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|   | I                                                                                                                                                                                   |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   | INDEX                                                                                                                                                                               |   |
|   |                                                                                                                                                                                |   |   |   |   | Page |   |
|   | MEMORANDUM OF      ASSOCIATION                                                                                                                                                      | ...    | ... | ... |   | 1-10 |   |
|   | ARTICLES OF      ASSOCIATION                                                                                                                                                        | ...    | ... | ... |   | 11-67 |   |
|   | Table A      Excluded                                                                                                                                                               | ...    | ... | ... |   | 11 |   |
|   | Interpretation                                                                                                                                                                      | ...    | ... | ... |   | 11 |   |
|   | Preliminary                                                                                                                                                                         | ...    | ... | ... |   | 12 |   |
|   | Capital                                                                                                                                                                             | ...    | ... | ... |   | 12 |   |
|   | Underwriting      Commission                                                                                                                                                        | ...    | ... | ... |   | 16 |   |
|   | Certificates                                                                                                                                                                        | ...    | ... | ... |   | 16 |   |
|   | Calls                                                                                                                                                                               | ...    | ... | ... |   | 17 |   |
|   | Forfeiture,      Surrender and Lien                                                                                                                                                 | ...    | ... | ... |   | 19 |   |
|   | Transfer and      Transmission of Shares                                                                                                                                            | ...    | ... | ... |   | 21 |   |
|   | Conversion of      Shares into Stock                                                                                                                                                | ...    | ... | ... |   | 24 |   |
|   | Increase,      Reduction and Alteration of Capital                                                                                                                                  | ...    | ... | ... |   | 24 |   |
|   | Modification      of Class Rights                                                                                                                                                   | ...    | ... | ... |   | 26 |   |
|   | Joint      Holders                                                                                                                                                                  | ...    | ... | ... |   | 27 |   |
|   | Borrowing      Powers                                                                                                                                                               | ...    | ... | ... |   | 27 |   |
|   | Meetings                                                                                                                                                                            | ...    | ... | ... |   | 29 |   |
|   | Proceedings at      General Meeting                                                                                                                                                 | ...    | ... | ... |   | 32 |   |
|   | Votes of      Members                                                                                                                                                               | ...    | ... | ... |   | 34 |   |
|   | Directors                                                                                                                                                                           | ...    | ... | ... |   | 36 |   |
|   | Rotation of      Directors                                                                                                                                                          | ...    | ... | ... |   | 42 |   |
|   | Chairman ,      Executive Chairman , Chairman and                                                                                                                                   |   |   |   |   |   |   |
|   | Managing      Director , Managing Director                                                                                                                                          |   |   |   |   |   |   |
|   | Whole-time      Director                                                                                                                                                            | ...    | ... | ... |   | 45 |   |
|   | Proceedings of      Directors’ Meetings                                                                                                                                       | ...    | ... | ... |   | 47 |   |
|   | Powers of      Directors                                                                                                                                                            | ...    | ... | ... |   | 50 |   |
|   | Minutes                                                                                                                                                                             | ...    | ... | ... |   | 55 |   |
|   | The      Seal                                                                                                                                                                       | ...    | ... | ... |   | 55 |   |
|   | Establishment      of Reserve Fund                                                                                                                                                  | ...    | ... | ... |   | 56 |   |
|   | Dividends                                                                                                                                                                           | ...    | ... | ... |   | 56 |   |
|   | Capitalisation                                                                                                                                                                      | ...    | ... | ... |   | 58 |   |
|   | Accounts                                                                                                                                                                            | ...    | ... | ... |   | 59 |   |
|   | Audit                                                                                                                                                                               | ...    | ... | ... |   | 60 |   |
|   | Notices                                                                                                                                                                             | ...    | ... | ... |   | 62 |   |
|   | Winding      up                                                                                                                                                                     | ...    | ... | ... |   | 63 |   |
|   | Secrecy      Clause                                                                                                                                                                 | ...    | ... | ... |   | 64 |   |
|   | Indemnity and      Responsibility                                                                                                                                                   | ...    | ... | ... |   | 64 |   |
|   | ANNEXURES      - Resolutions for amendments to the Memorandum & Articles of      Association, copies of Schemes of amalgamations, Order of High Court,      Letters of RBI |   |
|   | 67      onwards                                                                                                                                                                     |   |

----

|   | II                                                             |   |
|--------|----------------------------------------------------------------|--------|
|   | ABSTRACT      OF ARTICLES OF ASSOCIATION OF ICICI BANK LIMITED |   |
|   |                                                           |   |
|   | TABLE      A EXCLUDED                                          |   |
|   |                                                           |   |   |   | Article | Page |   |
|   | Table A not to      apply                                      |   |   |   |   |   |   |
|   | (except as      expressly provided in these presents)          | ...    | ... | ... | 1 | 11 |   |
|   | Company to be      governed by these Articles                  | ...    | ... | ... | 2 | 11 |   |
|   | INTERPRETATION                                                 |   |
|   | “Interpretation”      Clause                       | ...    | ... | ... | 3 | 11 |   |
|   | “The Act” or      “the said Act”       | ...    | ... | ... | 3 | 11 |   |
|   | “Board”,      “Board of Directors”     | ...    | ... | ... | 3 | 11 |   |
|   | “Banking      Act”                                 | ...    | ... | ... | 3 | 11 |   |
|   | “The      Company”                                 | ...    | ... | ... | 3 | 11 |   |
|   | “Directors”                                        | ...    | ... | ... | 3 | 11 |   |
|   | “Financial      Year”                              | ...    | ... | ... | 3 | 11 |   |
|   | “Members”                                          | ...    | ... | ... | 3 | 11 |   |
|   | “Month”                                            | ...    | ... | ... | 3 | 11 |   |
|   | “The      Office”                                  | ...    | ... | ... | 3 | 12 |   |
|   | “These      presents”                              | ...    | ... | ... | 3 | 12 |   |
|   | “The      Register”                                | ...    | ... | ... | 3 | 12 |   |
|   | “The      Registrar”                               | ...    | ... | ... | 3 | 12 |   |
|   | “Regulatory      Agencies”                         | ...    | ... | ... | 3 | 12 |   |
|   | “Reserve      Bank”                                | ...    | ... | ... | 3 | 12 |   |
|   | “The said      Acts”                               | ...    | ... | ... | 3 | 12 |   |
|   | “The      Seal”                                    | ...    | ... | ... | 3 | 12 |   |
|   | “In Writing”      or “Written”         | ...    | ... | ... | 3 | 12 |   |
|   | Singular      number                                           | ...    | ... | ... | 3 | 12 |   |
|   | Gender                                                         | ...    | ... | ... | 3 | 12 |   |
|   | Persons                                                        | ...    | ... | ... | 3 | 12 |   |
|   | Expressions in      the Act to bear the same meaning           |   |   |   |   |   |   |
|   | in      Articles                                               | ...    | ... | ... | 3 | 12 |   |
|   | Marginal      notes                                            | ...    | ... | ... | 3 | 12 |   |
|   | PRELIMINARY                                                    |   |
|   | Copies of      Memorandum and                                  |   |   |   |   |   |   |
|   | Articles of      Association, etc., to be furnished            | ...    | ... | ... | 4 | 12 |   |
|   | CAPITAL                                                        |   |
|   | Capital                                                        | ...    | ... | ... | 5 | 12 |   |
|   | Power to      increase or reduce capital                       | ...    | ... | ... | 5 | 13 |   |
|   | Power to issue      Redeemable Preference Shares               | ...    | ... | ... | 5 | 13 |   |
|   | Register of      Members and Debenture-holders                 | ...    | ... | ... | 6 | 13 |   |

----

|   | III                                                           |   |
|--------|---------------------------------------------------------------|--------|
|   |                                                          |   |   |   | Article | Page |   |
|   | Closure of      Register of Members, etc.                     | ...    | ... | ... | 7 | 13 |   |
|   | Foreign      Register                                         | ...    | ... | ... | 8 | 13 |   |
|   | Inspection of      Register of Members,                       |   |   |   |   |   |   |
|   | Debenture-holders,      etc.                                  | ...    | ... | ... | 9 | 14 |   |
|   | Extracts or      Copy of Register, etc.                       | ...    | ... | ... | 9 | 14 |   |
|   | The Company to      send copy of Register, etc.               | ...    | ... | ... | 9 | 14 |   |
|   | Nature and      numbering of shares                           | ...    | ... | ... | 10 | 14 |   |
|   | Shares to be      numbered progressively and no share         |   |   |   |   |   |   |
|   | to be      subdivided                                         | ...    | ... | ... | 10 | 14 |   |
|   | Restriction on      allotment                                 | ...    | ... | ... | 11 | 14 |   |
|   | Shares at the      disposal of the Directors                  | ...    | ... | ... | 12 | 14 |   |
|   | Directors may      allot shares as fully paid-up or           |   |   |   |   |   |   |
|   | partly      paid-up                                           | ...    | ... | ... | 13 | 15 |   |
|   | Unclassified      shares                                      | ...    | ... | ... | 14 | 15 |   |
|   | Issue of      shares by General Meeting                       | ...    | ... | ... | 15 | 15 |   |
|   | Acceptance of      shares                                     | ...    | ... | ... | 16 | 15 |   |
|   | Deposit and      calls, etc., to be debt payable immediately  | ...    | ... | ... | 17 | 15 |   |
|   | Issue of      shares at a discount                            | ...    | ... | ... | 18 | 15 |   |
|   | Instalments on      shares                                    | ...    | ... | ... | 19 | 16 |   |
|   | Calls on      shares of the same class to be on uniform basis | ...    | ... | ... | 20 | 16 |   |
|   | Company not      bound to recognise any interest in shares    |   |   |   |   |   |   |
|   | other than      that of the registered holders                | ...    | ... | ... | 21 | 16 |   |
|   | Company’s      funds may not be employed / lent for     |   |   |   |   |   |   |
|   | acquiring      shares of the Company                          | ...    | ... | ... | 22 | 16 |   |
|   | UNDERWRITING      COMMISSION                                  |   |
|   | Commission for      subscribing to shares                     | ...    | ... | ... | 23 | 16 |   |
|   | CERTIFICATES                                                  |   |
|   | Issue of      certificates                                    | ...    | ... | ... | 24 | 16 |   |
|   | Delivery of      share certificates                           | ...    | ... | ... | 24 | 16 |   |
|   | Issue of new      certificate in place of one defaced,        |   |   |   |   |   |   |
|   | lost or      destroyed                                        | ...    | ... | ... | 25 | 16 |   |
|   | Manner of      issue, renewal, etc., of certificate           | ...    | ... | ... | 25 | 17 |   |
|   | Fractional      certificates                                  | ...    | ... | ... | 26 | 17 |   |
|   | CALLS                                                         |   |
|   | Calls                                                         | ...    | ... | ... | 27 | 17 |   |
|   | Call to date      from resolution                             | ...    | ... | ... | 28 | 17 |   |
|   | Notice of      call                                           | ...    | ... | ... | 29 | 18 |   |
|   | Directors may      extend time                                | ...    | ... | ... | 30 | 18 |   |
|   | Amount payable      at fixed time or by instalments as calls  | ...    | ... | ... | 31 | 18 |   |
|   | When interest      on call or instalment payable              | ...    | ... | ... | 32 | 18 |   |
|   | Partial      payment not to preclude forfeiture               | ...    | ... | ... | 33 | 18 |   |
|   | Payment in      advance of calls may carry interest           | ...    | ... | ... | 34 | 18 |   |
|   | Members not      entitled to privileges of membership         |   |   |   |   |   |   |
|   | until all      calls are paid                                 | ...    | ... | ... | 35 | 18 |   |
|   | Evidence in      actions by Company against shareholders      | ...    | ... | ... | 36 | 18 |   |

----

|   | IV                                                              |   |
|--------|-----------------------------------------------------------------|--------|
|   |                                                            |   |   |   | Article | Page |   |
|   | FORFEITURE,      SURRENDER AND LIEN                             |   |
|   | If call or      instalment not paid, notice must be given       | ...    | ... | ... | 37 | 19 |   |
|   | Form of      notice                                             | ...    | ... | ... | 38 | 19 |   |
|   | In default of      payment, shares may be forfeited             | ...    | ... | ... | 39 | 19 |   |
|   | Entry of      forfeiture on Register of Members                 | ...    | ... | ... | 40 | 19 |   |
|   | Forfeited      shares to be property of the Company             |   |   |   |   |   |   |
|   | and may be      sold, etc.                                      | ...    | ... | ... | 41 | 19 |   |
|   | Power to annul      forfeiture                                  | ...    | ... | ... | 42 | 19 |   |
|   | Effect of      forfeiture                                       | ...    | ... | ... | 43 | 19 |   |
|   | Shareholders      liable to pay money and interest              |   |   |   |   |   |   |
|   | owing at the      time of forfeiture                            | ...    | ... | ... | 44 | 19 |   |
|   | Certificate of      forfeiture                                  | ...    | ... | ... | 45 | 20 |   |
|   | Title of      purchaser and allottee of forfeited share         | ...    | ... | ... | 46 | 20 |   |
|   | Cancellation      of share certificates in respect of           |   |   |   |   |   |   |
|   | forfeited      shares                                           | ...    | ... | ... | 47 | 20 |   |
|   | Application of      forfeiture provisions                       | ...    | ... | ... | 48 | 20 |   |
|   | Company’s lien      on shares                             | ...    | ... | ... | 49 | 20 |   |
|   | As to      enforcing lien by sale                               | ...    | ... | ... | 50 | 20 |   |
|   | Application of      proceeds of sale                            | ...    | ... | ... | 51 | 20 |   |
|   | Surrender of      shares                                        | ...    | ... | ... | 52 | 20 |   |
|   | TRANSFER      AND TRANSMISSION OF SHARES                        |   |
|   | Register of      transfers                                      | ...    | ... | ... | 53 | 21 |   |
|   | Transfer not      to be registered except on production         | ...    | ... | ... | 54 | 21 |   |
|   | of instrument      of transfer                                  |   |   |   |   |   |   |
|   | Transfer of      instrument by legal representative             | ...    | ... | ... | 55 | 21 |   |
|   | Application      for transfer                                   | ...    | ... | ... | 56 | 21 |   |
|   | Company’s      power to refuse transfer                   | ...    | ... | ... | 57 | 22 |   |
|   | Transferor      liable until the transferee entered on Register | ...    | ... | ... | 58 | 22 |   |
|   | Directors may      refuse to register transfer                  | ...    | ... | ... | 59 | 22 |   |
|   | Notice of      refusal to transferee and transferor             | ...    | ... | ... | 60 | 23 |   |
|   | Transfer to      minor, etc.                                    | ...    | ... | ... | 61 | 23 |   |
|   | Custody of      transfer deeds                                  | ...    | ... | ... | 62 | 23 |   |
|   | Title to      shares of deceased holder                         | ...    | ... | ... | 63 | 23 |   |
|   | Registration      of persons entitled to shares otherwise       |   |   |   |   |   |   |
|   | than by      transfer (Transmission Clause)                     | ...    | ... | ... | 64 | 23 |   |
|   | Refusal to      register nominee                                | ...    | ... | ... | 65 | 23 |   |
|   | Board may      require evidence of transmission                 | ...    | ... | ... | 66 | 23 |   |
|   | Fee on      transfer or transmission                            | ...    | ... | ... | 67 | 24 |   |
|   | The Company      not liable for disregard of a                  |   |   |   |   |   |   |
|   | notice      prohibiting registration of transfer                | ...    | ... | ... | 68 | 24 |   |
|   | CONVERSION      OF SHARES INTO STOCK                            |   |
|   | Conversion of      shares into stock and reconversion           | ...    | ... | ... | 69 | 24 |   |
|   | Transfer of      stock                                          | ...    | ... | ... | 70 | 24 |   |
|   | Rights of      stockholders                                     | ...    | ... | ... | 71 | 24 |   |
|   | Share      regulations to apply                                 | ...    | ... | ... | 72 | 24 |   |

----

|                                               | V                                                                     |   |
|----------------------------------------------------|-----------------------------------------------------------------------|--------|
|                                               |                                                                  |   |   |   | Article | Page |   |
| INCREASE,      REDUCTION AND ALTERATION OF CAPITAL |
|                                               | Increase of      capital                                              | ...    | ... | ... | 73 | 24 |   |
|                                               | On what      conditions new shares may be issued                      | ...    | ... | ... | 74 | 25 |   |
|                                               | Further issue      of capital                                         | ...    | ... | ... | 75 | 25 |   |
|                                               | Shares under      control of General Meeting                          | ...    | ... | ... | 76 | 25 |   |
|                                               | Same as      original capital                                         | ...    | ... | ... | 77 | 26 |   |
|                                               | Reduction of      capital                                             | ...    | ... | ... | 78 | 26 |   |
|                                               | Division and      subdivision of shares                               | ...    | ... | ... | 79 | 26 |   |
|                                               | Directors’      discretion regarding subdivision                | ...    | ... | ... | 80 | 26 |   |
|                                               | Company may      purchase its own shares                              | ...    | ... | ... | 80A | 26 |   |
| MODIFICATION      OF CLASS RIGHTS                  |
|                                               | Power to      modify right of different classes of shareholders       |   |   |   |   |   |
|                                               | and the rights      of dissentient shareholders                       | ...    | ... | ... | 81 | 26 |   |
| JOINT-HOLDERS                                      |
|                                               | Joint-holders                                                         | ...    | ... | ... | 82 | 27 |   |
|                                               |                                                                  |   |   |   |   |   |   |
|                                               | Company may      refuse to register more than three persons           | ...    | ... | ... |   |   |   |
|                                               | Joint and      several liability for all payments in respect          |   |   |   |   |   |   |
|                                               | of      shares                                                        | ...    | ... | ... | 82 | 27 |   |
|                                               | Title of      survivors                                               | ...    | ... | ... | 82 | 27 |   |
|                                               | Receipt of one      joint-holder sufficient                           | ...    | ... | ... | 82 | 27 |   |
|                                               | Delivery      of certificates and giving notice to first-named holder | ...    | ... | ... | 82 | 27 |   |
|                                               | Votes of      joint-holders                                           | ...    | ... | ... | 82 | 27 |   |
| BORROWING      POWERS                              |
|                                               | Power to      borrow                                                  | ...    | ... | ... | 83 | 27 |   |
|                                               | Bonds,      debentures, etc., to be subject to the control            |   |   |   |   |   |   |
|                                               | of      Directors                                                     | ...    | ... | ... | 84 | 28 |   |
|                                               | Securities may      be assignable free from equities                  | ...    | ... | ... | 85 | 28 |   |
|                                               | Issue of      bonds, debentures, etc., at discount, etc.,             |   |   |   |   |   |   |
|                                               | or with      special privilege                                        | ...    | ... | ... | 86 | 28 |   |
|                                               | Mortgage of      uncalled capital                                     | ...    | ... | ... | 87 | 28 |   |
|                                               | Register of      charges                                              | ...    | ... | ... | 88 | 28 |   |
| MEETINGS                                           |
|                                               | Annual General      Meeting                                           | ...    | ... | ... | 89 | 29 |   |
|                                               | Extraordinary      General Meetings                                   | ...    | ... | ... | 90 | 29 |   |
|                                               | Calling of      Extraordinary General Meetings                        | ...    | ... | ... | 91 | 29 |   |
|                                               | Notice of      Meeting                                                | ...    | ... | ... | 92 | 30 |   |
|                                               | Contents and      manner of service of notice and                     |   |   |   |   |   |   |
|                                               | persons on      whom it is to be served                               | ...    | ... | ... | 93 | 30 |   |
|                                               | Omission to      give notice not to invalidate the                    |   |   |   |   |   |   |
|                                               | proceedings at      the meeting                                       | ...    | ... | ... | 93 | 31 |   |
|                                               | Business at      the Annual General Meeting                           | ...    | ... | ... | 94 | 31 |   |
|                                               | Explanatory      Statement to be annexed to the notice                | ...    | ... | ... | 94 | 31 |   |
|                                               | Ordinary and      Special Resolutions                                 | ...    | ... | ... | 95 | 31 |   |
|                                               | Resolutions      requiring Special Notice                             | ...    | ... | ... | 96 | 32 |   |

----

|                                | VI                                                              |                              |
|-------------------------------------|-----------------------------------------------------------------|-----------------------------------|
|                                |                                                            |                              |   |   | Article | Page |   |
| PROCEEDINGS      AT GENERAL MEETING |
|                                | Quorum at      General Meeting                                  | ...                               | ... | ... | 97 | 32 |   |
|                                | Business      confined to election of Chairman whilst           |                              |   |   |   |   |   |
|                                | Chair      vacant                                               | ...                               | ... | ... | 98 | 32 |   |
|                                | Chairman of      General Meeting                                | ...                               | ... | ... | 99 | 32 |   |
|                                | Proceedings      when quorum not present                        | ...                               | ... | ... | 100 | 32 |   |
|                                | Adjournment of      meeting                                     | ...                               | ... | ... | 101 | 33 |   |
|                                | What is to be      evidence of the passing of                   |                              |   |   |   |   |   |
|                                | resolution      where poll not demanded                         | ...                               | ... | ... | 102 | 33 |   |
|                                | Demand for      poll                                            | ...                               | ... | ... | 103 | 33 |   |
|                                | Time of taking      poll                                        | ...                               | ... | ... | 104 | 33 |   |
|                                | Right of      Member to use his votes differently               | ...                               | ... | ... | 105 | 33 |   |
|                                | Scrutineers at      poll                                        | ...                               | ... | ... | 106 | 33 |   |
|                                | Manner of      taking poll and result thereof                   | ...                               | ... | ... | 107 | 34 |   |
|                                | Motion how      decided in case of equality of votes            | ...                               | ... | ... | 108 | 34 |   |
|                                | Demand for      poll not to prevent transaction                 |                              |   |   |   |   |   |
|                                | of other      business                                          | ...                               | ... | ... | 109 | 34 |   |
|                                | Minutes of      General Meeting                                 | ...                               | ... | ... | 110 | 34 |   |
|                                | Inspection of      Minutes Books                                | ...                               | ... | ... | 111 | 34 |   |
|                                | Copies of      Minutes                                          | ...                               | ... | ... | 112 | 34 |   |
| VOTES      OF MEMBERS               |
|                                | Votes                                                           | ...                               | ... | ... | 113 | 34 |   |
|                                | Voting by      Members of unsound mind                          | ...                               | ... | ... | 114 | 34 |   |
|                                | Voting by Body      Corporates                                  | ...                               | ... | ... | 115 | 34 |   |
|                                | Votes in      respect of shares of deceased Members             | ...                               | ... | ... | 116 | 35 |   |
|                                | Qualification      of proxy                                     | ...                               | ... | ... | 117 | 35 |   |
|                                | Votes may be      given by proxy or attorney                    | ...                               | ... | ... | 118 | 35 |   |
|                                | Execution of      instrument of proxy                           | ...                               | ... | ... | 119 | 35 |   |
|                                | Deposit of      instruments of appointment and inspection  |      ... | ... | ... | 120 | 35 |   |
|                                | Custody of the      instrument                                  | ...                               | ... | ... | 121 | 36 |   |
|                                | Validity of      votes given by proxy notwithstanding           |                              |   |   |   |   |   |
|                                | death of      Member, etc.                                      | ...                               | ... | ... | 122 | 36 |   |
|                                | Time for      objections to votes                               | ...                               | ... | ... | 123 | 36 |   |
|                                | Chairman of      any meeting to be the judge of                 |                              |   |   |   |   |   |
|                                | validity of      any vote                                       | ...                               | ... | ... | 124 | 36 |   |
|                                | Equal rights      of Members                                    | ...                               | ... | ... | 125 | 36 |   |
| DIRECTORS                           |
|                                | Number of      Directors                                        | ...                               | ... | ... | 126 | 36 |   |
|                                | First      Directors                                            | ...                               | ... | ... | 127 | 36 |   |
|                                | Non-rotational      Directors                                   | ...                               | ... | ... | 128 | 36 |   |
|                                | Debenture      Director                                         | ...                               | ... | ... | 129 | 37 |   |
|                                | Alternate      Director                                         | ...                               | ... | ... | 130 | 37 |   |
|                                | Share      qualification                                        | ...                               | ... | ... | 131 | 38 |   |
|                                | Remuneration      of Directors                                  | ...                               | ... | ... | 132 | 38 |   |

----

|   | VII                                                                                                                |   |
|--------|--------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                               |   |   |   | Article | Page |   |
|   | Directors, not      bona fide residents of the place where a                                                       |   |   |   |   |   |   |
|   | meeting is      held, may receive extra compensation                                                               | ...    | ... | ... | 133 | 38 |   |
|   | Extra      remuneration to Directors for special work                                                              | ...    | ... | ... | 134 | 38 |   |
|   | Additional      Director                                                                                           | ...    | ... | ... | 135 | 39 |   |
|   | Casual      vacancy                                                                                                | ...    | ... | ... | 136 | 39 |   |
|   | Directors may      act notwithstanding vacancy                                                                     | ...    | ... | ... | 137 | 39 |   |
|   | Office of      Directors becoming vacant                                                                           | ...    | ... | ... | 138 | 39 |   |
|   | Period from      which disqualification to take effect                                                             | ...    | ... | ... | 138 | 40 |   |
|   | Disclosure of      interest by Director                                                                            | ...    | ... | ... | 139 | 40 |   |
|   | Interested      Director not to participate or vote in                                                             |   |   |   |   |   |   |
|   | Board      Meetings                                                                                                | ...    | ... | ... | 140 | 41 |   |
|   | Directors may      be Directors of companies promoted                                                              |   |   |   |   |   |   |
|   | by the      Company                                                                                                | ...    | ... | ... | 141 | 41 |   |
|   | Disclosures by      Director on appointment                                                                        | ...    | ... | ... | 141 | 41 |   |
|   | Register of      Directors, etc.                                                                                   | ...    | ... | ... | 141 | 42 |   |
|   | Director to      give notice of his shareholdings                                                                  | ...    | ... | ... | 141 | 42 |   |
|   | Disclosure by      Director of interest in any other                                                               |   |   |   |   |   |   |
|   | company,      etc.                                                                                                 | ...    | ... | ... | 141 | 42 |   |
|   | ROTATION      OF DIRECTORS                                                                                         |   |
|   | Directors to      retire annually how determined                                                                   | ...    | ... | ... | 142 | 42 |   |
|   | Which      Directors to retire                                                                                     | ...    | ... | ... | 143 | 42 |   |
|   | Re-election                                                                                                        | ...    | ... | ... | 144 | 42 |   |
|   | Company to      fill up vacancy                                                                                    | ...    | ... | ... | 145 | 42 |   |
|   | Retiring      Directors to remain in office till                                                                   |   |   |   |   |   |   |
|   | successors      appointed                                                                                          | ...    | ... | ... | 146 | 42 |   |
|   | Appointment of      Directors to be voted on individually                                                          | ...    | ... | ... | 147 | 43 |   |
|   | Company may      increase or reduce the number                                                                     |   |   |   |   |   |   |
|   | of      Directors                                                                                                  | ...    | ... | ... | 148 | 43 |   |
|   | Right of      persons other than retiring Directors to                                                             |   |   |   |   |   |   |
|   | stand for      Directorship                                                                                        | ...    | ... | ... | 149 | 43 |   |
|   | Removal of      Directors                                                                                          | ...    | ... | ... | 150 | 44 |   |
|   | CHAIRMAN      - EXECUTIVE CHAIRMAN - CHAIRMAN AND MANAGING DIRECTOR - MANAGING DIRECTOR      - WHOLE-TIME DIRECTOR |   |
|   | Board may      appoint Chairman, Managing Director(s)                                                              |   |   |   |   |   |   |
|   | or Whole-time      Director(s)                                                                                     | ...    | ... | ... | 151 | 45 |   |
|   | What      provisions they will be subject to                                                                       | ...    | ... | ... | 151(d) | 46 |   |
|   | Remuneration      of Managing or Whole-time Director(s)                                                            | ...    | ... | ... | 151 | 46 |   |
|   | PROCEEDINGS      OF DIRECTORS’ MEETINGS                                                                      |   |
|   | Meeting of      Directors                                                                                          | ...    | ... | ... | 152 | 47 |   |
|   | When meeting      to be convened                                                                                   | ...    | ... | ... | 153 | 47 |   |
|   | Notice of      meetings                                                                                            | ...    | ... | ... | 154 | 47 |   |
|   | Quorum and its      competence to exercise powers                                                                  | ...    | ... | ... | 155 | 47 |   |
|   | Procedure      where meetings adjourned for want of quorum                                                         | ...    | ... | ... | 156 | 48 |   |

----

|   | VIII                                                              |   |
|--------|-------------------------------------------------------------------|--------|
|   |                                                              |   |   |   | Article | Page |   |
|   | Directors may      appoint Committees                             | ...    | ... | ... | 157 | 48 |   |
|   | Meetings of      Committees how to be governed                    | ...    | ... | ... | 158 | 48 |   |
|   | Chairman to      preside over meetings of Board                   | ...    | ... | ... | 159 | 48 |   |
|   | Questions at      Board Meetings to be decided                    | ...    | ... | ... | 159 | 48 |   |
|   | Powers to be      exercised at meeting                            | ...    | ... | ... | 160 | 48 |   |
|   | Certain powers      to be exercised by Board at meeting only      | ...    | ... | ... | 161 | 48 |   |
|   | Consent of the      Company necessary for exercise                |   |   |   |   |   |   |
|   | of certain      powers                                            | ...    | ... | ... | 162 | 49 |   |
|   | Acts of Board      or Committees valid notwithstanding            |   |   |   |   |   |   |
|   | defect of      appointment                                        | ...    | ... | ... | 163 | 50 |   |
|   | Resolution by      circular                                       | ...    | ... | ... | 164 | 50 |   |
|   | Reconstitution      of the Board                                  | ...    | ... | ... | 165 | 50 |   |
|   | POWERS      OF DIRECTORS                                          |   |
|   | General powers      of Company vested in Directors                | ...    | ... | ... | 166 | 50 |   |
|   | Specific      powers given to Directors                           | ...    | ... | ... | 167 | 51 |   |
|   | To pay costs      of incorporation                                | ...    | ... | ... | 167 | 51 |   |
|   | Seal      abroad                                                  | ...    | ... | ... | 167 | 51 |   |
|   | Acquiring      properties, rights, etc.                           | ...    | ... | ... | 167 | 51 |   |
|   | To pay for      property                                          | ...    | ... | ... | 167 | 51 |   |
|   | To insure      properties                                         | ...    | ... | ... | 167 | 51 |   |
|   | To open bank      accounts                                        | ...    | ... | ... | 167 | 51 |   |
|   | To secure      contracts by mortgage                              | ...    | ... | ... | 167 | 51 |   |
|   | To attach      conditions                                         | ...    | ... | ... | 167 | 51 |   |
|   | To accept      surrender of shares                                | ...    | ... | ... | 167 | 52 |   |
|   | To appoint      trustees                                          | ...    | ... | ... | 167 | 52 |   |
|   | To institute,      act, conduct legal proceedings                 | ...    | ... | ... | 167 | 52 |   |
|   | To refer to      arbitration                                      | ...    | ... | ... | 167 | 52 |   |
|   | To act in      matters of bankruptcy and insolvency               | ...    | ... | ... | 167 | 52 |   |
|   | To give      receipts                                             | ...    | ... | ... | 167 | 52 |   |
|   | To determine      who shall be entitled to sign on                |   |   |   |   |   |   |
|   | Company’s      behalf                                       | ...    | ... | ... | 167 | 52 |   |
|   | To invest      moneys                                             | ...    | ... | ... | 167 | 52 |   |
|   | To give      security by way of indemnity                         | ...    | ... | ... | 167 | 52 |   |
|   | To give      interest in particular business or transaction, etc. | ...    | ... | ... | 167 | 52 |   |
|   | To provide for      the welfare of employees, etc.                | ...    | ... | ... | 167 | 53 |   |
|   | To subscribe      to charitable funds                             | ...    | ... | ... | 167 | 53 |   |
|   | To establish      revenue fund                                    | ...    | ... | ... | 167 | 53 |   |
|   | To appoint      officers, etc.                                    | ...    | ... | ... | 167 | 53 |   |
|   | To ensure      compliance of local laws                           | ...    | ... | ... | 167 | 54 |   |
|   | To establish      Local Boards                                    | ...    | ... | ... | 167 | 54 |   |
|   | To appoint      attorneys                                         | ...    | ... | ... | 167 | 54 |   |
|   | Delegation of      powers                                         | ...    | ... | ... | 167 | 54 |   |
|   | Subdelegation      of powers                                      | ...    | ... | ... | 167 | 54 |   |
|   | To enter into      contracts                                      | ...    | ... | ... | 167 | 54 |   |

----

| IX                                 |
|------------------------------------|
|                               |   |   |   |   | Article | Page |   |
|                               | Provisions of      the Act to be complied with by Directors | ... | ... | ... | 168 | 55 |   |
| MINUTES                            |
|                               | Minutes of      proceedings of Board of Directors |   |   |   |   |   |   |
|                               | and      Committees | ... | ... | ... | 169 | 55 |   |
|                               | By whom      Minutes to be signed and effect thereof | ... | ... | ... | 170 | 55 |   |
| THE      SEAL                      |
|                               | The Seal, its      custody and use | ... | ... | ... | 171 | 55 |   |
| ESTABLISHMENT      OF RESERVE FUND |
|                               | Reserve      funds | ... | ... | ... | 172 | 56 |   |
| DIVIDENDS                          |
|                               | Division of      profit | ... | ... | ... | 173 | 56 |   |
|                               | Capital paid      up in advance at interest not |   |   |   |   |   |   |
|                               | to earn      dividend | ... | ... | ... | 174 | 56 |   |
|                               | Dividends in      proportion to amount paid up | ... | ... | ... | 175 | 56 |   |
|                               | Declaration of      dividend and writing off |   |   |   |   |   |   |
|                               | capitalised      expenses | ... | ... | ... | 176 | 56 |   |
|                               | Power to      declare dividend without writing off | ... | ... | ... | 176 | 56 |   |
|                               | The Company in      General Meeting may |   |   |   |   |   |   |
|                               | declare a      dividend | ... | ... | ... | 177 | 56 |   |
|                               | No larger      dividend than recommended by Directors, etc. | ... | ... | ... | 178 | 56 |   |
|                               | Interim      dividend | ... | ... | ... | 179 | 57 |   |
|                               | Retention of      dividends | ... | ... | ... | 180 | 57 |   |
|                               | No Member to      receive dividend whilst indebted to the Company |   |   |   |   |   |   |
|                               | and Company’s      right of reimbursement thereof | ... | ... | ... | 181 | 57 |   |
|                               | Transfer of      shares must be registered | ... | ... | ... | 182 | 57 |   |
|                               | Dividends how      remitted | ... | ... | ... | 183 | 57 |   |
|                               | Unclaimed      dividends | ... | ... | ... | 184 | 57 |   |
|                               | Dividend and      call together | ... | ... | ... | 185 | 58 |   |
|                               | Special      provision in reference to dividend | ... | ... | ... | 186 | 58 |   |
| CAPITALISATION                     |
|                               | Capitalisation | ... | ... | ... | 187 | 58 |   |
| ACCOUNTS                           |
|                               | Accounts | ... | ... | ... | 188 | 59 |   |
|                               | Furnishing of      statement of accounts and reports | ... | ... | ... | 189 | 59 |   |
|                               | Form and      contents of Balance Sheet and |   |   |   |   |   |   |
|                               | Profit and      Loss Account | ... | ... | ... | 190 | 60 |   |
|                               | Authentication      of Balance Sheet and other documents |   |   |   |   |   |   |
|                               | copies thereof      to be sent to Members | ... | ... | ... | 191 | 60 |   |
|                               | Copies of      Balance Sheet, Profit and Loss Account and |   |   |   |   |   |   |
|                               | Auditors’      Report shall be filed with the Registrar | ... | ... | ... | 192 | 60 |   |
| AUDIT                              |
|                               | Accounts to be      audited | ... | ... | ... | 193 | 60 |   |
|                               | Appointment      and qualification of Auditors | ... | ... | ... | 194 | 60 |   |
|                               | Branch      audit | ... | ... | ... | 195 | 60 |   |
|                               | Remuneration      of Auditors | ... | ... | ... | 196 | 60 |   |

----

|   | X                                                          |      |
|--------|------------------------------------------------------------|-----------|
|   |                                                       |      |   |   | Article | Page |   |
|   | Auditors:      their Report, powers and duties             | ...       | ... | ... | 197 | 61 |   |
|   | Auditors’      right to attend meetings              | ...       | ... | ... | 198 | 61 |   |
|   | Additional      information in Auditors’ Report      | ...       | ... | ... | 199 | 61 |   |
|   | Reasons for      qualifications in Auditors’ Report  | ...       | ... | ... | 200 | 62 |   |
|   | No qualifying      remark in Auditors’ Report for    |      |   |   |   |   |   |
|   | non-disclosure      of certain information                 | ...       | ... | ... | 201 | 62 |   |
|   | Accounts when      audited and approved to be conclusive   |      |   |   |   |   |   |
|   | except as to      errors discovered within three months    |  ... | ... | ... | 202 | 62 |   |
|   | NOTICES                                                    |      |
|   | Notice                                                     | ...       | ... | ... | 203 | 62 |   |
|   | Notice on      Members having no registered address        | ...       | ... | ... | 204 | 63 |   |
|   | Notice on      persons acquiring shares on death or        |      |   |   |   |   |   |
|   | insolvency of      Member                                  | ...       | ... | ... | 205 | 63 |   |
|   | Persons      entitled to notice of General Meetings        | ...       | ... | ... | 206 | 63 |   |
|   | Notice by      Company and signature thereto               | ...       | ... | ... | 207 | 63 |   |
|   | Transferee,      etc., bound by prior notices              | ...       | ... | ... | 208 | 63 |   |
|   | Notice valid      though Member deceased                   | ...       | ... | ... | 209 | 63 |   |
|   | WINDING      UP                                            |      |
|   | Winding      up                                            | ...       | ... | ... | 210 | 63 |   |
|   | Distribution      in specie or kind                        | ...       | ... | ... | 211 | 63 |   |
|   | Distribution      of assets                                | ...       | ... | ... | 212 | 64 |   |
|   | Right of      shareholders in case of sale                 | ...       | ... | ... | 213 | 64 |   |
|   | SECRECY      CLAUSE                                        |      |
|   | Secrecy      clause                                        | ...       | ... | ... | 214 | 64 |   |
|   | INDEMNITY      AND RESPONSIBILITY                          |      |
|   | Directors’ and      others’ right to indemnity | ...       | ... | ... | 215 | 64 |   |

----

COMPANIES ACT,1956

| I.     | The name of the Company is ICICI      BANK LIMITED.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| II.    | The Registered      Office of the Company will be situated in the State of      Gujarat.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| III.   | The objects      for which the Company is established are :                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| A.     | THE      MAIN OBJECTS TO BE PURSUED BY THE COMPANY ON ITS INCORPORATION ARE      :                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 1.     | To establish      and carry on business of banking in any part of India or outside      India.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.     | To carry on      the business of accepting, for the purpose of lending or investment, of      deposits of money repayable on demand or otherwise and withdrawable by      cheque, draft, order or otherwise.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 3.     | To borrow,      raise or take up money, lend or advance money with or without interest      either upon or without security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 4.     | To      draw, make, execute, issue, endorse, negotiate, accept, discount, buy,      sell, collect and deal in bills of exchange, hundies, promissory notes,      coupons, drafts, bills of lading, railway receipts, warrants, debentures,      bonds, mortgage-backed securities, letters of credit or obligations,      certificates, scrips and other instruments and securities whether      transferable or negotiable or mercantile or not.                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 5.     | To grant and      issue letters of credit, traveller’s cheques and circular notes, buy, sell      and deal in bullion and specie.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 6.     | To receive all      kinds of bonds, scrips or valuables on deposit or for safe custody or      otherwise, provide safe deposit vaults, collect and transmit money,      negotiable instruments and all securities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 7.     | To      buy, acquire, issue on commission, deal, sell, dispose of, exchange,      convert, underwrite, subscribe, participate, invest in and hold whether on      its own account or on behalf of any person, body corporate, company,      society, firm or association of persons whether incorporated or not,      shares, stocks, funds, debentures, debenture stocks, units, promissory      notes, bills of exchange, bonds, warrants, participation certificates or      participation units, other money market or capital market instruments,      obligations and securities and investments of all kinds issued or      guaranteed by any government, state, dominion, sovereign body, commission,      public body or authority, supreme, local or municipal or company or body,      whether incorporated or not or by any person or    association. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 7A2    | To securitise, purchase, acquire,      invest in, transfer, sell, dispose of or trade in any financial asset      whatsoever,      receivables,   debts,   whether   unsecured   or   secured   by   mortgage   of   immoveables   or      charge on movables or otherwise, securitised debts, asset or      mortgaged-backed securities or mortgage- backed securitised debts and to manage,      service or collect the same and to appoint managing, servicing or      collection agent therefor and to issue certificates or other instruments      in respect thereof to public or private  investors                                                                                                  |

----

| 1 | The      name of the Company has been changed from ICICI Banking Corporation      Limited to ICICI Bank Limited pursuant to the Special Resolution passed by      the Members at their Fifth Annual General Meeting held on June 14, 1999      and approval of the Registrar of Companies vide fresh certificate of incorporation      dated September      10, 1999. |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2 | Clause      7A has been inserted pursuant to the Special Resolution passed by the      Members by means of postal ballot, the result of which was declared at the      Eighth Annual General Meeting held on September 16, 2002 as also approved      by Reserve Bank of India vide its letter dated May 12,      2004. |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | and      to guarantee and insure the due payment, fulfillment and performance of      obligations in respect thereof or in connection therewith and to promote,      establish, undertake, organise, manage, hold or dispose of any special      purpose entity, body corporate or vehicle for carrying on all or any such      activities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 8.     | To act as      foreign exchange dealer and to buy, sell or otherwise deal in all kinds of      foreign currencies including foreign bank notes, foreign currency options,      forward covers, swaps of all kinds and to transact for itself or on behalf      of any person, body corporate, company, society, firm or association of      persons whether incorporated or not, all transactions in foreign      currencies.                                                                                                                                                                                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 9.     | To carry on      the activities of bill discounting, rediscounting bills, marketing,      factoring, dealing in commercial paper, treasury bills, certificate of      deposits and other financial instruments.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.    | To act as      agents for any government or local authority or any other person or      persons, carry on agency business of any description including clearing      and forwarding of goods, give receipts and discharges and otherwise act as      an attorney on behalf of customers, but excluding the business of a      managing agent or secretary and treasurer of a company.                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 11.    | To contract      for public and private loans and advances and negotiate and issue the      same.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 12.    | To form,      constitute, promote, act as managing and issuing agents, brokers,      sub-brokers, prepare projects and feasibility reports for and on behalf of      any company, association, society, firm, individual and body      corporate.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 13.    | To carry on      and transact every kind of guarantee and indemnity    business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 14.    | To undertake      and execute trusts and the administration of estates as executor or      trustee.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 15.    | To      act as Registrar and Transfer Agents and Registrar to the Issue, Issue      Agents and Paying Agents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 16.    | To provide      custodial and depository services and to do all such things as may be      advised, permitted or required for this purpose.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 17.    | To      effect, insure, guarantee, underwrite, participate in managing and      carrying out of any issue, public or private, of state, municipal or other      loans or of shares, stock, debentures or debenture stock of any company,      corporation or association and the lending of money for the purpose of any      such issue.                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 183.   | To      provide credit, charge, debit, saving, investment or other facilities to      any person or persons (whether individuals, firms, companies, bodies,      corporate or other entities), whether in the private or public sector by      issuance of credit, charge, debit, stored value, prepaid, smart or other      cards whether private label, co- branded, affinity or otherwise and to      establish and maintain card acceptance network (including physical,      electronic, computer or automated machines network) and make payments or      provide settlement service to the merchants or issuing banks on account of      usage by the cardholders of the credit, charge, debit, stored value,      prepaid, smart or other cards whether private label, co- branded, affinity      or otherwise. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 19.    | To provide or      assist in obtaining, directly or indirectly, advice or services in various      fields such as management, finance, investment, technology,      administration, commerce, law, economics, labour, human resources      development, industry, public relations, statistics, science, computers,      accountancy, taxation, fund management, foreign exchange dealings, quality      control, processing, strategic planning and valuation.                                                                                                                                                                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 20.    | To do any      other form of business which the Government of India may specify as a form      of business in which it is lawful for a banking company to      engage.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

----

| 3 | The following      clause 18 has been replaced by the above new clause 18 pursuant to the      Special Resolution passed by the Members by means of postal ballot, the      result of which was declared at the Eighth Annual General Meeting held on      September 16, 2002 as also approved by Reserve Bank of India vide its      letter dated May 12,2004. |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18. | To  issue  debit  or  credit  cards  to  customers  or  any  other  person. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 20A4.  | To carry on      the business of assisting industrial, infrastructure and commercial      enterprises : in general by |
|--------|-----------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                  |

|   | i)     | assisting in      the creation, expansion and modernisation of such      enterprises;                                                                    |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                     |
|   | ii)    | encouraging      and promoting the participation of capital, both internal and external in      such enterprises; and in      particular by              |
|   |   |                                                                                                                                                     |
|   | i)     | providing      finance in the form of long, medium or short term loans or equity      participations;                                                    |
|   |   |                                                                                                                                                     |
|   | ii)    | sponsoring and      underwriting new issues of shares and securities;                                                                                    |
|   |   |                                                                                                                                                     |
|   | iii)   | guaranteeing      loans from other investment sources;                                                                                                   |
|   |   |                                                                                                                                                     |
|   | iv)    | making funds      available for re-investment by revolving investments as rapidly as      prudent;                                                       |
|   |   |                                                                                                                                                     |
|   | v)     | performing and      undertaking activities pertaining to leasing, giving on hire or      hire-purchase, bill marketing, factoring and related    fields. |
|   |   |                                                                                                                                                     |

| 20B4.  | To lend money,      with or without interest, (with or without security) for any maturity, in      any form whatsoever including by way of loans, advances, instalment      credit, trade finance, hire or otherwise to any person or persons (whether      individuals, firms, companies, bodies corporate, Government, State,      Sovereign, public body or authority, supreme, local or otherwise or other      entities), whether in the private or public sector, for any purpose      whatsoever, including agriculture, industry, infrastructure,      export-import, housing, consumer or others. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 20C4.  | To lend money,      with or without interest, (with or without security) for any maturity, in      any form whatsoever, to any person or persons (whether individuals, firms,      companies, bodies corporate, Government, State, Sovereign, public body or      authority, supreme, local or otherwise or other entities), whether in the      private or public sector, for:                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

|   | (i)    | Purchasing or      acquiring any freehold or leasehold lands, estate or interest in any land      or property,                                                                              |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                        |
|   | (ii)   | Taking demise      for any term or terms of years of any land or property  or                                                                                                               |
|   |   |                                                                                                                                                                                        |
|   | (iii)  | Constructions,      erection, purchase, extension, alteration, renovation, development or      repair any house or building or any form of real estate or any part or      portion thereof. |
|   |   |                                                                                                                                                                                        |

| 20D4.  | To      provide financial assistance to any person or persons (whether      individuals, firms, companies, bodies corporate, Government, State,      Sovereign, public body or authority, supreme, local or otherwise or other      entities), whether in the private or public sector for any purpose      whatsoever by means of leasing, giving on hire or hire-purchase, lending,      selling, reselling, or otherwise disposing of all forms of immoveable and      moveable properties and assets of any kind, nature or use, whatsoever and      for the purpose, purchasing or otherwise acquiring dominion over the same,      whether new or used.                                                                                                                                                                                          |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 20E4.  | To purchase,      acquire, sell, dispose of, deal or trade in bullion and specie and/or to      issue, subscribe to, acquire, purchase, sell, dispose of, deal or trade in      derivative financial instruments including futures, forwards options,      swaps, caps, collars, floors, swap options, bond options or other      derivative instruments whether traded on any market or exchange or      otherwise, for proprietary trading activities or for any person or persons      (whether individuals, firms, companies, bodies corporate, Government,      State, Sovereign, public body or authority, supreme, local or otherwise or      other entities), whether in the private or public  sector.                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 20F4.  | To promote,      organise, manage or undertake the activities of insurance intermediaries      including insurance or reinsurance brokers, consultants, surveyors, loss      assessors, loss control engineers, risk managers, actuarial analyst and to      promote, organise, manage or undertake, marketing, trading, distribution      or servicing of insurance and assurance products of all kinds, whether      life or general; financial, investment or other products including      (without limitation) securities, stocks, shares, debentures, bonds, units,      certificates or services offered by the Company and/or by any person,      firm, company, body corporate, mutual fund, Government, State, public body      or authority, supreme, municipal, local or otherwise, through the      Company’s branches, or offices. |

----

| 4 | Clauses      20A - 20I inserted under Clause 20 pursuant to the Special Resolution      passed by the Members by means of postal ballot, the result of which was      declared at the Eighth Annual General Meeting held on September 16, 2002      as also approved by Reserve Bank of India vide its      letter dated May 12,  2004. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 20G4.  | To promote,      organise or manage funds or investments on a discretionary or      non-discretionary basis on behalf of any person or persons (whether      individual, firms, companies, bodies corporate, public body or authority,      supreme, local or otherwise, trusts, pension funds, offshore funds,      charities, other associations or other entities), whether in the private      or public sector.                                                                                                                                                                                          |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 20H4.  | To      act as Trustee of any deeds, constituting or securing any debentures,      debenture stock, or other securities or obligations and to undertake and      execute any other trusts, and also to undertake the office of or exercise      the powers of executor, administrator, receiver, treasurer, custodian and      trust corporation.                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 20I4.  | To provide      financial services, advisory and counselling services and facilities of      every description capable of being provided by share and stock brokers,      share and stock jobbers, share dealers, investment fund managers and to      arrange and sponsor public and private issues or placement of shares and      loan capital and to negotiate and underwrite such  issues.                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| B.     | OBJECTS      INCIDENTAL OR ANCILLARY TO THE ATTAINMENT OF THE MAIN    OBJECTS:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 21.    | To establish,      maintain and operate electronic teller machines for carrying on any of the      banking businesses.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 22.    | To acquire and      undertake the whole or any part of the business, property and liabilities      of any person carrying on any business which the Company is authorised to      carry on or possession of property suitable for the purposes of the      objects of the Company.                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 23.    | To manage,      sell and realise any property which may come into the possession of the      Company in satisfaction or part satisfaction of any of its      claims.                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 24.    | To acquire and      hold and generally deal with any property or any right, title or interest      in any such property which may form the security or part of the security      for any loan or advance or which may be connected with any such      security.                                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 25.    | To establish      and support or aid in the establishment and support of associations,      institutions, funds, trusts, schools, hospitals, guest-houses, clubs and      conveniences which may be considered to benefit employees or ex-employees      of the Company or the dependents or connections of such persons or any      other persons, natural or judicial, granting pensions and allowances and      making payments towards insurance, subscribing to or guaranteeing moneys      for charitable or benevolent objects or for any exhibition or for any      public, general or useful object. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 26.    | To aid and      support any person, association, body or movement whose object is      solution, settlement or surmounting of industrial or labour problems or      the promotion of industry, trade or business of the Company or for the      promotion of science and technology, cultural activities, sports,      environment, rural development and other social and welfare      activities.                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 27.    | To acquire,      construct, maintain and alter any building or work necessary or convenient      for the purpose of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 28.    | To sell,      improve, manage, develop, exchange, lease, mortgage, dispose of or turn      into account or otherwise deal with all or any part of the property and      rights of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 29.    | To      acquire by purchase, lease or otherwise any premises for the construction      and/or establishment of a safe-deposit vault or vaults and to maintain      therein fire-proof and burglar-proof strong rooms, safes and other      receptacles for deeds, securities, documents, money, jewellery and      valuables of all kinds.                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 30.    | To procure the      registration, incorporation or recognition of the Company under the laws      or regulations of any other place outside India and to pay all costs,      charges and expenses incurred or sustained in or  about                                                                                                                                                                                                                                                                                                                                                                          |

----

| 4  | Clauses      20A - 20I inserted under Clause 20 pursuant to the Special Resolution      passed by the Members by means of postal ballot, the result of which was      declared at the Eighth Annual General Meeting held on September 16, 2002      as also approved by Reserve Bank of India vide its      letter dated May 12, 2004. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | the promotion,      incorporation and establishment of the Company or which the Company shall      consider to be preliminary, out of the funds of the    Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 31.    | To promote or      procure incorporation, formation or setting up of concerns and      undertakings whether as company, body corporate, partnership or any other      association of persons for engaging in any business and to pay out of the      funds of the Company all or any expenses which the Company may lawfully      pay for services rendered for formation and registration of any other      company by it, subject to the provisions of the Act.                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 32.    | To      develop and promote new financing instruments of all kinds whether for the      capital or money markets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 33.    | To acquire and      undertake the whole or any part of the business of any person or company,      when such business is of a nature enumerated or described      hereunder.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 34.    | To commence      and carry on activities with a view to encourage savings and investments      and participations in income, profits and gains accruing to the Company      from the acquisition, holding, management and disposal of      securities.                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 35.    | To place      deposits, keep money with security or otherwise either for or without      interest with any person, company, bank, financial and other institution,      trust, corporation, local authority, government, co-operative society, HUF      or other body (whether incorporated or not).                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 36.    | To acquire,      hold, manage, buy, sell, exchange, mortgage, charge, lease, license or      grant any right or interest in, over or upon any movable or immovable      property of any kind, including contingent and reversionary interest in      any property.                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 37.    | To      carry on activities of holding any charter or sponsoring any Act of      Legislation and/or to acquire any privilege, monopoly, licence, patent or      other right, power from any government or parliament or from any local or      any other authority in India or elsewhere and to exercise any powers,      rights, or privileges so obtained and in the matters and for the purposes      aforesaid to act solely or jointly with any other person, corporation or      body and to apply for registration and act as accredited investment      advisers to any mutual fund, unit trust with any regulatory authority in      India or elsewhere. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 38.    | To apply for      and become member of any trade association, commodity exchange,      clearing-house, society, company, management association or any other      association, professional body, stock exchange, depository trust company      whether it be in India or elsewhere and to communicate with various      chambers of commerce and other mercantile and public bodies in India or      elsewhere, concert and promote measures for the protection and/or      promotion of the Company’s trade, industry and persons engaged      therein.                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 39.    | To apply for,      purchase or otherwise acquire, protect and renew in India or elsewhere,      patents, licences, concessions, patent rights, trade marks, designs,      conferring any exclusive or non-exclusive or limited rights to their use      of any secret or other information regarding any invention, research which      may seem capable of being used for any purpose of the Company and to use,      develop or grant licence in respect thereof or otherwise turn to account      the rights or information so acquired and expend money in improving any      such patents, rights or inventions.                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 40.    | To      enter into agreements, contracts for, undertake or otherwise arrange for      receiving, mailing or forwarding any circular, notice, report, brochure,      material, article and thing belonging to any company, corporation, firm,      institution or person or persons by means of delivery by hand or      otherwise.                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 41.    | To purchase,      take on lease or licence or in exchange, hire or otherwise acquire any      immovable or movable property, rights or privileges which the Company may      think necessary or convenient for any business of the Company and to      develop and turn to account and deal with the same and, in particular, any      land, tenements, buildings and easements in such manner as may be thought      expedient and to construct, reconstruct, maintain and alter any immovable      or movable property or works necessary or convenient  for                                                                                                    |

----

|   | the purpose of      the Company and to pay for the same either in cash or in shares or      securities or otherwise and to sell, let, lease or under lease or      otherwise dispose of or grant right over any movable or immovable property      belonging to the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 42.    | To manage      land, buildings and other property both movable and immovable and to      collect rents and income and to supply to tenants, users and occupiers,      attendants, servants, waiting-rooms, reading rooms and other conveniences      and services as may be necessary.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 43.    | To      apply for, promote and obtain any order, directive, instruction,      regulation, ordinance and other authorisation or enactment of the Central      or any state government or any other authority for enabling the Company to      put any of its objects to effect or for effecting any modification or      change in any of the Company’s business or constitutions and to oppose any      bill, statute, rule, regulation, guideline, proceeding or application      which may seem to prejudice the Company’s business or      interests.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 44.    | To open,      maintain, operate and close account or accounts with any firm or company      or with any bank or banks or financial institutions or other financiers      and to pay or earn interest and to withdraw money from such account or      accounts.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 45.    | To train or      pay for the training in India or abroad of any of the Company’s employee      or any person in the interest of or in furtherance of the Company’s      objects.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 46.    | To enter into      any arrangement with any government or government departments or      authorities or any authority that may seem conducive to the attainment of      the Company’s objects and to obtain from any such government or government      departments or authorities any right, privilege, licence and concession      necessary or desirable to obtain and to carry out, exercise, use or comply      with any such arrangement, right or privilege or    concession.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 47.    | Subject to the      provisions of the Companies Act, 1956, to distribute any of the Company’s      property amongst the Members of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 48.    | To provide for      and furnish or secure to any Member or customer of the Company or to any      subscriber to or purchasee or possessor of any publication of the Company      or of any coupon or ticket, issued with any publication of the Company,      any convenience, advantage, benefit or special privilege, which may seem      expedient or necessary, either gratuitously or  otherwise.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 49.    | To      sell, improve, manage, develop, exchange, lease, give on licence,      mortgage, dispose of, or transfer business, property and undertakings of      the Company or any part thereof with or without any consideration which      the Company may deem fit to accept for attaining the main objects of the      Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 50.    | To      provide for the welfare of employees or ex-employees of the Company or its      predecessors in business and the spouse, widow or widower, father      (including stepfather), mother (including stepmother), brother (including      stepbrother), sister (including stepsister), son (including stepson),      daughter (including stepdaughter), son’s widow, daughter’s widower,      deceased son’s children, deceased daughter’s children or the dependents of      such employees or ex-employees by building or contributing to the building      of houses or dwellings or by grant of money, pensions, allowances, bonus      or other payments or by building or contributing to the building of houses      or dwelling or by creating and from time to time subscribing or      contributing to provident funds and other associations, institutions,      funds or trusts and by providing or subscribing or contributing towards      places of instruction and recreation, hospitals and dispensaries, medical      and other attendances and to subscribe to, contribute to or otherwise      assist charitable, benevolent, national and/or other institutions or      objects. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 51.    | To      establish, hold or conduct competitions in respect of contribution or      information suitable for insertion in any publications of the Company or      otherwise for any of the purposes of the Company and to offer and grant      prizes, rewards and premiums of such character and on such terms as may be      expedient.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

----

| 52.    | To refer to or      agree to refer any claim, demand, dispute or any other question by or      against the Company or in which the Company is interested or concerned and      whether between the Company and third parties, to arbitration and to      observe and perform and do all acts, matters and things necessary to carry      out or enforce the awards.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 53.    | To      enter into partnership or into any arrangement for joint ventures in      business for sharing profits, union of interest, lease, licence or      otherwise, reciprocal concession or co-operate with any person, firm or      company or to amalgamate with any person, firm or company carrying on or      proposing to carry on any business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 54.    | To      form, promote, subsidise, organise, assist, maintain and conduct or aid in      forming, promoting, subsidising, organising, assisting, maintaining      research laboratories, experimental workshops or conducting studies,      research, aiding tests and experiments on scientific, technical, economic,      commercial or any other subject and undertake all types of technical,      economic and financial investigations and aid or assist or enter into      partnership with any institution, university, company, partnership firm or      person or persons undertaking or conducting such research, study and      provide, subsidise, endow, assist in laboratories, workshops, libraries,      meetings, lectures and conferences and by providing for the remuneration      of professors or teachers on any subject and by providing for the awards,      exhibitions, scholarships, prizes and grants to students or otherwise and      generally to encourage, promote and reward studies, researches,      investigations, experiments, tests and inventions of any    kind. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 55.    | To establish      and maintain branches and agencies at any place or places in India or      other parts of the world for the conduct of the business of the Company or      for the purposes of enabling the Company to carry on its business more      efficiently and to exercise all or any of its corporate powers, rights and      privileges and to conduct its business in all or any of its branch in the      Union of India and in any or all states, territories, possessions,      colonies and dependencies and to discontinue and reconstitute any such      offices, branches or agencies.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 56.    | To enter into      any contract or arrangement for more efficient conduct of the business of      the Company or any part thereof and to subcontract any such contract or      arrangement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 57.    | To adopt such      means of making known and advertising the business and products of the      Company as may be expedient.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 58.    | To issue or      allot fully or partly-paid shares in the capital of the Company in payment      or part payment of any movable or immovable property purchased or      otherwise acquired by the Company or any services rendered to the      Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 59.    | To insure any      of the property, undertaking, contract, risk or obligation of the Company      in any manner whatsoever.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 60.    | To make      donations either in cash or in kind for such objects or causes as may be      directly or indirectly conducive to any of the Company’s objects or      otherwise expedient.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 60A5.  | To develop,      improve, design, software and programme products of any and all      descriptions in connection with or incidental or conducive to or in      furtherance of the attainment of any of the objects of the      Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 60B5.  | To appoint      trustees (whether individuals or corporations) to hold securities on      behalf of and to protect the interests of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 60C5.  | To promote,      sponsor, organise, manage or undertake events, exhibitions, conferences,      lectures, seminars, printing, publication or distribution of any books,      report, literature, newspapers, publicity or other materials in      connections with or incidental or conducive to or in furtherance of the      attainment of any of the objects of theCompany.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

----

| 5 | Clauses 60A -      60C inserted under Clause 60 pursuant to the Special Resolution passed by      the Members by means of postal ballot, the result of which was declared at      the Eighth Annual General Meeting held on September 16, 2002 as also      approved by Reserve Bank of India vide      its letter dated May 12,2004. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 616.   | To do all or      any of the above things and all such other things as are incidental or as      may be thought conducive to the attainment of the above objects or any of      them in India or any other part of the world either as principals, agents,      trustees, contractors or otherwise and either alone or in conjunction with      others and either by or through agents, contractors, trustees or otherwise      and to do all such things as are incidental or conducive to the attainment      of the above objects. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 627.   | To open,      establish, maintain and operate currency chests and small coin depots on      such terms and conditions as may be required by the Reserve Bank of India      established under the Reserve Bank of India Act, 1934 and enter into all      administrative or other arrangements for undertaking such functions with      the Reserve Bank of India.                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 63.    | To do all such      other things as are incidental or conducive to the promotion or      advancements of the business of the Company.                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   | And it is      hereby declared that :                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

|   | (i)    | the word      "company", save when used in reference to this Company in these presents,      shall be deemed to include any partnership or other body of persons,      whether or not incorporated and whether domiciled in India or      elsewhere;                                                                                                                                                                                                                           |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | (ii)   | the several      sub-clauses of this clause and all the powers thereof are to be cumulative      and in no case is the generality of any one sub-clause to be narrowed or      restricted by any particularity of any other sub-clause nor is any general      expression in any sub-clause to be narrowed or restricted by any      particularity of expression in the same sub-clause or by the application      of any rule of construction ejusdem generies or  otherwise; |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | (iii)  | the term      "India", when used in this clause unless repugnant to the context, shall      include all territories, from time to time, comprised in the Union of      India;                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | (iv)   | the Company      shall have full power to exercise all or any of the powers conferred by      these presents in India and/or any part of the  world.                                                                                                                                                                                                                                                                                                                           |

| IV.    | The      liability of the Members is limited.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| V8.    | The      authorised capital of the Company shall be Rs.1775,00,00,000 divided into      127,50,00,000 shares of Rs.10 each, 150,00,000 shares of Rs. 100 each and      350 shares of Rs.1 crore each with rights, privileges and conditions      attached thereto as are provided by the Articles of Association of the      Company for the time being with power to increase or reclassify or alter      the capital of the Company and to divide/consolidate the shares in the      capital for the time being into several classes and face values and to      attach thereto respectively such preferential, cumulative, convertible,      guarantee, qualified or other special rights, privileges, conditions or      restrictions, as may be determined by or in accordance with the Articles      of Association of the Company for the time being and to vary, modify or      abrogate any such right, privilege or condition or restriction in such      manner as may for the time being be permitted by the Articles of      Association of the Company and the legislative provisions for the time      being in force. |

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| 6 | The following      clause 61 has been replaced by the above, new clause 61 pursuant to the      Special Resolution passed by the Members by means of postal ballot, the      result of which was declared at the Eighth Annual General Meeting held on      September 16, 2002 as also approved by Reserve Bank of India vide its      letter dated May 12, 2004. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 61. | To do all or      any of the object set out herein as are incidental or as may be thought      conducive to the promotion or advancement of the business of the Company      or attainment of the objects of the Company or any of them in India or      elsewhere either as principal, agent, trustee, contractor, and either      along or in conjunction with others and either by or through agents,      contractors, trustees or otherwise and to carry on business which may seem      to the Company capable of being conveniently carried on or which is      calculated directly or indirectly to enhance the value of or render      profitable any of the Company’s property or  right. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7 | New Clause 62      inserted and the existing Clause 62 renumbered as 63 vide      Resolution passed by the Members at their Seventh Annual General      Meeting held on June 11,2001. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8 | At the time of incorporation,      the Authorised Capital of the Company was Rs. 300,00,00,000 divided into      30,00,00,000 equity shares of Rs.10 each. Pursuant to the Order dated      March 7, 2002 of the High Court of Gujarat at Ahmedabad in connection with      the amalgamation of ICICI Limited, ICICI Capital Services Limited and      ICICI Personal Financial Services Limited with ICICI Bank Limited, the      Authorised Capital was increased to Rs. 22,50,00,00,000, divided into      1,90,00,00,000 shares of Rs.10 each and 350 shares of Rs. 1 crore each.      Thereafter, pursuant to the Special Resolution passed at the Eighth Annual      General Meeting of the Company held on September 16, 2002 and the approval      of Reserve Bank of India vide letter dated January 16, 2003, the      Authorised Share Capital was      reduced to Rs. 1900,00,00,000 divided into 155,00,00,000 shares of Rs. 10      each and 350 shares of Rs. 1 crore each. Pursuant to the Ordinary      Resolution passed by the Members on June 8, 2007 by way of postal ballot,      the authorised share capital was altered to Rs.1775,00,00,000 divided into      127,50,00,000 shares of Rs.10 each, 150,00,000 shares of Rs.100 each and      350 shares of Rs.1 crore each. The Reserve Bank of India vide its letter dated June 5, 2007      accorded its approval to the    alteration. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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We,the several persons whose names and addresses are subscribed are desirous ofbeing formed into a Company in pursuance of this Memorandum of Association andwe respectively agree to take the number of shares in the capital of the Companyset opposite our respective names :

| Sr.No. | Name      of the Subscriberand      Signature | Address      & Occupationof      each Subscriber | No.      of Sharestaken      by eachSubscriber | Witness |
|--------|-----------------------------------------------|------------------------------------------------------|------------------------------------------------|---------|
| 1.     | Narayanan      Vaghul                         | 1301,      Radhika                                   | 100                                            |         |
|   | S/o. V.      Narayanan                        | Off Sayani      Road                                 | (One      Hundred)                             |
|   | Sd/-                                          | Prabhadevi                                           |                                           |
|   | Chairman                                      | Mumbai 400      025                                  |                                           |
|   | ICICI                                         | Banker                                               |                                           |
|   |                                          |                                                 |                                           |
| 2.     | Parampally      Vasudeva Maiya                | Flat No.      172-B                                  | 100                                            |
|   | S/o. P.      Ganapayya Maiya                  | Jolly Maker      Apartments I                        | (One      Hundred)                             |
|   | Sd/-                                          | Cuffe      Parade                                    |                                           |
|   | Executive      Director                       | Mumbai 400      005                                  |                                           |
|   | SCICI                                         | Bank      Executive                                  |                                           |
|   |                                          |                                                 |                                           |
| 3.     | Lalita Dileep      Gupte                      | 153-C, Mhaskar      Building                         | 100                                            |
|   | W/o. Dileep      Gupte                        | Opp. Ruia      Building                              | (One      Hundred)                             |
|   | Sd/-                                          | Sir      Balachander Road                            |                                           |
|   | Chief General      Manager                    | Matunga                                              |                                           |
|   | ICICI                                         | Mumbai 400      019                                  |                                           |
|   |                                          | Company      Executive                          |                                           |
| 4.     | Girish      Sumanlal Mehta                    | A-6, ICICI      Apartments                           | 100                                            |
|   | S/o. Sumanlal      Mehta                      | P. Balu      Marg                                    | (One      Hundred)                             |
|   | Sd/-                                          | Prabhadevi                                           |                                           |
|   | Company      Secretary                        | Mumbai 400      025                                  |                                           |
|   | ICICI                                         | Company      Executive                               |                                           |
|   |                                          |                                                 |                                           |
|   |                                          |                                                 |                                           |
| 5.     | Shashikant      Harilal Bhojani               | A-73, Ocean      Gold                                | 100                                            |
|   | S/o. Harilal      Bhojani                     | Twin Tower      Lane                                 | (One      Hundred)                             |
|   | Sd/-                                          | Prabhadevi                                           |                                           |
|   | Corporate      Legal Advisor                  | Mumbai 400      025                                  |                                           |
|   | ICICI                                         | Company      Executive                               |                                           |
|   |                                          |                                                 |                                           |
| 6.     | Sethumadhava      Rao Ragothaman              | C-22, ICICI      Apartments                          | 100                                            |
|   | S/o. K.      Sethumadhava Rao                 | P. Balu      Marg                                    | (One      Hundred)                             |
|   | Sd/-                                          | Prabhadevi                                           |                                           |
|   | Deputy General      Manager                   | Mumbai 400      025                                  |                                           |
|   | ICICI                                         | Company      Executive                               |                                           |
|   |                                          |                                                 |                                           |
| 7.     | Kalpana      Morparia                         | A-13, Ocean      Gold                                | 100                                            |
|   | W/o. Jaisingh      Morparia                   | Twin Tower      Lane                                 | (One      Hundred)                             |
|   | Sd/-                                          | Prabhadevi                                           |                                           |
|   | Assistant      General Manager                | Mumbai 400      025                                  |                                           |
|   | ICICI                                         | Company      Officer                                 |                                           |
|   |                                          |                                                 |                                           |
|   |                                          | Total number      of shares taken:                   | 700                                            |
|   |                                          |                                                 | (Seven      Hundred                            |
|   |                                          |                                                 | Equity      Shares)                            |

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