cash in hand, deposits held at call with financial institutions, other short term investments with original maturity of 90 days or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings in current liabilities. For the purpose of the consolidated statement of cash flows, cash equivalents are held for the purpose of meeting short term cash commitments rather than for investment or other purposes. Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Cash in hand and at bank 3,548.8 2,334.2 323.5 124.7 Deposits with licensed banks and financial institution 15,841.7 2,559.2 13,003.1 623.5 19,390.5 4,893.4 13,326.6 748.2 NOTES TO THEFINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 256 22 DEPOSITS, BANK AND CASH BALANCES (CONTINUED) The interest rates per annum of bank balances and deposits with licensed banks that were effective as at the end of the reporting date were as follows: Group Company 2023 % 2022 % 2023 % 2022 % Bank balances 0.1 - 3.9 0.1 - 2.7 0.1 - 2.9 0.1 - 2.7 Deposits with licensed banks and financial institution 0.5 - 5.6 0.1 - 4.3 3.3 - 5.5 0.1 - 4.3 Deposits with licensed banks have maturity periods ranging from 1 to 365 days (2022: 1 to 365 days) for the Group and 9 to 90 days (2022: 1 to 77 days) for the Company. Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Cash and cash equivalents comprise: - Cash in hand and at bank 3,548.8 2,334.2 323.5 124.7 - Deposits with licensed banks and financial institution 15,841.7 2,559.2 13,003.1 623.5 Deposits, bank and cash balances 19,390.5 4,893.4 13,326.6 748.2 Debt reserve account* (511.2) (153.7) 0 0 Cash at bank held in trust** (222.8) (265.6) 0 0 Restricted cash (8.2) (8.5) 0 0 Deposits with maturity of more than 90 days (1,423.1) (409.5) 0 0 T otal cash and cash equivalents 17,225.2