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Further, a number of our lease agreements as well as license agreements are due to expire in the next three to five years,
and in case of non-renewal of our leases or licenses or if such agreements are renewed on unfavorable terms and conditions,
we may be forced to procure alternative space for our existing Banking Outlets, Registered Office and Corporate Office
and incur additional costs for such relocation. In addition, certain of our Banking Outlets may be located on premises that
have been or will be mortgaged by landlords to secure credit facilities obtained from lenders. If the lenders enforce the
mortgage on account of any default by the landlords and subsequently, our leasehold arrangements are cancelled or do not
get renewed, or if the parties refuse to renew them on terms that are commercially acceptable to us, we may be compelled
to relocate from such premises. This may cause a disruption in our operations or result in increased costs, or both, which
may materially and adversely affect our business, financial condition, results of operations and cash flows, in respect of
such defaulting premises.

Further, some of our lease agreements may not be adequately stamped or registered with the registering authority of the
appropriate jurisdiction. An instrument not duly stamped, or insufficiently stamped, shall not be admitted as evidence in
any Indian court or may attract a penalty as prescribed under applicable law for admission, which could adversely affect
the continuance of our operations and business. We cannot assure you that we will be able to identify space that satisfies
the operational, safety and other criteria for our Banking Outlets at terms that are commercially viable or at all.

Any non-compliance with law or unsatisfactory service by service providers engaged by us for certain services could
have an adverse impact on our business and results of operations.

We enter into outsourcing arrangements with independent service providers and independent contractors, in compliance
with the RBI guidelines on outsourcing. These service providers and contractors provide services that include, among
others, ATM management, debit card related services, business correspondents, roll out of Banking Outlets, technology
management services related to implementation of hardware, software, networks, data center and disaster recovery. As a
result of outsourcing such services, we are exposed to various risks including strategic, compliance, operational, fraud,
theft, embezzlement, legal and contractual risks. Any failure by a service provider to provide a specified service or a breach
in security/ confidentiality or non-compliance with legal and regulatory requirements, may result in financial loss or loss
of reputation. For instance, in the past, on September 12, 2018, as a result of a technical issue with our core banking
application it resulted in significant downtime of our core banking application. While we did not incur any financial loss,
our customer service was impacted on account of such fault. There can be no assurance that there will be no disruptions
in the provision of such services or that these third parties will adhere to their contractual obligation. If there is a disruption
in the service providers’ services, or if the service providers discontinue their service agreement with us, our business,
financial condition, cash flows and results of operations may be adversely affected. We cannot assure you that the terms
of such agreements will not be breached, and in case of any dispute, it may result in litigation costs. Such additional cost,
in addition to the cost of entering into agreements with third parties in the same industry, may materially and adversely
affect our business, financial condition, results of operations and cash flows. The “Guidelines on Managing Risks and
Code of Conduct in Outsourcing of Financial Services by Bank” issued by the RBI places obligations on banks, its directors
and senior management for ultimate responsibility for the outsourced activity. Banks are required to ensure outsourced
service providers obtain prior approval for the use of subcontractors. The RBI has also directed banks to review the
subcontracting arrangements and ensure that such arrangements are compliant with aforementioned RBI guidelines. Legal
risks, including actions being undertaken by the RBI, if our service providers act unethically or unlawfully, could
materially and adversely affect our business, financial condition, results of operations and cash flows.

RBI may remove any employee, managerial person or may supersede our Board of Directors in certain circumstances.

The Banking Regulation Act confers powers on the RBI to remove from office any director, chairman, chief executive
officer or other officers or employees of a bank in certain circumstances such as, if the RBI is satisfied that it is in public
interest or to prevent the affairs of our Bank being conducted in a manner detrimental to the interests of the depositors.
RBI also has the powers to supersede the board of directors of a bank and appoint an administrator to manage the bank for
a period of up to 12 months in certain circumstances, and to penalize the management by way of freezing remuneration
levels and/ or other measures. The RBI may exercise powers of supersession where it is satisfied, in consultation with the
central government that it is in the public interest to do so, to prevent the affairs of any bank from being conducted in a
manner that is detrimental to the interest of the depositors, or for securing the proper management of any bank. Should
any of the steps as explained herein be taken by RBI, our reputation, business, results of operations, financial conditions
and cash flows would be materially and adversely affected.

Weakness or failures of our internal control system may cause significant operational errors, which may in turn
materially and adversely affect our business.

Banks and financial institutions are generally exposed to many types of operational risks, including the risk of fraud or

other misconduct by employees or outsiders, unauthorized transactions by employees and third parties (including violation
of regulations for prevention of corrupt practices, and other regulations governing our business activities), or operational

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