In compliance with the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that the Credit Rating Agency, M/s. CARE Ratings Limited (CARE) has revised the rating from 'CARE BBB' (Triple B) (Credit Watch with developing implications) to CARE BBB- (Triple B Minus) (Credit Watch with developing implications) for our Unsecured Redeemable Non-Convertible Subordinated Lower Tier II Bonds - Series VII (Option B), VIII , IX & X of Rs.50.50 crores, Rs.78.10 crores, Rs.140.10 crores and Rs.100 crores respectively.

Further, the credit rating agency has reviewed the ratings assigned to the Proposed Basel III Compliant Additional Tier I Perpetual Bond Issue of the Bank from CARE BB (Double B) (Credit watch with developing implications) to CARE BB- (Double B Minus) (Credit watch with developing implications).

The rating and the detailed rationale dated 10.09.2019 provided by the rating agency is enclosed.