FORWARD-LOOKING STATEMENTS

This Prospectus contains certain “forward-looking statements”. These forward-looking statements generally can be identified by
words or phrases such as “aim”, “anticipate”, “believe”, “expect”, “estimate”, “intend”, “objective”, “plan”, “propose”, “project”,
“will”, “will continue”, “will pursue” or other words or phrases of similar import. Similarly, statements that describe our
strategies, objectives, plans or goals are also forward-looking statements. All forward-looking statements are subject to risks,
uncertainties, expectations and assumptions about us that could cause actual results to differ materially from those contemplated

by the relevant forward-looking statement.

Actual results may differ materially from those suggested by forward-looking statements due to risks or uncertainties associated
with expectations relating to and including, regulatory changes pertaining to the industries in India in which we operate and our
ability to respond to them, our ability to successfully implement our strategy, our growth and expansion, technological changes,
our exposure to market risks, general economic and political conditions in India which have an impact on its business activities
or investments, the monetary and fiscal policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign
exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in
domestic laws, regulations and taxes and changes in competition in the industries in which we operate.

Certain important factors that could cause actual results to differ materially from our expectations include, but are not limited to,
the following:

. Impacts of COVID-19 are highly unpredictable and could be significant, and may have an adverse effect on our
business, operations and our future financial performance;

° Our business is currently significantly dependent on advances to inclusive finance (JLG) customers and any adverse
developments in the microfinance sector could adversely affect our business, financial condition, results of operations
and cash flows;

. Banks in India, including our Bank, are subject to stringent regulatory requirements and prudential norms and our
inability to comply with such laws, regulations and norms may have an adverse effect on our business, results of
operations, financial condition and cash flows;

. Our business is vulnerable to interest rate risk, and any volatility in interest rates or inability to manage interest rate risk
could adversely affect our Net Interest Margins, business, financial condition, results of operations and cash flows; and

. We have a limited operating history as an SFB and our future financial and operational performance cannot be evaluated
on account of our evolving and growing scale of operations.

For details regarding factors that could cause actual results to differ from expectations, see “Risk Factors”, “Our Business” and
“Management's Discussion and Analysis of Financial Condition and Results of Operations” beginning on pages 22, 141 and 306,
respectively. By their nature, certain market risk disclosures are only estimates and could be materially different from what
actually occurs in the future. As a result, actual gains or losses could materially differ from those that have been estimated.

    

There can be no assurance to Bidders that the expectations reflected in these forward-looking statements will prove to be correct.
Given these uncertainties, Bidders are cautioned not to place undue reliance on such forward-looking statements and not to
regard such statements to be a guarantee of our future performance.

Forward-looking statements reflect current views as on the date of this Prospectus and are not a guarantee of future performance.
These statements are based on our management’s beliefs and assumptions, which in turn are based on currently available
information. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any
of these assumptions could prove to be inaccurate, and the forward-looking statements based on these assumptions could be
incorrect. Neither our Bank, our Directors, the Selling Shareholders, the BRLMs nor any of their respective affiliates have any
obligation to update or otherwise revise any statements reflecting circumstances arising after the date hereof or to reflect the
occurrence of underlying events, even if the underlying assumptions do not come to fruition. In accordance with the SEBI ICDR.
Regulations, our Bank and the Book Running Lead Managers will ensure that the Bidders in India are informed of material
developments until the time of the grant of listing and trading permission by the Stock Exchanges for the Issue.

In accordance with requirements of SEBI and as prescribed under applicable law, each of the Selling Shareholders (severally
and not jointly) will ensure that the Bidders in India are informed of material developments, in relation to the statements and
undertakings specifically undertaken or confirmed by such Selling Shareholder in relation to itself as a Selling Shareholder and
its respective portion of the Offered Shares in this Prospectus, from the date hereof, until the date of Allotment. Only statements
and undertakings which are specifically confirmed or undertaken by each Selling Shareholder, in relation to itself as a Selling
Shareholder and its respective portion of the Offered Shares, as the case may be, in this Prospectus shall be deemed to be
statements and undertakings made by such Selling Shareholder.

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