13 CASH AND CASH EQUIVALENTS GROUP COMPANY Sep-23 MUR m Sep-22 MUR m Sep-23 MUR m Sep-22 MUR m Cash and bank balances 397.8 681.8 304.7 593.3 Bank overdrafts (180.3) (72.7) (119.7) (5.3) Cash and cash equivalents 217.5 609.1 185.0 588.0 The bank overdrafts are secured by floating charges on the assets of the borrowing companies. The rate of interest varies between 4.8% and 17.1% (2022: 5.15% and 12%) for the bank overdrafts. 14 DEPOSITS WITH BANKS GROUP & COMPANY Sep-23 MUR m Sep-22 MUR m Deposit with banks 491.1 483.3 Expected credit loss (0.4) (0.4) 490.7 482.9 The deposit with banks are analysed as follows: Current 269.8 131.0 Non current 220.9 351.9 490.7 482.9 GROUP & COMPANY Gross carrying amount ECL Stage 1 Stage 1 MUR m MUR m At 1 October 2022 483.3 0.4 Additions 157.0 – Recovered (147.0) – Exchange difference (2.2) – At 30 September 2023 491.1 0.4 GROUP & COMPANY Gross carrying amount ECL Stage 1 Stage 1 MUR m MUR m At 1 October 2021 426.7 0.6 Additions 188.0 (0.2) Recovered (131.2) – Movement in ECL (0.2) – At 30 September 2022 483.3 0.4 The above deposits carry interest rates ranging between 2.80% and 4.25% and have maturity dates ranging from October 2023 to November 2026. All the deposits are performing and classified under stage 1. 143 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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