REDEMPTION OF US$46,000,000 7.167%CALLABLE HYBRID

Dear Sir(s),

SUB: REDEMPTION OF U.S.$46,000,000 - 7.167% CALLABLE HYBRID TIER I NOTES

Please find enclosed the Notice of Redemption to holders of U.S.$46,000,000 - 7.167 % Callable Hybrid Tier I Notes (ISIN Code: XS0274732295) (The Notes) issued pursuant to Axis Bank Limited, acting through its Singapore Branch (formerly known as UTI Bank Limited, acting through its Singapore Branch) for the redemption of The Notes on 16th November, 2016.

You are requested to take the above on record and bring this to the notice of all concerned.

Thanking you,

Yours Sincerely,

For Axis Bank Limited

Girish V. Koliyote

Company Secretary

Encl.: as above