ICICI Bank 2011 Annual Report Download - page 102

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11. Repurchase transactions
Till March 31, 2010, the Bank used to account for market repurchase and reverse repurchase transactions in government
securities and corporate debt securities, if any, as “sale and repurchase” transactions. However, as per RBI circular
no. RBI/2009-2010/356 IDMD/ 4135/11.08.43/2009-10 dated March 23, 2010, the Bank has started accounting for such
transactions as “borrowing and lending” transactions, effective April 1, 2010. If the Bank had continued to account the
repurchase and reverse repurchase transactions as “sale and repurchase” at March 31, 2011, the investments would
have been higher by ` 122.8 million and the ‘Balances with Banks and Money at call and short notice’ and ‘Borrowings’
would have been lower by ` 124.0 million and ` 1.2 million respectively.
The following table sets forth, for the periods indicated, the details of securities sold and purchased under repo and reverse repo.
` in million
Minimum
outstanding
balance during
the year
Maximum
outstanding
balance during
the year
Daily average
outstanding
balance during
the year
Outstanding
balance at
Year ended March 31, 2011
Securities sold under Repo
i. Government Securities ....................................... 1.1 214,553.6 41,177.3 1.2
ii. Corporate Debt Securities ................................... — — — —
Securities purchased under Reverse Repo
i. Government Securities ....................................... — 7,817.1 282.2 124.0
ii. Corporate Debt Securities ................................... — 250.0 3.4 —
Year ended March 31, 2010
Securities sold under Repo
i. Government Securities ....................................... 7.6 294,964.7 153,396.0 27,194.4
ii. Corporate Debt Securities ................................... — — — —
Securities purchased under Reverse Repo
i. Government Securities ......................................... — 827.8 233.5 84.2
ii. Corporate Debt Securities .................................... — — — —
1. The above figures do not include securities sold and purchased under Liquidity Adjustment Facility (LAF) of RBI.
2. Amounts reported are based on face value of securities under repo and reverse repo.
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.
` in million
Particulars At
March 31, 2011
At
March 31, 2010
1. Value of Investments
(i) Gross value of investments
a) In India .................................................................................................... 1,272,423.9 1,129,332.3
b) Outside India ........................................................................................... 94,499.8 91,756.8
(ii) Provision for depreciation
a) In India .................................................................................................... (19,483.1) (11,779.5)
b) Outside India ........................................................................................... (581.0) (381.6)
(iii) Net value of investments
a) In India .................................................................................................... 1,252,940.8 1,117,552.8
b) Outside India ........................................................................................... 93,918.8 91,375.2
2. Movement of provisions held towards depreciation on investments
(i) Opening balance ........................................................................................... 12,161.1 14,317.7
(ii) Add: Provisions made during the year ........................................................ 8,612.714,647.5
(iii) Less: Write-off/write back of excess provisions during the year ................ (709.7) (6,804.1)
(iv) Closing balance ............................................................................................. 20,064.1 12,161.1
1. Includes provision created at the time of acquisition of investments from erstwhile The Bank of Rajasthan on amalgamation.
forming part of the Accounts (Contd.)
schedules