v3.26.1
Credit substitutes
12 Months Ended
Mar. 31, 2026
Text Block [Abstract]  
Credit substitutes
8. Credit substitutes
Credit substitutes consist of securities that the Bank invests in as part of an overall extension of credit to certain customers. Such securities share many of the risk and reward characteristics of loans and are managed by the Bank together with other credit facilities extended to the same customers. The fair value of credit substitutes by type of instrument as of March 31, 2025 and March 31, 2026 were as follows:
 
    
As of March 31,
 
    
2025
    
2026
 
    
Amortized Cost
    
Fair Value
    
Amortized Cost
    
Fair Value
 
    
(In millions)
 
Available for sale credit substitute debt securities:
           
Debentures
   Rs. 160,975.7      Rs. 161,147.8      Rs. 273,510.3      Rs. 272,979.5  
Preference shares
     332.8        31.8        181.1        43.6  
  
 
 
    
 
 
    
 
 
    
 
 
 
Total
   Rs.  161,308.5      Rs.  161,179.6      Rs. 273,691.4      Rs. 273,023.1  
  
 
 
    
 
 
    
 
 
    
 
 
 
         US$ 2,916.9      US$ 2,909.8  
        
 
 
    
 
 
 
The fair value of credit substitutes by the Bank’s internal credit quality indicators and amounts provided for
non-performing
credit substitutes is as follows:
 
    
As of March 31,
 
    
2025
    
2026
    
2026
 
    
(In millions)
 
Performing
   Rs. 161,179.6      Rs. 273,023.1      US$ 2,909.8  
Non-performing—gross
balance
     —         —         —   
Less: Non-performing losses
     —         —         —   
  
 
 
    
 
 
    
 
 
 
Non-performing
credit substitutes, net
     —         —         —   
  
 
 
    
 
 
    
 
 
 
Total credit substitutes, net
   Rs.  161,179.6      Rs.  273,023.1      US$  2,909.8  
  
 
 
    
 
 
    
 
 
 
 
 
    
As of March 31,
 
    
2025
    
2026
    
2026
 
    
(In millions)
 
Gross
non-performing
credit substitutes
   Rs
 
.
 —       Rs
 
.
 —       US$ —   
Gross
non-performing
credit substitutes by industry
   Rs.  —       Rs.  —       US$ —   
Average
non-performing
credit substitutes
   Rs.  —       Rs.  —       US$ —   
Interest income recognized on
non-performing
credit substitutes
   Rs.   —       Rs.   —       US$  —   
As of March 31, 2026, the Bank has no additional funds committed to borrowers whose credit substitutes were
non-performing.