IndusInd Bank derives its name and inspiration from the Indus Valley civilisation - a culture described by National Geographic as 'one of the greatest of the ancient world' combining a spirit of innovation with sound business and trade practices.

Mr. Srichand P. Hinduja, a leading Non-Resident Indian businessman and head of the Hinduja Group, conceived the vision of IndusInd Bank - the first of the new-generation private banks in India - and through collective contributions from the NRI community towards India's economic and social development, brought our Bank into being.

The Bank, formally inaugurated in April 1994 by Dr. Manmohan Singh, Honourable Prime Minister of India who was then the country’s Finance Minister, started with a capital base of Rs.1,000 million (USD 32 million at the prevailing exchange rate), of which Rs.600 million was raised through private placement from Indian Residents while the balance Rs.400 million (USD 13 million) was contributed by Non-Resident Indians.


A NEW ERA

About IndusInd Bank

IndusInd Bank Ltd. is one of the new-generation private-sector banks in India which commenced its operations in 1994. The Bank enjoys a patronage of 2 million customers and has a network of 180 branches, 402 ATMs spread across 147 geographical locations in 28 states and union territories as on September 30, 2009.  The Bank also has a Representative Office each in Dubai and London. The Bank's total business (deposits plus advances) as on September 30, 2009 crossed Rs. 40,000 crores.

It has multi-lateral tie-ups with other banks providing access to more than 21000 ATMs for its customers.  It enjoys ‘clearing and settlement  bank’ status with leading capital, commodity and currency exchanges within India eg - BSE / NSE  and commodity exchanges like- MCX, NCDEX, and NMCE.

While continuing its drive for efficiency and profitability, IndusInd Bank is a keen participant in the Corporate Social Responsibility space. It is actively engaged in helping mentally-challenged and underprivileged children and on other hand, helps in sensitizing /upholding environmental and ecologically appropriate behaviour. The Bank actively supports “Green  Practices” within the Bank and under its campaign “Hum aur Hariyali”, it has successfully launched a slew of green initiatives. It is also an active supporter of the arts especially in the field of music and dance.

CRISIL has assigned Highest P1+ rating to IndusInd Bank’s Fixed Deposits and Certificates of Deposit. Recently, CRISIL has reaffirmed its P1+ rating of IndusInd Bank’s Fixed Deposits and Certificates of Deposit programme. ICRA has also assigned the highest A1+ rating to IndusInd Bank’s  Certificates of Deposit.