Financial Results

	Items	31.03.2016 AUDITED Rs. Lakhs
A.	LIABILITIES
i.	Paid up capital	439.90
ii.	Reserves and Surplus	15480.85
iii.	Deposits	68896.56
iv.	Borrowings	6630.30
v.	Other liabilities	1974.52
	TOTAL	93422.13
B.	ASSETS
i.	Cash in hand / bank balances	1679.79
ii.	Balance with bank & Money at call and short notice	181096.16
iii.	Investment	30524.29
iv.	Loans & advances	36063.62
v.	Fixed Asset	1296.68
vi.	Other assets	5748.59
	TOTAL	93422.13
	Growth (%)	12.84%

AUDITOR’S REPORT

To the Members of Andaman & Nicobar State Cooperative Bank Ltd

Report on the Financial Statements:

We have audited the financial statements of “Andaman & Nicobar State Cooperative Bank Limited” Port Blair, Andaman which comprise the Balance Sheet as at March 31st March 2016, the Receipts and Payment Account and Income and Expenditure Account for the year then ended.

Management’s Responsibility for the Financial Statements:

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the institution in accordance with the Accounting Standards generally accepted in India. This responsibility includes the design, implementation and maintenance of Internal Control relevant to the preparation and fair presentation of the Financial Statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility:

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Standards on Auditing issued by the Institute of Chartered Accountants of India. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free from material mis-statement,
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The Procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our Audit opinion.

Opinion

In our opinion, and to the best of our information and according to the explanation given to us, the financial statements gives the information required by the act in the manner so required as give a true & fair view in conformity with the accounting principles generally accepted in India.:
(a) In the case of the Balance Sheet, of the state of affairs of the Branch as at 31st March, 2016; and
(b) In the case of Profit and Loss Account, of the Profit/Loss for the year ended on that date;