News Clarification

9th February, 2017

Dear Sir(s),

SUB: CLARIFICATION UNDER REGULATION 30 (11) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

REF: NEWS APPEARING IN MEDIA

This has reference to the news item appearing in certain sections of media about a possible merger between Kotak Mahindra Bank Limited and Axis Bank Limited.

We would like to clarify that the above report is baseless speculation.

We have given the following clarification to the media:-

"Axis is one of the strongest institution in the country with large customer franchise and we urge media to exercise extreme caution in dealing with such misinformation."

You are requested to take note of above and arrange to bring it to the notice of all concerned.

Thanking You.

Yours sincerely,

For Axis Bank Limited

Girish V. Koliyote

Company Secretary

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