IndusInd Bank unveils its first Currency Chest in KolkataEstimated reading time: 2 minutes, 39 seconds

IndusInd Bank unveils its first Currency Chest in Kolkata

Posted on Wednesday, July 8th, 2015 | By IndusInd Bank

Fourth in India

Kolkata, July 8, 2015:IndusInd Bank has unveiled its state-of-the art Currency Chest in Kolkata. Mr Rudra Narayan Kar, Regional Director, RBI inaugurated the Currency Chest in the presence of Mr. Ramesh Ganesan, Head Transaction Banking, IndusInd Bank along with other senior officials of the Bank.

Speaking on the occasion, Mr. Ramesh Ganesan, Head Transaction Banking, IndusInd Bank said “The Currency Chest in Kolkata is equipped with state -of-the-art cash processing facilities to cater to the needs of IndusInd branches and ATMs in eastern part of the country. This would enable the bank branches to handle larger volumes of cash. This is in line with the bank’s customer centric philosophy to service its customer needs more efficiently.”

This initiative will help the bank to execute functions like acceptance of cash from branches, ATM replenishments, arrangement of fresh note remittances and remitting soiled notes to Reserve Bank of India, Kolkata. Bank has ambitious plans to increase current network of 129 branches & 217 ATMs in East Zone, post opening of Kolkata Currency Chest. The chest in Kolkata will enable customers to exchange their notes into those of higher or lower denominations or to obtain fresh notes by replacing soiled ones which may be unfit for re-use. With this facility, IndusInd Bank will be able to work on fine cash balances and manage funds according to requirement.

The Bank’s first Currency Chest was opened in Thane in June 2012, the second in New Delhi in February 2013 and the third in Chennai in June 2014. With the new currency chest in Kolkata, IndusInd Bank has four currency chests across the country. IndusInd Bank has drawn up an ambitious plan for setting up a sizeable number of Currency Chests across India in line with the bank’s business growth.

About IndusInd Bank

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel distribution network. As on March 31, 2015, IndusInd Bank has 801 branches and 1,487 ATMs spread across the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. It enjoys clearing bank status for both major stock exchanges -BSE and NSE -and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings a study published by the WPP and conducted by Millward Brown.

Ratings:

  • ICRA AA+ for Lower Tier II subordinate debt program by ICRA
  • ICRA AA for Upper Tier II subordinate debt program by ICRA
  • CRISIL A1+ for certificate of deposit program by CRISIL
  • CARE AA+ for Lower Tier II subordinate debt program by CARE
  • IND A1+ for Short Term Debt Instruments by India Ratings and Research
  • IND AA+ for Lower Tier II subordinate debt program by India Ratings and Research
  • IND AA for Upper Tier II subordinate debt program by India Ratings and Research
  • IND AA+ for Senior unsecured bonds program by India Ratings and Research

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For more details on this release, please contact:

Mohit Ganju
IndusInd Bank Ltd.
Mohit.ganju@indusind.com
0124-4749500
Namita Sharma
Adfactors PR Pvt. Ltd.
Namita.sharma@adfactorspr.com
9820950663