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Owning a piece of land or property is a lifetime dream for every individual. There are
many home loans provider in the market to make your dream come true. But before you
opt for any home loan provider, you need to consider certain factors related to property
that you are interested in buying and also about the salient features offered by a home
loan provider and also study some Home Loans and Home Insurance FAQs which
helps in applying a Home Loan in India. And the most important thing is you should
know about each and every term related with Home Loans before applying for a Loan. It
is always advisable to consult a home loan expert or consultant before applying for a
home loan or purchasing a property.

You can take different types of home loans like Bridge Loans, Home construction
Loans, Home Equity Loans, Home Extension Loans, Home Improvement Loans, Land
Purchase Loans etc for different schemes available in the market. There are different
types of home loans tailored to meet your needs.

! V
 
  
These are the basic forms of home loans used for
purchasing of a new home.
! V
 
 
  
^ These loans are given for implementing repair
works, healing and renovations in a home that has already been purchased.
! V
 
  
These loans are available for the construction of a
new home.
! V

  
These loans are given for expanding or extending an
existing home. For eg^ addition of an extra room etc.
! V
  
   
These loans are available for those who have
financed the present home with a home loan and wish to purchase and move to
another home for which some extra funds are required. Through home
conversion loan, the existing loan is transferred to the new home including the
extra amount required, eliminating the need of pre-payment of the previous loan.
!   
  
^ These loans are available for purchasing land for both
construction and investment purposes.
! › 
Bridge loans are designed for people who wish to sell the existing
home and purchase another one. The bridge loans help finance the new home,
until a buyer is found for the home.

 
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?
Ñ To study the cost of home loans provided by the bank.
2 To know that which bank provide batter loan schemes.
3 To analyze the home loan scheme by HDFC and SBI banks.
4 To know the consumer perception about the home loan of PNB and SBI
?
›
       

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„




„  
?The roots of the State Bank of India rest in the first decade of Ñ
th century, when the
Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June Ñ.
The Bank of Bengal was one of three Presidency banks, the other two being the Bank
of Bombay (incorporated on Ñ April Ñ4 and the Bank of Madras (incorporated on Ñ
July Ñ43 . All three Presidency banks were incorporated as joint stock companies and
were the result of the royal charters. These three banks received the exclusive right to
issue paper currency in ÑÑ with the Paper Currency Act, a right they retained until the
formation of the Reserve Bank of India. The Presidency banks amalgamated on 27
January Ñ
2Ñ, and the reorganized banking entity took as its name^ Imperial Bank of
India. The Imperial Bank of India remained a joint stock company. Pursuant to the
provisions of the State Bank of India Act (Ñ
 , the Reserve Bank of India, which is
India's central bank, acquired a controlling interest in the Imperial Bank of India. On 3
April Ñ
, the Imperial Bank of India became the State Bank of India. The government
of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any
conflict of interest because the RBI is the country's banking regulatory authority.

In Ñ

, the government passed the State Bank of India (Subsidiary Banks Act,
enabling the State Bank of India to take over eight former state-associated banks as its
subsidiaries. On Ñ3 September 2, the State Bank of Saurashtra, one of its associate
banks, merged with the State Bank of India.SBI has acquired local banks in rescues.
For instance, in Ñ
, it acquired the Bank of Cochin in Kerala, which had Ñ2
branches. SBI was the acquirer as its affiliate, the State Bank of Travancore, already
had an extensive network in Kerala.

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! State Bank of Bikaner & Jaipur
! State Bank of Hyderabad
! State Bank of Mysore
! State Bank of Patiala
! State Bank of Travancore
! State Bank of Saurashtra - merged with SBI in 2.
 ! State Bank of Indore - merged with SBI in 2Ñ.

  


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! State Bank of India has Ñ3Ñ foreign offices in 32 countries across the globe.
! SBI has about 2, ATMs (2,th ATM was inaugurated by the then
Chairman of State Bank Shri O.P.Bhatt on 3Ñst March 2ÑÑ, the day of his
retirement  and SBI group (including associate banks has about 4, ATMs.
! SBI has 2, branches, including branches that belong to its associate banks.
! SBI includes

34 offices in India.

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To be amongst most trusted power utility company of the country by providing environment
friendly power on most cost effective basis, ensuring prosperity for its stakeholders and growth
with human face.


 „
The current board of Directors for State Bank of India are^
a. Mr. O P Bhatt - Chairman
b. Mr. R Sridharan - Managing Director
c. Dr. Ashok Jhunjhunwala - Director
d. Mr. Dileep C Choksi - Director
e. Mr. S Venkatachalam - Director
f. Mr. D Sundaram - Director
g. Mr. G D Nadaf - Officer Employee director
h. Mrs. Vasantha Bharucha - Director
i. Dr. Rajiv Kumar - Director
j. Mr. Ashok Chawla - Director
k. Mrs. Shyamana Gopinath - Director

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Low SBI home loan interest rates have always been the main reason
for attracting more customers. Considered as one of the safest and
most economical vendor, SBI interest rate is hugely dictated by market
norms and changes made by RBI. SBI had launched a new SBI home
loan rate scheme for all the new applicants where they can avail home loan by paying
SBI home loan interest rate of just  in the first year. SBI home loan rate have been
fixed at
. for next two years. After the completion of these 3 years, the applicant will
be charged SBI home loans interest rates based on the fixed SBI home loan interest
rates or floating SBI home loans interest rates as selected by the customer.

SBI interest rate is divided into two main slabs. SBI home loan rates for amount up to 3
lakhs and SBI home loan interest rate above this value. Here are some useful details
about SBI home loan rates for value of loan below 3 lakhs^

! SBI home loans interest rates till the first anniversary of the disbursement of
loans should be only . These SBI home loan interest rates are lowest in the
country.
! SBI home loan interest rate is fixed at
 for next couple of years.
! SBI home loans interest rates will then be dependent upon floating SBI home
loan rate or fixed SBI home loan interest rates. If the user selects the option of
fixed SBI home loans interest rates, then the value of the SBI home loan rate will
be fixed Ñ below the current SBAR value. When the user selects floating SBI
interest rate, then after three months their SBI home loan rates will be 2 below
the current SBAR value.

Some facts about SBI interest rate on amount above the value of 3 lakhs^

! SBI home loan interest rate for the loan which is greater than 3 lakhs would also
remain at  for the first year and in next 2 years, loan seeker has to bay SBI
home loan rate of
..
! SBI home loan interest rates will then be dependent on whether the user selects
floating SBI home loan rate or fixed SBI interest rate. For fixed SBI home loans
interest rates seekers, the value of SBI interest rate will be . below the SBAR
value and people looking for floating SBI home loan rates have to pay SBI home
loan interest rate that is Ñ below SBAR value.

More details on SBI home loan rates and SBI home loan interest rates could be
gathered by visiting the official website or by contacting the nearest SBI branch today
though this information on SBI home loan rates and SBI home loan interest rate will
surely help in taking loan from SBI. For latest information on SBI home loans interest
rates, keep visiting our site.

V
 
 


Interest rate on home loan is something that one has to pay in lieu of the loan provided
by the bank/financial institution. Home loan Interest rate is very important element when
it comes to choosing a home loan for a customer & it also helps the customer on taking
right decision or on pinning down that through which bank or financial institution he or
she can go for. Depending on this interest rate, the loan amount and the tenure of the
loan, your EMI is calculated which is how you repay your loan to the bank. In case the
interest rate is higher, the EMI would be higher and in case the interest rate is lower, the
EMI would be lower. Thus y choosing a bank with a lower interest rate, you can
certainly increase your monthly savings. But please keep in mind that interest rate is not
the only criteria to choose a loan. There are various other parameters as well. The EMI
is calculated on a monthly reducing balance method.

Your home loan eligibility or how much loan you are eligible for is also calculated on the
basis of the interest rates. In case you opt for a bank with a lower interest rate, then
your eligibility will be higher compared to a bank that is offering a higher interest rate.

 
 V
 
  


  A rate which is set In-advance or which is predetermined for
entire term of Home Loan.
.
 
  A rate which is linked to a benchmark rate or the base rate
of the bank or the financial institution. The floating home loan interest rate will change
as and when the bank will change its benchmark rate or the base rate.
?
?

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HDFC Bank was incorporated in Ñ

4 by Housing Development Finance Corporation

Limited (HDFC , India's largest housing finance company. It was among the first
companies to receive an 'in principle' approval from the Reserve Bank of India (RBI to
set up a bank in the private sector. The Bank started operations as a scheduled
commercial bank in January Ñ

 under the RBI's liberalization policies. Times Bank
Limited (owned by Bennett, Coleman & Co. / Times Group was merged with HDFC
Bank Ltd., in 2. This was the first merger of two private banks in India. Shareholders
of Times Bank received Ñ share of HDFC Bank for every .7 shares of Times Bank. In
2 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more
than Ñ,. The amalgamated bank emerged with a base of about Rs. Ñ, 22, crore
and net advances of about Rs.
, crore. The balance sheet size of the combined
entity is more than Rs. Ñ,3, crore.

 


HDFC Bank is headquartered in Mumbai. The Bank has a network of Ñ72 branches
spread in 7 cities across India. All branches are linked on an online real-time basis.
Customers in over  locations are also serviced through Telephone Banking. The
Bank has a presence in all major industrial and commercial centers across the country.
Being a clearing/settlement bank to various leading stock exchanges, the Bank has
branches in the centers where the NSE/BSE has a strong and active member base.

The Bank also has ,Ñ networked ATMs across these cities. Moreover, HDFC Bank's
ATM network can be accessed by all domestic and international Visa/MasterCard, Visa
Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.

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U can make lots of Money. Very easy to get started! Once it picks up, the system builds
your income for you!

›    


Director A N Roy

Managing Director Aditya Puri

Director Ashim Samanta

Director Bobby Parikh

Chairman Chander Mohan Vasudev

Director Harish Engineer

Director Pandit Palande

Director Paresh Sukthankar

Director Partho Datta

Director Renu Karnad


 

 


Home loans breathe in oxygen of life into your dream, your home. But the market being
jam-packed with so many financial institutions offering wide array of home loans it
becomes difficult to make the right choice. Here you have to make a wise decision, it is
better to look for an eminent financial institution offering good home loan options and
something extra. HDFC Home Loans have the potential to fulfill all the criteria with
flawless perfection.

The excess that HDFC Home Loans offers above lucrative loan programs is the
satisfaction factor by catering the best in realizing your desire. And nonetheless, many
customers throughout the country will stand as testimony to this fact. Initially, the
objective of HDFC was shooting up residential housing stock and promoting home
ownership in India. But now apart from home loans offered by HDFC it has diversified
into deposit products, property related services and training facility. HDFC also offers
specialized financial services to worldwide customer base through partnership with
several financial institutions. HDFC Home Loans are tailored according to individual
needs and repayment capacities. You can also take HDFC home improvement loans to
finance improvements to escalate the value of your home and to provide a better
environment to your living. Even if you are an existing customer of HDFC you can take
HDFC home improvement loans. HDFC Home Loans also include Home Extension
Loans which you can avail to add space to your house, be it a romantic terrace or a
choosy enclosed balcony. You can also take HDFC Home Equity Loans to use up the
cash built-up in your housing unit. Some other loans provided by HDFC are short term
bridging loans, land purchase loans and professional loans.





 „
„

 
 ^

The research will be exploratory in nature. A population of peoples who take home loan
from these banks will be considered for this study. I will try to explore about the home
loans which would make a difference in the behavior of the consumer. Effort will be
made to throw light on most of the factors which have either indirect or direct effect on
the behavior of the consumer. I will also explore the impact of home loans on the market
share of the banks.

!
  


‡ Population^ The study aimed to include the customers of SBI and PNB in nawanshahr,
to make a comparative analysis of home loan schemes of these two banks..

‡ Sample Size^ A Sample size of Ñ respondents will be taken for the current study
because it is not possible to cover the whole universe in the available time period. So it
is necessary to take the sample size. In Ñ respondents  respondents from PNB and
 from SBI. The sample wills the peoples of age group lying between eighteen to thirty
years. The sample will be taken in the form of strata based On the age, sex,and gender.

„^?

The sampling technique will be probabilistic sampling more specifically the random
convenient and judgemental sampling will be used. As in probabilistic sampling the
select unit for observation with known probabilities so that statistically sound
assumptions are supported from the sample to entire population so that we had positive
probability of being selected into the sample. I will go for stratified random sampling as
we are interested to study the home loan by SBI and PNB banks, so we will make the
strata on the basis of age, occupation, income, gender. And from each strata we will go
for random sampling
 ! 
   
I will use primary source of data that is structured questionnaire. As these banks are
established from so many years, so many researchers have done research on this
topic, so we will find secondary data also and also use this data for the help of this
research. So, this research data will collected from the primary source and secondary
source our method of collecting the data is from the questionnaire that will be filled by
the respondent from the sample, it will be structured questionnaire

 
 "
^

As no study could be successfully completed without proper tools & techniques, same
with my project. For the better presentation and right explanation I used tools of
statistics and computer very frequently and I am very thankful to all those tools for
helping me a lot. Basic tools which I used for project are^

›
V
!
V
!

›!

Bar charts and pie charts are very useful tools for every research to show the result in
a clear, simple way. Because I used bar charts and pie charts in my project for
showing data in a systematic way. So I need not necessary for any observer to read all
the theoretical detail, simple on seeing the charts anybody that what is being said.

    



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?

On Tuesday, HDFC announced its 
     as like running SBI is dual rate
Home loan policy under which bank charged fixed rate for some tenure and then
floating rate for a loan of Rs 3 lac for 2 years, HDFC will be changed a fixed rate i.e
.2 up to march 2Ñ2 and then a floating rate i.e.  basis points below the Prime
Lending Rate (PLR , currently is Ñ3.7 on another hand, already SBI is charging 
for first year and . for next two year and from fourth year the borrow can opt
between a fixed and a floating rate, SBI¶s floating rate in 27 basis points less than its
PLR i.e. ÑÑ.7.

When SBI launched its popular scheme it was vehemently criticized by HDFC chairman
Mr. Deepak Parekh but due to abundant liquidity and fierce competition, HDFC
accepted similar scheme. This scheme is only for new customers who apply before Jan
3Ñ, 2Ñ and avail at least a part disbursement before March 3Ñ, 2Ñ. While the fixed
rate will remain the same irrespective of the loan amount, the floating rate will vary with
the   amount.

HDFC now has three slab i.e loans up to 3 lacs, between, 3 to  lakh and Rs  lakh
& above .On Tuesday, HDFC announced its 
     as like running SBI is
dual rate Home loan policy under which bank charged fixed rate for some tenure and
then floating rate for a loan of Rs 3 lac for 2 years, HDFC will be changed a fixed rate
i.e .2 up to march 2Ñ2 and then a floating rate i.e.  basis points below the
Prime Lending Rate (PLR , currently is Ñ3.7 on another hand, already SBI is
charging  for first year and . for next two year and from fourth year the borrow
can opt between a fixed and a floating rate, SBI¶s floating rate in 27 basis points less
than its PLR i.e. ÑÑ.7.


 ÿ




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Home loan is designed to help you acquire the dream home you wished to buy. Home
Loan is finalized by individuals after considering the home loan interest. HDFC Home
Loans or SBI Home Loans or any other home loan from any bank is taken for purchase
or construction of a new house/flat, Purchase an existing (old house/flat, Extension,
repair, renovation or alteration of a house/flat or purchase a plot meant for construction
of a dwelling unit. The Home loan interest differs from banks to banks also depends on
factors like loan amount, tenure, type of home loan rates (fixed home loan rate or
floating home loan rate etc. Also to get HDFC Home Loans or SBI Home Loans or any
other bank¶s home loan there is certain eligibility criteria. Also there are factors like
repayment capacity, age, educational qualification, stability and continuity of income,
number of dependents, co-applicant income, assets, liabilities, saving habits and more.

With home loan rates taken into consideration let¶s compare two banks with regards to
home loan, as SBI home loans and HDFC home loans.

SBI Home Loans come to you on the solid foundation of trust and transparency built in
the tradition of State Bank of India. SBI Home Loan ± For Loan amount upto Rs. 3
Lacs«. (w.e.f. Ñ.July.2

‡ SBI Home Loan or Home loan rate during the first year (i.e. till first anniversary date
from the date of first disbursement is fixed at  p.a.

‡ SBI Home Loan or Home Loan rate during next two years is fixed at . p. a.

‡ SBI Home Loan or Home Loan rate after three years may be Fixed or Floating as per
the borrower¶s choice made at the time of sanction. If floating home loan rate option is
chosen, then the home loan rates will be 2.7 below SBAR (State Bank Advance
Rate . If fixed home loan rate option is chosen, then the home loan rates will be Ñ.2
below SBAR prevailing on the third anniversary date from the date of first disbursement
of SBI home loan and shall have a reset frequency of  years from the third anniversary
date of the SBI home loan. Fixed interest shall be subject to force-majeure clause.

‡ For SBI home Loan amount above 3 lacs SBI Home Loan rates is fixed at  p.a.
and
 p.a. for first and second years of taking the SBI Home Loan, respectively and
for third year if floating home loan rates option is chosen, then the home loan rate will
be Ñ.7 below SBAR . If fixed home loan rate option is chosen, then the home loan
rate will be .7 below SBAR.
HDFC Home Loans

HDFC¶s objective, from the beginning, has been to enhance residential housing stock
and promote home ownership by way of HDFC Home loans.

HDFC home loans or floating home loan rates for new customers are

‡
.7 per cent for HDFC home loans up to Rs 3 lakhs.

‡ Ñ.7 per cent for HDFC home loans more than 3 lakhs.

The Home loan interest is very important in determining the uptake of this home loan by
the masses. The home loan interest has come down allowing many individuals to take
the plunge. According measures are taken by government and also other financial
institutions including banks to further reduce the home loan interest thus encouraging
more and more people to take home loan. From the above table it is seen that both the
banks HDFC bank and SBI bank offer similar home loan interest with regards to HDFC
Home Loans and SBI Home Loans .Some banks also try to gain more customers by
prompting incentives in the way, waive off the charges for processing and
documentation, for certain category of housing finance loans.

With increasing competition among banks, interest rates would be a deciding factor as
to which bank can offer the least interest rates and which would be higher on interest
rates but will try to gain customers through prompt incentives by waiving of the charges
for processing and documentation, for home loans.

?



 

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In India where the economic market is one the top in offering world class opportunities
in the fields of education, technology, research, medical and mainly real estate.

From previous few decades, Indian real estate is among the top rated sector while
yielding high return in short period of time. After analyzing all this, huge number
investors and business personnel entered into real estate in India to examine their
business hands. Besides these, numbers of Indian banks also approach to international
market in order to offer home loans with different categories to make compatible with
different sections of the society. Among these indian banks, Housing Development And
Finance Corporation - HDFC is one of the well known and favorable banks offer home
loans with different plans and schemes. Here with HDFC you will find numbers of
different plans including land purchase loan, home improvement loan, short term
bridging loan, home extension loan and home equity loans that offer wide variety of
home loan schemes especially for business personnel, job workers, employers,
residents and non residents of India. HDFC home loan is among the top rated home
loan providers of India with different home loan product and services. Here you can
select fixed or floating rate of interest with an attractive loan schemes. Passport size
photograph, latest salary slip, form Ñ and many more things need to be submitted with
hdfc home loan. Different providers have different pattern to offer home loans. Like for
salaried customers, self employed businessman and for self employed professionals
comprises different eligibility to apply hdfc home loans. Here with Ñ23realestates bring
you with complete information about hdfc home loan application, eligibility, online form
and many more things regarding how to apply home loan from different providers.


  


State Bank Of India is one of the reputed government banks of india is famous for
offering quality and reliable services to its clients. SBI is among of those with good
name and favorable for applying home loan. SBI home loan brings you with different
categories of home loans with different interest rates and procedures. In these days
when numbers of banks have come up with their different home loans schemes and
programs.SBI is on the top while offering quality services to its clients from all across
the nation. State Bank Of India is famous for offering home door services That
compatible with all types of income groups where you can also find complete guidance
about legal formalities and documentation needed to apply for the sbi home loans. The
whole process is to made with no hidden costs and also hassle free from client point of
view. Here different sbi home loans comprise different interest rates along with different
procedures in terms of maximum amount apply that you can calculate with the help of
sbi home loan calculator.

SBI Flexi, SBI Maxgain, SBI Realty and SBI Freedom are the two most favorable and
popular home loans schemes offered by State Bank Of India to Indian residents. Under
these loans programs one can apply for the renovation, new construction,
reconstruction, and for buying new house. Here with Ñ23realestates you will get detail
information about sbi home loan application form, sbi home loan calculator, sbi home
loan eligibility and lots more regarding home loans providers of the nation.

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The launch of low-rate home loan products by India¶s largest bank State Bank of
India (SBI sent its rivals into a huddle. Peers called the move a µgimmick¶, but
they could not avoid the war triggered by the bank¶s so-called µteaser rates¶ and
instead had to join it. SBI justified its new products SBI Easy Loan and SBI
Advantage Home Plan for amounts up to Rs  lakh and above Rs  lakh as a
part of the process to build its credit portfolio. To counter these rates, LIC
Housing Finance came out with a floating rate offer of . per cent while the
leading private player HDFC Bank rolled out home loans at .7 per cent floating.
See Table Ñ for rates.

V

@ SBI low-rate home loan schemes are extended up to March 3Ñ, 2Ñ
 @ There are no processing charges/fees on these loans
@  per cent interest rate is available for the first year on loans up to Rs 
lakh and tenure of 2 years

V
  '!
! 

With most banks¶ interest rates hovering in double digits, SBI¶s rates came as a
breather to new home loan seekers. But experts think otherwise, they cautioned
borrowers that this could be a trap whereby one has to part with more money in
the end. Is it true? What should a buyer do to avail better rates? Let us see. In
this article, we would assume that rates remain the same throughout the loan
tenure as indicated in the table below.

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However, for a Rs. -lakh loan, the current SBI rate does not seem to be
attractive as the total interest payment in this case is higher, for it attracts a
higher rate of Ñ per cent after three years. SBI¶s total interest component in the
first three years is Rs Ñ.ÑÑ lakh as compared to Rs Ñ4.4 lakh and Rs Ñ.

lakh of LIC HF and HDFC. But the total interest paid is Rs 7.
 lakh which is
comparatively higher than Rs 4.
7 lakh and Rs 7.
2 lakh in case of LIC HF
and HDFC. Moreover, the processing fees in SBI has been waived till March 3Ñ,
2Ñ, hence, the net interest rates would be as shown in Table 2. Here, again
LIC HF offers the best deal at the current rate of . per cent which is the lowest
in this category.

Moreover, private lender HDFC Bank has loan rates higher than its PSU peers.
So, EMI payments for private players may rise at an alarmed rate if the interest
rate in the market hardens, thus, impacting a borrower¶s cash outflows.

Hence, there are scenarios where individuals can have different options^
 @ If you are an existing home loan borrower who wants to shift to new rates,
you can either negotiate with your existing bank for a levelled interest rate
or shift to PSU banks if they offer better rates. In this case, even after
paying a prepayment penalty, you can save a good amount in EMI
payment.

@ New borrowers can always consider new schemes offered by PSU banks
as interest payments in the first three years would be comparatively less.


 ›  
› 
 
The Operating Profit of the Bank for 2
-Ñ stood at Rs. Ñ,32.
Ñ crores as
comparedto Rs. Ñ7,
Ñ.23 crores in 2-
registering a growth of 2.2. The Bank
has posted a NetProfit of Rs.
,Ñ. crores for 2
-Ñ as compared to Rs.
,Ñ2Ñ.23
crores in 2-
registering a moderate growth of .4
.

While Net Interest Income recorded a growth of Ñ3.4Ñ and Other Income increased
byÑ7.
, Operating Expenses increased by 2
.4 attributable to higher staff cost
and otherexpenses.


The Bank has increased dividend to Rs. 3. per share (3 {(inclusive of
interimdividend of Rs. Ñ. per share (Ñ already paid  from Rs. 2
. per share
(2
 in thelast year.

'


The Net Interest Income of the Bank registered a growth of Ñ3.4Ñ from Rs.
2,73.Ñ4crores in 2-
to Rs. 23,7Ñ.44 crores in 2
-Ñ. This was due to growth
in interestincome on advances and investments.

The gross interest income from global operations rose from Rs. 3,7.43 crores
toRs.7,

3.
2 crores during the year. This was mainly due to higher interest income
onadvances.
Interest income on advances in India registered an increase from Rs. 42,

.3 crores
in2-
to Rs. 47,33.47 crores in 2
-Ñ despite decline in the average yield on
advancesin India from Ñ.Ñ in 2-
to
. in 2
-Ñ. Interest income on
advances atforeign offices has decreased by Ñ2.Ñ
.

Income from resources deployed in Treasury operations in India increased by

Ñ7.mainly due to higher average resources deployed. However, the average yield,
which was7.Ñ in 2-
, has decreased to .2 in 2
-Ñ.

Total interest expenses of global operations increased from Rs. 42,
Ñ.2
crores
in2-
to Rs. 47,322.4 crores in 2
-Ñ. Interest expenses on deposits in India
during2
-Ñ recorded an increase of Ñ.4 compared to the previous year,
whereas the averagelevel of deposits in India grew by 2. and the average cost of
deposits declined from.3 in 2-
to . in 2
-Ñ.

' 


Non-interest income stood at Rs. Ñ4,
.Ñ crores in 2
-Ñ as against Rs.
Ñ2,
.7
crores in 2-
.

During the year, the Bank received an income of Rs. 73.4 crores (Rs.4
. crores
inthe previous year by way of dividends from Associate Banks/subsidiaries and
jointventures in India and abroad.

% 


There was an increase of 3. in the Staff Cost from Rs.
,747.3Ñ crores in 2-

toRs.Ñ2,74. crores in 2
-Ñ attributable to higher pension provisioning and
increasedstaff strength. Staff Cost included an amount of Rs. Ñ,

7 crores towards
additionalpension provision and Rs. 2,
crores towards wage revision provisions as
compared toRs.Ñ,4
crores and Rs. Ñ,4Ñ4 crores respectively in the previous years.

Other Operating Expenses have also registered an increase of 2.3 mainly due
toincrease in expenses on rent, taxes and lighting, depreciation on the
Bank¶sproperties, law charges, postage and telephones, repairs & maintenance to
theBank¶s properties, insurance and miscellaneous expenditure.

Operating Expenses, comprising both staff cost and other operating expenses,
haveregistered an increase of 2
.4 over the previous year.

# ( V
')!
**+*,

 

‡ Rs.
7.

crores towards write-back for depreciation on investments,

excludingamortization of premium on µHeld to Maturity¶ category (as against provision
ofRs.77.Ñ7 crores in 2-
.
‡ Rs. ,Ñ.2 crores towards Provision for Tax, excluding deferred tax credit
ofRs.Ñ,47.7 crores (as against Rs. ,
7Ñ.2 crores in 2-
excluding deferred tax
creditof Rs. Ñ,.Ñ crores .

‡ Rs. ,Ñ47. crores (net of write-back for non-performing assets (as

againstRs.2,474.
 crores in 2-
.

‡ Rs. . crores towards Standard Assets (as against Rs. 234.2 crores in2-
.
Including the current year¶s provision, the total provision held onStandard Assets
(domestic offices amounts to Rs. 2,2
2.72 crores.

 - .  
  



  
 !› !›) 
2
- 2- 2
- 2-
Ñ 
Ñ 

Return on Average Assets ( . Ñ.4 . .
4
Return on Equity ( Ñ4.4 Ñ.7 Ñ4. Ñ.3
Expenses to Income ( (Operating Expenses to Total
2.
4.2 3.Ñ 2.
Net Income
Basic Earnings Per Share (Rs. Ñ44.37 Ñ43.77 Ñ4.2 Ñ72.
Diluted Earnings Per Share (Rs. Ñ44.37 Ñ43.77 Ñ4.2 Ñ72.
Capital Adequacy Ratio ( (Basel-I Ñ2. Ñ2.
7 ÑÑ.
Ñ2.

Tier I .4 .3 . .2Ñ
Tier II 3.4 4.44 3.Ñ 4.

Capital Adequacy Ratio ( (Basel-II Ñ3.3
Ñ4.2 Ñ3.4
Ñ4.Ñ7
Tier I
.4
.3
.2
.3
Tier II 3.
4 4.7 4.2Ñ .Ñ4
Net NPAs to Net Advances ( Ñ.72 Ñ.7
Ñ.7 Ñ.4


 
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 - 4
5V

(Amount in Rs. crores

  


 1*1**+

 1*1** ) ,6
Deposits Ñ2,47 Ñ4,
Ñ 2.7
Advances 4,7 3,723 Ñ.4



7 
  

The growth, as above, could be achieved despite the following^

i. Delayed monsoons leading to a drought like situation and floods had hit the
creditdemand in the first half of the year.

ii. Adjustment of Rs. Ñ,2 crores of Debt Waiver claim received from
GoI(reimbursement .

iii. Around Rs. Ñ, crores received from µOther Farmers¶ eligible under DebtRelief
Scheme ±being their 7 share.

‡ The Bank has crossed the Ñ Benchmark for agri priority sector advances in theFY
2Ñ by 8*86 
'› ·
 
 

 

.

‡ The Bank has recorded Rs. 34,Ñ7
crores disbursement ·     
 crores    ! "#  under µFlow of Credit toAgriculture¶ as
against Rs. 2,442 crores ·        
  $%  and
financed Ñ2.32 lacs new farmers against the target of 7.7 lacsduring the year.

‡ !  



 
  


The Scheme was launched in September 2
, whereby concessions in interest rates,
loanprocessing charges, margin money, moratorium period etc., have been offered for
minorirrigation loans upto Rs. 2 lacs and crop loans above Rs. 3 lacs and upto Rs. 2
lacs ·&& '!!(  "'  #)(.
Rs. crores was disbursed under Crop Loans and Rs. Ñ crores under Minor
Irrigation during FY2Ñ.

‡  # 9 

:#
PML was launched exclusively for farmers at concessionary interest rate of 
· crores ! "!!  $% 

Special focus was given to cover beneficiaries of Agricultural Debt Waiver & DebtRelief
Scheme who became eligible for new loans ·  # '!      
"   ! * #

', 

‡ %  
:%

Financing of farmers, who want to switch over from traditional method to organicfarming
for improving returns, has since been launched by the Bank in September 2
infive
Circles i.e. New Delhi, Bangalore, Mumbai, Hyderabad, and Chennai.

‡   ! ( 

The scheme allows additional loan for Tractor repairs, maintenance, upgradation
andaddition of new implements.

‡ .
.  

It is a p#"&! +pp!,

-

‡ 
 
 -     
 3   

Corporate tie-ups were entered into for capacity building in horticulture activities,seed-
production, cultivation of medicinal plants and quality input supply to farmers.
MoUsigned with National Horticultural Board (NHB as a preferred Banker.

Stimulus was given by way of sub-PLR loans for setting up high techµclean-milk¶ dairy
units in Punjab and high-value integrated Poultry units inTamil Nadu / Union Territory of
Pudducherry.

Collateral Management Services were expanded through further accreditations, to

ensureminimum loss to commodities lending under Produce Marketing Loan (PML .

‡ › , 

^

To enhance customer awareness and ensure continued relationship with the

farmingcommunity, various initiatives have been continued under µBonding with
Farmers¶.

Achievements during FY 2Ñ are given in the table^

 



Villages adopted·*.(/&) 2Ñ
Farmers¶ Clubs formed ,2

Farmers¶ Meets conducted 2,2Ñ

‡ !›V  )   Circles are conducting some of the µFarmersMeet¶ as µFarmers

Training Programmes¶ by scaling it up with the activeparticipation of the Circle
authorities and Agri Technical persons from the AgriculturalUniversities / KVK /
NABARD / ICAR / APEDA etc. These Farmers Training Programmes havebeen
renamed as ;!›V  )  < to command more reach andinvolvement of farmers.
Apart from the regular farmers meet, one such Hariyali Gangaprogramme is being
conducted per quarter per region beginning from January 2Ñ (2programmes have,
so far, been conducted .

   › 9

:›


#    › 9!  

:›!  

As per Government of India guidelines, all RRBs have to be migrated to CBS by

September2ÑÑ. The Bank has sponsored Ñ7 RRBs. Out of Ñ7 RRBs,  RRBs, with
Ñ,3 branches, havealready been migrated to CBS. The Bank has a plan of migrating
the remaining RRBs to CBSplatform before 3th September 2Ñ.

   

9$


  :


The Government has constituted a committee (Chairman^ Dr K. C. Chakrabarty

withrepresentatives from the Government, Public Sector Banks, RRBs and the
NABARD to examinethe financials of the RRBs and suggest a roadmap to raise the
CRAR of RRBs to nine percentby March 2Ñ2. The Committee is in the process of
finalization of its report. The Bankwill accordingly induct its share (3 of Capital.

 
:  

We have ensured continuous growth in the CD ratio of RRBs from 
.2
 in March
2
toÑ.6 in March 2Ñ for the development of rural economy.

  -

Profit of all RRBs, sponsored by the Bank, has increased to Rs. 33Ñ. crores as
on3Ñ.3.2Ñ from Rs. 23.3Ñ crores as on 3Ñ.3.2
, registering a growth of 2.4.

1


   !

 !-

The credit assistance provided by the Bank to Scheduled Castes and Scheduled
Tribesstands at Rs. ÑÑ,72. crores and forms .3Ñ of total Priority Sector advances
of theBank as on 3Ñ.3.2Ñ.
1   /- 9› 9

Under the directions of Government of India, the Bank took active initiative and
hasdrawn up a plan of action to extend banking services in unbanked blocks, allotted to
it bythe respective SLBCs.

1! 
 
  
:  

To improve the CD ratio of the Bank, wherever it is less than , the
followingmeasures have been initiated^

i Monitoring the performance under the existing system of District Level

ConsultativeCommittee (DLCC in districts having CD ratio between 4 and .

ii Special Sub-Committees of DLCC are set up to monitor the performance of

districtswhere CD ratio is between 2 and 4.

iii Districts with CD ratio of less than 2 are treated on a special footing.

13 !

 


:!


RSETIs offer free, unique and intensive short-term residential




   


with free food and accommodation, designed
specifically for ruralyouth. Under the guidance of Ministry of Rural Development
(MoRD , GoI, the Bank hasestablished 7 RSETIs as on 3Ñ.3.2Ñ in the lead districts
across the country conductedÑ,74 training programmes trained 4,2 candidates
and arranged credit linkage to Ñ,Ñ
beneficiaries.

13
 
 $ 9! 

The Bank has extended advances to the tune of Rs. , crores as on 3Ñ.3.2Ñ to
theweaker sections, which is Ñ2.Ñ4 of Adjusted Net Bank Credit (ANBC against the
benchmarkof Ñ of the ANBC set by the Reserve Bank of India.

2 
 #
<
 ', =    

    $   # 



   !  



  

The Bank has implemented Prime Minister¶s New Ñ Point Programme for the Welfareof
Minorities, whose important objective is to ensure that an appropriate percentage ofthe
Priority Sector Lending is targeted for the minority communities and that the benefitsof
various Government sponsored schemes reach the underprivileged, particularly
thedisadvantaged section of Minority Communities (Christians, Muslims, Buddhists,
Sikhs andZoroastrians .

The year-wise position in respect of our financial assistance to Minority Communitiesin

the identified Minority Concentration Districts (MCDs is given below^
 - >


  # 

 
'   

  -  ) '  

 :
 
 :#

7
 

March 27 44 7.
4 lacs 2Ñ
March 2 Ñ2Ñ
. lacs 3Ñ
March 2
Ñ2Ñ
.
Ñ lacs 
Ñ
March 2Ñ Ñ2Ñ .2
lacs
434

‡ Minority cells for co-ordination have already been created at Local Head Officelevel
and Nodal Officers have been designated to monitor the progress in lending tominority
communities as well as to redress the grievances of minority communities.

‡ As per Sachar Committee recommendations, our Bank has opened 24 new branches
inunder-banked / unbanked areas in MCDs during the financial year 2
-Ñ.

‡ All the lead district managers have been advised to monitor applicationsreceived from
minority communities and their disposal. Also, quarterly informationregarding Minority
Lending is updated on the Bank¶s Website.

#
.')%!!!') 
#'

The large network of branches of the State Bank Group is being leveraged to
deliverPara banking products of SBI Life Insurance Co., SBI Mutual Fund, SBI Card and
other thirdparty companies having tie-up arrangement with SBI, thereby offering wider
range offinancial products to our customers.

During the year, the Bank covered Ñ7.73 lacs lives under various schemes of SBI
LifeInsurance. µGrameen Shakti¶, a micro-insurance product was launched in 
statescovering 2,
2,Ñ lacs lives. Also, for encouraging investment among small
investors, theBank distributed µChhota SIP (Systematic Investment Plan ¶ product by
whichmiddle income group customers can invest regularly in the Mutual Fund. A total of
34,3customers were covered in the year under the scheme. Looking at the popularity,
the HealthInsurance product covering nine critical illness named µCriti
¶ introduced
inBangalore on pilot basis was extended across the country. Over the counter payment
optionwas extended to SBI Card customers thus transforming the company into the
industry leaderin payment options.

)%%
!
)?'$›/!'!!!

The New Businesses Department has been successful in achieving the objectives
withwhich it was set up. Two new lines of business viz. Custodial Services and
GeneralInsurance have been successfully set up and are in the process of stabilization.
Otherinitiatives being pursued are Private Equity, Financial Planning & Advisory
Services(FP&AS and Mobile Banking. During the year, the consultants, appointed for
assistingthe Bank to consolidate the Payment Solution Business, have since submitted
theirrecommendations. Seven niche areas viz. Mobile Banking, Merchant Acquisition
Business, SMECurrent account and Supply Chain Finance, Savings Bank, Cash
Management Product, NRIremittances and Govt. Business have been identified for
implementing a comprehensivestrategy, an aggressive business plan, improved
processes and matching organizationalstructure. New initiatives taken up during the
year are Merchant Acquisition and PaymentSolutions.

    

 !
:?
!

In the wake of recent development in regulatory position regarding distribution

offinancial products through advisory mode rather than the distribution mode and
alsoconsidering the Swarup Committee recommendations on "Consumer awareness
and Investorprotection", our Financial Planning and Advisory Services, launched in
March 2
,addresses the needs of the modern day customers as also the regulatory
concerns.

Under this service, customers are guided to finalise their financial goals viz.child¶s
education/marriage, buying a house, building a retirement corpus etc., andare advised a
suite of products comprising mutual funds, fixed deposits and insuranceproducts. The
Service was initially launched in 2 branches which has been extended to
24
branches by March 2Ñ (including  branches in Super Circle of Excellence subset .

Further, the Bank plans to introduce Wealth Management services in a phased manner
in2Ñ-ÑÑ to help HNI (High Net-worth Individual clients to preserve and grow their
wealth.


?% 

Demat services and eZ-trade@sbi (Online Trading Services are now available at
morethan 2, branches across India making our Bank one of the largest players in
theindustry in terms of the reach / distribution. In FY 2
-Ñ, the Bank has crossed
themilestone of having more than 2 lacs Demat account holders in its fold.

The 3-in-Ñ account i.e. eZ-trade@sbi is offered in alliance with SBICAP Securities
Ltd.(SSL and Motilal Oswal Securities Ltd. (MOSL . The product offers convenient
onlinetrading facility in Equities and Derivatives. The customers can access our Demat
Serviceseither from the comfort of home or office through our Internet Banking
facility(OnlineSBI.com or through our Mobile Banking platform (SB Freedom .

Our objective for the next financial year is to further broad base our reach,
whilecontinuously honing our products by adding more value added services and
conveniences forthe customers.


!  

The Bank is in the process of implementing "Integrated Payment Hub" as theprimary

processor of all payment activities. This will facilitate substantial revenuegeneration for
this business segment. With a view to providing more focus on payment,Organisational
restructuring is also under way.

# -› 9!:#›!

Mobile Banking Service is convenient, user friendly, secure and offers 24X7
inexpensivebanking services to customers. This is expected to increase customer
satisfaction andthus, will be a customer retention tool, in addition to reinforcing brand
recognition.State Bank Freedom has been launched in all our branches and is available
over application(on SMS/ GPRS , Wireless Application Protocol and USSD
(Unstructured Supplementary ServiceData .

For application / WAP based MBS, the facilities available include Account
enquiry(balance enquiry and mini statement , Cheque Book request, Demat Account
enquiries, FundTransfer within the Bank and to other Banks in India, Mobile Top ups,
recharge of TataSky, obtaining PINs of other DTHs, Bill Payment, Payment of premium
of SBI Life.Facilities in the pipeline include Railway / Airline ticket booking through MBS,
StateBank Mobile Banking as payment option in the Shopping application of leading
aggregatorsand Recharge of e-Tag of Gurgaon-Delhi Highway. For MBS over USSD,
fund transfer, accountenquiry and mobile top up are offered. The Bank is also
considering integration with IVRplatform for merchant payments and introduction of
Mobile Wallets. As on 3Ñ-3-2Ñ, atotal number of 2,Ñ,434 customers had registered
for full fledged MB services.

'7)!

Substantial growth in both inward and outward RTGS/NEFT remittances has been
achieveddue to sustained efforts for migrating more Corporates and individuals to
RTGS/NEFT. TheBank has maintained its leadership position in RTGS (with a market
share of Ñ4.Ñ as on3Ñ.3.2Ñ and also has a significant position in NEFT
registering a growth of Ñ3.7Ñover the last year. Both remittance facilities are
available through internet banking andacross the counter, while NEFT has also been
enabled over Mobile Banking.

- 

Promotion Campaigns & Loyalty Rewards Programs have significantly helped

inincreasing the Debit Card usage at the Point-of-Sale terminal. In addition to our
existingSBI Shopping & ATM Debit Card, SBI Gold International Debit Card and SBI
Yuva Card,the Bank has recently launched Platinum International Debit Card to cater to
the needs ofHNI & Affluent customers. As on 3Ñ.3.2Ñ, the Bank has a total of 7.

millionDebit Cards.

  

The Bank offers comprehensive range of Prepaid Cards viz. SBI Vishwa Yatra Card,
eZ-PayCard and Gift Card to cater to the various payment needs of its customers. Apart
frompromoting financial inclusion, other benefits to Bank include availability of
float,interchange and fee income. In our effort to maintain competitive edge, product
featuresof SBI Vishwa Yatra Card have been refined.

) 
 

As part of its strategy to enhance its value proposition to its customers, the Bank
hassince set up SBI General Insurance Company Ltd. (SBI General as a Subsidiary
with anauthorized and paid-up capital of Rs. Ñ crores. While the Bank has invested in
74 sharein the equity capital, IAG International Pty. Ltd, has invested in the remaining
2share.

Insurance Regulatory and Development Authority (IRDA issued the Certificate

ofRegistration (IRDA-R3 to SBI General on December Ñ, 2
. Bancassurance will be
one ofthe major channels of distribution and the Subsidiary would leverage the vast
network ofthe Bank for distribution of its products through a Corporate Agency
Agreement with theBank. The Company has commenced limited business operations in
March 2Ñ. IT backed fulllaunch of business operations is expected later this year.


  !

The Indian financial market today is greatly influenced by the trading activity of theFIIs
as they bring in very huge volumes and volatility into the market. The FIIs areregulated
by SEBI, which makes it mandatory for them to have a Custodian for their
marketoperations.

The JV Company formed by the Bank with Socit Gnrale Securities Services (SGSS will
offer a single point delivery of all Custodial Services like Settlement, Safekeeping&
Corporate Action. In addition, the JV would provide other value added services likeFund
administration, proxy voting etc. at competitive rates. Apart from FIIs, it willtarget Mutual
Funds, Pension Funds and Trusts, Foreign and Domestic Venture Capital
Funds,Insurance companies, Portfolio Management companies, Corporates, Trading
members on StockExchanges, HNIs, Banks and others.

The vision of the Company is to garner a substantial market share in 3 years time
byfocusing on world Class services at competitive pricing.

The Company has since commenced business during March 2Ñ.

 "

As part of the Bank¶s overall corporate strategy to enter into new businesses, theBank
has identified the establishment and management of Private Equity funds as one of
theimportant new initiatives. The Bank has made significant progress in this area.
The Bank has already set up an Infrastructure Fund in collaboration with
MacquarieGroup, Australia and IFC, Washington to invest into Indian Infrastructure
sector. Allnecessary regulatory approvals have been obtained. The first closing of the
internationalleg of the fund was done with commitments of USD Ñ.37 billion (including
SBI¶scommitment of Rupee equivalent of USD Ñ million . The fund raising of the
Domestic Legof the Fund is in progress.

The Bank is in the process of signing a Joint Venture agreement for setting up aGeneral
Purpose Private Equity Fund with Sovereign entities of Oman.

# 
"›



During the year, the Bank decided to foray into Merchant Acquiring Business
(MAB .There are only  lacs Point of Sales (PoS terminals in India as against a
merchant baseof Ñ million. The Bank plans to deploy  lacs Point of Sales terminals
during first fiveyears of its operations. The deployment will be across all geographies
viz., Metro, Urban,Semi-urban and rural. The initiative would facilitate Bank¶s debit card
acceptanceacross the country as the facility is presently available at Metro, Urban and
touristcentres only. It is proposed to conduct the Merchant Acquiring Business under a
separatecompany with an experienced and reputed global partner. The Bank has since
finalised VISAINC. and ELAVON as JV Partner.

V''
%'
›
'.'))%/

V%
%'%%)'%!

The asset level of foreign branches (excluding subsidiaries rose by 2
, from
USD2Ñ.2 billion in March 2
to USD 27.7 billion in March 2Ñ. During FY 2Ñ,
netcustomer credit grew by 27 from USD Ñ7,Ñ million to USD 2Ñ,Ñ million,
customerdeposits grew by 42, from USD ,7Ñ million to USD
, million and net
profit rose by, from USD Ñ44 million to USD 22 million.

%

 
 

The number of foreign offices increased from
2 as on 3Ñst March 2
to Ñ42as on 3Ñst
March 2Ñ spread across 32 countries. The offices comprised 42branches, 
Representative Offices, 2 marketing offices, 2 sub offices, 2 extensioncounters, 2
offices of the six foreign banking subsidiaries, an associate (Bank ofBhutan , equity
investments in a foreign bank (Sterling Bank, Nigeria and 2 managedexchange
companies.

New Offices opened during the year are as under^

six new overseas offices at Clementi, Marine Parade and Toa Payoh in Singapore,
Kowloonin Hong Kong, Harrow in UK and Lenasia in South Africa,
one branch by the Bank¶s wholly owned USA subsidiary, SBI (California Ltd.,
atWashington DC and

, 3 and Ñ offices respectively by the Bank¶s other overseas subsidiaries namelyBank

SBI Indonesia, Nepal SBI Bank Ltd. and SBI Mauritius Ltd.

The Bank increased its stake from  to  in Nepal SBI Bank Ltd during the FY
2Ñ,making it the Bank¶s sixth foreign banking subsidiary.


#  


Despite volatile global market conditions, the Bank¶s foreign offices

maintainedcomfortable liquidity position. During the year, the Bank raised, through its
foreignoffices, USD 7 million for  years, under the Bank¶s MTN programme. This
issue inOctober 2
was concluded at the tightest Asian senior debt pricing (mid swap
plus Ñ
bps in the USD bond market.

'›


NRI Deposits grew by Rs. Ñ,7 crores during the year and reached a level of Rs.
,Ñ7crores in March 2Ñ. Advances to NRIs recorded a growth of Rs. Ñ2 crores
withoutstandings of Rs. Ñ,3 crores as on 3Ñst March 2Ñ.

Remittances grew from Rs. 27,32 crores in FY 2
to Rs. 37,3Ñ
crores in FY
2Ñ,clocking a growth of 3. The Bank had a tie-up with 22 exchange companies for
routingremittances through SBI.

During the year, seven new NRI branches were opened at Baroda, Ludhiana,
Mangalore,Nawashahar, New Delhi, Pune and Salt Lake (Kolkata , taking the number of
NRI branchesfrom Ñ3 to 2.

International toll free numbers were operationalised in Ñ7 countries for

improvedcustomer care.

V %#!%
%'!

# › 9

The Bank retained the leadership as Mandated Lead Arranger and Book Runner
forsyndicated loans in Asia Pacific (excluding Japan but including Australia in 2
.
Twelvesyndication deals aggregating USD Ñ,4 million and Ñ bilateral deals
aggregating USD73 million were concluded in 2
-Ñ. Seven merger and acquisition
deals aggregating USD7,43 million with Bank¶s participation level of USD 74 million
fructified duringthe year.

) - 9!
:)!
GLS, a specialized outfit, caters to speedier processing of transactions. In the
year2
-Ñ, GLS on behalf of domestic branches, handled Ñ,3,
export bills and
Ñ,2,
Ñforeign currency cheque collections aggregating USD Ñ4.
billion. In addition,
it handled2
,24,4 inward remittance transactions amounting to USD 2.
4 billion from
variouscentres in the Middle East, UK and USA.

 
   

The Bank has entered into correspondent banking arrangement with 2
reputedinternational banks to extend seamless services to varied clients. These
correspondentBanks are located in Ñ24 countries. The Bank also has 2,Ñ
Relationship ManagementApplication (RMA arrangements for SWIFT, facilitating
speedier flow of financialmessages.

  
9 › 9


The Bank has in place Country Risk Management Policies in tune with RBI
guidelines.These policies outline a robust risk management model with prescriptions for
Country,Bank, Product and Counterparty exposure limits. Both Country-wise and Bank-
wise exposurelimits are monitored and reviewed on a regular basis. The exposure
ceilings andclassifications are moderated in line with the dynamics of their risk profiles.
Periodicalcorrective steps are initiated to safeguard the Bank¶s interests.


!!%
!
' !/›! 
!

 The State Bank Group with a network of Ñ7,337 branches including 4,4Ñ
branchesof its six Associate Banks dominates the banking industry in India. In addition
tobanking, the Group, through its various subsidiaries, provides a whole range of
financialservices, which include Life Insurance, Merchant Banking, Mutual Funds, Credit
Card,Factoring, Security trading, Pension Fund Management and Primary Dealership in
the MoneyMarket.



 › 9

SBI¶s six Associate Banks had a market share of .3 in deposits and .
inadvances as on last Friday of March 2Ñ.

 - 8 
V

 

 › 9
:
›


(Amounts in Rs. crores

 1*1**+

 1*1**  :6
Total Assets 3,Ñ2,
43 3,
,Ñ Ñ4.72
Agg. Deposits 2,4,77
3,2,3 Ñ4.37
Total Advances Ñ,
,3 2,2, Ñ.Ñ2
Operating Profit ,4
. ,
.72 2.
Net Profit 2,774.47 3,2.7 Ñ7.74
Credit Deposit Ratio 7. 7.4
 .4

Capital Adequacy Ratio Ñ2.
 Ñ3. .7
Gross NPA 2,

.
Ñ 3,

7.7 4.
Net NPA Ñ,Ñ
Ñ.2 Ñ,
Ñ.
4.2
Return on Equity Ñ
.3 Ñ.73 -Ñ.Ñ

1!›

 ?   › 9:!›

As at the end of March 2Ñ, the aggregate deposits and total advances of SBICI
stoodat Rs. 4
Ñ.2 crores and Rs. 27.
 crores respectively. The Bank recorded an
operating andnet profit of Rs.3.34 crores and Rs.3.Ñ4 crores respectively. The net NPAs
as at the endof March 2Ñ was NIL.

2!›  # 9


:!›


On 2
.3.2Ñ, SBICAP has become a wholly owned subsidiary of SBI by buying out
theentire shareholding (Ñ3.4 of Asian Development Bank in SBICAPS.

SBICAP is a full service investment banking outfit offering Project Advisory

Services,arrangement of Structured Finance, Capital Market Services like Equity
Issuances, Mergers& Acquisitions and arrangement of Private Equity etc. The
Company, during the year,has further consolidated its dominant position as arrangers of
debt for the corporatesector both in the infrastructure as well as non-infrastructure
sectors.

The following achievements are some of the recognitions won by the Company during
theyear^

‡ IFR Asia has awarded the company as India Loan House of the year.

‡ The Company has been conferred with "Bank of the year" in Asia Pacificby Thompson
Reuters (PFI for Leadership in Project Finance.

‡ Power Deal of the Year (Sasan , Road Deal of the Year (Yamuna Expressway
andTelecom Deal of the Year (Aircel by Euromoney.

‡ Oil & Gas Deal of the Year (Cairn India by Thomson Reuters (PFI .

‡ Ranked No. Ñ in^

i. Mandated Lead Arranger ± Global PF Loans with Ñ4.3 Market Share.

ii. Financial Advisor- Global PF Loans withÑ7.3 Market Share.

iii. Loans Mandated Arranger Asia ex-Japan with Ñ7. Market Share.

iv. Loans Book Runner ± Asia ex-Japan with Ñ. Market Share.

‡ The company has posted a PAT of Rs. Ñ.Ñ crores as on 3Ñst March2Ñ as against
Rs.
2. crores (excluding extraordinary income of Rs. 74.
 crores as on3Ñ.3.2
,
registering YoY growth of 3.Ñ.

‡ Declared an interim dividend of Ñ4.

= !›
!

:!!

SSL, which commenced its operations in June 2, is a broking company offering
equitybroking services to retail and institutional clients both in cash as well as in
Futuresand Options segments. It is also engaged in Sales & Distribution of other
financialproducts like Mutual Funds etc. The Company has launched e-broking services
to the clientsof SBI and Associate Banks. SSL has 7 branches and Ñ7 franchisees and
offers Demat,e-broking, e-IPO and e-MF

 - + 
V

 

 › 9

 # **

(Rs. in
crores
'
  !›@

    % 



 
' 
› 9   :6  
! › 9 
Bikaner &
7 4,
3,3
3.73 4.Ñ
Jaipur
Hyderabad Ñ 7,2 3,344 Ñ,72.7
22.7Ñ
Indore
. 3,4 23,
43 73.23 37.77
Mysore
2.33 3,437 2
,74
37.4 44.77
Patiala Ñ 4,
3 4,

 Ñ,37.7Ñ .

Travancore 7 4
,4
Ñ 3,
Ñ Ñ,. 4.27

4› 9
1A*A81= A8A4*= 4A=+8> 1A44=>

services to both retail and institutional clients. SSL currently has more than
Ñ,Ñ,customers in their books, which include more than , e-broking clients.
The Companyhas posted a profit of Rs..ÑÑ crores as on 3Ñ.3.2Ñ as against a loss
of Rs.Ñ.32 croresas on 3Ñ.3.2
.

4 !›
!3


:!3

SBICAPS Ventures Limited (SVL , a USD Ñ million Venture Capital Fund, jointly
heldwith SBI Holdings Inc. (Softbank , Japan. The Fund has invested USD  million in
twocompanies and a number of investment proposals are being examined. The scope
of the fundcovers all sectors except real estate and financial services. The Company
has posted aprofit of Rs.Ñ. crore as against a loss of Rs..7 crore as on 3Ñ.3.2
.

> !›
:/.

SBICAP (UK Ltd., a three year old Company, has booked revenue of Rs.4.4 crores up
toMarch 2Ñ as against Rs.2.Ñ4 crores as on March 2
. The company has posted a
net profitof Rs.Ñ.
2 crores as on March 2Ñ, as against Rs..44 crore in the
corresponding periodlast year due to diversification of income streams.

8!›
/! :!

SBICAP TRUSTEE Co Ltd (STCL has commenced security trustee business with
effect from ÑstAugust 2. The Company¶s gross income for the year ended
3Ñ.3.2Ñ isRs.3.7 crores and net profit is Rs.Ñ.
4 crores.

+!› V

‡ SBI group holds 7.Ñ share in the Company, which is a primary dealer.

‡ For the period ended 3Ñst March 2Ñ, the Company¶s PAT wasRs.
.23 crores as
against Rs. .
4 crores as on March 2
with YoY growth of 33.

‡ Increased market share in the Primary Dealer Segment from Ñ4.24 to Ñ7..

‡ The Company is rated No.Ñ in the league of Primary Dealers in India.

*!› 
?

!
:!›!

‡ SBI Cards, the only stand-alone credit card issuing company in India, is a jointventure
between State Bank of India and GE Capital Services, wherein SBI holds  stake.

‡ The "Cards in Force" (CIF of the Company stands at 2.2 lacs and thereceivables
are at Rs. Ñ,7 crores at the end of March 2Ñ.

‡ The Company has posted a Loss before Tax of Rs. Ñ3.4 crores as on March 2Ñ
asagainst a Loss before Tax of Rs. Ñ.Ñ2 crores as on 3Ñ.3.2
.

‡ SBI Cards has emerged as the most trusted brand by being the undisputed
GoldAward winner in Reader¶s Digest Trusted Brands Survey 2
in Credit Card
category.

‡ Launched "mShop" a unique mobile application that will allow theCardholders to make
purchase on their mobile.
!›
 
  
:!›

‡ SBI Life has a unique multi-distribution model comprising Bancassurance,

RetailAgency & Institutional Alliances and Group Corporate Channels for distribution
ofinsurance products.

‡ Ranked Ñst worldwide in terms of number of Million Dollar Round Table(MDRT

members.

‡ CARE has assigned iAAA rating to the company for consecutive 3 years in a row.

‡ Company tops the list of private sector insurance companies, improving itsposition
from 2nd rank in terms of New Business Premium, as per IRDA rankings.

‡ Gross Premium of the Company has crossed the milestone of Rs. Ñ, crores
toRs.Ñ,Ñ4 crores as on 3Ñ.3.2Ñ registering a YoY growth of 4.

‡ The market share of SBI Life in the total industry improved to .44 as against in
March 2
and to Ñ.34 amongst private insurers from Ñ as at March 2
.

‡ Recorded a PAT of Rs. 27 crores as on 3Ñ.3.2Ñ as against a loss of Rs. 2crores
as on 3Ñ.3.2
.

‡ The µAssets Under Management¶ of SBI Life recorded a growth of
 YoYto reach
Rs. 2,Ñ crores.

‡ Number of new Individual policies written during 2
-Ñ is Ñ3.3 lacs asagainst
.37
lacs during the same period last year.

!›
#  
::!›#

‡ SBIFMPL, the Mutual Fund arm of SBI, is the 7th largest Fund House interms of
"Assets Under Management" and a leading player in the market with .
million
investors.

‡ The schemes of the Fund House have performed consistently over the years andhave
emerged as the preferred investment for investors.

‡ The company has posted a PAT of Rs. 7.7 crores as on 3Ñ.3.2Ñ registering
YoYgrowth of Ñ.

‡ The average "Assets Under Management" (AUM of the company as at March2Ñ

stood at Rs. 37,4Ñ7 crores (market share .Ñ .

1!›) -   
:!)
‡ The merger of SBI Factors & Commercial Services Private Ltd. with GlobalTrade
Finance Ltd. has been completed on ÑÑth February 2Ñ after obtainingnecessary legal
and regulatory approvals.

‡ The merged entity is now called as "SBI Global Factors Ltd."

‡ The merger of two subsidiaries was effected to improve the market share indomestic
and international factoring business as also to have synergy in operations andoptimising
efficiency.

‡ SGFL commands  plus market share in this niche segment of factoring.

‡ The recession in the economy has severely impacted MSMEs and exports leading
tosharp rise in delinquencies in the factoring portfolio of SGFL.

‡ During the year ended 3Ñst March 2Ñ, the turnover of the companywas Rs. Ñ2,
7
crores.

‡ The company earned a PAT of Rs.. crores as on March 2Ñ.

2!›
 
:!›

‡ SBIPF is one of the three Fund Managers appointed by Pension Fund Regulatory&
Development Authority (PFRDA for management of Pension Funds under the New
PensionSystem for Central Government (except Armed Forces and State Government
Employees. SBIPF,a wholly owned subsidiary of the State Bank Group, commenced its
operations from April2. SBIPF has got the mandate to manage 4 of the total
corpus of pension fundsreceived under the New Pension System.

‡ The total "Assets Under Management¶ of the company as on 3ÑstMarch 2Ñ was Rs.
2,277. crores (YoY growth of
4.Ñ2 .

‡ The Company recorded a net profit of Rs.2. lacs.

‡ During the financial year, the company has been leading consistently in theGovt.
Pension Scheme and State Govt. Scheme and has been in Ñst or 2ndposition in a few
other schemes.


    


  

 
?!-
 

‡ Government of India has given in-principle approval to the Bank for acquiringState
Bank of Indore, one of its Associate Banks and the proposal is awaiting finalapproval
from RBI and GoI.
‡ The Bank has also decided to merge SBICI Bank, a wholly owned domestic
bankingsubsidiary, with itself to bring about further synergy and efficiency. Necessary
approvalis awaited from the Government of India.

‡ The Bank has merged SBI Factors & Commercial Services Pvt. Ltd with GlobalTrade
Finance Ltd., and the merged entity is now known as "SBI Global FactorsLtd."

‡ Credit Agricole S.A. (CA and Societe Generale (SG have combined their
assetmanagement operations and renamed it as Amundi, which is set to combine the
entirety ofCAAM group, the asset management arm of CA and the European and Asian
activities ofSG¶s asset management business, SGAM, as well as 2 of TCW, its asset
managementsubsidiary in the USA. The combined entity will be the 4th largest
assetmanager in Europe and the
th globally. As part of this, the shares of
SBIFMPLheld by SGAM will be transferred to Amundi. An application has been made
with SEBI fornecessary approval, which is awaited.

à
!!0/


'
#  


The position of NPA reduction as on 3Ñ.3.2Ñ is given hereunder^

 - *

0  :
 

Ñ Gross NPAs Ñ
,3
Gross NPA Percentage 3.
2 Net NPAs Ñ,7
Net NPA Percentage Ñ.72
3 Cash Recovery in NPA 2,

4 Up-gradation to Standard Assets
 Write offs Ñ,

Ñ
 Gross reduction in NPAs (3+4+ ,22
7 Fresh slippages of Standard Assets to NPA category ÑÑ,43
 Recovery in written off accounts



‡ Restructuring of impaired Standard Assets as well as viable non-performingassets,

both under CDR mechanism as well as under the Bank¶s own scheme, have beengiven
top priority for arresting new additions and reducing the existing level of NPAs.

‡ Proactive steps have also been taken for prevention of NPAs.

‡ The Bank referred  cases with aggregate exposure of Rs. 2,

 crores to
CDRmechanism this year out of a total of 3Ñ cases with aggregate exposure of Rs.
2,Ñ4 croresreferred to CDR by the Whole Banking system. Thus, our share in the
debt in the casesreferred was Ñ4. by value. In all cases, timely intervention enabled
the accounts toretain their standard asset status.

‡ 3 Financial Assets involving principal outstanding of Rs. 23.4 crores have beensold to
other banks/ARCs during the year.

.'%#
%'V'%%)

 ', 9  The Bank has implemented a secure, robust and scalable
WANarchitecture connecting Ñ,Ñ
Branches/Offices and 2Ñ,4 ATMs of State Bank
Groupthrough leased lines, VSATs and CDMA technology, supporting all critical
businessapplications.

   › 9  The Bank¶s CBS implementation is among the world¶slargest.

Several technical enhancements, such as multi-streaming of key batch programshave
facilitated elongation of the business operations window. Many importantfunctionalities,
such as, Defence Salary Package, ASBA, Universal Passbook etc., have
beensuccessfully introduced in the application to meet specific requirements of
Govt.,Corporate and individual customers.


# With 2Ñ,4 ATMs, the network of State Bank Group ATM is among thelargest
in the world, offering several value-added services such as Utility Bill Payment,Temple/
Trust Donations, Card to Card Transfer etc. A loyalty Rewards program, the firstof its
kind, was launched to encourage the usage of Debit Cards at PoS terminals. A
keyinitiative is the planned launch of low cost rural ATMs, of which 3 will be powered
bysolar energy. Rolling-out of multifunctional kiosks has been initiated for
offeringfacilities like non-cash ATM transactions, Internet Banking transaction, passbook
printingetc., through these kiosks.

› 9 The Bank¶s Internet Banking product has been rated veryhigh for
its customer friendly user interface and the range of products and servicesoffered to
retail and corporate customers. Some of the new features enabled during theyear
include, online payment of commercial taxes in Ñ States, ASBA, NRI eZ-trade,
PensionSlip, SMS alerts for on-line transactions, virtual keyboard, VISA money transfer,
UPSC/SSCrecruitment application fee payment, e-TDR/ STDR etc. A Loyalty Rewards
program for retailinternet customers was also launched during the year.

 
 !


 )   The year has witnessed a sharp increase in volume of
RTGSand NEFT transactions. A Payment Tracking System has been implemented
through SMS onmobile as also through the Contact Centre to enable customers know
the status of theirRTGS/NEFT remittance. A second Contact Centre on Customer Voice
Portal was set up atVadodara during the year. A complaint Management System has
been implemented at ContactCentre wherein the cash related ATM complaints from the
customers are resolved. Keeping inview the requirement of senior citizens, a Pension
Management System was introduced atContact Centre enabling the pensioners to
make enquiry on their pension details throughContact Centre.
 # - › 9  A host of Mobile Banking services, such as funds
transfers,enquiries, cheque book requests, bill payments, Mobile Top-up, recharging of
DTH services,Demat account enquiry are currently being offered.

 
   $  
  The Enterprise Data Warehouse Project (EDWP
waslaunched during the year. While a few business critical reports are already being
providedby EDWP, the end users will have access to all regular and ad hoc reports
required foroperational and decision making requirements through a web portal in a
phased manner.

  
  !  The Bank has implemented a robust IT Policy

andInformation System Security Policy which is in line with international best
practices.These policies are reviewed periodically and suitably strengthened in order to
addressemerging threats. Regular Security Drills and Employee Awareness programs
are conducted toensure security and increase awareness among staff.

 %

All the application/database instances of our Ñ2 foreignoffices in
23 countries are now centrally located at the Bank¶s Data Centre atBelapur, with the
Disaster Recovery Site located at Chennai. Internet banking has beenextended to ÑÑ

foreign offices. 7 ATMs of foreign centres are connected to our ATMSwitch.

      › 9 :› 


 ^ In pursuance to RBI guidelines,
aProject was initiated to bring the RRBs on to CBS platform using
"B@ncs24"application software through the ASP model. As on 3Ñ.3.2Ñ, all branches
of six RRBssponsored by State Bank Group have been migrated to CBS. RRB
computerization on CoreBanking platform will be completed during the financial year
2Ñ-ÑÑ.

! › 9

  
  

  #  
:!›# 
Theinstitute has introduced a variety of training programmes in tune with the
Bank¶srequirements. SBIICM has conducted 2 programmes covering , officials
with a capacityutilisation of Ñ3.
2 during the financial year 2
-Ñ.


, 
 ?
  
 During the year, the Bank has won the following awardsin
the IT area^

‡ Nasscom CNBC IT User Award 2
for the proactive and holistic approach to
ITadoption and the seamless alignment of IT with business strategy.

‡ Financial Innovator Award for Central Plan Scheme Monitoring for harnessing
theflexibility, scalability and reliability of technology to remove obstacles to progress
andcreate new opportunities.

‡ IBA, Finacle & TFCI Banking Technology Awards 2
^ "Technology Bank ofthe Year"
Award.
#
  
%  


L Risk Management & Internal Controls

M Customer Service & Corporate Social

Responsibility

N Corporate Communication & Change

O Organisational Planning

P Right to Information Act.

Q Human Resources Department

R Business Process Re-engineering

S Official Language

T Banking Operation Department

U Super Circle of Excellence

V Credit Policy and Procedures

Department

!.#
'
)#'?''
%'%!


9#  
!›


9#  
!

An independent Risk Governance Structure is in place for Integrated Risk

Managementcovering Credit, Market, Operational and Group Risks. This framework
visualisesempowerment of Business Units at the operating level, with technology being
the keydriver, enabling identification and management of risk at the place of origination.

The Risk Governance Structure in place in the Bank is as under^

‡ The Risk Management Committee of the Board (RMCB has the overall
responsibilityto monitor and manage Enterprise Wide Risk. RMCB is supported by the
Credit RiskManagement Committee(CRMC , Market Risk Management
Committee(MRMC , Operational RiskManagement Committee (ORMC , Group Risk
Management Committee (GRMC and Asset LiabilityManagement Committee (ALCO .
‡ All the above mentioned Committees, except ALCO, are headed by the
ManagingDirector & Chief Credit and Risk Officer who is also the Chairman of RMCB.
ALCO isheaded by the Deputy Managing Director & Chief Financial Officer.

‡ Risk Management is perceived as an enabler for business growth and in

strategicbusiness planning, by aligning business strategy to the underlying risks. This is
achievedby constantly reassessing the interdependencies / interfaces amongst each
silo of Risk andbusiness functions.

›


  

‡ As per RBI Guidelines, the Bank has migrated to Basel II Framework as on 3ÑstMarch
2. Simultaneously, the Bank has initiated the process of fine tuning the systems&
procedures, IT capabilities and Risk Governance Structure to meet the requirementsof
the Advanced Approaches.

‡ Various initiatives such as new Credit Risk Assessment Models, independentvalidation

of Internal Ratings and improvement in Loan Data Quality would facilitateefficient use of
Capital as well as smooth transition to Advanced Approaches.

‡ Efforts are on hand to enhance the degree of awareness at the Operating level
inalignment with better risk management practices, Basel II requirements and
overarching aimof conservation and optimum use of capital.

‡ Keeping in view the changes that the Bank¶s portfolios may undergo instressed
situations, the Bank has in place a Policy which provides a framework forconducting the
Stress Tests at periodic intervals and initiating remedial measureswherever warranted.
The scope of the tests are constantly reviewed to include morestringent scenarios.

1
9#  


‡ Credit Risk Management Process encompasses Identification,

Assessment,Measurement, Monitoring and Control of the Credit Exposures. Well
defined basic riskmeasures such as CRA Models, Industry Exposure Norms,
Counterparty Exposure Limits,Substantial Exposure Limits, etc., have been put in place.

‡ Frequency of Stress Tests in respect of Credit Risk has been increased fromAnnual to
Half-yearly, to identify Credit Risk at an early stage and to initiateappropriate measures
to contain/ mitigate Credit Risk.

2# 9
9#  


‡ Market Risk Management is governed by the Board approved policies forInvestment,

Private Equity & Venture Capital, Trading in Bonds, Equities, ForeignExchange and
Derivatives.
‡ Exposure, Stop Loss, Modified Duration, PVÑ (PV is Price value of Ñ basispoint and
Value at Risk (VaR limits have been prescribed. These limits, along with
otherManagement Action Triggers are tracked daily and necessary action initiated as
required tokeep Market Risk within approved limits.

=%   
9#  


‡ The Bank manages operational risks by having in place and maintaining

acomprehensive system of internal controls and policies.

‡ The main objectives of the Bank¶s Operational Risk Management are tocontinuously
review systems and control mechanisms, create awareness of operational
riskthroughout the Bank, assign risk ownership, alignment of risk management activities
withbusiness strategy and ensuring compliance with regulatory requirements.

‡ The Operational Risk Management Policy of the Bank establishes a

consistentframework for systematic and proactive identification, assessment,
measurement, monitoringand mitigation of operational risk. The Policy applies to all
business and functionalareas within the Bank, and is supplemented by operational
systems, procedures andguidelines which are periodically updated.

4) 
9#  


‡ The State Bank Group is recognised as a major Financial Conglomerate and as

asystemically important financial intermediary with significant presence in
variousfinancial markets.

‡ Accordingly, it is imperative, both from the regulatory point of view as well asfrom the
Group¶s own internal control and risk management point of view, to overseethe
functioning of individual entities in the Group and periodically assess the overalllevel of
risk in the Group so as to facilitate optimal utilisation of capital resourcesand adoption of
a uniform set of risk practices across the Group Entities.

‡ The Group Risk Management Policy applies to all Associate Banks, Banking andNon-
banking Subsidiaries and Joint Ventures of the State Bank Group under the
jurisdictionof specified regulators and complying with the relevant Accounting
Standards, where theSBI has investment in equity shares of 3 and more with control
over management.

‡ With a view to enabling the Group Entities to assess their material risks andadequacy
of the risk management processes and capital, all Group members, includingNon-
banking Subsidiaries are encouraged to align their policies and practices with theGroup,
vide Basel prescriptions and international best practices.

>

 - #  


‡ The Asset Liability Management Committee (ALCO of the Bank is entrusted withthe
evolvement of appropriate systems and procedures in order to identify and
analysebalance sheet risks and setting of bench mark parameters for efficient
management of theserisks.

‡ ALM Department, being the support group to ALCO, monitors the Bank¶s marketrisk
such as liquidity risk, interest rate risk etc., by analysing various ALM reports /returns.
The ALM department reviews the ALM Policy and complies with the Bank¶s /RBI¶s policy
guidelines on an ongoing basis.

‡ The Market Related Fund Transfer Pricing Mechanism has been implemented
forevaluating the business performance of the branches of the Bank.

8   

8 The Bank has in-built internal control systems with well-definedresponsibilities at
each level.

The Bank carries out mainly two streams of audits ± Inspection and Audit,
andManagement Audit covering different facets of Internal Audit requirement. Apart
fromthese, Credit Audit is conducted for units with large credit limits and Concurrent
Auditis carried out at branches having large deposits, advances and other risk
exposures andselected BPR Outfits. Expenditure Audit, involving scrutiny of accounts
and correctness ofexpenditure incurred, is conducted at Corporate Centre
Establishments, Local Head Offices,Zonal Offices, On Locale Regional Offices,
Regional Business Offices, Lead Bank Officesetc. To verify the level of rectification of
irregularities by branches, audit ofcompliance at select branches is also undertaken.
The Department is headed by Dy. ManagingDirector (I&MA , who is functionally
independent and reports to Audit Committee of theBoard (ACB .

8
9 

 


The Inspection system plays an important and critical role in introducing

internationalbest practices in the internal audit function which is regarded as a critical
component ofCorporate Governance. Inspection & Audit undertakes a critical review of
the entireworking of auditee units. Risk Focussed Internal Audit, an adjunct to risk
basedsupervision as per RBI directives, has been introduced in the Bank¶s audit
system.

81
 ?
 - 

All domestic branches have been segregated into 3 groups on the basis of
businessprofile and risk exposures. While audit of Group I branches and credit oriented
BPRentities (excepting SARC is administered by Central Audit Unit (CAU at Inspection
AuditDepartment and headed by General Manager (CAU , audit of branches in Group II
& GroupIII category and other BPR entities are conducted by ten Zonal Inspection
Offices, locatedat various Centres, each of which is headed by a General Manager
(I&A . The audit ofbranches and BPR entities is conducted as per the periodicity
approved by Audit Committeeof the Board (ACB which is well within RBI norms. During
the period from Ñ.4.2
to3Ñ.3.2Ñ, 7,2Ñ7 domestic branches (Group I^ Ñ3,
Group II^ Ñ,77 & Group III^ ,2 were audited.

82
 ›

In the wake of introducing various BPR initiatives, audit process for the BPR entitieshas
been developed and introduced. Taking into account the processes involved in each
ofthe entities, exclusive Audit Report Formats, with appropriate audit queries, have
beenintroduced. These entities are being evaluated on risk parameters only for a score
ofÑ. During the period from Ñ.4.2
to 3Ñ.3.2Ñ, 237 BPR entities (Group I^
ÑÑ& Group II^ Ñ22 were audited.

8=



A number of new centres have been brought under the gamut of BPR and several
branchesare in the process of being linked with BPR entities. To be able to identify and
mitigatethe risk at such branches, where the process is still underway, the department
hasintroduced an initiative called "Cluster Audit", wherein a simultaneous audit ofBPR
entities and branches in a particular centre is taken up. A successful pilot run wastaken
up at Ernakulam (37 branches , Hyderabad (ÑÑ4 branches and MCRO, Mumbai
(branches , Chennai (
 branches and Delhi (Ñ branches centers. This brought to
lightthe audit health of the centre.

84#  



With the introduction of Risk Focussed Internal Audit, Management Audit has
beenreoriented to focus on the effectiveness of risk management in the processes and
theprocedures followed in the Bank. Management Audit universe comprises the
Corporate CentreEstablishments Circles / Zonal Offices / On Locale Regional offices /
Regional BusinessOffices Associate Banks Subsidiaries (Domestic / Foreign  Joint
Ventures (Domestic /Foreign , Regional Rural Banks sponsored by the Bank (RRBs 
Representative Offices abroadand Exchange companies managed by State Bank of
India etc. During the period fromÑ.4.2
to 3Ñ.3.2Ñ, Management Audit of Ñ

domestic offices / establishments wascarried out.

8>


Credit Audit aims at achieving continuous improvement in the quality of

CommercialCredit portfolio of the Bank through critically examining individual large
commercialloans with exposures of Rs.  crores and above. Credit Audit System (CAS ,
which has beenaligned with Risk Focussed Internal Audit, assesses whether the Bank¶s
laid downpolicies in the area of credit appraisal, sanction of loans and credit
administration aremeticulously complied with. CAS also provides feedback to the
business unit by way ofwarning signals about the quality of advance portfolio in the unit
and suggests remedialmeasures. It also comments on the risk rating awarded and
whether it is in order. CreditAudit carries out a review of all individual advances above
the cut off within  months ofsanction / enhancement / renewal and a post sanction
audit once in Ñ2 months. During theperiod Ñ.4.2
to 3Ñ.3.2Ñ, on-site Credit
Audit was conducted in 42 Branches,covering 4,727 accounts with aggregate
exposures of Rs. 4,Ñ7,2
 crores. Off-site CreditAudit was conducted in all Circles
(including MCROs / CAG functioning in the geographicalarea of the respective Circles
during the same period, covering 3,33 accounts (domestic with aggregate exposure of
Rs. Ñ,
4,4 crores and ÑÑ accounts (foreign with aggregateexposure of USD 4,33
million at IBG, CC, Mumbai.

88 
 !




Since April 2, all the Branches are being subjected to Information Systems (IS audit
to assess the IT related risks as part of audit of the branch. A µHandbook onSelf Audit of
Information Systems¶ was introduced to facilitate branches forevaluating the efficiency
level of IT systems. IS Audit of centralized IT establishmentshas commenced in January
27. During the period from Ñ.4.2
to 3Ñ.3.2Ñ, IS Auditof 2 centralised IT
establishments / process audit was completed.

8+ %




Home Office Audit was carried out at 23 branches during 2
-Ñ, which
includedInspection and Audit of Ñ branches, Management Audit of 2 Representative
offices, 2Subsidiaries and Ñ Joint Venture Commercial Bank of India LLC. All branches
inspectedduring the year were rated A+/A on a scale of A+ to B-.

8*%!


In order to make the audit system more µprocess oriented¶ thanµtransaction oriented¶ and
draw heavily on technology, the Bank has beenexperimenting with Off-site Audit, which
will be an aid to the Risk Focussed InternalAudit currently being conducted at all
branches. Several reports are generated off-siteand the critical areas identified before
the inspection team visits the branch. Thisresults in focus on the critical areas, minimum
disturbance to the branch customers /staff and saving of precious man days, as the
audit would be conducted in the leastpossible time.

8  
 !


 Concurrent Audit system is essentially a
controlprocess integral to the establishment of sound internal accounting functions
effectivecontrols and overseeing of operations. It works as a tool for the Controllers
ofoperations for scrutiny of day-to-day operations. Concurrent Audit System is reviewed
onan on-going basis as per the RBI directives so as to cover 3-4 of the
Bank¶sDeposits and -7 of the Bank¶s Advances and other risk exposures.
Inspection &Audit department prescribes the processes, guidelines and formats for the
conduct ofconcurrent audit at branches and BPR entities. As on 3Ñ.3.2Ñ, the system
covered 34.77of deposits and 3.
3 of advances and other risk exposures of the
Bank.

+ 3  The raison d¶tre of vigilance activity in the Bank is not toreduce but
enhance the level of managerial efficiency and effectiveness in theorganization. Risk
taking is integral part of the banking business. Therefore, every lossdoes not
necessarily become subject matter of vigilance enquiry. Motivated or recklessdecisions
that cause damage to the Bank are essentially dealt as vigilance ones. TheVigilance
Department in the Bank works on these principles. Apart from investigation andpunitive
aspects, Vigilance Department is actively involved in the preventive measures.

Considering the size of our Organization, we have set up vigilance departments at

eachof the Circle. The Vigilance Department at Circles are headed by Deputy General
Managers.At Corporate Centre, Vigilance set up is headed by Chief Vigilance Officer of
the rank ofChief General Manager. The department reports to the Chairman directly and
conducts itsaffairs independently. CVC guidelines are followed in letter and spirit in
itsfunctioning.

#/!%#!3?%%
!%
!%'!›

#/!%#!3

As an ongoing transformational exercise, the Bank has undertaken a new HR

initiativecalled µCitizen SBI¶. Rolled out on Ñst September 2
, covering morethan two
lac employees of the Bank, Intervention-I of this unique self discovery programmeaims
at rapid diffusion of µCitizenship Ideal¶ among the staff members acrossthe Bank. Staff
members already familiar with the Citizenship Ideal will take theinitiative forward by
developing and practicing the art of fulfilling customer needsthrough the second
intervention of the programme called µCustomer FulfilmentProgramme¶.

To focus on market, a third intervention called µMarket Engagement programme¶will be

rolled out for Regional Managers involving Branch Managers and General
Managers.The objective of this Intervention is to build a µMarket Engagement
Framework¶by the Regional Managers for the individual communities or a collection of
individuals inhis/her Region to establish leadership in the market. In order to engage
Senior Managementclosely with the Citizenship Ideal in the ongoing Transformation
journey, a"Citizenship Enablement Visioning Programme" under Intervention-IV will
belaunched.

The Grievance Redressal Policy of the Bank is formulated on the basis of the
ModelPolicy Framed by Indian Banks Association and complying with the provisions of
the revisedCode of Commitment to customers released by Banking Codes and
Standards Board of India inAugust 2
. Branches are required to redress customer
grievances within three weeks ofreceipt against the time line of 3 days prescribed in
the Code.
An analysis of Customer Grievances is being monitored by the Central Board
everyquarter and remedial measures taken to identify the systemic issues that
needrectification.

A Contact Centre has been established with toll free number for providing informationon
products and account enquiries to customers on 24x7 basis.

The Contact Centre initiative has stabilised well in the year 2
-Ñ and nearly
thousand customers are availing the facilities daily. A second Contact Centre was
added inAugust 2
. The Contact Centre is undertaking following services for
customers ^-

‡ Information on Account Balances and transactions details, along with the

productenquiries.

‡ Complaints for discrepant ATM cash transactions through a Complaint

ManagementSystem.

‡ Pension detail for pensioners through Pension MGT Software.

‡ Transactional facilities e.g. Cheque issues etc.

#%%
!%
!%'!›

Corporate Social Responsibility has been a part of the State Bank of India since
Ñ
73under the name of Community Service Banking covering various social,
environmental andwelfare activities.

The stated Corporate philosophy is as follows ±

‡ The Bank is a corporate citizen, with resources at its command and benefitswhich it
derives from operating in the society in general. It, therefore, owes a solemnduty to the
less fortunate and underprivileged members of the same society.

‡ Staff members are expected to make their contribution by understanding

theaspirations of the public around them and by endeavouring to evolve measures to
remove theapolitically indisputable social and developmental lacunae.

During the financial year 2
-Ñ, the Bank implemented Ñ3 projects with
donationsaggregating Rs. Ñ
.72 crores. Numerous welfare and social activities were
implemented bothin Banking and Non-Banking areas with the basic aim of raising the
quality of life in thecommunity, especially in and around the area of operation of the
branches. Particularattention was given to ameliorating the condition of the
downtrodden and underprivilegedcommon man.

Currently, the focus areas under Community Service Banking are

‡ Health

‡ Education

‡ Adoption of Girl Child

‡ Women¶s empowerment

‡ Child development

‡ Welfare and rehabilitation of poor and handicapped

‡ Assistance to poor and underprivileged

‡ Entrepreneur development programmes

‡ Vocational guidance

‡ Thrust for assistance to IT education in Rural/Tribal/unreached areas

‡ Environment Protection

‡ Assistance during natural calamities.

 (
**+*

 

 !› 9

 ÑÑ4 projects were assisted with Rs..
3 crores covering the areas of
Health,Education, Assistance for Handicapped, Sports, Environment and Assistance to
tribals &other underprivileged members of the society.

- '    


  Projects amounting to Rs..22 crores were undertaken
forproviding relief and rehabilitation to victims of Natural Calamities. Of this
Rs..Ñcrores was donated to the Chief Minister¶s Relief Funds of 4 States.


    )   Society¶s preference for the boy child resulted ina large
number of instances when the girl child was deprived of familial attention,education,
affection, healthcare, in extreme cases, even food etc. This saw a highincidence of
female infanticide or ill-treatment of girl children.

As a part of its commitment to the welfare of our society, the Bank decided to adoptGirl
Children in the age group of  to Ñ4 who were orphans, destitute,
physicallyhandicapped, belonging to poor families.
This initiative was started in 2 with ,33 children. There are presently Ñ
,34girl
children covered under the scheme. These belong to , schools spread all over
thecountry and have been adopted by ,72 branches. An assistance of Rs.4.4 crores
wasextended during Financial year 2
-Ñ.

Apart from financial assistance, individual employees from the Bank/spouses

ofemployees or members of SBI Ladies Club adopt one or two children for care,
mentoring,counselling, to try and fulfill the role of a guide. This includes periodic visits to
theschools by Staff Members / SBI Ladies Club Members, talking to the girl child
tounderstand her difficulties, academic or otherwise, and offering solutions. A
closeliaison is also maintained with the teachers and the academic progress of the girl
childis monitored. If felt necessary, timely corrective action is suggested.

While gradually increasing the coverage, the Bank has emphasized that individual
careand attention to the adopted children as originally envisaged, should not be diluted.

? 

The Bank has set up a chair named µIndian Observatory and IG Patel Chair¶ atAsia
Research Centre of the London School of Economics jointly with the Reserve Bank
ofIndia. In addition, the Bank has established an µSBI Chair for PublicLeadership¶ in the
Indian School of Business, Hyderabad. These 2 chairs have beenassisted with
donations amounting to Rs.2.73 crores during FY 2
-Ñ.

#1!›<
$ 

Apart from the projects reported above, the SBI Children¶s Welfare Fund, which wasset
up with donations from the employees of SBI with matching contributions from the
Bankto assist underprivileged and poor children in their educational and economic
development,undertook  projects during FY 2
-Ñ and distributed grants of Rs.4.
lacs for childwelfare projects.

#2)› 9 

 › 9

Global warming has become a serious issue attracting attention from all the Nations
ofthe world warranting urgent measures to combat the climate change, which may
otherwiseresult in irregular Monsoons, floods, draughts and uneven temperatures,
altogether keepingthe existence of flora and fauna of the universe at stake. As the
Country¶s PremierFinancial Conglomerate providing financial resources and services to
clients pan India,the Bank has a strategic role to play in addressing this issue, both in
terms of itsobligations and in terms of its opportunities.

Being a responsible     B of the country, the Bank has adopted aGreen
Banking Policy with an objective of contributing towards the fight against theadverse
climatic changes. The policy envisages two pronged approach to address the issueviz.
i to reduce the Bank¶s own carbon footprint and ii to sensitise theBank¶s clients to
adopt low carbon emission practices. As part of the Bank¶sinitiatives to move towards
low carbon operations, the Bank has initiated severalmeasures, which include switching
over to energy efficient lighting systems, installationof energy savers, efficient water
management systems, waste disposal and tree plantationetc.

First of its kind in the entire Banking, Finance and Insurance Sector (BFIS , the
Bankhas conceptualised generation of energy through renewable energy resources and
therefore,resolved to install windmills for the Bank¶s captive use with a view to
substitutethe polluting power with green power. A total of Ñ windmills with an installed
capacityof Ñ MW came up in the States of Tamilnadu, Gujarat and Maharashtra. The
project has beeninstalled and commissioned in a record time of four months which
reflects the Bank¶ssincerity and urge in its efforts to protect the environment and
mankind.

#=  

 

Considering the fact that a majority of .3 lacs habitations in India are not servedby
any Commercial Bank or Regional Rural Bank, the Bank took upon itself the task
ofreaching out to these unbanked villages and making available the basic banking
facilitiesat affordable cost. Thus, the Bank envisioned a mission of covering Ñ lac
unbankedvillages by March 2Ñ.

The realization that the job demands highly innovative and technological initiative inview
of the fact that brick and mortar branches alone were not sufficient to reach out,the
Bank decided to take on multi-pronged approach of engaging Business Facilitators
(BF ,Business Correspondents (BC and technological innovations to cover the
unbanked villagesbesides expanding through new branches.

In the process, the Bank engaged Ñ National level partners as BC /BFs and ,
BC/BFsas regional level alliances. The alternate channel of BC/BF expanded its
footprints at2, Customer Service Points throughout the length and breadth of the
country forserving unbanked villages. The Bank also added Ñ,Ñ new branches during
the last twoyears in Rural and Semi Urban areas to contribute to this national cause.

#4   
,#      ) #
- 

The Municipal Corporation of Greater Mumbai (MCGM has launched a project to

transformand upgrade the outcome of education in schools run by the Municipal
Corporation. The Bankhas agreed to support this project as a partner for a period of 2
years as this projectmay evolve as a model for replication across the country. The
project has the followingobjectives^

‡ Improvement in average learning outcomes from 3-3 to 7-.

‡ Improvement in student attendance from - to
+.

‡ Reduction in drop-out rates especially at upper primary level.

‡ Enabling at least 3- of the children to speak English comfortably.

‡ At least 2 of secondary school children getting strong vocational training.

‡ At least 2 of parents being highly involved in the child¶s learning.

‡ Creating infrastructure of the right quality in each school.

'%%
%##/'
%'?V
')

‡ During the year, a new transformational programme titled "Citizen SBI"envisaging

deep- rooted, multi-level attitudinal change and transformation consisting ofwaves of HR
interventions was rolled out to instill a feeling of Citizenship among allemployees of the
Bank. The purpose of this ambitious programme was to give a sense offulfillment to our
2 lacs plus employees and thereby to make a remarkable improvement inthe services
provided by the Bank to its customers as also to society at large.

‡ Citizen Orientation Programme, the first intervention of the above Project tointroduce
the ideal of Citizenship and its benefits to individuals was taken to each andevery
employee of SBI between September 2
and February 2Ñ.

‡ Staff members already familiar with the citizenship ideal will take theinitiative forward
by developing and practicing the art of fulfilling customer needsthrough Intervention ± II
of the programme called "Customer FulfillmentProgramme". Pilot projects of the
programme have already been rolled out and a largenumber of Regional Customer
Fulfillment teams have been formed. Final roll-out ofIntervention II to cover all branches
and other customer facing units of the Bank willstart from June, 2Ñ.

‡ Two other interventions of the Citizen SBI Project will be launched during2Ñ-ÑÑ.
One, the Market Engagement Programme for senior functionaries to equip them
toidentify and meet the needs of communities/clusters in their respective areas
ofoperations, thereby becoming a pro-active enabler instead of a mere service
provider.Second, the Citizenship Vision Programme for engaging the Senior
Management in the ongoingtransformation journey.

‡ "Citizen SBI", a new website has been launched during the year toenable employees
to share their views and experiences after exposure to the programme.Stories regarding
involvement of our staff members in worthy causes are placed on thewebsite besides
providing a platform to all our employees to send their feedback and viewsdirectly to the
Top Management of the Bank.

‡ A "Top Management Conclave" involving the Chief General Managers andabove was
held in Goa from the Ñ3th to Ñth December, 2
toidentify the initiatives as a part of
"SBI Transformation Agenda 2Ñ-2Ñ3" andto work out on the strategies for effective
implementation of the Business Initiatives,Enabling Initiatives and the People Initiatives.

‡ A corporate film on SBI is being made by Discovery Networks focusing on itshistory,

how it has evolved by bringing in modern banking in India and the people behindthe
scenes. This will immensely help in the Bank¶s image building both in India andabroad.

‡ Internal communication in the Bank is also being enhanced by showing video clipson
important banking events and sharing developments in the Bank / corporate goals /
bestpractices etc., with the employees. Such communications are also made through
theBank¶s in-house quarterly magazine "Colleague" to reach out to our staff inthe
remotest corners of the country.

%%)
'!
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% 
   
^

‡ During the year, a Payment Strategy Group, headed by a Chief General Manager
hasbeen created with a view to capture the payment opportunities which is expected to
growand increase our share from present Ñ3 to at least Ñ7.

‡ Creation of DGM (Operations in Circles controlling the 4 Metros i.e. Mumbai,Delhi,

Chennai & Kolkata to take care of non-credit CPCs.

‡ The organisational structure of the International Banking Group has beenreorganized

with a view to build capabilities to achieve and manage scale throughcompetencies
around business models and geographies, ensuring effective interaction withthe
domestic operations of the Bank and speeding up the decision making process.
Newpositions of General Manager (Retail and Subsidiaries and General Manager
(Compliance& Risk have been created and General Manager (Marketing & General
Manager (IS has been rechristened as General Manager (Wholesale & General
Manager (FinancialInstitutions Group .

‡ Creation of DGM (Financial Planning & Advisory Services in four Metros.

‡ Financial Institutions Business Unit has been created for targeting financialinstitutions
and to exploit the opportunities in the areas of Cash Management Product,Trade
Finance, Collection, Custodial & Treasury Management Services etc.

‡ Creation of Mid Corporate Group Region, Pune for control over four MC Branchesi.e.
Nagpur, IFB Pune and Commercial Branch at Raipur and Bhilai.

‡ Creation of new Zonal Inspection Office at Bhavnagar.

‡ A New Strategic Training Unit headed by a CGM (L&D has been created tocater to
the ever increasing training needs of the Bank.
)V%'%#
%'
**=:
**=

Suitable structure has been put in place at Branches/Administrative

Offices/RegionalBusiness Offices/Local Head Offices for handling requests and appeals
under RTI Act 2.Further, an exclusive µRTI Department¶ has been created in
Corporate Centre tohandle and co-ordinate various issues under the Act. For
convenience of the public, theBank has also created an RTI link on its website
http^//www.statebankofIndia.com andhttp^//www.sbi.co.in.

0V/#
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V'
3!

A number of key initiatives have been taken by the Bank during the current year
tomotivate the employees to perform better so as to achieve the Bank¶s growth plans.

 ?  


i. Under the leadership pipeline initiative, the services of Duke Corporate

Education,World¶s leading business school for Executive Education along with IIM,
Ahmedabadwere engaged to groom the General Managers to lead the business drive
with customeroriented culture.

ii. JAGRITI- a leadership programme for Branch Managers and unit Heads of CPCs,
whichhas been designed in association with an outside consultant, was rolled out on
2.Ñ.2
and is being conducted both at the College and Academy.

iii. The training system of the Bank was awarded the prestigious C)   9
'     
,  **+C in recognition of adopting the besttraining practices
amongst the 23 Corporates nominated for the same. This is the firstsuch recognition to
our training system outside the Bank.

iv. In order to make 24X7 learning accessible to our employees, Ñ37 e-learning
courseshave been uploaded on the Gyanodaya portal.

Several guided e-learning portals were also conducted to hand-hold employees in

takingthe e-courses.

v. In order to induct specialists into our Bank, ÑÑ7 Management Trainees from B-
schoolswere recruited.

vi. Strategic Training Unit headed by CGM (L&D has been set up at Hyderabad.
TheSTU will own and drive the training system and enhance the self renewal capability
of ourBank by conducting programmes that are the best in the industry.


#  

i. Retired Employees Medical Benefit Scheme (REMBS has been modified by
increasing theceiling on the medical benefits and introducing domiciliary treatment for
the retirees.

ii. Centralised payment of pension to Bank Pensioners has been made operational
throughHRMS.

iii. Investment of Bank¶s Pension corpus through the Treasury Department of SBIfor
better return has been operationalised.


   

i. Massive recruitment exercises have been undertaken during the year to recruit
around22, clerical staff and , officers. This recruitment drive, which is the
largestrecruitment exercise undertaken in the banking sector, will further augment the
staffstrength in tandem with the Bank¶s branch expansion drive and expected
movement onaccount of promotion and retirement etc. This will not only help in reducing
the ageprofile of staff but will also provide an opportunity of greater mobility and
marketingthrust across the Bank to achieve its growth plans.

ii. Senior clerical staff have been empowered with additional supervisory duties
byreviewing career progression scheme. They will shoulder supervisory roles
andresponsibilities, which will facilitate the Bank to utilize the services of officers
forother value added work.

iii. Excellence in relationship with the members of both the staff and officersfederation
was achieved by sorting out various IR related issues through their consistentsupport
and healthy dialogue/discussion during the year.

iv. Industry level first, settlement was signed with our staff federation onoutsourcing of
maintenance functions in respect of all branches / offices.

v. Industry level first, settlement was signed with our staff federation foroutsourcing of
replenishment of cash in ATMs, as also outsourcing of entire ATM services.

V#!  (

i. For leveraging technology in employee management area, the Bank has

implementedautomation of its HR process through SAP-ERP-HRMS software. A
centralised database of allemployees across SBI is now available.

ii. Salary and pension processing and payment of 2. lacs employees including
theemployees retired during the year and Ñ.Ñ lacs IBI / SBI pensioners respectively
havesince been centralised.
iii. During the year, the process of reimbursement of monthly expenses viz.
Conveyance,Newspaper / Magazine, Casual Labour and Cleansing Material (known as
4inÑ reimbursement has been rolled out in the Bank for all employees. This is one of the
major initiatives onpaperless functioning in the HR area.

iv. HRMS will make available additional services on online submission and viewing
ofdata etc. to all the employees of the Bank on an online "real time basis".

v. The above initiatives would help in employee satisfaction. The other HR

relatedinitiatives would help in expediting HR decision making process and also release
ofmanpower from non-core areas.

! !

The Bank had a total strength of 2,,2

on the 3Ñst March 2Ñ. Of this,3.2 were
officers, 43.Ñ clerical staff and the remaining 2Ñ.Ñ3 were sub-staff.

##'
%'%!%'!$V !
›!:$ 
A++=

Our Bank provides reservation to Persons with Disabilities (PWDs as per the
guidelinesof the Government of India and Section 33 of the PWD Act, Ñ

. The total
number ofPersons with disabilities, who were employed as on 3Ñ.3.2Ñ, was 22

(details given asunder .

 - 

      '  


, 
-

Officers 7,22 4


Clerical 7,3 Ñ22
Sub-staff 42,32Ñ 24

TOTAL 2,,2

22

!'
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‡ As on 3Ñst March 2Ñ, 3
,
7 (Ñ
.2 of the Bank¶s total staffstrength belonged to
Scheduled Castes and Ñ3,72 (.4 belonged to Scheduled Tribes.

‡ In order to discuss issues relating to reservation policy and effectivelyredress the

grievances of SC/ST employees, Liaison Officers have been designated at allthe Local
Head Offices of the Bank as also at the Corporate Centre at Mumbai.

‡ Senior officials of the Bank hold regular meetings at periodic intervals withthe
representatives of the National Federation of SBI SC/ST Employees at Corporate
Centreas also with the representatives of Circle level SC/ST Welfare Associations at the
LocalHead Offices and Administrative Offices where issues pertaining to
implementation ofreservation Policies are discussed. This has ensured redressal of
grievances to a largeextent.

‡ Government of India representative inspected the reservation roasters

forSCs/STs/OBCs/PWDs at all the Ñ4 Circles and found this maintained satisfactorily.

‡ The Bank has been conducting workshops on reservation policy for SCs/STs/OBCs
toimpart up-to-date knowledge/latest operatives about the reservation policy and
relatedareas to the SC/ST cell officers, representatives of SC/ST Welfare Association
and theLiaison officers.

‡ Pre-recruitment and pre-promotion training programmes are being conducted toenable

SC/ ST candidates to achieve the prescribed standards to effectively compete withother
candidates.

›/!'!!%!!')''):›

The Bank has redesigned the business processes to leverage the Core Banking
platform toimprove performance in key business areas and quality of customer service.
The BPR Projectundertaken by the Bank is working to transform it into a world class
institution byproactively reaching out to acquire new customers, building deep and
lasting relationshipswith existing customers and providing all customers with the best
quality of serviceacross multiple channels. Various BPR initiatives undertaken are
detailed below^

‡ Centralised Processing Centres for Retail loans, Small & Medium enterpriseloans, and
Trade Finance were set up, wherein the end to end processes have been takenover
from branches.

‡ Relationship Managers have been positioned at strategic centres to

extendpersonalized service to mass affluent and HNI clients, and also for Medium
Enterprisesclients.

‡ Dedicated Sales Teams like Home Loans Sales Team and Multi Product Sales
Teamhave been set up to target niche markets and to up-sell and cross-sell various
products.

‡ Assured Standard Turn Around Times for various sanction processes have beenfixed
for Asset CPCs.

‡ Quality of Assets and Documentation has improved.

‡ All branches in trade finance intensive centres have been made capable to handlenon-
fund based business like LCs/BGs and Bills with speed and ease.
‡ Capability has been provided to branches for speedy opening of new accounts
andissue of personalised cheque books.

‡ Clearing CPCs have been established to centralise clearing related activitiesand free
up branches to focus on customer service.

‡ Pensions are being paid to pensioners through Centralised Pension

ProcessingCentres accurately and in time.

‡ Document Archival Centres have been designed to free up valuable space inbranches.

‡ Inward Remittance Cell has been opened to handle all retail remittances
receivedthrough SWIFT at a single point.

‡ For increasing speed and efficiency and to improve customer service,

theorganizational structure has been delayered.

‡ A 24x7 contact centre has been established with toll free number for
providinginformation on products and services as well as account and balance queries
to thecustomers. This service has also been extended to NRIs in Ñ7 countries during
the year.

All top ÑÑ business centres of the country have been fully covered by the above
BPRinitiatives which have stabilised very well and have enabled branches to serve
customersbetter, with speed and accuracy.

All these initiatives have helped the Bank in creating a new operating
architecturecapable of meeting global competition.

!%

')/
)

During the year, the Bank took several initiatives to comply with the
differentrequirements of the Official Language Policy of the Govt. of India. The Bank
also usedofficial language Hindi and other Indian languages to deliver its products and
services tothe masses. Ñ2,4
 Core Banking branches of the Bank are provided with
bilingual softwarewhich enabled the customers to get their pass books, statements of
account and otherreports in Hindi.

In addition to this, all the ATMs of the Bank are provided with the option ofrespective
Regional Language and Hindi and the number of hits on ATMs in Hindi
were4,4,2
,Ñ and in other Indian languages were 3,7
,4,223 during the year.

This year, the Chairman of the Bank has given a message to the staff of the
Bankwherein all the staff members were called upon to endeavour to make maximum
use of Hindiparticularly while communicating in writing so that the people deprived of
bankingfacilities so far may also be able to avail banking services without any
hesitation.

Bank¶s In-House Hindi magazine µPrayas¶ has once again bagged the firstprize for the
year 2-
, fourth time in last seven years in the 2Ñ years¶ historyof the journal.

µPrayas¶ has also been awarded µBest House Journal Prize¶ for theyear 2-
by
Mumbai¶s premier literary-socio-cultural organizationµAashirwad¶.

Several workshops were conducted for staff to equip them with the functional
knowledgeof the official language Hindi. In order to encourage the staff to use Hindi in
theirday-to- day work, Quarterly Shabdavali Smaran and many more competitions were
organisedduring the year.

›
'.')%
%'! 
#'

.7
#7#
!/!

i The Bank has put in place the Board approved revised policy on Know Your
Customer(KYC / Anti Money Laundering (AML / Combating Financing of the Terrorism
(CFT measuresin line with Master Circular issued by Reserve Bank of India on the
subject. The maincomponents of the Policy are as follows^

‡ Customer Acceptance

‡ Customer Identification

‡ Monitoring of Transactions

‡ Training of personnel

‡ Preservation of Records

ii Procedural Guidelines to facilitate implementation of the Policy have also

beencirculated after approval of the Central Board.

iii Monitoring of Transactions is done with a view to submit undernoted reports

toFinancial Intelligence Unit-India (FIU-IND mandated by rules of Prevention of
MoneyLaundering Act, 22.

‡ Cash Transaction Reports (CTRs

‡ Counterfeit Currency Reports (CCRs

‡ Suspicious Transaction Reports (STRs

With a view to supplement and support monitoring of transactions, the Bank has
acquiredappropriate software which has been customized to function on the CBS
platform of theBank. Processing of all transactions handled by all domestic branches of
the Bank, on dayto day basis, is being done and monthly CTRs are being generated
alongwith STR alertsdaily in offline mode, for analysis by the dedicated KYC/AML Cell,
functioning under thecontrol of Chief General Manager (BO for finalisation and filing of
STRs to FIU-IND inappropriate cases.

iv Training on KYC/AML is being imparted on an ongoing basis in the Bank. In

additionto exclusive KYC/AML programmes, all training
programmes/seminars/workshops, have a KYC/AML session included in the
programme.

Further, the Bank has decided to observe Ñst August every year as "KYCCompliance
and Fraud Prevention day" to maintain appropriate awareness andinvolvement levels
across the Bank as also to create proper understanding of KYC issuesamong the
members of public.


/ 3'%'A
'
!!
' #%'%')

The measures taken for prevention of frauds are as under ^

‡ The Bank has introduced revised instructions for change of Password in ATMs.

‡ SBIMF Warrants are being paid through µDividend Warrant PaymentModule¶ on CBS.

‡ Alertness Award Scheme, to reward staff members who are instrumental indetection,
prevention of frauds or in effecting recoveries in fraud cases has beenpopularized.

‡ Ensuring that Preventive Vigilance Committees are formed at the branches havingstaff
strength of Ñ or more (including SAM branches and at CPCs/Cells irrespective oftheir
staff strength, as per the revised scheme approved by the Vigilance Department
atCorporate Centre.

‡ Encourage/popularize µWhistle Blower¶ concept.

Further, Fraud Analysis Cell (FAC has been created to ^

‡ Follow up action on alerts which are generated through technology interventionand

proactive action is taken on alerts which may be indicative of a fraudulenttransaction
having been put through.

‡ Help in avoiding recurrence and monitoring of high value frauds.

)'
›
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!
›
'.%' 
%#'!
%'%5**+

As a premier Bank of the nation, SBI always strives to create and maintain
higheststandards of customer service and in any unlikely event of any slippage in
servicesextended to customers, the Bank has put in place a Board approved
Compensation Policy tocompensate for such slippages. The policy will ensure that
appropriate financialcompensation is provided to the recipients to these services,
without requesting for it.

›
'.<!%/!%/')%5**

RBI have permitted banks to outsource non-core functions and the Bank has
accordinglyput in place a Board approved Outsourcing Policy to cover and regulate
outsourcing ofvarious activities which are considered not economical to be carried out
within the Bankand are considered prudent to be availed of from third party vendors,
with appropriatechecks and balances.

/!/%&'

/ 

The concept of Super Circle of Excellence (SCE has been conceived to impart focus
on asubset of branches to deliver high growth, improve efficiency, ensure high quality
ofcustomer service and also act as a forum for sharing best practices. The branches
havebeen selected on a twin track approach i.e. one subset comprising cluster of
branches inMetro and large urban centres to meet the burgeoning competition and
other subsetconsisting of branches selected on the basis of one per Region aiming to
transplant bestpractices from high performing branches to other branches across the
country.

As on 3Ñ.3.2Ñ, there are Ñ branches in Super Circle of Excellence, 33Ñ

branchesunder Ñ dedicated SCE Regions and 33 branches selected on the basis of
one per Regionfacilitated by SCE coordinator.

/ 


The SCE branches are primarily focusing on ±

‡ Growth in Retail business i.e. Personal (Per Domestic deposits and Per +
SBFadvances, CASA deposits and Income from Cross Selling.

‡ Overall performance of SCE branches is being measured on a multi

dimensionalefficiency matrix covering all aspects of business.

‡ Benchmarking with the best performing bank in retail operations.

‡ Setting high standards of customer service objective is reaching a zerocomplaint
status.

‡ Piloting new products of PBBU and other technology initiatives of New

BusinessDepartment.

/1›



  ,

Business performance indicators of SCE branches as on 3Ñ.3.2Ñ are furnished

below^

‡ Retail Deposit i.e. Personal Domestic Deposits-Rs.3,4Ñ crores (YoY growth

isRs.
,7
crores 22.7 as against 2Ñ.
7 achieved by non-SCE branches of the
Bank

‡ Personal Advances ± Rs. 22,34 crores (YoY growth is Rs. ,4 crores 3
.
as
against 23. achieved by non-SCE branches of the Bank

‡ CASA Deposits ± Rs. 32,2 crores (YoY growth is Rs. 7, crores 3.
asagainst 2.24 achieved by non-SCE branches of the Bank . CASA Ratio of SCE
branches hasimproved from 3.2 in March 2
to 4.Ñ in March 2Ñ.

‡ Cross Selling Income ± Rs. 27. crores (YoY growth is ÑÑ2.Ñ7 as against
7
achieved by the non-SCE branches of the Bank

The SCE branches constitute .32 of total branches of the Bank. Their contribution
inbusiness of the Bank is Ñ2.
4 in Retail Deposits, Ñ.
 in Retail advances,
Ñ.

 inPersonal Advances and Ñ3.3 in the Cross Selling Income, which are
steadily improving.

The SCE branches are extensively leveraging the new technology initiatives of the
Bankviz. Internet Banking, Mobile Banking, RTGS, NEFT, Demat and eZ-trade, for
decongestingthe branches and enhancing overall customer experience. The SCE
subset has contributednearly Ñ in total technological product coverage of the Bank.

/2%', 



‡ Potential Mapping Application has been developed by SCE Department through

DataWarehouse Portal to correctly measure and tap the potential available in the area
ofoperation of each SCE branch.

‡ For measuring level of customer satisfaction in SCE branches on a matrix of Ñ,a

customer feedback format has been devised with 2 parameters. The formats are
directlydispatched to customers and the responses keyed in online in the centralized
CSMapplication developed by SCE Department. With continuous tracking of the
deficient areas,the average CSM scores is now in the range of -7 as against -2
in March 2
.

To improve the premium enjoyed by SCE branches in 2Ñ-ÑÑ, all enablers i.e.
betterambience, CREs/RMPBs, up-gradation of skills are being ensured in these
branches to keepthem on higher growth trajectory.

3 %
' % /! 
#': 

%#
'V)V)V!

‡ Loan Policy of the Bank has been reviewed and current RBI guidelines have
beenincorporated.

‡ Increase in the Term Loan exposure limit to Infrastructure sector to Ñ fromÑ.

‡ Appointment of Nominee Directors Review and Authority Structure.

‡ Prudential Norms on Unsecured Advances.

‡ Guidelines on Restructuring of Advances by Banks.

‡ Review of Grievances redressal mechanism under Guidelines on Fair Practice

Codesfor Lending.

‡ Accounting procedures for sale of NPAs / Securitisation Companies /

AssetReconstruction Companies.

‡ Operational guidelines on Forward Exchange Contracts and Derivatives.

‡ Competitive Pricing ± Review.

‡ CP linked rates for discounting of Bills under LCs.

‡ Policy for financing Corporates on Unsecured basis to attract new business.

‡ As part of the Bank¶s Green Banking Policy, initiatives like plantation offruit bearing
trees across the Bank¶s premises, implementation of energy savingmeasures,
encouraging customers on reduction of Green House gases by way of extendingproject
loans on concessionary interest rates, assisting in CDM Registration andsecuritization
of CER receivables etc. were undertaken.

‡ Under the captive windmill project, the Bank has gone in for Ñ windmills (Ñ.MW
each which have been set up in three States viz. Maharashtra, Gujarat and
Tamilnadu.Power generated from the windmills shall be set-off against the power
consumption ofidentified offices / branches of those States. State Bank of India is the
first Bank inIndia to have conceived the idea of µGreen Power¶ generation for captive
use inthe Banking Industry.

'$% /

‡ Financing to Shipbreaking Units.


 
- ! 


The Board of Directors hereby states ^

i. that in the preparation of the annual accounts, the applicable accounting

standardshave been followed along with proper explanation relating to material
departures

ii. that they have selected such accounting policies and applied them consistently
andmade judgements and estimates as are reasonable and prudent, so as to give a
true and fairview of the state of affairs of the Bank as on the 3Ñst March 2Ñ, and of
theprofit and loss of the Bank for the year ended on that date

iii. that they have taken proper and sufficient care for the maintenance of
adequateaccounting records in accordance with the provisions of the Banking
Regulation Act, Ñ
4
and State Bank of India Act, Ñ
 for safeguarding the assets of
the Bank and preventingand detecting frauds and other irregularities and

iv. that they have prepared the annual accounts on a going concern basis.

9 ,


During the year, Shri Ashok Chawla, Finance Secretary, Govt. of India was nominated
tothe Board under Section Ñ
(e with effect from Ñ3th May 2
, in place of Shri
ArunRamanathan, who retired on 3th April 2
.

The Directors express their gratitude for the guidance and cooperation received fromthe
Government of India, RBI, SEBI, IRDA and other government and regulatory agencies.

The Directors also thank all the valued clients, shareholders, banks and
financialinstitutions, stock exchanges, rating agencies and other stakeholders for their
patronageand support, and take this opportunity to express their appreciation of the
dedicated andcommitted team of employees of the Bank.

For and on behalf of the

Central Board of Directors
%› 
 Chairman
Date ^ Ñ4th May, 2Ñ

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