The audited financial statements for the year ended March 31, 2019 and March 31, 2018 and
the Independent Auditor’s Reports thereon issued by the Previous Auditor have been furnished
to us by the Bank. Upon specific request by the Bank, we have examined and reported on the
restated financial information for the year ended March 31, 2019 and March 31, 2018. The
adjustments in so far as it relates to the amounts, disclosures, material errors, regrouping,
reclassification, etc., included in respect of the year ended March 31, 2019 and March 31,
2018 is restricted to and based solely on the audited financial statements and auditor's reports
issued by the Previous Auditor for such years. We have not performed any additional
procedures other than those stated herein and do not accept any responsibility of whatsoever
nature in this regard.

Based on the above and according to the information and explanations given to us, we report that:

i) Restated Financial Information have been prepared after incorporating adjustments for the
changes in accounting policies, any material errors and regrouping/reclassifications as more
fully described in Annexure 4 to the Restated Financial Information (Restated Statement of
Adjustments to Audited Financial Statements) retrospectively in the nine month period ended
December 31, 2019, financial years as at and for the year March 31, 2020, March 31, 2019, and
March 31, 2018 to reflect the same accounting treatment as per the accounting policies and
grouping/classifications followed as at and for the nine month ended December 31, 2020;

ii

there are no qualifications in the auditor’s reports on the audited financial statements of the
Bank as at and for the nine month ended December 31, 2020 and 2019, years ended March 31,
2020, March 31, 2019 and March 31, 2018, which require any adjustments to the Restated
Financial Information; and

iii) Restated Financial Information have been prepared in accordance with the Act, the SEBI ICDR
Regulations and the Guidance Note.

The Restated Financial Information do not reflect the effects of events that occurred subsequent
to the respective dates of the report on the audited financial statements mentioned in paragraph
4 above.

We draw attention to Note 15 in Annexure 22 to the Restated Financial Information, which
describes that the extent to which the COVID-19 Pandemic will impact the Bank’s financial
statements will depend on future developments, which are highly uncertain.

Our opinion is not modified in respect of this matter.

According to the information and explanations given to us, in our opinion, the Restated Financial
Information, read with Summary of Significant Accounting Policies disclosed in Annexure 21 ,
accompanying this report, are prepared after making adjustments and regroupings as considered
appropriate and disclosed in Annexure 4 and have been prepared in accordance with the Act, SEBI
ICDR Regulations, to the extent applicable, and the Guidance Note.

This report should not in any way be construed as a reissuance or re-dating of any of the previous

auditor’s reports issued by us or by the Previous Auditor, nor should this report be construed as a
new opinion on any of the financial statements referred to herein.

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