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IndusInd Bank Ltd. Company History and Annual Growth Details


- The bank was incorporated on January and obtained Certificate of
Commencement of Business in February 1994. The bank was promoted by
IndusInd Enterprises and Finance Ltd. (IEFL) and five Mauritius based
companies viz. IndusInd International Holdings Ltd. (IIHL) IndusInd
(Mauritius) Holdings Ltd. (IMHL) IndusInd Ltd. (IL) IndusInd
Investments Ltd. (IIL) DeFive Mauritius Holdings Ltd. (DFMHL). The
bank commenced commercial operation in April. It undertook all kinds
of banking business.

- The bank proposed to set up an investment bank as a subidiary of the
bank for concentrating on various faces of investment banking viz.
issue management, corporate advisory service, infrastructure financing,
mergers and acquisitions, trading and depository services etc. It was
also proposed to introduce the concept of 'investment boutique' at
selected branches viz. Ahmedabad, Chennai, Mumbai etc.

- All operating outlets have direct access to Nostro Accounts through
sophisticated computerised system 'SWIFT'.


- 1200,00,000 No. of Equity shares issued.

- The Company joined hands with Kredietbank NV, (KB) - Brussels,
Belgium and a Memorandum of Understanding for strategic alliance has
been signed with them in order to enhance capability to global

- The Bank has made a preferential offer of 2 crores equity shares of
Rs. 10 each for cash at a premium of Rs. 40 per share aggregating Rs.
100 crores on private placement basis to the shareholders of the Bank,
(other than promoters), shareholders of the promoter companies, and the
employees of the Bank and of the promoter companies.


- The Bank has a state-of-the-art dealing room at Nariman Point,
Mumbai, catering to several additional positions of dealers and
corporate analysts aimed at further enhancing the profitability of its

- The bank caters to the needs of NRI customers from 40 countries with
deposits totalling Rs 905 crores.

- 9 branches were added to the network and the number of branches
doubled to 18.


- The company issued 400,00,000 No. of equity shares of Rs 10 each for
cash at a premium of Rs 35 per share to the public.

- The Company has successfully launched the 'anywhere banking' concept
and bank's customers can look at it as 'one Bank'.

- IndusInd Bank has launched Fast Forex to wipe out delays in sending
and receiving funds to and from foreign centres. Fast Forex is an
international remittance product utilising the 24-hour processing and
communication capabilities of SBC Warburg, the bank's USD clearing
agent, through their electronic banking system Keylink.

- The bank's shares were admitted for dematerialisation under a
tripartite agreement signed by the bank, its registrars, Spectrum
Corporate Services, and NSDL.


- IndusInd Bank Ltd has launched its Banking on the Net service on
March 24. This facility will serve as an alternate delivery channel
that IndusInd Bank offers its customers in addition of branch banking,
on-line ATM's and tele-banking. The customer can access Internet
access Internet banking facilities not only through the Net but also
through dial-up access on a common browser platform.

- IndusInd Bank, has launched its new product, Fast Forex, which can
remit funds to any part of the world at the fastest possible speed.

- Bank has introduced net bank a product offering on the internet and
the site can be visited on www.indusind.com by any customer who can
register for this service.


- The Bank has entered into an agreement with National Securities
Clearing Corporation Ltd. of National Stock Exchange (NSE) whereby the
Bank will act as official banker to NSE.

- The private sector bank has also introduced a number of
technologically superior products--like fast forex, anywhere banking,
Internet banking and depository services--through the electronic
delivery channels.


- IndusInd Bank signed a memorandum of understanding (MoU) with HSBC
for issuing global credit card under the MasterCard franchise to its

- IndusInd Bank Limited has launched its exclusive international
remittance system-FAST (Fully Automated Straight Through) Forex.

- IndusInd Bank has appointed Tata Consultancy Services for
implementation of the asset-liability management (ALM) plan of the

- The Bank has tied up with the cellular company, Orange, for short
messaging service facilities for mobile banking in Mumbai.

- The Bank has signed an agreement with Financial Software and Systems
for acquisition of the BASE24-ATM switch.

- The Bank has opened its 28th Branch in Surat, Gujarat.

- The Bank has launched its global credit card, to be issued in
association with the HongKong and Shanghai Banking Corporation Ltd.
under the Mastercard franchise.

- IndusInd Bank has launched an e-broking platform, eTrading, at its
Mumbai main branch to facilitate online trading of equity shares.

- Kothari Pioneer Mutual Fund and IndusInd Bank have joined hands to
enter into an alliance.


- The Bank has entered into a strategic alliance with Sri Lanka-based
National Mercantile Bank.


- IndusInd Bank Ltd has informed that the Board of Directors have
appointed Mr S Venkitramanan as Additional Director and Non-executive
Chairman subject to approval of Reserve Bank of India.


-IndusInd Bank gets RBI permission to set up offices abroad.

-Bank secures ISO 9001:2000 certification for all its branches in the 10th year of its

-IndusInd hires KPMG Consulting for assisting the bank to develop an enterprise wide
risk management framework to cover risks across all function streams.

-Shareholders approved delisting of shares from Pune Stock Exchange

-IndusInd, Corp Bank sign agreement for sharing of ATMs

-IndusInd Bank Board approves scheme of merger of Ashok Leyland Finance.


-IndusInd Bank Ltd has informed that the Bank has received approval for delisting of its shares from Pune Stock Exchange (PSE) with effect from January 16, 2004.

-IndusInd Bank on April 30 launched Indus AIM (anywhere instant money) for inter-bank real time gross settlement (RTGS) transactions.

-IndusInd Bank Ltd has accepted the resignation of Mr. Gopal Lohiya, Company Secretary of the Bank with effect from July 5, 2004

-Nagarajan selected as IndusInd Joint MD

-IndusInd Bank has offered personal loans for the salary account holders at Global Trust Bank (GTB)

-IndusInd Bank inks pact with DDA


-IndusInd Bank opens its 11th branch in Gujarat at Bhavnagar

-Morvi Royal Family launches Indusind International Mahila Card in Gujarat

-IndusInd Bank sets up new branch at Malappuram

-Indusind Bank opens Branch at Trichy

-Indusind Bank opens branch at Allahabad

-Indusind Bank introduces new services for retail customers


-Indusind Bank Ltd has announced that Doha Bank, Qatar and the Bank, India announced their strategic alliance in Doha

-IndusInd joins hand with 2 Gulf banks

- Indusind Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on October 31, 2006 has appointed Mr Ajay Hinduja and Mr Premchand Godha as Additional Directors of the Bank, subject to the approval of Reserve Bank of India.


-On January 16, 2007 Aviva Life Insurance and Indusind Bank Ltd has announced their tie-up as Bancassurance partners.

- Indusind Bank Ltd has appointed Mr. R Seshasayee has been appointed, with the approval of Reserve Bank of India, Part-time Non-Executive Chairman of the Bank for a period of two years.

-Indusind Bank Ltd has appointed Mr. R Seshasayee as the Non-Executive Chairman for a period of two years.

-Indusind Bank opens its 19th branch in Tamil Nadu at Sivakasi.

-Cholamandalam MS enters into a strategic partnership with IndusInd Bank


- Indusind Bank Ltd has tied up with TVS Motors

-IndusInd Bank signs Rs 150-cr deal with SKS Micro

-IndusInd Bank signs co-partner agreement with World Gold Council


-lndusind Bank launches 'new look branch model' at Bandra

-IndusInd Bank signs MoU with ICRA

-IndusInd Bank inaugurates its first Solar-powered ATM in Mumbai

-Indusind Bank Ties Up With Maruti Suzuki India Ltd
Oct 21, 12:00 am
Oct 21, 4:14 pm
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