IndusInd Bank appoints Mr. R S Sharma as Additional Director

Mumbai, May 23,2012:

IndusInd Bank has announced the appointment of R S Sharma as 'Additional Director' in the Board of the Bank.        

Mr. R S Sharma is the former Chairman and Managing Director of India's premier national oil company- Oil and Natural Gas Corporation Ltd (ONGC). He was also concurrently the Chairman of ONGC Videsh Ltd (OVL), Mangalore Refinery& Petrochemicals Ltd (MRPL) and five other ONGC Group companies.

Mr. R S Sharma, a Fellow Member of the Institute of Cost & Works Accountants of India and an Associate Member of the Indian Institute of Bankers, has participated in various management programmes in India and overseas. Prior to joining ONGC in the Middle Management level, he had functioned as Regional Head of Finance for overseas operations of another PSU. Mr. Sharma has also had over 10 years' banking experience, with specialized experience in Credit Appraisal.

Mr. Sharma was associated with various industry associations and federation houses in responsible capacities. He continues to hold the position of Chairman - FICCI Hydrocarbon Committee.

Mr. Sharma was also conferred with several prestigious awards and accolades, to mention a few - CNBC TV18 CFO Award in 2005, 2006 and 2007; Amity Corporate Leadership Award in 2009; CII Outstanding performance Award in 2010; ICONOCLAST CEO Award in 2010

Mr. R. Seshasayee, Chairman, IndusInd Bank said, "We are happy to have Mr. Sharma in our Board. I believe that Mr. Sharma's rich experience and background will add value to the Bank's current operations and business plans. "

About IndusInd Bank
IndusInd Bank, which commenced its operations in 1994, caters to the needs of both consumer and corporate customers. It has a robust technology platform supporting multi-channel delivery capabilities. IndusInd Bank has 400 branches, and 692 ATMs spread across 270 geographic locations of the country as on March 31, 2012. The Bank also has 2 Representative offices, one each in London and Dubai.

The Bank believes in driving its business through technology. It has multi-lateral tie-ups with other banks providing access to their ATMs for its customers. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. It also offers DP facilities for stock and commodity segments. The Bank has been bestowed with the mandate of being a Settlement Banker for six tea auction centres.

AWARDS FY 2011-12:

• 'Star Brand 2011' ICMR Star Brands of India Survey
• 'Best Bank in New Generation Category' by the STATE FORUM OF BANKERS CLUB, KERALA
• Winner of India Best Mid-Sized Bank Award by Business World - PwC Best Banks Survey and Business Today- KPMG, Best Banks Survey.
• Panasonic Green Globe foundation Award 2012 in the "Business Enterprise Services" (UNEP/TERI/KPMG)
• NASSCOM IT User Award 2012 for "Environmental Sustainability" (Frost& Sullivan)
• The CII Environmental Best Practice Award 2012 for the "Most Innovative Project"
• Most Improved Bank Performance of the Year" at Financial Leadership Awards 2012 (Bloomberg UTV)
• M.IT.R- 50 Marketing & IT Recognition Program amongst top 50 brands- (Paul Writer & IBM )

RATINGS:
'ICRA AA' for Lower Tier II subordinate debt program and 'ICRA AA-' for Upper Tier II bond program by ICRA. 'CRISIL A1+' for certificate of deposit program by CRISIL. 'CARE
AA' for Lower Tier II subordinate debt program by CARE. 'Fitch AA-' for Long Term Debt Instruments and 'Fitch A1+' for Short Term Debt Instruments by Fitch Ratings.

Visit us at www.indusind.com

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