MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS ENVIRONMENT Global Economic Scenario In Calendar Year (CY) 2015, the global economy continued to grow at moderate pace with different agencies estimating growth rate ranging from 2.4% to 3.1%. The global economic growth was weighed down by several factors, viz. persistent macro-economic uncertainties and volatility; low commodity prices and declining trade flows; rising volatility in exchange rates and capital flows; stagnant investment and diminishing productivity growth. Against this backdrop, India cemented its position as one of the bright spots in the global economy, overtaking China as the fastest growing major economy in the world. India's Gross Domestic Product (GDP) at market prices grew at 7.6% in 2015-16 as compared to growth of 7.2% in 2014-15. The macro-economic environment in India has improved over the past two years. Consumer and investor confidence have improved on the back of wide-ranging policy reforms that are being implemented by the Government of India. The outlook for India remains favorable on the back of various structural reforms being undertaken in the economy as also improving macroeconomic fundamentals. The favorable outlook for inflation, softer interest rate environment and continued reform agenda of the Government of India are expected to help in further improving the business and consumer sentiments. These developments are expected o fuel the growth momentum in the Indian economy going onward and ensure the growth is sustained at an elevated rajectory. BUSINESS REVIEW During the year, your Bank focused on continued expansion of its retail and priority sector lending portfolios in view of the need to rebalance its portfolio mix to minimise and mitigate concentration risk as well as meet regulatory requirements. Simultaneously, your Bank leveraged its strengths, capabilities and rich experience gained from its legacy as an apex Development Finance Institution (DFI). Furthermore, emphasis was placed on strengthening your Bank's position as one-stop financial conglomerate by augmenting the synergy between all its departments/ verticals as well as synergy between itself and its subsidiaries. The strategic initiatives adopted by your Bank have been aptly supported by expanding branch and ATM network across the country. As on March 31, 2016, your Bank's network stood at 1,846 branches, comprising of 378 branches at metro locations, 460 branches at urban centres, 586 branches at semi-urban centres and 421 branches at rural centres, (including 244 Financial Inclusion branches) across India and 1 overseas branch at Dubai International Financial Centre (DIFC), Dubai and 3,310 ATMs. Retail Banking Retail Liability Your Bank offers liability products across various segments such as High Net Worth Individuals (HNIs), kids, women, youth, senior citizens, salaried individuals, business persons etc. Keeping in view continuously evolving as well as emerging customer needs, your Bank continued to introduce new products and review the features and processes of existing retail liability products to meet those needs. Simultaneously, your Bank tapped new avenues to increase the share of low-cost deposits and generate fee-based income. NRI Services Your Bank highly values its relationship with its NRI customers and caters to their needs by offering a full spectrum of financial products and services ranging from basic Non Resident External (NRE) Account, Non Resident Ordinary (NRO) Account and Foreign Currency Non Resident (FCNR) deposits to value-added services such as forward cover on FCNR deposits, Portfolio Investment Scheme (PIS) for investments in Indian secondary stock markets, overdraft facilities against the security of NRI deposits, home loans, loans against property and more. Your Bank also offers various options to NRI customers for hassle-free fund remittances to India to enable a fast, economical and convenient fund transfer. Structured Retail Assets (SRA) Business During the year, your Bank continued to be one of the most competitive players in the Structured Retail Assets segment with its innovative and best-in-class product and service Business Correspondents (BCs)/ Business Facilitators (BFs) Your Bank has leveraged its network of Business Correspondents (BCs)/ Business Facilitators (BFs) in an effort to increase penetration particularly in rural and semi-urban areas and thereby, ensuring greater financial inclusion as also provide an added impetus to its Priority Sector Lending (PSL) business. To provide facility of payments through BCs (also referred to as Bank Mitras), hand-held devices have been provided to them which are enabled with the facilities to accept RuPay cards and carry out Aadhaar-based transactions. As on March 31, 2016, your Bank had a network of more than 1,300 individual BCs/ BFs who have collectively done business amounting to more than Rs. 1,100 crore. Furthermore, to enhance the skill sets of BCs/ BFs and thereby, brpare them to become confident, self-sufficient and viable, your Bank conducted extensive training sessions/ workshops for more than 1,300 BCs/ BFs at various locations across the country. Besides, your Bank has also provided on-the-job training to BCs/ BFs to develop their technical skill to operate on technology platforms for conducting banking transactions. Financial Literacy Financial literacy has been identified as a br-requisite for effective financial inclusion and an integral part of the PMJDY in order to let the beneficiaries make best use of the financial services being made available to them. Your Bank has set up desks known as 'Vittiya Sakhsharta Jankari Kendras' in its rural branches which have been entrusted with the responsibility of sbrading awareness on various banking products and Government social security schemes through conduct of outdoor literacy camps. During the year, your Bank's rural branches conducted more than 900 such outdoor literacy camps. Recognizing the need to educate children about the importance of prudent financial management, your Bank also conducted financial literacy camps for higher secondary students in more than 100 schools across Maharashtra, Gujarat and Madhya Pradesh. Your Bank's Rural Self Employment Training Institute (IDBI-RSETI) located in Satara District in Maharashtra also conducts free residential training programmers in job-Oriented courses for the rural youth to empower them to be self-employed. The Institute has been awarded A' grade by Ministry of Rural Development. During the year, IDBI-RSETI conducted 28 training programmes and trained 793 candidates. Other Initiatives Your Bank is registered with Unique Identification Authority of India (UIDAI) as Registrar for Aadhaar enrolments. Your Bank has so far enrolled more than 43 lakh residents across 14 States. Your Bank has actively participated in Direct BenefitTransfer (DBT) scheme of the Central/ State Governments. Further, your Bank has continued with the distribution of social security pension through the BC channel to more than 24,000 oid-age pensioners in Raipur and Chhattisgarh and distribution of MNREGA wages in 3 districts in Chhattisgarh, covering more than 190 Gram Panchayats. As on March 31, 2016, nearly 23,000 beneficiary accounts have been opened by your Bank. Awards for Financial Inclusion Your Bank was conferred with awards and accolades from various quarters for its financial inclusion initiatives. These include Elets Knowledge Exchange Award, the Lokmat BFSI (Banking, Financial Services and Insurance) Awards, the Elets Financial Inclusion and Payment Systems (FIPS) Award, the ASSOCHAM Award for Financial Inclusion 2016 and Banking Frontier's FINNOVITTI AWARD 2016 for Innovative Technology. Priority Sector Banking Your Bank has been contributing significantly to Priority Sector Lending (PSL) and has achieved the regulatory targets under PSL as on March 31, 2016 set by the Reserve Bank of India. With the recent changes in regulatory guidelines for PSL, your Bank focussed on financing Small and Marginal Farmers (SFMF) and Micro Enterprises, during the financial year. To boost lending to agriculture sector, your Bank entered into strategic tie-up with Original Equipment Manufacturers (OEMs) of agro-machinery/ equipment, solar system integrators, NGOs for funding SFMF. Similarly, your Bank has signed MoUs with various auto manufacturing companies and operators for financing vehicle purchase as a part of lending to Micro Enterprises. Your Bank also launched 2 major products under PSL viz. IDBI MUDRA Loan and IDBI Bunkar MUDRA Yojana (IBMY) in terms of the Government of India scheme to extend financial assistance under Pradhan Mantri Mudra Yojana (PMMY). Your Bank disbursed more than Rs. 1,600 crore under PMMY scheme surpassing the target of Rs. 1,300 crore set by the Government of India. Your Bank added more than 6 lakh new ; borrowal accounts belonging to weaker sections, SCs/ STs and women categories. Major initiatives and campaigns under PSL • In order to extend its reach, your Bank has appointed corporates as BCs/ BFs to supplement its network to garner PSL business mainly towards SFMF, Micro Enterprises and Weaker Sections. • Your Bank, in an arrangement with one of its BCs,: funded e-Rickshaws and cycle rickshaws in Varanasi' and Lucknow. Functions for distribution of sanction letters and rickshaws under this arrangement were held on September 18, 2015 and January 22, 2016 in Varanasi and Lucknow, respectively, which were graced by the brsence of Hon'ble Prime Minister Shri Narendra Modi. Your Bank also participated in the launch function of Stand Up India scheme by Hon'ble Prime Minister Shri Narendra Modi at Noida on April 5, 2016. The scheme was launched across all centres of your Bank by MD & CEO on April 14, 2016 to commemorate the 125th Birth Anniversary of Dr. B. R, Ambedkar. • Your Bank encourages and assists innovative hi-tech agricultural practices through financing hydroponic projects. Under this, plants are grown without soil, using mineral nutrients in water solution. " • As a unique measure for last mile connect, your Bank celebrated Farmers' Day on December 23, 2015 by organising 'Kisan Sangosthis' across India. More than 180 Kisan Sangosthis were conducted across all the states and about 15,000 farmers from various villages participated on a single day. These initiatives have helped your Bank to build a qualitative and sustainable PSL portfolio which will enable it to meet the aspirations of all its stakeholders. Corporate Banking The corporate customers of your Bank are serviced through three different verticals, viz. Corporate Banking Group-I (CBG-I), Corporate Banking Group-ll (CBG-II) and Infrastructure Corporate Group (ICG). CBG-I (for large-sized accounts) and CBG-II (for medium-sized accounts) cater to the requirements of the corporate customers in sectors other than infrastructure with funding requirements of more than Rs. 5 crore through 32 branches pan-India. ICG serves corporate customers in infrastructure sectors such as power, telecom, ports, roads and bridges, airports, urban infrastructure development etc. through its branches strategically located at 7 centres across India. CBG portfolio of your Bank includes exposure to sectors as varied as textiles, cement, steel, engineering, construction, paper and paper products, electronics and electrical equipment, sugar, chemicals, automobiles, NBFC, among others. Your Bank is also the Nodal Agency for Textile Industry (non-MSME sector) under Technology Upgradation Fund Scheme (TUFS) of the Government of India. Besides processing cases pertaining to its clients on pan-India basis as a Nodal Bank under the scheme, your Bank has also co-opted with 61 Prime Lending Institutions, including Scheduled Commercial Banks, State Financial Corporations, Co-operative Banks etc., as a Nodal Agency. Your Bank has also extended loans to sugar mills and processes subsidy under the 'Scheme for Extending Financial Assistance to Sugar Undertakings 2014 (SEFASU) and Soft Loan 2015' Your Bank, under its corporate banking portfolio, offers various asset-side products such as term loans, working capital (both fund based and non-fund based), packing credit to exporters, receivables buyout, bill discounting, lending to NBFCs, among others. CBG and ICG also place emphasis on PSL by offering products like channel financing and vendor financing for dealers/ vendors of corporate etc. The corporate banking team works closely with other specialised business teams working in the domains of retail banking, loan syndication, transaction banking, treasury etc. to develop suitable products and devise solutions that fulfil specific needs of the corporate clients. The portfolio in the infrastructure sector includes power projects with aggregate generation capacity of over 65,000 MW, telecom service providers catering to over 57 crore subscribers, more than 30 highway projects across the country, power distribution companies serving a base of more than 1 crore consumers (including Mumbai and Delhi), Metro Railway project in Mumbai, ports on the western coast, 2 large private sector operated airports of the country, besides a host of projects in urban infrastructure, logistics, etc. Your Bank has been proactively providing project appraisal, debt syndication, structuring and advisory services across various sectors viz., infrastructure, manufacturing, renewable energy etc. and has been consistently ranked as one of the leading debt syndicators in India. During the year, your Bank bagged more than 30 mandates for appraisal and syndication of debt aggregating over Rs. 20,000 crore, out of which 17 proposals were sanctioned. Your Bank has successfully developed innovative structured products like back-stop facility for Commercial Paper (CP) and financing Solar Pump Scheme of the Government of Maharashtra (GoM). During the year, your Bank successfully completed a few Inter-Bank Participation Certificate (IBPC) transactions with various banks/ Financial Institutions (FIs), both in public as well as private sectors. Your Bank has played a pioneering role in the Indian banking sector in the area of environmental banking by taking initiatives for funding of green projects based on clean technologies. Your Bank is the first public sector commercial batik to raise US$ 350 million through green bonds in November 2015 for financing green projects which include wind energy, solar energy, biomass, water recycling systems etc. A newsletter, viz. IDBI Carbon Newsletter, which is published by your Bank to cover latest developments in the domain of green banking, has won Gold Award from the Association of Business Communicators of India (ABCI) at the 55th ABCI Award held in March 2016. The macroeconomic environment as also sector-specific issues resulted in fewer new projects being awarded during the year. Further, there was stress on the earnings of the existing companies. Build-up of receivables in construction industry, fuel-related issues in power companies, liquidity constraints in the electricity distribution companies leading to lower power off-take, lower traffic growth, issues in collection of toll etc. worsened the condition of infrastructure projects. To mitigate risks emanating from its corporate portfolio, your Bank continued to strategically granularise its portfolio mix to avoid concentration risk and tapping more non-fund based business/ fee-based income from its corporate clientele. Besides increasing the business, focus continued to remain on the accounts which were facing difficulties due to stress in the economy and various corrective measures like SDR, refinancing through 5/25 scheme etc. were undertaken to enable the corporate to come out of stress. Asset Quality Your Bank adopted a robust mechanism for credit risk assessment and has a well laid out policy for monitoring of its assets portfolio. The accounts exhibiting stress are subjected to close monitoring and remedial measures which include corrective action plan. Your Bank also continues to adopt an intensive process for recover/ from the no/.-parfornwu, as also prudentially written-off assets. As on March 31, 2016, 89.02% of your Bank's loan assets were standard, 4.34% sub-standard, 6.35% doubtful while loss assets were 0.29%. Adequate provisions were made in conformity with the regulatory brscriptions. The larger increase in NPAs include the assets which are classified as non-performing based on the Asset Quality Review (AQR) by the Reserve Bank of India. Your Bank has classified all the assets identified under AQR by the Reserve Bank of India as non-performing and has made provisions as per the AQR for all the identified cases. Your Bank is actively pursuing early realization from the NPAs as also prudentially written-off assets through legal process, SARFAESI action, one-time settlement/ negotiated settlements as also various rigorous recovery measures. Your Bank takes simultaneous time-bound recovery actions including SARFAESI and Debt Recovery Tribunal (DRT) actions against the defaulting borrowers. The recovery process is structured and monitored at various levels. Concerted and focused efforts have also been made to attach the properties of guarantors through DRT. Your Bank has also taken rigorous recovery measures for resolution wherever warranted viz. publishing the names/ photographs of the defaulting borrowers in newspapers, declaring them as wilful defaulters, filing insolvency/ winding up petition, filing application for civil arrest etc. Your Bank has also sold few stressed assets to Asset Reconstruction Companies (ARCs). Your Bank launched special recovery drive for settlement of loans amounting up to Rs. 10 crore in agriculture sector, medium and small industries and prudentially written-off accounts. Trade Finance Your Bank continued to show imbrssive growth in Trade Finance business conducted through nearly 60 Category B Authorised Dealer Trade Finance (TF) centers and more than 65 retail branches. Your Bank launched an innovative online facility, viz. 'IDBI eTrade', which enables customers to apply for trade finance products and services in a hassle-free manner from the comforts of their desks/ offices/ homes. Your Bank has set up a dedicated Iranian Trade Cell on being designated by the Reserve Bank of India as the sole bank for non-oil INR trade settlement between India and Iran. With a view to boost export credit business, your Bank organised Exporters' Meets at major centres in association with Federation of Indian Exporters Organization (FIEO) and local Chambers of Commerce. During the year, your Bank established Relationship Management Applications (RMAs) with 40 major foreign banks, taking the total RMAs to more than 1,340. With this enhanced network, your Bank facilitates bi-directional trade transactions with major geographical locations across the globe. The Bank of New York Mellon and Citibank have conferred Straight Through Processing Awards to your Bank in recognition of its operational efficiency. Government Business Your Bank acts as an agent for the Central Government as well as the.State Governments to manage their receipts and payments. Besides being authorised to collect Central Government taxes including Income Tax, TDS, Corporation Tax, Excise Duty, Service Tax and Custom Duty payments, your Bank also has the mandate for collecting electronic payment of railway freight charges, Commercial Tax and other Government receipts for 19 State Governments and 3 Union Territories. During the year, your Bank collected over Rs. 2.55 lakh crore through various taxes and duty payments collected on behalf of the Central and the State Governments. Leveraging its best-in-class technology platform, your Bank provides, inter alia, 24x7 internet banking facilities for tax payments. Your Bank is accredited by the Government of India for acceptance and conduct of Public Provident Fund (PPF), Senior Citizen Savings Scheme and Sukanya Samridhi accounts from the public through its authorised branches on a pan-India basis. Your Bank has also extended Aadhaar- based authentication of Life Certificate for Civil, Central, Railway and Defense Pensioners under 'Jeevan Pramaan Yojna' launched by the Government of India to enable pensioners to log in and submit their Digital Life Certificate. CASH MANAGEMENT SERVICES Cash Management Services (CMS) offered by your Bank involves keeping track of corporate clients' fund movement, payments and receivables systems and managing overall liquidity positions of the corporate clients by using specialized software (both for collection and payments) that controls credit day arrangements, pricing, Management Information System (MIS), processing for correspondent bank cheques, client lines and many such parameters. Your Bank offers a suite of collection and payment products such as debt servicing products, virtual account system, direct debit facility, vendor management system, automated clearing house credit and debit service etc. All these products ride on cutting-edge technological integration with client systems in tune with evolving market trends. Your Bank is also authorised to offer e-freight payment system of Indian Railways to its customers in ten railway zones and also for collection of station earnings and payment in some of the railway zones. Your Bank continued to bag brstigious dividend distribution mandates of large Public Sector Units (PSUs) and other corporates during the year and has continued to maintain a significant market brsence in this segment. TREASURY OPERATIONS An integrated Treasury at your Bank's Head Office covers various segments like Money Market, Fixed Income, Foreign Exchange, Derivatives and Equities trading for efficient fund management and treasury operations. The Treasury facilitates customer transactions in market products, resource raising, trading and market making in various market segments while managing the regulatory compliance on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). The Treasury is equipped with state-of-the-art technology to deliver quality solutions to your Bank's customers and for conducting its business operations efficiently. In addition to mobilizing deposits, your Bank has used various instruments including Certificates of Deposits, Inter-Bank borrowings, issuance of bonds, refinance from various sources and foreign currency borrowings to manage liquidity tor balance sheet growth and maturity of liabilities. Liquidity was managed at appropriate level depending upon fund position and market situation through various short-term/" money market instruments. Your Bank also regularly tracks various markets and adopts acceptable level of positions for trading gains. In accordance with the Reserve Bank of India guidelines, your Bank, during the year, has implemented the Basel III Framework on Liquidity Standards covering Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards for improved liquidity risk management. Your Bank's Treasury is supported by a sales team brsent across 11 centres for effective marketing of foreign exchange and derivative products. The team interacts constantly with your Bank's corporate clients and proactively provides them solutions to effectively manage their exposures in currencies and rates. During the year, your Bank provided various types of standard and customised solutions at competitive rates to the customers for their foreign exchange and interest rate hedging requirements through a mix of FX, options and swaps, as permitted by the Reserve Bank of India. As part of operational risk management, your Bank, during the year, opened a state-of-the-art Treasury Business Continuity Centre at BKC, Mumbai. The BCP site serves as a near-site alternative to the Bank's main Treasury dealing centre in the event of any business disruption. The Centre is fully equipped with state-of-the-art technology and connectivity with integrated operations covering various market segments and can handle the front office, back office and mid-office functions of Treasury to ensure uninterrupted treasury services at all times. In addition, your Bank has set up debt sales team at various centres for retailing of fixed income products in general' and Government Securities in particular. The team caters especially to the needs of the investors for undertaking transactions outside the screen-based NDS-OM market. Your Bank's Treasury continues to be at the forefront of introducing innovative financial solutions, which indirectly contribute towards market development. Your Bank's IDBI Samriddhi GSEC portal has been revamped to provide daily mark-to-market (MTM) position to the investors on their purchased stocks. Your Bank continues to be at the forefront of entering into Global Master Repurchase Agreements (GMRA) with various market participants facilitating development of repo in corporate bonds. During the year, domestic market conditions displayed resilience to external factors and exhibited mild volatility and more stickiness as strong domestic fundamentals aided sentiments to withstand the external shocks. With India emerging as a brferred destination for investment and accommodative monetary policy stance of the Reserve Bank of India, the markets traded sideways for majority of the year. Depending on this sentiment and trend, your Bank managed by March 31, 2019. In line with the transitional arrangements included in the regulatory guidelines, the CCB applicable for March 31, 2016 is 0.625% (25% of 2.5%). Accordingly, the minimum regulatory requirement of total capital plus CCB is 9.625% (CRAR plus CCB). Your Bank has a CRAR ratio of 11.67% which is above the minimum regulatory requirement. Similarly, your Bank has a CET 1 ratio of 7.99% which is above the minimum applicable ratio of 6.125% (CET 1 + CCB) as stipulated by the Reserve Bank of India. The Tier-I ratio stands at 8.90% as on March 31, 2016 against the regulatory requirement of 7.625% (including CCB). Your Bank has a Board approved policy on Internal Capital Adequacy Assessment Process (ICAAP) in line with the Pillar-ll norms of the Basel III framework.This policy enables your Bank to internally assess and quantify those risks which are not covered under Pillar-I as well as to develop appropriate strategies to manage risks under normal and stress conditions. Your Bank has also put in place a combrhensive stress testing framework which is in line with the Reserve Bank of India guidelines. The stress testing framework enables your Bank to assess the strength under exceptional but plausible events and facilitates appropriate proactive strategies to be put in place to meet unforeseen contingencies. Your Bank has adopted a Disclosure Policy in accordance with the Pillar-Ill requirements under the Basel norms, and accordingly disclosures as at end of each quarter are made available on its website, thereby exhibiting high degree of transparency. At brsent, your Bank follows the Standardized Approach under Credit Risk for computation of capital and is in the process of further upgrading and strengthening its Credit Risk Management System for migration to the advanced approaches viz. Internal Rating Based (IRB). Your Bank follows Basic Indicator Approach (BIA) to compute regulatory capital charge for Operational Risk. As a part of migration process to Advance Measurement Approach (AMA), a combrhensive set of Key Risk Indicators (KRIs) and Risk and Control Self-Assessment (RCSA) framework has been rolled out across different business segments for effective control mechanism. For Market Risk, your Bank uses Standardised Measurement Method (SMM) to compute regulatory capital and necessary steps to migrate to advanced methodology viz. Internal Models Approach (IMA) would be undertaken in due course. Credit Risk Your Bank has deployed a combrhensive Credit Risk Management System, which includes a Risk Assessment Model (RAM) for credit rating of proposals and Capital Assessment Model (CAM) for automation of capital computation. A proactive Credit Policy is followed to ensure efficient credit evaluation, credit delivery, portfolio management and monitoring. The Policy is brpared to assimilate your Bank's business objectives by taking brvailing business and socioeconomic environment into consideration. The Rating Committees at the apex level validate credit ratings and provide guidance to risk analysts and relationship managers. As a proactive measure, your Bank regularly monitors various exposure limits to different business groups, countries, segments, sectors and industries. Market Risk Market Risk management in your Bank, in terms of functions and business positions, operate in line with policy framework defined in the Market Risk & Derivative Policy and Investment Policy. These policies, in general, outline the appropriate levels of risk appetite and implement mechanism for measurement, reporting and escalation of risks and exceptions. In order to manage market risks, your Bank has put in place appropriate risk management systems, including monitoring and reporting tools. Various exposure limits are also putin place to mitigate concentration risk. All the brscribed limits along with all the procedures are monitored closely by Treasury mid-office which is independent of Front and Back offices of Treasury. Operational Risk Your Bank has a robust Operational Risk Management framework which includes an organizational setup comprising the Board of Directors, the Risk Management Committee(RMC) of the Board, the Operational Risk Management Committee and nodal officers of various functions/departments. The operating procedure for operational risk are guided by Operational Risk and Business Continuity Management Policy which aims to identify, monitor, measure and manage operational risks attached to banking activities. Your Bank has taken proactive measures to contain/ mitigate operational risk which include: • Monitoring of Key Risk Indicators; • Assessment and mitigation of risk associated with new (revised) products/ systems; • Self-assessment of various risks and controls; • Operational loss events monitoring; • Assessment of systemic risk; • Improvement in various processes. As a part of monitoring of operational risk, your Bank has put in place a combrhensive IT system for management and measurement of operational risk. The progress on Operational Risk management and measurement is reported to Operational Risk Management Committee and Risk Management Committee of the Board on a periodic basis. Your Bank conducts various training programmers to instil a risk awareness culture across the organization. business continuity management Your Bank has a robust Business Continuity Management (BCM) processes to mitigate business disruptions. As a part of BCM, well-defined Business Continuity Plan (BCP) is in place for core and support functions. This is intended to provide continuity in services to customers, despite business disruption. Besides, combrhensive Disaster Management Plan (DMP) is deployed for its major establishments to safeguard human lives and minimise damage to valuable assets during disaster. The resilience of these BCPs and DMPs is tested periodically through BCP testing exercises, disaster recovery and mock evacuation drills. Your Bank's Business Continuity Management System is well equipped with an automated tool, viz. Integrated Disaster and Business Continuity Management System (i-DaB). INFORMATION TECHNOLOGY RISK Your Bank has taken a series of steps to improve IT risk management and control. Your Bank has set up a state-of-the-art Security Operation Centre (SOC) at its Data Centre located at Belapur, Maharashtra. Through the SOC, your Bank centrally monitors security devices/ solutions like firewalls, routers, IDS/ IPS, PIM, DLR antivirus, phishing/ malware attempts and takes corrective actions in shortest span of time. The SOC acts as a Command Centre for countering cyber threats and ensure compliance with your Bank's Information Security Policy, besides fulfilling its objective of providing safe and secure banking to its esteemed customers. Your Bank regularly conducts Vulnerability Assessment and Penetration Testing (VAPT) of external facing applications, viz. iNet Banking, mail messaging, etc. Your Bank has made significant progress in implementing the recommendations of the Reserve Bank of India Working Group on information security, electronic banking, technology risk management and cyber frauds which was issued in April 2011.Your Bank has put in place an appropriate organizational framework as recommended in the guidelines. Several information security solutions have been implemented like Privileged Identity Access Management, Patch Management solution, Active Directory, Web/ Mail Gateways, etc. to protect customer data, brvent external attacks as well as strengthen internal controls. Apart from conducting regular information security awareness programs for the employees, various information security brcautions are also communicated to customers through mailers, SMS, ATMs and posters, to minimise/thwart the attempts of security breach. IT infrastructure and systems have been implemented within a robust information security framework including solutions on both perimeter and endpoints. Customer-facing interface has two-factor authentication process in place. On the Information Security aspect, your Bank has rolled out Data Leakage Prevention (DLP) solution to protect the sensitive data pertaining to it and customers from being misused. Your Bank's Data Centre as well as Disaster Recovery Centre is certified with ISO 27001:2013 information security standards. Your Bank has also setup a Near-DR site to ensure zero data loss for critical transactions. The Information Security Steering Committee of your Bank provides directions for mitigating operational risk in the information systems. MANAGEMENT, CONTROLS AND SYSTEMS HUMAN RESOURCES The Human Resource (HR) strategy in your Bank has been framed to effectively align the business requirements with various HR policies pertaining to recruitment, deployment, training, talent retention and motivational strategies so as to seamlessly support achievement of your Bank's vision and mission. In this direction, your Bank has been making constant efforts to encourage its employees to deliver excellent standards of performance by incentivizing performance and also taking various employee welfare measures to provide a better work-life balance. RECRUITMENT AND STAFFING Your Bank's annual manpower assessment takes in to consideration the number of superannuating/ voluntarily retiring officers, the number of resignations, branch expansion and business growth. Accordingly, your Bank appointed 1,584 officers, 444 Executives and 2 clerks (appointed on compassionate ground) during the year. Out of these, 335 belong to Scheduled Castes (SCs), 294 belong to Scheduled Tribes (STs) and 762 belong to Other Backward Classes (OBCs). Furthermore, 44 individuals are Persons with Disabilities. Your Bank recruited officers in Grade 'A through common recruitment process for all Public Sector Banks (PSBs) conducted by Institute of Banking Personnel Selection (IBPS) and Executives through a separate recruitment process through IBPS route on standalone basis. Further, your Bank has also recruited, through a separate recruitment process, four dedicated and professionally qualified Officers in grade 'B' as Security Officers for taking care of security related matters. IDBI MANIPAL SCHOOL OF BANKING In May 2015, your Bank has extended the Memorandum of Understanding (MoU) with Manipal Global Education Services Pvt. Ltd., Bengaluru, under which students are enrolled for one year Post Graduate Diploma in Banking and Finance (PGDBF) which works on the model of' Train, Recruit and Induct'. During the year, your Bank had recruited 415 candidates as Assistant Managers on successful completion of the course. Currently, more than 400 candidates are onboard pursuing PGDBF in two batches and they would be inducted in your Bank in due course. RESERVATION POLICY Your Bank is fully compliant with the extant reservation policy of the Government of India. Your Bank has appointed Chief Liaison Officers (CLOs) and Zonal Liaison Officers (ZLOs), in the rank of General Managers and Deputy General Managers, for SC/ ST/ PWD and OBC, who ensure compliance of various guidelines pertaining to reserved category employees and for effective redressed of their grievances. Your Bank maintains separate rosters for PWDs, as per the Government of India guidelines. TRAINING AND DEVELOPMENT Your Bank continues to place utmost importance on the development of its employees. Your Bank has conducted 830 in-house programmes for 17,181 participants. Your Bank has also nominated 379 officers for external domestic training programmes and 32 officers for external foreign training programmes. Your Bank continues to impart 180 days induction training program for officers in Grade A, which includes classroom training as well as on-the-job training. Similarly, your Bank continues to impart 17 days of classroom training to the Executives posted to its retail banking vertical. Your Bank has conducted focused programme on women empowerment, viz. 'Unnati; to enable women employees to develop necessary attributes for taking up leadership position in the organization, while ensuring work life balance. Under this programme, 844 women employees were trained during the year. In line with regulatory directives, your Bank has conducted trainings and workshops on customer service in order to develop further a customer centric approach and provide effective and efficient customer service. Workshops were also held on KYC/ AML to update the officers on the latest rules and regulations in this area. Besides this, your Bank continues to nominate senior officers for programmes on general management and strategic leadership conducted by Indian Institute of Managements (IIMs) at various locations while middle management level officers are nominated for other Management Development Programmes. Your Bank continues to give thrust on e-learning. In this direction, your Bank has also launched a robust Learning Management System, viz. OJAS, to facilitate e-learning and provide online certifications, which will include self-nomination, mandatory module completion along with the entire gamut of operational aspects of training. SUCCESSION PLANNING As a strategy towards succession planning for critical/ key positions in your Bank, critical positions in senior management level have been identified to maintain organisational performance and achieve long-term business goals. In this direction officers in junior and middle management level have been identified as potential successors. Through Assessment Development Centres exercise, the fitments of these officers into the succession matrix and development initiatives, viz. workshops, on-the-job projects, etc. to hone critical competencies are in progress. GROUP LIFE INSURANCE SCHEME (GLIS) With a view to mitigate hardship of a deceased employee's family, your Bank has extended a Group Life Term Insurance Policy for all permanent employees covering beyond the age of superannuation till completion of 70 years. Under the scheme, your Bank contributes 50% of the annual brmium amount while the balance 50% of the amount is borne by the employees. Beyond the age of superannuation, retiring employees have the option to continue with the scheme by paying the full brmium amount. IDBI Bank Officers Study Scheme (IBOSS) Asatalent retention measure, your Bank has introduced IBOSS for officers to pursue higher education at reputed institutions, either in India or abroad. This encourages meritorious officers to enhance their professional development. Under the scheme, education loans are granted to selected officers. On completion of the course, the loan is waived subject to compliance of certain terms and conditions. Incentive Scheme Your Bank has put in place Performance Linked Cash Incentives Scheme on the lines of the directives of the Government of India, to motivate its top performing employees. Flood Relief Advance Your Bank has extended interest free flood relief advances to the employees affected by devastating floods in Tamil Nadu. Prevention of Sexual Harassment at Workplace (POSH) With an objective of creating awareness about the POSH among the employees, an interactive audio/ video enabled e-learning module has been hosted on your Bank's intranet. Disclosures under The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressed) Act. 2013 Your Bank has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Your Bank has set up two Internal Complaints Committees to redress the complaints received regarding sexual harassment. During 2015-16, your Bank received 2 (two) complaints which were inquired into by it, out of which 1 (one) complaint has been resolved. As on March 31, 2016, a total of 4 (four) complaints were pending, which included 1 (one) pending complaint pertaining to 2015-16 and 3 (three) complaints (pending due to court interventions) pertaining to brvious years. Industrial Relations The industrial relations climate in your Bank has been largely cordial during the year with most of the issues having resolved amicably. A section of IDBI Bank's officers / workmen under the banners of various unions/ associations had given strike calls on November 27, 2015 and from March 28 -31, 2016, against the Government's statement of having an option of dilution of its shareholding below 50% in the Bank. Despite the conciliation proceedings convened by Regional Labour Commissioner (Central), the unions/ associations proceeded with the strike action on these days. However, no untoward incidents were reported and your Bank managed to keep close to 50% branches/ offices open and all ATMs and other alternate channels were available for uninterrupted customer service on the strike days. Further, in order to minimise the disruption in the Bank's business and inconvenience to its customer due to the four days strike call given by unions/ associations, your Bank had also ensured that all branches and offices remained opened for public for the full day on March 26, 2016 (Saturday), which otherwise was a bank holiday. Internal Audit Your Bank has a well-equipped Internal Audit Department which carries out regular audit of various activities undertaken by different business/ support verticals, zonal offices, regional offices and branches. Audits are conducted under the guidance and supervision of the Audit Committee of Board (ACB). The audit function maintains its independence and objectivity while carrying out the assignments. Your Bank has adopted Risk-Based Internal Audit as its strategy in line with the Reserve Bank of India guidelines and guidelines issued by the Government of India on Internal and Concurrent Audits. Your Bank has an experienced in-house Information System (IS) Audit team in place, as part of internal audit mechanism, to address technology and IT related security issues commensurate with the nature and complexities of the operations. Your Bank has, in line with the regulatory requirements, put in place a combrhensive Concurrent Audit System to supplement its internal audit function. To achieve continuous improvement in the quality of its credit portfolio, a Credit Audit System has been put in place. The system broadly captures compliance with your Bank's policies in the areas of credit appraisal, sanction of loans and credit administration. Internal Audit function is adequately supported by Zonal Audit Offices (ZAOs), an in-house web-based Audit Management System (AMS) and an Off-site Alerts Management System (OMS). Your Bank has also put in place a Risk Based Management Audit (RBMA) to review and report the control environment as a whole, in terms of reliability of the management function, safeguarding of assets and compliance with rules and regulations. Your Bank evaluates, on a continuous basis, the adequacy and effectiveness of internal control mechanism, adherence to policies and procedures and suggests measures to strengthen and streamline control for addressing various risks. Keeping this in mind, your Bank reviews its Risk Based Internal Audit Policy, Concurrent Audit Policy and Information Security Audit Policy on an annual basis. There exists proper co-ordination among Audit Department, Operation Risk Department and other operational wings for enhancing operational efficiency and fine-tuning of the processes. Emphasis is placed on benchmarking the Bank's practices and procedures in an endeavour to migrate to the best practices in the industry. The Audit Committee of the Board, the Audit Committee of Executives and the Zonal Audit Committees review the performance on continuous basis, give directions to the internal audit functionaries and review effectiveness of internal control systems, as also compliance with regulatory guidelines. Fraud Management System Your Bank has put in place a fraud monitoring mechanism through a dedicated Fraud Monitoring Group (FMG) under the Internal Audit Department. A Fraud Review Council (FRC) has been constituted to monitor and review all frauds to identify systemic lacunae, if any, and initiate corrective measures, monitor progress of investigations and recovery position. The FMG also reviews efficacy of the remedial actions taken to brvent recurrence of frauds. These actions include strengthening of internal controls and putting in place need-based remedial measures. A detailed Fraud Risk Management Policy has been put in place for early detection, brvention, reporting, monitoring and follow-up of frauds. Vigilance Mechanism A full-fledged Vigilance Department is operational at your Bank's Head Office to carry out investigation into vigilance related complaints and suggest corrective measures to the top management for reducing deficiencies, if any, in the control systems and laid down procedures, apart from giving suggestions on quantum and type of penalties with regard to vigilance related disciplinary action cases. Your Bank has implemented the guidelines laid down by the Central Vigilance Commission (CVC) for improving vigilance administration, and has put in place a system wherein complaints received from the public/ any other sources are attended to promptly. A Vigilance Department site is hosted on the Intranet of your Bank, which provides an overview of the Vigilance Department, Format of Standard Notice of CVC to be displayed at all the branches/ offices of your Bank, Important Circulars/ Guidelines issued from time to time by CVC, Chief Technical Examiner's Organization (CTEO) of CVC and the Bank, and Do's and Don'ts of Preventive Vigilance. This has helped your Bank in enhancing the level of vigilance awareness amongst officers. During the year, surprise vigilance visits were made to various branches to detect malpractices, if any, and non-adherence of laid down systems and procedures and suitable corrective measures were suggested, wherever deemed necessary. With a view to sbrad vigilance awareness among employees of your Bank, numerous interactive workshops and talks/ brsentations on vigilance awareness with focus on brventive and participative vigilance were organized during the year. During the aforesaid events, due emphasis was laid on the need for brventive vigilance to be exercised by all the staff members in their day-to-day work of their own volition as also how vigilance awareness helps in achieving the larger goal of organizational efficiency. Vigilance Awareness Week was observed by your Bank during October 26-31, 2015 at its Head Office, its Zonal Offices and all branch offices to sensitize the employees about evils of corruption. On this occasion, your Bank released a Special Journal for the benefit of its staff members. In order to have a quick and ready reference of the latest instructions/ guidelines/ directives from the Central Vigilance Commission (CVC), Government of India - Ministry of Finance (MoF), Reserve Bank of India and the Bank, relating to vigilance matters as also procedures for vigilance activities, your Bank had brpared a Vigilance Manual. The same has been updated with the latest instructions of CVC, MoF, etc. in the matter issued up to March 31, 2016. Regulatory Compliance Your Bank has taken adequate steps to ensure compliance with various statutory and regulatory stipulations and guidelines. Your Bank has a dedicated Compliance Department, which is headed by a senior official designated as Chief Compliance Officer, to oversee compliance related activities. The scope of the compliance function of your Bank extends to ensuring compliance to statutory and regulatory norms as well as its internal guidelines. A Compliance Policy for the Bank was adopted by the Board as per the Reserve Bank of India guidelines. The Policy is reviewed annually. The role and responsibility with regards compliance function is clearly defined for every tier in your Bank. A well-established reporting system exists to ensure compliance of regulatory and statutory compliance through self-certification process by which compliance certificate is submitted to the Board of Directors. The Audit Committee of the Board (ACB) and the Board are apprised at monthly/ quarterly intervals about important communications/ guidelines received from the Reserve Bank of India. Right to Information Act Your Bank has designated 24 Central Public Information Officers (CPIOs) to respond to applications on various functional areas. In addition, all Branch Heads have been designated as Central Assistant Public Information Officers (CAPIOs) to receive and forward applications received under the RTI Act to CPIOs. Your Bank has designated a senior officer in the rank of Chief General Manager as an Appellate Authority for dealing with appeals of aggrieved applicants. A Transparency Officer has been appointed for effective implementation of provisions of Section 4 of the RTI Act. A separate link on the RTI Act has been provided on the Bank's website (www.idbi.com). Progressive use of Hindi Your Bank continued to adhere to the directives and complement the initiatives of the Government of India to promote the use of Hindi in the conduct of its business. In this regard, concerted efforts were made to achieve the targets stipulated for the Departments at Head Office and branches of your Bank. A large number of initiatives which involve customer interface are provided in Hindi. These initiatives include bilingual display (in Hindi and English) of instructions in ATMs, generation of ATM transaction slips in both languages and display of information on the Bank's website in Hindi and English. Your Bank has also facilitated staff to increase use of Hindi in their official work by creating template letters, forms and other relevant reference material in bilingual form - in Hindi and English - along with bilingual dictionaries on its intranet site. In order to progressively ramp up the usage of Hindi, a series of Rajbhasha Awareness Programmers were organized in all the regions of your Bank to familiarize staff members with the various requirements of Official Language Implementation and use of Hindi Unicode. A number of in-house campaigns were launched across regions to encourage and recognise initiatives taken by the staff for promoting the use of Hindi in your Bank. Your Bank's Endeavour to accelerate the application of Hindi in its operational domain found due recognition in various forums during the year. Your Bank was awarded the Rajbhasha Kirti Puraskar for commendable use of Official Language in Region 'B' by the Hon'ble President of India, Shri Pranab Mukherjee. Your Bank also received the Rajbhasha Shield for the same region from the Governor of Reserve Bank of India, Shri Raghuram Rajan, for commendable performance in the use of Hindi during the year. Further, your Bank and its officials received apbrciation from Town Official Language Implementation Committee's (TOLIC) Pune, Mumbai and Dehradun chapters for propagating the use of Hindi within the organization. The Drafting and Evidence Sub-committee of the Parliamentary Committee on Official Language commended the efforts made by your Bank in implementing the Official Language Policy. The Bank's in-house quarterly Hindi magazine 'Vikas Prabha' received commendation and awards from ABCI in two categories as also the coveted 'Best in-house Hindi magazine' citation from Ashirvaad, a renowned cultural and literary group. Customer Service and Complaints Management Your Bank, in its quest for being the most brferred and trusted bank for all its stakeholders, has adopted a customer-centric approach focusing on excellent customer service and a combrhensive suite of best-in-class financial solutions. Your Bank continued its drive towards improvement in service quality across all customer touch-points. The Customer Service Committee of the Board and the Standing Committee on Customer Service, which reports to the former, ensures that Customer Service and Complaints Management matters receive utmost attention. The Customer Care Centre (CCC) of your Bank, which is ISO 9001:2008 certified, deals with complaints management through assorted modes. Your Bank has taken various steps to improve the effectiveness of its grievance redressed mechanism across delivery channels by using integrated complaint management software which facilitates recording, monitoring and timely resolution of all the grievances/ complaints received through the assorted modes. To ensure uninterrupted service to its customers, your Bank has recently inaugurated another full-fledged Call Centre at Hyderabad in addition to its Call Centre in Belapur, Navi Mumbai. With an objective of further enhancing the customer experience, your Bank has taken up several new measures as also improvements in existing systems and processes. These include (i) introduction of missed call facility to obtain account balance and mini statement; (ii) introduction of an online module enabling end-to-end tracking and quicker execution of customer requests; (iii) strengthening of existing grievance redressal mechanism by introducing web-based escalation of complaints through the Bank's website; and (iv) creating customer awareness by promoting safe banking tips and BCSBI codes through the Bank's official social media channels and Interactive Voice Response (IVR) system of the Bank's phone banking channel. Your Bank is a member of the Banking Codes & Standards Board of India (BCSBI) and has adopted the Code of Bank's Commitment to Customers as well as the Code of Bank's Commitment to Micro and Small Enterprises. Your Bank's commitment and compliance with the BCSBI codes has been rated as 'High' with a total score of 85 as per the BCSBI Code Compliance Rating 2015. Even in the brvious rating, your Bank was rated as Above Average' with a total score of 81. The improvement in your Bank's rating is a reflection of its commitment to provide seamless customer service INFORMATION TECHNOLOGY Your Bank has continued to proactively leverage its proven IT prowess to offer a wide array of financial services and products, embedded with the latest technology and security features, to address the felt needs of its customers and further their banking convenience. In an endeavour to provide unique experience to its customers, your Bank has been bringing in newer technologies and introducing efficient products, services and systems, ensuring secured environment backed by proven and innovative technologies for its customers to feel comfortable while transacting. These technological innovations not only improve operational convenience but also enhance efficiency and security of the systems and processes. In an effort to professionally operate and manage various technology initiatives, your Bank has an in-house IT department and an IT subsidiary which gives focussed attention to its IT-related requirements. Your Bank continued to leverage its IT prowess by enabling 100% computerization of its branches to improve the banking experience of the customer. Your Bank has Tier 3 Data Centres with all the security measures in place and has also obtained ISO-27001 (2013) Security Certification for its Data Centre and Disaster Recovery Centre. As a green initiative, your Bank has implemented the Server Virtualization technology to achieve dynamic reallocation of resources with lower energy consumption. Your Bank's primary objective is to serve its customers by providing seamless and uninterrupted banking services. Your Bank has, therefore, adopted global standards in maintaining business continuity with BS-25999 Certification for Business Continuity Management. As part of its continuing IT agenda for enhancing customer safety and delight and scientifically mining customer needs and profiles, your Bank has simultaneously initiated several critical projects, which have relatively long-gestation period, such as Enterprise-wide Data Warehouse Solution and Enterprise-wide Fraud Risk Management Solution. Your Bank is in the process of upgrading its Core Banking Solution (CBS) to leverage the technological advancement for enhanced and delightful customer experience. Your Bank has received an Achievement Award for being the first Public Sector Bank (PSB) to adopt High QoS VPN concept, High Bandwidth Services on HX VSAT. Your Bank also won four IBA Banking Technology Awards in the Medium Bank Group. CENTRALISED OPERATIONS Your Bank has a state-of-the-art Central Processing Unit (CPU) for centralized services such as TDS on interest on term deposits, production and delivery of cards, pin mailers, cheque books, account statements and other deliverables to customers, Demat Account Opening etc. Similarly, your Bank has state-of-the-art Regional Processing Units (RPUs) for opening of Savings Bank Account, Current Account and Fixed Deposit Account. The RPUs are located at Mumbai, Delhi, Kolkata, Chennai, Pune and Ahmadabad. The CPU and RPUs ensure enhanced and uniform controls at the time of opening accounts from KYC and AML point of view, reduction in Turnaround Time (TAT) and savings in cost. CPU and all the 6 RPUs are certified under ISO 90012008 Quality Certificate. During the year, your Bank has been apbrciated by Income Tax Department for being the first bank to successfully integrate with the website of CPC (TDS), TRACES. Your Bank extends payment and collection of paper-based instruments and electronic clearing instruments through its 17 Central Clearing Units (CCUs) brsent pan-India. There are 3 grids for handling clearing activities through Cheque Truncation System (CTS) at Chennai, Delhi and Mumbai. The clearing activities have been migrated to CTS in all 3 grids and the transition was very smooth and according to the schedules proposed by the Reserve Bank of India and National Payments Corporation of India (NPCI).The concept and need for location-specific CCUs had become obsolete in view of changed scenario from Magnetic Ink Character Recognition (MICR) to CTS clearing. Your Bank has merged 12 location-specific CCUs with 3 grid centre CCUs with a view to reduce cost of establishment, administration, operations and to increase co-ordination and efficiency. branch operations support and policy Your Bank is at the forefront in disseminating knowledge to operating staff about their day-to-day operations by equipping them with latest information on banking operations, services etc. Your Bank has provided various solutions like Locker Management Software, e-Registers, e-Reports and other solutions aimed at improving customer service. Your Bank is fully compliant with regulatory directions for periodical transfer of amounts to Depositor Education Awareness Fund Scheme, 2014. A nodal 'Domestic Payment and Remittance Services section' has also been set up for formulating and issuing combrhensive policy guidelines and for controlling and monitoring operational activities of all payment and remittance services in your Bank. Your Bank has also set up an exclusive operational unit, namely, Electronic Transaction Processing Centre (ETPC) to handle Electronic Payments through various modes such as Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT), National Automated Clearing House (NACH), Electronic Clearing Service (ECS), Aadhaar Payment Bridge System (APBS), Aadhaar Enabled Payment System (AEPS) and Direct Benefit Transfer (DBT) so as to ensure better co-ordination of operations, increase efficiency of service delivery and quick resolution of queries and complaints. Your Bank is at the forefront in the industry in ensuring Clean Note Policy of the Reserve Bank of India. Your Bank has 12 state-of-the-art Currency Chests (CCs) located across the country. These CCs process cash from all the linked branches and provide clean notes for dispensing through ATMs and branches. CORPORATE SOCIAL RESPONSIBILITY (CSR) Your Bank apbrciates the importance of CSR activities in creating a meaningful and lasting improvement in the lives of the marginalized sections of the society. Your Bank views its CSR interventions as an investment in building corporate reputation, employee engagement and innovation. Your Bank has put in place a Board approved CSR policy with effect from April 1, 2014 in compliance with Companies Act, 2013. During 2015-16, your Bank funded 20 CSR interventions. Through diverse CSR activities in various areas as stipulated in the Companies Act 2013, your Bank, inter alia, contributed towards promotion of healthcare, improved access to health services and sanitation facilities, advancement of vocational and employable skills, enhancement of livelihood opportunities for disadvantaged strata of the society, supplementing environmental sustainability and holistic development of villages by undertaking planned interventions. Furthermore, in order to assist local government's efforts to provide relief measures to the populace stranded at the flood-affected areas of Tamil Nadu, your Bank contributed to 'Chief Minister's Public Relief Fund - Tamil Nadu'. Your Bank also contributed to Government funds for the welfare and rehabilitation of ex-servicemen, war widows and their dependents. As recognition of these efforts, your Bank received the Lions CSR Precious Award 2016 for its exemplary work in the field of social service. Your Bank also received the 5<h Annual Greentech CSR Award for the year 2015-16 in the Platinum category for its Water, Sanitation and Health (WaSH) project being implemented in 400 schools across Uttar Pradesh and Maharashtra. |