Axis Bank Limited

Capital/Financing Update • Feb 13, 2025

National Storage Mechanism | Additional information

RNS Number : 0605X

Axis Bank Limited

13 February 2025

AXIS/CO/CS/640/2024-25

February 13, 2025

Dear Sir/Madam,

Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This is to inform you that Foreign Exchange Department, Reserve Bank of India vide its Order and e-mail dated February 12, 2025, has imposed a compounding penalty of Rs. 37,32,505/- (Rupees Thirty Seven Lakhs Thirty Two Thousand Five Hundred and Five only) for contravention of Regulation 14(6)(ii)(a) of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, Regulation 13.1(11) of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 and Rule 23 (1) of Foreign Exchange Management (Non-Debt Instruments) Rules, 2019.

The relevant information is attached as Annexure A.

This is for your information and records.

Thanking You.

Yours faithfully,

For Axis Bank Limited

Puneet Sharma

Chief Financial Officer

Encl.: As above.

CC: London Stock Exchange

Singapore Stock Exchange

Annexure A

Sr No	Particulars	Details
1	Name of the Authority	Reserve Bank of India
2	Nature and details of the action(s) taken, initiated or order(s) passed	Contravention of Regulation 14(6)(ii)(a) of Foreign Exchange Management (Transfer or Issue of Security by a person resident outside India) Regulations, 2000, Regulation 13.1(11) of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 and Rule 23 (1) of Foreign Exchange Management (Non-Debt Instruments) Rules, 2019.
3	Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority	February 12, 2025.
4	Details of the violation(s)/ contravention(s) committed or alleged to be committed	(i)  Delay in reporting of downstream investment by the Bank under Regulation 14(6)(ii)(a) of Foreign Exchange Management (Transfer or Issue of Security by a person resident outside India) Regulations, 2000 and Regulation 13.1(11) of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017. (ii) Non-compliance with the applicable pricing guidelines while acquiring equity stake in another Indian company under Rule 23 (1) of Foreign Exchange Management (Non-Debt Instruments) Rules, 2019.
5	Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible	Compounding penalty levied amounting to          Rs. 37,32,505/-. The Bank does not expect any material impact on financial, operation or other activities of the Bank due to the said order.

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