Page 40 - Banking Finance November 2019

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consideration for other basic lending risks such as liquidity FVTPL
risk as well as a profit margin.
Fair value through profit or loss is the classification of
instruments that are held for trading or for which the entity's
FVOCI business model is to manage the financial asset on a fair
Fair value through other comprehensive income is the value basis i.e. to realize the asset through sales as
classification for instruments for which an entity has a dual opposed to holding the asset to collect contractual cash
business model, i.e. the business model is achieved by both flows. This category represents the 'default' or 'residual'
holding the financial asset to collect the contractual cash category if the requirements to be classified as amortized
flows and through the sale of the financial assets. cost or FVOCI are not met. All derivatives would be classified
as at FVTPL.
The changes in fair value of FVOCI debt instruments are
recognized in other comprehensive income (OCI). Any interest Hence indeed IND AS is a new chapter in Corporate
income, foreign exchange gains/losses and impairments are Accounting and paving a new way at which we look at
recognized immediately in profit or loss. Fair value changes balance sheets of our borrowers We look forward to this
that have been recognized in OCI are recycled to profit or accounting standard to raise the transparency and disclosure
loss upon disposal of the debt instrument. levels of our country and meet its objective in right spirit.

United Bank of India Observes Vigilance Awareness

Week 2019

In terms of directive of Central Vigilance Commission, Vigilance Awareness Week 2019 observed by United Bank of
India from 28th October 2019 to 2nd November
2019.

Theme given by Central Vigilance Commission for
Vigilance Awareness Week 2019 is "Integrity - A
way of life".
The observance of Vigilance Awareness Week 2019
began with pledge taking ceremony at Head Office.
The integrity pledge was administered by Shri
Ashok Kumar Pradhan, Managing Director & Chief
Executive Officer at 11.00 am on 28.10.2019 in this
photograph. Bank`s Chief Vigilance Officer,
Executive Director and other Executives of Head
Office are seen taking the integrity pledge. All our
employees posted at Head office participated in
this pledge taking ceremony. A documentary short film on "Integrity - a way of life" was also shown in the event.
Elaborate arrangements have been made by the bank to celebrate the week with total participation of all Regional
Offices and Branches across the Country. Among various programmes, as part of outreach activities sensitizing the
common mass against the menace of corruption, a "Walkathon" would be organised on 1st November 2019 with
participation of employees from Head Office.

Many other outreach activities will be conducted during the week. These include organizing two gram sabha meetings
by all our rural and semi-urban branches and Integrity clubs would be formed in schools and colleges. Four Regional
Rural Banks will also participate on this activities. Debates, Seminars, workshops, quiz competitions are also conducted
in schools and colleges across the country.

40 | 2019 | NOVEMBER | BANKING FINANCE