BOI Annual Report-2010

8/4/2019 BOI Annual Report-2010

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e e ee] e Fe[ eeBANK OF INDIA eee e e ej ee A

The following table shows manageme

years.

ceo Item31.03.08

(JeemleefJeke)(Actual)

31

(Jeem(A

mekeue SveheerS (eejbefYeke) GROSS NPA (Opening) 2101

IeeSb Less:

vekeo Jemetueer Cash-Recovery 814

Gvveeve Upgradations 275

yes Keeles Write-off 446ke=ef


36/200

F

Non-discre

SME Borro

to Rs.10 C

liberal term

Recovery

in LOK

resolution

undertaken

Zones. T

recovery

through

Recovery CThe bank

during the

below:

ceo Item31.03.2

mJeosMeerDomestic

Fo

31.03.2009 kees eejbefYeke SveheerS Opening NPA as on 31.03.2009 2189.70 2

IeeSb Less:

vekeo Jemetueer Cash Recovery 603.68

Gvveeve Upgradation 181.45

yes Keeles Write Off 742.95

ke=ef


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POSITION AT A GLANCE

Je


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and GOI returns which require transact

from the Data Warehouse. Bank has

implementing suitable analytical tool.

Bank has implemented data wareh

Financial Services Application (OFSA).

from the Disaster Recovery site of th

and stored in to OFSA Oracle databas

core banking database, for three dates

loaded into OFSA.

Risk manager of OFSA is being used

Management of the Bank. Data rela

products and card transactions are aOFSA database for ALM purpose.

Comprehensive Credit Information sy

CBS is also imported to the OFSA dat

MIS report generation, once in a w

provides number of RBI returns, report

and MIS reports to the user departme

regulators/top management. CCIS

submission of data to CIBIL

Data warehouse has also undertaken t

and conducted workshop in all the z

workshops the branches were imparte

errors occurring in classification of adv

At Data warehouse, for the purpose of

customers via email, Oracle Marketing

implemented. Using this product Bank

emails, overnight to its customers. At paround 1.4 lakh email ids, which are re

Internet Banking cell.

INFORMATION TECHNOLOGY

Branch Automation

On 16th May 2009, all domestic bra

umbrella of CBS. Now new branches a

under the CBS platform. All bran

enabled.

Calculation of interest on Saving

April 2010 has been changed fro

to daily product basis.

Printing of Nominee Name on Pas

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40/200

Objective (RTO) of 15 minutes

established by the Bank. The primary s

and Disaster Recover site (DR) situ

Near Site (NR) has been established wreplication for zero data loss. The Dat

average 30 lakh transactions per day.

data centres are connected in WAN ne

power supply from two DG-Sets throug

The Data Centre deploys three tier arch

database, application and web, which

high-end servers with latest version

RDBMS and applications for betperformance.

Bank security and network infrastructur

availability/capacity requirements. The

strong physical security control with B

for critical areas of server for serv

Dedicated resources working on 24

with latest Building Management S

optimum management of power cool

data centre infrastructure system is

premises is covered with surveillan

24X7X365.

Disaster Recover Drills are planned an

to ensure readiness. The Bank has RTO

over from Primary to DR site operatio

are used for Report Generation the

utilisation of resources consider best p

SMS Alerts - Star Sandesh

As a fraud prevention measure, SMS a

provided to all customers who have

number with the Bank for

All Debit transactions from deli

banking/ATM/POS).

All Debit clearing transactions of

All Customer induced debit trans

Rs. 10,000/- and above.

All Debit ECS transactions of Rs

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meeF& ([erDeej) yebieueg ceW efmLele nw~ Metve Deebke[e neefve nslegcetue meeF& Yeb[ejCe

eefleke=efle meefnle efveej meeF& (SveDeej) mLeeefhele keer ieF& nw~ [ee meWj eefleefove

Deewmeleve 30 ueeKe uesve-osve kee mebeueve kejle e nw~ etheerSme eje oes pesvejsj mes

24 Iebs oesnjer Tpee& Deehetefle& meefnle meYeer keeee&uee, MeeKeeSb leLee [ee kesv Jesve

vesJeke& mes peg[s nQ~

[ee kesv ves leerve ejCeere ShueerkesMeve mebjevee yeveeeer nw [seyesme, ShueerkesMeve

leLee Jesye pees DeeOegefvekelece heefjeeueve eCeeueer Deej[eryeerSceSme meefnle efJeefYeVe Ge

meJe&j ceW efJemle=le nw efpemekes Shueerkes Meve yesnlej eyebOeve leLee keee&ef ve


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Bank of India is the first PSU Bank in

factor Authentication(2FA) Star T

Corporate internet banking customers

measure. Banks customers enjoy the cAnytime, Anywhere, Anyhow hassle

comfort of their homes and offices with

Features introduced during the year ar

Resetting or Unblocking of Interne

using Debit-Cum-ATM card PIN.

Display of Credit Card details and

Banking.

Provision to make online

Application Supported by Blocke

issues by Retail Internet Banking

Mobile Banking Services

Mobile Banking facility has been in

alternate delivery channel which allows

activities virtually from the convenienc

any time and from anywhere. This fa

Retail internet banking customers an

Balance enquiry, last five transactions

Transfer & Mobile Payments.

Other Online Services

The Bank offers the following value ad

Online Interbank Fund Transfer

Star Connect Internet Banking

NEFT.

BOI Star e-Pay for Auto-pay or on

utility services/ bills.

e-Payment for Direct & Indirect, C

Tax.

Star e-Share Trade to trade in sh

e-Freight Payment.

Directorate General of Foreign T

Online e-Payment.

Online Booking of Railway & Airli

O li A li i f Ed i l

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Other New Initiatives:

Technology has been leveraged in s

viz.

Financial Inclusion Project

sector.

Solar Power Project Eco-friend

for Rural Areas.

V-sat Connectivity Project Netw

Rural / Remote locations.

Collaborative Communication Vi

/ Installation of High definition Au

E -learning to revolutionise trainin

Installation of Biometric ATMs

accessibility for the physically han

Sales Lead Management.

Customer Complaint Managemen

Credit Risk Management Project.

Credit application Processing Sys

Anti Money Laundry System.

Human Resources Management

CISO (Chief Information Security Of

Online Banking Frauds and Counterm

being monitored and countered by CIS

The prominent Online Banking

countermeasures are:

1. Phishing :- In this cyber attack

fraudster with the subject line as

failure notice etc. and asks a use

and update his account details el

locked out. User in panic, clicks

webpage having replica of his ba

enters his credentials there. Ocredentials, he uses an accou

transfer.

2. Keyloggers :- This is another

fraudulent online funds transfer.

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c. Hardware keyloggers are als

at public places like Cyber C

3. Drive-By-download :- A Drive-b

that is automatically downloaded

your consent or even your kno

infections are connected to botne

turned into a zombie that may th

malicious activity, like spam emai

Anti Virus vendors have proved t

computers worldwide are serving

4. Ransomware : - It is a computer

users important data and derestoration. Originally they were re

Cryptotrojans, Cryptoworms. Som

offer courses on Cryptovirology.

Following are the recommended coun

online banking threats :

a. Ensure that you have anti virus a

into your machine.

b. Use Windows Update and

regularly.

c. If you receive any EMAIL or a PH

from Bank Of India and advisi

account details online, simply dele

you to update your user id,

password online.

d. Always look at the Website bankofindia.com) and a Padloc

side of your browser button befor

credentials.

e. Use our Two Factor Authen

Startoken to have secure online

f. Avoid Internet banking in Cyber C

Some of the best practices are checkingperiodically and to have correct mobi

correspondence address registered w

Banking Technology Award

Bank of India has been conferred Wi

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Absence Management Module operati

Automated Teller Machines and ATM

422 ATMs were installed during the 820 ATMs both on-site and off-site are

part of ATMS networks like Cashtree

NFS, etc. Customers can access more

the country. A centralized reconcilia

adopted for prompt and effective rec

balance a/c of the designated cas

reconciliation of 251 cash branches

handled by the Centralized ATM Reco

BUSINESS PROCESS RE-ENGINEE

Highlights of the activities undertake

during the year 2009-10.

The Sales Force Automation

Complaint Management System (

of leads and their further tracki

customer complaints has been m

has been handed over to its usDepartment-HO and CCMS syste

Division - HO.

The process of upgrading of func

revamping their operations is in p

will be made fully operational for s

the earliest. The steps of Mappin

system at Call Centre at Mumbai

to give access to customers pan To achieve still higher level

automation of centralized bac

underway such as Centralized

process and identified service r

Call Centre including cheque b

payment requests.

Bank is in the process of acq

solution for maintaining documeInitially the project will be launch

forms for branches in Mumbai. T

these forms will be directly upload

Bank has already launched W

accounts opened at the select br

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mJeeeefuele suej ceMeerve SJeb SerSce meceeOeeve

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Bank is also ready to come out w

attractive S/B A/C passbook in ho

more details of transactions.

Call Centre

In the present banking scenario, Cal

function as an alternate delivery chann

full-fledged Call Centre reduces the

handling the customers. It acts as a

cost effective touch point for the cust

supposed to receive the incoming calls

service support, service deficiency

enquiries from the existing/prospemarketing of the Banks products.

Present Status:

1. Established on 07.09.2006, our

types of enquiries from ex

customers related to:

a) Banks schemes / products

b) Complaints

c) Queries related to ATM,

Banking, SMS Banking, Mob

2. Functions from 6.00 hrs to 23.0

10+1 Executives of M/S Hewlett P

by 3 bank officers from 8.00 a.m.

shift basis on all week days inc

holidays.

3. It has a single phone number 40

lines.

4. M/S Servion Global Solutions Ltd

provider/vendor for Interactive

system installed at the Call Cent

Centre applications e.g. RapCTI,

IVR system is for the customers PINs (TPINs) as well as the non

product & general information.

Activities presently undertaken:

1 The information on banks produc

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3. The Call Centre also attends to

through SMS (57575) by downloa

outbound calls are made to con

approach through SMS.Future activities:

1. The following services will be in

system:

Prepayment/Payment of Term De

Debit Card PIN/TPIN request.

Registration for Mobile Banking P

Mobile Banking Charges- Utility P

Issue of Term Deposit & Recurrin

Execution of Standing Instruction

Issue of Demand Draft/Pay order

Linking of more than one account

Request for regeneration of

Banking.

Process for registration for e-bill p

Facility.

Request for Duplicate Password

Closure of account.

Transfer of accounts.

De-mat accounts & all other relat

INTERNAL CONTROL MECHANISM

Risk Management

Risk is an integral element of the

Accordingly, the purpose of the risk

only to minimize risks but also to en

properly identifies measures and han

adequate reports on all these efforts s

which have occurred, should not end

operations. With this in mind the ba

operates mechanisms, which ensures

of relevant risk types on an individual

risk position of the bank.

Risk Management is a Board driven f

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DeevesJeeueer hetlee kee Yeer Oeeve jKeles nw~

YeeJeer keee&keueehe1. Jele&ceeve eCeeueer ceW efvecveefueefKele mesJeeSB pees[er peeSieer :

ceereeoer peceejeefMe kee hetJe&Yegieleeve/Yegieleeve

[sefye kee[& efheve/er efheve mebyebOeer DevegjesOe

ceesyeeFue yeQefkebie keee&Jeener kes efueS hebpeereve

ceesyeeFue yeQefkebie eYeej - eterefueer hesceW ceereeoer pecee SJeb DeeJeleeapecee peejer kejvee

mLeeF& DevegosMeebs kee keeee&vJeeve

ceebie [^eHe/Yegieleeve DeeosMe peejer kejvee

[sefye kee[& mes Ske mes DeefOeke Keeles pees[vee

Fvjves yeQefkebie kes efueS heemeJe[& hegveme=efpele kejves nsleg DevegjesOe

F&-efyeue Yegieleeve (F&-hes) SJeb [erces megefJeOee kes efueS hebpeereve nsleg keee&Jeener

Fbjves yewefkebie kes efueS [ghueerkes heemeJe[& kes efueS DevegjesOe

Keelee yebo kejvee

KeeleeW kees yebo kejvee

[erces Keeles SJeb Deve meYeer mebyebefOele keee&keueehe

Deebleefjke efveeb$eCe keee&eCeeueer

peesefKece SJeb efveeb$eCe

pees efKece efkemeer Yeer yeQ ke keer ieefleefJeefOe kee DeefYevve lelJe nw~ leovegmeej,peesefKece

efveeb$eCe keee&kee eeespeve ve efmeHe& peesefKece kees kece kejvee nw Deefheleg mebmLee eje

YeueerYeebefle hetJeexheee keer heneeve leLee peesefKece eyebOeve Deewj Fve eeemeeW hej Gefele

efjhees& leweej efkeee peevee megefveefele kejvee nw leeefke GheefmLele peesefKece, efvejblejlee

efJemleej heefjeeueve nslegKeleje ve yeve peeS~ Fmes Oeeve ceW jKekej yeQke ves JeJemLeemLeeef hele keer nw SJeb yeQ ke JeJemLee mebeeefuele kejlee nw pees Jew eefeke DeeOeej hej

mebyebefOele peesefKece ekeej SJeb yeQke keer kegue peesefKece efmLeefle kes Jele&ceeve efveOee&jCe kees

megefveefele kejlee nw~



47/200

The identification, definition and record

in all activities and products is done th

and vetting the same by the operation

and task forces. Risk profiling of the

quarterly basis. Various tools and syste

new Basel Compliant credit Rating Mo

models for market risks, Self assessme

tracking of Key Risk Indicators for op

introduced for assessing/measuring t

warehousing project to provide compre

is implemented. The Bank is imp

Management Software which will hel

the data quality and completeness Management systems.

The Bank has migrated to computat

under New Capital Adequacy Framew

Standardised Approach for Credit and

Indicator Approach for Operational Ris

effective 31.03.2008.

The Bank undertakes Internal CapitaProcess (ICAAP) on a yearly basis for as

of various risks, the limits of its ris

appropriate level of internal capital in

the Risk Appetite. Stress Testing P

enhancing risk assessment by provi

understanding of the likely impa

circumstances. This exercise is expect

basis for decision making both to the ri

the entire institution and also for assesthe independent control function.

Inspection & Audit

Inspection and Audit is an important

Management to ensure that systems a

by the Bank are implemented in right ea

/ controlling offices. It helps the Mana

in evaluating the effectiveness of the intin the bank.

Well defined Audit policies duly appro

of Board of Directors and Manual of Ins

various types of audit, i .e. Risk Based I

Audit Information Systems Audit Man

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The Inspection & Audit Department of t

nine zonal audit offices for internal insp

the year 2009-10, Risk Based Interna

System Audit of branches and Mana

were carried out as per schedule.

All foreign branches are covered u

Further, Internal Audit & Inspection are

branches & offices by India based of

months. During the year 2009-10, suc

for all foreign branches and offices.

The Bank has initiated PROJECT ST

technology for effective and focusseoffice programme for offsite audit relate

Aided Audit Tool (CAAT) is being use

Reports are generated in advance a

compliance before commencement of

Compliance Department

Compliance Function Policy for the B

Board on 21.1.2008 as per Reserve B

Compliance of statutory, regulatory a

the Bank is the scope of operation of th

the Bank.

The Department also handles the Ann

(AFI) by the RBI by coordinating with th

Departments. The AFI Reports are scr

is submitted to the RBI. The departme

testing at Branches and submits repo

Top Management. Coordination with

the Head Office for submission of var

to the RBI are ensured.

At each Zonal Office Compliance Offic

monitoring the compliance function of

respect of foreign Branches, Comp

cluster of the foreign centre has been

the compliance function of all the Bran

A quarterly report on compliance func

submitted to the Board.

The department is also vested wit

implementation / monitoring following

the Bank :

2009-10 kes oew jeve, MeeKeeDeesb keer peesef Kece DeeOeeef jle Deeb leefjke ues Kee hejer#ee,met evee eCeeueer uesKee hejer#ee SJeb eyebOeve ues Kee hejer#ee efveOee&ef jle keee& ece kesDevegmeej keer ieF&~

meceJeleer& uesKee hejer#ee kes Deb leie&le mecemle efJeosMeer MeeKeeSB meefcceefuele nw~ FmekesDeefleefjkele, mecemle efJeosMeer MeeKeeDeesb SJeb keeee&ueeeW kee 18 ceen keer DeJeefOe ceW yeQke

kes Yeejle ceW heomLe DeefOekeeefjeeW eje Deebleefjke uesKee hejer#ee SJeb efvejer#eCe efkeee ieee nw~ Je


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income group with simplified KYC norm

All the customers have been classifie

Low Risk category based on the Risk

The Prevention of Money Laundering Athe Parliament to prevent Money Laun

confiscation of property derived from

Laundering and for matters concerned

The Bank has implemented the pr

under:-

i) The Principal Officer has been ap

ii) Bank is submitting monthly Ca(CTRs) in respect of transactions

Financial Intelligence Unit- India (

iii) Bank is also submitting Suspicio

(STRs) and Counterfeit Currency

FIU-IND, as and when the same

iv) Maintaining and preserving th

provisions of the PML Act.

The Bank has procured Anti Mone

(AMLOCK) for identifying suspicious

PML Act. The software is being made o

implementation, the package shall ge

various types of transactions based o

The alerts shall be scrutinized and

transactions shall be reported to the F

Vigilance

The Vigilance machinery of the Bank

Vigilance Officer of the rank of Gene

with the concurrence of the Ministry

Vigilance Commission. He is assis

knowledge/background of investigatio

matters as well as banking, for tenderi

Authorities / Controlling Authorities in

Vigilance Department also focuses

preventive vigilance measures.

HUMAN RESOURCES DEVELOPME

Human Resources Department endea

nurturing organizational culture in

enthused and motivated to perform thei

eehle kej heneeve kejs~ kece Deee mecetn kes JeefeeeW kes Keeles Keesueles mecee

mejueerke=le kesJeeemeer ceeveob[ Meg efkeS ieS nQ~ meYeer ieenkeeW kees peesefKece OeejCee

kes DeeOeej hej Ge, ceOece Je vetve peesefKece eJeie& ceW Jeieer&ke=le efkeee ieee nw~

Oeve MeesOeve kees jeskeves leLee Oeve MeesOeve mes eehle mebheefe peyleer nslegee Oeve MeesOeve

ceW mebueive leLee Gmemes mebyebefOele ceeceueeW kes efueS mebmeo eje Oeve MeesOeve DeefOeefveece,

2002 DeefOeefveeefcele efkeee ieee~

yeQke kes DeefOeefveece kes GheyebOeeW kees efvecveevegmeej keeee&efvJele efkeee nw :

i) ecegKe DeefOekeejer keer efveegefe keer ieF& nw~

ii) yeQke efJeeere Deemetevee FkeeF&-Yeejle (SHeDeeF&et-DeeF&Sve[er) veF& efouueer kees

.10 ueeKe mes peeoe kes mebJeJenej kes mebyebOe ceW ceeefmeke vekeoer mebJeJenejefjhees& (meererDeej) emlegle kej jne nw~

iii) yeQke efJeeere Deemetevee FkeeF&-Yeejle (SHeDeeF&et-DeeF&Sve[er) kees mebosnemheo

meb JeJenej efjhees& (SmeerDeej) SJeb peeueer ceg e, efjhees& peye Yeer Gmekeer

heneeve keer peeleer nw, emlegle kej jne nw)

iv) heer SceSue DeefOeefveece kes GheyebOeeW kes Devegmeej efjkee[& kee jKejKeeJe SJeb

mebj#eCe efkeee pee jne nw~

yeQke ves Oeve MeesOeve efveJeejCe DeefOeefveece kes Devleie&le mebosnemheo meb JeJenejeW keer heneeve kes efueS Ske Sber ceveer ueeB[efjb ie meeHeJesej (Sceuee@ ke) Kejeroe nw~ Fme

meeHeJesej kees MeerIe ner keee&Meerue efkeee peeSiee~ Fmekes keeee&efvJele nesves hej efJelleere

ceeveob[eW kes DeeOeej hej efJeefYevve ekeej kes mebJeJenejeW kes yeejs ceW hewkespe meeJeOeeveer

efjhees& me=efpele kejsiee~ Fve efjheeses keer eveyeerve keer peeSieer Deewj eefo mebosnemheo

heeee peelee nw lees mebJeJenejeW keer metevee SHeDeeF&et-DeeF&Sve[er kees oer peeSieer~

meleke&lee

efJelle ceb$eeuee leLee kesvere meleke&lee Deeeesie keer menceefle mes efveegkele ceneeyebOekeesCeer kes cegKe meleke&lee DeefOekeejer yeQke keer meleke&lee JeJemLee kes ecegKe nQ~ meYeer

meleke&lee ceeceueeW ceW DevegMeemeefveke eeefOekeeefjeeW/efveeb$eke eeefOekeeefjeeW kees meueen

osves kes efueS GvnW Ssmes DeefOekeeefjeeW keer meneelee eehle nw, efpevnW peebe he[leeue,

DevegMeemeefveke keee&Jeener kes ceeceueeW kes meeLe ner meeLe yeQ efkebie %eeve keer he=


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Centre (ITTC) at Pune. During the yea

of the bank and 5750 employees from

imparted training in 1114 programm

colleges.

During the last one year, 598 newly

officers joined the Bank for whom exc

programmes were held at MDI, Belap

included programmes for Chartered

Executives, Finance Executives re

Induction programme for newly recruit

at STC Bhopal, Noida, Chennai and

and pre-promotion training programm

persons. Special programmes for la

retiring officers etc. were also held. T

was given to locational training progra

New Faculty members in IT and Skill c

2 selection processes. For new Facu

programme Train the Trainer was a

members were also nominated for trai

Executive Development ProgrammeDeputy General Managers and Assis

were arranged. Two such programm

Right Management at MDI and STC,

Development Institute, Gurgaon, a fi

newly promoted DGMs was held. For

Leadership Development programme

Administrative Staff Training College o

The Bank arranged 3 in-company pInstitute of Bank Management, Pune,

recruited Chartered Accountants, one

with credit as their area of interest and

for senior executives. An advanced p

arranged at State Bank Staff College,

Programmes for outside institutions we

training facilities. In bourse programm

was good participation from other Bana programme for CBI officers.

The Bank deputed 15 officers to foreig

in International Banking. 644 office

training at outside institutions in India

Deve mebie"veeW kes 5750 kece&eeefjeeW kees 1114 keee&eceeW ceW eefMe#eCe efoee

ieee~

efheues Ske Je


51/200

ground in the coming months. e-learn

made available to Employees under S

A significant achievement has been ma

system by making training module l ive

Management system. This has facilitat

various training programmes in the Ba

Incentive schemes are in place to enco

upgrade their knowledge by passin

conducted by the Indian Institute of B

and other reputed institutions.

The Global Human Resources talent i

of 14244 Officers, 17028 clerks and 8

31.03.2010.

IN-HOUSE PUBLICATIONS

The quarterly House Journal Taarang

with photographs from staff-members

from finance / banking industry and the

During the year 2009-10, many c

Taarangan to make the contents richer.

"Certificate Of Excellence", by Rotary

in the All India House-Magazine C

Association of Business Communic

awarded Silver and Bronze Trophy for o

and Special Column (Language) categ

Policies, Recruitment & Promotion:

Succession Planning for sensitive posi

to groom identified executives to take ov

National Institute of Bank Managem

entrusted with Manpower Assessment

provide career path for Clerical staff

Bank recruited 598 Officers in variousduring the year in order to meet the sh

Special Drive was undertaken to rec

Tribes category to clear backlog, w

recruited.

ieF&~ yeQke ves F&-uee\veie Meg efkeee nw efpemekes Deeves Jeeues cenerveeW ceW JeeJeneefjke leewj

hej ueeietnesves keer DeeMee nw~ mej[smke kes Devleie&le kece&eeefjeeW kees efJeefYevve ekeej

kes F&-uee\veie cee@[etue GheueyOe kejeS ieS nQ~

yeQke keer eefMe#eCe eCeeueer ceW ceeveJe mebmeeOeve eyebOeve eCeeueer kes Devleie&le ueeFJe-

sefvebie cee@[etue yeveekej Ske GuuesKeveere GheueefyOe neefmeue keer ieF& nw~ Fmemes yeQke

ceW efJeefYevve eefMe#eCe keee&eceeW ceW Dee@@ve ueeFve veeceebkeve nsleg ceoo efceueer~

Deheves %eeve kes Deeleveer kejCe kes ef ueS Fbef [eve Fvmeret Dee@@] He yeQefkeb ie SJeb

HeeFveebme (DeeF&DeeF&yeerSHe), SJeb Deve eefleefle mebmLeeDeesb eje Deeeesefpele efJeefYevve

hejer#ee GlleerCe& kejves hej meHe meomeeW kees esefjle kejves kes efueS eeslmeenve eespevee

Yeer eeueve ceW nw~

yeQke ceW pees JewefMJeke ceeveJe mebmeeOeve nw GmeceW 14244 DeefOekeeefjeeW , 17028 efueefhekeeW

SJeb 8404 mehees& meHe kee meceeJesMe eLee efoveebke 31.03.2010 kees nw~

Deebleefjke ekeeMeve

nceejer efleceener ie=n heef$ekee leejebieCe meHe meomeeW, ieenkeeW mes eehle HeesesieeHeme,Gvekes efJeeej Deewj efJelle SJeb yeQefkebie Geesie leLee Jeeheke mlej hej efJeMJe kes meceeeejueeleer nw~

Je


52/200

eJeie& Category ceee&March 20

kegue kece&eeefjeeW keer mebKee Total No. of employees 401

DeefOekeejer Officers 141

efueefheke Clerks 175

DeOeervemLe meHe Sub-Staff 84

Yeejleere keeee&ueeeW ceW In Indian Offices 397

efJeosMe efmLele keeee&ueeeW ceW In Overseas Offices 4

ceefnuee kece&eejer Women Employees 63

kegue keer leguevee ceW% % to Total 16.09

efJekeueebie kece&eejer Handicapped Employees 5

kegue keer leguevee ceW% % of Total 1.46

ceee&2010 March 2010 DeefOekeejerOfficers

efueefhekeClerks

DeOeervemSu

Devegmetefele peeefle SC 2504 2571

Yeejleere MeeKeeDeeW ceW kegue kee% % to total in India 17.89 15.27

Devegmetefele pevepeeefle ST 1087 1210


Deve efhe[er peeefleeeB OBC 414 586


Compliance with Reservation Policy

The Bank is complying with the re

Government of India. Special Recruitm

Head Office/Zonal Offices are func

implementation of the reservation p

grievances relating to SC/ST/OBC Em

Pre-recruitment Training and Pre-p

Clerical Cadre to General Banking O

Scale: I to Scale II promotions are impa

/ staff.

The Bank has designated two Gene

Deej#eCe veerefle kee Devegheeueve

yeQke, Yeejle mejkeej keer Deej#eCe veer efle kee Deveg heeueve kej jne nw~ eOeeve

keeee&uee/Deebeef ueke keeee&ueeeW ceW efJeMes


53/200

CUSTOMER SERVICE

Compliance to BCSBI Codes

The Bank is a voluntary member o

Standards Board of India (BCSBI). standardization of services, the Bank h

displayed on its website for informatio

i) Cheque collection policy ii) Compensa

of dues and repossession of Securi

redressal policy, v) Policy for settleme

missing persons vi) Rehabilitation po

has adopted the revised code of com

BCSBI in August 2009 to help ind

informed decisions on Banks products

Major initiatives

Quality Cells have been forme

Office and Branches in metropol

pursuing initiatives intended to

quality of customer services.

A web based Customer Complai

has been made live from 1st Janturnaround time.

Analysis of complaints is undert

find out the Root Cause of the

necessary corrective measures.

the year ended March 2010 ha

necessary action taken for

complaints.

A short film on staff behavior hpremises which is another initiativ

in staff attitude and improvement

will be shown to all the participan

Offices during meetings.

Incognito visits by Head Office staff, Z

District Managers, Zonal office, Secu

branches were undertaken. Compl

mandatory/regulatory and other requinformation to public /customers verifi

analysed and necessary action taken.

Banks Scheme of rewarding/hon

customers for their suggestions is w

ieenke meJeeyeermeerSmeyeerDeeF& kees[ kee Devegheeueve

yeQke, yeQefkebie kees[ SJeb Yeejleere ceeveke yees[& kee mJewefke meome nw~ mesJeeDees b kes

ceevekeer kejCe kees hetCe& kejves kes efueS yeQke ves ef JeefYevve veerefleeeb Debieer keej keer nQ

leLee pevemetevee kes efueS Deheveer JesyemeeF hej eoefMe&le efkeee nw~ Ssmeer veerefleeeb nw

(i) eske Jemetueer veerefle (ii) #eeflehetefle& veerefle (iii) yekeeee keer Jemetueer leLee eefleYetefle

hee@efuemeer kee hegveefOe& keej (iv) efMekeeele efveJeejCe veer efle (v) ueehelee Jeef eeeW kes

mebyebOe ceW oeJeeW kes efveheeve ns leg veeref le (vi) SmeSceF& keer hegveJee&me veer efle~ nceves

Deiemle, 2009 kees yeermeerSmeyeerDeeF& eje Ieesef


54/200

ac t es o Cas t d a a , C

updation, Cheque book issue,

Issuance of Pay order and Dema

2) Consequent to the proliferation obecause of limited Business

extended Business Hours view w

the extended business hours or d

select branches in the year 2007.

3) At present 92 branches are offerin

working facility. The realignmen

operational at 10 branches.

discontinued at 23 branches, hZonal Managers have been advis

branches for extending this facility

Right to Information Act, 2005

The legal Department also monitors an

Branches for proper implementation of

Act in addition to framing policy guidelin

all the Deputy Zonal Managers as Ce

Officers for branches under the Zone aManager as the Appellate Authority to

and appeals of the Public in time. B

Public Information Officer and Appella

Office to attend to requests received a

information about Bank required under

Act is placed on Banks website. Bank

applications and appeals received from

prescribed under the Act.

OFFICIAL LANGUAGE

Bank has continued its efforts to achiev

in Annual Implementation Programme

of India, Ministry of Home Affairs, N

implementation of Official Language Po

review meetings for all Official Langua

implementation of Hindi, Bank has als

quarterly Hindi Meeting and Rajbhasha

Reserve Bank of India and Governm

Finance.

Total 57 Hindi workshops were cond

hi h 1155 Offi /Cl k i

pecee, Heeme yegke Deeleve, eke yegke peeje kejvee, uee keje kee Heejeeueve,Yegieleeve DeeosMe Deewj ceebie [eHe peejer kejvee Fve yeQefkebie megefJeOee meefnle 92

MeeKeeSb keee&jle nQ~

2) SerSce vesJeke& kes efJemleej kes Heef jCeecemJeHe leLee efJemleeefjle keejesyeejmecee kes oewjeve meer efcele keejesyeej me=peve kes keejCe Yeer Je


55/200

g g

Managers regarding use of Hindi.

Regional Implementation Offices of M

Official Language Deptt. inspected o

across the country and due follow-up a

reports.

During the year Bank has receive

implementation of Official Language p

them are First prize to our New Delhi

Ranchi & Mumbai (North)zones where

under our convenership has been awa

Our Ujjain, Kolhapur & Hyderabad Zo

Patna has received second prize and

third prize from their respective TOL

awarded with consolation prize from

Committee, Pune.

The Bank's website, most of the infor

available in Hindi. For ATM users, Hi

available on ATM machines.

GOVERNMENT BUSINESS DEPART

Trustee Bank to New Pension Schem

The Bank secured a prestigious assig

years from Pension Fund Regulatory &

(PFRDA) for Central Govt. employe

Central Govt. Autonomous Bodies, Sta

State Govt. Autonomous Bodies a

Unorganized Sector. We have also go

to function as PoP (Point of Pres

Maharashtra, Gujarat, Bihar, Jharkh

provide ample opportunity to the Bank

from these sectors.

e-Payment facility to customers of o

The Bank has been providing facilities

Direct Taxes, as well as Indirect Taxes (

Tax) to the customers, through Banks IThe e-Payment facility is also available

Nhawa Shewa, Ballard Estate and M

tech-savvy, user-friendly and hassle-f

payment is available in all our bra

dividends for the Bank through custom

S e n eej Deeeeueke e eOekee ke mee e en oe ke G e ee e ke eej e e eeej e e eMe efkeee~ Yeejle mejkeej, ie=n ceb $eeuee, jepeYee


56/200

Savings Schemes and PPF Depos

branches at all important locations. W

the Govt. authorities for integrating

Systems with our Core Banking

e-governance through e-lekha and fina

Security Department

Security Department in the Bank is v

functioning under the control of Gene

Security). The department is headed by

and Security Officers recruited from

forces are posted at Zonal Officeresponsible to make security policy of

implementation.

The main focus of security manageme

(a) Ensure optimum security cove

through cost effective and innova

relevant to present day security m

(b) Reform and realign existing sec

currency chests and ensure q

efficient security norms.

(c) To create awareness on security b

all employees in the implemen

norms in the routine functionin

situations in a well planned and c

BANKS SUBSIDIARY / ASSOCIATE

Regional Rural Banks (RRBs)

Regional Rural Banks (RRBs): The B

Regional Rural Banks (after consoli

RRBs) operating in five States. These

46 districts with a network of 1018 bra

All the five RRBs have registered a

-during the year ended 31.03. 2010 T

and Advances of RRBs stood at Rs.4,339.44 crore respectively as at

RRBs have played a significant role

inclusion in their respective area of ope

No Frill accounts, issuance of Kisan

card products forming of Farmers C

t

efj]peJe& yeQke yeeb[, meeref veej efmeerpeve, meseE Jeime eespevee SJeb heerheer SHe pecee mesJee

emleeefJele kej jns nQ~ F&-uesKee SJeb efJeeere meceeJesMeve kes ceeOece mes F&-ieJeveXme kees

mejue kejves nsleg Gvekeer keesj SkeeGbeEie efmemce kees nceejer keesj yeQeEkeie efmemcekes meeLe Skeerke=le kejves kes efueS nce mejkeejer eeefOekeeefjeeW kes meeLe mecevJee kej

jns nQ~

megj#ee efJeYeeie

yeQke ceW megj#ee efJeYeeie Deefle megJeJeefmLele nw SJeb ceneeyebOeke (megj#ee eYeejer) kes

efveeb$eCeeOeerve keee&jle nw~ efJeYeeie kes ecegKe cegKe megj#ee DeefOekeejer nQ SJeb j#ee/

hewje efceefuejer keesme& mes Yeleea efkeS ieS megj#ee DeefOekeejer Deebeefueke keeee&ueeeW ceWheomLe efkeS ieS nQ~ yeQke keer megj#ee veerefle efveOee&jCe kes efueS efJeYeeie Gejoeeer nw

Deewj megj#ee keeee&vJeeve megefveefele kejlee nw~

megj#ee eyebOeve kes cegKe efyebogefvecveefueefKele nQ :

(ke) kece ueeiele SJeb veJeesvces


57/200

100 % CBS by end September,2011.

The Aryavart Gramin Bank sponsored

prestigious Indian Power Award 2Innovative financing Scheme on Sola

from Govt. of India, Ministry of Power.

BANKS SUBSIDIARY / ASSOCIATE

BOI Shareholding Ltd. (BOISL)

Banks association with the Capital M

nine decades. The clearing and settlem

Stock Exchange (BSE) was being ha

1921.In 1989, Bank set-up BOI Sha

joint venture with BSE, to manage the

of the Stock Exchange. The Bank is ho

capital of Rs.2 crore.

The company has been carrying out

settlements of trades executed by me

on the Exchange, BOISL is also a De

of both the Depositories viz. the Nation

Ltd. (NSDL) and the Central Deposito

(CDSL) and provides depository se

members and investors. BOISL is the

House in the country to have been awa

ISO Certification.

BOISL earned a net profit of Rs. 709.2

against Rs. 531.93 lacs earned during

Securities Trading Corporation of In

STCI Ltd. was one of the leading Prima

It was established in 1999 with the ob

gilt and other debt security market th

vibrant secondary market. Bank of Ind

the single largest stakeholder in STCI h

Rs.380 crore. The Company is an as

Bank in terms of Accounting Standa

Institute of Chartered Accountants of I

With growing perception that Primary

longer an attractive business, STCI

Primary Dealership business to its new

Primary Dealer Ltd. which commenc

g

Deieues ejCe ceW 100% meer yeerSme eeefhle nslegMes


58/200

Bank of India, Union Bank of India a

Insurance Company, Japan have form

Life Insurance Company to take adinsurance market and to provide qual

its clients spread across the length and

The company has commenced ins

February 2009. BOI holds 51% in t

Capital of Rs.250.00 crores.

The Bank holds 51% stake in the c

Bank holds 23% stake and Dai-ich

Company, Japan holds 26%. In termAgreement the Bank has proposed t

favour of Union Bank.

STRATEGIC INVESTMENT / ALLANC

Central Depository Services (India)

The Company was promoted in 1997

Exchange, Mumbai and Bank of India

The main objective of promoting CDSpace of dematerialization of scrips, br

investors in the capital market and

environment as countrys second depo

stake in the paid up capital of Rs.104.

has paid 10% dividend in FY 2007-08

ASREC (India) Ltd.

The Company was floated by the Spe

Unit Trust of India to undertake sreconstruction activities. The company

of Registration by RBI under the SAR

second half of FY 2004-05 and has

fledged operation. Bank has increase

company from 10.51% to 26.02%

Specified Undertaking of the Unit Tru

capital of the company which is Rs. 27

Credit Information Bureau (India) LtCIBIL is the first credit information

incorporated in August, 2000 for pro

and risk analysis services to the Bankin

sectors. The company launched its con

i FY 2004 05 d i l b

yeQke Dee@@] He Fbef [ee, et efveeve yeQ ke Dee@@]He Fb ef[ee SJeb oeF&-Feer cet egDeue ueeF&He

FbMeesjWme kebheveer, peeheeve ves Je=efMeerue yeercee yeepeej kee ueeYe uesves leLee osMe ceW

eejeW Deesj Hewues Deheves ieenkeeW kees efJeMJemeveere iegCeJellee yeercee GheueyOe kejves kesefueS mej etefveeve oeF&-Feer ueeF&He FbMeesjWme kebheveer ieef"le keer nw~ kebheveer ves

HejJejer, 2009 mes yeer cee keejes yeej eejbYe efkeee nw~ kebheveer keer eolle hetbpeer ceW

yeerDeesDeeF& kee .250.00 kejes[ kee 51% DebMe nw~

kebheveer ceW yeQke Dee@@]He Fbef[ee keer Oeeefjlee 51% nw, peyeefke etefveeve yeQke kee efnmmee

23% leLee oeF&-Feer ueeFHe FbMeesjW me kebheveer, peeheeve keer Oeeefjlee 26% nw~

mebegkele Gheece kejej keer Melees kes Devegmeej yeQke ves Deheveer 3% Oeeefjlee etefveeveyeQke kes he#e ceW DeblejCe kejvee emleeefJele efkeee nw~

cenlJehetCe&efveJesMe/ie"pees[

meWue ef[hee@efpejer meefJe&mespe (Fbef[ee) efue. (meer[erSmeSue)

en kebheveer yebyeF& me@ke SkemeeWpe, cegbyeF& eje yeQke Dee@@]He Fbef[ee Je Deve yeQkeeW kes

meeLe 1997 ceW eJeef le&le keer ieF& Leer~ meer[er SmeSue kees eJeef le&le kejves kee cegKe

GsMe efmehme kes ef[ceserkejCe keer ieefle ceW Je=ef Je hetbpeer yeepeej ceW efveJesMekeeW keermenYeeefielee ye{eves Deewj osMe keer efleere ef[hee@efpejer kes he ceW Ske eeflemheOee&lceke

JeeleeJejCe efveefce&le kejvee Lee~ meer[erSmeSue keer . 104.50 kejes[ keer eolle hetbpeer

ceW yeQke kee efnmmee 9.57%nw~ meer[erSmeSue ves efJeeere Je


59/200

Metal Exchange. Bank has a nomina

equity participation in the capital of

associated with one of the major comm

also handles clearing bank functions o

Bullion Exchange Branch. MCX paid a

FY 2008-09.

National Collateral Management Ser

National Collateral Managements Serv

the National Commodity and Derivates

It was incorporated on 28.9.2004 to

collateral management services for s

controlling securities and commodities.

for the development of trades on comm

valuation, grading, insuring, securin

clearing and forwarding of securities

Bank holds a stake of 10.17% (Rs.3 cr

of the company, thus providing oppo

harness its association with NCMSL

members and clients.

SME Rating Agency of India Ltd. (SM

SMERA was set up during FY 2005-06

with Dun & Bradstreet, one of the leadin

SMERAs primary objective is to p

transparent and reliable ratings which

and easier flow of credit to SME sect

stake of 4% in the equity capital of the

Recent InvestmentsDuring last financial year i.e. 2009-10

following companies as Strategic Inve

MCX Stock Exchange Ltd. A st

by Multi Commodity Exchange L

investment of Rs. 25 crs. (4.6% s

United Stock Exchange Ltd.

Rs. 7.50 crores (0.05% stake) in Equifax Credit Information Serv

promoted by Equifax Internationa

credit information. Bank has take

Rs. 75 crores Capital of the comp

nw~ yeQke kee ScemeerSkeme keer hetbpeer ceW ecegKe keceesef[er SkemeeWpe ceW mes nke kes meeLe

meneesieer nesves keer ef mes FefkeJeer menYeeefielee kes he ceW 2% kee meeceeve efnmmee

nw~ yeQ ke yegefueeve SkemeeWpe MeeKee kes ceeOece mes SkemeeWpe kes yeQke meceeMeesOevekeeees kees Yeer mebYeeuelee nw~ ScemeerSkeme ves efJelleere Je


60/200

Corporation Limited (Rs. 2.67 crs.),

Corporation Ltd (Rs. 1.11 crs.)., M

HIMCON (Rs. 15,00/-.), HARDICIN

(Rs. 40,000/-), NITCON (Rs. 20,000/-)

Indo Zambia Bank Ltd. (IZB)

IZB is a joint venture of three Indian B

Bank of Baroda, Central Bank of In

Zambia. Each of the Indian Banks h

capital, whereas Government of Zambi

capital. Indo-Zambia Bank Ltd. is a fine

joint venture. It enjoys the patronage

the Government of the Republic of Zam

of India.

PT Bank Swadesi Tbk, Indonesia

During FY 2007-08 the Bank acquire

Bank Swadesi Tbk for a total conside

crores. The Bank has three Directors o

Swadesi Tbk.

BANK OF INDIA (TANZANIA) LTD.

Bank of India (Tanzania) Ltd. is a wh

the Bank and has commenced opera

with first branch at Dar-Es-Salaam

Directors on the Board.

HERITAGE BUILDINGS

The Bank has the distinction of proud o

Buildings at Flora Fountain, Fort, M

Ahmedabad.

DIRECTORS RESPONSIBILITY STA

The Directors confirm that in the pr

accounts for the year ended March 31

The applicable accounting standa

along with proper explanation

departures, if any;

The accounting policies, framedguidelines of the Reserve Bank o

applied;

Reasonable and prudent judgem

made so as to give a true and

SceheermeerDees Sve (.0.16 kejes [), SeDeeF&ScemeerDees Sve (.1500/-),

SeSDeej[erDeeF&meerDeeF& Sve (.10,000/-), SceDeeF&ermeerDees Sve (.40,000/-),

SveDeeF&ermeerDeesSve (.20000/-) Deeefo ceW Yeer yeQke kee cenlJehetCe& efveJesMe nw~

Fb[es peeefcyeee yeQke efue. (DeeF&pes[yeer)

Fb[es peeefcyeee yeQke efue. leerve Yeejleere yeQkeeW eLee yeQ ke Dee@@]He Fbef[ee, yeQke Dee@@]He

ye[ewoe, mesv^ue yeQke Dee@@]He Fbef[ee Deewj peeefcyeee mejkeej kee Ske mebegkele Gece

nw~ eleske Yeejleere yeQke kes heeme 20% Mesej hetbpeer Oeeefjlee nw, peyeefke peeefcyeee

mejkeej keer Mesej hetbpeer Oeeefjlee 40% nw~ Fb[es-peeefcyeee yeQke efue. meHeue mebegkele

Gece kee Ske yeef{]ee GoenjCe nw~ Fmes oes efYevve ef ce$eJele ieCejepeeW peeefcyeeeieCejepe mejkeej Deewj Yeejle mejkeej kee mebj#eCe efceuee ngDee nw~

heerer yeQke mJeosMeer eryeerkes, Fb[esvesefMeee

yeQke ves ef Jelle Je


61/200

Banks Philosophy on code of Gove

The Banks corporate governance phil

its total commitment to ethical practic

business, while striving to enhance s

interrelation between the Board, the

functionaries is so configured as to ha

roles and improved corporate perform

committed to following high disc

transparency. In line with the best p

formed various committees of the B

aspect of business.Board of Directors :

The Bank is constituted under th

(Acquisition and Transfer of Under

amended from time to time. The ge

direction and management of the affa

Bank is vested in the Board of Directo

Chairman and Managing Director.

The Chairman & Managing Director and

are appointed by the Central Gover

under review the composition of the B

Shri Alok Kumar Misra

(From 05.08.2009)

Chair

Direc

Shri T.S.Narayanasami

(Upto 31.05.2009)

Chair

Direc

Shri B.A.Prabhakar ExecuShri M.Narendra Execu

Shri Tarun Bajaj Nomi

Gove

Shri A.V. Sardesai Nomi

of Ind

Shri K.S. Sampath Part-T

Direc

Shri Indresh Vikram Singh Part-TDirec

Dr. Shanta Chavda Part-T

Direc

Shri Kamal K. Gupta Part-T

efveeb$eCe mebefnlee hej yeQke keer efJeeejOeeje

yeQke keer keeheexjs efveeb $eCe ef JeeejOeeje MesejOeejke kes cet ue kees ye{eves nslegeeemejle jnles ngS, Deheves keejesyeejer mebeeueve ceW vewefleke JeJenej kes eefle hetCe&leeeeefleye nw~ yees[&, keee&heeueke SJeb Deve keee&keeefjeeW kes Deehemeer mebyebOe Fme YeebefleIegues-efceues nQ efke GvnW Deueie-Deueie kejkes osKevee keef"ve nw~ yeQke Ge ekeerkejCeceevekeeW leLee heejoefMe&lee kes eefle Yeer keefye nw~ yesnlej keee&eCeeueer kes he ceW yeQke ves Deheves keejesyeej kes eles ke henuetkeer efveiejeveer kes ef ueS ef JeefYevve yees[&meefceefleeeb yeveeeer nQ~

efveosMeke ceb[ue

yeQke keer mLeehevee mecee mecee hej eLee mebMeesefOele yeQkekeejer kebheveer (GheeceeW keeDepe&ve Deewj DeblejCe) DeefOeefveece, 1970 kes DeOeerve keer ieeer nw~ yeQke kes keejesyeejDeewj keee& kee meeceeve DeOeer#eCe, efveosMeve Deewj eyebOeve kee keee& efveosMeke yees[&

kes heeme jnlee nw efpemekeer DeOe#elee, DeOe#e SJeb eyebOe efveosMeke eje keerpeeleer nw~

DeOe#e SJeb eyebOe efveosMeke Deewj keee&heeueke efveosMekeeW keer efveegefe keWere mejkeej eje keer peeleer nw~ meceer#eeOeer ve Je


62/200

the Executive Directors, are non exe

Board. The Directors representing sh

other than the Central Government and

Directors are appointed by the Ce

nominee of Reserve Bank of India ar

within the meaning of Clause 49 of the

of the Directors is a relative of other Di

Brief Profile of Shri Alok Kuma

Managing Director who joined the B

Shri Alok Kumar Misra was National and is M.S.c. (Statistics) from Lucknow

he has various professional qualificati

Post Graduate Diploma in Personnel

Associate of Indian Institute of Banke

Certified Institute of Bankers of Scotlan

Zambian Institute of Bankers (FZIB), A

Institute of Banking & Finance (AAIBF

Shri Misra joined Bank of India in

Probationary Officer and worked in

branches and administrative offices

International Division of the Bank in Ind

Zambia Bank.

Shri Alok Kumar Misra held the post of

Canara Bank from 24th March 2006 to

Chairman & Managing Director of Oriefrom 4th June 2007. Shri Misra has tak

and Managing Director of Bank of

5th August, 2009.

OTHER PARTICULARS OF DIRECTORS

efveosMekeeW kes veece

Name of Directors

yeQke kes FefkeJeerMesejeW keer Oeeefjlee

Holding of

Banks Equity

efveosMeke kes he ceWefveegefe keer leejerKe

Date of

Appointment

efJeMes


63/200

Name of Directors

MesejeW keer Oeeefjlee

Holding of

Banks Equity

shares

efveegefe keer leejerKe

Date of

Appointment

as Director

Area of

Expertise

Directorships of other

Companies

2. eer yeer.S. eYeekej yeQefkebie i) SSmeDeejF&meer (Fb) efue.ii) yeerDeesDeeF& MesejneseEu[ie efue.iii) yeerDeesDeeF& lebpeeefveee efue.iv) mej-etefveeve oeF&-Feer ueeFHe

FbMeesjWme kebheveer efue.

v) heer.er. yeQke mJeosMeer eryeerkes.Shri B.A. Prabhakar - 15.10.2008 Banking i) ASREC (India) Ltd.

ii) BOI Shareholding Ltd.

iii) BOI Tanzania Ltd.

iv) Star Union Dai-ichi Life

Insurance Company Ltd

v) P.T.Bank Swadeshi Tbk

3. eer Sce.vejsv- 06.11.2008

yeQefkebie Fb[es peebefyeee yeQke efue.Shri M. Narendra Banking Indo Zambia Bank Ltd.

4. eer leCe yepeepe eMeemeve i) vetFbef[ee FbMeesjWme keb. efue.ii) Seerkeuej FbMeesjWme kebheveer

Dee@He Fbef[ee efue.iii) SjeriesMeve Sb[ Jeej efjmeesmexme

HeeFveevme keejheesjsMeve efue.iv) pevejue FbMeesjWme keeheexjsMeve

Dee@]He Fbef[eei) etveeFs[ Fbef[ee FbMeesjWmekeb. efue.

Shri Tarun Bajaj - 05.07.2007 Administration i) New India Assurance

Co. Ltd

ii) Agriculture Insurance

Company of India Ltd.

iii) Irrigation & Water

Resources Finance

Corporation Ltd.

iv) General Insurance

Corporation of India

v) United India Insurance

C L d



64/200

Name of Directors

MesejeW keer Oeeefjlee

Holding of

Banks Equity

shares

efveegefe keer leejerKe

Date of

Appointment

as Director

Area of

Expertise

Directorships of other

Companies

8. [e@. Meeblee eeJe[e- 19.01.2009

meeefnle-

Dr. Shanta Chavda Literature

9. eer S.kes.ceesleeeo600 15.07.2008

yeQefkebie-

Shri A.K. Motayed Banking

10. eer Sce.Sve.ieesheerveeLe yeQefkebie i) uee@euer meeuetMebme Sb[ efjmee&efue.

ii) DeeF&meerDeeF&meerDeeF& et[WefMeeuem keb.efue.

Shri M. N. Gopinath 100 25.10.2008 Banking i) Loyalty Solutions &

Research Ltd.

ii) ICICI Prudential Trust

Co. Ltd.

11. eer ekeeMe heer. ceeuee yeQefkebie 1. DeeF&SHemeerDeeF& efue.

2. me@ke neseEu[ie keejheesjsMeveDee@]He Fbef[ee efue.

Shri Prakash P. Mallya 500 25.10.2008 Banking 1. IFCI Ltd.

2. Stock Holding

Corporation of india Ltd

12. eer heer.Sce. efmejepegerve600 25.10.2008

eMeemeve peKeeT meeu keb. ee. efue.

Shri P.M. Sirajuddin Administration Jakhau Salt Co. Pvt.Ltd.

In compliance of Clause 49 of the

Bank has considered the Chairmans

Audit Committee and the In

Grievance committee alone.

meteerkejCe kejej kes KeC[ 49 kes Devegheeueve ceW yeQke ves kes Jeue uesKee hejer#eemeefceefle Deewj MesejOeejke efMekeeele efveJeejCe meefceefle keer DeOe#elee/meomeleehej efJeeej efkeee nw~

s & r w W b



65/200

Details of attendance of the Directors at the Board Meetings are as follows:

efveosMekeeW kes veece Name of DirectorsGheefmLeefle kee DeefYeuesKe

Attendance Recorded

M

eer Deeueeske efceee Shri Alok K. Misra 9

eer er.Sme.veejeeCemeeceer Shri T.S. Narayanasami 2

eer yeer.S.eYeekej Shri B.A.Prabhakar 13

eer Sce.vejsv Shri M.Narendra 13

eer leCe yepeepe Shri Tarun Bajaj 11

eer S.Jeer.mejosmeeF& Shri A.V. Sardesai 13

eer kes.Sme.mebhele Shri K.S.Sampath 11

eer FbsMe Jeer. efmebn Shri Indresh V.Singh 9

[e@. Meeblee eeJe[e Dr. Shanta Chavda 13

eer kes.kes.ieghlee Shri K.K. Gupta 7

eer S.kes.ceesleeeo Shri A.K.Motayed 13

eer jecesMJej emeeo Shri Rameshwar Prasad 4

eer Sce.Sve.ieesheerveeLe Shri M.N. Gopinath 9

eer ekeeMe heer. ceeuee Shri Prakash P. Mallya 13eer heer.Sce.efmejepegerve Shri P.M. Sirajuddin 13

Management Committee of the Boa

The Management Committee of the Bo

the provisions of the Banking Comp

Transfer of Undertakings) Act, 1970

powers vested in the Board in respec

compromises/write off proposals and fi

As on 31.3.2010 it comprised of 8 me

Chairman and Managing Director,

Chartered Accountant Director, nomine

non-official Directors.

yees[& keer eyebOeve meefceefle

yees[& keer eyebOeve meefceefle kee ie"ve yeQkekeejer kebheveer (GheeceeW kee Depe&ve DeewjDeblejCe) DeefOeef veece, 1970 kes eeJeOeeveeW kes Deveg meej ef keee ieee nw Deew j Jen

efJelleere mJeerke= efleeeW, mecePeewleeW/yee emleeJeeW, Jeeo/Deheerue oeej kejves Deeefo kes

mebyebOe ceW yees[& kees eehle meYeer DeefOekeejeW kee eeesie kejleer nw~ eLee efoveebke31.03.2010 kees Fme meefceefle ceW 8 meome Les efpeveceW DeOe#e SJeb eyebOe efveosMeke, 2 keee&heeueke efveosMeke, meveoer ues Keekeej efveos Meke, Yeejleer e efj]peJe& yeQke kes veeefceleer Deewj 3 DebMekeeef ueke DeMeemekeer e iewj-keee& heeueke efveosMekeMeeefceue nQ~



66/200

efveosMeke kee veeceName of Directors

GheemLeele keeDeefYeuesKe

AttendanceRecord

Gveke keeekeeue keoewjeve Deeeesefpele yew"ke

Meetings heldduring their tenure

Pe

eer Deeueeske efceee Shri Alok K. Misra 16 16 05.08.2eer er.Sme.veejeeCemeeceer Shri T.S. Narayanasami 3 3 01.04.2eer yeer.S.eYeekej Shri B.A.Prabhakar 22 22 01.04.2eer Sce.vejsv Shri M. Narendra 22 22 01.04.2eer S.Jeer.mejosmeeF& Shri. A.V. Sardesai 21 22 01.04.2eer kes.Sme.mebhele Shri K.S. Sampath 6 10 22.07.2eer FbsMe Jeer. efmebn Shri Indresh V. Singh 9 10 29.11.2

[e@. Meeblee eeJe[e Dr. Shanta Chavda 9 9 29.05.

eer kes.kes. ieghlee Shri K.K. Gupta 9 9 01.04.2

eer S.kes.ceesleeeo Shri A.K.Motayed 5 7 22.01.2

eer jecesMJej emeeo Shri Rameshwar Prasad 6 6 01.04.2

eer Sce.Sve.ieesheerveeLe Shri M.N. Gopinath 5 11 01.08.2

eer ekeeMe heer. ceeuee Shri Prakash P. Mallya 6 6 01.04.2

eer heer.Sce.efmejepegerve Shri P.M. Sirajuddin 7 701.04.2

01.02.2

Audit Committee of the Board :

The Audit Committee of the Board (AC

by the Board of Directors as per the g

Bank of India. The ACB provides dire

the operation of the total audit function

The Audit Committee comprises of 6

Directors, Government Nominee Dire

India Nominee Director and 2 non of

Shri Tarun Bajaj is the present Chairma

of the Board. During the year, the Audi

on the following dates:

29.04.2009 29.05.2009 16.06.2009 17.07.2009 27.07.2009

29.10.2009 25.01.2010 28.01.2010

The attendance record of the memb

s W s

GheefmLeefle keeDeefYeuesKe

Gvekes keee&keeue kes oewjeveDeeeesefpele yew"keW

yees[& keer uesKee hejer#ee meefceefle :

yees[& keer uesKee hejer#ee meefceef le (Smeeryeer) kee ie"ve Yeejleere efj]peJe& yeQ ke kesefoMeeefveoxMeeW kes DevegmejCe ceW efveosMeke ceb[ue eje efkeee ieee ieee nw~ en SmeeryeerefveosMe osleer nw leLee yeQke kes mebhetCe& uesKee-hejer#ee keee& kes heefjeeueve kee hee&Jes#eCe

Yeer kejleer nw~ uesKee hejer#ee meefceefle ceW 6 meome nQ, DeLee& le keee&heeueke efveos Meke, kesveremejkeej eje veeefceleer efveosMeke, Yeejleere efj]peJe& yeQke kes veeefceleer efveosMeke Deewj 2DebMekeeefueke iew j mejkeejer efveos Meke~ eer leCe yepeepe yees [& keer ues Kee hejer#ee

meefceef le kes Jele&ceeve DeOe#e nQ~ Je


67/200

prior to placing before the Board of Dir

Shareholders/Investors GrievanceIn compliance of SEBI guidelines on C

provided in clause 49 of the Listing Ag

Investors Grievances Committee ha

redressal of the grievances of the sha

regard to the transfer of shares, non-r

non-receipt of dividends etc. All the

received from the investors during the

redressed till date. Investors grievance

to within seven days on receipt of the r

Committee comprises of Executiv

independent Directors. It is headed by

Shareholder Director of the Bank.

Shri Rajeev Bhatia, Company Secre

officer of the Bank for this purpose.

The Committee met 4 times during th

dates:

16.06.2009 30.09.2009 21.12.2009

The attendance record of the member

efveosMekeeW kes veece Name of Directors

GheefmLeefle keeDeefYeuesKe

AttendanceRecord

Gvekes keee&keeue kesoewjeve Deeeesefpele yew"keW

Meetings heldduring their

tenure

eer ekeeMe heer. ceeuee Shri.Prakash P.Mallya 4 4 01.0

eer.yeer. S. eYeekej Shri B.A.Prabhakar 4 4 01.0

eer Sce. vejsv Shri M.Narendra 4 4 01.0

eer heer. Sce. efmejepegerve Shri.P.M.Sirajuddin 4 4 01.0

Attendance of the Directors at the

Meeting

Shri B.A. Prabhakar, Shri M. Narendr

K.S. Sampath, Dr. Shanta Chavda,

Rameshwar Prasad, Shri P.P. Mally

attended the last i e Thirteenth Ann a

efkeS peeves nslegGvekes mece#e emlegle efkeS ieS~

MesejOeejkeeW/efveJesMekeeW keer efMekeeele efveJeejCe meefceeflekeeheexjs efveeb$eCe hej mesyeer kes efoMeeefveoxMeeW kes lenle me@ke SkemeeWpe kes meteerkejCe kejej kes Keb[ 49 kes Deveg heeueve ceW MesejeW kes DeblejCe, legueve he$e keer Deeeefhle, ueeYeebMe keer Deeeefhle Fleeefo mes mebyeefOele efMekeeeleeW kes efveJeejCe kes efueSMesejOeejkeeW/efveJesMekeeW keer Ske efMekeeele efveJeejCe meefceefle kee ie"ve efkeee ieeeLee~ Je


68/200

Telephone Exchange, Off. Andheri

Andheri (East), Mumbai - 400 072 PFax- 022-28591568, E-mail : boi@sh

OR at

Sharepro Services (India) P

Relation Centre, 912, Raheja

Journal House, Nariman Point, Mum

Apart from the above, investors may a

its Share Department at:

Star House, 8th Floor, East W

Bandra-Kurla Complex, Bandra (E

Phone 022-66684444, Fax- 022-666

E-mail: headoffice.share@bankofind

The authority to approve transfer and t

delegated to a Share Transfer Com

Chairman & Managing Director and in

Director of the Bank and two other d

provisions of Bank of India (Shares &

2007. The Committee met 23 times

share certificates received for transfe

been processed and dispatched.

Deece meYee keeryew"keW : General Body Meetings :

yew"ke kee mJeheNature of Meeting efoveebke SJeb meceeDate & Time mLeeveVenue

lesjnJeeR Jeeef


69/200

Banking Companies (Acquisition and T

Act 1970 and Nationalised Banks (Mana

Provisions) Scheme 1970. SEBI has

entities which are not companies, bu

private and public sector banks, financ

companies etc.) incorporated under oth

the listing agreement will apply only t

not violate their respective statutes a

the relevant regulatory authorities.

i) Remuneration of Directors :

The remuneration of the Chairm

and the Executive Director is

Government. The Bank does not

the independent directors except

as under:

For Board Meeting : Rs.5

For Committee Meeting : Rs.2

ii) Disclosure of Material TransaRelationship

Other than those in the normal cou

the Bank has not entered into a

transaction with its promoters, dire

their subsidiaries or relatives etc.

conflict with the interests of the B

no pecuniary relationship or tr

executive director vis-a-vis the ba

It is an established practice in the

not take part in the deliberations

Sub-Committees of the Board, w

them or to their relatives are disc

iii) Proceeds From Public is

Preferential issues etc.

During the year under review, theits equity capital by way of Public/R

issue of Equity Shares. Howeve

review, the Bank has raised the

private placements in India.

DevlejCe) DeefOeefveece,1970 Deewj je


70/200

The funds were raised with th

augmenting Tier-I&II Capital fo

Adequacy Ratio and for improving

of the Bank and the same we

purpose.

iv. No penalties or strictures were i

any of the Stock Exchanges,

Authority on any matter relating t

the year under review.

v. As required under clause 47[c] o

entered into by Bank of India w

certificate is obtained every six m

Company Secretary, with regard

transfer, transmission, sub-divisio

and exchange of equity shares

lodgement. The certificates are

NSE, where the equity shares are

issuance and also placed before

vi. In terms of SEBIs circular No.D&

December 31, 2002 a secretarial A

on a quarterly basis by a firm

secretary, for the purpose of, inter

total admitted equity share capit

and in the physical form with the to

capital of Bank of India. Certificat

placed before the Board of DireBSE and NSE, where the equity

are listed.

Means of Communication :

Rate

3 09.12.2009 yeerDeesDeeF& FveesJesefJe hejhesegDeue [sy FvmceW efmejerpeVBOI Innovative Perpetual Debt Instruments - V

9.00%

4 20.01.2010yeerDeesDeeF&Dehej efejIIyeeB[ efmejerpeVBOI Upper Tier II Bond Series V

8.54%

kegueTOTAL

jkece G"eves kee eeLeefceke GsMe hetbpeer heee&hlelee Devegheele meg{ kejves nslegejCe IDeewj II hetb peer eehle kejvee Deewj yeQ ke kes oerIee&JeefOe mebmeeOeveeW keesmegOeejvee Deewj Fme jkece kees Fmeer GsMe kes efueS ueieeee nw~

iv. efkemeer Yeer me@ke SkemeeW pe, mesyeer ee Deve JewOeeefveke eeefOekeejer ejemeceer#eeOeerve Je


71/200

p g y p

Stock Exchange.

efJelleere kewueW[j 1 Deewue2010mesFinancial Calendar : From 1stApril, 2010

yeQke kes efJelleere heefjCeeceeW hej efJeeej kejves Deewj ueeYeebMe keer efmeHeeefjMe kejves kes efueS yees[&keer yew"keBoard Meeting for considering Annual Audited Accounts of Bank of India

and recommendation of dividend

MegeJeej 07 ceF&, 2010

7th May, 2010, Friday

14JeeR Jeeef


72/200

e.meb.Sr.No.

e=bKeuee kee efJeJejCe Particulars of the issue

kegue cegue

(.kejes[ ceW)Total Value

(Rs. in Crores)

1 7.25% yeerDeesDeeF& e=bKeuee IV - 2010* 7.25% BOI SERIES IV-2010* 450.00 D

2 5.88% yeerDeesDeeF& e=bKeueeV - 2014 5.88% BOI SERIES V-2014 350.00 D

3 5.90% yeerDeesDeeF& e=bKeuee VI - 2014 5.90% BOI SERIES VI-2014 200.00 D

4 7.10 yeerDeesDeeF& e=bKeueeVII - 2014 7.10% BOI SERIES VII-2014 300.00 D

5 7.50% yeerDeesDeeF& e=bKeueeVIII - 2014 7.50% BOI SERIES VIII-2014 750.00 D

6 8.00%yeerDeesDeeF& e=bKeueeIX 2016 8.00% BOI SERIES IX-2016 200.00 D

7 9.35% Ge ejCeII e=bKeueeI - 2021 9.35% UPPER TIER II SERIES-I-2021 732.00 D

8 11.15% Ge ejCeII e=bKeueeII - 2023 11.15% UPPER TIER II SERIES-II-2023 500.00 D

9 8.45% Ge ejCeII e=bKeueeIII - 2024 8.45% UPPER TIER II SERIES-III-2024 500.00 D

10 8.50% Ge ejCeII e=bKeuee - IV2024 8.50% UPPER TIER II SERIES-IV-2024 500.00 D

11 8.54% Ge ejCeII e=KebueeV2025 8.54% UPPER TIER II SERIES-V-2025 1000.00 D

12 10.55% DeeF&heer[erDeeF& yeeb[ e=bKeuee - I 10.55% IPDI Bonds-Series - I 400.00 D

13 10.45% DeeF&heer[erDeeF& yeeb[ e=bKeuee - II 10.45% IPDI Bonds-Series - II 100.00 D

14 10.40% DeeF&heer[erDeeF& yeeb[ e=bKeuee - III 10.40% IPDI Bonds-Series - III 155.00 D

15 8.90% DeeF&heer[erDeeF& yeeb[ e=bKeuee - IV 8.90% IPDI Bonds-Series - IV 400.00 D

16 9.00% DeeF&heer[erDeeF& yeeb[ e=bKeuee - V 9.00% IPDI Bonds-Series - V 325.00 D

kegue TOTAL 6862.00

* Redeemed on May 1, 2010

All these bonds are listed on National

Ltd. and the Bank has paid the Annual

to the Stock Exchange.

Credit Ratings got from outside age

2010 are given below:

SpeWmeer Agency

cet[erme FvJesmj meefJe&me (cet[erme)Moodys Investor Service (Moodys)

& r

* 1 ceF& 2010 ceW MeesOeve efkeee ieee

Fve meYeer yeeB[eW kee vesMeveue me@ ke SkemeeWpe Fb.efue. hej meteerkejCe ef keee ieeenw leLee yeQ ke ves me@ ke SkemeeW pe kees Je


73/200

CRISIL Limited For Bonds

meerDeejDeeFSmeDeeFSue (efeefmeue) efue.- pecee eceeCe he$e nslegCRISIL Limited For Certificate of Deposits

efyekeJeke& jsefbime Fbef[ee ee.efue. FMetDej jseEieBrickwork Ratings India Pvt Limited-Issuer Rating

efyekeJeke& jsefbime Fbef[ee ee.efue. yeeB[ nslegBrickwork Ratings India Pvt Limited-For Bonds

MesejOeejkeeW keer mebKeeNo. of share holders

MesejeW keer mebKeeNo. of shares

cetle&/ele#e Physical 125536 19272055

SveSme[erSue NSDL 67947 163364612

meer[erSmeSue CDSL 25269 342538833

kegue Total 218752 525175500

eLee efoveebke 31.03.2010 MesejOeeefjlee kee mJehe

SHAREHOLDING PATTERN AS ON 31.03.2010

(I) (ke) MesejOeeef jlee mJehe oMee&vesJeeuee efJeJejCe(I) (a) Statement showing Shareholding Pattern

Je


74/200

kee meKee

Numberof Share-

holders

meKee

Total No. ofshares

ce Meeje

keer mebKeeNumber of

shares held

in demated

form

hej kegue MeejOeeejlee kee eele

Total shareholding asa percentage of tota

number of shares

kes eefleMele kes he ceWAs a percentage of

Jeefeiele/efnb. De.he. Individuals/H.U.F 0 0 0 0.00 0

kesvere/jepe mejkeej Cental/State Government(s) 1 338580000 338580000 64.47 64

keejheesjs efvekeeeBodies Corporate

efJelleere mebmLeeSb/yeQke Financial Institutions/Banks

keesF& Deve (efveefo&


75/200

kee meKee

Numberof Share-

holders

meKee

Total No. ofshares

ce Meeje

keer mebKeeNumber of

shares held

in demated

form

hej kegue MeejOeeejlee kee eele

Total shareholding asa percentage of tota

number of shares

kes eefleMele kes he ceWAs a percentage of

ii) hees 1 ueeKe mes DeefOekemeeceeve Mesej hetbpeer Oeejke

ii) Holding nominal share

capital in excess of

Rs. 1 lakh.

34 1038152 1002852 0.20 0

keesF& Deve (efveefo&


76/200

(I) (c) Statement showing Shareholding of persons belonging to the category

"Public" and holding more than 1% of the total number of shares

Mesej kees[ : 532149SCRIP CODE : 532149

efleceQua

e.meb.

Sr.

No.

MesejOeejke kee veece

Name of the shareholder

MesejeW keer mebKee

Number of

shares

kegue MesejeW keer mebKee hejeefleMele Mesej

(DeLee&le Ghee&gkele hewje (1) (ke) kesefJeJejCe kes Devegmeej (ke+Ke)+(ie)

kee kegue pees[Shares as a percentageof total number of shares

(i.e. Grand total of

(A)+(b)+( C) indicated in

statement at para

(I)(a) above)

1 Yeejleere peerJeve yeercee efveieceLIFE INSURANCE CORPORATION

OF INDIA

44963039 8.56

2 ueepee[& Smes cewvespeceW SueSuemeer Keelee ueepee[&LAZARD ASSET MANAGEMENT

LLC A/C LAZARD

14237430 2.71

kegueTotal

59200469 11.27SveN.A

(I) (Ie) uee@ke efkeS ieS MesejeW kes yeesjs oMee&vesJeeuee efJeJejCe : Metve(I) (d) Statement showing details of locked-in shares : Nil

(II) (ke) ef[hee@efpejer jmeeroeW ( [erDeej) kes yeesjs oMee&ves Jeeuee efJeJejCe : Metve

(II) (a) Statement showing details of Depository Receipts (DRs) : Nil

(III) (ke) yeQke Dee@@]He Fbef[ee MesejOeejkeeW kee Jeesefbie he@ve& oMee&vesJeeuee efJeJejCe eefo peejer kelee& eje Ske mes DeefOeke eJeie& ceW Meselees (eefleYetefle kes eleske eJeie& kes Jeesefbie nke kee efJeJejCe oW eJeie& Skeme, eJeie&JeeF&, eJeie&pes[) : ueeietveneR

(III) (a) Statement showing the voting pattern of shareholders, if more than one class of shares/sec

issuer : Not Applicable

eLee efoveebke 31 ceee&, 2010 kees MesejOeeefjlee kee mebefJelejCeDistribution of Shareholdings as on 31st March, 2010

Oeeefjle FefkeJeer MesejeW keer mebKeeNo of Equity Shares held

Heesefueees Folio Mesej

b N f % b N



77/200

DeJeefOe Period

DeefOekelece hees

Highest Rs.

vetvelece

Lowest

Deewue, 2009 April, 2009 278.95 214

ceF&, 2009 May, 2009 349.50 226

petve, 2009 June, 2009 366.40 305

pegueeF&, 2009 July, 2009 364.40 296

Deiemle, 2009 August, 2009 342.00 301

efmelebyej, 2009 September, 2009 417.00 315

Deketyej, 2009 October, 2009 474.00 331

veJebyej, 2009 November, 2009 398.45 316

efomebyej, 2009 December, 2009 402.80 352

peveJejer, 2010 January, 2010 401.70 346

HejJejer, 2010 February, 2010 368.65 315

ceee&, 2010 March, 2010 353.40 309

eLee 31.03.2010 kees uesKee yeboer cetue Closing Price as on 31.03.2010

yeepeej hetbpeerkejCe Market Capitalisation

yeQke Dee@@]He Fbef[ee kee Mesej cetu

Bank Of India Share Price

efoveebke(from 1.4.2009mes to

Jeehekelee DeeOeej Jeeues mebkeslekeeW keer leguevee ceW keee&efve


78/200

kes Deveg heeueve mes mebyebefOele yeQ ke kes meebef JeefOeke ues Kee hejer#ekeeW kes eje peejereceeCehe$e mebueive efkeee ieee nw~

meteer ye mecePeew lee kes Keb[ 49 kes Devegueiveke -1 [er ceW efveOee&efjle efvecveefueefKeleiewj-DeefveJeee& DeeJeMekeleeDeesb kees yeQke ves Deheveeee nw :

i) yeQke kes efveosMeke ceb[ue kes mJeble$e efveosMekeeW kes keee&keeue keer DeJeefOe 9 Je


79/200

eOeeve keeee&uee :mej neTme, meer-5, peer yuee@ke, yeebe-keguee& kee@chueskeme, yeebe (hetJe&), cegbyeF& - 40Head Office : Star House, C-5, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mum

Iees


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To The Members of

Bank of India,

Star House, C- 5, G Block,

Bandra-Kurla Complex,

Bandra (E), Mumbai - 400 051.

We have examined the compliance of

Governance by Bank of India for the

2010 as stipulated in clause 49 of the

said Bank with stock exchanges.

The compliance of conditions of corp

responsibility of the Management. Our

to procedures and implementation t

Bank for ensuring the compliance of th

governance. It is neither an audit nor a

on the financial statements of the Ban

In our opinion and to the best of our in

to the explanations given to us, we c

complied with the conditions of co

stipulated in the above mentioned List

As required by the Guidance Note is

Chartered Accountants of India, we

investor grievance is pending for a periagainst the Bank as per the reco

Shareholders and Investors Grievanc

We further state that such compliance

as to the future viability of the Ban

effectiveness with which the Managem

affairs of the Bank.

ForP.C. Modi & Co. ForA.K.G. & Associates

Chartered Accountants Chartered Accountants

Firm Regn. No. 000239 C Firm Regn. No.002688N

(Bharat Sonkhia) (Harvinder Singh)

Partner Partner

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cegyeF&- 400 051.

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legueve-he$eueeYe SJeb neefve Keeleevekeoer eJeen efJeJejCeer

Deewj

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Balance SheetProfit and Loss Account

Cash Flow Statement

andAuditors' Report



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ScheduleNo

31-03-2.(

I. hetbpeer Deewj oseleeSb CAPITAL AND LIABILITIES

hetbpeer Capital 1 5,259Deejef#eefleeeB Deewj DeefOeMes


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ScheduleNo

31 03 2

kees meceehle Je

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