| Long-term debt |
18. Long-term debt Long-term debt as of March 31, 2025 and March 31, 2026 are comprised of the following:
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| Subordinated debt |
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Rs. |
431,896.9 |
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Rs. 434,254.3 |
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US$ |
4,628.0 |
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| Others |
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5,436,429.4 |
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4,686,148.0 |
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49,943.0 |
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| Debt issuance cost |
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(2,163.1 |
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(968.3 |
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(10.3 |
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| Total |
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Rs. |
5,866,163.2 |
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Rs. 5,119,434.0 |
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US$ |
54,560.7 |
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| The below table presents the balance of long-term debt as of March 31, 2025 and March 31, 2026 and the related contractual rates and maturity dates:
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| Subordinated debt |
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| Subordinated debt (other than perpetual debt) |
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2026-2035 |
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6.67% to 9.70% |
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Rs. |
293,902.2 |
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2027-2036 |
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6.67% to 9.70% |
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Rs. 301,895.6 |
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US$ |
3,217.5 |
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| Perpetual debt — (1) |
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2026-2034 |
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7.55% to 9.40% |
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52,272.7 |
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2027-2035 |
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7.55% to 9.40% |
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52,289.7 |
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557.3 |
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| Perpetual debt — (2) |
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2027 |
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3.70% |
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85,291.5 |
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2027 |
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3.70% |
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94,782.3 |
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1,010.1 |
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| Others (*) |
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| Variable rate — (1) |
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2026-2030 |
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4.92% to 6.22% |
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581,229.3 |
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2027-2030 |
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3.94% to 4.79% |
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502,625.5 |
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5,356.8 |
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| Variable rate — (2) |
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2026-2032 |
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6.47% to 8.60% |
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623,118.6 |
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2027-2033 |
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4.56% to 8.30% |
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458,419.1 |
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4,885.6 |
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| Fixed rate — (1) |
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2026-2034 |
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2.80% to 9.05% |
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3,955,489.6 |
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2027-2034 |
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2.80% to 9.05% |
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3,497,412.7 |
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37,273.9 |
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| Fixed rate — (2) |
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2026-2029 |
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4.30% to 8.19% |
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274,859.3 |
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2027-2029 |
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3.55% to 8.19% |
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212,009.1 |
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2,259.5 |
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| Total |
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Rs. |
5,866,163.2 |
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Rs. 5,119,434.0 |
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US$ |
54,560.7 |
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(*) |
Variable rate — (1), Perpetual debt — (2) and Fixed rate — (2) represent foreign currency debt. Variable rate debt is typically indexed to the secured overnight financing rate, T-bill rates, and Marginal cost of funds based lending rates (“MCLR”), among others. | The scheduled maturities of long-term debt are set out below:
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Due in the fiscal year ending March 31: |
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2027 |
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Rs. |
1,215,990.8 |
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US$ |
12,959.5 |
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2028 |
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394,344.9 |
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4,202.8 |
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2029 |
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732,029.5 |
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7,801.7 |
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2030 |
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400,954.5 |
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4,273.2 |
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2031 |
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579,756.5 |
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6,178.8 |
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Thereafter |
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1,649,285.8 |
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17,577.4 |
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Rs. |
4,972,362.0 |
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US$ |
52,993.4 |
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| (1) |
The scheduled maturities of long-term debt do not include perpetual bonds of Rs. 147,072.0 million (net of debt issuance cost). | During the fiscal year ended March 31, 2026 the Bank issued subordinated debt amounting to Rs. 7,000.0 million (previous period Rs. 8,570.0 million) and perpetual debt amounting to nil (previous period nil). During the fiscal year ended March 31, 2026, the Bank also raised other long-term debt amounting to Rs. 853,672.1 million (previous period Rs. 652,656.3 million). As of March 31, 2025 and March 31, 2026, other long-term debt includes foreign currency borrowings from other banks aggregating to Rs. 856,647.3 million and Rs. 714,741.6 million, respectively, and functional currency borrowings aggregating to Rs. 4,579,782.1 million and Rs. 3,971,406.3 million, respectively. |