Axis Bank has received approval for amendments to its Global Depositary Receipts (GDR) agreement. The Reserve Bank of India (RBI) communicated its approval on January 30, 2026. The amendments pertain to granting voting rights to the holders of the GDRs, subject to certain conditions. These changes align with banking regulations and enhance the rights of GDR holders.
GDR Agreement Amendments Approved
Axis Bank announced that it has received approval for amendments to its deposit agreement governing Global Depositary Receipts (GDRs). The approval was granted by the Reserve Bank of India (RBI) via a letter dated January 30, 2026.
Details of the Amendments
The key amendment involves the granting of voting rights to the holders of the GDRs. However, these rights are subject to the holders demonstrating that their holdings comply with Section 128 of the Banking Regulation Act, 1949, and other applicable directions. The amended and restated deposit agreement will govern these rights, reflecting the recent changes and regulatory approvals. This move is expected to enhance investor confidence and align the GDRs with international best practices.
Source: BSE
