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v3.20.2

Investments | 12 Months Ended
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Mar. 31, 2020
Held for Trading |
Investments | 4. Investments, held for trading The portfolio of trading securities as of March 31, 2019 and March 31, 2020 was as follows:
|  | 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 |  |  |  | — |  |  |  | 97,262.8 |
Total |  | Rs. | 265,011.1 |  |  | Rs. | 506.2 |  |  | Rs. | 1.2 |  |  | Rs. | 265,516.1 |
|  | As of March 31, 2020 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (In millions) |
Government of India securities |  | Rs. | 207,131.4 |  |  | Rs. | 592.9 |  |  | Rs. | 17.2 |  |  | Rs. | 207,707.1 |
Other corporate/financial institution securities |  |  | 4,495.9 |  |  |  | 7.1 |  |  |  | 32.5 |  |  |  | 4,470.5 |
Total debt securities |  | Rs. | 211,627.3 |  |  | Rs. | 600.0 |  |  | Rs. | 49.7 |  |  | Rs. | 212,177.6 |
Other securities (including mutual fund units) |  |  | 92,683.9 |  |  |  | 101.4 |  |  |  | — |  |  |  | 92,785.3 |
Total |  | Rs. | 304,311.2 |  |  | Rs. | 701.4 |  |  | Rs. | 49.7 |  |  | Rs. | 304,962.9 |
Total |  | US$ | 4,036.5 |  |  | US$ | 9.3 |  |  | US$ | 0.7 |  |  | US$ | 4,045.1 |
Available-for-Sale Debt Securities |
Investments | 5. Investments, available for sale debt securities The portfolio of available for sale debt securities as of March 31, 2019 and March 31, 2020 was as follows:
|  | 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 |  |  |  | — |  |  |  | 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 |  |  |  | — |  |  |  | 1,376.6 |
Total |  | Rs. | 2,617,505.3 |  |  | Rs. | 27,846.4 |  |  | Rs. | 12,003.3 |  |  | Rs. | 2,633,348.4 |
Securities with gross unrealized losses |  |  |  |  |  |  |  |  |  |  |  |  |  | Rs. | 799,718.5 |
Securities with gross unrealized gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,833,629.9 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Rs. | 2,633,348.4 |
(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.
|  | As of March 31, 2020 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (In millions) |
Government of India securities |  | Rs. | 2,637,464.4 |  |  | Rs. | 52,630.0 |  |  | Rs. | 1,491.6 |  |  | Rs. | 2,688,602.8 |
State government securities |  |  | 177,055.9 |  |  |  | 11,337.7 |  |  |  | — |  |  |  | 188,393.6 |
Government securities outside India |  |  | 8,367.0 |  |  |  | 48.4 |  |  |  | — |  |  |  | 8,415.4 |
Credit substitutes (see note 7) |  |  | 360,741.5 |  |  |  | 2,309.5 |  |  |  | 677.3 |  |  |  | 362,373.7 |
Other corporate/financial institution bonds |  |  | 29,710.9 |  |  |  | 212.8 |  |  |  | 409.6 |  |  |  | 29,514.1 |
Debt securities, other than asset and mortgage-backed securities |  |  | 3,213,339.7 |  |  |  | 66,538.4 |  |  |  | 2,578.5 |  |  |  | 3,277,299.6 |
Mortgage-backed securities |  |  | 37.3 |  |  |  | 0.8 |  |  |  | — |  |  |  | 38.1 |
Asset-backed securities |  |  | 125,931.2 |  |  |  | 1,746.0 |  |  |  | 150.0 |  |  |  | 127,527.2 |
Other securities (including mutual fund units) |  |  | 1,424.1 |  |  |  | 0.2 |  |  |  | — |  |  |  | 1,424.3 |
Total |  | Rs. | 3,340,732.3 |  |  | Rs. | 68,285.4 |  |  | Rs. | 2,728.5 |  |  | Rs. | 3,406,289.2 |
Total |  | US$ | 44,312.6 |  |  | US$ | 905.8 |  |  | US$ | 36.2 |  |  | US$ | 45,182.2 |
Securities with gross unrealized losses |  |  |  |  |  |  |  |  |  |  |  |  |  | Rs. | 300,932.1 |
Securities with gross unrealized gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,105,357.1 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Rs. | 3,406,289.2 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | US$ | 45,182.2 |
AFS investments of Rs. 2,309,003.7 million and Rs. 2,876,996.4 million (US$ 38,161.5 million) as of March 31, 2019 and March 31, 2020, respectively, are eligible towards the Bank’s statutory liquidity reserve requirements. These balances are subject to withdrawal and usage restrictions towards the reserve requirements, but may be freely traded by the Bank. Of these investments, Rs. 1,634,673.3 million as of March 31, 2019 and Rs. 1,760,859.1 million (US$ 23,356.7 million) as of March 31, 2020, were kept as margins for clearing, collateral borrowing and lending obligation (CBLO) and real time gross settlement (RTGS), with the Reserve Bank of India and other financial institutions. The Bank evaluated the impaired investments and has fully recognized an expense of Rs. 149.1 million, Rs. 1,081.0 million and Rs. 9,109.0 million (USD 120.8 million) as other than temporary impairment in fiscal year 2018, 2019 and 2020, respectively, because the Bank intends to sell the securities before recovery of their amortized cost. The Bank is of the opinion that the other unrealized losses on its investments in debt securities as of March 31, 2020 are temporary in nature. As of March 31, 2019 and March 31, 2020, the Bank did not hold any debt securities with credit losses for which a portion of other-than-temporary impairment was recognized in other comprehensive income. 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. | — |  |  | Rs. | — |  |  | Rs. | 568,759.0 |  |  | Rs. | 9,834.9 |  |  | Rs. | 568,759.0 |  |  | Rs. | 9,834.9 |
State government securities |  |  | — |  |  |  | — |  |  |  | 27,415.5 |  |  |  | 475.7 |  |  |  | 27,415.5 |  |  |  | 475.7 |
Government securities outside India |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
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 |  |  | — |  |  |  | — |  |  |  | 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 |  |  | — |  |  |  | — |  |  |  | 45.7 |  |  |  | 0.4 |  |  |  | 45.7 |  |  |  | 0.4 |
Asset-backed securities |  |  | 14,191.2 |  |  |  | 48.9 |  |  |  | 3,492.7 |  |  |  | 73.3 |  |  |  | 17,683.9 |  |  |  | 122.2 |
Other securities (including mutual fund units) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | Rs. | 32,187.5 |  |  | Rs. | 137.0 |  |  | Rs. | 767,531.0 |  |  | Rs. | 11,866.3 |  |  | Rs. | 799,718.5 |  |  | Rs. | 12,003.3 |
The gross unrealized losses and fair value of available for sale debt securities at March 31, 2020 was as follows:
|  | As of March 31, 2020 |  |  |  |  |  |  |
|  | 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. | 24,492.8 |  |  | Rs. | 69.8 |  |  | Rs. | 158,735.8 |  |  | Rs. | 1,421.8 |  |  | Rs. | 183,228.6 |  |  | Rs. | 1,491.6 |
State government securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Government securities outside India |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Credit substitutes (see note 7) |  |  | 38,039.9 |  |  |  | 481.2 |  |  |  | 18,680.4 |  |  |  | 196.1 |  |  |  | 56,720.3 |  |  |  | 677.3 |
Other corporate/financial institution bonds |  |  | 18,626.2 |  |  |  | 409.6 |  |  |  | — |  |  |  | — |  |  |  | 18,626.2 |  |  |  | 409.6 |
Debt securities, other than asset and mortgage-backed securities |  |  | 81,158.9 |  |  |  | 960.6 |  |  |  | 177,416.2 |  |  |  | 1,617.9 |  |  |  | 258,575.1 |  |  |  | 2,578.5 |
Mortgage-backed securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Asset-backed securities |  |  | 41,510.7 |  |  |  | 144.7 |  |  |  | 846.3 |  |  |  | 5.3 |  |  |  | 42,357.0 |  |  |  | 150.0 |
Other securities (including mutual fund units) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | Rs. | 122,669.6 |  |  | Rs. | 1,105.3 |  |  | Rs. | 178,262.5 |  |  | Rs. | 1,623.2 |  |  | Rs. | 300,932.1 |  |  | Rs. | 2,728.5 |
Total |  | US$ | 1,627.1 |  |  | US$ | 14.7 |  |  | US$ | 2,364.5 |  |  | US$ | 21.5 |  |  | US$ | 3,991.6 |  |  | US$ | 36.2 |
The contractual residual maturity of available for sale debt securities other than asset and mortgage-backed securities as of March 31, 2020 is set out below:
|  | As of March 31, 2020 |
|  | Amortized Cost |  |  | Fair Value |  |  | Fair Value |
|  | (In millions) |
Within one year |  | Rs. | 1,112,389.9 |  |  | Rs. | 1,115,946.4 |  |  | US$ | 14,802.3 |
Over one year through five years |  |  | 838,625.0 |  |  |  | 861,818.8 |  |  |  | 11,431.5 |
Over five years through ten years |  |  | 916,798.3 |  |  |  | 946,302.3 |  |  |  | 12,552.1 |
Over ten years |  |  | 345,526.5 |  |  |  | 353,232.1 |  |  |  | 4,685.4 |
Total |  | Rs. | 3,213,339.7 |  |  | Rs. | 3,277,299.6 |  |  | US$ | 43,471.3 |
The contractual residual maturity of available for sale mortgage-backed and asset-backed debt securities as of March 31, 2020 is set out below:
|  | As of March 31, 2020 |
|  | Amortized Cost |  |  | Fair Value |  |  | Fair Value |
|  | (In millions) |
Within one year |  | Rs. | 47,973.3 |  |  | Rs. | 48,473.5 |  |  | US$ | 643.0 |
Over one year through five years |  |  | 75,458.2 |  |  |  | 76,412.3 |  |  |  | 1,013.6 |
Over five years through ten years |  |  | 1,576.5 |  |  |  | 1,621.6 |  |  |  | 21.5 |
Over ten years |  |  | 960.5 |  |  |  | 1,057.9 |  |  |  | 14.0 |
Total |  | Rs. | 125,968.5 |  |  | Rs. | 127,565.3 |  |  | US$ | 1,692.1 |
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, |
|  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2020 |
|  | (In millions) |
Gross realized gains on sale |  | Rs. | 11,433.8 |  |  | Rs. | 3,788.1 |  |  | Rs. | 26,128.1 |  |  | US$ | 346.6 |
Gross realized losses on sale |  |  | (580.6 | ) |  |  | (1,192.1 | ) |  |  | (301.9 | ) |  |  | (4.0 | )
Realized gains (losses), net |  |  | 10,853.2 |  |  |  | 2,596.0 |  |  |  | 25,826.2 |  |  |  | 342.6 |
Dividends and interest |  |  | 158,209.2 |  |  |  | 190,992.5 |  |  |  | 198,383.2 |  |  |  | 2,631.4 |
Total |  | Rs. | 169,062.4 |  |  | Rs. | 193,588.5 |  |  | Rs. | 224,209.4 |  |  | US$ | 2,974.0 |
Held-to-maturity Securities |
Investments | 6. Investments, held to maturity There were no HTM securities as of March 31, 2019 and March 31, 2020.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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