IndusInd Bank is a universal bank with its headquarters in Pune, Maharashtra, India. It was founded by S.P Hinduja in the year 2004. The name IndusInd was inspired by the Indus Valley Civilization. It is also referred to as the New Generation Bank. It offers a wide range of products and services for individuals and corporates. These include microfinance, personal loans, personal and & commercial vehicles loans, credit cards and SME loans.
IndusInd Bank is listed on the National Stock Exchange of India and the Bombay Stock Exchange.
IndusInd Bank has 1558 branches and 2453 ATMs spanning across India. Mumbai has the maximum number of branches followed by New Delhi and Chennai. The bank has its representative offices abroad as well.
The bank management has sustainability at the core of its operations. The subsidiary of the bank is BFIL: Bharat Financial Inclusion Limited.
IndusInd Bank merged with Bharat Financial Inclusion Limited in July 2019. It had decided to acquire BFIL previously known as SKS Microfinance in 2018. The merger received a green light from the National Company Law Tribunal on June 10, 2019.
Bharat Financial Inclusion's shareholders will receive 639 shares of IndusInd Bank for every 1000 shares of Bharat Financial Inclusion. Bharat Financial Inclusion is among the largest microfinance companies in India with presence across 16 states covering 1 lakh villages. The major motive behind the merger was to create a sustainable platform for financial inclusion.
It earlier merged with Ashok Leyland Finance Limited in the year 2003-2004. The Reserve Bank of India granted it the approval to do so and the merger lead to a dilution of the stakes of the promoters.
The services provided by IndusInd bank are as follows:
Corporate Banking & Finance
Commercial & Transaction Banking
Cash Management Services (CMS)
Trade Service Utility (TSU)
Wealth Management Service
In the year 2018-19, the IndusInd bank also introduced a range of new market products, like the Indus Duo Card- a debit cum credit card, the Indus Bank Nexxt Credit Card- an interactive Credit Card with buttons, banking on Amazon Echo.
Golden Peacock Awards 2014: For Special Recommendations-Sustainability awarded by Institute of Directors, India
Asian Sustainability Leadership Awards. for Best Rural Outreach – Certificate of Merit awarded by World CSR Congress
Asia Corporate Excellence & Sustainability Awards
Amity CSR Award & Corporate Meet.
Best Commercial Bank of the Year (India) and the Best Innovation in Retail Banking at the International Banker Awards, 2018.
The Bank was awarded Best in Class Client & Supplier Collaboration at ELSC 2018 for Supply Chain Finance business
Best Bank – Supply Chain Finance at 4th SCM Pro Logistics and Supply Chain Awards on 8th December 2018.
The IndusInd Bank won the Best Mid-Sized Bank award at BW Business World Magna Awards 2017
The Bank was ranked 12th in the BrandZ Top 50 Most Valuable Indian Brands 2016, by Millward Brown and WPP.
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