ICICI Bank 2016 Annual Report Download - page 179

Annual Report 2015-2016 177
Schedules
forming part of the Accounts (Contd.)
Financial Statements of ICICI Bank Limited
` in million
Particulars Year ended
March 31, 2016
Year ended
March 31, 2015
Actual return on plan assets 1,581.0 1,709.0
Expected employer's contribution next year 990.1 984.9
Investment details of plan assets
Government of India securities 41.55% 39.49%
Corporate bonds 53.73% 54.11%
Special deposit scheme 2.72% 2.99%
Others 2.00% 3.41%
Assumption
Discount rate 7.85% 7.90%
Expected rate of return on assets 9.03% 8.74%
Discount rate for the remaining term to maturity of investments 7.68% 7.96%
Average historic yield on the investment 8.68% 8.80%
Guaranteed rate of return 8.75% 8.75%
1. Included in line item payments to and provision for employees of Schedule-16 Operating expenses.
Experience adjustment
` in million
Particulars
Year ended
March 31,
2016
Year ended
March 31,
2015
Year ended
March 31,
2014
Year ended
March 31,
2013
Plan assets 19,920.6 17,746.8 15,689.8 13,719.5
Dened benet obligations 19,920.6 17,746.8 15,693.3 13,719.5
Amount not recognised as an asset (limit in para 59(b) of AS-15 on
‘employee benets’) ––––
Surplus/(decit) – – (3.5) –
Experience adjustment on plan assets 8.7 346.4 (150.5) (22.1)
Experience adjustment on plan liabilities 199.0 322.3 (49.1) (26.4)
The Bank has contributed ` 1,612.8 million to provident fund for the year ended March 31, 2016 (March 31, 2015:
` 1,511.0 million), which includes compulsory contribution made towards employee pension scheme under
Employees Provident Fund and Miscellaneous Provisions Act, 1952.
Superannuation Fund
Bank has contributed ` 122.7 million for the year ended March 31, 2016 (March 31, 2015: ` 110.7 million) to
superannuation fund.
38. 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, 2016
Year ended
March 31, 2015
Opening provision for reward points 1,083.2 836.0
Provision for reward points made during the year 1,535.1 1,144.0
Utilisation/write-back of provision for reward points (1,200.8) (896.8)
Closing provision for reward points1 1,417.5 1,083.2
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.