IndusInd Bank Ltd
NSE: INDUSINDBK BSE: 532187
₹886.85
(1.61%)
Fri, 09 Oct 2026, 09:39 pm
Market Cap (in Cr)68564.37
PE Ratio52.43
Dividend0.17
Finance
Major Banks
24.5KCompany History
1994
- Incorporated in January; obtained Certificate of Commencement of Business in February.
- Promoted by IndusInd Enterprises and Finance Ltd. and five Mauritius-based companies.
- Commenced commercial operations in April.
- Proposed investment bank subsidiary for issue management, advisory, financing, M&A, trading, depository.
- Proposed investment boutique at selected branches.
- Operating outlets accessed Nostro Accounts via SWIFT system.
1995
- Issued 120,000,000 equity shares.
- Signed MoU for strategic alliance with Kredietbank NV, Brussels.
- Made preferential offer of 2 crore equity shares on private placement basis.
1996
- Opened state-of-the-art dealing room at Nariman Point, Mumbai.
- Catered to NRI customers from 40 countries with Rs 905 crores deposits.
- Added 9 branches, doubling network to 18.
1997
- Issued 40,000,000 equity shares at premium to public.
- Launched anywhere banking concept.
- Launched Fast Forex international remittance product.
- Shares admitted for dematerialisation with NSDL.
1998
- Launched Banking on the Net service.
- Launched Fast Forex product.
- Introduced net banking on www.indusind.com.
1999
- Entered agreement with National Securities Clearing Corporation Ltd. as official banker to NSE.
- Introduced products like Fast Forex, anywhere banking, Internet banking, and depository services.
2000
- Signed MoU with HSBC for global credit card under MasterCard franchise.
- Launched FAST Forex international remittance system.
- Appointed Tata Consultancy Services for asset-liability management plan.
- Tied up with Orange for mobile banking SMS in Mumbai.
- Signed agreement with Financial Software and Systems for BASE24-ATM switch.
- Opened 28th branch in Surat, Gujarat.
- Launched global credit card with HSBC under Mastercard.
- Launched eTrading e-broking platform at Mumbai main branch.
- Entered alliance with Kothari Pioneer Mutual Fund.
2001
- Entered strategic alliance with National Mercantile Bank, Sri Lanka.
2002
- Appointed S Venkitramanan as Additional Director and Non-executive Chairman.
2003
- Received RBI permission to set up offices abroad.
- Secured ISO 9001:2000 certification for all branches.
- Hired KPMG Consulting for enterprise-wide risk management framework.
- Shareholders approved delisting from Pune Stock Exchange.
- Signed ATM sharing agreement with Corp Bank.
- Board approved merger scheme with Ashok Leyland Finance.
2004
- Received approval for delisting shares from Pune Stock Exchange.
- Launched Indus AIM for inter-bank RTGS transactions.
- Accepted resignation of Company Secretary Gopal Lohiya.
- Selected Nagarajan as Joint MD.
- Offered personal loans to Global Trust Bank salary account holders.
- Inked pact with DDA.
2005
- Opened 11th branch in Gujarat at Bhavnagar.
- Morvi Royal Family launched Indusind International Mahila Card in Gujarat.
- Set up new branch at Malappuram.
- Opened branch at Trichy.
- Opened branch at Allahabad.
- Introduced new services for retail customers.
2006
- Announced strategic alliance with Doha Bank, Qatar.
- Joined hands with 2 Gulf banks.
- Appointed Ajay Hinduja and Premchand Godha as Additional Directors.
2007
- Announced tie-up with Aviva Life Insurance as Bancassurance partners.
- Appointed R Seshasayee as Part-time Non-Executive Chairman for two years.
- Opened 19th branch in Tamil Nadu at Sivakasi.
- Entered strategic partnership with Cholamandalam MS.
2008
- Tied up with TVS Motors.
- Signed Rs 150-cr deal with SKS Micro.
- Signed co-partner agreement with World Gold Council.
2009
- Launched new look branch model at Bandra.
- Signed MoU with ICRA.
- Inaugurated first Solar-powered ATM in Mumbai.
- Tied up with Maruti Suzuki India Ltd.
2010
- Tied up with Tata Motors for dealer financing.
- Tied up with Toyota Kirloskar Motor.
- Tied up with Ashok Leyland for Channel Financing.
- Tied up with Unistream Bank for Remittances.
2011
- Partnered with Mahindra Automotive Sector for vehicle finance.
- Bagged IBA award for Best use of technology in E-learning - 2010.
- Awarded Most Improved Bank Performance of the Year.
- Entered agreement with Deutsche Bank to acquire its credit card business in India.
- Partnered with Finacle from Infosys for core banking transformation.
- Signed MoU with HDFC Ltd for home loans.
2012
- Opened first Currency Chest in Mumbai.
- Partnered with Suzuki Motorcycle for retail customer finance.
- Introduced new foreign currency pre-paid travel card.
2013
- Launched Indus Forex Card.
- Partnered with Suzuki Two-Wheelers for Retail Finance.
- Opened branch in Alwar.
- Enhanced core banking system to Finacle 10.2 version.
- Won Banking Frontier Finnoviti Award for My Account My Number.
- Won Best Bank Award for Customer Management and Business Intelligence Initiatives among Small Banks by IDRBT.
2014
- Announced strategic partnership with American Express for IndusInd Bank Iconia American Express Card.
- Opened new branches in Vadodara.
- Opened new branch in Lucknow.
- Inaugurated India’s first Digital Branch at Rapid Metro station, Gurgaon.
- Announced strategic partnership with Jet Airways for Jet Airways IndusInd Bank Credit Cards.
- Launched VIDEO BRANCH.
- CISO received one of Top 100 Chief Information Security Officer awards.
- Project IndusInd Bank Partnership Program won FIPS Award for Financial Inclusion and Payment Systems.
- Awarded Best Mid-size Bank and Fastest Growing Mid-size Bank at Business World - PwC Best Bank Survey.
2015
- Inked agreement with Worldpay for domestic acquiring services.
- Inaugurated new branch at Dwarakanagar in Vizag.
- Entered agreement to acquire Royal Bank of Scotland's Diamond & Jewellery financing business and deposit portfolio.
- Inaugurated new branch in Chandigarh.
- Launched Chelsea FC Co-Brand Credit Card.
- Opened new branch in Indore.
- Opened new branch in Ujjain.
- Inaugurated new branches in Chennai, Chandigarh, and Jamshedpur.
- Launched Onthego social banking.
- Completed acquisition of Royal Bank of Scotland’s Diamond & Jewellery Financing business.
- Launched QuickPay service for instant money transfers via SMS, email, and social media.
2016
- Partnered with PayU India for Digital Banking and Payments.
- Bagged 3 awards from IBA.
- Signed MoU with Indian Army.
- Launched IndusInd For Sports non-banking sports vertical.
- Inaugurated new branch at Ranchi, Jharkhand.
- Opened new branch in Kolkata.
- Opened IFSC Banking Unit at GIFT City.
- Signed 3-year strategic agreement with IBM.
- Inaugurated new branch in Pathankot.
- Partnered with Paytm for two-wheeler financing.
2017
- Strengthened footprint in Sikar, Rajasthan.
- Launched IndusForex.com.
- Won Celent Model Bank 2017 Global Award.
- Inaugurated 3rd branch in Jamshedpur.
- Inaugurated new branch in Jaipur.
- Partnered with IGL for cashless payment solutions.
2018
- Partnered with Paytm Payments Bank for fixed deposit creation facility.
- Launched program to support girl athletes.
- Entered loan guarantee agreement with Overseas Private Investment Corporation.
- Won Best Mid-Sized Bank award at BW Business World Magna Awards 2017.
2019
- Launched co-branded credit card with PAYBACK.
- Partnered with Government of Maharashtra and NPCI for Mumbai Fintech Accelerator Programme.
2020
- Introduced PIONEER Banking Wealth Management platform.
- Completed integration with CRMNEXT across customer touch points.
- Launched Pioneer Heritage in partnership with MasterCard.
2021
- Partnered with Vistara to launch co-branded credit card.
- Launched Indus Merchant Solutions app.
- Became first Indian bank to offer cross-border remittances via UPI.
- Launched Green Fixed Deposits to finance UN Sustainable Development Goals projects.
- Received 2020 APAC Innovation Award from RED HAT.
2022
- Partnered with Department of Panchayati Raj, Government of Uttarakhand, for banking services in over 600 Nyaya Panchayats.
- Bagged Governance Now Award for SME Connect category.
- Announced strategic partnership with Asian Development Bank for Supply Chain Finance solutions.
- Partnered with M2P to offer digital-first products.
2023
- Launched eSvarna, India's first Corporate Credit Card on RuPay network.
- Launched industry-first community banking program for Diamond Cohorts with Indus Solitaire Program.
- Announced strategic collaboration with Viamericas for Indus Fast Remit platform.
- Launched Virtual Commercial Credit Card.
2024
- Launched EazyDiner IndusInd Bank Platinum Credit Card with EazyDiner.
- Launched Samman RuPay Credit Card for Government Employees.
- Inked MoU with UP Government to foster Livestock Welfare.
- Launched India's first All in 1 Payment Wearables.
- Collaborated with UNICEF to strengthen Climate Risk Management and Community Resilience.
