Commencing its operations in the year 1994, IndusInd Bank derives its name and inspiration from the Indus Valley Civilization - a culture described as one of the greatest in the ancient world combining a spirit of innovation with sound business and trade practices. IndusInd Bank has grown ceaselessly and dynamically as an organization driven by a sincere zeal to give its customers banking services and products at par with the highest quality standards in the industry. The Bank was formally inaugurated in April 1994 by Dr. Manmohan Singh, the then Finance Minister of India. It started with a capital base of INR 1,000 million, which was contributed by Indian residents as well as NRIs.
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 Civilization.
As on June 30, 2016, IndusInd Bank has 1,004 branches, and 1885 ATMs spread across 625 geographical locations of the country. It also has a 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 2017. Mr. Romesh Sobti has joined the bank as Managing Director and CEO, taking charge from Mr. Bhaskar Ghose. Mr. R. Seshasayee, a Chartered Accountant by profession is the current Chairman. The other members on the board are Dr. T. T. Ram Mohan, Mr. Ajay Hinduja, Mr. S. C. Tripathi, Mr. Ashok Kini, Mrs. Kanchan Chitale, Mr. Vijay Vaid, Mr. R. S. Sharma and Mr. Y. M. Kale.