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Investments (Tables)

12 Months Ended

Mar. 31, 2019

Credit Substitutes

Available for Sale Securities Amortized Cost and Fair Value

The fair values of credit substitutes by type of instrument as of March 31, 2018 and March 31, 2019 were as follows:

		As of March 31,
		2018								2019
		Amortized Cost				Fair Value				Amortized Cost				Fair Value
		(In millions)
Available for sale credit substitute debt securities:
Debentures		Rs.	290,893.5			Rs.	289,782.9			Rs.	247,869.1			Rs.	247,152.5
Commercial paper			34,265.8				34,248.6				25,681.6				25,734.3
Total		Rs.	325,159.3			Rs.	324,031.5			Rs.	273,550.7			Rs.	272,886.8
										US$	3,955.3			US$	3,945.8

Held for Trading

Portfolio of Trading Securities or Held for Trading Securities Amortized Cost Fair Value

The portfolio of trading securities as of March 31, 2018 and March 31, 2019 was as follows:

		As of March 31, 2018
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In millions)
Government of India securities		Rs.	25,962.2			Rs.	19.0			Rs.	8.0			Rs.	25,973.2
Other corporate/financial institution securities			49,982.3				62.8				0.4				50,044.7
Total debt securities		Rs.	75,944.5			Rs.	81.8			Rs.	8.4			Rs.	76,017.9
Other securities (including mutual fund units)			91,488.6				7.4				0.0				91,496.0
Total		Rs.	167,433.1			Rs.	89.2			Rs.	8.4			Rs.	167,513.9
		As of March 31, 2019
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In millions)
Government of India securities		Rs.	134,084.9			Rs.	163.2			Rs.	0.1			Rs.	134,248.0
Other corporate/financial institution securities			33,990.6				15.8				1.1				34,005.3
Total debt securities		Rs.	168,075.5			Rs.	179.0			Rs.	1.2			Rs.	168,253.3
Other securities (including mutual fund units)			96,935.6				327.2				0.0				97,262.8
Total		Rs.	265,011.1			Rs.	506.2			Rs.	1.2			Rs.	265,516.1
Total		US$	3,831.9			US$	7.3			US$	0.0			US$	3,839.2

Available-for-Sale Debt Securities

Available for Sale Securities Amortized Cost and Fair Value

The portfolio of available for sale debt securities as of March 31, 2018 and March 31, 2019 was as follows:

		As of March 31, 2018
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In millions)
Government of India securities		Rs.	1,748,761.0			Rs.	9,169.5			Rs.	16,843.9			Rs.	1,741,086.6
State government securities			123,426.9				2,349.7				729.0				125,047.6
Government securities outside India			4,223.8				0.0				6.8				4,217.0
Credit substitutes (see note 7)			325,159.3				495.3				1,623.1				324,031.5
Other corporate/financial institution bonds			8,226.0				0.1				59.0				8,167.1
Debt securities, other than asset and mortgage-backed securities			2,209,797.0				12,014.6				19,261.8				2,202,549.8
Mortgage-backed securities			82.2				2.8				0.1				84.9
Asset-backed securities			18,966.5				62.9				358.7				18,670.7
Other securities (including mutual fund units) (1)			137.6				0.3				0.0				137.9
Total		Rs.	2,228,983.3			Rs.	12,080.6			Rs.	19,620.6			Rs.	2,221,443.3
Securities with gross unrealized losses														Rs.	1,174,742.9
Securities with gross unrealized gains															1,046,700.4
														Rs.	2,221,443.3
		As of March 31, 2019
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In millions)
Government of India securities		Rs.	2,147,934.6			Rs.	21,881.4			Rs.	9,834.9			Rs.	2,159,981.1
State government securities			144,633.7				4,864.6				475.7				149,022.6
Government securities outside India			7,201.6				3.3				0.0				7,204.9
Credit substitutes (see note 7)			273,550.7				899.9				1,563.8				272,886.8
Other corporate/financial institution bonds			3,925.0				30.9				6.3				3,949.6
Debt securities, other than asset and mortgage-backed securities			2,577,245.6				27,680.1				11,880.7				2,593,045.0
Mortgage-backed securities			56.3				1.0				0.4				56.9
Asset-backed securities			38,827.1				165.0				122.2				38,869.9
Other securities (including mutual fund units) (1)			1,376.3				0.3				0.0				1,376.6
Total		Rs.	2,617,505.3			Rs.	27,846.4			Rs.	12,003.3			Rs.	2,633,348.4
Total		US$	37,847.2			US$	402.6			US$	173.6			US$	38,076.2
Securities with gross unrealized losses														Rs.	799,718.5
Securities with gross unrealized gains															1,833,629.9
														Rs.	2,633,348.4
														US$	38,076.2

(1) The Bank adopted ASU 2016-01 and ASU 2018-03 as of April 1, 2018, resulting in a cumulative effect adjustment from AOCI to retained earnings for net unrealized gains on marketable equity securities AFS. The available-for sale category was eliminated for equity securities amortized cost Rs. 855.6 million and carrying value Rs. 1,267.7 million effective April 1, 2018. See note 2 (w)(ii) and note 14 to the Consolidated Financial Statements for additional details.

Unrealized loss position investments

The gross unrealized losses and fair value of available for sale debt securities at March 31, 2018 was as follows:

		As of March 31, 2018
		Less Than 12 Months								12 Months or Greater								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
										(In millions)
Government of India securities			Rs.540,941.5				Rs.8,852.9				Rs.342,621.5				Rs.7,991.0				Rs.883,563.0				Rs.16,843.9
State government securities			31,940.1				729.0				0.0				0.0				31,940.1				729.0
Government securities outside India			4,217.0				6.8				0.0				0.0				4,217.0				6.8
Credit substitutes (see note 7)			159,026.1				1,002.8				73,734.9				620.3				232,761.0				1,623.1
Other corporate/financial institution bonds			4,057.2				51.8				4,109.6				7.2				8,166.8				59.0
Debt securities, other than asset and mortgage-backed securities			740,181.9				10,643.3				420,466.0				8,618.5				1,160,647.9				19,261.8
Mortgage-backed securities			57.0				0.1				0.0				0.0				57.0				0.1
Asset-backed securities			8,331.9				213.1				5,706.1				145.6				14,038.0				358.7
Other securities (including mutual fund units)			0.0				0.0				0.0				0.0				0.0				0.0
Total			Rs.748,570.8				Rs.10,856.5				Rs.426,172.1				Rs.8,764.1				Rs.1,174,742.9				Rs.19,620.6

The gross unrealized losses and fair value of available for sale debt securities at March 31, 2019 was as follows:

		As of March 31, 2019
		Less Than 12 Months								12 Months or Greater								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
										(In millions)
Government of India securities		Rs.	0.0			Rs.	0.0			Rs.	568,759.0			Rs.	9,834.9			Rs.	568,759.0			Rs.	9,834.9
State government securities			0.0				0.0				27,415.5				475.7				27,415.5				475.7
Government securities outside India			0.0				0.0				0.0				0.0				0.0				0.0
Credit substitutes (see note 7)			17,996.3				88.1				165,700.5				1,475.7				183,696.8				1,563.8
Other corporate/financial institution bonds			0.0				0.0				2,117.6				6.3				2,117.6				6.3
Debt securities, other than asset and mortgage-backed securities			17,996.3				88.1				763,992.6				11,792.6				781,988.9				11,880.7
Mortgage-backed securities			0.0				0.0				45.7				0.4				45.7				0.4
Assetbacked securities			14,191.2				48.9				3,492.7				73.3				17,683.9				122.2
Other securities (including mutual fund units)			0.0				0.0				0.0				0.0				0.0				0.0
Total		Rs.	32,187.5			Rs.	137.0			Rs.	767,531.0			Rs.	11,866.3			Rs.	799,718.5			Rs.	12,003.3
Total		US$	465.4			US$	2.0			US$	11,097.9			US$	171.6			US$	11,563.3			US$	173.6

Debt securities, other than asset and mortgage-backed securities | Available-for-Sale Debt Securities

Investments Classified by Contractual Maturity Date

The contractual residual maturity of available for sale debt securities other than asset and mortgage-backed securities as of March 31, 2019 is set out below:

		As of March 31, 2019
		Amortized Cost				Fair Value				Fair Value
		(In millions)
Within one year		Rs.	767,752.7			Rs.	769,080.4			US$	11,120.3
Over one year through five years			547,095.3				554,493.3				8,017.5
Over five years through ten years			862,305.7				868,843.0				12,562.8
Over ten years			400,091.9				400,628.3				5,792.8
Total		Rs.	2,577,245.6			Rs.	2,593,045.0			US$	37,493.4

Asset and Mortgage Backed Securities | Available-for-Sale Debt Securities

Investments Classified by Contractual Maturity Date

The contractual residual maturity of available for sale mortgage-backed and asset-backed debt securities as of March 31, 2019 is set out below:

		As of March 31, 2019
		Amortized Cost				Fair Value				Fair Value
		(In millions)
Within one year		Rs.	19,027.9			Rs.	19,015.0			US$	274.9
Over one year through five years			19,812.5				19,836.4				286.8
Over five years through ten years			13.2				13.0				0.2
Over ten years			29.8				62.4				0.9
Total		Rs.	38,883.4			Rs.	38,926.8			US$	562.8

Realized Investment Gains Losses Net

Gross realized gains and gross realized losses from sale of available for sale debt securities and dividends and interest on such securities are set out below:

		Fiscal year ended March 31,
		2017				2018				2019				2019
		(In millions)
Gross realized gains on sale		Rs.	10,108.2			Rs.	11,433.8			Rs.	3,788.1			US$	54.8
Gross realized losses on sale			(502.0	)			(580.6	)			(1,192.1	)			(17.3	)
Realized gains (losses), net			9,606.2				10,853.2				2,596.0				37.5
Dividends and interest			154,618.6				158,209.2				190,992.5				2,761.6
Total		Rs.	164,224.8			Rs.	169,062.4			Rs.	193,588.5			US$	2,799.1

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