SALIENT FEATURES OF
To the State Bank of India, Reserve Bank of India and the Central Government, in terms of Section 43(1) of State Bank of India (Subsidiary Banks) Act, 1959.
1. Management Discussions And Analysis
1.1. Macro economic Scenario and Banking environment.
1.1.1. Global economic activity had strengthened in HY2 and the growth is likely to be in the vicinity of 3.5% in 2014. The expansion in global output is expected to be led by advanced economies (AEs). However, downside risks to growth trajectory arise from ongoing tapering of quantitative easing (QE) in the US, continuing deflation concerns and weak balance sheets in the Euro area and, inflationary pressures in the emerging market and developing economies (EMDEs). Weakening growth and financial fragilities in China in recent years pose a large risk to global trade and growth.
Since the Third Quarter Review of January 2014, global activity appears to have moderated on slower growth in the US, UK and Japan, restrained by the uncertain external demand environment and structural constraints. Going forward, global growth is likely to strengthen with risks tilted to the downside.
1.1.2. After the unexpected shock from the May 2013 tapering indication by the US Fed, policy action in India has rebuilt buffers to cushion it against possible spill-overs. These buffers effectively bulwarked the Indian economy against the two recent occasions of spill-overs to EMDEs the first, when the US Fed started the withdrawal of its large-scale asset purchase programme and the second, which followed escalation of the Ukraine crisis.
1.1.3. On both these occasions, Indian markets were less volatile than its peers.
The sustained FII inflows, augmented by repayments by public sector oil marketing companies of their foreign currency obligations to the Reserve Bank during March, coupled with increased export earnings have led to an increase in reserves to over USD 309 billion.
1.1.4. Domestically, the growth in the Indian economy shows signs of bottoming-out with marginal improvement recorded during Q2 and Q3 of 2013-14 to 4.8% & 4.7%, respectively. This improvement has been feeble and clear signs of recovery are yet to emerge. The real GDP growth continued to be modest in Q3 of 2013-14, with some strengthening of activity in services. Industrial activity continues to be a drag on the economy and the boost provided by robust agricultural production in 2013 may wane, as the IMD outlook for the 2014 south-west monsoon appears weak and uncertain. Since December 2013, the sharper than expected disinflation in vegetable prices has enabled a sizable fall in headline inflation. Contingent upon the desired inflation, real GDP growth is projected to a range of 5-6% in 2014-15, with downside risks of 5.5%. However, lead indicators do not point to a sustained revival in industry and services, as yet. Agricultural sector is contingent upon timely arrival of the monsoon. Easing of supply bottlenecks and improvements in investment climate should brighten growth outlook.
1.1.5. On the basis of an assessment of the current and evolving macro-economic situation, RBI has decided to:
Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0%.
Keep the cash reserve ratio (CRR) of scheduled Banks unchanged at 4% of net demand and time liability (NDTL) and
Increase the liquidity provided under 7-day and 14-day term repos from 0.5% of NDTL of the Banking system to 0.75%, and decrease the liquidity provided under overnight repos under the LAF from 0.5% of Bank-wise NDTL to 0.25% with immediate effect.
Consequently, the reverse repo rate will remain unchanged at 7.0% and MSF rate and the Bank Rate at 9.0%.
Statutory Liquidity ratio: SLR has remained unchanged at 23 per cent w. e. f. 11.08.2012.
1.2. Economy of karnataka
1.2.1. Karnataka economy is largely service-oriented, with 61% of the State revenue coming from services sector, 24% from industrial sector and balance 14% contribution coming from agricultural sector. The State is the largest producer of coffee, raw silk and sandalwood in the country and also adds considerably to the horticulture production of the country. The major manufacturing oriented industries in the state include sugar, paper, steel and cement. 1.2.2. Karnatakas state capital Bangalore is considered the Silicon Valley of India. Several IT and also Bio-tech companies have their offices in Bangalore. The city contributes over 40% of the software export earning of the country and boasts of a pool of Scientists, Engineers, Software Professionals, besides the largest number of HNIs in the country. 1.2.3. The general slowdown in the National economy has impacted the State economy also, which is expected to grow at 5% as against the original estimate of 5.9%, and reach Rs.3,11,628 crs. in 2013-14 (from Rs.2,96,658 crs in 2012-13). The slowdown in the economy, coupled with the drought situation prevailing in parts of Karnataka affected the growth in services sector, which grew by 7.2%, as against 8.9% in 2012-13. The growth in Industrial and Agricultural sector was also 1.2% and 0.6%, respectively, as against 4.4% and - 4.9% the previous year. 1.2.4. The States own tax revenues increased from Rs 25,987 crs in 2007-08 to Rs 62,464 crs during 2013-14, at a compound annual growth rate (CAGR) of 19.2%. The per capita State income at current prices is estimated at Rs.86,788 in 2012-13, an increase of 12.3%. The States plan expenditure has been growing steadily and today the State boasts of one of the highest per capita plan expenditure in the country.
1.2.5. The business growth of our Bank depends to a large extent on the Karnataka economy, since 82% of branches (772 out of 944 branches, as on 31.03.2014) are located in Karnataka. The budget size and State plan 2014-15 envisages a total expenditure of Rs 1,38,008 crs on various development activities and regulatory functions of the Government, which is an increase of 18.75% over the budget of Rs 1,16,213 crs of 2013-14. The Government has facilitated sanction of special economic status to Hyderabad-Karnatak Region under Article 371J of the Constitution, which will result in massive investment by the Govt., thereby paving the way for accelerated development in that Region. Taking a cue from their action, we have also opened our Regional Office at Gulbarga under the newly-created Belgaum Zone, to undertake branch expansion for business growth and outreach.
2. REVIEW OF BANKING OPERATIONS
2.1. Market Share and Business Growth
2.1.1. The business levels of the Bank and the position of market share in recent years are furnished hereunder:-
|31 year ended 31st March||2010||2011||2012||2013||2014|
|(Percentage of growth)||(18.7)||(11.3)||(16.1)||(14.2)||(7.7)|
|C WmoH$ O-mE (%)||27,724||29,844||35,041||42,360||50,753|
|Of which Non-Bulk Deposits (%)||(72.1)||(69.9)||(70.6)||(74.7)||(83.1)|
|Gr. In Non-Bulk Dep (%)||(27.2)||(7.7)||(17.4)||(20.9)||(19.8)|
|Deposits Market share %||0.86||0.79||0.78||0.83||0.76*|
|Percentage of growth)||(15.4)||(15.3)||(18.0)||(13.1)||(10.7)|
|Advances Market share %||0.92||0.87||0.85||0.85||0.79*|
2.1.2. The Bank has seen continuity in growth during the current year also, with aggregate deposits reaching a level of Rs 61,087 crs, a growth of Rs 4,375 crs over the previous year at a rate of 7.7%. However the growth in Non Bulk deposit at 19.8% is in tune with the past trend and in accordance with our conscious policy of shedding high cost/bulk deposits. The total advances have reached a level of Rs 50,894 crs, recording a growth of Rs 4,913 crs over the previous year at a growth rate of 10.7%. As on 21.03.2014 the Banks market share of Deposits decreased to 0.76% from 0.83% and also Banks market share of Advances decreased to 0.79% from 0.85%.
2.2 Key Performance Indicators
|Sl. No. Key Indicators||2011-12||2012-13||2013-14|
|1. Net Profit Rs . in crs)||369.15||416.10||274.25|
|2. Return on Assets (%)||0.67||0.66||0.40|
|3. Return on Equity (%)||10.82||11.05||6.84|
|4. Expenses Income Ratio (%)||49.55||46.26||53.40|
|5. Earnings per Share (in Rs .)||78.88||88.91||57.39|
|6. Gross NPA to Gross Advances (%)||3.70||4.53||5.54|
|7. Net NPA to Net Advance (%)||1.93||2.69||3.29|
|8. Cost of Deposit||7.09||7.32||7.21|
|9. Yield on Advances||11.44||11.62||10.93|
|10. - NIM||3.16||3.22||3.02|
Total Income of the Bank increased by 6%, from Rs 6,514 crs as at March, 2013 to Rs 6895 crs in March,2014. Interest Income increased from Rs 5,965 crs to Rs 6,322 crs (6%). Average Yield on Advances decreased from 11.62% in 2012-13 to 10.93% during 2013-14, while Average Yield on Investments increased from 7.30% in March 2013 to 7.37% during the same period. Non Interest Income increased by 4.4% from Rs 548 crs to Rs 572 crs with the growth in profit from sale of securities improving marginally from Rs 66.53 crs to Rs 69.36 crs. The ratio of Non-Interest Income to Total Income, therefore, stood at a lower level of 8.3% (8.4% last year). Efforts are being made to improve this ratio, in the coming years.
The Total Expenditure (before provisions and contingencies) increased by Rs 501 crs, from Rs 5,230 crs in 2012-13 to Rs 5730 crs in 2013-14. While Interest Expenses increased by Rs 271 crs (6.6%), the Operating Expenses increased by Rs 230 crs (21%) during the current year. The Average Cost of Deposits decreased from 7.32% in March, 2013 to 7.21% in March, 2014 predominantly owing to increase in CASA share from 31.4% (31.03.13) to 33.3% (31.03.14) and decrease in higher cost bulk deposits.
While the Operating Profit decreased from Rs 1,331.03 crs in 2012-13 to Rs 1164.44 crs in 2013-14 (-12.5%), the Net Profit decreased fromRs 416.10 crs to Rs 274.25 crs (-34.1%). The reduction in net profits was predominantly on account of the steep increase in provisioning on non-performing assets, wage revision & depreciation investment. While Return on Assets (ROA) decreased from 0.66% to 0.40% owing to the expansion in the credit base, besides subdued growth in net profits, Return on Equity (ROE) also decreased from 11.05 % to 6.84% during the year.
2.6. Capital adequacy ratio
The Capital Adequacy Ratio recast under Basel III guidelines as per RBI directives effective from 1st April 2013 stands at 11.08 % as at March 2014, against 11.28 %(recast under Basel III) as at March 2013. The CRAR of 11.08% consists of CET I of 8.44%, AT-I of 0.21% both forming TIER-I Capital besides 2.43% of TIER-II Capital. The CRAR under Basel II guidelines as at March 2014 stood at 11.50% as against 11.79% in the previous year.
The Capital Adequacy Ratio of the Bank has come down on account of increase in credit growth of the Bank coupled with reduced profitability on account of higher provisioning.
Keeping in mind the need to strengthen Tier I capital of the Bank in the current economic scenario and the reduced profit level, the Board of Directors has declared a dividend of 30% (Rs 3.00 per Equity share of Rs 10/-) for the year 2013-14. This involved a pay-out of Rs 16.85 crs, including the tax component. The pay-out ratio for 2013-14 works out to 5.25 %, as against 12.93 % for 2012-13.
3. BUSINESS REVIEW
3.1.1. Total Deposits of the Bank grew by Rs 4,590 crs, to reach the level of Rs 61,560 crs. Aggregate Deposits (total deposits excl. inter Bank deposits) stood at Rs 61,087 crs as at March 2014, recording a growth of Rs 4,375 crs (7.72%) during the year. The share of CASA deposits to Aggregate Deposits increased from 31.4% in March 2013 to 33.3% in March 2014.
3.1.2. Personal Segment Deposits
Personal segment deposits grew by Rs 5,351 crs, registering a growth of 19.2% to reach a level of Rs 33,161 crs as on 31st March 2014. Share of Personal segment deposits to aggregate deposits has increased from 49.0% to 54.3% during the year. The number of deposit accounts under Personal segment have increased by 10,05,983 during the year.
To further boost deposits growth under Personal segment, a new product viz "My Bank Century", a term deposit for 101 week carrying interest rate of 9.5% was introduced in a special campaign lasting one month, culminating with the conclusion of our Banks Centenary year celebrations. The Bank mobilized Rs 1,284.61 crs under this scheme.
3.2. Credit expansion
3.2.1.While the total advances of the Bank increased from Rs 45,981 crs to Rs 50,894 crs, thus registering a growth of Rs 4,886 crs ( 13.1%) during the year, Net advances (i.e. net of NPA related/floating Provisions, and outstanding under Staff Festival Advance) of the Bank increased from Rs 44,932 crs in March 2013 to Rs 49,481 crs. Credit Deposit Ratio of the Bank increased from 81.1% in March 2013 to 83.3% in March 2014.
3.2.2 Corporate network
Our Bank has formed the Corporate Network consisting of 11 large branches spread over Metro and other big centers of the country, for catering to the needs of large Corporates.
The Corporate Network of the Bank has achieved a business level of Rs 34,886.61crs, comprising Rs 8,475.34 crs of deposits & Rs 26,411.27 crs of advances, as on 31.03.2014. The Advances portion of CNW accounts for 51% of the total advance and 83% of the C&I advance of our Bank. The current sluggishness in the economy has also impacted CNWs advances portfolio. In order to improve the quality of assets, the Bank has been consciously moving its portfolio to investment grade and above [BBB or above] and the strategy has started yielding desired results.
The Network is planning to open one more branch at Mysore and upgrading Ahmedabad Branch & IFB Bellary to Corporate Network grade in FY 2014-15, besides consolidating Advances from other nearby branches, to lend more strength and quality to its portfolio. Highlights of the performance of Corporate Network in FY 2013-14 are summarized below:
The advances growth in CNW was by Rs 2,971.27 crs @ 12.67% over FY13. The growth in investment grade & above is to the extent of 88%.
Total Forex Turnover of CNW was at Rs 24,870 crs, accounting for 81% of the total Banks Forex Turnover, recording an increase of 60% over FY13.
The growth in AAA to A grade of advances [ECR] is apprx. 70%.
3.2.3. Credit Committees
Credit Committees were first established in May 2002, in order to facilitate taking decisions through committee approach to provide more professional touch to credit appraisal, by thread-bare discussion on the risk factors. Two committees have been constituted viz. HOCC-I chaired by Managing Director and HOCC-II chaired by Chief General Manager (with CGM/ GMs as members of the committee.)
The Bank has held 53 HOCC-I and 36 HOCC-II Meetings, respectively, during 2013-14, to facilitate growth in advances. Besides the above HOCCs, in order to provide speedier credit and consequent to devolution of wider powers to the Networks, 4 Network Credit Committees with Network General Managers as Chairmen were constituted and 228 meetings were held in aggregate.
3.3. Personal Segment advances
Personal segment advances registered a record growth of Rs 1,393 crs (19%) to reach a level of Rs 8,864 crs. Special campaigns were conducted between June 2013 to Sept 2013 and Oct 2013 to Jan 2014 to provide a boost to the growth in Housing loans, Car loans, Gold loans and Personal loans. Housing loans recorded a growth of Rs 702 crs (19%) to reach a level of Rs 4,398 crs. Car loans recorded a growth of Rs 137 crs (24%) to reach a level of Rs 708 crs , Gold loans recorded a growth of Rs 136 crs (55%) to reach a level of Rs 384 crs and Personal loans recorded a growth of Rs 232 crs (26%) to reach a level of Rs 1,130 crs.
3.4. Priority Sector Lending and Social Banking
3.4.1. Total credit provided to the Priority sector as on March, 2014 stood at Rs 15,457 crs (34.4% of ANBC), including
Inter Bank Participation certificate of Rs 375 crs invested in Kaveri Grameena Bank, as against Rs 13,483 crs in the previous year ended March 2013 (yoy growth 14.6%). Segment-wise status of these advances are as under:
Agriculture: The direct Agricultural advances increased by 11% from Rs 5,752 crs to Rs 6,377 crs. Total agricultural advances went up from Rs 6,325 crs (including IBP of Rs.573 crs) to Rs 7,463 crs (including IBP of Rs 375 crs), registering a growth of 18%.
Fresh Agricultural Advances sanctioned during FY14 stood at Rs 4180 crs benefitting farmers.
Agricultural Gold loan registered a growth of 48%, from Rs 885 crs to Rs 1314 crs. 55,008 Kissan Credit Cards (KCC) were issued on revised RBI guidelines, aggregating to Rs 820 crs, during FY13-14.
Micro and Small Enterprises (MSE): The Banks Advance to Micro & Small Enterprises for FY13-14 at Rs 4,524 crs as against Rs 3,756 crs for FY12-13 reflects a yoy growth of over 20%.
Personal & Services Banking (P&SB): Housing loans under priority sector reached a level of Rs 2,855 crs during the year, from a level of Rs 2,808 crs in FY13.
Education loans grew by Rs 21 crs (3.5%) over FY13 from Rs 594 crs to reach a level of Rs 615 crs as at March 14.
3.5. Agriculture finance:
The following initiatives were taken to increase the flow of credit to the Agriculture Segment.
During 2013-14, GOK declared 125 taluks as drought-hit. All branches of the Bank considered rephasement / restructuring of dues from farmers who were in distress. Additional financing in the shape of production and investment credit was also extended to such farmers.
To mark the culmination of the Centenary year, the Bank has financed for construction of 1,786 Green toilets covering 270 villages under Nirmal Bharath Abhiyan Scheme and also assisted 1,486 beneficiaries in 233 villages under
Solar Home Lighting Scheme to encourage use of Green energy.
Interest subvention amounting to Rs 18.81 crs has been provided under Agri segment to farmers for prompt repayment of loan.
In order to provide some succour from the hardship suffered by the farmers from drought and other natural calamities, Bank launched three different types of OTS schemes to settle old NPA accounts. 6,997 accounts amounting to Rs 78.97 crs were settled during the year.
3.6. Micro and Small enterprises (Manufacturing)
The Banks advances to Micro and Small Enterprises (Manufacturing) as on March 2014 is Rs 2,628 crs, as against Rs 2,312 crs as on March 2013, registering an increase of Rs 316 crs (yoy 14%) during the year.
3.7. Micro and Small enterprises (Services)
The Banks advances to Micro and Small Enterprises (Services) as on March 2014 is Rs 1,896 crs, as against Rs 1,444 crs as on March 2013, registering an increase of Rs 452 crs (yoy 31%) during the year.
During the year ended March 2014, Bank has taken various initiatives to increase flow of credit to MSE sector. Interest rates on all loan schemes were rationalized to give equal focus to each scheme under MSE segment. 14 of the existing general Banking branches were re-designated as MSE Specialized branches in compliance to the RBIs guidelines of having at least one MSE Specialized branch in each district. Uniform loan application form for MSEs for loans upto Rs 1.00 cr has been introduced, which is simple and user-friendly.
During the year ended March 2014, Bank introduced web-based Credit Proposal Tracking System (CPTS) exclusively for MSE segment, for online monitoring of loan applications received by the Bank at various levels. It has helped in ensuring timely delivery of credit to the MSE sector.
3.8. Credit Guarantee Scheme
The Bank continued to extend collateral-free financial assistance to MSE sector by participating in Credit Guarantee Scheme of CGTMSE. All loans to eligible MSE units upto Rs 1crore are being sanctioned without any collateral security by obtaining the guarantee cover from CGTMSE. Guarantee fee and Annual service fee on such cases are also borne by the Bank. As at March 2014, 11,559 accounts amounting to Rs 707 crs were covered under the Scheme.
3.9. Assistance to Weaker Sections of the Society
The Bank continued to extend financial assistance to Weaker Sections of the Society, comprising small & marginal farmers with land-holdings upto 5 acres, landless labourers, tenant farmers, village & cottage industries with individual limits not exceeding Rs 50,000, besides assistance under schematic lending to SJSRY, SGSY, SLRS, DRI, Self-Help Groups and to SC/ST beneficiaries. The outstanding amount under lending to Weaker Sections stood at Rs 6,360 crs as on March 2014, constituting 14% of ANBC, as against the stipulated benchmark of 10%.
3.10. Assistance to Women entrepreneurs
Being fully conscious of the deep positive financial and social impact of extending credit to women entrepreneurs, we continued to lay special emphasis on extending liberalized credit to MSE units being run by women entrepreneurs. The Banks total credit to women as at March 2014 stood at Rs 3,040 crs covering 1,82,540 beneficiaries, which works out to 6.8% of Adjusted Net Bank Credit, as against the stipulated benchmark of 5%. The Bank also specially honored outstanding women entrepreneurs of the Bank on the occasion of Centenary Celebrations which was presided over by Honble Union Finance Minister, in Oct 2013.
3.11. Measures to Improve the economic Conditions of SCs/Sts
In line with the national objective to extend all-out support for the development of SCs/STs, we, as a responsible corporate citizen, are ensuring that adequate credit is available to SCs/STs, in their role of self-employed entrepreneurs. Credit is extended to this section in tie-up with the State-level development corporations dedicated to SCs/STs. The Banks assistance to the SCs/STs under various schemes as at March 2014 stood at Rs 593 crs covering 92,271 beneficiaries, which forms 3.8% of Priority Sector Advances.
3.12. Finance to Minority Communities
With the objective of promoting economic activities amongst the notified minorities, Bank has been whole-heartedly participating in this national task for promoting self-employment activities amongst the eligible beneficiaries belonging to the minority communities.
The Banks assistance to the notified minorities under various schemes as at March 2014 stood at Rs 2,137 crs covering 48,872 beneficiaries, which forms 14.2% of Priority Sector Advances.
3.13. Government Sponsored Schemes
The position of assistance rendered under various Government sponsored schemes by our Bank as at March 2014 is as detailed below:-
3.13.1. Prime Ministers employment Generation Programme (PMeGP)
The Government of India has launched the new scheme "Prime Ministers Employment Generation Programme (PMEGP)" to empower first generation entrepreneurs to set up micro enterprises across the country, by subsuming the earlier Prime Ministers Rozgar Yojana (PMRY) and Khadi & Village Industries Commissions Rural Employment Generation Programme (REGP), from the FY 2008-09. The Bank has extended financial assistance of Rs 37 crs to 680 beneficiaries under PMEGP during the year. The Banks total credit under PMEGP Scheme as at March 2014 stood at Rs 39.85 crs, covering 1,187 beneficiaries.
3.13.2. Swarna Jayanthi Shahari roj-gar yojana (SJSry) Scheme
The Bank has extended financial assistance of Rs 10 crs under SJSRY during the year to 363 beneficiaries.
Total amount outstanding under SJSRY scheme as on March 2014 is Rs 44.7 crs, covering 4,640 beneficiaries.
3.13.3. Differential rate of Interest (DrI) Scheme
The Banks advances under DRI scheme stood at Rs 15.8 crs as at March 2014 covering 13,605 beneficiaries and the share of advances to SC/ST beneficiaries within this is 51% (Rs 8 crs).
3.13.4. Swarna Jayanthi Gram Swarozgar yojana (SGSy) Scheme
The Bank has extended financial assistance of Rs 2.1 crs under SGSY during the year to 67 group beneficiaries. Besides 94 individual beneficiaries were also extended financial assistance to the tune of Rs 0.69 crs. Total amount outstanding under SGSY scheme as at March 2014 is Rs 13.73 crs, covering 1,438 beneficiaries.
3.14.1. The total investments of the Bank in Government securities, other approved securities and Non-SLR securities increased from Rs 16,864 crs as at March 2013 to Rs 19,300 crs as at March 2014.
3.14.2. Profit on sale of investments increased from Rs 66.53 crs in 2012-13 to Rs 69.36 crs in 2013-14. During the year interest and dividend income from investments, net of amortization charges, registered a growth of Rs 151.46 crs (13%) over March 2013 level of Rs 1,157.57 crs.
3.14.3. While interest yield on investments increased from 7.30% (2012-13) to 7.37% (2013-14) due to the fact that new securities purchased were at higher yield levels, yield on investments, including profit on sale of securities increased from 7.49% to 7.56% during the same period.
3.14.4. Foreign Exchange Turnover of the Bank in 2013-14 declined to a level of Rs 2.97 lac crs (Merchant Turnover Rs 0.30 lac crs and Trading Turnover Rs 2.67 lac crs) against previous years level of Rs 4.04 lac crs (Merchant Turnover Rs 0.25 lac crs and Trading Turnover Rs 3.79 lac crs.)
3.14.5. The exchange profit generated from Foreign Exchange business during FY 2013-14 was, however, higher at Rs 59.60 crs as against Rs 58.25 crs in the previous year.
3.15. International Banking
3.15.1. The level of Export Credit as on 31st March 2014 was Rs 1666.08 crs (Rs 1395.44 crs as on 31st March 2013), constituting 3.70% of ANBC. With a view to encouraging export business, a seminar of exporters/importers in and around Bangalore was conducted. Exporters Gold Cards have also been offered to eligible export units.
3.15.2. NRI Deposits as on March 2014 stood at Rs 1,229 crs as against Rs 972 crs, as on March 20
Arundhati Bhattarcharya , Chairperson
Sharad Sharma , Managing Director
Ramasubramanian S , Director (Shareholder)
Gururaj Acharya K , Nominee (Govt)
Company Head Office / Quarters:
Mysore Bank Circle,
Phone : Karnataka-91-80-22353901-22353909/22353473 / Karnataka-
Fax : Karnataka-91-80-22283684 / Karnataka-
E-mail : firstname.lastname@example.org
Web : http://www.statebankofmysore.co.in
Integrated Enterprises (I) Ltd
Kences Tower,2nd Floor No 1,Ramakrishna Street,Chennai - 600 017
|Scheme Name||No. of Shares|
|Reliance Capital Builder Fund II - Sr.A (G)||88,500|
|Reliance Capital Builder Fund - Series A (G)||61,600|
|Reliance Capital Builder Fund II - Sr.A (G)||88,500|
|Reliance Capital Builder Fund - Series A (G)||61,600|
|Reliance Capital Builder Fund II - Sr.A (G)||88,500|