ICICI Bank 2014 Annual Report Download - page 131

Download and view the complete annual report

Please find page 131 of the 2014 ICICI Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 196

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196

F43
Experience adjustment
` in million
Particulars Year ended
March 31, 2014
Year ended
March 31, 2013
Plan assets ........................................................................................................... 15,689.8 13,719.5
Defined benefit obligations ................................................................................. 15,693.3 13,719.5
Amount not recognised as an asset (limit in para 59(b) of AS-15 on
‘employee benefits’) ............................................................................................ ——
Surplus/(deficit) ................................................................................................... (3.5) —
Experience adjustment on plan assets ............................................................... (150.5) (22.1)
Experience adjustment on plan liabilities ........................................................... (49.1) (26.4)
Bank has contributed ` 1,412.8 million to provident fund for the year ended March 31, 2014 (March 31, 2013: ` 1,244.6
million), which includes compulsory contribution made towards employee pension scheme under Employees Provident
Fund and Miscellaneous Provisions Act, 1952.
Superannuation Fund
Bank has contributed ` 118.1 million for the year March 31, 2014 (March 31, 2013: ` 100.5 million) to superannuation
fund.
34. Movement in provision for credit card/debit card/savings account reward points
The following table sets forth, for the periods indicated, movement in provision for credit card/debit card/savings account
reward points.
` in million
Particulars Year ended
March 31, 2014
Year ended
March 31, 2013
Opening provision for reward points ................................................................. 745.9 712.5
Provision for reward points made during the year ............................................ 745.3 637.1
Utilisation/write-back of provision for reward points ........................................ (655.2) (603.7)
Closing provision for reward points1 .................................................................. 836.0 745.9
1. The closing provision is based on the actuarial valuation of accumulated credit card/debit card/savings account reward points.
This amount will be utilised towards redemption of the credit card/debit card/savings accounts reward points.
35. Provisions and contingencies
The following table sets forth, for the periods indicated, the break-up of provisions and contingencies included in profit
and loss account.
` in million
Year ended
March 31, 2014
Year ended
March 31, 2013
Provisions for depreciation of investments ....................................................... 711.2 1,261.8
Provision towards non-performing and other assets1 ....................................... 22,522.7 13,948.4
Provision towards income tax ............................................................................ 38,395.0 29,982.0
Deferred tax adjustment ..................................................................................... 3,131.9 660.2
Provision towards wealth tax .............................................................................. 50.0 70.0
Other provisions and contingencies2 ................................................................. 3,030.2 2,815.2
Total provisions and contingencies ................................................................... 67,841.0 48,737.6
1. Includes provision towards NPA amounting to ` 17,148.0 million (March 31, 2013: ` 12,835.2 million).
2. Includes provision towards standard assets amounting to ` 2,487.7 million (March 31, 2013: ` 1,439.1 million).
36. Provisions for income tax
The provision for income tax (including deferred tax) for the year ended March 31, 2014 amounted to ` 41,526.7 million
(March 31, 2013: ` 30,642.2 million).
The Bank has a comprehensive system of maintenance of information and documents required by transfer pricing
legislation under section 92-92F of the Income-tax Act, 1961. The Bank is of the opinion that all transactions with
international related parties and specified transactions with domestic related parties are primarily at arm’s length so that
the above legislation do not have material impact on the financial statements.
forming part of the Accounts (Contd.)
schedules