78.

India is not a party to any international treaty in relation to the recognition or enforcement of foreign judgments.
Recognition and enforcement of foreign judgments is provided for under Section 13, 14 and Section 44A of the Code of
Civil Procedure, 1908 (“Civil Code”) on a statutory basis. Section 44A of the Civil Code provides that where a certified
copy of a decree of any superior court, within the meaning of that Section, obtained in any country or territory outside
India which the government has by notification declared to be in a reciprocating territory, may be enforced in India by
proceedings in execution as if the judgment had been rendered by a district court in India. However, Section 44A of the
Civil Code is applicable only to monetary decrees and does not apply to decrees for amounts payable in respect of taxes,
other charges of a like nature or in respect of a fine or other penalties and does not apply to arbitration awards (even if
such awards are enforceable as a decree or judgment).

Under the provisions of the International Finance Corporation (Status, Immunities and Privileges) Act, 1958 and the United
Nations (Privileges and Immunities) Act, 1947, IFC, one of our Selling Shareholders, has certain immunities, including
from legal process, search, requisition, confiscation, expropriation or any other seizure or attachment in respect of its
properties and assets, in India. Additionally, all officers and employees of IFC are immune from legal process with respect
to acts performed by them in their official capacity. There can be no assurance that you will be able to institute or enforce
any action against IFC in India. Similar limitations may exist in other jurisdictions including the United States of America.

The United Kingdom, Singapore and Hong Kong have been declared by the government to be reciprocating territories for
the purposes of Section 44A of the Civil Code. The United States has not been declared by the Government of India to be
a reciprocating territory for the purposes of Section 44A of the Civil Code. A judgment of a court of a country which is
not a reciprocating territory may be enforced in India only by a suit upon the judgment under Section 13 of the Civil Code,
and not by proceedings in execution. Section 13 of the Civil Code provides that foreign judgments shall be conclusive
regarding any matter directly adjudicated upon except: (i) where the judgment has not been pronounced by a court of
competent jurisdiction; (ii) where the judgment has not been given on the merits of the case; (iii) where it appears on the
face of the proceedings that the judgment is founded on an incorrect view of international law or refusal to recognize the
law of India in cases to which such law is applicable; (iv) where the proceedings in which the judgment was obtained were
opposed to natural justice; (v) where the judgment has been obtained by fraud; and/ or (vi) where the judgment sustains a
claim founded on a breach of any law then in force in India. The suit must be brought in India within three years from the
date of judgment in the same manner as any other suit filed to enforce a civil liability in India.

Further, there are considerable delays in the disposal of suits by Indian courts. It may be unlikely that a court in India
would award damages on the same basis as a foreign court if an action is brought in India. Furthermore, it may be unlikely
that an Indian court would enforce foreign judgments if it viewed the amount of damages awarded as excessive or
inconsistent with public policy in India. A party seeking to enforce a foreign judgment in India is required to obtain prior
approval from the RBI under FEMA to repatriate any amount recovered pursuant to execution and any such amount may
be subject to income tax in accordance with applicable laws. Any judgment or award in a foreign currency would be
converted into Indian Rupees on the date of the judgment or award and not on the date of the payment.

Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.

Indian legal principles related to corporate procedures, directors’ fiduciary duties and liabilities, and shareholders’ rights
may differ from those that would apply to a bank in another jurisdiction. Shareholders’ rights including in relation to class
actions, under Indian law may not be as extensive as shareholders’ rights under the laws of other countries or jurisdictions.
Investors may have more difficulty in asserting their rights as shareholder in an Indian bank than as shareholder of a
corporation in another jurisdiction.

Risks Relating to the Equity Shares

79.

80.

Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the
value of our Equity Shares, independent of our operating results.

On listing, our Equity Shares will be quoted in Indian Rupees on the Stock Exchanges. Any dividends in respect of our
Equity Shares will also be paid in Indian Rupees and subsequently converted into the relevant foreign currency for
repatriation, if required. Any adverse movement in currency exchange rates during the time taken for such conversion may
reduce the net dividend to foreign investors. In addition, any adverse movement in currency exchange rates during a delay
in repatriating the proceeds from a sale of Equity Shares outside India, for example, because of a delay in regulatory
approvals that may be required for the sale of Equity Shares may reduce the proceeds received by Shareholders. For
example, the exchange rate between the Indian Rupee and the U.S. dollar has fluctuated substantially in recent years and
may continue to fluctuate substantially in the future, which may have an adverse effect on the returns on our Equity Shares,
independent of our operating results.

Investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they are Allotted
in the Issue.

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