The fund requirements set out for the aforesaid objects are proposed to be funded from the Net Proceeds. Accordingly,
our Bank confirms that there is no requirement to make firm arrangements of finance through verifiable means towards
at least 75% of the stated means of finance, excluding the amount to be raised from the Issue and existing identifiable
accruals as required under the SEBI ICDR Regulations.

Interim use of Net Proceeds

Our Bank, in accordance with the policies established by the Board from time to time, will have the flexibility to deploy
the Net Proceeds. Pending utilization of the Net Proceeds for the purpose described above, our Bank will temporarily
invest the Net Proceeds in deposits in one or more scheduled commercial banks included in the Second Schedule of
Reserve Bank of India Act, 1934 as may be approved by our Board. In accordance with Section 27 of the Companies Act,
2013, our Bank confirms that it shall not use the Net Proceeds for buying, trading or otherwise dealing in equity shares
of any other listed company.

Monitoring of Utilization of Funds

In terms of the proviso to Regulation 41(1) of the SEBI ICDR Regulations, our Bank is not required to appoint a
monitoring agency for this Issue. To the extent applicable, our Bank will disclose the utilization of the Net Proceeds under
a separate head in our balance sheet along with the relevant details, for all such amounts that have not been utilised.

Our Bank will indicate investments, if any, of unutilised Net Proceeds in the balance sheet of our Bank for the relevant
Fiscals upon the receipt of listing and trading approvals from the Stock Exchanges.

Pursuant to the Listing Regulations, our Bank shall, on a quarterly basis, disclose to the Audit Committee the uses and
applications of the Net Proceeds. The Audit Committee shall make recommendations to the Board for further action, if
appropriate. On an annual basis, our Bank shall prepare a statement of funds utilized for purposes other than those stated
in this Prospectus and place it before the Audit Committee and make other disclosures as may be required until such time
as the Net Proceeds remain unutilized. Such disclosure shall be made only until such time that all the Net Proceeds have
been utilized in full. The statement shall be certified by the Statutory Auditor of our Bank.

Further, in accordance with the Listing Regulations, our Bank shall furnish to the Stock Exchanges on a quarterly basis,
a statement indicating (i) deviations, if any, in the actual utilization of the Net Proceeds from the objects of the Issue as
stated above; and (ii) details of category wise variations in the actual utilization of the Net Proceeds from the objects of
the Issue as stated above. In accordance with the SEBI Listing Regulations, this information will also be published in
newspapers simultaneously with the interim or annual financial results of our Bank, after review by our Audit Committee
and its explanation in the directors’ report.

Variation in Objects

In accordance with Sections 13(8) and 27 of the Companies Act and applicable rules, our Bank shall not vary the objects
of the Issue without our Bank being authorised to do so by the Shareholders by way of a special resolution. In addition,
the notice issued to the Shareholders in relation to the passing of such special resolution (the “Notice”) shall specify the
prescribed details, including justification for such variation and be published and placed on website of our Bank, in
accordance with the Companies Act, 2013, read with relevant rules.

The Notice shall simultaneously be published in the newspapers, one in English and one in the vernacular language of
the jurisdiction where our Registered and Corporate Office is situated. Pursuant to Section 13(8) of the Companies Act,
2013, the Promoters or controlling Shareholders will be required to provide an exit opportunity to the Shareholders who
do not agree to such proposal to vary the objects, subject to the provisions of the Companies Act, 2013 and in accordance
with such terms and conditions, including in respect of pricing of the Equity Shares, in accordance with our Articles of
Association, the Companies Act, 2013 and the SEBI ICDR Regulations.

Other Confirmations

No part of the Net Proceeds will be utilized by our Bank as consideration to our Promoters, members of the Promoter
Group, Directors or Key Managerial Personnel for any material existing or anticipated transactions. Our Bank has not
entered into and is not planning to enter into any arrangement/ agreements with the Promoter, Directors, and Key
Managerial Personnel in relation to the utilization of the Net Proceeds. Further, except in the ordinary course of business,
there is no existing or anticipated interest of such individuals and entities in the objects of the Fresh Issue as set out above.

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