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Notes to financial statements
for the year ended March 31, 2020
26.7 disclosure of Letters of Comfort (LoC) issued by the Bank:
the Bank has not issued any letter of Comfort during the current and previous year.
26.8 Investor education and protection fund
there is no amount required to be transferred to Investor education and protection Fund by the bank during the current and previous year.
26.9 Other expenditure:
other expenditure includes local Conveyance and nFS expenses amounting to `3,04,859 (000's) and `3,09,690 (000') for the financial year ended March 31, 2020 exceeding 1% of the total income of the Bank. In previous year, other expenditure include local Conveyance amounting to `2,51,310 (000's) exceeding 1% of the total income of the Bank.
26.10 the Bank has a process whereby periodically all long term contract are assessed for material foreseeable losses. At the year end, the Bank has reviewed and ensured that no provision is required under any law / accounting standards on such long term contracts as on March 31, 2020 and March 31, 2019.
27 defeRRed TAX
26.11credit default Swaps
the Bank has not entered into any credit default swap transactions during the current and previous year."
26.12 credit card and debit card reward points
the Bank does not have credit card products hence reward points are not applicable and the bank is not providing any reward points on debit cards during the current and previous year.
26.13 Off balance sheet sPVs sponsored
there are no off-Balance sheet SpVs sponsored by the bank as at March 31, 2020 and as at March 31,2019.
26.14 details of factoring exposure
the factoring exposure of the Bank as at March 31, 2020 and as at March 31,2019 is nil.
26.15 country wise risk exposure
Bank does not have any country wise Risk exposure as at March 31, 2020 and as at March 31, 2019.
26.16 unhedged foreign currency exposure
Bank does not have any unhedged foreign country exposure as at March 31, 2020 and as at March 31,2019.
In accordance with Accounting Standard -22 “Accounting for taxes on Income”, the company has recognized deferred tax (asset)/liability as detailed below:
As at March 31, 2020
Difference between book and tax depreciation provision for employee benefits
provision for doubtful assets/standard assets others
Net deferred Tax (Asset) / Liability
(` in 000's)
Particulars
deferred Tax (Asset) / Liability as at 01/04/2019
current year (credit) / charge
deferred Tax (Asset) / Liability as at 31/03/2020
161,493
(60,168)
101,325
(52,507)
(54,013)
(106,520)
(402,992)
164,605
(238,387)
(125,753)
(419,759)
(31,136)
19,289
(156,889)
(400,471)
270 | AnnuAl RepoRt 2019-20