ICICI Bank 2016 Annual Report Download - page 54

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Directors’ Report
Annual Report 2015-2016
Commodity price risk or foreign exchange risk and hedging activities
The foreign exchange risk position including bullion is managed within the ` 10.00 billion net overnight open position
(NOOP) limit approved by the Board of Directors. The Bank does not undertake positions in commodities. The Bank
primarily has oating rate linked assets. Wholesale liability raising takes place in US dollar or other currencies via bond
issuances, bilateral loans, syndicated / club loans as well as renance from Export Credit Agencies (ECA) which may be
at a xed rate or oating rate linked. In case of xed rate fund raising in US dollars, the interest rate risk is hedged via
interest rate swaps wherein the Bank moves to a oating rate index in order to match the asset prole. In case of fund
raising in non US dollar currencies, the foreign exchange risk is hedged via foreign exchange swaps or currency interest
rate swaps.
Plant Locations – Not applicable
Address for Correspondence
P. Sanker
Senior General Manager (Legal) & Company Secretary
or
Ranganath Athreya
General Manager & Joint Company Secretary
ICICI Bank Limited
ICICI Bank Towers
Bandra-Kurla Complex
Mumbai 400 051
Tel No. : [phone]
Fax No. : [phone]
E-mail : [email protected]
The Bank is in compliance with requirements specied in Regulations 17 to 27 and clauses (b) to (i) of sub-regulation
(2) of Regulation 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
The Bank has also complied with the discretionary requirements such as maintaining a separate ofce for the Chairman
at the Bank's expense, ensuring nancial statements with unmodied audit opinion, separation of posts of Chairman and
Chief Executive Ofcer and reporting of internal auditor directly to the Audit Committee.
ANALYSIS OF CUSTOMER COMPLAINTS
a) Customer complaints in scal 2016
No. of complaints pending at the beginning of the year 2,887
No. of complaints received during the year 191,453
No. of complaints redressed during the year 190,940
No. of complaints pending at the end of the year 3,400
Note: The above does not include complaint redressed within 1 working day.
b) Awards passed by the Banking Ombudsman in scal 2016
No. of unimplemented awards at the beginning of the year Nil
No. of awards passed by the Banking Ombudsman during the year Nil
No. of awards implemented during the year Nil
No. of unimplemented awards at the end of the year Nil