IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in 1994. The bank offers commercial, transactional and electronic banking products and services. IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. Indusind Bank is the first among the new-generation private banks in India.
The bank started its operations with a capital amount of Rs. 1 billion among which Rs. 600 million was donated by the Indian Residents and Rs. 400 million was raised by the Non-Resident Indians. The bank has specialized in retail banking services and continuously upgrades its support systems by introducing newer technologies. It is also working on expanding its network of branches all across the country along with meeting the global benchmark. According to the bank, its name is derived from the rich and vivid Indus Valley Civilisation.
IndusInd Bank has 638 branches, and 1238 ATMs spread across 392 geographic locations of the country as on 30 September 2013. It also has a representative office in London and another in Dubai. Mumbai has the maximum number of bank branches followed by New Delhi and Chennai. The bank has also proposed to double the branches count to 1200 by March 2017.
Board of directors
Mr. Romesh Sobti has joined the bank as Managing Director & CEO, taking charge from Mr. Bhaskar Ghose. Mr. R. Seshasayee, a Chartered Accountant by profession is the current Chairman. The other members on the board are Dr. T. T. Ram Mohan, Mr. Ajay Hinduja, Mr. S. C. Tripathi, Mr. Ashok Kini, Mrs. Kanchan Chitale, Mr. Vijay Vaid, Mr. R. S. Sharma and Mr. Y. M. Kale.
Awards
2013-2014
- Banking Frontier - Finnoviti Awards 2013 for My Account My Number
- Financial Inclusion Payment Systems Award 2013 organized by Elets Technomedia
- Best Initiative of the Year - TACK India fat the Global World Congress held at Athens for Indus Pro
- Best Private Sector Bank - Priority Sector Lending for Environmental Sustainability
- Fastest Growing Mid-Size Bank by Businessworld-PwC Best Banks Survey 2013
- Ranked 6th Most Trusted Private Bank in India - Brand Trust Report 2014, India study
- Banker of the Year awarded to Mr. Romesh Sobti at Businessworld-PwC Best Bank Survey 2013
- Roll of Honour - India's Best CEOs by Business Today-KPMG India Listing of India's top 100 CEOs
- IT Excellence Award by VMware, for Virtualisation of Critical business applications
- CISO - Awarded one of the Top 100 Chief Information Security Officer awards 2014
- Best Bankers Awards 2013 - Best Banker - Growth, Mid-Sized by The Sunday Standard
- Best Bank Award Customer Management and Business Intelligence Initiatives among Small Banks 2012-13 by IDRBT.
- Best Use of CSR Practices in Banking & Finance at ABP News Global CSR Excellence & Leadership Awards 2013
- Mixed Media Category for My Account My Number, awarded by Paul Writers, at the Marketing Hall of Fame 2014
- 5th Retail Banker International Asia Trailblazer Summit Excellence in Customer Centricity & Dynamic Third Party Partnerships, for Super Saver Packs
- Best use of Technology in Training and E-Learning (1st Runners-up) at IBA Banking Technology Awards 2012-13
Infosec Maestros Award by Infosecurity, for information security initiatives at the Bank
2012-2013
- Awarded "The best bank award among small banks for 'IT for Operational Effectiveness' by Institute for Development and Research in Banking Technology (IDRBT).
- Awarded " Top Green IT Enterprise Award 2012 - CIO Magazine"
- CISO - Awarded one of the Top 100 Chief Information Security Officer awards 2012, organized by InfoSecurity Magazine and iViz Security
- NASSCOM IT User Award 2012 for "Environmental Sustainability" (Frost & Sullivan)
2011-2012
- Awarded as the "Best Bank Mid-sized" in Businessworld - PwC Best Banks Survey 2011
- Awarded as the "Best Mid-Sized Bank Bank" in Business Today - KPMG Best Banks Survey 2011
- Awarded M.IT.R- 50 Marketing & IT Recognition Program amongst top 50 brands - Organised by Paul Writer in association with IBM
- The CII Environmental Best Practice Award 2012 for the "Most Innovative Project"
- Awarded in the "Business Enterprise Services" category for running ATMs on solar power - Organised by Panasonic Green Globe Foundation
- Awarded the status of 'Star Brand 2011 ICMR Star Brands of India Survey
- Awarded the "Best Bank in New Generation Category" by the STATE FORUM OF BANKERS CLUB KERALA
- Awarded "Most Improved Bank Performance of the Year" at Financial Leadership Awards 2012 (Bloomberg UTV)
References
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