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CASH AND CASH EQUIVALENTS | 6 Months Ended
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Sep. 30, 2023
Cash and Cash Equivalents [Abstract] |
CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS As of September 30, 2023, and March 31, 2023, cash and cash equivalents consisted of the following:
| September 30, 2023 |  | March 31, 2023
Short term deposits in National Bank (Kazakhstan) | $ | 201,718 |  |  | $ | 357,454 |
Cash in commercial banks | 94,274 |  |  | 83,755 |
Securities purchased under reverse repurchase agreements | 72,112 |  |  | 29,812 |
Petty cash in bank vault and on hand | 44,362 |  |  | 35,998 |
Short term deposits in stock exchanges | 27,119 |  |  | 31,691 |
Short term deposits on brokerage accounts | 18,999 |  |  | 37,417 |
Cash in transit | 4,013 |  |  | 3,364 |
Overnight deposits | 1,597 |  |  | 1,926 |
Allowance for Cash and cash equivalents | $ | (319) |  |  | $ | — |
Total cash and cash equivalents | $ | 463,875 |  |  | $ | 581,417 |
As of September 30, 2023, and March 31, 2023, cash and cash equivalents were not insured. As of September 30, 2023, and March 31, 2023, the cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements on the terms presented below:
| September 30, 2023
| Interest rates and remaining contractual maturity of the agreements
| Average interest rate |  | Up to 30 days |  | 30-90 days |  | Total
Securities purchased under reverse repurchase agreements |  |  |  |  |  |  |
Corporate equity | 17.35 | % |  | $ | 42,403 |  |  | $ | — |  |  | $ | 42,403 |
US sovereign debt | 4.52 | % |  | 21,963 |  |  | — |  |  | 21,963 |
Corporate debt | 2.50 | % |  | 7,210 |  |  | — |  |  | 7,210 |
Non-US sovereign debt | 15.50 | % |  | 536 |  |  | — |  |  | 536 |
Total |  |  | $ | 72,112 |  |  | $ | — |  |  | $ | 72,112 |
| March 31, 2023
| Interest rates and remaining contractual maturity of the agreements
| Average interest rate |  | Up to 30 days |  | 30-90 days |  | Total
Securities purchased under reverse repurchase agreements |  |  |  |  |  |  |
US sovereign debt | 2.06 | % |  | $ | 17,102 |  |  | $ | — |  |  | $ | 17,102 |
Corporate equity | 17.17 | % |  | 6,963 |  |  | — |  |  | 6,963 |
Non-US sovereign debt | 6.12 | % |  | 3,483 |  |  | — |  |  | 3,483 |
Corporate debt | 2.52 | % |  | 2,079 |  |  | 185 |  |  | 2,264 |
Total |  |  | $ | 29,627 |  |  | $ | 185 |  |  | $ | 29,812 |
The securities received by the Group as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Group under reverse repurchase agreements as of September 30, 2023, and March 31, 2023, was $72,160 and $31,165, respectively. As of September 30, 2023 and March 31, 2023, securities purchased under reverse repurchase agreements included accrued interest in the amount of $38 and $11, with a weighted average maturity of 5 days and 9 days, respectively. All securities repurchase agreements transactions were executed through the Kazakhstan Stock Exchange.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 + Details
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