ICICI Bank 2014 Annual Report Download - page 173

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F85
forming part of the Consolidated Accounts (Contd.)
schedules
6. Preference shares
Certain government securities amounting to ` 2,970.9 million at March 31, 2014 (March 31, 2013: ` 2,749.9 million) have
been earmarked against redemption of preference shares issued by the Bank, which fall due for redemption on April 20,
2018, as per the original issue terms.
7. 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
Particulars Year ended
March 31, 2014
Year ended
March 31, 2013
Provision for depreciation of investments .......................................................... 1,628.8 1,717.7
Provision towards non-performing and other assets ......................................... 24,818.3 15,513.8
Provision towards income tax ............................................................................. 43,158.7 33,701.4
Deferred tax adjustment ...................................................................................... 2,885.3 1,096.2
Provision towards wealth tax ............................................................................... 51.1 71.2
Other provisions and contingencies1 .................................................................. 2,555.5 3,720.1
Total provisions and contingencies .................................................................... 75,097.7 55,820.5
1. Includes provision made towards standard assets amounting to ` 1,592.0 million (March 31, 2013: ` 1,349.9 million).
8. Staff retirement benefits
Pension
The following tables set forth, for the periods indicated, movement of the present value of the defined benefit obligation,
fair value of plan assets and other details for pension benefits.
` in million
Particulars Year ended
March 31, 2014
Year ended
March 31, 2013
Opening obligations ............................................................................................ 10,392.5 9,602.7
Service cost .......................................................................................................... 240.3 250.6
Interest cost .......................................................................................................... 833.7 793.7
Actuarial (gain)/loss .............................................................................................. 998.5 2,017.8
Liabilities extinguished on settlement ................................................................. (2,012.8) (1,960.1)
Benefits paid ......................................................................................................... (242.3) (312.2)
Obligations at the end of year ............................................................................ 10,209.9 10,392.5
Opening plan assets, at fair value ...................................................................... 9,526.8 9,379.5
Expected return on plan assets ........................................................................... 772.0 728.5
Actuarial gain/(loss) .............................................................................................. (29.1) 102.3
Assets distributed on settlement ......................................................................... (2,236.5) (2,177.9)
Contributions ........................................................................................................ 1,227.9 1,806.6
Benefits paid ......................................................................................................... (242.3) (312.2)
Closing plan assets, at fair value ........................................................................ 9,018.8 9,526.8
Fair value of plan assets at the end of the year .................................................. 9,018.8 9,526.8
Present value of the defined benefit obligations at the end of the year ............ (10,209.9) (10,392.5)
Amount not recognised as an asset (limit in Para 59(b) of AS 15 on ‘employee
benefits’) ............................................................................................................... ——
Asset/(liability) .................................................................................................... (1,191.1) (865.7)