INDIAN RAILWAY FINANCE CORPORATION LIMITED

OTHER INSTRUCTIONSJoint ApplicationsApplications may be made in single or joint names (not exceeding three). In the case of joint Applications, allpayments will be made out in favour of the first Applicant. All communications will be addressed to the firstnamed Applicant whose name appears in the Application Form and at the address mentioned therein.Additional/ Multiple ApplicationsAn Applicant is allowed to make one or more Applications for the Bonds for the same or different Series ofBonds, subject to a minimum Application size of ` 5,000 and in multiples of ` 1,000 thereafter, for eachApplication. Any Application for an amount below the aforesaid minimum Application size will be deemed asan invalid Application and shall be rejected. However, multiple Applications by the same Applicant belongingto Category IV aggregating to a value exceeding ` 10,00,000 shall be grouped in Category III, for the purpose ofdetermining the basis of allotment to such Applicant. However, any Application made by any person in hisindividual capacity and an Application made by such person in his capacity as a Karta of an HUF and/or as jointApplicant (second or third applicant), shall not be deemed to be a multiple Application.Depository ArrangementsWe have made depository arrangements with NSDL and CDSL for issue and holding of the Bonds indematerialised form. In this context:(i) the tripartite agreement dated May 8, 2003 was entered amongst our Company, the Registrar and CDSL andthe tripartite agreement dated January 23, 2002 was entered amongst our Company, the Registrar andNSDL, for offering depository option to the Applicants.(ii) It may be noted that Bonds in electronic form can be traded only on stock exchanges having electronicconnectivity with NSDL or CDSL. The Stock Exchanges has connectivity with NSDL and CDSL.(iii) Interest or other benefits with respect to the Bonds held in dematerialised form would be paid to thoseBondholders whose names appear on the list of beneficial owners given by the Depositories to us as onRecord Date. In case of those Bonds for which the beneficial owner is not identified by the Depository ason the Record Date/ book closure date, we would keep in abeyance the payment of interest or otherbenefits, till such time that the beneficial owner is identified by the Depository and conveyed to us,whereupon the interest or benefits will be paid to the beneficiaries, as identified, within a period of 30 days.(iv) The trading of the Bonds shall be in dematerialized form only.For further information relating to Applications for Allotment of the Bonds in dematerialised form, see thesections titled “Issue Procedure – Methods of Application” and “Issue Procedure – General Instructions” onpages 61 and 72, respectively.CommunicationsAll future communications in connection with Applications made in the Issue should be addressed to theRegistrar quoting all relevant details as regards the Applicant and its Application.Applicants can contact our Compliance Officer as well as the contact persons of our Company/ Lead Managersor the Registrar in case of any Pre-Issue related problems. In case of Post-Issue related problems such as nonreceiptof Allotment Advice/ credit of Bonds in depository’s beneficiary account/ refund orders, etc., applicantsmay contact our Compliance Officer as well as the contact persons of our Company/Lead Managers orRegistrar. Please note that Applicants who have applied for the Bonds through Trading Members should contactthe Stock Exchanges in case of any Post-Issue related problems, such as non-receipt of Allotment Advice/ creditof Bonds in depository’s beneficiary account/ refund orders, etc.Rejection of Applications78