The Federal Bank Limited received an Order from the Office of GST Officer, Ward-206, Department of Trade and Taxes, GNCTD, New Delhi levying a penalty of INR 2,00,000/-. The Bank will be filing an appeal against the said Order. Nature and details of the action(s) taken, initiated or order(s) passed: Order in Original under Section 73 of Central Goods and Services Tax Act, 2017 (CGST Act, 2017).

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: April 22, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: Penalty under Section 73(1) of CGST Act, 2017. Impact on financial, operation or other activities of the Bank, quantifiable in monetary terms to the extent possible: INR 2,00,000.