Deputy General Manager Policy and Development - 2 Corporation Finance Department rajkd@sebi.gov.in 022 -26449… — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

Deputy General Manager Policy and Development - 2 Corporation Finance Department rajkd@sebi.gov.in 022 -26449253 To Axis Bank Limited 8 th Floor , AXIS House, C2 Wadia International Centre , Pandurang Budhkar Marg, Mumbai, Maharashtra – 400025 . Sir, Kind attention: Mr. Sandeep Poddar, r, Company Secretary Subject: Request for Informal Guidance by way of an Interpretive Letter received from Axis Bank Limited under Securities and Exchange Board of India (Informal Guidance) Scheme, 2003 This is in reference to your letter dated October 27, 2023 ( " Application " ) and e-mail dated December 20, 2023 seeking an interpretive letter under the Securities and Exchange Board of India (Informal Guidance) Scheme, 2003 ( " Informal Guidance Scheme " ) in relation to Section VI-H of the SEBI Master Circular dated July 11, 2023 on Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Master Circular") . The following information is gathered from your Application and your e-mail: In accordance with SEBI circular dated May 10, 2018 and paragraph 2.1 of section VI -H of the Master Circular, Axis Bank Limited ("Bank") had taken the following actions: A board approved policy ("Subsidiary Governance Framework") had been put in place for oversight and monitoring the governance of its subsidiaries. A Subsidiary Governance Committee had been constituted, which is now chaired by an Executive Director (earlier chaired by Group Executive until July, 2023) and comprises key senior management of the Bank (including the Group Heads of the assurance functions i.e., Risk, Compliance and Audit), as its members. No.: SEBI/HO/CFD/PoD2/OW/P/2024/3632/1 January 24, 2024 A dedicated group governance unit was set-up that holds together the agenda and ca

Deputy General Manager Policy and Development - 2 Corporation Finance Department rajkd@sebi.gov.in 022 -26449253

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