INDIAN RAILWAY FINANCE CORPORATION LIMITED

esidents/citizens of the USA, and/or, (iv) subject to any taxation laws of the USA;Bank certificate not provided along with demand draft for NRI Applicants;PIO Applications without the PIO Card; andIn case of Eligible NRIs applying on non repatriation basis if: (i) in case of application for allotment inphysical form, the account number mentioned in the application form where the sale proceeds/ maturityproceeds/ interest on Bonds is to be credited is a repatriable account; or (ii) in case of application forallotment in demat form, the status of the demat account mentioned is repatriable.For further instructions regarding Application for the Bonds, Applicants are requested to read the ApplicationForm.Allotment Advice/ Refund OrdersIn case of Applications other than those made through the ASBA process, the unutilised portion of theApplication Amounts will be refunded to the Applicant within 12 (twelve) Working Days of the Issue ClosureDate through any of the following modes:i. Direct Credit – Applicants having bank accounts with the Bankers to the Issue shall be eligible to receiverefunds through direct credit. Charges, if any, levied by the relevant bank(s) for the same would be borne byus.ii. NECS – Payment of refund would be done through NECS for Applicants having an account at any of the68 centres where such facility has been made available. This mode of payment of refunds would be subjectto availability of complete bank account details including the MICR code as available from theDepositories. The payment of refunds through this mode will be done for Applicants having a bank accountat any centre where NECS facility has been made available (subject to availability of all information forcrediting the refund through NECS).iii. NEFT – Payment of refund shall be undertaken through NEFT wherever the Applicant’s bank has beenassigned the Indian Financial System Code (“IFSC”), which can be linked to a MICR, allotted to thatparticular bank branch. IFSC Code will be obtained from the website of RBI as on a date immediately priorto the date of payment of refund, duly mapped with MICR numbers. In case of online payment or whereverthe Investors have registered their nine digit MICR number and their bank account number with thedepository participant while opening and operating the demat account, the MICR number and their bankaccount number will be duly mapped with the IFSC Code of that particular bank branch and the payment ofrefund will be made to the Investors through this method.iv. RTGS – If the refund amount exceeds ` 200,000, Applicants have the option to receive refund throughRTGS. Charges, if any, levied by the refund bank(s) for the same would be borne by us. Charges, if any,levied by the Applicant’s bank receiving the credit would be borne by the Applicant.v. For all other Applicants (not being ASBA Applicants), refund orders will be dispatched through speed post/registered post. Such refunds will be made by cheques, pay orders or demand drafts drawn in favour of thesole/ first Applicants and payable at par at places where Application are received. Bank charges, if any, forencashing such cheques, pay orders or demand drafts at other centres will be payable by the Applicants.In the case of Applicants other than ASBA Applicants, applying for the Bonds in dematerialised form, theRegistrar will obtain from the Depositories the Applicant’s bank account details, including the MICR code, onthe basis of the DP ID, Client ID and PAN provided by the Applicants in their Application Forms. Accordingly,Applicants are advised to immediately update their details as appearing on the records of their DepositoryParticipants. Failure to do so may result in delays in dispatch of refund orders or refunds through electronictransfer of funds, as applicable, and any such delay will be at the Applicant’s sole risk and neither our Company,the Registrar, the Escrow Collection Banks, or the Members of the Syndicate, will be liable to compensate theApplicants for any losses caused to them due to any such delay, or liable to pay any interest for such delay.In case of ASBA Applicants, the Registrar shall instruct the relevant SCSB to unblock the funds in the relevantASBA Account to the extent of the Application Amount specified in the Application Forms for withdrawn,rejected or unsuccessful or partially successful ASBA Applications within 12 (twelve) Working Days of theIssue Closing Date.80