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Long-term debt (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Long-term Debt Instruments

The below table presents the balance of long-term debt as of March 31, 2019 and March 31, 2020 and the related contractual rates and maturity dates:

		As of,
		March 31, 2019										March 31, 2020
		Maturity / Call dates				Stated interest rates		Total				Maturity / Call dates				Stated interest rates		Total				Total
		(In millions)
Subordinated debt
Subordinated debt (other than perpetual debt)			2021-2029			7.56% to 10.20%		Rs.	128,315.8				2021-2030			7.56% to 10.20%		Rs.	133,730.8			US$	1,773.9
Perpetual debt			2023-2029			8.85% to 9.40%			82,997.9				2023-2030			8.84% to 9.70%			84,972.7				1,127.1
Others*
Variable rate—(1)			2020-2022			3.30% to 3.88%			36,288.8				2021-2023			0.80% to 2.87%			59,018.7				782.8
Variable rate—(2)			2020-2024			8.25% to 10.05%			116,615.2				2021-2024			7.50% to 8.95%			118,083.8				1,566.3
Fixed rate—(1)			2020-2029			4.60% to 9.56%			680,335.3				2021-2030			4.15% to 9.56%			630,712.3				8,366.0
Total								Rs.	1,044,553.0									Rs.	1,026,518.3			US$	13,616.1

* Variable rate (1) represent foreign currency debt. Variable rate debt is typically indexed to LIBOR, T-bill rates, Marginal cost of funds based lending rates (MCLR), among others.

Maturities of Long-Term Debt Disclosures

The scheduled maturities of long-term debt are set out below:

		As of March 31, 2020
		(In millions)
Due in the twelve months ending March 31:
2021			Rs.  223,540.8			US$	2,965.1
2022			125,258.5				1,661.5
2023			192,835.2				2,557.8
2024			58,948.6				781.9
2025			60,797.6				806.4
Thereafter			280,164.9				3,716.2
Total (1)			Rs.  941,545.6			US$	12,488.9

(1) The scheduled maturities of long-term debt do not include perpetual bonds of Rs. 84,972.7 million (net of debt issuance cost).

Long-term Debt

Schedule of Long-term Debt Instruments

Long-term debt as of March 31, 2019 and March 31, 2020 comprised of the following:

		As of March 31,
		2019				2020				2020
		(In millions)
Subordinated debt		Rs.	211,320.0			Rs.	218,755.0			US$	2,901.6
Others*			833,265.2				808,222.0				10,720.5
Less: Debt issuance cost			(32.2	)			(458.7	)			(6.0	)
Total		Rs.	1,044,553.0			Rs.	1,026,518.3			US$	13,616.1

* Includes securities sold under repurchase agreements amounting to Rs. 17,260.0 million (USD 228.9 million) for the fiscal period ended March 31, 2020 with stated interest rate of 5.15% per annum, under RBI long-term repo operation with a three-year maturity period.

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- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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