One bank, many solutions for you! Indusind Bank India is considered a new generation private bank based at Mumbai- the financial capital of India.
The bank derived its name from the Indus Valley civilization which is a culture described to be “one of the greatest of the ancient world.”
It was formally inaugurated in April 1994 wherein it started with a capital base of Rs.1, 000 million (USD 32 million at the prevailing exchange rate), of which Rs.600 million
was raised through private placement from Indian Residents while the balance Rs.400 million (USD 13 million) was contributed by Non-Resident Indians.
Since its incorporation, the bank succeeded in reaching a good status in the banking economy. At around 1996-1997, the bank became famous due to the perfection of Internet Banking.
Profit and some other details:
Years went by and the financial earnings of the bank raised and stabilized enabling it to be recognized by 2 Million costumers and to have a network of 209 branches and 427 ATMs all over the country.
All the outlets of IndusInd Bank, including its branches and ATMs, are connected via leased lines or satellite to the core banking system making generation of reports accurate. Amazingly, the bank also has Representative Offices overseas specifically in Dubai and London.
The Bank has also been awarded the highest P1+ rating for its Fixed Deposits and Certificates of Deposit by CRISIL. On October 2010, Indusind bank’s net profit jumped 71 per cent to Rs.133.15 crores in the second quarter of the financial year on the back of higher interest earnings.
Indusind Bank offers products and services to its costumers including transactional, commercial and electronic banking products and services.
The bank offers services on personal banking, accounts, deposits, loans, cards, wealth management services, investment banking, treasury, capital and commodities market, NRI services and the infamous online banking.
Accounts can be generated through the internet by filling up their application form online. Along with the online application is the featured Ready to Use Savings Account Kit.
The Indusind Bank’s venture towards providing a quality service to the costumers is escalating especially through the booming trend in technology. A datacenter through modern information technology is being used by the company to provide information.
It is said to generate lesser cost of management and support and helps costumers on online streaming. Critiques often describe the bank to have superb services and that it is breaking into the top league soon.
It also has great advertising capabilities, which attracts costumers, to feature their company. The famous slogans of the bank are We Care Dil Se and We Make You Feel Rich.