Our business has been subject, and we expect it to continue to be subject, to significant economic changes that materially affect
or are likely to affect income from continuing operations identified above in “~ Factors affecting our Results of Operations and
Financial Condition” and the uncertainties described in “Risk Factors” beginning on pages 308 and 22, respectively.

NEW PRODUCTS OR BUSINESS SEGMENTS

Except as described in this Prospectus, we have not publicly announced any new products or business segments nor have there
been any material increases in our revenues due to increased disbursements and introduction of new products.

FUTURE RELATIONSHIP BETWEEN COST AND INCOME

Other than as described elsewhere in the sections “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, to our knowledge, there
are no known factors that will have a material adverse impact on our operations and financial condition.

SIGNIFICANT DEPENDENCE ON A SINGLE OR FEW CUSTOMERS OR SUPPLIERS

Given the nature of our business operations, we do not believe our business is dependent on any single or a few customers.
COMPETITIVE CONDITIONS

We operate in a competitive environment. See sections, “Our Business”, “Industry Overview”, “Risk Factors - The Indian
banking industry is very competitive and our growth strategy depends on our ability to compete effectively.” and “~ Factors
affecting our Results of Operations and Financial Condition — Competition” beginning on pages 141, 112, 39 and 308,
respectively.

SEASONALITY/ CYCLICALITY OF BUSINESS

Our business operations are not seasonal in nature.

SIGNIFICANT DEVELOPMENTS AFTER DECEMBER 31, 2020 THAT MAY AFFECT OUR FUTURE RESULTS
OF OPERATIONS

Other than as disclosed above and elsewhere in this Prospectus including disclosure with respect to the impact of COVID-19
on our operations, to our knowledge no circumstances have arisen since December 31, 2020, that could materially and adversely
affect or are likely to affect, our operations or profitability, or the value of our assets or our ability to pay our material liabilities
within the next 12 months.

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