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F31
11. Subordinated debt
During the year ended March 31, 2010, the Bank raised subordinated debt qualifying for Tier II capital amounting to
Rs. 62,000.0 million. The following table sets forth, the details of these bonds.
Rupees in million
Particulars Date of Issue Coupon Rate (%) Tenure Amount
Lower Tier II April 22, 2009 9.30% (annually) 10 years 15,000.0
Upper Tier II August 31, 2009 8.92% (semi-annually)115 years110,000.0
Lower Tier II December 9, 2009 8.75% (annually) 10 years 13,200.0
Upper Tier II January 12, 2010 8.90% (annually)215 years2 7,800.0
Upper Tier II January 29, 2010 8.81% (semi-annually)315 years316,000.0
Total 62,000.0
1. 50 basis points over and above the coupon rate payable semi-annually for the balance years after August 30, 2019, if the call option
is not exercised by the Bank; call option exercisable on August 31, 2019 with RBI approval.
2. 50 basis points over and above the coupon rate payable annually for the balance years after February 27, 2020, if the call option is
not exercised by the Bank; call option exercisable on February 28, 2020 with RBI approval.
3. 50 basis points over and above the coupon rate payable annually for the balance years after February 27, 2020, if the call option is
not exercised by the Bank; call option exercisable on February 28, 2020 with RBI approval.
During the year ended March 31, 2010, Bank has also raised an amount of Rs. 25,000.0 million towards application money
on subordinated debt bonds which is pending for allotment at March 31, 2010.
During the year ended March 31, 2009, the Bank raised subordinated debt qualifying for Tier II capital amounting to
Rs. 45,210.0 million. The following table sets forth, the details of these bonds.
Rupees in million
Particulars Date of Issue Coupon Rate (%) Tenure Amount
Upper Tier II (Tranche 3) June 20, 2008 10.00% (annually)115 years17,500.0
Upper Tier II September 22, 2008 11.25% (annually)115 years110,000.0
Upper Tier II November 11, 2008 12.00% (annually)215 years215,000.0
Upper Tier II March 26, 2009 9.95% (annually)315 years312,710.0
Total 45,210.0
1. 50 basis points over and above the coupon rate payable annually for the balance years after October 31, 2018, if the call option is
not exercised by the Bank; call option exercisable on October 31, 2018 with RBI approval.
2. 50 basis points over and above the coupon rate payable annually for the balance years after November 30, 2018, if the call option is
not exercised by the Bank; call option exercisable on November 30, 2018 with RBI approval.
3. 50 basis points over and above the coupon rate payable annually for the balance years after March 26, 2019, if the call option is not
exercised by the Bank; call option exercisable on March 26, 2019 with RBI approval.
12. Investments
The following table sets forth, for the periods indicated, the details of investments and the movement of provision held
towards depreciation on investments of the Bank.
Rupees in million
Particulars At
March 31, 2010 At
March 31, 2009
1. Value of Investments
i) Gross value of investments
a) In India ............................................................................................. 1,129,332.3 947,314.5
b) Outside India ................................................................................... 91,756.8 97,586.3
ii) Provision for depreciation
a) In India ............................................................................................. (11,779.5) (12,530.7)
b) Outside India ................................................................................... (381.6) (1,787.0)
iii) Net value of investments
a) In India ............................................................................................. 1,117,552.8 934,783.8
b) Outside India ................................................................................... 91,375.2 95,799.3
2. Movement of provisions held towards depreciation on investments
i) Opening balance ..................................................................................... 14,317.7 6,698.5
ii) Add: Provisions made during the year ................................................... 4,647.5 8,912.7
iii) Less: Write-off/write back of excess provisions during the year ........... (6,804.1) (1,293.5)
iv) Closing balance ....................................................................................... 12,161.1 14,317.7
schedules
forming part of the Accounts (Contd.)