is. accounting for provisions, contingent liabilities and contingent assets
In conformity with Accounting Standard AS 29, "Provisions, Contingent Liabilities and Contingent Assets", the
Bank recognizes provisions only when it has a present obligation as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate
of the amount of the obligation can be made. Contingent Assets are not recognized in the financial statements.
16. Segment Reporting
The Bank recognizes the Business segment as the Primary reporting segment and Geographical segment as
the Secondary reporting segment, in accordance with the RBI guidelines and in compliance with the Accounting
Standard 17 issued by ICAI.
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