ABOUT AXIS BANK Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is capitalized to the extent of Rs. 406.94 crores with the public holding (other than promoters and GDRs) at 54.55%. The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 1000 branches and Extension Counters (as on 31st May 2010). The Bank has a network of over 4397 ATMs (as on 31st May 2010) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

Promoters Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a

capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. SUUTI - Shareholding 23.89% Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II with effect from 1st February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred and vested in the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), who manages assured return schemes along with 6.75% US-64 Bonds, 6.60% ARS Bonds with a Unit Capital of over Rs. 14167.59 crores. The Government of India has appointed Shri K. N. Prithviraj as the Administrator of the Specified undertaking of UTI, to look after and administer the schemes under UTI - I, where Government has continuing obligations and commitments to the investors, which it will uphold.

Board of Directors The members of the Board are : Dr. Adarsh Kishore Smt. Shikha Sharma Shri M. M. Agrawal Shri J.R. Varma Dr. R.H. Patil Smt. Rama Bijapurkar Shri R.B.L. Vaish Shri M.V. Subbiah Shri K. N. Prithviraj Shri V. R. Kaundinya Shri S. B. Mathur Non-Executive Chairman Managing Director & CEO Deputy Managing Director Director Director Director Director Director Director Director Director

Shri M. S. Sundara Rajan Director

Vision 2015 and Core Values VISION 2015: To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology Core Values Customer Centricity Ethics Transparency

Teamwork Ownership

Compensation Policy Objective of the Policy The objective of this policy is to establish a system whereby the Bank compensates the customer for the financial loss the customer could incur due to deficiency in service on the part of the Bank or any act of omission or commission directly attributable to the Bank.

Scope of the Policy The policy is based on the principles of transparency and fairness in the treatment of customers. It is designed to compensate the customer only for the financial loss incurred by the customer due to deficiency in the services offered by the Bank which can be measured directly and limited to the compensation specified for the respective service as given below. The date of receipt of complaint/notice by the Bank would be taken as day 'zero' and the timelines mentioned would be counted from the next working day onwards. The commitments under this policy are without prejudice to any right the Bank will have in defending its position before any Court of Law, Tribunal or forum duly constituted to adjudicate banker-customer disputes. The policy document covers the following aspects: a. Erroneous debiting of account b. Debits towards service charges c. Payment of cheques after acknowledgement of stop payment instructions d. Payment of interest to customers for delayed collection of instruments

e. Handling of instruments lost in transit f. Funds transfers using NEFT/RTGS g. Foreign exchange services - Collection of cheques outside India denominated in Foreign Currency h. Failure to execute standing instructions i. Reversal of erroneous debits arising on account of fraudulent transactions j. Violation of the Code by banks agent k. Transaction of 'at par instruments' of Cooperative Banks by Commercial Banks

Erroneous debiting of account If the Bank has raised an erroneous direct debit to an account, upon being informed of the erroneous debit, the entry will be reversed after due verification. In the event the erroneous debit has resulted in a financial loss to the customer by way of reduction in the minimum balance applicable for payment of interest on savings bank deposit or payment of additional interest to the Bank in a loan account or any charges levied for balance falling below the minimum balance requirement or any charges levied for return of cheques due to shortfall in balance, the Bank will compensate the customer to the extent of direct financial loss. The customer should approach the Bank within a maximum period of six months from the date of the erroneous debit. In case verification of the entry reported to be erroneous by the customer does not involve a third party, the Bank shall complete the process of verification within a maximum period of 7 working days from the date of reporting of erroneous debit. In case verification involves a third party, the Bank shall complete the verification process within a maximum period of

one month from the date of reporting of erroneous transaction by the customer. The Bank reserves its right to debit the account for reversing the amounts in case a wrong credit is posted to a customer's account without payment of any compensation. In respect of credit card operations if a customer protests any charges / transaction done on merchant establishment, the Bank would give him sufficient explanation and copy of charge slip, if required, within 60 days, provided the dispute/protest is raised within 60 days of transaction date and the required charges for locating the charge slip are paid. The Bank would debit the customer's account with any applicable service charge as per the schedule of charges notified by the Bank. In the event, the Bank levies any charges in violation of the arrangement, the Bank will reverse the same when pointed out by the customer subject to verification of the agreed terms and conditions. Any consequential financial loss by way of loss of savings bank interest on account of reduction in the minimum balance applicable for payment of interest on savings bank deposit or payment of additional interest to the Bank in a loan account or any charges levied for balance falling below minimum balance requirement or any charges levied for return of cheques due to shortfall in balance, will also be compensated to the customer. Where it is established that the Bank has issued an unsolicited credit card, the Bank would not only reverse the charges immediately but also pay compensation without demur to the recipient amounting to twice the value of charges reversed. Charges will include only those charges that are levied to the customer only when no transactions have been done on the card and such charges have been actually recovered from the customer. Debits towards service charges The Bank would debit the customer's account with any applicable service charge as per the schedule of charges notified by the Bank. In the event, the Bank levies any charges in violation of the arrangement, the Bank will reverse the same when pointed out by the customer subject to verification of the agreed terms and

conditions. Any consequential financial loss by way of loss of savings bank interest on account of reduction in the minimum balance applicable for payment of interest on savings bank deposit or payment of additional interest to the Bank in a loan account or any charges levied for balance falling below minimum balance requirement or any charges levied for return of cheques due to shortfall in balance, will also be compensated to the customer. Where it is established that the Bank has issued an unsolicited credit card, the Bank would not only reverse the charges immediately but also pay compensation without demur to the recipient amounting to twice the value of charges reversed. Charges will include only those charges that are levied to the customer only when no transactions have been done on the card and such charges have been actually recovered from the customer.

Debits towards service charges The Bank would debit the customer's account with any applicable service charge as per the schedule of charges notified by the Bank. In the event, the Bank levies any charges in violation of the arrangement, the Bank will reverse the same when pointed out by the customer subject to verification of the agreed terms and conditions. Any consequential financial loss by way of loss of savings bank interest on account of reduction in the minimum balance applicable for payment of interest on savings bank deposit or payment of additional interest to the Bank in a loan account or any charges levied for balance falling below minimum balance requirement or any charges levied for return of cheques due to shortfall in balance, will also be compensated to the customer. Where it is established that the Bank has issued an unsolicited credit card, the Bank would not only reverse the charges immediately but also pay compensation without demur to the recipient amounting to twice the value of charges reversed. Charges will include only those charges that are levied to the customer only when no transactions have been done on the card and such charges have been actually recovered from the customer.

Payment of Cheques after acknowledgement of Stop Payment Instructions In case a cheque has been paid after the Bank acknowledges stop payment instruction, the transaction shall be reversed within 2 working days of the customer intimating the transaction to the concerned branch. Interest, if eligible, will also be paid at the savings bank interest rate Collection of instruments within India In case of outstation cheques and other instruments sent for collection to centers within the country, the following time schedule shall be adhered to for realization by branches: Sr. Cheque Type Time Norms No. Remarks

1

Same day clearing. Applicable to areas covered by Applicable on High Value Clearing. the days Local Cheque when High Both, Presenting Bank and - High Value Value Drawee Bank should be Clearing is participants of high value clearing made session. available. Local Cheque - Non-High Value as well On settlement as cheques of funds. not covered in Item (1.) above. Outstation cheques drawn on all Seven working days For local cheques presented in clearing, credit will be afforded as on the date of settlement of funds in clearing and the account holder will be allowed to withdraw funds once the return clearing cycle is complete and clear credit is available in customer account. Working days shall not include Bank Holidays and days when clearinghouse is not operational.

2

3

state capitals Outstation cheques drawn in all major cities (List of the major cities appended)

Working days will be considered at both the ends/centers.

4

Ten working days

- do -

5

Outstation cheques Banks will have to depend on the Fourteen drawn on all correspondent/drawee banks for working days other this purpose. locations. In case there is a delay in realization beyond the timelines mentioned above, The Bank will pay interest to the customer on the amount of collection instruments. Such interest shall be paid without any demand from customers in all types of accounts. There will be no distinction between instruments drawn on the Bank's own branches or on other banks for the purpose of payment of interest on delayed collection except for reasons which are beyond the control of the Bank. Interest payments would be applicable only for instruments (drawn in INR) sent for collection within India. Scenario Interest rate

Sr. No.

Cheque deposit in operative and loan accounts 1 Delay* upto 30 days Savings Bank Interest Rate

2

Fixed Deposit Interest Rate would be payable after the expiry of the 30 days mentioned above Delay beyond upto the date of actual credit. 30 days The rate applicable would be the rate of interest prevailing on the date of the deposit of cheque.

To view the list of major cities where oustation cheques can be drawn, please click here.

*Delay would be calculated from the date of expiry of turnaround time indicated in the table on timeframe for collection of local/outstation instruments.

Handling of instruments Lost-in-transit The Bank would observe the following policy in case of cheques lost in transit: a. In the event a cheque or an instrument accepted for collection is lost in transit or in the clearing process or at the paying Bank's branch, the Bank shall immediately on coming to know of the loss, bring the same to the notice of the account holder so that the account holder can inform the drawer to record stop payment and also take care that cheques, if any, issued by him/her are not dishonoured due to non-credit of the amount of the lost cheques/instruments. b. If the cheque/instrument has been lost at the paying bank's branch, the collecting branch will have a right to recover the amount, including charges / interest expenses reimbursed to the customer for the loss of the cheque/instrument from the paying banker. c. The Bank would provide all assistance to the customer to obtain a duplicate instrument from the drawer of the cheque. This would be applicable only to instruments drawn in INR payable within India. d. The Bank will compensate the account holder in respect of instruments lost in transit as follows and will recover it from the paying bank. i. In case intimation regarding loss of instrument is conveyed to the customer after the time limit stipulated for collection (7/10/14 days as the case may be) interest will be paid for the period exceeding the stipulated collection period at the rates specified above.

ii. In addition, the Bank will pay interest on the amount of the cheque for a period of 15 days at savings bank rate to provide for likely further delay in obtaining duplicate cheque/instrument and collection thereof. iii. The Bank would also compensate the customer for any reasonable charges he/she incurs in getting duplicate cheque/instrument upon production of receipt, in the event the instrument is to be obtained from a bank/institution who would charge a fee for issue of duplicate instrument. Funds transfers using NEFT/RTGS The rate of compensation in case of delays in crediting the remittance proceeds received through NEFT/RTGS beyond one day after receipt of the message at our gateway shall be at the prevailing REPO rate Foreign Exchange Services - Collection of cheques outside India denominated in Foreign Currency It is the Bank's experience that the time norms for collection of instruments drawn on banks in foreign countries differ from country to country and even within a country, from place to place. The time norms for return of instruments cleared provisionally also vary from country to country. Therefore, no compensation shall be paid for any delay in collection of cheques designated in foreign currencies and sent to foreign countries. The Bank will compensate the customer only for undue delays in affording credit once proceeds are credited to the Nostro Account of the Bank with its correspondent with full particulars. The compensation in such cases will be restricted to the extent of eligible Savings Bank Interest Rate which shall be calculated for the period after taking into account the normal cooling period stipulated (Cooling period is maximum 16 international working days from the value date of credit in our Nostro Account with the Correspondent Bank). The foreign exchange rate on the date of credit in our Nostro Account shall be the basis for calculation of interest irrespective of the rate prevailing on the date of claim / calculation / settlement

Failure to execute Direct Debits / ECS Debits/ Standing Instructions The Bank undertakes to carry out Direct Debits / ECS debits / standing instructions of customers in time subject to the following: 1. Customer having already provided valid and complete mandate to accept any debit received through ECS. 2. Customer having already submitted a mandate for standing instructions. 3. Direct debit/ ECS received is complete and correct. 4. Customer has sufficient balance in the account at the time of executing direct debits/ standing instructions/ ECS. In case of failure to carry out the instructions subject to the aforesaid clauses and for reasons directly attributable to the Bank, the Bank will compensate the customers on the following lines: For direct debits / ECS debits - The Bank shall compensate the customer at the savings bank interest rate for the period between the due date of direct debit / ECS debit and the date of actual debit carried out by the bank. The Bank shall also reimburse the Customer to the extent of any penal interest, late payment charges levied by the debit/ ECS originating Bank, upon producing evidence of the same. For standing instructions - The Bank shall compensate the customer to the extent of the financial loss not exceeding Rs. 100 per occasion subject to providing proper supporting documents for having incurred the loss. In addition, the service charges, if any, recovered for execution of the Standing Instruction shall also be refunded Reversal of erroneous debits arising on account of fraudulent transactions In case of any fraud, if the Bank is convinced that an irregularity / fraud has been committed by its staff towards any constituent it would acknowledge its liability and pay the just claim.

In cases where the Bank is at fault, it shall compensate the customer without demur. In cases where neither the Bank nor the customer is at fault, but the fault lies elsewhere in the system, the Bank would compensate the customer for an amount of 25% of the loss incurred by the customer subject to an upper limit of Rs. 25,000/- subject to the customer providing proper supporting document for having incurred the loss. Violation of the Code by banks agent In the event of receipt of any complaint from the customer that the Bank's representative / courier or DSA has engaged in any improper conduct or acted in violation of the Code of Bank's Commitment to Customers, which the Bank has adopted voluntarily, the Bank will take appropriate steps to investigate and to handle the complaint and to compensate the customer for financial losses, subject to the customer providing proper supporting document for having incurred the loss. Award of Compensation The compensation shall be paid by replicating the effect obtained through back-valuation of the affected transaction. The compensation as per this Policy is payable to a customer only in those cases where any act of omission or commission is directly attributable to the Bank. No claim would be considered, under any circumstance, based on qualitative aspects like reputation damages, loss of image in the society, loss of business, loss of income, etc. The amount of compensation is restricted to the actual financial loss of the customer arising out of the amount in the books of the Bank only and in any case, to the maximum limits prescribed for the various services given above. Force Majeure The Bank shall not be liable to compensate customers for delayed

credit/non-availability of any service, if some unforeseen event (including but not limited to civil commotion, sabotage, accident, fire, natural disasters or other "Acts of God", war, damage to the Bank's facilities or of its correspondent bank(s), absence of the usual means of communication or all types of transportation, etc.) beyond the

control of the Bank which may prevent it from performing its obligations within the specified service delivery parameters Policy on Bank Deposits Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking System. The depositors and their interests form the key area of the regulatory framework for banking in India and this has been enshrined in the Banking Regulation Act, 1949. The Reserve Bank of India is empowered to issue directives / advices on interest rates on deposits and other aspects regarding conduct of deposit accounts from time to time. With liberalization in the financial system and deregulation of interest rates, banks are now free to formulate deposit products within the broad guidelines issued by RBI. This policy document on deposits outlines the guiding principles in respect of formulation of various deposit products offered by the Bank and terms and conditions governing the conduct of the account. The document recognises the rights of depositors and aims at dissemination of information with regard to various aspects of acceptance of deposits from the members of the public, conduct and operations of various deposits accounts, payment of interest on various deposit accounts, closure of deposit accounts, method of disposal of deposits of deceased depositors, etc., for the benefit of customers. It is expected that this document will impart greater transparency in dealing with the individual customers and create awareness among customers of their rights. The ultimate objective is that the customer will get services they are rightfully entitled to receive without demand.

While adopting this policy, the bank reiterates its commitments to individual customers outlined in Bankers' Fair Practice Code of Indian Banks' Association. This document is a broad framework under which the rights of common depositors are recognized. Detailed operational instructions on various deposit schemes and related services will be issued from time to time Types of Deposit Accounts While various deposit products offered by the Bank are assigned different names. The deposit products can be categorised broadly into the following types.

"Demand deposits" means a deposit received by the Bank which is withdrawable on demand. "Savings deposits" means a form of demand deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the Bank during any specified period. " Term Deposit" means a deposit received by the Bank for a fixed period withdrawable only after the expiry of the fixed period and include deposits such as Recurring/Reinvestment Income Certificate/ Encash 24/Short term Deposits/ Fixed Deposits/ Monthly Income Certificate/ Quarterly Income Certificate etc. "Current Account" means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

Interest Payments Interest shall be paid on saving account at the rate specified by Reserve Bank of India directive from time to time. However, term deposit interest rates are decided by the Bank within the general guidelines issued by the Reserve Bank of India from time to time.

In terms of Reserve Bank of India directives, interest shall be calculated at quarterly intervals on term deposits and paid at the rate decided by the Bank depending upon the period of deposits. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted value. The interest on term deposits is calculated by the Bank in accordance with the formulae and conventions advised by Indian Banks' Association. The rate of interest on deposits will be displayed in the branch premises. Changes, if any, with regard to the deposit schemes and other related services shall also be communicated upfront to the deposit account holders. The Bank has statutory obligation to deduct tax at source if the total interest paid / payable on all term deposits held by a person exceeds the amount specified under the Income Tax Act. The Bank will issue a tax deduction certificate (TDS Certificate) for the amount of tax deducted. The depositor, if entitled to exemption from TDS can submit declaration in the prescribed format at the beginning of every financial year. Minors' Accounts The minor can open Savings Bank Account and the same can be operated by the natural guardian or by minor himself / herself, if he/she is above the age of 12 years. The account can also be opened jointly. On attaining majority, the erstwhile minor should confirm the balance in his/her account and if the account is operated by the natural guardian / guardian, fresh specimen signature of erstwhile minor duly verified by the natural guardian would be obtained and kept on record for all operational purposes Insurance Coverage on Deposits All bank deposits are covered under the insurance scheme offered by

Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions. The details of the insurance cover in force, will be made available to the depositor. The DICGC insures all deposits such as savings, fixed, current, recurring, etc. deposits except the following types of deposits

Deposits of foreign Governments Deposits of Central/State Governments Inter-bank deposits Deposits of the State Land Development Banks with the State co-operative bank Any amount due on account of and deposit received outside India Any amount, which has been specifically exempted by the corporation with the previous approval of Reserve Bank of India

Each depositor in a bank is insured upto a maximum of Rs.1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same right and same capacity. The deposits kept in different branches of a bank are aggregated for the purpose of insurance cover and a maximum amount upto Rupees one lakh is paid. For example, if an individual had an account with a principal amount of Rs.95,000 plus accrued interest of Rs.4,000, the total amount insured by the DICGC would be Rs.99,000. If, however, the principal amount in that account was Rs. One lakh, the accrued interest would not be insured, not because it was interest but because that was the amount over the insurance limit. Bankers Fair Practice Code

About this code This is a voluntary Code, which sets standards of fair banking practices for member banks of Indian Banks' Association to follow when they are dealing with individual customers. It provides valuable guidance to you for your day-to-day operations. The Code applies to: o current, savings and all other deposit accounts o pension, PPF accounts etc. operated as agents of RBI/Government o collection and remittance services offered by the banks

loans and overdrafts o foreign-exchange services o card products o third party products offered through our network. As a voluntary Code, it promotes competition and encourages market forces to achieve higher operating standards for the benefit of customers. In the Code, 'you' denotes the customer and 'we' the bank, the customer deals with. The standards of the Code are covered by the four key commitments found in section 2. Unless it says otherwise, all parts of this Code apply to all the products and services listed above, whether they are provided by branches across the counter, over the phone, by post, through interactive electronic devices, on the internet or by any other method. Commitments outlined in this Code are applicable under normal operating environment. In the event of force majeure, we may not be able to fulfill the commitments under this Code.o

This code shall come into effect from 1st September, 2004. Key Commitments Our key commitments to you We promise to:

Act fairly and reasonably in all our dealings with you by: o meeting the commitments and standards in this Code, for the products and services we offer, and in the procedures and practices our staff follow o making sure our products and services meet relevant laws and regulations o our dealings with you will rest on ethical principles of integrity and transparency. Help you to understand how our financial products and services work by: o giving you information about them in plain Hindi and/or English and/or the local language o explaining their financial implications and o helping you choose the one that meets your needs. Deal quickly and sympathetically with things that go wrong by:

correcting mistakes quickly o handling your complaints quickly o telling you how to take your complaint forward if you are still not satisfied and o reversing any bank charges that we apply due to our mistake. Publicise this Code, put it on our website and have copies available for you on request.o

RESERVE BANK OF INDIA DEPARTMENT OF CURRENCY MANAGEMENT CITIZENS' CHARTER 1. Objective of the Citizens' Charter This Citizen's Charter provides information on various facilities provided by the Reserve Bank of India ( RBI) in the matter of exchange of notes and coins and the common standards of the services provided at RBI Issue Offices and designated branches. 2. Services Available at RBI Issue Offices The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins. The Bank is committed to provide exchange facility free of cost at its counters during business hours of respective RBI Issue Offices. 3. Names of RBI Offices which provide exchange facilities The facilities are provided at the counters of the Bank's Regional Offices located at Ahmedabad, Bangalore, Belapur (Navi Mumbai), Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kochi, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.The addresses and telephone numbers of RBI Offices are given in the Annex. 4. Exchange of soiled and mutilated notes and coins at the Bank's public counters Members of the general public can avail themselves of the following facilities at the counters of the Bank's Offices. Procedure to avail the sevices and information on costs of services and the Greivance redress Mechanism is given below. Sr. Services Procedure to Cost of Time limit No. offered avail the the service service

I.

a) Exchange of notes and coins, and b) Exchange of defective notes at the counter ( for a few pieces only )

The serial Free of Spot numbers of cost. Payment. counters where during the exchange banking facility is made hours. The available at duration of each Office are banking displayed at hours is the banking displayed in hall of each the banking Office of the hall or can be Bank. known from Approach the the enquiry designated counter. counters or enquiry counter for information regarding designated counters.In case of any difficulty contact the Nodal Officer whose

name is displayed in the Banking Hall.

II. Exchange of defective notes tendered through TLR Covers (for larger number of pieces)

Ask for TLR cover at the designated counter or approach enquiry counter for more information. Fill in the required information on the TLR cover. Mention the details of bank / branch / account number, where credit of the exchange value is desired, on the TLR Cover. Exchange value will normally be paid through following ways: ECS credit: Bank account of the claimant will be credited through ECS, provided ECS mandate has been

ECS Free of cost. Money Order (MO) No charges for amount up to Rs.1000. Actual commission charged by the Post Office for amounts exceeding Rs.1000. Demand Draft (DD) Actual amount of Exchange, as applicable, on the amount remitted. Payment Order (PO) Free of cost.

ECS The exchange value will be credit to the account of the claimant within 4 working days from the date of receipt of defective notes. MO/DD/PO MO/DD/PO will be dispatched to the claimant within 4 working days from the date of receipt of defective notes.

III. Exchange of defective notes tendered through Insured Parcel (for very large number of pieces)

Send defective notes through Insured & Registered Parcel to The General/Deputy Manager of the concerned Issue Office whose address can be obtained from the enquiry counter or the website of Reserve Bank of India. Mention the details of notes sent, name, address and bank account details of the tenderer on an accompanying letter. Exchange value will be paid by credit to bank account through ECS. Exchange value can also be paid by Payment Order/Demand Draft /Money Order. In case of any

Same as mentione d at Sr. No. II.

ECS The exchange value will be credit to the account of the claimant within 15 working days from the date of receipt of defective notes. MO/DD/PO MO/DD/PO will be dispatched to the claimant within 15 working days from the date of receipt of defective notes.

difficulty you can contact the concerned Issue Office over telephone or by email, the detail of which is available in Reserve Bank of India website.

IV. Exchange of defective notes under Special Procedure (For notes which have turned extremely brittle, badly burnt, charred, inseparabl y stuck-up together and, therefore, cannot withstand further handling or which may lose their original identity with the passage of time)

Contact enquiry counter or AGM/Manager (Claims Section). Submit application in the prescribed form. Defective notes are not to be submitted with the application. Wait for intimation from Claims Section about the date on which adjudication of notes will be done. On the stipulated date, bring the defective notes to Claims Section. Claimants can witness the activity of

Same as mentione d at Sr. No. II.

Same as mentioned at Sr. No. II.

adjudication of their defective notes, if they so desire. Do not paste / reconstruct the defective notes. Bring the defective notes in their original form.

V Exchange of notes to coins through Coin Vending Machine

Follow the Free Spot procedure Payment by displayed on the the machine Coin Vending during the Machine. In case of banking any problem please hours. contact the enquiry counter or the Nodal Officer.

5 The name of the Nodal Officer for looking into customer related problems is available with the respective regional offices of Reseve Bank of India. 6 Grievance Redressal In case you are not satisfied with the services availed at the counters or have any suggestion for improvement in the services provided by the Bank, you may send your complaint / suggestion to us in the following ways: 1 (i) Leave your complaint / suggestion in the transparent Drop Box provided for the purpose in the Banking Hall. 2 (ii) Write your complaint / suggestion in the Complaint / Suggestion Register available at the Enquiry Counter. 3 (iii) Send your complaint / suggestion by post/courier to the General Manager/Deputy General Manager Reserve Bank of India, Issue Department 4 (iv) Send your complaint / suggestion to us by e-mail at helpdcm@rbi.org.in. 5 (v) You may also contact the following officials of Issue Department in person or telephone for redressal of your grievances: Sr. Name Designation Address Telephone E-Mail No. of the Number Address Official 1. General Manager 2. Dy. General Manager 3. 4. Asst.General Manager Treasurer

1 (vi) Your complaint / suggestion will be acknowledged

immediately and appropriate action will be taken for redressal thereof within one month from the date of receipt of your letter. 7. General Conditions of Service 1 (i) The mutilated/cut notes are exchanged by the Bank as a matter of grace under the Reserve Bank of India (Note Refund) Rules. When the mutilated/cut note is not found payable under the Rules, the same is rejected and rejection advice issued to the tenderer. The rejected note is retained by the bank and destroyed after four months.The tenderer can make appeal for reconsideration during the preservation period of four month to the concerned Issue Office 2 (ii) Notes/coins which are found to have been forged/ counterfeited are impounded and no value thereof is paid. Such notes/coins are retained by the Bank after issue of advice to the tenderer. 3 (iii) The security features of the bank notes issued by RBI are furnished as information to members of the public in the Bank's website http://www.rbi.org.in/currency/banknotes.html . 4 (iv) Demand for notes and coins should be commensurate with the genuine business/personal need of the customer. 8. Exchange of soiled and mutilated notes and coins at the counters of commercial banks 1 (i) Offices of the Reserve Bank are located at selected centers. The Bank has, therefore, made arrangement for provision of the facility of exchange of soiled notes, exchange of notes to coins and coins to notes at the branches of scheduled commercial banks. While the facility for exchange of soiled notes is available at all branches of public sector banks and branches of private sector bank, the facility of exchange of mutilated / cut notes is available only at the designated bank branches of commercial banks. A list of the designated bank branches where the mutilated notes can be exchanged is available at the enquiry counter of the RBI Offices. Such

designated bank branches also have instructions to display notice board regarding availability of mutilated notes exchange facility. In case any such branch refuses to provide the exchange facility, aggrieved members of the public can complain to the Chairman and Managing Director/CEO of the commercial bank concerned. In case the grievance is not redressed, the matter may be brought to the notice of the concerned Regional Office of Reserve Bank of India. 2 (ii) Branches of other banks i.e. Co-operative Banks and Regional Rural Banks are expected to exchange notes and coins at their convenience. They, however, do not have powers to exchange mutilated notes. 9 Suggestion/Comment In case any member of the public has any suggestion/comment to offer in regard to the Citizens' Charter, he may write to the Chief General Manager, Department of Currency Management, Reserve Bank of India, Central Office, Amar Building, 4th Floor, Sir P.M. Road, Fort, Mumbai - 400 001. ANNEX Addresses of RBI Issue Offices and their Jurisdiction Sl. No. Name and Jurisdiction Address of RBI Office The General The State of Gujarat and 1 1. Manager Union Territories of Dadra Reserve Bank of and Nagar Haveli and India, Issue Daman and Diu Department 2nd Floor, Near Gandhi Bridge Ahmedabad 380 014. The General The State of Karnataka 1 2. Manager Reserve Bank of

1

3.

1

4.

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India, Issue Department 10/3/8, Nrupathunga Road, Bangalore 560 001. The Deputy General Manager Reserve Bank of India, Issue Department Pt. Jawahar Lal Nehru Marg, Post Box No. 16, Bhubaneswar 751 001 The General Manager Reserve Bank of India, Issue Department Main Building, Shahid Bhagat Singh Marg, Fort, Mumbai 400 001. The Deputy General Manager Reserve Bank of India, Issue Department, Hoshangabad Road, Post Box No. 32, Bhopal 462 011.

The State of Orissa.

Greater Mumbai i.e. Mumbai island and the suburban district (roughly south of a line connecting Dahisar and Mulund on the Western and Central Railways respectively)

The State of Madhya Pradesh

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The Deputy General Manager Reserve Bank of India, Issue Department Plot No. 3, Sector 10, H.H. Nirmala Devi Marg, CBD, Belapur, Navi Mumbai 400 614. The Deputy General Manager Reserve Bank of India, Issue Department Central Vista, Opposite Telephone Bhavan, Sector 17, Chandigarh 160 017. The General Manager Reserve Bank of India, Issue Department Fort Glacis No. 16, Rajaji Salai, Post Box No. 40, Chennai 600 001. The General Manager Reserve Bank of India, Issue Department Station Road,

The districts of Ahmednagar, Kolhapur, Nasik, Pune, Raigad, Ratnagiri, Sangli, Satara, Sindhudurg, Solapur, and Thane in the State of Maharashtra and the State of Goa.

The States of Haryana, Himachal Pradesh, Punjab and the Union territory of Chandigarh

State of Tamil Nadu and the Union Territory of Pondicherry.

The States of Assam, Arunachal Pradesh, Manipur, Meghalaya , Mizoram, Nagaland and Tripura

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Panbazar, Post Box No. 120, Guwahati 781 001. The General The State of Andhra 10. Manager Pradesh Issue Department Reserve Bank of India 6-1-65, Secretariat Road, Saifabad,

Sl. No. Name and Address of RBI Office Jurisdiction The General The State of Rajasthan 1 12. Manager Issue Department Reserve Bank of India Rambaug Circle, Tonk Road, Post Box No.12, Jaipur 302 004. The General The State of Uttar 1 13. Manager Pradesh and Issue Department Uttaranchal Reserve Bank of India M.G. Marg, Post Box No. 82/142 Kanpur 208001. The General The States of Sikkim, 1 14. Manager West Bengal and the Issue Department Union Territory of the Reserve Bank of Andaman & Nicobar India islands Post Bag No. 49 Kolkata 700 001. The General The State of 1 15. Manager Chattisgarh and the Reserve Bank of districts of Akola, India, Issue Amaravati, Department Aurangabad, Beed, Main Office Building, Bhandara, Buldhana, Dr. Raghvendra Rao Chandrapur, Dhule, Road, Post Box No. Gadchiroli, Hingoli, 15, Jalgaon, Jalna, Latur, Civil Lines, Nagpur Nagpur, Nanded, 440 001. Osmanabad, Parbhani, Wardha, Yavatmal in the State of Maharashtra.

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The General 16. Manager Reserve Bank of India, Issue Department 6, Sansad Marg, New Delhi 110 001. The Deputy General 17. Manager Reserve Bank of India, Issue Department, South Gandhi Maidan Post Box No. 162 Patna 800 001. The Deputy General 18. Manager Reserve Bank of India, Issue Department, Bakery Junction, Post Box No. 6507, Thiruvananthapuram 695 033.

The State of Delhi

The State of Bihar and Jharkhand

The State of Kerala and the Union Territory of Lakshdweep

FAQs It is our endeavour to extend best possible services to our valued shareholders and other investors. For your convenience, we have furnished below a list of frequently asked questions and their answers. If you have any other queries, please feel free to contact the Company Secretary who will be too happy to answer them. We

welcome your suggestions and advices to improve our services further. 1. Who are the promoters of Axis Bank? As on 24/05/2010 Name of the Promoters Administrator of the Specified Undertaking of the Unit Trust of India (UTI-1)- SUUTI Life Insurance Corporation of India General Insurance Corporation of India and Four PSU Insurance companies Current Shareholding 23.89% 9.67% 4.24%

2. Where is the registered office of Axis Bank Located? The Registered office of Axis Bank is located at: "TRISHUL",Third Floor, Opp. Samartheshwar Temple, Nr.Law Garden, Ellisbridge, Ahmedaabad - 380 006 Tel : (079) 26409322 Fax: (079) 26409321 Email: rajendra.swaminarayan@axisbank.com Company registration number with ROC: CIN-L65110GJ1993PLC020769 Gujarat 04-20769 Where is the Central Office of Axis Bank located? The Central Office of Axis Bank is located at: 13th Floor, Maker Tower - F, Cuffe Parade,

Colaba, Mumbai - 400 005 4. What is the share capital of Axis Bank? Authorised Share Capital :Rs. 500 crores Paid Up Share Capital : Rs. 406.94 crores 5. What were the rates of Dividend declared by Axis Bank in the past? The rates of dividend declared by Axis Bank were as follows: Year 1998-99 - 10% (Pro-rata) - (Rs. 1 per share) Year 1999-00 - 12% - (Rs. 1.20 per share) Year 2000-01 - 15% - (Rs. 1.50 per share) Year 2001-02 - 20% - (Rs. 2.00 per share) Year 2002-03 - 22% - (Rs. 2.20 per share) Year 2003-04 - 25% - (Rs. 2.50 per share) Year 2004-05 - 28% - (Rs. 2.80 per share) Year 2005-06 - 35% - (Rs. 3.50 per share) Year 2006-07 - 45% - (Rs. 4.50 per share) Year 2007-08 - 60% - (Rs. 6.00 per share) Year 2008-09 - 100% - (Rs. 10.00 per share) Year 2009-10 - 120% - (Rs. 12.00 per share 6. Who are the Registrars and Share Transfer Agents of Axis Bank? M/s. Karvy Computershare Private Limited, UNIT : AXIS BANK LIMITED Plot No. 17-24, Vithalrao Nagar, Madhapur, Hyderabad - 500081 Tel : (040) 2342 0815-824 / 4465 5115 / 4465 5117

Fax: (040) 2342 0814 Email: jayaramanvk@karvy.com Contact Persons: Shri V.K. Jayaraman, General Manager (RIS) Ms. Varalakshmi, Sr. Manager 7. On which stock exchange are the shares of Axis Bank listed? The shares of Axis Bank are listed at the NSE and BSE. The GDRs issued by the Bank are listed on London Stock Exchange. Stock Exchange / Depository Code No. / ISIN NO Mumbai NSE NSDL CDSL Code No. 532215 - A Group Code No. AXISBANKEQ ISIN No. INE238A01026 ISIN No. INE238A01026

London Stock Exchange ISIN No. US05462W1099 GDR Issue 8. When was the last Book Closure of Axis Bank ? The last Book Closure was during the period 24/05/2010 to 08/06/2010. 9. When was the last AGM of Axis Bank held ? The last AGM of Axis Bank was held on 08/06/2010 10. Who are the members of Axis Bank Shareholders/Investors Grievance Committee? Dr. Adarsh Kishore - Chairman Shri K. N. Prithviraj - Member Shri R.B.L Vaish - Member

11. What is the benefit of Depository System? As a part of Capital Market Reforms and in line with global practice, the Depository environment with respect to electronic transactions of securities has also been put in place by SEBI. This will ensure a more efficient service in the matter of share transfer and eliminate risks for the investors against theft/fraud etc while the share certificates are in transit through courier or postal service.

NETSECURE Double Security for your Online Fund Transfers We at Axis Bank have always endeavored to provide the best of banking services to our customers. Our latest initiative is NETSECURE, which is a two factor authentication system to provide added security to your online banking transactions. NETSECURE is a secured system, wherein two different parameters (one that you already know, like login id and password and second, a single usage password that you will receive while conducting the transaction) are used together to verify your identity on the Internet. Using two factors as opposed to one factor (just the login id and password) ensures heightened security for your online transactions. It is mandatory to register for NETSECURE to transfer funds online. Once you are registered for NETSECURE, you will receive your NETSECURE Code - a single usage password, that will ensure double security for your online fund transfers. You can choose between three types of NETSECURE: NETSECURE with SMS (using your mobile phone), NETSECURE with WebPin (registration of a

computer) or NETSECURE with 1-Touch (a small hardware device). This choice needs to be made when you register for NETSECURE online.

NETSECURE Terms and Conditions NETSECURE with SMS IMPORTANT - READ CAREFULLY BEFORE CHOOSING NETSECURE WITH SMS By choosing SMS as your NETSECURE option, YOU AGREE YOUR ACCEPTANCE OF THE FOLLOWING TERMS AND CONDITIONS OF THIS USAGE Terms & Conditions Your Mobile number is an important component in the NETSECURE with SMS option. Hence you are required to provide your correct mobile number. If the mobile number provided by you is already registered with us (it matches with the number present in our records) you will be successfully registered for the NETSECURE with SMS, else the system shall direct you to register your mobile number at Axis Bank's Branches or ATMs. In case of theft/loss/change of your mobile number, please report the same to your nearest branch. If the same is not reported, any transactions done through the I Connect using the authentication will be treated as valid by the bank and no claims shall be entertained in case of fraud or unauthorized transaction. Till any alternate mobile number is registered with the Bank or the registered mobile number is reactivated you shall not be able to use the services where such NETSECURE Code is compulsory. The Bank shall not be held responsible. Once you choose SMS as your NETSECURE option, the bank shall endeavor to activate the security feature within 48 hours. The NETSECURE Code sent on the registered mobile number expires after a predefined time lag. Hence the user will have to

enter the activation code quickly as soon as it is received via SMS. Any code entered after expiry will be rejected by the Bank. To the best of the abilities, Bank shall ensure the delivery of the NETSECURE Code on your registered mobile via SMS. However Bank shall not be responsible for non-receipt of the SMS Code or delay for the reasons beyond its control. The Bank holds no responsibility for any losses occurred due to non delivery/mis - delivery of the NETSECURE Code through SMS. In times of contingencies the Bank reserves the right to disable the SMS NETSECURE authentication. The Bank shall be the sole authority to decide as to the contingencies of the situation. Bank also reserves the right to add the NETSECURE authentication in more transaction types or remove it from the existing transaction types. The same shall be at the sole discretion of the Bank. The account holder shall not have multiple options of using NETSECURE. The option one selected will disable the using the NETSECURE through other modes of usage. The only option available to the account holder is to de register from one particular mode and switch over to the other mode. Any accountholder on registering for the said facility shall be deemed to have read, understood and accepted these terms and conditions as stated above (and as amended from time to time). Axis Bank reserves the absolute right to withdraw/ change/ modify/ suspend/ cancel and/or alter any of the terms and conditions of the enhanced security NETSECURE. Net Secure with Web Pin IMPORTANT - READ CAREFULLY BEFORE CHOOSING THE WebPin option for NETSECURE By choosing WebPin as your NETSECURE option, YOU AGREE YOUR ACCEPTANCE OF THE FOLLOWING TERMS AND CONDITIONS OF USAGE Terms & Conditions Your Mobile number is an important component in the NETSECURE with WebPin option. Hence you are required

to provide your correct mobile number. If the mobile number provided by you is already registered with us (it matches with the number present in our records) you will be successfully registered for the NETSECURE with WebPin, else the system shall direct you to register your mobile number at Axis Bank's Branches or ATMs. The Secure code sent on the mobile number is a one time only for a single Computer registered with the Bank. In case of theft/loss/change of your mobile number, please report the same to your nearest branch. If the same is not reported, the authentication will be treated as valid by the bank and no claims will be honored in case of fraud or unauthorized transaction by any third party. Once you have chosen WebPin as your NETSECURE option, the bank shall endeavour to activate security feature within 48 hours. Once enforced for WebPin, the accounholder will have to register the computer from which accountholder would be accessing the iConnect. The Account holder can register as many computers as may be required for the purpose of NETSECURE. The activation code sent for computer registration expires after a predefined time lag. Hence you are required to enter the activation code quickly as soon as it is received via SMS. Any code entered after expiry will be rejected by the Bank. To the best of our knowledge we shall ensure the delivery of the activation code on your registered mobile via SMS. However we contrite the non-receipt for the reasons beyond our control.The Bank holds no responsibility for any losses occurred due to non delivery or delay of the delivery of the Authentication code to your mobile number. For the usage of the NERSECURE with WebPin, Java Runtime environment JRE 1.4.x or above is required in the computer. Recommended system requirement for the Web Pin device are : o PC / Laptop Specifications: 512 MB RAM, Pentium4 onwards o Internet connectivity Broadband :(512Kbps onwards) o Operating Systems: Windows 2000 Professional, XP, VISTA, Windows 2003 Server

Recommended screen resolution: 1024X768 o Supported Browsers: IE 6.0+, Firefox 1.5 onwards (3.0+ recommended), Opera 9.0+, Safari 3.0+ o Mandatory Browser settings: Enable JavaScript, Cookies and Java o Java Runtime Environment (JRE) requirement: JRE 1.4.x, JRE 1.5.x, JRE 1.6.x and onwards In times of contingencies the Bank reserves the right to disable the NETSECURE with WebPin authentication. The Bank shall be the sole authority to decide as to the contingencies of the situation. The bank also reserves the right to add the NETSECURE with WebPin authentication in more transaction types or remove it from the existing transaction types. . The same shall be at the sole discretion of the Bank. The account holder shall not have multiple options of using NETSECURE. The option one selected will disable the using the NETSECURE through other modes of usage. The only option available to the account holder is to de register from one particular mode and switch over to the other mode. Any accountholder on registering for the said facility shall be deemed to have read, understood and accepted these terms and conditions as stated above (and as amended from time to time). Axis Bank reserves the absolute right to withdraw/ change/ modify/ suspend/ cancel and/or alter any of the terms and conditions of the enhanced security NETSECURE NETSECURE with 1-Touch Device IMPORTANT - READ CAREFULLY BEFORE CHOOSING THEo

NETSECURE with 1-Touch OPTION By choosing 1-Touch Device as your NETSECURE option, YOU AGREE ACCEPTANCE OF THE FOLLOWING TERMS AND CONDITIONS OF THIS USAGE. Terms & Condition Once you choose 1-Touch Device as your NETSECURE option, the bank shall deliver the device to your communication address within 10 working days.

After 10 days from registration request, the bank will activate 1Touch Device NETSECURE authentication. The NETSECURE Code appearing on the 1-Touch Device expires after 50 seconds. The code entered after expiry will be rejected by the Bank. In case of loss or theft of the 1-Touch device, please report the loss to your nearest branch. If the same is not reported, any transactions done though the authentication shall be treated as valid by the bank and no claims shall be entertained in case of any fraud. Your 1-Touch Device is personal to you and cannot be shared. In case of misuse by third party, (whether intentional or not) the Bank absolves its liability for the same. By indicating to avail the facility of NETSECURE through this mode , you accept to pay The applicable charges of Rs 800 for 1-Touch device or unauthorized transaction In case of any of such Replacement of 1 Touch Device the Replacement charges Rs. 500 per 1-Touch device plus applicable taxes shall be charged by the Bank. The Bank reserves the right to revise the charges and debit the applicable charges with taxes if any, to the account maintained with the Bank. In case of Theft/Loss/misplace of 1 Touch Device till any alternate 1 Touch Device is made available you shall not be able to use the services requiring such NETSECURE Code for which the Bank shall not be held responsible. In times of contingencies the Bank reserves the right to disable the 1-Touch NETSECURE authentication. The Bank shall be the sole authority to decide as to the contingencies of the situation. The bank also reserves the right to add the NETSECURE authentication on more transaction types or remove it from the existing transaction types. The same shall be at the sole discretion of the Bank. The 1-Touch Device can only be used to access the Axis Bank iConnect Web site In acceptance of the terms and conditions you will always provide the Bank accurate 1-Touch Device serial number as requested in order to allow the Bank to associate your identity. You will maintain proper possession of the 1-Touch Device.

For the usage of the 1-Touch device, Java Runtime environment JRE 1.4.x or system requirements as mentioned below, is mandatory in the Computer. Recommended system requirement for the 1-Touch device are : o PC, Laptop Specifications: 512 MB RAM, Pentium4 onwards o Internet connectivity Broadband :(512Kbps onwards) o Operating Systems: Windows 2000 Professional, XP, VISTA, Windows 2003 Server o Recommended screen resolution: 1024X768 o Supported Browsers: IE 6.0+, Firefox 1.5 onwards (3.0+ recommended), Opera 9.0+, Safari 3.0+ o Mandatory Browser settings: Enable JavaScript, Cookies and Java o Java Runtime Environment (JRE) requirement: JRE 1.4.x, JRE 1.5.x, JRE 1.6.x and onwards The account holder shall not have multiple options of using NETSECURE. The option one selected will disable the using the NETSECURE through other modes of usage. The only option available to the account holder is to de register from one particular mode and switch over to the other mode. Any accountholder on registering for the said facility shall be deemed to have read, understood and accepted these terms and conditions as stated above (and as amended from time to time). Axis Bank reserves the absolute right to withdraw/ change/ modify/ suspend/ cancel and/or alter any of the terms and conditions of the enhanced security NETSECURE. Axis Bank reserves the absolute right to withdraw/ change/ modify/ suspend/ cancel and/or alter any of the terms and conditions of the enhanced security NETSECURE