Please refer to the Prudential Regulation G-1 relating to Corporate Governance/Board of Directors and Management.

2. In this connection following amendments have been made in Para 10 of the Prudential Regulation G-1:

Section B. Responsibilities of the Board of Directors: (Para 10 of Section B is being replaced as under)

“10. To share the load of activities, the Board may form specialized committees with well-defined objectives, authorities and tenure. These committees, comprising of at least one non-executive Board member, shall oversee areas like Audit, Risk Management, Credit, and Recruitment, Remuneration & Nomination etc. The Chairman of the Board may chair and/or be a member of any one of the Board Committees except Audit and Risk Management Committees. Further, the Audit Committee of the Board shall invariably be chaired by an Independent Director. These committees of the Board should neither indulge in day-to-day affairs/operations of the bank nor enjoy any credit approval authority for transactions/limits. These committees should apprise the Board of their activities and achievements on regular basis.”

3. All other instructions on the subject shall remain the same.

4. Please acknowledge receipt.