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Loans | 12 Months Ended
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Mar. 31, 2022
Loans | 9. Loans Loan balances included Rs. 406,381.7 million and Rs. 372,013.8 million (US$ 4,903.3 million) as of March 31, 2021 and March 31, 2022, respectively, which have been provided as collateral for borrowings and are therefore restricted. Loans by facility as of March 31, 2021 and March 31, 2022 were as follows:
|  | As of March 31, |
|  | 2021 |  |  | 2022 |  |  | 2022 |
|  | (In millions) |
Retail loans: |  |  |  |  |  |  |  |  |  |  |  |
Auto loans |  | Rs. | 964,053.2 |  |  | Rs. | 1,042,793.0 |  |  | US$ | 13,744.5 |
Personal loans/Credit cards |  |  | 2,042,727.2 |  |  |  | 2,341,971.8 |  |  |  | 30,868.2 |
Retail business banking |  |  | 2,007,845.9 |  |  |  | 2,617,087.1 |  |  |  | 34,494.4 |
Commercial vehicle and construction equipment finance |  |  | 805,329.8 |  |  |  | 951,066.0 |  |  |  | 12,535.5 |
Housing loans |  |  | 702,235.5 |  |  |  | 830,882.4 |  |  |  | 10,951.4 |
Other retail loans |  |  | 1,306,641.0 |  |  |  | 1,526,734.4 |  |  |  | 20,122.9 |
Subtotal |  | Rs. | 7,828,832.6 |  |  | Rs. | 9,310,534.7 |  |  | US$ | 122,716.9 |
Wholesale loans |  | Rs. | 4,214,885.3 |  |  | Rs. | 5,099,009.3 |  |  | US$ | 67,207.2 |
Gross loans |  |  | 12,043,717.9 |  |  |  | 14,409,544.0 |  |  |  | 189,924.1 |
Less: Allowance for credit losses |  |  | 343,528.7 |  |  |  | 372,671.8 |  |  |  | 4,911.9 |
Total |  | Rs. | 11,700,189.2 |  |  | Rs. | 14,036,872.2 |  |  | US$ | 185,012.2 |
Loans, other than crop-related agricultural loans, are generally placed on non-accrual status and considered non-performing if principal or interest payments become 90 days past due and/or management deems the collectability of the principal and/or interest to be doubtful. Crop-related agricultural loans are generally placed on non-accrual status and considered non-performing if principal or interest payments become 366 days past due and/or management deems the collectability of the principal and/or interest to be doubtful. Loans are returned to accrual status when the principal and interest amounts contractually due are brought current . The maturity of gross loans as of March 31, 2022 is set out below:
|  | As of March 31, 2022 |
|  | Wholesale loans |  |  | Retail loans |  |  | Total |
|  | (In millions) |
Maturity profile of loans: |  |  |  |  |  |  |  |  |  |  |  |
Within one year |  | Rs. | 2,174,459.2 |  |  | Rs. | 2,525,390.8 |  |  | Rs. | 4,699,850.0 |
Over one year through five years |  |  | 1,844,496.2 |  |  |  | 6,006,016.1 |  |  |  | 7,850,512.3 |
Over five years |  |  | 1,080,053.9 |  |  |  | 779,127.8 |  |  |  | 1,859,181.7 |
Total |  | Rs. | 5,099,009.3 |  |  | Rs. | 9,310,534.7 |  |  | Rs. | 14,409,544.0 |
Total |  | US$ | 67,207.2 |  |  | US$ | 122,716.9 |  |  | US$ | 189,924.1 |
The following table provides details of age analysis of loans and finance receivable on non-accrual status as of March 31, 2021 and March 31, 2022.
|  | As of March 31, 2021 |
|  | 31-90 days past due |  |  | Non-accrual/ 91 days or more past due |  |  | Current 1,2 |  |  | Total |  |  | Finance receivable on non-accrual status |
|  | (In millions) |
Retail Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Auto loans |  | Rs. | 8,523.6 |  |  | Rs. | 28,476.3 |  |  | Rs. | 927,053.3 |  |  | Rs. | 964,053.2 |  |  | Rs. | 28,476.3 |
Personal loans/Credit card |  |  | 25,026.7 |  |  |  | 37,026.1 |  |  |  | 1,980,674.4 |  |  |  | 2,042,727.2 |  |  |  | 37,026.1 |
Retail business banking |  |  | 19,239.0 |  |  |  | 31,328.9 |  |  |  | 1,957,278.0 |  |  |  | 2,007,845.9 |  |  |  | 31,328.9 |
Commercial vehicle and construction equipment finance |  |  | 16,946.0 |  |  |  | 32,015.3 |  |  |  | 756,368.5 |  |  |  | 805,329.8 |  |  |  | 32,015.3 |
Housing loans |  |  | 4,530.8 |  |  |  | 5,171.9 |  |  |  | 692,532.8 |  |  |  | 702,235.5 |  |  |  | 5,171.9 |
Other retail |  |  | 18,535.0 |  |  |  | 39,584.4 |  |  |  | 1,248,521.6 |  |  |  | 1,306,641.0 |  |  |  | 39,584.4 |
Wholesale loans |  |  | 6,277.0 |  |  |  | 40,179.5 |  |  |  | 4,168,428.8 |  |  |  | 4,214,885.3 |  |  |  | 40,179.5 |
Total |  | Rs. | 99,078.1 |  |  | Rs. | 213,782.4 |  |  | Rs. | 11,730,857.4 |  |  | Rs. | 12,043,717.9 |  |  | Rs. | 213,782.4 |
1.  Loans up to 30 days past due are considered current . 2.  Includes crop-related agricultural loans with days past due less than 366 as they are not considered as non-performing of Rs. 33.6 billion.
|  | As of March 31, 2022 |
|  | 31-90 days past due |  |  | Non-accrual/ 91 days or more past due |  |  | Current 1,2 |  |  | Total |  |  | Finance receivable on non-accrual status |
|  | (In millions) |
Retail Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Auto loans |  | Rs. | 6,536.5 |  |  | Rs. | 20,441.6 |  |  | Rs. | 1,015,814.9 |  |  | Rs. | 1,042,793.0 |  |  | Rs. | 20,441.6 |
Personal loans/Credit card |  |  | 27,433.8 |  |  |  | 28,057.5 |  |  |  | 2,286,480.5 |  |  |  | 2,341,971.8 |  |  |  | 28,057.5 |
Retail business banking |  |  | 18,242.9 |  |  |  | 35,820.2 |  |  |  | 2,563,024.0 |  |  |  | 2,617,087.1 |  |  |  | 35,820.2 |
Commercial vehicle and construction equipment finance |  |  | 20,263.0 |  |  |  | 25,091.5 |  |  |  | 905,711.5 |  |  |  | 951,066.0 |  |  |  | 25,091.5 |
Housing loans |  |  | 3,296.3 |  |  |  | 6,478.4 |  |  |  | 821,107.7 |  |  |  | 830,882.4 |  |  |  | 6,478.4 |
Other retail |  |  | 18,009.8 |  |  |  | 49,459.2 |  |  |  | 1,459,265.4 |  |  |  | 1,526,734.4 |  |  |  | 49,459.2 |
Wholesale loans |  |  | 8,455.4 |  |  |  | 31,921.1 |  |  |  | 5,058,632.8 |  |  |  | 5,099,009.3 |  |  |  | 31,921.1 |
Total |  | Rs. | 102,237.7 |  |  | Rs. | 197,269.5 |  |  | Rs. | 14,110,036.8 |  |  | Rs. | 14,409,544.0 |  |  | Rs. | 197,269.5 |
Total |  | US$ | 1,347.5 |  |  | US$ | 2,600.1 |  |  | US$ | 185,976.5 |  |  | US$ | 189,924.1 |  |  | US$ | 2,600.1 |
1. | Loans up to 30 days past due are considered current .
2. | Includes crop-related agricultural loans with days past due less than 366 as they are not considered as non-performing of Rs. 34.2 billion.
From fiscal year 2020 the Bank has implemented the packages announced by RBI on account of the COVID-19 pandemic which grants temporary extensions in repayment obligations to the borrowers without any interest or financial concessions. While the moratorium allowed customers (from March to August 2020) to temporarily freeze loan repayments, the loan restructuring packages eased the burden of monthly repayments. The total balance outstanding of loan facilities restructured was Rs. 138.4 billion as of March 31, 2021 and Rs. 229.8 billion (US$ 3.0 billion) as of March 31, 2022. These restructured facilities as of March 31, 2021 included retail loans and wholesale loans of Rs. 137.8 billion and Rs. 0.6 billion respectively and as of March 31, 2022 include retail loans and wholesale loans of Rs. 220.0 billion and Rs. 9.8 billion respectively. As stipulated by regulatory guidance, the Bank does not place loans with deferrals granted due to COVID-19 on nonaccrual status where such loans are not otherwise reportable as nonaccrual and thus considered in the allowance for loan losses. For retail loans the policy and approval processes are designed for the fact that the Bank has high volumes of relatively homogeneous, small value transactions in retail loans. There are product programs for each of these products, which define the target markets, credit philosophy and process, detailed underwriting criteria for evaluating individual credits, exception reporting systems and individual loan exposure caps. The quantitative parameters considered include income, residence stability and the nature of the employment/business, while the qualitative parameters include accessibility, contractibility and profile. The credit policies/product programs are based on a statistical analysis of the Bank’s experience and industry data, in combination with the judgment of the Bank’s senior officers. The Bank regularly mines data on its borrower account behavior as well as static data to monitor the portfolio performance of each product segment and uses these as inputs for revising the Bank’s product programs, target market definitions and credit assessment criteria to meet the Bank’s twin objectives of combining volume growth and maintenance of asset quality. As an integral part of the credit process, the Bank has a credit rating model appropriate to its wholesale and retail credit segments. The Bank monitors credit quality within its segments based on primary credit quality indicators. This internal grading is updated at least annually. Disbursals under one-time restructurings are also included. The amount of purchased financing receivables outstanding as of March 31, 2021 and March 31, 2022 was Rs. 710,194.7 million and Rs. 836,172.8 million, respectively. The following table provides information on primary credit quality indicators as at March 31, 2021:
Credit quality indicators-Internally assigned grade |  | Prior |  |  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | Revolving Loans |  |  | Revolving loans converted to term loans |  |  | Total |
|  | (In millions) |
Auto loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 4,599.0 |  |  | Rs. | 30,174.9 |  |  | Rs. | 99,159.5 |  |  | Rs. | 168,159.1 |  |  | Rs. | 266,277.0 |  |  | Rs. | 362,747.1 |  |  | Rs. | 4,460.3 |  |  | Rs. | — |  |  | Rs. | 935,576.9 |
Non-performing |  |  | 736.9 |  |  |  | 2,066.2 |  |  |  | 6,048.0 |  |  |  | 9,260.9 |  |  |  | 8,513.0 |  |  |  | 1,033.0 |  |  |  | 818.3 |  |  |  | — |  |  |  | 28,476.3 |
Subtotal |  | Rs. | 5,335.9 |  |  | Rs. | 32,241.1 |  |  | Rs. | 105,207.5 |  |  | Rs. | 177,420.0 |  |  | Rs. | 274,790.0 |  |  | Rs. | 363,780.1 |  |  | Rs. | 5,278.6 |  |  | Rs. | — |  |  | Rs. | 964,053.2 |
Personal loans/Credit card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 613.8 |  |  | Rs. | 8,617.1 |  |  | Rs. | 48,658.4 |  |  | Rs. | 178,532.3 |  |  | Rs. | 483,925.8 |  |  | Rs. | 638,007.4 |  |  | Rs. | 326,118.9 |  |  | Rs. | 321,227.4 |  |  | Rs. | 2,005,701.1 |
Non-performing |  |  | 118.6 |  |  |  | 601.7 |  |  |  | 3,144.1 |  |  |  | 8,704.2 |  |  |  | 11,381.7 |  |  |  | 1,162.5 |  |  |  | 8,259.7 |  |  |  | 3,653.6 |  |  |  | 37,026.1 |
Subtotal |  | Rs. | 732.4 |  |  | Rs. | 9,218.8 |  |  | Rs. | 51,802.5 |  |  | Rs. | 187,236.5 |  |  | Rs. | 495,307.5 |  |  | Rs. | 639,169.9 |  |  | Rs. | 334,378.6 |  |  | Rs. | 324,881.0 |  |  | Rs. | 2,042,727.2 |
Retail business banking |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 35,189.0 |  |  | Rs. | 49,573.1 |  |  | Rs. | 121,663.7 |  |  | Rs. | 145,473.9 |  |  | Rs. | 209,578.9 |  |  | Rs. | 480,518.2 |  |  | Rs. | 934,520.2 |  |  | Rs. | — |  |  | Rs. | 1,976,517.0 |
Non-performing |  |  | 3,584.6 |  |  |  | 2,717.7 |  |  |  | 4,863.1 |  |  |  | 3,865.9 |  |  |  | 1,883.4 |  |  |  | 1,053.4 |  |  |  | 13,360.8 |  |  |  | — |  |  |  | 31,328.9 |
Subtotal |  | Rs. | 38,773.6 |  |  | Rs. | 52,290.8 |  |  | Rs. | 126,526.8 |  |  | Rs. | 149,339.8 |  |  | Rs. | 211,462.3 |  |  | Rs. | 481,571.6 |  |  | Rs. | 947,881.0 |  |  | Rs. | — |  |  | Rs. | 2,007,845.9 |
Commercial vehicle and construction equipment finance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 517.8 |  |  | Rs. | 6,292.2 |  |  | Rs. | 44,766.4 |  |  | Rs. | 146,432.4 |  |  | Rs. | 214,342.4 |  |  | Rs. | 287,953.1 |  |  | Rs. | 73,010.2 |  |  | Rs. | — |  |  | Rs. | 773,314.5 |
Non-performing |  |  | 155.9 |  |  |  | 836.6 |  |  |  | 4,397.4 |  |  |  | 11,112.3 |  |  |  | 10,159.4 |  |  |  | 1,086.1 |  |  |  | 4,267.6 |  |  |  | — |  |  |  | 32,015.3 |
Subtotal |  | Rs. | 673.7 |  |  | Rs. | 7,128.8 |  |  | Rs. | 49,163.8 |  |  | Rs. | 157,544.7 |  |  | Rs. | 224,501.8 |  |  | Rs. | 289,039.2 |  |  | Rs. | 77,277.8 |  |  | Rs. | — |  |  | Rs. | 805,329.8 |
Housing loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 272,061.4 |  |  | Rs. | 111,758.9 |  |  | Rs. | 105,069.4 |  |  | Rs. | 152,564.7 |  |  | Rs. | 55,570.3 |  |  | Rs. | 38.9 |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | 697,063.6 |
Non-performing |  |  | 2,407.3 |  |  |  | 1,082.6 |  |  |  | 744.5 |  |  |  | 865.9 |  |  |  | 71.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,171.9 |
Subtotal |  | Rs. | 274,468.7 |  |  | Rs. | 112,841.5 |  |  | Rs. | 105,813.9 |  |  | Rs. | 153,430.6 |  |  | Rs. | 55,641.9 |  |  | Rs. | 38.9 |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | 702,235.5 |
Other retail loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 2,406.7 |  |  | Rs. | 8,530.0 |  |  | Rs. | 20,090.5 |  |  | Rs. | 45,854.0 |  |  | Rs. | 129,946.8 |  |  | Rs. | 483,241.9 |  |  | Rs. | 576,986.7 |  |  | Rs. | — |  |  | Rs. | 1,267,056.6 |
Non-performing |  |  | 2,626.0 |  |  |  | 1,214.6 |  |  |  | 2,082.0 |  |  |  | 4,710.1 |  |  |  | 7,442.1 |  |  |  | 1,534.0 |  |  |  | 19,975.6 |  |  |  | — |  |  |  | 39,584.4 |
Subtotal |  | Rs. | 5,032.7 |  |  | Rs | 9,744.6 |  |  | Rs. | 22,172.5 |  |  | Rs. | 50,564.1 |  |  | Rs. | 137,388.9 |  |  | Rs. | 484,775.9 |  |  | Rs. | 596,962.3 |  |  | Rs. | — |  |  | Rs. | 1,306,641.0 |
Total |  | Rs. | 325,017.0 |  |  | Rs. | 223,465.6 |  |  | Rs. | 460,687.0 |  |  | Rs. | 875,535.7 |  |  | Rs. | 1,399,092.4 |  |  | Rs. | 2,258,375.6 |  |  | Rs. | 1,961,778.3 |  |  | Rs. | 324,881.0 |  |  | Rs. | 7,828,832.6 |
The following table provides information on primary credit quality indicators as at March 31, 2022:
Credit quality indicators-Internally assigned grade |  | Prior |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | Revolving loans |  |  | Revolving loans converted to term loans |  |  | Total |
|  | (In millions) |
Auto loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 8,466.2 |  |  | Rs. | 42,634.8 |  |  | Rs. | 89,161.9 |  |  | Rs. | 169,606.1 |  |  | Rs. | 252,295.7 |  |  | Rs. | 455,114.6 |  |  | Rs. | 5,072.1 |  |  | Rs. | — |  |  | Rs. | 1,022,351.4 |
Non-performing |  |  | 846.1 |  |  |  | 2,866.6 |  |  |  | 5,455.2 |  |  |  | 6,323.4 |  |  |  | 2,973.5 |  |  |  | 661.7 |  |  |  | 1,315.1 |  |  |  | — |  |  |  | 20,441.6 |
Subtotal |  | Rs. | 9,312.3 |  |  | Rs. | 45,501.4 |  |  | Rs. | 94,617.1 |  |  | Rs. | 175,929.5 |  |  | Rs. | 255,269.2 |  |  | Rs. | 455,776.3 |  |  | Rs. | 6,387.2 |  |  | Rs. | — |  |  | Rs. | 1,042,793.0 |
Personal loans/Credit card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 1,374.4 |  |  | Rs. | 14,320.8 |  |  | Rs. | 67,477.1 |  |  | Rs. | 225,561.4 |  |  | Rs. | 336,526.1 |  |  | Rs. | 947,277.0 |  |  | Rs. | 381,900.4 |  |  | Rs. | 339,477.1 |  |  | Rs. | 2,313,914.3 |
Non-performing |  |  | 201.7 |  |  |  | 910.2 |  |  |  | 4,184.4 |  |  |  | 7,967.1 |  |  |  | 3,931.7 |  |  |  | 1,722.7 |  |  |  | 6,405.6 |  |  |  | 2,734.1 |  |  |  | 28,057.5 |
Subtotal |  | Rs. | 1,576.1 |  |  | Rs. | 15,231.0 |  |  | Rs. | 71,661.5 |  |  | Rs. | 233,528.5 |  |  | Rs. | 340,457.8 |  |  | Rs. | 948,999.7 |  |  | Rs. | 388,306.0 |  |  | Rs. | 342,211.2 |  |  | Rs. | 2,341,971.8 |
Retail business banking |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 52,347.2 |  |  | Rs. | 78,959.8 |  |  | Rs. | 97,361.4 |  |  | Rs. | 151,964.0 |  |  | Rs. | 306,673.0 |  |  | Rs. | 569,687.0 |  |  | Rs. | 1,324,274.5 |  |  | Rs. | — |  |  | Rs. | 2,581,266.9 |
Non-performing |  |  | 3,661.9 |  |  |  | 3,736.0 |  |  |  | 3,429.5 |  |  |  | 2,598.7 |  |  |  | 2,880.8 |  |  |  | 412.2 |  |  |  | 19,101.1 |  |  |  | — |  |  |  | 35,820.2 |
Subtotal |  | Rs. | 56,009.1 |  |  | Rs. | 82,695.8 |  |  | Rs. | 100,790.9 |  |  | Rs. | 154,562.7 |  |  | Rs. | 309,553.8 |  |  | Rs. | 570,099.2 |  |  | Rs. | 1,343,375.6 |  |  | Rs. | — |  |  | Rs. | 2,617,087.1 |
Commercial vehicle and construction equipment finance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 1,837.4 |  |  | Rs. | 16,022.5 |  |  | Rs. | 69,418.2 |  |  | Rs. | 125,223.1 |  |  | Rs. | 185,561.0 |  |  | Rs. | 426,434.1 |  |  | Rs. | 101,478.2 |  |  | Rs. | — |  |  | Rs. | 925,974.5 |
Non-performing |  |  | 210.8 |  |  |  | 1,391.5 |  |  |  | 6,224.5 |  |  |  | 8,010.6 |  |  |  | 3,883.8 |  |  |  | 651.3 |  |  |  | 4,719.0 |  |  |  | — |  |  |  | 25,091.5 |
Subtotal |  | Rs. | 2,048.2 |  |  | Rs. | 17,414.0 |  |  | Rs. | 75,642.7 |  |  | Rs. | 133,233.7 |  |  | Rs. | 189,444.8 |  |  | Rs. | 427,085.4 |  |  | Rs. | 106,197.2 |  |  | Rs. | — |  |  | Rs. | 951,066.0 |
Housing loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 301,103.3 |  |  | Rs. | 85,682.1 |  |  | Rs. | 127,339.2 |  |  | Rs. | 46,798.3 |  |  | Rs. | 0.6 |  |  | Rs. | 263,480.5 |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | 824,404.0 |
Non-performing |  |  | 1,597.6 |  |  |  | 504.1 |  |  |  | 1,472.2 |  |  |  | 2,193.9 |  |  |  | 512.8 |  |  |  | 197.8 |  |  |  | — |  |  |  | — |  |  |  | 6,478.4 |
Subtotal |  | Rs. | 302,700.9 |  |  | Rs. | 86,186.2 |  |  | Rs. | 128,811.4 |  |  | Rs. | 48,992.2 |  |  | Rs. | 513.4 |  |  | Rs. | 263,678.3 |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | 830,882.4 |
Other retail loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | Rs. | 4,260.4 |  |  | Rs. | 11,266.3 |  |  | Rs. | 20,843.1 |  |  | Rs. | 51,074.6 |  |  | Rs. | 131,647.7 |  |  | Rs. | 567,032.4 |  |  | Rs. | 691,150.7 |  |  | Rs. | — |  |  | Rs. | 1,477,275.2 |
Non-performing |  |  | 2,989.1 |  |  |  | 1,434.6 |  |  |  | 4,470.0 |  |  |  | 10,682.7 |  |  |  | 3,645.0 |  |  |  | 1,004.1 |  |  |  | 25,233.7 |  |  |  | — |  |  |  | 49,459.2 |
Subtotal |  | Rs. | 7,249.5 |  |  | Rs | 12,700.9 |  |  | Rs. | 25,313.1 |  |  | Rs. | 61,757.3 |  |  | Rs. | 135,292.7 |  |  | Rs. | 568,036.5 |  |  | Rs. | 716,384.4 |  |  | Rs. | — |  |  | Rs. | 1,526,734.4 |
Total |  | Rs. | 378,896.1 |  |  | Rs. | 259,729.3 |  |  | Rs. | 496,836.7 |  |  | Rs. | 808,003.9 |  |  | Rs. | 1,230,531.7 |  |  | Rs. | 3,233,675.4 |  |  | Rs. | 2,560,650.4 |  |  | Rs. | 342,211.2 |  |  | Rs. | 9,310,534.7 |
Total |  | US$ | 4,994.0 |  |  | US$ | 3,423.3 |  |  | US$ | 6,548.5 |  |  | US$ | 10,649.8 |  |  | US$ | 16,218.9 |  |  | US$ | 42,621.3 |  |  | US$ | 33,750.5 |  |  | US$ | 4,510.5 |  |  | US$ | 122,716.9 |
Wholesale Loans The Bank has a process in place of grading each borrower according to its financial health and the performance of its business and each borrower is graded as pass/labeled/non-performing. Wholesale loans that are not non-performing are disclosed as pass or labeled and considered to be performing. Labeled loans are those with evidence of weakness where such exposures indicate deteriorating trends which if not corrected could adversely impact repayment of the obligations. The Bank’s model assesses the overall risk over four major categories: industry risk, business risk, management risk and financial risk. The inputs in each of the categories are combined to provide an aggregate numerical rating, which is a function of the aggregate weighted scores based on the assessment under each of these four risk categories. The following table provides information on primary credit quality indicators as at March 31, 2021.
Credit quality indicators-Internally assigned grade |  | Prior |  |  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | Revolving Loans |  |  | Total |
|  | (In millions) |
Wholesale loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | Rs. | 3,939.4 |  |  | Rs. | 3,332.3 |  |  | Rs. | 298,631.5 |  |  | Rs. | 324,816.0 |  |  | Rs. | 568,907.1 |  |  | Rs. | 2,007,206.0 |  |  | Rs. | 930,417.0 |  |  | Rs. | 4,137,249.3 |
Labeled |  |  | — |  |  |  | — |  |  |  | 7,503.2 |  |  |  | 10,194.9 |  |  |  | 2,427.6 |  |  |  | 4,073.6 |  |  |  | 13,257.2 |  |  |  | 37,456.5 |
Non-performing |  |  | 445.8 |  |  |  | 84.3 |  |  |  | 10,893.1 |  |  |  | 4,778.7 |  |  |  | 1,445.3 |  |  |  | 2,255.7 |  |  |  | 20,276.6 |  |  |  | 40,179.5 |
Total |  | Rs. | 4,385.2 |  |  | Rs. | 3,416.6 |  |  | Rs. | 317,027.8 |  |  | Rs. | 339,789.6 |  |  | Rs. | 572,780.0 |  |  | Rs. | 2,013,535.3 |  |  | Rs. | 963,950.8 |  |  | Rs. | 4,214,885.3 |
Non-performing loans by industry as of March 31, 2021 and March 31, 2022 are as follows:
|  | As of March 31, 2021 |
|  | (In millions) |
Gross non-performing loans by industry: |  |  |  |
—Consumer Loans |  | Rs. | 47,028.8 |
—Agri Production—Food |  |  | 21,028.5 |
—Road Transportation |  |  | 18,344.8 |
—Retail Trade |  |  | 17,242.9 |
—Agri Allied |  |  | 10,829.6 |
—Others (none greater than 5% of non-performing loans) |  |  | 99,307.8 |
Total |  | Rs. | 213,782.4 |
|  | As of March 31, 2022 |
|  | (In millions) |
Gross non-performing loans by industry: |  |  |  |  |  |  |  |
—Consumer Loans |  | Rs. | 35,554.7 |  |  | US$ | 468.6 |
—Agri Production—Food |  |  | 23,569.7 |  |  |  | 310.7 |
—Retail Trade |  |  | 15,124.1 |  |  |  | 199.3 |
—Agri Allied |  |  | 13,255.0 |  |  |  | 174.7 |
—Road Transportation |  |  | 12,961.6 |  |  |  | 170.8 |
—Consumer services |  |  | 10,352.3 |  |  |  | 136.4 |
—Others (none greater than 5% of non-performing loans) |  |  | 86,452.1 |  |  |  | 1,139.6 |
Total |  | Rs. | 197,269.5 |  |  | US$ | 2,600.1 |
Summary information relating to non-performing loans during the fiscal years ended March 31, 2020, March 31, 2021 and March 31, 2022 is as follows:
|  | Fiscal year ended March 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2022 |
|  | (In millions) |
Average impaired loans |  | Rs. | 148,924.7 |  |  | Rs. | 185,604.7 |  |  | Rs. | 205,526.0 |  |  | US$ | 2,708.9 |
Interest income recognized on non-performing loans |  | Rs. | 10,160.5 |  |  | Rs. | 7,025.3 |  |  | Rs. | 11,881.0 |  |  | US$ | 156.6 |
The Bank adopted on April 1, 2021 ASU 2016-13 “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” effective April 1, 2020 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for reporting periods beginning after April 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The adoption of ASC 326 had an impact of Rs. 83,496.4 million that was offset by a corresponding decrease in retained earnings of Rs. 62,480.4 million and Rs. 21,016.0 million increase in deferred tax assets. The increase in the allowance for credit losses required under the ASC 326 generally reflected the impact of reserves calculated over the life of loan, and more specifically higher reserves required for longer duration loan portfolios, and the utilization of a longer historical look-back period in the calculation of probability of default. The following table illustrates the impact on allowances for credit losses on adopting ASC 326.
|  | As of April 1, 2020 |
|  | As reported under ASC 326 |  |  | Pre-ASC 326 adoption |  |  | Impact of ASC 326 adoption |
|  | (In millions) |
Loans: |  |  |  |  |  |  |  |  |  |  |  |
Auto loans |  |  | Rs.29,099.9 |  |  |  | Rs.19,219.0 |  |  |  | Rs.9,880.9 |
Personal loans/Credit cards |  |  | 85,188.2 |  |  |  | 47,097.1 |  |  |  | 38,091.1 |
Retail business banking |  |  | 36,807.8 |  |  |  | 32,860.3 |  |  |  | 3,947.5 |
Commercial vehicle and construction equipment finance |  |  | 20,788.9 |  |  |  | 20,463.4 |  |  |  | 325.5 |
Housing loans |  |  | 3,360.2 |  |  |  | 1,700.7 |  |  |  | 1,659.5 |
Other retail loans |  |  | 38,098.6 |  |  |  | 37,864.3 |  |  |  | 234.3 |
Wholesale loans |  |  | 66,502.6 |  |  |  | 39,628.4 |  |  |  | 26,874.2 |
Allowance for Credit Losses on Loans |  |  | Rs.279,846.2 |  |  |  | Rs.198,833.2 |  |  |  | Rs.81,013.0 |
Allowance for Credit Losses on AFS debt securities |  |  | — |  |  |  | — |  |  |  | — |
Accrued expenses and other liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures and undrawn commitments |  |  | Rs.5,523.4 |  |  |  | Rs.3,226.8 |  |  |  | Rs.2,296.6 |
Allowance for Credit Losses Other |  |  | 186.8 |  |  |  | — |  |  |  | 186.8 |
Total |  |  | Rs. 285,556.4 |  |  |  | Rs. 202,060.0 |  |  |  | Rs. 83,496.4 |
Allowance for credit losses as of March 31, 2020 were as follows:
|  | Auto loans |  |  | Personal loans/ Credit card |  |  | Retail business banking |  |  | Commercial vehicle and Construction equipment finance |  |  | Housing loans |  |  | Other retail |  |  | Wholesale |  |  | Retail |  |  | Wholesale |  |  | Total |
|  | (In millions) |
Allowance for credit losses, beginning of the period |  | Rs. | 6,169.0 |  |  | Rs. | 9,694.0 |  |  | Rs. | 21,595.3 |  |  | Rs. | 6,544.8 |  |  | Rs. | 1,105.2 |  |  | Rs. | 20,441.5 |  |  | Rs. | 20,233.2 |  |  | Rs. | 52,941.1 |  |  | Rs. | 9,507.9 |  |  | Rs. | 148,232.0 |
Write-offs |  |  | (11,524.3 | ) |  |  | (41,646.3 | ) |  |  | (9,379.0 | ) |  |  | (10,838.5 | ) |  |  | (130.3 | ) |  |  | (12,833.1 | ) |  |  | (6,328.1 | ) |  |  | — |  |  |  | — |  |  |  | (92,679.6 | )
Net allowance for credit losses* |  |  | 13,169.8 |  |  |  | 40,487.4 |  |  |  | 9,471.1 |  |  |  | 15,901.0 |  |  |  | 439.8 |  |  |  | 16,508.1 |  |  |  | 12,521.3 |  |  |  | 31,088.3 |  |  |  | 3,694.0 |  |  |  | 143,280.8 |
Allowance for credit losses, end of the period |  | Rs. | 7,814.5 |  |  | Rs. | 8,535.1 |  |  | Rs. | 21,687.4 |  |  | Rs. | 11,607.3 |  |  | Rs. | 1,414.7 |  |  | Rs. | 24,116.5 |  |  | Rs. | 26,426.4 |  |  | Rs. | 84,029.4 |  |  | Rs. | 13,201.9 |  |  | Rs. | 198,833.2 |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance individually evaluated for impairment |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | 26,426.4 |  |  | Rs. | — |  |  | Rs. | — |  |  | Rs. | 26,426.4 |
Allowance collectively evaluated for impairment |  |  | 7,814.5 |  |  |  | 8,535.1 |  |  |  | 21,687.4 |  |  |  | 11,607.3 |  |  |  | 1,414.7 |  |  |  | 24,116.5 |  |  |  | — |  |  |  | 84,029.4 |  |  |  | 13,201.9 |  |  |  | 172,406.8 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,423.4 |  |  |  | — |  |  |  | — |  |  |  | 35,423.4 |
Loans collectively evaluated for impairment |  |  | 15,279.2 |  |  |  | 14,481.7 |  |  |  | 32,866.3 |  |  |  | 22,992.2 |  |  |  | 2,921.3 |  |  |  | 33,462.8 |  |  |  | — |  |  |  | 6,918,796.9 |  |  |  | 3,547,631.8 |  |  |  | 10,588,432.2 |
* | Net allowances for credit losses charged to expense does not include the recoveries against write-off cases amounting to Rs . 25,658.9 million. Recoveries from retail loans are Rs. 22,548.7 million and from wholesale loans are Rs. 3,110.2 million.
Allowances for credit losses as of March 31, 2021 are as follows:
|  | Auto loans |  |  | Personal loans/ Credit card |  |  | Retail business banking |  |  | Commercial vehicle and Construction equipment finance |  |  | Housing loans |  |  | Other retail |  |  | Wholesale |  |  | Total |
|  | (In millions) |
Allowance for credit losses, beginning of the period |  | Rs. | 19,219.0 |  |  | Rs. | 47,097.1 |  |  | Rs. | 32,860.3 |  |  | Rs. | 20,463.4 |  |  | Rs. | 1,700.7 |  |  | Rs. | 37,864.3 |  |  | Rs. | 39,628.4 |  |  | Rs. | 198,833.2 |
Impact of Adopting ASC 326 |  |  | 9,880.9 |  |  |  | 38,091.1 |  |  |  | 3,947.5 |  |  |  | 325.5 |  |  |  | 1,659.5 |  |  |  | 234.3 |  |  |  | 26,874.2 |  |  |  | 81,013.0 |
Write-offs |  |  | (13,263.5 | ) |  |  | (61,571.8 | ) |  |  | (14,951.6 | ) |  |  | (15,921.5 | ) |  |  | (190.8 | ) |  |  | (9,942.8 | ) |  |  | (3,628.7 | ) |  |  | (119,470.7 | )
Net allowance for credit losses* |  |  | 23,559.7 |  |  |  | 86,464.6 |  |  |  | 20,432.2 |  |  |  | 21,489.3 |  |  |  | 1,408.6 |  |  |  | 21,073.4 |  |  |  | 8,725.4 |  |  |  | 183,153.2 |
Allowance for credit losses, end of the period |  | Rs. | 39,396.1 |  |  | Rs. | 110,081.0 |  |  | Rs. | 42,288.4 |  |  | Rs. | 26,356.7 |  |  | Rs. | 4,578.0 |  |  | Rs. | 49,229.2 |  |  | Rs. | 71,599.3 |  |  | Rs. | 343,528.7 |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated Allowance |  | Rs. | 34.7 |  |  | Rs. | 4.0 |  |  | Rs. | 3,540.7 |  |  | Rs. | 59.6 |  |  | Rs. | — |  |  | Rs. | 72.1 |  |  | Rs. | 33,222.5 |  |  | Rs. | 36,933.6 |
Collectively evaluated Allowance |  |  | 39,361.4 |  |  |  | 110,077.0 |  |  |  | 38,747.7 |  |  |  | 26,297.1 |  |  |  | 4,578.0 |  |  |  | 49,157.1 |  |  |  | 38,376.8 |  |  |  | 306,595.1 |
Loans: |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |
Individually evaluated Loans |  |  | 49.5 |  |  |  | 4.2 |  |  |  | 3,560.8 |  |  |  | 59.7 |  |  |  | — |  |  |  | 92.7 |  |  |  | 42,786.8 |  |  |  | 46,553.7 |
Collectively evaluated Loans |  |  | 964,003.7 |  |  |  | 2,042,723.0 |  |  |  | 2,004,285.1 |  |  |  | 805,270.1 |  |  |  | 702,235.5 |  |  |  | 1,306,548.3 |  |  |  | 4,172,098.5 |  |  |  | 11,997,164.2 |
* | Net allowances for credit losses charged to expense does not include the recoveries against write-off cases amounting to Rs . 28,919.8 million (US$ 395.4 million). Recoveries from retail loans is Rs. 28,605.8 million and from wholesale loans is Rs. 314.0 million.
Allowances for credit losses as of March 31, 2022 are as follows:
|  | Auto loans |  |  | Personal loans/ Credit card |  |  | Retail business banking |  |  | Commercial vehicle and Construction equipment finance |  |  | Housing loans |  |  | Other retail |  |  | Wholesale |  |  | Total |  |  | Total |
|  | (In millions) |
Allowance for credit losses, beginning of the period |  | Rs. | 39,396.1 |  |  | Rs. | 110,081.0 |  |  | Rs. | 42,288.4 |  |  | Rs. | 26,356.7 |  |  | Rs. | 4,578.0 |  |  | Rs. | 49,229.2 |  |  | Rs. | 71,599.3 |  |  | Rs. | 343,528.7 |  |  | US$ | 4,527.9 |
Write-offs |  |  | (19,376.9 | ) |  |  | (74,500.8 | ) |  |  | (3,027.7 | ) |  |  | (16,592.0 | ) |  |  | (601.6 | ) |  |  | (17,567.4 | ) |  |  | (2,351.4 | ) |  |  | (134,017.8 | ) |  |  | (1,766.5 | )
Net allowance for credit losses* |  |  | 21,750.2 |  |  |  | 75,986.2 |  |  |  | 9,794.3 |  |  |  | 21,986.2 |  |  |  | (1,284.2 | ) |  |  | 29,775.2 |  |  |  | 5,153.0 |  |  |  | 163,160.9 |  |  |  | 2,150.5 |
Allowance for credit losses, end of the period |  | Rs. | 41,769.4 |  |  | Rs. | 111,566.4 |  |  | Rs. | 49,055.0 |  |  | Rs. | 31,750.9 |  |  | Rs. | 2,692.2 |  |  | Rs. | 61,437.0 |  |  | Rs. | 74,400.9 |  |  | Rs. | 372,671.8 |  |  | US$ | 4,911.9 |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated Allowance |  | Rs. | 18.4 |  |  | Rs. | 6.5 |  |  | Rs. | 2,651.4 |  |  | Rs. | 65.8 |  |  | Rs. | — |  |  | Rs. | 92.3 |  |  | Rs. | 35,619.7 |  |  | Rs. | 38,454.1 |  |  | US$ | 506.8 |
Collectively evaluated Allowance |  |  | 41,751.0 |  |  |  | 111,559.9 |  |  |  | 46,403.6 |  |  |  | 31,685.1 |  |  |  | 2,692.2 |  |  |  | 61,344.7 |  |  |  | 38,781.2 |  |  |  | 334,217.7 |  |  |  | 4,405.1 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated Loans |  |  | 31.5 |  |  |  | 29.4 |  |  |  | 2,651.4 |  |  |  | 66.3 |  |  |  | — |  |  |  | 126.6 |  |  |  | 41,832.9 |  |  |  | 44,738.1 |  |  |  | 589.7 |
Collectively evaluated Loans |  |  | 1,042,761.5 |  |  |  | 2,341,942.4 |  |  |  | 2,614,435.7 |  |  |  | 950,999.7 |  |  |  | 830,882.4 |  |  |  | 1,526,607.8 |  |  |  | 5,057,176.4 |  |  |  | 14,364,805.9 |  |  |  | 189,334.4 |
* | Net allowances for credit losses charged to expense does not include the recoveries against write-off cases amounting to Rs . 36,181.4 million (US$ 476.9 million). Recoveries from retail loans is Rs. 35,385.3 million and from wholesale loans is Rs. 796.1 million.
The allowance for credit losses is assessed at each period end and the increase/(decrease), as the case may be is recorded in the income statement under provision for credit losses net of recoveries against write-offs. Troubled debt restructuring (TDR) When the Bank grants a concession, for economic or legal reasons related to a borrower’s financial difficulties, for other than an insignificant period of time, the related loan is classified as a TDR. Such concessions could include a reduction in the interest rate below current market rates, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Loans, for which the terms have been modified, and for which the borrower is experiencing financial difficulties, are considered TDRs. On restructuring, those loans are re-measured to reflect the impact, if any, on projected cash flows resulting from the modified terms. The impact of the TDR modifications and defaults are factored into the allowance for credit losses on a loan-by-loan basis. Modification may have little or no impact on the allowance established for the loan if there was no forgiveness of the principal and the interest was not decreased. A charge off may be recorded at the time of restructuring if a portion of the loan is deemed to be uncollectible. A TDR classification can be removed if the borrower’s financial condition improves such that the borrower is no longer in financial difficulty, the loan has not had any forgiveness of principal or interest, and the loan is subsequently refinanced or restructured at market terms and qualifies as a new loan. There was no TDR modification during the fiscal year s ended March 31, 2021 and March 31, 2022 respectively. Interest on loans by facility are as follows:
|  | Fiscal year ended March 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2022 |
|  | (In millions) |
Wholesale loans |  | Rs. | 245,504.7 |  |  | Rs. | 263,190.7 |  |  | Rs. | 250,779.5 |  |  | US$ | 3,305.4 |
Retail loans |  |  | 736,290.1 |  |  |  | 753,857.1 |  |  |  | 807,146.1 |  |  |  | 10,638.5 |
Total |  | Rs. | 981,794.8 |  |  | Rs. | 1,017,047.8 |  |  | Rs. | 1,057,925.6 |  |  | US$ | 13,943.9 |

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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