Annual Report 2002-2003

Annual Report 2002-2003

Balance Sheet as of 30.06.03

Previous Year Rs. Crores		Liabilities	Schedules	Current Year Rs. Crores
350.00	1.	Capital	I	450.00
966.71	2.	Reserves	II	1087.95
0.74	3.	Profit & Loss Account	III	0.68
3051.92	4.	Bonds and Debentures	IV	6010.52
…	5.	Subordinated Debts		400.00
159.88	6.	Deposits in HLAS - As per contra		171.65
1778.08	7.	Borrowings	V	1521.53
426.24	8.	Current Liabilities and Provisions	VI	401.75
348.97	9.	Other Liabilities	VII	245.58
7082.54				10289.66

P.K. Agrawal	P. S. Juneja		P.K. Chattopadhyay
Asst. Gen. Manager	Dy. General Manager		General Manager

A.K.Sohani	R.V.Verma		V. Sridar
Executive Director	Executive Director		Chairman & Managing Director

Directors
'S.B.Mathur	Ashok Kumar		L. M. Mehta	Vepa Kamesam
'K.Madhava Rao	Shekhar Agarwal		Wilfred Lakra	A. Bhattacharya
A.K. Samantaray

New Delhi, 25th August, 2003

General Fund

as at 30th June, 2003

Previous Year Rs. Crores		Assets	Schedules	Current Year Rs. Crores
1017.18	1.	Cash and Bank Balances	VIII	2327.72
178.76	2.	Investments	IX	387.02
5204.94	3.	Loans and Advances	X	6883.39
27.26	4.	Fixed Assets	XI	31.83
494.52	5.	Other Assets	XII	487.67
…	6.	Deferred Tax Assets		0.38
159.88	7.	HLA deposits with banks/HFCs - As per contra (out of this, Rs.13.82 crores used as automatic refinance) Notes forming part of	XIII	171.65
7082.54		Accounts		10289.66

As per our attached Report of even date

For Arun K. Agarwal & Associates
Chartered Accountants

(V. K. Jain)
Partner

Profit & Loss Account

Previous Year Rs. Crores		Expenditure	Current Year Rs. Crores
593.53	1.	Interest	538.96
	2.	Staff Salaries, Allowances etc. and Terminal benefits	10.36
	3.	Directors' and Committee Members
0.05		fees and Expenses	0.06
0.02	4.	Audit Fees	0.01
…	5.	Rent, Taxes, Electricity and Insurance	3.30
0.30	6.	Postage, Telegrams, Telex and Telephones	0.28
1.40	7.	Law Charges	0.12
	8.	Stationery, Printing,
0.65		Advertisement etc.	1.08
1.26	9.	Depreciation	1.88
10.57	10.	Underwriting Commission, Brokerage and Guarantee Fee	9.83
0.53	11.	Travelling Expenses	0.74
2.72	12.	Other Expenditure	3.42
…	13.	Loss in Securities Transaction of 1991-92	150.45
…	14.	Wealth Tax	0.20
…	15.	Deferred Tax	0.06
178.35	16.	Balance of Profit carried down	127.50
793.50			848.25

69.66	17.	Provision for Income Tax	6.76
…	18.	Transferred to Investment Fluctuation Reserve	16.20
… 53.39	19.	Transferred to Special Reserve in terms of Section 36(1)(viii) of Income Tax Act, 1961	35.50
68.09	20.	Balance Carried to Balance Sheet	69.10
191.14			127.56

P.K. Agrawal		P. S. Juneja	P.K. Chattopadhyay
Asst. Gen. Manager		Dy. General Manager	General Manager

A.K.Sohani		R.V.Verma	V. Sridar
Executive Director		Executive Director	Chairman & Managing Director

Directors
'S.B.Mathur	Ashok Kumar	L. M. Mehta	Vepa Kamesam
K.Madhava Rao	Shekhar Agarwal	Wilfred Lakra	A. Bhattacharya
A.K. Samantaray
New Delhi, 25th August, 2003

General Fund

for the year ended 30th June, 2003

Previous Year Rs. Crores		Income (Less provision made during the year for bad and doubtful debts and other necessary and expedient provisions)	Current Year Rs. Crores
746.06	1.	Interest & Discount	676.65
18.92	2.	Income from Investments	38.25
28.52	3.	Other Income	54.67
…	4.	Provisions no longer required, now written back	62.48
…	5.	Provisions & Contingencies (Excess Provision on Investments reversed)	16.20
793.50			848.25
178.35	6.	Balance of Profit brought down	127.50
12.79	7.	Trfd. from Investment Fluctuation Reserve	0.06
191.14			127.56

As per our attached Report of even date

For Arun K. Agarwal & Associates
Chartered Accountants

(V. K. Jain)
Partner

Schedules to the Balance Sheet as on 30th June, 2003
	Previous Year Rs. Crores				Current Year Rs. Crores
		SCHEDULE - I
			CAPITAL
	350.00	1.	Authorised		450.00
	350.00	2.	Issued and Paid-up (wholly subscribed by the Reserve Bank of India)		450.00
	350.00				450.00

		SCHEDULE - II
			RESERVES
	714.00	1.	Reserve Fund		759.00
		2.	Special Fund
70.00			i. Rural Housing Fund Less: Amount borrowed from RBI out of National	…
50.00			Housing Credit (LTO) Fund
(20.00)	…		Less : Transferred to General Reserve
			ii. Slum Improvement & Low Cost
	195.51		Housing Fund		212.48
		3.	Other Reserves
5.00			i. Research & Development Fund	…
15.00			ii. Equity Participation Fund	…
5.00			iii. Savings Incentive for EWS Fund
(25.00)	…		Less : Transferred to General Reserve	…	…
	53.39	4.	Special Reserve in terms of Section 36(1)(viii) of Income Tax Act, 1961		88.89
	3.81	5.	Investment Fluctuation Reserve		19.95
	…	6.	Taxation Reserve		7.38
	…	7.	Staff Benevolent Fund		0.25
	966.71				1087.95

		SCHEDULE - III
			PROFIT & LOSS ACCOUNT
0.73		1.	Opening Balance	0.74
0.00			Balance as per annexed accounts	69.10
…			Add: Transfer from Taxation Reserve Less : Profit of Slum Improvement & Low	0.06	69.90
12.08			Cost Housing Fund Transferred	16.97
		2.	Less: Appropriations
56.00			i. Reserve Fund	45.00
			ii. Taxation Reserve	7.00
			iii. Staff Benevolent Fund	0.25	69.22
	0.74		Balance of Net Profit		0.68

General Fund

	Previous Year Rs. Crores				Current Year Rs. Crores
		SCHEDULE - IV
			BONDS AND DEBENTURES
	475.50	1.	Government Guaranteed Bonds		475.50
		2.	Priority Sector Bonds
725.00			i. Tax-free Bonds	1100.00
1287.40			ii. Taxable Bonds	1935.30
564.00			iii. Special Series Bonds	551.80
	2576.40		(secured by Deposits held outside India)		35.87.10
	0.02	3.	Capital Gain Bonds		1947.92
	3051.92				60.10.52

		SCHEDULE - V
			BORROWINGS
			From Reserve Bank of India
		1.	i. Out of National Housing Credit
	175.00		(Long Term Operations) Fund		175.00
	75.00		ii. Others (Line of Credit)		90.00
		2.	From Other Sources
	855.33		i. In India		630.00
	672.75		ii. Outside India		626.53
	1778.08				1521.53

		SCHEDULE - VI
			CURRENT LIABILITIES AND PROVISIONS
	212.34	1.	Interest Payable		189.49
	78.04	2.	Interest & Instalments received in advance etc.		51.53
	4.67	3.	Expenses Payable		8.31
	131.19	4.	Provisions for NPA's / Std. Assets/ Contingencies etc.		152.42
	426.24				401.75

		SCHEDULE - VII
			OTHER LIABILITIES
	27.49	1.	Unsettled transactions of 1991-92		0.09
	321.48	2.	Sundry Deposits etc.		245.49
	348.97				245.58

		SCHEDULE - VIII
			CASH & BANK BALANCES
		1.	Cash/ Cheques in Hand		0.69
	0.50	2.	'Balance with Reserve Bank of India		0.07
		3.	Balance with other Banks
			i. In India
0.62			Current Account	11.17
429.62			Term Deposit	1770.33
	430.24				1781.50
	586.44		ii. Outside India		545.46
	1017.18		@ Amount less than Rupees 0.50 lac		2327.72

National Housing Bank General Fund

Previous Year Rs. Crores			Current Year Rs. Crores
	SCHEDULE - IX
		INVESTMENTS
24.05	1.	Securities of Central and State Governments – at cost or market value, whichever is less	145.71
15.13	2.	Stocks, shares, bonds, debentures and Securities of Housing Finance Institutions	11.94
139.58	3.	Stocks, shares, bonds, debentures and Securities of other Institutions	229.37
178.76			387.02

	SCHEDULE -X
		LOANS AND ADVANCES
	1.	Housing Finance Institutions
3750.29		i. Housing Finance Companies	4628.61
448.51		ii. Co-operative Housing Finance Societies	522.03
	2.	Scheduled Banks
156.57		i. Commercial Banks	856.32
0.44		ii. Regional Rural Banks	2.25
54.35		iii. Urban Co-operative Banks	79.61
	3.	State Cooperative Agricultural Rural
535.36		Development Banks/Land Development Banks	522.10
259.42	4.	Others	272.47
5204.94			6883.39

	SCHEDULE - XI
		FIXED ASSETS (At Cost less depreciation)
9.73	1.	Land	9.60
16.22	2.	Premises	20.11
1.31	3.	Others	2.12
27.26			31.83

	SCHEDULE - XII
		OTHER ASSETS
202.35	1.	Interest/Discount Receivable/Accrued	237.07
292.17	2.	Prepaid Expenses, Advances, Receivables etc.	250.60
494.52			487.67

General Fund

as at 30th June, 2003