ICICI Bank 2006 Annual Report Download - page 126

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F67
schedules
forming part of the Consolidated Accounts (Contd.)
13. Provision
RBI has increased the requirement of general provisioning on standard loans (excluding loans to agriculture sector and
small and medium enterprises) to 0.40% compared to 0.25% earlier. In accordance with the revised guidelines on general
provisioning on standard loans, the Bank has made general provision of Rs. 3,390.2 million during the year ended March 31,
2006. The Bank has reassessed its provision requirement on performing loans and non-performing loans on a portfolio
basis during the year ended March 31, 2006. Based on this reassessment, the Bank has written back an amount of Rs.
1,692.2 million from its existing provisions against non-performing loans, which were in excess of regulatory requirements.
14. Depreciation on premises
In case of the Bank’s venture fund management company, the company has revised the method of providing depreciation
on premises taken on lease from written down value method to amortising the same on straight-line basis over lease
period. As a result the depreciation for the year is higher by Rs. 2.96 million.
15. Penalties imposed by RBI
The RBI had imposed penalties (ranging from Rs. 0.5 million to Rs. 2.0 million) on certain banks including ICICI Bank on
January 23, 2006 under Section 47A(1)(b) of the Banking Regulation Act, 1949. A penalty of Rs. 0.5 million (March 31, 2005:
Rs. Nil) had been imposed on the Bank citing contravention of RBI instructions relating to opening of accounts, monitoring
of transactions for adherence to Know Your Customer (“KYC”)/Anti Money Laundering (“AML”) norms, and non-adherence
to normal banking practices.
16. Additional disclosure
Additional statutory information disclosed in separate financial statements of the parent and the subsidiaries having no
bearing on the true and fair view of the consolidated financial statements and also the information pertaining to the items
which are not material have not been disclosed in the consolidated financial statements in view of the general clarification
issued by ICAI.
17. Comparative figures
Figures of the previous year have been regrouped to conform to the current year presentation.
N. VAGHUL
Chairman
LALITA D. GUPTE
Joint Managing Director
CHANDA D. KOCHHAR
Deputy Managing Director
JYOTIN MEHTA
General Manager &
Company Secretary
K. V. KAMATH
Managing Director & CEO
KALPANA MORPARIA
Joint Managing Director
NACHIKET MOR
Deputy Managing Director
RAKESH JHA
General Manager
Place : Mumbai
Date : April 29, 2006
Signatures to Schedules 1 to 18 For and on behalf of the Board of Directors
VISHAKHA MULYE
Chief Financial Officer &
Treasurer