Balance Sheet As On March 31, 2021: Capital & Liabilities

BALANCE SHEET AS ON MARCH 31, 2021 (` in Thousands)
As on 31.03.2021 As on 31.03.2020
PARTICULARS Schedule No. (Audited) (Audited)
CAPITAL & LIABILITIES
Capital 1 1129 36 66 608 80 06
Reserves and Surplus 2 37282 57 83 21480 46 80
Deposits 3 538071 11 49 260225 89 70
Borrowings 4 26174 59 82 20830 30 96
Other Liabilities & Provisions 5 23347 36 19 6322 69 92
TOTAL 626005 01 99 309468 17 44
ASSETS
Cash & Balances with R B I 6 27545 08 17 5736 12 43
Balances with Banks and Money at Call and Short Notice 7 26514 79 55 8188 55 97
Investments 8 176536 96 62 81241 68 80
Advances 9 364010 24 06 197887 01 15
Fixed Assets 10 7376 31 14 3895 74 42
Other Assets 11 24021 62 45 12519 04 67
TOTAL 626005 01 99 309468 17 44
Contingent Liabilities 12 293533 46 10 42576 86 28
Bills for Collection - 12620 72 77 5994 96 94
* Figures of 31.03.2020 are related to standalone Indian Bank financials of pre-amalgamation period; hence not comparable
with post amalgamation financials as at 31st March, 2021.
Ms. PADMAJA CHUNDURU

MANAGING DIRECTOR & CEO
IMRAN AMIN SIDDIQUI SHENOY VISHWANATH V

EXECUTIVE DIRECTOR
K RAMACHANDRAN
EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR
DIRECTORS
SANJEEV KAUSHIK
GOVERNMENT NOMINEE DIRECTOR S K PANIGRAHY
RBI NOMINEE DIRECTOR
Dr. BHARATH KRISHNA SANKAR

SHAREHOLDER DIRECTOR
STATUTORY CENTRAL AUDITORS

For M/s. K C MEHTA AND CO For M/s. SRIRAMAMURTHY & CO For M/s. RAVI RAJAN & CO LLP
Chartered Accountants Chartered Accountants Chartered Accountants
FR No. 106237W FR No. 003032S FR No. 009073N / N500320
CHIRAG BAKSHI
DONDETI TEJA SAGAR JAYANTH A
Partner Partner
¼M. No. 047164½ Partner
¼M. No. 227878½ ¼M No. 231549½
For M/s. P K F SRIDHAR & SANTHANAM LLP

For M/s. G NATESAN & CO
Chartered Accountants
FR No. 003990S/S200018
FR No: 002424S
V.KOTHANDARAMAN K MURALI
Partner Partner
¼M No. 25973½ ¼M No. 024842½
Place : Chennai
Date : 28.05.2021
1
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, (` in Thousands)
2021
PARTICULARS Schedule No. YE 31.03.2021 YE 31.03.2020
I. INCOME
Interest earned 13 39105 78 65 21404 96 92
Other Income 14 6079 25 38 3312 46 43
TOTAL 45185 04 03 24717 43 35
II. EXPENDITURE
Interest expended 15 23439 83 90 13798 55 31
Operating expenses 16 10349 55 28 4420 83 92
Provisions & Contingencies - 8390 97 08 5744 68 30
TOTAL 42180 36 26 23964 07 53
III. PROFIT/LOSS
Net Profit/Loss(-) for the year 3004 67 77 753 35 82
Profit/Loss(-) Brought forward 99 16 27 99 15 45
Less: Set off against Share Premium/other adjustments -101 67 04 -
TOTAL 3002 17 00 852 51 27
IV. APPROPRIATIONS
Transfer to :
Statutory Reserves 751 17 00 188 34 00
Capital Reserves 47 71 00 152 15 00
Revenue Reserves 1387 34 39 -
Staff Welfare Fund 25 00 00 15 00 00
Investment Fluctuation Reserve 464 91 00 389 99 00
Investment Reserve - 7 87 00
Equity Dividend 225 87 33 -
Bal. carried over to Balance Sheet 100 16 28 99 16 27
TOTAL 3002 17 00 852 51 27
Earnings Per Share in Rs. (basic & diluted) 26.61 14.33
* Figures of 31.03.2020 are related to standalone Indian Bank financials for pre-amalgamation period, hence not
comparable with post amalgamation financials for the Year Ended March, 2021
Ms. PADMAJA CHUNDURU

MANAGING DIRECTOR & CEO
IMRAN AMIN SIDDIQUI K RAMACHANDRAN SHENOY VISHWANATH V

EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR
DIRECTORS
SANJEEV KAUSHIK S K PANIGRAHY
GOVERNMENT NOMINEE DIRECTOR RBI NOMINEE DIRECTOR
Dr. BHARATH KRISHNA SANKAR

SHAREHOLDER DIRECTOR
STATUTORY CENTRAL AUDITORS

For M/s. K C MEHTA AND CO For M/s. SRIRAMAMURTHY & CO For M/s. RAVI RAJAN & CO LLP
Chartered Accountants Chartered Accountants Chartered Accountants
FR No. 106237W FR No. 003032S FR No. 009073N / N500320
CHIRAG BAKSHI
DONDETI TEJA SAGAR JAYANTH A
Partner Partner
¼M. No. 047164½ Partner
¼M. No. 227878½ ¼M No. 231549½
For M/s. P K F SRIDHAR & SANTHANAM LLP

For M/s. G NATESAN & CO
FR No. 003990S/S200018
FR No: 002424S
Place : Chennai
Date : 28.05.2021 V.KOTHANDARAMAN
Partner
¼M No. 25973½
K
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A
L
I
P
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(` in Thousands)
SCHEDULE 1 - CAPITAL
PARTICULARS As on 31.03.2021 As on 31.03.2020
I. Authorised Capital
300,00,00,000 Equity Shares of Rs.10/- each 3000 00 00 3000 00 00
II. Issued, Subscribed and Paid up:
Equity Shares:
a. 99,45,49,600 Equity shares of Rs.10/- each

held by Government of India (P.Y.-50,80,80,023
Equity shares of Rs. 10/- each) 994 54 96 508 08 00
b. 13,48,16,970 Equity shares of Rs.10/- each held by Public

(P.Y. 10,07,20,557 Equity shares of Rs.10/- each) 134 81 70 100 72 06
Total 1129 36 66 608 80 06

SCHEDULE 2 - RESERVES AND SURPLUS (` in Thousands)
I. STATUTORY RESERVES
a. Opening Balance 4694 19 81 4505 85 81
b. Additions during the year (*) 3955 55 70 188 34 00
TOTAL I 8649 75 51 4694 19 81
II. CAPITAL RESERVES
A Revaluation Reserve
a. Opening Balance 2987 84 42 3095 03 91
b. Additions during the year (*) 2909 98 72 0
c. Deductions during the year 142 86 51 107 19 49
TOTAL (A) 5754 96 63 2987 84 42
B Others
a) Opening Balance 388 55 24 236 40 24
b) Additions during the year (*) 524 45 50 152 15 00
TOTAL (B) 913 00 74 388 55 24
TOTAL II (A + B) 6667 97 37 3376 39 66
III. SHARE PREMIUM
Opening Balance 4026 65 23 1325 67 33
Additions during the year (*) 15806 49 62 2700 97 90
Deductions during the year 18975 52 95 0
TOTAL III 857 61 90 4026 65 23
IV. REVENUE AND OTHER RESERVES
A) Revenue Reserve :
Opening Balance 7448 29 29 8265 03 80
Additions during the year (*) 5533 16 14 0
Tfrd from revaluation reserve 142 86 51 107 19 49
TOTAL (A) 13124 31 94 7448 29 29
B) Special Reserve u/s 36(1)(viii) of IT Act
Opening Balance 725 52 00 725 52 00
TOTAL (B) 2175 52 00 725 52 00
C) Special Reserve u/s 36(1)(viii a) of IT Act
Additions during the year 0 0
TOTAL (C) 58 20 00 58 20 00
D) Investment Fluctuation Reserve
Additions during the year 464 91 00 389 99 00
TOTAL (D) 1031 90 00 566 99 00
E) Investment Reserve
Additions during the year (*) 138 58 55 7 87 00
TOTAL (E) 186 37 77 47 79 22
F) Foreign Currency Translation Reserve
Additions during the year 56 67 07
TOTAL (F) 421 92 88 437 26 31
G) IRS reserve
Opening Balance 0 0
Deductions during the year 0 0
TOTAL (G) 1 90 63 0
TOTAL IV (A + B + C + D + E + F + G) 17000 15 22 9284 05 82
V. AMALGAMATION RESERVE
Opening Balance
Additions during the year 4006 91 55 0
TOTAL V 4006 91 55 0
VI. PROFIT & LOSS ACCOUNT
Adjustments from Share Premium 18975 52 95 0
TOTAL VI 100 16 28 99 16 27
TOTAL (I+II+III+IV+V+VI) 37282 57 83 21480 46 80
(*) Additions / deductions include e-AB reserves
SCHEDULE 3 - DEPOSITS (` in Thousands)

A. I. DEMAND DEPOSITS
I) From Banks 289 29 18 211 10 71
ii) From Others 32055 27 51 13337 91 83
TOTAL 32344 56 69 13549 02 54
II. SAVINGS BANK DEPOSITS 195250 29 37 76609 10 59
III. TERM DEPOSITS
I) From Banks 5323 09 87 4111 94 38
ii) From Others 305153 15 56 165955 82 19
TOTAL 310476 25 43 170067 76 57
TOTAL (I+II+III) 538071 11 49 260225 89 70
B. i) Deposits of branches in India 529264 23 30 252792 25 88
ii) Deposits of branches outside India 8806 88 19 7433 63 82
TOTAL 538071 11 49 260225 89 70
SCHEDULE 4 - BORROWINGS (` in Thousands)

I. BORROWINGS IN INDIA
I) Reserve Bank of India 5032 04 04 11529 90 30
ii) Other Banks 13 72 10 88
iii) Other Institutions and Agencies * 14935 73 74 6418 86 00
TOTAL 19967 91 50 17948 87 18
II. BORROWINGS OUTSIDE INDIA ** 6206 68 32 2881 43 78
TOTAL (I+II) 26174 59 82 20830 30 96
Secured Borrowings included above 5032 04 04 11529 90 30
* includes AT-1 Capital -Perpetual Debt Instrument of ` 2000 00 00 (P.Y. ` 500 00 00) and Tier II Capital - Subordinated debt of ` 7600 00
00
(P.Y. ` 2600 00 00).
** Includes pipeline and un-adjusted items in Nostro Mirror Balances
SCHEDULE 5 - OTHER LIABILITIES AND PROVISIONS (` in Thousands)

I. Bills Payable 2822 90 69 494 00 20
II. Inter Office Adjustments(Net) 6228 15 32 -
III. Interest Accrued 1041 86 06 845 32 77
IV. Others(including Provisions) * 13254 44 12 4983 36 95
TOTAL 23347 36 19 6322 69 92
* includes Contingent Provisions against Standard Assets of ` 282 68 255 (P.Y - ` 961 08 29)
SCHEDULE 6 - CASH AND BALANCES WITH RESERVE BANK OF INDIA (` in Thousands)

I. Cash in hand (including foreign currency notes) 1658 27 76 1006 08 85

II. Balances with Reserve Bank of India in Current Account 25886 80 41 4730 03 58
TOTAL (I+II) 27545 08 17 5736 12 43
(` in Thousands)
SCHEDULE 7 - BALANCES WITH BANKS AND MONEY AT CALL AND SHORT NOTICE
I. IN INDIA
i) Balances with Banks
a) in Current Account 95 08 44 5 35 06
b) in Other Deposit Accounts 2046 43 44 713 36 57
TOTAL (I) 2141 51 88 718 71 63
ii) Money at Call and Short Notice (with Banks) 8900 00 01 2100 00 01
TOTAL (ii) 8900 00 01 2100 00 01
TOTAL (i + ii) 11041 51 89 2818 71 64
II. OUTSIDE INDIA
I) in Current Accounts 1577 67 70 530 92 57
ii) in other Deposit Accounts 13866 22 54 4830 26 44
iii) Money at Call and Short Notice 29 37 42 8 65 32
TOTAL (i + ii + iii) 15473 27 66 5369 84 33
GRAND TOTAL (I +II) 26514 79 55 8188 55 97
SCHEDULE 8 - INVESTMENTS (` in Thousands)
I. INVESTMENTS IN INDIA
Gross Investments 179570 44 81 81665 09 41
Less : Provision for Depreciation & NPI 3437 58 50 1282 86 31
Less: Provision on Security Receipts 1922 31 20 1311 53 07
Net Investments 174210 55 11 79070 70 03
I) Government Securities 157550 39 28 67537 87 44
ii) Other approved Securities 5 22 76 2 98 83
iii) Shares 986 58 19 351 87 70
iv) Debentures and bonds 13359 15 13 6715 54 67
v) Subsidiaries and/or joint ventures (including Associates) 216 16 81 101 15 25
vi) Others 2093 02 94 4361 26 14
TOTAL 174210 55 11 79070 70 03
II. INVESTMENT OUTSIDE INDIA

Gross Investments 2420 89 82 2268 26 80
Less Provision for Depreciation & NPI 94 48 31 97 28 03
Net Investments 2326 41 51 2170 98 77
I) Government Securities (including local authorities) 2304 10 19 2149 36 57
ii) Other investments
(a) Shares 59 71 43 53
(b) Debt Securities 21 71 61 21 18 67
TOTAL 2326 41 51 2170 98 77
NET GRAND TOTAL (I+II) 176536 96 62 81241 68 80
SCHEDULE 9 - ADVANCES (` in Thousands)

I) Bills purchased and discounted 2131 68 93 1453 59 19
ii) Cash Credit, Overdrafts and loans repayable on demand 221263 43 24 99136 74 77
iii) Term Loans 140615 11 89 97296 67 19
TOTAL 364010 24 06 197887 01 15
I) Secured by tangible assets (includes advance against bookdebts) 320789 57 49 161337 53 81
ii) Covered by bank/Government guarantee 22887 65 72 4056 48 84
iii) Unsecured 20333 00 85 32492 98 50
TOTAL 364010 24 06 197887 01 15
I. ADVANCES IN INDIA
I) Priority Sector 157623 42 54 90415 78 93
ii) Public Sector 64398 77 88 17991 68 34
iii) Banks 169 24 06 772 90 59
iv) Others 131534 30 98 80515 67 81
TOTAL 353725 75 46 189696 05 67
II. ADVANCES OUTSIDE INDIA
I) Dues from Banks 4475 58 45 2254 59 78
ii) Dues from others
a) Bills Purchased and discounted 771 50 63 970 27 17
b) Syndicated loans 3526 55 17 3355 58 88
c) Others 1510 84 35 1610 49 65
TOTAL 10284 48 60 8190 95 48
GRAND TOTAL (I+II) 364010 24 06 197887 01 15
RIDF and PSLC had not been deducted or added from Priority Sector
SCHEDULE 10 - FIXED ASSETS (` in Thousands)
I. PREMISES (Incl. Revalued Premises)
At cost/revaluation as per the last Balance Sheet (*) 6853 35 76 3762 94 58
Additions/Adjustments during the year 3 99 76 3 63 15
Sub Total 6857 35 52 3766 57 73
Sub Total 6857 35 52 3766 57 73
Depreciation to date (*) 1243 94 40 832 07 90
TOTAL 5613 41 12 2934 49 83
II. LEASED ASSETS
At cost/revaluation as per the last Balance Sheet (*) 530 52 79 244 97 37
Additions/Adjustments during the year 0 0
Sub Total 530 52 79 244 97 37
Sub Total 530 52 79 244 97 37
TOTAL 487 60 09 240 45 32
III. BUILDINGS UNDER CONSTRUCTION 1 06 54 78 25
IV. OTHER FIXED ASSETS (including Furniture and Fixtures)
At cost as per last Balance Sheet (*) 4121 12 83 2056 01 96
Additions/Adjustments during the year 554 37 72 255 42 34
Sub Total 4675 50 55 2311 44 30
Deductions during the year 47 34 82 51 56 44
Sub Total 4628 15 73 2259 87 86
TOTAL 1274 23 39 720 01 02
TOTAL (I+II+III+IV) 7376 31 14 3895 74 42
(*) Opening Balance of Cost/revaluation and depreciation to date include Assets taken over as part of amalgamation.
SCHEDULE 11 - OTHER ASSETS (` in Thousands)
I. Inter Office Adjustment (net) 0 2044 28 71
II. Interest Accrued 2766 81 86 1283 47 23
III. Tax paid in advance/tax deducted at source (net) 6625 26 70 4356 23 89
IV. Stationery and Stamps 46 37 53 17 56 30
V. Non-banking assets acquired in satisfaction of claims 51 38 26 20 26 11
VI. Others* 14531 78 10 4797 22 43
TOTAL 24021 62 45 12519 04 67
* includes RIDF/SIDBI/RHDF/NHB Deposits held under HTM Category 1304 51 23 284 72 93
SCHEDULE 12 - CONTINGENT LIABILITIES (` in Thousands)
I. Claims against the bank not acknowledged as debts* 953 36 91 651 26 63
II. Liability for partly paid investments 373 81 66 400 32 98
III. Liability on account of outstanding forward exchange contracts 254856 84 39 20382 57 13
IV. Guarantee given on behalf of constituents*
a) In India 17792 78 38 8930 01 79
b) Outside India 379 99 49 382 63 47
V. Acceptance, Endorsements and other obligations* 9394 28 29 6401 33 66
VI. Other items for which the bank is contingently liable 9782 36 98 5428 70 62
TOTAL 293533 46 10 42576 86 28
* Contingent Liability has been considered net of margin

SCHEDULE 13 - INTEREST EARNED (` in Thousands)
PARTICULARS Y E 31.03.2021 Y E 31.03.2020

(Audited) (Audited)
I. Interest/Discount on Advances/Bills 27454 63 11 15933 04 15
II. Income on Investments 11166 89 38 5278 82 36
III. Interest on balances with Reserve Bank of India and other Inter Bank funds 425 45 97 177 42 66
IV. Others 58 80 19 15 67 75
TOTAL 39105 78 65 21404 96 92
SCHEDULE 14 - OTHER INCOME (` in Thousands)
I. Commission, Exchange and Brokerage 753 08 93 338 66 77
II. Profit on Sale of Investments 2259 91 38 934 93 94
Less: Loss on Sale of Investments 135 67 19 55 20 58
Net 2124 24 19 879 73 36
III. Profit on revaluation of Investments 0 0
Less: Loss on revaluation of Investments 0 0
Net 0 0
IV. Profit on sale of land, buildings and other assets * 2 83 09 3 13 61
Less: Loss on Sale of Land, Bldgs. & Other Assets * 3 22 28 2 40 22
Net - 39 19 73 39
V. Profit on exchange transactions (Net) 405 92 51 202 05 96
VI. Income earned by way of dividends, etc., from Subsidiaries/Companies

and/or Joint ventures abroad/in India 12 45 06 12 69 28
VII. Miscellaneous Income 2783 93 88 1878 57 67
TOTAL 6079 25 38 3312 46 43
* Amount relates to Safe, Furniture, Vehicle & Machinery

SCHEDULE 15 - INTEREST EXPENDED (` in Thousands)
I. Interest on deposits 22220 79 49 12996 10 31
II. Interest on Reserve Bank of India/Inter Bank borrowings 1048 64 54 757 94 57
III.Others 170 39 87 44 50 43
TOTAL 23439 83 90 13798 55 31
SCHEDULE 16 - OPERATING EXPENSES (` in Thousands)
I. Payments to and provisions for employees 6378 23 81 2472 96 30
II. Rent, Taxes and Lighting 602 83 47 317 91 89
III. Printing and Stationery 57 65 50 30 54 18
IV. Advertisement and Publicity 11 66 17 8 83 46
V. Depreciation on Bank's property 632 87 20 313 63 06
VI. Directors' fees allowance and expenses 39 60 89 93
VII. Auditors' fees and expenses(including branch auditors) 63 01 86 34 18 00
VIII Law Charges 20 19 41 8 58 34
IX. Postage, Telegrams and Telephones 117 18 86 51 66 96
X. Repairs and Maintenance 197 09 98 93 72 73
XI. Insurance 682 46 34 286 90 24
XII. Other Expenditure 1585 93 08 800 98 83
TOTAL 10349 55 28 4420 83 92

Balance Sheet As On March 31, 2021: Capital & Liabilities

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Balance Sheet As On March 31, 2021: Capital & Liabilities

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BALANCE SHEET AS ON MARCH 31, 2021 (` in Thousands)

Ms. PADMAJA CHUNDURU

IMRAN AMIN SIDDIQUI SHENOY VISHWANATH V

Dr. BHARATH KRISHNA SANKAR

STATUTORY CENTRAL AUDITORS

For M/s. P K F SRIDHAR & SANTHANAM LLP

Ms. PADMAJA CHUNDURU

IMRAN AMIN SIDDIQUI K RAMACHANDRAN SHENOY VISHWANATH V

Dr. BHARATH KRISHNA SANKAR

STATUTORY CENTRAL AUDITORS

For M/s. P K F SRIDHAR & SANTHANAM LLP

a. 99,45,49,600 Equity shares of Rs.10/- each

b. 13,48,16,970 Equity shares of Rs.10/- each held by Public

Total 1129 36 66 608 80 06

PARTICULARS As on 31.03.2021 As on 31.03.2020

SCHEDULE 3 - DEPOSITS (` in Thousands)

PARTICULARS As on 31.03.2021 As on 31.03.2020

SCHEDULE 4 - BORROWINGS (` in Thousands)

PARTICULARS As on 31.03.2021 As on 31.03.2020

SCHEDULE 6 - CASH AND BALANCES WITH RESERVE BANK OF INDIA (` in Thousands)

I. Cash in hand (including foreign currency notes) 1658 27 76 1006 08 85

SCHEDULE 8 - INVESTMENTS (` in Thousands)

PARTICULARS As on 31.03.2021 As on 31.03.2020

II. INVESTMENT OUTSIDE INDIA

SCHEDULE 9 - ADVANCES (` in Thousands)

PARTICULARS As on 31.03.2021 As on 31.03.2020

PARTICULARS As on 31.03.2021 As on 31.03.2020

I. PREMISES (Incl. Revalued Premises)

At cost/revaluation as per the last Balance Sheet (*) 6853 35 76 3762 94 58

Additions/Adjustments during the year 3 99 76 3 63 15

Sub Total 6857 35 52 3766 57 73

Deductions during the year 0 0

Sub Total 6857 35 52 3766 57 73

Depreciation to date (*) 1243 94 40 832 07 90

TOTAL 5613 41 12 2934 49 83

II. LEASED ASSETS

At cost/revaluation as per the last Balance Sheet (*) 530 52 79 244 97 37

Additions/Adjustments during the year 0 0

Sub Total 530 52 79 244 97 37

Deductions during the year 0 0

Sub Total 530 52 79 244 97 37

Depreciation to date (*) 42 92 70 4 52 05

TOTAL 487 60 09 240 45 32

III. BUILDINGS UNDER CONSTRUCTION 1 06 54 78 25

IV. OTHER FIXED ASSETS (including Furniture and Fixtures)

At cost as per last Balance Sheet (*) 4121 12 83 2056 01 96

Additions/Adjustments during the year 554 37 72 255 42 34

Sub Total 4675 50 55 2311 44 30

Deductions during the year 47 34 82 51 56 44

Sub Total 4628 15 73 2259 87 86

Depreciation to date (*) 3353 92 34 1539 86 84

TOTAL 1274 23 39 720 01 02

TOTAL (I+II+III+IV) 7376 31 14 3895 74 42

PARTICULARS As on 31.03.2021 As on 31.03.2020

I. Inter Office Adjustment (net) 0 2044 28 71

II. Interest Accrued 2766 81 86 1283 47 23

III. Tax paid in advance/tax deducted at source (net) 6625 26 70 4356 23 89

IV. Stationery and Stamps 46 37 53 17 56 30

V. Non-banking assets acquired in satisfaction of claims 51 38 26 20 26 11

VI. Others* 14531 78 10 4797 22 43

TOTAL 24021 62 45 12519 04 67

* includes RIDF/SIDBI/RHDF/NHB Deposits held under HTM Category 1304 51 23 284 72 93

SCHEDULE 12 - CONTINGENT LIABILITIES (` in Thousands)