AXIS Bank - Outcome of Board Meeting

AXIS Bank Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 12, 2009, inter alia, has taken the following decisions :

1. To Appoint Shri V. R. Kaundinya, Managing Director, Advanta India Ltd as an Additional Independent Director, with immediate effect.

2. The Bank is proposing to set up a non-banking financial company as a wholly-owned subsidiary to carry out investment and lending activities with focus on infrastructure and other activities as permitted by the Reserve Bank of India.