REPORT ON THE FINANCIAL STATEMENTS

We, the undersigned Auditors of State Bank of Bikaner & Jaipur (hereinafter referred to as ‘Bank’),
appointed under section 41(1) of the State Bank of India (Subsidiary Banks) Act, 1959, do hereby report
on the Balance Sheet as at 31st March, 2016, the Profit and Loss Account and the Cash Flow Statement
of SBBJ for the year ended on that date:-

1. We have audited the accompanying financial statements of the Bank as at 31st March, 2016, which
   comprise the Balance Sheet as at March 31, 2016, Profit and Loss Account and the Cash Flow Statement
   for the year then ended, and a summary of Significant Accounting Policies and other explanatory information.
   Incorporated in these financial statements are the returns of 20 branches and 8 other offices audited by us
   and 753 branches and 13 processing centres audited by the branch auditors. The branches audited by
   us and those audited by other auditors have been selected by the Bank in accordance with the guidelines
   issued to the Bank by the Reserve Bank of India. Also incorporated in the Balance Sheet and the Profit and
   Loss Account are the returns from 545 branches, 48 processing centres and 9 other offices, which have
   not been subjected to audit. These unaudited branches, processing centres and other offices account for
   6.72% of Advances, 14.34% of Deposits, 4.36% of Interest Income and 12.67% of Interest Expenses of
   the bank.

MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

1. Management of the Bank is responsible for the preparation of these financial statements in accordance
   with The Banking Regulation Act, 1949, State Bank of India (Subsidiary Banks) Act, 1959 and regulations
   framed thereunder, the applicable Accounting Standards issue by the Institute of Chartered Accountants
   of India (‘ICAI’) and in compliance of the guidelines issued by the Reserve Bank of India (‘RBI’) from time to
   time. This responsibility includes the design, implementation and maintenance of internal control relevant to
   the preparation of the financial statements that are free from material misstatement, whether due to fraud
   or error.

AUDITORS’ RESPONSIBILITY:

2. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted
   our audit in accordance with the 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 misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial statements. The procedures selected depend on the auditor's judgement, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the Company’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of entity’s internal control. 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.

3. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
   Audit opinion.

OPINION

4. In our opinion, as shown by books of bank, and to the best of our information and according to the
   explanations given to us:

1. The Balance Sheet, read with the notes thereon is a full and fair Balance Sheet containing all the

necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank
as at 31st March 2016 in conformity with accounting principles generally accepted in India;

1. The Profit and Loss Account, read with the notes thereon shows a true balance of profit in conformity with
   accounting principles generally accepted in India, for the year covered by the account; and

    

2. The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

5. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms “A” and “B” respectively
   of the Third Schedule to the Banking Regulation Act, 1949.

    

6. Subject to the limitations of the audit indicated in paragraph 1 to 5 above read with disclosures in Notes
   on Accounts and as required by the State Bank of India (Subsidiary Banks) Act, 1959 with the limitations
   of disclosure required therein, we report that:

1. We have obtained all the information and explanations which to the best of our knowledge and
   belief, were necessary for the purposes of our audit and have found them to be satisfactory.

    

2. The transactions of the Bank, which have come to our notice, have been within the powers of the
   Bank; and

The returns received from the offices and branches of the Bank have been found adequate for the
purposes of our audit.

7. We further report that:

1. The Balance Sheet and Profit and Loss account dealt with by this report are in agreement with the
   books of account and returns;

    

2. The reports on the accounts of the branch offices audited by branch auditors of the Bank under
   section 29 of the Banking Regulation Act, 1949 have been sent to us and have been properly dealt
   with by us in preparing this report;

    

3. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement comply with
   the applicable Accounting Standards.

(CA Vikas Gupta) (CA Sant Sujat Soni) (CA Mahesh Solanki) (CA Raj Kumar Batra)

(M.No. 077076 ) (M.No.094227) (M.No.074991) (M.No.006458)

Partner Partner Partner Partner

Place: Mumbai
29th April, 2016