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Company type | Public |
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Industry | Financial services |
Founded | April 1994 |
Founder | S. P. Hinduja |
Headquarters | Mumbai, Maharashtra, India |
Key people | |
Products | |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Owner | Hinduja Group (26%) Life Insurance Corporation (9.99%) |
Number of employees | 33,582 (2022)[3] |
Subsidiaries | BFIL[4] |
Capital ratio | 15.31% [3] |
Website | www |
IndusInd Bank Limited is an Indian financial services headquartered in Mumbai (Maharashtra).[5] IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.[6]
The bank began its operations on 17 April 1994, under the chairmanship of S. P. Hinduja.[7]
In 2021, the bank become authorized by the Reserve Bank of India (RBI) for collecting direct and indirect taxes, on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).[8]
The bank started its operations with ₹100 crores (1 billion) in capital, of which ₹60 crores were raised by Indian residents and ₹40 crores were raised by Non-Resident Indians (NRI). The bank specializes in retail banking services. According to the bank, its name is derived from the Indus Valley civilisation.[9]
Sumant Kathpalia is the Managing Director and CEO at IndusInd Bank.[10][11] Sunil Mehta is the current chairman of the board.[12] The other members on the board are Shanker Annaswamy, T. T. Ram Mohan, Akila Krishnakumar, Rajiv Agarwal, Sanjay Asher, Bhavna Doshi, Jayant Deshmukh and Pradeep Udhas.[13]