Pun. & Sind Bank Management Discussions


Economy can draw considerable comfort from prevailing favorable macro conditions in terms of decline in inflation, increase in foreign capital inflows, fairly stable currency, narrowing trade deficit and current account deficit, lower interest rate regime and growth supportive government policies and initiatives, including the adoption of fiscal discipline. 2016-17 has been marked by several historic economic policy developments. On the domestic side, we are very close to introduction of the long-awaited and transformational goods and services tax (GST) while demonetization of the large currency notes signaled a regime shift to punitively raise the costs of illicit activities. There is a widespread view that Economy has moved on a high growth path and it could expand by between 6.75% and 7.5% in 2017-18 signaling that growth could recover sooner than expected after scrapping of high-value banknotes. Demonetization would bring longterm benefits to the economy, structural reforms and a proposed Goods and Service Tax could boost growth rate to desired level. The growth in GDP during 2016-17 is estimated at 6.8%. Industry has shown significant improvement primarily on account of the surprising acceleration in manufacturing. Meanwhile, services continue to expand rapidly. Industry and services sector are expected to grow by 5.7% and 8.5% respectively in 2016-17. The CPI based inflation remains under control with a median forecast of 4.7% for 2016-17, with a minimum and maximum range of 3.8% and 5.1% respectively. Low inflation has been sustained due to low commodity prices. Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of 2016-17. Foreign exchange reserves have reached 366.7 billion US Dollars.

Economy continued to recover strongly, benefiting from a large improvement in terms of trade, effective policy actions and stronger external buffers. Government remains committed in establishing incremental economic reforms and taken important policy actions toward the implementation of the goods and services tax, which will be positive for investment and growth. The challenges for the economy is to activate agricultural growth and rural demand, trade, future movements in the commodity prices, and private investment. However, the Government, RBI and other concerned agencies are undertaking suitable measures for facing the same.

As far as banking sector is concerned, profits and profitability was affected mainly by the deterioration in the asset quality that remains a serious cause of concern for the Bank and Capital Adequacy. Profitability is under pressure along with greater challenge in increasing the NIM. The Bank, among other things, continues to focus on decreasing the Cost of Deposit and improving the Return on Assets. Different measures with focus on product innovation, off-balance sheet activities to increase income from non-core activity, efficiency in service delivery process, effective risk management etc. and more importantly on customer satisfaction are being taken up to face the challenges.



During the year ended 31.03.2017, total Business of the Bank stood at Rs.145803 crore as compared to Rs.156527 crore as on 31.03.2016.


The Bank recorded a Net Profit of Rs.201.08 crore for the year 2016-17 as compared to that at Rs.335.97 crore during the FY 2015-16. The Return on Assets (ROA) stood at 0.20% as compared to that at 0.34% in the year 2015-16.


The Bank continues to accord importance to the three Social Security/Pension Schemes launched by Government of India and 157951 enrollments under Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY), 850936 cases under Pradhan Mantri Suraksha Bima Yojana (PMSBY) and 40039 number of cases under Atal Pension Yojna (APY) were got enrolled by the Bank up to 31.03.2017.

Efforts were made to popularize/cross sell the facility of depositing Direct & Indirect taxes and approximately 100000 (One lac) challans were mobilized.

The performance of the Bank under different Govt. Small Saving Schemes continued to be good and about 5000 accounts as on 31.03.2017 were mobilized under Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS) and Sukanya Samridhi Account (SSA) schemes.


• The Bank has opened 11.72 lac accounts through branches and 351 Business Corresponds (BCs); and mobilized CASA/FD/RD deposit of Rs. 610.82 crore, with an average deposit of Rs.5211 per account.

• Total Business generated by BCs is Rs. 290 crore, which includes Recovery in 950 NPA/TWO accounts amounting to Rs. 3.82 crore.

• During the financial year 2016-17, the Bank received a sum of Rs. 21.46 lac as miscellaneous income for 3.07 lac Adhar enrollments done through M/s Matrix Processing House.

• The Bank has so far received subsidy amount of Rs. 42.45 lac for 283 MicroATMs from UIDAI. Punjab & Sind Bank is one of few Public Sector Bank to receive such subsidy from UIDAI for MicroATMs

• Total zero balance accounts in PMJDY are at 1.3 % against industry average of 23 % (lowest among all Banks).

• Total Aadhaar seeding in active PMJDY Accounts is 85%.

• 100% BCs of our RRBs and 91% BCs of our Bank are certified through Indian Institute of Banking & Finance (IIBF) (highest among all banks).

• The Bank in coordination with the Financial Literacy Centers (FLCs) took the initiative to spread financial literacy among rural population by conducting Financial Literacy Camps in the villages where Basic Banking services along with other financial schemes like PMJDY, PMJJBY, PMSBY, APY, OD etc are discussed with the villagers, so that they are able to avail these services as per their requirements. Total number of 418 Camps were organized in FY 2016-17 with the help of FLCs, Branch Managers & BCs.

• Our Micro ATMs are Adhar Enabled Payment System (AEPS) & Rupay PINPAD enabled, helping rural customers to do intra and inter Bank transactions using their biometrics or Rupay Debit Cards.


• Sovereign Gold Bond: Bank has participated in Sovereign Gold Bond Scheme of Govt of India, during 2016-2017, and performed consistently well to be among the top performers.

• ASBA: The ASBA facility was launched during the year, and a total of 93 Issues have since been handled.

• Gold Monetization Scheme (GMS): The Bank has tied up with MMTC PAMP for Gold Monetization Scheme of Govt. of India.

• Bancassurance business: Bank successfully completed the process for Corporate Agent Tie up with Life Insurance Companies, under which formal agreement with SBI Life Insurance Company has been executed.


• The Bank launched "Priority Sector Credit Campaign- PSCC" from 15.12.2016 to 14.03.2017 to boost the Priority Sector Lending. An amount of Rs. 808.60 crore has been disbursed during the campaign.

• To boost investment credit in Agriculture Sector, the Bank has dispensed with the ceiling of minimum 12% rate of interest under two schemes namely PSB scheme of Financing Two Wheeler/ Jeep/ Car/ SUV to farmers and PSB Farm Mechanization Scheme

• The Bank has launched a scheme "P&SB Weavers MUDRA Scheme" for extending loans upto Rs.5.00 lac to handloom weavers to provide adequate and timely assistance to the weavers to meet their credit requirements i.e. for investments need as well as for working capital, in a flexible and cost effective manner.

• Under the Shishu category of Mudra loan (upto Rs. 50,000/-), margin has been reduced from 25% to 10% & Inspection charges have been waived.

• New functionalities developed in Internet Banking for customers :-

a) Cheque Stop facility;

b) Auto generation of password for retail customer;

c) RTGS facility;

d) Online Aadhar Seeding;

e) Online Registration for Pradhan MantriJeewanJyotiYojna/Pradhan MantriSurakshaBeemaYojna;

f) E-filing of ITR.

• The Bank has opened two new Zonal Offices at Ahmedabad and Noida for effective monitoring of the branch network. AWARDS & ACHIEVEMENTS

Federation of Industries Trade Services (FITS) has awarded the Bank, "FITS MSME Excellence Award" by Honble Union Minister Sh. Kalraj Mishra for contribution in growth of MSME Segment.

The Bank has been awarded CIMSME Excellence Award 2016-17 for contribution to Micro Credit by Honbe Union Minister of State for Finance and Corporate Affairs Sh. Arjun Ram Meghwal.

Banks Hockey Team won the following National Tournaments:

• All India S.N. Vohra Gurmit Hockey Tournament

• Senior National Hockey Championship (B Division)


• Total Priority Sector Advance increased from Rs.24508 crore as on 31.03.2016 to Rs.24928 crore as on 31.03.2017.

• The Banks Agriculture advance increased by Rs.190 crore to Rs.11355 crore as on 31.03.2017 from Rs.11165 crore as on 31.03.2016.

• The Banks advance to Small & Marginal Farmers increased to Rs.5656 crore which is 8.08% of March 2017 Adjusted Net Bank Credit (ANBC) against the RBI stipulated target of 8%

• The Bank made advance to the tune of Rs.691.27 crore against the target of Rs.900 crore under Pradhan Mantri Mudra Yojana which is 76.81% against the target of Rs.900 crore.

• The Bank has issued RuPay Debit Cards in 2.01 lac KCC accounts against the total operative KCC accounts of 2.02 lac (99.48 %) as on 31.03.2017.

• The Bank has opened another 4 Financial Literacy Centres (FLCs) at block level in Punjab thus raising total number of FLCs to 13 as on 31.03.2017.

• One of three Rural Self Employment Training Institute (RSETI) i.e. Faridkot were given highest grade AA by Ministry of Rural Development, Govt. of India, for the year ended 31.03.2016 making it eligible for Govt. grants for training of rural unemployed youth. The Bank spent Rs. 24,36,410/- to provide basic infrastructure such as Computer labs, Sewing & Embroidery machines, CCTV cameras, Air conditioner & Refrigerator, window curtains & fittings and for planting trees, shrubs & other green beautification at Rural Self Employment Training Institute (RSETI) Moga and Faridkot.


• The Bank has primarily focused on the growth of its Retail Lending portfolio during the FY and accordingly liberalized and rationalized its Retail Lending offerings to make them more attractive and competitive. Festival Bonanza Scheme offering attractive concessions under the Housing Loan, Auto Loan and Consumer Loan segments was launched.

• Retail Lending portfolio of the Bank as on 31.03.2017 stands at Rs.7296.51 crore and thereby, registered a business growth of 12.38% over the previous year.

• The percentage of Retail Advances to Gross Advances was 12.10% as on 31.03.2017.


The Bank continued to make concerted efforts to contain NPAs and has used all available tools of recovery including negotiated settlements & legal means and organized Recovery Camps at various centers.

The performance of the Bank under recovery of NPAs during the year remained reasonable. The aggressive and focused efforts could result in the total recovery of over Rs. 958.91 crore including recovery of Rs. 42.13 crore in Technically Written Off Accounts. Gross NPAs and Net NPAs as on 31.03.2017 stood at Rs 6297.59 crore and Rs.4375.08 crore respectively against Rs.4229.05 crore and Rs.2949.47 crore as on 31.03.2016.

The position of Gross and Net NPAs as on 31.03.2017 vis-a-vis previous year is as under

(Amount in Rs. crore)


As on 31.03.2016

As on 31.03.2017

Gross 4229.05 6.48 % 6297.59 10.45%
Net 2949.47 4.62 % 4375.08 7.51%

The Provision Coverage Ratio of the Bank (including T.W.O.A/Cs), as on 31.03.2017 stood at 46.69 %.


The Bank has setup Control Room at Head Office and Zonal Offices for effective monitoring of large accounts and to check fresh slippages. Restructuring of eligible cases is being undertaken as per Bank/RBI guidelines.

In order to supplement the aforesaid, various policy related initiatives have also been taken by the Bank which inter-alia include implementation of Framework for Revitalizing Distressed Assets in the Economy for Early Recognition of Financial Distress, Prompt steps for Resolution and Fair Recovery for lenders, guidelines on refinance by way of flexible structuring/takeout financing etc.


The Banks total gross investment as on 31.03.2017 was Rs28080.16 crore, with a portfolio composition consistent with the corporate requirement, risk perception, and investment policy of the Bank.

On account of active trading in G-sec and Non SLR securities, the trading profit has increased by 87% from Rs. 140.12 crore for year ended March 2016 to Rs. 261.97 crore for the year ended 31.03.2017. This year, Bank has put a step forward to add a new line of profit with initiation of secondary market trading in Non SLR Bonds. Besides this, well assessed participation in Equity Share IPOs has further strengthened and diversified the earning avenues.

The profit from foreign exchange business is Rs 38.99 crore in FY 2016-17.


The Bank has put in place a robust and integrated Risk Management system to ensure that the risks assumed by it are within the defined risk appetites and are adequately monitored


The Bank has Board approved policies and procedures in place to measure, manage & control various risks that the Bank is exposed to. Following Risk Management policies are in place —Risk Management Policy, Asset-Liability Management (ALM) Policy, Credit Risk Management Policy, Market Risk Management Policy, Operational Risk Management (ORM) Policy, Business Continuity Planning (BCP) & Disaster Recovery Management (DRM) Policy, Stress Testing Policy, Policy on Utilization of Credit Risk Mitigation Techniques & Collateral Management, ICAAP Policy, Integrated Risk Management Policy, Policy on Management of Intra Group Transactions & Exposures and Loss Data Management Framework.


In terms of Regulatory Guidelines of Reserve Bank of India, the Bank has adopted the New Capital Adequacy Framework w.e.f. 31.03.2009. Based on Basel II norms, the Bank has adopted Standardised Approach for Credit Risk, Modified Duration approach for Market Risk and Basic Indicator approach for Operational Risk for computing the capital charge. The Bank has also implemented Basel III Guidelines and has started computing CRAR w.e.f. June 2013. The Bank has geared for moving towards advanced approaches under BASEL II as suggested by RBI. A Consultant has been appointed for setting up Enterprise Wide Integrated Risk Management System (EIRMS) in the Bank for moving to Advance approaches of Basel II and implementation of Basel III Guidelines.


In compliance with Reserve Bank of India guidelines on Basel II & Basel-III, Pillar 2- Supervisory Review and Evaluation Process (SREP), the Internal Capital Adequacy Assessment Process (ICAAP) Policy has been formulated to assess the capital requirement commensurate with the size, level of complexity, risk profile and scope of operations of the Bank. Various residual risks are assessed and additional capital is provided for wherever required. The ICAAP outcome is prepared on half yearly basis and is reviewed by RMC.


In compliance with the Reserve Bank of India guidelines on Basel II& Basel III-Pillar 3-Market Discipline, the Bank has put in place a Disclosure Policy duly approved by the Board and the disclosures on quarterly/Half yearly/Annual basis, as per the policy, are displayed on the Banks Website/Annual Report.


Credit Risk Management processes involve identification, measurement, monitoring and control of credit exposures. Credit risk and its policy formulation is managed by the Credit Risk Management Committee (CRMC). It regularly monitors prudential caps in different loan segments including industry, corporate, retail and individual/group borrowers. Comprehensive credit rating framework comprising of Credit Risk Rating Models for Corporate Exposure, NBFC Exposure, Real Estate Exposure and Retail Exposure , pricing of loans linked to risk assessment and credit rating, study & analysis of industries/portfolio, migration of credit ratings is undertaken.


The Banks portfolio is exposed to market risk on account of changes due to interest rates and currency rates. The Asset and Liabilities Management Committee (ALCO) is overseeing the functions relating to market risk. The Bank has put in place a variety of market risk measurement systems and tools. Strict adherence to various limits and proper escalation of breaches, if any, are followed. Moreover, a Mid Office is also in place.

The Liquidity Management Framework is well established, which safeguards the ability of the Bank to meet all payment obligations when they come due. It is designed to identify measure and manage the liquidity risk position of the Bank. The Bank is computing the market risk capital charge as per the Modified Duration approach, by using Modified duration method, as per the regulators guidelines. The Bank also calculates Value at Risk (VaR) on its foreign exchange portfolio.


The Operational Risk Management Committee (ORMC) oversees the matters relating to risks associated with operations and ensures the continuity/restoration of business in the event of contingency/exigencies. Presently, capital charge on operational risk is calculated as per Basic Indicator Approach. The Bank is in the process of strengthening its ORM Framework & ORM systems so as to be able to migrate to advance approaches of calculation of Operational Risk Capital. The Bank has Board approved Framework for Loss Data Management to set minimum standards for management of Banks Operational Loss Data in order to comply with the overall Operational Risk Management (ORM) Policy of the Bank and facilitate creation of a robust and comprehensive Operational Loss Database.


The cadre wise staff strength as on 31.03.2017 is as under:

Category 31st March 2016 31st March 2017
Officers 6632 6663
Clerks 2202 2241
Sub-staff 569 496
Total 9403 9400

Women in employment: Out of the total strength of 9400 as on 31.03.2017, the women employees are 2454 constituting 26.11% of the total strength.

Women Empowerment:

The Bank has taken specific steps to empower its women employees and to plan their career growth. HO HRD Women Cell at Head Office looks after feedback/ suggestions, requests and complaints/grievances, received from women staff of the Bank for quick disposal and Welfare of all Women Staff Members of the Bank. Womens Week was also celebrated in the Bank. The Bank has implemented Sabbatical Leave Scheme for all permanent full time Women employees for maximum of 2 years during their entire career.


The Bank is regularly promoting its employees almost in all cadres year after year to keep on rewarding the top performers and make them assume higher responsibilities.

Training & Human Resources Development:

The newly recruited Probationary Officers were provided training under different fields such as Orientation Programme, Training on Advances at Branch Level, Training Programme on Credit Management, Credit Appraisal, NPA Management & Recovery of NPAs. Single Window Operators (SWO) were also imparted Induction Training.

To encourage staff members to upgrade their professional skills, the Bank has incentivized re-imbursement of the full course fee of 21 Certificate and Diploma Courses offered by IIBF. The Bank has also tied up with IIBF for e-learning material for JAIIB & CAIIB which has been placed on the Banks intranet under the head "HRD Initiative: E-Learning"

In view of MoF guidelines, the Bank regularly conducts Webinars to reach out to all the staff members working in the branches/ offices at the same time to train them in a short span.

Staff Training College, Rohini, Delhi : Banks New Staff Training College situated at Rohini, Delhi was inaugurated by Chairman & Managing Director on 06/02/2017.

The Bank has engaged a Chief Customer Service Officer (Internal Ombudsman) in view of the recommendations of the Committee on Customer Service in the Banks (Damodaran Committee) in order to strengthen the Grievance Redressal Mechanism available for the Bank customers.

Industrial Relations: The Industrial relations in the Bank remained cordial throughout the year. A Grievance Redressal Committee has been constituted as per the guidelines received from Ministry of Finance to redress the grievances raised by the staff members. The Bank opened a Holiday Home facility at Mumbai.

Employment to Reserved Category Employees: The Bank is committed to the constitutional safeguards and social objectives for the development and welfare of persons belonging to SC, ST and Other Backward Classes of the society.

A special SC/ST cell has been set up in the Bank to monitor reservation & other provisions for SC/ST employees. A General Manager has been designated as Chief Liaison Officer for SC/ST employees who ensures compliance of various guidelines pertaining to SC/ ST employees and takes care of all matters of grievance redressal of SC/ST employees of the Bank.

The staff strength on 31.03.2017 under various reserved categories is as under:-

OFFICERS 1057 474 1185 54 100
CLERKS 496 70 460 153 38
SUB-STAFF 182 23 29 92 11
TOTAL 1735 567 1674 299 149

Compassionate appointments and financial assistance to the dependents of Deceased Employees:

The Bank is having a scheme for appointment on compassionate grounds or payment of ex-gratia amount in lieu of compassionate appointment to eligible family of the deceased employee who dies while in service.

Staff Welfare: In order to motivate and encourage the staff for effective participation in development activities, the Welfare Trust of Employees is maintaining various welfare schemes for the staff. During the financial year 2016-17, welfare schemes of the Bank were successfully implemented.


• As on 31.03.2017, all 1500 branches are on Core Banking Solution with RTGS/NEFT facility.

• Users in Internet Banking/Mobile Banking have increased by 50% during FY 2016-17.

• The revenue collection of Financial Year 2016-17(Bill Aggregators) is Rs.5.78 Lac (Approx).

• The Bank has installed 30 new ATMs during the Year 2016-17. Total number of ATMs of the Bank as on 31.03.2017 is 1253.

• All new cards are being issued as EMV Chip Cards.

• Hot listing of debit cards through SMS has since been implemented

• The Bank had migrated existing ATM interface to Rupay Interface

• Sukanya Samrithi Yojna(SSY) has been implemented in the Bank.

• Auto renewal of FDRs with maturity value of <1 Crore has been implemented in the Bank.

• Pradhan Mantri Garib KalyanYojna (PMGKY) has been implemented in the Bank.

• The Bank has implemented Customer satisfaction feedback

• Missed Call inquiry facility has been provided to the customers of the Bank.

• UPI/ POS/ Aadhar-Pay/ Bharat-QR are in pipeline and shall be implemented shortly.

• RBI guidelines on demonetization were strictly followed and implemented including re-caliberation of ATMs in the Bank.


The Bank has in-built control systems with well-defined responsibilities at each level. It conducts internal audit through Inspection & Audit Department. Audit Committee of Executives, being first tier Committees oversees the Inspection & Audit function.

The Bank carries out audits-like Risk Based Internal Audit (RBIA), Concurrent Audit (CCA), Information System Audit, Management Audit & Inspection (MAI) and Credit Audit through which different facets of Internal Audit requirements are covered. The Banks business units/offices are subjected to RBIA, CCA & IS Audit and Banks Management Audit & Inspection covers Zonal Offices & other Administrative Offices and examines policies and procedures, besides quality of execution thereof and credit exposures of Rs. 3.00 crore & above are subjected to Credit Audit by external Auditors.

Inspection & Audit Department is monitoring redressal of public grievances/complaints. During FY 2016-17, 4437 complaints were received of which 86 complaints are in process for redressal.


Compliance Department disseminates the regulatory guidelines to respective business departments and ensures its compliance.

During the FY 2016-17, Compliance Department ensured migration from CAMELS framework to RBS supervisory framework as per RBI directives.


During the financial year 2016-17, the Bank adopted a multi-media strategy to build up its image in public at corporate level and accordingly publicity was made through the print media by release of its products, tenders, financial and other display/notice advertisements in different newspapers, magazines and souvenirs targeting various audiences all over the country. The Bank received immense publicity through Banks traditional Wall Calendar 2017 which was widely distributed.



With the aim to sensitize /enrich the knowledge of Vigilance Administration in the Senior functionaries of Banks, One Day Workshop on "Vigilance Administration & Preventive Vigilance" for the Senior Functionaries of Five Banks was organized at Administrative Staff College of India, Banjara Hills, Hyderabad on 05.08.2016. Honble Shri K.V Chowdary, Central Vigilance Commissioner inaugurated the programme being the Chief Guest of Honour.

On this occasion the Honble Commissioner CVC also released Banks Periodical " PSB Vigil " (2nd Volume). More than 100 Senior Functionaries of 5 Banks viz Punjab & Sind Bank, Central Bank of India, Andhra Bank, State Bank of Hyderabad and Bhartiya Mahila Bank, actively participated in the programme.

The Bank observed Vigilance Awareness Week with the central theme ^Participation in Promoting Integrity and Eradicating Corruptions in true spirit. During the course of observance of Vigilance Awareness Week 2016, the Bank organized different programmes at different centres across the country and the main function was organized at New Delhi on 3rd November 2016. Ms Nilam Sawhney, IAS, Secretary, Central Vigilance Commission, being Chief Guest graced the occasion and addressed the gathering of more than 200 participants, mainly consisting of citizens representing different sections of the society and senior functionaries of the Bank. Shri Jatinderbir Singh, IAS, CMD along with Ms Nilam Sawhney, IAS, Secretary, CVC inaugurated the programme, being the Guest of Honour. During the programme Vigilance News Letter ffl DOs & DONTs ffl was also released. Besides, different programmes were also organized at the Bank level across the country at Gram Sabhas/schools and colleges which were attended by more than 68000 participants.

This year the Honble Commission introduced E-Pledge (Integrity Pledge) activity to create greater awareness and participation of public at large. In this respect, staff members/customers of the Bank were encouraged to have E-Pledge through hyper link provided on Banks web site, which resulted in participation of more than 10000 people and availed E-Pledge facility across the nation.


During the Demonetisation period i.e. from 9th November, 2016 to 30th December, 2016, Vigilance Officials played a key role in follow up and monitoring with the concerned Department and the Controllers that guidelines issued by the Govt./RBI from time to time in respect of Demonitisation drive are being followed in the Bank in true spirit. The Vigilance Department took up the matter with the respective Controllers and Management to ensure that wherever there were serious irregularities; the same have been dealt with suitably and firmly.


With the active involvement of all the Disciplinary Authorities (DAs)/Controllers and proper coordination with the Honble CVC/other Govt. Agencies, pending vigilance (RDA) matters/complaints etc. were brought down to bare minimum level which is evident from following table:

2013-14 2014-15 2015-16 2016-17
Vigilance (RDA) Cases pending 75 70 58 49
Pending CVC referred Complaints 02 01 00 00
Charge Sheet issued 102 63 56 53
No. of officials in the Agreed List 53 23 20 18
No. of officials in the ODI List 135 120 98 81


The Bank has a well established Security set-up within the Banks organizational structure. All essential and mandatory security arrangements in terms of RBI/ IBA guidelines are provided at almost all branches.

Security Alarm Systems are installed at all branches and currency chests. Strong Room conforming to RBI specification are provided at majority of branches. CCTV Surveillance System has been installed at all Currency chests.


RBI vide circular dated February 11, 2016 had advised scheduled commercial banks (except RRBs) to follow the Indian Accounting Standards as notified under the Companies (Indian Accounting Standards) Rules, 2015, subject to any guideline or direction issued by the RBI.

Scheduled commercial banks are required to comply with Ind AS for financial statements for accounting periods beginning from April 1, 2018 onwards, with comparatives for the period ending March 31, 2018.

In compliance with the regulatory requirements, the Bank has constituted a Steering Committee headed by Executive Director to oversee the implementation of Ind AS. The scope of the Steering Committee includes evaluating the impact on the following areas:

(a) Ind AS technical requirements

(b) Systems and processes

(c) Business impact

(d) People

(e) Project management

The Audit Committee of Board will oversee the progress of implementation of Ind AS and update to the Board on a quarterly basis. As a part of the Ind AS implementation plan, the bank is currently in the process of completion of diagnostic analysis of differences between the current accounting framework and Ind AS. The Bank is also in the process of preparation of proforma financial statements for the six months ended 30 September 2016 to be submitted to RBI."


2016-17 was the year of achievements in the area of implementation of Official Language. On the one hand, Banks Hindi Magazine RAJBHASHA ANKUR was awarded 1st Prize continuously for the second year by Delhi Bank Town Official Language Implementation Committee (TOLIC) and on the other hand, the Magazine was awarded All India Level "Rajbhasha Shield" from Reserve Bank of India on 24th of May 2016. During the year, Delhi Bank TOLIC also awarded Punjab & Sind Bank with 16 Prizes which is a new record. Besides this, Bank was awarded Rajbhasha Shields in Ludhiana, Bhatinda, Delhi, Patna, Bengluru, Chennai, Jodhpur, Guwahati and Panjim (Goa) by respective TOLICs for better Implementation of Official Language in banking sector.

Bank launched RAJBHASHA PORTAL during the year. Portal will help in submitting online Quarterly Progress Report and will facilitate viewing of the Bank magazine, E- magazines & official language related other information/activities.

A remarkable achievement of this year was that our Bank has constituted a TOLIC for the first time under Ministry of Home Affairs, Govt. of India. On 10.03.2017 in the city of Faridkot, our Bank presided over the committee of Central Government offices, banks/undertakings etc. The innovative step such as publishing the writings in Regional Languages has been given importance in the Magazine which is richly complemented by banking industry. So far, stories/articles in Odiya, Bengali, Santhali, Punjabi, Tamil and Marathi languages have been published with their Hindi versions.


The Bank has a Sports Academy which nurtures Banks Hockey Team at National Level, besides Hockey Academy for age group of 15-18 years.

Following players of the Banks Hockey Team have represented the Country:

Sh. Ramandeep Singh Sh. Harbir Singh Sh. Satbir Singh
Sh. Prabdeep Singh Sh. Harjot Singh

Shri Ramandeep Singh has represented Indian Hockey Team in Rio Olympic in August 2016.

9 players represented Indian Premier League 2017 from different teams, which was organized by Hockey India. Out of these, five players namely Sh. Simranjeet Singh, Sh. Vikramjit Singh, Sh. Parvinder Singh, Sh. Gurinder Singh and Sh. Santa Singh also represented Junior World Cup Hockey Tournamant held at Lucknow and Indian Team won GOLD MEDAL in the tournament.

Sh. Baljeet Singh Saini was appointed as Coach of Indian Junior Women Hockey Team for the year 2016-17 and Coach of Delhi Wave Riders Team for Indian Premier League.

The Bank has recruited eight hockey players during the year to strengthen its hockey team. The Bank has also enrolled 22 Hockey players for Banks Junior Hockey Academy under Scholarship Scheme.


The Bank is undertaking construction works/projects on its owned premises and is also involved in the procurement of assigned Goods/Services. Construction of Staff Training College (STC) at Rohini, Delhi has been completed and STC was inaugurated on 06.02.2017. Banks Corporate house and residential flats at East Kidwai Nagar, New Delhi are likely to be completed in FY 2017-18.


As on 31st March 2017, the Board comprised of three Whole Time Directors viz Chairman & Managing Director and two Executive Directors besides five other Directors including representatives from Ministry of Finance, Reserve Bank of India, two Share Holder Directors and one Part Time Non Official Director.

The constitution of Banks Board of Directors underwent following changes during the year 2016-17:


> Sh. Fareed Ahmed was appointed as Executive Director of the Bank vide Government of India, Ministry of Finance, Department of Financial Services, New Delhi Notification No. F.No. 4/5/(6) 2016-BO.I dated 16.02.2017.


> Sh. Sanjay Verma completed his term as Non Official Director on 11.08.2016

> Smt. Anita Karnavar completed her term as Non Official Director on 29.01.2017

> Sh. A K Jain completed his term as Executive Director of the Bank on 31.01.2017, i.e., the last day of the month in which he attained the age of superannuation.