IDBI Bank Annual Report 2023-24 PDF

\vaVaya-saUcaI Contents H$m°anmoaoQ> {dh§JmdbmoH$Z CORPORATE OVERVIEW ‘w»¶ H$m¶©-{ZînmXZ g§Ho$VH$ ii Key Performance Indicators ii 31 ‘mM© 2024 H$mo {ZXoeH$ ‘§S>b iv Board of...

\vaVaya-saUcaI Contents H$m°anmoaoQ> {dh§JmdbmoH$Z CORPORATE OVERVIEW ‘w»¶ H$m¶©-{ZînmXZ g§Ho$VH$ ii Key Performance Indicators ii 31 ‘mM© 2024 H$mo {ZXoeH$ ‘§S>b iv Board of Directors as on March 31, 2024 iv 31 ‘mM© 2024 H$mo ‘w»¶ gVH©$Vm A{YH$mar Ed§ v Chief Vigilance Officer and Executive v H$m¶©nmbH$ {ZXoeH$ Directors as on March 31, 2024 Aܶj H$m g§Xoe vi Message from the Chairman vi à~§Y {ZXoeH$ Ed§ grB©Amo H$m g§Xoe xiv Message from the Managing Director & CEO xiv Hw$N> à‘wI J{V{d{Y¶m§ xxii Some Major Events xxii nwañH$ma Ed§ gå‘mZ xxvi Awards and Accolades xxvi gm§{d{YH$ [anmoQoª STATUTORY REPORTS {ZXoeH$m| H$s [anmoQ>© 2 Directors’ Report 9 à~§Y {ddoMZm Ed§ {dícofU 16 Management Discussion and Analysis 42 H$m°anmoaoQ> A{^emgZ [anmoQ>© 67 Corporate Governance Report 119 H$mamo~mar CÎmaXm{¶Ëd Am¡a g§YmaUr¶Vm 170 Business Responsibility & Sustainability 228 {anmoQ© Report {dÎmr¶ {ddaU FINANCIAL STATEMENTS EH$b {dÎmr¶ {ddaU 286 Standalone Financial Statements 286 g‘o{H$V {dÎmr¶ {ddaU 440 Consolidated Financial Statements 440 g‘o{H$V {nba III àH$Q>Z 564 Consolidated Pillar III Disclosures 564 ‘w»¶ H$m¶©-{ZînmXZ g§Ho$VH$ 31 ‘mM© 2024 H$s pñW{V Key Performance Indicators Position as on March 31, 2024 H$a níMmV² bm^ n[aMmbZJV bm^ Profit After Tax Operating Profit R H$amo‹S> crore R H$amo‹S> crore 2023-24 R5,634 2023-24 R9,592 2022-23 R3,645 2022-23 R8,736 2021-22 R2,439 2021-22 R7,495 {Zdb ã¶mO Am¶ VwbZ-nÌ H$m AmH$ma Net Interest Income Balance Sheet Size R H$amo‹S> crore R H$amo‹S> crore 2023-24 R14,186 2023-24 R3,63,190 2022-23 R11,431 2022-23 R3,30,502 2021-22 R9,162 2021-22 R3,01,603 Hw$b O‘mampe`m§ Hw$b A{J«‘ ({Zdb) Total Deposits Total Advances (Net) R H$amo‹S> crore R H$amo‹S> crore 2023-24 R2,77,657 2023-24 R1,88,621 2022-23 R2,55,490 crore 2022-23 R1,62,568 2021-22 R2,33,134 2021-22 R1,36,955 AmpñV¶m| na à{Vbm^ (AmaAmoE) B{¹$Q>r na à{Vbm^ (AmaAmoB©) Return on Assets (RoA) Return on Equity (RoE) % % 2023-24 1.65 2023-24 19.50 2022-23 1.20 2022-23 16.15 2021-22 0.84 2021-22 13.60 ii Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements àmdYmZ H$daoO AZwnmV (VHZrHr ên go ~Åo ImVo Smco J`o g{hV) {Zdb EZnrE Provision Coverage Ratio (with Technical Write-Offs) Net NPA % % 2023-24 99.09 2023-24 0.34 2022-23 97.94 2022-23 0.92 2021-22 97.62 2021-22 1.36 OmopI‘ ^m[aV AmpñV¶m| H$s VwbZm ‘| ny§Or AZwnmV (grAmaEAma) {Zdb ã¶mO ‘m{O©Z Capital-to-Risk weighted Assets Ratio (CRAR) Net Interest Margin % % 2023-24 22.26 2023-24 4.93 2022-23 20.44 2022-23 4.52 2021-22 19.06 2021-22 3.73 O‘mam{e {‘lU (%) Deposit Mix (%) 15.91% 32.78% WmoH$ ~MV Bulk Savings 33.66% 17.65% [aQ>ob gmd{Y Mmby Retail Term Current A{J«‘ {‘lU (%) Advances Mix (%) 70% [aQ>ob Retail 30% H$m°anmoaoQ> Corporate dm{f©H$ [anmoQ>© Annual Report 2023-24 iii 31 ‘mM© 2024 H$mo {ZXoeH$ ‘§S>b Board of Directors as on March 31, 2024 lr Q>r. EZ. ‘ZmohaZ lr amHo$e e‘m© lr O`Hw _ma Eg. {nëb¡ Aܶj à~§Y {ZXoeH$ Ed§ grB©Amo Cn à~§Y {ZXoeH$ Shri T. N. Manoharan Shri Rakesh Sharma Shri Jayakumar S. Pillai Chairman Managing Director & CEO Deputy Managing Director lr ‘ZmoO ghm` lr gwerc Hw$‘ma qgh lr ‘wHo$e Hw$‘ma Jwám lr amO Hw$‘ma Shri Manoj Sahay Shri Sushil Kumar Singh Shri Mukesh Kumar Gupta Shri Raj Kumar lr ^wdZMÝÐ ~r. Omoer lr g‘aoe n[aXm lr EZ. O§~wZmWZ lr XrnH$ qgKb Shri Bhuwanchandra B. Joshi Shri Samaresh Parida Shri N. Jambunathan Shri Deepak Singhal lr g§O¶ JmoHw$bXmg H$ëbmnwa lr‘Vr nr.dr. ^maVr lr AO` àH me gmhZr Shri Sanjay Gokuldas Kallapur Smt. P. V. Bharathi Shri Ajay Prakash Sawhney iv Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements 31 ‘mM© 2024 H$mo ‘w»¶ gVH©$Vm A{YH$mar Ed§ H$m¶©nmbH$ {ZXoeH$ Chief Vigilance Officer and Executive Directors as on March 31, 2024 lr‘Vr Amem amOrd lr e¡b|Ð ZmS>H$Uu lr ZmJamO Jmabm lr‘Vr ~bqOXa H$m¡a ‘§S>b ‘w»¶ gVH©$Vm A{YH$mar Shri Shailendra Nadkarni Shri Nagaraj Garla Smt. Baljinder Kaur Mandal Smt. Asha Rajiv Chief Vigilance Officer lr ebrb Amdbo lr gw{ZV gaH$ma lr _wabr gm¡aramOZ lr B©œa nYmZ Shri Shalil Awale Shri Sunit Sarkar Shri Murali Sourirajan Shri Iswar Padhan lr [ÌbmoH e_m© lr AéU Hw$‘ma ~§gb Sm°. Hw _ma Zrb bmo{hV lr ~Ðr lr{Zdmg amd Shri Trilok Sharma Shri Arun Kumar Bansal Dr. Kumar Neel Lohit Shri Badri Srinivasa Rao lr A{ZéÕ ~oham lr CJoZ Qmer lr AO` a_oe bm§So Shri Anirudha Behera Shri Ugen Tashi Shri Ajay Ramesh Lande dm{f©H$ [anmoQ>© Annual Report 2023-24 v Aܶj H$m g§Xoe Message from the Chairman ˆÅƒÄ ˆÅ¸£ˆÅ¸Ê ¸¾¬¸½ ‚›¸ºˆ»Å¥¸ ˆÅ¸£¸½¤¸¸£ú Ÿ¸¸í¸¾¥¸, ¨¡¸¸œ¸ˆÅ ˆÅ¸£¸½¤¸¸£ú £µ¸›¸ú¢÷¸, ›¸½÷¸¼÷¨¸ ˆÅú ™»£™¢©¸Ä÷¸¸, ˆÅŸ¸Ä¸¸¢£¡¸¸Ê ˆ½Å ‚’»’ ¬¸Ÿ¸¦œ¸Ä·¸ œÏ¡¸¸¬¸ ÷¸˜¸¸ ¢í÷¸š¸¸£ˆÅ¸Ê ˆ½Å ¢¨¸æ¸¸¬¸ ˆ½Å ƒ«’÷¸Ÿ¸ ¢Ÿ¸ªµ¸ ›¸½ ¤¸ÿˆÅ ˆÅ¸½ ‚œ¸›¸½ ˆÅ¸£¸½¤¸¸£ú œÏ™©¸Ä›¸ ‚¸¾£ ¬¸Ÿ¸ŠÏ ¥¸¸ž¸œÏ™÷¸¸ Ÿ¸Ê ¥¸Š¸¸÷¸¸£ ¬¸ºš¸¸£ ˆÅ£›¸½ Ÿ¸Ê ¬¸í¸¡¸÷¸¸ ˆÅú. An optimal mix of several factors, such as conducive business environment, comprehensive business strategy, vision of the leadership, unwavering dedicated efforts of employees and trust of the stakeholders, aided the Bank in consistently improving its business performance and overall profitability. Q>r. EZ. ‘ZmohaZ Aܶj T. N. Manoharan Chairman vi Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ¢œÏ¡¸ ©¸½¡¸£š¸¸£ˆÅ¸½, Dear Shareholders, On behalf of the Board of Directors, I am pleased ¢›¸™½©¸ˆÅ Ÿ¸¿”¥¸ ˆÅú ‚¸½£ ¬¸½ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 ˆÅú ¤¸ÿˆÅ ˆÅú ¨¸¸¢«¸ÄˆÅ to present the Bank’s Annual Report for the ¢£œ¸¸½’Ä œÏ¬÷¸º÷¸ ˆÅ£÷¸½ íº‡ Ÿ¸º¸½ ‚÷¡¸¿÷¸ œÏ¬¸››¸÷¸¸ í¸½ £íú í¾. ¢¨¸î¸ú¡¸ Financial Year (FY) 2023-24. I write to you with ¨¸«¸Ä ˆ½Å ™¸¾£¸›¸ ‚œ¸›¸½ ˆÅ¸£¸½¤¸¸£ ‚¸¾£ ¢¨¸î¸ú¡¸ ˆÅ¸¡¸Ä-¢›¸«œ¸¸™›¸, ¬¸¸˜¸ íú an undeniable sense of pride in the way your Bank has performed during the financial year in ‚œ¸›¸½ ¬¸ž¸ú ¢í÷¸š¸¸£ˆÅ¸Ê ˆ½Å ¢¥¸‡ Ÿ¸»¥¡¸ ¬¸¿¨¸š¸Ä›¸ ˆÅú ¢™©¸¸ Ÿ¸Ê ‚œ¸›¸ú terms of its business and financial performance œÏ¢÷¸¤¸Ö÷¸¸ ˆ½Å ¢¥¸‡ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ ¸¸½ ˆÅ¸¡¸Ä ¢ˆÅ¡¸¸ í¾ „¬¸ˆÅ¸ „¥¥¸½‰¸ and also its commitment towards enhancing ˆÅ£÷¸½ íº‡ Ÿ¸º¸½ ‚œ¸¸£ Š¸¸¾£¨¸ ˆÅú ‚›¸ºž¸»¢÷¸ í¸½ £íú í¾. value for all its stakeholders. ‚¸¢˜¸ÄˆÅ œ¸¢£´©¡¸ Economic Scenario The global economy in the year 2023 remained ¨¸«¸Ä 2023 Ÿ¸Ê ¨¸¾¢æ¸ˆÅ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ ¢¨¸¢ž¸››¸ ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ ¸º›¸¸¾¢÷¸¡¸¸Ê, resilient despite various macroeconomic ž¸»-£¸¸›¸ú¢÷¸ˆÅ ‚¢›¸¢ä¸÷¸÷¸¸‚¸Ê, „¸ ¬÷¸£ú¡¸ Ÿ¸ºÍ¸¬ûÅú¢÷¸ ‚¸¾£ ˆÅ¢“›¸ challenges, geo-political uncertainties, ¢¨¸î¸ú¡¸ ‡¨¸¿ Ÿ¸¸¾¢ÍˆÅ ¦¬˜¸¢÷¸¡¸¸Ê ˆ½Å ¤¸¸¨¸¸»™ ¥¸¸ú¥¸ú ¤¸›¸ú £íú. œÏŸ¸º‰¸ elevated inflation and tight financial and monetary conditions. Pace of growth in major „››¸÷¸ ‚˜¸Ä¨¡¸¨¸¬˜¸¸‚¸Ê (‡ƒÄ) ‚¸¾£ ˆÅƒÄ œÏŸ¸º‰¸ „ž¸£÷¸ú ¤¸¸{¸¸£ Advanced Economies (AEs) and several major ‚˜¸Ä¨¡¸¨¸¬˜¸¸‚¸Ê (ƒÄ‡Ÿ¸ƒÄ) Ÿ¸Ê ¢¨¸ˆÅ¸¬¸ ˆÅú Š¸¢÷¸ „ŸŸ¸ú™ ¬¸½ ¤¸½í÷¸£ £íú Emerging Market Economies (EMEs) has been í¾. Ÿ¸ºÍ¸¬ûÅú¢÷¸ ˆÅ¸½ ¥¸®¡¸¸Ê ˆ½Å ‚›¸º³ œ¸ ¤¸›¸¸‡ £‰¸›¸½ ˆ½Å ¢¥¸‡ „››¸÷¸ better than expected. The monetary policy rates were kept on hold by major central banks ‚˜¸Ä¨¡¸¨¸¬˜¸¸‚¸Ê ˆ½Å œÏŸ¸º‰¸ ˆÊÅÍú¡¸ ¤¸ÿˆÅ¸Ê ׸£¸ Ÿ¸¸¾¢ÍˆÅ ›¸ú¢÷¸ ™£¸Ê ˆÅ¸½ in the AEs to ensure the aligning of inflation ¦¬˜¸£ £‰¸¸ Š¸¡¸¸. with targets. Amidst the challenging global environment, ¸º›¸¸¾÷¸úœ¸»µ¸Ä ¨¸¾¢æ¸ˆÅ Ÿ¸¸í¸¾¥¸ ˆ½Å ¤¸ú¸, ž¸¸£÷¸ú¡¸ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ ›¸½ ÷¸ú¨Ï the Indian economy expanded at a robust pace Š¸¢÷¸ ¬¸½ ¢¨¸¬÷¸¸£ ¢ˆÅ¡¸¸ ‚¸¾£ ¢¨¸æ¸ ˆÅú ¬¸¨¸¸Ä¢š¸ˆÅ ÷¸½¸ú ¬¸½ ¤¸õ÷¸ú œÏŸ¸º‰¸ and emerged as one of the fastest growing ‚˜¸Ä¨¡¸¨¸¬˜¸¸‚¸Ê Ÿ¸Ê ¬¸½ ‡ˆÅ ˆ½Å ³œ¸ Ÿ¸Ê „ž¸£ú ÷¸˜¸¸ ¨¸¾¢æ¸ˆÅ ¢¨¸ˆÅ¸¬¸ Ÿ¸Ê major economy in the world and a leading ‚ŠÏµ¸ú ¡¸¸½Š¸™¸›¸ˆÅ÷¸¸Ä ¤¸›¸ú. ‹¸£½¥¸» ‚˜¸Ä¨¡¸¨¸¬˜¸¸ ›¸½ ‚œ¸›¸ú ¢¨¸ˆÅ¸¬¸ ˆÅú contributor to global growth. The domestic economy exhibited strength and stability in its Š¸¢÷¸ Ÿ¸Ê Ÿ¸¸¤¸»÷¸ú ‚¸¾£ ¦¬˜¸£÷¸¸ œÏ™¢©¸Ä÷¸ ˆÅú, ¢¸¬¸½ ‚Žú ¢›¸¨¸½©¸ growth momentum, underpinned by healthy Š¸¢÷¸¢¨¸¢š¸ ˆÅ¸ ¬¸í¸£¸ ¢Ÿ¸¥¸¸. ¨¡¸¸œ¸ˆÅ ‚¸¾£ ¬¸Ÿ¸¡¸ œ¸£ ¢ˆÅ¡¸½ Š¸¡¸½ ›¸ú¢÷¸Š¸÷¸ investment activity. The comprehensive and œ¸í¥¸ˆÅ¸¡¸¸½ô ¬¸½ ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ ¤¸º¢›¸¡¸¸™ú ¸¿¸½ ˆÅ¸½ Ÿ¸¸¤¸»÷¸ ˆÅ£›¸½ Ÿ¸Ê timely policy initiatives aided in strengthening the macroeconomic fundamentals, Ÿ¸™™ ¢Ÿ¸¥¸ú, ¢¸¬¸›¸½ ¢¨¸¢›¸Ÿ¸¸Äµ¸ ‚¸¾£ ¬¸½¨¸¸ ®¸½°¸¸Ê ˆÅ¸½ ‚¢÷¸¢£Æ÷¸ œÏ¸½÷¬¸¸í›¸ which provided an added impetus to dm{f©H$ [anmoQ>© Annual Report 2023-24 vii œÏ™¸›¸ ¢ˆÅ¡¸¸. ƒ¬¸ˆ½Å ‚¥¸¸¨¸¸, „œ¸ž¸¸½Æ÷¸¸ ‚¸¾£ ˆÅ¸£¸½¤¸¸£ú ž¸¸¨¸›¸¸‡¿ ž¸ú the manufacturing and services sectors. Furthermore, the consumer and business „÷¬¸¸í¸›¸ˆÅ ¤¸›¸ú £íú¿. sentiments also remained buoyant. ‚¦¬˜¸£ ¨¸¾¢æ¸ˆÅ ¤¸¸{¸¸£ ¦¬˜¸¢÷¸¡¸¸Ê ˆ½Å ¤¸¸¨¸¸»™, ‹¸£½¥¸» ¢¨¸î¸ú¡¸ ¤¸¸{¸¸£ In contrast to the volatile global market conditions, the domestic financial market ˆÅ¸ûÅú ¦¬˜¸£ £í¸. ‚›¸ºˆ»Å¥¸ ›¸ú¢÷¸Š¸÷¸ Ÿ¸¸í¸¾¥¸ ‚¸¾£ ¨¡¸¸œ¸ˆÅ ¬¸¿£¸›¸¸÷Ÿ¸ˆÅ remained fairly stable. India’s banking sector ¬¸ºš¸¸£¸Ê ˆ½Å ¤¸™¸¾¥¸÷¸ Ÿ¸¸¤¸»÷¸ ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ ¤¸º¢›¸¡¸¸™ú ¸¿¸½ ˆ½Å ˆÅ¸£µ¸ continued to remain resilient during the year ž¸¸£÷¸ ˆÅ¸ ¤¸ÿ¢ˆ¿ÅŠ¸ ®¸½°¸ ¨¸«¸Ä ˆ½Å ™¸¾£¸›¸ ¥¸¸ú¥¸¸ ¤¸›¸¸ £í¸. ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ owing to robust macroeconomic fundamentals on the back of conducive policy environment Š¸¢÷¸¢¨¸¢š¸¡¸¸Ê Ÿ¸Ê ¬¸ºš¸¸£ ˆ½Å ¬¸¸˜¸ ¤¸ÿˆÅ †µ¸ Ÿ¸Ê ÷¸½¸ú ¬¸½ ¨¸¼¢Ö íºƒÄ, ¸¸½ and comprehensive structural reforms. ¸Ÿ¸¸£¸¢©¸¡¸¸Ê Ÿ¸Ê ¨¸¼¢Ö ¬¸½ ‚¢š¸ˆÅ í¾. Ÿ¸¸¤¸»÷¸ ÷¸º¥¸›¸-œ¸°¸, œ¸¡¸¸Äœ÷¸ œ¸»¿¸ú Growth in bank credit remained robust with improving macroeconomic activities, ‚¸¾£ ¤¸½í÷¸£ ‚¸¦¬÷¸ Š¸ºµ¸¨¸î¸¸ ¸¾¬¸½ ˆÅƒÄ ˆÅ¸£ˆÅ¸Ê ›¸½ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ Ÿ¸Ê outpacing deposit expansion. Several factors †µ¸ ˆÅú ¤¸õ÷¸ú Ÿ¸¸¿Š¸ ˆÅ¸½ œ¸»£¸ ˆÅ£›¸½ Ÿ¸Ê ¤¸ÿˆÅ¸Ê ˆÅú Ÿ¸™™ ˆÅú. such as stronger balance sheet, adequate capital and improved asset quality aided the ˆÅ¸£¸½¤¸¸£ú £µ¸›¸ú¢÷¸ banks in meeting the expansion in the credit demand in the economy. ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚œ¸›¸½ ŠÏ¸íˆÅ¸Ê ˆÅ¸½ ‚œ¸›¸ú ˆÅ¸£¸½¤¸¸£ú £µ¸›¸ú¢÷¸ ˆ½Å Ÿ¸»¥¸ Ÿ¸Ê Business Strategy £‰¸›¸½ ˆ½Å ¢¥¸‡ œÏ¢÷¸¤¸Ö ¤¸›¸¸ £í¸. ‚œ¸›¸½ ŠÏ¸íˆÅ-ˆÊÅ¢Í÷¸ ˆÅ¸£¸½¤¸¸£ú Your Bank continued to remain committed ´¦«’ˆÅ¸½µ¸ ˆÅ¸½ ‚¸Š¸½ ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡, ¤¸ÿˆÅ ›¸½ ¬¸ž¸ú œ¸¸£¿œ¸¢£ˆÅ ¤¸ÿ¢ˆ¿ÅŠ¸ towards keeping its customers at the core of ¡¸¸½¸›¸¸‡¿ ‚¸¾£ ¬¸½¨¸¸‡¿ ‚¸ÁûÅ£ ˆÅ£›¸½ ˆ½Å ¬¸¸˜¸ íú, ¬¸ž¸ú ¨¸Š¸¸½ô ˆ½Å ‚œ¸›¸½ its business strategy. To further its customer- ŠÏ¸íˆÅ¸Ê ˆÅú „ž¸£÷¸ú ¸³ £÷¸¸Ê ˆÅ¸½ œ¸»£¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ ‚¢ž¸›¸¨¸ ¤¸ÿ¢ˆ¿ÅŠ¸ centric business approach, the Bank, apart from offering an entire bouquet of traditional viii Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ‚¸¾£ ¢›¸¨¸½©¸ ¬¸Ÿ¸¸š¸¸›¸ ž¸ú „œ¸¥¸¤š¸ ˆÅ£¸¡¸½. ¤¸ÿˆÅ ‚œ¸›¸½ ©¸¸‰¸¸ ›¸½’¨¸ˆÄÅ banking products and services, also offered innovative banking and investment solutions ˆÅ¸ ¢¨¸¬÷¸¸£ ˆÅ£›¸½ ‚¸¾£ ‚œ¸›¸ú ¢”¢¸’¥¸ ¬¸º¢¨¸š¸¸‚¸Ê ˆÅ¸½ ¤¸õ¸›¸½ ˆ½Å to cater to the emerging needs of its customers ¢¥¸‡ “¸½¬¸ œÏ¡¸¸¬¸ ˆÅ£ £í¸ í¾, ÷¸¸¢ˆÅ ‚œ¸›¸½ ŠÏ¸íˆÅ¸Ê ˆ½Å ¢¥¸‡ 24x7 across segments. The Bank has been making concerted efforts to expand its branch network ‚¸š¸¸£ œ¸£ ¬¸º¢¨¸š¸¸ ‚¸¾£ œ¸íº¿¸ ¤¸õ¸ƒÄ ¸¸ ¬¸ˆ½Å, ¢¸¬¸¬¸½ ¢›¸¤¸¸Äš¸ ¤¸ÿ¢ˆ¿ÅŠ¸ and augment its digital functionalities to ¥¸½›¸™½›¸ ¬¸º¢›¸¢ä¸÷¸ í¸½ ¬¸ˆÊÅ. ŠÏ¸íˆÅ-ˆÊÅ¢Í÷¸÷¸¸ ˆÅ¸½ ¤¸õ¸¨¸¸ ™½›¸½ ˆ½Å ‚¥¸¸¨¸¸, increase convenience and accessibility for its ¤¸ÿˆÅ ‚¸¦¬÷¸ ‚¸¾£ ™½¡¸÷¸¸, ™¸½›¸¸Ê Ÿ¸¸½¸¸½ô œ¸£ ‚œ¸›¸½ ‰¸º™£¸ ˆÅ¸£¸½¤¸¸£ ˆÅú customers on a 24x7 basis, thereby ensuring seamless banking transactions. In addition to ¢í¬¬¸½™¸£ú ¤¸õ¸ˆÅ£ ‰¸º™ ˆÅ¸½ ‰¸º™£¸-ˆÊÅ¢Í÷¸ ¤¸ÿˆÅ ˆ½Å ³œ¸ Ÿ¸Ê ¬˜¸¸¢œ¸÷¸ promoting customer-centricity, the Bank is also ˆÅ£›¸½ ˆÅú ¢™©¸¸ Ÿ¸Ê ž¸ú ´õ÷¸¸œ¸»¨¸ÄˆÅ ˆÅ¸Ÿ¸ ˆÅ£ £í¸ í¾. ¸í¸¿ ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ working steadfastly towards positioning itself as a retail-focussed entity by augmenting the ‚œ¸›¸ú ‚¸¦¬÷¸ ¤¸íú ˆÅ¸½ ¤¸õ¸›¸½ œ¸£ š¡¸¸›¸ ˆÊÅ¢Í÷¸ ˆÅ£ £í¸ í¾, ¨¸íú¿ ‡ˆÅ share of its retail business both on the asset ¬¸º´õ ÷¸º¥¸›¸-œ¸°¸ ‚¸¾£ Ÿ¸¸¤¸»÷¸ œ¸»¿¸ú ‚¸š¸¸£ ¬¸º¢›¸¢ä¸÷¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ and the liability front. While the focus is on augmenting its asset book, your Bank is also ‚¸¦¬÷¸ Š¸ºµ¸¨¸î¸¸ ˆÅ¸½ ¤¸›¸¸‡ £‰¸›¸½ œ¸£ ž¸ú ¸¸½£ ™½ £í¸ í¾. placing due emphasis on maintaining asset quality to ensure a healthy balance sheet and a robust capital base. ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ ¥¸Š¸¸÷¸¸£ ¸¸¾˜¸½ ¨¸«¸Ä ¥¸¸ž¸ ™¸Ä ¢ˆÅ¡¸¸, Your Bank registered profit for the fourth consecutive year, with each year’s œÏ÷¡¸½ˆÅ ¨¸«¸Ä ˆÅ¸ ˆÅ¸¡¸Ä¢›¸«œ¸¸™›¸ ¢œ¸Ž¥¸½ ¨¸«¸Ä ˆÅú ÷¸º¥¸›¸¸ performance improving over the previous Ÿ¸Ê ¤¸½í÷¸£ íº‚¸. year. Ÿ¸¸¤¸»÷¸ ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ ¤¸º¢›¸¡¸¸™ú ¸¿¸½ ‚¸¾£ ‚›¸ºˆ»Å¥¸ ˆÅ¸£¸½¤¸¸£ú The strong macroeconomic fundamentals and conducive business environment aided Ÿ¸¸í¸¾¥¸ ›¸½ ¤¸ÿˆÅ ˆÅ¸½ ¨¸«¸Ä ˆ½Å ™¸¾£¸›¸ ‚œ¸›¸½ £µ¸›¸ú¢÷¸ˆÅ „Ó½©¡¸¸Ê ˆÅ¸½ œ¸»£¸ the Bank in pursuing its strategic objectives ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ ˆÅú. ƒ¬¸ˆ½Å ‚¥¸¸¨¸¸, ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ™ú‹¸¸Ä¨¸¢š¸ Ÿ¸Ê ¬¸¿š¸¸£µ¸ú¡¸ during the year. Apart from this, your Bank ‚¸¾£ ¥¸¸ž¸™¸¡¸ˆÅ ¢¨¸ˆÅ¸¬¸ ˆÅ¸ Ÿ¸¸Š¸Ä œÏ©¸¬÷¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ ‡ˆÅ Ÿ¸¸¤¸»÷¸ also remained committed towards maintaining a strong risk management framework and a ¸¸½¢‰¸Ÿ¸ œÏ¤¸¿š¸›¸ ¸¿¸¸ ‚¸¾£ ‡ˆÅ ¬¸º´õ ‚›¸ºœ¸¸¥¸›¸ ¬¸¿¬ˆ¼Å¢÷¸ ¤¸›¸¸‡ £‰¸›¸½ robust compliance culture to pave the path ˆ½Å ¢¥¸‡ ž¸ú œÏ¢÷¸¤¸Ö £í¸. for a sustainable and profitable growth path in the long run. dm{f©H$ [anmoQ>© Annual Report 2023-24 ix ¬¸¿¨¸¼¢Ö ‚¸¾£ ¥¸¸ž¸œÏ™÷¸¸ Growth and Profitability Your Bank registered profit for the fourth ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ ¥¸Š¸¸÷¸¸£ ¸¸¾˜¸½ ¨¸«¸Ä ¥¸¸ž¸ ™¸Ä ¢ˆÅ¡¸¸, œÏ÷¡¸½ˆÅ ¨¸«¸Ä ˆÅ¸ consecutive year, with each year’s performance ˆÅ¸¡¸Ä¢›¸«œ¸¸™›¸ ¢œ¸Ž¥¸½ ¨¸«¸Ä ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê ¤¸½í÷¸£ íº‚¸. ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ improving over the previous year. Your Bank ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê ` 5,634 ˆÅ£¸½”õ ˆÅ¸ ¬¸¨¸ÄˆÅ¸¢¥¸ˆÅ „¸÷¸Ÿ¸ registered an all-time high net profit of ` 5,634 crore in FY 2023-24 while registering an ¢›¸¨¸¥¸ ¥¸¸ž¸ ™¸Ä ¢ˆÅ¡¸¸, ¢¸¬¸Ÿ¸Ê ¢œ¸Ž¥¸½ ¨¸«¸Ä ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê 55% ˆÅú annualised growth of 55% over the previous ¨¸¸¢«¸ÄˆÅ ¨¸¼¢Ö ™¸Ä íºƒÄ. ˆÅ¸£¸½¤¸¸£ú Ÿ¸¸½¸½Ä œ¸£, ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê year. On the business front, your Bank’s total ‚¢ŠÏŸ¸ ‚¸¾£ ¸Ÿ¸¸, ™¸½›¸¸Ê Ÿ¸Ê ¨¸¼¢Ö ¬¸½ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆ½Å ˆºÅ¥¸ ˆÅ¸£¸½¤¸¸£ Ÿ¸Ê business improved with both advances and deposits registering growth in FY 2023-24. ¬¸ºš¸¸£ íº‚¸. ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê ˆºÅ¥¸ ˆÅ¸£¸½¤¸¸£ ` 4.66 ¥¸¸‰¸ The total business was at ` 4.66 lakh crore in ˆÅ£¸½”õ í¸½ Š¸¡¸¸, ¢¸¬¸Ÿ¸Ê ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å ` 4.18 ¥¸¸‰¸ FY 2023-24, registering an annual growth of 12% over ` 4.18 lakh crore in FY 2022-23. With ˆÅ£¸½”õ ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê 12% ˆÅú ¨¸¸¢«¸ÄˆÅ ¨¸¼¢Ö ™¸Ä íºƒÄ. ‚¸¦¬÷¸ Š¸ºµ¸¨¸î¸¸ regard to asset quality, the Bank maintained ˆ½Å ¬¸¿¤¸¿š¸ Ÿ¸Ê, ¤¸ÿˆÅ ›¸½ „¸ œÏ¸¨¸š¸¸›¸ ˆÅ¨¸£½¸ ‚›¸ºœ¸¸÷¸ (œ¸ú¬¸ú‚¸£) ¤¸›¸¸‡ a high Provision Coverage Ratio (PCR) and £‰¸¸ ‚¸¾£ ‚œ¸›¸ú ¬¸ˆÅ¥¸ ‚›¸¸ÄˆÅ ‚¸¦¬÷¸¡¸¸Ê (¸ú‡›¸œ¸ú‡) ‡¨¸¿ ¢›¸¨¸¥¸ also undertook concerted efforts to reduce its Gross Non-Performing Assets (GNPAs) and ‚›¸¸ÄˆÅ ‚¸¦¬÷¸¡¸¸Ê (‡›¸‡›¸œ¸ú‡) ˆÅ¸½ ˆÅŸ¸ ˆÅ£›¸½ ‚¸¾£ ¢Š¸£¸¨¸’ ˆÅ¸½ Net Non-Performing Assets (NNPAs) and contain £¸½ˆÅ›¸½ ˆ½Å ¢¥¸‡ “¸½¬¸ œÏ¡¸¸¬¸ ¢ˆÅ‡. slippages. ž¸¢¨¸«¡¸ Ÿ¸Ê ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆÅ¸ ƒ£¸™¸ ‚œ¸›¸ú ‚¿÷¸¢›¸Ä¢í÷¸ Going forward, your Bank intends to leverage its inherent strengths and ©¸¢Æ÷¸¡¸¸Ê ‚¸¾£ ¬¸¸Ÿ¸˜¡¸Ä ˆÅ¸ ¥¸¸ž¸ „“¸›¸¸ í¾ ÷¸¸¢ˆÅ ‚œ¸›¸ú competencies to capitalise on the ¥¸¸ž¸œÏ™÷¸¸ ˆÅ¸½ ‚¸¾£ ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡ „ž¸£÷¸½ ˆÅ¸£¸½¤¸¸£ú emerging business opportunities to ‚¨¸¬¸£¸Ê ˆÅ¸ ûŸ¡¸™¸ „“¸¡¸¸ ¸¸ ¬¸ˆ½Å. further augment its profitability. ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆÅú œ¸»¿¸ú ¦¬˜¸¢÷¸ Ÿ¸Ê ž¸ú ‚¸¾£ ¬¸ºš¸¸£ íº‚¸ ÷¸˜¸¸ ¡¸í Your Bank’s capital position also improved further and remained well above the regulatory ¢¨¸¢›¸¡¸¸Ÿ¸ˆÅ ‚¸¨¸©¡¸ˆÅ÷¸¸‚¸Ê ¬¸½ ˆÅ¸ûÅú …œ¸£ £íú. ˆÅƒÄ ˆÅ¸£ˆÅ¸Ê ¸¾¬¸½ requirements. An optimal mix of several factors, ‚›¸ºˆ»Å¥¸ ˆÅ¸£¸½¤¸¸£ú Ÿ¸¸í¸¾¥¸, ¨¡¸¸œ¸ˆÅ ˆÅ¸£¸½¤¸¸£ú £µ¸›¸ú¢÷¸, ›¸½÷¸¼÷¨¸ ˆÅú such as conducive business environment, ™»£™¢©¸Ä÷¸¸, ˆÅŸ¸Ä¸¸¢£¡¸¸Ê ˆ½Å ‚’»’ ¬¸Ÿ¸¦œ¸Ä·¸ œÏ¡¸¸¬¸ ÷¸˜¸¸ ¢í÷¸š¸¸£ˆÅ¸Ê comprehensive business strategy, vision of the leadership, unwavering dedicated efforts of x Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ˆ½Å ¢¨¸æ¸¸¬¸ ˆ½Å ƒ«’÷¸Ÿ¸ ¢Ÿ¸ªµ¸ ›¸½ ¤¸ÿˆÅ ˆÅ¸½ ‚œ¸›¸½ ˆÅ¸£¸½¤¸¸£ú œÏ™©¸Ä›¸ ‚¸¾£ employees and trust of the stakeholders, aided ¬¸Ÿ¸ŠÏ ¥¸¸ž¸œÏ™÷¸¸ Ÿ¸Ê ¥¸Š¸¸÷¸¸£ ¬¸ºš¸¸£ ˆÅ£›¸½ Ÿ¸Ê ¬¸í¸¡¸÷¸¸ ˆÅú. the Bank in consistently improving its business performance and overall profitability. Ÿ¸º¸½ ¡¸í ¤¸÷¸¸÷¸½ íº‡ œÏ¬¸››¸÷¸¸ í¸½ £íú í¾ ¢ˆÅ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆ½Å ¢›¸™½©¸ˆÅ I am happy to state that the Board of Directors Ÿ¸¿”¥¸ ›¸½ 31 Ÿ¸¸¸Ä 2024 ˆÅ¸½ ¬¸Ÿ¸¸œ÷¸ ¢¨¸î¸ú¡¸ ¨¸«¸Ä ˆ½Å ¢¥¸‡ ¤¸ÿˆÅ ˆ½Å of your Bank have recommended a dividend ` 10 ˆ½Å ‚¿¢ˆÅ÷¸ Ÿ¸»¥¡¸ ¨¸¸¥¸½ œÏ÷¡¸½ˆÅ ƒ¦Æ¨¸’ú ©¸½¡¸£ œ¸£ ` 1.50 ˆ½Å of Rs. 1.50 per Equity Share of face value of Rs. 10 each of the Bank for the financial year ¥¸¸ž¸¸¿©¸ ˆÅú ‚›¸º©¸¿¬¸¸ ˆÅú í¾ ¸¸½ ¨¸¸¢«¸ÄˆÅ Ÿ¸í¸¬¸ž¸¸ Ÿ¸Ê ©¸½¡¸£š¸¸£ˆÅ¸Ê ˆ½Å ended March 31, 2024, subject to approval of ‚›¸ºŸ¸¸½™›¸ ˆ½Å ‚š¸ú›¸ í¾. the shareholders at the Annual General Meeting. ‚¸Š¸½ ˆÅú £¸í Way Forward ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆ½Å ¢¥¸‡ ‡ˆÅ ‚¸¾£ Ÿ¸í÷¨¸œ¸»µ¸Ä ¨¸«¸Ä The financial year 2023–24 was yet another milestone year for your Bank as it continued £í¸, ƒ¬¸›¸½ ¢¨¸¬÷¸¸£, ¥¸¸ž¸œÏ™÷¸¸, œ¸¢£¸¸¥¸›¸ œÏž¸¸¨¸ˆÅ¸¢£÷¸¸, œÏ¸¾Ô¸¸½¢Š¸ˆÅú¡¸ to make steady progress toward its strategic „››¸¡¸›¸ ‚¸¾£ œ¸¡¸¸Ä¨¸£µ¸ ˆ½Å œÏ¢÷¸ ¸¸Š¸³ ˆÅ ¬¸¿¬˜¸¸ ˆÅú ‚¸½£ ¤¸õ›¸½ ˆ½Å ‚œ¸›¸½ objectives of expansion, profitability, operational £µ¸›¸ú¢÷¸ˆÅ „Ó½©¡¸¸Ê ˆÅú ¢™©¸¸ Ÿ¸Ê ¢›¸£¿÷¸£ œÏŠ¸¢÷¸ ¸¸£ú £‰¸ú. ž¸¢¨¸«¡¸ effectiveness, technological advancement and transitioning towards an environmentally Ÿ¸Ê ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆÅ¸ ƒ£¸™¸ ‚œ¸›¸ú ‚¿÷¸¢›¸Ä¢í÷¸ ©¸¢Æ÷¸¡¸¸Ê ‚¸¾£ ¬¸¸Ÿ¸˜¡¸Ä conscious entity. Going forward, your Bank ˆÅ¸ ¥¸¸ž¸ „“¸›¸¸ í¾ ÷¸¸¢ˆÅ ‚œ¸›¸ú ¥¸¸ž¸œÏ™÷¸¸ ˆÅ¸½ ‚¸¾£ ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡ intends to leverage its inherent strengths and „ž¸£÷¸½ ˆÅ¸£¸½¤¸¸£ú ‚¨¸¬¸£¸Ê ˆÅ¸ ûŸ¡¸™¸ „“¸¡¸¸ ¸¸ ¬¸ˆ½Å. ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ competencies to capitalise on the emerging business opportunities to further augment its ‰¸º™£¸-ˆÊÅ¢Í÷¸ ¤¸ÿˆÅ ˆ½Å ³ œ¸ Ÿ¸Ê ‚œ¸›¸ú ‚ž¸ú«’ ¦¬˜¸¢÷¸ ˆÅ¸½ ¤¸›¸¸‡ £‰¸›¸½ profitability. Your Bank will continue to work ˆÅú ¢™©¸¸ Ÿ¸Ê ˆÅ¸¡¸Ä ˆÅ£›¸¸ ¸¸£ú £‰¸½Š¸¸. ƒ¬¸ˆ½Å ‚¥¸¸¨¸¸, ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ towards maintaining its intended positioning ¸º’¸¡¸½ ¸¸ £í½ ˆÅ¸£¸½¤¸¸£ ˆÅú Š¸ºµ¸¨¸î¸¸ ˆÅ¸½ ˆÅŸ¸ ¢ˆÅ‡ ¢¤¸›¸¸ ‚¸¾£ ‚Žú as a retail-centric bank. Furthermore, your Your transactions are safe, just like your secrets Secure transactions with + IDBI Bank Go Mobile+ App. #PehleApp dm{f©H$ [anmoQ>© Annual Report 2023-24 xi Š¸ºµ¸¨¸î¸¸ ¨¸¸¥¸ú ‚¸¦¬÷¸ ¤¸íú ¬¸º¢›¸¢ä¸÷¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ ¬¸¢ÇÅ¡¸ „œ¸¸¡¸ Bank will remain committed to enhancing its business potential by exploring new business ˆÅ£÷¸½ íº‡, ›¸‡ ˆÅ¸£¸½¤¸¸£ú ‚¨¸¬¸£¸Ê ˆÅú ‰¸¸½¸ ˆÅ£ˆ½Å ‚œ¸›¸ú ˆÅ¸£¸½¤¸¸£ú opportunities, without undermining the quality ®¸Ÿ¸÷¸¸ ˆÅ¸½ ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡ œÏ¢÷¸¤¸Ö ¤¸›¸¸ £í½Š¸¸. of business being sourced as also taking proactive measures to ensure good quality ¤¸™¥¸÷¸½ ˆÅ¸£¸½¤¸¸£ú œ¸¢£´©¡¸ ‚¸¾£ ¢¨¸ˆÅ¢¬¸÷¸ í¸½ £íú „œ¸ž¸¸½Æ÷¸¸ asset book. œÏ¸˜¸¢Ÿ¸ˆÅ÷¸¸‚¸Ê ˆÅ¸½ š¡¸¸›¸ Ÿ¸Ê £‰¸÷¸½ íº‡, ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚œ¸›¸ú ž¸¸¾Š¸¸½¢¥¸ˆÅ In keeping with the changing business landscape and evolving consumer preferences, your œ¸íº¿¸ ˆÅ¸ ¢¨¸¬÷¸¸£ ˆÅ£÷¸½ íº‡ ‚œ¸›¸ú ¡¸¸½¸›¸¸‚¸Ê ‚¸¾£ ¬¸½¨¸¸‚¸Ê ˆÅú œ¸½©¸ˆÅ©¸ Bank will continue to broad-base its products ˆÅ¸½ ¨¡¸¸œ¸ˆÅ ¤¸›¸¸›¸¸ ¸¸£ú £‰¸½Š¸¸ ‚¸¾£ ¬¸¸˜¸ íú, ‚œ¸›¸ú œ¸½©¸ˆÅ©¸¸Ê ˆÅ¸½ and services offering while expanding its ÷¨¸¢£÷¸, ˆºÅ©¸¥¸, ¬¸º£¢®¸÷¸ ‚¸¾£ ¢›¸¤¸¸Äš¸ ÷¸£úˆ½Å ¬¸½ œ¸íº¿¸¸›¸½ ˆ½Å ¢¥¸‡ geographical reach as also embracing latest technological innovations to deliver its offerings ›¸¨¸ú›¸÷¸Ÿ¸ œÏ¸¾Ô¸¸½¢Š¸ˆÅú¡¸ ›¸¨¸¸¸¸£¸Ê ˆÅ¸½ ‚œ¸›¸¸÷¸¸ £í½Š¸¸. ƒ¬¸ ¢™©¸¸ Ÿ¸Ê, in a quick, efficient, secure and seamless manner. ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚œ¸›¸ú ¢”¢¸’¥¸ ¤¸º¢›¸¡¸¸™ú ¬¸¿£¸›¸¸ ˆÅ¸½ Ÿ¸¸¤¸»÷¸ ˆÅ£›¸¸ Towards this end, your Bank will continue to ¸¸£ú £‰¸½Š¸¸ ‚¸¾£ ‚œ¸›¸ú œÏ¢÷¸¬œ¸š¸¸Ä÷Ÿ¸ˆÅ ¤¸õ÷¸ ˆÅ¸½ ¤¸›¸¸‡ £‰¸›¸½ ÷¸˜¸¸ strengthen its digital infrastructure and increase its investment in technological upgradation to ‚œ¸›¸ú œ¸¢£¸¸¥¸›¸ ™®¸÷¸¸ ˆÅ¸½ ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡ œÏ¸¾Ô¸¸½¢Š¸ˆÅú¡¸ „››¸¡¸›¸ Ÿ¸Ê maintain its competitive edge and enhance its ‚œ¸›¸½ ¢›¸¨¸½©¸ ˆÅ¸½ ¤¸õ¸‡Š¸¸. ƒ¬¸ˆ½Å ‚¢÷¸¢£Æ÷¸, ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚œ¸›¸½ operational efficiency. Additionally, your Bank ¬¸ž¸ú ˆÅ¸£¸½¤¸¸£ú ‚¸¾£ ¬¸í¸¡¸ˆÅ ˆÅ¸¡¸¸½ô Ÿ¸Ê ¤¸½í÷¸£ ‚¢ž¸©¸¸¬¸›¸, ¸¸½¢‰¸Ÿ¸ will emphasise on continued focus on robust governance, risk and compliance practices ‚¸¾£ ‚›¸ºœ¸¸¥¸›¸ œ¸Ö¢÷¸¡¸¸Ê œ¸£ ¢›¸£¿÷¸£ š¡¸¸›¸ ˆÊÅ¢Í÷¸ ˆÅ£›¸½ œ¸£ ¸¸½£ across all its business and support functions ™½Š¸¸, ÷¸¸¢ˆÅ ‚œ¸›¸½ ¬¸ž¸ú ¢í÷¸š¸¸£ˆÅ¸Ê ˆ½Å ¤¸ú¸ ¬¸¨¸¸Ä¢š¸ˆÅ œ¸¬¸¿™ú™¸ ‚¸¾£ in order to re-validate its status as the most ¢¨¸æ¸¬¸›¸ú¡¸ ¤¸ÿˆÅ ˆ½Å ³ œ¸ Ÿ¸Ê ‚œ¸›¸ú ¦¬˜¸¢÷¸ ˆÅ¸½ œ¸º›¸À œÏŸ¸¸¢µ¸÷¸ ˆÅ£ ¬¸ˆ½Å. preferred and trusted bank among all its stakeholders. ‚¸ž¸¸£ œÏ™©¸Ä›¸ Expression of Gratitude ‚¸ƒÄ”ú¤¸ú‚¸ƒÄ ¤¸ÿˆÅ ˆ½Å ¢›¸™½©¸ˆÅ Ÿ¸¿”¥¸ ˆÅú ‚¸½£ ¬¸½, Ÿ¸ÿ ž¸¸£÷¸ ¬¸£ˆÅ¸£, On behalf of the Board of Directors of IDBI Bank, I would like to express my sincere thanks to ž¸¸£÷¸ú¡¸ ¢£{¸¨¸Ä ¤¸ÿˆÅ ‚¸¾£ ‚›¡¸ ¬¸ž¸ú ¬¸¸¿¢¨¸¢š¸ˆÅ ‡¨¸¿ ¢¨¸¢›¸¡¸¸Ÿ¸ˆÅ the Government of India, the Reserve Bank of œÏ¸¢š¸ˆÅ¸¢£¡¸¸Ê ˆÅ¸½ „›¸ˆ½Å ¬¸÷¸÷¸ ¬¸í¡¸¸½Š¸ ‚¸¾£ Ÿ¸¸Š¸Ä™©¸Ä›¸ ˆ½Å ¢¥¸‡ í¸¢™ÄˆÅ India and all the other statutory & regulatory š¸›¡¸¨¸¸™ ™½›¸¸ ¸¸í÷¸¸ í»¿. Ÿ¸ÿ ©¸½¡¸£š¸¸£ˆÅ¸Ê ‚¸¾£ ŠÏ¸íˆÅ¸Ê ˆÅ¸½ „›¸ˆ½Å ¬¸÷¸÷¸ authorities for their continued support and guidance. I would also like to extend my ¬¸¿£®¸µ¸, ¢›¸£¿÷¸£ ¬¸Ÿ¸˜¸Ä›¸ ‚¸¾£ ¬¸í¡¸¸½Š¸ ˆ½Å ¢¥¸‡ ‚œ¸›¸¸ ‚¸ž¸¸£ ¨¡¸Æ÷¸ gratitude to shareholders and customers for ˆÅ£›¸¸ ¸¸í»ÂŠ¸¸. ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚¸œ¸ˆ½Å ¢›¸£¿÷¸£ ž¸£¸½¬¸½ ‚¸¾£ ¢¨¸æ¸¸¬¸ ˆÅ¸ their unstinted patronage, sustained support xii Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ‚¸™£ ˆÅ£÷¸¸ í¾ ‚¸¾£ ‚¸œ¸ˆÅú ‚œ¸½®¸¸‚¸Ê œ¸£ ‰¸£¸ „÷¸£›¸½ ˆ½Å ¢¥¸‡ and co-operation. Your Bank values your œ¸»£ú ¥¸Š¸›¸ ¬¸½ ˆÅ¸¡¸Ä ˆÅ£÷¸¸ £í½Š¸¸. Ÿ¸ÿ ¤¸ÿˆÅ ˆ½Å ¢›¸™½©¸ˆÅ Ÿ¸¿”¥¸ ˆ½Å ‚œ¸›¸½ continued trust and confidence and shall continue to work assiduously to live up to your ¬¸í¡¸¸½¢Š¸¡¸¸Ê ˆÅ¸½ ¤¸ÿˆÅ ˆ½Å ‚¢ž¸©¸¸¬¸›¸ ‡¨¸¿ ˆÅ¸£¸½¤¸¸£ ¬¸¿¨¸š¸Ä›¸ ˆÅú ¢™©¸¸ expectations. I would also like to convey my Ÿ¸Ê „›¸ˆÅú ™»£™¢©¸Ä÷¸¸ ‚¸¾£ ¤¸íºŸ¸»¥¡¸ ¡¸¸½Š¸™¸›¸ ˆ½Å ¢¥¸‡ ᙡ¸ ¬¸½ ¬¸£¸í›¸¸ sincere appreciation to my colleagues on the ˆÅ£÷¸¸ í»¿. ‚¿÷¸ Ÿ¸Ê, Ÿ¸ÿ ¤¸ÿˆÅ ˆ½Å ©¸ú«¸Ä œÏ¤¸¿š¸›¸ ‚¸¾£ ¬¸ž¸ú ˆÅŸ¸Ä¸¸¢£¡¸¸Ê ˆ½Å Bank’s Board for their vision and invaluable contribution towards driving the Bank’s ‚’»’ ¬¸Ÿ¸œ¸Äµ¸ ‚¸¾£ œÏ¢÷¸¤¸Ö÷¸¸ ˆ½Å ¢¥¸‡ ‚œ¸›¸¸ ‚¸ž¸¸£ ¨¡¸Æ÷¸ ˆÅ£›¸¸ governance and business growth. Last but not ¸¸í»ÂŠ¸¸ ¢¸›í¸Ê›¸½ ¸º›¸¸¾÷¸úœ¸»µ¸Ä ˆÅ¸£¸½¤¸¸£ú ‚¸¾£ œ¸¢£¸¸¥¸›¸Š¸÷¸ Ÿ¸¸í¸¾¥¸ ˆ½Å the least, I would like to express my gratitude to ¤¸¸¨¸¸»™ ¤¸ÿˆÅ ˆÅ¸½ ‚œ¸›¸½ ¬¸Ÿ¸ŠÏ ˆÅ¸£¸½¤¸¸£ú ¥¸®¡¸¸Ê ˆÅ¸½ í¸¢¬¸¥¸ ˆÅ£›¸½ ˆÅ¸ the Top Management and all employees of the Bank for exhibiting their unwavering dedication Ÿ¸¸Š¸Ä œÏ©¸¬÷¸ ¢ˆÅ¡¸¸ ‚¸¾£ ›¸ƒÄ …¿¸¸ƒ¡¸¸Ê ˆÅ¸½ Ž»‚¸. and commitment that paved the way for the Bank to achieve its overall business objective Ÿ¸ÿ ž¸¸£÷¸ú¡¸ ¤¸ÿ¢ˆ¿ÅŠ¸ ®¸½°¸ Ÿ¸Ê ¬¸¨¸¸Ä¢š¸ˆÅ œ¸¬¸¿™ú™¸ ‚¸¾£ ¢¨¸æ¸¬¸›¸ú¡¸ ¤¸ÿˆÅ ˆ½Å and scale new heights in spite of the challenging ³ œ¸ Ÿ¸Ê ‰¸º™ ˆÅ¸½ ¬˜¸¸¢œ¸÷¸ ˆÅ£ ‚œ¸›¸½ ¬¸ž¸ú ¢í÷¸š¸¸£ˆÅ¸Ê ˆ½Å ¢¥¸‡ Ÿ¸»¥¡¸ business and operating environment. ¬¸¿¨¸š¸Ä›¸ ˆ£›¸½ ˆÅú ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆÅú œÏ¢÷¸¤¸Ö÷¸¸ ˆÅ¸½ ™¸½í£¸›¸¸ ¸¸í»¿Š¸¸. I would like to reiterate your Bank’s commitment to enhance the value for all its stakeholders by establishing itself as the most preferred and trusted bank in the Indian banking space. ©¸ºž¸ˆÅ¸Ÿ¸›¸¸‚¸Ê ¬¸¢í÷¸, With best wishes, T. N. Manoharan ’ú. ‡›¸. Ÿ¸›¸¸½í£›¸ Chairman ‚š¡¸®¸ There is one for everyone SAVINGS ACCOUNTS FOR ALL Choose the Savings Account that suits your needs with IDBI Bank. dm{f©H$ [anmoQ>© Annual Report 2023-24 xiii  à~§Y {ZXoeH$ Ed§ grB©Amo H$m g§Xoe Message from the Managing Director & CEO ‡ˆÅ Ÿ¸¸¤¸»÷¸ ÷¸º¥¸›¸-œ¸°¸, œ¸¡¸¸Äœ÷¸ œ¸»¿¸ú ‚¸¾£ ¥¸¸ž¸™¸¡¸ˆÅ Maintaining a robust balance sheet, ˆÅ¸£¸½¤¸¸£ú ¬¸Ÿ¸¼¹Ö ˆÅ¸½ ¤¸›¸¸‡ £‰¸›¸¸ ¤¸ÿˆÅ ˆÅú œÏŸ¸º‰¸ healthy capital and profitable business œÏ¸˜¸¢Ÿ¸ˆÅ÷¸¸‡Â ¤¸›¸ú £íú¿. growth continued to remain the key priorities for the Bank. amHo$e e‘m© Rakesh Sharma à~§Y {ZXoeH$ Ed§ grB©Amo Managing Director & CEO xiv Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ¢œÏ¡¸ ©¸½¡¸£š¸¸£ˆÅ¸½, Dear Shareholders, ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 ˆ½Å ™¸¾£¸›¸ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆ½Å ˆÅ¸¡¸Ä-¢›¸«œ¸¸™›¸ ˆÅú It gives me immense pleasure to place before Ÿ¸º‰¡¸ ¤¸¸÷¸¸Ê ˆÅ¸½ ‚¸œ¸ˆ½Å ¬¸Ÿ¸®¸ £‰¸÷¸½ íº‡ Ÿ¸º¸½ ‚÷¡¸¢š¸ˆÅ œÏ¬¸››¸÷¸¸ you the highlights of your Bank's performance during FY 2023-24. While the achievements and í¸½ £íú í¾. ¡¸Ô¸¢œ¸ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆÅú „œ¸¥¸¦¤š¸¡¸¸Ê ‚¸¾£ œ¸í¥¸ˆÅ¸¡¸¸½ô ˆÅ¸ initiatives taken by your Bank are described in ¨¸µ¸Ä›¸ ¨¸¸¢«¸ÄˆÅ ¢£œ¸¸½’Ä Ÿ¸Ê ¢¨¸¬÷¸¸£ ¬¸½ ¢ˆÅ¡¸¸ Š¸¡¸¸ í¾, Ÿ¸ÿ ‚¸œ¸ˆÅ¸ š¡¸¸›¸ detail in the Annual Report, I would like to draw ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê ¤¸ÿˆÅ ˆ½Å ˆÅ¸¡¸Ä¢›¸«œ¸¸™›¸ ˆÅú ˆºÅŽ Ÿ¸º‰¡¸ ¤¸¸÷¸¸Ê your attention to some of the key highlights of ˆÅú ‚¸½£ ‚¸ˆÅ¢«¸Ä÷¸ ˆÅ£›¸¸ ¸¸í»¿Š¸¸. the Bank’s performance in FY 2023-24. Macroeconomic Overview ¬¸Ÿ¸¢«’ ‚¸¢˜¸ÄˆÅ ¢¨¸í¿Š¸¸¨¸¥¸¸½ˆÅ›¸ The global economy continued to post healthy ¨¸¾¢æ¸ˆÅ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ ›¸½ 2023 Ÿ¸Ê ¬¸º´õ ¢¨¸ˆÅ¸¬¸ ™¸Ä ˆÅ£›¸¸ ¸¸£ú growth in 2023, reflecting gradual recovery £‰¸¸, ¸¸½ Ÿ¸í¸Ÿ¸¸£ú ¬¸½ š¸ú£½-š¸ú£½ „¤¸£›¸½ ˆÅ¸½ ™©¸¸Ä÷¸¸ í¾. ƒ¬¸ œ¸¼«“ž¸»¢Ÿ¸ from the pandemic. In this backdrop, the Ÿ¸Ê, ž¸¸£÷¸ú¡¸ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ ›¸½ ›¸ú¢÷¸Š¸÷¸ ¬¸ºš¸¸£¸Ê ‚¸¾£ ¬¸¿£¸›¸¸÷Ÿ¸ˆÅ Indian economy exhibited resilience, aided by policy reforms and structural changes, which œ¸¢£¨¸÷¸Ä›¸¸Ê ˆÅú ¬¸í¸¡¸÷¸¸ ¬¸½ ¥¸¸ú¥¸¸œ¸›¸ œÏ™¢©¸Ä÷¸ ¢ˆÅ¡¸¸, ¢¸¬¸›¸½ ¬¸º¢›¸¢ä¸÷¸ ensured that consumption and investment ¢ˆÅ¡¸¸ ¢ˆÅ ‰¸œ¸÷¸ ‚¸¾£ ¢›¸¨¸½©¸ ˆÅú Ÿ¸¸¿Š¸ ‚Žú ¤¸›¸ú £íú. ¤¸ÿ¢ˆ¿ÅŠ¸ ®¸½°¸ ›¸½ demand remained healthy. The banking sector played a vital role in driving the economic ¤¸½í÷¸£ ‚¸¦¬÷¸ Š¸ºµ¸¨¸î¸¸, ¥¸¸ž¸œÏ™÷¸¸ ‚¸¾£ œ¸»¿¸ú œ¸¡¸¸Äœ÷¸÷¸¸ ˆ½Å ‚¸š¸¸£ momentum by meeting the increased credit œ¸£ ¤¸õú íºƒÄ †µ¸ Ÿ¸¸¿Š¸ ˆÅ¸½ œ¸»£¸ ˆÅ£ˆ½Å ‚¸¢˜¸ÄˆÅ Š¸¢÷¸ ˆÅ¸½ ‚¸Š¸½ ¤¸õ¸›¸½ Ÿ¸Ê demand on the back of improved asset Ÿ¸í÷¨¸œ¸»µ¸Ä ž¸»¢Ÿ¸ˆÅ¸ ¢›¸ž¸¸ƒÄ. ™£¸Ê Ÿ¸Ê ¤¸õ¸½÷¸£ú ˆÅ¸½ £¸½ˆÅ›¸½ ˆ½Å ¢£{¸¨¸Ä ¤¸ÿˆÅ quality, profitability and capital adequacy. The RBI's decision to pause rate hikes precluded ˆ½Å û¾Å¬¸¥¸½ ›¸½ „š¸¸£ ™£¸Ê Ÿ¸Ê ¢ˆÅ¬¸ú ž¸ú Ÿ¸í÷¨¸œ¸»µ¸Ä ¡¸¸ ÷¸½¸ ¨¸¼¢Ö ˆÅ¸½ £¸½ˆÅ any significant or sharp rise in the lending ¢™¡¸¸, ¢¸¬¸¬¸½ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ Ÿ¸Ê †µ¸ ˆÅú Ÿ¸¸¿Š¸ ˆÅ¸½ ¤¸õ¸¨¸¸ ¢Ÿ¸¥¸¸. ¤¸ÿˆÅ¸Ê rates, encouraging credit demand in the ›¸½ ž¸ú ¤¸õ÷¸ú †µ¸ ¸³£÷¸¸Ê ˆÅ¸½ œ¸»£¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ ‚œ¸›¸ú ¸Ÿ¸¸£¸¢©¸¡¸¸Ê economy. Banks also boosted their deposits to meet the growing credit needs. Improved ˆÅ¸½ ¤¸õ¸¡¸¸. ¤¸½í÷¸£ ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ ¦¬˜¸¢÷¸¡¸¸Ê ‚¸¾£ ¬¸¿£¸›¸¸÷Ÿ¸ˆÅ macroeconomic conditions and structural ¬¸ºš¸¸£¸Ê ›¸½ ž¸ú ¤¸ÿˆÅ¸Ê ˆ½Å ¢¥¸‡ „¸ ¥¸¸ž¸œÏ™÷¸¸ í¸¢¬¸¥¸ ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ reforms also helped in achieving higher ˆÅú, ¢¸¬¸¬¸½ ‚¸¢˜¸ÄˆÅ ¢¨¸ˆÅ¸¬¸ ˆÅ¸½ ‚¢÷¸¢£Æ÷¸ Š¸¢÷¸ ¢Ÿ¸¥¸ú. profitability for banks, providing an added impetus to the economic growth. ˆÅ¸£¸½¤¸¸£ú £µ¸›¸ú¢÷¸ Business Strategy ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ £µ¸›¸ú¢÷¸ˆÅ ˆÅ¸£¸½¤¸¸£ ´¦«’ˆÅ¸½µ¸ ¤¸›¸¸‡ £‰¸¸, ¢¸¬¸¬¸½ „¬¸½ Your Bank maintained a strategic business approach that allowed it to take advantage ‚¨¸¬¸£¸Ê ˆÅ¸ ¥¸¸ž¸ „“¸›¸½ ‚¸¾£ ¤¸¸š¸¸‚¸Ê ˆÅ¸½ ™»£ ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ ¢Ÿ¸¥¸ú. of opportunities and overcome obstacles. ‡ˆÅ Ÿ¸¸¤¸»÷¸ ÷¸º¥¸›¸-œ¸°¸, œ¸¡¸¸Äœ÷¸ œ¸»¿¸ú ‚¸¾£ ¥¸¸ž¸™¸¡¸ˆÅ ˆÅ¸£¸½¤¸¸£ú Maintaining a robust balance sheet, healthy ¬¸Ÿ¸¼¹Ö ˆÅ¸½ ¤¸›¸¸‡ £‰¸›¸¸ ¤¸ÿˆÅ ˆÅú œÏŸ¸º‰¸ œÏ¸˜¸¢Ÿ¸ˆÅ÷¸¸‡Â ¤¸›¸ú £íú¿. ƒ¬¸ capital and profitable business growth dm{f©H$ [anmoQ>© Annual Report 2023-24 xv ¢™©¸¸ Ÿ¸Ê, ¤¸ÿˆÅ ›¸½ ‚œ¸›¸ú ˆÅŸ¸ ¥¸¸Š¸÷¸ ¨¸¸¥¸ú ¸Ÿ¸¸£¸¢©¸¡¸¸Ê ¸¾¬¸½ ¸¸¥¸» continued to remain the key priorities for the ‰¸¸÷¸¸ ‚¸¾£ ¤¸¸÷¸ ‰¸¸÷¸¸ ¸Ÿ¸¸£¸¢©¸¡¸¸Ê ˆÅ¸½ ¤¸õ¸›¸½ ˆÅ¸ œÏ¡¸¸¬¸ ¢ˆÅ¡¸¸, Bank. Towards this end, the Bank strived to scale up its low-cost deposits, viz. Current Account ¬¸¸˜¸ íú ‚œ¸›¸ú ¸Ÿ¸¸£¸¢©¸ ¸º’¸›¸½ ˆÅú £µ¸›¸ú¢÷¸ ˆ½Å ‡ˆÅ ¢í¬¬¸½ ˆ½Å ³œ¸ and Savings Account deposits, as also focussed Ÿ¸Ê ‰¸º™£¸ Ÿ¸ú¡¸¸™ú ¸Ÿ¸¸£¸¢©¸¡¸¸¿ ‚¸¾£ ˜¸¸½ˆÅ ¸Ÿ¸¸£¸¢©¸¡¸¸¿ ¸º’¸›¸½ œ¸£ on garnering retail term deposits and bulk ž¸ú š¡¸¸›¸ ˆÊÅ¢Í÷¸ ¢ˆÅ¡¸¸. ¤¸ÿˆÅ ›¸½ ‰¸º™£¸ ‡¨¸¿ ¬¸º¢¨¸©¸¸‰¸úˆ¼Å÷¸ ‚¸¦¬÷¸ deposits as a part of its deposit mobilisation strategy. The Bank continued to focus on œ¸¸½’ÄûŸ½¢¥¸¡¸¸½ ¤¸›¸¸¡¸½ £‰¸›¸½ œ¸£ š¡¸¸›¸ ˆ½Å¦›Í÷¸ £‰¸¸, ¸¸½ ‰¸º™£¸, ˆ¼Å¢«¸ maintaining a granular and well-diversified ‚¸¾£ ‡Ÿ¸‡¬¸‡Ÿ¸ƒÄ (‚¸£‡‡Ÿ¸) ‰¸¿”¸Ê ˆ½Å ¬¸¸˜¸-¬¸¸˜¸ ‚Žú £½¢’¿Š¸ asset portfolio that saw it lending to Retail, Agriculture & MSME (RAM) segments as well as ¨¸¸¥¸ú ˆ¿Åœ¸¢›¸¡¸¸Ê ˆÅ¸½ †µ¸ ™½›¸½ Ÿ¸Ê ¢™‰¸¸. ž¸¸£÷¸ú¡¸ ¸ú¨¸›¸ ¤¸úŸ¸¸ ¢›¸Š¸Ÿ¸ well-rated corporates. As a result of the business (‡¥¸‚¸ƒÄ¬¸ú) ˆ½Å ¬¸¸˜¸ ‚œ¸›¸½ ¬¸¿¤¸¿š¸¸Ê ׸£¸ ¬¸¼¢¸÷¸ ˆÅ¸£¸½¤¸¸£ú ÷¸¸¥¸Ÿ¸½¥¸ synergies created by its relationship with Life ˆ½Å œ¸¢£µ¸¸Ÿ¸¬¨¸³œ¸ ¤¸ÿˆÅ ˆÅ¸½ ˆÅ¸£¸½¤¸¸£ Ÿ¸Ê ¨¸¼¢Ö ‚¸¾£ ©¸º¥ˆÅ ‚¸¡¸ ¬¸½ Insurance Corporation of India (LIC), the Bank continued to gain from business growth and fee ¥¸¸ž¸ ¢Ÿ¸¥¸›¸¸ ¸¸£ú £í¸. ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ ‚Žú Š¸ºµ¸¨¸î¸¸ ¨¸¸¥¸½ ‚¸¦¬÷¸ income. Your Bank continued to prioritise good œ¸¸½’ÄûŸ½¢¥¸¡¸¸½ ˆÅ¸½ œÏ¸˜¸¢Ÿ¸ˆÅ÷¸¸ ™½›¸¸ ¸¸£ú £‰¸¸, ¢¸¬¸ˆ½Å ¢¥¸‡ ƒ¬¸›¸½ ¢œ¸Ž¥¸½ quality asset portfolio, for which, it has taken ˆºÅŽ ¨¸«¸¸½ô Ÿ¸Ê ¢Š¸£¸¨¸’ ˆÅ¸½ ›¡¸»›¸÷¸Ÿ¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ ˆÅƒÄ ˆÅ™Ÿ¸ „“¸‡ a number of steps over the years to minimise slippages as also adopted a rigorous approach íÿ ‚¸¾£ ¬¸¸˜¸ íú ‚œ¸›¸ú ‚›¸¸ÄˆÅ ‚¸¦¬÷¸¡¸¸Ê ¬¸½ ¨¸¬¸»¥¸ú ‚¸¾£ „››¸¡¸›¸ towards recovery and upgradation of its non- ˆ½Å ¢¥¸‡ ‡ˆÅ ¬¸‰÷¸ ´¦«’ˆÅ¸½µ¸ ‚œ¸›¸¸¡¸¸ í¾. ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ˆÅ¸£¸½¤¸¸£ú performing assets. Your Bank, in addition to the œ¸í¥¸ˆÅ¸¡¸¸½ô ˆ½Å ‚¥¸¸¨¸¸, ‚œ¸›¸ú œ¸¢£¸¸¥¸›¸ ™®¸÷¸¸ Ÿ¸Ê ¬¸ºš¸¸£ ˆ½Å ¢¥¸‡ business initiatives, has also been taking various measures towards technological upgradation ÷¸ˆÅ›¸úˆÅú „››¸¡¸›¸ ‚¸¾£ ‚¢š¸ˆÅ Ÿ¸¸°¸¸ Ÿ¸Ê ¢”¢¸’¥¸úˆÅ£µ¸ ˆÅú ¢™©¸¸ Ÿ¸Ê and greater degree of digitalisation to improve ž¸ú ˆÅƒÄ ˆÅ™Ÿ¸ „“¸÷¸¸ £í¸ í¾. ƒ¬¸ˆ½Å ‚¥¸¸¨¸¸, ¤¸ÿˆÅ ‚›¸ºœ¸¸¥¸›¸-¬¸¿¸¸¢¥¸÷¸ its operational efficiency. Furthermore, the Bank ˆÅ¸¡¸Ä ¬¸¿¬ˆ¼Å¢÷¸ œ¸£ ¥¸Š¸¸÷¸¸£ ‚¢š¸ˆÅ š¡¸¸›¸ ˆÊÅ¢Í÷¸ ˆÅ£÷¸¸ £í¸ í¾ ¸¸½ has been increasingly focussing on a compliance- driven work culture that prioritises robust Ÿ¸¸¤¸»÷¸ ¸¸½¢‰¸Ÿ¸ œÏ¤¸¿š¸›¸ ‚¸¾£ ‚¢ž¸©¸¸¬¸›¸ œÏ˜¸¸‚¸Ê ˆÅ¸½ œÏ¸˜¸¢Ÿ¸ˆÅ÷¸¸ risk management and governance practices. xvi Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ™½÷¸ú í¾. ‚œ¸›¸½ Ÿ¸»¥¸ž¸»÷¸ ˆÅ¸£¸½¤¸¸£ Ÿ¸¸Á”¥¸ ˆÅ¸½ Ÿ¸¸¤¸»÷¸ ˆÅ£›¸½ ˆ½Å ‚œ¸›¸½ Complementing its strategic objectives to £µ¸›¸ú¢÷¸ˆÅ „Ó½©¡¸¸Ê ˆÅ¸½ œ¸»£¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡, ¤¸ÿˆÅ ‚œ¸›¸½ ŠÏ¸íˆÅ-ˆÊÅ¢Í÷¸ strengthen its inherent business model, the Bank has been focussing on ensuring highest œ¸í¥¸ˆÅ¸¡¸¸½ô ˆ½Å Ÿ¸¸š¡¸Ÿ¸ ¬¸½ ŠÏ¸íˆÅ ¬¸¿÷¸º¦«’ ˆ½Å „¸÷¸Ÿ¸ ¬÷¸£ ˆÅ¸½ ¬¸º¢›¸¢ä¸÷¸ level of customer satisfaction through its ˆÅ£›¸½ œ¸£ š¡¸¸›¸ ˆÊÅ¢Í÷¸ ˆÅ£ £í¸ í¾, ¢¸¬¸Ÿ¸Ê ƒ¬¸ˆ½Å ©¸¸‰¸¸ ›¸½’¨¸ˆÄÅ ˆÅ¸ customer-centric initiatives, which included ¢¨¸¬÷¸¸£ ‚¸¾£ ‡ˆÅ ¢›¸¤¸¸Äš¸ ¤¸íº-¸¾›¸¥¸ ‚›¸ºž¸¨¸ œÏ™¸›¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ expansion of its branch network and improving its digital functionalities to offer a seamless ‚œ¸›¸ú ¢”¢¸’¥¸ ˆÅ¸¡¸Ä®¸Ÿ¸÷¸¸‚¸Ê Ÿ¸Ê ¬¸ºš¸¸£ ˆÅ£›¸¸ ©¸¸¢Ÿ¸¥¸ í¾. multi-channel experience. ¨¸«¸Ä ˆ½Å ™¸¾£¸›¸ ¤¸ÿˆÅ ׸£¸ ¢¨¸¢ž¸››¸ ˆÅ¸¡¸Ä ®¸½°¸¸Ê Ÿ¸Ê ¢ˆÅ¡¸½ Š¸¡¸½ ¢¨¸¢ž¸››¸ Various strategic initiatives across functionalities £µ¸›¸ú¢÷¸ˆÅ œ¸í¥¸ˆÅ¸¡¸¸½ô ˆ½Å ¤¸¸£½ Ÿ¸Ê ¨¸¸¢«¸ÄˆÅ ¢£œ¸¸½’Ä ˆ½Å ¢›¸™½©¸ˆÅ¸Ê ˆÅú ¢£œ¸¸½’Ä that were taken by the Bank during the year have been discussed in detail in the Directors’ ‚¸¾£ œÏ¤¸¿š¸›¸ ¢¨¸¨¸½¸›¸¸ ‡¨¸¿ ¢¨¸©¥¸½«¸µ¸ ‰¸¿”¸Ê Ÿ¸Ê ¢¨¸¬÷¸¸£ ¬¸½ ¸¸¸Ä ˆÅú Š¸ƒÄ Report and Management Discussion & Analysis í¾. Ÿ¸º¸½ ¡¸í ¤¸÷¸¸÷¸½ íº‡ ¤¸½í™ ‰¸º©¸ú í¸½ £íú í¾ ¢ˆÅ £µ¸›¸ú¢÷¸ˆÅ œÏ¡¸¸¬¸¸Ê sections of the Annual Report. I am immensely ¬¸½ ¤¸ÿˆÅ ˆÅ¸½ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê ‚œ¸›¸ú œ¸¢£¸¸¥¸›¸ ‚¸¾£ ¢¨¸î¸ú¡¸ pleased to state that the strategic endeavours helped the Bank to post notable gains in its ¦¬˜¸¢÷¸ Ÿ¸Ê „¥¥¸½‰¸›¸ú¡¸ ¬¸ºš¸¸£ ™¸Ä ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ ¢Ÿ¸¥¸ú í¾, ¢¸›¸Ÿ¸Ê ¬¸½ operational and financial standing in FY 2023-24, ˆºÅŽ œ¸£ Ÿ¸ÿ œÏˆÅ¸©¸ ”¸¥¸›¸¸ ¸¸í»¿Š¸¸. some of which I would like to highlight. Ÿ¸º¸½ œ¸»£¸ ¢¨¸æ¸¸¬¸ í¾ ¢ˆÅ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆ½Å œ¸¸¬¸ ¢ˆÅ¬¸ú I am confident that your Bank has the right strategy and capabilities to surmount any ž¸ú ¸º›¸¸¾÷¸ú ¬¸½ ¢›¸œ¸’›¸½ ‚¸¾£ ÷¸½¸ú ¬¸½ ¢¨¸ˆÅ¢¬¸÷¸ í¸½ £í½ challenges and seize any opportunities œ¸¢£¸¸¥¸›¸ œ¸¢£¨¸½©¸ Ÿ¸Ê ¢ˆÅ¬¸ú ž¸ú ‚¨¸¬¸£ ˆÅ¸½ ž¸º›¸¸›¸½ ˆ½Å in the rapidly evolving operational ¢¥¸‡ ¬¸íú £µ¸›¸ú¢÷¸ ‚¸¾£ ®¸Ÿ¸÷¸¸‡¿ íÿ. environment. ¢¨¸î¸ú¡¸ ‡¨¸¿ œ¸¢£¸¸¥¸›¸Š¸÷¸ ¢¨¸©¸½«¸÷¸¸‡¿ Financial and Operational Highlights ˆÅ¸£¸½¤¸¸£ú Ÿ¸¸½¸½Ä œ¸£, ¤¸ÿˆÅ ˆÅ¸ ˆºÅ¥¸ ˆÅ¸£¸½¤¸¸£ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê On the business front, the Bank’s total business ¤¸õˆÅ£ `4.66 ¥¸¸‰¸ ˆÅ£¸½”õ í¸½ Š¸¡¸¸, ¢¸¬¸Ÿ¸Ê ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 improved to ` 4.66 lakh crore in FY 2023-24, registering an annualised growth of 12% over ˆ½Å ` 4.18 ¥¸¸‰¸ ˆÅ£¸½”õ ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê 12% ˆÅú ¨¸¸¢«¸ÄˆÅ ¨¸¼¢Ö ™¸Ä ` 4.18 lakh crore in FY 2022-23. On the asset íºƒÄ. ‚¸¦¬÷¸ ˆ½Å Ÿ¸¸½¸½Ä œ¸£, ¢›¸¨¸¥¸ ‚¢ŠÏŸ¸ ` 1.89 ¥¸¸‰¸ ˆÅ£¸½”õ £í½, front, net advances stood at ` 1.89 lakh crore, ¢¸›¸Ÿ¸Ê 16% (¨¸«¸Ä-™£-¨¸«¸Ä) ˆÅú ¨¸¼¢Ö ™¸Ä íºƒÄ. ‰¸º™£¸-ˆÊÅ¢Í÷¸ ¤¸ÿˆÅ registering a growth of 16% (y-o-y). The share of ˆ½Å ³œ¸ Ÿ¸Ê ‚œ¸›¸ú ¨¸¸¿ ¦ Ž÷¸ ¦¬˜¸¢÷¸ ˆ½Å ‚›¸º³œ¸, Ÿ¸¸¸Ä 2024 ˆ½Å ‚¿÷¸ Ÿ¸Ê retail to corporate advances in total advances, ˆºÅ¥¸ ‚¢ŠÏŸ¸¸Ê Ÿ¸Ê ‰¸º™£¸ ‚¸¾£ ˆÅ¸Á£œ¸¸½£½’ ‚¢ŠÏŸ¸¸Ê ˆÅ¸ ¢í¬¬¸¸ ¬¸ºš¸£ ˆÅ£ in alignment with its intended positioning as dm{f©H$ [anmoQ>© Annual Report 2023-24 xvii 70À30 í¸½ Š¸¡¸¸, ¸¤¸¢ˆÅ Ÿ¸¸¸Ä 2023 ˆ½Å ‚¿÷¸ Ÿ¸Ê ¡¸í 69À31 ˜¸¸. a retail-focused bank, improved to 70:30 as at ¤¸ÿˆÅ ˆÅ¸ ‰¸º™£¸ ¢›¸¨¸¥¸ ‚¢ŠÏŸ¸ œ¸¸½’ÄûŸ½¢¥¸¡¸¸½ 17% (¨¸«¸Ä-™£-¨¸«¸Ä) end-March 2024 as compared to 69:31 as at end-March 2023. The Bank’s retail net advances ¤¸õˆÅ£ ` 1.33 ¥¸¸‰¸ ˆÅ£¸½”õ í¸½ Š¸¡¸¸ ‚¸¾£ ¬¸¿£¸›¸¸Š¸÷¸ ‰¸º™£¸ ‚¸¦¬÷¸ portfolio grew by 17% (y-o-y) to ` 1.33 lakh crore (‡¬¸‚¸£‡) œ¸¸½’ÄûŸ½¢¥¸¡¸¸½ ` 83,882 ˆÅ£¸½”õ £í¸, ¢¸¬¸Ÿ¸Ê ¢¨¸î¸ú¡¸ ¨¸«¸Ä and the Structured Retail Assets (SRA) portfolio 2023-24 Ÿ¸Ê 11% (¨¸«¸Ä-™£-¨¸«¸Ä) ˆÅú ¨¸¼¢Ö íºƒÄ. ƒ¬¸ˆ½Å ‚¥¸¸¨¸¸, stood at ` 83,882 crore, registering a growth of 11% (y-o-y) in FY 2023-24. Furthermore, the Bank ¤¸ÿˆÅ ›¸½ ¸¸½¢‰¸Ÿ¸-¬¸¿÷¸º¢¥¸÷¸ ÷¸£úˆ½Å ¬¸½ ‚œ¸›¸ú ˆÅ¸Á£œ¸¸½£½’ †µ¸ ¤¸íú ˆÅ¸½ also undertook concerted efforts to grow its ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡ ž¸ú “¸½¬¸ œÏ¡¸¸¬¸ ¢ˆÅ‡. ™½¡¸÷¸¸‚¸Ê ˆ½Å Ÿ¸¸½¸½Ä œ¸£, ¤¸ÿˆÅ ˆÅ¸ corporate loan book in a risk-calibrated manner. ¸Ÿ¸¸ ‚¸š¸¸£ 9% (¨¸«¸Ä-™£-¨¸«¸Ä) ¤¸õˆÅ£ ` 2.78 ¥¸¸‰¸ ˆÅ£¸½”õ í¸½ On the liability front, the Bank’s deposit base increased by 9% (y-o-y) to ` 2.78 lakh crore Š¸¡¸¸, ¸¤¸¢ˆÅ ˆÅ¸¬¸¸ ¸Ÿ¸¸ Ÿ¸Ê 3% (¨¸«¸Ä-™£-¨¸«¸Ä) ˆÅú ¨¸¼¢Ö ™¸Ä ˆÅú with CASA deposits registering a growth of 3% Š¸ƒÄ ‚¸¾£ ¡¸í ` 1.40 ¥¸¸‰¸ ˆÅ£¸½”õ í¸½ Š¸ƒÄ. ¡¸Ô¸¢œ¸ ˆÅ¸¬¸¸ ‚›¸ºœ¸¸÷¸ (y-o-y) to ` 1.40 lakh crore. While there has been Ÿ¸Ê ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å 53.02% ¬¸½ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 a marginal dip in the CASA ratio to 50.43% in Ÿ¸Ê 50.43% ÷¸ˆÅ ˆÅú Ÿ¸¸Ÿ¸»¥¸ú ¢Š¸£¸¨¸’ ‚¸ƒÄ, ¥¸½¢ˆÅ›¸ ¡¸í 50% ˆ½Å FY 2023-24 from 53.02% in FY 2022-23, it has remained above the 50% mark. ¢›¸©¸¸›¸ ˆ½Å …œ¸£ ¤¸›¸¸ £í¸. With regard to asset quality, Provision Coverage ‚¸¦¬÷¸ Š¸ºµ¸¨¸î¸¸ ˆ½Å ¬¸¿¤¸¿š¸ Ÿ¸Ê, œÏ¸¨¸š¸¸›¸ ˆÅ¨¸£½¸ ‚›¸ºœ¸¸÷¸ (œ¸ú¬¸ú‚¸£) Ratio (PCR) improved further to 99.09% in ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å 97.94% ¬¸½ ¤¸õˆÅ£ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023- FY 2023-24 from 97.94% in FY 2022-23. The 24 Ÿ¸Ê 99.09% í¸½ Š¸¡¸¸. ƒ¬¸ˆ½Å ¬¸ˆÅ¥¸ ‡›¸œ¸ú‡ (¸ú‡›¸œ¸ú‡) ‚¸¾£ reduction in its Gross NPA (GNPA) and Net NPA (NNPA) base underscore the Bank’s commitment ¢›¸¨¸¥¸ ‡›¸œ¸ú‡ (‡›¸‡›¸œ¸ú‡) ‚¸š¸¸£ Ÿ¸Ê ˆÅŸ¸ú ¤¸ÿˆÅ ˆÅú ‚œ¸›¸ú ‚¸¦¬÷¸ to improve its asset quality. The GNPA ratio was Š¸ºµ¸¨¸î¸¸ Ÿ¸Ê ¬¸ºš¸¸£ ˆÅ£›¸½ ˆÅú œÏ¢÷¸¤¸Ö÷¸¸ ˆÅ¸½ £½‰¸¸¿¢ˆÅ÷¸ ˆÅ£÷¸ú í¾. at 4.53% in FY 2023-24 as compared to 6.38% ¸ú‡›¸œ¸ú‡ ‚›¸ºœ¸¸÷¸ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å 6.38% ˆÅú ÷¸º¥¸›¸¸ in FY 2022-23 – registering 185 basis points Ÿ¸Ê 185 ‚¸š¸¸£ ‚¿ˆÅ ‹¸’ˆÅ£ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê 4.53% reduction. The NNPA ratio was at 0.34% in Opening a Savings Bank Account is now as easy as this. Instant Account Opening with IDBI Bank Go Mobile+ App now. xviii Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements £í Š¸¡¸¸. ‡›¸‡›¸œ¸ú‡ ‚›¸ºœ¸¸÷¸ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å 0.92% FY 2023-24 as compared to 0.92% in FY 2022-23 ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê 58 ‚¸š¸¸£ ‚¿ˆÅ ‹¸’ˆÅ£ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê – registering 58 basis points reduction. 0.34% £í Š¸¡¸¸. The Bank’s capital position improved further and remained well above the regulatory ¤¸ÿˆÅ ˆÅú œ¸»¿¸ú ¦¬˜¸¢÷¸ Ÿ¸Ê ‚¸¾£ ¬¸ºš¸¸£ íº‚¸ ÷¸˜¸¸ ¡¸í ¢¨¸¢›¸¡¸¸Ÿ¸ˆÅ ‚œ¸½®¸¸‚¸Ê requirements. The CRAR was at 22.26% in ¬¸½ ˆÅ¸ûÅú …œ¸£ ¤¸›¸ú £íú. ¬¸ú‚¸£‡‚¸£ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å F Y 2023-24 as compared to 20.44% in 20.44% ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê 22.26% í¸½ Š¸¡¸¸. FY 2022-23. The Tier 1 Ratio was at 20.11% in F Y 2023-24 as compared to 18.08% in ¢’¡¸£ 1 ‚›¸ºœ¸¸÷¸ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å 18.08% ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê FY 2022-23. ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê 20.11% £í¸. The overall profitability of the Bank improved in ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê ¤¸ÿˆÅ ˆÅú ¬¸Ÿ¸ŠÏ ¥¸¸ž¸œÏ™÷¸¸ Ÿ¸Ê ¬¸ºš¸¸£ íº‚¸; FY 2023-24; Net Interest Income (NII) registered a ¢›¸¨¸¥¸ ¤¡¸¸¸ ‚¸¡¸ (‡›¸‚¸ƒÄ‚¸ƒÄ) Ÿ¸Ê 24% (¨¸«¸Ä-™£-¨¸«¸Ä) ˆÅú ¨¸¼¢Ö growth of 24% (y-o-y) to ` 14,186 crore; Operating Profit increased by 10% (y-o-y) to ` 9,592 crore; ™¸Ä ˆÅú Š¸ƒÄ, ¸¸½ `14,186 ˆÅ£¸½”õ í¸½ Š¸ƒÄ; œ¸¢£¸¸¥¸›¸ ¥¸¸ž¸ 10% Profit Before Tax (PBT) increased by 56% (y-o-y) (¨¸«¸Ä-™£-¨¸«¸Ä) ¤¸õˆÅ£ ` 9,592 ˆÅ£¸½”õ í¸½ Š¸¡¸¸; ˆÅ£-œ¸»¨¸Ä ¥¸¸ž¸ to ` 8,195 crore and consequently led to a (œ¸ú¤¸ú’ú) 56% (¨¸«¸Ä-™£-¨¸«¸Ä) ¤¸õˆÅ£ ` 8,195 ˆÅ£¸½”õ í¸½ Š¸¡¸¸ 55% surge in its Net Profit to ` 5,634 crore for ‚¸¾£ ƒ¬¸ˆ½Å œ¸¢£µ¸¸Ÿ¸¬¨¸³œ¸ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2023-24 Ÿ¸Ê ƒ¬¸ˆÅ¸ ¢›¸¨¸¥¸ FY 2023-24. I would like to mention here that, despite various challenges, this is the fourth ¥¸¸ž¸ 55% ¤¸õˆÅ£ ` 5,634 ˆÅ£¸½”õ í¸½ Š¸¡¸¸. Ÿ¸ÿ ¡¸í¸Â ¡¸í „¥¥¸½‰¸ year in a row that the Bank has registered net ˆÅ£›¸¸ ¸¸í»ÂŠ¸¸ ¢ˆÅ ¢¨¸¢ž¸››¸ ¸º›¸¸¾¢÷¸¡¸¸Ê ˆ½Å ¤¸¸¨¸¸»™, ¡¸í ¥¸Š¸¸÷¸¸£ ¸¸¾˜¸¸ profit, with each year’s performance improving ¨¸«¸Ä í¾ ¸¤¸ ¤¸ÿˆÅ ›¸½ ¢›¸¨¸¥¸ ¥¸¸ž¸ ™¸Ä ¢ˆÅ¡¸¸ í¾ ‚¸¾£ œÏ÷¡¸½ˆÅ ¨¸«¸Ä ˆÅ¸ over the previous year. œÏ™©¸Ä›¸ ¢œ¸Ž¥¸½ ¨¸«¸Ä ˆÅú ÷¸º¥¸›¸¸ Ÿ¸Ê ¤¸½í÷¸£ í¸½ £í¸ í¾. Way Forward I am confident that your Bank has the right ‚¸Š¸½ ˆÅú £¸í strategy and capabilities to surmount any Ÿ¸º¸½ œ¸»£¸ ¢¨¸æ¸¸¬¸ í¾ ¢ˆÅ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆ½Å œ¸¸¬¸ ¢ˆÅ¬¸ú ž¸ú ¸º›¸¸¾÷¸ú ¬¸½ ¢›¸œ¸’›¸½ challenges and seize any opportunities in the rapidly evolving operating environment. Your ‚¸¾£ ÷¸½¸ú ¬¸½ ¢¨¸ˆÅ¢¬¸÷¸ í¸½ £í½ œ¸¢£¸¸¥¸›¸ œ¸¢£¨¸½©¸ Ÿ¸Ê ¢ˆÅ¬¸ú ž¸ú ‚¨¸¬¸£ Bank has implemented multiple strategic ˆÅ¸½ ž¸º›¸¸›¸½ ˆ½Å ¢¥¸‡ ¬¸íú £µ¸›¸ú¢÷¸ ‚¸¾£ ®¸Ÿ¸÷¸¸‡¿ íÿ. ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ›¸½ ˆÅƒÄ initiatives cohesively that have not only helped £µ¸›¸ú¢÷¸ˆÅ œ¸í¥¸¸Ê ˆÅ¸½ ‡ˆÅ ¬¸¸˜¸ ¥¸¸Š¸» ¢ˆÅ¡¸¸ í¾, ¢¸¬¸¬¸½ ›¸ ˆ½Å¨¸¥¸ ¢œ¸Ž¥¸½ it to address certain issues over the years but have also enhanced its inherent foundational ˆºÅŽ ¨¸«¸¸½ô Ÿ¸Ê ˆºÅŽ Ÿ¸ºÓ¸Ê ˆÅ¸½ í¥¸ ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ ¢Ÿ¸¥¸ú í¾ ¤¸¦¥ˆÅ ƒ¬¸ˆÅú strengths. Your Bank is well-positioned to take ‚¿÷¸¢›¸Ä¢í÷¸ ‚¸š¸¸£ž¸»÷¸ ©¸¢Æ÷¸¡¸¸¿ ž¸ú ¤¸õ ú íÿ¾. ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚›¸ºˆ»Å¥¸ advantage of the favourable macroeconomic ¬¸Ÿ¸¦«’ ‚¸¢˜¸ÄˆÅ ¨¸¸÷¸¸¨¸£µ¸ ˆÅ¸ ¥¸¸ž¸ „“¸›¸½ ˆ½Å ¢¥¸‡ ¤¸½í÷¸£ ¦¬˜¸¢÷¸ environment. Backed by a healthier and stronger balance sheet, the Bank is well-placed Ÿ¸Ê í¾. ‡ˆÅ ¤¸½í÷¸£ ‚¸¾£ Ÿ¸¸¤¸»÷¸ ÷¸º¥¸›¸ œ¸°¸ ׸£¸ ¬¸Ÿ¸¢˜¸Ä÷¸ ¤¸ÿˆÅ †µ¸ to support the growth aspirations of the Indian Ÿ¸¸¿Š¸ ˆÅ¸½ œ¸»£¸ ˆÅ£ˆ½Å ž¸¸£÷¸ú¡¸ ‚˜¸Ä¨¡¸¨¸¬˜¸¸ ˆÅú ¢¨¸ˆÅ¸¬¸ ‚¸ˆÅ¸¿®¸¸‚¸Ê ˆÅ¸ economy by catering to the credit demand. The dm{f©H$ [anmoQ>© Annual Report 2023-24 xix ¬¸Ÿ¸˜¸Ä›¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ ‚Žú ¦¬˜¸¢÷¸ Ÿ¸Ê í¾. ¤¸ÿˆÅ ‚œ¸›¸½ ¸Ÿ¸¸ ‚¸š¸¸£ Bank will continue to capitalise on its customer- ˆÅ¸½ ¤¸õ¸›¸½ ˆ½Å ¢¥¸‡ ‚œ¸›¸½ ŠÏ¸íˆÅ-ˆÊÅ¢Í÷¸ ´¦«’ˆÅ¸½µ¸ ˆÅ¸ ¥¸¸ž¸ „“¸›¸¸ centric approach to widen its deposit base. In addition to its core banking business, the Bank ¸¸£ú £‰¸½Š¸¸. ‚œ¸›¸½ Ÿ¸º‰¡¸ ¤¸ÿ¢ˆ¿ÅŠ¸ ˆÅ¸£¸½¤¸¸£ ˆ½Å ‚¥¸¸¨¸¸, ¤¸ÿˆÅ ‡ˆÅ íú will focus on deepening the existing customer ¬˜¸¸›¸ œ¸£ ¬¸ž¸ú ¢¨¸î¸ú¡¸ ¬¸Ÿ¸¸š¸¸›¸ œÏ™¸›¸ ˆÅ£ Ÿ¸¸¾¸»™¸ ŠÏ¸íˆÅ ¬¸¿¤¸¿š¸¸Ê ˆÅ¸½ relationships by providing holistic financial Š¸í£¸ ˆÅ£›¸½ œ¸£ š¡¸¸›¸ ˆÊÅ¢Í÷¸ ˆÅ£½Š¸¸. ¤¸ÿ¢ˆ¿ÅŠ¸ ®¸½°¸ Ÿ¸Ê ‚œ¸›¸ú ¦¬˜¸¢÷¸ solutions under one roof. To further augment its position in the banking space, your Bank will ˆÅ¸½ ‚¸¾£ ¬¸º´õ ˆÅ£›¸½ ˆ½Å ¢¥¸‡, ‚¸œ¸ˆÅ¸ ¤¸ÿˆÅ ‚œ¸›¸½ ˆÅŸ¸Ä¸¸¢£¡¸¸Ê ˆ½Å continue to invest in scaling up the knowledge ±¸¸›¸ ‚¸¾£ ˆÅ¸¾©¸¥¸ ˆÅ¸½ ¤¸õ¸›¸½ Ÿ¸Ê ¢›¸¨¸½©¸ ˆÅ£›¸¸ ¸¸£ú £‰¸½Š¸¸ ÷¸¸¢ˆÅ ¡¸í and skills of its workforce to ensure that they ¬¸º¢›¸¢ä¸÷¸ í¸½ ¬¸ˆ½Å ¢ˆÅ ¨¸½ ¢¨¸ˆÅ¢¬¸÷¸ í¸½ £í½ ¢¨¸î¸ú¡¸ œ¸¢£´©¡¸ Ÿ¸Ê ‚¸Š¸½ are capable of navigating the evolving financial ¤¸õ›¸½ ‚¸¾£ ¤¸½í÷¸£ú›¸ ŠÏ¸íˆÅ ¬¸½¨¸¸ œÏ™¸›¸ ˆÅ£›¸½ Ÿ¸Ê ¬¸®¸Ÿ¸ í¸Ê. ‚¸œ¸ˆÅ¸ landscape and providing superior customer service. Your Bank will continue to invest in ¤¸ÿˆÅ œ¸¢£¸¸¥¸›¸ ™®¸÷¸¸ ‡¨¸¿ ›¸¨¸¸¸¸£¸Ê ˆÅ¸½ ¤¸õ¸÷¸½ íº‡ œÏ¢÷¸¬œ¸š¸¸Ä÷Ÿ¸ˆÅ technological advances to gain a competitive ¤¸õ÷¸ í¸¢¬¸¥¸ ˆÅ£›¸½ ˆ½Å ¢¥¸‡ œÏ¸¾Ô¸¸½¢Š¸ˆÅú¡¸ œÏŠ¸¢÷¸ Ÿ¸Ê ¢›¸¨¸½©¸ ˆÅ£›¸¸ edge by enhancing operational efficiency, driving ¸¸£ú £‰¸½Š¸¸ ‚¸¾£ ƒ¬¸¬¸½ ŠÏ¸íˆÅ ‚›¸ºž¸¨¸ Ÿ¸Ê œ¸¢£¨¸÷¸Ä›¸ ‚¸‡Š¸¸. ‚œ¸›¸ú innovations and thus, transforming customer experiences. At the core of its strategy, the Bank £µ¸›¸ú¢÷¸ ˆ½Å Ÿ¸»¥¸ Ÿ¸Ê, ¤¸ÿˆÅ ‚œ¸›¸½ ¬¸ž¸ú ¢í÷¸š¸¸£ˆÅ¸Ê ˆ½Å ¢¥¸‡ ™ú‹¸ÄˆÅ¸¢¥¸ˆÅ remains resolute in its commitment to remain Ÿ¸»¥¡¸ Ÿ¸Ê ¨¸¼¢Ö ˆÅ£÷¸½ íº‡ ¬¸¨¸¸Ä¢š¸ˆÅ œ¸¬¸¿™ú™¸ ‚¸¾£ ¢¨¸æ¸¬¸›¸ú¡¸ ¤¸ÿˆÅ ¤¸›¸½ the most preferred and trusted bank enhancing £í›¸½ ˆÅú ‚œ¸›¸ú œÏ¢÷¸¤¸Ö÷¸¸ ˆ½Å œÏ¢÷¸ ´õ í¾. long-term value for all its stakeholders. ‚œ¸›¸ú £µ¸›¸ú¢÷¸ ˆ½Å Ÿ¸»¥¸ Ÿ¸Ê, ¤¸ÿˆÅ ‚œ¸›¸½ ¬¸ž¸ú ¢í÷¸š¸¸£ˆÅ¸Ê At the core of its strategy, the Bank remains resolute in its commitment to ˆ½Å ¢¥¸‡ ™ú‹¸ÄˆÅ¸¢¥¸ˆÅ Ÿ¸»¥¡¸ Ÿ¸Ê ¨¸¼¢Ö ˆÅ£÷¸½ íº‡ remain the most preferred and trusted ¬¸¨¸¸Ä¢š¸ˆÅ œ¸¬¸¿™ú™¸ ‚¸¾£ ¢¨¸æ¸¬¸›¸ú¡¸ ¤¸ÿˆÅ ¤¸›¸½ £í›¸½ ˆÅú bank enhancing long-term value for all its ‚œ¸›¸ú œÏ¢÷¸¤¸Ö÷¸¸ ˆ½Å œÏ¢÷¸ ´õ í¾. stakeholders. Acknowledgement ‚¸ž¸¸£ I would like to express my gratitude for the Ÿ¸ÿ ž¸¸£÷¸ ¬¸£ˆÅ¸£, ž¸¸£÷¸ú¡¸ ¢£{¸¨¸Ä ¤¸ÿˆÅ, ž¸¸£÷¸ú¡¸ œÏ¢÷¸ž¸»¢÷¸ ‚¸¾£ valuable support and co-operation extended ¢¨¸¢›¸Ÿ¸¡¸ ¤¸¸½”Ä ÷¸˜¸¸ ‚›¡¸ ¬¸ž¸ú ¬¸¸¿¢¨¸¢š¸ˆÅ ‡¨¸¿ ¢¨¸¢›¸¡¸¸Ÿ¸ˆÅú¡¸ by the Government of India, the Reserve Bank of India, the Securities and Exchange Board œÏ¸¢š¸ˆÅ¸¢£¡¸¸Ê ׸£¸ ¬¸Ÿ¸¡¸-¬¸Ÿ¸¡¸ œ¸£ ¢™‡ Š¸‡ ¤¸íºŸ¸»¥¡¸ ¬¸Ÿ¸˜¸Ä›¸ ‚¸¾£ of India and all other statutory & regulatory ¬¸í¡¸¸½Š¸ ˆ½Å ¢¥¸‡ ‚œ¸›¸¸ ‚¸ž¸¸£ ¨¡¸Æ÷¸ ˆÅ£›¸¸ ¸¸í÷¸¸ í»Â. Ÿ¸ÿ ž¸¸£÷¸ú¡¸ authorities from time-to-time. I would like to extend my heartfelt appreciation for the ¸ú¨¸›¸ ¤¸úŸ¸¸ ¢›¸Š¸Ÿ¸ (‡¥¸‚¸ƒÄ¬¸ú) ׸£¸ ¢™‡ Š¸‡ ¬¸Ÿ¸˜¸Ä›¸ ˆ½Å ¢¥¸‡ support extended by the Life Insurance ‚œ¸›¸ú í¸¢™ÄˆÅ œÏ©¸¿¬¸¸ ¨¡¸Æ÷¸ ˆÅ£›¸¸ ¸¸í÷¸¸ í»Â, ¢¸¬¸›¸½ ¤¸ÿˆÅ ˆÅ¸½ ‚œ¸›¸ú Corporation of India (LIC) that has empowered xx Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ¡¸¸°¸¸ Ÿ¸Ê ¬¸©¸Æ÷¸ ¤¸›¸¸¡¸¸ í¾. Ÿ¸ÿ ¢›¸™½©¸ˆÅ Ÿ¸¿”¥¸ ‚¸¾£ œÏ¤¸¿š¸›¸ ’úŸ¸ ˆÅ¸½ the Bank in its journey. I would like to thank the „›¸ˆ½Å ¤¸íºŸ¸»¥¡¸ Ÿ¸¸Š¸Ä™©¸Ä›¸ ‚¸¾£ ‚’»’ ¬¸Ÿ¸˜¸Ä›¸ ˆ½Å ¢¥¸‡ š¸›¡¸¨¸¸™ ™½›¸¸ Board of Directors and the Management Team for their invaluable guidance and unwavering ¸¸í÷¸¸ í»Â. Ÿ¸ÿ ¬¸ž¸ú ˆÅŸ¸Ä¸¸¢£¡¸¸Ê ˆÅú „›¸ˆ½Å ¬¸Ÿ¸œ¸Äµ¸, ˆÅ”õú Ÿ¸½í›¸÷¸ ‚¸¾£ support. I would like to commend all the ¥¸¸ú¥¸½œ¸›¸ ˆ½Å ¢¥¸‡ ¬¸£¸í›¸¸ ˆÅ£›¸¸ ¸¸í÷¸¸ í»Â, ¢¸›¸¬¸½ íŸ¸Ê ‚œ¸›¸½ ¥¸®¡¸¸Ê employees for their dedication, hard work and resilience that helped us to achieve our goals. I ˆÅ¸½ œÏ¸œ÷¸ ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ ¢Ÿ¸¥¸ú. Ÿ¸ÿ ‚œ¸›¸½ ©¸½¡¸£š¸¸£ˆÅ¸Ê ‚¸¾£ ŠÏ¸íˆÅ¸Ê acknowledge the trust and confidence that our ׸£¸ ¤¸ÿˆÅ œ¸£ £‰¸½ Š¸‡ ¢¨¸æ¸¸¬¸ ‚¸¾£ ž¸£¸½¬¸½ ˆ½Å ¢¥¸‡ š¸›¡¸¨¸¸™ ±¸¸¢œ¸÷¸ shareholders and customers have placed in the Bank. I would also like to extend my sincere ˆÅ£÷¸¸ í»Â. Ÿ¸ÿ ¤¸ÿˆÅ ˆÅú Ÿ¸»¥¡¸ ª¼¿‰¸¥¸¸ Ÿ¸Ê ž¸¸Š¸ú™¸£¸Ê ˆÅ¸½ „›¸ˆ½Å ¤¸íºŸ¸»¥¡¸ thanks to the Bank’s value chain partners for ¡¸¸½Š¸™¸›¸ ˆ½Å ¢¥¸‡ ‚œ¸›¸¸ í¸¢™ÄˆÅ š¸›¡¸¨¸¸™ ™½›¸¸ ¸¸í÷¸¸ í»Â, ¸¸½ ퟸ¸£ú their invaluable contribution that has been ™¾›¸¿¢™›¸ Š¸¢÷¸¢¨¸¢š¸¡¸¸Ê Ÿ¸Ê Ÿ¸í÷¨¸œ¸»µ¸Ä £í½ íÿ ‚¸¾£ ¢¸›í¸Ê›¸½ íŸ¸Ê ‚œ¸›¸½ pivotal in our day-to-day activities and has helped us to achieve our business objectives. ˆÅ¸£¸½¤¸¸£ú „Ó½©¡¸¸Ê ˆÅ¸½ œÏ¸œ÷¸ ˆÅ£›¸½ Ÿ¸Ê Ÿ¸™™ ˆÅú í¾. ‚¸ƒÄ”ú¤¸ú‚¸ƒÄ ¤¸ÿˆÅ We, at IDBI Bank, are optimistic about your Ÿ¸Ê, ퟸ ‚¸œ¸ˆ½Å ¤¸ÿˆÅ ˆÅú ÷¸½¸ú ¬¸½ ¤¸õ›¸½ ˆÅú ®¸Ÿ¸÷¸¸ ˆ½Å ¤¸¸£½ Ÿ¸Ê ‚¸©¸¸¨¸¸™ú Bank’s potential to grow exponentially and look forward to your continued support and goodwill íÿ ‚¸¾£ ‚¸œ¸ˆ½Å ¢›¸£¿÷¸£ ¬¸Ÿ¸˜¸Ä›¸ ‚¸¾£ ¬¸Õ¸¨¸ ˆÅú ‚¸©¸¸ ˆÅ£÷¸½ íÿ ÷¸¸¢ˆÅ as we continue to march ahead towards brighter ퟸ „¨¸¥¸ ‚¸¾£ ¤¸½í÷¸£ ž¸¢¨¸«¡¸ ˆÅú ‚¸½£ ‚ŠÏ¬¸£ í¸½÷¸½ £íÊ. and better future. ©¸ºž¸ˆÅ¸Ÿ¸›¸¸‚¸Ê ¬¸¢í÷¸, With best wishes, £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä Rakesh Sharma Managing Director & CEO œÏ¤¸¿š¸ ¢›¸™½©¸ˆÅ ‡¨¸¿ ¬¸úƒÄ‚¸½ Owning is easy. Driving is fun. Auto Loans from IDBI Bank. dm{f©H$ [anmoQ>© Annual Report 2023-24 xxi Hw$N> à‘wI J{V{d{Y¶m§ Some Major Events \vagata vaVaQ kI Jala\kyaa/ Glimpses of the past year ªú £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä, ‡Ÿ¸”ú ‡¨¸¿ ¬¸úƒÄ‚¸½ ¬¸½ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å ¢¥¸‡ ¥¸¸ž¸¸¿©¸ ˆÅ¸ ¸½ˆÅ œÏ¸œ÷¸ ˆÅ£÷¸½ íº‡ Ÿ¸¸›¸›¸ú¡¸ ¢¨¸î¸ Ÿ¸¿°¸ú, ªúŸ¸÷¸ú ¢›¸Ÿ¸Ä¥¸¸ ¬¸ú÷¸¸£Ÿ¸µ¸. Hon’ble Finance Minister, Smt. Nirmala Sitharaman, receiving the dividend cheque for FY 2022-23 from Shri Rakesh Sharma, MD & CEO. ªú £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä, ‡Ÿ¸”ú ‡¨¸¿ ¬¸úƒÄ‚¸½, ž¸¸£÷¸ú¡¸ ¸ú¨¸›¸ ¤¸úŸ¸¸ ¢›¸Š¸Ÿ¸ ˆ½Å ‚š¡¸®¸ ªú ¢¬¸Ö¸˜¸Ä Ÿ¸¸½í¿÷¸ú ˆÅ¸½ ¢¨¸î¸ú¡¸ ¨¸«¸Ä 2022-23 ˆ½Å ¢¥¸‡ ¥¸¸ž¸¸¿©¸ ˆ ¸ ¸½ˆÅ ¬¸¸ÿœ¸÷¸½ íº‡. Shri Rakesh Sharma, MD & CEO, handing over the dividend cheque for FY 2022-23 to Shri Siddhartha Mohanty, Chairperson, LIC of India. xxii Friendship That Powers Progress  H$m°anmoaoQ> {dh§JmdbmoH$Z gm§{d{YH$ [anmoQ>© {dÎmr¶ {ddaU Corporate Overview Statutory Reports Financial Statements ªú £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä, ‡Ÿ¸”ú ‡¨¸¿ ¬¸úƒÄ‚¸½, ‚Ÿ¤¸½”ˆÅ£ ¸¡¸¿÷¸ú ˆ½Å ‚¨¸¬¸£ œ¸£ ”¸Á. ¤¸¸¤¸¸¬¸¸í½¤¸ ‚Ÿ¤¸½”ˆÅ£ ˆÅ¸½ ªÖ¸¿¸¢¥¸ ‚¢œ¸Ä÷¸ ˆÅ£÷¸½ íº‡. Shri Rakesh Sharma, MD & CEO, paying homage to Dr. Babasaheb Ambedkar on the occasion of Ambedkar Jayanti. ªú ¸¡¸ˆºÅŸ¸¸£ ‡¬¸. ¢œ¸¥¥¸¾, „œ¸ œÏ¤¸¿š¸ ¢›¸™½©¸ˆÅ, ¤¸ÿˆÅ ˆ½Å ¨¸¢£«“ ‚¢š¸ˆÅ¸¢£¡¸¸Ê ‚¸¾£ ‚›¡¸ Š¸µ¸Ÿ¸¸›¡¸ ¨¡¸¢Æ÷¸¡¸¸Ê ˆÅú „œ¸¦¬˜¸¢÷¸ Ÿ¸Ê ¬¸¸ƒ¿¬¸ ¢¬¸’ú, ‚ퟸ™¸¤¸¸™ ©¸¸‰¸¸ ˆÅ¸ „™Ã‹¸¸’›¸ ˆÅ£÷¸½ íº‡. Shri Jayakumar S. Pillai, DMD, inaugurating the Science City, Ahmedabad branch, in presence of senior officials of the Bank and other dignitaries. Ÿ¸í¸£¸«’ï ˆ½Å Ÿ¸¸›¸›¸ú¡¸ Ÿ¸º‰¡¸Ÿ¸¿°¸ú, ªú ‡ˆÅ›¸¸˜¸ ¢©¸¿™½ , Ÿ¸í¸£¸«’ï ˆ½Å Ÿ¸¸›¸›¸ú¡¸ „œ¸ Ÿ¸º‰¡¸Ÿ¸¿°¸ú ªú ™½¨¸ÊÍ ûÅ”µ¸¨¸ú¬¸, Ÿ¸í¸£¸«’ï ˆ½ Ÿ¸¸›¸›¸ú¡¸ ŠÏ¸Ÿ¸úµ¸ ¢¨¸ˆÅ¸¬¸ Ÿ¸¿°¸ú, ªú ¢Š¸£ú©¸ Ÿ¸í¸¸›¸, ‚›¡¸ Š¸µ¸Ÿ¸¸›¡¸ ¨¡¸¢Æ÷¸ ‚¸¾£ ¤¸ÿˆÅ ˆ½Å ¨¸¢£«“ ˆÅ¸¡¸Äœ¸¸¥¸ˆÅ¸Ê ˆÅú „œ¸¦¬˜¸¢÷¸ Ÿ¸Ê ªú £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä, ‡Ÿ¸”ú ‡¨¸¿ ¬¸úƒÄ‚¸½, ¬¸½ ¢¨¸¥¸½¸ ¬¸¸½©¸¥¸ ’︿¬¸ûŸÁŸ¸½Ä©¸›¸ ûŸ„¿”½©¸›¸ (¨¸ú‡¬¸’ú‡ûÅ) ˆ½Å ¢¥¸‡ ¬¸ú‡¬¸‚¸£ ‚›¸º™¸›¸ œÏ¸œ÷¸ ˆÅ£÷¸½ íº‡. Hon’ble Chief Minister, Maharashtra, Shri Eknath Shinde, receiving a CSR Grant towards Village Social Transformation Foundation (VSTF) from Shri Rakesh Sharma, MD & CEO, in the presence of Hon’ble Deputy Chief Minister, Maharashtra, Shri Devendra Fadnavis, Hon’ble Minister, Rural Development, Maharashtra, Shri Girish Mahajan, other dignitaries and senior executives of the Bank. dm{f©H$ [anmoQ>© Annual Report 2023-24 xxiii  ªú £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä, ‡Ÿ¸”ú ‡¨¸¿ ¬¸úƒÄ‚¸½, ¤¸ÿˆÅ ˆ½Å ¨¸¢£«“ ˆÅ¸¡¸Äœ¸¸¥¸ˆÅ¸Ê ˆÅú „œ¸¦¬˜¸¢÷¸ Ÿ¸Ê œ¸ºµ¸½ Ÿ¸Ê ‚¸ƒÄ”ú¤¸ú‚¸ƒÄ ¥¸¢›¸ôŠ¸ ¬¸Ê’£ ˆÅ¸ „™Ã‹¸¸’›¸ ˆÅ£÷¸½ íº‡. Shri Rakesh Sharma, MD & CEO, inaugurating the IDBI Learning Center, Pune, in the presence of senior executives of the Bank. ªú £¸ˆ½Å©¸ ©¸Ÿ¸¸Ä, ‡Ÿ¸”ú ‡¨¸¿ ¬¸úƒÄ‚¸½, `¬