SECTION VIII: MAIN PROVISION OF ARTICLES OF ASSOCIATION

Capitalised terms used in this section have the meaning that has been given to such terms in the Articles of Association of our
Bank. Pursuant to Schedule I of Companies Act, 2013 and the SEBI ICDR Regulations, the main provisions of the Articles of
Association of our Bank are detailed below:

The Articles of Association of our Bank comprise of two parts, Part A and Part B, which parts shall, unless the context otherwise
requires, co-exist with each other. In case of inconsistency between Part A and Part B, the provisions of Part B shall prevail.

Part B shall automatically terminate and cease to have any force and effect from the date of listing of Equity Shares of our Bank
on a recognized stock exchange in India pursuant to the Issue and the provisions of Part A shall continue to be in effect and be
in force, without any further corporate or other action, by our Bank or by the Shareholders.

PARTA
Share Capital

Article 5 provides that, “The authorised capital of the Company will be as stated in Clause V of the Memorandum from time to
time with power to reclassify, increase or reduce the said capital and to issue any part of its capital (original or increased) with
or without any priority or special privilege subject to compliance with the 1949 Act, the Act, the Guidelines or any other rules
under Applicable Law.”

Article 6 provides that, “Subject to the provisions of Section 61 of the Act, the Company in a General Meeting may by ordinary
resolution, alter its Memorandum to:

ji increase its authorised share capital by such amount as it thinks expedient;

(ii) consolidate and divide all or any of its share capital into shares of larger amount than its existing shares;

(iii) convert all or any of its fully paid up shares into stock and reconvert that stock into fully paid up shares of any
denominations;

(iv) sub-divide its existing shares or any of them into shares of smaller amount than is fixed by the Memorandum, so

however, that in the sub-division the proportion between the amount paid and the amount, if any, unpaid on each reduced
share shall be the same as it was in the case of the share from which the reduced share is derived;

(v) cancel shares which, at the date of the passing of the resolution in that behalf, have not been taken or agreed to be taken
by any Person, and diminish the amount of its share capital by the amount of the shares so cancelled. A cancellation of
shares in pursuance of this Article shall not be deemed to be a reduction of share capital.”

Article 7 provides that, “A further issue of shares may be made in any manner whatsoever as the Board may determine including
by way of public offer, preferential offer or private placement, subject to and in accordance with the Act and the Rules. Subject
to the provisions of Applicable Laws, 1949 Act and Section 63 of the Act, the Company may issue fully paid-up bonus shares to
its members by capitalizing its profits or reserves.”

Article 8 provides that, “In accordance with Section 62 of the Act, where at any time, it is proposed to increase its subscribed
capital by the issue/allotment of further Shares, such further Shares may be offered to:

@ persons who, at the date of offer, are holders of Shares of the Company, in proportion, as nearly as circumstances admit,
to the capital paid up on those Shares by sending a letter of offer subject to the following conditions: (i) the offer shall
be made by notice, dispatched through registered post or speed post or through electronic mode or courier or any other
mode having proof of delivery to all shareholders at least three days before opening of the offer, specifying the number
of Shares offered and limiting a time not being less than 15 (fifteen) days and not exceeding 30 (thirty) days from the
date of the offer within which the offer, if not accepted, will be deemed to have been declined; (ii) the offer aforesaid
shall be deemed to include a right exercisable by the person concerned to renounce the Shares offered to him or any of
them in favour of any other person and the notice referred to in (i) shall contain a statement of this right; and (iii) after
expiry of the time specified in the notice aforesaid, or on receipt of earlier intimation from the person to whom such
notice is given that he declines to accept the Shares offered, the Board may dispose of them in such manner which is
not disadvantageous to the Members and the Company;

Nothing in sub-Article (a) (ii) above shall be deemed to extend the time within which the offer should be accepted; or

to authorize any person to exercise the right of renunciation for a second time on the ground that the person in whose
favour the renunciation was first made has declined to take the shares comprised in the renunciation.

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