Axis Bank has informed stock exchanges about receiving penalty orders from the Employees Provident Fund Organization (EPFO) totaling Rs 1.38 crore for delayed remittance of provident fund and allied dues. The bank disclosed this regulatory action through a filing dated April 17, 2026, under Regulation 30 of SEBI listing regulations.

Penalty Details and Financial Impact

The EPFO has imposed penalties comprising two components for violations during the period from April 1, 2022, to June 13, 2024. The orders were issued under sections 7Q and 14B of the Employees Provident Fund Act & Miscellaneous Provisions Act 1952.

Regulatory Orders and Timeline

The bank received two separate orders from the EPFO's Mumbai Regional Office in Dadar, both dated March 27, 2026. The orders specifically address the recovery of interest under section 7Q and damages under section 14B for delayed remittance of provident fund contributions.

Bank's Response and Business Impact

Axis Bank has reviewed the matter and submitted the requisite information to the authorities at the earliest opportunity. The bank has assessed the financial implications of these orders and provided guidance on their expected impact.

The bank stated that it anticipates no significant effect on its financial, operational, or other business activities as a result of these EPFO orders. This assessment suggests that the penalty amount, while substantial in absolute terms, is manageable within the bank's operational framework.

Compliance and Disclosure

The disclosure was made through proper regulatory channels, with the bank informing both the National Stock Exchange of India Limited and BSE Limited about the penalty. The bank has also copied the London Stock Exchange and Singapore Stock Exchange on this communication, maintaining transparency across all listing jurisdictions where its securities are traded.

Axis Bank Limited has announced that its Board of Directors will convene on Saturday, April 25, 2026, to review and approve the bank's audited financial results for the fourth quarter and full year ended March 31, 2026. The meeting notification was issued under Regulation 29 and 50 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Key Board Meeting Agenda

The board meeting will address several critical matters for the bank's financial year 2026 conclusion and future growth plans.

Proposed Fundraising Initiatives

The board will explore comprehensive fundraising options across multiple instrument categories. For equity fundraising, the bank is considering:

• Issue of equity shares and depository receipts
• Qualified Institutions Placement (QIP)
• American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) programs
• Preferential allotment and other permissible modes

These equity fundraising options will be subject to shareholders' approval and necessary governmental, regulatory, and statutory approvals.

Debt Instrument Considerations

For debt fundraising, the bank plans to evaluate issuing various debt instruments including bonds and non-convertible debentures in both Indian and foreign currencies. These issuances will comply with Section 42 of the Companies Act, 2013, SEBI regulations, and Reserve Bank of India guidelines.

Trading Window Restrictions

Axis Bank has implemented a trading window closure for designated persons and their immediate relatives. The restriction period runs from Wednesday, April 1, 2026, through Monday, April 27, 2026, both days inclusive. This measure aligns with the bank's Securities Dealing Code and ensures compliance with insider trading regulations during the financial results announcement period.

The communication was signed by Company Secretary Sandeep Poddar and has been shared with major stock exchanges including the National Stock Exchange of India, BSE Limited, London Stock Exchange, and Singapore Stock Exchange.