The Directors, in preparation of the annual accounts for the year ended
March 31, 2023, confirm the following:

• That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation relating to material
departures. 

That they had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent, so as to
give a true and fair view of the state of affairs of the 

Bank at the end of the financial year and of the profit or loss of the
Bank for the period. 

That they had taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of applicable laws governing
Banks in India for safeguarding the assets of the Bank and for preventing and detecting
fraud and other irregularities.

That they had prepared the annual accounts on a going concern basis. 

Internal financial controls followed by the Bank are in accordance with
guidelines and that such internal financial controls are adequate and were operating
effectively. 

The directors had devised proper systems to ensure compliance with the
provision of all applicable laws and that such systems were adequate and operating
effectively.



SECRETARIAL AUDIT FOR FINANCIAL YEAR 2022-23

Pursuant to the requirements of Regulation 24A of the 

SEBI (LODR) Regulations, 2015 & SEBI Circular CIR/CFD/ CMD1/27/2019
dated February 08, 2019, the Bank has appointed S. KEDARNATH & ASSOCIATES, Practicing
Company Secretary (CP No. 4422) as the Secretarial

Auditor for 2022-23 and their report addressed to the members of the
Bank which forms part of this Annual Report is attached as an annexure to the 

Board?s report.



ACKNOWLEDGEMENT

The Board wishes to place on record its sincere appreciation to the
customers for their patronage, to the shareholders for their support, to the Government
authorities and the Reserve Bank of India for their valuable guidance and support, to the
Directors who completed their tenure during the financial year under review, to the
Bank?s Correspondents in India and abroad for their co-operation and goodwill and to
all the Staff Members for their full support in the pursuit of organizational growth and
excellence.



K. SATYANARAYANA RAJU 

MANAGING DIRECTOR & CEO