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 raised 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 Indus Valley Civilisation.
As on December 31, 2018, IndusInd Bank has 1,558 branches, and 2453 ATMs spread across in different geographical locations of the country. It also has representative offices in London, Dubai and Abu Dhabi. 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 2019.