÅʳÅÅÊ®ÅŶˆÅ®Å˜ÅÓžÅÅ¢ˆÅ®ÅÅƮŌӯÅÅÔŸÅÔiÅÎl~›Å¨ÅƈÅÅƵˆÅ›Å¨ÅƯÅÂŇśŨśˆÅÅÆiÅl ÅŸ×ß field. Mr Srivastava has undergone some very prestigious
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Å¯ÅӠŢ training programmes both in India and abroad.
Shareholding in IOB : 18,746 Shares
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å Other Directorships : Nil

 ¶ÅγÅÅÊhӘÅÅÊwÅÅÛwÅ¥ŸÅ׋ ÅÐ 5. Ms Annie George Mathew

 ¶Å¢iÅlÅ¢˜ÅÅÅƟňÅÅÊ GoI Nominee
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 55 years - 21.10.1963
 ÅÅÓº ÅˆÅÅhŸÅh¶Å¶ÅÅÊ Qualification : M.Sc.

ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ Date of Appointment : 22.07.2016

®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅžÅÅ¢ˆÅ¶Å¢iÅlÅ¢iÅÓldźŬÅÓdÅŌӯňÅiÅl Date of expiry of the Current term : Until further orders from
Government of India
dŘÅΞŮÅ Experience :
dŞÅÅʮňťŸÅŘÅŸÅÔ® Å ÅÅƮŞÅźÅžÅÅ¢ˆÅ¶Å¢iÅlÅ¢ŸÅÔ¶ÅÄ ÅΉÅl¶ÅÅÆÀŮŸØß Ms. Annie George Mathew is presently the Joint Secretary,
Department of Expenditure, Government of India.
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Åf˜ÅiÅÓl›ÅŶÅœÅØiÅliÅlÅÊeÅÆiÅm®Å}ÅʯÅӠޅÅÅÅÆ¢ˆÅŘŸÅ˸×ß Shareholding in IOB : She does not hold any equity shares of
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å the Bank
Other Directorships : NIL
 ³ÅÅÊÅƘşť¬ÅÀÅČ 6. Shri. Nirmal Chand
 žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅliÅÓl˜ÅÅÅƟňÅÅÊ RBI Nominee
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 58 years - 31.01.1961
 ÅÅÓº ÅˆÅÅ›ÅÄwÅŜÅÅƮů®ÅÅƮŔÅŬŠÅiÅlÅʶ˜ÅňÅiÅlÅӉŢhŸÅœÅÅÊh®Å¶ÅÅÊhdÅÅedÅÅeœÅÅÊ Qualification : Post Graduate from Punjab University, M.B.A.,
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ CAIIB

®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅžÅÅ¢ˆÅ¶Å¢iÅlÅ¢iÅÓldźŬÅÓdÅŌӯňÅiÅl Date of Appointment : 13.03.2014

Date of expiry of the Current term : Until further orders from
dŘÅΞŮÅ Government of India
³ÅÅÊÅƘşť¬ÅÀÅČŸÅÔžÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅlŸÅÔ¯ÅÅÅƟŬŸÎhß Experience :
f˜¸ÅԘÅÓ žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮť œÅØiÅliÅÓlÅÆ®ÅÅƞŚÅiÅlÅ ÅÅ¥¬Å ÅÅÔ ŸÅÔ iÅle¥ ›ÅŒ›Å¢iÅlŠť ÅÆiÅl ÅÅß Shri Nirmal Chand joined the Reserve Bank of India in 1986.
›ÅЮť ŸÅÔ f˜¸ÅԘÅÓ žÅÅ¢ˆÅÅÊ Å ÅÆ¢ÝwŮť œÅØiÅl iÅÓl iÅÔl•ÅÊ Å iÅlÅ ÅÅ¥¬Å Å ŸÅÎĜÅe¥ iÅÓl ¶ÅŋÅ ¶ÅŋÅ He has held several positions in RBI's various Offices. He has
iÅlÅÓ¬ÅiÅlňÅÅwŠśÅ΢˜Åe¥ Åƌ¬¬ÅÅÊ dÅÅ×¢¢Å Å›Å΢ŸÅÔ dÅÅÆ®¶‹ÅˆÅÂÅӊÅÅÊ ÅiÅlÅ ÅÅ¥¬Å ÅÅÔ iÅÓl earlier worked in RBI's Central Office at Mumbai as well as
other Regional Offices at Kolkata, Jaipur, New Delhi and Raipur
œÅØÅÆiÅÄlºÅ ›Å Å¥®ÅÓÂŇÅ ÅƮŞÅźÅ ºÅ×¢ œÅØÅÆiÅÄlºÅ ›Å Å¥®ÅÓÂŇÅ iÅl¢Ô¶ÅÅÊ ›Å¨œÅąŘÅ dÅÅ×¢ žÅκňÅŘÅ
in the departments of Banking Supervision, Non-Banking
›Å¨‡ÅŬÅÅÊÅƮŞÅźÅŸÅÔiÅlŠťÅÆiÅl ÅÅß³ÅÅÊÅƘşť¬ÅÀÅČžÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅlÅƈţ®Å˜ÅĈśÅ΢ŸÅ Supervision, Currency Management and Payment Systems.
iÅÓlÂÅӊÅÅÊ ÅÅƘŌӯÅiÅliÅÓl¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅÅ‹ÅÅÅÆwŶÅiÅlÅdÅÅƅÅiÅlÅ¢ÂÅӊÅiÅÓl¢¬Å¢Åw Å Shri Nirmal Chand was the Regional Director of Reserve Bank
dÅÅ×¢¶ÅľÅ¯ÅÅÅƶňśŨŒÓ¯Å¬ÅÂŖÅʛňÅiÅl›Å×l¬ÅŸÎdÅŸ×ßf¶ÅiÅÓlœÅŌf˜¸ÅԘÅÓ žÅÅ¢ˆÅÅÊ Å of India (RBI), Thiruvananthapuram having jurisdiction over
State of Kerala and Union Territory of Lakshadweep. Later he
ÅÆ¢ÝwŮťœÅØiÅlÀÅăÅʺÅރiÅÓlÂÅӊÅÅÊ ÅÅƘŌӯÅiÅliÅÓl¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅÅ߮ňťŸÅŘÅŸÅÔ®ÅÓŸÅÎn Å
was the Regional Director of RBI, Chandigarh. Presently he
ŸÅ¸Å›Å¨œÅąÅiÅliÅÓl¤›ÅŸÅԶŢiÅlÅ¢ÅʮŜÅØiÅlnÅňÅÅÅƮŞÅźÅžÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅliÅÔl•ÅÊ Å is working as CGM in the Department of Government & Bank
iÅlÅ ÅÅ¥¬Å ÅŸÅÎĜÅe¥ŸÅÔiÅlŠť¢ˆÅ¸Øß Accounts at RBI Central Office, Mumbai.
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Å¯ÅИ Å Shareholding in IOB : He does not hold any equity shares of
the Bank
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å Other Directorships : Nil

112
 ³ÅÅʶÅÄwŠţĺÅ}Å 7. Shri Sanjay Rungta
 ¯ÅӠޅÅÅ¢iÅlÅƘŌӯÅiÅl Shareholder Director
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 53 Years – 26.01.1966
 ÅÅÓº ÅˆÅÅœÅÅÊiÅlÅ۟Åh›Ål¶ÅÅÊhh›Ålhh›Ål›ÅÅÊ Qualification : B.Com, F.C. A., F.A.F.P
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ Date of Appointment : 08.12.2017
®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ Date of expiry of the Current term : 07.12.2020
dŘÅΞŮÅ Experience :
Shri Sanjay Rungta from Mumbai has done B.Com from
³ÅÅÊ ¶ÅÄwÅ Å £ÄºÅ}Å ˜ÅÓ ¢ÅwŶ‹ÅŘÅ ÅƮů®ÅÅƮŔÅŬŠÅ ¶ÅÓ œÅÅÊiÅlÅ۟Å ÅÆiÅl ÅÅ dÅÅ×¢ ÀÅÅ}Ճ
Rajasthan University and is a practicing Chartered Accountant
dÅiÅlÅfÄ}Ô}iÅÓl¤›ÅŸÅÔ iÅlŠť iÅl¢¢¸Ó ¸× f˜¸Ô œÅØÅÆiÅÄlºÅÅƮʼnÅ®ÅiÅl¢ÅƘŅÅÅ¥¢‡ÅˆÅ‹ÅÅ with more than 28 years of experience in Banking, Finance &
¶ÅŮťwÅÅƘÅiÅl›Å¨Åe®ÅÓ}œÅØiÅliÅÓlÅƬÅhiÅlŠť iÅl¢˜ÅÓ iÅlŮŵÅÅÖ ¶ÅÓ dÅÅƅÅiÅliÅlÅdŘÅΞŮÅ Taxation and has been working for the Public/Private Sector
¸×ß®ÅÓŸÅӶŶťh¶Å›ÅÅʣĺ}Åh®ÅÄh¶ÅÅÓÅƶŠÅÓ}¶ÅiÅÓl®ÅÅÆ¢µ›Å¨œÅąÅ›ÅÅ}¥˜Å¢¸Ø¶ÅŋŸÅÊ®ÅÓ Banks. He is a Senior Managing Partner of M/s. S. P. Rungta
ƒÅÊhŸÅiÅÓlhÀÅe˜Å¶ÅÅÓ¬®ÅÔ¶ÅÅÊ¢Ó¶ÅЬ ÅжŘŶÅÅƮť¶Åh¬Åh¬Å›ÅÅÊŸÅÔžÅÅÊ›ÅÅ}¥˜Å¢¸Øß & Associates, Chartered Accountants. He is also a partner in
DMKH Insolvency Resolution Services LLP.
³ÅÅʤĺÅ}Å
Åƌ®ÅŬÅÅdÅÅ×¢Åƌ®ÅÅÅƬŠÅśŘÅœÅÅӃ¥dÅÅۛÅleÄÅƃ ÅÅ
dÅÅe¥œÅÅʜÅÅÊdÅÅe¥iÅÓl¶ÅŋÅ Shri Rungta is a ‘Registered Insolvency Professional’ (IP)

›ÅÄwÅÅÊiÅÒlˆÅÅƌ®ÅÅÅƬŠÅśŘÅ›ÅÓ¯ÅӮŢ
dÅÅe¥›ÅÅÊ¸×ß³ÅÅÊ ¶ÅÄwŠţĺÅ}ÅdÅŶÅÅÊhdÅÅe–ŢŠwith ‘Insolvency & Bankruptcy Board of India’(IBBI). He is
˜ÅÅÅƟňÅ

ÅƛŠŢ¢ÅÊ® ÅÎdŶť

iÅÓl›ÅטŬÅŸÅÔ ¯ÅÅÅƟŬÅ¸Ø dÅÅ×¢f˜¸ÅԘÅÓ ÅÆ®ÅÅƞŚÅ¶ÅÅÊh›ÅlŸÅÅÖ also on the panel of “Peer Reviewers” nominated by the ICAI
iÅlÅÊ ÅƛŠŢ¶ÅŸÅÅÊÂÅÅiÅlÅÊ ¸×ßœÅØÅÆiÅlºÅwźňÅŸÅÔ ¬ÅÓnÅśŢÅÊÂÅÅiÅÓldśŘÅÓ ®ÅÒ¸ˆÅdŘÅΞŮÅiÅÓl and has also conducted peer reviews of various CA firms in
dŬÅÅ®ÅÅf˜¸ÅԘÅÓiÅle¥›Å¨Åe®ÅÓ}®Å›ÅÅƜ¬ÅiÅl¶ÅÓiÅm}¢iÅlÅ¢›ÅÅӢӯŘÅœÅÅʟÅÅiÅÄl›ÅÅƘŠÅÅÔiÅÔl•ÅÊ Å accordance with the ICAI regulations in the last few years.
Apart from vast experience of audits of banking industry,
¶Å¸iÅlÅ¢ÅʶÅÅƟÅÅƈŠÅÅԶŢiÅlÅ¢ÅÊiÅÄl›ÅÅƘŠÅÅÔiÅlÅÅÆ®ÅÅƞŚÅ›Å¨iÅlÅ¢¶ÅÓ¬ÅÓnÅśŢÅÊÂŇÅÅÆiÅl ÅÅ he has also handled various types of assignments of many
¸×ß private and public sector corporations, insurance companies,
ÅƮźňŮŵÅÅÖŸÅÔf˜ÅiÅÓl–ŢŜÅØiÅliÅlÅʯÅÅnÅÅdÅÅÔŸÅÔÅÆ®ÅÅƞŚÅ›Å¨iÅlÅ¢iÅlÅʬÅÓnÅśŢÅÊÂÅÅ central cooperative societies, government companies.
wÅ׶ÅÓ ÅƘŠÅÅƟňÅdÅÅĈÅÅÆ¢iÅlÅƘŢÅÊÂŇŶÅěÅÅÅƯ®Å¥iÅl¬ÅÓnÅśŢÅÊÂÅŶÅÅÄÅÆ®ÅÅƅÅiÅl¬ÅÓnÅÅ In the last 28 years he has conducted various kinds of audits
of the Bank's Branches like regular Internal inspection,
›Å¢ÅÊÂÅÅh®ÅĶ}ÅÛiÅl¬ÅÓnÅśŢÅÊÂÅśŨŋÅÅƟÅiÅl›Å¨ÅƈŞÅÐÅƈŠÅÅÔiÅlÅŸÅЬ ÅÅÄiÅl˜Å¶ÅŮťwÅÅƘÅiÅl
Concurrent Audit, Statutory Audit and has conducted stock
ÂÅӊÅ iÅÓl œÅØiÅlÅÔ iÅlÅÊ dÅÅÓ¢ ¶ÅÓ œÅރÓ iÅlÅۛÅÅÕ¢Ó} ¾Å¢Ó¬ÅÐ f…ÅÅ¢iÅlˆÅÅ¥dÅÅÔ iÅlÅ ›Å¨œÅÅӅŘÅ dÅÅ×¢ audit, valuation of primary securities, due diligence and
¶ÅŸÅÎÅÆÀňŶÅŮŅÅŘÅÅÊ œÅ¢ˆÅ˜ÅÅeˆ ÅÅÅƌÅÆiÅl ÅÅwÅÅ¢¸Å¸×ßžÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮť œÅØiÅliÅÓl monitoring of large corporate domestic borrowers on behalf
¶ÅÅʃÅÊdÅÅ¢iÅlÂÅiÅÓldÅĈźťˆÅÅƘźŢŘÅÅʶÅĶ‹ÅŘÅiÅÓl¶ÅÅʃÅÊdÅÅ¢ÅÆkÅl ÅÅÅÆ®ÅÅƅÅiÅÓlˆÅ¸ˆÅœÅރÓ of Public Sector Banks. He was also appointed as concurrent
f…ÅÅ¢iÅlˆÅÅ¥dÅÅÔ¸ÓˆÅζÅěÅÅÅƯ®Å¥iÅl¬ÅÓnÅśŢÅÊÂÅiÅliÅÓl¤›ÅŸÅÔÅƘŠÅΉÅlÅÆiÅlhºÅ ÅÓ¸Øß auditor of large borrowers under the CDR mechanism by the
Monitoring Institution under CDR cell of RBI.
f˜¸ÅԘÅÓžÅÅ¢ˆÅdÅÅ×¢ÅƮŌӯÅÅÔŸÅÔ® ÅśÅiÅl¤›Å¶ÅÓ ÅŊÅÅiÅlÅʸ×ßf˜ÅiÅÓlÅƮůÅÓµÅÅƌ¬ÅÀŶ›ÅÅÊ He has widely travelled in India and abroad. His special
œÅØÅÆiÅÄlºÅÅƮʼnŶŸiÅlÅ¢ÅÊÂÅӊÅdÅÅ×¢¶ÅşÅÅÅÆwÅiÅliÅlŠťdÅÅÅƌŸÅÔ¸Øß interests are Banking, Finance, Cooperative Sector and Social
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Åf˜ÅiÅÓl›ÅŶÅœÅØiÅliÅÓleÅÆiÅm®Å}ÅʯÅӠ޸Øß Work etc.
Shareholding in IOB : He holds 600 shares of our Bank
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å
Other Directorships : Nil
 ³ÅÅÊiÅÓl¢¾ÅÎ
8. Shri K Raghu
 ¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ÅƘŌӯÅiÅl
Chartered Accountant Director
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť
Age and Date of Birth : 53 Years – 09.10.1965
 ÅÅÓº ÅˆÅÅœÅÅÊiÅlÅ۟Å®Åh›Ål¶ÅÅÊh
Qualification : B.Com., FCA
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ
Date of Appointment : 26.07.2016
®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ
Date of expiry of the Current term : 25.07.2019
dŘÅΞŮÅ
Experience :
¶ÅÅÊhiÅÓl¢¾ÅÎeĶ}ÅÊ}àÅÐ}dÅÅۛÅlÀÅÅ}ՃdÅiÅlÅfÄ}Ô}iÅÓl›ÅÓl¬ÅÅӶŌ¶ Å¸ØÅÆwظԮŵť¶ÅÓ CA K. Raghu is a Fellow member of the Institute of Chartered
dÅÅƅÅiÅliÅlÅ® Å®Å¶ÅÅÅÆ ÅiÅldŘÅΞŮŸ×dÅÅ×¢iÅÓl¢¾ÅήÅiÅlÅÓÀÅÅ}ՃdÅiÅlÅfÄ}Ô}œÅĺŬÅÅÓ¢ Accountants of India with more than 26 years of professional
iÅÓl®ÅÅÆ¢µ›ÅÅ}¥˜Å¢¸Øß standing and is the senior partner of K. Raghu & Co., Chartered
Accountants, Bangalore.
¶ÅÅÊhiÅÓl¢¾ÅÎ ˜ÅÓ ®ÅµÅ¥ ŸÅÔ eĶ}ÅÊÀ ÅÐ}dÅÅۛÅlÀÅÅ}ՃdÅiÅlÅfÄ}Ô}iÅÓldŅ ÅÂÅiÅÓl CA K. Raghu served as the President of the Institute of
¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅňŋÅŶÅÓˆÅiÅliÅlÅʮŵÅÅÓ¦iÅlÅÊdÅ®ÅÅƅÅiÅÓlÅƬÅhiÅÔl•ÅÊ Å Chartered Accountants of India during 2014-15 and as a
iÅlÅfÄÅƶŬÅiÅÓl¶ÅŒ¶ ÅiÅÓl¤›ÅŸÅÔiÅlŠťÅÆiÅl ÅÅß member of the Central Council for a period of 9 years from
2007 to 2016.

113
®ÅˆÅ¥ŸÅŘÅŸÅÔ®ÅÓÅƘş˜ÅŸÅԶŌ¶ ÅiÅÓl¤›ÅŸÅÔiÅlŠť¢ˆÅ¸Ø He is currently a Member of the following:
- The Board of International Federation of Accountants –
 ŒœÅÅӃ¥dÅÅۛÅleÄ}¢˜ÅׯŘŬÅ›ÅÓlƒ¢Ó¯Å˜ÅdÅÅۛÅldÅiÅlÅfÄ}Ô}öŘ ÅРÅÅÛiÅ¥l
New York.
 ¶ÅÅÆ}¥›ÅlÅeƒ ›ÅÅƜ¬ÅiÅl dÅiÅlÅfÄ}Ô}öÅ dÅÅۛÅl dÅÅÛ¶}ªÓÅƬŠÅÅ ˆÅ‹ÅÅ Œ eĶ}ÅÊ}àÅÐ} dÅÅۛÅl - Honorary Member of the Certified Public Accountants of
ÀÅÅ}¥ƒ¥dÅiÅlÅfÄ}Ô}öÅdÅÅۛÅldÅÅÛ¶}ªÓÅƬŠÅÅhă˜ ÅÐwÅÅʬÅ؃iÅÓl¶ÅŸŸÅÅÅƘňŶŌ¶ Å Australia and The Institute of Chartered Accountants of
Australia and New Zealand.
 ¶ÅÅÊhiÅÓl¢¾ÅΘÅÓÅÆ®ÅÅƞŚÅdŘ Å¶ÅĶ‹ÅŘÅÅÔdÅÅ×¢¶Å¢iÅlÅ¢ÅʶÅÅƟÅÅƈŠÅÅÔŸÅÔiÅlŠťÅÆiÅl ÅÅ
CA K. Raghu has served in various other Institutions and
wÅÅÓÅÆiÅlÅƘş˜Å®ÅˆÅ¸× Government Committees as under:
 œÅÅʟÅÅÅƘŠÅşÅiÅlh®ÅÄÅÆ®ÅiÅlŶśŨÅÅƅÅiÅl¢‡ÅdÅÅedÅÅ¢ƒÅÊhiÅÓlœÅÅӃ¥iÅÓl¶ÅŒ¶ Å - Member of the Board of Insurance Regulatory and
Development Authority (IRDA)
 ¬ÅÓnÅÅŸÅŘÅiÅlÅÔiÅÓl¢Åµ}ªÅʠŶŬşiÅlÅ¢¶ÅÅƟÅÅƈÅhÅƯŠÅÅh®ÅÄ›Å×ÅƯÅÅƛÅliÅldÅiÅlÅfÄ}Ô}
- Member of the Confederation of Asia and Pacific
iÅÓliÅÄlÅƛÅlƒ¢Ó¯Å˜ÅiÅÓl¶ÅŒ¶ Å Accountants, National Advisory Committee on Accounting
 œÅØiÅlÅÔ–Å¢ÅhiÅm¶ÅœÅÅÊdÅÅ¢h¬ÅdÅŅÅÅÅÆ¢ˆÅƒÓ}śŨ¶ˆÅÎÅƈÅiÅÓliÅlÅ ÅÅ¥˜®Å Å˜ÅiÅÓlÅƬÅhfÀÀÅ Standards
¶ˆÅ¢ÅʠŶÅÄÀÅŬŘŶÅÅƟÅÅƈŶŌ¶ Å - Member of the High level Steering Committee for
Implementation of XBRL based data submission by Banks.
 iÅlÅۛÅÅÕ¢Ó}›Å¨¯ÅŶŘÅiÅlÅۛÅÅÕ¢Ó}¶ÅşÅÅÅÆwÅiÅlf‰Å¢ŒÅÅƠň®ÅdÅÅ×¢iÅlÅۛÅÅÕ¢Ó}ŸÅşŬÅÅÔiÅÓl
- Member of the Working Group constituted by the Ministry
dŘ Å›Å¸¬ÅÎdÅÅÔ iÅÓlÂÅӊÅŸÅÔ iÅlÅۛÅÅÕ¢Ó}ŸÅşŬÅÅÔ iÅÓlŸÅĊÅŬŠÅ–ŢźÅÅƁˆÅiÅlŠťiÅlÅ¢ÅÊ of Corporate Affairs in the areas of Corporate Governance,
¶ÅŸÅиiÅÓl¶ÅŒ¶ Å Corporate Social Responsibility and other aspects of
Corporate Affairs
 ›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅÓl Ÿ ÅÐÀÅÎdŬÅ ›ÅÄlƒ dÅÅۛÅl ÅƶÅiÅm ÅÅÓÅÆ¢}ÅÊwÅ hă hiÅm¶ÅÀÅÔwÅ œÅÅӃ¥ dÅÅۛÅl
- Member of the Advisory Committee on Mutual Funds of
eÄÅƃ ÅśŢ¶Å¬ÅŸiÅlÅ¢¶ÅÅƟÅÅƈÅiÅÓl¶ÅŒ¶ Å
Securities and Exchange Board of India.
 iÅl˜ÅÅ¥}iÅlŸÅÔh˜ÅœÅÅÊh›Ål¶ÅÅÊiÅÓlÂÅӊÅÅÊ ÅÅƘźŢŘÅÅʶÅÅƟÅÅƈÅiÅÓl¶ÅŒ¶ Å - Member of the Regional Monitoring Committee of NBFCs
 žÅÅ¢ˆÅ iÅÓl ÅƘŠÅĊÅiÅl dÅÅ×¢ ŸÅ¸Å¬ÅÓnÅÅ ›Å¢ÅÊÂÅiÅl iÅÓl iÅlÅ ÅÅ¥¬Å Å –ŢŠºÅÅƁˆÅ in Karnataka.
¬ÅÓnÅśŢÅÊÂÅŶŬşiÅlÅ¢œÅÅӃ¥ iÅÓl¶ÅŒ¶ ÅiÅÔl•®Å¢Åw Å¸ÓˆÅÎ ¶ÅÅÊ ®ÅhwÅÅÊ –ŢŠ- Member of the Audit Advisory Board constituted by the
Office of the Comptroller & Auditor General of India, Member
ºÅÅƁˆÅ¶Å¢iÅlÅ¢ÅʬÅÓnÅÅŸÅŘÅiÅlÅÔiÅlÅʶŬşiÅlÅ¢¶ÅÅƟÅÅƈÅiÅÓl¶ÅŒ¶ Å of the Government Accounting Standards Advisory Board
 iÅlÅۛÅÅÕ¢Ó}ŸÅşŬÅÅÔ iÅÓlŸÅĊÅŬŠÅ–ŢźÅÅƁˆÅiÅlÅۛÅÅÕ¢Ó}ŸÅşŬÅÅÔ ›Å¢žÅÅ¢ˆÅ ÅÐiÅÓl (GASAB) for Union and the States constituted by C&AG.
eăÅÓ ÅÐiÅÓl}ŶiÅl›ÅlÅӶťiÅÓl¶ÅŒ¶ Å - Member of the India-UK (Indo-UK) Task Force on Corporate
Affairs constituted by the Ministry of Corporate Affairs.
 ¶ÅŮťwÅÅƘÅiÅlÅƮʼnŮŘÅÅÊÅƈÅiÅÓl¢Åµ}ªÅʠŘÅÅÊÅƈÅiÅlÅʛŨ¯ÅŶÅÅƘÅiÅlÅƘÅiÅlÅ ÅiÅÓl¶ÅŒ¶ Å - Member of the Governing Body of the National Institute of
 ›Å¨ˆ ÅÂÅ iÅl¢ iÅlÅ iÅÔl•ÅÊ Å œÅÅӃ¥ iÅlÅÊ iÅÔl•ÅÊ Å ›Å¨ˆ ÅÂÅ iÅl¢ ¶Å¬ÅŸiÅlÅ¢ ¶ÅÅƟÅÅƈÅ Public Finance and Policy.
¶ÅÅʃÅÊ}ÅÊh¶ÅÅÊdÅÅ×¢ÂÅӊÅÅʠśŨˆ ÅÂÅiÅl¢¶Å¬ÅŸiÅlÅ¢ÅÊ ¶ÅÅƟÅÅƈÅdÅÅ¢ƒÅÊ}ÅÊh¶ÅÅÊiÅÓl - Member of the Central Direct Taxes Advisory Committee
¶ÅŒ¶ Å (CDTAC) of Central Board of Direct Taxes and on Regional
Direct Taxes Advisory Committee (RDTAC).
 iÅlÅۛÅÅÕ¢Ó}ºÅ®Å˜ÅֶŸӈÅΘÅӯŘŬÅ›ÅlÅfăӯŘÅiÅlÅʶŢiÅlÅ¢ÅʶÅÅƟÅÅƈÅiÅÓl¶ÅŒ¶ Å - Member of the Governing Council of National Foundation
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Åf˜ÅiÅÓl›ÅŶÅœÅØiÅliÅlÅÊeÅÆiÅm®Å}ÅʯÅӠޅÅÅÅÆ¢ˆÅŘŸÅ˸×ß for Corporate Governance (NFCG).
Shareholding in IOB : He does not hold any shares of our Bank.
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å
Other Directorships: NIL

 ³ÅÅʘŮÅÅʘśŨiÅlůÅÅƶظÅ
9. Shri Navin Prakash Sinha
 ¯ÅӠޅÅÅ¢iÅlÅƘŌӯÅiÅl
Shareholder Director
dÅÅ ÅήÅw؟ÅÅƈÅÅƋŮŵť Age and Date of Birth : 56 years 15.10.1962
 ÅÅÓº ÅˆÅÅœÅÅÊhdÅÅۘŶťdŋť¯ÅŶŠÅ Qualification : BA (Hons) Economics
   žÅÅ¢ˆÅiÅÓlœÅÅʟÅŶÅĶ‹ÅŘŶÅÓ¬ÅÅe¶ÅԶśŨśˆÅ Licenciate of Insurance Institute of India
ÅƘŠÅÎÅƉÅliÅlÅÊÅƈÅÅƋÅ Date of Appointment : 08.12.2017
®ÅˆÅ¥ŸÅŘÅ}ŸÅ¥iÅlÅʶşÅÅÅƛˆÅÅƈÅÅƋÅ
Date of expiry of the Current term : 07.12.2020
dŘÅΞŮÅ Experience :
³ÅÅÊ ˜Å®ÅÅʘśŨiÅlůÅÅƶظÅiÅlÅÓ ÅƮʼnÅfˆ›ÅŌÅƮśŇŘÅŸÅŘŮŶÅĶÅŅŘśŨœÅąŘÅdÅÅ×¢ Shri Navin Prakash Sinha has vast experience in the field of
³ÅŸÅiÅlŘÅИÅÅƮůÅӵŤ›Å¶ÅÓ wÅÅÓ ›ÅԯŘźŨ×À ÅÎ}ÅÊ ®ÅdŘ ÅiÅlŸÅ¥ÀÅÅ¢ÅÊ ¬ÅŞÅ¶ÅÓ ¶ÅĜŐ¸× Financial Product Marketing, Human Resource Management
iÅlÅÅƮůÅŬÅdŘÅΞŮŸ×ß and Labour laws especially related to Pension, Gratuity, and
other Employees’ benefits.

114
ÅƮʼnÅÅÊ Åfˆ›ÅŌÅƮśŇŘÅ Financial Product Marketing:

‡ ¸wÅÅ¢ÅʜÅźÅ›Å}˜ÅÅdÅÅ×¢¸×Œ¢ÅœÅŌÅƃ®ÅÅÊwŘÅiÅÓl¶ÅÅÊÅƘŠŢÅƃ®ÅÅÊwŘŬÅŸÅטÅÓwÅ¢ ‡ $V D 6U 'LYLVLRQDO 0DQDJHU ,Q&KDUJH RI +D]DULEDJK
Patna and Hyderabad Division, he was responsible for
e˜ÅÀÅÅwÅ¥iÅÓl¤›ÅŸÅԮŸ¬ÅÅÆÂňśŨŒ¯Å¥˜Å›Å¨Å›ˆÅiÅl¢˜ÅÓiÅÓlÅƬÅhe˜ÅÅƃ®ÅÅÊwŘÅÅÔ
monitoring and controlling both marketing and servicing
iÅÓlˆÅ¸ˆÅ¶ÅžÅÅʯÅÅnÅÅdÅÅÔiÅlÅÊŸÅÅiÅÕlÅÆ}ĺÅdÅÅ×¢¶ÅÅƮťÅƶÅĺźÅÅƈÅÅÆ®ÅÅƅŠÅÅÔŒÅӘÅÅÔiÅlÅÊ activities of all branches under these Divisions for achieving
ÅƘźŢŘÅÅÊdÅÅ×¢ÅƘŠÅĊŇÅiÅÓlÅƬÅhÅÆwşŸÅӌŢ‹ÅÓß targeted performance.

‡ ÂÅӊÅÅÊ Å ›Å¨œÅąÅiÅlÅƮśŇŘÅ iÅÓl ¤›Å ŸÅÔ ®ÅÓ dÅÄÀŬÅ iÅÓl ÅƮśŇŘÅ ¢‡ÅÅƘÅÅƈŠÅÅÔ ‡ $VD5HJLRQDO0DQDJHU0DUNHWLQJKHZDVUHVSRQVLEOHIRU
developing and implementing Marketing strategies of the
iÅÓl ÅÆ®ÅiÅlŶÅ ®Å iÅlÅ ÅŦ®Å Å˜Å ˆÅ‹ÅÅ ÅƮśŇŘÅ ºÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ iÅÓl ›Å Å¥®ÅÓÂŇÅ ¸ÓˆÅÎ
Zone, Supervising marketing activities under Zone.
ÅÆwşŸÅӌŢ‹ÅÓß
‡ $VD&KLHI3 *6KHZDVLQYROYHGLQLQYHVWPHQWRI*URXS
‡ ›Å¨ŸÅÎnÅ›ÅÅÊ®ÅwÅÅÊh¶ÅiÅÓl¤›ÅŸÅÔ®ÅӶşÅи›ÅÅÓ}¥›ÅlÅÓÅƬŠÅÅÓiÅÓlÅƘŮÅӯşÅÔ¯ÅÅÅƟŬÅ portfolio which included daily monitoring of Financial
‹ÅÓÅÆwŶşÅÔÅƮʼnÅÅÊ ÅœÅÅwÅÅ¢ÅÔiÅlÅÊŒ×ÅƘÅiÅlÅƘźŢŘÅÅʶşÅÅÅƸˆÅ‹ÅÅÊß Markets.

ŸÅŘŮŶÅĶÅŅŘśŨœÅąŘÅ Human Resource Management:

‡ ÂÅӊÅÅʠśŨœÅąÅiÅl›ÅÅÊ ®ÅdÅÅedÅÅ¢iÅÓl¤›ÅŸÅÔ ®ÅÓ dÅÄÀŬÅiÅÓlŸÅŘŮŶÅĶÅŅŘÅ ‡ $V D 5HJLRQDO 0DQDJHU 3 ,5 KH ZDV UHVSRQVLEOH IRU
human resource management of the zone involving
›Å¨œÅąŘÅÅÆwŶşÅÔ ›ÅŒÅӚňÅÅÊ ®Å dÅÅƅÅiÅlÅÅÆ¢ ÅÅÔ iÅlÅ ›ÅŒ¶‹ÅśŘÅ ¯ÅÅÅƟŬÅ ¸× promotion and placement of officers.
ÅÆwşŸÅӌŢ¢¸Óß
‡ $V DQ DGGLWLRQDO 'LUHFWRU DQG 'LUHFWRU =7& *XUJDRQ KH
‡ wÅӃ}ÅʶÅÅʺÅÎƒÞ ºÅÅÄ®ÅiÅÓldÅÅƈÅÅÆ¢‰ÅlÅƘŌӯÅiÅldÅÅ×¢ÅƘŌӯÅiÅliÅÓl¤›ÅŸÅԮŸf‰Å¢ÅÊ was responsible for training of all officers & employees
ÂÅӊÅiÅÓl¶ÅžÅÅÊdÅÅƅÅiÅlÅÅÆ¢ ÅÅÔdÅÅ×¢iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅÓl›Å¨Å¯Æ ÅÂŇÅiÅÓlÅƬÅhÅÆwşŸÅӌŢ‹ÅÓ of Northern zone and developed it as a learning centre of
excellence.
dÅÅ×¢f˜¸ÅԘÅÓe¶ÅÓfˆiÅÒlµ}ˆÅÅiÅÓl¶ÅÅÊnŘÅÓiÅÓliÅÔl•iÅÓl¤›ÅŸÅÔÅÆ®ÅiÅlÅƶňÅÅÆiÅl ÅÅß
Labour laws especially related to Pension, Gratuity and
ÅƮůÅӵŤ›Å¶ÅÓ›ÅԯŘźŨ×À ÅÎe}ÅÊdÅÅ×¢dŘ ÅiÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅÓl¬ÅŞÅ¶ÅÓ¶ÅĜÅÄÅƅňÅ other employees’ benefits:
³ÅŸÅiÅlŘÅИÅß ‡ $VD&KLHI3 *6KHZDVUHVSRQVLEOHIRUPDUNHWLQJDQG
‡ ›Å¨ŸÅÎnÅ›ÅÅÊ ®ÅwÅÅÊ h¶ÅiÅÓl¤›ÅŸÅÔ ®ÅÓ iÅlÅۛÅÅÕ¢Ó}iÅlÅ ÅÅ¥¬Å ÅiÅÓl›ÅԯŘŮźŨΛŠadministration of Pension & Group Insurance vertical from
Corporate Office.
eį ÅÅӢԶŮÅÅÆ}¥iÅl¬ÅiÅÓlÅƮśŇŘÅh®ÅěŨ¯ÅŶŘŸӈÅÎÅÆwşŸÅӌŢ‹ÅÓß
Post held in LIC at Present/Past
®ÅˆÅ¥ŸÅŘÅžÅЈÅŸÅÔh¬ÅdÅÅe¥¶ÅÅÊŸÅÔ…ÅÅÅÆ¢ˆÅ›ÅŒ
‡ =RQDO 0DQDJHU ,Q &KDUJH RI 83 DQG 8WWDUDNKDQG IURP
‡ ¶ÅÓdŞÅÅʈÅiÅldÅÄÀŬśŨœÅąÅiÅlf›Å¨®Åf‰Å¢Ån҃iÅÓl›Å¨žÅÅ¢ÅÊiÅÓl 09.08.2018 till date
¤›ÅŸÅÔ
‡ 'LUHFWRU =RQDO 7UDLQLQJ &HQWUH *XUJDRQ IURP
‡ ÅƘŌӯÅiÅldÅÄÀŬÅ›Å¨Å¯Æ ÅÂŇÅiÅÔl•ºÅ΃ºÅÅÄ®ÅdÅiÅm}œÐ Å¢¶ÅÓˆÅiÅl October, 2017 till 08.08.2018
‡ dśŨ׬ŶÅÓ ÅƶňÅĜŢˆÅiÅldÅÅƈÅÅÆ¢‰ÅlÅƘŌӯÅiÅldÅÄÀŬśŨÅƯÅÂŇÅ ‡ $GGLWLRQDO'LUHFWRU=RQDO7UDLQLQJ&HQWUH*XUJDRQIURP
iÅÔl•ºÅÎރºÅÅĮŠApril, 2017 to September, 2017

‡ dśŨ׬Å  ¶ÅÓ dśŨ׬Å  ˆÅiÅl ›Å¨ŸÅÎnÅ ›ÅԯŘÅ ®Å ¶ÅŸÅи ¶ÅÓ®ÅÅÅƘŮÅÒÅƉÅ ‡ &KLHI3HQVLRQ *URXS6XSHUDQQXDWLRQ6FKHPHV&HQWUDO
 ÅÅÓwŘÅÅhÜiÅÔl•ÅÊ ÅiÅlÅ ÅÅ¥¬Å ÅŸÅÎĜÅe¥ Office, Mumbai from April, 2015 to April, 2017

‡ dśŨ׬ŶÅÓdśŨ׬ňÅiÅlÂÅӊÅÅʠśŨœÅąÅiÅlÅƮśŇŘÅŒÅÆÂŇÅiÅÔl•ÅÊ Å ‡ 5HJLRQDO 0DQDJHU 0DUNHWLQJ 6RXWK &HQWUDO =RQH
Hyderabad from April, 2012 to April, 2015
dÅÄÀŬŸ׌¢ÅœÅŌ
‡ 5HJLRQDO 0DQDJHU 3HUVRQQHO  ,QGXVWULDO 5HODWLRQV
‡ dśŨ׬ŶÅÓ dśŨ׬ňÅiÅlÂÅӊÅÅʠśŨœÅąÅiÅliÅlÅÅƟťiÅl®ÅdÅÅהÅÅÓÅƺÅiÅl Southern Zone, Chennai from April, 2011 to April , 2012
¶ÅĜÅąÅŒÅÆÂŇÅdÅÄÀŬÅÀÅӚÅ×
‡ 1DWLRQDO5HODWLRQVKLS0DQDJHU&KHQQDLIURP-XO\WR
‡ wÅάÅÅe¥¶ÅÓdśŨ׬ňÅiÅl¢Åµ}ªÅʠŶÅĜÅąÅ›Å¨œÅąÅiÅlÀÅӚÅ× April, 2011
‡ dźŶˆÅ¶ÅÓwÅάÅÅe¥ˆÅiÅlŸÅÎn Å›Å¨œÅąÅiÅlŸÅÅÛÅÆ¢¯Å¶Å ‡ &KLHI0DQDJHU0DXULWLXVIURP$XJXVWWR-XO\
‡ ŸÅe¥¶ÅÓdźŶˆÅˆÅiÅl¶ÅÅÊÅƘŠŢÅƃÅÆ®ÅÝwŘŬÅŸÅטÅÓwÅ¢e˜ÅÀÅÅwÅ¥ ‡ 6U 'LYLVLRQDO 0DQDJHU ,QFKDUJH RI +\GHUDEDG IURP
¸×Œ¢ÅœÅŌ May, 2006 to August, 2007
‡ ŸÅe¥¶ÅÓŸÅe¥ˆÅiÅl¶ÅÅÊÅƘŠŢÅƃÅÆ®ÅÝwŘŬÅŸÅטÅÓwÅ¢e˜ÅÀÅÅwÅ¥›Å}˜ÅÅ ‡ 6U 'LYLVLRQDO 0DQDJHU ,QFKDUJH RI 3DWQD 'LYLVLRQ IURP
May, 2004 to May, 2006
‡ ŸÅe¥ ¶ÅÓ ŸÅe¥ ˆÅiÅl¶ÅÅÊÅƘŠŢÅƃÅÆ®ÅÝwŘŬÅŸÅטÅÓwÅ¢e˜ÅÀÅÅwÅ¥
¸wÅÅ¢ÅʜÅźÅ ‡ 6U 'LYLVLRQDO 0DQDJHU ,QFKDUJH RI +D]DULEDJK 'LYLVLRQ
from May, 2002 to May, 2004.
dÅÅe¥dÅÅӜÅÅÊŸÅÔ¯ÅӠޅÅÅ¢‡Åf˜ÅiÅÓl›ÅŶŸŸÅÅ¢ÓœÅØiÅliÅÓl¯ÅӠ޸Øß
Shareholding in IOB : He holds 100 Shares of our Bank.
dŘ ÅÅƘŌӯÅiÅlˆÅůÅИ Å
Other Directorships : Nil

115
 ¾ÅÅӵŇÅÅ DECLARATION

e¶ÅœÅňÅiÅlÅÊ›ÅÎÅƵ}iÅlÅÊwÅňÅÅʸ×ÅÆiÅlœÅØiÅl˜ÅÓŸÅă¬ÅiÅÓl¶ÅžÅÅʶŌ¶ ÅÅÔdÅÅ×¢œÅØiÅliÅÓl®ÅÅÆ¢µ This is to confirm that the Bank has laid down a code of conduct
for all the Board Members and Senior Management (i.e., General
›Å¨œÅąŘÅ ÅŘÅÅÊ ŸÅ¸Å›Å¨œÅąÅiÅlÅÔiÅÓlÅƬÅhdÅÅÀÅÅ¢¶ÅÄÅƸˆÅÅÅƘŅÅÅ¥ÅÆ¢ˆÅiÅlÅÊ ¸× dÅÅ×¢e¶ÅÓ œÅØiÅl Managers) of the Bank and the said code is posted on the website
iÅlÅÊ®ÅӜŶÅÅe}›Å¢ƒÅ¬ÅÅƌ ÅźŠÅŸ×ߟÅă¬ÅiÅÓl¶ÅŒ¶ ÅÅÔdÅÅ×¢®ÅÅÆ¢µ›Å¨œÅąŘŘÅÓdÅÅÀÅÅ¢ of the Bank. The Board Members and Senior Management have
¶ÅÄÅƸˆÅÅiÅlÅdŘÅΛÅŬŘÅiÅl¢˜ÅÓiÅlÅÊ›ÅÎÅƵ}iÅlÅʸ×ß affirmed compliance with the Code of Conduct.
iÅÒlˆÅÓeÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl For Indian Overseas Bank

ÀÅӚÅ× dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ Chennai (R Subramaniakumar)

Åƌ˜ÅÅÄiÅl ›Å¨œÅąÅÅƘŌӯÅiÅl®Å¶ÅÅÊedÅÅÓ Date: 09.05.2019 Managing Director & CEO

¶ÅÓ®ÅÅŸÅÔ To
ÅƘŌӯÅiÅlŸÅă¬Å The Board of Directors
Indian Overseas Bank
eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl
Financial Statements of the Bank for the 12 months ended
iÅlÅÓ¶ÅŸÅśˆÅŸÅ¸ÅʘÅÅÔiÅÓlÅƬÅhœÅØiÅliÅlÅÅƮʼnÅÅÊ ÅÅƮŮŢ‡Å 31.03.2019

¶ÅӜÅÅÊÅƬÅÅƶ}ĺÅœÅŅ ÅˆÅÅhÄh®ÅěŨiÅl}ÅÊiÅl¢‡ÅdśÅÓÂÅÅhÄÅÆ®ÅÅƘŠşÅh¬ÅdÅÅӃÅÊdÅÅ¢ CEO/CFO Certification as per Regulation 17(8) of SEBI
(Listing Obligations and Disclosure Requirements)
iÅÓlÅÆ®ÅÅƘŠşÅiÅÓldŘÅζÅÅ¢¶ÅÅÊe¥dÅÅÓ¶ÅÅÊh›ÅldÅÅÓiÅlśŨŸÅŇÅÅÊiÅl¢‡Å Regulations, 2015 (LODR)
¶ÅӜÅÅÊÅƬÅÅƶ}ĺÅœÅŅ ÅˆÅÅhÄh®ÅěŨiÅl}ÅÊiÅl¢‡ÅdśÅÓÂÅÅhÄÅÆ®ÅÅƘŠşÅh¬ÅdÅÅӃÅÊdÅÅ¢iÅÓl In terms of Regulation 17(8) of SEBI (Listing Obligations and
ÅÆ®ÅÅƘŠşÅiÅÓldŘÅζÅÅ¢¸ŸÅ›Å¨ŸÅÅÅƇňÅiÅl¢ˆÅÓ¸ØÅÆiÅl Disclosure Requirements) Regulations, 2015 (LODR), we certify
that:
iÅl ¸ŸÅÅ¢ÅÊ wÅŘÅiÅlÅ¢ÅÊ dÅÅ×¢ÅƮů®ÅŶÅiÅÓldŘÅζÅÅ¢¸ŸÅ˜ÅÓ f‰Ål®ÅµÅ¥ iÅÓlÅƬÅhÅƮʼnÅÅÊ Å A. We have reviewed the financial statements and the cash
ÅƮŮއÅÅÔdÅÅ×¢˜ÅiÅlŒ›Å¨®ÅŸÅƮŮއÅiÅlÅʶşÅÅÊÂÅÅiÅlÅÊ¸× flow statement for the year and to the best of our knowledge
and belief:
 L e˜ÅÅƮŮއÅÅÔŸÅÔiÅlÅÓe¥žÅÅÊÅƮŮއÅÅƮŵŠÅiÅlÅÊ´ÅƵ}¶ÅӺŬňŘŸÅ˸נÅÅ
i. These statements do not contain any materially
e˜ÅŸÅÔiÅlÅÓe¥žÅÅʈŋ Å~ÅÓރŘŸÅ˺ŠÅŸנÅŞŨŸÅ›Å׌ÅiÅl¢˜ÅÓ®ÅŬÅÓœ ÅÅÓ¢Ó untrue statement or omit any material fact or contain
¯ÅÅÅƟŬŘŸÅË¸Ø statements that might be misleading;
 LL  ÅÓ ¶ÅžÅÅÊ ÅƮŮއÅœÅØiÅliÅÓlÅÆkÅl ÅÅiÅl¬ÅśÅÅÔ iÅlÅÊ ¶Åˆ ÅdÅÅ×¢¶Å¸ÅÊ Åƶ‹ÅÅƈÅ ii. These statements together present a true and fair
view of the Bank's affairs and are in compliance with
›Å¨¶ˆÅΈÅiÅl¢ˆÅÓ¸ØdÅÅ×¢ ÅӮňťŸÅŘŬÅÓnÅÅiÅl¢‡ÅŸÅŘÅiÅlÅԛŨžÅÅ®ÅÅÊiÅlŘÅИÅÅÔ existing accounting standards, applicable laws and
dÅÅ×¢ÅÆ®ÅÅƘŠşÅÅÔiÅÓldŘÅζÅÅ¢¸Øß regulations.
nÅ ¸ŸÅÅ¢ÅÊ wÅŘÅiÅlÅ¢ÅÊ h®ÅÄ ÅƮů®ÅŶÅiÅÓldŘÅζÅÅ¢œÅØiÅl˜ÅÓ ®ÅµÅ¥ iÅÓlŒÅעŘÅhÓ¶ÅÓ iÅlÅÓe¥ B. There are, to the best of our knowledge and belief, no
transactions entered into by the Bank during the year which are
¬ÅӘŌӘŘŸÅËÅÆiÅlh¸ØwÅÅÓ…ÅÅÓnÅŅÅރÅʛÅЇťºÅ×¢iÅlŘÅИÅÅʸÅÔ ÅÅœÅØiÅliÅlÅÊdÅÅÀÅÅ¢¶ÅÄÅƸˆÅÅiÅlÅ fraudulent, illegal or violative of the Bank's Code of Conduct.
f¬¬ÅľŘÅiÅl¢ˆÅÓ¸ÅÔß C. We accept responsibility for establishing and maintaining
ºÅ ¸ŸÅÅƮʼnÅÅÊ ÅÅÆ¢›ÅÅÓÅÆ}¦ºÅiÅÓlÅƬÅhdÅÅĈÅÅÆ¢iÅlÅƘŠÅĊŇŶ‹ÅÅÅƛňÅiÅl¢˜ÅÓ dÅÅ×¢œÅ˜ÅÅh internal controls for financial reporting and that we have
¢nŘÅÓiÅlÅÊÅÆwşŸÅӌŢÅʬÅӈÅӸ؈ŋÅŸŸÅ˜ÅÓÅƮʼnÅÅÊ ÅÅÆ¢›ÅÅÓÅÆ}¦ºÅ¶ÅÓ¶ÅĜÅÄÅƅňÅœÅØiÅliÅlÅÊdÅÅĈÅÅÆ¢iÅl evaluated the effectiveness of internal control systems of the
Bank pertaining to financial reporting and we have disclosed to
ÅƘŠÅĊŇÅ ›Å¨‡ÅŬÅÅÊ iÅlÅÊ ›Å¨žÅÅ®ÅiÅlÅÅÆ¢ˆÅÅ iÅlÅ ŸÅЬ ÅÅÄiÅl˜Å ÅÆiÅl ÅÅ ¸× dÅÅ×¢ e˜Å dÅÅĈÅÅÆ¢iÅl the auditors and the Audit Committee, deficiencies in the design
ÅƘŠÅĊŇÅÅÔiÅlÅÊ¢ÀŘÅÅ ÅÅ›ÅÅÆ¢ÀÅŬŘÅŸÅÔ ÅÅƌiÅlÅÓe¥iÅlÅƟŠÅÅĸÅÔÅÆwŶÅiÅlÅÊwÅŘÅiÅlÅ¢ÅʸŸÅÔ or operation of such internal controls, if any, of which we are
¸×dÅÅ×¢f˜¸Ô¶Å΅ÅÅ¢˜ÅÓiÅÓl¶ÅĜÅąÅŸÅÔ¸ŸÅÅ¢Ó–Å¢ÅÅÆiÅlhºÅhf›ÅÅ ÅÅÔ ÅśŨ¶ˆÅÅÅƮňÅf›ÅÅ ÅÅÔiÅlÅÊ aware and the steps we have taken or propose to take to rectify
wÅŘÅiÅlÅ¢ÅʸŸÅ˜ÅÓ¬ÅÓnÅśŢÅÊÂÅiÅlÅÔdÅÅ×¢¬ÅÓnÅśŢÅÊÂÅŶÅÅƟÅÅƈÅiÅlÅÓŒÅʸ×ß these deficiencies.
D. We have indicated to the auditors and the Audit Committee
¾Å ¸ŸÅ˜ÅÓ¬ÅÓnÅśŢÅÊÂÅiÅlÅÔdÅÅ×¢¬ÅÓnÅśŢÅÊÂÅŶÅÅƟÅÅƈÅiÅlÅÓÅƘş˜ÅÅƬÅÅÆnňÅwÅŘÅiÅlÅ¢ÅÊŒÅʸ×
i. Significant changes in internal control over financial
 L ®ÅµÅ¥ iÅÓlŒÅעŘÅÅƮʼnÅÅÊ ÅÅÆ¢›ÅÅÓÅÆ}¦ºÅ›Å¢dÅÅĈÅÅÆ¢iÅlÅƘŠÅĊŇÅŸÅÔ ŸÅ¸ˆ®Å›ÅЇť reporting during the year;
›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅÓlœÅÅ¢ÓŸÅÔ ii. Significant changes in accounting policies during
 LL ®ÅµÅ¥iÅÓlŒÅעŘŬÅÓnÅÅÄiÅl˜Å˜ÅÅÊÅƈŠÅÅÔŸÅÔ¸ÎhŸÅ¸ˆ®Å›ÅЇť›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅÓlœÅÅ¢ÓŸÅÔ the year and the same have been disclosed in the
notes to the financial statements; and
dÅÅ×¢f˜¸ÔÅƮʼnÅÅÊ ÅÅƮŮއÅiÅÓl˜ÅÅÓ}öÅŸÅԛŨiÅl}ÅÆiÅl ÅźŠÅŸ×dÅÅ×¢
iii. Instances of significant fraud of which we have
 LLL ŸÅ¸ˆ®Å›ÅЇť …ÅÅÓnÅŅÅÅÆރ ÅÅÔ iÅlÅÊ ¾Å}˜ÅÅhÄ ÅÆwŘÅiÅlÅÊ ¸ŸÅÔ wÅŘÅiÅlÅ¢ÅÊ ¸× dÅÅ×¢ become aware and the involvement therein, if
ÅÆwŘşÅԛŨœÅąŘÅ ÅÅiÅlŸÅ¥ÀÅÅ¢ÅʯÅÅÅƟŬŸ×wÅÅÓÅƮʼnÅÅÊ ÅÅÆ¢›ÅÅÓÅÆ}¦ºÅÅƮŵŠÅiÅl any, of the management or an employee having a
œÅØiÅliÅlÅÊdÅ؈ÅÅÆ¢iÅlÅƘŠÅĊŇśŨ‡ÅŬÅÅÊŸÅԟŸˆ®Å›ÅЇťžÅÐÅƟÅiÅlÅÅƘŞÅňÅÓ¸Øß significant role in the Bank's internal control system
over financial reporting.
¢Å…ÅÅ®ÅÔiÅl}iÅÒlµ‡Å˜Å dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ Radha Venkatakrishnan R Subramaniakumar
ŸÅ¸Å›Å¨œÅąÅiÅlh®ÅĶÅÅÊh›ÅldÅÅÓ ›Å¨œÅąÅÅƘŌӯÅiÅl®Å¶ÅÅÊe¥dÅÅÓ General Manager & CFO Managing Director & CEO
ÀÅӚÅ× Chennai
Åƌ˜ÅÅÄiÅl Date: 09.05.2019

116
 iÅlÅۛÅÅÕ¢Ó}ºÅ®Å˜Å՘¶ÅiÅlÅʯňÅÅÖiÅÓldŘÅΛÅŬŘŶÅĜÅąÅÅʬÅÓnÅÅ AUDITORS’ CERTIFICATE REGARDING COMPLIANCE OF
›Å¢ÅÊÂÅiÅlÅÔiÅlśŨŸÅŇśŊŠCONDITIONS OF CORPORATE GOVERNANCE
To
eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅlÀÅӚÅ× The Members of
iÅÓl¶ÅŒ¶ ÅÅÔiÅlÅÓ Indian Overseas Bank
Chennai
¸ŸÅ˜ÅÓ  iÅlÅÓ ¶ÅŸÅśˆÅ ®ÅµÅ¥ iÅÓl ÅƬÅh eÅƇƒ Å˜Å dÅÅӮ޶ÅÅÊÝwÅ œÅØiÅl ÀÅӚÅ× –Å¢Å
We have examined the compliance of conditions of Corporate
iÅlśÅÅÕ¢Ó} ºÅ®Å˜Å՘¶Å iÅlÅÊ ¯ÅˆÅÅÖ iÅÓl dŘÅΛÅŬŘÅ iÅlÅ ›Å¢ÅÊÂŇÅ ÅÆiÅl ÅÅ wÅ׶ÅÅ ÅÆiÅl žÅÅ¢ˆÅÅÊ Å Governance by Indian Overseas Bank (“the bank”) Chennai, for
›Å¨ÅƈŞÅÐÅƈÅh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥ÅƬÅÅƶ}ĺÅœÅŅ ÅˆÅÅhÄh®ÅěŨiÅl}ÅÊiÅl¢‡ÅdśÅÓÂÅÅhÄÅÆ®ÅÅƘŠşÅ the year ended on 31.03.2019, as stipulated in the Regulation 17
iÅÓl¶ÅӜÅÅÊ ÅƬÅÅƶ}ĺÅÅÆ®ÅÅƘŠşŘÅiÅlÅÊ dŘÅζÅÐÀÅÅÊ 9iÅÓl›ÅעźŨśÅl¶ÅÅʃÅÊ h®ÅÄ e¥ ˆÅ‹ÅÅ to 27 and clauses (b) to (i) of regulation 46 (2) and paragraphs
C, D and E of Schedule V of the Securities and Exchange Board
ÅÆ®ÅÅƘśŠşŘÅiÅÓlnÅăœÅÅÊ¶ÅÓ dÅÅeˆÅ‹ÅÅÅÆ®ÅÅƘŠşŘŶÅÓ ŸÅÔ ÅƘŅÅÅ¥ÅÆ¢ˆÅ
ÅÆiÅl ÅźŠÅŸ×ß
iÅlśÅÅÕ¢Ó} ºÅ®Å˜Å՘¶Å iÅlÅÊ ¯ÅˆÅÅÖ iÅlÅ dŘÅΛÅŬŘÅ ›Å¨œÅąŘÅ iÅlÅÊ ÅÆwşŸÅӌŢÅÊ ¸×ß ¸ŸÅÅ¢Å
›Å¢ÅÊÂŇÅžÅÅ¢ˆÅÅʠŶŘŌÅÊ ¬ÅÓnÅÅiÅlÅ¢¶ÅĶ‹ÅŘÅ–Å¢ÅwÅÅ¢ÅÊ iÅlśÅÅÕ¢Ó}ºÅ®Å˜Å٘¶ÅÅƮŵŠÅiÅl
›Å¨ŸÅŇÅÅÊiÅl¢‡Å¶ÅĜÅąÅÅÊŸÅźťŒ¯Å¥iÅl˜ÅÅÓ}iÅÓldŘÅζÅÅ¢¸ÎdÅÅdÅÅ×¢ Å¸›Å¨œÅąŘÅiÅlÅʯňÅÅÖiÅÓl
dŘÅΛÅŬŘÅiÅlÅÓ¶ÅÎÅƘÅÅƯÀňÅiÅl¢˜ÅÓiÅÓlÅƬÅheÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl–Å¢ÅdśŘÅÅe¥ºÅe¥
›Å¨ÅÆkÅl ÅÅdÅÅÔ dÅÅ×¢f˜ÅiÅÓliÅlÅ ÅÅ¥˜®Å Å˜ÅˆÅiÅl¶ÅÅÊÅƟňÅ‹ÅÅߠŸ˜ÅˆÅÅÓ ¬ÅÓnÅśŢÅÊÂÅÅ¸× ˜Å
¸ÅʠŸeÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅliÅÓlÅƮʼnÅÅÊ ÅÅƮŮއÅÅԛŢdÅÅƞşňÅ® Å‰ÅliÅl¢ˆÅŸ×ß
¸ŸÅÅ¢Ó dÅÅƞşňÅ h®ÅÄ wÅŘÅiÅlÅ¢ÅÊ iÅÓl dŘÅζÅÅ¢ ˆÅ‹ÅÅ œÅØiÅl –ŢŠ¢nÅÔ ºÅh ÅÆ¢iÅlŃÅÖ dÅÅ×¢
Œ¶ˆÅÅ®ÅÓwÅÅÔ h®ÅÄ ¸ŸÅÔ ŒÅÊ ºÅe¥ ¶ÅÐÀŘÅÅ dÅÅ×¢ Åƌh ºÅh ¶›Åµ}ÅÊiÅl¢‡Å iÅÓl dÅŅÅÅ¢ ›Å¢ ¸ŸÅ
›Å¨ŸÅÅÅƇňÅiÅl¢ˆÅÓ¸ØÅÆiÅlŸÅÅÀÅ¥iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥iÅÓlÅƬÅh¶ÅӜÅÅÊÅƬÅÅƶ}ĺÅÅÆ®ÅÅƘŠşŘÅ
of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“SEBI Listing Regulations”).
The compliance of conditions of Corporate Governance is the
responsibility of the Management. Our examination was carried
out in accordance with the Guidance Note on Certification of
Corporate Governance issued by the Institute of Chartered
Accountants of India and was limited to procedures and
implementation thereof, adopted by the Bank for ensuring the
compliance of the conditions of Corporate Governance. It is
neither an audit nor an expression of opinion on the financial
statements of the Bank.
In our opinion and to the best of our information and according
to the explanations given to us, we certify that the Bank has
complied with the conditions of Corporate Governance as
iÅlÅÊ dŘÅζÅÐÀÅÅÊ 9iÅÓl›ÅעźŨśÅl¶ÅÅʃÅÊ h®ÅÄ e¥ ˆÅ‹ÅÅÅÆ®ÅÅƘśŠşŘÅiÅÓlnÅă¶ÅÅÊ¶ÅÓ stipulated in the Regulation 17 to 27 and clauses (c) to (f) and
h›Ålh®ÅÄdÅÅeˆÅ‹ÅÅÅÆ®ÅÅƘŠşŘŶÅÓŸÅÔÅƘŅÅÅ¥ÅÆ¢ˆÅiÅlśÅÅÕ¢Ó}ºÅ®Å˜Å՘¶Å¶ÅĜÅąÅÅÊœÅØiÅl (i) of regulation 46(2) and paragraphs C, D and E of Schedule V
of the SEBI Listing Regulations, to the extent applicable to the
›Å¢¬ÅźÅЯňÅÅÖiÅlÅdŘÅΛÅŬŘÅœÅØiÅl–Å¢ÅÅÆiÅl ÅźŠÅŸ×ß
Bank, for the year ended on March 31, 2019.
¶ÅŋÅ ¸ÅÊ ¸ŸÅ  Å¸ žÅÅÊ ¶ÅÐÅÆÀňÅ iÅl¢ˆÅÓ ¸Ø ÅÆiÅl hÓ¶ÅÅ dŘÅΛÅŬŘÅ ˜Å ˆÅÅÓ œÅØiÅl iÅlÅÊ žÅÅ®ÅÅÊ We further state that such compliance is neither an assurance
® Å®Å¸Å Å¥ˆÅÅ iÅlÅ dÅů®ÅŶŘÅ ¸× ®Å ˜Å ¸ÅÊ ›Å¨œÅąŘÅ iÅlÅÊ ŒÂňÅÅ  ÅÅ ›Å¨žÅÅ®ÅňŸÅiÅlˆÅÅ iÅlÅ as to the future viability of the Bank nor the efficiency or
effectiveness with which the Management has conducted the
ÅÆwŶŶÅÓÅÆiÅl›Å¨œÅąŘŘÅÓœÅØiÅliÅÓliÅlŠťiÅl¬ÅśÅ¶ÅěŚÅÅÆiÅlh¸Øß
affairs of the Bank.

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hŸÅ˜ÅÄ hŸÅ˜ÅÄ M.No.08460 M.No. 114196

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hŸÅ¶ÅÄn ÅÅ hŸÅ¶ÅÄn ÅÅ Partner Partner
M.No.051656 M.No.022959

117
 ›Å¨Å¤›Å¶ÅÄn ÅÅhŸÅdÅÅ¢ Form No. MR-3
¶ÅÅÅÆÀÅÅÆ®ÅiÅl¬ÅÓnÅÅÅÆ¢›ÅÅÓ}¥ SECRETARIAL AUDIT REPORT
For the Financial Year 2018-19
ÅƮʼnÅÅʠŮŵťiÅÓlÅƬÅh
¶ÅÓ®ÅÅŸÅÔ To,
The Members,
¶ÅŒ¶ ÅºÅ‡ÅeÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl Indian Overseas Bank
ŸÅӶŶť eÅƇƒ Å˜Å dÅÅӮ޶ÅÅÊÝwÅ œÅØiÅl dÅźÅÓ e¶ÅÓ œÅØiÅl iÅÓl ¤›Å ŸÅÔ ® Å‰Ål ÅÆiÅl ÅÅ wÅÅhºÅÅ I have conducted the Secretarial Audit of the compliance
–Å¢ÅdśŘÅÅe¥ ºÅe¥ dÅÀ~ÅÊ ˜Å׺ÅÅƟÅiÅl›Å¨ÅÆkÅl ÅÅdÅÅÔ dÅÅ×¢›Å¨ ÅÅÓw Å¶ÅÅÄÅÆ®ÅÅƅÅiÅl›Å¨Å®Å…ÅŘÅÅÔ iÅÓl of applicable statutory provisions and the adherence to
dŘÅΛÅŬŘÅiÅlÅÊ ŸÅؘÅÓ ¶ÅÅÅÆÀÅÅÆ®ÅiÅl¬ÅÓnÅśŢÅÊÂÅÅiÅlÅÊ߶ÅÅÅÆÀÅÅÆ®ÅiÅl¬ÅÓnÅśŢÅÊÂÅÅe¶Å¤›Å good corporate practices by M/s. Indian Overseas Bank
(hereinafter called the Bank). Secretarial Audit was conducted
ŸÅÔiÅlÅʺÅe¥ÅÆiÅlf¶Å¶ÅÓŸÅ΄ÅÓiÅlÅ¢›ÅÅÓ¢Ó}® Å®Å¸Å¢ÅÔ¶ÅÅÄÅÆ®ÅÅƅÅiÅldŘÅΛÅŬŘÅÅÔiÅlÅÓŸÅЬ ÅÅÄÅÆiÅlˆÅ in a manner that provided me a reasonable basis for evaluating
iÅl¢˜ÅÓiÅÓlÅƬÅhhiÅlˆÅiÅ¥l¶ÅĺňÅdÅŅÅÅ¢ÅƟŬÅÅÅÆwŶÅiÅlÅ¢‡ÅŸÅØdśŘÅÓdÅÅƞşňÅfŒÃ¾ÅÅÅÆ}ˆÅ the corporate conducts/statutory compliances and expressing
iÅl¢›ÅÅ ÅÅß my opinion thereon.
ŸÅӶŶť eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅliÅlÅÊ œÅÅƸ ÅÅÔiÅlźÅwÅňÅÅÔiÅlŠť®Å҉ÅœÅÅƸ ÅÅÔ›ÅlşÅÅÖ Based on my verification of the M/s. Indian Overseas Bank
books, papers, minute books, forms and returns filed and
dÅÅ×¢ŒÅ Å¢iÅlÅʺÅe¥ÅƮŮŢÅƇŠÅÅÔh®ÅÄœÅØiÅl–Å¢ÅdÅÅƞŢÅÆÂňÅdŘ ÅÅÆ¢iÅlŃÅÖiÅlÅÊŸÅӢӖŢŠother records maintained by the Bank and also the information
wÅÅÄÀÅiÅÓldÅŅÅÅ¢›Å¢dÅÅ×¢œÅØiÅlf¶ÅiÅÓldÅÅƅÅiÅlÅÅÆ¢ ÅÅÔhwÅÔ}ÅԮśŨÅÅƅÅiÅÒlˆÅ›Å¨ÅƈÅÅƘÅÅƅŠÅÅÔ provided by the Bank, its officers, agents and authorized
–ŢşÅÅÀÅ¥iÅlÅÓ¶ÅŸÅśˆÅÅƮʼnÅÅʠŮŵťiÅlÅÓiÅl®Å¢iÅl¢˜ÅÓ®ÅŬÅÅʬÅÓnÅśŢÅÊÂÅÅdÅ®ÅÅƅÅ representatives during the conduct of secretarial audit, I hereby
iÅÓlŒÅעŘśŨŒ‰Å¶ÅÐÀŘÅÅiÅÓldÅŅÅÅ¢›Å¢œÅØiÅl˜ÅÓÅƘş˜Å®ÅˆÅ¶ÅÐÀÅÅʜŐ¶ÅÅÄÅÆ®ÅÅƅÅiÅl›Å¨Å®Å…ÅŘÅÅÔ report that in my opinion, the Bank has, during the audit period
covering the financial year ended 31st March 2019, complied
iÅlÅdŘÅΛÅŬŘÅÅÆiÅl ÅÅ¸× dÅÅ×¢ Å¸žÅÅÊ ÅÆiÅlœÅØiÅliÅÓl›ÅŶŶşÅÎÅÆÀňÅœÅÅӃ¥ ›Å¨ÅÆkÅl ÅÅh®ÅÄ with the statutory provisions listed hereunder and also that the
dŘÅΛÅŬŘśŨ‡ÅŬÅÅÊ iÅlśÅlÅÊ ¸ŒˆÅiÅlŸÅÅ×wÅЌ¸× wÅÅÓ ÅÆiÅl Å¸ÅÄ ›Å¢dÅźÅÓ ÅÆ¢›ÅÅÓ}¥ iÅlÅÊ wÅŘÅÓ Bank has proper Board-processes and compliance-mechanism
®ÅŬÅÅÊÅƮŵŠÅ®Å¶ˆÅÎiÅÓlˆÅ‹ Åh®ÅěŐÅƈÅiÅÓldŘÅζÅÅ¢¸ÅÓºÅÅÊ in place to the extent, in the manner and subject to the reporting
made hereinafter:
ŸÅؘÅÓŸÅÅÀÅ¥iÅlÅÓ¶ÅŸÅśˆÅÅƮʼnÅÅʠŮŵťiÅÓlÅƬÅhŸÅӶŶťeÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅl
I have examined the books, papers, minute books, forms and
œÅØiÅliÅlÅÊœÅÅƸ ÅÅÔiÅlÅݺÅwÅňÅÅÔiÅlŠť®Å҉Å›ÅζˆÅiÅlÅÔ›ÅlşÅÅÖdÅÅ×¢ŒÅ Å¢dŘ ÅÅƮŮŢÅƇŠÅÅÔ returns filed and other records maintained by M/s. Indian
h®ÅÄdÅÅƞŢÅÆÂňÅdŘ ÅÅÆ¢iÅlŃÅÖiÅlÅÊwÅÅÄÀÅiÅlÅÊdÅÅ×¢ Å¸wÅÅÄÀÅÅƘş˜Å›Å¨Å®Å…ÅŘÅÅÔiÅÓldŘÅζÅÅ¢ Overseas Bank (“the Bank”) for the financial year ended on
iÅlÅʺÅe¥ 31st March 2019 according to the provisions of:
 iÅÄl›Å˜ÅÅÊdÅÅƅÅÅƘŠşÅdÅÅƅÅÅƘŠşÅdÅÅ×¢f¶ÅiÅÓlˆÅ¸ˆÅÅƘŅÅÅ¥ÅÆ¢ˆÅÅƘŠşÅÅÔiÅÓl (i) The Companies Act, 2013 (the Act) and the rules made
thereunder; - The IEPF related provisions are applicable.
dŘÅζÅÅ¢dÅÅee¥›ÅÅÊh›Ål¶ÅÓ¶ÅĜÅÄÅƅňśŨŮŅÅŘÅ¬ÅźÅиÅӈÅÓ¸Øß
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’)
 ›Å¨ÅƈŞÅÐÅƈÅdŘÅΜÅąÅÅÆ®ÅÅƘŠşŘÅdÅÅƅÅÅƘŠşÅh¶Å¶ÅÅÊdÅÅ¢hdÅÅ×¢f¶ÅiÅÓl and the rules made thereunder;
dÅĈźťˆÅÅƘŠşÅÅÔiÅÓldŘÅζÅÅ¢ (iii) The Depositories Act, 1996 and the Regulations and Bye-
 Åƃ›ÅÅÓÅÆwÅ}¢ÅÊÝwÅ dÅÅƅÅÅƘŠşÅ  dÅÅ×¢ f¶ÅiÅÓl ˆÅ¸ˆÅ ¶ÅÒÅÆwňÅ ÅÆ®ÅÅƘŠşÅÅÔ dÅÅ×¢ laws framed thereunder;
f›ÅÅƘŠşÅÅÔiÅÓldŘÅζÅÅ¢ (iv) Foreign Exchange Management Act, 1999 and the rules
and regulations made thereunder to the extent of Foreign
 ÅƮŌӯÅÅÊ ÅÆ®ÅÅƘşŠÅ ›Å¨œÅąŘÅ dÅÅƅÅÅƘŠşÅ  dÅÅ×¢ ÅƮŌӯÅÅÊ ›Å¨ˆ ÅÂÅ ÅƘŮÅӯŠDirect Investment, Overseas Direct Investment and
›ÅÅ¢ºÅŸÅ˜Å›Å¨ˆ ÅÂÅÅƘŮÅÓ¯Åh®ÅĜş¢ÅÊ®ÅÅÅƇÅw ÅiÅlf…ÅÅ¢ÅÔiÅÓl¶ÅČžÅ¥ŸÅÔÅƘŅÅÅ¥ÅÆ¢ˆÅ External Commercial Borrowings;
ÅƘŠşÅÅÔdÅÅ×¢ÅÆ®ÅÅƘŠşÅÅÔiÅÓldŘÅζÅÅ¢ (v) The following Regulations and Guidelines prescribed
under the Securities and Exchange Board of India Act,
 žÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥dÅÅƅÅÅƘŠşÅ¶ÅӜÅÅÊdÅÅƅÅÅƘŠşÅiÅÓl 1992 (‘SEBI Act’):-
ˆÅ¸ˆÅÅƘŅÅÅ¥ÅÆ¢ˆÅÅƘş˜ÅÅƬÅÅÆnňÅÅÆ®ÅÅƘŠşÅÅÔdÅÅ×¢Åƌ¯ÅÅÅƘŌկÅÅÔiÅÓldŘÅζÅÅ¢
(a) The Securities and Exchange Board of India
 iÅl žÅÅ¢ˆÅÅÊ Å ›Å¨ÅƈŞÅÐÅƈÅ h®ÅÄ ÅÆ®ÅÅƘşŠÅ œÅÅӃ¥ ¯ÅӠŢÅÔ dÅÅ×¢ dÅÅƅźŨÅƸˆÅÅÔ iÅÓl (Substantial Acquisition of Shares and Takeovers)
›Å ÅÅ¥›ˆÅdÅÅƅźŨ¸‡ÅÅÆ®ÅÅƘŠşÅ Regulations, 2011;
(b) The Securities and Exchange Board of India
 nÅ žÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥e˜Å¶ÅÅeƒ¢}ªÓÅƃĺÅiÅlśŨÅƈŜÅąÅ (Prohibition of Insider Trading) Regulations, 2015;
ÅÆ®ÅÅƘŠşÅ
(c) The Securities and Exchange Board of India
 ºÅ žÅÅ¢ˆÅÅÊ Å›Å¨ÅˆÆ ŞÅÐÅˆÆ Åh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥ ›ÅÐwÜ ÅÅÊiÅlÅÅƘźťŸÅ˜ÅdÅÅ×¢›Å¨iÅl}ÅÊiÅl¢‡Å (Issue of Capital and Disclosure Requirements)
dśÅÓÂÅÅhÄÅÆ®ÅÅƘŠşÅdÅÅ×¢¶ÅӜÅÅÊdÅÅe¶ÅÅʃÅÊdÅÅ¢ Regulations, 2009 and SEBI (ICDR) 2018.
(d) The Securities and Exchange Board of India
 ¾Å žÅÅ¢ˆÅÅÊ Å ›Å¨ÅƈŞÅÐÅƈÅ h®ÅÄ ÅÆ®ÅÅƘşŠÅ œÅÅӃ¥ iÅlŸÅ¥ÀÅÅ¢ÅÊ ¶}ÅiÅl ÅÆ®ÅiÅl¬›Å (Employee Stock Option Scheme and Employee
 ÅÅÓwŘÅÅ dÅÅ×¢ iÅlŸÅ¥ÀÅÅ¢ÅÊ ¶}ÅÛiÅl nÅ¢Åʌ  ÅÅÓwŘÅÅ  Åƌ¯ÅÅÅƘŌկÅ  Stock Purchase Scheme) Guidelines, 1999 and SEBI
dÅÅ×¢¶ÅӜÅÅʯÅӠŢdÅŅÅÅÅÆ¢ˆÅiÅlŸÅ¥ÀÅÅ¢ÅÊ¬ÅŞÅÅÆ®ÅÅƘŠşŘÅ (Share Based Employee Benefits) Regulations, 2014.
 ¿ žÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅh®ÅÄ ÅÆ®ÅÅƘşŠÅœÅÅӃ¥ ŠÅ«‡Å›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅlÅÅƘźťŸÅ˜Å (e) The Securities and Exchange Board of India (Issue
and Listing of Debt Securities) Regulations, 2008;
h®ÅÄÅƬÅÅƶ}ĺÅÅÆ®ÅÅƘŠşÅ
(f) The Securities and Exchange Board of India
 ÀÅ iÅÄl›Å˜ÅÅÊ dÅÅƅÅÅƘŠşÅ dÅÅ×¢ iÅm¬ÅÅeÄ} iÅÓl ¶ÅŋÅ ¬ÅӘŌӘŠ¶ÅÓ ¶ÅĜÅÄÅƅňÅ (Registrars to an Issue and Share Transfer Agents)
žÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥ÅƘźťŸÅ˜ÅiÅÓl›ÅÄwÅÅÊiÅlÅ¢h®ÅįÅӠŢ Regulations, 1993 regarding the Companies Act
dÅĈއÅhwÅÔ}ÅÆ®ÅÅƘŠşÅ¬ÅźÅИŸÅË and dealing with client; (NOT APPLICABLE)

118
 ~ žÅÅ¢ˆÅÅʠśŨÅƈŞÅÐÅƈÅh®ÅÄÅÆ®ÅÅƘşŠÅœÅÅӃ¥eÅÆiÅm®Å}ÅʯÅӠŢÅÔiÅlÅʃÅÊÅƬÅÅƶ}ĺÅ (g)The Securities and Exchange Board of India
ÅÆ®ÅÅƘŠşÅ¬ÅźÅИŸÅË (Delisting of Equity Shares) Regulations, 2009;
(NOT APPLICABLE)
 wÅ žÅÅ¢ˆÅÅÊ Å ›Å¨ÅƈŞÅÐÅƈÅ h®ÅÄ ÅÆ®ÅÅƘşŠÅ œÅÅӃ¥  ›Å¨ÅƈŞÅÐÅƈŠÅÅÔ iÅlÅÊ ›ÅΘťnÅ¢Åʌ (h) The Securities and Exchange Board of India
ÅÆ®ÅÅƘŠşÅ¬ÅźÅИŸÅË (Buyback of Securities) Regulations, 1998; (NOT
APPLICABLE)
dŘ ÅÅƘŠşÅiÅlŘÅИÅwÅÅÓe¶ÅœÅØiÅl›Å¢ÅƮůÅӵŤ›Å¶ÅÓ¬ÅźÅиÅӈÅӸخÅÓ¸Ø
Other Laws specifically applicable to this Bank is as follows:
 œÅØÅÆiÅÄlºÅiÅlŸ›Å˜ÅÅÊf›ÅkÅlŸÅÅÔiÅlÅdÅÅƅźŨ¸‡Åh®ÅÄdÅĈއÅdÅÅƅÅÅƘŠşÅ (vi) The Banking Companies (Acquisition and Transfer of
 œÅØÅÆiÅÄlºÅÅÆ®ÅÅƘŠşŘÅdÅÅƅÅÅƘŠşÅ Undertakings) Act, 1970
(vii) The Banking Regulations Act, 1949
ŸÅؘÅÓÅƘş˜ÅÅƬÅÅÆnňÅiÅÓl›Å¨ ÅÅÓw ÅnÅăÅÔiÅÓldŘÅΛÅŬŘÅiÅlÅÊžÅÅÊwÅÅÄÀÅiÅlÅʸ×
I have also examined compliance with the applicable clauses of
ß žÅÅ¢ˆÅÅÊ ÅiÅÄl›Å˜ÅÅʶÅÅÆÀÅ®ÅÅÔiÅÓl¶ÅĶ‹ÅŘÅ–Å¢ÅwÅÅ¢ÅʶÅÅÅÆÀÅÅÆ®ÅiÅlŸÅŘÅiÅlˆÅÅhÄ¬ÅźÅÐ the following:
˜Å¸ÅË (i) Secretarial Standards issued by The Institute of
Company Secretaries of India. (NOT APPLICABLE)
ßß žÅÅ¢ˆÅÅÊ Å ›Å¨ÅƈŞÅÐÅƈÅ h®ÅÄ ÅÆ®ÅÅƘşŠÅ œÅÅӃ¥ ÅƬÅÅƶ}ĺÅ œÅŅ ÅˆÅÅhÄ h®ÅÄ ›Å¨iÅl}ÅÊiÅl¢‡Å
(ii) Securities and Exchange Board of India (Listing
dśÅÓÂÅÅhÄÅÆ®ÅÅƘŠşÅ
Obligations and Disclosure Requirements)
®ÅµÅ¥ iÅÓlŒÅעŘÅœÅØiÅl˜ÅÓ œÅÅÊh¶Åe¥ dÅÅ×¢h˜Åh¶Åe¥ ŒÅӘÅÅÔ iÅlÅÓ ¸ÅÊ ¤›ÅhwÅÅÊh¶Å}ÅÊ Regulations, 2015.
¶ÅÅƸˆÅŒÄƒ¯ÅάiÅldŌÅÅÆiÅl ÅÅwÅÅÓÅÆiÅlÅƘŌӯÅiÅlŸÅă¬ÅiÅlÅÊœÅׁiÅliÅÓlœÅÅ¢ÓŸÅÔ›ÅЮť¶ÅÐÀŘÅÅ During the year the Bank paid a penalty of
›Å¨¶ˆÅΈÅiÅl¢˜ÅÓŸÅÔÅƮŬşœÅiÅÓl›Å¨ÅƈÅ¢¸Åß Rs. 11,800/- (including GST) each to BSE & NSE
towards the delay in furnishing prior intimation
ŸÅØ  Å¸žÅÅÊ ÅÆ¢›ÅÅÓ}¥ iÅl¢ˆÅŸÐÜ ÅÆiÅlœÅØiÅliÅlÅÅƘŌӯÅiÅlŸÅă¬ÅœÅØÅÆiÅÄlºÅiÅlŸ›Å˜ÅÅÊ f›ÅkÅlŸÅÅÔ iÅlÅ about the meeting of the Board of Directors.
dÅÅƅźŨ¸‡Å®ÅdÅĈއÅdÅÅƅÅÅƘŠşÅiÅÓldŘÅζÅÅ¢ÅÆ®ÅÅƅŮňźÅÅƁˆÅ¸×ß I further report that the Board of Directors of the Bank is duly
constituted in accordance with the Banking Companies
œÅÅӃ¥ iÅlÅÊ œÅׁiÅlÅÔ iÅÓl¯ÅӃ¡ÅЬÅiÅÓl›Å¨ÅƈŶŞÅÅÊ ÅƘŌӯÅiÅlÅÔ iÅlÅÓ ›Å ÅÅ¥›ˆÅ˜ÅÅÓÅÆ}¶ÅÅƌ ÅźŠÅÅ (Acquisition and Transfer of Undertakings) Act, 1970.
iÅlŠť¶ÅÐÀÅÅÊ dÅÅ×¢ iÅlŠť¶ÅÐÀÅÅÊ ›Å¢ ÅƮŶˆÅ҈Å ˜ÅÅÓ} ›Å¸¬ÅÓ ¸ÅÊ žÅÓwÅ Åƌh ºÅh dÅÅ×¢ œÅׁiÅl iÅÓl
Adequate notice is given to all directors to schedule the Board
›Å¸¬ÅÓ iÅlŠť¶ÅÐÀÅÅÊ iÅlÅÊ ŸÅŒÅÔ ›Å¢dÅÅ×¢dÅÅƅÅiÅlwÅŘÅiÅlÅ¢ÅÊ h®ÅÄ ¶›Åµ}ÅÊiÅl¢‡Å›Å¨Å›ˆÅiÅl¢˜ÅÓ ®Å Meetings, agenda and detailed notes on agenda were sent in
ŸÅÅĺŘÅÓ iÅÓlÅƬÅhˆÅ‹ÅÅœÅׁiÅlŸÅÔ ¶ÅŋťiÅl›Å¨ÅƈŞÅÅÅƺňÅÅiÅÓlÅƬÅh›Å¸¬ÅÓ ¶ÅÓ ¸ÅÊ hiÅl® Å®Å¶‹ÅÅ advance and a system exists for seeking and obtaining further
ŸÅÅ×wÅЌ¸×ß information and clarifications on the agenda items before the
meeting and for meaningful participation at the meeting.
ŸÅؠŸžÅÅÊÅÆ¢›ÅÅÓ}¥iÅl¢ˆÅŸÐÜÅÆiÅlœÅØiÅliÅÓldÅÅiÅlÅ¢dÅÅ×¢›ÅÅÆ¢ÀÅŬŘÅÅÔiÅÓl¶ÅŸÅˆÅά Å¸ÅÊœÅØiÅlŸÅÔ
I further report that there are adequate systems and processes
›Å ÅÅ¥›ˆÅ›Å¨‡ÅÅÅƬŠÅÅÄh®ÅěŨÅÆkÅl ÅÅhÄŸÅÅ×wÅЌ¸ØˆÅÅÅÆiÅl›Å¨ ÅÅÓw ÅÅÆ®ÅÅƅŠÅÅÔÅƘŠşÅÅÔÅÆ®ÅÅƘŠşÅÅÔ in the Bank commensurate with the size and operations of the
dÅÅ×¢ Åƌ¯ÅÅÅƘŌկÅÅÔ iÅlÅ ›Å¨œÅÅӅŘÅ ÅÆiÅl ÅÅ wÅÅ ¶ÅiÅÓl ®Å dŘÅΛÅŬŘÅ ¶ÅÎÅƘÅÅƯÀňÅ ÅÆiÅl ÅÅ wÅÅ Bank to monitor and ensure compliance with applicable laws,
¶ÅiÅÓlß rules, regulations and guidelines.
I further report that during the audit report the Bank has
ŸÅؠŸžÅÅÊÅÆ¢›ÅÅÓ}¥iÅl¢ˆÅŸÐÜÅÆiÅl¬ÅÓnÅśŢÅÊÂÅÅdÅ®ÅÅƅÅiÅÓlŒÅעŘÅœÅØiÅl˜ÅÓ
1. Allotted 137,30,10,821 equity shares of Rs.10/- each
, ¤iÅl¢ÅÓƒÞ iÅÓliÅ×lÅƛÅ}¬Åe˜›Åm ÅÐwÝ Å˜ÅiÅÓlÅƬÅhiÅÓlÅƌ˜ÅžÅÅ¢ˆÅ (Rupees Ten only) for cash at Issue Price of Rs.15.71 per
¶Å¢iÅlÅ¢iÅlÅÓdÅÅƅşÅŘ ÅˆÅÅdÅŅÅÅ¢›Å¢¤›Å¨ÅˆÆ ůÅӠŢiÅlÅÊŒ¢¤›Å¨ÅˆÆ Å share (including premium of Rs.5.71 per equity share)
eÅÆiÅm®Å}ÅʯÅӠŢiÅÓl›Å¨ÅÅÊ ŸÆ ŠşÅ¶ÅÅƸˆÅ›Å¢˜ÅºÅŒiÅÓlÅƬÅh¤¤›ÅhŸÅŊÅ›Å¨ÅˆÆ Å on preferential basis to Government of India (GOI) on
12.11.2018 for Capital infusion of Rs.2157 crore.
¯ÅӠŢiÅÓlÅƸ¶ÅŜŶÅÓeÅÆiÅm®Å}ÅʯÅӠŢdÅŜÅÄÅ}Æ ˆÅÅÆiÅlhºÅhß
2. Allotted 269,54,67,422 equity shares of Rs.10/- each
,, ¤iÅl¢ÅÓƒÞ iÅÓliÅ×lÅƛÅ}¬Åe˜›Åm ÅÐwÝ Å˜ÅiÅÓlÅƬÅhiÅÓlÅƌ˜ÅžÅÅ¢ˆÅ (Rupees Ten only) for cash at Issue Price of Rs. 14.12 per
¶Å¢iÅlÅ¢iÅlÅÓdÅÅƅşÅŘ ÅˆÅÅdÅŅÅÅ¢›Å¢¤›Å¨ÅˆÆ ůÅӠŢiÅlÅÊŒ¢¤›Å¨ÅˆÆ Å equity share (including premium of Rs.4.12 per equity
eÅÆiÅm®Å}ÅʯÅӠŢiÅÓl›Å¨ÅÅÊ ŸÆ ŠşÅ¶ÅÅƸˆÅ›Å¢˜ÅºÅŒiÅÓlÅƬÅh¤¤›ÅhŸÅŊÅ›Å¨ÅˆÆ Å share) on 28.03.2019 to Government of India (GOI) for
Capital infusion of Rs.3806 crore.
¯ÅӠŢiÅÓlÅƸ¶ÅŜŶÅÓeÅÆiÅm®Å}ÅʯÅӠŢdÅŜÅÄÅ}Æ ˆÅÅÆiÅlhºÅhß
3. Allotted 18,24,00,000 equity shares of Rs.10/- each
,,,  ¤  iÅl¢ÅÓރ iÅlÅÊ ¸Œ ˆÅiÅl ›ÅÐÜwÅÅÊ iÅlÅÊ ®ÅÒÅƐ ¸ÓˆÅÎ  iÅÓl Åƌ˜Å (Rupees Ten only) for cash at Issue Price of Rs.11.90 per
iÅlŸÅ¥ÀÅÅ¢ÅÊ ¶}ÅÛiÅl nÅ¢Åʌ  ÅÅÓwŘÅÅ dÅÅedÅÅӜÅÅÊe¥h¶Å›ÅÅÊh¶Å   iÅÓl ˆÅ¸ˆÅ share (including premium of Rs.1.90 per equity share) to
iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔ iÅÓl ÅƬÅh ¤  ›Å¨ÅƈÅ ¯ÅӠŢ iÅlÅÊ Œ¢ ¤  ›Å¨ÅƈÅ eÅÆiÅm®Å}ÅÊ Employees under Employees Stock Purchase Scheme
(IOB-ESPS 2018) on 04.02.2019 augmenting capital to
¯ÅӠŢiÅÓl›Å¨ÅÊÅƟŠşÅ¶ÅÅƸˆÅ›Å¢˜ÅºÅŒiÅÓlÅƬÅh¤¤›ÅhŸÅŊÅ›Å¨ÅƈůÅӠŢ the extent of Rs.260.47 crore.
iÅÓlÅƸ¶ÅŜŶÅÓeÅÆiÅm®Å}ÅʯÅӠŢdÅŜÅÄÅÆ}ˆÅÅÆiÅlhºÅhß
V Suresh
Ìããè. ÔãìÀñÍã
Practising Company Secretary
¶‹ÅŘÅÀÅӚÅ× ›Å¨×ÅÆiÅm}ÅƶÅĺÅiÅlŸ›Å˜ÅÅʶÅÅÆÀÅ®Å
ÅƈÅÅƋÅ h›Ål¶ÅÅÊh¶Å˜Å Place: Chennai FCS No. 2969
¶ÅÅÊ›ÅÅʘÅÄ Date : 06.05.2019 C. P. No. 6032

119
 iÅlÅÊÅƶ‹ÅÅƈÅiÅÓldŘÅζÅÅ¢ˆÅάŘśŊÅ
BALANCE SHEET AS AT 31.03.2019
£¸wÅÅ¢ÅÔŸÅÔ Rs. in 000's)
SCHED- AS AT AS AT
ULES 31.03.2019 31.03.2018
dŘÅζÅÐÀÅÅÊ ˆÅiÅl ˆÅiÅl
›ÅÐÜwÅÅʮŌӠňÅÅhÜ CAPITAL & LIABILITIES
›ÅÐÜwÅÅÊ Capital 01 9141 64 82 4890 76 99
‚ããÀãäàããä¦ã¾ããú ‚ããõÀ ‚ããä£ãÍãñÓã Reserves and Surplus 02 7218 22 99 8383 21 30
wşÅÅ¢ÅÅƯŠÅÅÜ Deposits 03 222534 07 72 216831 81 11
„£ããÀ Borrowings 04 6146 03 79 9228 08 11
‚㶾㠪ñ¾ã¦ãã†úú Ìã ¹ãÆãÌã£ãã¶ã Other Liabilities & Provisions 05 4968 36 45 8634 15 51
wÅÅÓރ TOTAL 250008 35 77 247968 03 02
dÅÅÅƶˆÅ ÅÅÜ ASSETS
žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅliÅÓl Å¸ÅܘÅiÅlŒÅÊdÅÅ×¢dÅÅƈůÅӵŠCash & Balances with Reserve Bank of 06 10292 53 22 11579 45 04
India
œÅØiÅlÅÔŸÅÔdÅÅƈůÅÓµÅdÅÅ×¢ŸÅÅܺÅ Balances with Banks
¹ãÀ ¦ã©ãã ‚ãʹã ÔãîÞã¶ãã ¹ãÀ ¹ãÆ㹦㠣ã¶ã and Money at Call and Short Notice 07 20598 96 56 14965 54 04
ãä¶ãÌãñÍã Investments 08 66932 27 34 68645 93 65
dÅÅƺŨŸÅ Advances 09 132597 62 96 132488 81 49
ãäÔ©ãÀ ‚ãããäÔ¦ã¾ããú Fixed Assets 10 3336 90 47 2893 43 38
‚㶾㠂ãããäÔ¦ã¾ããú Other Assets 11 16250 05 22 17394 85 42
wÅÅÓރ TOTAL 250008 35 77 247968 03 02
¶ÅŸÅÅÅƳňŌӠňÅÅhÜ Contingent Liabilities 12 56648 72 38 58366 44 84
¶ÅĺŨ¸‡ÅiÅÓlÅƬÅhÅƜŬŠBills for Collection 15203 63 35 15239 37 71
ŸÅЬŬÅÓnÅÅiÅl¢‡Å˜ÅÅÊÅƈŠÅÅÜ Significant Accounting Policies 17
¬ÅÓnÅÅԛŢÅÆ}››ÅÅƇŠÅÅÜ Notes on Accounts 18
dŘÅζÅÐÅÆÀÅ ÅÅ܈ÅάŘśŊÅiÅlÅdÅĺŸ×ß Schedules Form Part of the Balance Sheet

œÅÅӃ¥iÅÓlÅƬÅhh®ÅÄf¶ÅiÅlÅÊdÅÅÓ¢¶ÅÓ FOR AND ON BEHALF OF THE BOARD

}ÅʶÅÅÊh¢ÄºÅ˜ÅŋŘŠT C A Ranganathan dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ R. Subramaniakumar iÅl˜Å¥ŸÅ¯ÅÓnÅ¢ Karnam Sekar
ºÅ×¢iÅlŠť›ÅŬÅiÅldŅ ÅÂÅ Non Executive Chairman hŸÅƒÅÊh®ÅĶÅÅÊe¥dÅÅÓ MD & CEO ÅƮůÅӵŃ¡ÅÎ}ÅʛŢdÅÅƅÅiÅlÅ¢ÅÊ Officer On Special Duty

iÅlÓ¶®ÅşÅÅʘÅŋŘŠK. Swaminathan dÅwÅ ÅiÅÎlŸÅÅ¢±Å¨ÅÊ®ÅŶˆÅ®Å Ajay Kumar Srivastava h˜ÅÅÊwÅÅwÅ¥ŸÅۋ ÅÐ Annie George Mathew
iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director ÅƘŌӯÅiÅl Director
ÅƘşť¬ÅÀÅČ Nirmal Chand ¶ÅÄwŠţĺÅ}Å Sanjay Rungta iÅÓl¢¾ÅÎ K. Raghu
ÅƘŌӯÅiÅl Director ÅƘŌӯÅiÅl Director ÅƘŌӯÅiÅl Director

ÅƘŌӯÅiÅlºÅ‡Å DIRECTORS

Ô©ãã¶ã : Þãñ¸ãõ Chennai

Åƌ˜ÅÅÄiÅl

120
 iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥iÅÓlÅƬÅh¬ÅŞÅ®Å¸ÅÅƘÅnÅňÅÅ
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2019
£¸wÅÅ¢ÅÔŸÅÔ Rs. in 000's)
SCHED- iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥
ULES YEAR ENDED YEAR ENDED
dŘÅζÅÐÀÅÅÊ 31.03.2019 31.03.2018
dÅÅ Å INCOME
dÅÅÆwÅ¥ˆÅœ ÅÅwÅ Interest earned 13 17631 26 12 17915 21 30
‚㶾㠂ãã¾ã Other income 14 4206 32 09 3746 43 62
 ÅÅӺŠTOTAL 21837 58 21 21661 64 92
® Å Å EXPENDITURE
® Å ÅÅÆiÅl ÅÅźŠÅÅœ ÅÅwÅ Interest expended 15 12352 12 78 12447 63 91
¹ããäÀÞããÊã¶ã ̾ã¾ã Operating expenses 16 4451 58 16 5584 92 54
›Å¨Å®Å…ÅŘÅdÅÅ×¢dÅÅiÅlÅƶŸÅiÅl® Å ÅÅƘŮŬÅ Provisions & Contingencies (Net) 8771 75 37 9928 57 52
 ÅÅӺŠTOTAL 25575 46 31 27961 13 97
¬ÅŞÅ¸ÅÅƘÅ PROFIT / LOSS (-)
®ÅµÅ¥iÅlÓÅƬÅhÅƘŮŬÅ¬ÅŞÅ¸ÅÅƘÅ Net Profit / Loss (-) for the year -3737 88 10 -6299 49 05
dźŨÅƇňÅ¬ÅŞÅ¸ÅÅƘÅ Profit /Loss (-) brought forward -6373 69 72 -6978 94 50
¾Å}ÅhįÅӠŢ›Å¨ÅÊÅƟŠşÅiÅÓl›Å¨ÅƈŶÅ}dÅÅۛÅl Less: Set off against Share Premium 0 6978 94 50
 ÅÅӺŠTOTAL -10111 57 82 -6299 49 05
ÅÆ®ÅÅƘŠÅÅÓwŘŠAPPROPRIATIONS
¢ÅwŶ®ÅdÅÅ¢ÅÆÂňÅÅƘÅÅƅÅŸÅÓÄdÅĈŢ‡Å Transfer to Statutory Reserve 0 0
¢ÅwŶ®ÅdÅÅ×¢dŘ ÅdÅÅ¢ÅÆÂÅÅƈŠÅÅÓÄŸÅÓÄdÅĈŢ‡Å Transfer to Revenue and Other Reserves 0 0
›ÅÐÜwÅÅÊdÅÅ¢ÅÆÂÅÅƈŠÅÅÓÄŸÅÓdÅĈŢ‡Å Transfer to Capital Reserve 164 14 50 74 20 67
ÅƮůÅÓµÅdÅÅ¢ÅÆÂňÅiÅlÅÓdÅĈŢ‡Å Transfer to Special Reserve 0 0
›Å¨¶ˆÅÅÅƮňÅdÅÄÅƈşÅ¬ÅŞÅÅįÅ­ÅžÅÅįÅiÅl¢¶ÅÅƸˆÅ Proposed Dividend (including Dividend 0 0
Tax)
ˆÅάŘśŊşÅÓÄdźŨÓÅƵňůÅӵŢÅÅƯŠBalance carried over to Balance Sheet -10275 72 32 -6373 69 72
 ÅÅӺŠTOTAL -10111 57 82 -6299 49 05
ŸÅЬÅh®ÅĈŘÅÎiÅl҈śŨÅƈůÅӠŢdÅwÅ¥˜Å£ Basic & Diluted Earnings per share (Rs.) -6.83 -23.25
›Å¨ÅƈÅeÅÆiÅm®Å}ÅʯÅӠŢiÅlÅ˜ÅşşÅŊÅŸÅЬ Å£ Nominal Value per Equity Share ( Rs. ) 10.00 10.00
dŘÅζÅÐÅÆÀÅ ÅÅÜ¬ÅŞÅ¸ÅÅƘÅnÅňÅÓiÅlÅdÅĺŸ×ß Schedules Form Part of the Profit & Loss Account

¶ÅŸÅÅƈÅÅƋÅiÅlÅʸŸÅÅ¢ÅÊÅÆ¢›ÅÅÓ}¥iÅÓlwÅÅÆ¢h VIDE OUR REPORT OF EVEN DATE

iÅÒlˆÅÓdÅÅ¢¶ÅΜŨŸÅÅƇŠŘÅhăiÅÄl›Å˜ÅÅÊh¬Åh¬Å›ÅÅÊ For R SUBRAMANIAN AND iÅÒlˆÅÓh¶ÅhdÅÅ¢¶ÅÅÊhăh¶ÅÅÓÅƶÅh}öÅ For S A R C &

¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ COMPANY LLP ¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ ASSOCIATES
FRN 004137S/S200041 FRN 006085N
h›ÅldÅÅ¢h˜Åh¶Åh¶Å h›ÅldÅÅ¢h˜Å1
(dÅÅ¢¶ÅΜŨŸÅÅƇŠŘÅ (R SUBRAMANIAN) (ÀÅӈŘŁiÅmiÅl¢ (CHETAN THAKKAR)
ÔããÈ¢ãñªãÀ Partner ÔããÈ¢ãñªãÀ Partner
M.No.114196
M.No. 08460
hŸÅ˜ÅÄ hŸÅ˜ÅÄ
iÅÒlˆÅÓ›ÅŊÅÅÓhăiÅÄl›Å˜ÅÅÊ For PATRO & CO iÅÒlˆÅÓhŸÅ±Å¨ÅÊÅƘŮÅŶŘÅhăh¶ÅÅÓÅƶÅh}öŠFor M SRINIVASAN &
FRN 310100E ASSOCIATES
¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ ¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ FRN 004050S
h›ÅldÅÅ¢h˜Åe¥ h›ÅldÅÅ¢h˜Åh¶Å
(h˜ÅdÅŘÅČ¢Å®Å (N ANANDA RAO) hŸÅ±Å¨ÅÊÅƘŮÅŶŘŠ(M SRINIVASAN)
Partner Partner
ÔããÈ¢ãñªãÀ M.No. 051656 ÔããÈ¢ãñªãÀ M.No.022959
hŸÅ¶ÅÄn ÅÅ hŸÅ¶ÅÄn ÅÅ
Ô©ãã¶ã : Þãñ¸ãõ Place : Chennai
Åƌ˜ÅÅÄiÅl 'DWH

121
 eÅƇƒ Å˜ÅdÅÅӮ޶ÅÅÊÝwÅœÅØiÅlINDIAN OVERSEAS BANK
iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥iÅÓlÅƬÅh˜ÅiÅlŒ›Å¨®ÅŸÅƮŮއÅ
STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31.03.2019
£¸wÅÅ¢ÅÔŸÅÔ Rs. in 000's)
Year ended
31.03.2019 31.03.2018
›ÅÅÆ¢ÀÅŬŘźňźÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ¶ÅÓ˜ÅiÅlŒ›Å¨®ÅŸ CASH FLOW FROM OPERATING
ACTIVITIES
dÅÅ ÅiÅl¢iÅÓlœÅŌÅƘŮŬŸÅÅƘŠNet Loss after Income Tax -37 37 88 11 -62 99 49 03
wÅÅӃÔdÅÅ ÅiÅl¢¸ÓˆÅΛŨ®ÅŅÅŘŠAdd: Provision for Income Tax 14 13 75 59 81 14
dÅÅ ÅiÅl¢¶ÅӛŸ¬ÅÓÅƘŮŬŸÅÅƘŠNet Loss before Income Tax -37 23 74 36 -62 39 67 88
ÅƘş˜Å®ÅˆÅiÅÓlÅƬÅh¶ÅŸÅÅ ÅÅÓwŘÅ Adjustments for :
hÀÅ}ÅÊhŸÅÅƘŮÅÓ¯ÅÅÔiÅÓlÅƬÅhŠÅ«‡Å›ÅÅÆ¢¯ÅÅӅŘŠAmortisation of HTM Investments - 66 20 17 68 61 89
ÅƘŮÅÓ¯ÅÅÔiÅÓl›ÅИşÅÐ¥¬ ÅÅÄiÅl˜Å¶ÅÓ¸Îe¥¸ÅÅƘŠLoss on Revaluation of Investments 34 43 1 86 03 09
ÅƘŠňÅdÅÅÅƶˆÅ ÅÅԛŢŸÅЬ Å¸¨Å¶Å Depreciation on Fixed Assets 3 04 24 45 2 72 47 03
dÅÅÅƶˆÅ ÅÅÔiÅlÅÊÅƜÅkÅlÅʛŢ¬ÅŞÅ¸ÅÅƘŠ(Profit) / Loss on Sale of Assets -1 00 57 83 - 1 79 39
dÅÅ¢ÅÆÂÅÅƈŠÅÅÔ¶ÅÓdÅĈŢ‡Å Transfer from Reserves 6 00 31 16 - 65 07 45
dŘÅwÅ¥iÅldÅÅÅƶˆÅ ÅÅÔiÅÓlÅƬÅh›Å¨Å®Å…ÅŘŠProvision for NPAs 98 02 80 38 118 16 37 34
ŸÅŘÅiÅldÅÅÅƶˆÅ ÅÅÔiÅÓlÅƬÅh›Å¨Å®Å…ÅŘŠProvision for Standard Assets - 70 15 74 -4 55 07 04
ÅƘŮÅÓ¯ÅÅԛŢŸÅЬ Å¸¨Å¶Å Depreciation on Investments 8 84 28 48 9 12 38 27
dŘ ÅŸÅŒÅÔiÅÓlÅƬÅh›Å¨Å®Å…ÅŘŠProvision for Other Items -18 31 42 31 -24 04 92 19
ÅÆ} Å¢,,›ÅÐÜwÅÅʛŢ›Å¨ŒˆˆÅœ ÅÅwÅ Interest on Tier II Bonds 3 89 52 95 4 52 78 26
f›Å ÅÅӺŠSub total 99 13 15 80 107 81 79 81
ÅƘş˜Å®ÅˆÅiÅÓlÅƬÅh¶ÅŸÅÅ ÅÅÓwŘŠAdjustments for :
ÅƘÅÂÅӛÅÅÔŸÅÔ®ÅÒÅƐ¸¨Å¶Å Increase / (Decrease) in Deposits 57 02 26 61 54 89 18 45
f…ÅÅÅÆ¢ ÅÅÔŸÅÔ®ÅÒÅƐ¸¨Å¶Å Increase / (Decrease) in Borrowings -30 82 04 32 -68 69 59 07
dŘ ÅŒÓ ÅˆÅÅdÅÅԮśŨŮŅÅŘÅÅÔŸÅÔ®ÅÒÅƐ¸¨Å¶Å Increase / (Decrease) in Other Liabilities & -17 09 77 55 55 22 42 95
Provisions
ÅƘŮÅÓ¯ÅÅÔŸÅÔ®ÅÒÅƐ¸¨Å¶Å (Increase) / Decrease in Investments 8 95 23 58 18 41 15 25
dÅÅƺŨŸÅÅÔŸÅÔ®ÅÒÅƐ¸¨Å¶Å (Increase) / Decrease in Advances -99 11 61 85 -38 46 56 99
dŘ ÅdÅÅÅƶˆÅ ÅÅÔŸÅÔ®ÅÒÅƐ¸¨Å¶Å (Increase) / Decrease in Other Assets 20 46 81 48 -72 99 64 49
f›Å ÅÅӺŠSub total -60 59 12 05 -51 63 03 90
›Å¨ŒˆˆÅ›Å¨ˆ ÅÂÅiÅl¢ÅƘŮŬÅ Direct Taxes (Net) -9 16 15 26 -13 77 63 81
›ÅÅÆ¢ÀÅŬŘźňÅ ºÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ ¶ÅÓ f›Å ÅÅӺŠŸÅÔ ÅƘŮŬÅ ˜ÅiÅlŒ NET CASH FLOW GENERATED FROM / -7 85 85 87 -19 98 55 79
›Å¨®ÅŸiÅl (USED IN) OPERATING ACTIVITIES(A)
ÅƘŮÅӯŶÅĜÅąÅÅʺÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ¶ÅÓf›Å ÅÅӺşÅÔ˜ÅiÅlŒ›Å¨®ÅŸ CASH FLOW FROM INVESTING
ACTIVITIES
ÅƘŠňÅdÅÅÅƶˆÅ ÅÅÔiÅlÅÊÅƜÅkÅlÅÊÅƘśÅ}ŘŠSale / disposal of Fixed Assets 2 00 74 54 6 68 16
ÅƘŠňÅdÅÅÅƶˆÅ ÅÅÔiÅlÅÊnÅ¢Åʌ Purchase of Fixed Assets -8 47 88 24 -1 16 45 97
ÅƘŮÅӯŶÅĜÅąÅÅʺÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ¶ÅÓÅƘŮŬŘÅiÅlŒnÅ NET CASH GENERATED FROM/(USED -6 47 13 70 -1 09 77 81
IN) INVESTING ACTIVITIES (B)
ÅƮňˆÅ›ÅÅӵŇźÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ¶ÅÓ˜ÅiÅlŒ›Å¨®ÅŸ CASH FLOW FROM FINANCING
ACTIVITIES
e¥ÅÆiÅm®Å}ÅÊ ¯ÅӠŢ ÅƘźťŸÅ ¶ÅÓ …Å˜ÅźşÅ ¯ÅӠŢ ›Å¨ÅÊÅƟŠşÅ iÅlÅÓ Proceeds of Equity Share Issue (including 62 23 46 72 57 94 00 00
ÅƟŬÅÅiÅl¢ Share premium)

122
 £¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
Year ended
31.03.2019 31.03.2018
ÅÆ} Å¢,,›ÅÐÜwÅÅʛŢ›Å¨ŒˆˆÅœ ÅÅwÅ Interest Paid on Tier II Capital -4 43 96 46 -4 63 70 58
œÅÓÅƟŠÅŌÅÊh}ÅÊœÅÅۘƒ›Å¢›Å¨Œ‰Åœ ÅÅwÅ Interest paid on perpetual (AT1) bonds 0 1 00 00 00
ÅƮňˆÅ›ÅÅӵŇźÅÅƈÅÅÆ®ÅÅƅŠÅÅÔ¶ÅÓÅƘŮŬŘÅiÅlŒºÅ NET CASH GENERATED FROM/(USED 57 79 50 26 54 30 29 42
IN) FROM FINANCING ACTIVITIES (C)
˜ÅiÅlŒh®ÅĘÅiÅlŒ¶ÅŸÅˆÅά ÅŸÅÔÅƘŮŬÅ®ÅÒÅƐiÅlŸÅÅËiÅlnźÅ NET INCREASE IN CASH AND CASH 43 46 50 70 33 21 95 82
EQUIVALENTS (A) +(B) + (C)
®ÅµÅ¥iÅÓl›Å¨Å¢ÄžÅŸÅÔ˜ÅiÅlŒ®Å˜ÅiÅlŒ¶ÅŸÅˆÅά Å CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE YEAR
žÅÅÅÆ¢œÅØiÅÓl¶ÅŋŘÅiÅlŒ®Å¯ÅӵŠCash & Balances with RBI 115 79 45 04 114 99 96 54
œÅØiÅlÅÔiÅÓl¶ÅŋůÅÓµÅdÅÅ×¢ŸÅÅܺÅ•® Å Balances with Banks & Money at Call 149 65 54 04 117 23 06 72
®ÅµÅ¥iÅÓldÅĈÅŸÅÔ˜ÅiÅlŒ®Å˜ÅiÅlŒ¶ÅŸÅˆÅά Å CASH AND CASH EQUIVALENTS AT THE
END OF THE YEAR
˜ÅiÅlŒ®ÅžÅÅÅÆ¢œÅØiÅÓl¶ÅŋůÅӵŠCash & Balances with RBI 102 92 53 22 115 79 45 04
œÅØiÅlÅÔiÅÓl¶ÅŋůÅÓµÅdÅÅ×¢ŸÅÅܺÅ•® Å Balances with Banks & Money at Call 205 98 96 56 149 65 54 04
˜ÅiÅlŒh®ÅĘÅiÅlŒ¶ÅŸÅˆÅά ÅŸÅÔÅƘŮŬÅ®ÅÒÅƐiÅlŸÅÅË NET INCREASE / DECREASE IN CASH 43 46 50 70 33 21 95 82
AND CASH EQUIVALENTS

 ÅÓÅƮŮއÅdśŨˆ ÅÂśŐÅƈÅiÅÓldÅŅÅÅ¢›Å¢ˆÅ× ÅÅ¢ÅÆiÅlhºÅh¸Øß
This Statement has been prepared in accordance with Indirect Method.
The previous year figures have been regrouped wherever necessary to conform with the current year figures.

œÅÅӃ¥iÅÓlÅƬÅhh®ÅÄf¶ÅiÅlÅÊdÅÅÓ¢¶ÅÓ FOR AND ON BEHALF OF THE BOARD

}ÅʶÅÅÊh¢ÄºÅ˜ÅŋŘŠT C A Ranganathan dÅÅ¢¶ÅΜŨŸÅ‡ ÅiÅÎlŸÅÅ¢ R. Subramaniakumar iÅl˜Å¥ŸÅ¯ÅÓnÅ¢ Karnam Sekar
ºÅ×¢iÅlŠť›ÅŬÅiÅldŅ ÅÂÅ Non Executive Chairman hŸÅƒÅÊh®ÅĶÅÅÊe¥dÅÅÓ MD & CEO ÅƮůÅӵŃ¡ÅÎ}ÅʛŢdÅÅƅÅiÅlÅ¢ÅÊ Officer On Special Duty

iÅlÓ¶®ÅşÅÅʘÅŋŘŠK. Swaminathan dÅwÅ ÅiÅÎlŸÅÅ¢±Å¨ÅÊ®ÅŶˆÅ®Å Ajay Kumar Srivastava h˜ÅÅÊwÅÅwÅ¥ŸÅۋ ÅÐ Annie George Mathew
iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director iÅlŠť›ÅŬÅiÅlÅƘŌӯÅiÅl Executive Director ÅƘŌӯÅiÅl Director
ÅƘşť¬ÅÀÅČ Nirmal Chand ¶ÅÄwŠţĺÅ}Å Sanjay Rungta iÅÓl¢¾ÅÎ K. Raghu
ÅƘŌӯÅiÅl Director ÅƘŌӯÅiÅl Director ÅƘŌӯÅiÅl Director
ÅƘŌӯÅiÅlºÅ‡ÅDIRECTORS

¶ÅŸÅÅƈÅÅƋÅiÅlÅʸŸÅÅ¢ÅÊÅÆ¢›ÅÅÓ}¥iÅÓlwÅÅÆ¢h VIDE OUR REPORT OF EVEN DATE

iÅÒlˆÅÓdÅÅ¢¶ÅΜŨŸÅÅƇŠŘÅhăiÅÄl›Å˜ÅÅÊh¬Åh¬Å›ÅÅÊ For R SUBRAMANIAN AND COMPANY LLP iÅÒlˆÅÓh¶ÅhdÅÅ¢¶ÅÅÊhăh¯ÅÅÓÅƯÅh}öÅ For S A R C & ASSOCIATES
¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ Chartered Accountants ¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ Chartered Accountants
FRN 004137S/S200041 FRN 006085N
h›ÅldÅÅ¢h˜Åh¶Åh¶Å h›ÅldÅÅ¢h˜Åh˜Å
(dÅÅ¢¶ÅΜŨŸÅÅƇŠŘÅ (R SUBRAMANIAN) (ÀÅӈŘŁiÅmiÅl¢ (CHETAN THAKKAR)
Ôãã¢ãñªãÀ Partner Ôãã¢ãñªãÀ Partner
M.No.114196
M.No. 08460
hŸÅ˜ÅÄ hŸÅ˜ÅÄ
iÅÒlˆÅÓ›ÅŊÅÅÓhăiÅÄl›Å˜ÅÅÊ For PATRO & CO iÅÒlˆÅÓhŸÅ±Å¨ÅÊÅƘŮÅŶŘÅhăh¶ÅÅÓÅƯÅh}öŠFor M SRINIVASAN & ASSOCIATES
¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢ Chartered Accountants ¶Å˜ÅŒÅʬÅÓnÅÅiÅlÅ¢
FRN 310100E Chartered Accountants
h›ÅldÅÅ¢h˜Åe¥ h›ÅldÅÅ¢h˜Åh¶Å FRN 004050S

(h˜ÅdÅŘÅČ¢Å®Å (N ANANDA RAO) hŸÅ±Å¨ÅÊÅƘŮÅŶŘŠ(M SRINIVASAN)

Partner Partner
Ôãã¢ãñªãÀ M.No. 051656 Ôãã¢ãñªãÀ M.No.022959
hŸÅ¶ÅÄn ÅÅ hŸÅ¶ÅÄn ÅÅ
Ô©ãã¶ã : Þãñ¸ãõ Place : Chennai
Åƌ˜ÅÅÄiÅl 'DWH

123
dŘÅζÅÐÀÅÅÊ SCHEDULE - 1 AS AT AS AT
31.03.2019 31.03.2018
ˆÅiÅl ˆÅiÅl
›ÅÐÜwÅÅÊ CAPITAL £¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
›Å¨ÅÅƅÅiÅÒlˆÅ›ÅÐÜwÅÅÊ AUTHORISED CAPITAL
›Å¨ˆ ÅÓiÅl £ iÅÓl  eÅÆiÅm®Å}ÅÊÊ ¯ÅӠŢ ÅƛÅ~¬ÅÓ 1000,00,00,000 Equity Shares of Rs.10/- each
®ÅµÅ¥›Å¨ˆ ÅÓiÅl£iÅÓleÅÆiÅm®Å}ÅÊʯÅӠŢ (Previous year- 1000,00,00,000 Equity shares
of Rs. 10/- each) 10000 00 00 10000 00 00
ÅƘźťÅƟňÅdÅÅƞŌ‰Å®Å›Å¨ŒˆÅ›ÅÐÜwÅÅÊ ISSUED, SUBSCRIBED & PAID UP CAPITAL
›Å¨ˆ ÅÓiÅl£iÅÓleÅÆiÅm®Å}ÅÊʯÅӠŢ 914,16,48,218 Equity Shares of Rs.10/- each 9141 64 82 4890 76 99
e¶ÅŸÅÔ iÅÓl˜•ÅÊ Å ¶Å¢iÅlÅ¢ –ŢŠ…ÅÅÅÆ¢ˆÅ ›Å¨ˆ ÅÓiÅl £ iÅlÓ (Includes 845,75,62,532 Equity Shares of
¯ÅӠŢ¯ÅÅÅƟŬŸ× Rs.10/- each held by Government of India)

ÅƛÅ~¬ÅӮŵť›Å¨ˆ ÅÓiÅl£iÅÓleÅÆiÅm®Å}ÅÊʯÅӠŢ Previous year 489,07,69,975 Equity Shares of

Rs.10/- each
e¶ÅŸÅÔ iÅÓl˜•ÅÊ Å ¶Å¢iÅlÅ¢ –ŢŠ…ÅÅÅÆ¢ˆÅ ›Å¨ˆ ÅÓiÅl £ iÅlÓ (Includes 438,90,84,289 Equity Shares of
¯ÅӠŢ¯ÅÅÅƟŬŸ× Rs.10/- each held by Government of India)

dŘÅζÅÐÀÅÅÊ SCHEDULE - 2 AS AT AS AT
RESERVES & SURPLUS 31.03.2019 31.03.2018
dÅÅ¢ÅÆÂÅÅƈŠÅÅÜ®ÅdÅÅƅůÅӵŠˆÅiÅl ˆÅiÅl
£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
, ¯ÅӠŢ›Å¨ÅÊÅƟŠşŠI. SHARE PREMIUM
‚ã©ã ÍãñÓã Opening balance 4029 07 62 7650 06 22
 wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 1972 58 90 3357 95 90
¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅ Less: Deductions 0 6978 94 50
 ÅÅÓºÅ, TOTAL-I 6001 66 52 4029 07 62
,, ¶ÅÅÄÅÆ®ÅÅƅÅiÅldÅÅ¢ÅÆÂÅÅƈŠÅÅÜ II. STATUTORY RESERVE
‚ã©ã ÍãñÓã Opening balance 2962 11 87 2962 11 87
 wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 0 0
 ¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅÜ Less: Deductions 35 34 25 0
 ÅÅÓºÅ,, TOTAL-II 2926 77 62 2962 11 87
,,, ›ÅÐÜwÅÅÊdÅÅ¢ÅÆÂÅÅƈŠÅÅÜ III. CAPITAL RESERVE
 dÅ ›ÅΘşÅÐ¥¬ ÅÅÄiÅl˜ÅdÅÅ¢ÅÆÂÅÅƈŠÅÅÜ A. Revaluation Reserve
‚ã©ã ÍãñÓã Opening Balance 2103 25 95 2165 43 78
  wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 605 34 69 5 85 02
  ¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅÜŸÅЬ Å¸¨Å¶Å Less: Deductions / Depreciation 223 61 28 68 02 85
 ÅÅÓºÅdÅ TOTAL-A 2484 99 36 2103 25 95
 dÅÅ ÅƘŮÅÓ¯ÅÅÔiÅlÅÊÅƜÅkÅlÅʛŢ B. On sale of Assets
‚ã©ãÍãñÓã Opening Balance 1257 87 97 1183 67 30
  wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 164 14 50 74 20 67
 ÅÅÓºÅdÅÅ TOTAL-B 1422 02 47 1257 87 97
e dŘ Å C. Others
‚ã©ãÍãñÓã Opening Balance 152 96 12 152 96 61
 wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 6 06 - 48
 ÅÅÓºÅe TOTAL-C 153 02 18 152 96 13
 ÅÅÓºÅ,,,dÅdÅÅe TOTAL - III (A,B,C) 4060 04 01 3514 10 05

124
 AS AT AS AT
31.03.2019 31.03.2018
ˆÅiÅl ˆÅiÅl
£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
,9 ¢ÅwŶ®Å®ÅdŘ ÅdÅÅ¢ÅÆÂÅÅƈŠÅÅÜ IV. REVENUE & OTHER RESERVES
 h dŘ Å¢ÅwŶ®ÅdÅÅ¢ÅÆÂÅÅƈŠÅÅÜ A Other Revenue Reserves
‚ã©ãÍãñÓã Opening Balance 3177 93 48 2460 56 67
  wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 155 96 06 817 36 79
  ¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅÜ Less: Deduction 0 100 00 00
 ÅÅÓºÅdÅ TOTAL-A 3333 89 54 3177 93 46
 œÅÅÊ ÅƮůÅÓµÅdÅÅ¢ÅÆÂÅÅƈŠB Special Reserve
‚ã©ãÍãñÓã Opening balance 0 741 60 00
  wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 0 0
  ¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅÜ Less: Deductions 0 741 60 00
 ÅÅÓºÅdÅÅ TOTAL-B 0 0
 ¶ÅÅÊ ÅƘŮÅÓ¯ÅdÅÅ¢ÅÆÂňÅnÅňÅÅ C Investment Reserve Account
‚ã©ãÍãñÓã Opening Balance 97 95 58 97 95 58
 wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 0 0
 ¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅÜ Less: Deductions 0 0
 ÅÅÓºÅe TOTAL-C 97 95 58 97 95 58
 ƒÅÊ ÅƮŌӯÅÅÊŸÅΕŬÅӘŌӘÅÅÆ¢wŮť D Foreign Currency Translation
Reserve
‚ã©ãÍãñÓã Opening balance 975 72 41 854 38 35
wÅÅÓރÔ›ÅÅÆ¢®Å…Å¥˜Å Add: Additions 204 24 18 121 34 06
  ¾Å}ÅhÜiÅl}Å×ÅƈŠÅÅÜ Less: Deduction 106 34 54 0
 ÅÅÓºÅe¥ TOTAL - D 1073 62 05 975 72 41
  iÅÎl¬Å,9$%&' TOTAL - IV (A,B,C,D) 4505 47 17 4251 61 45
V. PROFIT AND LOSS ACCOUNT -10275 72 32 -6373 69 72
9 ¬ÅŞÅh®ÅĸÅÅƘÅnÅňÅÅ TOTAL ( I, II , III, IV & V) 7218 22 99 8383 21 30
  iÅÎl¬Å,,,,,,,9 9)
dŘÅζÅÐÀÅÅÊ SCHEDULE - 3 AS AT AS AT
DEPOSITS 31.03.2019 31.03.2018
wşÅÅhÄ ˆÅiÅl
ˆÅiÅl
£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
dÅI. ŸÅÅܺÅwşÅÅhÄ A. I. DEMAND DEPOSITS
 , œÅØiÅlÅÔ¶ÅÓ i) From Banks 12 22 89 13 75 08
,, dŘ ÅÅÔ¶ÅÓ ii) From Others 14562 89 48 12921 78 27
 ÅÅӺŠI TOTAL - I 14575 12 37 12935 53 35
,, œÅÀňÅœÅØiÅlwşÅÅhÄ II. SAVINGS BANK DEPOSITS 70652 22 11 66742 31 60
,,, ŸÅÅÊ ÅŌÅÊwşÅÅhÄ III. TERM DEPOSITS
L œÅØiÅlÅÔ¶ÅÓ i) From Banks 4 61 94 0
 LL dŘ ÅÅÔ¶ÅÓ ii) From Others 137302 11 30 137153 96 15
 ÅÅÓºÅ,,, TOTAL - III 137306 73 24 137153 96 15
 ÅÅÓºÅdÅ,,, ,,, TOTAL - A ( I,II & III ) 222534 07 72 216831 81 11

nÅ , žÅÅ¢ˆÅiÅlÅʯÅÅnÅÅdÅÅÔŸÅÔwşÅÅhÄ B. I) Deposits of branches in India 217962 67 40 210387 94 26

 ,, žÅÅ¢ˆÅiÅÓlœÅŸ¢iÅlÅʯÅÅnÅÅdÅÅÔŸÅÔwşÅÅhÄ II) Deposits of branches outside India 4571 40 32 6443 86 85
 ÅÅÓºÅdÅÅ TOTAL - B 222534 07 72 216831 81 11

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BORROWINGS 31.03.2019 31.03.2018
ÅƬŠÅӺŠÅÓf…ÅÅ¢ ˆÅiÅl ˆÅiÅl

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

, žÅÅ¢ˆÅŸÅÔÅƬÅhºÅhf…ÅÅ¢ I. BORROWINGS IN INDIA

 žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅl Reserve Bank of India 0 0

 dŘ ÅœÅØiÅl Other Banks 0 0

 dŘ Å¶ÅĶ‹ÅÅhÜdÅÅ×¢dÅÅƞÅiÅl¢‡Å Other Institutions & Agencies 1978 52 93 2117 61 87

 ˜Å®ÅÅӘŸÅÓµÅÅʶ‹ÅÅ ÅÅÊŠÅ«‡ÅÅƬÅnňÅdÅÅe¥›ÅÅʃÅÊdÅÅe¥ Innovative Perpetual Debt 300 00 00 1300 00 00

Instruments (IPDI)

 œÅÅۇƒiÅÓlˆÅÅ×¢›Å¢wÅÅ¢ÅʸÅeÅƜŨƒiÅlwÅ¥›ÅÐÄwÅÅÊÅƬÅnňŠHybrid Debt Capital Instruments 1477 00 00 2132 30 00

issued as Bonds

dŅÅÅʘŶ‹ÅiÅlwÅ¥ Subordinated Debt 2390 00 00 2390 00 00

 ÅÅÓºÅ, TOTAL (I) 6145 52 93 7939 91 87

,, žÅÅ¢ˆÅiÅÓlœÅŸ¢¶ÅÓÅƬÅhºÅhf…ÅÅ¢ II. BORROWINGS OUTSIDE INDIA 50 86 1288 16 24

 ÅÅÓºÅ,®Å,, TOTAL ( I & II) 6146 03 79 9228 08 11

,,, g›Å¢,®Å,,ŸÅÔ¶ÅÅƟŸÅÅƬňśŨÅƈŞÅЈÅf…ÅÅ¢ III. Secured borrowings included in 1978 52 93 2117 61 87

I & II above

dŘÅζÅÐÀÅÅÊ SCHEDULE - 5 AS AT AS AT
OTHER LIABILITIES & PROVISIONS 31.03.2019 31.03.2018
dŘ ÅŒÓ ÅˆÅÅ ÅԮśŨŮŅÅŘŠˆÅiÅl ˆÅiÅl

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

, ŒÓ ÅÅƜŬŠI. Bills Payable 547 93 92 602 87 38

,, dÅĈŢiÅlÅ ÅÅ¥¬Å Å¶ÅŸÅÅ ÅÅÓwŘÅÅƘŮŬÅ II. Inter Office Adjustments ( Net) 0 0

,,, ›Å¨ÅӌÞÅЈÅœ ÅÅwÅ III. Interest Accrued 73 14 95 39 28 63

,9 dŘ Åe¶ÅŸÅԛŨŮŅÅŘŶÅÅƟŸÅÅƬňŸØ IV. Others ( including provisions) 4347 27 58 7991 99 50

 ÅÅӺŠTOTAL 4968 36 45 8634 15 51

126
dŘÅζÅÐÀÅÅÊ SCHEDULE - 6 AS AT AS AT
CASH AND BALANCES WITH RESERVE 31.03.2019 31.03.2018
žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅlŸÅÓĘÅiÅlŒÅÊdÅÅ×¢¯ÅӵşÅÓĘÅiÅlŒÅÊdÅÅ×¢¯ÅӵŠˆÅiÅl ˆÅiÅl
BANK OF INDIA

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

, ¸Å‹ÅŸÅÔ ˜ÅiÅlŒÅÊ e¶ÅŸÅÔ ÅƮŌӯÅÅÊ ŸÅΕŘÅÅÓ}dÅÅ×¢h}ÅÊhŸÅ I. Cash on hand (including Foreign 1028 53 28 1449 08 35
˜ÅiÅlŒ¶ÅÅƟŸÅÅƬňŸØ currency notes & ATM cash)

,, žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅliÅÓl¶ÅŋůÅӵŠII. Balances with Reserve Bank of India

 L ÀÅŬÅÐnÅňÅÓŸÅÔ¯ÅӵŠi) in Current Account 9261 08 58 10134 83 88

 LL dŘ ÅnÅňÅÅÔŸÅÔ¯ÅӵŠii) in Other Accounts 2 91 37 -4 47 19

 ÅÅӺŠTOTAL 10292 53 22 11579 45 04

dŘÅζÅÐÀÅÅÊ SCHEDULE - 7 AS AT AS AT
BALANCES WITH BANKS AND MONEY AT 31.03.2019 31.03.2018
œÅØiÅlÅÔŸÅÔ¯ÅÓµÅdÅÅ×¢ŸÅÅܺśŢˆÅ‹ÅÅdŬ›Å¶ÅÐÀŘÅśŢ›Å¨Å› Å…ŘŠˆÅiÅl ˆÅiÅl
CALL AND SHORT NOTICE

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
, žÅÅ¢ˆÅŸÅÔ I. In India

 , œÅØiÅlÅÔŸÅÔ¯ÅӵŠi) Balances with banks

iÅl ÀÅŬÅÐÝnÅňÅÅÔŸÅÔ a) In Current Accounts 18 71 17 100 08 20

nÅ dŘ ÅwşÅÅnÅňÅÅÔŸÅÔ b) In Other Deposit Accounts 195 53 63 127 96 24

 ,, ŸÅÅܺśŢˆÅ‹ÅÅdŬ›Å¶ÅÐÀŘÅśŢ›Å¨Å› Å…ŘŠii) Money at Call and Short Notice

  iÅl œÅØiÅlÅÔiÅÓl¶ÅŋŠa) With banks 18225 00 00 12800 00 00

  nÅ dŘ Å¶ÅĶ‹ÅÅdÅÅÔiÅÓl¶ÅŋŠb) With other institutions 0 0

 ÅÅÓºÅß TOTAL-I 18439 24 80 13028 04 44

,, žÅÅ¢ˆÅiÅÓlœÅŸ¢ II. Outside India

 iÅl ÀÅŬÅÐnÅňÅÅÔŸÅÔ a) In Current Accounts 429 96 11 581 49 15

 nÅ dŘ ÅwşÅÅnÅňÅÅÔŸÅÔ b) In Other Deposit Accounts 1196 28 86 754 66 95

 ºÅ ŸÅÅܺśŢˆÅ‹ÅÅdŬ›Å¶ÅÐÀŘÅśŢ›Å¨Å› Å…ŘŠc) Money at Call and Short Notice 533 46 80 601 33 50

 ÅÅÓºÅßß TOTAL-II 2159 71 77 1937 49 60

 ÅÅÓºÅ,h®ÅÄ,, TOTAL (I & II) 20598 96 56 14965 54 04

127
dŘÅζÅÐÀÅÅÊ SCHEDULE - 8 AS AT AS AT
31.03.2019 31.03.2018
ÅƘŮÅӯŠINVESTMENTS ˆÅiÅl ˆÅiÅl

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
, žÅÅ¢ˆÅŸÅÔÅƘŮÅӯŠI. INVESTMENTS IN INDIA

 L ¶Å¢iÅlÅ¢ÅʛŨÅƈŞÅÐÅƈŠÅÅÜ i) Government Securities 57625 02 49 56788 74 23

 LL dŘ ÅdŘÅΟÅÅÓÅƌˆÅ›Å¨ÅƈŞÅÐÅƈŠÅÅÜ ii) Other Approved Securities 1 33 95 1 33 95

 LLL ¯ÅӠŢ iii) Shares 896 95 05 1201 31 97

 LY ÅƃœÅÔÀÅ¢dÅÅ×¢œÅąÅ›ÅŠÅ iv) Debentures and Bonds 1902 83 61 2962 91 63

 Y dŘÅεÅĺÅÅʶÅÄ ÅÎiÅmˆÅf”ÅŸÅ v) Subsidiaries/ Joint Ventures 0 0

 YL dŘ ÅÅƘŮÅӯŠvi) Other Investments 2686 15 33 4057 05 58

  Ÿ ÅÐÀ ÅÎdŬÅ›ÅlăwşÅÅdÅÅÔ iÅlÅÊ ®ÅÓÄÀÅ¢›ÅÐÜwÅÅÊ ›Ålă (Investments in Mutual Funds,

wşÅśŨŸÅŇśŊÅdÅÅ×¢¶ÅÅÊ›ÅÅÊŸÅÔÅƘŮÅÓ¯Å Venture Capital Funds Certificate
of Deposits and CP)

 ÅÅÓºÅ, TOTAL - I 63112 30 43 65011 37 36

,, žÅÅ¢ˆÅiÅÓlœÅŸ¢ÅƘŮÅӯŠII. INVESTMENTS OUTSIDE INDIA

 L ¶Å¢iÅlÅ¢ÅʛŨÅƈŞÅÐÅƈŠÅÅÜ i) Government Securities 3351 12 05 2895 78 39

(including Local Authorities)
  ¶‹ÅÅÅƘŠÅ›Å¨ÅÅƅÅiÅlÅ¢¶ÅÅƸˆÅ
 LL dŘ ÅdŘÅΟÅÅÓÅƌˆÅ›Å¨ÅƈŞÅÐÅƈŠÅÅÜ ii) Other Approved Securities 0 0

 LLL ¯ÅӠŢ iii) Shares 8 05 8 55

 LY ÅƃœÅÔÀÅ¢dÅÅ×¢œÅąÅ›ÅŠÅ iv) Debentures and Bonds 275 32 62 545 25 18

 Y dŘÅεÅĺÅÅʶÅÄ ÅÎiÅmˆÅf”ÅŸÅ v) Subsidiaries/ Joint Ventures 193 44 19 193 44 17

 YL dŘ ÅÅƘŮÅӯŠvi) Other Investments 0 0

 ÅÅÓºÅ,, TOTAL - II 3819 96 91 3634 56 29

 ÅÅÓºÅ,h®ÅÄ,, TOTAL ( I & II ) 66932 27 34 68645 93 65

žÅÅ¢ˆÅŸÅÓ¶ÅiÅl¬ÅÅƘŮÅӯŠGross Investments in India 65380 61 57 66619 26 32

¾Å}ÅhÜŸÅЬ Å¸¨Å¶Å Less: Depreciation 2268 31 13 1607 88 97

¾Å}ÅhÜ›ÅЇť¶ÅÅÄ¢¥ÅÆÀňÅÅƘŮÅӯśŢœ ÅÅwÅ Less: Interest on Restructured Investments 0 0

ãä¶ãÌãÊã ãäÌããä¶ã£ãã¶ã Net Investments 63112 30 44 65011 37 35

žÅÅ¢ˆÅiÅÓlœÅŸ¢¶ÅiÅl¬ÅÅƘŮÅӯŠGross Investments Outside India 3829 22 32 3643 86 92

¾Å}ÅhÜŸÅЬ Å¸¨Å¶Å Less: Depreciation 9 25 41 9 30 62

ãä¶ãÌãÊã ãäÌããä¶ã£ãã¶ã Net Investments 3819 96 91 3634 56 31

iÅlάÅÅƘŮŬÅÅƘŮÅӯŠTotal Net Investments 66932 27 34 68645 93 65

128
dŘÅζÅÐÀÅÅÊ SCHEDULE - 9 AS AT AS AT
ADVANCES 31.03.2019 31.03.2018
dÅÅƺŨŸÅ ˆÅiÅl ˆÅiÅl

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

iÅl , kÅl ÅÅÆiÅlhºÅh®ÅÅƟňÅÅÊiÅlÅ}Ó ›Å¢žÅκňÅŘÅÅÆiÅlh A. i) Bills Purchased & Discounted 1990 83 80 2697 83 42

ºÅhÅƜŬÅ

 ,, ¢ÅÓiÅlރ f…ÅÅ¢ dÅÅӮރªÅ›Åm} dÅÅ×¢ ŸÅÅܺÅ  ›Å¢ ii) Cash Credits, Overdrafts and 91852 45 64 54801 73 00
¹ãÆãä¦ãÔãâªñ¾ã „£ããÀ Loans repayable on demand

 ,,, ¶ÅÅ®ÅÅƅÅf…ÅÅ¢ iii) Term Loans 38754 33 52 74989 25 07

 ÅÅӺŠTOTAL 132597 62 96 132488 81 49

nÅ , dÅÅÅƶˆÅ ÅÅԖŢśŨÅƈŞÅЈŠB. i) Secured by Tangible Assets 104745 67 47 107009 57 08

  œÅ¸ÅʺňÅŠÅ«‡ÅÅÔiÅÓl›Å¨ÅƈÅdÅÅƺŨŸÅÅÔ¶ÅÅƸˆÅ (includes advances against Book
Debts)

 ,, œÅØiÅl¶Å¢iÅlÅ¢ÅÊwşÅŘňÅÅÓĖŢŶÅÄ¢ÅÆÂňŠii) Covered by Bank/Government 1329 09 61 2598 24 73

Guarantees

 ,,, dśŨÅƈŞÅЈŠiii) Unsecured 26522 85 88 22880 99 68

 ÅÅӺŠTOTAL 132597 62 96 132488 81 49

ºÅ , žÅÅ¢ˆÅŸÅÔdÅÅƺŨŸÅ C. I) Advances in India

  L ›Å¨Å‹ÅÅƟÅiÅlˆÅÅÂÅӊÅ i) Priority Sector 61236 56 25 59885 04 97

  LL ¶ÅŮťwÅÅƘÅiÅlÂÅӊÅ ii) Public Sector 8030 55 71 7879 89 88

  LLL œÅØiÅl iii) Banks

  LY dŘ Å iv) Others 58026 37 56 53257 34 11

 ÅÅӺŠTOTAL 127293 49 52 121022 28 96

,, žÅÅ¢ˆÅiÅÓlœÅŸ¢dÅÅƺŨŸÅ II) Advances Outside India

 L œÅØiÅlÅÔ¶ÅÓ¯ÅÅӅ Å i) Due from Banks 0 260 71 06

 LL dŘ ÅÅÔ¶ÅÓ¯ÅÅӅ Å ii) Due from Others

 iÅl kÅl ÅÅÆiÅlhºÅh®ÅÅƟňÅÅÊiÅlÅ}Ó ›Å¢žÅκňÅŘÅÅÆiÅlh a) Bills Purchased & 1041 25 95 1916 62 04

ºÅhÅƜŬŠDiscounted

 nÅ ¶ÅľŜŐf…ÅÅ¢ b) Syndicated Loans 1593 93 02 2369 28 25

 ºÅ dŘ Å c) Others 2668 94 47 6919 91 18

 ÅÅӺŠTOTAL 5304 13 44 11466 52 53

 ÅÅӺźÅ, ºÅ,, TOTAL (C-I & C-II) 132597 62 96 132488 81 49

129
 dŘÅζÅÐÀÅÅÊ SCHEDULE - 10 AS AT AS AT
Åƶ‹Å¢dÅÅÅƶˆÅ ÅÅÜ FIXED ASSETS 31.03.2019 31.03.2018
ˆÅiÅl ˆÅiÅl

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

, ›ÅÅÆ¢¶Å¢ I. Premises

 ›ÅЮť®ÅµÅ¥iÅÓlŸÅÅÀÅ¥iÅlÅÊÅƶ‹ÅÅƈÅiÅÓldŘÅζÅÅ¢¬ÅźňśŢ At cost / revalued as at beginning of the FY 3416 15 57 3379 17 42

 ®ÅµÅ¥iÅÓlŒÅעŘÅ›ÅÅÆ¢®Å…Å¥˜Å Additions during the year * 731 86 28 36 98 13

4148 01 85 3416 15 55

 ®ÅµÅ¥iÅÓlŒÅעŘÅiÅl}Å×ÅƈŠÅÅÜ Deductions during the year * 112 82 96

4035 18 89 3416 15 55

 dŌàňŘÅŸÅЬ Å¸¨Å¶Å Depreciation to date 972 01 35 835 64 44

 ÅÅÓºÅ, TOTAL-I 3063 17 54 2580 51 11

,, ›ÅÐÜwÅÅʺňÅÀÅŬÅÐiÅlŠť II. Capital work in progress 15 55 23 55 72 03

 ÅÅÓºÅ,, TOTAL-II 15 55 23 55 72 03

,,, dŘ Å Åƶ‹Å¢ dÅÅÅƶˆÅ ÅÅÜ e¶ÅŸÅÔ ›Ål˜ÅÅÌÀÅ¢ dÅÅ×¢ ÅƛÅliÅmÀÅ¢ III. Other Fixed Assets (including
¶ÅÅƟŸÅÅƬňŸ×Ä Furniture & Fixtures)

 ›ÅЮť®ÅµÅ¥iÅÓlŸÅÅÀÅ¥iÅlÅÊÅƶ‹ÅÅƈÅiÅÓldŘÅζÅÅ¢¬ÅźňśŢ At cost as at beginning of the FY 1831 82 87 1796 77 53

 ®ÅµÅ¥iÅÓlŒÅעŘÅ›ÅÅÆ¢®Å…Å¥˜Å Additions during the year 168 41 59 81 82 96

2000 24 46 1878 60 49

 ®ÅµÅ¥iÅÓlŒÅעŘÅiÅl}Å×ÅƈŠÅÅÜ Deductions during the year 40 14 54 46 77 61

1960 09 92 1831 82 88

 dŌàňŘÅŸÅЬ Å¸¨Å¶Å Depreciation to date 1701 92 22 1574 62 64

 ÅÅÓºÅ,,, TOTAL - III 258 17 70 257 20 24

iÅÎl¬Å ÅÅÓºÅ,,, ,,, Total ( I, II & III ) 3336 90 47 2893 43 38

ˆÅiÅlÅÆ®ÅÅƘşŠÅiÅlÅÊŒ¢›Å¢ÅƮŌӯÅÅʯÅÅnÅÅdÅÅÔ¶ÅÓ¶ÅĜÅÄÅƅňÅdÅÅÜiÅlރÅÔiÅlÓ›ÅÅÆ¢®ÅˆÅ¥˜Å¶ÅÓ¸ÏdÅŶşÅÅ ÅÅÓwŘůÅÅÅƟŬŸ×ß
* Includes adjustment on account of conversion of figures relating to foreign branches at the rate of exchange at 31.03.2019

130
dŘÅζÅÐÀÅÅÊ SCHEDULE - 11 AS AT AS AT
OTHER ASSETS 31.03.2019 31.03.2018
dŘ ÅdÅÅÅƶˆÅ ÅÜÅ ˆÅiÅl ˆÅiÅl
£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
, dÅĈŢiÅlÅ ÅÅ¥¬Å Å¶ÅŸÅÅ ÅÅÓwŘÅÅƘŮŬÅ i) Inter Office Adjustments ( Net) 61 19 17 3525 80 24

,, ›Å¨ÅӌÞÅЈÅœ ÅÅwÅ ii) Interest Accrued 2512 96 52 2417 34 13

,,, dÅÅƺŨŸÅ¤›Å¶ÅÓ¶ÅȉśŨŮŅÅŘÅÅÔiÅlÅÅƘŮŬÅ iii) Tax paid in advance (Net of Provisions) 2856 85 64 1954 84 12

,9 ¬ÅÓnŘÅ¶ÅşźŨÅÊdÅÅ×¢¶}ן›Å iv) Stationery & Stamps 4 17 71 12 02 77

9 ŒÅ®ÅÅÔiÅlÅʶÅĈÅÎÅƵ}ŸÅԛŨśˆÅiÅlÅʺÅe¥ v) Non Banking Assets acquired in 210 01 51 210 01 51

 ºÅ×¢œÅØiÅliÅlÅ¢ÅÊdÅÅÅƶˆÅ ÅÅÜ satisfaction of claims

9, dŘ Å˜ÅŜÅŃ¥iÅÓl›ÅŶÅ¢nÅÓwşÅÅdÅÅÔiÅlÅÓ¯ÅÅÅƟŬÅiÅl¢Ô vi) Others (Include Deposits placed 10604 84 67 9274 82 65

with NABARD)
 ÅÅӺŠTOTAL 16250 05 22 17394 85 42

dŘÅζÅÐÀÅÅÊ SCHEDULE - 12 AS AT AS AT
CONTINGENT LIABILITIES 31.03.2019 31.03.2018
CONTINGENT LIABILITIES
ˆÅiÅl ˆÅiÅl
£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
, œÅØiÅliÅÓlÅƮţŒÅ®ÅÓÅÆwظÔŠÅ«‡ÅiÅÓl¤›ÅŸÅÔ¶®ÅÅÊiÅlÅ¢˜Å¸ÅË i) Claims against the Bank not 45 00 61 47 07 17
ÅÆiÅl ÅźŠÅÅ¸× acknowledged as debts

,, dÅįňŶÅȉÅÅƘŮÅÓ¯ÅÅÓÄiÅÓlÅƬÅhŒÓ ÅˆÅÅ ii) Liability for partly paid investments 11 60 11 60

,,, œÅiÅlÅ ÅŮŊŌÅÅÆ®ÅÅƘşŠÅ¶ÅÄÅƮŌÅdÅÅÔiÅÓlœÅŜňŌӠňÅÅ iii) Liability on account of outstanding 31474 83 92 28543 16 78
forward exchange contracts
,9 ºÅ¨Å¸iÅlÅÓÄiÅlÅÊdÅÅÓ¢¶ÅÓŒÅʺŠÅÅʺÅÅ¢ÄÅÆ} ÅÅÜ iv) Guarantees given on behalf of
constituents
 iÅl žÅÅ¢ˆÅŸÅÔ a) In India 11957 59 19 14151 63 92
 nÅ žÅÅ¢ˆÅiÅÓlœÅŸ¢ b) Outside India 219 54 69 284 32 05
9 ¶ÅiÅlÅ¢›ÅÒµÅÄiÅl˜ÅdÅÅ×¢dŘ ÅœÅŅ ÅˆÅÅhÜ v) Acceptances, Endorsements & 5810 53 35 8933 12 75
Other obligations
9, dŘ Å ŸÅŒÔ ÅÆwŘÅiÅÓl ÅƬÅh œÅØiÅl dÅÅiÅlÅƶŸÅiÅl ¤›Å ¶ÅÓ vi) Other items for which the bank is
fˆˆÅ¢ŒÅ ÅÅÊ¸× contingently liable

L ›ÅÐÄwÅÅʺňÅ nÅňÅÅÔ ›Å¢ ÅƘŵ›ÅÅÅƌˆÅ ¯ÅӵŠdŘÅΜÅąÅÅÓ iÅlÅÊ i) Estimated amount of contracts 51 94 50 22 51 79
dŘÅΟÅÅÅƘňÅ¢ÅÅƯŠremaining to be executed on
capital accounts
LL iÅl¢Ô¶ÅÅʶ®ÅכÅiÅÓlˆÅ¸ˆÅœÅØiÅlŒÓ ÅˆÅÅ ii) Banks liability under currency 1670 41 00 1614 89 00
swaps
LLL œ ÅÅwÅŒ¢¶®ÅכÅ ÅÐh¶ÅƒÅÊ iii) Interest rate swaps (USD) 65 35 48 119 27 51
LY œÃ ÅÅwÅŒ¢¶®ÅכÅdÅÅeh˜ÅdÅÅ¢ iv) Interest rate swaps (INR)
Y iÅl¢Ô¶ÅÅÊdÅÅۛ¯Å˜ÅiÅÓlˆÅ¸ˆÅœÅØiÅlŒÓ ÅˆÅÅ v) Bank's Liability under Currency
Options
YL iŨÓlÅƃ}Åƃ›ÅlÅÛ¬}¶®ÅכŠvi) Credit Default Swaps 81 33 54 18 82 23
YLL žÅÅÅÆ¢œÅ×iÅÓl¶ÅŋŃÅÊe¥hh›ÅlŸÅÔ¢ÅÅƯŠvii) Amount in DEAF with RBI 802 52 55 695 58 45
YLLL dÅÅe}ÅÊŸÅÅĺÅÅƮŮÅŌ vii) Disputed IT demands 4469 45 66 3935 85 30
L[ dŘ Å viii) Others 6 29 6 29
 ÅÅӺŠTOTAL 56648 72 38 58366 44 84

131
dŘÅζÅÐÀÅÅÊ SCHEDULE - 13 Year Ended Year Ended
INTEREST EARNED 31.03.2019 31.03.2018
dÅÅÆwÅ¥ˆÅœ ÅÅwÅ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

L œ ÅÅwÅdÅÅƺŨŸÅœÅ}Ã}ÅÅƜŬÅ i) Interest / discount on advances / bills 11727 00 61 11960 83 33

LL ÅƘŮÅÓ¯ÅÅÓěŢdÅÅ Å ii) Income on investments 4922 28 13 4797 04 05

LLL žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮť œÅØiÅliÅÓl Å¸ÅÜ ¯ÅÓµÅdÅÅ×¢dŘ ÅdÅĈŢœÅØiÅlÅƘÅÅƅŠÅÅÔ iii) Interest on Balances with Reserve Bank 614 14 77 483 68 89
›Å¢œ ÅÅwÅ of India and Other Inter-Bank Funds

,,, dŘ Å iv) Others 367 82 61 673 65 03

 ÅÅӺŠTOTAL 17631 26 12 17915 21 30

dŘÅζÅÐÀÅÅÊ SCHEDULE - 14 Year Ended Year Ended

31.03.2019 31.03.2018
dŘ ÅdÅÅ Å OTHER INCOME iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

L iÅlŸÅÅʯŘÅÅÆ®ÅÅƘşŠÅdÅÅ×¢Œ¬ÅŬÅÅÊ i) Commission, Exchange and Brokerage 976 86 72 1022 12 39

LL ÅƘŮÅÓ¯ÅÅÓÄiÅÓlÅÆ®ÅkÅl Å›Å¢¬ÅŞÅÅƘŮŬÅ ii) Profit on Sale of Investments ( Net ) 732 43 33 640 65 97

Y ÅÆ®ÅÅƘşŠÅ¶ÅÄ® Å®Å¸Å¢ÅԛŢ¬ÅŞÅÅƘŮŬÅ iii) Net Loss on Revaluation of Investments - 34 43 -186 03 09

L žÅÐÅƟÅdÅÅ×¢žÅ®Å˜ÅÅÔiÅÓlÅÆ®ÅkÅl Å›Å¢¬ÅŞÅ®ÅdŘ Å iv) Profit on sale of land, Building & other 100 57 83 1 79 39

‚ãããäÔ¦ã¾ããú Assets

LL ÅÆ®ÅÅƘşŠÅ¶ÅÄ® Å®Å¸Å¢ÅԛŢ¬ÅŞÅÅƘŮŬÅ v) Profit on exchange transactions ( Net ) 524 92 50 590 27 37

YL ÅÆ®ÅÅÅƮŅÅdÅÅ Å vi) Miscellaneous Income 1871 86 14 1677 61 59

 ÅÅӺŠTOTAL 4206 32 09 3746 43 62

132
dŘÅζÅÐÀÅÅÊ SCHEDULE - 15 Year Ended Year Ended
INTEREST EXPENDED 31.03.2019 31.03.2018
nÅÀÅ¥ÅÆiÅl ÅźŠÅÅœ ÅÅwÅ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥
£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)
, wşÅÅdÅÅÓěŢœ ÅÅwÅ i) Interest on Deposits 11548 26 15 11493 83 47

,, žÅÅ¢ˆÅÅÊ ÅÅÆ¢ÝwŮťœÅØiÅldÅĈŢœÅØiÅlf…ÅÅ¢ÅԛŢœ ÅÅwÅ ii) Interest on Reserve Bank of India /Inter- 803 82 02 953 75 21

Bank Borrowings
,,, dŘ Å iii) Others 4 61 5 23

 ÅÅӺŠTOTAL 12352 12 78 12447 63 91

dŘÅζÅÐÀÅÅÊ SCHEDULE - 16 Year Ended Year Ended

OPERATING EXPENSES 31.03.2019 31.03.2018
›ÅÅÆ¢ÀÅŬŘÅ® Å Å iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥ iÅlÅÓ¶ÅŸÅśˆÅ®ÅµÅ¥

£¸wÅÅ¢ÅÔŸÅÔRs. in 000's)

L iÅlŸÅ¥ÀÅÅÅÆ¢ ÅÅÔiÅlÅÓžÅκňÅŘÅdÅÅ×¢f˜ÅiÅÓlÅƬÅh›Å¨Å®Å…ÅŘÅ i) Payments to and provisions for 2646 84 82 2994 14 50

employees

LL žÅÅރÅiÅl¢dÅÅ×¢¢ÅӯŘÅÅÊ ii) Rent, Taxes and Lighting 448 39 42 452 33 97

LLL ŸÅΕ‡ÅdÅÅ×¢¬ÅÓnŘÅ¶ÅşźŨÅÊ iii) Printing and Stationery 24 67 11 25 69 84

LY ÅÆ®ÅyÅśŘÅdÅÅ×¢›Å¨ÀÅÅ¢ iv) Advertisement and Publicity 91 49 60 27

Y œÅØiÅl iÅlÅÊ ¶ÅěÅÅƉÅ ›Å¢ ŸÅЬ Å¸¨Å¶Å ›ÅÐÜwÅÅÊ dÅÅ¢ÅÆÂÅÅƈŠÅÅÔ ¶ÅÓ dÅĈÅÅÆ¢ˆÅ v) Depreciation on Bank's property 304 24 45 272 47 03
dŮŊŇÅiÅlÅÊÅƘŮŬÅ¢ÅÅƯÅ (Net of depreciation transferred from
Revaluation Reserve)

YL ÅƘŌӯÅiÅlÅÔiÅlÅÊ›ÅlÅʶŞʼnÅÓdÅÅ×¢nÅÀÅ¥ vi) Directors' fees, allowances and expenses 1 00 27 78 11

YLL ¬ÅÓnÅśŢÅÊÂÅiÅlÅÔiÅlÅÊ›ÅlÅʶŞʼnÅÓdÅÅ×¢nÅÀÅ¥¯ÅÅnÅŬÅÓnÅśŢÅÊÂÅiÅlÅÔiÅÓl vii) Auditors' fees and expenses (including 31 89 45 28 38 06

¯ÅάiÅl®Å® Å Å¶ÅÅƸˆÅ Branch auditor's Fees and Expenses)

YLLL ÅÆ®ÅÅƅśŨžÅÅ¢ viii) Law charges 26 10 40 23 48 42

L[ ƒÅiÅlˆÅÅ¢}ÓÅƬśÅlÅӘÅdÅÅÅƌ ix) Postages, telegrams, telephones, etc. 60 66 91 57 58 58

[ ŸÅ¢ŸŸÅˆÅdÅÅ×¢dŘÅ΢ÂÅÅ x) Repairs and Maintenance 17 66 76 12 07 68

[L œÅÅʟÅÅ xi) Insurance 234 37 07 221 45 64

[LL dŘ Å® Å Å xii) Other Expenditure 654 80 01 1495 90 44

 ÅÅӺŠTOTAL 4451 58 16 5584 92 54

133
dŘÅζÅÐÀÅÅÊ  ÅƮŌӯÅÅÊŸÅΕŬÅӘŌӘÅ
›Å¨ŸÅÎnŬÅÓnÅŘÅÅÊÅƈŠÅÅÜ  ÅƮŌӯÅÅÊ ŸÅΕÅ ¶ÅÓ wÅÎރÓ ¬ÅӘŌӘÅ iÅlÅ ¬ÅÓnÅÅÄiÅl˜Å ¬ÅÓnÅÅ ŸÅŘÅiÅl hh¶Å  iÅÓl
dŘÅζÅÅ¢ÅÆiÅl ÅÅwÅňÅŸ×ßÅƮŌӯÅÅÊŸÅΕÅŒ¢ÅÔŸÅԛŢ®ÅˆÅ¥˜ÅiÅÓl›Å¨žÅÅ®ÅiÅlÅÓžÅÅ¢ˆÅÅÊ Å
 ˆÅ× ÅÅ¢ÅÊiÅlÅdÅŅÅÅ¢ ÀÅÅ}¥ƒ¥hiÅlÅfÄ}Ô}öŶÅĶ‹ÅŘÅ–Å¢ÅwÅÅ¢ÅÊÅÆiÅl ÅÅwÅňÅŸ×ß
  Å¸ÅƮʼnÅÅÊ ÅÅƮŮއÅhÓÅƈŸÅÅƶÅiÅl¬ÅźňśŢěŢÅiÅÓldÅĈźťˆÅˆÅ× ÅÅ¢ÅÆiÅl ÅźŠÅÅ  }ªÓÝwÅ¢ÅÊiÅÓl¶ÅĜÅąÅŸÅÔ¬ÅӘŌӘÅÅƮŌӯÅÅÊ
¸ØwŜňÅiÅlÅÆiÅldŘ Å‹ÅŘÅiÅl¸ÅºÅ ÅŸÅÓߠŸžÅÅ¢ˆÅŸÅÔdÅşÅˆÅÅ×¢›Å¢¶®ÅÅÊiÅÒlˆÅ
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134
SCHEDULE 17
SIGNIFICANT ACCOUNTING POLICIES
1. Basis of Preparation
1.1 The financial statements have been prepared under the
historical cost convention unless otherwise stated. They
conform to Generally Accepted Accounting Principles
(GAAP) in India, which comprises statutory provisions,
regulatory / Reserve Bank of India (RBI) guidelines,
Accounting Standards / Guidance Notes issued by the
Institute of Chartered Accountants of India (ICAI) and
practices prevalent in the banking industry in India.
In respect of foreign offices, statutory provisions and
practices prevailing in respective foreign countries are
complied with.
Use of Estimates
1.2 The preparation of financial statements requires the
Management to make estimates and assumptions which
are considered in the reported amounts of assets and
liabilities (including Contingent Liabilities) as of the date
of the financial statements and reported income and
expense for the reporting period. Management believes
that the estimates used in the preparation of the financial
statements are prudent and reasonable. Future results
could differ from these estimates.
2. Revenue Recognition and Expense Accounting
2.1 Income is recognized on accrual basis on performing
assets and on realization basis in respect of non-
performing assets as per the prudential norms prescribed
by Reserve Bank of India. Recovery in Non Performing
Assets is first appropriated towards interest and the
balance, if any, towards principal, except in the case of Suit
Filed Accounts and accounts under One Time Settlement,
where it would be appropriated towards principal. In
case of assets sold to Asset Reconstruction Companies
(ARCs), the income is recognised to the extent of cash
component of the Sale Consideration received, where the
sale consideration is over and above Net Book Value (i.e.
Book outstanding less Provisioning).
2.2 Interest on bills purchased/Mortgage Backed Securities,
Commission (except on Letter of Credit/Letter of Guarantee/
Government Business/Insurance), Exchange, Locker Rent
and Dividend are accounted for on realization basis.
2.3 Income from consignment sale of precious metals is
accounted for as Other Income after the sale is complete.
2.4 Expenditure is accounted for on accrual basis, unless
otherwise stated.
2.5 In case of matured overdue Term Deposits, interest is
accounted for as and when deposits are renewed. In
respect of Inoperative Savings Bank Accounts, unclaimed
Savings Bank accounts and unclaimed Term Deposits,
interest is accrued as per RBI guidelines.
2.6 Legal expenses in respect of Suit Filed Accounts are
charged to Profit and Loss Account. Such amount when
recovered is treated as income.
2.7 In respect of foreign branches, Income and Expenditure
are recognized / accounted for as per local laws of the
respective countries.
135
3. Foreign Currency Transactions
3.1 Accounting for transactions involving foreign exchange
is done in accordance with Accounting Standard (AS)
11, “The Effects of Changes in Foreign Exchange Rates”,
issued by The Institute of Chartered Accountants of India.
3.2 Transactions in respect of Treasury(Foreign):
a) Foreign Currency transactions except foreign
currency deposits and lending are recorded
on initial recognition in the reporting currency
by applying to the foreign currency amount the
exchange rate between the reporting currency and
the foreign currency on the date of transaction.
Foreign Currency deposits and lendings are initially
accounted at the then prevailing FEDAI weekly
average rate.
b) Closing Balances in NOSTRO and ACU Dollar
accounts are stated at closing rates. All foreign
currency deposits and lendings including contingent
liabilities are stated at the FEDAI weekly average
rate applicable for the last week of each quarter.
Other assets, liabilities and outstanding forward
contracts denominated in foreign currencies are
stated at the rates on the date of transaction.
c) The resultant profit or loss on revaluation of all
assets, liabilities and outstanding forward exchange
contracts including contingent liabilities at year-
end exchange rates advised by FEDAI is taken
to revenue with corresponding net adjustments
to “Other Liabilities and Provisions”/”Other Asset
Account” except in case of NOSTRO and ACU Dollar
accounts where the accounts stand adjusted at the
closing rates.
d) Income and expenditure items are translated at the
exchange rates ruling on the date of incorporating
the transaction in the books of accounts.
3.3 Translation in respect of overseas branches:
a) As stipulated in Accounting Standard 11, all
overseas branches are treated as Non Integral
Operations.
b) Assets and Liabilities (including contingent
liabilities) are translated at the closing spot rates
notified by FEDAI at the end of each quarter.
c) Income and Expenses are translated at quarterly
average rate notified by FEDAI at the end of each
quarter.
d) The resulting exchange differences are not
recognized as income or expense for the period
but accumulated in a separate account “Foreign
Currency Translation Reserve” till the disposal of
the net investment.
4. Investments
4.1 Investments in India are classified into “Held for
Trading”, “Available for Sale” and “Held to Maturity”
categories in line with the guidelines from Reserve Bank
of India. Disclosures of Investments are made under six
classifications viz.,
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136
 a) Government Securities
b) Other Approved securities including those issued
by local bodies,
c) Shares,
d) Bonds & Debentures,
e) Subsidiaries / Joint Ventures,
f) Units of Mutual Funds and Others.
4.2 Interest on Investments, where interest/principal is in
arrears for more than 90 days and income from Units of
Mutual Funds, is recognized on realization basis as per
prudential norms.
4.3 Valuation of Investments is done in accordance with the
guidelines issued by Reserve Bank of India as under:
4.3.1. Individual securities under “Held for Trading” and
“Available for Sale” categories are marked to market at
quarterly intervals. Central Government securities and
State Government securities are valued at market rates
declared by FIMMDA. Securities of State Government,
other Approved Securities and Bonds & Debentures are
valued as per the yield curve, credit spread rating-wise
and other methodologies suggested by FIMMDA. Quoted
equity shares are valued at market rates, Unquoted equity
shares and units of Venture Capital Funds are valued at
book value /NAV ascertained from the latest available
balance sheets, otherwise the same are valued at Re. 1/-
per company /Fund.
Treasury Bills, Commercial Papers and Certificate of
Deposits are valued at carrying cost. Units held in Mutual
fund schemes are valued at Market Price or Repurchase
price or Net Asset Value in that order depending on
availability.
Valuation of Preference shares is made on YTM basis
with appropriate markup over the YTM rates for Central
Government Securities put out by the PDAI/FIMMDA
periodically.
Based on the above valuations under each of the six
classifications, net depreciation, if any, is provided for and
net appreciation, if any, is ignored. Though the book value
of individual securities would not undergo any change
due to valuation, in the books of account, the investments
are stated net of depreciation in the balance sheet.
4.3.2. “Held to Maturity”: Such investments are carried at
acquisition cost/amortized cost. The excess, if any, of
acquisition cost over the face value of each security is
amortised on an effective interest rate method, over the
remaining period of maturity. Investments in subsidiaries,
associates and sponsored institutions and units of Venture
capital funds are valued at carrying cost.
137
4.4 Investments are subject to appropriate provisioning / de
–recognition of income, in line with the prudential norms
prescribed by Reserve Bank of India for NPA classification.
Bonds and Debentures in the nature of advances are
also subject to usual prudential norms and accordingly
provisions are made, wherever applicable.
4.5 Profit/Loss on sale of Investments in any category is taken
to Profit and Loss account. In case of profit on sale of
investments in “Held to Maturity” category, profit net of
taxes is appropriated to “Capital Reserve Account”.
4.6 Broken period interest, Incentive / Front-end fees,
brokerage, commission etc. received on acquisition of
securities are taken to Profit and Loss account.
4.7 Repo / Reverse Repo transactions are accounted as per
RBI guidelines.
4.8 Investments held by overseas branches are classified and
valued as per guidelines issued by respective overseas
Regulatory Authorities.
5. Advances
5.1 Advances in India have been classified as ‘Standard’, ‘Sub-
standard’, ‘Doubtful’ and ‘Loss assets’ and provisions for
losses on such advances are made as per prudential
norms issued by Reserve Bank of India from time to
time. In case of overseas branches, the classification
and provision is made based on the respective country’s
regulations or as per norms of Reserve Bank of India
whichever is higher.
5.2 Advances are stated net of provisions except general
provisions for standard advances.
6. Derivatives
6.1 The Bank enters into Derivative Contracts in order to
hedge interest bearing assets/ liabilities, and for trading
purposes.
6.2 In respect of derivative contracts which are entered for
hedging purposes, the net amount receivable/payable
is recognized on accrual basis. Gains or losses on
termination on such contracts are deferred and recognized
over the remaining contractual life of the derivatives or
the remaining life of the assets/ liabilities, whichever is
earlier. Such derivative contracts are marked to market
and the resultant gain or loss is not recognized, except
where the derivative contract is designated with an asset/
liability which is also marked to market, in which case, the
resulting gain or loss is recorded as an adjustment to the
market value of the underlying asset/ liability.
6.3 Derivative contracts entered for trading purposes are
marked to market as per the generally accepted practices
prevalent in the industry and the changes in the market
value are recognized in the profit and loss account. Income
and expenses relating to these contracts are recognized
on the settlement date. Gain or loss on termination of the
trading derivative contracts are recorded as income or
expense.
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138
7. Fixed Assets (Property, Plant and Equipment)
7.1 Fixed Assets except revalued premises are stated at
historical cost.
7.2 Depreciation is provided on straight-line method at the
rates considered appropriate by the Management as
under:
Premises 2.50%
Furniture 10%
Electrical Installations, Vehicles & Office 20%
Equipments
Computers 33 1/3 %
Fire Extinguishers 100%
Computer Software 33 1/3%
Depreciation on revalued portion of the fixed assets is
charged to profit and loss account.
7.3 Depreciation is provided for the full year irrespective of the
date of acquisition / revaluation.
7.4 Depreciation is provided on Land and Building as a whole
where separate costs are not ascertainable.
7.5 In respect of leasehold properties, premium is amortised
over the period of lease. The revalued amount on
leasehold property is being amortized over the remaining
period of the lease.
7.6 Depreciation on Fixed Assets of foreign branches is
provided as per the applicable laws/practices of the
respective countries.
8. Staff Benefits
8.1 Contribution to Provident Fund is charged to Profit and
Loss Account.
8.2 Provision for gratuity and pension liability is made on
actuarial basis and contributed to approved Gratuity and
Pension Fund. Provision for encashment of accumulated
leave payable on retirement or otherwise is based on
actuarial valuation at the year-end. However, additional
liability accrued during the year on account of Re-opening
of pension option and enhancement of Gratuity limit is
being amortised over a period of five years.
8.3 In respect of overseas branches gratuity is accounted for
as per laws prevailing in the respective countries.
9. Tax on Income
This comprises provision for current tax and deferred
tax charge or credit (reflecting the tax effects of timing
differences between accounting income & taxable
income for the period) as determined in accordance
with Accounting Standard 22 of ICAI, “Accounting for
taxes on income”. Deferred tax is recognized subject to
consideration of prudence in respect of items of income
and expenses those arise at one point of time and are
139
capable of reversal in one or more subsequent periods.
Deferred tax assets and liabilities are measured using
enacted tax rates expected to apply to taxable income
in the years in which the timing differences are expected
to be reversed. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in the
income statement in the period of enactment of the
change.
10. Earning per Share
The Bank reports basic and diluted earnings per equity
share in accordance with Accounting Standard - 20,
“Earnings Per Share”, issued by The Institute of Chartered
Accountants of India. Basic earnings per equity share has
been computed by dividing net profit for the year by the
weighted average number of equity shares outstanding for
the period. Diluted earnings per share reflect the potential
dilution that could occur if securities or other contracts to
issue equity shares were exercised or converted during
the year. Diluted earnings per equity share have been
computed using the weighted average number of equity
shares and dilutive potential equity shares outstanding
during the period except where the results are anti-
dilutive.
11. Impairment of Assets
The bank assesses at each balance sheet date whether
there is any indication that an asset may be impaired.
Impairment loss, if any, is provided in the Profit and Loss
Account to the extent the carrying amount of assets
exceed their estimated recoverable amount.
12. Accounting for Provisions, Contingent Liabilities and
Contingent Assets
In accordance with Accounting Standard 29, “Provisions,
Contingent Liabilities and Contingent Assets”, issued by
the Institute of Chartered Accountants of India, the Bank
recognizes provisions when it has a present obligation as
a result of a past event, it is probable that an outflow of
resources embodying economic benefits will be required
to settle the obligation and when a reliable estimate of the
amount of the obligation can be made.
Provisions are determined based on management
estimate required to settle the obligation at the balance
sheet date, supplemented by experience of similar
transactions. These are reviewed at each balance sheet
date and adjusted to reflect the current management
estimates. In cases where the available information
indicates that the loss on the contingency is reasonably
possible but the amount of loss cannot be reasonably
estimated, a disclosure is made in the financial
statements.
Contingent Assets, if any, are not recognized or disclosed
in the financial statements.
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140
SCHEDULE 18
NOTES TO ACCOUNTS
1. Reconciliation
Reconciliation of Inter Branch transactions has been completed up to 31.03.2019 and steps for elimination of outstanding entries are
in progress. The Management does not anticipate any material consequential effect on reconciliation / elimination of outstanding
entries.
2. Investments
2.1 In accordance with RBI guidelines, the investments portfolio of the bank has been classified into three categories, as given
below:
Category Gross Book Value (Rs. in crore)
31.03.2019
Held to Maturity 48 740.38
Available for Sale 20 409.89
Held for Trading 59.57
2.2 SLR Securities (domestic) under “Held to Maturity”
accounted for 15.70 % (previous Year 18.83%) of bank’s
Demand and Time liabilities as at 31st March 2019
as against ceiling of 19.50% (previous year 19.50%)
stipulated by RBI.
2.3 In respect of Held to Maturity category of Investments,
premium of Rs.66.20 Crore was amortized during the year
(previous year Rs.68.62 Crore).
2.4 Securities of Face Value for Rs.1005.50 Crore (previous
year Rs.1005.50 Crore) towards CCIL Settlement
Guarantee Fund/Default Fund and securities for
Rs.4714.50 Crore (previous year Rs.9168.57 Crore)
towards collateral for borrowing under TREPS/Default
Fund have been kept with Clearing Corporation of India
Limited. The Bank has placed securities of face value
Rs.1500 Crore (previous year Rs.1500 Crore) with RBI for
intraday borrowing. The Bank has also placed Securities
to the extent of Rs.5415 Crore (previous year Rs.6150
Crore) with Reserve Bank of India for our borrowing
under the LAF window. Besides, securities to the extent
of Rs.85.34 Crore (previous year Rs.57.38 Crore) has
been lodged with CCIL towards default fund for Forex
operations and Rs.12.50 Crore (previous year Rs.12.50
Crore) held with currency derivative segment.
2.5 Shares under Investments in India in Regional Rural
Banks is Rs.250.88 Crore (previous year Rs.222.04 Crore)
including amount towards share capital Deposits.
2.6 The Bank sold Government Securities from HTM category
during the year, both outright and RBI’s Open Market
Operations (OMO). The extent of sale by the Bank under
OMO was Rs.6365.32 crore (BV) [previous year NIL] and
earned a profit of Rs.100.22 crore [previous year NIL]. The
Bank has also sold Government Securities (other than
OMO), to the extent of Rs.2039.92 Crore (BV) [previous
year Rs.573.86 Crore] (within 5%, prescribed limit of RBI)
and booked a profit of Rs.45.67 Crore (previous year
Rs.19.01 Crore).
3. Advances
3.1 The Classification for advances and provisions for
possible loss has been made as per prudential norms
issued by Reserve Bank of India.
3.2 Claims pending settlement and claims yet to be lodged
with Guarantee Institutions identified by the branches
have been considered for provisioning requirements on
the basis that such claims are valid and recoverable.
Percentage to Total Investments (%)
31.03.2018 31.03.2019 31.03.2018
49 241.08 70.42 70.09
21 009.86 29.49 29.91
0.00 0.09 0.00
3.3 In assessing the realisability of certain advances,
the estimated value of security, Central Government
Guarantees etc. have been considered for the purpose of
asset classification and income recognition.
3.4 The classification of advances, as certified by the
Branch Managers have been incorporated, in respect of
unaudited branches.
3.5 The Reserve Bank of India, vide Circular No. DBR.No.BP.
BC.79/21.04.048 / 2014-15 dated 30.03.2015, allowed
banks to utilize up to 50% of Counter-cyclical Provisioning
Buffer / Floating Provisions held by them as at the end
of 31.12.2014. During the year 2018-19, Bank has not
utilized any portion of Counter-cyclical Provisioning Buffer
[previous year NIL] out of balance in Counter-cyclical
Provisioning Buffer of Rs.338.22 Crore held (as on
March 31, 2018) for meeting specific provisions for Non-
Performing Assets.
4. Fixed Assets (Property, Plant and Equipment)
During the financial year 2018-19 the entire Land & Building
of the Bank (including Lease hold property) were revalued
based on the valuation report of the approved valuers. The net
appreciation of Rs.605.34 Crores was added to the carrying
value of the asset and credited to the revaluation reserve. The
revalued amount on leasehold premises is amortised over the
remaining period of the lease.
Profits on sale of assets during the year 2018-19 was Rs.82.34
crores, of which an amount of Rs. 67.65 Crores has been
transferred to Capital Reserve.
5. Rupee Interest Rate Swap
Deferred income on account of gains on termination of Rupee
Interest Rate Swaps taken for hedging as on 31st March 2019 is
NIL (previous year NIL). This amount, if any, is to be recognized
over the remaining contractual life of Swap or life of the Assets/
Liabilities, whichever is earlier.
6. Capital and Reserves
1. During the year, the Bank has successfully raised
Basel III Compliant Tier II Bonds Series II to the tune
of Rs.300 crores.
141
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142
 2. During the Financial Year ended 31.03.2019,
  ‡ %DQNKDVDOORWWHGHTXLW\VKDUHV
of Rs.10/- each (Rupees Ten only) for cash at
Issue Price of Rs.15.71 per share (including
premium of Rs.5.71 per equity shares) on
preferential basis to GOI on 12.11.2018 for
Capital infusion of Rs.2157 crore.
  ‡ %DQNKDVDOORWWHGHTXLW\VKDUHV
of Rs.10/- each (Rupees Ten only) for cash
at Issue Price of Rs. 14.12 per equity share
(including premium of Rs.4.12 per equity
share) on 28.03.2019 for Capital infusion of
Rs.3806 crores.
  ‡ %DQNKDVDOORWWHGHTXLW\VKDUHV
of Rs.10/- each (Rupees Ten only) for cash at
Issue Price of Rs.11.90 per share (including
premium of Rs.1.90 per equity shares)
to Employees under Employees Stock
Purchase Scheme (IOB-ESPS 2018) on
04.02.2019 augmenting capital to the extent of
Rs.260.47 crore.
7. Taxes
7.1 Taking into consideration the decisions of Appellate
Authorities, judicial pronouncements and the opinion
of tax experts, no provision is considered necessary in
respect of disputed and other demands of income tax
aggregating Rs.4446.63 Crore (previous year Rs.3916.26
Crore) and Service Tax aggregating to Rs.192.28 crore
(previous year 263.22 crore).
7.2 Tax expense for the year is Rs.(-)2222.66 Crore net of
deferred tax of Rs.2236.80 crore – refer note No.19.6.
7.3 In accordance with Accounting Standard: 22 – “Accounting
for Taxes on Income” issued by the Institute of Chartered
Accountants of India and the extant guidelines, Bank
has recognized net Deferred Tax Assets of Rs.2236.80
Crore during the year ended 31st March, 2019 on timing
differences and unabsorbed depreciation losses.
8. Pending Bipartite settlement, the Bank has during the year
2018-19 made an adhoc provision of Rs.69.96 crore towards
revision of wages due with effect from November 2017.
9. Information relating to vendors registered under Micro,
Small and Medium Enterprises Development Act, 2006 and
from whom goods and services have been procured by the
Bank has been disclosed to the extent information was made
available to the Bank by the vendors.

DISCLOSURES AS PER RBI REQUIREMENTS:

10. Capital

S. Particulars 2018-19 2017-18

No.
In %
i) Common Equity Tier 1 Capital Ratio 7.82 6.39
ii) Tier I Capital 7.85 7.17
iii) Tier 2 Capital 2.36 2.09
iv) Total Capital Ratio (CRAR) 10.21 9.25
v) Percentage of the shareholding of the Government of India 92.52 89.74
Rs. In Crore
vi) Amount of Equity Capital raised (excluding security premium received) 4 250.88 2 436.04
vii) Amount of Additional Tier 1 raised Nil Nil
viii) Amount of Tier 2 capital raised 300 Nil
11. Investments
11.1 Value of Investments
(Rs. in Crore)

S. Particulars 2018-19 2017-18

No.
(i) Gross Value of Investments*
(a) In India 65 380.62 66 619.26
(b) Outside India 3 829.22 3 643.87
(ii) Provisions for Depreciation
(a) In India 2 268.31 1 607.89
(b) Outside India 9.25 9.31
(iii) Net value of Investments
(a) In India 63 112.30 65 011.37
(b) Outside India 3 819.97 3 634.56
*net of provision held for NPI

143
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144
11.2 Movement of Provisions held towards depreciation on Investments
(Rs. in Crore)

S. Particulars 2018-19 2017-18

No.
(i) Opening Balance 1 607.89 762.18
(II) ADD: Provisions made during the year 668.94 892.70
(iii) LESS: Write-off/Write-Back of excess provisions during the year 8.52 46.99
(iv) Closing Balance 2 268.31 1 607.89
11.3 Inter Bank Repo transactions (in face value terms)
(Rs. in Crore)

Particulars Minimum Maximum Daily average Outstanding as on

outstanding during outstanding during outstanding during March 31st
the year the year the year
18-19 17-18 18-19 17-18 18-19 17-18 18-19 17-18
Securities sold under Repo
i. Government securities -- -- -- -- -- -- -- --
ii Corporate debt securities -- -- -- -- -- -- -- --
Securities Purchased under reverse repo
i. Government securities -- -- -- -- -- -- -- --
ii. Corporate debt securities -- -- -- -- -- -- -- --

11.4 Non-SLR Investment Portfolio

11.4.1 Issuer Composition of Non-SLR Investments
(Rs. in Crore)
S. Issuer Amount As on Extent of Extent of Extent of Extent of
No 31.03.19 Private ‘Below ‘Unrated’ ‘Unlisted’
Placement investment securities securities
grade’
securities
(1) (2) (3) (4) (5) (6) (7)
(i) PSUs 11 318.52 11 230.01 21.80 -- --
(ii) FIs 277.72 261.61 -- -- --
(iii) Banks 779.40 539.31 126.72 8.75 8.75
(iv) Private Corporates 5 481.41 5 154.91 105.83 149.39 50.00
(v) Subsidiaries / Joint Ventures 199.58 -- -- -- --
(vi) Others (Including Overseas Non 3 360.08 -- -- -- --
Government Investments)
(vii) Provision held towards (1 950.98) (1 678.98) -- -- --
depreciation
Total 19 465.73 15 506.86 254.35 158.14 58.75
11.4.2 Non Performing Non SLR Investments
(Rs. in Crore)

Particulars 2018-19 2017-18

Opening Balance 1 647.57 295.61
Additions during the year since 1st April, 317.49 1 420.89
Reductions during the above period 47.03 68.93
Closing Balance 1 918.03 1 647.57
Total Provisions held* 1 509.73 1 245.99
*of which Rs.1100.20 crore held towards MTM of Equity Shares classified as NPI as on 31st March 2019 against Rs.1034.66 crore
as on 31st March 2018

145
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146
11.5 Sale and Transfers to/from HTM Category
Sale and transfer to/from HTM category (above the prescribed limit of 5%) during the current year: NIL (previous year NIL)
12. DERIVATIVES
12.1 Forward Rate Agreement / Interest Rate Swap
(Rs. in Crore)

Particulars 2018-19 2017-18

Rupee FX Exposure Total Rupee FX Exposure Total
Exposure Exposure
i) The notional principal of -- 65.35 65.35 -- 119.27 119.27
swap agreements
ii) Losses which would be -- 0.43 0.43 -- 1.35 1.35
incurred if counter-parties
failed to fulfill their obligations
under the agreements
iii) Collateral required by -- -- -- -- -- --
the Bank upon entering into
swaps
iv) of credit risk arising from -- -- -- -- -- --
the swaps
v) The fair value of the swap -- 0.43 0.43 -- 1.35 1.35
book
12.2 Exchange Traded Interest Rate Derivatives
(Rs. in Crore)

S. Particulars 2018-19 2017-18

No.
(i) Notional principal amount of exchange traded interest rate derivatives undertaken -- --
during the year
(ii) Notional principal amount of exchange traded interest rate derivatives outstanding as -- --
on 31st March
(iii) Notional principal amount of exchange traded interest rate derivatives outstanding and -- --
not “highly effective”
(iv) Mark-to-market value of exchange traded interest rate derivatives outstanding and not -- --
“highly effective”

12.3 DISCLOSURES ON RISK EXPOSURE IN DERIVATIVES
12.3.1 Qualitative Disclosure
Treasury (Foreign)
The Bank uses Interest Rate Swaps (IRS), Currency Swaps and
Options for hedging purpose to mitigate interest rate risk and
currency risk in banking book. Such transactions are entered
only with Clients and Banks having agreements in place.
a) The Risk Management Policy of the Bank allows using of
derivative products to hedge the risk in Interest/Exchange
rates that arise on account of overseas borrowing/
FCNR(B) portfolio/the asset liability mis-match, for funding
overseas branches etc.
b) The Bank has a system of evaluating the derivatives
exposure separately and placing appropriate credit lines
for execution of derivative transactions duly reckoning the
Net Worth and security backing of individual clients.
c) The Bank has set in place appropriate control systems to
assess the risks associated in using derivatives as hedge
instruments and proper risk reporting systems are in place
to monitor all aspects relating to derivative transactions.
The Derivative transactions were undertaken only with
the Banks and counterparties well within their respective
exposure limit approved by appropriate credit sanctioning
authorities for each counter party.
d) The Bank has set necessary limits in place for using
derivatives and its position is continuously monitored.
e) The Bank has a system of continuous monitoring appraisal
of resultant exposures across the administrative hierarchy
for initiation of necessary follow up actions.
f) Derivatives are used by the Bank to hedge the Bank’s
Balance sheet.
g) The income from such derivatives are amortized and
taken to profit and loss account on accrual basis over the
life of the contract. In case of early termination of swaps

147
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148
 undertaken for Balance Sheet Management, income on
account of such gains would be recognized over the
remaining contractual life of the swap or life of the assets/
liabilities whichever is lower.
h) All the hedge transactions are accounted on accrual
basis. Valuations of the outstanding contracts are done
on Mark to Market basis. The Bank has duly approved
Risk Management and Accounting procedures for dealing
in Derivatives.
i) The derivative transactions are conducted in accordance
with the extant guidelines of Reserve Bank of India.
Risk Management policies pertaining to derivatives with
particular reference to the extent to which derivatives are used,
the associated risks and business purposes served. Also to
include
a) The structure and organization for management of risk in
derivatives trading;
b) The scope and nature of risk measurement, risk reporting
and risk monitoring systems;
c) Policies for hedging and/or mitigating risk and strategies
and processes for monitoring the continuing effectiveness
of hedges/mitigants; and
d) Accounting policy for recording hedge and non-
hedge transactions; recognition of income, premiums
and discounts; valuation of outstanding contracts;
provisioning, collateral and credit risk mitigation.
Treasury (Domestic)
The Bank uses Rupee Interest Rate Swaps (IRS) for hedging
purpose to mitigate interest rate risk in Govt. Securities and to
reduce the cost of Subordinated Debt. In addition, the bank also
enters into rupee interest rate swaps for trading purposes as per
the policy duly approved by the Board. Swap transactions are
entered only with Banks having ISDA agreements in place.
a) The bank has put in place an appropriate structure and
organization for management of risk, which includes
Treasury Department, Asset Liability Management
Committee and Risk Management Committee of the Board.
b) Derivative transactions carry Market Risk (arising from
adverse movement in interest rates), Credit risk (arising
from probable counter party failure), Liquidity risk (arising
from failure to meet funding requirements or execute
the transaction at a reasonable price), Operational risk,
Regulatory risk and Reputation risk. The Bank has laid
down policies, set in place appropriate control systems
to assess the risks associated in using derivatives and
proper risk reporting and mitigation systems are in place
to monitor all risks relating to derivative transactions.
The IRS transactions were undertaken with only Banks
as counter party and well within the exposure limit
approved by the Board of Bank for each counter party.
c) Derivatives are used by the bank for trading and hedging.
The bank has an approved policy in force for derivatives
and has set necessary limits for the use of derivatives and
the position is continuously monitored. The value and
maturity of the hedges which are used only as back to
back or to hedge bank’s Balance Sheet has not exceeded
that of the underlying exposure.
d) The accounting policy for derivatives has been drawn
up in accordance with RBI guidelines, as disclosed in
Schedule 17 – Significant Accounting Policies (Policy
No.6)

12.3.2 Quantitative Disclosures

(Rs. in Crore)

Sr. Particulars 2018-19 2017-18

No.
CURRENCY INTEREST CURRENCY INTEREST
DERIVATIVES RATE DERIVATIVES RATE
DERIVATIVES DERIVATIVES
(i) Derivatives (Notional Principal Amount)
a) For Hedging 1 670.41 0 1 614.89 0
b) For Trading 0 65.35 0 119.28
(ii) Mark to Market Positions
a) Asset (+) 27.97 (+)0.43 4.96 (+)1.35
b) Liability (-) 90.33 (-)0.415 26.45 (-)1.31
(iii) Credit Exposure* 195.01 0.65 166.45 1.19
(iv) Likely impact of one percentage change in interest
rate (100*PV01)
a) On hedging derivatives 27.85 0 40.01 0
b) on trading derivatives 0 0.34 0 1.08
v) Maximum and Minimum of 100*PV01 observed during the year
a) on hedging
Maximum 42.97 0 42.97 32.62
Minimum 27.85 0 0 0
b) on trading
Maximum 0 1.17 0.07 2.38
Minimum 0 0.34 0 1.08
*Banks may adopt the Current Exposure Method on Measurement of Credit Exposure of Derivative Products as per extant RBI
instructions.

149
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150
13. ASSET QUALITY
13.1.1 Non-Performing Assets (NPAs) (As certified by Management)
(Rs. in Crore)

Particulars 2018-19 2017-18

i) Net NPAs to Net Advances (%) 10.81 15.33
ii) Movement of NPAs (Gross)
a) Opening Balance 38 180.15 35 098.26
b) Additions during the year 8 844.54 16 824.79
c) Reductions during the year 13 626.57 13 742.90
d) Closing Balance 33 398.12 38 180.15
iii) Movement of Net NPAs
a) Opening Balance 20 399.66 19 749.32
b) Additions during the year 7 048.31 4 889.81
c) Reductions during the year
(including Technical Write-off and Other Reductions) 13 079.67 4 239.46
d) Closing Balance 14 368.30 20 399.66
iv) Movement of Provisions for NPAs
(excluding provisions on standard assets)
a) Opening balance 17 333.78 14 149.97
b) Provisions made during the year 9 881.25 11 934.98
c) Write-off/Write-back of excess provisions 8 567.80 8 751.17
d) Closing balance 18 647.23 17 333.78

13.1.2 Divergence in the Asset Classification and Provisioning for NPAs (vide RBI Circular No.DBR.DP.BC.
No.63/21.04.018/2016-17 dated 18.04.2017)
(Rs. In Crore)

S. Particulars 31.03.2018 31.03.2017

No
1 Gross NPAs as on March, 31,2018 as reported by the Bank 38 180.15 35 098.25
2 Gross NPAs as on March, 31,2018, as assessed by RBI 38 517.75 37 577.65
3 Divergence in Gross NPA (2-1) 337.60 2 479.40
4 Net NPAs as on March, 31,2018 as reported by the Bank 20 399.66 19 749.33
5 Net NPAs as on March, 31,2018 as assessed by RBI 20 737.26 22 228.73
6 Divergence in Net NPAs (5-4) 337.60 2 479.40
7 Provision for NPAs as on March, 31,2018 as reported by the Bank 17 333.78 14 149.97
8 Provision for NPAs as on March, 31,2018 as assessed by RBI 19 112.68 14 558.87
9 Divergence in provisioning (8-7) 1 778.90 408.90
10 Reported Net Profit after Tax (PAT) for the year ended March,31,2018 (6 299.49) (3 416.74)
11 Adjusted (notional) Net Profit after Tax (PAT) for the year ended March,31,2018 after (8 406.60) (3 858.84)
taking into account the divergence in provisioning
13.1.3 Provision Coverage Ratio
The Provision Coverage Ratio (PCR) computed as per the RBI guidelines stood at 71.39% as on 31.03.2019 (59.45% as on
31.03.2018).

151
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 13.2 Particulars of Accounts Restructured (As certified by Management)
3

1
Sl No.

to 31.03.2018
during 01.04.2017
standard category
of restructured
Upgradation

existing accounts
in exposure for
including increase
to 31.03.2018
during 1.4.17
Fresh Restructuring

April 1, 2017
Accounts as on
Restructured

Details
Asset Classification

Type of Restructuring
Thereon
Provision

Outstanding
Amount
Borrowers
No. of

Thereon
Provision

Outstanding
Amount

Borrowers
No. of

Thereon
Provision

Outstanding
Amount

Borrowers
No. of
0.00 0.00 0 0.00 0.00 0 1.68 72.16 3 Standard

Under CDR Mechanism

0.00 0.00 0 0.00 0.00 0 7.66 364.50 4 Sub-standard

0.00 0.00 0 -12.17 206.67 0 27.42 4217.71 25 Doubtful

0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 Loss

0.00 0.00 0 -12.17 206.67 0 36.76 4654.37 32 Total

0.00 0.00 0 19.63 373.88 8403 0.00 11.69 1 Standard

Under SME Debt Restructuring

0.00 0.27 1 4.61 30.72 53 0.03 41.28 2 Sub-standard

Mechanism
0.00 -0.27 -1 -0.16 0.25 0 0.31 336.37 58 Doubtful

0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 Loss

0 0 0 0.00 0.00 0 0.34 389.34 61 Total

2.35 64.15 1 -0.44 6.72 0 22.51 1824.74 29 Standard

0.00 0.00 0 0.00 99.22 0 5.96 4073.92 15 Sub-standard

Others
-2.34 -64.15 -1 -1.54 5.63 0 16.21 4659.46 107 Doubtful

0 0 0 0.00 0.00 0 0.00 0.46 1 Loss

0.00 0.00 0 0.00 0.00 0 44.68 10558.58 152 Total

2.35 64.15 1 19.19 380.60 8403 24.19 1908.59 33 Standard

0.00 0.27 1 4.61 129.94 53 13.65 4479.70 21 Sub-standard

-2.34 -64.42 -2 -13.87 212.55 0 43.94 9213.54 190 Doubtful

Total
(Rs. in Crore)

0.00 0.00 0 0.00 0.00 0 0.00 0.46 1 Loss

0.01 0.00 0 9.93 723.09 0 81.78 15602.29 245 Total

153
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 7

4
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Figures)
2018 (closing
March 31 of the
Accounts as on
Restructured

31.03.2018
1.04.2017 to
accounts during
in restructured
action initiated
CDR/ recovery
closure/ exit from
Write off/ sale/

31.03.2018
01.04.17 to
accounts during
the restructured
Downgradation of
of the next FY
the beginning
at
standard advances
as restructured
need not be shows
of FY and hence
weight at the end
or additional risk
provisioning and /
attract higher
which cease to
standard advances
Restructured

Details
Asset Classification

Type of Restructuring
Thereon
Provision

Outstanding
Amount

Borrowers
No. of
Thereon
Provision

Outstanding
Amount

Borrowers
No. of
Thereon
Provision

Outstanding
Amount
Borrowers
No. of

Thereon
Provision

Outstanding
Amount

Borrowers
No. of
0.00 0.00 0 -0.01 -32.51 -1 -0.02 -13.49 -1 -1.65 -26.16 -1 Standard

Under CDR Mechanism

0.02 13.49 1 -2.14 -17.78 0 -5.50 -333.23 -3 Sub-standard

13.75 4121.98 26 -7.02 -649.12 -3 5.52 346.72 4 Doubtful

0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 Loss

13.77 4135.47 27 0.00 0.00 0.00 0.00 0.00 0.00 -1.65 -26.16 -1 Total

19.63 384.00 8404 0.00 -1.57 0 0.00 0.00 0 0.00 0.00 0 Standard

Under SME Debt Restructuring

4.61 31.00 54 0.00 -0.05 0 -0.03 -41.22 -2 Sub-standard

Mechanism
0.17 349.62 49 -0.01 -27.95 -10 0.03 41.22 2 Doubtful

0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 Loss

24.41 764.62 8507 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 0 Total

11.02 447.11 6 -0.49 -368.65 -2 0.00 -422.70 -8 -12.91 -657.15 -14 Standard

0.19 1030.62 10 -0.94 -240.74 -1 -4.83 -2901.78 -4 Sub-standard

Others
16.54 7336.53 103 -0.62 -588.89 -15 4.83 3324.48 12 Doubtful

0.00 0.38 1 0.00 -0.08 0 0.00 0.00 0 Loss

27.75 8814.64 120 0.00 0.00 0.00 0.00 0.00 0 -12.91 -657.15 -14 Total

3.65 831.11 8410 0.00 0 0 -0.02 -436.19 -9 -14.56 -683.31 -15.00 Standard

4.82 1075.11 65 -3.00 -259 -1 -10.36 -3276.23 -9 0.00 0.00 0.00 Sub-standard

30.46 11808.13 178 -8.00 -1266 -28 10.38 3712.42 18 0.00 0.00 0.00 Doubtful
Total

0.00 0.38 1 0.00 0 0 0.00 0.00 0 0.00 0.00 0.00 Loss

65.93 13714.73 8654 -10.73 -1524.61 -29 0.00 0.00 0 -14.56 -683.31 -15.00 Total

155
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13.3 Details of Financial Assets sold to Securitisation / Reconstruction Company for Asset reconstruction
A. Details of Sales
(Rs. in Crore)
S. Particulars 2018-19 2017-18
NO.
(i) No. of accounts 11 13
(ii) Aggregate value (net of provisions) of accounts sold to SC/RC 495.48 2 113.05
(iii) Aggregate consideration 851.23 2 364.98
(iv) Additional consideration realized in respect of accounts transferred in earlier years 12.99 5.92
(v) Aggregate gain/(loss) over net book value 355.75 251.91
B. Details of book Value of Investment in Security Receipt
(Rs. in Crore)
Particulars 2018-19 2017-18
i) Backed by NPAs sold by the Bank as underlying 840.27 1 355.01
ii) Backed by NPAs sold by other banks/financial institutions /non-banking financial -- --
companies as underlying
Total 840.27 1 355.01
C. Additional Disclosure on book Value of Investment in Security Receipt
(Rs. In Crore)

S. Particulars SRs issued within SRs issued more than SRs issued more than
NO. past 5 years 5 years ago but within 8 years ago
past 8 years
(i) Book Value of SRs backed by NPAs sold by 2 908.88 107.97 1.58
the bank as underlying
Provision held against (i) 481.08 44.35 1.58
(ii) Book Value of SRs backed by NPAs sold
by other banks/financial institutions/non- 0.00 0.00 0.00
banking financial companies as underlying
Provision held against (ii) 0.00 0.00 0.00
Total (i)+ (ii) 2 908.88 107.97 1.58
13.4 Details of non-performing financial assets purchased/sold from other banks
13.4.1Details of non-performing financial assets purchased:
(Rs. in Crore)

Particulars 2018-19 2017-18

1 (a) No. of accounts purchased during the year -- --
(b) Aggregate outstanding -- --
2 (a) Of these, number of accounts restructured during the year -- --
(b) Aggregate outstanding -- --
13.4.2 Details of non-performing financial assets sold:
(Rs. in Crore)
Particulars 2018-19 2017-18
1. No. of accounts sold -- --
2. Aggregate Outstanding -- --
3. Aggregate consideration received -- --
13.5 Provisions on Standard Assets
(Rs. in Crore)
Particulars 2018-19 2017-18
Provisions towards Standard Assets 554.47 629.49

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158
14 BUSINESS RATIOS

S. Particulars 2018-19 2017-18

No.
(i) Interest Income as a percentage to Working Funds 7.04% 7.26%
(ii) Non-Interest Income as a percentage to Working Funds 1.68% 1.52%
(iii) Operating Profit as a percentage to Working Funds 2.00% 1.47%
(iv) Return on Assets -1.35% -2.33%
(v) Business (Deposits plus advances) per Employee (Rs. in Crore) 14.21 13.10
(vi) Profit per employee (Rs. in Crore) -0.1418 -0.2243
15 ASSET LIABILITY MANAGEMENT:
Maturity pattern of certain items of assets and liabilities as at March 31, 2019*
(Rs. in Crore)
Particulars Deposits Advances Investments Borrowings Foreign Foreign
(Gross) (Gross) Currency Currency
Assets Liabilities
Day 1 2 201.91 2 516.38 4 859.36 0.51 3 386.23 1 022.49
2 to 7 days 5 773.99 3 362.01 2 300.80 6.27 1 146.81 660.25
8 to 14 days 5 533.43 5 219.13 1 273.15 0 405.25 396.96
15 Days – 30 Days 5 214.26 4 310.35 1 264.56 0 1 998.57 2 183.21
31 Days – 2 Months 9 851.40 12 221.29 2 554.86 0 2 494.55 2 271.24
2 Months – 3 Months 8 115.85 14 416.58 3 037.08 0 1 317.83 999.07
3 Months – 6 Months 22 215.09 16 165.08 5 816.05 1 178.64 3 043.45 3 783.57
Over 6 Months & Upto 1 year Months 44 884.48 23 000.91 10 767.65 441.99 1 144.18 2 858.36
Over 1 year & up to 3 years 32 558.94 63 424.73 9 997.98 1 473.30 2 421.43 1 979.64
Over 3 years & up to 5 years 7 025.77 12 662.19 3 148.80 0 649.18 866.59
Over 5 years 79 158.96 22 011.79 21 911.99 3 045.32 1 350.30 2 336.40
Total 222 534.08 179 310.44 66 932.28 6 146.03 19 357.78 19357.78
Maturity pattern of certain items of assets and liabilities as at March 31, 2018*
(Rs. in Crore)
Particulars Deposits Advances Investments Borrowings Foreign Foreign
(Gross) (Gross) Currency Currency
Assets Liabilities
Day 1 2 227.87 2 072.80 9 560.69 3.75 3 506.88 1 450.52
2 to 7 days 5 117.39 3 430.45 2 201.77 0 1 334.75 981.22
8 to 14 days 6 189.96 3 167.48 1 416.91 0 702.38 1 146.92
15 Days – 30 Days 4 998.45 5 298.72 961.39 313.17 3 692.44 3 448.49
31 Days – 2 Months 8 294.17 13 181.02 1 877.43 130.74 4 784.67 2 804.05
2 Months – 3 Months 8 050.60 15 934.30 1 773.32 309.41 2 167.38 2 713.51
3 Months – 6 Months 22 613.86 17 788.94 5 906.86 3 604.01 4 677.36 6 072.60
Over 6 Months & Upto 1 year Months 51 397.89 32 701.56 11 866.91 0 1 668.31 3 120.04
Over 1 year & up to 3 years 24 835.14 32 072.77 9 712.92 3 100.00 1 990.63 1 616.65
Over 3 years & up to 5 years 7 064.66 9 961.80 3 045.21 0 2 563.19 3 059.53
Over 5 years 76 036.68 14 372.87 21 939.72 1 767.00 1 972.99 2 647.45
Total 216 826.67 149 982.71 70 263.13 9 228.08 29 060.98 29 060.98

*As compiled and certified by the management

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160
16 Exposures
16.1 Exposure to Real Estate Sector
(Rs. in Crore)
Category 2018-19 2017-18
(a) Direct Exposure
i) Residential Mortgages-
Lending fully secured by mortgages on residential property that is or will be occupied by the
borrower or that is rented; 17 729.62 16 298.78
Out of which individual housing loans eligible to be classified under Priority Sector 10 165.23 7 369.56
ii) Commercial Real Estate-
Lending secured by mortgages on commercial real estates (office buildings, retail space,
multi-purpose commercial premises, multi-family residential buildings, multi-tenated
commercial premises, industrial or warehouse space, hotels, land acquisition, development
and construction etc.) Exposure would also include non-fund based(NBF) limits; 4 524.49 5 983.04
iii) Real estate other (Hotel, Hospital & liquirent not under CRE ) 2 148.37 1 838.20
iv) Investments in mortgage backed securities (MBS) and other securitized exposures-
a. Residential
b. Commercial Real Estate
c. other investment CIG Reality 0 0
(b) Indirect Exposure
Fund based and non-fund based exposures on National
housing Bank(NHB) and Housing Finance companies(HFCs) 3 588.20 1 697.00
TOTAL EXPOSURE TO REAL ESTATE SECTOR 27 990.68 25 817.02

16.2 Exposure to Capital Market

(Rs. in Crore)
Particulars 2018-19 2017-18
i) Direct investment in equity shares, convertible bonds, convertible debentures and units of
equity- oriented mutual funds the corpus of which is not exclusively invested in corporate debt; 427.61 472.30
ii) advances against shares/bonds/debentures or other securities or on clean basis to
individuals for investment in shares (including IPOs/ESOPs), convertible bonds, convertible
debentures and units of equity-oriented mutual funds; 0.27 0.68
iii) advances for any other purposes where shares or convertible bonds or convertible
debentures or units of equity oriented mutual funds are taken as primary security; 1.78 1.98
iv) advances for any other purposes to the extent secured by the collateral security of shares
or convertible bonds or convertible debentures or units of equity oriented mutual funds ie.
Where the primary security other than shares/convertible bonds/ convertible debentures/
units of equity oriented mutual funds does not fully cover the advances; 732.79 653.41
v) Secured and unsecured advances to stock brokers and guarantees issued on behalf of
stock brokers and market makers; 0.85 0.60
vi) loans sanctioned to corporates against the security of shares/bonds/debentures or
other securities or on clean basis for meeting promoters contribution to the equity of new
companies in anticipation of raising resources; 0.00 0.00
vii) bridge loans to companies against expected equity flows/issues; 0.00 0.00
viii) underwriting commitments taken up by the banks in respect of primary issue of shares or
convertible bonds or convertible debentures or units of equity oriented mutual funds; 0.00 0.00
ix) financing to stock brokers for margin trading; 0.00 0.00
x) all exposures to venture Capital Funds (both registered and unregistered and commitment
charges)* 131.83 142.10
TOTAL EXPOSURE TO CAPITAL MARKET 1 295.13 1 271.07

161
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162
16.3 Risk Category-wise Country Exposure:
(Rs. in Crore)
Risk Category* Exposure (net) as at Provision held as at Exposure (net) as at Provision held as at
31.03.2019 31.03.2019 31.03.2018 31.03.2018
Insignificant 9 966.76 -- 12 454.40 8.18
Low 4 982.52 -- 5 447.40 --
Moderately Low 64.99 -- 77.65 --
Moderate 293.16 -- 824.41 --
Moderately High 10.03 -- 10.56 --
High -- -- -- --
Very High -- -- -- --
Total 15 317.46 -- 18 814.42 8.18
*Based on seven category classification followed by Export Credit Guarantee Corporation of India Ltd. (ECGC)
16.4 Details of Single Borrower Limit (SBL), Group Borrower Limit (GBL) exceeded by the Bank:
The bank had taken single/group borrower exposure in excess of prudential limit prescribed by RBI in the cases given below:
2018-19
(Rs. In Crore)
SL Name of the borrower Exposure Limit Period during Board ratification Position as
No Ceiling sanctioned which limit details on 31.03.2019
exceeded outstanding
1 Twin Star Holdings Ltd. 276.62 414.93 01.04.2018 to Ratified by Board 207.47
18.03.2019 on 05.12.2014
2 TCI Sanmar Chemicals S.A.E. 276.62 764.16 01.04.2018 to Ratified by Board 257.05
04.02.2019 on 29.05.2018
3 Swetharanya Holdings Pvt. Ltd. 276.62 318.11 01.04.2018 to Ratified by Board 253.63
28.09.2018 on 29.01.2018
4 JBF Petrochemicals Limited 276.62 385.68 01.04.2018 to Ratified by Board --
15.11.2018 on 16.04.2013
2017-18
(Rs. In Crore)
SL Name of the borrower Exposure Limit Period during Board ratification Position as
No Ceiling sanctioned which limit details on 31.03.2018
exceeded outstanding
1 Twin Star Holdings Ltd. 260.70 391.05 12 months 29.04.2017 312.85
16.5 Unsecured Advances
(Rs. In Crore)
Particulars 2018-19 2017-18
Total amount for which intangible securities such as charge over the rights, licenses authority, 4 592.21 7 623.85
etc., has been taken
Estimated value of such intangible collateral 4 592.21 7 623.85
17 Disclosure of Penalties imposed
(Rs. In Crore)
Particulars 2018-19 2017-18
Penalties imposed by RBI 4.50 2.00
Penalties imposed by SEBI / stock exchanges 0.0020 0.02
DISCLOSURES IN TERMS OF ACCOUNTING STANDARDS
18.1 Accounting Standard 5 – Net Profit or Loss for the period, prior period items and changes in accounting policies
The financial statements have been prepared following the same accounting policies and practices as those followed for the
year ended March 31, 2018, except for the treatment of depreciation on revalued portion of Fixed Assets in accordance with
Accounting Standard 10 (revised 2016) on Property, Plant and Equipment as below:
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reserve instead of crediting to the Profit and Loss account.

163
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164
18.2 Accounting Standard 9 – Revenue Recognition
Revenue has been recognized as described in item No. 2 of Significant Accounting Policies – Schedule 17.
18.3 Accounting Standard 15 – Employee Benefits
i. The Bank had adopted Accounting Standard 15 (Revised) “Employees Benefits” issued by the Institute of Chartered Accountants
of India, with effect from 1st April, 2007.
ii. The summarized position of Post-employment benefits and long term employee benefits recognized in the Profit & Loss Account
and Balance Sheet as required in accordance with Accounting Standard – 15 (Revised) are as under: -
(a) Defined Benefit Schemes:
Changes in the present value of the obligations
(Rs. In Crore)
Particulars PENSION GRATUITY LEAVE
(Funded) (Funded) ENCASHMENT
(Un Funded)
2019 2018 2019 2018 2019 2018
Present Value of obligation as at the beginning of the year 8 258.94 7 562.52 1 472.41 1 313.48 464.20 469.79
Interest Cost 609.74 566.60 105.40 90.01 32.63 32.69
Current Service Cost 163.02 168.65 65.59 60.24 34.35 31.51
Benefits Paid (742.00) (634.04) (217.89) (164.17) (87.41) (93.68)
Actuarial loss/(gain) on Obligations 336.01 595.21 (52.77) 172.84 29.71 23.89
Present Value of Obligation at year end 8 625.72 8 258.95 1 372.74 1 472.41 473.49 464.20
(b) Change in Fair Value of Plan Asset
(Rs. In Crore)
Particulars PENSION GRATUITY LEAVE
(Funded) (Funded) ENCASHMENT
(Un Funded)
2019 2018 2019 2018 2019 2018
Fair Value of Plan Assets at the beginning of the year 8 253.78 7 589.84 1 472.41 1 308.94 -- --
Expected return on Plan Assets 689.94 610.23 120.80 109.56 -- --
Employer’s contribution 467.65 684.66 115.06 204.58 87.41 93.68
Benefit Paid (742.00) (634.04) (217.89) (164.17) 87.41 93.68
Actuarial gain/(loss) on Obligations (44.11) 3.09 (2.59) 13.50 -- --
Fair Value of Plan Asset at the end of the year 8 625.26 8 253.78 1 487.79 1 472.41 -- --
Unfunded Transitional Liability -- -- -- -- -- --

(c) Amount recognized in Balance Sheet

(Rs. In Crore)
Particulars PENSION GRATUITY LEAVE
(Funded) (Funded) ENCASHMENT
(Un Funded)

2019 2018 2019 2018 2019 2018

Estimated Present value of obligations as at the end of 8 625.72 8 258.95 1 372.74 1 472.41 473.49 464.20
the year

Actual Fair value of Plan Assets as at the end of the year 8 625.26 8 253.78 1 487.79 1 472.41 -- --

Unfunded Net Liability recognized in Balance Sheet 0.46 5.17 -- -- 473.49 464.20

Funded Net Assets to be recognized in Balance Sheet -- -- 115.05 -- -- --

165
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166
(d) Expenses Recognized in Profit & Loss
(Rs. In Crore)
Particulars PENSION GRATUITY LEAVE
(Funded) (Funded) ENCASHMENT
(Un Funded)
2019 2018 2019 2018 2019 2018
Current Service Cost 163.02 168.65 65.59 60.24 34.35 31.51
Interest Cost 609.74 566.60 105.40 90.01 32.63 32.69
Expected return on Plan Asset (689.94) (610.23) (120.80) (109.56) -- --
Net Actuarial (Gain)/Loss recognized in the year 380.13 592.12 50.18 (159.34) 29.71 23.89
Total expenses chargeable in Profit & Loss Account 462.95 717.15 -- 200.04 96.69 88.10
Amount received from
II Pension optees/ employer’s contribution of PF N.A. N.A. N.A. N.A. N.A. N.A.
(e) Investment percentage maintained by Pension & Gratuity Trust:
(Figures in %)
Particulars Pension Trust Gratuity Trust
2019 2018 2019 2018
a) Debt Instruments
Central Government Securities 9.65 12.93 3.74 2.73
State Government Securities 23.62 13.43 70.74 69.03
Investment in PSU /PFI / Corporate Bonds 65.69 73.12 24.10 26.90
Other Investments 0.02 0.07 -- --
b) Equity Instruments 0.84 0.45 1.42 1.34
(f) Principal actuarial assumptions at the Balance Sheet Date (expressed as weighted average)
(Figures in %)
Particulars PENSION GRATUITY LEAVE
(Funded) (Funded) ENCASHMENT
(Un Funded)
2019 2018 2019 2018 2019 2018
Discount Rate 7.54 7.73 7.76 7.73 7.76 7.73
Expected rate of return on Plan Assets 8.00 8.00 8.50 8.00 -- --
Expected Rate of Salary increase 5.00 5.00 5.00 5.00 5.00 5.00
Method used Projected unit credit Projected unit credit Projected unit credit
(g) Experience Adjustments
(Rs. In Crore)
Particulars PENSION (Funded) GRATUITY (Funded) LEAVE ENCASHMENT
(Unfunded)
44.11 2019

(3.09) 2018

(139.69) 2017

85.42 2016

3.73 2015

2.59 2019

(13.50) 2018

(65.79) 2017

10.14 2016

23.13 2015

-- 2019

-- 2018

-- 2017

-- 2016

-- 2015
Experience adjustment on
Plan assets (Loss)/Gain
(336.01)

(595.21)

(657.80)

(907.77)

(567.28)

52.77

(172.84)

(202.74)

(130.80)

30.57

29.71

23.89

67.62

53.44

35.78

Experience adjustment on
Plan Liabilities (Loss)/Gain

The estimates of future salary increases, considered in actuarial valuation, take into account actual return on plan assets, inflation,
seniority, promotion and other relevant factors, such as supply and demand in employee market.
In respect of overseas branches, disclosures if any required for Employee Benefit Schemes are not made in the absence of
information.
(h) The financial assumptions considered for the calculations are as under:-
Discount Rate: The discount rate has been chosen by reference to market yield on government bonds as on the date of valuation
(Balance sheet dated 31.03.2019).
Expected Rate of Return: The Overall expected rate of return on assets is determined based on the market prices prevailing on that
date applicable to the period over which the obligation is to be settled. There has been significant change in expected rate of return
on assets due to the improved stock market scenario.
Bank’s best estimate expected to be paid in next Financial Year for Gratuity is Rs. 225 Crore.

167
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168
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18.4 Accounting Standard 17 – Segment Reporting
The Bank has adopted Reserve Bank of India’s revised guidelines issued in April 2007 on Segment Reporting in terms of which the reportable segments have been
divided into Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations.
Part A: Business Segments
(Rs. In Crore)
Business Segments Treasury Corporate / Wholesale Retail Banking Other Banking TOTAL
Banking Operations
Particulars 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18
Revenue 6 527.71 6 093.26 7 019.45 8 159.26 7 417.75 6 367.63 404.27 366.03 21 369.18 20 986.18
Result 1 455.35 1 314.11 135.11 52.14 2 650.51 1 284.11 335.78 303.52 4 576.75 2 953.88
Unallocated Income 468.42 675.47
Unallocated Expenses 11.33 0.27
Operating Profit/Loss 5 033.87 3 629.08
Income Taxes (2 222.67) (2 332.21)
Provisions & Contingencies 10 994.42 12 260.78
Extraordinary profit / loss 0.00 0.00
Net Profit (3 737.88) (62 99.49)

169
OTHER INFORMATION
Segment Assets 77 513.07 79 628.80 87 936.05 90 761.16 74 799.78 71 016.76 159.78 149.53 240 408.68 241 556.25
Unallocated Assets 9 599.69 6 411.78
Total assets 250 008.37 247 968.03
Segment Liabilities 75 300.39 77 197.58 85 308.73 88 301.20 72 628.01 69 099.33 355.19 75.57 233 592.32 234 673.68
Unallocated Liabilities 56.16 20.38
Total Liabilities 233 648.48 234 694.06
Part B – Geographic segments
(Rs. In Crore)
Particulars Domestic International Total
2018-19 2017-18 2018-19 2017-18 2018-19 2017-18
Revenue 21 266.56 20 960.23 571.02 701.42 21 837.58 21 661.65
Assets 238 395.18 230 414.98 11 613.18 17 553.05 250 008.36 247 968.03
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170
 The details of the Directors of IIBM

18.5 Accounting Standard 18 – Related Party Disclosures (as compiled & certified by Management)
4.
3.
2.
1.
No.
S.

Interest received
Interest paid
Purchase of fixed assets
year
Transactions during the

Advances

Investment

Deposits

Borrowings

Items / Related Party

Mr. Santhanam VangalJagannathan
Mr. Goh Ching Chee
Datuk Bhupatrai a/I MaksukhlalPremji
Mr. Palamadai Sundarajan Jayakumar

Name

-- -- 78.17 1935.0000 Balance as on 31.03.2019

Associates */Joint Ventures**

106.4100

2018-19

2018-19
54.7700

--

Maximum Balance during the

-- -- 145.2500 2698.6200
period 1.04.2018 – 31.03.2019

1150.0000 -- 149.0260 2210.9900 Balance as on 31.03.2018

115.1131

2017-18

2017-18
30.9500

--

Maximum Balance during the

1250.0000 -- 937.0340 2621.9965
period 1.04.2017 – 31.03.2018

-- 0.1029 0.2239 -- Balance as on 31.03.2019

Independent Non-Executive Director
Independent Non-Executive Director
Independent Non-Executive Director
Non Independent Non-Executive Director (resigned on 15th June 2018)

Designation

2018-19

2018-19

Key Management Personnel

0.0182
0.0240
--

Maximum Balance during the

-- -- 0.3811 --
period 1.04.2018 – 31.03.2019

-- 0.1274 0.3673 -- Balance as on 31.03.2018

2017-18

2017-18
0.0022
--
--

Maximum Balance during the

-- -- 0.5475 --
period 1.4.2017 – 31.03.2018

-- -- 0.2241 -- Balance as on 31.03.2019

Relatives of Key Management

2018-19

2018-19
0.0116
--
--

Maximum Balance during the

-- -- 0.2249 -- Personnel
period 1.04.2018 – 31.03.2019

-- -- 0.2149 -- Balance as on 31.03.2018

2017-18

2017-18
0.0043
--
--

Maximum Balance during the

-- -- 0.2149 --
period 1.04.2017 – 31.03.2018

-- 0.1029 78.6180 1935.0000 Balance as on 31.03.2019

106.4340

2018-19

2018-19
54.7999

--

Maximum Balance during the

-- -- 145.8550 2698.6200
period 1.04.2018 – 31.03.2019
Total

1150.0000 0.1274 149.6100 2210.9900 Balance as on 31.03.2018

115.1131

2017-18

2017-18

(Rs. In Crore)
30.9565

--

Maximum Balance during the

1205.0000 937.7964 2621.9965
period 1.04.2017 – 31.03.2018
--

171
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172
Details of Salary and Performance Incentive paid to Whole Time Directors during the year 2017-18 and 2018-19:
Sl. Name Designation Remuneration* Remuneration*
No. Amount (Rs.) (2018-19) Amount (Rs.) (2017-18)
1. Shri R. Koteeswaran Ex-Managing Director & Chief -- 2,59,153.50
Executive Officer
2. Shri Atul Agarwal Ex-Executive Director -- 3,40,618.50
3. Shri R SubramaniaKumar Managing Director & Chief 30,74,904.00 28,73,464.63
Executive Officer
4. Shri K Swaminathan Executive Director 25,83,453.00 24,94,442.43
5. Shri Ajay Kumar Srivastava Executive Director 25,81,467.00 11,67,450.32**
*Remuneration Includes salary & allowances, salary arrears, performance incentives, leave encashment arrears and gratuity
arrears.
**Part of the year
18.6 Accounting Standard 20 – Earnings per Share

Particulars 2018-19 2017-18

Net Profit after Tax available for Equity Shareholders (Rs. in Crore) (3 737.88) (6 299.49)
Weighted Average Number of Equity Shares 5,474,928,289 270,92,23,826
Basic & Diluted Earnings Per Share Rs.(6.83) Rs.(23.25)
Nominal value per Equity Share Rs.10.00 Rs.10.00
18.7 Accounting Standard 21 - Consolidated Financial Statements and Accounting Standard 23 - Accounting for Investments
in Associates in Consolidated Financial Statements
As there is no subsidiary, no consolidated financial statement is considered necessary.
18.8 Accounting Standard 22: Accounting for Taxes on Income
(Rs. in Crore)
Particulars 31.03.2019 31.03.2018
DTA DTL DTA DTL
Depreciation on Investments 0.00 52.54
Depreciation on Fixed Assets 85.03 14.11
Provision for Employee Benefits 165.44 160.65
Provision for Frauds 44.73 38.21
Provision for Other Assets 27.94 27.97
Provision for Restructured Advances 51.93 80.10
Reserve for Severance Pay 1.23 2.66
Special Reserve
Provision for NPA 5 439.10 3 501.16
Foreign Currency Translation Reserve 375.12 337.68
Others 264.24 136.25
Total 6 454.76 0.00 4 284.68 66.65
Net DTL /DTA 6 454.76 4 218.03
18.9 Accounting Standard 26 – Intangible Assets 18.11 Accounting Standard 28 – Impairment of Assets
The software acquired for core banking system is treated as Fixed Assets owned by the Bank are treated as ‘Corporate
intangible asset and amortized over a period of 3 years. Assets’ and are not ‘Cash Generating Units’ as defined by AS-
18.10 Accounting Standard 27 – Financial Reporting of 28 issued by ICAI. In the opinion of the Management, there is no
Interests in Joint Ventures impairment of any of the Fixed Assets of the Bank.
Our Bank (with 35% share) has floated a Joint Venture at
Malaysia along with Bank of Baroda (40%) and Andhra Bank 18.12 Accounting Standard 29 – Provision for Contingent
(25%) by name INDIA INTERNATIONAL BANK (MALAYSIA) BHD Liabilities and Contingent Assets:
(IIBM). IIBM has an Authorized Capital of MYR 500 Mio. The The guidelines issued by the Institute of Chartered Accountant
Joint Venture’s Paid up Capital is MYR 330 Mio. (previous year
of India in this respect have been incorporated at the appropriate
MYR 330 Mio.) Our Bank’s share in the Assigned up Capital is
places.
35% - MYR 115.500 Mio.
As on 31.03.2019, Bank’s investment value in the Joint Venture 19 Additional Disclosures
as per the books stands at Rs.193.44 Crore (Original Investment 19.1 Concentration of Deposits, Advances, Exposures and
value Rs.199.58 Crores as reduced by Diminution in Value of
NPAs
Investments amounting to Rs.6.14 crore).

173
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174
19.1.1Concentration of Deposits 19.1.3 Concentration of Exposures (Credit and Investment
(Rs. in Crore) exposure)
Particulars 2018-19 2017-18 (Rs. in Crore)

Total Deposits of twenty largest 22 665.71 20 152.15 Particulars 2018-19 2017-18

depositors
Total Exposure to twenty largest 24 821.13 29 225.24
Percentage of Deposits of twenty 10.19% 9.31% borrowers / customers
largest deposits to Total Deposits of
the Bank Percentage of Exposures to twenty 10.12% 12.17%
largest borrowers/ customers to Total
19.1.2 Concentration of Advances (Credit Exposure Exposure of the Bank on borrowers/
including derivatives) customers
(Rs. in Crore)
Particulars 2018-19 2017-18 19.1.4 Concentration of NPAs
Total Advances to twenty largest 23 057.11 19 991.92 (Rs. in Crore)
borrowers Particulars 2018-19 2017-18
Percentage of Advances to twenty 15.17% 11.80%
largest borrowers to Total Advances Total Exposure to top four NPA 4 569.12 4 202.67
of the Bank accounts

19.1.5 Sector-wise Advances / NPAs

(Rs. in Crore)
2018-19 2017-18
S. SECTOR Outstanding Gross NPAs Percentage Outstanding Gross NPAs Percentage
No Total of Gross Total of Gross
Advances NPAs to total Advances NPAs to total
advances in advances in
that sector that sector
A. Priority Sector
1. Agriculture and allied activities 33 352.67 3 649.18 10.94 29 520.00 3 594.76 12.18
2. Advances to Industries sector 18 352.47 2 991.13 16.30 17 854.85 3 307.42 18.52
eligible as priority sector lending
3. Services 14 811.43 2 029.24 13.70 14 760.07 1 843.81 12.49
4. Personal Loans 12 740.20 493.12 3.87 11 419.04 329.43 2.88
Sub Total (A) 79 256.77 9 162.67 11.56 73 553.96 9 075.42 12.34
B Non Priority Sector
1. Agriculture and allied activities 1 135.13 137.92 12.15 1 230.00 0.00 0.00
2. Industry 39 532.09 20 745.65 52.48 41 657.97 24 516.58 58.85
3. Services 11 723.56 3 011.65 25.69 9 204.62 4 284.88 46.55
4. Personal loans 20 348.80 340.20 1.67 25 352.74 303.27 1.20
Sub Total (B) 72 739.58 24 235.45 33.32 77 445.33 29 104.73 37.58
TOTAL (A+B) 151 996.35 33 398.12 21.97 150 999.29 38 180.15 25.28

19.2 MOVEMENT OF NPAs (As certified by Management)

(Rs. in Crore)

Particulars 2018-19 2017-18

Gross NPAs as on 1st April (Opening Balance) 38 180.15 35 098.26
Additions (Fresh NPAs) during the year 6 070.56 16 378.81
Other Debits / Credits in Existing Accounts 2 773.98 445.98
Sub-total (A) 47 024.69 51 923.05

175
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176
 Particulars 2018-19 2017-18
Less:-
(i) Up-gradations 1 452.10 2 329.86
(ii) Recoveries (excluding recoveries made from upgraded accounts) 3 672.95 1 105.13
(iii) Technical Write-offs / Prudential Write-offs 7 682.82 7 018.32
(iv) Sale to ARC etc 707.98 3 253.95
(v) Exchange Fluctations / Others 110.71 35.64
Sub-total (B) 13 626.57 13 742.90
Gross NPAs as on 31st March
33 398.12 38 180.15
(Closing Balance) (A-B)
19.3 Movement of Technical Write off
(Rs. in Crore)
Particulars 2018-19 2017-18
Opening Balance of Technical / Prudential Write off as on 1st April 12 133.10 7 490.21
Add: Technical / Prudential Write offs during the year 5 986.95 5 777.36
Sub-total (A) 18 120.05 13 267.57
Less: Recoveries and other adjustments in Technical / Prudential written off accounts of 1 296.51 1 134.47
earlier years (B)
Closing Balance as on 31st March (A-B) 16 823.54 12 133.10

19.4 OVERSEAS ASSETS, NPAs AND REVENUE Particulars 2018-19 2017-18

(Rs. in Crore) Provision towards Standard -70.16 -455.07
Particulars 2018-19 2017-18 Assets

Total Assets 11 635.68 19 002.11 Provision for Restructured -78.44 -118.61

accounts
Total NPAs 982.62 1 993.37
Total Revenue 754.27 701.41 Provision made towards Income -2 222.66 -2 332.21
Tax(including Deferred Tax &
19.5 Off-Balance Sheet SPVs sponsored (which are Wealth Tax)
required to be consolidated as per accounting norms)
Other Provision and 591.62 70.28
Name of the SPV sponsored Contingencies
Domestic Overseas Total 8 771.75 9 928.58
-- -- 19.8 Floating Provisions
19.6 Amount of provisions made for Income Tax during the (Rs. in Crore)
year:
(Rs. in Crore) Particulars 2018-19 2017-18

Particulars 2018-19 2017-18 (a) Opening balance in the -- --

Provision for Income Tax 14.14 59.81 floating provisions account
Provision for Deferred Tax -2 236.80 -2 392.02
Net Provision -2 222.66 -2 332.21 (b) The quantum of floating -- --
provisions made in the
19.7 Provisions and Contingencies – Break-up accounting year
Break up of ‘Provisions and Contingencies’ shown under the
head Expenditure in Profit and Loss Account (c) Amount of draw down made -- --
(Rs. in Crore) during the accounting year
(Transferred to Counter Cyclical
Particulars 2018-19 2017-18 Buffer)
Provisions for depreciation on 670.14 829.21
Investment / Written back (d) Closing balance in the -- --
Provision towards NPA 9 881.25 11 934.98 floating provisions account

177
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178
19.9 Disclosure of complaints *Of the two awards received from Banking Ombudsman,
19.9.1 Customer Complaints other than ATM related and Bangalore during 2017-18, both the awards were appealed
Non-digital transactions during 2017-18 and during 2018-19, one appeal was set aside
by the Appellate Authority, RBI, Mumbai in our favour and for
S. Particulars 2018-19 2017-18 another one , Bank has paid.
No. **For the award given by Banking Ombudsman, Chandigarh in
(a) No. of complaints pending 1 180 4 515 2018-19, Bank preferred appeal with Appellate Authority and the
at the beginning of the year same is pending.
(b) No. of complaints received 37 870 19 294 19.9.4 Letters of Comfort (LoC)
during the year
(c) No. of complaints 37 342 22 629 Particulars 2018-19 2017-18
redressed during the year
(d) No. of complaints pending 1 708 1 180 Letters of Comfort issued -- --
at the end of the year during the year
Wherever the complaints are redressed within next working day Letters of Comfort outstanding 2 2
is not included in the statement as on 31st March
19.9.2 ATM – Customer Complaints
Assessed financial impact -- --
S. Particulars 2018-19 2017-18
No. Cumulative Assessed Financial -- --
Obligation
(a) No. of ATM complaints 1 907 720
pending at the beginning During the year 2009-10, the Bank has issued a Letter of
of the year
Comfort (LOC) undertaking to maintain a minimum CRAR of
(b) No. of ATM complaints 110 005 76 918
12% in respect of Bangkok branch and to arrange to convert
received during the year
(c) No. of ATM complaints 108 255 75 731 retained earnings to capital funds and / or infuse further capital
redressed during the year in order to restore the CRAR to a minimum of 12% subject to
(d) No. of ATM complaints 3 657 1 907 approval from RBI. The capital of Bangkok Branch stands at
pending at the end of the THB1798.891 mio as on 31.03.2019.
year
In the worst case scenario of the entire textile exposure of
For the previous year, reclassification has been done as follows:
the branch becoming NPA, we may have to make additional
For the complaints other than ATM, it was decreased by 26
(from 1206 to 1180) and for ATM complaints, it was increased provision to the extent of THB 315.051 mio being unsecured
by 26 (from 1181 to 1907) portion of standard textile advances. If this contingency arises,
19.9.3 Awards passed by the Banking Ombudsman there would be no additional capital to be remitted as existing
reserves are adequate to cover the unsecured amount.
S. Particulars 2018-19 2017-18
No. During the year 2010-11, the Bank has issued a letter of comfort
favoring Bank Negara Malaysia. The Bank in association
(a) No. of unimplemented Awards 2 --
at the beginning of the year / with other Joint Venture partners will provide support to India
appeal pending with Appellate International Bank (Malaysia) Bhd in funding, business and
Authority other matters as and when required and ensure that it complies
(b) No. of Awards passed by the **1 *2 with the requirements of the Malaysian Laws, Regulations
Banking Ombudsmen during and Policies in the conduct of its business operations and
the year management.
(c) No. of Awards implemented 1 -- The financial impact for the letter of comfort issued to Bank
during the year
Negara Malaysia is to the tune of our share of 35% of the paid
(d) No. of Awards set-aside by 1 -- up capital of MYR 330 mio ie. MYR 115.500 mio. Our Bank has
Apellate Authority (set-aside in
invested INR 199.58 crore towards the capital of MYR 115.500
our favour)
mio on various dates.
(e) No. of Awards lapsed due to -- --
non-acceptance by customer
(f) Appeal against the Awards **1 *2
(g) No. of unimplemented Awards -- --
at the end of the year

179
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19.10 Bancassurance Business 19.14 Intra-Group Exposures
(Rs. in Crore) (Rs. in Crore)
Particulars 2018-19 2017-18
S. Nature of income* 2018-19 2017-18
No. Total amount of intra-group 16.83 1641.47
exposures
(a) For selling Life Insurance 2.99 2.70 Total amount of top 20 intra-group 16.83 1641.47
Policies exposures
(b) For selling Non Life 20.14 17.50 % of intra-group exposures to 0.39% 16.82%
Insurance Policies total exposure of the bank on
borrowers/ customers
(c) For Selling Mutual Fund 0.74 1.05 Details of breach of limits on intra- -- --
products group exposures and regulatory
action thereon, if any
(d) Others (specify) -- --
20 Transfer to Depositor Education and Awareness Fund
Total 23.87 21.25 (DEAF)
(Rs. in Crore)
*Fees/Remuneration received in respect of the Bancassurance
Particulars 2018-19 2017-18
Business undertaken by the Bank.
Opening Balance of Amounts 695.58 639.07
19.11 Disclosures relating to Securitisation NIL (previous transferred to DEAF
year – NIL) Add: Amounts transferred to DEAF 115.27 83.80
during the year
19.12 Credit Default Swaps (CDS) NIL (previous year – NIL)
Less: Amounts reimbursed by 8.33 27.29
19.13 Draw Down from Reserves DEAF towards claims
Closing Balance of Amounts 802.52 695.58
Pursuant to RBI and GOI guidance, the Board of Directors has
transferred to DEAF
accorded approval for the exercise of Regulatory Call option in
21 Unhedged Foreign Currency Exposure (UFCE)
view of the regulatory event of PCA framework under which the
Bank is placed in respect of 10% Basel III Compliant Additional As per RBI circular ref to RBI/2013-14/620 & RBI/2013-14/448,
data relating to UFCE of borrowers from individual branches
Tier I Perpetual Bonds – Series I aggregating Rs.1000 crore is obtained through online and consolidated working of the
issued by the Bank in February 2015. required additional provision and capital for Exposures to
entities with Unhedged Foreign Currency Exposure is done at
Coupon payment on redemption of Rs.1000 crore was made on Risk Management Department.
13.06.2018 on account of exercising regulatory call option on The Bank has estimated the provision towards Unhedged
AT-I Bonds. The Bank had made coupon payment amounting Foreign Currency Exposure to their constituents in terms of RBI
Circular DBOD.NO.BP.BC.85/21.06.200/2013-14 dated January
to Rs.35.34 crore out of Statutory Reserves as per RBI Circular
15, 2014 at Rs.6.09 crore. However, the Bank holds provision of
dated 02.02.2017. Rs.11.08 crores as on 31.03.2019 against the same.

181
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 dŘ Å¶ÅĞÅÅ® ÅˆÅÅÅƮʼnÅÅʠŘÅœÅŅ ÅˆÅÅhÄ                2021.99
 iÅÎl¬Å˜ÅiÅlŒœÅÅƸ®ÅÅ¥¸        
22 Disclosure on Liquidity Coverage Ratio
(Rs. in Crore)
Jun-18 Jun-17 Sep-18 Sep-17 Dec-18 Dec-17 Mar-19 Mar-18
Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total
weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted
Value* Value # Value* Value # Value* Value # Value* Value # Value* Value # Value* Value # Value* Value # Value* Value #
[average] (average) [average] (average) [average] (average) [average] (average) [average] (average) [average] (average) [average] (average) [average] (average)
High Quality Liquid Assets
1 Total High Quality Liquid Assets 39488.15 29003.26 46031.19 32170.54 46810.11 38597.66 42252.54 37641.35
(HQLA)
Cash Outflows
2 Retail deposits and deposits from 55095.94 4816.44 59046.78 5118.90 56254.97 4930.04 53127.05 4628.37 56134.39 4908.51 53438.04 4658.80 57357.07 5024.94 55043.70 4818.88
small business
customers, of which:
(i) Stable deposits 13863.00 693.15 15715.60 785.78 13909.15 695.46 13686.61 684.33 14098.45 704.92 13700.01 685.0005 14215.51 710.78 13709.72 685.486
(ii) Less stable deposits 41232.94 4123.29 43331.18 4333.118 42345.82 4234.58 39440.44 3944.044 42035.94 4203.59 39738.03 3973.80 43141.56 4314.16 41333.98 4133.398
(iii) Unsecured Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 Unsecured wholesale funding, 38322.94 9608.90 34785.80 8050.31 38651.82 11208.79 37838.10 10117.43 41718.37 12396.21 40798.16 10579.92 40662.24 11141.18 41558.64 11926.96
of which:

183
(i) Operational deposits (all 21198.45 1101.38 23368.55 1223.47 19418.02 1522.86 22813.35 1176.83 19901.48 1052.06 24999.33 1306.80 20023.07 1060.85 21336.48 1109.82
counterparties)
(ii) Non-operational deposits (all 17124.49 8507.52 11417.25 6826.84 19233.80 9685.93 15024.75 8940.60 21816.89 11344.15 15798.83 9273.12 20639.17 10080.33 20222.16 10817.14
counterparties)
(iii) Unsecured debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 Secured wholesale funding 0 0 485.47 0 452.19 452.19 0 0 460.96 460.96 152.44 152.44 1001.34 1.87 1307.34 1307.34
5 Additional requirements, of which 156.75 115.56 8467.97 892.12 65.38 15.66 150.51 103.59 194.99 167.78 192.66 154.78 144.70 88.10 192.05 167.82
(i) Outflows related to derivative 111.09 111.09 51.09 51.09 10.23 10.23 98.49 98.49 164.82 164.82 150.63 150.63 81.92 81.92 165.22 165.22
exposures and other
collateral requirements
(ii) Outflows related to loss of funding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
on debt products
(iii) Credit and liquidity facilities 45.66 4.47 8416.88 841.03 55.15 5.43 52.02 5.10 30.17 2.96 42.03 4.15 62.78 6.18 26.83 2.60
6 Other contractual funding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
obligations
7 Other contingent funding 22765.44 682.96 68999.33 2833.82 46854.17 1857.07 55384.68 2185.36 47897.95 1888.39 58765.55 2337.15 52383.27 2286.39 49972.96 2021.99
obligations
8 TOTAL CASH OUTFLOWS 15223.86 16895.15 18463.75 17034.75 19821.85 17883.09 18542.48 20242.99
Cash Inflows
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 ›ÅЇťˆÅÅÅƘŵ›ÅÅÅƌˆÅhiÅm¶Å›ÅÅÓÝwÅ¢¶ÅÓdÅĈŮÅÅ¥¸ 112.56 112.56 142.47 142.47 10.51 10.51 2189.19 2189.19 174.70 174.70 2150.17 2150.17 9719.25 5144.50 3005.90 3005.90
 dŘ Å˜ÅiÅlŒdÅĈŮÅÅ¥¸ 10563.31 5457.29 8858.70 5213.44 14198.34 7340.24 8148.80 4261.98 10760.06 5537.36 12951.98 6695.48 343.61 343.61 10718.70 5553.88
12 iÅÎl¬Å˜ÅiÅlŒdÅĈŮÅÅ¥¸ 10675.87 5569.85 36143.16 5355.91 26493.29 9385.18 30904.99 6451.17 23012.60 7589.90 31040.15 8845.65 30697.84 7628.09 26524.60 8559.78
iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ iÅÎl¬Å¶ÅŸÅÅ ÅÅÓÅÆwňÅ
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 iÅÎl¬ÅhÀÅiÅm ÅÐh¬Åh 39488.15 29003.26 46031.19 32170.54 46810.11 38597.66 42252.54 37641.35
 iÅÎl¬ÅÅƘŮŬŘÅiÅlŒ›Å¨®ÅŸ 9654.01 11539.24 9078.57 10583.58 12231.95 9037.44 10914.39 11683.21
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 Jun-18 Jun-17 Sep-18 Sep-17 Dec-18 Dec-17 Mar-19 Mar-18
Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total Total Un- Total
weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted weighted Weighted
Value* Value # Value* Value # Value* Value # Value* Value # Value* Value # Value* Value # Value* Value # Value* Value #
[average] (average) [average] (average) [average] (average) [average] (average) [average] (average) [average] (average) [average] (average) [average] (average)
9 Secured lending (e.g. reverse 0 0 27141.99 0 12284.44 2034.43 20567.00 0 12077.84 1877.84 15938.00 0 20634.98 2139.98 12800.00 0
repos)
10 Inflows from fully performing 112.56 112.56 142.47 142.47 10.51 10.51 2189.19 2189.19 174.70 174.70 2150.17 2150.17 9719.25 5144.50 3005.90 3005.90
exposures
11 Other cash inflows 10563.31 5457.29 8858.70 5213.44 14198.34 7340.24 8148.80 4261.98 10760.06 5537.36 12951.98 6695.48 343.61 343.61 10718.70 5553.88
12 TOTAL CASH INFLOWS 10675.87 5569.85 36143.16 5355.91 26493.29 9385.18 30904.99 6451.17 23012.60 7589.90 31040.15 8845.65 30697.84 7628.09 26524.60 8559.78
Total Total Total Total Total Total Total Total
Adjusted Adjusted Adjusted Adjusted Adjusted Adjusted Adjusted Adjusted
Value Value Value Value Value Value Value Value
21 TOTAL HQLA 39488.15 29003.26 46031.19 32170.54 46810.11 38597.66 42252.54 37641.35
22 TOTAL NET CASH OUTFLOWS 9654.01 11539.24 9078.57 10583.58 12231.95 9037.44 10914.39 11683.21
23 LIQUIDITY COVERAGE RATIO 409.0337 251.3447 507.0313 303.9664 382.6872 427.0860 387.1269 #DIV/0! 322.1832
(%)
*Unweighted values (Average) are provided by the management and relied upon by the Auditors.

185
Qualitative Disclosure about LCR
Basel III capital regulation has been implemented from April 1, 2013 in phases and it was to be fully implemented-as on March 31, 2019. Further RBI also introduced
Basel III Liquidity Coverage Ratio (LCR) to be implemented by banks in India from January 1, 2015 with full implementation being effective from January 1, 2019. With
a view to provide transition time for banks, the requirement was minimum of 60% for the calendar year 2015 i.e with effect from January 1, 2015 and rise in equal steps
to reach the minimum required level of 100% on January 1, 2019
The LCR promotes short term resilience of banks to potential liquidity disruptions by ensuring that bank have sufficient high quality liquid assets (HQLA) to survive an
acute stress scenario lasting for 30 days.
Definition of LCR: Stock of high quality liquid assets (HQLAs)
Total net cash outflows over the next 30 calendar days
In the stock of high quality liquid assets (HQLA), there are two categories of assets, viz. Level 1 and Level 2 assets. Level 2 assets are sub-divided into Level 2A and
Level 2B assets on the basis of their price-volatility. Assets to be included in each category are those that the bank is holding on the first day of the stress period. Level
1 assets are with 0% haircut while in Level 2, 2A assets are with a minimum 15% haircut and Level 2B Assets, with a minimum 50% haircut.
The total net cash outflows is defined as the total expected cash outflows minus total expected cash inflows for the subsequent 30 calendar days. Total expected cash
outflows are calculated by multiplying the outstanding balances of various categories or types of liabilities and off-balance sheet commitments by the rates at which
they are expected to run off or be drawn down. Total expected cash inflows are calculated by multiplying the outstanding balances of various categories of contractual
receivables by the rates at which they are expected to flow in up to an aggregate cap of 75% of total expected cash outflows.
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¶ÅiÅl¬ÅœÅiÅlÅ ÅÅ¢ÅÅƯÅ 2018-19 2017-18
 ŸÅŘÅiÅliÅÓl¤›ÅŸÅԮźÅÅÌiÅÒlˆÅ -- 250.13
 h˜Å›ÅÅÊhiÅÓl¤›ÅŸÅԮźÅÅÌiÅÒlˆÅ -- 54.75

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186
Details of LCR for the four quarters of FY 2018-19:
(Rs. In Crore)
Details 30.06.18 30.09.18 31.12.18 31.03.19
HQLA 39488.15 46031.20 46810.11 42252.54
Total Net cash Outflows 9654.03 9078.57 12231.95 10914.40
LCR in % 409.03 507.03 382.69 387.13
LCR for the bank as on 31.03.2019 stood at 387.13% which is well above the RBI stipulated level of 100% for the current calendar
year. Bank is having a strong built up of High Quality Liquid Assets at Rs.42252.54 Crore as on 31.03.2019. Bank has government
securities to the tune of Rs.5951.53 Crore in excess to the minimum SLR requirements, and has liquidity to meet sudden cash
outflows.
The Bank has been maintaining HQLA mainly in the form of SLR investments over and above the mandatory requirements. Retail
deposits constitute major portion of total funding sources, and such funding sources are well diversified. Management is of the view
that the Bank has sufficient liquidity cover to meet its likely future short term requirements.
23 Disclosure on the Strategic Debt Restructuring Scheme (Accounts which are currently under the Stand-Still Period)

Particulars 2018-19 2017-18

Number of Accounts where SDR has been applied -- --
(Rs. in Crore)

Amount Outstanding as on 2018-19 2017-18

Classified as Standard -- --
Classified as NPA -- --
Amount Outstanding with respect to accounts where conversion of debt to equity is 2018-19 2017-18
pending
Classified as Standard -- --
Classified as NPA -- --
Amount Outstanding with respect to accounts where conversion of debt to equity has 2018-19 2017-18
taken place
Classified as Standard -- --
Classified as NPA -- --
24 Disclosure on the Scheme for Sustainable Structuring of Stressed Assets (S4A)

Particulars 2018-19 2017-18

Number of Accounts where S4A has been applied
Classified as Standard -- 4
Classified as NPA -- 1
(Rs. in Crore)
Aggregate Amount Outstanding 2018-19 2017-18
Classified as Standard -- 250.13
Classified as NPA -- 54.75

(Rs. in Crore)
Amount Outstanding 2018-19 2017-18
Classified as Standard
In Part A -- 127.96
In Part B -- 122.17
Classified as NPA
In Part A -- 27.47**
In Part B -- 27.28
Provision Held -- 72.19
**Account NPA as on reference date. After implementation, Part A upgraded to Standard
Note: The S4A accounts reported in FY 2017-18 have completed satisfactory performance period. Hence, it is NIL for FY
2018-19.

187
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188
25 Advances Related Frauds

Particulars 2018-19 2017-18

Number of Frauds reported 115# 45@
(Rs. in Crore)
Particulars 2018-19 2017-18
Amount involved in such Frauds - Outstanding as on 31st March (Net off Deductions) 3 957.08 1 372.90
Quantum of Provision made during the year 3 957.08 1 372.90
Quantum of unamortized provision debited from ‘other reserves’ -- --
#These 115 FMRs (Fraud Monitoring Return) consists of 475 accounts.
One account pending to be reported for the year 2018-19
@These 45 FMRs (Fraud Monitoring Return) consists of 987 accounts.
OTHER THAN ADVANCES RELATED FRAUDS

Particulars 2018-19 2017-18

Number of Frauds reported 46 29
(Rs. in Crore)

Particulars 2018-19 2017-18

Amount involved in such Frauds - Outstanding as on 31st March 446.61 110.42
Quantum of Provision made for the outstanding amount as on 31st March 446.61 110.42
26 Priority Sector Lending Certificates (PSLCs)

S.No. Particulars 2018-19 2017-18

Purchase Sales Purchase Sales
1 PSLC - Agriculture -- -- -- --
2 PSLC - SF/MF -- 1500 -- 1300
3 PSLC - Micro Enterprises -- -- -- --
4 PSLC - General -- 2236 -- 105

Note:
1) The disclosure is in line with RBI Circular FIDD.CO.Plan.BC.23/04.09.01/2015-16 dated : April 7, 2016 on Priority
Sector Lending Certificates(PSLC).

27 MSME Advances Restructured as on 31.03.2019

(Amount Rs. In Crore)

Period No. of Amount

Accounts
Quarter – March, 2019 8403 373.88

28 As per RBI directions vide letter No.DBR.NO.BP:15199/21.04.048/2016-17 dated June 23, 2017 in respect of certain
Borrowal accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC) and vide letter no. DBR.NO.BP.
BC.1949/21.04.048/2017-18 dated August 28, 2017 in respect of certain Borrowal accounts covered under the provisions of
Insolvency and Bankruptcy Code (IBC), the Bank was required to make additional provision as stated therein. Accordingly,
the Bank has made adequate provision in respect of those accounts without availing any concession as per the latest RBI
letter No.DBR.No.BP/8756/21.04.048/2017-18 dated 02.04.2018.
29 Comparative Figures
Previous year’s figures have been regrouped / rearranged / reclassified wherever necessary.

189
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190
 INDEPENDENT AUDITORS’ REPORT
To the Members of Indian Overseas Bank
Report on the Audit of the Standalone Financial Statements
Opinion
1. We have audited the standalone financial statements of Indian Overseas Bank (“the Bank”), which comprise the Balance
Sheet as at 31st March 2019, the Statement of Profit and Loss and the Statement of Cash Flows for the year then ended,
and notes to financial statements including a summary of significant accounting policies and other explanatory information
in which are included returns for the year ended on that date of 20 branches audited by us and 1614 branches (including
4 overseas branches and 15 Regional Offices) audited by statutory branch auditors and one Overseas branch reviewed by
Independent Auditor. The branches audited by us and those audited by other auditors have been selected by the Bank in
accordance with the guidelines issued to the Bank by the Reserve Bank of India. Also included in the Balance Sheet, the
Statement of Profit and Loss and Statement of Cash Flows are the returns from 1709 branches (Including 33 Regional Offices
and 7 Zonal Offices) which have not been subjected to audit. These unaudited branches account for 11.64% of advances,
26.06% of deposits, 8.23% of interest income and 24.65% of interest expenses.
2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
financial statements give the information required by the Banking Regulation Act,1949 (“the act”) in the manner so required
for bank and are in conformity with accounting principles generally accepted in India and:
(i) the Balance Sheet, read with the notes thereon is a full and fair Balance Sheet containing all the necessary particulars,
is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at 31st March, 2019;
(ii) the Profit and Loss Account, read with the notes thereon shows a true balance of loss for the year ended on that date;
and
(iii) the Cash Flow Statement gives a true and fair view of the Cash Flows for the year ended on that date.
Basis for Opinion
3. We conducted our audit in accordance with the Standards on Auditing (SAs) issued by the Institute of Chartered Accountants
of India (ICAI). Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit
of the Financial Statements section of our report. We are independent of the Bank in accordance with the code of ethics
issued by the Institute of Chartered Accountants of India together with ethical requirements that are relevant to our audit of
the financial statements under the provisions of the act, and we have fulfilled our other ethical responsibilities in accordance
with these requirements and the code of ethics. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Emphasis of Matter
4. We draw attention to:
a) Note No. 7.3 of Schedule 18 relating to recognition of Deferred Tax Asset for the year aggregating to Rs.2236.80 Crore.
b) Note No 27 of Schedule 18 relating to MSME restructuring. Bank has restructured 8403 MSME accounts and treated
them as standard assets amounting to Rs.373.88 crore as per RBI Circular 2018-19 DBR No BP.BC. 18/21.04.048/2018-
19 dated January 1 2019. Further in accordance with the RBI Circular DBR.No.BP.BC.108/21.04.048/2017-18 dated 6th
June 2018, bank has retained advances of Rs.424.28 crore as Standard asset as on 31st March 2019.
Our Opinion is not modified in respect of the above matters.
Key Audit Matters:
5. Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the current period. These matters were addressed in the context of our audit of the financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined
the matters described below to be the Key Audit Matters to be communicated in our Report.

191
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192
Sr. Key Audit Matter
No
1 Income Recognition, Asset Classification & Principal Audit Procedures
Provisioning relating to Advances Our audit approach consisted testing of the design and operating
Advances constitute 53.04% of the Bank’s total effectiveness of the internal controls and substantive testing as under
assets. :-
The recognition of income on accrual basis in
respect of advances extended by the Bank,
Classification of advances into Performing and
Non performing and provisioning thereof are in
accordance with the extant prudential norms on
Income Recognition and Asset Classification and
provisioning (IRAC) norms and other circulars and
directives issued by Reserve bank of India from
time to time (Refer Schedule 17, read with Note 3 of
Schedule 18 to the financial statements).
Taking into consideration the nature of transactions,
compliance with the Reserve Bank of India
guidelines, issues involved in the valuation of
securities etc., in our opinion classification of
Advances into performing and non performing,
recognition of income in respect of such advances
and also provisioning relating to Performing/Non-
Performing advances are considered to be one of
the most significant matter in the audit and therefore
determined to be a Key audit matter.
2 Contingent Liability
The contingent liability as defined in AS 29 – We have carried out the validation of information provided by the
provisions, contingent liability and contingent management by performing the following procedures
assets requires assessment of probable outcomes
and cash flows. The identification and quantification
of contingent liabilities require estimation and
judgment by management.
(Refer Schedule 17, read with Note 18.12 of
Schedule 18 to the financial statements)
In view of associated uncertainty relating to the
outcome of the matters relating to litigations involving Examining the relevant documents on record.
Direct and Indirect taxes, various claims filed by
other parties not acknowledged as debts, we have
determined the above area as a Key audit matter
3 IT Systems & Control
The entire Preparation of financial statements is
highly dependent on CBS and other supporting
software and hardware controls. Adequate and
appropriate IT controls are required to ensure that
these IT application process data as expected
and changes are made in an appropriate manner.
Such controls ensure mitigating the expected
risk of erroneous output data. Audit outcome is
dependent on the extant IT controls and systems,
and accordingly the above areas are determined to
be a Key audit matter.
Auditor’s Response
Evaluating the design of internal controls relating to
implementation of prudential norms on IRAC and other related
circulars/directives issued by RBI and also the internal policies
and procedures of the Bank.
Examining the efficacy of various internal controls over advances
to determine the nature, timing and extent of the substantive
procedures and compliance with the observations of the various
audits conducted as per the monitoring mechanism of the Bank
and RBI inspection.
Examining all large advances/stressed advances and other
advances on a sample basis including review of valuation reports
of independent valuers as provided by the Bank’s management.
Relying on the audit reports of other Statutory Branch Auditors
Reviewing Memorandum of Changes suggested by the Branch
Auditors and take appropriate action.
Review of various audit and inspection reports made available to
us in the relevant areas.
Placing reliance on the opinions of domain experts on legal
matters, titles, valuation and other aspects of securities charged
to the bank.
Review of files of the borrowers selected on sample basis and
operations of such accounts.
Performing relevant analytical procedures.
Test checking of interest application, levying of other charges,
commission etc.,
Principal Audit Procedures
Evaluating reasonableness of the underlying assumptions.
Understanding the current status of the litigations/tax
assessments.
Examination of recent orders and /or communication received
from various tax authorities/judicial forums and follow up action
thereon.
Relying on relevant external evidence available including legal
opinion , relevant judicial precedents and industry practices.
Getting management confirmation where-ever necessary.
Principal Audit Procedures
We have carried out our audit procedures with standards on auditing
guidelines towards implementation of IT policies and procedures
followed by the bank in order to effectively monitor, control, and
evaluate the IT applications and controls to ensure effective
implementation of such policies and procedures.
We have also relied on the report issued by the IS Auditor and
obtained necessary inputs from IS experts wherever necessary.
193
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194
 4 Classification and valuation of Investments, Principal Audit Procedures
identification of and provisioning for non We evaluated and understood the Bank’s internal control systems to
performing investments. comply with relevant RBI guidelines regarding valuation, classification,
(Refer Schedule 17, read with Note 2 of Schedule identification of Non Performing Investments, provisioning and
18 to the financial statements) depreciation related to investments.
Investments constitute 26.77% of the total assets Evaluating the process adopted for collection of data from various
of the bank. sources for determining the value of investments.
Valuation of Investments are done as per the Assessing and evaluating the system of identification of Non
guidelines, circulars and directives issued by RBI performing investments, income recognition on such investments
from time to time involving applying the rates and also ensuring creation of necessary provision in respect of Non
quoted on BSE/NSE and other agencies, relying performing investments.
on the financial statements of unlisted companies
etc. Taking into consideration the volume of
transactions, value of investments being carried in
the books of the bank, complexities involved in the
valuation of investments we have considered the
above area as a Key audit matter.
Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements
6. The Bank’s Board of Directors is responsible with respect to the preparation of these standalone financial statements that
give a true and fair view of the financial position, financial performance and cash flows of the Bank in accordance with the
accounting principles generally accepted in India, including the Accounting Standards issued by ICAI, and provisions of
Section 29 of the Banking Regulation Act, 1949 and circulars and guidelines issued by the Reserve Bank of India (‘RBI’) from
time to time. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions
of the Act for safeguarding of the assets of the Bank and for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgements and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring
the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Bank’s ability to continue as a going
concern, disclosing, as applicable matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Bank or to cease operations, or has no realistic alternative but to do so.
Auditor’s Responsibilities for the Audit of the Financial Statements
7. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional scepticism
throughout the audit. We also:
 ‡ ,GHQWLI\DQGDVVHVVWKHULVNVRIPDWHULDOPLVVWDWHPHQWRIWKHILQDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRUHUURUGHVLJQ
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate
to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.
 ‡ (YDOXDWHWKHDSSURSULDWHQHVVRIDFFRXQWLQJSROLFLHVXVHGDQGWKHUHDVRQDEOHQHVVRIDFFRXQWLQJHVWLPDWHVDQGUHODWHG
disclosures made by management.
 ‡ &RQFOXGHRQWKHDSSURSULDWHQHVVRIPDQDJHPHQW·VXVHRIWKHJRLQJFRQFHUQEDVLVRIDFFRXQWLQJDQGEDVHGRQWKHDXGLW
evidence obtained whether a material uncertainty exists related to events or conditions that may cast significant doubt on
the bank’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate,
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report.
However, future events or conditions may cause the bank to cease to continue as a going concern.
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whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.

195
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196
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit
and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to
bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in
the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our
auditor’s report unless law or regulation precludes public disclosure about the matter, or when, in extremely rare circumstances,
we determine that a matter should not be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
Other Matter
8. We did not audit the financial statements / information of 1614 (number) branches included in the standalone financial
statements of the Bank whose financial statements / financial information reflect total assets of Rs.1,05,678 crore as at 31st
March 2019 and total revenue of Rs. 8,485 crore for the year ended on that date, as considered in the standalone financial
statements. The financial statements / information of these branches have been audited by the branch auditors whose
reports have been furnished to us, and in our opinion in so far as it relates to the amounts and disclosures included in respect
of branches, are based solely on the report of such branch auditors.
Our opinion is not modified in respect of this matter.
Report on Other Legal and Regulatory Requirements
9. The Balance Sheet and the Profit and Loss Account have been drawn up in accordance with Section 29 of the Banking
Regulation Act, 1949.
10. Subject to the limitations of the audit indicated in paragraph 6 to 8 above and as required by the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970/1980, and subject also to the limitations of disclosure required therein,
we report that:
(a) 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;
(b) The transactions of the Bank, which have come to our notice, have been within the powers of the Bank; and
(c) The returns received from the offices and branches of the Bank have been found adequate for the purposes of our
audit.
11. We further report that:
a) In our opinion, proper books of account as required by law have been kept by the Bank so far it appears from our
examination of those books and proper returns adequate for the purposes of our audit have been received from
branches not visited by us
b) the Balance Sheet, the Profit and Loss Account and the Statement of Cash Flows dealt with by this report are in
agreement with the books of account and with the returns received from the branches not visited by us
c) the reports on the accounts of the branch offices audited by branch auditors of the Bank under section 29 of the
Banking Regulation Act, 1949 have been sent to us and have been properly dealt with by us in preparing this report;
and
d) in our opinion, the Balance Sheet, Profit and Loss Account and the Statement of Cash Flows comply with the applicable
accounting standards, to the extent they are not inconsistent with the accounting policies prescribed by RBI.
For R SUBRAMANIAN AND COMPANY LLP For S A R C & ASSOCIATES
Chartered Accountants Chartered Accountants
FRN 004137S/S200041 FRN 006085N
R SUBRAMANIAN CHETAN THAKKAR
Partner Partner
M.No.08460 M.No. 114196
For PATRO & CO For M. SRINIVASAN & ASSOCIATES
Chartered Accountants Chartered Accountants
FRN 310100E FRN 004050S
N ANANDA RAO M. SRINIVASAN
Partner Partner
M.No.051656 M.No.022959
Place: Chennai
Date: 09.05.2019

197
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ADDITIONAL DISCLOSURES AS ON 31.03.2019
Reserve Bank of India issues guidelines on Basel III Capital
Adequacy Framework from time to time. In terms of the
guidelines, the following disclosures are made as per the
specified Formats under Pillar III requirement:
RISK MANAGEMENT
Risk taking is an integral part of the banking business. Banks
assume various types of risks in its activities while providing
different kinds of services based on its risk appetite. Each
transaction that the Bank undertakes changes the risk profile
of the Bank. In the normal course of business, a bank is
exposed to various risks including Credit Risk, Market Risk and
Operational Risk. The objective of risk management is not to
prohibit or prevent risk taking activity, but to ensure that the risks
are consciously taken with full knowledge, clear purpose and
understanding so that it can be measured and mitigated. With a
view to managing such risks efficiently and strengthening its risk
management systems, the bank has put in place various risk
management measures and practices which include policies,
tools, techniques, monitoring mechanism and management
information systems (MIS).
The Bank, on a continuous basis, aims at enhancing and
maximizing the shareholder values through achieving
appropriate trade off between risks and returns. The Bank’s
risk management objectives broadly cover proper identification,
measurement, monitoring, control and mitigation of the risks
with a view to enunciate the bank’s overall risk philosophy.
The risk management strategy adopted by the bank is based
on an understanding of risks and the level of risk appetite of
the bank. Bank’s risk appetite is demonstrated broadly through
prescription of risk limits in various policies relating to risk
management.
The bank has set up appropriate risk management organization
structure in the bank. Risk Management Committee of the
Board (RMCB), a sub-committee of the Board, is constituted
which is responsible for management of credit risk, market
risk, operational risk and other risks in the Bank. The bank has
also constituted internal risk management committees namely
Credit Risk Management Committee (CRMC) for managing
credit risk, Asset Liability Management Committee (ALCO),
Funds Committee for managing market risk, Operational Risk
Management Committee (ORMC) and Product/Process Risk
Mitigation Committee (PRMC) for managing operational risk,
and Information Security Committee for managing Information
security.
A full-fledged Risk Management department is functioning at the
Bank’s Central Office, independent of the business departments
for implementing best risk management systems and practices
in the bank. A Chief Risk Officer in the rank of General Manager
of the bank is in charge of the department who is responsible
for overall supervision on risk management in the bank and is
the convener for all the internal risk management committees.
The Mid-Office in Risk Management and Credit Support
Services Dept., in particular, and other functional departments/
branches in general also carry out the risk management
functions and monitor the adherence/compliance to policies,
risk limit framework and internal approvals. Risk Managers have
been placed at Regional Offices and Zonal Offices. Apart from
coordinating with Risk Management Department, Central Office
for submission of various MIS, they participate in Regional and
Zonal Level Credit Approval Committees.
199
The basic approach to manage risk more effectively lies with
controlling the risk at the point of its origination. The bank
had implemented the New Capital Adequacy Framework
(Basel-II) with effect from 31.3.2008 and is in compliance with
the framework, in line with the guidelines issued by the RBI
from time to time. Basel III guidelines have been introduced
from 01.04.2013, and bank is maintaining capital as per the
guidelines. The Basel-II Framework is based on three mutually
reinforcing pillars. While the first pillar of the revised framework
addresses the minimum capital requirement for credit, market
and operational risks, the second pillar of supervisory review
process ensures that the bank has adequate capital to address
all the risks in their business commensurate with bank’s risk
profile and control environment. As per RBI Circular, the Bank
has put in place a Board approved Policy on Internal Capital
Adequacy Assessment Process (ICAAP) to address second
pillar requirements. This policy aims at assessing all material
risks to which the bank is exposed over and above the regulatory
prescriptions under the first pillar risks, and ensuring adequate
capital structure to meet the requirements on an ongoing basis.
The bank has formulated a “Stress Testing framework” to assess
the potential vulnerability of the organization to exceptional
but plausible events in line with the guidelines issued by RBI
on 2nd December 2013. Stress testing and scenario analysis,
particularly in respect of the bank’s material risk exposure,
enable identification of potential risks inherent in a portfolio
at times of economic recession and accordingly take suitable
proactive steps to address the same. In accordance with the
policy prescriptions, the bank carries out various stress tests
on bank’s balance sheet periodically and specific portfolios and
places the reports to ALCO/ RMCB / Board.
Board approved Business Continuity Plan and Disaster
Recovery plan is in place. The 3 way data centers have been
implemented to facilitate Zero data loss, Multiple MPLS-
VPN high bandwidth connections at all 3 data Centers and
Central, Dual connectivity from different alternate service/
alternate providers and alternate media for branches have been
established. Firewall and Intrusion detection systems have been
implemented. A Security Operating Centre (SOC) has been
established by the Information System Security Department
to monitor and analyses the information security incidents to
take corrective steps while IS Audit section takes care of the
periodical Information Systems Audit of the Bank’s department
and branches. The bank has fine-tuned the information security
systems in accordance with RBI guidelines. Regular DR drills
are being conducted every quarter. To ensure Network security,
periodical Vulnerability assessment and Penetration testing
exercise are conducted by external experts.
The Bank is also in the process of upgrading its risk management
systems and procedure for migrating to the advanced
approaches envisaged under Basel II framework.
Reserve Bank of India has issued final guidelines on Liquidity
Risk Management effective from March 2013. The guideline
covers preparation and submission of consolidated bank
operations including domestic operations and overseas
operations separately at various frequencies. The bank has put
in place system and procedure in this regard in compliance with
the RBI guidelines.
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200
With regard to the RBI guidelines on Liquidity Coverage ratio and
Net Stable funding ratio, Bank is reporting LCR to RBI from Jan.
2015 onwards. The implementation of the LCR has been phased
in from January 1, 2015 with a minimum mandatory requirement
at 60 per cent, which will gradually increase to 100 per cent by
January 1, 2019. RBI Vide their Circular dated 17.05.2018 has
issued the final guidelines on Net Stable Funding Ratio (NSFR)
and mentioned that the implementation date of NSFR shall be
communicated in due course. The bank shall accordingly report
NSFR as and when advised by RBI.
Basel III has introduced a simple, transparent and non-risk
based leverage ratio, which is calibrated to act as a credible
supplementary measure to the risk based capital requirement.
Bank has been in compliance with the regulatory requirement
on Leverage ratio and reporting to RBI on a quarterly basis from
the quarter ending June 30, 2013
Reserve Bank of India has issued guidelines on implementation
of Basel III capital regulations in India to be implemented
in phased manner effective from April 1, 2013 with Banks
disclosing Basel III capital ratios from the quarter ending June
30, 2013. The bank is complying with the same.
The third pillar of Basel-II framework refers to market discipline.
The purpose of market discipline is to complement the minimum
capital requirements detailed under Pillar 1 and the supervisory
review process detailed under Pillar 2. In this context and
as guided by RBI a set of disclosure (both qualitative and
quantitative) are published in DF 1 to 11 (annexed) with regard
to risk management in the bank, which will enable market
participants to assess key pieces of information on the (a) scope
of application (DF-1), (b) Capital Adequacy (DF-2), (c) Credit
Risk: General Disclosures for all banks (DF-3), (d) Credit Risk:
Disclosures for Portfolios subject to the Standardized Approach
(DF-4), (e) Credit Risk Mitigation: Disclosures for Standardised
Approaches (DF-5), (f) Securitisation Exposures: Disclosure
for Standardised Approach (DF-6), (g) Market Risk in Trading
Book (DF-7), (h) Operational Risk (DF-8), (i) Interest Rate Risk
in the Banking Book (IRRBB) (DF-9), (j) General Disclosure
for Exposures Related to Counter Party Credit Risk (DF-
10),(k) Composition of Capital (DF (11) and (L) Leverage ratio
common disclosure template (DF-18). This would also provide
necessary information to the market participants to evaluate the
performance of the bank in various parameters.

Data Required as per Pillar III disclosure under Basel III

1. Scope of Application and Capital Adequacy
TABLE DF –1:
Scope of application
Name of the Banking Group to which the framework applies
(i) Qualitative disclosures:
a. List of group entities considered for consolidation:

Name of the Whether Explain the Whether the Explain the Explain the Explain the
Entity / Country the entity is method of entity is included method of reasons for reasons if
of Incorporation included under consolidation under regulatory consolidation difference in consolidated
accounting scope of the method of under only one
scope of Consolidation consolidation of the scopes of
Consolidation (yes/ no) consolidation
(yes/ no)

Pandyan Grama Yes Equity Method No Equity Method NA Associate- Not

Bank under the scope
of consolidation
Odisha Gramya Yes Equity Method No Equity Method NA
Bank

Universal Yes Proportionate No Proportionate NA Joint Venture:

Sompo General Consolidation Consolidation Not under scope
Insurance Method Method of Regulatory
consolidation
Indian Yes Proportionate No Proportionate NA
International Consolidation Consolidation
Bank, Berhad, Method Method
Malaysia
b. List of Group entities not considered for consolidation both under the accounting and regulatory scope of consolidation

201
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202
 Name of the Principal activity of Total Balance Sheet % of the bank’s Regulatory Total Balance Sheet
Entity / Country of the entity Equity (as stated holding in the total treatment of the assets (as stated
Incorporation in the accounting equity Bank’s investments in the accounting
balance sheet of in the capital balance sheet of
the legal entity) instruments of the the legal entity)
entity

Bank does not NA

belong to any
group
ii. Quantitative disclosures:
c. List of Group entities considered for consolidation

Name of the Entity / Country of Principal activity of the entity Total Balance Sheet Equity Total Balance Sheet assets
Incorporation (as indicated in (as stated in the accounting (as stated in the accounting
(i)a. above) balance sheet of the legal balance sheet of the legal
entity) entity)
Pandyan Grama Bank Banking 717.62 11834.26
Odisha Gramya Bank Banking 669.29 11578.27
d. The aggregate amount of capital deficiencies in all subsidiaries which are not included, in the regulatory scope of consolidation
i.e., that are deducted:

Name of the Principal activity of the Total Balance Sheet % of the bank’s holding Capital deficiencies
Subsidiaries / Country entity Equity (as stated in the in the total equity
of Incorporation accounting balance
sheet of the legal
entity)
Not applicable
e. The aggregate amounts (e.g. currant book value) of the Bank’s total interests in insurance entities, which are risk weighted:

Name of the insurance
entities / Country of
Incorporation
Universal Sompo
General Insurance
f. Any restrictions or impediments on transfer of funds or regulatory capital within the Banking Group: Not Applicable
Table DF – 2: CAPITAL ADEQUACY
Qualitative disclosures:
Principal activity of the Total Balance Sheet % of the bank’s holding Quantitative impact on
entity Equity (as stated in the in the total equity/ regulatory capital of
accounting balance proportion of voting using risk weighting
sheet of the legal power method vs. using the
entity) full deduction method
General Insurance 36820 18.06 Reduction of less than
1 bps in CRAR
the requisite reports at the Branch level, Regional Office level
and Central Office level through CBS System.

Reserve Bank of India has issued guidelines on implementation
of Basel III capital regulations in India to be implemented
in a phased manner effective from April 1, 2013 with Banks
disclosing Basel III capital ratios from the quarter ending June
30, 2013. The bank is complying with the same.
The Bank has computed capital for market risk and operational
risk as per the prescribed guidelines at the bank’s Central Office,
based on the relevant data. In computation of capital for Credit
risk under Standardized Approach, the bank has relied upon
the borrower-wise data captured from each individual branch
besides portfolios held at Central Office of the bank. In all loan
types, the credit risk capital computation is done on borrower
basis or facility type basis as per the segmentation advised in
the RBI guidelines. For this purpose, the Bank has developed in-
house software, which enables computation of capital for credit
risk of the advances portfolio of the branches and generation of
RBI has prescribed that banks are required to maintain a
minimum total capital (MTC) of 9% of total risk weighted
assets (RWAs) i.e. capital to risk weighted assets (CRAR). The
framework issued by RBI prescribes maintenance of a minimum
Tier-1 CRAR of 7% with a minimum CET 1 of 5.5%. Total Capital
(Tier 1 Capital plus Tier 2 Capital) must be at least 9% of RWAs
on an ongoing basis. As per Basel III guidelines, in addition to
the minimum Common Equity Tier 1 capital of 5.5% of RWAs,
banks are also required to maintain a capital conservation
buffer (CCB) of 2.5% of RWAs in the form of Common Equity
Tier 1 capital with a transitional arrangement from 31.03.2016
to 31.03.2019 with an increase of 0.625% every year. However,
RBI Vide Circular No. DBR.BP.BC.No.20/21.06.201/2018-19 of
10.01.2019 has informed the deferment of the implementation of
the last tranche of 0.625% of Capital Conservation Buffer (CCB)
from March 31, 2019 to March 31, 2020. As on 31.12.2019,
Banks should maintain CCB of 1.875%.

203
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204
Capital Conservation Buffer is designed to ensure that banks
build up capital buffers during normal times (i.e. outside periods
of stress) which can be drawn down as losses are incurred
during a stressed period. The bank is under stress and hence,
was not able to maintain the CCB in total CRAR of the Bank
as stipulated by RBI. However, Bank has maintained the CET1
percentage with CCB as on 31.03.2019.
The Bank has put in place a policy on Internal Capital Adequacy
Assessment Process (ICAAP) and the framework in consideration
of the relevant risk factors of the bank as a measure towards
adequacy of capital available to meet the residual risk as part of
Pillar 2 requirements of the revised framework commensurate
with the bank’s overall risk profile. In framing the policy, the
bank has taken into consideration the requirements prescribed
by the RBI in their guidelines and bank’s risk appetite.
As part of Basel III framework RBI has introduced Leverage Ratio
concept. The leverage ratio is the ratio of Tier-1 capital (Common
Equity + Additional Tier I) and total exposure (as defined under
Basel III). The leverage ratio has to be maintained on a quarterly
basis. Presently, RBI has not stipulated any minimum leverage
ratio. It has advised Banks to do parallel run and calculate the
ratio for the purpose of disclosures only. Till final guidelines are
issued, Reserve Bank will monitor individual banks against an
indicative leverage ratio of 4.5%.
RBI has issued guidelines on two minimum standards Viz.
Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio
(NSFR) for funding liquidity. The LCR promotes short term
resilience of banks to potential liquidity disruptions by ensuring
that bank have sufficient high quality liquid assets (HQLA) to
survive an acute stress scenario lasting for 30 days. With a view
to providing transition time for banks, the requirement would
be minimum of 60% for the calendar year 2015 i.e with effect
from January 1, 2015 and rise in equal measure to reach the
minimum required level of 100% on January 1, 2019 as per the
time line given below:

January 1, 2015 January 1,2016 January 1,2017 January 1,2018 January 1,2019
Minimum LCR 60% 70% 80% 90% 100%
LCR for the bank as on 31.03.2019 stood at 387.13% which is well above the RBI stipulated level of 100% for the current calendar
year. Bank is having enough liquidity to meet sudden cash outflows.
RBI vide circular No. DBR.BP.BC.No.8/21.04.098/2018-19 of 29.11.2018 has issued final guidelines on implementation of NSFR
(Net Stable Funding Ratio). As per the circular, the NSFR guidelines will come into effect from April 1, 2020. The above ratio should
be equal to at least 100% on an ongoing basis. Bank is in readiness to comply with the NSFR guidelines.
(Rs. in crore)
As on 31.03.2019
Quantitative disclosures:

a) Capital requirements for credit risk

‡ Portfolios subject to standardized approach 8537.61
‡ Securitization exposures 0.00
b) Capital requirements for market risk:
‡ Standardized duration approach
- Interest rate risk 396.81
- Foreign Exchange risk (including gold)
5.41
- Equity risk
553.31
c) Capital requirements for operational risk
‡ %DVLFLQGLFDWRUDSSURDFK 1262.29
‡ 7KH6WDQGDUGL]HG$SSURDFK --
d) Total and Tier 1 capital ratio: (in
For the top consolidated group; and Percentage)

Total Capital Ratio (CRAR)

‡ Total CRAR (Subject to application of Prudential Floor) 10.21%
‡ Total Tier I Capital Ratio (Tier I CRAR) 10.21%
‡ Common Equity Tier-I Capital Ratio 7.85%
‡ 7.82%

205
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206
Table DF-3: CREDIT RISK: GENERAL DISCLOSURES FOR
ALL BANKS
Qualitative disclosures:
Credit Risk is the possibility of losses associated with diminution
in the credit quality of borrowers or counter parties. In a Bank’s
portfolio, Credit Risk arises mostly from lending and investment
activities of the Bank if a borrower / counterparty is unable to
meet its financial obligations to the lender/investor. It emanates
from changes in the credit quality/worthiness of the borrowers
or counter parties. Credit risk also includes counterparty risk
and country risk.
Credit rating and Appraisal Process:
The Bank manages its credit risk through continuous measuring
and monitoring of risks at obligor (borrower) and portfolio level.
The Bank has a robust internal credit rating framework and well-
established standardized credit appraisal / approval process.
Credit rating is a facilitating process that enables the bank to
assess the inherent merits and demerits of a proposal. It is a
decision enabling tool that helps the bank to take a view on
acceptability or otherwise of any credit proposal.
The rating models factor quantitative and qualitative attributes
relating to Risk components such as Industry Risk, Business
Risk, Management Risk, Financial Risk, Project risk (where
applicable) and Facility Risk etc. The data on industry risk is
regularly updated and supported by CRISIL, based on market
conditions.
Bank has implemented “Retail Scoring Models” for Pushpaka
(Vehicle Loan), Clean Loan and Housing loan irrespective of the
amount w.e.f 02.01.2017. Bank has developed in-house scoring
model for rating Small MSME borrowers requesting for loans
upto Rs.10 lacs.
Quantitative Disclosures:
a) Total gross credit risk exposures:
Fund based
Non fund based
Total
b) Geographic distribution of exposures,
Domestic
Fund based
Non Fund based
Overseas
Fund based
Non Fund based
c) Industry type distribution of exposures, fund based and non-fund based separately
d) Residual contractual maturity breakdown of assets
e) Amount of NPAs (Gross)
Substandard
 Doubtful (D1, D2, D3)
 Loss
207
The bank follows a well-defined multi layered discretionary
power structure for sanction of loans and advances. Approval
Committees have been constituted at all levels covering
Exceptionally Large branch / RO / CO for recommending fresh/
enhancement proposal to appropriate sanctioning authorities.
Specific Sanctioning Powers have been delegated to Branch
Managers.
Credit Risk Management Policies:
The bank has put in place a well-structured loan policy and
credit risk management policy duly approved by Board. The
policy document defines organizational structure, role and
responsibilities and processes whereby the Credit Risk carried
by the Bank can be identified, quantified and managed within the
framework that the Bank considers consistent with its mandate
and risk tolerance. Credit risk is monitored by the bank on a
bank-wide basis and compliance with the risk limits approved
by Board / RMCB is ensured. The Credit Risk Management
Committee (CRMC) takes into account the risk tolerance level of
the Bank and accordingly handles the issues relating to Safety,
Liquidity, Prudential Norms and Exposure limits.
The bank has taken earnest steps to put in place best credit
risk management practices in the bank. In addition to Loan
Policy and Credit Risk Management Policy, the bank has also
framed Interest Rate Policy on Advances, Funds and Investment
Policy, Counter Party Risk Management Policy and Country Risk
Management Policy etc., which forms integral part of monitoring
of credit risk in the bank. Besides, the bank has implemented
a policy on collateral management and credit risk mitigation
which lays down the details of securities (both prime and
collateral) normally accepted by the Bank and administration
of such securities to protect the interest of the bank. Presently,
some select securities act as mitigation against credit risk (in
capital computation), to which the bank is exposed.
(Rs. in crore)
31.03.2019
218003.54
15470.23
233473.77
146000.54
16510.77
5995.81
1476.90
Annexed
Annexed
33398.12
4306.69
27936.38
1155.05
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208
f) Net NPAs 14368.30
g) NPA Ratios
 Gross NPAs to gross advances 21.97%
Net NPAs to net advances 10.81%
h) Movement of NPAs (Gross)
Opening balance (01.04.2018) 38180.15
Additions 8844.54
Reductions 13626.57
Closing balance (31.03.2019) 33398.12
i) Movement of provisions for NPAs
 Opening balance (01.04.2018) 17333.78
Provisions made during the period 9881.25
Write off / Write back of excess provisions 8567.80
Closing balance (31.03.2019) 18647.23
j) Amount of Non Performing Investments (Book Value) 1918.03
k) Amount of provisions held for non-performing investments 1509.73
l) Movement of provisions for depreciation on investments
 Opening Balance (01.04.2018) 1607.89
  Provisions made during the period 668.94
 Write-off 8.52
Write-back of excess provisions 0
 Closing Balance (31.03.2019) 2268.31
Residual Maturity break down of Assets (Domestic)
(Rs. in crore)
Particulars Amount
Day 1 8173.83
2 Days – 7 Days 18242.06
8 Days – 14 Days 4094.25
15 Days – 30 Days 4560.85
31 Days – 2 Months 11582.00
2 Months – 3 Months 13417.35
3 Months – 6 Months 22689.25
>6 Months – 12 Months 40332.27
>1 Year – 3 Years 32378.35
>3 Years – 5 Years 13005.86
> 5 Years 76259.66
INDUSTRY WISE EXPOSURES
(Rs. in crore)
Industry Name Outstanding
as on
31.03.2019
Mining and quarrying 3,464.65
Food Processing 880.61
Of which Sugar 55.57

209
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210
 Industry Name Outstanding
as on
31.03.2019
Of which Edible Oils and Vanaspati 376.96
Of which Tea 0.52
Beverages and Tobacco 147.34
Cotton Textiles 2,128.59
Jute Textiles 1.32
Handicraft/ Khadi (Non Priority) 124.35
Other Textiles 124.35
Leather and Leather Products 533.55
Wood and Wood Products 625.77
Paper and Paper Products 939.78
Petroleum (non-infra), Coal Products (non-mining) and Nuclear Fuels 840.81
Chemicals and Chemical Products (Dyes, Paints, etc.,) 2,136.03
Of which Fertilisers 108.04
Of Which Drugs and Pharmaceuticals 630.54
Of which Others 1,397.45
Rubber, Plastic and their products 978.64
Glass & Glassware 145.45
Cement and Cement Products 774.87
Iron and Steel 8,519.48
Other Metal and Metal Products 1,507.19
All Engineering 4,303.89
Of which Electronics 1,186.11
Vehicles, Vehicle Parts and Transport Equipments 2,030.21
Gems and Jewellery 1,313.87
Construction 1,073.11
Infrastructure 19,717.17
Of which Roadways 9,164.89
Of which Energy 10,048.30
Of which Telecommunications 503.98
Other Industries 3,584.36
Residuary Other Advances 96,100.96
Of which Aviation Sector 958.81
Total Loans and Advances 151,996.35

Table DF-4: CREDIT RISK: DISCLOSURES FOR PORTFOLIOS
SUBJECT TO THE STANDARDISED APPROACH
Qualitative disclosures:
General Principle:
In accordance with the RBI guidelines, the Bank has adopted
New Capital Adequacy Framework for computation of capital
for credit risk. In computation of capital, the bank has assigned
risk weight to different asset classes as prescribed by the RBI
from time to time.
External Credit Ratings:
Rating of borrowers by External Credit Rating Agencies (ECRAs)
assumes importance in the light of Guidelines for implementation
of the Basel II Capital Adequacy Framework. Exposures on
Corporates / Public Sector Enterprises/ Primary Dealers are
assigned with risk weights based on available external ratings.
For this purpose, the Reserve Bank of India has permitted Banks
to use the ratings of seven domestic ECRAs viz. Credit Analysis
and Research Ltd (CARE), CRISIL Ltd, India Ratings (formerly
known as FITCH India), ICRA Ltd, Brickworks Rating Services
India Ltd., Acuite Rating and Research (erstwhile SMERA) and
INFOMERICS Valuation and Rating Pvt. Ltd. (INFOMERICS).

211
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212
In consideration of the above, the Bank has decided to accept
the ratings assigned by all these ECRAs for capital relief purpose.
The RBI has provided for mapping public issue ratings on to
comparable assets into banking book. However, this particular
provision has not been taken into account in Credit Risk Capital
Computation.
The bank uses only solicited external ratings for capital
computation purpose. External ratings assigned fresh or
reviewed during the previous 15 months are reckoned for
capital computation by the bank.
For the purpose of capital computation of overseas exposures,
ratings assigned by the international rating agencies namely
Fitch, Moody’s and Standard & Poor’s are used as per RBI
guidelines.
Internal Credit Rating:
The bank has a well structured internal credit rating mechanism
to evaluate the credit risk associated with a borrower. Bank has
Quantitative disclosures:
put in place a Risk Assessment Model (RAM) to rate accounts
under various segments. The RAM model was updated in June-
18 to incorporate the best risk management practices. Further,
Bank procured 7 more models for appropriate assessment
of borrower risk. Rating has been made compulsory based
on the Audited Balance sheet of the Borrower. Bank has also
introduced the concept of “Dynamic Rating, which is based
on certain triggers. Realizing the focus on Retail, Agriculture
and MSME (RAM) growth as strategy, Bank introduced Retail
Scoring Model on 01.01.2017 and integrated with on-line loan
processing. The rating validation is independent of credit
departments.
Based on the internal ratings, credit decisions are taken as
regards the acceptability of proposals and level of exposures
and pricing. The bank has prescribed entry level rating in case
of new accounts. Accounts with ratings below the prescribed
rating entry level can be considered only by higher authorities
as per the delegated powers prescribed.
(Rs. in crore)

Classification Exposure after Mitigation EAM covered under Unrated

(EAM) External Rating
ADVANCES / INVESTMENT
Below 100% risk weight 104024.49 19517.52 84506.97
100% risk weight 40106.96 8257.08 31849.88
More than 100% risk weight 14507.48 6480.54 8026.94
Deducted 0 0 0
TOTAL 158638.93 34255.14 124383.79
OTHER ASSETS
Below 100% risk weight 24183.81 2798.98 21384.83
100% risk weight 2223.72 0 2223.72
More than 100% risk weight 1.10 0 1.10
Deducted 0 0 0
TOTAL 26408.62 2798.98 23609.64

Table DF – 5: CREDIT RISK MITIGATION: DISCLOSURES (b) On Balance Sheet Nettings:

FOR STANDARDISED APPROACHES
Qualitative disclosures:
Policy on Credit Risk Mitigation:
In line with the regulatory requirements, the bank has put in place
a well-articulated policy on collateral management and credit
risk mitigation techniques duly approved by the bank’s Board.
The Policy lays down the type of securities normally accepted
by the bank for lending and administration/ monitoring of such
securities in order to safeguard /protect the interest of the bank
so as to minimize the risk associated with it.
Credit Risk Mitigation under Standardized Approach:
(a) Eligible Financial Collaterals:
As advised by RBI, the Bank has adopted the comprehensive
approach relating to credit risk mitigation under Standardised
Approach, which allows fuller offset of securities (prime and
collateral) against exposures, by effectively reducing the
exposure amount by the value ascribed to the securities. Thus
the eligible financial collaterals are fully made use of to reduce
the credit exposure in computation of credit risk capital.
As per Bank’s policy on utilization of the credit risk mitigation
techniques and collateral management, on–balance sheet
netting has been reckoned to the extent of deposits available
against loans/advances of the borrower (maximum to the
extent of exposure), where bank has legally enforceable netting
arrangements involving specific lien with proof of documentation
as prescribed by RBI. In such cases, the capital computation is
done on the basis of net credit exposure.
(c) Eligible Guarantees:
Other approved form of credit risk mitigation is availability of
“Eligible Guarantees”. In computation of credit risk capital,
types of guarantees recognized as mitigation, in line with
RBI guidelines are (a) Central Government (0%) (b) State
Government (20%), (c) CGTMSE (0%) (d) ECGC (20%) (e)
Banks in the form of Bills Purchased/discounted under Letters
of Credit (both domestic and foreign banks as per guidelines).
The bank has ensured compliance of legal certainty as
prescribed by the RBI in the matter of credit risk mitigation.

213
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214
Concentration risk in credit risk mitigation: for mitigation are easily realizable financial securities. As such,
Policies and process are in place indicating the type of mitigants the bank doesn’t envisage any concentration risk in credit
the bank uses for capital computation under the Standardised risk mitigation used and presently no limit/ceiling has been
approach. All types of securities (financial collaterals) eligible prescribed for the quantum of each type of collateral under
credit risk mitigation.
Quantitative Disclosures
(Rs. in crore)
Particulars Amount
For each separately disclosed credit risk portfolio, the total exposure (after, where applicable, on or off 27781.02
balance sheet netting) that is covered by Eligible financial collaterals after the application of haircuts
Domestic Sovereign 0.00
Foreign Sovereign 0.00
Public Sector Enterprises 471.88
Banks-Schedule (INR) 0.00
Foreign Bank denominated in FCY 0.00
Primary Dealers (PD) 0.00
Corporates 4341.50
Regulatory Retail Portfolio (RRP) 15545.97
Secured by Residential Property 60.35
Secured by Commercial Property 132.39
Consumer Credit 3657.46
Capital Market Exposure 3.64
NBFC ND 2.26
Venture Capital 0.00
N.P.A. housing loan 0.03
N.P.A. Others Loan 210.52
Staff Loans 17.71
Other Assets 3336.90
Restructured / Rescheduled Accounts 0.00
Claims secured by Commercial Property - RH 0.41
Restructured Housing Loan 0.00
For each separately disclosed credit risk portfolio the total exposure (after, where applicable, on or 7675.69
off balance sheet netting) that is covered by Guarantees/ credit derivatives (whenever specifically
permitted by RBI).
Public Sector Enterprises 4661.44
Corporates 590.85
Regulatory Retail Portfolio (RRP) 2423.32
Restructured / Rescheduled Accounts 0.00
CRE 0.08
CRE-RH 0.00

215
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216
Table DF 6: SECURITISATION: DISCLOSURE FOR
STANDARDISED APPROACH
No Securitization for the year ended 31.03.2019
Table DF – 7 : MARKET RISK IN TRADING BOOK
Qualitative disclosure:
Market Risk:
Market Risk is defined as the possibility of loss to a bank in on
& off-balance sheet position caused by changes/movements in
market variables such as interest rate, foreign currency exchange
rate, equity prices and commodity prices. Bank’s exposure to
market risk arises from domestic investments (interest related
instruments and equities) in trading book (Both AFS and
HFT categories), the Foreign Exchange positions (including
open position, if any, in precious metals) and trading related
derivatives. The objective of the market risk management is to
minimize the impact of losses on earnings and equity capital
arising from market risk.
Policies for management of market risk:
The bank has put in place Board approved Market Risk
Management Policy and Asset Liability Management (ALM)
policy for effective management of market risk in the bank.
Other policies which deal with market risk management are
Funds Management and Investment Policy, Derivative Policy,
Risk Management Policy for forex operations and Stress testing
policy. The market risk management policy lays down well
defined organization structure for market risk management
functions and processes whereby the market risks carried by the
bank are identified, measured, monitored and controlled within
the ALM framework, consistent with the Bank’s risk tolerance.
The policies set various risk limits for effective management
of market risk and ensuring that the operations are in line with
Bank’s expectation of return to market risk through proper Asset
Liability Management. The policies also deal with the reporting
framework for effective monitoring of market risk.
The ALM policy specifically deals with liquidity risk management
and interest rate risk management framework. As envisaged
in the policy, liquidity risk is managed through GAP analysis
based on residual maturity/behavioral pattern of assets and
liabilities on daily basis based on best available information
data coverage as prescribed by RBI. The liquidity risk through
Structural Liquidity statement was hitherto reported to RBI for
domestic operation while the same was managed separately at
each overseas center and placed to ALCO for control purpose
in the past. However as per RBI guidelines from March 2013
the liquidity risk is computed and submitted to RBI in rupee and
foreign currency for domestic operations, overseas centers and
consolidated for Bank operations at various frequencies.
The bank has put in place mechanism of short-term dynamic
liquidity management and contingent funding plan. Prudential
(tolerance) limits are prescribed by RBI for the first four buckets
and by Bank’s Board for different residual maturity time buckets
for efficient asset liability management. Liquidity profile of the
bank is evaluated through various liquidity ratios. The bank has
also drawn various contingent measures to deal with any kind
of stress on liquidity position. Bank ensures adequate liquidity
management by Domestic Treasury through systematic and
stable funds planning.
217
Interest rate risk is managed through use of GAP analysis of rate
sensitive assets and liabilities and monitored through prudential
(tolerance) limits prescribed. The bank estimates earnings
at risk for domestic operations and modified duration gap for
global operations periodically for assessing the impact on Net
Interest Income and Economic Value of Equity with a view to
optimize shareholder value.
The Asset-Liability Management Committee (ALCO) / Board
monitors adherence to prudential limits fixed by the Bank and
determines the strategy in the light of the market conditions
(current and expected) as articulated in the ALM policy. The
mid-office monitors adherence to the prudential limits on a
continuous basis.
As interest rate movements are volatile, particularly on deposits
of Rs. 2 Crore and above, there is a need to take views on
quoting competitive rates to such deposits on daily basis. A
subcommittee of ALCO, namely Funds Committee, shall meet
daily at the beginning of business hours for this purpose. The
committee shall review the present & projected liquidity position
of the bank, requirement for immediate payment of funds,
market trend regarding deployment opportunities available,
impact on un-hedged forex exposure etc
Quantitative disclosures:
In line with the RBI’s guidelines, the Bank has computed capital
for market risk as per Standardised Duration Approach of Basel-
II framework for maintaining capital. The capital requirement for
market risk as on 31.03.2019 in trading book of the bank is as
under:
(Rs. in crore)
Type of Market Risk Risk Weighted Capital
Asset (Notional) Requirement
Interest rate risk 4960.11 396.81
Equity position risk 6916.36 553.31
Foreign exchange risk 67.67 5.41
TOTAL 11944.14 955.53
Table DF – 8: OPERATIONAL RISK:
Qualitative disclosures:
Operational Risk is the risk of loss resulting from inadequate or
failed internal processes, people and systems or from external
events. Operational risk includes legal risk but excludes strategic
and reputation risk.
The bank has framed operational risk management policy
duly approved by the Board. Other policies adopted by the
Board which deal with management of operational risk are (a)
Information Systems security policy (b) Cyber Security Policy
(c) forex risk management policy (d) Policy document on
know your customer (KYC) and Anti-Money Laundering (AML)
procedures (e) Business Continuity and Disaster Recovery Plan
(BC-DRP) (f) compliance policy and (g) policy on outsourcing
of Financial Services.
The Bank has got embodied in its Book of Instructions well-
defined systems and procedures for various operations. Various
internal and external audit systems are in place to ensure that
laid down systems and procedures are followed and timely
actions are initiated for rectifying the deficiencies.
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218
In line with the final guidelines issued by RBI, our bank is Net Interest Margin. Similarly, the risk from economic value
adopting the Basic Indicator Approach for computing capital perspective can be measured as drop in Economic Value of
for operational risk. As per the guidelines the banks must hold Equity.
capital for operational risk equal to 15% of positive average
annual gross income over the previous three years as defined The bank has adopted traditional gap analysis combined with
by RBI. duration gap analysis for assessing the impact (as a percentage)
on the Economic Value of Equity (Economic Value Perspective)
Quantitative disclosures:
(Rs. in Crore) on global operations by applying a notional interest rate shock
of 200 bps over a time horizon of one year. For the purpose a
Parameter Capital Notional limit of (+/-) 1.00% for modified duration gap is prescribed in the
amount Risk Bank’s ALM policy and the position is monitored periodically.
Weighted
Assets The bank is computing the interest rate risk position in each
15% of positive average annual 1262.29 15778.67 currency applying the Duration Gap Analysis (DGA) and
gross income over the previous 3 Traditional Gap Analysis (TGA) to the Rate Sensitive Assets
years as defined by RBI (RSA)/ Rate Sensitive Liabilities (RSL) items in that currency,
where either the assets, or liabilities are 5 per cent or more of
Table DF – 9: INTEREST RATE RISK ON THE BANKING
BOOK (IRRBB) the total of either the bank’s global assets or global liabilities.
The interest rate risk positions in all other residual currencies
Qualitative disclosures:
are computed separately on an aggregate basis.
Interest rate risk is the risk where changes in the market interest
Quantitative disclosures:
rates might affect a bank’s financial condition. Changes in
interest rates may affect both the current earnings (earnings The impact of changes of Net Interest Income (NII) and
perspective) as also the net worth of the Bank (economic Economic Value of Equity (EVE) calculated as on 31.03.2019
value perspective). The risk from earnings perspective can by applying notional interest rate shocks as discussed above
be measured as impact on the Net Interest Income (NII) or are as under

(Rs. in crore)

Change in Interest Rate ALM Policy Limit for EaR Earnings at Risk (EaR) 31.03.2019

Up to 1 year Up to 5 years

0.25% change 162

102.23 103.91
(3% of NII of previous year)

0.50% change 323

204.46 207.87
(6% of NII of previous year)

0.75% change 485

306.7 311.74
(9% of NII of previous year)

1.00% change 646

408.93 415.65
(12% of NII of previous year)

2.00% change 1292

817.86 831.31
(24% of NII of Previous year)

ECONOMIC VALUE OF EQUITY 31.03.2019

Modified Duration Gap (DGAP) 0.08

Limit as per ALM Policy (+/-)1.00%

Market value of Equity (MVE)

For a 200 BPS Rate Shock the Drop in Equity -4.72%

Value

219
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 ÅÆ®ÅÅƘŠÅşÅiÅl¶ÅŸÅÅ ÅÅÓwŘŶÅÓ›ÅЮť¶ÅşÅŘ Åe¥ÅÆiÅm®Å}ÅÊÅÆ} Å¢,›ÅÐÄwÅÅÊ  
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7 ÅƮŮÅÓiÅl›ÅЇťŸÅЬ ÅÅÄiÅl˜Å¶ÅŸÅÅ ÅÅÓwŘŠ 
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220
Table DF – 10: GENERAL DISCLOSURE FOR EXPOSURES RELATED TO COUNTERPARTY CREDIT RISK

Qualitative Disclosures
Quantitative
Disclosures
Quantitative Disclosure
(a) The general qualitative disclosure requirement with respect to derivatives and CCR, including:
  Discussion of methodology used to assign economic capital and credit limits for counter
party credit exposures
  Discussion of policies for securing collateral and establishing credit reserves
  Discussion of policies with respect to wrong way risk exposures
  Discussion on impact of the amount of collateral the bank would have to provide given
a credit rating downgrade
(b) Gross positive fair value of contracts, netting benefits, netted current credit exposures, collateral
held (including type, e.g. cash, government securities, etc.), and net derivatives credit exposure.
Also report measures for exposure at default, or exposure amount, under CEM. The notional
value of credit exposure hedges, and the distribution of current credit exposure by types of credit
exposure.
(c) Credit derivative transactions that create exposures to CCR (notional value), segregated between
use for the institution’s own credit portfolio, as well as in its intermediation activities, including
the distribution of the credit derivatives products used, broken down further by protection bought
and sold within each product group.
(Rs. in Crore)

No Particulars Notional Amount MTM Total current credit

exposures
1 Derivatives 0.00 0.00 0.00
2 Interest Rates Contracts/Swaps 1735.76 27.97 27.97
3 Forward Purchase / Sales 31266.22 481.92 481.92
Contract
4 Credit Derivatives 0.00 0.00 0.00
5 Credit Default Swaps 0.00 0.00 0.00
Table DF – 11: COMPOSITION OF CAPITAL
Part I : Template to be used only from September 30,2018 : Not Applicable
Part II : Template to be used before September 30,2018 ( i.e. during the transition period of Basel III regulatory adjustment)
(Rs. in crore)

Common Equity Tier 1 capital: instruments and reserves Amounts Subject to

Pre-Basel III Treatment
1 Directly issued qualifying common share capital plus related stock surplus (share premium) 15143.31 15143.31
2 Retained earnings 7835.72 7835.72
3 Accumulated other comprehensive income (and other reserves) 1923.46 1923.46
4 Directly issued capital subject to phase out from CET1 (only applicable to non-joint stock 0.00 0.00
companies1)
5 Common share capital issued by subsidiaries and held by third parties (amount allowed in group 0.00 0.00
CET1)
6 Common Equity Tier 1 capital before regulatory adjustments 24902.49 24902.49
Common Equity Tier 1 capital: regulatory adjustments
7 Prudential valuation adjustments 0.00 0.00
8 Goodwill (net of related tax liability) 0.00 0.00
9 Intangibles (net of related tax liability) 10275.72 10275.72
10 Deferred tax assets 0.00 0.00

221
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222
Common Equity Tier 1 capital: instruments and reserves Amounts Subject to
Pre-Basel III Treatment
11 Cash-flow hedge reserve 0.00 0.00
12 Shortfall of provisions to expected losses 0.00 0.00
13 Securitisation gain on sale 0.00 0.00
14 Gains and losses due to changes in own credit risk on fair valued liabilities 0.00 0.00
15 Defined-benefit pension fund net assets 0.00 0.00
16 Investments in own shares (if not already netted off paid-up capital on reported balance sheet) 0.00 0.00
17 Reciprocal cross-holdings in common equity 22.91 0.00
18 Investments in the capital of banking, financial and insurance entities that are outside the scope 0.00 0.00
of regulatory consolidation, net of eligible short positions, where the bank does not own more
than 10% of the issued share capital (amount above 10% threshold)
19 Significant investments in the common stock of banking, financial and insurance entities that are 0.00 0.00
outside the scope of regulatory consolidation, net of eligible short positions (amount above 10%
threshold)3
20 Mortgage servicing rights (amount above 10% threshold) 0.00 0.00
21 Deferred tax assets arising from temporary differences (amount above 10% threshold, net of 5017.56 5017.56
related tax liability)
22 Amount exceeding the 15% threshold 0.00 0.00
23 of which: significant investments in the common stock of financial entities 0.00 0.00
24 of which: mortgage servicing rights 0.00 0.00
25 of which: deferred tax assets arising from temporary differences 0.00 0.00
26 National specific regulatory adjustments7 (26a+26b+26c+26d) 0.00 0.00
26a of which: Investments in the equity capital of unconsolidated insurance subsidiaries 0.00 0.00
26b of which: Investments in the equity capital of unconsolidated non-financial subsidiaries8 0.00 0.00
26c of which: Shortfall in the equity capital of majority owned financial entities which have not been 0.00 0.00
consolidated with the bank
26d of which: Unamortised pension funds expenditures 0.00 0.00
Regulatory Adjustments Applied to Common Equity Tier 1 in respect of Amounts Subject to Pre- 0.00 0.00
Basel III Treatment
27 Regulatory adjustments applied to Common Equity Tier 1 due to insufficient Additional Tier 1 and 0.00 0.00
Tier 2 to cover deductions
28 Total regulatory adjustments to Common equity Tier 1 15316.19 15293.28
29 Common Equity Tier 1 capital (CET1) 9586.31 9609.22
Additional Tier 1 capital: instruments
30 Directly issued qualifying Additional Tier 1 instruments plus related stock surplus (share premium) 90.00 780.00
(31+32)
31 of which: classified as equity under applicable accounting standards (Perpetual Non-Cumulative 0.00 0.00
Preference Shares)
32 of which: classified as liabilities under applicable accounting standards (Perpetual debt 90.00 780.00
Instruments)
33 Directly issued capital instruments subject to phase out from Additional Tier 1 0.00 0.00
34 Additional Tier 1 instruments (and CET1 instruments not included in row 5) issued by subsidiaries 0.00 0.00
and held by third parties (amount allowed in group AT1)
35 of which: instruments issued by subsidiaries subject to phase out 0.00 0.00
36 Additional Tier 1 capital before regulatory adjustments 90.00 780.00

223
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224
Common Equity Tier 1 capital: instruments and reserves Amounts Subject to
Pre-Basel III Treatment
Additional Tier 1 capital: regulatory adjustments
37 Investments in own Additional Tier 1 instruments 50.00 50.00
38 Reciprocal cross-holdings in Additional Tier 1 instruments 0.00 0.00
39 Investments in the capital of banking, financial and insurance entities that are outside the scope 0.00 0.00
of regulatory consolidation, net of eligible short positions, where the bank does not own more
than 10% of the issued common share capital of the entity (amount above 10% threshold)
40 Significant investments in the capital of banking, financial and insurance entities that are outside 0.00 0.00
the scope of regulatory consolidation (net of eligible short positions)
41 National specific regulatory adjustments (41a+41b) 0.00 0.00
41a Investments in the Additional Tier 1 capital of unconsolidated insurance subsidiaries 0.00 0.00
41b Shortfall in the Additional Tier 1 capital of majority owned financial entities which have not been 0.00 0.00
consolidated with the bank
42 Regulatory adjustments applied to Additional Tier 1 due to insufficient Tier 2 to cover deductions
43 Total regulatory adjustments to Additional Tier 1 capital 50.00 50.00
44 Additional Tier 1 capital (AT1) 40.00 730.00
45 Tier 1 capital (T1 = CET1 + Admissible AT1) (29 + 44) 9626.31 10339.22
Tier 2 capital: instruments and provisions
46 Directly issued qualifying Tier 2 instruments plus related stock surplus 200.00 200.00
47 Directly issued capital instruments subject to phase out from Tier 2 1543.10 300.00
48 Tier 2 instruments (and CET1 and AT1 instruments not included in rows 5 or 34) issued by 0.00 0.00
subsidiaries and held by third parties (amount allowed in group Tier 2)
49 of which: instruments issued by subsidiaries subject to phase out 0.00 0.00
50 Provisions 1146.16 1146.16
51 Tier 2 capital before regulatory adjustments 2889.26 1646.16
Tier 2 capital: regulatory adjustments
52 Investments in own Tier 2 instruments 0.00 0.00
53 Reciprocal cross-holdings in Tier 2 instruments 0.00 0.00
54 Investments in the capital of banking, financial and insurance entities that are outside the scope 0.00 0.00
of regulatory consolidation, net of eligible short positions, where the bank does not own more
than 10% of the issued common share capital of the entity (amount above the 10% threshold)
55 Significant investments13 in the capital banking, financial and insurance entities that are outside 0.00 0.00
the scope of regulatory consolidation (net of eligible short positions)
56 National specific regulatory adjustments (56a+56b) 0.00 0.00
56a of which: Investments in the Tier 2 capital of unconsolidated subsidiaries 0.00 0.00
56b of which: Shortfall in the Tier 2 capital of majority owned financial entities which have not been 0.00 0.00
consolidated with the bank
57 Total regulatory adjustments to Tier 2 capital 0.00 0.00
58 Tier 2 capital (T2) 2889.26 1646.16
59 Total capital (TC = T1 + T2) (45 + 58) 12515.56 11985.37
60 Total risk weighted assets (60a + 60b + 60c) 122585.17
60a of which: total credit risk weighted assets 94862.36

225
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226
Common Equity Tier 1 capital: instruments and reserves Amounts Subject to
Pre-Basel III Treatment
60b of which: total market risk weighted assets 11944.14

60c of which: total operational risk weighted assets 15778.67

Capital ratios

61 Common Equity Tier 1 (as a percentage of risk weighted assets) 7.82%

62 Tier 1 (as a percentage of risk weighted assets) 7.85%

63 Total capital (as a percentage of risk weighted assets) 10.21%

64 Institution specific buffer requirement (minimum CET1 requirement plus capital conservation and 7.375%
countercyclical buffer requirements, expressed as a percentage of risk weighted assets)

65 of which: capital conservation buffer requirement 0

66 of which: bank specific countercyclical buffer requirement 0

67 of which: G-SIB buffer requirement 0

68 Common Equity Tier 1 available to meet buffers (as a percentage of risk weighted assets) 0.45%

National minima (if different from Basel III)

69 National Common Equity Tier 1 minimum ratio (if different from Basel III minimum) 5.50%

70 National Tier 1 minimum ratio (if different from Basel III minimum) 7.00%

71 National total capital minimum ratio (if different from Basel III minimum) 9.00%

Amounts below the thresholds for deduction (before risk weighting)

72 Non-significant investments in the capital of other financial entities 0.00

73 Significant investments in the common stock of financial entities 0.00

74 Mortgage servicing rights (net of related tax liability) 0.00

75 Deferred tax assets arising from temporary differences (net of related tax liability) 0.00

Applicable caps on the inclusion of provisions in Tier 2

76 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to standardised approach 1146.16
(prior to application of cap)

77 Cap on inclusion of provisions in Tier 2 under standardised approach 1532.31

78 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to internal ratings-based NA
approach (prior to application of cap)

79 Cap for inclusion of provisions in Tier 2 under internal ratings-based approach NA

Capital instruments subject to phase-out arrangements (only applicable between March 31, 2017 and March 31, 2022)

80 Current cap on CET1 instruments subject to phase out arrangements 0

81 Amount excluded from CET1 due to cap (excess over cap after redemptions and maturities) 0

82 Current cap on AT1 instruments subject to phase out arrangements 150

83 Amount excluded from AT1 due to cap (excess over cap after redemptions and maturities) 690.00

84 Current cap on T2 instruments subject to phase out arrangements 1543.10

85 Amount excluded from T2 due to cap (excess over cap after redemptions and maturities) 733.90

227
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228
Notes to the Template
Rs. (in crore)

Row No. Particular Amount

of the
template
10 Deferred tax assets associated with accumulated losses 0
Deferred tax assets (excluding those associated with accumulated losses) net of Deferred tax liability 6455.70
Total as indicated in row 10 0.00
19 If investments in insurance subsidiaries are not deducted fully from capital and instead considered 0
under 10% threshold for deduction, the resultant increase in the capital of bank
of which: Increase in Common Equity Tier 1 capital 0
of which: Increase in Additional Tier 1 capital 0
of which: Increase in Tier 2 capital 0
26b If investments in the equity capital of unconsolidated non-financial subsidiaries are not deducted 0
and hence, risk weighted then:
(i) Increase in Common Equity Tier 1 capital 0
(ii) Increase in risk weighted assets 0
50 Eligible Provisions included in Tier 2 capital 1146.16
Eligible Revaluation Reserves included in Tier 2 capital 0.00
Total of row 50 1146.16
Table DF – 12
COMPOSITION OF CAPITAL-RECONCILIATION REQUIREMENTS
(Rs. in crore)

S. Particulars Balance Sheet Balance sheet

No. as in financial under regulatory
statements scope of
consolidation
As on 31.03.2019 As on 31.03.2019
A Capital & Liabilities
Paid up Capital 9141.65 9141.65
Reserves and Surplus 7218.23 7218.23
i
Minority Interest 0 0
Total Capital 16359.88 16359.88
Deposits 222534.08 222534.08
of which : Deposit from Banks 16.85 16.85
ii
of which : customer deposits 222517.23 222517.23
of which : Others 0 0
Borrowings 6146.04 6146.04
of which : From RBI 0.00 0.00
of which : From bank 1978.53 1978.53
iii
of which : from other institutional & agencies .50 .50
of which : Others(pl .Specify) 0.00 0.00
of which : Capital instruments 4167.00 4167.00
iv Other liabilities and provisions 4968.36 4968.36
Total 250008.36 250008.36

229
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230
S. Particulars Balance Sheet Balance sheet
No. as in financial under regulatory
statements scope of
consolidation
As on 31.03.2019 As on 31.03.2019
B Assets
Cash and Balances with Reserve Bank of India 10292.53 10292.53
i
Balance with bank and money at call and short notice 20598.97 20598.97
II Investments 66932.27 66932.27
of which: Government Securities 60976.15 60976.15
of which: Other approved securities 1.34 1.34
of Which :shares 897.03 897.03
of which : Debentures & Bonds 2178.16 2178.16
of which: Subsidiaries / joint Venture /Associates 193.44 193.44
of which : other (commercial Paper, Mutual Funds etc) 2686.15 2686.15
iii Loans and advances 132597.63 132597.63
of which : Loans and advances to banks 0 0
of which : Loans and advances to customers 132597.63 132597.63
iv Fixed assets 3336.90 3336.90
Other assets 16250.05 16250.05
v of which : Goodwill and intangible assets 0 0
of which : Deferred tax assets 6455.70 6455.70
vi Goodwill on consolidation 0 0
vii Debit balance in Profit & Loss account 0 0
Total 250008.36 250008.36
(Rs. in crore)
S. Extract of Basel III common disclosure template (with added column)-
No. Table DF-11 (Part I / Part II whichever, applicable)
Common Equity Tier 1 capital: instruments and reserve
Component of regulatory capital
reported by bank

1 Directly issued qualifying common share (and equivalent for non-joint stock 15143.31
companies) capital plus related stock surplus

2 Retained Earning 7835.72

3 Accumulated other comprehensive income (and other reserves) 1923.46

4 Directly issued capital subject to phase out from CET1 (only applicable to 0.00
non-joint stock companies)

5 Common share capital issued by subsidiaries and held by third parties 0.00
(amount allowed in group CET1)

6 Common Equity Tier 1 capital before regulatory adjustments 24902.49

7 Prudential valuation adjustment -

8 Goodwill(net of related tax liability) -

231
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 nÅňÅŮźÅÅÌiÅl¢‡Å ªñ¾ã¦ãã ªñ¾ã¦ãã

 wÅÅ¢ÅʸÅӘÅÓiÅlÅÊŸÅЬÅÅƈÅÅƋÅ  

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 ›Å Å¥®ÅÓÂÅÅÊiÅÓldŘÅΟÅÅӌ˜ÅiÅÓldŅÅÅʘÅwÅÅ¢ÅÊiÅlˆÅÅ¥iÅlÅÅƘŇť Å ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

 ®Å×iÅlÅƬ›ÅiÅlÝiÅlÅÓ¬ÅÅƈÅÅƋÅdÅÅiÅlÅƶŸÅiÅliÅlÅÛ¬ÅÅƈÅÅƋŠÅÅÄdÅÅ×¢ÅÆ¢ƒÓŸ›¯Å˜Å¢ÅÅƯÅ£iÅl¢ÅÓރÅÔŸÅÔ ¯ÅИ Å¯ÅИ Å ¯ÅИ Å¯ÅИ Å

 dÅźÅşÅÅÊiÅlÅÛ¬ÅÅƈÅÅƋŠÅÅÄ ÅÅƌ¬ÅźÅи׈ÅÅÓ ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

iÅÐl›Å˜Å¬ÅŞÅÅįÅ

 Åƶ‹Å¢ ÅÅ›Åm¬ÅÅÓÅÆ}ĺÅ¬ÅŞÅÅįÅiÅÐl›Å˜Å ãäÔ©ãÀ ãäÔ©ãÀ

 iÅÐl›Å˜ÅŒ¢dÅÅ×¢iÅlÅÓe¥žÅÅʶÅĜÅÄÅƅňŶÅÐÀÅiÅlÅÄiÅl iÅÐl›Å˜Å¢Ó} iÅÐl›Å˜Å¢Ó}

 ¬ÅŞÅÅįŶ}ÅۛŢiÅlÅdÅÅƶˆÅˆ®Å ˜Å¸ÅË ˜Å¸ÅË

 ›ÅТÅʈ޸¶ÅÓÅƮŮÅÓiÅl›ÅЇťdÅÅÄÅƯÅiÅl¤›Å¶ÅÓÅƮŮÅÓiÅlŅÅÅʘÅ ÅÅdÅÅƘŮÅŠť dÅÅƘŮÅŠť dÅÅƘŮÅŠť

 ÅÆ¢ƒÅʟÅiÅl¢˜ÅÓiÅÓlÅƬÅhiÅlŒŸÅfÅ˜ÅÓ ÅÅdŘ Å›Å¨Åӈ¶ÅŸ˜ÅiÅlÅÊŸÅÅ×wÅЌºÅÅÊ ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

232
Table DF-13 : MAIN FEATURES OF REGULATORY CAPITAL INSTRUMENTS
Disclosure template for main features of regulatory capital instruments

Sr. Particulars Lower Tier II Lower Tier II

No.
SERIES XIII SERIES XIV

1 Issuer PSU Bank PSU Bank

2 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for INE565A09181 INE565A09215
private placement

3 Governing law(s) of the instrument Chennai Chennai

Regulatory treatment

4 Transitional Basel III rules Tier II Tier II

5 Post-transitional Basel III rules ineligible ineligible

6 Eligible at solo/group/group @ solo Solo Solo

7 Instrument type Tier II debt instruments Tier II debt instruments

8 Amount recognised in regulatory capital (Rs. In Crore, as of most 0 200

recent reporting date)

9 Par value of instrument Rs.10.00 lakhs Rs.10.00 lakhs

10 Account classification Liability Liability

11 Original date of issuance 24.08.2009 31.12.2010

12 Perpetual or dated dated dated

13 Original maturity date 24.08.2019 31.12.2020

14 Issuer call subject to prior supervisory approval Not applicable Not applicable

15 Optional call date, contingent call dates and redemption amount nil, nil, 290 nil, nil, 1000
(Rs. in Crore)

16 Subsequent call dates, if applicable Not applicable Not applicable

Coupons / dividends

17 Fixed or floating dividend/coupon Fixed Fixed

18 Coupon rate and any related index Coupon rate Coupon rate

19 Existence of a dividend stopper No No

20 Fully discretionary, partially discretionary or mandatory Mandatory Mandatory

21 Existence of step up or other incentive to redeem Not available Not available

233
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  ÅÅƌ›ÅÅÆ¢®ÅˆÅ¥˜ÅÅÊ ÅdÅÅƘŮÅŠť ÅÅ®Å×iÅlÅƬ›ÅiÅl¤›ÅÅĈŢ‡Å ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

  ÅÅƌ›ÅÅÆ¢®ÅˆÅ¥˜ÅÅʠŸ׈ÅÅÓÅƬÅnňśŨiÅlÅ¢iÅlÅÓ›ÅÅÆ¢®ÅˆÅ¥˜ÅÅÊ ÅÅƘÅÅƌ¥µ}iÅl¢Ô ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

  ÅÅƌ ›ÅÅÆ¢®ÅˆÅ¥˜ÅÅÊ Å ¸× ˆÅÅÓ ÅƬÅnňÅ iÅÓl wÅÅ¢ÅÊiÅlˆÅÅ¥ iÅlÅÓ ÅƘÅÅƌ¥µ} iÅl¢Ô wÅÅÓ e¶ÅÓ ›ÅÅÆ¢®ÅÅƈťˆÅ ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË
iÅl¢ˆÅŸ×

 dŮŬÅÓnŘŶÅÎÅƮŅÅÅ ˜Å¸ÅË ˜Å¸ÅË

  ÅÅƌdŮŬÅÓnŘÅdŮŬÅÓnŘÅÅÆ}ªºÅ¢ ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

  ÅÅƌdŮŬÅÓnŘÅdÅÅÄÅƯÅiÅl ÅÅ›ÅЇť ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

  ÅÅƌdŮŬÅÓnŘŶ‹ÅÅe¥ ÅÅdŶ‹ÅÅe¥ ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

  ÅÅƌdŶ‹ÅÅe¥dŮŬÅÓnŘÅdÅŬÅÓnÅÅÆkÅl ÅÅÅÆ®ÅÅƅÅiÅlÅÅƮŮއÅ ¬ÅźÅИŸÅË ¬ÅźÅИŸÅË

 ›ÅÅÆ¢¶ÅŸÅśŘÅŸÅÔ dŅÅÅʘňÅśŌŘÅÎkÅlŸÅŸÅÔ Åƶ‹ÅÅƈÅÅƬÅnňÅiÅÓlˆÅ΢ĈÅœÅŌÅƬÅnňśŨiÅlÅ¢ dŘ Å¶ÅžÅÅʬÅӘŌŢÅÔdÅÅ×¢wşÅÅiÅlˆÅÅ¥dÅÅÔ dŘ Å¶ÅžÅÅʬÅӘŌŢÅÔdÅÅ×¢wşÅÅiÅlˆÅÅ¥dÅÅÔ

ÅƘÅÅƌ¥µ}iÅl¢Ô iÅÓlŒÅ®ÅÅÔiÅÓldŅÅÅʘŶ‹Å iÅÓlŒÅ®ÅÅÔiÅÓldŅÅÅʘŶ‹Å

 ºÅ×¢dŘÅΛÅŬŘŶÅÄkÅlŸÅ‡Å¶ÅÎÅƮŅÅÅdÅÅÔ ¸ÅÄ ¸ÅÄ

  ÅÅƌ¸ÅĈÅÅÓºÅ×¢dŘÅΤ›ÅÅƮůÅӵňÅÅhÄÅƘÅÅƌ¥µ}iÅl¢Ô œÅӶŬÅ ßßß iÅÓl dÅŅÅÅ¢ ›Å¢ iÅlÅÓe¥ ¸ÅÅƘÅ œÅӶŬÅ ßßß iÅÓl dÅŅÅÅ¢ ›Å¢ iÅlÅÓe¥ ¸ÅÅƘÅ
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}ӜŬŃÅÊh›ÅlÅÆ®ÅÅƘŠÅşÅiÅl›ÅÐÜwÅÅÊÅƬÅnňÅÅÔiÅlÅʛŨŸÅÎnÅÅƮůÅӵňÅÅhÄ
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 wÅÅ¢ÅÊiÅlˆÅÅ¥ ›ÅÅÊh¶Å ÅÐœÅØiÅl ›ÅÅÊh¶Å ÅÐœÅØiÅl
 ÅÆ®ÅÅƯŵ}›Å¸ÀÅŘÅiÅlˆÅÅ¥ wÅ׶ÅÓ ÅƘÅwÅÅÊ ›¬ÅӶşÅÔ}iÅÓlÅƬÅh¶ÅÅÊ ÅÐh¶ÅdÅÅe¥›ÅÅÊdÅÅe¥h¶ÅdÅÅe¥h˜Å ,1($ ,1($
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 ÅƬÅnňÅiÅÓl¯ÅŶÅiÅlÅÊ ÅiÅlŘÅИŠÞãñ¸ãõ Þãñ¸ãõ
ÅƘŠÅşÅiÅl¶ÅŸÅŅÅŘÅ
 œÅӶŬÅ,,,ÅƘŠşÅÅÔiÅlÅ›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅlŬÅ ÅÆ} Å¢,, ÅÆ} Å¢,,
 œÅӶŬÅ,,,ÅƘŠşÅÅÔiÅÓl›ÅÅÆ¢®ÅˆÅ¥˜ÅiÅÓlœÅŌ ÅÆ} Å¢,, ÅÆ} Å¢,,
 hiÅl¬Å¶ÅŸÅи¶ÅŸÅи#hiÅl¬Å›Å¢ ÅÅÓº Å hiÅl¬Å hiÅl¬Å

234
Sr. Particulars Lower Tier II Lower Tier II
No.
SERIES XIII SERIES XIV

22 Non-cumulative or cumulative Non-cumulative Non-cumulative

23 Convertible or non-convertible Non-convertible Non-convertible

24 If convertible, conversion trigger(s) N/A N/A

25 If convertible, fully or partially N/A N/A

26 If convertible, conversion rate N/A N/A

27 If convertible, mandatory or optional conversion N/A N/A

28 If convertible, specify instrument type convertible into N/A N/A

29 If convertible, specify issuer of instrument it converts into N/A N/A

30 Write-down feature No No

31 If write-down, write-down trigger(s) N/A N/A

32 If write-down, full or partial N/A N/A

33 If write-down, permanent or temporary N/A N/A

34 If temporary write-down, description of write-up mechanism N/A N/A

35 Position in subordination hierarchy in liquidation (specify Subordinate to claims Subordinate to claims

instrument type immediately senior to instrument) of all other creditors and of all other creditors and
depositors depositors

36 Non-compliant transitioned features YES YES

37 If yes, specify non-compliant features No Basel III loss Absorption No Basel III loss Absorption

Table DF-13 : MAIN FEATURES OF REGULATORY CAPITAL INSTRUMENTS

Disclosure template for main features of regulatory capital instruments

Sr. Particulars Upper Tier II Upper Tier II

No. SERIES III SERIES IV
1 Issuer PSU Bank PSU Bank
2 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for INE565A09199 INE565A09223
private placement
3 Governing law(s) of the instrument Chennai Chennai
Regulatory treatment
4 Transitional Basel III rules Tier II Tier II
5 Post-transitional Basel III rules Tier II Tier II
6 Eligible at solo/group/group @ solo Solo Solo

235
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236
Sr. Particulars Upper Tier II Upper Tier II
No. SERIES III SERIES IV
7 Instrument type Upper Tier II capital Upper Tier II capital
instrument instrument
8 Amount recognised in regulatory capital (Rs. In Crore, as of 153 290
most recent reporting date)
9 Par value of instrument Rs.10.00 lakhs Rs.10.00 lakhs
10 Account classification Liability Liability
11 Original date of issuance 01.09.2009 10.01.2011
12 Perpetual or dated dated dated
13 Original maturity date 01.09.2024 10.01.2026
14 Issuer call subject to prior supervisory approval Yes Yes
15 Optional call date, contingent call dates and redemption amount 01.09.2019 nil 510 10.01.2021 nil 967
(in Rs. Crore)
16 Subsequent call dates, if applicable No No
Coupons / dividends
17 Fixed or floating dividend/coupon Fixed Fixed
18 Coupon rate and any related index Coupon rate Coupon rate
19 Existence of a dividend stopper No No
20 Fully discretionary, partially discretionary or mandatory Mandatory Mandatory
21 Existence of step up or other incentive to redeem Step-up 0.50% Step-up 0.50%
22 Non-cumulative or cumulative Non-Cumulative Non-Cumulative
23 Convertible or non-convertible Non-convertible Non-convertible
24 If convertible, conversion trigger(s) N/A N/A
25 If convertible, fully or partially N/A N/A
26 If convertible, conversion rate N/A N/A
27 If convertible, mandatory or optional conversion N/A N/A
28 If convertible, specify instrument type convertible into N/A N/A
29 If convertible, specify issuer of instrument it converts into N/A N/A
30 Write-down feature No No
31 If write-down, write-down trigger(s) N/A N/A
32 If write-down, full or partial N/A N/A
33 If write-down, permanent or temporary N/A N/A
34 If temporary write-down, description of write-up mechanism N/A N/A
35 Position in subordination hierarchy in liquidation (specify Subordinate to claims Subordinate to claims
instrument type immediately senior to instrument) of all other creditors and of all other creditors and
depositors depositors
36 Non-compliant transitioned features Yes Yes
37 If yes, specify non-compliant features Step-Up in coupon rate, No Step-Up in coupon rate, No
Basel III loss Absorbency Basel III loss Absorbency

237
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238
Table DF-13 : MAIN FEATURES OF REGULATORY CAPITAL INSTRUMENTS
Disclosure template for main features of regulatory capital instruments

Sr. Particulars Perpetual

No. Basel II Compliant
SERIES IV
1 Issuer PSU Bank
2 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for private placement INE565A09207
3 Governing law(s) of the instrument Chennai
Regulatory treatment
4 Transitional Basel III rules Additional Tier I
5 Post-transitional Basel III rules Additional Tier I
6 Eligible at solo/group/group @ solo Solo
7 Instrument type Perpetual Debt Instrument
8 Amount recognized in regulatory capital (Rs. In Crore, as of most recent reporting date) 40
9 Par value of instrument Rs.10.00 lakhs
10 Account classification Liability
11 Original date of issuance 29.09.2009
12 Perpetual or dated Perpetual
13 Original maturity date Perpetual
14 Issuer call subject to prior supervisory approval Yes
15 Optional call date, contingent call dates and redemption amount (Rs. in Crore) 29.9.2019 , nil, 300
16 Subsequent call dates, if applicable No
Coupons / dividends
17 Fixed or floating dividend/coupon Fixed
18 Coupon rate and any related index Coupon rate
19 Existence of a dividend stopper No
20 Fully discretionary, partially discretionary or mandatory Mandatory
21 Existence of step up or other incentive to redeem Step-up 0.50%
22 Non-cumulative or cumulative Non-cumulative
23 Convertible or non-convertible Non-convertible
24 If convertible, conversion trigger(s) N/A
25 If convertible, fully or partially N/A
26 If convertible, conversion rate N/A
27 If convertible, mandatory or optional conversion N/A
28 If convertible, specify instrument type convertible into N/A
29 If convertible, specify issuer of instrument it converts into N/A
30 Write-down feature No
31 If write-down, write-down trigger(s) N/A
32 If write-down, full or partial N/A
33 If write-down, permanent or temporary N/A
34 If temporary write-down, description of write-up mechanism N/A

239
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240
Sr. Particulars Perpetual
No. Basel II Compliant
SERIES IV
35 Position in subordination hierarchy in liquidation (specify instrument type immediately senior Superior to equity
to instrument) shareholders and
subordinate to claims of all
other creditors
36 Non-compliant transitioned features Yes
37 If yes, specify non-compliant features Step-Up in coupon rate, No
Basel III loss Absorbency
Table DF-13 : MAIN FEATURES OF REGULATORY CAPITAL INSTRUMENTS
Disclosure template for main features of regulatory capital instruments
Sr. Particulars Perpetual Perpetual
No. Basel III Tier II Basel III Tier II
SERIES I SERIES II
1 Issuer PSU Bank PSU Bank
2 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for INE565A09256 INE565A09264
private placement
3 Governing law(s) of the instrument Chennai Chennai
Regulatory treatment
4 Transitional Basel III rules Tier II Tier II
5 Post-transitional Basel III rules ineligible ineligible
6 Eligible at solo/group/group @ solo Solo Solo
7 Instrument type Tier II Debt Instruments Tier II Debt Instruments
8 Amount recognised in regulatory capital (Rs. In Crore as of 800 300
most recent reporting date)
9 Par value of instrument Rs.10.00 lakhs Rs.10.00 lakhs
10 Account classification Liability Liability
11 Original date of issuance 03.11.2016 10.12.2018
12 Perpetual or dated dated dated
13 Original maturity date 03.11.2026 10.12.2028
14 Issuer call subject to prior supervisory approval Yes Yes
15 Optional call date, contingent call dates and redemption nil, nil, 800 nil, nil, 300
amount (Rs. In Crore)
16 Subsequent call dates, if applicable Not applicable Not applicable
Coupons / dividends Fixed Fixed
17 Fixed or floating dividend/coupon Coupon rate Coupon rate
18 Coupon rate and any related index No No
19 Existence of a dividend stopper Mandatory Mandatory
20 Fully discretionary, partially discretionary or mandatory Not available Not available
21 Existence of step up or other incentive to redeem Non-cumulative Non-cumulative
22 Non-cumulative or cumulative Non-convertible Non-convertible
23 Convertible or non-convertible N/A N/A
24 If convertible, conversion trigger(s) Fixed Fixed

241
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242
Sr. Particulars Perpetual Perpetual
No. Basel III Tier II Basel III Tier II
SERIES I SERIES II
25 If convertible, fully or partially N/A N/A
26 If convertible, conversion rate N/A N/A
27 If convertible, mandatory or optional conversion N/A N/A
28 If convertible, specify instrument type convertible into N/A N/A
29 If convertible, specify issuer of instrument it converts into N/A N/A
30 Write-down feature yes yes
31 If write-down, write-down trigger(s) Upon declaration under Upon declaration under
PONV by RBI PONV by RBI
32 If write-down, full or partial partial/full partial/full
33 If write-down, permanent or temporary permanent permanent
34 If temporary write-down, description of write-up mechanism N/A N/A
35 Position in subordination hierarchy in liquidation (specify Subordinate to claims Subordinate to claims
instrument type immediately senior to instrument) of all other creditors and of all other creditors and
depositors depositors
36 Non-compliant transitional features No No
37 If yes, specify non-compliant features NA NA
Table DF-14 : TERMS AND CONDITIONS OF REGULATORY CAPITAL INSTRUMENTS
Disclosure template for main features of regulatory capital instruments

Sr. Particulars Lower Tier II Lower Tier II

No.
SERIES XIII SERIES XIV
1 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for INE565A09181 INE565A09215
private placement
2 Instrument type Tier II debt instruments Tier II debt instruments
3 Par value of instrument Rs.10.00 lakhs Rs.10.00 lakhs
4 Issuer call subject to prior supervisory approval Not applicable Not applicable
5 Optional call date, contingent call dates and redemption nil, nil, 290 nil, nil, 1000
amount (Rs. in Crore)
6 Subsequent call dates, if applicable Not applicable Not applicable
7 Fixed or floating dividend/coupon Fixed Fixed
8 Coupon rate and any related index Coupon rate Coupon rate
9 Existence of a dividend stopper No No
10 Fully discretionary, partially discretionary or mandatory Mandatory Mandatory
11 Existence of step up or other incentive to redeem Not Available Not available
12 Non-cumulative or cumulative Non-cumulative Non-cumulative
13 Convertible or non-convertible Non-convertible Non-convertible
14 Position in subordination hierarchy in liquidation (specify Subordinate to claims Subordinate to claims
instrument type immediately senior to instrument) of all other creditors and of all other creditors and
depositors depositors
15 Non-compliant transitioned features YES YES
16 If yes, specify non-compliant features No Basel III loss Absorption No Basel III loss Absorption

243
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 ®Å×iÅlÅƬ›ÅiÅlŸÅÅĺÅÅƈÅÅƋŶÅĞÅÅ® ÅŸÅÅĺÅÅƈÅÅƋŠÅÅÜh®ÅÄÅÆ¢ ÅŠňÅ¢ÅÅƯŤiÅl¢ÅÓރŸÅÔ ¯ÅИ Å¯ÅИ Å
 ÅƘÅÅƯÀňÅ ÅÅÀŬÅ¬ÅŞÅÅįÅiÅÐl›Å˜Å ãäÔ©ãÀ
 ¬ÅŞÅÅįÅdŮŢÅӅÅiÅliÅlÅÊŸÅÅ×wÅЌºÅÅÊ ˜Å¸ÅË
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 ÂÅÅƈśÅÐÅƈťiÅl¢˜ÅÓiÅÓlÅƬÅhfšÅ Å˜Å ÅÅdŘ Å›Å¨Åӈ¶ÅŸ˜ÅiÅlÅÊŸÅÅ×wÅЌºÅÅÊ fˆ‹ÅŘźňÅ
 ºÅ×¢¶ÅÄÀÅ ÅÅÊ ÅŶÅÄÀÅ ÅÅÊ ºÅ×¢¶ÅÄÀÅ ÅÅÊ

244
Table DF-14 : TERMS AND CONDITIONS OF REGULATORY CAPITAL INSTRUMENTS

Sr. Particulars Upper Tier II Upper Tier II

No. SERIES III SERIES IV
1 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for INE565A09199 INE565A09223
private placement
2 Instrument type Upper Tier II capital Upper Tier II capital
instrument instrument
3 Par value of instrument Rs.10.00 lakhs Rs.10.00 lakhs
4 Issuer call subject to prior supervisory approval Yes Yes
5 Optional call date, contingent call dates and redemption amount 01.09.2019 nil 510 10.01.2021 nil 967
(in Rs. Crore)
6 Subsequent call dates, if applicable No No
7 Fixed or floating dividend/coupon Fixed Fixed
8 Coupon rate and any related index Coupon rate Coupon rate
9 Existence of a dividend stopper No No
10 Fully discretionary, partially discretionary or mandatory Mandatory Mandatory
11 Existence of step up or other incentive to redeem Step-up Step-up
12 Non-cumulative or cumulative Non-Cumulative Non-Cumulative
13 Convertible or non-convertible Non-convertible Non-convertible
14 Position in subordination hierarchy in liquidation (specify Subordinate to claims Subordinate to claims
instrument type immediately senior to instrument) of all other creditors and of all other creditors and
depositors depositors
15 Non-compliant transitioned features yes Yes
16 If yes, specify non-compliant features Step-Up in coupon rate, No Step-Up in coupon rate, No
Basel III loss absorbency Basel III loss absorbency
Table DF-14 : TERMS AND CONDITIONS OF REGULATORY CAPITAL INSTRUMENTS
Disclosure template for main features of regulatory capital instruments

Sr. Particulars Perpetual

No.
Basel II Compliant
SERIES IV
1 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for private placement INE565A09207
2 Instrument type Perpetual Debt Instrument
3 Par value of instrument Rs.10.00 lakhs
4 Perpetual or dated Perpetual
5 Original maturity date Perpetual
6 Issuer call subject to prior supervisory approval Yes
7 Optional call date, contingent call dates and redemption amount (Rs. in Crore) nil, nil, 300
8 Fixed or floating dividend/coupon Fixed
9 Existence of a dividend stopper No
10 Fully discretionary, partially discretionary or mandatory Mandatory
11 Existence of step up or other incentive to redeem Step-up
12 Non-cumulative or cumulative Non-cumulative

245
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246
Sr. Particulars Perpetual
No.
Basel II Compliant
SERIES IV
13 Convertible or non-convertible Non-convertible
14 Position in subordination hierarchy in liquidation (specify instrument type immediately senior Superior to equity
to instrument) shareholders and
subordinate to claims of all
other creditors
15 Non-compliant transitioned features Yes
16 If yes, specify non-compliant features Step-Up in coupon rate, No
Basel III loss absorbency
Table DF-14 : TERMS AND CONDITIONS OF REGULATORY CAPITAL INSTRUMENTS
Disclosure template for main features of regulatory capital instruments

S r . Particulars Perpetual Perpetual

No. Basel III Compliant Tier II Basel III Compliant Tier II
SERIES I SERIES II
1 Unique identifier (e.g. CUSIP, ISIN or Bloomberg identifier for INE565A09256 INE565A09264
private placement
2 Instrument type Debt Instrument Debt Instrument
3 Par value of instrument Rs.10.00 lakhs Rs.10.00 lakhs
4 Perpetual or dated Dated Dated
5 Original maturity date 03.11.2026 10.12.2028
6 Issuer call subject to prior supervisory approval Yes Yes
7 Optional call date, contingent call dates and redemption amount nil, nil, 800 nil, nil, 300
(Rs. in Crore)
8 Fixed or floating dividend/coupon Fixed Fixed
9 Existence of a dividend stopper No No
10 Fully discretionary, partially discretionary or mandatory Full Discretionary Full Discretionary
11 Existence of step up or other incentive to redeem Not available Not available
12 Non-cumulative or cumulative Non-cumulative Non-cumulative
13 Convertible or non-convertible Non-convertible Non-convertible
14 Position in subordination hierarchy in liquidation (specify Subordinate to claims Subordinate to claims
instrument type immediately senior to instrument) of all other creditors and of all other creditors and
depositors depositors
15 Non-compliant transitioned features No No
16 If yes, specify non-compliant features Not applicable Not applicable
Table DF-16: EQUITIES – DISCLOSURE FOR BANKING BOOK POSITIONS
Qualitative Disclosure
As per regulatory guidelines, the Equity portfolio of Bank is valued as under:
For Equity Shares held in Available For Sale and Held For Trading category
¾ Listed Equity Shares are valued at latest Market Rates i.e. Marked to Market.
¾ Unlisted Equity Shares are valued at Book value ascertained from the latest available balance sheets. If the balance sheet is
not available, then the same are valued at Re.1/- per company.

247
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(01.01.2019 to 31.03.2019) 
(01.04.2018 to 31.03.2019) FY 2018-19 
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 ˆÅάŘśŊŶÅӛŢÓiÅlÅÊŸÅŒÅÔiÅÓlÅƬÅh¶ÅŸÅÅ ÅÅÓwŘňÅάŘśŊÅhiÅm¶Å›ÅÅÓwÅ¢¶ÅӛŢӶşňÅά ÅkÅÓlÅƃ}¢ÅÅƯŠÅÅÔŸÅÔ›ÅÅÆ¢®ÅˆÅ¥˜Å 
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248
For Equity Shares held in Held till Maturity category
Equity shares held in Held till Maturity category are valued at cost
Quantitative disclosure:
(Rs. in crore)

Sr. Particulars Amount

No.
1 Value disclosed in the balance sheet of investments, as well as the fair value of those investments; for 236.56*
quoted securities, a comparison to publicly quoted share values where the share price is materially
different from fair value

2 The types and nature of investments, including the amount that can be classified as:
‡3XEOLFO\WUDGHG 1403.08
‡3ULYDWHO\KHOG 825.54

3 The cumulative realised gains (losses) arising from sales and liquidations in the reporting period
(01.01.2019 to 31.03.2019)
0.67
(01.04.2018 to 31.03.2019) FY 2018-19 (5.08)

4 Total unrealised gains (losses) (1311.78)**

5 Total latent revaluation gains (losses) 0.00

6 Any amounts of the above included in Tier 1 and/or Tier 2 capital 0.00

7 Capital requirements broken down by appropriate equity groupings, consistent with the bank’s methodology, 0.00
as well as the aggregate amounts and the type of equity investments subject to any supervisory transition
or grandfathering provisions regarding regulatory capital requirements

* Indicates the latest market value of all the quoted equity shares.
**Figure reported above is the Gross MTM depreciation in Shared Basket without adjusting FITL provision available.
Table DF 17: SUMMARY COMPARISON OF ACCOUNTING ASSETS VS. LEVERAGE RATIO EXPOSURE MEASURE
(Rs. in crore)

Sr. Item Amount

No.
1 Total consolidated assets as per published financial statements 297065

2 Adjustment for investments in banking, financial, insurance or commercial entities that are consolidated for 289
accounting purposes but outside the scope of regulatory consolidation

3 Adjustment for fiduciary assets recognised on the balance sheet pursuant to the operative accounting 0
framework but excluded from the leverage ratio exposure measure

4 Adjustments for derivative financial instruments 1895

5 Adjustment for securities financing transactions (i.e. repos and similar secured lending) 18225

6 Adjustment for off-balance sheet items (i.e. conversion to credit equivalent amounts of off- balance sheet 15148
exposures)

7 Other adjustments 83622

8 Leverage ratio exposure 248422

249
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250
Table DF-18
LEVERAGE RATIO COMMON DISCLOSURE TEMPLATE
(Rs. in crore)

Sr. Item Leverage ratio

No. framework
1 On-balance sheet items (excluding derivatives and SFTs, but including collateral) 297065

2 (Asset amounts deducted in determining Basel III Tier 1 capital) (84973)

3 Total on-balance sheet exposures (excluding derivatives and SFTs) (sum of lines 1 and 2) 212092

Derivative exposures

4 Replacement cost associated with all derivatives transactions (i.e. net of eligible cash variation margin) 510

5 Add-on amounts for PFE associated with all derivatives transactions 1385

6 Gross-up for derivatives collateral provided where deducted from the balance sheet assets pursuant to the --
operative accounting framework

7 (Deductions of receivables assets for cash variation margin provided in derivatives transactions) --

8 (Exempted CCP leg of client-cleared trade exposures) --

9 Adjusted effective notional amount of written credit derivatives --

10 (Adjusted effective notional offsets and add-on deductions for written credit derivatives) --

11 Total derivative exposures (sum of lines 4 to 10) 1895

Securities financing transaction exposures

12 Gross SFT assets (with no recognition of netting), after adjusting for sale accounting transactions --

13 (Netted amounts of cash payables and cash receivables of gross SFT assets) --

14 CCR exposure for SFT assets 18225

15 Agent transaction exposures --

16 Total securities financing transaction exposures (sum of lines 12 to 15) 18225

Other off-balance sheet exposures

17 Off-balance sheet exposure at gross notional amount 32971

18 (Adjustments for conversion to credit equivalent amounts) (17824)

19 Off-balance sheet items (sum of lines 17 and 18) 15147

Capital and total exposures

20 Tier 1 capital 9626

21 Total exposures (sum of lines 3, 11, 16 and 19) 247359

Leverage ratio

22 Basel III leverage ratio 3.89%

251
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252
 Business Responsibility Report – 2018-19
Section A : General Information about the Company

1. Corporate Identity Number: Not Applicable

(CIN) of the Company

2. Name of the Company INDIAN OVERSEAS BANK

3. Registered Address 763 ANNA SALAI, CHENNAI 600 002

4. Website www.iob.in

5. Email investor@iobnet.co.in

6. Financial Year Reported 2018-19

7. Sectors that the Company is engaged in (industrial activity Banking & Financial Services
code-wise)

8. List of 3 key products/services that the manufacturers a) Retail Banking

provides (as in Balance Sheet) b) Corporate Banking
c) International Banking

9. Total number of locations where: business activity is

undertaken by the Company
No. of Locations

I. National 3280 branches as on 31.03.2019

II. International 9 (Singapore, Seoul, Sri Lanka, Hongkong, Bangkok, Dubai)

10. Markets served by the Company-Local/State/National/ Bank has branches in 27 States and 6 Union Territories and
International International presence in Singapore, Seoul, Hongkong, Sri
Lanka, Bangkok and Dubai.
Section B: Financial Details of the Company

1) Paid up Capital (INR) Rs. 9141.65 crore

2) Total Turn Over (INR) / Revenue Not applicable

3) Total profit After Tax(INR) Loss: Rs. 3738 crores

4) Total Spending on Corporate Social Responsibility (CSR) No spending under CSR due to loss
as percentage of Profit after Tax (%) (Rs. In Lakhs)

Sl. No. CSR activity Particulars Amount

NA NA NIL

5) List of the activities in which expenditure on 4 above has Not Applicable

been incurred
Section C: Other Details

1. Does the Company have any Subsidiary Company/ Companies No

2. Do the subsidiaries implement : BR initiatives of the parent company If YES, then indicate the number of
Not applicable
such subsidiaries.

3. Do any other entity/ entities (e.g., suppliers, distributors etc.) that the Company does business with,
participate in the BR initiatives of the Company? If yes, then indicate the percentage of such entity/ entities? No
(Less than 30%, 30%-60%, more than 60%)

253
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 #ZZZLRELQ

254
Section D: BR Information
1. Details of Director/ Directors responsible for BR
a. Details of the Director/ Directors responsible for implementation of the BR policy/ policies

DIN Number NA

Name K Swaminathan

Designation Executive Director

b. Details of the BR head – as below

S. Particulars Details
No

1 DIN No (if applicable) NA

2 Name Radha Venkatakrishnan

3 Designation General Manager & CFO

4 Telephone no. 044-28519487

5 e-mail id investor@iobnet.co.in / radhavk@iobnet.co.in

2. Principle-wise (as per NVGs) BR Policy / Policies (Reply in Y / N)( to check)

Sl Questions

Responsibility

Human Rights
Well being of

Public Policy
Environment
Engagement
No

Stakeholder
Employees

Customer
Business

Inclusive

relations
Product

growth
Ethics

1 Do you have a policy/ policies for principles Y Y N Y N N N Y Y

2 Has the policy being formulated in consultation with the relevant Y Y NA Y NA NA NA Y Y
stakeholders?
3 Does the policy confirm to any national/ international standards? If Y Y NA Y NA NA NA Y Y
yes, specify? *(50 words)
4 Has the policy been approved by the Board? If yes, has it been Y Y NA Y NA NA NA Y Y
signed by MD/ Owner/ CEO/ appropriate Board Director
5 Does the company have a specified committee of the Board/ Director/ Y Y NA Y NA NA NA Y Y
Official to oversee the implementation of the policy?
6 Indicate the link for the policy to be viewed online? @ Y N NA N NA NA NA N Y
7 Has the policy been formally communicated to all relevant internal Y Y NA Y NA NA NA Y Y
and external stakeholders?
8 Does the company have in-house structure to implement the policy/ Y Y NA Y NA NA NA Y Y
policies?
9 Does the company have grievance redressal mechanism related to Y Y NA Y NA NA NA N Y
the policy/policies to address stakeholders’ grievances related to the
policy/ policies?
10 Has the company carried out independent audit/ evaluation of the N N NA N NA NA NA N Y
working of this policy by internal or external agencies?
*Contemplating the Policy of Government rules and guidelines beneficial to the Society.
@www.iob.in

255
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256
2a. If the answer to S. No. 1 against any principle is ‘No’, please explain why: (Tick up to 2 options)

S. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
No

1 The company has not understood the Principles

2 The company is not at a stage where it finds itself in a position to

formulate and implement the policies on specified principles

3 The company does not have financial or manpower resources available

for the task

4 It is planned to be done within next 6 months

5 It is planned to be done within next 1 year

6 Any other reason (Please specify) # & % $

# Bank does not have a separate Employees Welfare Policy. However several welfare measures for employees have been
taken with Board approval.
& Bank does not have a separate Human Rights Policy. However, these aspects are covered under Human Resources Policies
and Practices of the Bank
%Bank does not have a written policy but the guidelines issued by Government of India on Green Initiatives are being followed.
$ The Bank does not have a written policy but is associated with regulators and policy makers to shape public policy relating
to banking sector
3. Governance related to BR

a. Indicate the frequency with which the Board of Directors, Annually

Committee of the Board or CEO to assess the BR
performance of the company, within 3 months, 3-6 months,
annually, more than 1 year
b.Does the company publish a BR or a Sustainability Yes, it is published on an annual basis. BRR could be viewed
Report? What is the hyperlink for viewing this report? How at website: www.iob.in
frequently it is published?
Section E: Principle-wise-performance
Principle 1: Business should conduct and govern themselves with Ethics, Transparency and Accountability

1) Does the policy relating to ethics, bribery It covers the Bank as well as its vendors / suppliers / contractors etc.
and corruption cover only the company? Does
it extend to the group/ Joint Venture/ Suppliers/ The Bank has operationalised an Ethics Policy which is a statement of the
Contractors/ NGOs/ Others? Bank’s commitment to good conduct and highest standards of ethical practices.
The Bank’s core values have been articulated as Customer Centricity, Ethics,
Transparency, Teamwork and Ownership.

All employees of the Bank are required to take the Integrity Pledge committing

 To follow probity and rule of law in all walks of life;

 To neither take nor offer bribe;

 To perform all tasks in an honest and transparent manner;

 To act in public interest;

 To lead by example exhibiting integrity in personal behaviour;

 To report any incident of corruption to the appropriate agency.

257
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258
 All suppliers / contractors / bidders are required to execute a Pre Contract
Integrity Pact to commit to take all measures necessary to prevent corrupt
practices, unfair means and illegal activities during any stage of its bid or during
any pre-contract or post-contract stage in order to secure the contract or in
furtherance to secure it.
Bank is a member of Banking Codes and Standards Board of India (BCSBI)
and has therefore voluntarily adopted the Code of Banks’ Commitments
to Customers-January 2014 and Code of Commitment to Micro and Small
enterprises – August 2015 as its Fair Practice Code in dealings with its
customers. Complete copy of the Code is available at www.iob.in
“Citizens’ Charter” provides key information of various facilities/ services
provided to customers in the branches of the Bank.
The Code together with the Citizens’ Charter will ensure high standards of
accountability, responsibility and transparency in the Bank’s dealings with
customers.
The Bank has a Whistle Blower Policy in place.
IOB Vigil: A quarterly in-house news letter to spread vigilance awareness was
launched during June 2013.
Action against Third Party Entities: Bank publishes on its intranet website
the list of banned third party entities viz., Chartered Accountants, Valuers and
Lawyers.
To create vigilance awareness, Bank has conducted essay competition and
Quiz competition for all the officers and award staff members and awarded
prizes to winners during Vigilance Awareness Week 2018.
All the Regional Offices have been posted with Vigilance Officers, to handle
Vigilance matters. Vigilance Awareness week (VAW) 2018 with theme “To build a
Strong and Corruption Free India” was observed by the Bank from 29th October
2018 to 03rd November 2018. The Bank has widely used social media platforms
for spreading the message of VAW 2018.
JAGRITHI is a new initiative through which preventive vigilance is being created
among all staff members.
Code of Conduct sets forth the guiding principles on which the Bank shall
operate and conduct its daily business with its multitudinous stakeholders,
Government and regulatory agencies, media, and anyone else with whom it
is connected. It recognises that the Bank is a trustee and custodian of public
money and in order to fulfill its fiduciary obligations and responsibilities, it has
to maintain and continue to enjoy the trust and confidence of public at large.
All members of the Board of Directors and senior management personnel are
required to affirm compliance with the code of conduct on an annual basis.
2) How many stakeholder complaints have Customer Complaints (other Shareholder Complaints
been received in the past financial year and than ATM related and Non-
what percentage was satisfactorily resolved by digital transactions)
the management?
If so, provide details thereof, in about 50 words
or so.
No. of complaints pending at the beginning of 1180 0
the year
No. of complaints received during the year 37870 56

259
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260
 No. of complaints redressed during the year 37342 56
No. of complaints pending during the year 1708 0
% age of complaints resolved 95.63% 100%
Principle 2: Business should provide goods and services that are safe and contribute to sustainability throughout their life
cycle

1. List up to 3 of your products or services Bank offers the following financial services which have incorporated social
whose design has incorporated social concerns and opportunities:
or environmental concerns, risks and/ or Financial Literacy
opportunities.
The Bank is imparting Financial Literacy through Financial Literacy Centers
(SNEHA) established at 23 locations. 71,200 credit counselling have been
conducted by FLC Counselors since inception. During the current year, FLC
Counselors have held 9,336 Financial Literacy camps, conducted 1,075 special
camps by covering 1,29,194 beneficiaries for newly inducted people in the
financial system and 1,567 camps for the target group viz. SHGs, Students,
Senior Citizens, Farmers and Micro & Small Entrepreneurs by covering 2,06,280
beneficiaries on Digital Financial Literacy as per RBI guidelines. Our Bank is
awarded by the State Government of Tamilnadu as Best Performing Bank in
Financial Literacy for the FY 2018-19.
Self Help Group
During the year, the Bank credit-linked 41117 Self Help Groups (SHGs) with a
credit outlay of Rs. 1,315 crores. The cumulative number of SHGS credit linked
by the Bank is 7,41,182 with a total disbursement of Rs. 11234 crores as of
March 2019.
Rural Self Employment Training Institutes (RSETIs)
In line with the guidelines issued by Ministry of Rural Development, Government
of India, the Bank had set up total 13 RSETIs of which 12 RSETIs are at all
Lead Districts, to provide training to farmers, members of SHGs, beneficiaries
under SGSY, educated unemployed youth, artisans and beneficiaries belonging
to weaker sections and 1 RSETI in the Nilgiris District for the benefit of the tribals.
The RSETIs are managed by SNEHA trust established by the Bank. During
the year under review, the Bank has conducted 370 skill training programs
benefiting 9,635 unemployed youths. Since inception our Bank has trained
64704 candidates, out of which 46624 candidates were employed (Settled),
which constitutes Cumulative Settlement percentage of 72% as on 31.03.2019
against the National Achievement of 66%. 51% of candidates have been settled
through credit linkage out of total candidates settled as on 31.03.2019 which is
more than the National Average of 43%.

2. For each such product, provide in respect of NA

resource use (energy, water, raw material etc.)
per unit of product (optional):
i) Reduction during sourcing/ production/
distribution achieved since the previous year
throughout the value chain?
ii) Reduction during usage by consumers
(energy, water) has been achieved since
previous year?

261
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262
3. Does the company have proceedings in
place for sustainable sourcing (including
transportation) NA
i) If yes, What percentage of your inputs was NA
sourced sustainably? All are financial products aiming to reach the entire operational area.
Also provide details thereof in about 50 words
or so

4. Has the company taken any steps to Yes

procure goods and services from local & small
producers, including communities surrounding
Preferably, the materials are sourced from nearby vendors to reduce
their place of work?
transportation cost and time lag.
If yes, what steps have been taken to improve
their capacity and capability of local and small
vendors?

5. Does the company have a mechanism to Not applicable.

recycle products and waste? If yes what is the
percentage of recycling of products and waste
(separately as <5%, 5%-10%). Also, provide
details thereof, in about 50 words or so.
Principle 3: Business should promote the well-being of all employees.

1.Please indicate the total number of employees 26,354

2.Please indicate the Total number of employees 08
hired on temporary/ contractual/ casual basis
3. Please indicate the number of permanent 8983
women employees
4. Please indicate the permanent number of 499
employees with permanent disabilities
5. Do you have an employee association that is Yes
recognized by the management Workmen – All India Overseas Bank Employees Union
Officers – Indian Overseas Bank Officers Association
6. What percentage of your employees are Workmen – All India Overseas Bank Employees Union – 88.24%
members of this recognized employees Officers – Indian Overseas Bank Officers Association – 96.37%
association
7. Please indicate the Number of complaints Sr. Category No. of complaints No. of No. of
relating to child labor, forced labor, involuntary No. pending as on complaints complaints
labor, sexual harassment in the last financial year the start of the filed during the pending as
and pending, as on the end of the financial year financial year financial year on end of the
financial year
1 Child labour/ Nil Nil Nil
forced labour/
involuntary labour
2 Sexual Harassment 1 10 2
3 Discriminatory Nil Nil Nil
Employment

263
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264
8. What percentage of your under mentioned Permanent employees 75.34%
employees were given safety & skill up-gradation
training in the last year?
Permanent women 69.14%
employees
Casual/ Temporary/ 75%
Contractual employees
Employees with 69.34%
disabilities
‡ 9DULRXV DFWLYLWLHV OLNH (\H &KHFN 8S %ORRG 'RQDWLRQ &DPS +HDOWK &KHFN XS FDPSV 6ZDFKK %KDUDW $EKL\DQ 6XSSO\ RI
ornamental tree sapling were carried out for the financial year 2018-19.
‡%DQNLVFRQWLQXLQJWRXWLOL]HWKHVHUYLFHVRIYLVXDOO\LPSDLUHGVWDIIIRUIROORZXSDQGUHFRYHU\LQ5HWDLODQG60(VHFWRUDGYDQFHV
The entire list of SMA-1 & 2 accounts is provided to these members who use the software (JAWS) to contact and follow up for
recovery. This initiative ensures that visually impaired staff are utilized effectively by the organization and also helps to build up
morale.
Principle 4 : Business should respect the interests of and be responsive towards all stakeholders, especially those who are
disadvantaged, vulnerable and marginalized.

1. Has the company mapped its internal and Shareholders are classified into different categories viz., Government, Foreign
external stakeholders? Yes/ no Institutional Investors, Financial Institutions, Insurance Companies, Mutual
Funds, Banks, individuals, etc.
Customers are segmented into large corporate, mid-corporate, Small and
Medium Enterprises and Retail customers.
Human Resource Department looks after the interest of the Bank’s employees.
2.Out of the above, has the company identified Yes
the disadvantaged, vulnerable & marginalized Bank has identified the disadvantaged, vulnerable and marginalized stake
stakeholders holders which include Small and Marginal Farmers, Tenant and Leased Farmers,
Landless Labourers and Rural Women. They are provided with special credit
facilities like Kissan Credit Card, Agri Jewel Loan, Self Help Groups, Pradhan
Mantri Jan Dhan Yojana (PMJDY), etc.
Pre Promotion Training for SC/ST/OBC and Persons with Permanent Disability
(PWD) staff members who are eligible for promotion was conducted at various
Staff Training Centers of the Bank.
Internal training was imparted to 19,874 Staff. Of the total staff trained 3,769
belonged to Scheduled Caste (SC) and 1,885 belonged to Scheduled Tribe
(ST).
3. Are there any special initiatives taken by the Yes. Bank has taken various initiatives for increasing its lending to weaker
company to engage with the disadvantaged, sections ie., Small and Marginal farmers, SCs, STs, OBCs, Women Beneficiaries,
vulnerable and marginalized stakeholders. If Minorities etc. including the following:
so, provide details thereof. Priority Sector Credit
The average achievement of four quarters for the FY 2018-19 stood at Rs. 75,393
crores against the target of Rs. 58,751 crores and the Bank has surpassed the
mandatory norm of 40% of ANBC by achieving 51.33% under Total Priority
Sector advances.
Agriculture
The average achievement of four quarters for the FY 2018-19 stood at Rs. 31,048
crores against the target of Rs. 26,438 crores and the Bank has surpassed
the mandatory norm of 18% of ANBC by achieving 21.14% under Agriculture
advances. The Bank disbursed Rs. 31,605 crores under Special Agriculture
Credit Plan (SACP) as against the target of Rs. 29,328 crores during the year.
Loans to Small and Marginal farmers
The average achievement of four quarters for the FY 2018-19 stood at Rs. 15,530
crores against the target of Rs.11,750 crores and the Bank has surpassed the
mandatory norm of 8% of ANBC by achieving 10.57% under loans to Small/
Marginal farmers.

265
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266
Loans to Non-Corporate farmers
The average achievement of four quarters for the FY 2018-19 stood at Rs. 22,532
crores against the target of Rs. 17,611 crores and the Bank has surpassed
the mandatory norm of 11.99% of ANBC by achieving 15.34% under loans to
Non-Corporate farmers.
Loans to Weaker Section
The average achievement of four quarters for the FY 2018-19 stood at Rs. 20,054
crores against the target of Rs. 14,688 crores and the Bank has surpassed the
mandatory norm of 10% of ANBC by achieving 13.65% under loans to Weaker
Section.
Micro Finance
During the year, the Bank credit-linked 41117 Self Help Groups (SHGs) with a
credit outlay of Rs. 1,315 crores. The cumulative number of SHGs credit linked
by the Bank is 7,41,182 with a total disbursement of Rs. 11234 crores as of
March 2019.
Credit Flow to Women
Bank’s credit to women stood at Rs. 17290.08 crores as of 31st March 2019
which constitutes 11.68% of the Bank’s Adjusted Net Bank Credit.
Pradhan Mantri Jan dhan Yojana (PMJDY)
The Bank has opened 48,49,392 Basic Savings Bank Deposit Accounts and
issued 44,46,716 RuPay Debit Cards till 31st March 2019 under this scheme.
Pradhan Mantri Mudra Yojana (PMMY)
Bank has sanctioned 1,76,475 loans amounting to Rs. 2288.18 crores (97.37%)
and disbursed Rs. 2227.70 crores (94.80%) as on 31st March 2019 vis-à-vis
target of Rs. 2,350 crore under Pradhan Mantri Mudra Yojana (PMMY) during
the Financial Year 2018-19. Further, Bank has sanctioned 1209 loans amounting
to Rs.261.34 crores under Stand Up India Scheme during the FY 2018-19.
Lead Bank Scheme
The Bank has been assigned Lead Bank responsibility in 13 districts of Tamil
Nadu and one district of Kerala.
Regional Rural Banks
Bank has sponsored two Regional Rural Banks viz., Pandyan Grama Bank in
Tamil Nadu and Odisha Gramya Bank in Odisha. Pandyan Grama Bank operates
in 16 districts of Tamil Nadu with a branch network of 339 and staff strength of
1,394. As on 31st March 2019 the RRB had a business mix of Rs.12,169 crores
with a CD ratio of 97.71%. Odisha Gramya Bank has presence in 13 districts of
Odisha with a network of 549 branches and staff strength of 2,365. As on March
31, 2019, the RRB had a business mix of Rs. 16,179.12 crores with a CD ratio
of 43.22%.
Financial Inclusion
Bank has engaged 2,669 Business Correspondents as per the guidelines of
Reserve Bank of India for providing banking facilities in un-banked villages.
The Bank is enrolling customers under Jansuraksha schemes like PMJJBY,
PMSBY and Pension schemes like Atal Pension Yojana.
Aadhaar Enrollment Centres
Subject to the UIDAI guidelines, the Bank has established Aadhaar Enrollment
Centres by engaging our trained and certified staff members and by deploying
our own kits.
Sakthi - Indian Overseas Bank Chidambaram Chettyar Memorial Trust
The Trust continued to provide Entrepreneurial Development Training to women
to empower them socially and financially to meet the challenges. During the
year, the Bank conducted 5 EDP programmes covering 116 beneficiaries. The
Bank has so far conducted 100 EDP programmes covering 4,314 beneficiaries
of which 1,288 belong to SC/ST and 155 belong to minority.
Bank lays special emphasis for credit linking Women SHGs, youth SHGs,
SHGs of Ex-Service men, SHGs comprising of physically handicapped/ visually
impaired etc.

267
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268
Principle 5 : Businesses should respect and promote human rights

1 .Does the policy of the company on human The Bank’s policies and practices do not discriminate on the basis of race,
rights cover only the company or extend to the religion, marital status, gender, social status or any other basis prohibited by
Group/Joint Ventures/ suppliers/Contractors/ law.
NGOs/Others? In order to monitor and maintain good industrial relations climate in all offices/
Branches of the Bank, circulars/ guidelines are issued from time to time
regarding enforcement of discipline, policies to be followed, etc. Wherever
dispute arises between the Employer & Employee and among Employees, the
department amicably settles by conciliation/counseling members or initiates
disciplinary proceedings, if required, according to the terms of the settlement
and regulations in force to maintain industrial harmony.

With regard to complaints/matters pertaining to IR matters committed by staff

members, disciplinary action, wherever necessary, had been initiated against
erring members to maintain discipline and harmonious industrial relations in the
Bank.

HRMD-IR Section, Central Office had entered into settlement with the recognized
union for award staff regarding promotion, transfer, benefits, etc. to redress the
grievances of employees/Officers through collective bargaining with Unions/
Associations.

The industrial relations environment for the Bank remained cordial and
conducive for achieving organization’s objectives.
The guidelines issued by the Ministry of Finance and Indian Banks Association
with regard to staff matters are implemented expeditiously by issuing circulars
for the benefit of our employees.

Internal complaints committees were constituted at all Administrative offices

(Central, Zonal & Regional Office) under the instruction of HRMD-IR Section,
as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Act, 2013. As per the recommendation of the Committees,
appropriate action has been taken to redress the grievances.

2. How many stakeholder complaints have The following are the details of employee complaints during the year
been received in the past financial year and 2018 – 2019:
what percent was satisfactorily resolved by the Complaints pending as on 31.03.2018 - 01
management?
Complaints received during 2018-19 - 10

Complaints disposed during 2018-19 - 09

Complaints pending as on 31.03.2019 - 02

Principle 6 : Business should respect, protect and make efforts to restore the environment.

1. Does the policy related to Principle 6 cover NA

only the company or extends to the Group/
Joint Ventures/ Suppliers/ Contractors/ NGOs/
others.

269
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270
2. Does the Company have strategies/initiatives
to address global environmental issues such
as climate change, global warming, etc? Y/N.
if yes, please give hyperlink for webpage etc
Bank has initiated certain important measures to protect the environment and
prevent pollution :
In terms of national goals and socio-economic objectives, Bank endeavors to
increase exposure to sectors such as social infrastructure (schools, health care
facilities, drinking water facilities, sanitation facilities including house hold water
level improvement) and renewable energy, ie., for purposes such as solar based
power generators, wind mills, micro hydel plants and for non-conventional
energy based public utilities, viz., street lighting systems and remote village
electrification.
The Bank is also taking steps to increase green cover in Bank’s premises.
Measures to reduce consumption of paper:
As a part of Green Initiative, the Bank is moving towards paperless banking,
which will reduce the cost as well as save time. Recently a unique product
which can offer customised collections from educational institutions and other
organisations through IOB PAY instead of collections through Cheque/Cash has
been implemented. Green PIN for ATM debit cards has also been enabled. The
Bank has a Business Intelligence Suite which gives interactive Dash Boards,
alerts, analytics etc. System is established to store huge amount of historical
data and data relating to 12 years has been warehoused. The following initiatives
have also been taken :
‡8VHRIFDVKUHF\FOHUVIRUGHSRVLWDQGZLWKGUDZDORIFDVK
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‡3URPRWLQJXVHRI,QWHUQHW%DQNLQJ0RELOH%DQNLQJ83,DQGRWKHUHFKDQQHOV

‡ %KDUDW %LOO 3D\PHQW 6\VWHP %%36 DQ LQWHJUDWHG ELOO SD\PHQW V\VWHP IRU
customers online has been launched

‡'LJLWDOLQLWLDWLYHVVXFKDV´,2%3D\µ²DQLQWHJUDWHGRQOLQHSD\PHQWJDWHZD\
platform, Bharat Interface for Money (BHIM) has been launched to make direct
bank to bank payments instantly and collect money using just mobile number or
payment address. BHIM IOB UPI is the application launched by our Bank using
Unified Payment Interface. As on 31.03.2019, 30 lakh customers have been on
boarded on this platform and 4.81 lakh users on BHIM.

‡ 3URPRWLQJ XVH RI 'HELW &DUGV DQG &UHGLW &DUGV %DQN KDV VXFFHVVIXOO\
migrated 44.56 lakh magnetic stripe cards to EMV chip cards. Present Debit
Card base of the Bank as on 31.03.2019 is 164.69 lakhs.
‡ 57*61()7 BULK NEFT and RTGS facilities were given to branches and
Internet banking customers to attract more corporate customers and promote
usage of electronic payment channels effectively.
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copies.
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‡(PSOR\HHVDUHHQFRXUDJHGQRWWRWDNHSULQWRXWRIHPDLOVXQOHVVLWLVDEVROXWHO\
essential
‡3D\PHQWWRYHQGRUVLVPDGHWKURXJKHSD\PHQWPRGH

3. Does the company identify and assess Yes

potential environmental risks? Y/N

4. Does the company have any project related Not applicable.

to Clean Development Mechanism? If so,
provide details thereof, in about 50 words or
so. Also, if Yes, whether any environmental
compliance is filed?

271
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272
5. Has the company undertaken any other Yes. Some of the initiatives taken are as follows:
initiative on clean technology, energy a. Energy efficient LED light fixtures have been introduced in the Bank
efficiency, renewable energy, etc. Y/N. If yes,
b. 5 Star rated electrical equipments are used to save energy at all our premises.
please give hyperlink for web page etc
c. Thin Monitors are introduced.
d. Staff are sensitized to switch off electrical gadgets / appliances when not in
use
As far as possible, the bank is using high-end eco-friendly technology.
6. Are the Emissions/Waste generated by the Not applicable.
company within the permissible limits given
by CPCB/SPCB for the financial year being
reported?
7.Number of show cause/legal notices NIL
received from CPCB/SPCB which are
pending(i.e. not resolved to satisfaction) as on
end of Financial Year
Principle 7 : Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner
1. Is your company a member of any trade Bank is a member/ associated with the following:
and chamber or association? If Yes, Name 1. Indian Banks Association (IBA)
only those major ones that your business 2. Indian Institute of Banking & Finance (IIFB)
deals with: 3. Institute of Banking Personnel Selection (IBPS)
4. National Institute of Bank Management (NIBM)
5. Federation of Indian Chambers of Commerce and Industry (FICCI)
6. Centre for Advanced Financial Research and Learning (CAFRAL)
7. National Payments Corporation of India (NPCI)
8. The Clearing Corporation of India Ltd (CCI)
9. The Associated Chambers of Commerce and Industry of India
(ASSOCHAM)
10. Swift International Banking Operations Seminar (SIBOS)
2. Have you advocated /lobbied through The Bank from time to time has given suggestions / contribution to policymakers
above associations for the advancement and policy-making associations on matters relating to banking industry.
or improvement of public good? Yes/
No;
if yes specify the broad areas (drop
box: Governance and Administration.
Economic Reforms, Inclusive
Development Policies, Energy security,
Water, Food Security, Sustainable
Business Principles, Others).
Principle 8 : Businesses should support inclusive growth and equitable development
1. Does the company have specified Financial Inclusion
programmes/initiatives/projects in pursuit of Bank has engaged 2,669 Business Correspondents as per the guidelines of
the policy related to Principle 8? If yes details Reserve Bank of India for providing Banking facilities in un-banked villages.
thereof It is noteworthy to state that in co-ordination with Government of Tamil Nadu,
IOB has been enabling about 2.99 lakh old age pensioners to get their monthly
pension and about 0.25 lakh Sri Lankan Tamil Refugees in 61 camps to obtain
their monthly dole.
As per the guidelines from MoF, GOI, the Bank enabled Aadhar Enabled Payment
System (AEPS) ON-US and OFF-US Transactions in Business Correspondent
Hand Held Devices. As on 31st March 2019, 5,50,06,602 AEPS ON-US and OFF-
US transactions were carried out by Business Correspondents.
Pradhan Mantri Jan Dhan Yojana (PMJDY):
The Bank is implementing PMJDY as per the directives of Ministry of Finance,
Govt. of India. The Scheme was announced by the Prime Minister of India on
15th August 2014. The Bank has opened 48,49,392 Basic Savings Bank Deposit
Accounts and issued 44,46,716 RuPay Debit Cards till 31st March 2019 under
this scheme.

273
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274
 Jansuraksha Schemes
The Bank is enrolling customers under Jansuraksha schemes like PMJJBY,
PMSBY and Pension schemes like Atal Pension Yojana. The Jansuraksha
Schemes were launched by the Prime Minister of India on 1st June 2015.

2. Are the programmes/projects undertaken The Financial Inclusion programme has been undertaken through in-house
through in-house team/own foundation/ team as well as Business Correspondents engaged by the Bank.
external NGO/government structures/any
other organization?

3. Have you done any impact assessment of Schemes Status of Status of Status of enrolment as on
your initiative? enrolment as Enrolment 31.03.2019 (Cumulative)
on 1.04.2018 during the
year 2018-19

PMJJBY 8,89,777 1,29,722 10,19,499

PMSBY 27,73,384 2,74,760 30,48,144

Total 36,63,161 4,04,482 40,67,643

4. What is your company’s direct contribution Nil

to community development projects-
Amount in INR and the details of the projects
undertaken

5. Have you taken steps to ensure that Not applicable

this community development initiative is
successfully adopted by the community?
Please explain in 50 words, or so.

Principle 9: Businesses should engage with and provide value to their customers and consumers in a responsible manner

1. What percentage of customer complaints are pending as on 4.37%

the end of financial year

2. Does the company display product information on the Not applicable

product label, over and above what is mandated as per local
laws? Yes/No./N.A/Remarks(additional information)

3. Is there any case filed by any stakeholder against the Nil

company regarding unfair trade practices, irresponsible
advertising and/or anti-competitive behavior during the last five
years and pending as on end of financial year. If so, provide
details thereof, in about 50 words or so

4. Did your company carry out any consumer survey/consumer Customer satisfaction survey is conducted through the
satisfaction trends? customer service meetings organized at branches periodically.

275
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276
 IOB DIVIDEND DISTRIBUTION POLICY
I. NEED AND OBJECTIVE OF THE POLICY:
Securities and Exchange Board of India (SEBI) has on
July 08, 2016, inserted Regulation 43A in the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015
(LODR), which requires the top five hundred listed entities
based on Market Capitalization, (calculated as on March 31 of
every financial year), to formulate a Dividend Distribution Policy
which shall be disclosed in their annual reports and on their
websites. The Dividend Distribution Policy shall include the
following parameters:
(a) the circumstances under which the shareholders of the
listed entities may or may not expect dividend;
(b) the financial parameters that shall be considered while
declaring dividend;
(c) internal and external factors that shall be considered for
declaration of dividend;
(d) policy as to how the retained earnings shall be utilized;
and
II. DEFINITIONS:
(e) parameters that shall be adopted with regard to various
classes of shares:
Provided that if the listed entity proposes to declare dividend
on the basis of parameters in addition to clauses (a) to (e) or
proposes to change such additional parameters or the dividend
distribution policy contained in any of the parameters, it shall
disclose such changes along with the rationale for the same in
its annual report and on its website.
In terms of Regulation 43A of SEBI (LODR) Regulations, it is
mandatory for our Bank to frame the Dividend Distribution
Policy, as our Bank falls within the top 500 listed entities as
on March 31, 2016 in terms of Market Capitalization and our
shares are listed in BSE & NSE Limited. Accordingly, the
following ‘Dividend Distribution Policy’ has been framed and
been approved and adopted by the Board of Directors of the
Bank.
Our Bank, being a corresponding new bank, formed under the
provisions of Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1970, is following the guidelines of Reserve
Bank of India (RBI) and Government of India in respect of
dividend payments.

a) Dividend Dividend includes interim dividend. In common parlance, ‘Dividend’ means the profit of the Bank,
which is not retained in the business and is distributed among the shareholders in proportion to the
amount paid up on the shares held by them.
b) CRAR It is the ratio of the Bank’s capital to its risk weighted assets.
c) Dividend Payout Ratio ‘Dividend Payout Ratio’ is calculated as a percentage of ‘dividend payable in a year (excluding
dividend tax) to ‘net profit during the year’.
d) Board ‘Board’ means Board of Directors of the Bank constituted in terms of Section 9(3) of the Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1970.

III. POLICY: ‡ 1HW13$OHVVWKDQ

1. The Policy will be called as “IOB Dividend Distribution
Policy.”
2. General Principles of the Bank regarding distribution
of dividend:
The intent of the Bank is to reward the shareholders of the
Bank by sharing a portion of the profits, whilst also ensuring
that sufficient funds are retained for growth of the Bank. The
dividend for each year would be recommended by the Board
at its discretion within the set guidelines of Government
and Reserve Bank of India and after taking into account the
financial performance of the Bank, its future plans, internal and
external factors, statutory restrictions etc. for declaration by the
shareholders in general meeting. The Board may also declare
interim dividend at its discretion.
3. Eligibility Criteria for declaration of dividend:
As per the guidelines dated May 04, 2005 issued by Reserve
Bank of India, Bank will be eligible to declare dividends only
when it complies with the following minimum prudential
requirements;
i. The Bank should have:
‡ &5$5RIDWOHDVWIRUSUHFHGLQJWZRFRPSOHWHG\HDUV
and the accounting year for which it proposes to declare
dividend.
In case the Bank does not meet the above CRAR norm, but is
having a CRAR of at least 9% for the accounting year for which
it proposes to declare dividend, it would be eligible to declare
dividend provided its Net NPA is less than 5%.
ii. The Bank shall comply with the provisions of Sections 15
(which prohibits payment of dividend until all capitalized
expenses have been written off) and Section 17 (which
stipulates transfer of specified portion of profit to statutory
reserve fund) of the Banking Regulation Act, 1949.
iii. The Bank shall comply with the prevailing regulations /
guidelines issued by RBI, including creating adequate
provisions for impairment of assets and staff retirement
benefits, transfer of profits to Statutory Reserves etc.
iv. The proposed dividend should be payable out of the
current year’s profit.
v. The Reserve Bank of India should not have placed
any explicit restrictions on the Bank for declaration of
dividends.
In case any bank does not meet the above eligibility criteria no
special dispensation shall be available from the Reserve Bank.

277
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278
4. Quantum of dividend payable:
A. RBI guidelines: The Bank, if it fulfills the eligibility criteria
set out at paragraph No.3 above, may declare and pay dividends
subject to the following:
i. The dividend payout ratio shall not exceed 40% and shall
be as per the matrix furnished in Annexure 1.
ii. In case the profit for the relevant period includes any
extra-ordinary profits / income, the payout ratio shall be
computed after excluding such extra-ordinary items for
reckoning compliance with the prudential payout ratio.
iii. The financial statements pertaining to the financial year
for which the Bank is declaring a dividend should be free
of any qualifications by the statutory auditors, which have
an adverse bearing on the profit during that year. In case
of any qualification to that effect, the net profit should be
suitably adjusted while computing the dividend payout
ratio.
iv. In case of nonpayment of interest on Basel-III compliant
bonds or non-achievement of the Basel-III CRAR ratio
including CCB, RBI puts restrictions on the dividend in
the Master Circular on Basel III Capital Regulations issued
for this purpose.
B. Government of India guidelines:
As per extant guidelines of Government of India, the Bank is
required to pay a minimum dividend of 20% of its equity (i.e.
paid up capital) or 20% of its post–tax profits, whichever is
higher. In case, any Bank decides to pay interim dividend,
the total dividend to be paid by the Bank based on the annual
results should be as per the above guidelines.
5. Internal and External Factors:
The dividend payout decision of the Bank will also depend on
certain external factors such as the state of the economy of the
country, statutory and regulatory provisions, tax regulations, etc,
as may be applicable at the time of declaration of the dividend.
Apart from the aforesaid external factors, Board will also take
into account various internal factors, such as business growth
plans, future capital requirements, replacement of capital
assets, etc. The decision of the Board regarding dividend shall
be final.
6. Utilisation of Retained Earnings:
The retained earnings will mainly be utilized for the purpose of
the Bank’s growth plans and such other purposes as per the
guidelines issued by RBI and Government of India from time
to time.
7. Provisions with regard to various classes of shares:
The Bank currently has only one class of shares, namely Equity
Shares. In case of issuance of any other class of shares in
future, the parameters shall be decided suitably by the Bank at
the appropriate time.
8. Manner of Payment of dividend:
As per Regulation 12 of SEBI (LODR) Regulations, the Bank shall
use any of the electronic modes of payment facility approved
by the Reserve Bank of India for the payment of the dividends.
Where it is not possible to use electronic mode of payment,
‘payable-at-par’ warrants or Demand Drafts will be issued to the
eligible shareholders.
9. Disclosure and Reporting:
a) The Policy will be disclosed on the website of the Bank
and a web link shall be provided in the Annual Report.
b) The Bank shall report the details of dividend declared
during the accounting year to RBI as per timeline specified
by RBI.
c) The Bank shall declare and disclose the dividend on
per share basis only as specified under SEBI (LODR)
Regulations.
10. Validity and Review of Policy
The Policy will be in force, until further amendments made
by Regulatory Authorities. In the event of any discrepancy or
inconsistency between the Policy and Regulatory guidelines,
the regulatory guidelines will prevail.
The Board will review / renew the Policy on an annual basis and
if found essential may amend the Policy from time to time.
**********

Annexure - 1
Matrix of Criteria for maximum permissible range of Dividend Payout Ratio

Net NPA Ratio

Zero More than zero From 3% to From 5% to

Category CRAR
but less than 3% less than 5% less than 7%

Range of Dividend Payout Ratio

A 11% or more for each of the last 3 years Up to 40 Up to 35 Up to 25 Up to 15

B 10% or more for each of the last 3 years Up to 35 Up to 30 Up to 20 Up to 10

C 9% or more for each of the last 3 years Up to 30 Up to 25 Up to 15 Up to 5

D 9% or more in the current year Up to 10 Up to 5 Nil

279
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