55.

56.

57,

58.

59.

We have in the past entered into related party transactions and may continue to do so in the future, which may
potentially involve conflicts of interest.

It is likely that we may enter into related party transactions in the future. All related party transactions that we may enter

into, will be subject to board or shareholders’ approval, as necessary under the Companies Act, 2013 and the SEBI Listing

Regulations, we cannot assure you that such transactions, individually or in the aggregate, will not have an adverse effect

on our financial condition, cash flows and results of operations or that we could not have achieved more favorable terms

if such transactions had not been entered into with related parties. Such related party transactions may potentially involve

conflicts of interest. For further information, see “Financial Information — Restated Financial Statements — Annexure 22
Note 28 - Related Party Transactions” on page 299.

Industry information included in this Prospectus has been derived from the CRISIL Report commissioned by our Bank
for such purpose. The CRISIL Report is not exhaustive and is based on certain assumptions and parameters/
conditions. There can be no assurance that such third-party statistical, financial and other industry information is
either complete, reliable or accurate.

We have commissioned the services of an independent third party research agency, CRISIL Limited, to prepare an industry
report titled “Report on Small Finance Banks and various loan products” dated September 2020, for purposes of inclusion
of such information in this Prospectus. This report is subject to various limitations and based upon certain assumptions
that are subjective in nature. We have not independently verified data from this industry report and do not guarantee the
accuracy and completeness of the report. While we have taken reasonable care in the reproduction of the information, the
information has not been prepared or independently verified by us, the Selling Shareholders or the BRLMs or any of our
or their respective affiliates or advisors or any other person connected with the Issue and, therefore, neither we nor any of
the Selling Shareholders or the BRLMs or any of our or their respective affiliates or advisors make any representation or
warranty, express or implied, as to the accuracy or completeness of such facts and statistics. Due to possibly flawed or
ineffective collection methods or discrepancies between published information and market practice and other problems,
the information in such report may be inaccurate or may not be comparable to statistics produced for other economies and
should not be unduly relied upon. Further, there is no assurance that they are stated or compiled on the same basis or with
the same degree of accuracy as may be the case elsewhere. Statements from third parties that involve estimates are subject
to change, and actual amounts may differ materially from those included in this Prospectus.

Our customers may engage in certain transactions in or with countries or persons that are subject to international
economic sanctions.

Various international jurisdictions, including the United States and the United Kingdom, restrict investments or otherwise
doing business in or with certain countries or territories and with certain persons or businesses that have been specially
designated by such government agencies. Other governments and international or regional organizations also administer
similar economic sanctions.

Although we believe we have compliance systems in place that are sufficient to block prohibited transactions, and we have
not been notified that any penalties or other measures will be imposed on us, there can be no assurance that will be able to
fully monitor all of our transactions for any potential violation.

There can be no assurance that our future business will be free of risk under sanctions implemented by these jurisdictions
or that we will be able to conform our business operations to the expectations and requirements of such international
regulatory agencies that do not have jurisdiction over our business but nevertheless assert the right to impose sanctions on
an extraterritorial basis. Further, investors in the Equity Shares could incur reputational or other risks as a result of our or
our customers’ dealings in or with sanctioned countries or with persons that are the subject of such sanctions.

The trading in our non-convertible debentures may be infrequent, limited or sporadic, which may affect our ability to
raise debt financing in future.

Our non-convertible debentures are listed on the debt segment of BSE. Trading in our debt securities has been limited and
‘we cannot assure you that the debt securities will be frequently traded on BSE or that there would be any market for our
debt securities. Further, we cannot predict if and to what extent a secondary market may develop for the debt securities or
at what price such debt securities will trade in the secondary market or whether such market will be liquid or illiquid.

Our funding requirements and the proposed deployment of Net Proceeds have not been appraised and our management
will have broad discretion over the use of the Net Proceeds.

We propose to use the Net Proceeds towards augmenting our Bank’s Tier — 1 capital base to meet our Bank’s future capital

requirements such as organic growth and expansion and to comply with the regulatory requirements for enhanced capital
base, as may be prescribed in the future. Our proposed deployment of Net Proceeds has not been appraised and it is based

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