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E

BY

ST

AT

E B

AN

K O

F IN

DIA

Ratings

by

For taking an invesfunent decision, investors m

ust rely on theil own exam

ination of the Issue and tn" Oir.tor*"

Docum

ent including the risks involved. The Issue has not been recom

mended or approved by S

ecurities and Exchange

Board of India (S

EB

I) nor does SE

BI guarantee the accurary or adequary of this D

isclosure Docum

ent.

The B

onds are capital instuuments and not deposits of the B

ank and they cannot be used as Collateral for any loan m

ade bythe B

ank or any of its subsidiaries or aftiliates. The B

onds are diffelent from fixed deposits and are not cover.ed by deposit

insurance. Unlike the fixed deposib w

here deposits are repaid at the option of the deposit holder, the Bonds are not

redeemable at the option of the B

ondholders or without the prior consent of R

BI. T

he Bonds are subject to features like

coupon discretiorL write off at pre:specified

levels & P

ON

V, w

hich may im

pact the payment of interest and principal.IC

RA

degreeof

conventional debt inskuments.

The above ratings are not a recom

mendation to buy, sell or hold securities and investors should take their ow

n decision.T

he ratings may be subject to revision or w

ithdrawal at any tim

e

SB

I Capital M

arkets Limited

202, Maker T

ower 'E

',C

uffe Parade, M

umbai 400 005

Tel:02222178300

Fax:0222218 8332

Em

ail: [email protected]

Website: w

ww

.sbicaps.com

IDB

I Trusteeship

Services Lim

itedA

sian Building, G

round Floor

17, R. K

amani M

arg, Ballard E

stateM

umbai400 001

Tel:022 4080 7000

Fax:0226631

1776

Em

ail: [email protected]

Website: w

ww

. idbitrustee.com

The B

ank reserves ib sole and absolute right to modify (pre -pone/

reasolls or prior notice. The B

ank also reserves ib sole and absolutedate of the above issue w

ithout giving any reasons or prior notice.

with

by

Nservlclng

The B

onds are

the9B

ank9

Bid O

pen/Bid

Close on

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Novem

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risk.

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equityloss

severityv1s-a-vrs

letters for the above

Regiskar of the Issue

Alankit A

ssignments Lim

ited205 A

08, Anarkali C

omplex,

Jhandewalan

Extension,

New

Delhi- I10055

Tel.:011 42541234

Fax.: 0 I I 23552001

Em

ail: sbi.i [email protected]

Website: w

ww

.alankit.comIssue C

lose on

-likeloss

Private &

Confidential - F

or Private C

irculation Only

exterlt aDD

licable

ST

AT

E B

AN

K O

FIN

DIA

(Constituted under the S

tate Bank of hrdia A

ct 1955)C

enhal Office; C

orporate Cenhe, S

tate Bank B

havan, Madam

e Cam

a Road, M

umbaj - 400 021

ContactP

erson: M

r. Tarun P

. Lala, General M

anager (Shares &

Bonds);

T el: 0?2 227 4 084148 - 48; F

ax 022 ?285 s3/8E

-mail: grn.snb@

)sbi.co.irl W

ebsite: ww

w.sbi.co.irr

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Deem

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the above issue schedule without giving any

right to change the Deem

ed Date of A

lloknent/Pay n

Page L of 108

g#jf,

Novem

ber 22,2019

EIU

.g

res &

r)rr<Dept,

Private &

Confidential - N

ot for Circulation

Table of C

ontentsD

isclaimers:........

1. G

eneral Disclaim

er:

Disclaim

er of the Securities &

Exchange B

oard of India (SE

BI):..

Disclaim

er of the Arranger to the Issue: ........,.

Disclaim

er of the Stock E

xchange:...,.

Disclaim

er of the Rating A

gencies:...

6. D

isclaimer of the T

rustees.....

Forw

ard Looking Statem

ents

Definitions and A

bbreviations

A,

Issuer Information

1. C

entral Office of the Issuer:

2. C

hief Financial O

fficer of the Issuer:.

3. C

ompliance O

fficer of the Issuer:

4. A

rranger of the issue: .........

5. T

rustee of the issue:..L

6. R

egistrar of the issue:..........

7. C

redit Rating A

gencies of the issue:....,.....

8. A

uditors of the Issuer:

B.

A B

rief Sum

mary of the business / activities of the Issuer and its line of business:

L

L. O

verview

2. C

orporate Strucfure:

.....

3. K

ey Operational and F

inancial Param

eters for the last 3 Auclited years:......

4. P

roject cost and means of financing, in case of funding of new

projects

C.

Brief H

istory of the Issuer since its incorporation...............

1. D

etails of Share C

apital as on 30.09.2019:...........

2' C

hanges in the capital structure (Authorized C

apital) of the Bank as on 30.09.2019, for

the last five years:..

2.

J.4.5.

.27

.283.

Equity S

hare Capital H

istory of the Issuer as on 30.09.2019 for the last five years:4.

Details of any A

cquisition or Am

algamation in the last 1 year:.....,..

5. D

etails of any Reorganization or R

econstruction in the last Lyear:

Details of shareholding of the Issuer as on 30.09.2019................,

1,. Shareholding pattern of the Issuer as on 30.09.2019: ......,..........

2.List of top 1.0 holders of equity shares of the Issuer as on 30.09.2019:...........

..30

qlug

&

30

30

30

3L

slw

D

Dept

of 108

Private &

Confidential - N

ot for Circulation

ED

etails regarding the Directors of the Issuer (as on 30.09.2019)...

1. D

etails of the current Directors of the B

ank:

2. D

etails of change in Directors since last three years:

FD

etails regarding Auditors of the Issuer:

1,. Details of the current auditors of the Issuer:

2. D

etails of the change in auditors since last three years:

..32

..32

..34

..36

..3638

40404L

4L41.

42

45

G.

Details of B

orrowings of the Issuer as on 30.09.2019 ..................

1.. Details of Loan F

acilities:

2. D

etails of Deposits as on 30.09.2019: ..........

3. D

etails of Bonds:....

i. F

oreign Currency Issuances as on 30.09.2019: .............

ii. D

omestic U

nsecured Bond Issuances as on 30.09.2019...,..

4. List of top 10 B

ondholders as on 30.09.2019:........

5. T

he amount of corporate guarantee issued by the Issuer along w

ith name of the

counterparty (including Subsidiaries, Joint V

entures, Group C

ompanies, etc.) on behalf of

whom

it has been issued

6. D

etails of Certificates of D

eposit outstanding as on 30.09.20L9

7. D

etails of Rest of the borrow

ings (including hybrid debt like FC

CB

, Optionally

Convertible B

onds /Preference

Shares) as on 30.09.2019:-.........

46

8. D

etails of all default (s ) and f or delay (s ) in paym

ents of interest and principal ofany kind of term

loans , debt securities and other financial indebtedness includingcorporate guarantee issued by the issuer, in the past five years:

.......................4G

9. D

etails of any outstanding borrowings taken/ debt securities issued w

here taken /issued (i) for consideration other than casfu w

hether in whole or par! (ii) at a prem

ium or

discount or (iii) in pursuance of an option:.........46

H.

Details of prom

oters of the Issuer.................

1. D

etails of the Prom

oter Holding in the B

ank as on 30.09.20L9:.....,...,.............................47

I. A

bridged version of Audited C

onsolidated (wherever available) and S

tandaloneF

inancial Information (P

rofit & Loss statem

en! Balance S

heet and Cash F

low statem

ent) forlast three years and auditor qualifications: ..............

1. S

tandalone Balance S

heet.....

2. S

tandalone Profit &

Loss Account..........

3. S

tandalone Cash F

low S

tatement

4. C

onsolidated Balance S

heet..........

5. C

onsolidated Profit &

Loss Account......

6. C

onsolidated Cash F

low S

tatement........

53

&

...,.......45

............47

qtu{iDept.

of L08

Private &

Confidenlial - N

ot for Circulation

7. A

uditor's Opinion E

xtracts: (Standalone) .

.....'......'..55

For the year ended 31e M

arch 2019............ ............."'.........55

J. A

bridgedversionof Latestunaudited/ Lim

itedReview

Half Y

earlyConsolidated

(wherever applicable) and S

tandalone Financial Inform

ation (like P

rofit & Loss statem

ent,

and Balance S

heet) and auditor's qualifications, if any:,...........

1. U

naudited Financial R

esults for the half-year ended 30tt Septem

ber 2019 (standalone)

59

2. U

naudited summ

arized Balance S

heet (standalone)

3. U

naudited Financial R

esults for the half-year ended 30tt'SeP

tember

2019

(consolidated) .............

6L624.

Unaudited sum

marized B

alance Sheet (C

onsolidated)

K.

Any m

aterial event/ development or change having im

plications on the

financials/credit quality (e.g. any material regulatory proceedings against the

Issuer/Prom

oters, Tax litigations resulting in m

aterial liabilities, corporate restrucfuring

event etc) at the time of issue w

hich may affect the issue or the investor's decision to invest /

continue to invest in the debt securities.................

L, N

ames of the T

rustee and Consent thereof:

M.

Rating and D

etailed Rating R

ationale...

...62

...62

...53

...64

...54

N.

Security

O.

Stock E

xchange where B

onds are proposed to be listed ...

1. D

RR

Creation -...

2. Issue/instrum

entspecific regulations

3. A

pplication Process ......

i. \ /ho C

an Apply.....

ii. D

ocuments to be provided by Investors....

iii. A

pplications to be accompanies w

ith Bank A

ccount Details

Every application shall be required to be accom

panied by the bank account details of the

Applicant for the purpose of facilitating direct credit of all am

ounts through RT

GS

.

6464

5565

6555

How

to Apply........

Term

s of Paym

entF

orce Majeure .........,,.....

Applications under P

ower of A

ttomey

Application by M

utual Funds

Application by P

rovident Funds, S

uperannuation Funds and G

ratuity Funds ...58

iv.v.vi.vii.viii.ix.x.xi.

xii.xiii.xiv.

Acknow

ledgements

Basis of A

llocationR

ight to Accept or R

eject Applications

...........

PA

N /G

IR N

umber

..69

..69

clud&

685859

Signatures,

Deptt

of 108

4

xv. N

omination F

acilityxvi.

Fictitious A

pplications..................xvii. D

epository Arrangem

ents ..............xviii. P

rocedure for applying for Dem

at Facility...

Others........

i. R

ight of Bondholder(s).

ii. M

odification of Rights..

iii. F

utureBorrow

ings.........iv.

Notices

v. M

inimum

subscription......,vi.

Underw

riting.......................

vii. D

eemed D

ate of Allotm

ent

Private &

Confidential - N

ot for Circulation

.1.i.,:,........... 100

vlll.ix.x.xi.xii.xiii.xiv.

xv.

xvi.xvii.xviii.xix.xx.

Credit of the B

onds

Issue of Bond C

ertificate(s).M

arket Lot..............T

rading of Bonds.,..

Mode of T

ransfer of Bonds ......

Com

mon F

orm of T

ransfer......Interest on A

pplication Money

Interest on the Bonds

Paym

ent on Redem

ption..........R

ight to further issue under the ISIN

sR

ight to Re-purchase,

Re-issue or C

onsolidate the Bonds

Deduction of T

ax at Source....

List of Beneficial O

wners

The Issuer shall request the D

epository to provide a list of Beneficial O

wners as at tlre end of

the Record D

ate. This shall be the list, w

hich shall be considered for payment of interest or

repaynentof principal amoun! as the case m

aybe.xxi.

Succession.

xxii. Joint - Holders......

xxiii. Disputes and G

ovemhg Law

.......xxiv. Investor R

elations and Grievance R

edressal..,,.............xxv. M

aterial Contracts and A

greements involving F

inancial Obligations of the Issuer

76

P.

Issue Details............

Sum

mary T

erm S

heet:

a. D

isclosures pertaining to willful default....

R. D

EC

LAR

AT

ION

..,,......

AN

NE

XU

RE

I...............

AN

NE

XU

RE

II..............

AN

NE

XU

RE

III ............

78

78

9596

97

99

fiFF

.Sgstrli

'".4

of 108

Private &

Confidential - N

ot for Circulation

AN

NE

XU

RE

IV...

AN

NE

XU

RE

V.....

AN

NE

XU

RE

VI: F

inancials for Half Y

ear ended Septem

ber 30,2019

10L

1_03

L05

&

S:-

ituc'qlu$

*gept.

of 108

Private &

Confidential - N

ot for Circulation

Disclaim

ers:

1. G

eneral Disclaim

er:

This D

isclosure Docum

ent is neither a Prospectus nor a S

tatement in Lieu of P

rospectus and is prepared Lraccordance w

ith Securities and E

xchange Board of India (Issue and Listing of D

ebt Securities) R

egulations,2008 issued vide circular no. LA

D-N

RO

/GN

/20 08/13/127878 dated June 06,2008, as amended from

time

to time and S

ecurities and Exchange B

oard of India (Issue and Listing of Non-C

onvertible R

edeemable

Preference S

hares) Regulation,2013

as amended to the extent applicable. T

his Disclosure D

ocument does not

constitute an offer to public in general to subscribe for or otherwise acquire the B

onds to be issued by ("State

Bank of lndia" / "S

BI" f the "Issuer'/ the "B

ank"). This D

isclosure Docum

ent is for the exclusive use of theaddressee and it should not be circulated or distuibuted to third party(ies). It is not and shall not be deem

edto constitute an offer or an invitation to the public in general to subscribe to the B

onds issued by the Issuer.T

his bond issue is made shictly on private placen'rent

basis. Apart from

this Disclosure D

ocurnent, no offerdocum

ent or prospectus has been prepared in connection with the offering of this bond issue or in relation to

the issuer.

The bond issue w

ill be under the electronic book mechanism

as required in terms of the S

ecurities andE

xchange Board of India ('S

EB

I") circular SE

BI/H

O/D

DF

IS/C

IR/P

/2018/05 dated January 05, 2018 and

('SE

Bf') circular S

EB

I/HO

/DD

F{S

/CIR

/P/2018/122

dated August76,2018 and any am

endments thereto

('SE

BI E

BP

Circular") read w

ith "Operational

Guidelines for issuance of S

ecurities on Private P

lacement

basis through an Electronic B

ook Mechanism

" issued by B

SE

vide their Notice N

o. 20180928-24 datedS

eptember 28,2018 ('B

SE

EB

P O

perating Guidelines") and any am

endments

thereto. (lhe SE

BI E

BP

Circular

and the BS

E E

BP

Operating G

uidelines shall hereinafter be collectively referred to as the "Operational

Guidelines").

This disclosure docum

ent and the contents hereof are restrictred for only the Identified Investors who have

been specifically addressed through a comm

unication by the Issuer, and only such Identified Investors areeligible to apply for the D

ebentures. All Identified Investors are required to com

ply with the relevant

regulations/ guidelines applicable to them, including but not lim

ited to the Operational G

uidelines forinvesting in this issue. T

he contents of this disclosure document and any other inform

ation supplied incorutection w

ith this disclosure document or the bonds are intended to be used only by those Identified

Investors to whom

it is distributed. It is not intended for diskibution to any other person and should not bereproduced or dissem

inated by the recipient.

This D

isclosure Docurnent is not intended to form

the basis of evaluation for the prospective subscribers tow

hom it is addressed and w

ho are willing and eligible to subscribe to the bonds issued by S

BI. T

hisD

isclosure Docum

ent has been prepared to give general information regarding the B

onds, to partiesproposing to invest in this issue of B

onds and it does not purport to contain all the information that any such

party may require. S

BI believes that the inform

ation contained in this Disclosure D

ocument is true and

correct as of the date hereof.

SB

I does not undertake to update this Disclosure D

ocument to reflect subsequent events and thus

prospective subscribers m

ust confirm about the acfluacy and relevancy of any inform

ation contained hereinw

ith SB

I. How

ever, SB

I reserves its right for providing the information at ib absolute djscretion.

SB

I accepts

no responsibility for statemenb m

ade i. *y advertisem

ent or any other material and anyone placing

reliance on emy other source of inform

ation would be doing so at his ow

n risk and responsibility. Itospectivesubscribers m

ust make their or.rm

independent evaluation and judgment before m

aking the investrnent andare believed to be experienced in investing in debt m

arkeb and are able to bear the economic risk of investing

in Bonds. It is the responsibility

of the prospective subscriber to have obtained all consents, approvals or

of L08

Private &

Confidential - N

ot for Circulation

authorizations required by them to m

ake an offer to subscribe for, and purchase the Bonds. It is the

responsibility of the prospective subscriber to verify il they have necessary pow

er and competence to apply

for the Bonds under the relevant law

s and regulations in force. Prospective subscribers shoulcl conduct their

own investigatioru due diligerrce and analysis before applying for the B

onds. Nothing in this D

isclosureD

ocument should be construed

as advice or reconunendation by the Issuer or by the Arrangers, if any to the

Issue to subscribers to the Bonds. T

he prospective subscribers also acknowledge

that the Arrangers, if any to

the Issue do not owe the subscribers any duty of care in respect of this private placenent offer to subscribe

for the bonds. Rospective subscribers should also consult their ow

n advisors on the implications of

application, allotrnent, sale, holdin& ow

nership and redemption of these B

onds ancl matters inciclental

thereto.

This D

sclosure Docum

ent is not intended for distribution. It is meant for the consideration of the person to

whom

it is addressed and should not be reproduced by tlre recipient. The securities m

entioned herein arebeing issued on private placem

ent B

asis and this offer does not constitute a public offer/ invitation.

The Issuer reserves the right to w

ithdraw the private placem

ent of the bond issue prior to the issue closingdate(s) in the event of any unforeseen developm

ent adversely affecting the econom

ic and regulatoryenvironm

ent or any other force majeure condition including any change in apptcable law

.

2. D

isclaimer of the S

ecurities & E

xchange Board of India (S

EB

I):

This D

isclosure Docum

ent has not been filed w

ith Securities &

Exchange B

oard of India ('SE

BI'). T

he Bonds

have not been recomm

ended or approved by SE

BI nor does S

EB

I guarantee the accurary or adequary of thisD

isclosure Docum

ent. It is to be distinctly understood that this D

isclosure Docum

ent should. nog in any way,

be deemed or conskued to m

ean that the same has been cleared or vetted by S

EB

I. SE

BI cloes not take

any responsibility eitller for the financial soundness of any schem

e or the project for which the Issue is

proposed to be made, or for the correcttess of the statem

ents made or opinions expressed in this D

isclosureD

ocument. T

he Issue of Bonds being m

ade on private placement basis, filing of this D

isclosure Docum

ent isnot required to be filed w

ith SE

BI.

3. D

isclaimer of the A

rranger to the Issue:

The role of the A

rranger in the assignment is confined to m

arketing and. placernent of the Boncls on the basis

of this Dsclosure D

ocument as prepared by the B

ank. The A

rranger has neither scmtinized nor vettecl nor

reviewed nor has it done any due-diligence

for verification of the contents of this Disclosure D

ocument. T

heA

rranger shall use this Disclosure D

ocument for the purpose of soliciting subscription(s) from

Eligible

Investors in the Bonds to be issued by the B

ank on a private placement basis. It is to be distinctly understood

that the #oresaid use of this Disclosure D

ocument by the A

rranger should not in any way be deem

ed orcorstrued to m

ean that the Dsclosure D

ocument has been prepared, clearecl, approvecl, review

ed or vettedby the A

rrange4 nor should the contents to this Disclosure D

ocunrent in any manner be deem

ed to havebeen w

arranted, certified or endorsed by the Arranger so as to the corecbress

or completeness thereof.

Nothing in this D

isclosure Docum

ent constihrtes an offer of securities for sale in the United S

tates of Am

ericaor any other jurisdiction

where such offer or placem

ent would be in violation of any law

, rule or regtrlation.N

o action is being taken to permit an offering of the bonds in the nature of debentures or the clistribution of

this D

isclosure Docum

ent in any jurisdiction w

here such action is required. T

hedistribution/taking/sending/dispatching/transm

itting of this D

isclosure Docum

ent and the offering andsale of the B

onds may be reshicted by law

in certain jurisdictions, and persons into whose possession this

document com

es should inform them

selves abou! and observe, any such restrictioru.

of L08

Private &

Confidential - N

ot for Circulation

The Issuer has prepared this D

isclosure Docum

ent and the Issuer is solely responsible and liable for itscontents. T

he Issuer will com

ply with all law

s, rules and regulations and has obtained all regulatory,

governmental, corporate and other necessary approvals for the issuance of the B

onds. The B

arlk confirms

that all the information contained in this D

isclosure Docum

ent has been provided by the Issuer or is from

publicly available informatiorL and such inform

ation has not been independently verified by the A

rranger.

No representation or w

awanty, expressed or im

plied, is or will be m

ade, and no responsibfity or liability is

or will be accepted, by the A

rranger or their affiliates for the accuracy, completeness, reliability, correcktess

or faimess of this D

isclosure Docum

ent or any of the information or opinions contained therein, and the

Arranger hereby expressly disclaim

s any responsibility or liabiJity to the fullest extent for the contents of tl'Lis

Disclosure D

ocument, w

hether ariri^g in tort or confoact or otherwise, relating to or resulting from

this

Disclosure D

ocument or any inform

ation or errors contained therein or any omissions there from

. Neither

Arranger and its affiliates, nor its directors, ernployees, agents or representatives

shall be liable for any

damages w

hether direct or indirec! incidental, special or consequential including lost revenue or lost profits

that may arise from

or in connection with the use of this docum

ent. By accepting this D

isclosure Docum

enf

the Eligible Investor accepb term

s of this Disclaim

er Clause of A

rranger, which form

s an integral part of this

Disclosure D

ocument and agrees that the A

rranger will not have any such liability.

The E

ligible Investors should carefully read this Dsclosure D

ocument. T

his Disclosure D

ocument is for

general information pul'poses only, w

ithout regard to specific objectives, suitability, financial situations and

needs of any particular person and does not constitute Erny recofiunendation and the E

ligible Investors are

not to construe the contents of this Disclosure D

ocument as investrnenl legal, accountinp regulatory or T

ax

advice, and the Eligible Investors should consult w

ith its own advisors

as to all legal, accounting, regulatory,

Tax, financial and related m

atters concerning an investm

ent in the Bonds. T

his Disclosure D

ocument should

not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities

mentioned therein, and neither this docunrent nor anything contained herein shall form

the basis of or be

relied upon in connection with any contract or com

mitrnent w

haboever.

This D

isclosure Docum

ent is confidential and is made available to potential investors in the B

onds on the

understanding that it is confidential. Recipients are not entitled to use any of the inform

ation contained in

this Disclosure D

ocument for any purpose other tllan in assisting to decide w

hether or not to participate in

the Bonds. T

his document and irrform

ation contained herein or any part of it does not constitute or purport

to constitute investrnent advice in publicly accessible media and should not be printed, reproduced,

hansmitted, sold, distributed or published by the recipient w

ithout the prior written approval from

the

Arranger and the B

ank. This D

isclosure Docum

ent has not been approved and will or uvty not be review

ed

or approved by *y statutory or regulatory authority in India or by any stock exchange in India. T

his

document m

ay not be all inclusive and may not contain all of the inform

ation that the recipient may coruider

material.

Each person receiving this D

isclosure Docum

ent acknowledges

that:

1,. S

uch person has been afforded an opportunity to request and to review and has received all

additional information considered by it to be necessary to verify the accuracy of or to supplem

ent the

inforrnation hereiru and

2. H

as not relied on the Arranger and/or its affiliates that m

ay be associated with the B

onds in

connection with its investigation of the acflracy of such inform

ation or its invesknent decision.com

pliance of

v)rnqT

ug

Shares &

Issuer hereby declares that the Issuer has exercised due-diligence'to

Dept.

of 108

Private &

Confidential - N

ot for Circulation

applicable disclosure norrns in this Disclosule D

ocument. T

he Arranger: (a) is not acting as trustee or

fiduciary for the investors or any other person; and (b) is under no obligation to conduct any "know your

customer" or other procedures in relation to any person. T

he Arranger is not responsible for (a) the

adequary, accuracy and/or com

pleteness of any information (w

hether oral or vwitten) supplied by the Issuer

or any other person in or in connection with this D

isclosure Docum

en! or (b) the legality, validity,effectiveness, adequacy or enforceabfity of this D

sclosure Docum

ent or any other agreement anangem

ent

or document entered into, m

ade or executed in anticipation of or in connection with this D

isclosure

Docum

enf or (c) any determination

as to whether any inform

ation provided or to be provided to anyinvestor is non-public inforrnation the use of w

hich may be regulated or prohibited by applicable law

orregulation relating to insider dealing or otherw

ise.

The A

rranger or any of their directors, employees, affiliates or representatives do not accept any

responsibility and/ or liability for any loss or damage arising of w

hatever nature and extent in connection

with the use of any of the inform

ation contained in this document. B

y accepting this Disclosure D

ocument

investor(s) agree(s) that the Arranger w

ill not have any such liability.

Please note that:

(a) T

he Arranger and/or their affiliates m

ay, now and/or in the future, have other investrnent and

comm

ercial banking trust and other relationships with the Issuer and w

ith other persons ("Other P

ersons");

(b) A

s a result of those other relationships, the Arranger and/ or their affiliates m

ay get information

about Other P

ersors, the Issuer arld./ or the Issue or that may be relevant to any of them

. Despite this, the

Arranger and/ or their affiliates w

ill not be required to disclose such informatiorL or the fact that it is in

possession of such information, to any recipient of this D

isclosure Docum

eng

G)

The A

rranger and/ot their affiliates may, now

and in the future, have fiduciary or otherrelationships under w

hich i! or they, may exercise voting pow

er over securities of various persons. Those

securities may, from

time to tim

e, include securities of the Issuer; and

(d) T

he Arranger and/or their affiliates m

ay exercise such voting powers, and otherw

ise perform its

functions in connection with such fiduciary or other relationships, w

ithout regard to its relationship to the

Issuer and/or the securities."

4. D

isclaimer of the S

tock Exchange:

If required, a copy of this Disclosure D

ocument m

ay be submitted to B

SE

Limited (hereinafter referred to as

"BS

E') and/ or N

ational Stock E

xchange of Inclia Limited (hereinafter referrecl to as "N

SE

") for hosting the

scune on its website. It is to be distinctly understood that such subm

ission of the Disclosw

e Docum

ent with

BS

E and N

SE

or hosting the same on its w

ebsite should not in any way be deem

ed or conskued that the

Disclosure D

ocument has been cleared or approved by B

SE

and/or NS

E; nor does it in any nunner w

arrant

certify or endorse the correcbress or completeness of any of the contents of this D

isclosure Docum

en! nor

does it warrant that this Issuer's securities w

ill be listed or continue to be listed on the exchange; nor does ittake responsibility for the financial or other soundness of this Issuer, its prom

oters, its managem

ent or any

scheme or project of the Issuer. E

very person who desires to apply for or otherw

ise acquire any securities of

this Issuer may do so pursuant to independent inquiry, investigation and analysis and shall not have any

claim against the exchange w

hatsoever by reason of any loss which m

ay be suffered by such pel'sonconsequent to or in connection w

ith such subscription/ acquisition whether by reason of anything stated or

omitted to be stated herein or any other reason w

haboever.

of L08

Private &

Confidential - N

ot for Circulation

5. D

isclaimer of the R

ating Agencies:

A C

RIS

IL rating reflects CR

ISh-"s current opinion on the likelihood of tim

ely payment of the obligation under

rated irutrument and does not contribute an audit of tl-re rated entity by C

RIS

IL. CR

ISIL ratings are based on

the information provided by the issuer or obtained by C

RIS

IL from sources it considers reliable. C

RIS

IL does

not guarantee the completeness or accnracy of the inform

ation on w

hich the rating is based. A C

RIS

IL ratingis not a recom

mendation to buy, sell or hold the rated instrum

ent, it does not comm

ent on the market price

or suitability for a particular investor. All C

RIS

IL ratings are under surveillance. R

atings are revised as andw

hen circumstances so w

arrant. CR

ISIL is not responsible for any enors and especially, states that it has no

financial liability whatsoever to the subscribers / users / transm

itters / distributors of this product. CR

ISIL

Ratinp rating criteria are available w

ithout charge to the public on the CR

ISIL w

ebsite ww

w.crisil.com

.

6. D

isclaimer of the T

rustees

Investors should carefully read and note the contenb of the Dsclosure D

ocument/D

isclosure D

ocuments

Each P

rospective investor should make its ow

n independent assessment of the m

erit of tlre investunent inB

onds and the issuer Bank. P

rospective investors should consult their own financial, legal, tax and other

professional advisors as to the risks and invesfonent considerations arising from

an investrnent in the Bonds

and should possess the appropriate resources to analyze such investonent and suitability of such

invesknent to such investor's particular circumstance. Ilospective investors are required to m

ake their or,rmindependent evaluation and judgem

ent before making the investunent and are believed to be experienced in

Investing in debt markets and are able to bear the econom

ic risk of investing in such irukuments

of 108

Private &

Confidential - N

ot for Circulation

Forw

ard Looking Statem

ents

The B

ank has included statements in this D

sclosure Docunent w

hich contain words or phrases such as

"wil1" , "w

oufd" , " aird' , " aimed" , "w

ill likely result", "is likely", " are ltkely" , "believe", " expec{' , "expected

to","wil7continue", "w

ill achieve", "anticipate","estinlrate", "estim

ating", "intend", "Plun', "contem

plate",

"seek to", "seeking to","fryingto","tatge(',"propose to","futl)le","objective",

"9oa1l","ptoiec{', "should",,,ca7{" "covld", "m

ay", "will pursue", "o1;r. judgm

ent' and similar expressioru or variations of such

expressions, that are "forrvarcl-looking statements". A

cfual results may differ m

aterially from those

suggested by the forwardJooking statem

ents due to certain risks or uncertainties associated w

ith the Bank's

expectations with respect to, but not lim

ited to, the actual growth in dem

and for banking and other financial

products and services, its ability to successfr:lly implem

ent its strategy, including its use of the internet and

other teclmology and its rural expansion, its ability to integrate recent or future m

ergers or acquisitions into

its operations, its ability to manage the increased com

pleity of the risks the Bank faces follow

ing ib rapid

intemational grow

th, future levels of impaired loans, its grow

th and expansion in domestic and overseas

markets, the adequacy of its allow

ance for credit and investrnent losses, technological changes, investrnent

income, its ability to m

arket new products, cash flow

projections, the outcome of any legal, tax or regulatory

proceeclings in India ancl in other jurisdictions the Bank is or w

ill becorne aPafty to, the future im

pact of new

accounting standards, ib ability to implem

ent its dividend policy, the impact of changes in banking

regulations and other regulatory changes in India and other jurisdictions on the Bank, including on the assets

and liabilities of SB

I, a former financial institution not subject to Indian banking regulations, its ability to roll

over its short-term furrdir,g sources and its exposure to credit, m

arket and liquidity risks. By their nature,

certain of the market risk disclosures are only estim

ates and could be materially different from

what actually

occurs in the future. As a resulf actual futw

e gains, losses or impact on net interest incom

e and net income

could materially differ from

those that have been estimated'

1:r additioo other factors that could cause actual results to differ materially from

those estimated by the

forwardJooking

statements contained in tlds D

isclosure Docum

ent include, but are not limited to, the

monetary and interest rate policies of India and the other m

arkets in which the B

ank operates, natural

calamities, general econom

ic, financial or political conditions, instability or uncertainty in India, southeast

Asia, or any other country, caused by *y

factor including terrorist attacks in India or elsewhere, m

ilitary

armam

ent or social unrest in any part of India, inflation, deflatiorU unanticipated turbulence in interest rates,

changes or volatility in the value of the rupeq instability in the subprime credit m

arket and liquidity levels in

the foreign exchange rates, equity prices or other market

ratres or priceq the performance of the financial

markets in general, changes in dom

estic and foreign laws, regulations and taxes, changes in the com

petitive

and pricing environment in India, and general or regional changes in asset valuations.

of L08

Allotrnent/ A

llot/

Allotted

AY

Bond(s)

Allottee

BS

E E

BP

Guidelines

CA

R

Applicant/ Investor

Application F

onn

Debenture T

rusteeshipA

greement

Deem

ed Date of

Alloknent

The issue and allohnent of the B

onds to the successful Applicants in *re Issue

Definitions and A

bbreviations

Beneficial O

wner(s)

person who m

akes an offer to subscribe the Bonds pusuant to the term

s of thisD

isclosure Docum

ent and the A

pplication Form

A successful A

pplicant to whom

the Bonds are allotted pursuant to the Issue, either in

full or in part

Private &

Confidential - N

ot for Circulation

Directors

A

Board/ B

oard of

Any person or entity holding the B

onds and whose narne appears in the list of

Beneficial O

nrners provided by the Depositories

The form

in terms of w

hich the Applicant shall m

ake an offer to subscribe to the Bonds

and which w

ill be considered as the application for allotrnent of Bonds in the Issue

The agreem

ent executed between the B

ank and the Trustee for the purpose of

appointing the Trustee as the debenture trustee the Issue

Assessm

ent Year

Bondholder(s) holding B

ond(s) in dematerialized form

(Beneficial O

r,rmer of the

Bond(s) as defined in clause (a) of sub-section of S

ection 2 of the Depositories A

ct,196)

Bondholder(s)

The C

entral Board of S

tate Bank of India or C

omm

ittee thereof, uriless otherr,r.isespecified

BS

E

Non-C

onvertible, T

axable, Perpetual, S

ubordinated, Uruecured B

asel III compliant

Additional T

ier 1 Bonds for inclusion in A

dditional Tier 1 C

apital in the nature ofdebentures of face value of R

s. 10 lacs each at par to be issued by State B

ank of India("S

BI" or "Issuer" or the "B

ank") through private placement route under the term

s ofthis D

isclosure Docum

ent.

CD

SL

Coupon / Interest

Paym

ent Date

CR

ISILR

atinp

BS

E Lim

ited

Operational G

uidelines for issuance of Securities on P

rivate Placem

ent basis throughan E

lectronic Book M

echanisrn' issued by BS

E vide their N

otice No. 20180928-24 dated

Septem

ber 28,2018 as amended and m

odified from tim

e to time.

Capital A

dequacy Ratio

Centoal D

epository Services (India) Lim

ited

As m

entioned in the Sum

mary T

erm S

heet

CR

ISIL R

atings Limited

Depositories A

ct

Depository

Depository P

articipant

The cut-off date declared by the B

ank with effect from

which all benefits under the

Bonds including interest on the B

onds shall be available to the Bondholder(s). T

he

actual allotrnent of Bonds (i.e. approval from

the Board of D

irectors or a Com

mittee

thereof) may take place on a date other than the D

eemed D

ate of Allohnent

Disclosure

Docum

ent/ Information

The D

epositories Act 1996, as am

ended from tim

e to time

A D

epository registered with S

EB

I under the SE

BI (D

epositories and Participant)

Regulations,

1996, as amended from

time to tim

e

A D

epository participant as defined under Depositories A

ctD

isclosure Docum

ent dated Novem

ber 20, 2019 for private placement of N

on-C

onvertible, Taxable P

erpetual, Subordinate!ffiqqgd' B

isel III com

pliant

of L08

?)rlr'qfbii'

*

Private &

Confidential - N

ot for Circulation

Mem

orandurn

DIN

debentures of face value of Rs. 10 lacs each ("B

onds") atpar aggregating to total issuesize not exceeding R

s. 3,895.20 crores with a base issue size of R

s. 1,500 crore and agreen-shoe option to retain oversubscription upto R

s. 2,395.20 crore by State B

ank ofIndia.

DP

Director Identification N

umber

DR

R

Depository P

articipant

Additional T

ier 1 Bonds for inclusion

First IS

IN C

ircular

FIIs

Reserve

SE

BI C

ircular CIR

/IMD

/DE

-7/ 67 /2017 dated June 3Q

2017 as amended

Foreign Institutional Investors

Financial Y

ear/ FY

FIs

FR

N

Financial Institutions

GIR

Bond/ D

ebenture

Gol

I.T. A

ct

constituted under the State B

ank of India Act, 1955 and

Issuer/SB

I/Bank

IFS

C

Listing Agreem

ent

the NS

E, in relation to the listing of the B

onds, as per the format issued by securities

and Exchange B

oard of India in its circular dated October 13,2015 (b"ati"g reference

CIR

/cFD

/cMD

/6/2015) read with the securities and E

xchange Board of Lrclia

(t itting Obligations and D

isdosure Requirem

ents) R

egulations (Listing Regulations),

as amended from

time to tim

e.

Period of tw

elve months beginning from

March 31 of the subsequent calendar year

India

Term

Sheet

in Additional T

ier 1 Capital in the nature of

Means one B

ond

MoF

Firm

Regishation N

umber

National E

lectronic Funds T

ransfer

General Lndex R

egiskation Num

berG

overnment of Indta/ C

enkal Governm

entT

he Income T

ax Act, 1,96L, as am

ended from tim

e to time

Indian Financial S

ystem C

odeIndia R

atings & R

esearch Ilivate Limited

PA

N

having its Corporate C

entre at, State B

ank Bhavan, M

adame C

ama R

oad,M

umbai - 400 021

Loss Absorbency

State B

ank of India,

the Bank as determ

ined by the RB

I as per the RB

I

R&

TA

Market Lot

Lirtitg Agreem

ent

MF

April 1 of a calendar year and. ending on

NE

FT

NP

As

NS

DL

NS

E

entered into/to be entered into by the Issuer with the B

SE

and/or

As defined in

Operational G

uidelines

Mutual F

und

Minishy of F

inance

PO

NV

Non-perform

ing A

ssets

National S

ecurities Depository Lim

ited

RB

I

National S

tock Exchange of India Lim

itedR

efers to, collectively theG

uidelines

RB

I Norm

s / RB

IG

uidelines

Perm

anent Account N

umber

The P

oint of Non V

iability forG

uidelines.

Registrar and T

ransfer Agent

Reserve B

ank of India

SE

BI E

BP

Circular and the B

SE

EB

P O

perating

Master C

ircularN

o. DB

R.N

o.BP

.BC

.l/2L.06.201/2015-16 dated July 01, 2015

issued by the Reserve B

ank of India on Basel III capital regulations covering

terms and conditions for issue ofperpetual debt capital instrum

ents for inclusion

r){c c.iq1us far11lt

&

of 108

Record D

ate

modified from

time to tim

e

Rs. / IN

R

RT

GS

to the Issue, in this case being Alankit A

ssignrnents Linited

SB

I Act

SE

BI

Real T

ime G

ross Settlem

ent

SE

BI A

ct

as Additional T

ier 1 capital as

SE

BI E

BP

Circular

Exchange B

oard of India, constituted under the SE

BI A

ct,1,992

As m

entioned in the Sum

maryT

ermsheet

Regish'ar

Indian National R

upee

August 16,2018

SE

BI D

ebt Regulations

and Exchange B

oard of India (Issue and Listing of Debt S

ecurities)

State B

ank of India Act, 1955

The S

ecurities and

Securities and E

xchange Board

Second IS

IN C

ircular

The C

ompanies A

ct

Private &

Confidential - N

ot for Circulation

Refers

TD

S

circular SE

BI / H

O / D

DH

S/ C

IR/ P

/ 201,8 / L22 dated

of Non-C

onvertible, T

axable, Perpetual, S

ubordinated,T

he Issue/ The

Offer/ P

rivateP

lacement

to SE

BI/H

OlD

DH

S/C

IR

/P/201,8/05 dated January 05,2018 and S

EB

I

Seculities

Regulations, 2008 issued vide circular no. LA

D-N

Ro/G

N/2008/lz/1zrB

7sdated June 06, 2008, as am

ended from tim

e to time and S


Board of India (Issue and Listing of N

on-Convertible R

edeemable

preference

Shares) R

egulation, 2013 as amended to the extent applicable

SE

BI C

ircular CIR

/DD

HS

/P/59/2018 dated M

arch 28,20'i.8T

ax Deducted at S

ource

Trustees

of India Act, 1992, as am

ended from tim

e to tirne

Com

panies

of India and Com

panies Acg 1,956 (to the extent applicable)

Act, 2013, as am

ended and to the extent notified by the Governm

ent

Private P

lacement

Unsecured, B

asel III Com

pliant Additional T

ier 1 Bonds, for inclusion in

Additional T

ier 1 Capital of the B

ank, in the nature of debentures of face value ofR

s.10 Lacs each at par aggregating to total issue size not exceeding R

s. 3,895.20crores w

ith a base issue size of Rs. 1,500 crore and a green-shoe option to retain

oversubscription upto Rs. 3,895.20 crore

Trustees for the B

ondholders in this case being IDB

I Trusteeship services Lim

ited

by State B

ank of India

of L08

Nam

e and Addrcss of the follow

ing:

'1,. Central O

ffice of the Issuer:

A. Issuer Inform

ation

State B

ank of India

Corutituted under the S

tate Bank of India A

ct, 1955

Private &

Confidential - N

ot for Circulation

State B

ank ofhrdiaC

orporate Cenhe, S

tate Bank B

havan,

Madam

eCam

aRoad,

Mum

bai -400021C

ontact Person: M

r. Tarun P

. La14 General M

anager (Shares &

Bonds)

Tel no. ; +

91-22-227 4 0U1. - 48

Faxno.: +

91-222855U8

E-m

ait gm.snb@

sbi.co.in

Website: w

ww

.sbi.co.in

2. C

hief Financial O


Shri ltashantK

umar

DM

D &

CF

OS

tate Bank of India

Corporate

Centoe, S

tate Bank B

havan,

Madam

eCam

aRoad,

Mum

bai - 400 02LT

el no.: 02222741957

Faxno.: U

266103519

E-m

ail [email protected]

3. C

ompliance O


Shri S

anjay M. A

bhyankar

Vice P

resident - Com

pliance & C

ompany S

ecretary

State B

ank of Lrdia

Corporate C

enhe, State B

ank Bhavan,

Madam

eCam

aRoad,

Mum

bai-400 021T

el no.: +91-22-227 4 08115

Fax no.: +

91-22-2285 5348

E-m


4. Aranger of the issue:

SB

I Capital M

arkets Limited

202, MakerT

ower'E

',C

uffe Parade,

Mum

bai-400 005$w

gIUgI

osptlP

age 16 of 108

Tel:0222A

78300

Fax:02222188332

Em

ail: dcrn@sbicaps.

corn

Website: w

ww

.sbicaps.corn

5. T

rustee of the issue:

IDB

I Trusteeship S

ervices Limited

Asian B

uilding Ground F

loor

1Z R

. Kam

ani Marg B

allard Estate

Mum

bai4OO

001

Tel:02240807000

Fax:0225531.1775

Em


Website: w

ww

.idbitrustee.com

6. R

egistrar of the issue:

Alankit A

ssignmenb Lim

itedS

EB

I Reg N

o.: INR

000002532

205208, Anarkali C

omplex,

|handewalan E

xteruion,

New

Delhi- 11005,5

Tel.:011 4%

41234

Fax

01.1. n552001,

Em

ail sbi.igr@alanl<

it.com

Website: w

ww

.alankit.com

Credit R

ating Agencies of the issue:

ICR

A Lim

itedE

lectric Mansion

Appasaheb M

arathe Marg

Prabhadevi, M

umbai

- 400025

Tell +

91-2261693300

E-m


Website: w

ww

.icra.in

CR

ISIL Lim

itedC

RIS

IL House, C

enhal Avenue,

Hiranandani

Business P

ark, Pow

ai,

Mum

bai-400 076T

el:+912.33423000

Fax: +

91-22-33423020

E-m


Website: w

ww

.crisil.corn

Private &

Confidential - N

ot for Circulation

r)u+E

IU{;D

epl.,P

age 17 of 108

, 8.

I

Auditors of the Issuer:

l[ls. Chaturvedi &

Shah

FR

N. N

o.101720W71,4-715 T

ulsiani Cham

bers 212,F

ree Press Journal M

arg, Narim

an point Mum

bai _ 400 0Zl

T el: +

9'1" -022-3021 85 00

Em

ail: vitesh. [email protected]

Private &

Confidential - N

ot for Circulation

l\4/s. Ray &

Ray

FR

N: 301072 E

WE

BE

L Bhaw

an Ground F

loorB

lock EP

& G

R B

idhan Nagar S

ector VS

alt Lake, Kolkata 700091,

Tel-033-4064 8107 / 8108 / 8109

E m

ail- [email protected]

l{s.SK

Mittal&

Co.

FR

N:001135 N

E-29, S

outh Extension part-Il

New

Delhi 1.1,0049

E m

ail- skmittalca@

yahoo.co.in

Tel- 011,-26258517 / 41640694

l\d/s Rao &

Kum

ar.F

RN

:0030895

Door N

o. 1.0-50-19/4S

oudamani S

iripuramV

isakhapatnam - 530 003

Tel: +

91-891-2755927

Fax: +

91-891-2738554

Em

ail - [email protected]

lVf/s B

rahmayya &

Co.

FR

N:0005115

No.48, M

asilamani R

oadB

alaji Nagar, R

oyapettah, Chennai

Tel: +

91-44-2813 1128 / g8 /48F

axi +91-44-2813 1153

Em

ail - mail@

brahnra,vya.com

l\4s. K V

enkatachalam A

iyer & C

o.,F

RN

: 004610 S41, / 35478, F

irst Flo or,

BIue B

ird Tow

ers,P

rovidence Road,

Kochi- 682018, K

eralaT

el:048 42396511

3456

elPrq

i{[vg:

ge 18 of 108

8 7 M

/s.NC

Raiagopal&

Co.,

FR

N: 003398 S

No. 22, V

.Krishnasw

amy A

venue,M

ylaporeC

hennai- 600004, T

amil N

aduT

el:044 24991569

l[/s.OP

Totla&

Co.,

FR

N:000734 C

302, Alankar P

oint, Geeta B

hawan,

Square, A

. B. R

oad,

Indore- 452001, Madhya P

radeshT

el 07312492877

9 M

/s.SK

Kapoor&

Co.,

FR

N:000745 C

16/98, LIC B

uilding,T

he Mall,

Kanpur- 20800L, U

ttar Pradesh

Tel 915122372244

I\$s. Karnavat &

Co.,

FR

N:104863 W

2A, K

itab Mahal,

192, DR

. D.N

.RO

AD

,F

ort, Mum

bai- 400001, Maharashtra

Tel: 02240666666

l\rVs. K

alani & C

o,F

RN

: 000722 C

703VII F

loor, Milestone B

uilding,G

andhi Nagar C

rossing, Tonk R

oad,

Jaipur- 302015, Rajasthan

Tel: 014 12709001

'12 l\$s. G

PA

grawal &

Co.,

FR

N: 302082 E

7-A K

iran Shankar R

ay Road,

2nd Floor,

Kolkata- 70000'J., W

est Bengal

Tel: 033 22483941

I4/s.ICB

halla&C

o.,F

RN

:001111NB

-l7,Maharani B

agh,

New

Delhi- 110065, D

elhiT

et 011 41551155

Private &

Confidential - N

ot for Circulation

L0

77

qfugi

De'pt.

13

of 108

L41\4/s. D

e Chakraborty &

Sen

FR

N: 303029 E

Bikaner B

uildings, 1st Floor,

8/B,Lallbazar S

treet,

Kolkata- 700001, W

est Bengal

Tel:033 2230017L

Private &

Confidential - N

ot for Circulation

of 108

Private &

Confidential - N

ot for Circulation

B. A

Brief S

umm

ary of the business/ activities of the Issuer and its line of business:

1. O

verview:

The B

ank is India's largest cotnmercial bank in term

s of assets, cleposits, branches, number of

customers and em

ployees, enjoying the continuing faith of millions of custom

ers across the socialsP

ectrum. W

ith effect from 1st A

prl12077, five of its associate banks and Bharatiya M

ahilla Bank w

erem

erged. The B

ank has 21,929 branches in India, 228 international offices in 32 countries as of 30thS

eptember 2019. T

he GoI ow

ned 57.13% in the B

ank as of 30th Septem

ber 2019. A

s of 30th Septem

ber20L9, the B

ank had, on a standalone basis, deposits, advances and a total assets base of 130,333.96billion, <

21,467.60 billion and {36,780.01 billion, respectively. B

asecl on RB

I data, as on the lastreporting F

riday of Septem

ber 201,8, and the last reporting Friday of S

eptember 2019, tl're B

ank'sm

arket share of aggregate domestic deposits w

as 22.98% and,22.71,%

, respectively, ancl its market

share of domestic advances w

as 19.64% and 19.44%

, respectively, among all schecluled com

mercial

banks in India. The B

ank organizes its customer relationships, m

arketing and. product developm

ent,as w

ell as non-customer

facing activities, through its principal business groups as follows:

The R

etail €t Digital B

anking Group, w

hich services the Bank's personal banking custom

ers inurban, m

ehopolitan, rwal and sem

i-urban areas, small-scale industries, inclucling state-ow

nedenterprises, and corporate custom

ers that are not serviced by either the Corporate A

ccountsG

roup or the Com

mercial C

lients Group. T

l're Retail &

Digital B

anking Group also provides

financial services to the GoI and S

tate governments.

The C

orporate Accounts G

rottp, which provides corporate banking services to corporations

anclinstitutions based on quality (external or internal rating) of the account, the potential to dobusiness, and the client's reputation or strategic im

portance, to focus on the highest priority andquality individual and group relationships w

ith differentiated coverage.

The C

owm

erciol Clients G

roup, which provides corporate banking services to corporations

anciinstitutions other than having relationship w

ith Corporate A

ccounts Group and. enjoying credit

facilities of more than T

0.5 bitlion.

aaaaaa

The Intenntionttl B

anking Group, w

hich through its international branches, subsidiaries,representative offices and joint ventures, provides a range of international banking services toIndian and foreign com

panies with operations w

ithin and outside India, non-resident Indians ininternational m

arkets, as w

ell as the local population in such jurisdictions.

The G

lobnl Markets G

roup, which is responsible for the B

ank's treasury functions, managing

domestic liquidity, its investm

ent portfolio and foreign currency exposwe. T

he Global M

arketsG

roup also provides foreign exchange and risk hedging derivative products.

The S

tressed Assets R

esohftion Group, w

hich works as a dedicated ancl specialized vertical for

efficient resolution of high value NP

As transferred to it by other verticals by form

ulating suitablem

easures including initiating hard recovery measures, in accordance w

ith applicable policiesstipulated by the B

ank's credit policy and procedures comm

ittee

The range of products and services offered by the B

ank includes loans and advances, cleposits,com

mission

basedforeign exchange and derivatives products, retail lending and deposits,

of 108

Private &

Confidential - N

ot for Circulation

products and services, as well as alternative paym

ent products. The B

ank is also present, tluoughits subsidiaries and joint ventures, in diverse segm

ents of the Indian financial sector, includingasset m

anagement, investm

ent banking, factoring and corrmercial services, treasury operations,

credit cards, payment services and life and general insurance.

Tlre B

ank is the largest constituent part of the Group, and represented 94.09%

,94.66% and 94.97%

of the Group's total assets as of S

eptembet 30,2019, M

arch 91,,201,9, and Septem

ber 30, 2018. The

Bank's net profit for half year ended S

eptember 2019 and F

iscal 2019 was T

53.24 billion and 18.62billion respectively, w

hile tl're Bank incurred

a loss <65.47 billion during F

iscal 2018. The B

ank alsoconducts operations outside India including in the U

nited States, U

nited Kingdorn, H

ong Kong

and Singapore, through branches, representative offices as w

ell as subsidiaries, associates, iointventutes and investm

ents outside India. The B

ank also conducts operations outside India, throughbranches, representative offices as w

ell as subsidiaries, associates, joint venfures ancl investments

outside India.

The B

ank's standalone deposits, advances and total assets were of {30,333.96 billion, <

21,461.60billion and 136,780.01 billion, respectively, as on S

eptember 30,2019; <

29113.86 billion, <Z

1BS

877billion and {36809.14 billioru respectively, as on M

arch 31,, 201,9; and ?27063.43 billion, {19348.80billion and {34547.52 billion, respectively, as on M

arch 3'1,, 2018. For half year end.ed S

eptember

2019 and Fiscal 201.9, the B

ank's standalone net profit was {53.24 billion and t8.62 billion,

respectively, while the B

ank incurred net loss of <65. 47 billion in fiscal 2018. T

he Bank's

standalone operating profit in Fiscal 2018, 2019, and half-year ended S

eptember

2019 was {595.11

billion, t554.36 billion {314.45 billion respectively.

The G

roup's consolidated deposits, advances and total assets were { 22,538.58 billion, <

18,7025Ibillion and 130,734.83 billion, respectively, as on M

arch 37,2016; < 25,gg8.17billion, T

18,968.87billion and 7 34,451,.22bi11ion, respectively, as on M

arch 31, 2017; < 27,221.78 billion, <

19,601.19billion and 7 36,164.30 billioru respectively, as on M

arch 31,,2018 ;7 28,391.15 billion, < 19,949.71

billion and 7 36,701,.88 billion, respectively, as on Septem

ber 30,2018; < 29405.41. billion, <

22268.54billion and { 38884.67 billion, respectively, as on M

arch 31., 2019; < 30,643.07 billion, <

21,g113gbillion and {

39,088.28 billion, respectively, as on Septem

ber 30, 201.9; for half year endedS

eptember 2019 and fiscal 2019 2019 the G

roup's consolidated. net profit was 163.26 billion and

T23 billion, respectively. O

n consolidated basis, the Bank net profit of 763.26 billion in S

eptember

2019. While its consolidated O

perating profit in Fiscal 2016, 2017 , 2018, 2019 ancl for the S

ix month

ended Septem

ber 2019 was t561.07 billion, <

622.36 billion, <637.70 billion, <

600.20 billion, and{346. 01 billion respectively.

of L08

Private &

Confidential - N

ot for Circulation

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2. C

orporate Structure:

of 108

CG

I'I (Fnud

lvtoditoda€)

3. K

ey Operational and F

inancial Param

eters for the last 3 Audited years:

Key O

perational and Financial P

arameters of the B

ank for the last 3 Audited years and audited R

esults foryear ended 31.03.2019 on a standalone basis are as follow

s:

Private &

Confidential - N

ot for Circulation

Share C

apital

(Rs. in C

rores)

FY

20L8-19F

\ 2017-t8

Reserves &

Surplus

F\ 2016-17

892.45

Particulars

220,021.362,18,236.1,0

Net w

orth

Deposits

175,551.64

20,44,75',1,.39

Borrow

ings403,017.12

'1.,55,235.1,9

45,557.69

Other Liabilities &

Provisions

967,021,.95

1.5,77,078.38

Cash and B

alances with R

eserve Bank

of India

39,992.2542,918.92

Balances w

ith Banks and m

oney atcall and short notice

266,327.70

Contingent Liabilities

11.,62,020.69

Interest earned

Other Incom

e

Investments

35,460.92

Operating expenses

69,687.74

Advances

46,472.77

Provisions and contingencies

(including tax)54,573.80

Fixed A

ssets

Net P

rofit for the Period

Gross N

PA

(%)

7.53%

NetN

PA

(%)

3.01%

Other A

ssets

5.73%3.7"1%

CE

T 1 R

atio9.62%

Tier 2 C

apital Adequacy R

atio (Basel

ilr)(%)

2.07%

2,911,,386.01,

9.82%

Bills for C

ollection

892.46

1.45,597.30

1,,77,191,.19

176,932.42

27,06,343.29

Interest expended

3,62,'1,42.07

797.35

1,,87,488.71,

1,,67,139.09

1,,52,271,.77

2,1.85,876.92

'1.50,397.'t8

39,197.57

3,17,693.66

41.,501..46

1,0,60,986.72

1,,1'1,6,081.46

'1,9,34,880.19

1,,27,997.62

70,022.54

Tier I C

apital Adequacy R

atio (Basel

ilr) (%)

2,42,868.65

43,974.03

2,26,994.20

36,774.89

7,65,989.63

154,519.78

74,027.90

2,20,499.32

L,54,007.72

44,600.69

1.0,46,440.93

1,,45,645.60

862.23

65,640.42

59,943.45

'1,,75,51,9.24

66,058.41

L,13,658.50

-6,547.45

10.65%

10.91%

40,363.79

9.68%

10,484.10

1,0.36%

6.90%

2.24%2.76%

of 108

1035%

glu{t,{rlv

Key O

perational and Financial P

arameters of the B

ank for the last 3 Audited years and audited R

esults forY

ear ended on 31.03.2019 on a consolidated basis are as under(R

s.in Crores)

Param

eters

Share C

apital892.46

2,29,429.49

'1,85,523.09

Reserves &

Surplus

1.,70,657.55

29A0,il1,.06

27,?2,178.28

Net-w

orth

3,69,079.34

6,036.99

Deposib

6,480.65

Cash and B

alances with R

eserve

Bank of India

Borrow

ings

1,,77,362.741,,61,,018.61,

Other Liabilities &

ftovisions

Investrnents10,27,280.87

Minority lnterest

Advances

22,26,853.67

Private &

Confidential - N

ot for Circulation

19,60,118.5418,96,886.82

Fixed A

ssets50,940.74

FY

2m&

19

Other A

ssets


Balance w

ith Banks and m

oney atcall and short notice

1121,246.28

70,M7.23

74,060.22

Interest Eam

ed2,53,322.1,4

2,33,603.20

2,28,970.28

n,365.2177,557.39

Interest expended

1,8&893.35

146,602.98

Operating E

xpenses96,154.52

87,289.88

ftovisions and contingencies

Fy 2m

7:L8

56,950.5167,957.58

Share in P

rofit of Associates

281.47438.16

293.28

4,13,747.66

1,050.9L807.04

2299.63

7.43%10.85%

892.46

9.04%

CE

T 1 R

atio

2,93,645.69

9.78%9.86%

Tier I C

apital Adequacy R

atio

(BA

SE

L IID1078%

Bills for C

ollection

9.92%

F\2m

617

Other Lrcom

e (incl. exceptional

items)

7W.35

48,1,49.52

2,90,249.75

2,76,394.80

1L,19,247.n

4,61.5.24

E,99,910.66

1,,50,769.46

40,703.05

3,36,365.66

2,76,1,50.31

44,519.65

2,85,272.44

Share of M

inority

1'1,,83,794.24

Net faofit for the P

eriod

Gross N

PA

4L,22579

NetN

PA

2,36,016.99

1,12,178.54

11,,66,3:A.80

'1,,55,867.46

1,14,800.30

Tier 2 C

apital Adequacy R

atio

(BA

SE

L IID

L,96,815.98

11.,U,907.82

77,727.06

2,30447.10

68,193.17

2.W%

1.49,11.4.68

4,556.29

62,626.38

2.05%

5.69%

(338.62)

1053%

241.n

2.20%

5.15y"

10.41%

,s

of 108

{tui9

2.62%

YhR

Ocpt

Private &

Confidential - N

ot for Circqlalien

Total B

orrowing

(Rs. crores)

Particulars

Net-w

orth(R

s. crores)1",855,12.62

Borrow

ings / Equity R

atio*N

ote: No other change has been considered exceptfor

Size, N

et Worttr is based on unaudited balance sheet as on 30.09.2019. B

orrowings do not include

deposib and is based on unaudited balance sheet on 30.09.2019.The am

ount of bids accepted throughbidding on B

SE

EB

P plafform

is Rs. 3,313.60 crores and is considered as issuance of bonds.

4. P

roject cost and means of financing, in case of funding of new

projects

The funds being raised by the Issuer through present issue of B

onds are not meant for financing any

particular project. The B

ank shall utilize the proceeds of the issue for augmenting its A

dditional tier 1

and overall capital base and for the purpose of ib regular business activities & other associated

business oQectives.

Befor,e the issue of bonds

2,74,185.93

Gross D

ebt-Equity R

atio of the Bank (S

tandalone basis) as on 30.9.2019

1..48

1,855,1,2.62

1.50

increase in borrowing to the extent of the Issue

Page 25 of 108

Afterthe issue of bonds*

2,77,999.43

Private &

Confidential - N

ot for Circulation

C. B

rief History of the Issuer since its incorporation

Historyr

The origins of the S

tate Bank of India date back to the establishm

ent of the Bank of C

alcutta (later renamed the

Bank of B

engal) in 1806. The B

ank of Bom

bay was created in 1840 and the B

ank of Madras in 1843. T

hese threebanks catered m

ainly to the needs of the mercantile com

munity and pioneercd m

odem banking in hrctia. In

1876, the Governm

ent hansferred its shareholdjng in the tluee banks to private shareholders. How

ever, theG

overnment retained conholling pow

ers over the bank's functioning and corstitution.lnlgZl,

the three banksw

ere rnerged by an Act of the legislature

to form the Inrperial B

ank of India. On luly L,1955, the Im

perial Bank

of India was nationalized and the B

ank was constituted under the A

ct with the R

BI holcling 92T

o of its sharecapital. Inlune29,2007 R

BI transferred its holding in the B

ank to the Govem

ment of India.

The B

ank's original mandate w

as to spread banking facilities on a large scale and make credit m

ore reaclilyavailable in India, especially in rural and sem

i-urban areas. In compliance w

ith its mandate, it expanded its

network of 480 offices by opening over 400 new

branches within five years, and continued the rapid

expansion. Over the subsequent decades, the B

ank has become India's largest bank, w

ith 21,929 branches inIndta,228 intem

ational offices in 32 countries

as of Septem

ber 30,2019. Today, the B

ank competes in all m

ajorbanking sectors w

hile still fulfilling its original mandate.

1-. Details of S

hare Capital as on 30.09.20L9:

5000.00

Share C

apital

tC

hanges in the capital skucture (Authorized C

apital) of the Bank as on 30.09.2019, for the

last five years:

Authorized

Share C

apital

Date of C

hange

22.11.2014

*Note: U

nder

Am

ount (Rs. crores)

with R

eserve Bank of India increase or reduce the author2ed capital.

Issued Share C

apital

Subscribed S

hare Capital

Paid-up S

hare Capital

Am

ount (Rs. crores)

892.il

892.46

892.46

Particulars

Section 4 of the S

tate Bank of Inclia A

ct 1955, the Cenhal G

overnment m

ay in consulhtion

Y)q{

EI\{C

&D

eptP

age 27 of L08

Face value of equity shares of the B

ank was

reduced from R

s.10 per equity share to Re. 1 per

equity share vide resolution dated Septem

ber

24, 201,4, w.e.f. N

ovember 22, 2014. T

heauthorized share capital of the B

ank is 5,000.00crore shares of face value R

s. 1 each.

Private &

Confidential - N

ot for Circulation

Date of

Allotm

ent

3. E

quity Share C

apital History of the Issuer as on 30.09.2019 for the last five years:

lssue

Price

(Rs.)

Consideration(C

ash, other

than cash, etc.)

No. of

31..01.2019

Equity

Nature of

Allotm

entR

emarks

crores)C

rores)

24,000

Shares

Allotted

against

Right Issue,

2008 kept inabeyance

892,46,1L,5U

Face

Value

(Rs')

892.4679,115.47

27.03.201829,25,33,74'L

3A00

Allotted

against

Right Issue,

2008 kept inabeyance

863,20,53,793863.21

01.11.201770371..23

Allotted

against

Right Issue,

2008 keptinabeyance

52,21,,E3,211

1.00

1.00863.21

13,63,52,740O

ther than

Cash

Merger

810.99

159.00

55,423.23

21,07,27,400C

ash

72.06.2017

7W.35

55,4n.23

776.28

1.6.07.20"15

1.00

1.00756.52

Cash

01.04.2015

01..M.2017

10,M,77,012

1.00756.62

1.00

746,57,30,920

MA

jt.57

300.82

?2.11..2014

No. of E

quity

159.00

746.57

Shares

Cash

Cum

ulative

Cash

20.01..2017

Equity

Share

Capital

287.25

1.00

Preferential

Allohnent

Equity

Share

Prem

ium

29.09.2015

Cash

(Rs.

892.45,87,5y

(Rs.

19,65,59,390

Qualified

Institutions

Placem

ent

1.00

892.46

269.59

9,720

1.00

Allotted

against

Right Issue,

2008 keptinabeyance

863,20,50393

79,124.22

274.37

810,98,57,182

159

cash

Preferential

Allohnent

IJreferential

Allotm

ent

295.59

cash

70371..23

IleferentialA

llohnent

cash

797,35,04,M2

Qualified

InstitutionalP

lacement

Right issue

abeyance

2008 shares

776,U,77,042

Shares

issued on

merger of

SB

BJ,S

BM

,

SB

T and

Bharatiya

Mahilla

Bank

Preferential

Allotrnent

756,62,17,652

Reduction

of face

value ofshares from

756,62,07,932

49,769.63

f'referential

Allohnent to

Gol

M40172

Preferential

Alloknentto

GoI

Rightissue

abeyance

2008 shares

of L08

r\qr'gtu.g [ir1;ri

IleferentialA

lloknent toG

oI

Reduction of

face value of

shares fromR

s 10/- to

Rs 10/- to

Re.1/-

03.02.2014cash

Qualified

Institutional

Placem

entu.01.2014

74,65,73,09247,44.69

5,13,20436

"1,12,1,9,69510.00

20.03.2013

Preferential

Allotrnent

69,52,52,656fleferential

Allotunent to

GoI

10.00

129,99,69710.00

2312.78

'8.10.2012

Cash

6840,33,971

1565.00

31.,501,.20

Rights Issue

671.05

1782.74

31,.03.20123,60,45,243

2191.69P

referential

Allotrnent

67,10,M,939

671..04

604

436

63,49,99,595635.00

cash

Allotrnentagainst

Rights issue

2008keptin

Abeyance

06.01.2011876

1590.00C

ashR

ights Issue Private &

Confidential - N

ot for Circulation

6349,98,99l535.00

03.10.2011

Shares based

26.08.2010

10.00

1,,'1,4,606635.00

1590.00

ratio

/l4E.'s

10.00

19.05.2010855

1590.00R

ights Issue

Preferential

Allohnent

634.88

Cash

10.00

746.57

1590.00

Cash

695:25

10.00

Re.1/-

Cash

33489.98

67,10,45,274

Qualified

hTstihrtional

Placem

ent

584.03

Rights Issue

Preferential

Allohrrent to

GO

I

10.00

28,513.91

Alloknent

agairstR

ights issue

2008keptin

Abeyance

10.00

2&513.85

on the swap

IleferentialA

llotrnent to

GoI

20,658.68

10.00

Allotrnent

on Merger

20,658.59

Allotrnentagainst

Rights issue

2008keptin

Abeyance

Cash

Allohnent of

SB

I Shares to

shareholders

of State B

ank

of Indore at

Share

Exchange

ratio of34E

quigS

hares of the

Bank for

every 100

Equity

Shares of

State B

ank ofIndore held

20,558.M

63,49,93,509

t{tqr \s

,1tu..' Ct

,l'

of 108

20,659.44

Allotrnentagainst

Rights issue

Private &

Confidential - N

ot for Circulation

5.

There has not been any reorganization or reconskuction in the last 1 year

D. D

etails of shareholding of the Issuer as on 30.09.20L9

Tytrre of E

vent

Notes: L) T

here are no Preference S

hares (Cum

ulative/Non-C

umulative)

2) The C

enkal Board of the B

ank has approved equity capital raising up to Rs 20,000 crores till 31st M

arch2020D

etails of any Acquisition or A

malgam

ation in the last L year:

There has not been any acquisition or am

algamation

in the last 1 year

Details of any R

eorganization or Reconstruction in the last 1year:

013%

4.83%

2008kept inA

beyance

Date of A

nnouncement

Details

'1,. Shareholding pattern of the lssuer as on 30.09.2019:

Category of S

hareholder(A

) Shareholding of P

romoter and P

romoter

Group

Total N

o. ofS

hares

Central G

overnment / S

tate Governm

ent(s)

(1) Indian

Sub T

otal5,09,89,92,979

57.13%

Date of C

ompletion

5,09,88,82,979

54,77,065

(2) Foreign

32,45,L27

Total shareholding

of Prom

oter and Prom

oterG

roup (A)

93,1,6,06,1,59

1,0.69%

Alternate Investm

ent Funds

1.,1.9,1,8,692

(B) P

ublic Shareholding

3,10,37,59,5353,10,12,97,735

(1) Institutions

(2) Non-Institutions

Mutual F

unds / UT

I

6,20,23,737

Financial Institutions / B

anks

Central G

overnment / S

tate Governm

ent(s)

Insurance Com

panies

Foreign P

ortfolio Investors

Sub T

otal

Total N

o. ofS

hares held inD

ematerializedF

orrn

Bodies C

orporate

5,09,89,92,979

Individuals

h-rdividual shareholders holding nominal share

Total

Shareholdingas ao/o of

Total N

o. ofS

hares

5,09,88,82,979

5,09,88,82,979

'1,19,64,24,026

5,09,88,82,979

44,64,707

95,38,68,997

57.1.3%

1,1,9,6L,6g,726

'1,,19,'1,8,692

54,77,065

57.131t/o

93,1,5,94,659

95,28,93,467

43,14,98,778

13.41.%

0.06%

6,'1,1,,07,872

10.44%

0.05%

35,70,18,075

4.

of 108

34.79tl/,,

0.69%

Private &

Confidential - N

ot for Circulation

L. D

etails of the current Directors of the B

ank:

Sr.

no.

Nam

e,D

esignation andD

IN

1

Shri. R

ajnishK

unur,

Chairm

an

DIN

:05328267

Age

brs)

No.5, D

unedin,J.M

.Mehta

Road,

Mum

bai - 400 006

26.05.2015

(Appointed

as

Chairm

ansince

07.10.201n

2.

Shri. P

. K. G

upta,

Managing

Director

DIN

:02895343

Address

M-1, K

inellan Tow

ers,1004, N

apean Sea

Road, M

umbai -

400005

Shri D

ineshK

umar K

hara,

Managing

Director

DIN

:06737041

61

4.

Shri A

rijitBasq

Managing

Director

Director of

the Bank

since

Details of other directorships

(Status as on 22.08.2019)

58 59

1,. SB

I Life InsuranceC

ompany Ltd.

2. S

BI F

oundation3.

SB

I Capital M

arkets Ltd.4.

SB

I Cards &

Paym

entS

ervices P. Ltd.

5. S

BI G

eneral InsuranceC

ompany Ltd.

6. E

xport-Import B

ank ofIndia

7. E

CG

C Ltd

(S. N

o. L to 4 as Chairm

an andS

. No. 5 to 7 as D

irector)

02.11.20',1.5

D-11, K

inellanT

owers,

1004, Napean S

eaR

oad,M

umbai - 400 005

L. SB

I Foundation

2. SB

I Life Insurance Co. Ltd.

3. SB

I General krsurance C

o.Ltd.

1. SB

I Capital M

arkeb Ltd.2. S

BI C

ap Securities P

. Ltd3.S

BIC

AP

Ventures Ltd.

4. SB

ICA

P (U

K) Lrd.

5. SB

ICA

P (S

ingapore) Ltd.6. S

BI C

ards & P

ayments

Services P

vt. Ltd.7. S

BI D

FH

I Ltd.8. S

BI F

unds Managem

ent P

vt.Ltd.9. S

BI G

eneral Insurance Co.

Ltd.10. S

BI G

lobal Factors Ltd.

11. SB

I Life Insurance Co. Ltd.

12. SB

I Pension F

unds Pvt. Ltd.

13. SB

IFoundation

14. SB

I Infra Managem

entPvt.

Ltd.

09.08.2016

$

D-10, K

inellan Tow

ers,1004, N

apean Sea

Road,

Mum

bai - 400 006

IND

IA E

XC

EL (O

FF

SH

OR

E) F

UN

D

E. D

etails regarding the Directors of the Issuer (as on 30.09.2019)

qfui.;

&D

ept.

*P

age 32 of 108

25.06.2018N

IL

Private &

Confidential - N

ot for Circulation

DIN

:06907779

26.06.2014#

Shri. S

anjivM

alhoha,

Shareholder

Director

DIN

:0335955

1. KotakA

MC

2. Fairfirst Insurance Lim

ited(S

ri Lanka)3 P

ratham E

ducationF

oundation.

5.M

arg, Churchgate,

Shri B

haskarP

ramanik,

Shareholder

Dkector

DIN

:00315650

Mum

bai 400 020

6.

01PH

E, S

kycourt,Laburnum

, Sushant

Lok, Sector 28,

Gurgoan,122002

7

130 Maharishi K

arve6 M

otabhoy Mansion,

Shri B

asantSettr,

Shareholder

Director

DIN

:02798529

68

1., Oval V

iew, M

aharishiK

arve Marg,

Churchgate,

Mum

bai400020

Shareholder

Director

DIN

: 0263857

07.06.20181. N

ational Com

modities &

Derivatives E

xchange Ltd.

9.

Dr. G

irish Kum

arA

hujaN

ominee

Director by G

oI

DIN

:00446339

28.01,.201,6*

68

28.01..201,6*

Shri B

. Venugopal

8.

Nom

inee01,.02.2018

Nil

Director by G

oID

IN:N

ot Allotted

67

Special S

ecretary,F

inancial Services, 3rd

floor, Jeevan Deep

Building, P

arliament

Sheet, N

ew D

elhi-110001

Nom

ineeD

irector by GoI

DIN

- 06507252

Flat N

o. 304, Kalpana

Tow

er,3/1,6V

ishnupuri, Kanpur -

208002

591. G

IC

26.06.2017

62 60

Dr. P

ushpendraR

aiN

ominee

Director by G

olD

IN:07506230

10.

1. TC

NS

Clothing C

ompany

73

26.06.2017

1.. Roto P

umps Ltd.

2. Account S

core India Pvt.

Ltd.M

ulti Com

modity

Exchange of

IndiaLtd. (MC

X)

A-53, K

ailash Colony,

Dr. P

urnima

11.

Gupta,

New

Delhi - 110 048

6650 P

aschimi M

arg,V

asantVihar,

New

Delhi -110057

Shri R

avi Mital,

12.

69

A-1/2, P

anchsheelE

nclave, New

Delhi -

11.0 017

1. Flair P

ublications P. Ltd.

2. Am

ber Enterprise India

Ltd.4. D

evyani International Ltd5. R

J Corp Lim

ited

Shri

Sinha

RB

I13.

Chandan

Nom

inee

Nil

Flat N

o. 1.801., Tow

er-4(S

trata), Planet

Godrej, N

ear Jacob

08.08.2019

28.09.2016N

il

of 108

*qvE

TU

V&pt.

Director

DIN

- 06921244

Note: N

one of the cr.rrent Directors of the B

ank appear in the RB

I's Defaulters' List or E

CG

C's D

efault List$ T

enn extenclecl w.e.f. 9d' A

ugust 2019 for further periocl of 2 years# R

e-appointed on the Board w

.e.f. 26d, June 2017 for fruther period of 3 years* R

e-appointed on the B

oard w.e.f. 6u' F

ebruary 2019 for further period of 1 years

Circle, 30, K

eshavrao

Khadye M

arg,M

ahalaxmi (E

),

Mum

bai - 400 011

2. D

etails of change in Directors since last three years:

Nam

e, Designation

and DIN

Private &

Confidential - N

ot for Circulation

Shri D

eepak I. Am

iruIndependent D

irector(A

ppointed by Shareholders)

DIN

:01289453

Shri S

unil Mehta

Independent Director

(Appointed by S

hareholders)D

IN:00065343

Shri M

.D. M

allya,Independent D

irector(A


DIN

:01804955

App o in tm

e ntlRe si gn

e d/D

ate of

Term

Ended

Shri S

anjiv Malhotra,


(Appointed by S

hareholders)

DIN

:03435955

25.06.2017

Director of the

Bank since (in

case ofC

essatiory'

Resignation)

Shri S

anjiv Malhotra,


(Appointed by S

hareholders)

DIN

:03435955

15.03.2017

Shri B

haskar Ram

anik,Independent D

irector(A


DIN

: 00316650

26.06.20'1,4

25.06.2017

Shri B

asant Seth,


(Appointed by S

hareholders)

DIN

:02798529

Reasons/ R

emarks

26.06.2014

Com

pletion of term

25.06.2017

Shri t'ravin K

utumbe,


(Appointed by S

hareholders)

DIN

:01629256

26.06.2014

Resigned from

the Board

26.06.2077

26.06.201.4

Com

pletion of term

26.06.2017

Com

pleted one term from

26.6.2014 to 25.06.2017 andR

e-elected as Shareholder

Director fr orn 26.06.2017

26.06.2017

Re-elected as S

hareholder

Director u/s 19(c) of S

BI

Act, 1955

26.06.2017

Etug

*&

Elected as

Shareholder


BI

Act,1.955

of 108

Elected as S

hareholder


BI

Act,1.955

Elected as

Shareholder


BI

Act, 1955

*

Private &

Confidential - N

ot for Circulation

Ms. A

njuly Chib D

uggal,G

OI N

ominee D

irectorD

IN:05264033

Shri R

ajiv Kum

ar,

GO

I Nom

inee Director

DIN

: 0008049596

Shri R

avi Mital S

pecialS

ecretary, F

inancialS

ervices nominated in

place of Shri R

ajiv Kum

aru/s 19(e) of S

BI A

ct.S

mt. A

rundhati Bhattcharya,

Chairm

anD

IN:02011213

07.10.2013

Shri R

ajnish Kum

ar,M

anaging Director

DIN

:0532825706."r0.2017

Consequent

uponappointm

ent as Chairm

anunder S

ectionl9(a) and 20(1) of S

BI A

ctS

hri Rajnish K

umar,

31.08.2017

Chairm

anD

IN:05328267

01..02.201.8

Shri P

ravin Hari K

utumbe


(Appointed by S

hareholders)

DIN

:01629256

07.08.2019

Dr.P

urnima G

uptaP

art-time N

on-official Director

(Nom

inated by GO

I)

07.06.201,8

03.09.2015

25.06.20\8

06.1.0.2017

07.09.20\8

12.09.2017

Attained S

uperannuationfrom

CO

I

Shri B

Venugopal


DIN

:02638597

07.1"0.2017

26.05.2015

Com

pletion of term

Shri A

rijit Basu

Managing D

irectorD

IN:06907779

08.03.2018

Appointed as C

hairman

under Section 19(a) and

20(1) of SB

I Act

Shd B

. Sriram

,M

anaging Director

DIN

:02993708

Nom

inated by C

enhalG

ovt. u/s 19(d) of SB

I Act,

1955 for a period of 3 yearsor until further ordersw

hichever is earlier

26.06.2017

Sm

t. Anshula K

antM

anaging Director

Resigned from

the Board

Elected as

Shareholder


BI

Act, 1955 for the unexpired

portion of the term of S

hriK

utumbe i.e. upto 25tl'June

2020

29.06.2018

Appointed by the C

enhal

Governm

ent under

Sectionl9(b) and 20(1) of

SB

I Act w

ith effect fromdate of taking over chargeof the post and till the dateof his attaining the age ofsuperannuation

i.e.

31..1,0.2020 or until furtherorders, w

hichever is earlier

17.07.2014

Resigned

pursuant

retirement

Appointed by the C

entral

from

Board

to voluntary

Governm

ent

rl

of 108

under

Private &

Confidential - N

ot for Circulation

DIN

:06998644

Re-A

ppointed by the

Central G

overnment under

Sectionl9(d) of S

BI A

ct

08.08.2019

Dr. P

ushpendra R

aiIndependent D

irector,N

ominated by G

OI

DIN

0007506230

DIN

:06737041

07.09.20L8

Dr. G

irish Kum

ar Ahuja

Independent Director,

Nom

inated by GO

ID

IN 00446339

F. D

etails regarding Auditors of the Issuer:

l. D

etails of the cunent auditors of the Issuer:

Shri R

avi Mital

Nom

inee Director by G

oID

IN - 06507252

09.08.201.6

Sr.

No.

09.08.2019

Com

pletion of first Term

of 3 years. Extension of

term by

the C

entralG

overnment

underS

ectionl9(b) and 20(1) ofS

BI A

ct for a further periodof 2 years w

.e.f. 09.08.2019or until further orders,w

hichever is earlier

1

Nam

e

M/s. C

haturvedi & S

hah

FR

N. N

o.101720 W

31.08.2019

Extension of term

by theC

entral Governm

ent underS

ectionl9(b) and 20(1) ofS

BI A

ct for a further periodof 2 years w

.e.f. 09.08.2019or until further orders,w

hichever is earlier

Shri D

inesh Kum

ar Khara

06.02.2019

Managing D

irector

Sectionl9@

) and 20(1) ofS

BI A

ct with effect from

date of taking over chargeof the post and till the dateof her attaining the age ofsuperannuation

i.e.

30.09.2020 or until furtherorders, w

hichever is earlier

06.02.201,9

Shri D

inesh Kum

ar Khara

Managing D

irectorD

IN:06737041

Re-A

ppointed by the

Central G

overnment under

Sectionl9(d) of S

BI A

ct

Sm

t. Anshula K

antM

anaging Director

DIN

:06998644

08.08.2019

Nom

inated by C

entralG

ovt. under Section 19 (e)

of SB

I Act in place of S

hri

Rajiv K

umar.

Address

7 1L7 15 T ulsixi C

hambers 212,

Free P

ress Joumal M

arg Narim

an poirif-=_

&

Dept.

of 108

Resigned from

the Bank

Rlq{

Auditor since

4Ir.9

Decenrber

2017

2

Em

ail vitesh. [email protected]

M/s R

ay & R

ay

FR

N: 301072 E

JM

/sSK

Mittal&

Co.

FR

N: 001135 N

Mum

bai- 400021.T

el +91-02240218500

4

Decenrber 2017

Door N

O. 10-50-19 / 4S

oudamani

Siripuram

,

Visakhapahram

- 530003.

TeL +

91 -0891 -27 55327 F ax: +

91 -0891 -273855 4

Em

ail - contact@raoandkum

ar.com

WE

BE

L Bhaw

an Ground F

loor

Block E

P &

GR

Bidhan N

agar Sector V

Salt Lake, K

olkata 700091

Tel-03340648107 / 8108 / 8109

E m

ail- rayuay@vsnl.

com

M/s R

ao & K

umar

FR

N:0030891

Decem

ber 2016

5

Private &

Confidential - N

ot for Circulation

Decem

ber 2016

M/s B

rahmayya &

Co.

FR

N:0005115

4L /3&m

,First F

loor, Blue B

ird Tow

ers,

Itovidence Road,K

ochi- 682018, K

erala

Tel:M

84?396571,

E-29, S

outh Extension P

artllN

ew D

elhi 110049

E m

ail- skmittalca@

yahoo.co.in

T el- 011-26258517 / 41,64069

7 6

No. 22, V

.Krishnasw

amy A

venue,

Mylapore

Chennai- 600004, T

amil N

aduT

eLAM

24991569

Decem

ber 2018

M/s. K

Venkatachalam

Aiyer

& C

o., FR

N: 004610 S

830? A

tankar Point, G

eeta Bhaw

an,

Square, A

. B. R

oad,

Indore- 452001, Madhya P

radesh

Tel:07312492877

M/s.N

CR

ajagopal&C

o.,F

RN

:2304483

"No.48 M

asilamani R

oad, Balaji N

agar,

Royapettah, C

hennai

Tel N

o.04428131128/38/48, and F

ax no.&14

28131158,

Em

ail : mail@

brahmayya.com

10

M/s.O

PT

otla&C

o.,F

RN

: 000734 C

FR

N:1M

863W

Decernber 2017

9

M/s. G

PA

grawal&

Co.,

FR

N: 302082 E

M/s.S

KK

apoor&C

o.,F

RN

: 000745 C

M/s. K

amavat &

Co.,

11

FR

N:001111N

M/s. K

alani& C

o,

FR

N:000722C

12

1.6/98,LIC B

uilding,

The M

all,

Kanpur- 208001, U

ttar ltadesh

Tel:915122372244

13

2A, K

itab Mahal

19e DR

. D.N

.RO

AD

,

Fort M

umbai- 400001, M

aharashtra

Decem

ber 2018

M/s.JC

Bhalla&

Co

703 VII F

loor, Milestone B

uilding,G

andhi Nagar C

rossing, Tonk R

oad,jaipur- 302015, R

ajasthan

7-A K

iran Shankar R

ay Road,

2nd Floor,

Kolkata- 700001, W

est Bengal

TeL 03322483941,

Decem

ber 2018

B-17, M

aharani Bagh,

New

Delhi- 110065, D

elhi

Decem

ber 2018

Decem

ber 2018

Decem

ber 2018

Decem

ber 2018

Decem

ber 2018

grug

Shares

&*

of L08

l)qv*

14

Private &

Confidential - N

ot for Circulation

Decem

ber 2018

2. D

etails of the change in auditors since last three years:

Nam

eA

ddress

Bikaner B

uildings, 1st F

loor,

8/B,LalT

bazar 9frret,K

olkata- 700001, W

est Bengal

Auditor of

the Bank

Since (in case

ofR

esignationy'

Cessation)

K V

enkatachalam

Aiyer &

Co.,

Decem

ber 2018N

C R

ajagopal &C

o.,

41/36478, First F

loor, Blue

Bird T

owers, P

rovidence

Road, K

ochi- 68201.8,K

erala

OP

Totla&

Co.,

No.22, V

.Krishnasw

amy

Avenue, M

ylapore, -

Chennai- 600004, T

amil

Nadu

SK

Kapoor&

Co

Date of A

ppointment/

Date of

Resignatiory'C

essation

703 VII F

loor, Milestone

Building, G

andhiNagar

Crossing, T

onk Road, Jaipur-

302015, Rajasthan

302, Alankar P

oint, Geeta

Bhaw

an, Square, A

. B.

Road, Indore-452001,,

Madhya P

radesh

Kam

avat& C

o.

JCB

halla&C

o

Decem

ber 2018

Sen

M/s. C

haturvedi &S

hah

1,6/98, LIC B

uilding, The

Mall, K

anpur- 208001, Uttar

Pradesh

Kalani &

Co

2A, K

ITA

B M

AH

AL,192,

DR

. D.N

.RO

AD

,FO

RT

,M

UM

BA

I-4OO

OO

1,

Maharashtra

GP

Agraw

al&C

o

Decem

ber 2018

Rem

arks

De C

hakraborly &

Decem

ber 2018

7-A K

iran Shankar R

ay Road,

2nd Floor, K

olkata- 700001,

WE

ST

BE

NG

AL

Decem

ber 2018

B-12 M

aharani Bagtu N

ewD

elhi- 110065, DE

LHI

Bikaner B

uildings, 1st

Floor, 8f B

,LallbazarS

keet Kolkata- 700001, W

est

Bengal

Decernber 2018

71-+715

T ulsieuri C

hambers

212,Free P

ress Joumal M

argN

ariman

Decem

ber 2018

M/s. D

e Chakraborty &

Sen

FR

N:303029 E

Decem

ber 2018

Decem

ber 2018

of 108

Mum

bai-400D

ecember 2017

Private &

Confidential - N

ot for Circulation

M/s R

ay & R

ayD

ecember 2017

M/s R

ao & K

umar

M/sS

K M

ittal &C

o.

Decem

ber 2016

Co.

021

M/s. C

hatterjee &C

o.

Com

pletedS

tipulated Term

s

M/s. V

arma &

Varm

a

WE

BE

L Bhaw

anGround

Floor B

lock EP

& G

P, B

idhan

Nagar S

ector VS

alt Lake, Kolkata 700091

Bldg N

o. 53/333A, B

, C &

D,

OffS

ubhash Chandra B

ose

Roacf (O

pp. Reliance F

resh

Shop)

Vyttila P

O K

ochi - 682019.

Decem

ber

2015

4-6, Maharani B

agh,

New

Delhi - 110065

M/s B

rahmayya &

E-29, S

outh Exterlsion P

art-ll

New

Delhi 110049

Decem

ber 2018

Decem

ber 2018

Rao &

Co

5-D, F

ifth floor,"Kautjlya"

,

G3-652, S

omajiguda,

Hyderabad - 500082.

Decem

ber

2015

Door N

O.1U

5U19/4

Soudam

ani Siripuram

,

Visakhapatram

- 530003.

Decem

ber 2018

218, T.T

.K. R

oad, Alw

arpet,

M/s. M

anubhai &S

hah LLP

No.48 M

asilamani R

oad,

Balaji N

agar, Royapettah,

Chennai

Chennai - 600018.

Decem

ber -15

153, Rash B

ehari Avenue,

3rd Floor, K

olkata -700029.

Decem

ber 2017

2nd Floor, B

Wing P

remium

House,

NearG

andhigramR

ly.

Statioru N

awangpura,

Ahm

edabad - 380009

M/s. B

ansal & C

o.

LLP

Decem

ber 2016

M/s. M

ittalGupta

&C

ompany

Decem

ber 20L8

M/s. M

. Bhaskara

Decem

ber 2018

M/s. A

nrit Ray &

Co.

14-RatanM

ahal,

15/197 CivtlI-nes,

Kanpur - 208001

Decem

ber

2015

Decem

ber 2018

M/s.S

LChhajed&

Co.

Decem

ber

2015

M/s. G

SA

&A

ssociates

5-8, Sardar P

atel Marg

Allahabad - 211001

Com

pletedS

tipulated Term

s

R-12 M

aharana Pratap

Nagar,

Zone - I, B

hopal - 462011,

M/s, S

.Venkatram

& C

o.,

M/s

16, DD

A F

lab, Ground F

loor,

Panchsheel-S

hivalikMor,

NearM

alviya Nagar, N

ew

Delhi - 110017

Decem

ber 2018

Decem

ber

2015

Com

pletedS

tipulated Term

s

Decem

ber 2018

Decem

ber

2015

91L-912, 9th Floor, N

aurang

Com

pletedS

tipulated Term

s

Decem

ber

2015

Com

pleted

Stipulated T

erms

Decem

ber 2018

Com

pletedS

tipulated Term

s

Decem

ber

2015

Decem

ber -15

Com

pletedS

tipulated Term

s

Decem

ber

2015

Com

pleted

Stipulated T

erms

Decem

ber

2012

Com

pletedS

tipulated Term

s

Decem

ber

of 108

Com

pletedS

tipulated Term

s

Com

pleted

Private &

Confidential - N

ot for Circulation

Dham

ijaSukhija &

Co

Delhi - 110001

Decem

ber -15

Decem

ber

2012

M/sT

RC

hadha&C

o.

Decem

ber -15D

ecember

2012

M/sK

BS

harma&

Co.

Com

pletedS

tipulated Term

s

M/sS

NN

anda&C

o.D

ecember -15

House, 2L, K

.G.M

arg, New

M/s S

Jaykishan

Decem

ber

2012

15/198-A, C

ivil Lines,K

anpur- 208001.D

ecember -'15

Decem

ber -15D

ecember

2012

30, Connaught P

lace,

Kuthalia B

uilding, New

Delhi- 110001.

March 2015

Com

pletedS

tipulated Term

s

M/s

Sriram

amurthy &

Co.

&C

o.1-8, O

ld Post O

ffice Street

Kolkata - 700 001.

172-P / 3, T

rikuta Nagar,

Jarnmu -180012.

72,Ho C

hi Minh S

arani,

Suite N

o. 2D,2E

E 2F

,K

olkata: 700071..

&C

o.

March 2015

Decem

ber

2012

Flat N

o.3C, S

ai Sadan

Apartm

ents, 47 -9-39 / 17,D

warakanagar,

Visakhapatnam

- 530 016.

M/sV

PA

ditya&

M/s M

ehra Goel &

Decem

ber -15

co.

"Dheeyesh", #41./1., ilI C

ross

Kum

ara Park,

West, B

angalore - 560 020.D

ecember 2016

M/s P

rakash &S

antosh

Borrow

ings as on 30.09.2019 (Rs. crores):

Com

pletedS

tipulated Term

s

C 43, P

amposh E

nclave,

Greater K

ailash -I, New

Delhi 110 048

Decem

ber -15

'l.,. Details of Loan F

acilities:

M/s B

Chhaw

chharia &C

o.

2012

Rolland C

omplex, F

lat No.8,

Upper F

loor, Westcott

building, 37 / 17, The M

all,K

anpur - 208 001.

M/s S

N M

ukherji

Decem

ber

2012

Decem

ber -15

M/s V

SankarA

iyar

Stipulated T

erms

8A 88, S

atyam T

owers,3,

Alipore R

oad, Kolkata - 700

027.

Com

pleted

Stipulated T

erms

M/s A

dd Associates

Com

pleted

Stipulated T

erms

2-9 CourtC

hambers,35,

New

Marine Lines, M

umbai -

400020.

Decem

ber

2012

Co.

9,LalBazar S

keet,

Mercantile B

uilding, 3rdF

loor, Block-A

, Kolkata-

700001

M/sS

RR

KS

harma A

ssociates

Com

pletedS

tipulated Term

s

Decem

ber

2012

505, Chiranjiv T

ower, 43

Nehru P

lace,

New

Delhi - 110019

March 2015

Com

pletedS

tipulated Term

s

G. D

etails of Bonow

ings of the Issuer as on 30.09.2019

March 2015

Com

pletedS

tipulated Term

s

Decem

ber

2017

Decem

ber

2017

Decem

ber

2017

Com

pletedS

tipulated Term

s

Com

pletedS

tipulated Term

s

Decem

ber

2013

Due to som

e

Technical Issues

Decem

ber

2013

of 108

Com

pletedS

tipulated Term

s

Com

pletedS

tipulated Term

s

Qept.

b. Subordinated D

ebt

I. Borrow

ings in India

2. D

etails of Deposits as on 30.09.2019:

(i) Reserve B

ank of India

Secured borrow

ings included in I & II above

Sr. no.I.

TO

TA

L

GR

AN

D T

OT

AL

l.

21,257.10

u.

32,006.74

il.

Dem

and Deposits

53,263.84

L

From

Banks

l.

From

Others

7,827.76

Savinqs B

ank Deposits

11.

Term

Deposits

Particulars

From

Banks

2,126.25

From

Others

5L,09L.00

2,1,0,968.59

Deposits of B

ranches in India

Deposits of B

ranches outside India

3. D

etails of Bonds:

2,126.25

l.

2,73,094.93

i. F

oreign Currency Issuances as on 30.09.201.9:

Total

Debenture

series(IS

IN)

2,74,185.83

Am

ount (Rs. crores)

4,528.66

(ii) Other B

anks

1.,93,023.45

(iii) Other Institutions and A

gencies

5,855.29

(iv) Capital Instrum

ents

a. Innovative Perpetual D

ebt Instruments (IP

DI)

94,64',t.34

Total

II. Borrow

ings outside India(i) B

orrowings and R

efinance outside India

(ii) Capital Instrum

ents

a. Innovative Perpetual D

ebt Instruments (IP

DI)

Private &

ConJidential - N

ot for Circulation

TO

TA

L

coupon

10,883.27

Tenor/

period ofm

aturitv

11.,36,663.81.

1,6,93,324.58

30,33,395.79

Am

ountO

utstandingIn U

S$ M

io

29,38,754.45

Date of

allotment

Credit

Ratins

Secured/

unsecuredC

utrency

**

gilP

age 41 of 108

30,33,395.79

Redem

ption on date/schedule

iilugS

hares

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24-Ian-22

22-Sep-1,6

5024-D

ec-l4

27-Mar-15

27-Mar-20

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B-

3.25850

24-lan-22

06-Apr-17

30-Tul-18

65028-S

ep-18

3 Years

3M Libor

+100

8031.-M

ay-1,9

5.50

ii. D

omestic U

nsecured Bond Issuances as on 90.09.2019

Sr.

No.

Nafure

Bonds

ISIN

1IN

E648A

09078

2B

asel III Tier

II

24-Ian-1,9

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+85

24-Ian-1,9

300

17-Apr-24

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100

4.35

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4.5

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ER

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20-lul-18

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300

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20.03.201.220.03.202

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19 Series I

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erpetual04.12.2018

Perpetual

31P

erpetual21,.1220L8

Basel III A

T 1

Bonds 201,8-

19 Series II

Perpetual

rNE

062A08199

INE

062408173

Perpetual

INE

0624'08207

32

7.99

34

Basel III A

T 1

Bonds 2018-

L9 Series III

Basel III A

T 1

Bonds 2019-

20 Series I

INE

052A08215

INE

062A08181

Perpetual

30.08.2024

33

AR

MY

GR

OU

P IN

SU

RA

NC

E F

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21.12.2023

CR

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AA

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tablelrcR

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+(hyb)" w

ithstable outlook

Perpetual

22.03.2024

28.06.20228.O

5.2024

CR

ISIL

AA

A/S

table" byC

RIS

IL Ltd andIN

D

AA

A/

Stable by India

ratings &

Research P

vtLtd.

9

Perpetual

31.04.

8030.08.2019

CB

T E

PF

-11-B-D

M

5

5000

Sr.no.

28.06.201.9

1.

8.75

,3

LIFE

INS

UR

AN

CE

CO

RP

OR

AT

ION

OF

IND

IA P

& G

S F

UN

D

CR

ISIL

AA

+/S

tablelrcR

Al

AA

+(hyb)" w

ithstable outlook

4

ICIC

I PR

UD

EN

TIA

L BA

NK

ING

& P

SU

DE

BT

FU

ND

HD

FC

TR

US

TE

E C

OM

PA

NY

LTD

A/C

HD

FC

FLO

AT

ING

RA

TE

DE

BT

FU

ND

Nam

e of Bondholder

NP

S T

RU

ST

- A/C

KO

TA

K P

EN

SIO

N F

UN

D S

CH

EM

E C

- TIE

R

II

6

Basel

IIIcom

pliantT

ier 2 Bonds.

9.564021

9.372045

9.45L251..30

1.20

SB

I SH

OR

T T

ER

M D

EB

T F

UN

D

04.1.2.2023

22.03.2019

CR

ISIL

AA

+/S

tablelrcR

Al

AA

+(hyb)" w

ithstable outlook

4. List of top L0 B

ondholders as on 30.09.20192

78IT

C LIM

ITE

D

CR

ISIL

AA

+/S

tableby C

RIS

IL Ltdand[IC

RA

]AA

+(hyb) by IC

RA

Ltd.

Am

ount (Rs. In

crores)

9274.782

7441..321,

3958.5

D€pt.

1415

of 108

3906.7

27M.05

1955.03

1,634

r)qterus flrthares, &

'

9L0

AD

ITY

A B

IRLA

SU

N LIF

E T

RU

ST

EE

PR

IVA

TE

LIMIT

ED

A/C

AD

ITY

A B

IRLA

SU

N LIF

E R

ET

IRE

ME

NT

F

UN

D T

HE

5OS

PLU

S - D

EB

T P

LAN

Note: T

op 10 holders' of bonds as on 30.09.2019 aggregated based on P

AN

have been shown on a cum

ulative

basis for all outstanding bonds

5. T

he amount of corporate B

uarantee issued by the Issuer along with nam

e of the counterparty(including S

ubsidiaries, joint Ventures, G

roup Com

panies, etc.) on behalf of whom

it hasbeen issued

RE

LIAN

CE

CA

PIT

AL T

RU

ST

EE

CO

LTD

.A/C

RE

LIAN

CE

BA

LAN

CE

D A

DV

AN

TA

GE

FU

ND

Private &

Confidential - N

ot for Circulation

794.5

There are no corporate guarantees

issued by the Bank to counterparties including the B

ank's

subsidiaries, joint ventures, group companies etc.; except N

on Fund based lim

its in the form of B

ank

Guarantees, during the course of B

ank's business operations.

6. D

etails of Certificates of D

eposit outstanding as on 30.09.2019:

11.41.7

The B

ank has not issued any hybrid debt like Foreign C

urrenry Convertible B

onds (FC

CB

s),

optionally Convertible B

onds /Debentures

(OC

Bs) / Ileference S

hares etc.

7. D

etails of Rest of the borow

ings (including hybrid debt like FC

CB

, Optionally C

onvertibleB

ondsfPreference S

hares) as on 30.09.2019:

Maturity D

ateA

mount O

utstanding

Nil

Nil

8.D

etails of all default (s ) and/or delay (s ) in payments of interest and principal of any kind

of term loans , debt securities and other financial indebtedness including corporate

guarantee issued by the issuer, in the past five years;

Details of any outstanding bonow

ings takery' debt securities issued w

here taken / issued (i)for consideration

other than cash, whether in w

hole or part, (ii) at a premium

or discount, or(iii) in pursuance of an option:

The B

ank confirrns that other than and to the extent mentioned elsew

here in this D

isclosure

Docum

ent, it has not issued any debt securities or agreed to issue any debt securities or availedany borrow

ings for a consideration other than cash, w

hether in whole or in part at a prem

ium or

AIr(gfu{

I'

There has been no default (s) and / ot delay (s) in paym

enb of interest and principal of any kind ofterm

loans, debt securities and other financial indebtedness including corporate guarantee issued bythe B

ank, in the past five yeEus.

''' ' '1rl'

9.

discount or in pursuance of an option since inception.

)-

Page 45 of 108

'1.. Details of the P

romoter H

olding in the Bank as on 30.09.2019:

Sr.no.

Nam

e of theshareholders

1R

esidentof India

No. of

shares

pledged

Total no. of

equrty shares

Private &

Confidential - N

ot for Circulation

5,09,99,92,979

No. of shares

in dematform

5,09,88,82,979

Total

shareholdingasoA

of total no. ofequity shares

57.13

06 of sharespledgedw

ithrespectto

sharcs owned

H. D

etails of promoters of the Issuer

Nil*

iilo-g&

of108

Nil

Particulars

As on

3t.03.2077

CA

PIT

AL A

ND

LIAB

ILITIE

S

Capital

g,g24,5gg

Reserves &

Surplus

7,973,504

Private &

Confidential - N

ot for Circulation

1,,874,887,122

Borrow

ings

Deposits

Other Liabilities and P

rovisions

20,447,513,947

As on

3't.03.2019

AS

SE

TS

1.,671.,380,768

Cash and B

alances with R

eserve

Bank of India

1,,552,351,,885

TO

TA

L

As on

31.03.2018

8,924,612

2,200,2\3,633

1,279,976,177

Balances w

ith Banks and m

oney at

29,1,13,860,1,07

call and short notice

Rs. In thousands

Investments

4,030,171,1,82

Advances

Fixed A

ssets

2,1,82,361,,015

399,922,511429,1.89,179

Other A

ssets

1,455,972,955

2,269,941.,995

27,063,432,850

TO

TA

L

36,809,'1,42,489

27,059,663,041

3,621,,420,745

Bills for C

ollection700,225,397

L,769,324,175


u,547,519,966

455,576,940

3,176,936,583

9,670,2\9,475

1",503,971,814

21,,858,769,177

27,059,663,04'1,

415,0L4,605

391,975,694

1,0,609,867,'1,50

2,663,277,028

19,348,801,,891

36,809,'1,42,489

439,740,321

11,,160,8'1,4,594

7,659,896,309

1,5,71,0,783,811,

u,547,519,966

l'l.,,620,206,930

L,540,077,2M

740,279,024

10,464,409,319

I. A

bridged version of Audited C

onsolidated (wherever available) and S

tandalone Financial

Information (P

rofit & Loss statem

ent, Balance S

heet and Cash F

low statem

ent) for last threeyears and auditor qualifications:

1. S

tandalone Balance S

heet

656,404,204 of 108

2. S

tandalone Profit &

Loss Account

Private &

Confidential - N

ot for Circulation

Interest earned

INC

OM

E

Rs. In thousands

For the year

ended3't.03.2019

2,428,686,535

Particulars

Other Incom

e

EX

PE

ND

ITU

RE

2,796,435,413

Interest expended'1,,545,197,790

Operating expenses


PR

OF

IT

Net P

rofit for the year

3. S

tandalone Cash F

low S

tatement

Profit brought forw

ard

(1,55,282,416)

TO

TA

L

Loss of eAB

s & B

MB

on amalgam

ation

349,824300,300

367,748,878

11,,206,102

For the year

ended 31..03.18

TO

TA

L

(745,542)

696,877,374

545,737,961

2,204,993,156

354,609,275446,006,871

2,651,,000,0272,109,79'1,,679

'J,,136,585,O34

For the year

ended 3'1.03.17

403,637,925

2,787,813,115

8,622,298(65,474,537)

(1,50,785,686)

Net P

rofit before Taxes

3,1.68

TO

TA

L

Particulars

Adjustm

ents for

1,,456,456,000

Year ended

32,123,065

599,434,454

1,755,1.82,404

Non-P

erforming

Depreciation on F

ixed Assets

Provision on S

tandard Assets

660,584,100

(Profit)/ Loss on sale of F

ixedA

ssets (Net)

2,7'1,6,474,564

(Profit)/ Loss on revaluation of

Investments (N

et)

(142,1"53,3881

(Profit)/ Loss on

sale of

Investments (N

et )

464,727,694

2,004,950,653

l'rovision forA

ssets

(64,076,897)

(129,548,2661

Year ended

1,04,84'1,,026

31..03.2019

Provision for

Investments

1.6,074,83'J,

Other P

rovisions

3,1.68

104,844,194

(1.,249,517)

Depreciation

on

L,36L,279

3L.03.2018

21.,240,382

(4,731,200)

29,\94,663

Rs. In thousands

545,290,61,4

Year ended

3't.03.2017

1.48,551,,627

(7,620,923)

(56,398,981)

22,933,096

706,802,369

370,549

(36,036,616)

80,875,743

(12550,000)

322,466,915

24,996,429

st{I{gtrg

2,983,939

9,480,040

&

Dept.

of 108

Dividends from

Subsidiaries

Ventures/A

ssociatesA

ctivity)

Adjustm

ents for:

Interest Paid

Instruments (F

inancing Activity)

Increase/ (Decrease) in D

ePosits

(3,480,118)

on C

apital

619,646,904

2,050,427,257L,210,229,524

3,140,289,586

Borrow

ings other than CaP

ital

Instruments

(Investing/Joint

Increase/426,298,528

(46,407,153)

(1.,361.,641,243)

Ventures/A

ssociates(L,396,246,551)

Private &

Confidential - N

ot for Circulation

(Increase)/ D

ecrease ln

Investments other

than

investments in subsidiaries/Joint

(212,475,061)

(290,864,224)(180,512,583)

(Decrease)

in

disposal of

412,053,507

41.:122fi55

(Increase)

(784,450,414)

(65,778,379)

(854,252,472)11o,603,211

activities: (A)

Increase/ (Decrease) in

Liabilities & P

rovisions

640,985,067

Cash flow

fromactivities

ln(21.,1.62,959)

/ Decrease in A

dvances

(4,485,170)

(Increase)/ Decrease

(26,312,415)

Investments S

ubsidiaries/Joint

Ventures/A

ssociates

Assets

)(4't,049,778)

Reduction in F

CT

R on

investments in

non-integral

377,224,437

44,720,427

(2,518)

from/ (used

(3r,484A941

(B)

8,790,8'l.,6

Operations

(5,883,540)

Taxes P

aid

Net C

ash

in) operating

Other

947,191,"174

in O

ther

41.,952,359

(3,055,257,900)

(Increase)/ D

ecrease

generated

549,30'1,,414

Investments in S

ubsidiaries/Joint

Ventures / A

ssociates

Profit/ (Loss)

oo

(336,041.,467)

from/ (used

Q,365,977,956)

Dividend

Subsidiaries/

Associates

(22,14L,947)

(1,880,050,005)

346,275,128

(Increase)/ D

ecrease

Assets (N

et)

sale of

received from

Joint Ventures/

erstwhile D

omestic B

anking

Subsidiaries &

BharatiY

a Mahilla

Bank

towards

fractional

entitlements consequent to m

erger

Cash

(74,695,08O)

paid to shareholders

(69,802,058)

Net C

ash generated

in) investing activities

in F

ixed

4,731,200

(11.,041.,039)

Cash flow

from financing

111,,679,528

3,480,L18

(1.,076,317)

of

(26,634,331

56,398,981

4,485,170

activities

17,550,000

(39,585,972)-

6,883,540

(29,605,619)

rlrsqIuig

**

of 108

Proceeds from

issue of equitYshares

56,748,291(87,42"1)

Share A

pplication moneY

Pending

allotnlent received

Issue/(redemption) of

CaP

ital

Inshuments

30,332,000

Interest on Capital Instrum

ents

(1.26,032,250)

Dividends paid including

tax

thereon

Net cash generated from

/ (usedin) financing activities

(C)

(24,L62,671)

Effect of exchange flucfuation on

Translation R

eserve (D)

Private &

Confidential - N

ot for Circulation

Cash &

C

ash Equivalents

received on account of merger of

Dom

estic Banking subsidiaries &

Bharatiya M

ahilla Bank

(E)

Cash and cash equivalents at the

beginning of the year

Net increase/(decrease) in cash &

cash equivalents ( A

+B

+C

+D

+E

)

Auditor Q

ualifications: There are no auditor qualifications for the fiscal years m

entioned above

4. C

onsolidated B

alance Sheet

(41.,122,855)

237,824,547

Cash and cash equivalents at the

end of the year

(10,878,276)

(44,720,427)

10103,815

(9,224,000)

(41,952,359)

23,374,638)

(17,802,706)

12,919,479(16,276,078)

988,902,899

45,039,933

1,674,676,565

1,9\8,986,4191,7!9,716,498

As on 31.03.20L9

As on 3Lst M

atch2078

8,924,588

Minority Interest

AS

SE

TS

42,909,199

Balances w

ith Banks and

305,914,696

Particulars

1,9'18,986,419

CA

PIT

AL A

ND

LIAB

ILITIE

S

2,224,901,115

Capital

Reserves &

Surplus

199,269,92'1.

Deposits

L,7\9,7'1,6,498

Borrow

ings

Other Liabilities and

Provisions

TO

TA

T

Cash and B

alances with

Reserve B

ank of India

892,46,12

233603,19,93

6036,99,13

2940541.,06,11.

413747,66,1,0

293645,68,92

Rs. In thousands

As on 3Lst M

arch2077

7,973,504

2,163,947,986

388U67,06,31

177362,74,09

2,294,294,868

46,152,451

27,221,,782,821,

3,690,793,388

2,902,497,529

48L49,52,30

36,1U,445,&

5

64,806,458

25,998,106,619

3,363,656,648

34,45'l.,,215,602

L,507,694,569'l..,61.0,'1,86,L07

of 108

2,852,724,387

445,196,514'L,121,785,446

5. C

onsolidated Profit &

Loss Account

Money at C

all & S

hort Notice

Private &

Confidential - N

ot for Circulation

2226853,66,72

40703,05,26

276150,31,32

I. INC

OM

E

3888467,06,3'1,

Interest earned

Particulars

11,837,942,419

1121246,27,83

Other Incom

e

1,9,601,,"185,351,

70047,22,64

41.2,257,926

2,360,1,68,866

II. EX

PE

ND

ITU

RE

36,'1,64,445,&5

Interest expended

Operating expenses

'1,0,272,808,690

11_,663,348,021

'1.8,969,969,201,


740,602,200

For the year

ended 31.03.2019

509,407,377

TO

TA

L

L,968,'1,59,781

TO

TA

L

III. PR

OF

IT

34,451,215,602

253322,14,36

Net P

rofit /(Loss) for the year(before adjustm

ent for Share in

Profit of A

ssociates and

Minority Interest)

11,,849,079,179

77365,27,58

777,270,590

For the year

ended 31.03.18

330687,35,94

Add: S

hare in Profit of

Associates

155867,46,03

2,289,702,766

Less: Minority Interest

Rs. In thousands

Net P

rofit/(Loss) for the Group

114800,30,80

775,573,904

For the year

ended 31,.03.17

Profi t/ (Loss) B

rought f orward

56950,51,,70

3,065,276,670

Am

ount available forA

ppropriation

327519,29,53

7,466,029,820

2,304,470,996

961.,545,'1,90

681,,931,659

3069,07,41,

2,986402,655

679,575,798

3,107,\50,809

Investments

872,898,819

626,263,825

Advances

2,990,309,384

(41,874,138)

Fixed A

ssets

(3,906,729)

Other A

ssets

TO

TA

L


Bills for C

ollection

(45,562,900)

1119247,76,62

(764't,,56,03)(88,963,296)

-1,,491,,'1,46,740

281,,47,94

1050,91,44

2299,63,91

(9941,19,94)

4,381,,598

8,070,360

(43,400,396)

2,932,942

(3,386,212)

qIuc

32,798,329

35,210,654

Dept.

of 108

2,41,2,325

6. C

onsolidated C

ash Flow

Statem

ent

Private &

Confidential - N

ot for Circulation

Particulars

For the year

ended 31.03.18

4451,,05,72(126,737,921)

Cash flow

from operating activities

3495,89,213L,050,71.0

Net P

rofit before taxes (including sharein profit from

associates and net ofm

inority interest

29,1.46,843

32,35,82

Adjustm

ents for:

307,327438,1.46

Depreciation on F

ixed Assets

(466,47,81)(5L,343,0',l,4)

(15,870,792)

(Profit)/Loss

on sale of Fixed A

ssets (Net)

55253,57,08

81,773,033

(Profit)/Loss

on sale of Investrnents inS

ubsidiaries / J oint V

entures/ Associates

17,219,584

(1.,036,478)

(Profit)/Loss

on revaluation ofInvestm

ents (N

et)

(1,54,59n

Interest on Capital Instrum

ents

For the year

ended3'.t.03.2019

52,960,256

63373,44,50

Provision for dim

inution in fair value &N

on-Perform

ing A

ssets

(1,,647,703,441)(2,213,338,662)

Provision on S

tandard Assets

Increase/ (Decrease) in O

ther Liabilities(1,,119,171)

Provision for depreciation on Investm

ents

107,893,461

(Increase)/Decrease in O

ther Assets

(35854,36,00)

Other P

rovisions including provision forcontingencies

(222,732,200)(205,76'1,,756)

Share in P

rofit of Associates

Tax refund / (T

axes paid)

Dividend from

Associates

Rs. In thousands

SU

B T

OT

AL

For the year

ended 31.03.17

Adiustm

ents for:

Increase/ (Decrease) in D

eposits

Increase/ (Decrease) in B

orrowings other

than Capital Instrum

ents

21.24,03,82

(Increase)/ Decrease in Inveshnents other

than Investment in S

ubsidiary /lointV

enfures/ Associates

15,767,382

20,50,53

(606,00,24)

(Increase) / Decrease in A

dvances

1,1,,206,1,02

131.,02,52

71,5,259,880

(28L,47,94)

(35,845,61.6)

(11,,71,,87)

Reduction in F

CT

R on disposal of

investments in non-integral operations

4222,27,24

68365,0408

SU

B T

OT

AL

559,167,5L2

21,8362,77,89

(4,381,,598)

21,9'1.6,266

41290,72,22

45,5M,306

666,2421,34

1,4,605,404

'1,,213,918,457

(321988,70,29)

(2,932,842)

448,321,490

(38,550)

41,82,31,31

692,379,809

3,459,530,975

(1,,341,,902,1,63)

(227,437,732)

3773'1.,23,71

(8175,23,21)

(825,426,786)

(884,974,894)

(80,104,170)

787,839,309

$3,ne33e)

of 108

operating activitiesgenerated fuom

/ (used in)

(Increase)/ Decrease

Subsidiaries /

J oint Ventures

flow

Subsidiaries /

J oint Ventures

Dividend

investing

Profit/(Loss) from

(Increase)/

(A)

in Investments in

on sale of Invesbnents in

(lncrease)/ Decrease

Cash

Consolidation

Net cash

29556,00,50

/Associates

from A

ssociates38,550

66,018,254in G

oodwill on

'1.9,036

fromactivities

237,924,54756,749,291

(Decrease) in C

apital

Decrease in F

ixed Assets

investing activities

activities

Net C

ash

Instruments (N

et)3377,60,00

(22,899,525)

Intereston C

apital Instruments

on27 March201,8) / proceeds from

issueof equity share capital net of issueexpense

generated f.rom/ (used in)

Private &

Confidential - N

ot for Circulation

(Expenses on S

hares

Cash

/Associates

flow

(45,544,306)(52,960,256)

Dividends

(24,162,671)

9,974,674generated from

/ (used in)(c)

(17,397,O99)

equivalentsaccount of acquisition of B

haratiyaM

ahila Bank (E

)6,817,535

in cash and cash

(D)+

(E)

(63,52,57)

Increase/

financing

Cash

1st

225512,26,39

(B)

issued and allotted

466,47,97

(965,079,0641

11,71,39

(3005,51,02)

7734,07,01

1,048,355

Dividends

51,343,074

(856,77,38)

tax paid by subsidiaries/JVs

Net C

ash

1,54,597

financing activities

paid including tax thereon

Increase/

774,059,970

(7,906,551)

Effect of

(Decrease

(10,e40)

(8,74,22)

translation reseryeC

ash and Cash

exchange

75,870,192

1'1,0,657,669

ln

(44,237,067)

equivalents(A

)+(B

)+(c)+

Minority

Net increase/ (

fluctuation on

(4222,27,24)

Auditor Q

ualifications: There are no auditor qualifications for the fiscal years m

entioned above

Cash

Cash and C

ash

(121,184,750)

and

the year

(120,69,39)

(D)

Interest

(28,321223)

decrease)

received on

1,421,,74,62

equivalents

447,63,77

equivalents

1076,29,67

(1,,435,957)

at

at the end ofA

priI

55,47L,637

(23,374,638)

30223,15,56

1.3,05'l.,,753

(7,617,037)

195299,10,93

2,132,414

(41,964,7511

(779,080,470)

2,73'1,,97I,553

'l.,,952,991.,093

686,376,999

2,731,971,553

of 108

2,045,594,655

Private &

Confidential - N

ot for Circulation

7, Auditor's O

pinion Extracts: (S

tandalone)

For the year ended 3L"t M

arch 2019

OpinionW

e have audited the accompanying

Standalone F

inancial Statem

ents of State B

ank of India ("theB

ank") which com

prise the Balance S

heet as at March 3'1,,2019, the P

rofit and Loss Account and

Cash F

low S

tatement for the year then ended, and N

otes to Standalone F

inancial Statem

entsincluding a surunary of S

ignificant Accounting P

olicies and other explanatory information in

which are included returns for the year ended on that date of:

i. T

he Cenhal offices, 16 Local H

ead offices, 1 Adm

in & B

usiness unif Global M

arket Unit,

International Business G

roup, Corporate A

ccounts Group (C

entral), Com

mercial C

lientG

roup (Central), S

tressed Asset R

esolution Group (C

entral), Central A

ccounts Offices and

42 branches audited by us;ii.

'l"4,758lndian branches audited by Statutory B

ranch Auditors;

iii. 38 F

oreign branches audited by Local Auditors;

The branches audited by us and those audited by other auditors have been selected by the B

ankin accordance w

ith the guidelines issued to the Bank by the R

eserve Bank of India. A

lsoincorporated in the B

alance Sheet, the P

rofit and Loss Account are the returns from

8,447 Indianbranches (including other accounting units) and those have not been subjected to audit. T

heseunaudited branches account for 3 percent of advances, 11,.44 per cent of deposits, 7.35 per cent ofinterest incom

e and 12.80 per cent of interest expenses.

In our opinion and to the best of our information and according to the explanations given to us,

the aforesaid Standalone F

inancial Statem

ents give the information required by the B

ankingR

egulation Act, 1949 and S


ct 1955, in the manner so required for the B

ankand are in conform

ity with accounting principles generally accepted in India and give:

a) true and fair view in case of the B

alance Sheet, of the S

tate of Affairs of the B

ank as atM

arch 3L,2019;b)

true balance of profit in case of Profit &

Loss Account for the year ended on that datei and

c) true and fair view

in case of Cash F

low S

tatement for the year ended on that date.

Basis for O

pinion

We conducted our audit in accordance w

ith the Standards on A

uditing (SA

s) issued by theInstitute of C

hartered Accountants of India (the IC

AI). O

ur responsibilities under thoseS

tandards are further described in the Auditor's R

esponsibilities for the Audit of the

Standalone F

inancial Statem

ents section of our report. We are independent of the B

ank inaccordance w

ith the code of ethics issued by the ICA

I together with ethical requirem

ents thatare relevant to our audit of the S

tandalone Financial S

tatements under the provisions of the

Act, and w

e have fulfilled our other ethical responsibilities in accordance with these

requirements and the code of ethics. W

e believe that the audit evidence we have obtained is

sufficient and appropriate to provide a basis for our opinion.

Key A

udit Matters

Key A

udit Matters are those m

atters that in our professional judgment w

ere of most

significance in our audit of the Standalone F

inancial Statem

ents for the year ended March 31,

2019. These m

atters were addressed in the context of our audit of the S

tandalone Financial

Statem

ents as a whole and in form

ing our opinion thereon and we do not provide a separate

12.

J

&

'-*qr\9

of 108

Private &

Confidential - N

ot for Circulation

opinion on these matters. W

e have determined the m

atters described below to be the K

eyA

udit Matters to be com

municated in our report:-

Sr.

No.

Classification of A

dvances and Identification ofand provisioning for non-perform

ing A

dvances inaccordance w

ith the RB

I guidelines (Refer

Schedule 9 read w

ith Note 3 of S

chedule 17 to thefinancial statem

ents)A

dvances include Bills purchased and discounted,

Cash credits, O

verdrafts loans repayable ondernand and T

erm loans. T

hese are furthercategorised as secured by

Tangible

assets(including advances against B

ook Debts), covered

by B

ank / G

overnment G

uarantees andU

nsecured advances,A

dvances constitute 59.38% of the B

ank's totalassets. T

hey are, inter-alia, governed by income

recognition, asset classification and provisioning(IR

AC

) norms and other circulars and directives

issued by the RB

I frorn time to tim

e which

provides guidelines related to classification ofA

dvances into performing and non-perform

ingA

dvances (NP

A). T

he Bank classifies these

Advances based on IR

AC

norms as per its

accounting policy No. 3.

Identification of performing and non-perform

ing

Key A

udit Matters

Existence and

effectiveness ofm

onitoring mechanism

s such asInternal A

udit, System

s Audit, C

reditA

udit and Concurrent A

udit as perthe policies and procedures of theB

ank;

We have exam

ined the efficacy of variousinternal controls over advances todeterm

ine the nature, timing and extent

of the substantive procedures and

compliance w

ith the observations of thevarious audits conducted as per them

onitoring mechanism

of the Bank and

RB

I Inspection.In carrying out substantive procedures atthe branches allotted to us, w

e haveexam

ined all large advances/stressedadvances w

hile other advances have beenexam

ined on a sample basis including

review of

valuation reports ofindependent valuer's provided by theB

ank's managem

ent.R

eliance is also placed on Audit R

eportsof other S

tatutory Branch A

uditors with

whom

we have also m

ade specificcom

munication.

We have also relied on the reports of

External IT

System

Audit experts w

ithrespect to

the business logics /param

eters inbuilt in CB

S for tracking,

identification and stamping of N

PA

s andprovisioning in respect thereof.

Advances involves establishm

ent of proper

mechanism

. The B

ank accounts for all the

transactions related to Advances in its Inform

ationT

echnology System

(IT S

ystem) viz. C

ore Banking

Solutions (C

BS

) which also identifies w

hether theadvances are perform

ing or non-perform

ing.F

urther, NP

A classification and calculatior-r of

provision is done through another IT S

ystem viz.

Centralised C

redit Data P

rocessing (CC

DP

)A

pplication.T

he carrying value of these advances (net ofprovisions) m

ay be materially m

isstated if, eitherindividually or in aggregate, the IR

AC

norms are

not properly followed..

Considering the nature of the transactions,

regulatory requirements, existing business

environment, estim

ation/judgement involved in

valuation of securities, it is a matter of high

importance for the intended users of

theS

tandalone Financial S

tatements. C

onsideringthese aspects, w

e have determined this as a K

eyA

udit Matter.

Accordingly, our audit w

as focused on income

recognition, asset classification and provisioningpertaining to advances due to the m

ateriality ofthe balances.

Our audit approach tow

ards advancesw

ith reference to the IRA

C norm

s andother related circulars / directives issuedby R

BI and also internal policies and

procedures of the Bank includes the

testing of the following:

- T

he accuracy of the data input in thesystem

for incom

e recognition,classification into perform

ing andnon-perform

ing Advances and

provisioning in accordance with the

IRA

C N

orms in

respect of the

branches allotted to us;

Auditors' R

esponse

utow

ards Investments

of 108

Classification and V

aluation of Investm

ents,O

ur audit

Private &

Confidential - N

ot for Circulation

Identificationof

andprovisioning

forN

on-

Perform

ingInvestm

ents(S

ched ule8

readw

ith

Note

2of S

cheduleto

thefinancial

statements

7

Investments inclucle investm

ents made by the

Bank in various G

overnment S

ecurities, Bonds'

Debenture, S

hares, Security receipts and other

approved securities.Investm

ents constitute 26.27% of the B

ank's total

assets. These are governed by the circulars and

clirectives of the Rut"rn" B

ank of India (RB

I)'

These directions of R

BI, inter-alia, covet valuation

of investments, classification of

investments'

iclentification of non-performing invesknents'

the

corresponcling non-recognition of income and

provision there against'T

he valuatiott o] each category (tyPe) of the

aforesaid securities is to be done as per them

ethod prescribed in circulars and directivesissued U

y Ur" R

BI w

hich involves collection of

clata/information from

various sources such asF

IMD

A rates, rates quoted on B

SE

/ N

SE

'

financial statements of unlisted com

panies etc'

Considering the com

plexities and extent ofjudgem

ent"involved in the valuation, volume of

transactions, investments on hand and degree of

regulatory focus, this has been determined as a

Key A

udit Matter.


as focused on valuation

of invesnients, classification, identification of Non

Perform

ing Investments and provisioning related

directives ir-rcluded the review

and testing

of the design, operating effectiveness ofinternal controls and substantive audit

proceclures in relation to

valuation,

classification, identification of N

on

Perform

ing Investments, P

rovisioning /clepreciation related to Investm

ents' Inparticular,a. W

e evaluated and understood theB

ank's internal control sYstem

to

comply w

ith relevant RB

I guidelines

tuguidit",g valuation, classification,identification of N

on Perform

ing

Investments, P

rovisioning /clepreciation related to investm

ents;

b. W;

assessed and evaluated tl-re

process adoPted for collection of

in-formation from

various sources fordeterm

ining fair value of these

investments;

c. For

the selected sam

Ple of

investments in

hand, we tested

accuracy and comP

liance with the

RB

I Master C

irculars and directionsby re-perform

ing valuation for each.it"goiy of the security. S

ample-s

were selected after ensuring that all

the categories of investments

(based

ot ,,ut*" of securitY) w

ere covered

in the sanrPle;

We assessed and evaluated

the

process of identification of NP

Is, and

corresponding reversal of income

and creation of Provision;

We carried out substantive audit

procedures to

recomP

ute

independentlY the P

rovision to bem

aintained and dePreciation to be

provided in accordance w

ith the-circulars and directives of the R

BI'

Accordingly, w

e selected samP

les

from the investm

ents of each

category and tested for NP

Is as Per

the nni guidelines and recomP

uted

the provision to be maintained in

u..oidutt." with the R

BI C

ircular for

those selected samP

le of NP

Is;

investments betw

een the Investment

application software and

the

finincial statement P

reParation

software to ensure com

pliance with

as

and disclosure

r)rrc

witll reference to

the RB

I Circulars /

to investments

d.e.f. W

e tested

the presentation the m

aPP

ing of

qlrg

the aforesaid

Shares

&

of 108

111A

ssessment of

Provisions and C

ontingentliabilities in respect of certain litigations includingD

irect and Indirect Taxes, various claim

s filed byother parties not acknow

ledged as debt. (Schedule

L2 read with N

ote 18.9 of Schedule 18 to the

financial statements)

:

There is high level of judgem

ent required inestim

ating the level of provisioning. The B

ank'sassessm

ent is supported by the facts of matter,

their own judgm

ent, past experience, and advicesfrom

legal and independent tax consultantsw

hereever considered necessary. Accordingly,

unexpected adverse outcomes m

ay significantlyim

pact the Bank's reported profit and the B

alanceS

heet.W

e determined the above area as a K

ey Audit

Matter in view

of associated uncertainty relatingto the outcom

e of these matters w

hich requiresapplication of judgm

ent in interpretation of law.


as focused on analysingthe facts of subject m

atter under consid.eration andjudgm

ents/ interpretation of law

involved.

Private &

Confidential - N

ot for Circulation

Other M

atters

RB

I Circular/ directions

Our audit approach involved :-a.

Understanding the current status of

the litigations / tax assessments;

b. Exam

ining recent orders and/orcom

munication received from

various Tax A

uthorities/ Judicialforum

s and follow up

actionthereon;

Evaluating the m

erit of the subjectm

atter under consideration with

reference to the grounds presentedtherein and available independentlegal / tax advice; and

d. R

eview and analysis of evaluation of

the contentions of the Bank through

discussions, collection of details ofthe

subject matter

underconsideration, the likely

outcome

and consequent potential outflows

on those issues.

4. W

e did not audit the financial statements / inform

ation of 14,796 branches included in thestandalone financial statem

ents of the Bank w

hose financial statements / financial inform

ation reflecttotal advances of R

s. 14,00,731.01 crores at 31st March 2019 and total interest incom

e of Rs. 1,,06,540.62

crores for the year ended on that date, as considered in the standalone financial statements. T

hefinancial statem

ents / information of these branches have been audited by the branch auditors w

hosereports have been furnished to us, and in our opinion in so far as it relates to the am

ounts and.disclosures included in respect ofbranches, is based solely on the report of such branch auditors.

Our opinion is not m

odified in respect of above matters.

For the )zear ended 31"t M

arch 2018

"Opinion

6. In our opinion, as shown by books of the B

ank, and to the best of our information and according to

the explanations given to us:

a) the balance sheet, read with the significant accounting policies and the notes thereon is a full

and fair balance sheet containing all the necessary particulars, is properly drawn up so as to

exhibit a true and fair view of state of affairs of the B

ank as at 31st March 2018 in conform

ityw

ith accounting principles generally accepted in India;

itpg *qY

Shr.r"

o, n1' r'*6v

*P

age 58 of 108

Private &

Confidential - N

ot for Circulation

b) the P

rofit and Loss Account, read w

ith the significant accounting policies and the notes thereonshow

s a hue balance of loss, in conformity w

ith accounting principles generally accepted inIndia, for the year covered by the account; and

c) the cash flow

statement gives a true and fair view

of the cash flows for the year ended on that

date.

Em

phasis of Matter

7. We draw

attention to:

1N

ote no 18(9Xb), regarding unam

ortized balance of IN

R 2,707.50 C

rores on account of additionalliabilities tow

ards Gratuity; and

Note no 18(9)(9), regarding recognition of D

eferred Tax A

ssets of INR

2,461.40 Crores on provision for

standard assets

2.

1,,77,606.66

77,191.98

2,42,868,65

1,,61,,640.23

74,406.16

Our opinion is not qualified in respect of the above stated m

atters."

For the year ended 31"t M

arch2017

"Opinion

6. In our opinion, as shown by books of the B

ank, and to the best of our information

and according to theexplanations given to us:

(i) the balance sheet read with the significant accounting policies and the notes thereon is a full and fair balance

sheet containing all the necessary particulars, is properly draw

n up so as to exhibit a true and fair view of state

of affairs of the Bank as at M

arch 31,,2017 rn cor$ormity w

ith accounting principles generally accepted in India;

(ii) the laofit and Loss Accoun! read w

ith the significant accounting policies and the notes thereon shows a

true balance of profif in conformity w

ith accounting principles generally accepted in hrdia, for the year

covered by the accoun! and

(ut) th" cash flow statem

ent gives a true and fair view of the cash flow

s for the year ended on that date

I. A

bridged version of Latest unaudited/ Limited R

eview H

alf Yearly C

onsolidated (wherever

applicable) and Standalone F

inancial Information (like P

rofit & Loss statem

ent, and Balance

Sheet) and auditor's qualifications, if any:

1. Unaudited F

inancial Results for the half-year ended 30ft S

eptember 2019 (standalone)

(Rs. in crores)

Sr. N

o P

articulars

30.09.2019 Half-Y

ear ended

Interest Earned (a)+

(b)+(c)+

(d)

Interest/discount on

{a)advances/bills

(b) Incom

e on Investments

7,26,950.20

89,105.85

33,656.28

Unaudited

1

30.09.2018

Unaudited

of 108

Year ended

31.03.2019

Audited

910

17

Interest on balances with R

eserve(.)

Bank of India and other interbank

funds(d)

Others

J 2 O

ther Income

Expenses

(4)+ (5) (excluding

Contingencies)

Interest Expended

4

Total Incom

e (1+2)

5

Profit (3 - 6) (before

1,235.12

2952.955,643.19

Operating E

xpenses (i) r (ii)(i)

Em

ployee cost

Provisions and C

ontingencies)P

RO

VIS

ION

S (other than rax) and

Contingencies

(net-of write-backs)

--- of which provisions for N

on_P

erforming A

ssetsE

xceptional Items

Profit F

rom O

rdinary Activities

Before T

ax (7-8+9)

Tax E

xpenses

Private &

Confidential - N

ot for Circulation

(ii) O

ther Operating

Total E

xpenditure

7

Provisions and

Operating

68

27,960.52

22,321.87

22,689.17

3,484.30

9,123.05

3,799.12

5,323.93

32,880.61

19,404.79

13,475.92

24,317.43

31,320.43

23,222.40

1,560.55

-5,442.45

-1,511.47

69,697.73

47,057.7'1.

28,633.02

items

13)

,U

naudited summ

arized Balance S

heet (standalone)

crores)

2,7g,og2.gg

'1.,07,783.22

nettax

expenses

Period

Sr.

No

Particulars

1,

ABCDE

36,214.34

(

1,54,519.78

of(12-

16,553.81

79,4"t1.09

't4

2,272.86

N13

473.85

Net P

rofit From

36,132.30

22,220.68

13,911.62

After T

ax (10-11)E

xtraordinary

'1,,32,100.65

14,493.99

'l.,,15,543.39

etProfit

7,779.07

74,902.61

Ordinary A

ctivities

'l.,,43,504,01

t2

forthe

)

2,24,207.51

53,875.48

53,828.55

54,529.06

1560.55

1,607.48

745.25

-3,930.99

As at

30.09.2018

Unaudited

862.23

As at 3L.03.2019

Audited892.46

2,20,021.36

29,11,,396.0r

4,03,017 12

'1,,45,597.30

(Rt

2

36,79,o00.59

of 108

5,323.93

Total C

apital and Liabilities

Assets

As at 30.09.20L9U

naudited

-3,93O.99

862.23

892.46

2,25,192.90

30,33,395.90

2,74,195.93

L,44,343.70

892.46

2,17,109.24

28,07,420.11

3,34,695.92

1,,25,454.56

34,85,572,2936,8O

,9'1,4.25

4lu-(,

ri.Js

ABCDEF

Cash and B

alances with R

BI

Balances w

ith Banks and m

oney at calland short noticeInvestm

ents

Advances

Fixed A

ssets

Other A

ssets

81.,219.28

Sr. N

o P

articulars

43,163.39

9,85,022.78

21,,46,"159.82

38,603.43

2,83,091..71.

Private &

Confidential - N

ot for Circulation

1,,43,904.17

1.

70,82,611,.86

19,57,339.6L

39,509.45

2,32,984.57

36,78,O0O

.5934,85,572.29

Unaudited F

inancial Results for the half-year ended 30ft S

eptember 20'1"9 (consolidated)

'1.,29,963.41

Half-Y

ear ended

2 O

ther Income

3 T

otal Income (1+

2)

'1,76,932.42

45,557.69

9,67,02'1..95

21,,95,976.92

39,797.57

2,66,327.70

4 Interest E

xpended

Interest Earned (a)+

(b)+(c)+

(d)

(u) Interest/discountonadvances/bills(b)

Income on Investm

ents

Interest on balances with R

eserve

(c) B

ank of India and other interbankfunds

(d) O

thers

56

30.09.2019

Operating E

xpenses (i) + (ii)

(0 E

mployee cost

(ii) O

ther Operating E

xpenses

Unaudited

1.,324.76

2,909,975,629.29

36,8O,914.%

Operating P

rofit (3 - 6) (beforeP

rovisions and Contingencies)

PR

OV

ISIO

NS

(other than tax) andC

ontingencies (net-of w

rite-backs)--- of w

hich provisions for Non-

Perform

ing Assets

Exceptional

Items

Profit F

rom O

rdinary Activities

Bcforc T

ax (7-8,9)T

ax Expenses

Total E

xpenditure (4)+ (5) (excluding

Provisions and C

ontingencies)

1,32,950.66

91.,753.42

36,987.37

78

30.09.20L8

1,72,62:i.99'l.,,54,296.13

3,30,220.99

75,541..01

Unaudited

60,971..12

23,660.60

37,3'1,0.52

3'1.,410.46

23,089.24

23,252.71

3,190.97

11,,512.19

4690.50

(Rs. crores)

'1.,299.90

't 22,627.3579,392.83

40,435.08

910

11.

5'1.,566.28

20,693.00

30,873.28

27,188.84

31.,769.70

23,596.26

466.48

(4,114.38)

(80ej3)

1,14,600.31

43,795.01

71,005.30

Year ended

7,27,107.29

31.03.20L9

Net P

rofit From

Ordinary A

ctivitiesA

fter Tax (10-LL)

Audited

39,675.33

14 N

et Profit for the P

eriod (12-L3)

542.1.0

2,53,322:1,4

1,,66,1,24.59

80,243.51,

12

90,244,41

13 E

xtraordinary items (net of tax expenses)

2,257.34

15 S

hare in Profit of A

ssociates

3L,668.78

1,41.,215.53

76.898.74

L,55,867.46

Total A

ssets

3.

59,553.11

54,799.11

55,253.57

466.48

5,220.48

2,1.51.4L

(1304.55)

281..48

qlugS

hares

Y)qY

112.34

'Page

61. of 108

2,70,667.77

6,82'1..59

6,8n.69(3,304.55)

746.22

3,069.07

*

3,069.07

Minority Interest

Unaudited sum

marized B

alance Sheet (C

onsolidated)

Private &

Confidential - N

ot for Circulation

1,050.91

Sr.

No

Particulars

As at 30.09.2018U

nauditedA

s at 31.03.2019A

udited

1ABCDEF2,56,425.35

39,09,927.59T

otal Capital and Liabilities

2AA

ssets

Cash and B

alances with R

BI

Balances w

ith Banks and m

oney at calland short notice

4,13,747.66

2,93,645.69

D

As at

30.09.2019

Unaudited

BCInvestm

ents

495.55

EF

(3,653.98)

40,256.02

2,93,949.94

Advances

892.46

2,39,797.57

6,970.21

30,64,306.96

2,90,460.45

3,06,409.93

Fixed A

ssets

Other A

ssets

Total A

ssets

2,299.64

K' A

ny material event/ developm

ent or change having implications on the financials/credit

quality (e.g. any material regulatory proceedings against the Issueq/prom

oters, Tax

litigations resulting in material liabilities, corporate restructuring event etc) at the tim

e ofissue w

hich may affect the issue or the investor's decision to invest/continue to invest in

the debt securities.

892.46

2,28,669.92

5,270.03

29,39,115.31.

(Rs. crores)

3,39,974.94

1,,44,1,59.69

83,920.35

The Issuer hereby confirrns that other than the inform

ation disclosed in the public Dom

ain, ourw

ebsite and this disclosure document there has been no m

aterial even! development or change

having implications on the financials/ credit quality of the Issuer (".g. arly m

aterial regulatoryproceedings

against the Issuer/ promoters of the Issuer, tax litigations resulting in m

aterial liabilities,colporate restructuring

event etc) at the time of Issue w

hich may affect the Issue or thc invcstor,s

decision to invest/ continue to invest in the debt securities of the Issuer.

892.46

2,33,603.20

6,036.99

29,40,541..06

36,70,199,0L

11,,54,703.94

21,91,,838.64

1,30,221.46

45,265.29

39,09,927.59

t. N

ames of the T

rustee and Consent thereof:

Net P

rofit/(Loss) after

'J.6.

17.

Share of

(14+ts-16)

4.

Minority

38,99,467.06

L2,1,9,g55.44

22,26,953.67

38,99,467,06

In accordance with the provisions of S

EB

I Debt R

egulations, the Issuer has appointecl IDB

IT

rusteeship Services Lim

ited to act as Trustees to the B

ondholder(s).

('I*

*qIug

&

of 108

'1,9,94,970.64

1,,77,362.74

48,149.52

40,985.19

2,39,ggg.gg

36,70,'l,gg.0l

11,19,247.77

40,703.05

2,76,L50.31.

Private &

Confidential - N

ot for Circulation

The address and contact details of the T

rustees are as under:

IDB

I Trusteeship S

errrices Limited

Asian B

uilding Ground F

loor

1Z R

. Kam

ani Marg B

allard Estate

Mum

bai4OO

001

Tel 02240807000

Fax:0226631,1776

Ernail itsl@

idbih'ustee.c om

Website: w

ww

.iclbih'ustee.corn

Copy of letter from

IDB

I Trusteeship S

enrices Limited dated O

ctober 31,2019 conveying their

consent to act as Trustees for the cw

rent issue of Bonds is enclosed w

ithin the Annexure in this

Disclosure D

ocument.

The B

ondholder(s) sl-rall, without further act or deed, be deem

ed to have ilrevocably given their

consent to the Trustees or any of their agents or authorized officials to do all such acts, deeds, m

atters

a1d things in respect of or relating to the Bonds as the T

rustees may in their absolute discretion deem

necessary or require to be cl.one in the interest of the holder(s) of the Bonds' A

ny payment m

ade by

the Issuer to the Trustees on behalf of the B

ondholder(s) shall discharge the Issuer pro -tanto to the

Bondholder(s). N

o Bondholder shall be entitled to proceed directly against the Issuer unless the

Trustees, having becom

e so bound to proceed, fail to do so'

The T

rustees shall perform its duties and obligations and exercise its rights and discretions, in

keeping with the trust reposed in the T

rustees by the holder(s) of the Bonds and shall further conduct

itself, anc{ comply w

ith the provisions of all applicable laws, provided that, the provisions of S

ection

20 of the 6clian Trusts A

c! ]882 shall not be applicable to the T

rustees. The T

rustees shall carry out

its duties and per{orm its functions as required to discharge its obligations under the term

s of SE

BI

Debt R

egulatioru, the Securities and E

xchange Board of India (D

ebenture T

rustees) Regulations,

1993, the Debenture T

rusteeship Agreem

en! Disclosure D

ocument and all other related kansaction

documenb, w

ith due care, diligence and loyalty.

M. R

ating and Detailed R

ating Rationale

CR

ISIL R

atings vide ib letter dated Novem

ber 8, 2019 and Novem

ber 18, 2019 has assigned a credit

rating of "CR

ISIL A

A+

/Stable" and IC

RA

vide its lefter dated Noven'rber 4,2019 has assigned a

creclit rating of "ICR

A 4tr+

(hyb)" with S

table outlook for the present issue of BA

SE

L III compliant

Aclclitional T

ier 1 Bonds. Lrstrum

ents with this rating are considered to have high degree of safety

regarding timely servicing of financial obligations. S

uch lnstrumenb carry very low

credit risk' The

letters "hyb" stand for "hybrid", indicated that the rated instrument is a hybrid subordinated

inskument w

ith equity-like loss absorption features; such features may kanslate into higher levels of

rating bansition and loss severity vis-a-vis conventional clebt insbunrents. Copy of rating letter from

CR

ISIL ancl IC

RA

are enclosed within the A

nnexure in this Disclosure D

ocument.

Other than the credit ratings m

entioned herein above, the Issuer has not accepted any other credit

ratilg from any other creclit rating agency(ies) for the B

onds offered for subscription under the terms

of this Disclosure D

ocument. H

owever, the Issuer reseryes the right to get the issue rated by any other

credit rating agency at a later date, should it feel the necessity

'Page 53 of 108

Private &

Confidential - N

ot for Circulation

The above ratings are not a recom

mendation to buy, sell or hold securities and investors should take

their own decision. T

he ratings may be subject to revision or w

ithdrawal at any tim

e by the assigningrating agencies and each rating should be evaluated independently of any other rating. T

he ratingsobtained are subject to revision at any point of tim

e in the future. The rating agencies have the right to

suspend, withdraw

the rating at any time on the basis of new

information

etc.

N. S

ecurity

The B

onds ate unsecwed and none of the holders of the B

onds or any other person claiming for or on

behalf of or through such holder shall be entitled to any lien or set-off on any property / assets /

rights, whether current or futw

e, of the Bank or any other person in relation to any obligations of the

Bank in relation to the B

onds, whether such right is under law

, equity or conkact and holding of theB

onds by any person shall be deemed as an express undertaking by such holder to that effec! i.e.,

such holder waives in perpetuity its rights or claim

s, whether in law

or equity or conhact, of set-offand/ or lien on any property /

assets / nghts, w

hether current or future, of the Bank or any other

person in relation to any obligations of the Bank in relation to the B

onds. It is further clarified that theB

onds are neither secured nor are covered by a guarantee of the Bank of any other related entity of the

Bank. F

urther, it is clarfied that this Bond is not covered by ^y other arrangem

ent that legally oreconom

ically enhances the seniority of the clain'r of the holders of the Bond uis-a+

is the Bank's

creditors

O. S

tock Exchange w

here Bonds are proposed to be listed

The B

onds are proposed to be listed on the D

ebt segment of N

SE

and/ or BS

E Lim

ited.

Other D

etails

1. D

RR

Creation -

As per the C

ompanies (S

hare Capital and D

ebentures) Rules, 20"14, no D

ebenture R

ed.emption

Reserve is required to be created by banking com

panies issuing debentures.

Also, the Issuer is not required to create D

ebenture Redem

ption Reserve as per S

tate Bank of India

Act, 1955 as am

ended from tim

e to time.

2. Issue/instrum

ent specific regulations

The present issue of B

onds is being made in pursuance of B

asel III Guidelines, in accordance

with the'C

riteria for inclusion of P

erpetual Debt Instrum

ents (PD

I) as Adclitional T

ier 1 Capital' uncler

Annex 4 thereof and 'M

inimum

Requirem

ents to Ensure Loss A

bsorbency of Additional T

ier 1Instrum

ents at Pre-specified T

rigger and of All N

on-equity Regulatory C

apital Instrumenb at the

Point of N

on- Viability' under A

rurex 16 thereof.

The present Issue of B

onds is being made pursuant to the resolution of the C

entral Boarcl of the Issuer, passed

at its meeting held on July 01.,2019 and the delegation provided to C

omm

ittee of Directors in the C

ental Board

meeting held on D

ecember 27,2017 . T

he Com

mittee of D

irectors at its m

eeting held on Novem

ber L6, 2019 hasapproved issuance of A

dditional Tier 1 capital irutrun'rents. T

he Bank can issue the B

onds proposecl by it inview

of the present approvals and no fruther intemal or external perm

ission/ approval(s) is/are required by it

e)rrt'qlrr.g

Shares &

*rll.

I

to undertake the proposed activity

*P

age 64 of 108

t.

Private &

Confidential - N

ot for Circulation

3. A

pplication P

rocess

Who C

an Apply

The categories of investors w

ho are eligible to apply for this Issue are mentionecl in the S

umm

aryT

erm S

heet of this Disclosure D

ocument. H

owever, the prospective

subscribers must m

ake their own

independent evaluation and judgm

ent regarding their eligrbility to invest in the Issue.

All applicants

are required to comply w

ith the relevant regulations/ guidelines applicable to them

forinvesting in the issue of B

onds as per the norrns approved by Govem

ment of India R

BI or any other

statutory and regulatory body frorn time to tim

e.

How

ever, out of the above mentioned class of investors eligible to inves! this D

isclosure Docum

ent isintended solely for the use of the person to w

hom it has been sent by the Issuer for the purpose of

evaluating a possible investnent opportunity by the recipient(s) in respect of the securities offeredhereiru and it is not to be reproduced or distributed to any other persons (other than professionaladvisors of the prospective investor receiving this D

isclosure Docum

ent from the Issuer).

ii. D

ocuments to be provided by Investors

Investors need to submit the certitied true copies of the follow

ing documents, along-w

ith theA

pplication F

orm, as applicable:

Mem

orandum and A

rticles of Association/constitution/ bye-law

s/ trust cleecl;B

oald resolution authorizing the investrnent and containing operating instructions;

Pow

er of attomey/ relevant resolution/authority to m

ake application;S

pecimen signatures of the authorized signatories (ink signed), duly certified by an

appropriate authority;G

ovemm

ent notification (in case of primary co-operative bank and regional rural banks);

SE

BI registration certificate (for M

utual Funds);

Copy of P

ermanent A

ccount Num

ber Card ('pA

N card,,) issued by the Incom

e Tax

deparhrlen!N

ecessary forms for clairning exem

ption from cleduction of tax at source on interest on

application money, w

herever applicable;A

pptcation Form

(including RT

GS

/NE

FT

de+ails).

aaaaa

ur.

lv

Applications to be accom

panies with B

ank Account D

etails

Every application shall be required to be accom

panied by the bank account cletafu of the Applicant for

the purpose of facilitating direct credit of all amounts through R

TG

S.

How

to Apply

All eligible Investors should refer the operating guidelines for issuance of debt securities on private

placement basis through an elechonic book m

echanism as available on the w

ebsite of BS

E /

NS

E.

Investors will also have to com

plete the mandatory know

your customer verificatiol

process.Investors should refer to the B

SE

EB

P G

uiclelines in this respect. The A

pplication Form

will be filled in

by each Investor and uploaded in accordance with the S

EB

Ircgulatory and

operational guidelines.

conrpleted in BLO

CK

r)ut

*qll'g

&

Applications for the B

onds must be in the prescribed form

Drpt

of 108

Private &

Confidential - N

ot for Circulation

LET

TE

RS

in English as per the inshrrctions contained therein.

(a) The details of the Issue shall be entered on the B

SE

- EB

P P

lafform by the Issuer at least 2 (tw

o)B

usiness Days prior to the Issue opening

c{ate, in accordance with the O

perational G

uiclelines.

(b) Th" Issue w

ill be open for bidding for the duration of the bidding window

that would be

conrmunicated through the Issuer's bidding announcem

ent on the B

SE

- EB

P P

lafform, at least 1 (one)

Business D

ay before the start of the Issue opening date.

Som

e of the key guidetines in terms of the current O

perational Guidelines on issuance of securities on

private placementbasis

tluough an EB

P m

echanism are as follow

s:

(a) Modification

of Bid

Investors may note that m

odification of bicl is allowed during the bidding period /

window

.H

owever, in the last 10 (ten) m

inutes of the bidding period / wtdLow

, revision of bid is only allowed

for improvem

ent of coupon / yteldand upw

ard revision of the bid amount placed by the Investor.

(b) Cancellation of B

id

Investors may note that cancellation of bid is allow

ed during the biclding periocl / winclow

. How

ever,in the last 1.0 m

inutes of the bidding period f window

, no cancellation of bids is permittecl.

(c) Multiple B

ids

Investors are perm

itted to place m

ultiple bids on the EB

P plafform

in line with E

Bp G

uidelines videS

EB

I circular SE

BI/}JIO

/DD

FIS

/CIR

/P

/2015/1D.

dated August 16, 2018^

How

ever, Investors should refer to the Operational G

uidelines prevailing as on the date of the bid.

Paym

ent Mechanism

Applicants shall m

ake remittance of application m

oney by way of electronic bansfer of funds through

RT

GS

/electronic fund nrechanism for credit by the pay-in tim

e in the bank account of the IndianC

learing Corporation Lim

ited appearing on the B

SE

EB

P plafform

in accordance with the tim

elines set

out in the EB

P G

uidelines and the relevant rules and regulations specified by SE

BI in this regard. A

llpapnenb m

ust be nlade through RT

GS

as per the Bank details m

entioned in the application form/B

SE

-EB

P plafform

.

The B

ank asslunes no responsibility for any Applications lost in m

ail. The entire am

ount of Rs.10 lacs

per Bond is payable on application.

How

to fill the Application F

orm

Applications should be for the num

ber of Bonds applied by the A

pplicant. Applications not

completed in the said m

anner are liable to be rejected.T

he name of the applicands

bank, type of account and account number m

ust be filled in theA

pplication Form

.

The A

pplicant or in the case of an application in joint names, each

Applicant should

a

of 108

Private &

Confidential - N

ot for Circulation

mention his/her P

AN

allotted under the lncome -T

ax Act, '1961, or w

here the same hqs 1e1

been allotted, the GIR

No. and the Incom

e tax Circle/W

ard/Dishict A

s per the prowision of

Section 1394 (5A

) of the IT A

cl PA

N/G

IR N

o. needs to be mentioned on the T

DS

certificates.H

ence, the investor should mention his P

AN

/GIR

No. A

pplication Forrns w

ithout thisinform

ation will be considered incom

plete and are liable to be rejectecl.A

ll applicants are requested to tick the relevant column "C

ategory of Investor', in theA

pplication Form

. Public / pivate/ religious/ charitable trusts, provident funds and other

superannuation husts and other investors requiring "approved security" status for rnakilginvestnents.

For further insttuctions about how

to make an application for applying for the B

oncls anil proceilwe

for remittance of application m

oney, please refer to the Sum

mary T

erm S

heet and the Application

Form

Term

s of Paym

ent

The full face value of the B

onds applied for is to be paid along with the A

pplication Form

. Investor(s)need to send in the A

pplication Folrn and papnent through R

TG

S for the fr:ll value of B

onds appliedfor.

Force M

ajeure

The Issuer reseryes the right to w

ithdraw the issue prior to the Issue C

losing Date in the event of any

unforeseen development adversely affecting the econom

ic and regulatory environment or otherw

ise.

Applications under P

ower of A

ttorney

A certified true copy of the pow

er of attomey or the relevant authority as the case m

ay be along with

the names and specim

en signature(s) of atl the authorized signatories and the taxexem

ption certificate/document, if any, m

ust be lodged along with the subm

ission of the completed

Application F

orm. F

urther modifications/ additions in the pow

er of attomey or authority shoulcl be

notified to the Issuer or to the Regishars or to such other person(s) at such other address(es)

as may be

specified by the Issuer from tim

e to time through a suitable com

munication.

In case of an Application m

ade by companies under a pow

er of attorney or resolution or authority, a

certified true copy thereof along with m

emorandum

and articles of association and/or bye-laws along

with other constitutional docum

ents must be attached to the A

pplication Form

at the time of m

akingthe application, failing w

hich, the Issuer reseryes the full, unqualifiecl and absolute right to accept orreject any application in w

hole or in part and in either case without assigning any reason thereto.

Nam

es and specimen signatures of all the authorized signatories m

ust also be lodged along with the

submission of the com

pleted Application

Form

.

viii. A

pplication by Mutual F

unds

In case of applications by mutual funds and venture capital funds, a separate application m

ust bem

ade in respect of each scheme of an Lrdian m

utual fund/venture capital fund registered w

ith SE

BI

and such applications will notbe treated as m

ultiple apphcations, provided that the application made

by the asset managem

ent company/ tuustees/ custodian clear

their intention as to the

vvl.

vlt.

scheme for w

hich the application has been made.

of 108

Private &

Confidential - N

ot for Circulation

The application form

s duly filled shall clearly indicate the name of the concerned schem

e for which

application is being made and m

ust be accompanied by certitied true copies of:

a. S

EB

I registration certiticate

b. R

esolution authorizing invesknent and containing operating instructions

c. S

pecimen signature of authorized signatories

ix. A

pplication by Provident F

unds, Superannuation

Funds and G

ratuity Funds

The applications

must be accom

panied by certified true copies of

a. T

rust deed / byelaws /resolutions

b. R

esolutionauthorizinginvestnentc.

Specim

en signahrres of the authorized signatories

Those desirous of clairning tax exem

ptions on interest on application m

oney are required to submit a

certificate issued by the Income T

ax officer along with the A

pplication Form

. For subsequent interest

payments, such certificates have to be subm

itted periodically.

x,A

cknowledgem

ents

No separate receipts w

ill be issued for the application money. H

owever, the Issuer receiving the duly

cornpleted Application F

orm w

ill acknowledge receipt of the application by stam

ping and retuming

to the applicant the acknowledgem

ent slip at the bottom

of each Application

Form

.

xi. B

asis of Allocatron

Allotunent against valid applicatiorn for the B

onds will be m

ade to applicants in accordance with

applicable SE

BI regulations, operational guidelines of the exchanges and all applicable law

s. At its sole

discretiorL the Issuer shall decide the amount of over subscription to be retained over and above the

Base Issue size.

The allotnent of valid applications received on the E

BP

shall be done on yield-time priority basis in

the followingm

Ernner:

(a) allohnent would be done first on "yield priority" basis;

(b) where tw

o or more bids are at the sam

e yield, then the allotrnent shall be done on "time-priority"

basis;

(c) where tw

o or more bids have the sam

e yield and time, then allotrnent shall be done on "pro rata"

basis.

If the proportionate allotnent of Bonds to such applicants is not a m

inimum

of one Bond or in

multiples of one B

ond (which is the m

arket lot), the decimal w

ould be rounded off to the next higher

whole num

ber if that decimal is 0.5 or higher and to the next low

er whole num

ber if the decimal is

lower than 0.5. A

ll successful applicants on the Issue closing date would be allotted the num

ber of

Bonds arrived at after such rounding off. It is clarified that the rounding off as specified here w

ill notam

ount to the Bank exceeding the total Issue size.

of 108

xt1.

Private &

Confidential - N

ot for Circulation

Right to A

ccept or Reject A

pplications

The Issuer reselves its f1ilI, unqualifiecl ancl absolute right to accept or reject arry applicatioru ur part or

in full, without assigning any leason thereof. T

he application forms that are not .or1pl"tu lr,

u11respects are liable to be rejected and w

ourd not be paid any interest on the application money.

Application w

ould be liable to be rejectecl on one or more technical grounds, including but not

restricted to:

(a) Num

ber of Bonds appriect for is less than the m

inimum

application size;(b) A

pplication money receivecl not being from

the bank account of the person / enhtysubscribi'g tothe B

onds or from the bank account of the person/ entity w

hose narne appears first in theA

pplication F

orm, in case of joint holders;

(c) Bank account details of the A

pplicants not given;(d) D

etails for issue of Bonds in dem

aterialized form

not given;(e) P

AN

/GIR

and IT circl e/W

arcl/Disnict not givery

(0 In case of applications under pow

er of attorney by limited com

panies, corporate bodies, trusts,etc. relevant docum

ents not submitted;

In the event, if any Bonds applied for ts/ arcnot allottecl in full, the excess application m

onies of suchB

onds will be refunded, as m

ay be pelrnitted.

PA

N/G

IR N

umber

AII applicanb should m

ention their Perm

anent Account N

umber or the G

IR N

umber allotted under

IT A

ct and the Income T

ax Circle/ W

ard/ District. Lr case w

here neither the pAN

nor the GIR

Num

ber has been allotted, the fact of such a non-allotonent shoulcl be m

entionecl in the Application

Form

in the space provided.

Signatures

signatures should be made in E

nglish or in any of the Indian languages. Thum

b impressions m

ust beattested by an authorized official of a B

ank or by a Magistuate/ N

.trty public under his/her officialseal.

Nom

ination Facility

only individuals applying as sole applicant/joint applicant can nom

inate, in the prescribed manner,

aperson to w

hom his B

onds shall vest in the event of his death. Non-individuals including holders of

power of attom

ey cannot nominate.

Fictitious A

pplications

In terms of the section 38 of the C

ompanies A

ct,2013,any person who m

akeg in fictitious name, any

application to a body corporate for acquiring or subscribing to, the bonds, or otherwise induced. a

body corporate to allot, reglster any transfer of bonds therein to them or any other person in a

fictitious narne, shall be punishable under the extant laws.

xtll.

xlv.

xv

xvl.

of 108

xvll.

xvlll.

Private &

Confidential - N

ot for Circulation

Depository A

rrangements

Tlre Issuer has appointecl A

lankit Assignm

ents Lirnited, 205-208, Anarkali C

ornplex, Jhandewalan

Extensioru N

ew D

ell-Li- 110055, Tel.: 017 425472U

, Fax.:011 n55200'1, E

mail: sbi.igr@

alankit.com

Website: w

ww

.alankit.com.

as the Regishar for the present B

ond Issue. The Issuer has entered into

necessary clepository arangements w

ith NS

DL ancl C

DS

L for dematerialization of the B

onds offered

under the present Issue, in accordance with the D

epositories Act, 1996 and regulations m

ade there

under. ln this context, the Issuer has signed two tripartite agreem

enb as under:

Tripartite A

greement betw

een the Issuer, NS

DL and the R

egishar for dematerialization of the

Bonds offered undet the present Issue.

Tripartite A

greement betw

een the Issuer, CD

SL and the R

egiskar for dematerialization of the

Bonds offered under the present Issue.

a

Bondholders can hold the bonds only in d.em

aterialized form and deal w

ith the same as per the

provisions of Depositories A

ct, 1996 as amended from

time to tim

e'

Procedure for applying for D

emat F

acility

A. A

pplicant(s) must have a beneficiary account w

ith any DP

of NS

DL or C

DS

L prior to making the

application.

B. A

pplicant(s) must specify their beneficiary account num

ber and DP

ID in the relevant colum

ns of

the ApplicationF

orm.

C. F

or subscribing to the Boncls, rvrm

es in the application form should be identical to those

appearing in the account cletafu of the Depository. In case of joint holders, the nam

es should

necessarily be in the same sequence as they appear in the account details in the D

epository.

D. If incom

plete/ incorrect beneficiary account details are grven in the Application F

orm w

hich does

not match w

ith the details in the depository system, it w

itl be deemed to be an incom

plete

application ancl the same be held liable for rejection at the sole discretion of the B

ank.

E. T

he Bonds shall be directly credited to tl-re beneficiary account as given in the A

pplication Form

and after due verificatiorL the confirmation of the credit of the B

onds to the applicant's depository

account will be provided to the A

pplicant by the DP

of the Applicant'

F,

Interest or other benefits with respect to the B

onds would be paid to those bondholders w

hose

narnes appear on the list of beneficial owners grven by the depositories to the Issuer as on the

Record D

ate. In case, the beneficial owner is not identified by the depository on the R

ecord Date

due to any reason whatsoever,

the Issuer shall keep in abeyance the payment of interest or other

benefits, till such time the beneficial ow

ner is iclentified by the depository and intimated to the

Issuer. On receiving such intim

ation, the Issuer shall pay the interest or other benefits to tl-re

beneficiaries identified, within a period of 15 days from

the date of receiving such intimation.

G. F

or the allobment of d.ebentures and all future com

munications including notices, the address,

nomination details and other details of the applicant as registered w

ith his/her DP

shall be used

for all coresponclence with the applicant, T

he Applicant is therefore responsible for the

correcbress of his/her clemographic details grven in the A

pplication Form

vis-a-vis those with

his/her Dp. In case the inform

ation is incorrect or insufficient, the Issuer would not be liable for

the losses, if any

H. A

pplicants may please

note that the Boncls shall be allotted and traded on the stock exchange(s)

qlug

&

only in dematerialized form

.

*P

age 70 of 108

Private &

Confidential - N

ot for Circulation

4. O

thers

i. R

ight of Bondholder(s)

Bor-rdholder

is not a shareholder. The B

ondholders will not be entitlecl to any rights ancl privilege of

shareholders otl'rer than those available to them

under statutory requirements.

The B

ond(s) shall notconfer upon the holders the right to receive notice, or to attend and vote at the general m

eetings of theIssuer. T

he principal amount and interest on the B

onds will be paid to the registered B

ondholdersonly, and in case of Joint holders, to the one w

hose name stands first.

Besides the above, the B

onds shall be subject to the provisions of the terms of this Issue ancl the other

terms and conditions as m

ay be incorporated in the Debenture T

rusteeship Agreem

ent and otherdocum

ents that may be executed in respect of these B

onds.

ii. M

odification of Rights

The righb, privileges, term

s and conditions attached to the Bond.s m

ay be vatiecl, modified or

abrogated with the coruenf in w

riting of those holders of the Bonds w

ho hold at least three fourth ofthe outstanding am

ount of the Bonds or w

ith the sanction accorded pwsuant to a resolution passed at

a meeting of the B

ondholders, provided that nothing in such consent or resolution shall be operative

against the Issuer where such consent or resolution m

oclifies or varies the terms ancl conditions of the

Bonds, if the sam

e are not acceptable to the Issuer.

Further, the Issuer shall be entitled (w

ithout obtaining a prior approval from the B

ondholders) to

make any m

odifications in this Disclosure D

ocument w

hich in its opinion is of a formal, m

inor ortechnical nafure or is to correct a m

anifest error.

iii. F

uture Borow

ings

The Issuer shall be entitled to borrow

/ raise loans or avail of financial assistance in whatever form

asalso issue bonds/ debentures or other securities i. a.y nu[1ner w

ith ranking as senior or on paripassu basis or otherw

ise and to change ib capital structure, including issue of shares of any class orredem

ption or reduction of any class of paid up capital, on such term

s and conditions as the Issuerm

ay think appropriate, without the consent of, or intim

ation to, the Bondholder(s) or the T

rustees inthis connection-

In relation to the aforesaid, it is hereby clarified that such borrowing or raising of loans or availing of

financial assistance by the Bank m

ay be on such terms and conditions as the B

ank may deem

fit, inaccordance w

ith applicable lawt and m

ay be secured and/or uruecwed,

at the cliscretion of the Bank.

It is further clarified that such borrowing m

ay or may not be to enhance and/or to replace regulatory

capital.

iv. N

oticco

All notices required to be given by the Issuer or by the T

rustee to the Bondholders

shall be deemed to

have been given if sent by ordinary post/ courier /e-mail and,/ or any other m

ode of comm

unicationas m

ay be permittecl under applicable law

as per the discretion of the Issuer to the original sole/ firstallottees of the B

onds and/ or if an advertisement

is given in a leading newspaper.

qIUic

*

--

&

Page Z

of 108

Private &

Confidential - N

ot for Circulation

All notices required to be given by the B

ondholder(s), including notices referred to under "P

ayment of

Interest'' and "Pa)rm

ent on Redem

ption' shall be sent by registered post or by hand delivery to theIssuer or to such persons at such address as m

ay be notified by the Issuer from tim

e to time.

v.M

inimum

subscription

As the current issue of B

onds is being made on private placem

ent basis, the requirement of m

inilrumsubscription shall not be applicable and therefore ttre B

ank shall not be liable to refund. the issuesubscription(s)/proceed

(s) in the event of the total issue collection falling short of the issue size orcertain percentage of the issue size.

vi. U

nderwriting

The present issue of B

onds is not underwritten.

vii. D

eemed D

ate of Allotm

ent

All benefits under the B

onds and relating to the Bonds (including paym

ent of interest) will accrue and

be available to the Bondholders from

and including the Deem

ed. Date of A

llotunent. The actual

allotonent of Bonds m

ay take place on a date other than the Deem

ed Date of A

llohnent.

The B

ank reseryes the right to keep multiple date(s) of allotrnent / alloknent date(s) at its sole and

absolute discretion without any notice. In case if the issue closing date/ pay in dates is/are

changed (pre-poned/ postponed), the Deem

ed Date of A

lloknent may also be changecl (pre -pond/

postponed) by the Issuer atits sole and absolute discretion.

viii. C

redit of the Bonds

The beneficiary account of the investor(s) w

ith National S

ecurities Depository Lirnited

(NS

DL)/ C

entral Depository S

ervices (India) Limited (C

DS

L)/ DP

will be given initial credit

within 2 w

orking days from the D

eemed D

ate of Alloknent. T

he initial credit in the accountw

ill be akin to the letter of allotrnent. On com

pletion of the all statutory formalities, such creclit

in the account will be akin to a bond certificate.

ix. Issue of B

ond Certificate(s)

Subject to the com

pletion of all statutory formalities w

ithin time fram

e prescribed in therelevant regulations/A

ct/ rules etc., the initial credit akin to a letter of allohnent in the Beneficiary

Account of the investor w

ould be replaced with the num

ber of Bonds allotted. T

he Bonds since

issued in eleckonic (dematerialized) form

, will be govem

ed as per the provisions of The D

epositoryA

ct, 1996, Securities and E

xchange Board of India (D

epositories ancl P

articipanb) R

egulations, 1996,

rules notified by NS

DL/ C

DS

L/ DP

from tim

e to time and other applicable law

s and rules notifiecl inrespect thereof. T

he B,rnds slrtrll be allotted in dem

aterlall"ed form only.

x. M

arket Lof

The n'rarket lot w

ill be one Bond ('M

arket Lot''). Since the B

onds are being issued only indem

aterialized form, the odd lob w

ill not arise either at the time of issuance or at the tim

e of tuaruferof B

oncls-

&*

a{ruisDcpt.

*P

age 72 of 108

Private &

Confidential - N

ot for Circulation

xi. T

rading of Bonds

The m

arketable lot for the purpose of hading of Boncls shall be 1 (one) B

oncl of face value of Rs.10 lacs

each. Trading of B

onds would be perrnitted in dernat rnode only in standard clenom

ination of Rs.10

lacs and such trades shall be cleared and settled in recognized stock exchange(s) subject to conditionsspecfied by S

EB

I. In case of hading in Bonds w

hich has been made over the counter, the hades shall

be reported on a recognized stock exchange having a nationwicle hacling term

inal or such otherplafform

as m

ay be specified by SE

BI.

xii. M

ode of Transfer of B

onds

The B

onds shall be transferred subject to and in accord.ance w

itll the rules/ procedures as prescribed

by the NS

DL / C

DS

L/DP

of the hansferor/hansferee and any other applicable law

s and rules notifiedin respect thereof. T

he normal procedw

e followed for transfer of securities helcl in d.em

aterializeclform

shall be followed for transfer of these B

onds held in electronic form. T

he seller should givedelivery inshuctions containing detafu of the buyer's D

P account to his D

P. T

he hansferee(s) shouldensure that the harufer form

alities are completed prior to the R

ecorcl Date. In the absence of the sam

e,interest w

ill be paid/ redemption w

ill be made to the person, w

hose name appears in the records of

tlre Depository. In such cases, claim

s, rt arry,by the transferee(s) woulcl need to be settlecl w

ith thetransferor(s) and not w

ith the Bank.

xiii. C

omm

on Form

of Transfer

The Issuer undertakes

that it shall use a corunon form/procedure for transfer of B

onds issued underterm

s of this Disclosure D

ocument.

xiv. Interest on A

pplication Money

Interest at the Coupon R

ate (subject to deduction of income tax under the provisions of the IT

Act or

any other statutory modification

or re-enactrrent thereof, as applicable) will be paid to the applicants

on the application money for the B

onds for the period starting from and including the date of

realization of application money in the Issuer's bank account up to one day prior to the D

eemed D

ateof A

llohnent. The interest on application m

oney shall be payable by the Issuer through electuonicm

ode within 15 days from

the Deem

ed Date of A

llotrnent. In absence of complete bank details i.e.

correct/updated bank account number, IF

SC

/RT

GS

code/NE

FT

code ek., the Issuer shall be requiredto m

ake payment through cheques/ D

Ds or any other m

ocle of payment as per the discretion of the

Issuer. If the Pay-In D

ate and the Deem

ed Date of A

llotment fall on the sam

e date, interest onapplication m

oney shall not be applicable.

The B

ank shall not be liable to pay any interest in case of invalic{ applications or applications liable tobe rejected including applications

made by person w

ho is not an Eligible Investor.

xvInterest on the B

onds

The face value of the B

onds outstanding, after adjusknents and vyrite-off on account of ,,Loss

Absorbency" and other E

vents" mentioned in the S

umm

ary Term

Sheet, shall carry interest at the

coupon rate (subject to deduction of income tax under the provisions of the Incorne T

ax Act, 7967, or

any other statutory modification or re-enacfi.nent thereof, as

Sum

mary T

erm S

heet.in the

*qtrg

of 108

Private &

Confidential - N

ot for Circulation

The interest paym

ent shall be made through elech'onic m

ode to the Bondholclers w

hose names appear

on the list of beneficial owners given by the D

P to R

&T

A as on the R

ecord Date fixed by the B

ank inthe bauk account w

hich is linked to the demat of the bondholder. H

owever, in absence of conrplete

bank detafu i.e. correct/updated bank account nunrber, IFS

C/R

TG

S code/N

EF

T code etc., Issuer

shall be required to make paym

ent through cheques / DD

s or any other mode of payrnent as per the

discretion of the Issuer on the due date at the sole risk of the bondholders

Interest or other benefits with respect to the B

onds would be paid to those B

ondholders w

hose narnes

appear on the list of beneficial owners grven by the D

P to R

&T

A as on the R

ecord Date. In case the

beneficial owner is not identified by the depository on the R

ecord Date due to any reason w

hatsoever,

Bank shall keep in abeyance the pay.rnent of interest or other benefits, till such tim

e the beneficialow

ner is identified by the depository and intimated to the B

ank. Bank shall pay the interest or other

benefits to the beneficiaries identified, within a period of 15 days from

the date of receiving suchintim

ation. Bank w

ill not pay interest or any amount in w

hatever name for the intervening period

from R

ecord Date to the actual date of paym

ent of interest.

xvi. P

ayment on R

edemption

The B

ond will be redeem

ed on the expiry of the number of years/m

onths as specified in the S

umrnary

Term

Sheet from

the Deem

ed Date of A

llobnent or on such earlier date on exercise of call option.

The redem

ption proceeds shall be made through elechonic m

ode to the bondholders whose nE

unes

appear on the list of beneficial owners grven by the D

P to R

&T

A as on the record date fixed by the

Bank in the bank account w

hich is linked to the demat of the bondholder. H

owever, in absence of

conrplete bank details i.e. correct/updated bank account num

ber, IFS

C/R

TG

S

code/NE

FT

code etc.,

The Issuer shall be required to m

ake payment through cheques / D

Ds or any other m

ode of pal.rnentas per the discretion of the Issuer on the due date at the sole risk of the bondholders.

The redem

ption proceeds shall be paid to those Bondholders w

hose ncunes appear on the list ofbeneficial ow

ners glen by the DP

to R&

TA

as on the record date fixed by the Issuer for the purposeof redem

ption. In case the beneficial owner is not identified by the depository on the record date due

to any reason whatsoever, issuer shall keep in abeyance the paym

ent of redemption proceeds, till such

time the beneficial ow

ner is identified by the depository and intimated to R

&T

A. Issuer shall pay the

redemption proceeds to the beneficiaries identified w

ithin 15 days of receiving such intimation. Issuer

will not be liable to pay any interesf incom

e or compensation of any kind in w

hatever name for the

intervening period from record date to the actual date of paym

ent of redemption proceeds, in such

cases where the D

P does not identify the beneficial ow

ner on the record date.

xvii. R

ight to further issue under the ISIN

s

The Issuer reserves right to effect m

ultiple issuances under the same IS

IN w

ith reference to SE

BI

Circular C

IR/IM

D/D

F-1,/ 67 /2017 datedJune 3Q

2017 as amended ('F

irct ISIN

Ctuculal') and S

EB

I

Circular C

IR/D

DF

IS/P

/59/2018 dated M

arch 28,2018, as amended or €m

y other applicable laws or

regulations from tim

e to time ("S

econd ISIN

Circula/', together w

ith the First IS

IN C

ircular, the"IS

IN C

irculars").

The Issue can be m

ade either by way of creation of a flesh IS

IN or by w

ay of issuance under the

:\qlrg

&

existing ISIN

at premium

, par or discount as the case may be in line

*P

age 74 of 108

Private &

Confidential - N

ot for Circulation

xviii. R

ight to Re-purchase, R

e-issue or Consolidate the B

onds

The Issuer w

ill llave power, exercisable at its sole and absolute discretion from

time to tim

e, to re-

purchase a part or all of its Bonds frorn the secondary m

arkets or otherwise,

at any time prior to the

Redem

ption Date, subject to applicable law

and in accordance with the applicable guidelines or

regulations, if any.

In the event of a part or all of the Issuer's Bonds being repurchased as aforesaid or redeem

ed under

any circumstances w

hatsoever, the Issuer shall have, and shall be deemed alw

ays to have had, the

power to re-issue the B

onds either by re-issuing the same B

onds or by issuing other debenhrres in

their place. The Issuer shall have right to consolidate

the Bonds under present series in accordance

with applicable law

.

Further the Issuer, in respect of such re-purchased or re-deem

ed Bonds shall have the pow

er,

exercisable either for a part or all of those B

onds, to cancel, keep alive, appoint norninee(s) to hold or

re-issue at such price and on such terms and conditions as it m

ay deem fit and as perm

itted under the

ISIN

Circulars

or by laws or regulations.

xix. D

eduction of Tax at S

ource

Tax as applicable under the IT

Act or any other statutory m

odification or re-enachnent thereof will be

deducted at source out of interest payable on Bonds.

Interest payable subsequent to the Deem

ed Date of A

llotrnent of Bonds shall be beated as "Interest on

Securities"

as per Income T

ax Rules. B

ondholders desirous of claiming exem

ption from deduction of

income tax at source on the interest payable on B

onds should submit tax exem

ption certificate/

documen! under S

ection 193 of the IT A

ct, if any, with the R

egistrars, or to such other person(s) at

such other address (es) as the Issuer may specrfy from

time to tim

e through suitable comm

unicatioo

at least 45 days before the paynent becoming due. R

egarding deduction of tax at source and the

requisite declaration forms to be subm

itted, applicants are advised to consult their own tax

consultant(s).

xx. List of B

eneficial Ow

ners

The Issuer shall request the D

epository to provide a list of B

eneficial Ow

rrers as at the end of the

Record D

ate. This shall be the list, w

hich shall be considered for payment of interest or repaym

ent of

principal amount, as the case m

ay be.

xxi. S

uccession

In the event of the demise of the sole/first holder of the B

ond(s) or the last survivor, in case of joint

holders for the time being the Issuer shall recognize the executor or adm

inistrator of the deceased

Bondholder or the holder of succession certificate or other legal representative

as having title to the

Bond(s).T

he Issuer shall not be bound to recognize such executor or administrator, unless such

executor or adminishator

obtains probate, wherever it is necessary, or letter of adm

inistration or such

holder is the holder of succession certificate or other legal representatioo as the case m

ay te, from a

court in India having jurisdiction over the matter. T

he Issuer may, in its absolute discretiorL w

here itthinks fiC

dispense with production of probate or letter of aclm

inistration or succession certificate or

qlug&

*

the Bond(s)sianding

other legal representatiorL in order to recognize such holder as being

Dept,

of 108

Private &

Confidential - N

ot for Circulation

in the name of the deceased B

ondholder on production of sfficient docum

entary proof or indemnity

Non -resideut Indians w

ho becorne enfitled to the Bonds by w

ay of succession sha]l ensure that theycornply w

ith all such procedures ancl compliances

as rnay be requiled under the Foreign E

xchangeM

anagement A

ct, 1999 and the rules made thereunder, the relevant R

BI guidelines and other

applicable laws for them

to become the beneficial holders of the B

onds.

xxii. Joint - H

olders

Where tw

o or more persolrs are holders of any B

ond(s), they shall be deemed to hold the sam

e as jointtenants w

ith benefits of survivorship subject to provisions contained in the Com

panies Act ancl the

amendm

ents there to.

xxiii. D

isputes and Governing Law

The B

onds are govemed by and shall be construed in accordance w

ith the edsting laws of Lrdia. A

nydispute arising thereof shall be subject to the jurisdiction

of courts of Mum

bai, Maharashtra.

xxiv. Investor R

elations and Grievance R

edressal

Arrangem

ents have been made to redress investor grievances expeditiously

as far as possible. The

Issuer shall endeavor to resolve the investor's grievances within 30 days of its receipt. A

ll grievancesrelated to the issue quoting the application num

ber (including prefix), number of B

onds applied for,am

ount paid on application and detafu of collection centre where the A

pplication was subm

itted,m

ay be addressed to the Com

pliance Officer at registered office of the Issuer. A

ll investors are hereby

informed that the Issuer has designated

a Com

pliance Officer w

ho may be contacted in case of any

pre-issue/ post-issue related problems such as non-credit of letter(s) of allohnent/ bond certificate(s)

in the demat account etc. C

ontact details of the Com

pliance Officer are glven elsew

here in thisD

isclosure Docum

ent.

Material C

onkacts and Agreem

ents involving Financial O

bligations of the Issuer

By very nature of its business, the B

ank is involved in a large number of transactions involving

financial obligations and therefore it may not be possible to furnish details of all m

aterial contracts andagreem

ents involving financial obligations of the Bank. H

owever, the contracb referred to in P

ara Abelow

(not being conkacts entered into in the ordinary cotuse of the business carried on by the Bank)

which are or m

ay be deemed to be m

aterial that have been entered into by the Bank. C

opies of thesecontracts m

ay be irspected at the Cenkal O

ffice of the Bank betw

een 10.00 a.m. and 2.00 p.m

. on anyw

orking day until the issue closing date.

A. M

aterial Contracts and D

ocuments

Letter appointing Regiskars and copy of M

oU entered into betw

een the Bank and the R

egishars.Letter appointing T

ructccs to the Issue.

The S


ct 1955.C

omm

ittee of Director R

esolution of the meeting held on N

ovember 76,2019 authorizingissue

ofB

onds offered under terms of this D

isclosure Docum

ent.Letter of consent from

the Trustees to act as T

rustees to the Issue.Letter of consent from

the registrars for acting as regiskars to theIn-principle A

pproval for listing of Bonds by B

SE

and NS

E.

xxv,a.

b,c.d.

e.

f.ob'

of 108

Private &

Confidential - N

ot for Circulation

h. Letter from

CR

ISIL and IC

RA

conveying the credit rating for the Bonds.

i. T

ripartite Agreem

ent between the Issuer, N

SD

L and Regishars for issue of B

onds in

dematerialized

form'

j. T

ripartite Agreem

ent between the Issuer, C

DS

L and Registrars for issue of B

onds in

demabrialized form

.

k. A

nnual Report along w

ith Audited financials and A

udit Reporb for the last three financial years.

L F


ear ended Septem

ber 30,2019

ilrg*

&*

stirr

Page77 ofL08

P. Issue D

etails

Sum

mary T

erm S

heet:

Nature of Instrum

ent

Security N

ame

Series II

Series

Perpetual, T

axable, Subordinated, U

nsecured Basel

Issuer/Bank

Type /

Nature of

Inshument

8.50% S

BI A

T1

Private &

Confidential - N

ot for Circulation

State B

ank of India

III compliant A

dditional Tier 1 B

onds in the nature of debentures offace value R

s.10 lacs each

The B

onds are neither secured nor covered by a guarantee of the Bank

nor related entity or other arrangements that legally or econom

icallyenhances the seniority of the claim

of the Bondholder vis-d-vis other

creditors of the Bank.

Unsecured

Non-convertible,

The claim

s of the Bondholders shall -

(0 be superior to the claims of investors in equity shares ancl

perpetual non-cumulative preference shares issued by the

Bank;

(ii) be subordinated to the claims of depositors, general creditors

and subordinated debt of the Bank other than any

subordinated debt qualifying as Additional T

ier 1 Capital;

(iii) neither be secured nor covered by any guarantee of theIssuer or its related entity or other arrangem

ent that legally

or economically enhances the seniority of the claim

of theB

ondholders ais -i-ais creditors of the Bank;

(iv) unless the terms of

any subsequent issuance ofbonds/debentures by the B

ank specifies that the claims of such

subsequent bond holders are senior or subordinate to theB

onds issued under this disclosure document ("D

isclosureD

ocument") or unless the R

BI specifies otherw

ise in itsguidelines or regulations, the claim

s of the Bondholders shall

be pari passu with claim

s of holders of such subsequentdebentures/bond

issuances of the Bank;

(v) rank pari passu without preference am

ongst themselves.

Additional T

ier 1 capital shall have the meaning ascribccl to such

terms under the B

asel III Guidelines.

Seniority

Notw

ithstanding anything to the conkary stipulated hereio the claims

of the Bondholders shall be subject to the provisions of C

ouponD

iscretioo Loss Absorbency and O

ther Events m

entioned in this

of 108

Private &

Confidential - N

ot for Circulation

Mode of Issue

Type of B

idding

Manner of A

llotment

The B

onds shall not contribute to liabilities exceeding assets of theB

ank if such a balance sheet test forms part of a requirem

ent to proveinsolvency under any law

or otherwise.

Disclosure D

ocument and this S

umm

ary Term

Sheet.

Private P

lacement

Closed B

idding

Uniform

Coupon

The follow

ing class of investors are eligible to participate in the offer(being " E

ligible Investors"):

(i)M

utual Funds, P

ublic Financial Institutions as defined in

section 2(72) of the Com

panies Act, 2013;

Scheduled C

omm

ercial Banks;

Insutance Com

panies;

Provident F

unds, Gratuity F

unds, Superannuation F

undsand P

ension Funds;

Co -operative B

anks;

Regional R

ural Banks authorized to invest in bonds/

debenfures;

Com

panies and Bodies C

orporate authorized to invest inbonds/ debentures;S

ocieties authorized to invest in bonds/ debentures;T

rusts authorized to invest in bonds/ debentures;S

tatutory Corporations/ U

ndertakings established byC

enkal/ State legislature authorized to invest in bonds/

debentures;

Foreign P

ortfolio Investors ("FP

Is")*; andA

ny other person eligible to invest in the issue.

Resident Individual Investors;

Foreign N

ationals;any related party over w

hich the Bank exercises control or

significant influence (as defined under the relevantaccounting standards (" A

ccounting Standards" );

Persons resident outside India;

Venture C

apital Funds, A

lternative Investment F

unds,

Overseas C

orporate Bodies;

Partnership firm

s formed under applicable law

s in India inthe nam

e of the partners;H

indu Undivided F

amilies through K

arta; and

Person ineligible to contract under applicable statutory/

regulatory requirements.

(ii)(iii)(i")

Eligible Investors

(")("i)

("ii)

(viii)(i*)(x)

(*i)(*ii)

("i)

The follow

ing class of investors are not eligible to participate in theoffer:(i)

(ii)(iii)

(i")(")

(vii)("iii)

*qlrg

&*

of 108

Private &

Confidential - N

ot for Circulation

*Investment by F

PIs in these

Bonds raised in Indian R

upees shall bew

ithin an overall limit of 49%

of the issue size subject to the restrictionthat investm

ent by each FP

I shall not exceed 1,0% of the issue size.

Further, Investm

ent by FP

Is in these Bonds raised in Indian R

upeesshall be subject to com

pliance with term

s and conditions stipulated bythe R

BI, S

EB

I or any other regulatory authorities on investment in

these Bonds.

The issuance being a private placem

ent through the Electronic B

iddingP

latform of B

SE

, the investors who have bid on their ow

n account orthlougl-r arrangers, if any, appointed by Issuer, in the issue through thesaid plafform

and in compliance w

ith SE

BI circulars on the above

subject and BS

E E

BP

operating guidelines are only eligible to apply.A

ny other application shall be at the sole discretion of the Issuer.

Further, notw

ithstanding anything contained above, only eligibleinvestors w

ho have been addressed through the application form are

eligible to apply

Prior to m

aking any investment in these B

onds, each Eligible Investor

should satisfy and assure himself/herself/itself that he/she/it is

authorized and eligible to invest in these Bonds. T

he Bank shall be

under no obligation to verify the eligibility/authority of the E

ligibleInvestor to invest in these B

onds. Further, m

ere receipt of theD

isclosure Docum

ent (and/ or any Transaction D

ocument in relation

thereto andf or any draft of the Transaction D

ocuments and/or the

Disclosure D

ocument) by a person shall not be construed as any

representation by the Bank that such person is authorized to invest in

these Bonds or eligible to subscribe to these B

onds. If after applying forsubscription to these B

onds and/or allotment of B

onds to any person,such person becom

es ineligible andf or is found to have been ineligibleto invest in/hold these B

onds, the Bank shall not be responsible in any

manner

Notw

ithstanding any acceptance of bids by the Bank on andf or

pursuant to the bidding process on the Electronic B

ook Plafform

, (a) if

a person/ in the Bank's view

, is not an Eligible Investor, the B

ank shallhave the right to refuse allotm

ent of Bonds to such person and reject

such person's application; (b) if after applying for subscription to these

Bonds and/or allotunent of B

onds to any persoo such person becomes

ineligible andf or is found to have been ineligible to invest in/holdthese B

onds, the Issuer shall not be responsible in any manner,

Listing

total issue size not exceeding Rs. 3,895.20 crores w

ith a base

Rating

Issue Size

On the debt segm

ent of NS

E and/or B

SE

Stable outlookby IC

RA

Limited

AA

+/S

table" by CR

ISIL R

atings and "ICR

A A

A+

(hyb)" with

issue size of Rs. 1,500 crore and a green-shoe option to retain

oversubscription up to Rs. 2,395.20 crore.

Aggregate

"CR

ISIL

*e)qr w

qpis':'*

of 108

Option

to retain

oversubscription

Coupon R

ate

Objects of the Issue

Paym

ent

Details of U

tilization offunds

Coupon R

eset Process

(including rates,

spread, effective date,

interest rate cap and

floor etc.)

Yes. G

reen-shoe option to retain oversubscriptionup to R

s. 2,395.20 crores.

Private &

Confidential - N

ot for Circulation

Augm

enting Additional T

ier 1 Capital and overall capital of the B

ank

for shengthening its capital adequacy and for enhancing its long-termresources in accordance w

ith RB

I Guidelines.

Step U

p/Step D

own

Coupon R

ate

The B

ank shall utilize the proceeds of the issue for augmenting

Additional T

ier L Capital and overall capital of the B

ank forstrengthening its capital adequacy and for enhancing its long-termresources in accordance w

ith RB

I Guidelines.

Coupon

Frequency

Sam

ple interest calculation is provided in the Disclosure D

ocument in

Annexrrre

TV

Coupon P

ayment D

ates

Coupon T

ype

8.50% p.a. subject to "C

oupon Discretion", "Loss A

bsorbency" and"O

ther Events" m

entioned in this Sum

mary T

erm S

heet.

Not A

pplicable

Annual

Novem

ber 22, every year till redemption of bonds

Fixed

Not A

pplicable

The interest for each of the interest periods shall be com

puted as per

Actual / A

ctual day count conversion (as per the SE

BI C

ircular datedO

ctober 29,2013 bearing reference CIR

/IMD

/DF

/1,8/2013) on the facevalue/principal outstanding after adjusknents and w

rite-off onaccount of "Loss A

bsorbency" and "O

ther Events" m

entioned in thisS

umm

ary Term

Sheet, at the C

oupon Rate rounded off to the nearest

Rupee.

The Interest P

eriod means each period beginning on (and including)

the Deem

ed Date of A

llohnent or any Coupon P

ayment D

ate andending on (but excluding) the next C

oupon Paym

ent Date/ C

allO

ption Date (if exercised). It is clarified that in case of C

oupon

payment in a leap year, the sam

e shall be calculated taking the number

of days as 366 (three hundred and sixty six) days (as per the SE

BI

Circular dated N

ovember 1.1., 2016 bearing reference C

IR/IM

D/D

F-

1./1.22/201,6).

Business D

ayC

onvention/ Effect of

Holidays

Day C

ount Basis

'Business D

ay' shall be a day on which com

mercial banks are open for

business in the city of Mum

bai, Maharashtra and w

hen the money

market is functioning in M

umbai. If the date of paym

ent ofinterest/redem

ption of principal does not fall on a Business D

ay, the

payment of interest/principal

shall be made in accordance w

ith SE

BI

*qP

.i,DeP

t.

*P

age 81 of108

Interest on Application

Money

Private &

Confidential - N

ot for Circulation

Circular C

IR/ IM

D/ D

F -7 /'122 / 2016 dated N

ovember 11, 2016

If any of the Coupon P

ayment D

ate(s), other than the ones falling onthe redem

ption date, falls on a day that is not a Business D

ay, thepaym

ent shall be made by the Issuer on the irnm

ediately succeeding

Business D

ay, which becom

es the coupon payment date for that

coupon. How

ever, the future coupon payment date(s) w

ould be as perthe schedule originally stipulated at the Lim

e of issuing the Boncls. In

other words, the subsequent coupon paym

ent date(s) would not be

changed merely because the paym

ent date in respect of one particularcoupon paym

ent has been postponed earlier because of it having fallenon a non-B

usiness Day.

Reden'Lption A

mourlt

If the redemption date of the B

onds falls on a day tl-rat is not a Business

Day, the redem

ption amount shall be paid by the Issuer on the

imm

ediately preceding Business D

uy which becom

es the newredem

ption date, along with interest accrued on the B

oncLs until butexcluding the date of such paym

ent.

the provisions of the Income T

ax Act, 1961,, or any other stafutory

modification or re-enactm

ent thereof, as applicable) will be paid to the

applicants on the application money for the B

onds for the perioclstarting from

and including the date of realization of applicationm

oney in the Issuer's bank account up to one day prior to the date ofallotrnent. If the P

ay-In Date and the D

eemed D

ate of Allotunent fall on the

same date, interest on application m

oney shall notbe applicable.

at the Coupon R

ate (subject to deduction of income tax under

Interest

Default Interest R

ate

The B

ank shall not be liable to pay any interest in case of invalidapplications or applications liable to be rejected including applicationsm

ade by person who is not an E

ligible Investor.

If the Bank fails to execute the trust deed w

ithin three months of the

closure of the issue, the Bank shall pay additional interest at2%

p.a. tothe debenfure holders, over and above the agreed coupon rate, till theexecution of the hust deed.

on the due dates, additional interest at 2% p.a. over the C

oupon Rate

will be payable by the Issuer for the defaulting period. H

owever, any

non-payment of interest and /

or principal on account of RB

Iguidelines on B

asel III capital regulations, Coupon D

iscretion, LossA

bsorbency and other events of this Sum

mary T

erm S

heet, no suchdefault interest shall be payable.

Tenor

Redem

ption Date

In case of defaultin paym

ent of Interest andf or principal redemption

Perpetual

Not A

pplicable

How

ever, in case of redemption due to exercise of C

all

*R

)qqqT

ug

&

Not A

pplicable

Option or

of 108

Prem

ium/D

iscount onredernption

Issuer Call O

ption/Call

Option

Regulatory C

all

Issue Price

otherwise in accordance w

ith RB

I guidelines, the Bonds shall be

redeemed at par along w

ith interest accrued till one day prior to theC

all Option D

ate subject to adjusknents and/or write-off on account of

"Loss Absorbency" &

"Other E

vents" as mentioned

ir-r this Surnm

ary

Tern'L S

heet.

Discount

on Issue

At par (R

s.10 lacs per Bond)

Put O

ption Date

Put O

ption Price

Nil

Private &

Con{idential - N

ot for Circulation

Nil

Not A

pplicable

Not A

pplicable

The B

ank may, at its sole discretion but subject to the "C

ondition for exerciseof C

all Option', elect to exercise a call on the B

onds (in whole) on N

ovember

?2,2024 peing the 5th anrdversary of the Deem

ed Date of A

llofinent] or any

aru:riversary date thereafter (the "Issuer Call D

ate")

If there is any change in, or amendm

ent to, the laws affecting taxation

(or regulations or rulings promulgated thereunder) in India or any

change in the official application of such laws, regulations or rulings (a

"Tax E

vent") Issuer rnay, at its option, redeern the Bonds, in w

hole at aredem

ption price equal to outstanding principal amount subject to

adjustment on account of "Loss A

bsorbency" and "Other E

vents"m

entioned in this Sum

mary T

erm S

heet, together with any accrued but

unpaid interest to @ut excluding) the date fixed for exercising a C

allO

ption on such Bonds. A

ny redemption upon the occurrence of a T

axE

vent will be subject to the provisions described under "C

allN

otification Tim

e" and conditions (ii) and (iii) enumerated under

"Condition for exercise of C

all Option".

Tax C

all

RB

I may perm

it the Issuer to exercise the Tax C

all only if the RB

I isconvinced that the Issuer w

as not in a position to anticipate the Tax

Event at the tim

e of issuance of the Bonds and if the B

ank

demonstrates to the satisfaction of R

BI that the B

ank's capital positionis w

ell above the minim

um capital requirem

ents after the Call O

ptionis exercised.

If there is a change in the regulatory classification of the Bonds that

occurs on or after the issue date of the Bonds (a "R

egulatory Event"),

Issuer may, at its optiory redeem

the Bonds, in w

hole at a redemption

price equal to outstanding principal amount subject to adjustrnent on

account of "Loss Absorbency"

and "Other E

vents" mentioned in this

Sum

mary T

erm S

heet, together with any accrued but unpaid interest to

(but excluding) the date fixed for exercising Call O

ption on suchB

onds. Any redem

ption upon the occurrence of a Regulatory E

ventw

ill be subject to the provisions described under "Call N

otificationT

ime" and conditions (ii) and (iii) enum

erated under "Condition for

exercise of Call O

ption".

*iq-{

&

De

of 108

qPg firtl

Condition for exercise of

RB

I may perm

it tl're Issuer to exercise the Regulatory C

all only if theR

BI is convinced that the Issuer w

as not in a position to anticipate theR

egulatory Call at the tim

e of issuance of the Bonds and if the B

ank

demonstrates to the satisfaction of R

BI that the B

ank's capital position

is well above the m

inimum

capital requirements after the C

all Option

is exercised.

Call O

ption

Private &

Confidential - N

ot for Circulation

Exercise of a call option by the B

ank will be subject to all the conditions

mentioned below

:

(i) T

he Call O

ption can be exercised only after a minim

um of five

years frorn the Deem

ed Date of A

llotment;

(i0 To exercise a C

all Option the B

ank shall require prior approvalof R

BI; and

(iii) Bank shall not exercise a call unless

:

Call N

otification Tim

e

Call O

ption Date

(a) The B

ond is replaced with capital of the sam

e or betterquality and the replacem

ent of this capital is done atconditions w

hich are sustainable for the income capacity of the

Bank; or

(b) The B

ank demonstrates that its capital position is w

ellabove the rninim

um capital requirem

ents after the Call O

ptior-r

is exercised.

Call O

ption Price

Put N

otification Tim

e

Novem

ber 22, 2024, or any anniversary date thereafter, subject to Tax C

all

/ Regulatory C

all.

In case of Tax C

all or Regulatory C

all, the date may be as specified in

the notice to debenture trustees.

1. B

icl Opening/ C

losing

At par, along w

ith interest accrued till one day prior to the Call O

ptionD

ate subject to adjustments and/ or w

rite-off on account of "Coupon

Discretion", "Loss A

bsorbency" & "O

ther Events" m

entioned in thisS

umrnary T

erm S

heet.

Date:

2. Issue O

pening/C

losing Date:

3. P

ay-in Date:

4. D

eemed D

ate of

Face V

alue

Minim

um A

pplication

Not A

pplicable.

IssueTim

ing:

Any redem

ption of the Bonds on account of exercise of C

all Option i.e.

Issuer Call, T

ax call and Regulatory C

all shall be subject to the Issuergrving not less than tw

enty one (21) calendar days prior notice to theB

ond holders and Debenture T

rustee.

Rs. 10 Lacs per B

ond

1 Bond and in m

ultiples of 1 Bond thereafter

6llli

qIrii*

Shares

&

of 108

Novem

ber 20,2019

Novem

ber 22,2019

Novem

ber 22,2019

Novem

ber 22,20"19

Depository

Allobnent:

Private &

Confidential - N

ot for Circulation

Issuance mode

Trading M

ode

Settlem

ent

Limited and C

entral DeP

ositorYS

ettlement C

ycle for EB

P

Coupon P

ayment D

ate / Call O

Ption

In Dem

at mode onlY

will be considered

as Record D

ate.

the documents including but

In Dem

at mode onlY

of credit through direct credit/ National E

lectronic Clearing

service/RT

Gs/ N

EF

T m

echanism or any other perm

itted method at

the discretion of the Issuer.

Paym

ent of interest and repayment

Record D

ate

documents are executed/

Security

T+

2

National S

ecurities DeP

ositorY

Services (lndia) Lim

ited.

Date or the R

edemption D

ate (as the case may be)' In the event the

Record D

ate falls on a day which is not a B

usiness Day, the

of principal shall be made bY

waY

15 calendar days Prior to each

succeeding Business D

aY

Unsecured

The Issuer has executed/ shall execute

not limited to the follow

ing in connection with the issue:

1. Letter appointing ID

BI T

rustee as Trustees to the B

ondholders;

2. D

ebenture Trusteeship A

greement/ B

ond Trustee A

greernent /D

ebenture Trust D

eed (as required);

3. Rating Letter from

rating agency CR

ISIL Lim

ited and ICR

A

Limited;

4. Tripartite A

gteement betw

een the Issuer, Registrar and N

SD

L for

issue of Bonds in dem

aterialized form;

5. Tripartite A

greement betw

een the Issuer, Registrar and C

DS

L for

issue of Bonds in dem

aterialized form;

6. Letter appointing R

egistrar and MoU

entered into between the

Issuer and the Registrar;

7. ListingAgreem

entwithB

sE andf or N

SE

; and

8. T

he Disclosure D

ocument w

ith the application form'

Transaction docum

ents

Conditions precedent to

subscription of Bonds

allobnentby the Bank, subject to the follow

ing:

a) RatingLettersfrom

CR

ISIL

Limited and IC

RA

Limited notm

ore

than one month old from

the Issue Opening D

ate; and

b) C

onsent Letter from the T

rustees to act as Trustee to the

Bondholder(s).

The subscription from

aPP

licants

Conditions subsequent to

subscription of Bonds

activities are completed

as per terms of the D

isclosure Docum

ent:

a) creclit of Dernat A

ccount(s) of the Allotbe(s) by num

ber of Bonds

The B

ank shall ensure that the

shall beaccepted for allocation and

allotted within 2 B

usiness following

from the D

eemed D

ate of

*P

age 85 of 108q,N

g0

Dbpl.

Delay in Listing

Events of D

efault

Allotm

entb)

Making application to B

SE

andf or NS

E w

ithin 15 days from the

Deem

ecl Date of A

lloknent to list the Bonds and seek listing

permission w

ithin 20 days from the D

eemed D

ate of Alloknent'

Role and R

esponsibilities

of Trustees to the Issue

Treatrnent in B

ankruptcy/

Liquidation

Private &

Confidential - N

ot for Circulation

In case of delay in listing beyond 20 daysallotrnent, the B

ank shall pay penal interest of atleast at the rate of 'L % p.a.

over the coupon rate from the expiry of 30 days from

the deemed date of

allohrent till the listing

The B

ondholders shall have no rights to accelerate

scheclulecl payments (coupon or principal) except in bankruptcy and

liquidation of the Issuer. It is further clarified that cancellation ofdiscretionary paym

ents or any exercise of Coupon D

iscretiorL Loss

flohibition on Purchase /

Funding of B

onds

etc. shall not be deemed to be an event of default.

The B

ondholders shall have no rights to accelerate

scheclulecl payments (coupon or principal) except in bankruptcy and

liquidation of the Issuer. The B

ond will not conkibute to liabilities exceeding

assets of the Bank if such a balance sheet form

s part of a requirement to

Cross D

efault

of such debt securities to the investor

Absorbency

security of the Bonds issued bY

it.

Not A

pplicable

of India (D

ebentwe T

rustees)

insolvency under any law or otherw

ise.

Neither the B

ank nor its related party over which the

or significant influence (as defined under relevant Accounting standards)

shall purchase the Bonds, nor shall the B

ank dir""tly or indirectly fund the

purchase of the Bonds. T

he Bark shall also not grant advances against the

from the deem

ed date of

prove

cancel Coupon

Bank shall have fuIl access to

the repayment of future

The T

rustees shall perform its duties

rights and discretions, in keeping with the trust reposed in the T

rustees by

the Bonclholclers and shall further conduct itself, and com

ply with the

provisions of all applicable laws, provided tha! the provisions of section 20

of the Indian Trusts A

ct, 1882, shall not be applicable to the Trustees. T

he

Trustees shall carry out its duties and perform

its functions as required to

discharge its obligations under the terms of the S


Boarcl of India (lssue and Listing of D

ebt securities) Regulations, 2008, the

Regulations, 1993, the D

ebenture Trusteeship A

greement

Disclosure

Docum

ent ancl all other related Transaction

Docunents, w

ith due care and

the repayment of future

Securities

Coupon D

iscretion

Bank exercises control

diligence.The B

ank sl'rall have full cliscretion at all times to

either in part or full. On cancellation

of payment of C

oupon, these

payments shall be extinguished, and the B

ank shall have no

obligation to make any distribution/C

oupon paym

ent in cash or

kind.T

he Bonds do not carry a'dividend pushel feature i.e. if the B

ank

makes any pa).rnent (coupon/dividend) on any other capital

instrument or share, the B

ank shall not be obligated to make

Coupon paym

ent on the Bonds;

Cancellation

of Coupon shall not be,an event of default.

(r1)

(-)(i")

and Exchange B

oard

and obligations and exercise its

(t

lJc;

of 108

e)or'{

obligations

qlugl

&

(u)

("i)

Private &

Confidential - N

ot for Circulation

as they fall due

Cancellation of C

oupon shall not impose any restrictions on the

Bank except in relation to distributions to com

mon stakeholders.

Coupons, unless cancelled by the B

ank, shall be paid out ofdishibutable item

s. In this context, Coupon m

ay be paid out ofcurrent year profits. H

owever, if current year profits are not

sufficient, Coupon m

ay be paid subject to availability of:a.

Profitsbroughtforw

ard fromprevious years, and/or

b. R

eserves representing appropriation of net profits,including stafutory reselves/ and excluding shareprem

ium, revaluation reserve, foreign cuffency hanslation

reserve, invesknent reserve and reserves created onarnalgam

ation.

The accum

ulated losses and deferred revenue expenditure, if any,

shallbe netted offfrom (a) and (b) to arrive at the available balances

for payment of C

oupon.

If the aggregate of: (i) profits in the current year; (ii) profib broughtforw

ard from the previous years and (iii) perm

issible reserves as at(b) above, excluding stahrtory reserves, net of accum

ulated lossesand deferred revenue expenditure are less than the am

ount ofcouporL only then the B

ank shall make appropriation from

thestatutory reserves. In such cases, banks shall report to the R

eserve

Bank w

ithin twenty-one days from

the date of such appropriationin com

pliance with S

ection 17Q) of the B

anking Regulation A

ct1949.

How

ever, payment of C

oupons on the Bonds from

the reseryes issubject to the B

ank meeting m

inimum

regulatory requirements for

Com

mon E

quity Tier 1, T

ier 1 and Total C

apital ratios including theadditional capital requirem

enb for Dom

estic System

icallyIm

portant Banks at all tim

es and subject to the restrictions underthe capital buffer fram

eworks

(i.e. capital conservation buffer andcounter cyclical capital buffer in term

s of paragraphs 15 and 17respectively

of the Basel III G

uidelines

(vrr) C

oupon on the Bonds shall not be cum

ulative. ff Coupon is

cancelled or not paid or paid at a rate lesser than the Coupon R

ate,

such unpaid and/or cancelled Coupon w

ill not be paid in futureyears.

Dividend S

topper

*

If any interest is cancelled, then from the date of w

hich such cancellation hasfirst been notified (a "D

ividend Stopper D

ate"), the Bank w

ill not:

(l) D

eclare or pay any discre[onary dishibution or dividend or make

any other payment on, or directly or indirectly redeem

, purchase,

cancel reduce or otherwise acquire its C

onrmon E

quity Tier 1

YR

{{.IIE

g.

&

of 108

Private &

Confidential - N

ot for Circulation

Capital (other than to the extent that any such distributiorr,

dividend or other payment is declared before such D

ividend

Stopper D

ate or where the term

s of the instrument do not at the

relevant time enable the B

ank to cancel or defer such payment); or

(ii) P

ay discretionary interest or any other distribution

on, or directly or

indirectly redeem, purchase, cancel reduce or othenvise acquire,

any of its instruments or securities ranking as to the right of

payment of dividerrd, distributions or sim

ilar payments, pari passu

with the B

onds (excluding secwities the term

s of which stipulate

mandatory redem

ption).

In each case unless or until (i) the occunence of the next Coupon P

ayment

Date, follow

ing the Dividend S

topper Date, on w

hich payment of C

oupon

amount has resum

ed and such Coupon (payable on such C

oupon Paym

ent

Date) has been paid in fnll, or (ii) the prior approval of the B

ondholders has

been obtained uia an extuaordinary resolution (as per the mechanism

stipulated in the Debenture T

rust Deed). It is hereby clarified that C

oupon

on the Bonds shall not be cum

ulative. If Coupon is cancelled or not paid or

paid at a rate lesser than the Coupon R

ate, such unpaid and/ or cancelledC

oupon will notbe paid in future years.

For the avoidance of doubt, the D

ividend Stopper w

ill not:

(il stop paym

ent on another instrunrent where the paym

ents on such

an instrument are not firlly discretionary;

(ii) prevent distributions to shareholders for a period that extendsbeyond the point in tim

e at which interest on the B

onds is resumed;

(*) im

pede the normal operation of the B

ank, including actions inconnection w

ith employee share plans or any restructuring activity,

including acquisitions and disposals; or

(i") im

pede the full discretion that the Bank has, at all tim

es, to cancel

diskibutioru or paymenb on the B

onds nor act in a way that could

hinder the recapitalization of the Bankqrug ldtlt

Loss Absorbency

The B

onds (including all claims, clem

ands on the Bonds and interest

thereon, whether accrued or contingent) are issued subject to loss

absorbency features applicable for non-equity capital inshuments

issued in terms of B

asel III Guidelines including in com

pliance with the

requirements of A

nnex 4 thereof and are subject to certain lossabsorbency features as described herein and required of A

dditionalT

ier 1 instruments at the P

re-Specified T

rigger Level and at the Point of

Non V

iability as provided for in A

nnex 16 of the aforesaid circular,

Accordingly, the B

onds and the Bondholders claim

, if any, claims

against Bank, w

herever situated, may be w

ritten-off, in whole or in

part, upon the occurrence of the following trigger events:

*r)w

\q

(i) P

re-Specified T

rigger Level

&

of108

(ii)

Private &

Confidential - N

ot for Circulation

Point of N

on-ViabilitY

("P

ON

V")

Loss Absorption at P

re-specified Trigger Level

If the Com

mon E

quity Tier 1 falls below

6'125% of R

WA

(the

" Pre-specified T

rigger Level" ).

A w

rite-off of the Bonds m

ay have the following effects:

a) reduce the claim of the B

ond (up to nil) in liquidation;

b) recluce the am

ount to be re-paid on the Bond w

hen call is

exercised (uP to nil);

c) partially or fully reduce C

oupon Paym

ents on the Bond

Thew

rite-downofanyC

onunorrEquityT

ierlcapitalshallnotbe required before a w

rite-down of any A

Tf inskum

ents

(includingtheBonds).T

heBankshallhavefulldiscretionto

d.etermine the am

ount of AT

1 Instruments (including the

Bonds) to be w

ritten down subject to the am

ount of write-

down not exceeding the am

ount which w

ould be required to

bring Com

mon E

quity Tier 1 ratio to 8%

of RW

As' F

urther' the

aggregate amount to be w

ritten-down for all A

T1 Instrum

ents

on breaching the higger level shall be at least the amount

neecled to imm

ediately return the bank's Com

mon E

quity Tier

L ratio to the trigger level (i.e. Com

mon E

quity Tier from

write-

down generated under applicable Indian A

ccounting

stanc{ards or RB

I instructions net of contingent liabilities,potential tax liabilities etc', if any) or, if this is not possible the

full principal value of the instruments' W

hen the Bank

breaches a Pre-specified T

rigger Level and the equity is

replenishecl through write-clow

n, such replenished amount of

equity will be exclucled from

the total equity of the Bank for

the purpose of determining the proportion of earnings to be

paid out as dividend in terms of rules laid dow

n for

maintaining capital conservation buffer' H

owever, once the

Bank has attained total com

mon equity ratio of 8%

without

counting the replenished equity capital that point onwards' the

Bank m

ay include the replenished equity capital for allpurposes. T

he Bank shall have the discretion to w

rite-down the

Bonds m

ultiple times in case the B

ank hits Pre-S

pecified

Trigger Level subsequent to the first w

rite-down' T

he Bonds

which have been w

ritten off can be written up (partially or

full) at the absolute discretion of the Bank and subject to

compliance w

ith RB

I instructions (including permission'

consent if any).

(i)

.flw

(ii) Loss A

bsorption at Point of N

on-Viability

("PO

NV

")

of 108

Private &

Confidential - N

ot for Circulation

PO

NV

h'igger event shall be as defined in the aforesaid Basel III

Guidelines and shall be determ

ined by the RB

I.

RB

I may in its im

rninence alter or modify the P

ON

V trigger w

hether

generally or in relation to the Bank or otherw

ise. In any case it shouldbe noted that follow

ing writing-off of the B

onds and claims and

demands as noted above neither the B

ank, nor any other person on the

Bank's behalf shall be required to com

pensate or provide any relief,w

hether absolutely or contingently, to the Bondholder or any other

person claiming for or on behalf of or through such holder and all

claims and dem

ands of such persons, whether under law

, contract or

equity, shall stand permanently and irrevocably extinguished and

terminated.

Unless otherw

ise specified in the Disclosure D

ocument, the w

rite-off ofany conm

on equity or any other regulatory capital (as understood interm

s of the aforesaid circular or any replacement/am

endment

thereof), whether senior or pari passu or subordinate, and w

hether a

Tier

1. capital or otherwise shall not be required before the w

rite-off ofany of the B

onds and there is no right available to the Bondholder

hereof or any other person claiming for or on behalf of or through such

holder to demand or seek that any other regulatory capital be subject to

prior or simultaneous w

rite-off or that the keatment offered to holders

of such other regulatory capital be also offered to the Bondholders.

The B

onds are issued subject to Basel III G

uidelines on PO

NV

asam

ended from tim

e to time (including all claim

s, demands on the

Bonds and interest thereon, w

hether accrued or contingent), and at the

option of the RB

I, can be permanently w

ritten down upon the

occurrence of the trigger event, called "Point of N

on-Viability T

rigger"

("PO

I{V T

rigger").

The P

ON

V T

rigger event is the earlier of:

a decision that a permanent w

rite-off without w

hich the Bank

would becom

e non-viable, as determined by the R

eserve Bank

of India; and

the decision to make a public sector injection of capital, or

equivalent suppor! without w

hich the Bank w

ould havebecom

e non-viable, as determined by the relevant authority.

Point of N

on-Viability

('PO

I{V")

a.

The am

ount of non-equity capital to be written-off w

ill be determined

by RB

I.

The w

rite-off of any Com

mon E

quity Tier 1 capital shall not be

required before the write-off of any N

on-equity (Additional T

ier 1 and

Tier 2) regulatory capital instrum

ent. The order of w

rite-off of theB

onds shall be as specified in the order of seniority as per theD

isclosure Docum

ent and any other regulatory norms as m

ay be

b.

*4fryg,

&

Eeptl

of 108

Private &

Confidential - N

ot for Circulation

stipulated by the RB

I from tim

e to time.

The B

onds can be written-dow

n multiple tim

es in case the Bank hits

the PO

NV

Trigger Level subsequent to the first w

rite-down. T

he Boncls

which has been w

ritten off shall not be written up.

Such a decision w

ould invariably imply that the w

rite-off consequentupon the higger event m

ust occur prior to any public sector injectionof capital so that the capital provided by the public sector is notdiluted. T

he Bondholders shall not have any residual claim

s on theB

ank (including any claims w

hich are senior to ordinary shares of theB

ank), following any higger event.

In any case it should be noted that following w

riting-off of the Bonds

and claims and dem

ands as noted above neither the Bank, nor any

other person on the Bank's behalf shall be required to com

pensate orprovide any relief, w

hether absolutely or contingently, to theB

ondholder or any other person claiming for or on behalf of or through

such holder and all claims and dem

ands of such persons, whether

under law, contract or equity, shall stand perm

anently and irrevocablyextinguished and term

inated. Unless otherw

ise specified in the

Disclosure D

ocument, the w

rite-off of any cofiunon equity or any otherregulatory capital (as understood in term

s of the aforesaid circular orany replacem

ent/amendm

ent thereof), w

hether senior or pnri passu orsubordinate, and w

hether a Tier 1 capital or otherw

ise shall not berequired before the w

rite-off of any of the Bonds and there is no right

available to the Bondholder hereof or any other person claim

ing for oron behalf of or through such holder to dem

and or seek that any otherregulatory capital be subject to prior or sim

ultaneous write-off or that

the keatment offered to holders of such other regulatory capital be also

offered to tl're Bondholders.

For these purposes, the B

ank may be considered

as non-viable if:

The B

ank which, ow

ing to its financial and other difficulties, may no

longer remain a going concern on its ow

n in the opinion of the RB

Iunless appropriate m

easures are taken to revive its operations and

thus, enable it to continue as a going concern. The difficulties faced by

the Bank should be such that these are likely to result in financial losses

and raising the Com

mon E

quity Tier 1 capital of the B

ank should beconsidered as the m

ost appropriate way to prevent the B

ank fromturning non-viable, S

uch measures w

orrld inclrrde write-off /

conversion of non-equity regulatory capital into comm

on shares incom

bination with or w

ithout other measures as considered appropriate

by the RB

L

The B

ank facing financial difficulties and approaching a PO

NV

will be

deemed to achieve viability if w

ithin a reasonable time in the

oPlruon

of 108

Private &

Confidential - N

ot for Circulation

of RB

I, it will be able to com

e out

appropriate m

easures are taken to revive it. The m

easures including

augmentation of equity capital through w

rite off of Bonds/ public

sector injection of funds are likely to:

a. R

estore depositors'/investors' confidence;

b. Improve rating /creditw

orthiness of the B

ank and thereby

improve its borrow

ing capacity and liquidity and reduce cost

of funds; and

c. A

ugrnent the resource base to fund balance sheet growth in the

case of fresh injection of funds.

The trigger at P

ON

V w

ill be evaluated both at consolidated and sololevel and breach at either level w

ill trigger write-off

of

subject to the provisions of The state B

ank of India Act, 1955 as

amended from

time to tim

e

a) If the Bank goes into liquidation before the B

onds have been

written-clow

n, the B

onds will absorb losses in accordance w

ith

the order of Seniority as specified in the D

isclosure Docum

ent

and as per usual legal provisions governing priority ofcharges.

b) If the Bank goes into liquidation after the B

onds have been

written-dow

n, the holders of the Bonds w

ill have no claim on

the proceeds of liquidation.

Am

algamation of a banking com

pany: (section 44 A of B

anking

Regulation A

ct,1949)

Subject to the provisions of the S


ct, 1955 and/or

Banking R

egulation Act,1949 as am

ended from tim

e to time

(a) If the Bank is am

algamated w

ith any other bank before the

Boncls have been w

ritten-down, the B

onds will becom

e part of

the corresponding categories of regulatory capital of the new

bank emerging after the m

erger.

(b) If the Bank is am

algamated w

ith any other bank after theB

oncls have been written-dow

n Perm

anently, these Bonds

cannot be written up by the am

algamated entity'

Schem

e of reconstitution or amalgam

ation of a banking company

the present difficulties if

Treatm

ent of Bonds in the event

Other E

vents

of Winding-U

p:

Subject to the provisions

of the State B

ank of

*

1955 and/or

qrw

IDiN

I

of 108

Private &

Confidential - N

ot for Circulation

Banking R

egulation Act,1949 as

If the relevant authorities decide to reconstitute the B

ank or

amalgam

ate the Bank w

ith any other bank under the Section 45 of

Banking R

egulation Act, 1,949, the B

ank will be deem

ed as non-viable

or approaching non-viability and both the pre-specified trigger and the

higger at the point of non-viability for write-dow

n of AT

1'/Tier 2

instruments w

ill be activated. Accordingly, the B

onds may be w

ritten-

down perm

anently before amalgam

ation / reconstitution in

accordance with these rules.

amended from

time to tim

e:

The outstanding principal am

ount of the Bonds (".g

repurchase or redemption)

can be repaid subject to the prior approval

of RB

I. The B

ank shall repurchasef bty-back / redeem the B

onds only

if:(a) The B

onds are replaced with capital of the sam

e or better quality

and the replacement of this capital is done at conditions w

hich are

sustainable for the income capacity of the B

ank; or

(b)The B

ank demonshates that its capital position is w

ell above the

minim

um capital requirem

ents after the repurchase/buy-back /redem

ption.

Such B

onds may be held, reissued, resold, extinguished or

surrendered, at the option of the Issuer.

Repurchase/ B

uy-Back

/Redem

ption

capital instruments

through

The order of claim

of various types of Regulatory

issued by the Bank and that m

ay be issued in future shall be as under:

Additional T

ier 1 instruments shall be superior to the claim

s of

investors in equity shares and perpetual non-cumulative instrum

ents

preference shares issued by the Bank and subordinate to the claim

s of

all clepositors, general Creditors and subordinate debt of the B

ank

other than any subordinated debt qualifying as Tier 1 C

apital'

Additional T

ier 1 debt instruments w

ill rank pari passu without

preference amongst them

selves and other debt instruments

irrespective of the date of issue classifying as Tier

1. Capital in term

s of

Basel III G

uidelines. unless the terms of any subsequent

issuance of

bonds/debentures by the Bank specifies that the claim

s of suchsubsequent bond holders are senior or subordinate to the B

onds issued

uncler the Disclosure D

ocument or unless the R

BI specifies otherw

ise

in its guidelines, the claims of the B

ond holders shall be pari passu

with claim

s of holders of such subsequent debentures/bond issuances;

ancl shall be on pari-passu ranking with holders of other A

dditional

Tier 1 instrum

ents issued by the Bank.

Order of

Additional

instruments

claimT

ierof1.

How

ever, the claims of the B

ondholders shall be subject to theovisions of Loss A

bsorbency and Other E

vents mentioned above

qlu\g:

pr

of 108

Re-capitalization

Governing Law

andJurisdiction

Note; T

he Bank reserves its sole and absolute right to m

odify (pre -pone/ pos@one) the above issue

schedule without giving any reasons or prior notice. T

he Bank also reserves its sole and absolute right

to change the Deem

ed Date of A

llotment of the above issue w

ithout giving any reasons or prior notice.C

onsequent to change in Deem

ed. Date of A

llotment, the C

oupon payment D

ates and/or Call option

Date if any m

ay also be changed at the sole and absolute discretion of the Issuer. The B

ank reserves theright to close the issue earlier than the stipulated issue closing date and it is further clarified that theB

ank need not wait for any m

inimum

subscription amount to the B

onds before closing the issue.

Nothing contained in this

Transaction D

ocuments shall hinder

re-capitalization by the Bank.

Private &

Confidential - N

ot for Circulation

of India. Any dispute arising thereof shall be subject

of courts of Mum

bai, Maharashtra.

The B

onds are governedthe existing law

sto the

Sum

mary T

erm S

heet

by and shall be

or in any other

consfoued in accordance with

of 108

Private &

Confidential - N

ot for Circulation

Q. D

isclosures pertaining to willful default

a) Nam

e of the bank declaring the entity as a willful defaulter

Not A

pplicableb)

The year in w

hich the entity is declared as a willful defaulter

Not A

pplicablec)

Oubtanding am

ount when the entity is declared as a w

illful defaulterN

ot Applicable

d) Nam

e of the entity declared as a willful defaulter

Not A

pplicablee)

Steps taken, rt any, for the rem

oval from the list of w

illful defaultersN

ot Applicable

0 O

ther disclosures, as deemed fit by the issuer in order to enable investors to take inform

eddecisions

Not A

pplicableg) A

ny other disclosure as specified by the Board

Not A

pplicable

of 108

Private &

Confidential - N

ot for Circulation

R. D

EC

LAR

AT

ION

The Issuer undertakes that this D

isclosrue Docum

ent contains full clisclosures in accorclance with S

EB

I Debt

Regulations.

The Issuer also confirm

s that to the best of its knowledge and beliefs, this D

isclosure Docum

ent does not omit

disclosure of any material fact w

hich may m

ake the statemenb m

ade therein, in light of the circumstances

under which they are m

ade, misleading. T

he Disclosure D

ocument also d.oes not contain any false or

misleading statem

ent.

The Issuer accepts no responsibility for the statem

ent made otherw

ise than in the Disclosure D

ocument or in

any other material issued by or at the instance of the Issuer and that anyone placing reliance on any ottrer

source of information w

ould be doing so athis ownrisk.

Signed pw

suant to intemal authority grante{

For S

tate Bank of India

ffiot(tm

drsA

uthorized Signatory

!il{tglfifi/ G

orpoilts entre, Mum

bai

Placq M

umbai

Date: N

ovember 20,2019

tuIND

IA{F

uu

Shrrrs I

Bonds)

qpg&

Dopt.

of L08

AN

NE

XU

RE

I

Copy of rating letter from

CR

ISIL R

atings

RatingsJ/^bt.\t.

J-. \'S

ubha Sn N

aruvlnrnl)irector - C

RlS

ll Rtrings

Private &

Confidential - N

ot for Circulation

cRlslL

coNl'1D

EN

'flAt.

$rl. J r{l5I ltoNtt I t0t{20t9

Novcnrhcr

()l{. 20 lg

!lr. 'larun P. l.lls

(icncnrl i\{anagcr.

Sharcs &

llonrls l)cpt.S

tote Bank of lndlo

SB

I Corpor,ltc C

snrrc. l4r} Flrrur,

Strtc llank R

havun; lVlarlantc C

aml R

ondN

tnnun P

ornt.M

unrbai-400021

Shorrkl you rcqutre nny clarilicattnns,

please l'ecl lirc ro gct tn touch wtth us

lVrth w

arnr rr'gards.

Yours srnccrclv,

Duirr M

r. Tarun

P. l-al;r,

Rc cR

lsll, R|rlng for rhc R

r.Ji00 crorc Tlcr-t B

ondc (unrler Brsel nl) of slale B

rnk of lndlr.

Wc rc[cr to your rcqucst for o ruting for thc captioncd

Dcbl instrum

cnt.

('RlS

ll has'allcrrlut'consirJcmtron.ussigncttailC

RlslLA

A+

/Stoblc"(pronnunccdnsC

RlS

ll douhlcA

plusratrng- rvith S

tatrle outlook) rating lo lhe captioned debt instrum

cnt. lnlrrumcnls

with this nrring arc consirlcretl ro

havc high dcBrcc ofsnfcly rcganling tim

cly scrvicing of financial obligations. Such insrrunrents carry vcry lorv

crcdit risk.

Fudhcr, ln riorv ol your dcctslon lo accepl lhc C

RIS

IL Raling rve rcquest you lo appnsc us of the rnsrnl1lcltt

detnrls (rn the ettclosed fomr$l) !s-$oort os it lras b€sn phccrt. ln rltc-cveni uf yuur cornpany oot nuki1ts

thcissuc rvlthtn u.pcnod of lt0 dlrys fronr thc abovc tlotc, or in the evcnt ofrny chnnge in rhc tizc or *tnrcttrc ol'your proposcd

i*rur., n frcsh lcrtcr of rcvalidation linm C

RIS

IL rvill bc ncrcssary.

As per our R

illlng AB

rccnlent. CR

lSIl. w

ould disscminarc

thc rating along rvirh outlook tlrrough ir: Iublicationsand othcr nrcrlia. und kccp thc rntrng along rvrlh oullook undcrlun'eillance

for thc lifc if rh" ,nr,;xn,"n,.(- ltlS

ll rc:reruer the right to wtlhdraw

or rcvisc fie mhngs assigncd to thc crpriorred rn$rrum

cnr ilr x1y rrnE. q1

thc basts ol'nsw lnlbrm

ation, or unuvailability

of infornrrrtion or urhcr circunrsrances, w

hrcS ('R

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As pcr thc lillcst S

t:ltl crrcular lrcfcrcncc nurnber: C

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2013) oncentrahzed databasc for corporntc bondgdebcnturss, you arc rcquircd to provirlc intcrnational scuntrcsirlcntification nurrrbcr (IS

IN: ulong rvith the rcfercncc num

ber aml thc drirc of rhe ratlng lener) of nll

hrmlrdt'bcnlurc ls$ttilttccs m

adc ilglrosl this rdling leilca to us fhe circular also rcquircs y,-lrr to sharc thts

tnformalion $ilh rls w

ilhin 2 rlnys after thc allotnrcnt of lhc lslN W

c rcqrrsr you ro riuril us oll rhc lscsssilrylnd rclcunt rnlbrnration

ar dcbtisuc(a)cnsil.com.

This rvill cnoblc C

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ll.'ro lcntv and !-ontirm to thc

tlc'posttortes, tncludtttg NS

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rlctlils ofrlcbr rotc<l by us, u* rcquiru.'l hy S

EB

I. Fcr.l ticc ro

conluct us lor uny clirrilications

you nrny hnvc ut dcbtissuo(lr,crisil.conr

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lrsnrndenl gusif,oa part. pow

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gig.2 m

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CR

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ntay lurc un trnpiltt ou lhc luring.

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'lfullvlBD

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dulcd uctobcr l:- lt,lll

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csnlr.rhrcd dulahrc for carrpo'Itc bonrlg'rhbentrrrcs, you tuc rcqutrctl to provldc lnlr'lltlltl(T

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lN $c rcquc,r fril lo m

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dcposrtonu.s, tnchtding NS

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Shouhl lrnr rtqrnrc nny clarificnti<

n*. ple'l*c l'tul lie

to gcl ta lotrth rvrtlr ur

Ratings

Private &

Confidential - N

ot for Circulation

An 3oP

6100.lcotnprnt

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harci & B

orrds Dcpt.

satrc Brnh of lndir

SB

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AN

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III

Copy of consent letter from

Trustee

IDB

I Trusteeship S

ervices LtdC

IN : U

6599lMl'l2O

OlG

Ol

I ll 154

No 881)6,/ lIS

l .t()l'R/('l.. lt)-f0rtl | 901

(\lulr,r rl,:llle

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r. l-arun P. l-rla

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anagerstate B

rnk of lndiaS

hares .urrl Bontls D

e;urtrnentC

orpor.rlc Centre, I'lth llttor,S

late B

ank Bh.rvan,

llarlamc C

am.r l{rntl, !lum

bai - {lX) 021

t )r.ar 5tr./ Ilir(l.ull

Consr.nl to.rcl al B

ond'l'ruslep for Listed Unsacured A

dditlonal'l'icr I Bonds.rgsregaling

ioR

r.38952O crore.

lhis is w.ith n'tt,rcnre l.r vuur r'm

.trl rlated 1l.l{,.2t119 regartlinll nPF

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IlrusttuthiP

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Yourr loilhlullt

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t'rviccs Limited

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d. Office

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urtdrng, Grotrnd

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' Kam

anr Marg' B

allard

Iel.:-022'4O807000.F

ax:022-66311776'Em

ail:itsl@dbrtrustee'com

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umbar - 400 0O

l.. response@

idbltrustee.com

lDB

l trustee

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: wrw

v.dbtrustee.com

of 108

Private &

Confidential - N

ot for Circulation

Coupon R

ate

Day C

ount Convention

Scenario 1: C

all Option not exercised

Cash F

lows

Perpetual

8.50%

1st Coupon

2nd Coupon

Annual

3rd Coupon

4tlCoupon

Actual/ A

ctual

Stl C

oupon

Coupon P

ayment D

ate

6tl Coupon

7tl'Coupon

8tl'Coupon

Monday, N

ovem ber 23, 2O

2O

9th Coupon

Monday, N

ovem ber 22, 2021

Upto P

erpetual.

Tuesday, N

ovember 22, 2022

Wednesday, N

ovember 22, 2023

Assum

ptions:

Friday, N

ovember 22, 2024

Monday, N

ovem ber 24, 2025

1. Business D

ay shall be the day on which m

oney markets is functioning in M

umbai. If the interest

payment date / redem

ption doesn't fall on a Business D

ay, then payment of interest / principal

amount shall be m

ade in accordance with S

EB

I circular no. CIR

/IMD

/DF

-I/122/2016 datedN

ovember 11,2016 as am

ended from tim

e to time.

Monday, N

ovem ber 23, 2026

Monday, N

ovem ber 22, 2027

Wednesday, N

ovember 22, 2O

2B

No. of D

ays inC

oupon Period

2. If any of the Coupon P

ayment D

ate(s), other than the ones falling on the redemption

d.ate, falls on aday that is not a B

usiness Day, the paym

ent shall be nlade by the Issuer on the imm

ediatelyB

usiness Day, w

hich becomes the coupon paym

ent clate for that coupon.

365

365

365

Am

ount (Rs.)

365

356

365

85,000

365

85,000

Nam

e of the Issuer

Face V

alue

Deem

ed Date of A

llotment

Call option D

ate

Redem

ption Date

Frequency of Interest

Paym

ent

State B

ank of India

10,00,000

Novem

ber 22,2019

Novem

ber 22,2024, or arryanniversary date thereafter,subject to T

ax Call/ R

egulatorycall

35s

AN

NE

XU

RE

IV

As per S

EB

I circular no. CIR

/IMD

/DF

-l/122/ 2016 dated Novem

ber 1L,201.6, illustrative cash flowfor bonds is as under:

Illushation

85,000

85,000

85,000succeeding

couponthe future

0ept.

. of 108

355

85,000

85,000

85,000

85,000

Paym

ent date(s) would be as per the schedule originally stipulated at the tim

e of issuing the Bonds.

3. If the redemption date of the B

onds falls on a day that is not a Business D

ay, the redemption am

ountshall be paid by the Issuer on the inur-rediately preceding B

usiness Day w

hich becornes the newredem


onds until but excluding the date of suchpaym

ent.

4. It is clarified that Interest/redemption w

ith respect to debentures, interest/redemption paym

entsshall be m

ade only on the days when the m

oney market is functioning in M

umbai.

5. Interest payments w

ill be rounded-off to nearest rupee as per the F

IMM

DA

'Handbook on m

arketpractices.

Scenario 2: A

ssuming C

all Option is exercised at the end of the S

ft anniversary of the Deem

ed Date

of Allotm

ent

Private &

Confidential - N

ot for Circulation

Cash F

lows

Coupon P

ayment D

ate

1st Coupon

Am

ount (in Rs.)

2nd Coupon

Monday, N

ovember 23, 2020

3rd Coupon

4tl'Coupon

Sth C

ouponR

edemption

Wednesday, N

ovember 22, 2023

35s

Assum

ptions1. B

usiness Day shall be the day on w

hich money m

arkets is functioning in Mum

bai. If the interestpaym

ent date / redemption doesn't fall on a B

usiness Day, then paym

ent of interest / pnncipalam

ount shall be made in accordance w

ith SE

BI circular no. C

IR/IM

D /D

F-1,/122/2016

datedN

ovember 11,2016 as am

ended from tim

e to time.

Monday, N

ovember 22, 2O

2I

Friday, N

ovember 22, 2024

Tuesday, N

ovember 22, 2022

2' If any of the Coupon P

ayment D

ate(s), other than the ones falling on the redemption date, falls on

a day that is not a Business D

ay, the payment shall be m

ade by the Issuer on the imm

ediatelysucceeding B

usiness Day, w

hich becomes the coupon paym

ent date for that coupon. How

ever, thefuture coupon paym

ent date(s) would be as per the schedule originally stipulated at the tim

e ofissuing the B

onds..

Friday, N

ovember 22, 2024

No. of D

ays inC

ouponP

eriod

3. If the redemption date of the B

onds falls on a day that is not a Business D

ay, the redemption

amount shall be paid by the Issuer on the im

mediately preceding B

usiness Day w

hich becomes the

new redem


onds until but excluding the date of suchpaym

ent.

366

365

365

366

4. It is clarified that Interest/redemption w

ith respect to debentures, interest/redemption paym

entsshall be m

ade only on the days when the m

oney market is functioning in M

umbai.

85,000

85,000

85,000

L0,00,000 of L08

85,000

5. Interest payments w

ill be rounded-off to nearest rupee as per the F

IMM

DA

'Handbook on m

arketpractices.

85,000

Private &

Confidential - N

ot for Circqlali6n

AN

NE

XU

RE

V

In-Principle A

pproval for listing on BS

E

ffisffiD

CS

/CO

MP

/rV A

P -P

PA

V 554t 19 -20

Novem

ber 18,2019

FX

PF

F.IE

NC

F 7H

E N

EU

/

The C

ompany S

ecretaryS

tate Bank of lndia

Corporate C

entre, State B

ank Bhavan,

Madam

e Cam

a Road,

Mum

bai - 4O

O O

21

Dear S

ir,

We acknow

ledge receipt of your application on the online portal on Novem

ber 18, 2019seek,ng

ln-principle approval for issue of captioned security. ln this regard, the Exchange

is pleased to grant in-principte approval for l'sting subject to fulfilling the following conditions:

'1. Filing of Iisting application.

2. Paym

ent of fees as may be prescribed from

lime to tim

e.

3. Com

pliance with S

ecurities and Exchange B

oard of lndia (lssue and Listing of Debt

Securities) R

egulations, 20OB

as amended ?Q

12, and submission of D

isclosures andD

ocuments as per R

egulations 21, in the formai specified in S

chedule I of the saidR

egulations and also Com

pliance w

ith provisions of Com

panies Act 2013.

+, R

eceipt of Etatutory &

other approvals & com

pliance of guidelines issued by thestatutory authorities including S

EB

I, RB

l, DC

A etc. as m

ay be applicable.

5. Com

pliance with change in the guideljnes, regulations directjons of the E

xchange orany statutory authorities,

documentary requirem

ents from tim

e to time

This ln P

rinciple Approval is valid for a period of 1 year from

the date of issue of lhis letter.T

he Exchange reseryes its right to w

ithdraw iis in-principle approval at any later stage if the

information subm

itted to the Exchange is found to be incom

plete/ incorrect/misleading/false

or for any contravention of Rules, B

ye-laws and R

egulations of the Exchange, S

EB

I (LjslingO

bligations and Disclosure R

equirements) R

egulations, 2015, Guidelines/R

egulations issuedby the statutory authorities elc. F

urlher, it is subject to paymenl of all applicable

charges leviedby the E

xchange for usage of any system, sofiw

are or similar such facilities provided by B

SE

which the C

ompany shall avail to process the application of securilies for w

hich approval isgiven vide lhis letter.

Yours faithfully,

For B

SE

Limited

. ,,-i "-"t

. i

(.t'' t

. '

{.--f"*''

\ .-'-

Rupal K

handelwal

Senior M

anager

s&F

$*sH

nI

\,:\'-lic\l':: '--

lshwari V

aidya:A

ssistanlS

tock Erchango

l.tdJ.l low

€( DalalS

troot, M

umbai

K\s##

*

SE

NS

F:X

':'

rjorporale kjHntitu N

unrb€r: L67

of 108

In-Principle A

pproval for listing on NS

E

Private &

Confidential - N

ot for Circulation

ON

sEe5;

Natlonal S

tock Exchange O

f Indla Llmlted

Ret. N

o. :NS

Er'LIS

TT

'l 550N

ovenrber 18.2019

The C

onrpany Secretary

State B

ank of hrdiaS

hares & B

onds Departurent. C

orporate Ceutre,

l4m F

loor, State B

ank Bhaval.

Madanr C

arna Road .

Munrbai - 400021

Kind A

ttn.: Mr. S

anjay M A

bhyauknrD

ear Sir'

Sub.: In-ptinciple npproval for listiug of N

on-convertible Bonds in the nature of

Debentuues on private placem

ent basis.

This is w

ith reference to yotu application dated Novernber 18,2019 for In-principle approval for

listing of Unsecured. P

erpetual, Non-curntrlative, T

axable. Nou-convertible B

onds in the natrueof D

ebenhrres of face valtre of Rs. l0 lakhs each for B

ase issue size of Rs. I500 C

rore with E

eenshoe option of R

s. 2395.20 crore aggregating to Rs. 3895.20 C

rore. to be issued by State B

zurk ofhrdia on private placem

ent basis. It this regard. the Exchange is pleased to €.rant in-principle

approval for the said issue.

Kindly note that tlrese debt iostnrureuts rnay be listed on the E

xchange after the alloturentprocess has been conrpleted provided the securities of the issuer are eligible for listing on theE

xchange as per oru listing criteria and the issuer fulfills the listing requirements of the

Exchange. T

he issuer is responsible to ersure courpliance v,'ith all the applicable guidelinesissued by appropriate

authorities fron time to tim

e including SE

BI (Issue and Listing of D

ebtS

ecurities) Regulations.

2008.

Yous faithfully.

For N

ational Stock E

xchauge of hrdia Liurited

Priya Iyer

Manager

fti! O

eurent ir Oqiblly

Sign€d

3'3,5i,PftS

?'dLyi6

NetloE

r sroct EE

h.tr!. or rndl Lrm

ibd I ErcrB

ooe ptlra c-1, Block c. B

sdn (odr O

nSe

,UlT

frJ1to* oo.Itrda +

gl 22 25599100 I ffi

n-trdb com I C

IN U

671201,1H1992P

1C069?69

19:35:49 IST

{Tu.9D

ept.

of 108

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ot for Circulation

stAlt 3A

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DtA

cotror^r cmt. cw

aa ooil

AN

NE

XU

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VI: F


ear ended Septem

ber 30,20'l,g

&d-.&

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to-l

sIAtE

SA

llX O

f tf,OlA

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Private &

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ot for Circulation

Notes on S

tandalone F

inancial Results:

The financial results have been draw

n from flnanclal statem

ents prepared in accordancew

ith Accounting S

tandards (AS

-25) on 'lnterim F

inancial Reporting',

The above financial results have been revlew

ed by the Audit C

omm

lttee of the Board at

their meeting held on O

ctober 24, 2Ot9 and approved by the B

oard of Directors at their

meeting held on O

ctober 25, 2019. The results have been subjected to a lim

ited review by

the Statutory C

entral Auditors.

The financial results for the quarter and half year ended S

eptember'30, 2019 have been

arrived at after considering necessary provislons for N

pAs, standard A

ssets, standardD

erivative Exposures, R

estructured Assets and lnvestm

ent Depreciation/provision

on thebasis of prudential norm

s and directions and approval lssued bv the RB

l. Provisions for

Contingencies, E

mployee B

enefits lncluding provision for wage revlsion, D

irect Taxes

(after adjustment for D

eferred Tax) and for other item

s / assets are made on estim

atedbasis,

'l"he above results for the quart€r and half year ended september 30, 2019 have been

prepared, following the sam

e Accountlng P

olicies as followed in the annual financial

statements for the year ended M

arch 31, 2019.

5R

BI circular D

8oD.N

o.BP

.8c.Un.a6.201/4015-16

dared July 01, 2015 on 'Basel ilt

capital Regulations' read together w

lth R

BI circular N

o, D

BR

.No.B

p.B

c'80/21.06,20U20L4-75 dated M

arch 31, 2015 on 'prudential Guidelines on capital

Adequacy and Liquidity S

tandards Am

endments' requires B

anks to make applicabte pillar

3D

isclosures including Leverage Ratio and Liquidity C

overage Ratio under the B

asel lllfram

ework.

These disclosures as of S

eptember 30, 2019, are placed on the B

ank's Websile

lrttp ;.//ww

w.s

b i. c r:. i n.

6A

s per

RB

I circular no. D

BR

.No.B

p.15199/2r.04,048/zol6-rt and

DB

R.N

o.BP

.1906/21.04.044/zov-rc dated June 23, z0t7 and A

uEU

st 28, zaurespectively, for the accounts covered under the provisions of lnsolvency and B

ankruptcycode (lB

C), the B

ank is holding toral provislon of ( 22399 crore (99.63 %

of totaloutstanding) as on on S

eptember 30, Z

Olg

7T

he bank has estimated the liabllity for U

nhedged F

oreign Currency in term

s of RB

I circularD

BO

D'N

o.BP

.BC

.85/21.06.zOO

/zOL3-t4

dated Januarv 15, 2014 and is holding a provisionof ? 109.89 C

rore as on Septem

ber 30, 201g.

I lhe bank has rnade a provision of ( 996 C

rore for quarterS

eptember 30, 2019

{Total cum

ulative till Septem

ber 30, 20lg t zS:S

,At crore)

rs of wages due

4

for revision w.e.f. N

ovember 01, 2012.

l,/ k

R-- t,

,h- ,.7

&b

It

i-rXI

Il',L.

{*

Share.s

f,r,,

qlug

&P

age 106 of 108

9

Private &

Confidential - N

ot for Circulation

ln accordance with notification

issued by Govt of lndia, the follow

lng amalgam

ations have

taken place in between the R

egional Rural B

anks (RR

Bs) sponsored by 5B

l and RR

Bs

sponsored by other banks:

The details of am

algamation of B

RB

s, where the transferee R

RB

s are noi sponsored by State B

ankof lndia are as below

: -

I

Nam

e oftransferor R

RB

s

Pragathi K

rishna

Gram

in Bank

Kaveri G

rameena

Bank

Sponsor B

ankof transferor

RR

Bs

Canara B

ank

state Bank of

lndia

New

Nam

e

afterA

malgam

ationof R

RB

s

Assam

Gram

lnV

ikash Bank

New

Narne

afterA

malgam

atlonof R

RB

s

Canara

Bank

United

Bank oflndia

Sponsor

Sank of

tranrfereeR

RB

s

Effective D

ate ofA

malgam

atlon

1" April ,2019

lstApril,2019

Effectivc D

ate ofA

malgam

atlon

15r April ,2019

The details of am

algamation of R

RB

s, where the transferee R

RB

is sponsored by State B

ank of lndiaare as below

: -

2. A

ssam G

ramin

- - -U

nited Bank of

Vikash B

ankln{!a

Lan6pi Dehangi

Rural B

ank

Sponsor B

ank oftransferor

RR

Bs

Vananchal C

ramin

Bank

Karnataka

Gram

in Bank

Sponsor

Bank of

transfereeR

RB

s

1.

State B

ank oflndia

Nam

e of transferorR

RB

s

Jharkhand Cram

inB

ankJharkhand R

ajya

Gram

in Eank

State B

ank oflndia

of

10

lnclia

As per N

CIT

order pronounced on June 04, 2019, 5Bl B

usiness Process M

anagement S

ervices

Private Lim

ited (a subsldtary) has been amalgam

ated with S

BI C

ards and Paym

ent Services

Private Lim

ited (a subsidiary) w.e,f. A

pril 01, 2018 with the latter being the surviving entity.

11 E

xceptionalitems far current year representsr

ur subsidiary SB

I ti{e

/V

A,

g---,j- ,h 7_F

Bank of Inciia

,\r

\.,l\

,tr b,N

et profit of ? 3484,30 Crore on sale of partial investm

enlnsurance C

ompany Lim

ited

l\t\

LTI

of 108

ET

Ug

72

Private &

Confidential - N

ot for Circulation

The G

overnment of lndia has pronounced S

ection 1I5BA

A of the lncom

e Tax A

ct, 1961through T

axation Laws (A

mendm

ent) Ordlnance, 2019. B

ank continues to recognise the Taxes

on lncome for the quarter and half year ended 30th septem

ber, 2019 as per the earJierprovisions

Provlsion C

overage Ratio as on S

eptember 30, 2019 w

as 81.13 96

Nurnber of lnvestors' com

plaints pending at the beglnning of the quarter was 06. T

he Banl

has recelved 64 lnvestor$' complalnts durlng the quarter ended on S

epternber 30, ZO

l.9, 7(C

omplaints have been disposed off during the quarter. T

here ls NIL pendlng lnvestors

complaints at the end of the quarter ended on S

eptember 30, 2019.

The figures for the quarter ended S

eptember 30, 2019 are the balancing figures betw

eerreview

ed figures in respect of the half year ended Septem

ber 30, 2019 and the publlshed yeato date figures up to June 30, 2019.

16 P

revlous perlod/year figures have been regrouped / recl

conform to current perlod classiflcatlons.

wherever necessary, to

(-

13

t415

#y*D

ifi6sh Kum

ar Khara

Managlng D

lrector (cB&

Sl

For J.C

. Bhalla &

Co.

Accountants

lftR

aiesh Sethi

Partner: M

. No" 085659

Firm

Regn, N

o.001111 N

For R

ao & K

umar

Chartered A

ccountants

r€ctor {R&

DB

I

For B

rahmayya &

Co.

Chartered A

ccountants

ae**JN

. Venkata S

uneelP

artner: M. N

o. 223688F

irm R

egn. No,000511S

t*n'-)( v*-L*.--\-

Anirban

Pal

Partner: M

. No. 214919

Firm

Regn. N

c. 003O89 S

I'A

i,'

of 108

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