CASH AND CASH EQUIVALENTS
|6 Months Ended|
Sep. 30, 2023
|Cash and Cash Equivalents [Abstract]|
|CASH AND CASH EQUIVALENTS||CASH AND CASH EQUIVALENTS
As of September 30, 2023, and March 31, 2023, cash and cash equivalents consisted of the following:
As of September 30, 2023, and March 31, 2023, cash and cash equivalents were not insured. As of September 30, 2023, and March 31, 2023, the cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements on the terms presented below:
The securities received by the Group as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Group under reverse repurchase agreements as of September 30, 2023, and March 31, 2023, was $72,160 and $31,165, respectively.
As of September 30, 2023 and March 31, 2023, securities purchased under reverse repurchase agreements included accrued interest in the amount of $38 and $11, with a weighted average maturity of 5 days and 9 days, respectively. All securities repurchase agreements transactions were executed through the Kazakhstan Stock Exchange.
The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef