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Investments (Tables)

12 Months Ended

Mar. 31, 2020

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, 2019 and March 31, 2020 were as follows:

		As of March 31,
		2019								2020
		Amortized Cost				Fair Value				Amortized Cost				Fair Value
		(In millions)
Available for sale credit substitute debt securities:
Debentures		Rs.	247,869.1			Rs.	247,152.5			Rs.	236,717.2			Rs.	237,980.3
Commercial paper			25,681.6				25,734.3				124,024.3				124,393.4
Total		Rs.	273,550.7			Rs.	272,886.8			Rs.	360,741.5			Rs.	362,373.7
										US$	4,785.0			US$	4,806.7

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, 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

Available for Sale Securities Amortized Cost and Fair Value

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

Unrealized loss position investments

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

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, 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

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, 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

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,
		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

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