1. Macroeconomic and Banking Environment
The financial year 2024-25 was shaped by a defining global election cycle, with nearly half the worlds population heading to the polls, including in India. Amid a wave of change that saw several incumbents voted out, India stood out for its political continuity. The re-election of the NDA government for a third consecutive term in India underscored policy and macroeconomic stability. A pivotal moment in the global economic landscape came with the election of President Trump in the US in November. This was followed by proposals for the highest proposed import tariffs in a century, with some of the steepest aimed at Asia, particularly China. The IMF opines the economic order which has shaped the world economy for the last 80 years through globalization, trade liberalization, and closely integrated supply and value chains, is now facing a fundamental reset. These heightened trade tensions between the US and China are a negative shock to global growth, and a significant increase in the trade policy uncertainty can adversely impact economic activity and outlook, as per the latest IMF World Economic Outlook. Global growth was otherwise stable in 2024, after a period of prolonged and unprecedented shocks.
In India, the latest official estimates show that the economic activity demonstrated resilience, gathering momentum in the second half of the year, after a slowdown in the first half, helped by a recovery in private consumption. Investment activity moderated when compared to the highs of recent years, as general government capex slowed down due to underutilization of the allocated budget. Buoyant services exports helped net external demand contribute positively to growth. Overall, GDP growth eased to 6.5%, following a period of robust expansion in the last 3 years, during which real GDP growth averaged 8.8%. On the supply side, while the farm sector posted strong growth and services remained resilient, the manufacturing sector activity decelerated.
Recognizing the need to stabilize growth amid evolving global challenges, a coordinated fiscal and monetary policy response is being undertaken. Monetary policy easing was initiated over the second half of the year to support growth as confidence in keeping inflation aligned with the 4% target grew. Headline CPI inflation eased to an average of 4.6% from 5.4% in the year before, with inflation falling below the 4% target during the second half. That, in turn, opened up space for monetary easing after a period of five years. The Monetary Policy Committee (MPC) initiated easing gradually, closely monitoring the evolving macroeconomic and banking sector conditions. Signalling a clear shift towards supporting growth, the policy stance was changed to "Neutral" from "Withdrawal of accommodation" in October and further to "Accommodative" in April. The MPC reduced the Repo rate by 25 bps in February and then by another 25 bps in April to 6%, while signalling a bias toward further easing. To facilitate transmission of lower policy rates to the wider economy, the RBI actively countered liquidity tightness over the second half of the year, caused due to dollar sales by the central bank to support the exchange rate of the Rupee and by leakage through an increase in currency in circulation. Starting with a CRR cut of 50 bps in December, the RBI infused Rs 8 trillion in durable liquidity through open market bond purchases, USD/INR buy-sell swap auctions, and term repo auctions by end-March 2025. These interventions helped restore the banking systems liquidity to a net surplus. Market rates eased on the back of the lower Repo rate and liquidity infusion. Sovereign bond yields fell across tenors, on the easing of monetary levers. Over the year, the 10-year yield fell by 47 bps, the 5-year by 60 bps, and the 1-year by 65 bps. Many major central banks, especially the US Federal Reserve, also eased monetary conditions, as inflation eased across major economies from multi-decade highs.
In the banking sector, credit growth moderated during the year. Non-food credit increased at a slower pace of 12% y-o-y as of end- March 2025 compared to 16.3% a year ago. Within this, growth in credit to industry remained healthy at 7.3% y-o-y, largely supported by credit to MSMEs. Growth in credit to the services sector and personal loan segments decelerated to 13% and 14% respectively. They, however, remained prime drivers of non- food credit growth, particularly over the second half of the year.
Housing loans, the largest segment of personal loans, maintained a robust growth trajectory, albeit with some moderation. Despite this slowdown, the non-food credit growth continued to grow at a healthy pace and above the 10-year average of 10.5%. Asset quality improved across major sectors. Lending rates peaked in the first half of the year and eased subsequently. Deposit rates, on the other hand, rose in the wake of tighter liquidity conditions and sustained credit demand. On the wider financial system, the IMFs latest Financial System Stability Assessment Program noted that Indias financial system has withstood the pandemic shock well and has become more resilient since its last such assessment in 2017, driven by robust economic growth. Banks and NBFCs are resilient to severe macro-financial solvency and liquidity shocks, and have sufficient aggregate capital to support lending requirements. Additionally, Indias financial ecosystem has become more diversified and interconnected, with a significant increase in market-based financing.
On the external front, Indias fundamentals strengthened, anchoring external stability in an uncertain global environment. The nations external sector buffers expanded during the year, despite net capital outflows and a balance of payments deficit. External financing requirement, measured by the current account deficit, fell to a highly sustainable 0.6% of GDP for the year, helped by buoyant services exports and growing NRI remittances. Foreign exchange reserves rose by $21.9 billion over the year, despite persistent outflows from FPIs. Indian Rupee depreciated by 2.5% against the US dollar over the year. Foreign exchange reserves at $665 billion, as of End-March 2025, were sufficient for about 11 months of imports and to cover 91% of Indias external debt outstanding as of end- March 2025.
The global economic landscape turned more challenging towards the last quarter of the year, as escalating trade and tariff tensions and the consequent financial market volatility raised concerns around the weakening of global growth. Echoing those concerns, the IMF has reduced its global growth forecast for 2025 and 2026 by a cumulative 0.8% relative to its earlier estimates. Growth in the US and China, the worlds two largest economies, has been revised down significantly for 2025. Risks to the global growth outlook are seen on the downside. However, India is well-positioned to navigate these external headwinds, aided by domestic economic orientation and proactive trade negotiations with US and other countries. Looking ahead, real GDP growth is expected to be in the range of 6-6.5% over the current fiscal, aligning with the nations long-term potential growth rate. Indias share of world output will continue to increase steadily. While this rate falls short of aspirations, it firmly positions India as the highest among major economies. Counter-cyclical policy space, flexible exchange rate, and adequate foreign exchange buffers, provide a suite of tools to counter global shocks. The underlying macroeconomic and financial stability will enable India to manage heightened global uncertainty, financial market volatility, and protracted geopolitical tensions.
2. Business Overview
2.1 Operating Performance
The salient features of the Banks Operating Performance during FY2025 are summarized in the table below:
(Rs in crore)
| Particulars | FY2025 | FY2024 | Y-o-Y Growth |
| Interest Earned | 48,667.67 | 45,748.21 | 6.38% |
| Interest Expended | 29,636.35 | 25,132.30 | 17.92% |
| Net Interest Income | 19,031.32 | 20,615.91 | -7.69% |
| Non-Interest Income | 7,684.19 | 9,387.85 | -18.15% |
| Revenue | 26,715.51 | 30,003.76 | -10.96% |
| Payment to Employees | 4,301.05 | 3,895.28 | 10.42% |
| Other Expenses | 11,284.49 | 9,943.53 | 13.49% |
| Operating Expenses | 15,585.54 | 13,838.81 | 12.62% |
| Operating profit before Depreciation, Provisions, and Contingencies | 11,129.97 | 16,164.95 | -31.15% |
| Depreciation | 485.11 | 424.68 | 14.23% |
| Operating Profit | 10,644.86 | 15,740.27 | -32.37% |
| Provision and Contingencies | 7,030.14 | 3,798.74 | 85.07% |
| Profit Before Tax | 3,614.72 | 11,941.53 | -69.73% |
| Provision for Tax | 971.82 | 2,991.75 | -67.52% |
| Net Profit | 2,642.90 | 8,949.78 | -70.47% |
| Consolidated Performance | |||
| Operating Profit | 10,661.40 | 15,864.06 | -32.80% |
| Net Profit | 2,575.54 | 8,977.30 | -71.31% |
Key Balance Sheet Parameters:
(Rs in crore)
| Particulars | FY2025 | FY2024 | Y-o-Y Growth |
| Deposits | 4,11,078.14 | 3,84,792.92 | 6.83% |
| Advances | 3,45,018.63 | 3,43,298.27 | 0.50% |
| Balance Sheet Size | 5,54,018.43 | 5,14,935.15 | 7.59% |
2.2 Business Performance Highlights
FY2025 presented a challenging operating environment for the Bank, marked by slower industry growth, asset quality stress in unsecured retail segments, and heightened scrutiny following the derivative-related disclosure in March 2025. Amidst these challenges, the Bank responded with steadfast resilience and robust commitment to its strategic agenda, bolstering core fundamentals, and reinforcing strong corporate governance. The Bank took calibrated steps and progressed on deposit retailization, moderate growth in high-risk unsecured segments, built liquidity buffers, and deepened internal reviews and controls. These actions were underpinned by a long-term orientation to safeguard financial health, stakeholder confidence, and enhance growth capacity.
Calibrated Loan Growth
The Bank adopted a conservative lending approach in light of the evolving asset risk landscape, particularly in unsecured segments. The overall unsecured retail loan book was down by 10% y-o-y, while the microfinance/micro loan book was down by 21% y-o-y. during the year. The Bank also chose to exit some corporate loans towards the end of the year for strengthening its liquidity position and proactive balance sheet management. Consequently, the corporate loan book came down by 6% y-o-y. The Vehicle Finance business maintained steady loan growth of 8% y-o-y with disbursements of Rs47,600 crore. Other retail loans maintained healthy momentum with a 18% y-o-y growth, mainly driven by secured products like home loans, LAP, and BBG. Overall loan growth for the year was 1%. While muted, this reflected prudent credit selection and risk management in a volatile environment.
Asset Quality Stable, Except Microfinance- Specific Stress
GNPA and NNPA were at 3.13% and 0.95% respectively, versus 1.92% and 0.57% y-o-y. The provision coverage ratio remained stable at 70%. The increase in NPAs were largely contributed by unsecured retail segments, including microfinance, amidst the industry-level challenges. The asset quality in terms of slippages and credit cost has remained stable/range-bound for other key segments of vehicle finance, corporate, and secured retail.
Digital Banking: INDIE and Beyond
The Bank extended its flagship digital banking app INDIE to all the existing retail banking customers, which now has 1.6 million active users and is top-rated among banking apps with ratings of 4.6 (Play Store) and 4.7 (App Store). The Bank has also launched INDIE for Business - a one-of-a-kind industry-first solution to bring better business banking to all MSME clients in the country. The Bank continued to scale other digital platforms like Indus Easy Credit and Indus Merchant Solutions, strengthening digital origination and servicing capabilities. During the year, the Bank upgraded its core banking infrastructure, revamped its treasury applications, and scaled the UPI infrastructure to achieve superior levels of operating efficiency.
Addressing Control Gaps and Reinforcing Governance
During the second half of the financial year, the Bank witnessed unfortunate developments which revealed gaps in accounting rigour, controls, and disclosure. The Bank acted decisively and conducted detailed internal reviews, engaged external experts, and initiated necessary actions to address the identified control weaknesses or any risk areas. The Bank also ensured that all financial impacts of identified issues are fully accounted for in FY2025. The Banks committed approach towards financials has been to commence FY2026 on a clean slate unburdened by any past issues.
Financial Outcomes
Despite a tough year, the Bank closed FY2025 with a Profit After Tax of Rs 2,576 crore. The Banks balance sheet remains healthy after absorbing all the changes with the Capital Adequacy Ratio of 16.24%, Provision Coverage Ratio of 70% and average LCR of 118% with excess liquidity of Rs39,600 crore. The Bank absorbed all FY2025 shocks within the year itself, leaving no overhang and setting the stage for a stronger FY2026.
Overall, FY2025 served as a powerful reset, reaffirming the Banks focus on core strength, disciplined execution, and governance. With a clean slate and sharpened focus, the Bank is ideally positioned to rebuild momentum, enhance stakeholder trust, and deliver long- term value.
3. Consumer Banking
3.1 Consumer Liabilities
The Consumer Banking division was supported by strategic initiatives focused on deposit mobilization and customer-centric innovation. Our robust growth drivers for this financial year were new customer acquisitions and deeper engagement with existing relationships, significantly aided by a host of strategic process improvements along with KPI changes designed to propel effective cross-selling of the Banks product suite. Leveraging digital capabilities and analytics, the Bank executed an omnichannel strategy that enhanced retail deposit mobilization and improved customer engagement across physical and digital platforms. The Consumer Bank registered strong performance until December 2024, but we experienced an unforeseen event in March 2025, which affected our overall growth. However, the Bank and its employees remained resilient and were able to launch a rapid and coordinated response, effectively reassuring clients while supporting the Banks brand image.
During the year, the Bank launched several segment-specific offerings aimed at enhancing its value proposition. The Indus Grande Care and Indus Care programs, tailored for senior citizens, offer convenience, personalized solutions, and modern banking experiences. We also launched Indus Privilege Prime to strengthen the Banks foothold in the digital account space. During FY2025, the Bank further solidified its presence within the merchant and retail banking ecosystem through strategic investments in payment solutions and enhancements to its Current Account offerings for retailers. These initiatives drove a significant increase in the value of new CASA acquisitions, underscoring the Banks unwavering commitment to developing a sustainable, diversified, and customer-centric liabilities franchise.
3.2 SME and Merchant Acquiring
The Banks Consumer Current Account portfolio sustained its growth trajectory, underscoring our deep engagement with the Business Owner segment. With nearly the entire branch network aligned to serve micro, small, and medium enterprises, our strategic focus remains firmly rooted in delivering tailored banking experiences that scale with our clients ambitions.
Our flagship offering, Indus One Business - a unique auto-tier optimization product - has emerged as a cornerstone of this transformative journey with 60% product penetration by the year- end for New to Bank clients, embodying the Banks philosophy of growing alongside its customers. Complemented with a comprehensive suite of merchant and trade forex solutions, the proposition caters seamlessly to businesses of all scales, providing them with a streamlined single-window solution for their evolving financial needs.
Investments in digital onboarding and workflow integration have further enhanced the client journey, fortified regulatory compliance, and minimized the risk exposure. This digital-first approach ensures unparalleled agility and robustness, critical in the current dynamic business landscape.
The year FY2025 also witnessed strong traction in merchant acquiring, with POS penetration across digital collection witnessing a notable rise along with profitability. The expansion of value-added services — NFC soundbox with card acceptance has enriched the merchant experience while simultaneously lowering the acceptance cost. This has positioned the Bank as a holistic partner for physical and digital commerce, including e-commerce payment gateway solutions.
Looking ahead, INDIE for Business is poised to become the unified digital platform for entrepreneurs and business owners, offering a host of features from integrated merchant servicing and bulk payments to secure transaction workflows with maker-checker controls.
Through sustained technology enhancement, sharper execution, and a focus on building high-quality portfolios, the Bank remains committed to empowering the Business Owner segment with progressive, efficient, and secure banking solutions.
3.3 Retail Payments
The Bank continued to witness growth in retail deposits during FY2025, consistent with the trend observed in the previous year. This growth was significantly bolstered by the sustained increase in digital transaction volumes, particularly through the Unified Payments Interface (UPI). As of March 2025, UPI transactions by volume recorded strong y-o-y growth of 29%, while transaction value grew by 19%, reflecting deeper customer engagement and the rising adoption of digital payments across the Banks ecosystem.
3.4 Client Wealth Management
The Wealth Management division was instrumental in the Banks financial performance in FY2025. Throughout the year, we remained committed to delivering tailored solutions to meet our clients evolving insurance and investment needs while ensuring prudent risk management practices.
The Bancassurance Services division experienced consistent, robust growth, primarily driven by increased demand for comprehensive coverage across various sectors. The open architecture distribution model providing a comprehensive choice to avail insurance solutions from four life insurers, three General, and one standalone health insurer has helped to meet our customers protection requirements. Additionally, our focus on customer-centricity during pre- and post-sales, including insurance claims servicing through our insurance providers, contributed to high customer satisfaction and retention levels.
The Banks investment services division demonstrated consistent growth, fuelled by heightened demand for comprehensive, multi- category coverage. We adhere to a rigorous investment selection process, and these products and solutions are offered through 33 asset management company partners. Our product line has been strategically expanded to include private equity and private debt offerings. Additionally, we have launched and implemented a new, more intuitive, and seamless user interface system for investment services.
3.5 RACC - Retail Assets and Cards
The RACC franchise, which encompasses retail agriculture, loans against property, credit cards, personal loans, business loans, loans against card receivable, gold loans, loans against securities, health care finance, prime home loans, and overdraft against fixed deposits, saw disbursements grow by 20.7% y-o-y. Card spending also increased by 13.9% y-o-y, resulting in a 20.1% y-o-y growth in the overall book.
3.5.1 Retail Agriculture Business
To expand its reach in the vital sector of the Indian economy, the Bank has sanctioned an impressive amount of over Rs 4,040 crore to support more than 25,000 farming households across 131 districts in Madhya Pradesh, Gujarat, Haryana, Punjab, Kerala, Rajasthan, Maharashtra, and Chhattisgarh. These crucial funds are intended to aid agricultural and agri-allied activities in these regions.
In line with its commitment to enhancing digital literacy, the Bank continues to empower its customers by promoting and educating them about the benefits of cashless transactions through RuPay debit cards and net/mobile banking.
The Bank has extended loans to small and marginal farmers, women beneficiaries, and other economically disadvantaged sections of society, reaffirming its dedication to serving these segments. By actively engaging with stakeholders in the agri value chain, the Bank remains acutely informed about the latest developments in the agricultural sector, enabling it to provide the best-suited products to its customers.
To ensure the financial security of its customers, the Bank offers a unique insurance facility that safeguards their loan liabilities in the event of death or disability. Additionally, through the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance scheme, the Bank provides crop insurance to protect farmers against losses. The Bank also facilitates the implementation of government subsidy schemes such as KCC Modified Interest Subvention Scheme (MISS) and Pashu KCC (P-KCC) for individual farmers.
3.5.2 Loan Against Property
IndusInd Banks Loan Against Property (LAP) business sustained its robust growth momentum in FY2025, focusing on portfolio growth and maintaining asset quality. LAP advances increased by 15% y-o-y to Rs 12,387 crore. The Banks branch channel notably contributed to 42% of overall disbursements, effectively optimizing the cost of acquiring loans. An increase in advances and fee income has ensured profitable growth for the business. New product variants introduced in FY2025 further propelled sourcing and revenue. The business continued to leverage its credit scorecards and collections efficiency to enhance asset quality and risk cost.
3.5.3 Prime Home Loans
indusind Banks Prime Home Loans business was launched in September 2022 to offer loans to individuals for the purchase and construction of residential housing units. The business gathered momentum in FY2025, leading to an advanced growth of 151% y-o-y to Rs 4,491 crore. The Home Loans business is currently being sourced from 22 locations across 13 states. The business will continue to focus on advanced growth and asset quality.
3.5.4 Personal Loans
Personal Loan Business growth trajectory continued in FY2025 as PL advances increased by 28% y-o-y and crossed the Rs10,000 crore mark, accompanied by 23% y-o-y growth in Fee income. The focus stood on salaried open market customers, digital business, and cross-selling personal loans to existing savings account customers, contributing to 94% of disbursal volume. The product has a live portfolio size of Rs 10,209 crore (4.59 lakh accounts), with 1.67 lakh accounts being onboarded in FY2025 itself. The business will continue its growth with a primary emphasis on robust asset quality and sustained profitability.
3.5.5 Credit Cards
indusind Banks Credit Card business demonstrated remarkable growth in FY2025, with a 12% y-o-y increase in spends, reflecting the Banks strategic focus on premium offerings and digital enablement. The total number of Cards in Force (CiF) crossed 3 million, supported by seamless digital onboarding and innovative product launches. This growth aligns with the overall industry trajectory, showcasing indusind Banks ability to outperform market trends in spending volumes while maintaining a strong portfolio with healthy metrics.
The Bank introduced two notable credit cards during the year. The PIONEER Private Credit Card, tailored for Ultra High Net Worth individuals (UHNis), offers bespoke privileges, exclusive concierge services, and global access benefits, catering to the discerning needs of elite customers. Additionally, the Poonawalla indusind Bank eLiTE edge Credit Card was launched to provide premium rewards and lifestyle benefits, further strengthening the Banks foothold in the mass Affluent Customer segment.
As the Indian credit card market continues to grow, driven by rising disposable incomes and digital adoption, indusind Bank is poised to capitalize on these dynamic trends. The Banks commitment to innovation and customer-centric offerings positions it well for sustained growth in the credit card segment. in FY2026, indusind Bank aims to further enhance its product suite with strategic new launches that expertly cater to evolving consumer preferences, particularly within the premium and digital segments.
3.5.6 Business Banking Group
The Bank continues to place the highest strategic priority on the MSME segment, in line with the Governments ongoing efforts to accelerate MSME growth and drive inclusive economic development. With sustained policy support and expanding digital infrastructure, MSME credit demand remained robust during FY2025. With favourable policy tailwinds and improving formalization of the MSME ecosystem, the Bank anticipates sustained strength in this segment over the upcoming years.
The Business Banking book maintained a healthy growth trajectory, registering another year of growth in FY2025, driven by a focused approach and deepened customer engagement. The portfolio quality remained stable, with improved resilience across sectors. FY2025 also saw stabilization of MSME Branch Operating Model 2.0, with specialized hub-and-spoke branches contributing almost 50% of new customer acquisitions, highlighting their pivotal role in expanding reach and onboarding quality MSME relationships. The Bank now operates 126 dedicated MSME Hubs across india, acting as specialized centers to drive focused lending and servicing along with 316 spoke centers.
At indusind Bank, the customer is at the core of every decision. We continue to broaden our offerings to cater to their evolving needs. These include the indusWE program for Women Entrepreneurs, CGTMSE-backed loans, financing for Micro and Small Enterprises, Rooftop Solar Financing solutions, and Loan Protect insurance, each designed to promote access and empower MSME growth. To further enhance accessibility, we launched a weekly spot sanction drive, Vyapar Vaar - ab Budhvar hoga Vyapar Vaar, enabling MSME customers to walk into any of our MSME Hub branches on any Wednesday and avail expedited loan sanctions. This initiative has been designed to deliver smooth and efficient financing solutions, bringing speed and convenience to the forefront of MSME lending.
Technology continues to be a strong enabler in scaling Business Banking. The Banks focus on digital transformation, across client onboarding, underwriting, and servicing, has resulted in over 70-80% of our new customer acquisitions being digitally enabled, ensuring faster sanction turnaround and elevated customer experience.
The Bank remains committed to delivering best-in-class service, backed by continuous investments in product innovation, digital capabilities, and process excellence to meet the evolving needs of Indias MSMEs.
4. Affluent Banking
Under our flagship brand, PIONEER, the Affluent Banking business offers a distinctive, Personalized Banking and Wealth Management platform for HNI and UHNI clients across India and key global markets. Over the last three years, the business has grown consistently, clocking a CAGR of 19% in NRV, 22% in Liabilities, and 17% in Fee Income, culminating in an NRV exceeding Rs 1.2 lakh crore as of March 2025. The launch of Private Banking in the first half of FY2025 marked a key milestone, positioning Affluent Banking firmly among the top wealth management franchises in the country.
This strong momentum is underpinned by a sharp, three-pronged growth strategy:
Client-first approach — At IndusInd Bank, we prioritize client- centricity, delivering seamless, end-to-end value across banking and wealth services. By harnessing the integrated power of One Bank, we provide universal and personalized solutions tailored to clients goals and risk profiles, ensuring a seamless and comprehensive financial experience.
Deep distribution backed by expertise — A nationwide network of relationship managers, service managers, and domain specialists across branches, dedicated PIONEER lobbies and banking outlets. Our frontline teams are relationship-driven, built to partner with clients at every step of their financial journey.
Future-ready tech stack — At IndusInd Bank, technology is a strategic enabler, driving speed, precision, and proactivity. Affluent business leverages advanced analytics, AI, and ML to deeply understand our clients behaviour, anticipate evolving needs, and empower our relationship managers to proactively engage with them through actionable insights, real-time alerts, and relevant recommendations. We use these technologies to deliver a seamless, secure, differentiated experience and consistently superior service. As a pioneer in adopting modern technologies, we continue to redefine what personalized banking means for our affluent clientele.
With the rollout of PIONEER Private, the Bank has now accelerated its focus on the top end of the value chain. Designed to engage and retain the most valuable clients, PIONEER Private is set to significantly elevate both NRV and profitability. With this launch, IndusInd Bank now spans the entire financial services spectrum, from microfinance to private banking, cementing its position as a frontrunner in Indias financial services industry.
4.1 NRI Banking
NRI Banking, a cornerstone of the Banks affluent strategy, continues to deliver robust growth and deepen global client engagement.
The NRI segment demonstrated continuous growth with a 28% growth in FY2025 on NRI Liabilities. The Banks market share on NRI liabilities has grown 2.6x since March 2019, and the Bank is a vital player in the NRI banking landscape.
In an endeavour to further strengthen its position, the Bank is working on expanding its product suite and partnerships across the globe. The online multi-partner remittance platform, Indus
Fast Remit, which is currently live for USD and SGD, will soon be expanded to add more partners and currencies. IndusInd Bank remains committed to the NRI community and soon will be offering a gamut of FCY products in addition to savings and term deposits from its IFSC GIFT City branch - International Banking Unit (IBU).
4.2 International Financial Services Centre Banking Unit (IBU) at GIFT City
The Banks offshore branch, IBU at GIFT City, ended the year with a balance sheet size of $3.3 billion as of March 31, 2025. The unit saw substantial growth in offshore business, offering a variety of services including accepting deposits mainly from Affluent Banking, G&J, and CCBG verticals, trade credits, short-term and long-term loans (through syndication and risk participation) to overseas entities, swaps, derivatives, and other treasury products.
The IBU plays a critical role in serving both existing and new clients, contributing to the overall Banks balance sheet and profitability. With its comprehensive range of products in global currencies, the IBU plays a pivotal role in catering to the diverse needs of the IBU GIFT-based entities and the Indian diaspora offshore. The Unit has extended the Banks brand globally, as it offers end-to-end solutions to large corporates with international presence, engaging in the global syndicated loan and financial markets. Through these endeavours, the IBU has enhanced the Banks global reach and established itself as a trusted global financial partner.
Furthermore, IBUs Global Markets desk undertakes derivative trades at IFSC GIFT City by leveraging and strengthening its presence to trade in non-deliverable derivatives. The desk generates steady revenue through trading and offering treasury risk solutions to global counterparties. Furthermore, the IBU maintains a leading position with around 13.58% market share in customer liabilities amongst the IBUs at IFSC GIFT City, highlighting prominence in managing significant customer liability books.
The Bank continues to be at the forefront in its association with IFSCA in formulating guidelines on financial market derivatives as a member of the Advisory Committee on Exchange Traded Currency Derivatives and on sustainable finance as a member of the Expert Committee on Climate Finance.
5. Consumer Finance Division
The Consumer Finance Division (CFD) anchors the Banks core strength in vehicle financing. With strong market presence across segments, deep customer engagement, and a resilient business model, CFD continues to lead with expertise and execution.
The Consumer Finance Division (CFD) continues to drive asset- backed lending across a broad spectrum, from heavy, light, and small commercial vehicles (used for goods and passenger transit) to auto loans, two-wheelers, tractors, and construction equipment like excavators, loaders, tippers, and cranes. Financing is extended for both new and pre-owned assets across all segments. The division also plays a critical role in advancing financial inclusion by offering Low Cost / Affordable Housing Loans, supporting the Government of Indias flagship Housing for All initiative.
CFD managed a portfolio of 3 million loans with an outstanding book of Rs97,898 crore in FY2025 as against Rs90,383 crore in FY2024, marking an 8% increase over the previous year. In terms of advances growth, Auto Loan recorded the highest growth with 15% growth over previous year with advances of Rs29,666 crore in FY2025 as against Rs25,658 crore in FY2024 followed by Light Commercial vehicles, which recorded a 13% growth over the previous year at Rs12,412 crore from Rs10,923 crore.
CFD disbursed a total of 9.89 lakh loans in FY2025, aggregating to Rs47,614 crore as against Rs50,370 crore in the previous year. Auto loan disbursements were stable at Rs 11,142 crore in FY2025 for New and Rs 3,363 crore for Used Auto loans, respectively. Commercial vehicle segment encompassing Medium and Heavy Commercial vehicles, Light Commercial Vehicles, and Small Commercial Vehicles recorded a disbursement of Rs19,485 crore in FY2025 as against Rs20,726 crore in the previous year, and the Construction Equipment was stable at Rs 6,879 crore in FY2025. Tractor funding registered a decline in disbursement to Rs 2,682 crore as underwriting norms were made more stringent. Two-wheeler disbursement was stable at Rs 4,061 crore in FY2025.
The operations of CFD are well supported by a back office and the document storage and retrieval facility at the Banks Karapakkam Unit in Chennai. During the year, this unit handled nearly 50 million transactions. CFD sources applications for all products through contemporary mobile number applications, which have enabled a seamless credit and business approval process.
6. Bharat Financial Inclusion Limited
6.1 Bharat Financial Inclusion Limited (BFIL)
Bharat Financial Inclusion Limited (BFIL), a wholly owned subsidiary of Induslnd Bank, acts as a key business correspondent, championing financial inclusion across India. On behalf of the Bank, BFIL delivers essential banking services, including microfinance loans, merchant financing, deposit products, remittances, and more, to underserved communities. Induslnd Bank first entered the microfinance space over a decade ago through partnerships with specialized lenders. The strategic merger with the erstwhile BFIL in 2019 solidified the Banks position among Indias foremost microfinance institutions.
Today, BFIL has a deep-rooted presence in rural India, reaching over 1.62 lakh villages across 550+ districts in 23 states, spanning rural, semi-urban, and urban geographies. Backed by a dedicated team of over 32,000 field staff, BFIL enables millions of everyday financial transactions—from small-ticket loans and repayment collections to account openings and insurance offerings. These services dont just meet needs, they help customers fulfil aspirations like owning a two-wheeler or a household appliance, contributing to economic upliftment and progress.
6.2 Macro Economy & Sector Outlook
Indias real GDP expanded by 6.5% in FY2025, moderating from the 9.2% growth seen in FY2024. Gross Value Added (GVA) at constant prices rose by 6.4%, compared to 8.6% in the previous fiscal. This deceleration was primarily driven by a high base effect, lingering global headwinds, and sectoral stabilization following the sharp post-pandemic rebound. On the inflation front, retail price growth softened significantly. The Consumer Price Index (CPI) eased to 3.34% in March 2025, its lowest level in six years, down from 4.85% a year earlier, largely due to declining food prices.
Rural Indicators
- FMCG Sector: Overall volumes saw a 7.1% quarter-on-quarter increase in Q3 FY2025, fuelled by strong rural demand, which grew by 9.9%, almost double the urban markets 5.0% growth.
- Tractor Sales: Sales were muted in H1 FY2025 compared to the previous year but picked up in H2, resulting in an 8.4% increase for the full year FY2025, reflecting a partial recovery in rural economic activity and MFl portfolio quality.
- Rural and Semi-urban Credit and Deposit balances: Deposit balances increased 9.5% year-on-year for FY2025 as against 13% in FY2024. Credit balances grew 12.6% y-o-y for FY2025 compared to 20.5% in FY2024.
- Two-wheeler sales: Two-wheeler sales of the leading 6 automakers (~ 95%) stood at 1.9 Cr units in FY2025, which was 9.3% than FY2024, which was lower compared to 13.9% growth in the previous year.
Consumption Trends
Indias economic momentum continues to be fuelled by rising private consumption. According to the latest Household Consumption Expenditure Survey, the average rural household spending more than doubled from Rs 1,430 in FY2012 to Rs 4,247 in FY2024.
Also evident is an increase in non-food expenditure (transport, consumer durables, and medical expenses), presenting an opportunity for BFIL with its Consumer Durable Finance, Hospicash (Hospital Cash Insurance Benefit), and Rural Mobility Loans.
Sector Outlook
While macroeconomic indicators improved in FY2025, the benefits were slow to reflect in the microfinance sector. Microfinance institutions (MFIs) continued to face pressure from elevated borrower leverage, uneven regional performance, and tighter customer onboarding norms. Region-specific disruptions also weighed on overall portfolio growth. Towards the end of the year, however, early signs of stabilization became visible, driven by improved collection efficiency and strengthening portfolio quality.
The microfinance industry recorded a 13.9% decline in its gross loan portfolio, bringing it down to Rs 3.81 lakh crore in FY2025. Karnataka experienced a pronounced decline following a recent ordinance. Later stage delinquencies (91-180 days and 180+ days) continued to rise, while early delinquencies (1-30 days) improved, dropping to 1.4% in March 2025 from 1.8% in December 2024.
Looking ahead, the sector is expected to return to a growth trajectory in FY2026. However, asset quality will remain a key area of focus, and profitability is likely to recover gradually as MFIs adapt to new regulatory norms and address the aftereffects of the FY2025 downturn. Sustained growth will depend on continued improvements in collection efficiencies and a recovery in the rural economy. Improved process of HHI assessment and implementation of MFIN guardrails will help in sourcing quality customers, resulting in better portfolio quality.
6.3 Assets
As of March 31, 2025, BFIL managed an asset portfolio (net) of over Rs37,381 crore, reflecting a 12.7% year-on-year decrease. Notably, the second half of the year saw a positive shift, with the portfolio expanding by 4.6%, indicating renewed momentum in asset growth. The active borrower base stood at 78 lakhs through its 3,756 branches across 23 states. Disbursements for FY2025 stood at Rs44,305 crore, a 17.3% decline from Rs53,577 crore in the previous year, reflecting a more calibrated approach to lending during the period. Overall, BFIL is serving approximately 169 lakh clients across both assets and liabilities, while 75 lakh customers hold both asset and liability products of the Bank.
Microfinance
BFILs microfinance business is dedicated to empowering women entrepreneurs at the grassroots, enabling them to build financial independence, support their families health and education, and improve overall well-being. The majority of these women drive rural livelihoods through diverse activities such as livestock rearing, farming, agri-processing, handmade crafts, tailoring, and more. BFIL operates through a blend of high-touch (BFIL field staff assisting the borrowers in conducting financial transactions) and technology-driven (in-house technology platform enabling paperless processing of loans) models that have enabled it to gain market leadership in this space.
BFILs microfinance business continued to demonstrate scale and reach, with a presence in 1.6 lakh villages across 468 districts and 21 states. It handles the credit requirements of 77 lakh women borrowers and receives deposits from 108 lakh clients.
During FY2025, BFIL onboarded 8.7 lakh New to Bank loan clients to its microfinance business.
The microfinance business faced multiple external challenges during FY2025, including a prolonged election cycle, widespread Karza Mukti Abhiyan (loan waiver) campaigns in North India, severe heat waves, and the implementation of the Karnataka ordinance. These factors collectively had a significant adverse impact on business performance.
As of March 31,2025, BFILs microfinance loan book stood at Rs29,960 crore. The reduction was driven by a cautious disbursement strategy, prioritizing high-vintage centers and established customers to manage risk. Notably, disbursements in the second half of FY2025 increased by 21% over the first half, signalling a recovery in operational momentum.
During the same period, BFIL intensified its focus on portfolio quality and recovery efforts. As a result, the collection efficiency and recovery have improved.
Loans to Merchants
As a business correspondent of the Bank, BFIL provides targeted credit solutions to entrepreneurs running small retail shops across India, effectively bridging the Missing Middle through its Bharat Super Shop (BSS) program. BFIL provides these nano-entrepreneurs with a range of banking services, including zero-balance current accounts, recurring deposits, secured and unsecured working capital loans, payment services like UPI/QR codes, and mobile/ WhatsApp banking channels.
As of March 31, 2025, BSS operated in 558 cities across 19 states, serving over 17 lakh merchants, with an active borrower base nearing 7 lakhs and a loan book of Rs 7,260 crore, reflecting 30.5% year-on-year growth. While the first half of the year saw only moderate growth of 4%, the second half recorded a significant acceleration, contributing to the strong annual performance.
6.4 Liabilities
True to its vision of being a diversified financial services provider to its serviced banks customers, BFILs liability book has shown a robust y-o-y growth. Customers serviced by BFIL hold around 191 lakhs active accounts with Induslnd Bank, and the liability pool for all BFIL-serviced customers, including savings, current, recurring, and fixed deposit accounts, amounts to Rs 2,680 crore (an 8% y-o-y decline) as of March 2025.
6.5 Transaction Points and Customer Service
BFIL remains committed to closing the last-mile gap and advancing financial inclusion across India. In 2017, it partnered with Induslnd Bank to launch the Bharat Money Store (BMS), a dedicated banking and transaction platform designed to empower kirana merchants with accessible financial services.
As of March 31, 2025, BMS has about 80,936 Kirana merchant outlets spread across 36,000+ villages, 620+ districts, and 20 states, reaching out to the remote corners of India. During the year, around 16,595 new merchants were onboarded. The merchants leverage the banking and transaction platform of BMS and act as banking touchpoints, providing a range of banking and financial services to the public.
During FY2025, the BMS outlets served around 50.3 lakh rural customers and facilitated transactions worth Rs 4,882 crore, including Aadhaar-enabled remittances, opening savings and deposit accounts, utility payments, and more.
6.6 CSR Program
BFILs CSR policy is rooted in rural upliftment, with a focus on narrowing the urban-rural divide by strengthening essential services and local infrastructure. Every initiative is crafted to complement existing systems and amplify long-term societal impact.
Bharat Sanjeevani
Bharat Sanjeevani, BFILs flagship CSR program, delivers doorstep emergency response services for livestock farmers in rural India. By leveraging technology, the initiative helps reduce mortality and disease incidence, improve productivity, and drive better livestock management practices. It addresses critical gaps, such as the shortage of veterinary professionals and high transportation costs, easing operational burdens and improving the livelihoods of farming communities.
Bharat Sanjeevani delivers timely veterinary care to livestock farmers through a Doctor-on-Call model, accessed via a toll-free helpline. By combining advanced technology with partnerships across state and central governments, milk federations, and international development agencies, the program brings essential treatment, medicines, and expert guidance directly to farmers doorsteps.
This program is implemented across the states of Himachal Pradesh, Jharkhand, Karnataka, Maharashtra, Madhya Pradesh, Rajasthan, Tamil Nadu, Telangana, and Uttar Pradesh.
FY2025 marked exceptional growth for the program in both scale and impact. A centralized IVR-based helpline handled over 20.87 lakh calls from targeted beneficiaries. Livestock treatments
more than doubled, from 6.34 lakh in the previous year to 12.94 lakh in FY2025, registering a 206% increase. The program also delivered 2.19 lakh artificial inseminations and 61.87 lakh vaccinations, underscoring its wide-ranging effect on animal health and productivity.
Karnataka: A Model for Integrated Delivery
Karnataka stood out as a model state under the Bharat Sanjeevani framework. With support from the Department of Animal Husbandry and Veterinary Services, the initiative was implemented across Koppal, Gadag, and Raichur districts. Nearly 8 lakh farmers benefited from a holistic service suite covering animal health, breeding, and nutrition. Based on its successful outcomes, the Karnataka government has requested program expansion into additional districts.
Cow Sanctuary Interventions in Madhya Pradesh and Uttar Pradesh
The initiative is unique in nature as it caters services to stray and non-productive cows, extended to cow sanctuaries in Madhya Pradesh and Uttar Pradesh, providing 52,000+ treatment services to cows, producing nearly 2,000 tons of green fodder, diagnostic support, and training on best practices in livestock management. These efforts not only improved the health of resident cattle populations but also contributed to institutional capacity within sanctuary operations.
Bharat PRAGAT
The Bharat PRAGAT initiative focused on strengthening natural resource management and enhancing healthcare access in Karnataka. Under its Watershed Development program, over 10,500 hectares of land were treated, resulting in the conservation of nearly 879 million litres of water. Nearly 17,000 farmers participated in agroforestry and horticulture-based livelihood models, bolstered by government investments through the MGNREGA scheme. In parallel, the Bharat PRAGAT Healthcare program enabled 1.17 lakh consultations, provided diagnostic services in government PHCs and sub-centres, and conducted community awareness drives on non- communicable diseases.
Bharat Sanjeevani 2.0-NRLM
Bharat Sanjeevani 2.0 was launched in partnership with the Ministry of Rural Development, Government of India, to support livestock- based livelihoods under the Deendayal Antyodaya Yojana- National Rural Livelihood Mission (DAY-NRLM). Implemented across six states, Maharashtra, Madhya Pradesh, Jharkhand, Uttar Pradesh, Rajasthan, and Bihar, the initiative aims to strengthen rural income generation through livestock development. The program promotes livestock clusters by engaging State-level Project Management Units (SPMUs) and national-level technical support structures. It deploys domain specialists across key livelihood streams including dairy, goatery, poultry, fishery, and value chains, ensuring focused capacity-building and end-to-end value enhancement for rural communities.
Technical assistance, training for Pashu Sakhis, and convergence with government schemes ensured a sustainable impact.
NEW INITIATIVES BHARAT
Sanjeevani, Tripura
Bharat Sanjeevani program was launched in collaboration with Animal Resource Development Department, Government of Tripura to implement Establishment & Strengthening of Veterinary Hospitals & Dispensaries - Mobile Veterinary Unit (ESVHD-MVU) scheme of the government of India in the state of Tripura during FY2025. The program aims to bring high-quality animal healthcare and productivity solutions to remote tribal and rural regions of Tripura, addressing critical service gaps and aligning with the states rural development goals.
Bharat Sanjeevani Krishi Utthan
BFIL partnered with the Ministry of Agriculture and Farmers Welfare to support the Central Sector Scheme for the Formation and Promotion of 10,000 FPOs.
The intervention targeted at empowering FPOs through digital systems, capacity building, and market development. It will cover 11 states: Rajasthan, Karnataka, Telangana, West Bengal, Andhra Pradesh, Odisha, Madhya Pradesh, Maharashtra, Bihar, Jharkhand, and Uttar Pradesh in its initial phase.
BFIL-CSR represents BFILs commitment to inclusive rural development. By combining scale with sustainability, and field- level service delivery with policy-level integration, the initiative continues to transform the landscape of livestock livelihoods in India, making a meaningful contribution to national goals such as SDG 2 (zero hunger), SDG 3 (good health and well-being), and SDG 13 (climate action).
6.7 Sustainable Development Goals (SDGs)
BFILs initiatives align with 12 of the 17 Sustainable Development Goals (SDGs). Bharat Pragat, our CSR initiative, aims for holistic village development by enhancing access to basic needs such as water and healthcare. It collaborates with local governments and communities, utilizing public infrastructure to meet these requirements. BFIL also supports members in availing services that contribute to SDGs and provides comprehensive primary healthcare services through government facilities, focusing on preventive and curative treatments and water conservation efforts.
No Poverty and Zero Hunger: BFIL offers IndusInd Bank products to the underbanked segments of the population, promoting financial inclusion and offering income-generating loans that address poverty. The Banks CSR initiatives directly help livestock health and sustain income generation through livestock. Under CSR Initiatives, Bharat Sanjeevani, emergency response centres offer precision-driven service through technology, and prompt and accurate treatment for the livestock of farmers, ensuring income levels are sustained. Artificial insemination helps improve income generation through the creation of livestock assets.
Good Health and Well-being: Bharat Sanjeevani and Bharat Pragats CSR initiatives offer comprehensive healthcare services, contributing significantly to community health and well-being.
Gender Equality: By providing microfinance loans exclusively to women, BFIL supports female entrepreneurship and boosts womens participation in the workforce.
Clean Water and Sanitation: The Bharat Pragat initiative focuses on water conservation, enhancing water table levels in reservoirs, and ensuring the availability of clean water. Besides, financial assistance is provided to purchase water filters, ensuring the availability of clean water in the hinterlands.
Affordable and Clean Energy and Climate Action: Several clean energy products, such as solar lights and energy-efficient home appliances, contribute to reduced carbon footprints and promote clean energy usage.
Industry, Innovation, and Infrastructure: Through the loan products of the Bank, BFIL facilitates easy access to financing, enhances mobile penetration, connects remote corners of the country to the Internet, and promotes seamless communication.
Reduced Inequalities and Sustainable Cities and Communities:
BFIL promotes financial inclusion and credit facilities for the underbanked, empowered communities by providing livelihood opportunities and reducing inequalities.
Partnerships for the Goals: The Bharat Pragat initiative adopts a collaborative approach with the local governments and communities, forging reliable partnerships to achieve sustainable goals.
7. Global Diamonds and Jewellery Group (GDJG)
The Gems and Jewellery Industry plays a vital role In Indias export ecosystem and remains a key pillar In Indias growth story, particularly in boosting exports of goods and services. Apart from contributing to merchandise exports, the sector provides substantial employment opportunities in India and fosters the growth of MSMEs. GDJG holds a leading position in financing this industry segment in India and globally. This sector is one of the Banks major domain leadership verticals. The Banks excellence in this field has been recognized repeatedly by the Trade Council. Recently, the Gems and Jewellery Export Promotion Council (GJEPC), sponsored by the Commerce Ministry of the Government of India, awarded the Bank as the Best Bank Financing the Industry in the category of Highest Growth of Limit Sanctioned with Minimum Base of Rs 500 crore.
GDJG, from predominantly being a mid-stream player for financing manufacturers of polished diamonds, has evolved to financing rough trading activities, polished distribution, jewellery manufacturing and distribution, domestic retail jewellery, and lab- grown diamonds. Apart from financing through the domestic tariff area, GDJG has contacted clients in Hong Kong, UAE, Belgium, USA, and Luxembourg through GIFT City. The total client base is 35% MSME, and the portfolio quality was maintained during FY2025. The coverage model is based on relationship banking, which captures the clients entire wallet. It provides a huge cross-selling opportunity for the Bank.
8. Corporate and Commercial Banking Group (CCBG)
The Corporate and Commercial Banking Group (CCBG) franchise caters to a diverse clientele ranging from emerging mid-large Indian companies with annual turnovers above Rs 150 crore to large conglomerates, public sector undertakings, NBFCs, financial institutions, and multinational corporations. The CCBG franchise offers a comprehensive corporate product suite to support the financial and strategic banking needs of clients throughout their entire business lifecycle. Its offerings include working capital finance, supply chain solutions, trade solutions, cash management services, capex and project financing, strategic advisory and financing, capital markets solutions, global market solutions, and varied cross-bank products and services. Over the years, the Bank has extended financing to projects across high-impact sectors, including renewable energy, water treatment, e-mobility, energy efficiency, and city gas distribution.
In FY2025, the corporate India exhibited a moderate performance, mirroring the GDP growth slowdown to 6.4% from 8.2% in FY2024. While global, economic, and political uncertainties posed ongoing risks, these headwinds were partly offset by robust government capital expenditure and a rebound in rural consumption demand.
As of March 31, 2025, the Banks corporate book stood at Rs1,43,463 crore. The Bank, as a prudent liquidity management measure, reduced its corporate bank loan book in the second half of the financial year. Barring this short-term tactical measure, the credit expansion was wide-based across small, mid, and large corporates in FY2025, with a higher focus on deepening our presence in mid corporate clients. The growth momentum of the mid-sized and small corporates exceeded overall business momentum, aligning with the Banks strategic focus on developing its small and emerging mid-sized corporate book. The CCBG unit continues to deliver on its strategic priorities while maintaining robust asset quality, our proportion of A-rated customers and risk density of the book remains within the accepted threshold, and the slippage ratio has reduced in FY2025. Our corporate franchise remains healthy and fundamentally well-placed to leverage economic tailwinds and achieve the desired segmental growth.
In FY2026, CCBGs strategy for creating long-term value focuses on sustainable growth with improved profitability and strengthening its presence among the small and mid-sized corporations. The unit will continue to prioritize the following strategic objectives:
a) Deepen segmental leadership in the mid and small corporate space through targeted franchise expansion.
b) Strengthen client profitability by enhancing ecosystem and transaction banking capabilities, enabling greater cross- selling and deeper engagement.
c) Build a cost-effective and sustainable liability base leveraging the Banks ONE BANK model.
d) Maintain excellence in underwriting to manage credit costs within target levels.
8.1 Client Coverage Groups
To support its evolving franchise, CCBG undertook a strategic realignment of its coverage architecture in 2024, ensuring sharper segmentation and deeper client engagement. This refined model continues to strengthen its ability to serve clients more effectively, enabling it to scale in line with desired segmental growth and be able to deliver the relevant client experience, addressing each customers diverse and customized requirements.
This continuous optimization of the coverage model reflects our commitment to adapting our clients evolving needs, positioning us to grow with them and build long-term value in a dynamic market environment.
Corporate and Institutional Banking Group
This unit is strategically focused on conglomerates, institutional groups, and large corporations across India. With a deep understanding of their geographical and sectoral complexities, it leverages bespoke coverage models, embedded product partnerships, and sector-specialized services to reinforce the Banks leadership among top-tier corporate clients.
Commercial Banking Group
The Commercial Banking Group focuses on expanding the Banks franchise presence within the mid-corporate segment. It anchors mid-market growth strategy, guided by a relationship-lending model that enhances product penetration and granular liability.
The unit is dedicated to expediting the onboarding of new clients by targeting under-penetrated regions and activating untapped markets. It aims to harness robust promoter relationships and capitalize on strategic opportunities within the broader ecosystem.
Emerging Local Corporate
Formerly the SME Business Group and carved out as a separate unit in FY2022, this unit is dedicated to addressing the banking needs of emerging mid-corporate enterprises.
8.2 Specialized Business Verticals
The CCBG unit offers sector-specific solutions through dedicated coverage and provides tailored product and service offerings, supported by in-house domain expertise.
Through dedicated coverage in the identified specialized sectors, the CCBG group focuses on providing a customized product and services suite backed by in-house domain expertise:
Real Estate
With a sharp focus on both commercial and residential segments, the unit provides targeted offerings such as lease rental discounting and construction finance, solutions crafted to meet the unique cash flow and capital requirements throughout a project lifecycle. It also delivers advisory and syndication services to support REIT structuring and capital raising strategies.
A key differentiator of the unit lies in its targeted underwriting strategy. This involves an in-depth analysis of specific geographies, demand-supply dynamics, and project viability at a granular level. The unit ensures that its portfolio remains resilient and well-diversified, regardless of external conditions. This focused approach enhances risk mitigation and supports sustainable growth, while also fostering long-term client relationships.
Financial Services
As a critical enabler in the financial ecosystem, this vertical delivers a comprehensive suite of financial products and services to a diverse range of participants in the financial services sector, including NBFCs, HFCs, insurance companies, mutual funds, capital market clients, and public financial institutions. The units prudent credit approach is reflected in a portfolio predominantly rated A and above (internal rating), showcasing prudent risk management and credit quality. It has established itself as a preferred transaction banking partner, holding a leading market share in cash management and escrow services for top-tier NBFCs.
In step with a shifting landscape, the unit is actively engaging with fintechs and new-age financial entities, supporting their full cash management lifecycle with agile, tech-led solutions.
Recognizing the rapid evolution of the financial landscape, the unit is collaborating with fintechs and other emerging financial service providers to seize this new opportunity. The unit has successfully made inroads with well-capitalized and established fintech companies, supporting them throughout their cash management lifecycle.
Education and Healthcare
The Education and Healthcare vertical adopts a consultative banking model, offering customized solutions such as project financing, cash management, virtual account solutions, escrow services, and digital services for end-to-end fee collection and reconciliation.
Within the healthcare industry, the Bank focuses on the broader ecosystem by serving hospitals at all care levels and major diagnostic chains, while also aligning with its consumer franchise to provide medical equipment financing.
Within the education industry, the Bank specializes in providing tailored solutions to both public and private educational institutions, as well as online education platforms, enabling them to effectively accomplish their business goals.
Agriculture Business Group
Anchored in a value chain approach, the agriculture vertical serves clients from HNI farmers to agri corporates. With a strong presence in 17 states, operating across 60 locations, and catering to 45 different commodities, the unit has established a robust foothold in core agriculture-based markets. Through its flagship Pledge Finance product, the Banks unit leads in commodity-based funding. This unit is intensifying its focus on sectors like dairy and edible oils, while driving strategic growth through agri-cluster development. These 7-10 identified clusters receive dedicated lending support through the branch network, further aligning with the Banks strategic priority to strengthen Priority Sector Lending (PSL) performance.
8.3 Supply Chain Finance (SCF)
The Supply Chain Finance (SCF) unit plays a strategic role in advancing the Banks agenda of enhancing portfolio granularity. It offers a wide range of financing solutions, including channel and vendor finance, customized to the unique requirements of dealers and vendors across key industries such as automotive (including OEMs), steel, and consumer durables.
The SCF offering has deepened the Banks engagement with large corporates, supported by a dedicated and experienced relationship team, strong product propositions, and seamless service delivery. Operating through a hub-and-spoke model, the unit spans over 250 business locations, servicing approximately 3,000 dealers and 3,000 suppliers with structured, end-to-end financial solutions.
The SCF portfolio remains a key pillar in driving portfolio granularity for the Banks corporate franchise. Continued investments are being made to expand capabilities, especially in the small businesses.
The Banks comprehensive SCF product solutions are widely recognized as best-in-class, further validated by various accolades. The unit received several recognitions at international and domestic platforms for SCF solutions/business. Our supply chain finance team was awarded Best Private Sector Bank for Highest Throughput on TReDS on Mlxchange for MSME in February 2025, one of the best private sector banks for dealer finance solution partner by TVS Motors Limited in September 2024, Platinum Partner by HD Hyundai Construction for dealer finance business in July 2024, and Best SCF solutions for eight anchor programs at The Asset Triple A Treasurise Awards 2025.
These accolades underscore the Banks commitment to offering best-in-class, industry-leading solutions.
Additionally, the Bank has maintained a high-quality SCF portfolio and achieved significant growth, enabled by robust governance frameworks and advanced portfolio monitoring systems.
8.4 Marketing initiatives
in 2022, we launched a dedicated corporate franchise marketing strategy for Corporate and Commercial Banking Group, with a focus on digital marketing and client engagement activities. in 2024-25, we scaled up our communication strategy further to enhance brand presence, engage with diverse stakeholders, and ultimately drive business growth. Our initiatives spanned digital platforms, targeted campaigns, internal engagement, and external communications, reflecting our commitment to innovation and customer centricity.
Some of our targeted campaigns, including sector support and topical engagements, were to strengthen relationships within the vital SME segment, with campaigns sharing client success stories and testimonials. We hosted podcasts with expert discussion on the segment, aiming to elevate brand presence and drive meaningful conversations. Also, to increase awareness about regulator/ government initiatives, we launched awareness campaigns about programs such as the TreDs facility, to promote adoption of digital, secure, and formal financing channels amongst SME clients.
At regular intervals, we ran a comprehensive cybersecurity awareness campaign on CCB apps, focusing on crucial aspects like spoofing, phishing, and vishing to safeguard our clients and digital ecosystem.
We also facilitated knowledge-sharing through best-practice case studies and launched a rewards and recognition program to celebrate high-performing employees and embed a culture of excellence.
8.5 Investment Banking
The Banks investment Banking unit delivers tailored corporate finance advisory services, spanning both equity and debt, to Indias leading business groups across a wide spectrum of industries. The unit supports a diverse array of industries, such as financial services, renewable energy EV - mobility solutions, fintech/digital tech, healthcare, hospitality logistics, education, real estate, and the entire spectrum of industrials and Manufacturing. it offers end-to-end strategic support in M&A advisory, private equity advisory, structured finance and Debt Capital Markets (DCM) to aid growth, capitalization, or consolidation initiatives for the Banks clients. This is facilitated by the Banks expertise across various investment banking products and well-entrenched relationships with the investor community, market intermediaries and Indian and international corporates, enabling the Bank to act as a one- stop solution provider for both equity and debt.
The well-established DCM team, given their sector-agnostic expertise, continues to partner with other units within the Bank to offer bespoke debt solutions for clients. Their services span a wide array, including project finance, structured finance, foreign currency, working capital, securitization, off-balance sheet financing, mezzanine, and acquisition financing. in addition to employing a debt underwriting and sell-down strategy, the DCM team is actively engaged in providing debt advisory and fundraising services for corporate clients. This involves syndicating the debt with reputable institutions that meet the clients specific end-use requirements, while adhering to the local regulatory framework. The teams effectiveness is amplified by leveraging the Banks excellent distribution reach across a network of banks (private, public, and foreign), NBFCs, asset management companies (including mutual funds, credit funds, impact funds, infra debt funds), FPIs, insurance companies, multilateral institutions, and more. With a remarkable track record, the Bank has established itself as one of the leading Mandated Lead Arrangers in India.
8.6 Public Sector Group
The Public Sector Group fosters deep, trusted relationships with a wide range of Public Sector Undertakings (PSUs), including distinguished Maharatnas, Navratnas, and Mini Ratnas, governed by the central and select state governments. With a sharp institutional focus, the Bank Is equipped to understand and address the specific financial needs and strategic priorities of these prestigious PSUs.
Given their strong credit standing and historically low delinquencies, PSU assets are highly sought after within the banking sector. Despite intense competition and tight pricing, the Bank has consistently expanded its PSU asset portfolio. In addition, PSUs are a key source of stable liabilities and growing current account balances, further strengthening the Banks liability franchise over time.
The group extends tailored solutions to PSU clients across several domains, including trade, forex, cash management and a suite of digital products. Furthermore, a comprehensive range of asset products, including term loans, working capital finance, bonds and NCDs are also available to these esteemed clients, meticulously customized to meet their specific requirements. The Bank offers targeted retail banking products to the employees of its PSU clients. These include salary accounts, credit cards and retail loans amongst junior and middle-level managers and a pioneer range of products for the senior management team. The Bank is keen to garner Increased market share and be a sizeable banking partner to strategic large PSUs.
8.7 Financial Institution Group
The Financial Institutions Group (FIG) manages and nurtures the Banks relationships with banks and various types of financial intermediaries in the global financial market. The unit manages relationships across financial institutions ranging from domestic banks, international banks, development financial institutions (DFIs), export credit agencies (ECAs), and multilateral financial institutions (MFIs). FIG also oversees the Banks correspondent banking network, which includes nostro and vostro accounts and RMA arrangements with partner banks across the globe. In addition, the unit plays a key role in formulating and managing the Correspondent Banking Policy and Bank Risk Policy. Over the years, FIG has evolved into a specialized sectoral vertical of the Bank, managing diverse roles from business origination and facilitation to policy-making and risk management, along with their primary role as the channel manager of the Banks correspondent banking network.
Despite challenges in the global trade and payments environment, driven by geopolitical tensions and financial market volatility, FIG delivered strong performance in FY2025. It enabled the Bank to deliver superior correspondent banking services, while contributing meaningfully to both revenue and profitability through a high-quality and profitable FI portfolio.
FIG works closely with the ALM desk in areas such as resource raising and balance sheet management, adding value to these endeavours by virtue oftheir domain knowledge and client coverage. During the year, FIG helped to generate liquidity from global and domestic financial institutions to the tune of USD 4 billion through market borrowings, syndicated/bilateral loans, inter-bank deposits, and refinance. FIG was also actively Involved in balance sheet management by buying and selling assets through products like Inter Bank Participation certificates, Bill Rediscounting, and Risk Participation. The Bank conducts its FI Business in strict conformity with applicable domestic and international laws and abides by various global sanctions as applicable to Indian banks from time to time.
9. Digital Banking
In FY2025, the Bank continued to advance its Digital 2.0 agenda, transitioning from being tech-enabled to truly tech-led. This transformation is anchored in a strategic digital roadmap focused on three core objectives:
a. Create an efficient and profitable direct digital business through marketing of Banks digital platforms and API Banking
b. Drive superior customer engagement and experience
c. Drive cost efficiency and productivity through zero operations design principles
IndusInd Bank now offers one of the most comprehensive digital stack for new customer acquisition, with fully digital onboarding journeys across products such as savings accounts, term deposits, current accounts, personal loans, credit cards, and small-ticket business loans. These journeys are seamlessly Integrated with Video KYC and mar-tech stack capabilities to drive platform marketing and funnel management, and conversions. The lending platforms are enabled with real-time decision algorithms that leverage advanced analytics and machine learning.
As a result, over the last three years, the direct digital business model of the Bank scaled tremendously, with the digitally acquired liabilities balance sheet growing at a CAGR of 66% and digitally acquired assets at 341%. In FY2025 alone, the digitally acquired assets grew 56% y-o-y and digitally acquired liabilities grew 12% y-o-y. The Bank acquired ~75,000 clients per month digitally, and over the year disbursed Rs 2,000 crore in personal loans to new-to- bank clients acquired digitally, up 71% from FY2024. (This does not include pre-approved personal loans offered to existing customers of the Bank and only Includes loans where real-time decision- making is leveraged). Moreover, the Bank acquired nearly 2,00,000 new credit card relationships digitally. The Bank launched a new digital wealth management platform and over 100 crore of Mutual Fund orders are booked each month from the said platform.
The digital business model emphasizes efficiency, with customer acquisition costs for digitally acquired clients significantly lower than those acquired offline. The digital marketing team focuses not only on performance marketing but also on content marketing and awareness marketing. As a result, the brand search volumes for IndusInd Bank across major keywords achieved an all-time high with a 12% y-o-y increase. This has led to an Increase in the organic mix across digital lines of businesses.
9.1 Scale-up of INDIE as a platform - a revolutionary way to Bank
Launched in October 2023, INDIE is possibly the most innovative and transformative product ever introduced by any major bank in the country. Designed to revolutionize personal finance with several industry firsts, INDIE shifts from a product-led to a customer-led operating model, delivering the best of breed in all financial services, including payments, lending, wealth management, deposits, rewards/loyalty, or family banking. With hyper-personalization, innovation, trust, and security as its core tenets, differentiating features of INDIE include:
a. Advanced payment capabilities with smart recurring setups and reminders
b. Flexible line of credit
c. Personalized and transparent loyalty program
d. Enhanced security features like virtual disposable cards, numberless cards, super-OTPs for low mobile networkzones
e. Simplified wealth management
f. Single, unified view to comprehensively manage all your relationships with the Bank across loans, wealth, cards, deposits for both domestic and NRI clients
During the year under review, the Bank started the process of migrating its existing customers to the upgraded platform INDIE. As of March 2025, the INDIE app had a total registered base of 1.6 million. 20% of the CASA clients had already migrated to the upgraded app INDIE. With the sunset of the existing IndusInd Mobile Banking application, all customers of the bank are expected to get registered on the upgraded app by June 30, 2025.
Currently, IndusInd Banks upgraded app INDIE is ranked amongst the top 3 banking apps in the country with a Play Store Rating of 4.6 and an App Store Rating of 4.7. The app has a total registration base of 1.6 million and processes more than 1.2 crore transactions every month.
9.2 Launch of INDIE for Business - all in one business banking app for MSMEs
IndusInd Bank launched an all-new INDIE for Business app for MSMEs to cater to the needs of its business banking clients. With INDIE for Business, clients can:
a. Instantly register themselves with a 100% digital onboarding process
b. Get a 360-degree view of their relationship with the Bank across multiple entities where the client is a signatory.
c. Easily switch across their multiple entities or businesses and manage accounts in each
d. Manage their working capital loans or term loans - view drawing power, get interest certificate, get reminders on EMIs, generate loan statements
e. Make bulk payments for salary or vendors
f. Make tax payments with ease - be it GST to CBDT
g. Make bill payments
h. Manage their cards
i. Manage their collections with ease with solutions such as QR, apply for POS, collection links, digital ledger, etc
j. Get smart statements of account, which can be exported in Excel for ease of analysis
As of March 2025, the App already had a registered base of over 50,000 MSME customers with a monthly transacting rate of 75%. Gaining steady traction, the app continues to increase its momentum and is continually improved based on user feedback. The app has a rating of 4.4 on the App Store and 4.0 in the Play Store. Soon the app will also be open for cross-border payments, aiming to help exporters and importers in their day-to-day business operations.
9.3 Launch of new Net Banking Platform
With a vision to deliver an improved and seamless experience, the
Bank also revamped its existing net banking platform, INDUSNET.
The new platform is based on the platform architecture of INDIE and offers:
- Customer 360 view across all loans, deposits, cards, and wealth products that the client has with the Bank.
- Personalized access management for customers to access all features and flexibility to define their access rights (view/ transact) as per authentication modes and preferences.
- Revamped payment experience with smart alerts and reminders.
- Standalone loan customers can also now seamlessly register to the revamped net banking platform, which allows them to view their loan details, download statement of accounts, and pay their EMI overdue amounts.
- Credit card integration has been revamped using an advanced API stack for improved performance of credit card- related functionalities.
- Revamped wealth management journeys.
Overall, more than 1.5 lakh customers of the Bank have migrated to the new net banking platform.
9.4 Launch of new GIFT City App
Gujarat International Finance Tech City, Indias pioneering International Financial Services Centre (IFSC), is a flagship initiative by the Government of India to establish a global financial hub within the country. The International Banking Units (IBUs) established in the GIFT City provide a digitally-enabled, globally aligned environment for conducting international financial transactions, offering various banking and financial services to both domestic and international clients.
Induslnd Bank is honored to be amongst the selected banks granted approval to operate within the GIFT City IBU. As one of the 30 banks authorized to operate in this prestigious financial centre, we are committed to delivering cutting-edge banking solutions and unparalleled service to our esteemed customers. To serve this commitment and redefine the global banking experience of our international clientele, Induslnd Bank takes pride in introducing the GIFT City International Banking Unit (IBU) mobile application, making the Bank one of the first banks to offer a dedicated mobile application for GIFT City banking. The app is now live on both Play Store and App Store.
Designed for NRls, OCIs, foreign nationals, and resident Indians, the app brings the world of banking to customers fingertips with unparalleled convenience and efficiency with key features being:
a. Digital Registration: Easily register your savings and current accounts with secure OTP and biometric authentication.
b. Account Management: View detailed account information, balances, recent transactions, and download statements effortlessly.
c. Seamless Transactions: Perform outward and inward remittances with just a few taps and manage beneficiaries with ease.
d. Investment Services: Open and manage term deposits with real-time interest rates and flexible options for auto-renewal and interest payout.
e. Enhanced Security: Multiple authentication mechanisms, including MPIN and biometric verification, ensure your accounts safety.
f. User-friendly Interface: Intuitive design for easy navigation, providing quick access to all essential features.
g. Customer Empowerment: Self-service options for managing account settings and transactions, minimizing the need for branch visits.
9.5 EasyCredit: Accelerating Business Transformation
EasyCredit, the Banks flagship digital lending platform that offers an end-to-end digital journey for all retail loan products, credit cards, personal loans, unsecured business loans, and working capital loans, continued to drive the business transformation agenda forward. During the year, the platform was enhanced to offer new products, such as account aggregator integration, new risk models, real-time STBL loans for new-to-bank clients, digitized disbursement using e-sign, e-mandate, and e-stamp, among others. With over 1.2 million applications processed monthly and a 39% year-on-year uptick, EasyCredit has become a growth engine. In FY2025, 100% of the personal loans and credit cards originated digitally in FY2025. The Bank has been able to save annualized costs of more than Rs 100 crore by adopting this platform.
9.6 Digital Marketing
a) IndusInd Bank Festive Campaign:
indusind Bank launched an insight-driven festive campaign with an overarching thought of Celebrations Zaroori Hai covering Meta, Google, YouTube, and other digital channels.
The campaign encouraged customers to celebrate the festive season while indusind Bank takes care of their financial needs with exclusive benefits across shopping, travel, dining, and more.
The campaign clocked over 38 million impressions in October and November across various social media platforms, with over 10.5 million views, building strong engagement and emotional relevance with our customers.
b) IndusInd Bank Rupay Credit Card Campaign:
The campaign leveraged a novel concept of using a credit card for UPi transactions, which is both convenient and rewarding. The central theme revolved around the mind-blowing realization that users could not only use their credit card for UPi payments, but also earn double the reward points. Three use-cases were covered - groceries, salon, and a sports shop.
The campaign garnered about 335 million impressions in just 3 months with over 65 million views across Google and Meta. The campaign also resulted in 1.1 million link clicks on Google and 2.8 million link clicks on Meta. Whats more, customer acquisition costs dropped by 50%, and the indusind Bank Platinum RuPay Credit Card began ranking among the top search results on Google.
The campaign effectively communicated the innovative features of the indusind Bank Platinum RuPay Credit Card. it successfully created awareness and interest amongst the target audience.
c) Personal Loan Campaign (Heart Wants):
This campaign was rooted in a simple but powerful idea that gives your heart what it wants with the indusind Bank instant Personal Loan. The creative assets were made across various use cases such as weddings, travel, and home renovation. The campaign helped create a 3.1 million engagement pool, which was strategically leveraged through performance marketing channels.
d) Podcast series with Sonia Shenoy:
We did a podcast series with Sonia Shenoy as the host and industry experts such as Swarup Mohanty (CEO & Vice Chairman - Mirae AMC), Vishal Kapoor (MD & CEO - Bandhan AMC), and Taher Badhshah (CiO - Equities, invesco Mutual Fund). The podcast series was a massive hit and helped us gain over 40 million views.
Our instagram followers skyrocketed from 20,000 in April 2024 to 1.3 lakh in April 2025, with a major contribution coming through this initiative.
e) Womens Day campaign with Tania Sachdev (Women Grandmaster, Chess):
This Womens Day Campaign was aimed to bolster the narrative- DropTheLabels, wherein no matter what label a woman might be given, what matters is what she does and how she performs. The campaign was done with the famous chess player Tania Sachdev, and a series of videos were also made with in-house women leaders. The campaign garnered over 6 million views on instagram during the campaign period.
9.7 Digital Partnerships
The Bank aims to become the partner of choice for fintechs and ecosystem players through its tech-led approach. With 320+ APIs hosted on its gateway, the partners can seamlessly integrate in a compliant and secure manner. Recognizing the potential of partnerships to revolutionize financial services, the Bank is deepening its collaborations with external partners to enhance its offerings and reach out to a broader audience.
The Bank entered into partnerships with various fintechs, including leading marketplaces to facilitate the acquisition of credit cards, personal loans, and fixed deposits. The Bank targets to strengthen its portfolio by leveraging the digital and distribution strengths of such partners. The Bank aims to expand its customer base and product propositions for both assets and liabilities through these partnerships.
9.8 Advanced Analytics and Machine Learning - Driven Decision-Making
During FY2025, indusind Bank significantly strengthened its data and analytics capabilities to support smarter, faster, and more efficient decision-making across the customer lifecycle. Over 60 ML models are successfully deployed across critical functions, such as customer acquisition, underwriting, portfolio management, and collections, and span key liability and lending products, including savings and current account, fixed deposit, credit cards, personal loans, mortgages, vehicle loans, and working capital exposures up to Rs 5 crore.
The Bank undertook focused efforts to enhance its collections capabilities through the deployment of new collection models. These analytics-led interventions enable deeper customer segmentation, improved prioritization of accounts, and optimized resource allocation while maintaining a customer-centric approach.
The analytical solutions and models support improved credit decision-making, personalized engagement, and proactive risk mitigation, contributing towards both business growth and portfolio stability.
Looking ahead, the Bank is well-positioned to leverage innovations in Generative Ai and Analytics to unlock the next phase of growth and enhance operational efficiency throughout its processes.
9.9 WhatsApp Banking and Chatbot
Chatbot and WhatsApp Banking position the Bank to increase its digital footprint and serve as additional on-the-go digital channels for customer engagement. These Ai-powered channels allow the banks customers to avail various banking services like customer servicing, balance inquiry, mini statement, transaction history, and account upgrade, among others, leading to a superior customer experience.
in FY2025, numerous efforts were made to further strengthen user experience and security features. Key implementations included instantaneous email account statement on WhatsApp instead of T+1 delivery, Find ATM/Branch Near Me using Pin Code, account upgrade journey to Select/Exclusive/Grande variants, and much more. With the new features, the Bank also witnessed a rise in the number of registered users on WhatsApp, which surged by 29% during the year under review.
Additionally, the Bank also explored new age technologies like Generative Ai and implemented an intelligent knowledge management bot as Proof of Concept on the Banks website content with extensive features like natural language capability, multi-lingual, and mobile responsiveness, among others.
In the upcoming year, the Bank shall be strategically investing in building state-of-the-art platforms that are powered by generative AI.
10. Global Markets Group
The Global Markets Group (GMG) consists of three main functions:
1. Asset Liability Management (ALM);
2. Trading (Rates, Equities, Foreign Exchange, and Derivatives);
3. Client Sales, comprising the Financial Markets Sales and Solutions team, which provides hedging strategies to clients for their exposures across foreign exchange and interest rates, and the Credit Sales Team, which provides clients access to Debt Capital Markets.
The Asset Liability Management Unit ensures seamless adherence to regulatory mandates, and includes Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Liquidity Coverage Ratio (LCR), Intra-day Liquidity (IDL), Net Stable Funding Ratio (NSFR), as prescribed by the Reserve Bank of India and other regulating bodies. Moreover, the desk manages the Banks daily liquidity needs through calibrated funding strategies across both Rs and foreign currency avenues. The Banks liquidity and resource mobilization strategy continues to deliver strong outcomes, optimizing the sourcing of funds across tenors via a balanced mix of term deposits, market borrowings, and refinancing.
The trading desk remains active across asset classes, interest rates, equities, foreign exchange, and commodities, and deploys strategic proprietary positions in government bonds, corporate debt, equities, interest rates (Rs and foreign currency), interest rate futures, and currencies, aligned with market dynamics.
The Foreign Exchange and Derivatives Trading desk focuses on currency and interest rate derivative products, balancing proprietary positions with its role as a market-maker and liquidity provider for client transactions. The desk is an active market-maker and executes various products across asset classes with established market counterparties and valued corporates.
The Equity desk manages proprietary investments in both primary offerings as well as trades in listed securities.
The Credit Sales desk offers end-to-end solutions to corporate and institutional clients looking to tap the debt capital market for raising short-term/long-term funds through various instruments such as bonds/non-convertible debentures (NCDs)/CPs, ZCBs, tax- free bonds, NCD cum warrants and other non-SLR instruments by acting as arranger and/or investor for primary NCD issuances. The team is also responsible for the placement of such securities across various institutional clients/investor segments such as mutual funds, insurance companies, pension and provident funds, banks, NBFCs, wealth managers, foreign portfolio investors (FPIs), corporates, alternate investment funds (AIFs), and family offices. The team undertakes products as permitted in the board-approved Funds and Investment Policy of the Bank.
The Financial Markets Sales and Solutions team provides customized hedging solutions to large corporations, financial institutions, mid-market corporations, and consumer clients on their foreign exchange and interest rate exposures. The Bank enters into these transactions based on strict suitability, appropriateness, and credit criteria. Besides the above OTC products, the Bank is also a trading-cum-clearing member of NSE and BSE, which enables it to offer a web-based platform to the various client segments for hedging their currency exposures in the exchange-traded currency derivatives market. The Financial Markets Sales and Solutions team also offers bullion solutions to clients on a consignment basis.
In FY2025, GMG continued to actively undertake proprietary and client hedges across FX, interest rates, derivatives, credit markets, and equity IPOs. The Bank expanded its reach in offshore markets through the Global Markets desk at its IBU in GIFT City. Further, it expanded its product basket to be offered by IBU as permitted under the new liberalized guidelines of IFSCA.
The Bank operates under robust, board-approved policies covering funds and Investment and Risk Management Policies, Client Suitability and Appropriateness Policy, and appropriate systems support to monitor transactions and risk on a real-time basis. Given the dependency on the system and Trading platforms, the Bank has conducted Business Continuity Plan drills regularly. With its Integrated Treasury Application, seamlessly linked to the Risk Monitoring System, the Bank ensures comprehensive coverage across all client and trading products of the global markets business and provides a seamless transaction flow.
11. Transaction Banking Group
The Banks Transaction Banking Group (TBG) offers a comprehensive range of products and services to its customers across all business units of the Bank. Its product offerings include Cash Management Services (CMS), Trade Services / Trade Finance solutions, and Global Remittance products. These products and services are delivered through various digital banking platforms offered by the Bank from TBG.
Under the CMS offerings, the Bank provides customized and differentiated products to its Corporate and Consumer Banking customers, facilitating their payables and receivables management. The Bank develops these solutions, both in-house as well as by partnering with external technology partners, enabling seamless payments, collections, and escrow solutions. The Bank continues to focus on key CMS offerings and has achieved reasonable success in collection solutions on NACH / e-NACH, BBPS BOU, UPI-based collections, and Escrow services. These product deliveries are API-based and well embraced by customers active in segments such as NBFCs, real estate, education, and renewable energy. Apart from these, the Bank has been an active enabler of capital market transactions, serving as an escrow banker for IPOs, rights issues, open offers, and other mandates. It continues to be one of the largest sponsor banks handling settlements for non-bank PPI issuers.
Beyond bespoke CMS solutions to its corporate clients, the Bank continues to expand its footprint in the government / PSU segment as well. The Banks Digital Banking platform is seamlessly integrated with the Government Payment System, IFMS, e-Tendering solution providers, GeM Portal, PFMS, and subsidy management platforms, thereby enhancing these flows vide CA and SA held with the Bank. In FY2025, the Bank also successfully integrated with the ICEGATE portal, facilitating customs duty, central excise, and service tax payments for its clients. This is after the Bank had enabled its customers to pay their income taxes and GST through their IndusInd Bank accounts, online as well as via the Banks branches. The Bank is also making progress towards integration with state treasuries for the collection of the States tax and non-tax receipts.
Building on the success of the QR based smart address system (digital door number) for a leading municipal corporation in the last financial year, the Bank replicated the success with other Panchayati Raj / Gram Panchayats, aiding Panchyati Raj departments with smooth disbursement and monitoring of funds as well as seamless integration with multiple satellite systems viz attendance module, project monitoring and ease in managing budgets.
The Bank offers an all-inclusive range of customized trade services and trade finance products designed to meet the requirements of Large, Medium, and MSME customers based in India and Gift City. Its Trade Product Suite includes Trade Services (A1, A2 transactions, Collections), Trade Finance (Factoring, LC Bill Discounting, Bill / Invoice Discounting, Buyers / Suppliers Credit, Pre / Post Shipment Export Finance) and other ancillary trade solutions for transactions involving ODI, FDI, Project Office / Branch Office / Project Office / Liaison Office, being undertaken by its clients. The Bank continues to be a significant player in India linked to Cross- Border Remittances, enjoying a significant market share facilitating LRS Outward Remittances from India, apart from being a preferred India Correspondent for Overseas Banks, Exchange Houses, and Money Services Businesses / Money Transfer Operators for their India-bound flows.
Digital platforms remain the backbone of the Banks Transaction Banking offerings, and the Bank continues to augment its capabilities in this domain. Clients embraced the Banks platforms for initiating their domestic as well as cross-border payments / trade transactions, with an increase in client adoption and transaction volumes across the web portals, mobile apps, and API platforms. The digital platforms offer rich functionality for clients to initiate individual and bulk payments, payroll processing, tax payments, EPFO payments, ESIC payments, management of Bank Guarantees, LC issuance, inward and outward remittances, and import and export collections. The platform also provides a comprehensive view of IDPMS / EDPMS Dashboards, as well as allows for the regularization of such transactions. The Bank is amongst the first cohort of banks to go live on digital trade initiatives such as Automated E-Stamping, Digital Document Execution, and end-to- end Electronic Bank Guarantee Issuance.
During the FY2025, the Bank witnessed an impressive growth under its Connected Banking offering, enabling clients to optimize their Tally ERP clients with the Banks online payment platform, namely Indus Direct. This integration has fast-tracked the client onboarding journey to a self-fulfilment model, with implementations being done in 15-20 minutes, in a completely digital manner.
IndusInd Bank is one of the founding members of IBDIC (Indian Banks Digital Infrastructure Company), a company formed by 18 Banks to promote the digitization of trade transactions using digital infrastructure.
During the financial year under review, the Bank successfully executed the first in-market export factoring transaction on the International Trade Finance Platform (ITFS) through GIFT City. The ITFS enables exporters and importers across the globe to avail of trade finance facilities at competitive terms for international trade transactions.
12. Client Management and Pan Bank Liabilities Group
The recently established Client Management Group Is a significant step towards advancing the Banks commitment to client-centricity.
Its objective is to build deeper, trust-based relationships with clients and drive sustainable, long-term growth. The group comprising the Decision Sciences Unit (DSU) and the Client Experience Unit (CEX), collaborates closely with key stakeholders from Business, Product, and Functional groups via the Client Value Enhancement Platform.
The group leverages Advanced Analytics and direct-to-client communication to engage clients and enable employees to have relevant conversations. Its focus is on facilitating a meaningful value exchange with clients across their lifecycle and delivering a superior and seamless service experience, towards our vision of becoming a trusted banking partner.
The new group focuses on enhancing client activation, engagement, cross-sell, retention, and win-back to boost client lifetime value.
Complementing this client-focused approach, the Pan Bank Liabilities Group (PBLG) drives the Banks liability strategy, championing the granularization and retailization of deposits. Granular retail and SBC deposits contributed ~59% of total deposit growth in FY2025, increasing the share of retail deposits in the Banks total deposit base and supporting our endeavour to build a resilient, trust-led liability franchise.
Together, the Client Management and Liabilities Group creates a dynamic ecosystem, aligning client engagement with sustainable liability growth and building a client-first institution that places clients at the heart of our decisions.
13. Financial Restructuring and Reconstruction Group
The Financial Restructuring and Reconstruction Group (FRRG) oversees all operations related to the recovery of non-performing loans, restructuring of stressed assets, and selling of NPA/stressed accounts for corporates. Additionally, the FRRG is entrusted with managing NCLT activities, including centralized and timely claim filing. To efficiently handle and monitor IBC-related activities, the FRRG has established a dedicated NCLT desk.
The Bank has also actively utilized the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDB Act) to recover dues of corporate cases. Additionally, the Bank is actively utilizing other tools provided by the Reserve Bank of India, such as the Prudential Framework for Resolution of Stressed Assets/Transfer of Loan Exposure/compromise settlement.
14. General Banking Operations
The Bank has consistently strengthened its policy framework regarding Know Your Customer (KYC) norms in compliance with regulations. It has implemented a simplified KYC procedure, enabling individuals from the Lower Income Group who can now open accounts with minimal documentation, aligning with RBI policy guidelines.
The Bank has introduced a state-of-the-art workflow and imaging system for various banking processes, including account opening, term deposit bookings, trade finance transactions, and branch expenses processing to enhance operational efficiency. This system enables faster turnaround times and real-time movement of work from branches to the central operations unit, eliminating courier- based delays. The implementation has resulted in improved branch efficiency and elevated client service standards.
With a focus on digitalization and e-KYC, the Bank has introduced digital account opening through a mobile application. This seamless process allows for straight-through account opening and online verification of KYC, reducing turnaround time and providing customers with greater convenience, along with enhanced controls and compliance measures.
The Bank has embraced the use of electronic KYC documents by the third amendment to the Prevention of Money-laundering Rules, 2005. Additionally, to facilitate the Customer Identification Process (CIP), the RBI has permitted a Video-based Customer Identification Process (V-CIP) as an alternate method for establishing customer identity during onboarding. As a result, the Bank rolled out a video- based customer identification process, allowing customers to complete their KYC verification and account opening procedures remotely, without the need for paperwork.
Participating in the Clearing through the Cheque Truncation System (CTS), the Bank has 2,650 branches covered under the Grid Clearing, with CTS Centers in Mumbai, Chennai, and New Delhi. It also engages in National Automated Clearing House (NACH) transactions, including Debit and Credit (ECS) transactions in Mumbai, as well as Aadhaar-based Payment System (ABPS) transactions through NPCI.
To ensure efficient claims settlement for deceased depositors, the Bank has established a comprehensive policy covering all types of deposits and lockers. The policy simplifies the settlement process, and the necessary forms are available on the Banks website.
The Bank has formulated a Deposit Policy outlining the guiding principles and terms and conditions governing various banking products and depositors rights. It has also developed a voluntary Fair Practice Code, setting standards for customer interactions across all branches.
The Bank promotes fair banking practices, provides information on customer service activities, and has also introduced the Citizens Charter. Additionally, it has implemented a Customer Compensation Policy, which ensures customers are compensated for any direct and actual losses resulting from service deficiencies, as mentioned in the policy.
The Bank has adopted an Unclaimed Deposit Policy based on RBI guidelines. This policy facilitates the classification of unclaimed deposits and defines a robust Grievance Redressal Mechanism for prompt complaint resolution and record-keeping. Balances from unclaimed deposits and other accounts are periodically transferred to the Depositor Education and Awareness Fund (DEAF) following RBI directives. The Banks website regularly uploads customer details related to unclaimed deposits.
The Bank has developed a Customer Rights Policy, which can be accessed on its website. Additionally, it has implemented a Customer Protection Policy based on RBI guidelines to provide a safe, reliable, transparent, and superior service experience. This policy addresses customer complaints regarding unauthorized transactions conducted through electronic channels, defines criteria for determining customer liability in different circumstances, and enhances customer awareness.
Customer centricity is one of the core values of the Bank. It promotes a fair and equitable relationship between the Bank and the customer. Every customer is treated fairly and does not discriminate against customers on any grounds such as gender, age, religion, caste, literacy, economic status, or physical ability.
The Banks endeavour is to provide customers with hassle-free and fair treatment at all times. The Bank is also sensitive to the needs of certain customer segments to ensure seamless access to the Banks products and services to such segments. This does not tantamount to any unfair discrimination.
To cater to the needs of differently abled customers, IndusInd Bank has facilitated ATMs with talking facilities, and all our ATMs are braille-enabled. IndusInd Bank and ATMs also have ramp facilities, making them accessible for differently-abled customers. Further, the Bank offers doorstep banking services for senior citizens and differently abled individuals, ensuring that accessibility is not just a promise, but a standard.
15. Corporate and Global Markets Operations
15.1 Corporate and Global Market Operations (CGMO)
Corporate and Global Markets Operations (CGMO) plays a key role in delivering a comprehensive suite of services to both corporate and retail clients, including Trade Services, Supply Chain Finance, Cross-Border Remittances, Cash Management, Foreign Exchange, Derivatives, Bullion, and Depository Services. CGMO continues to be focused on strategic execution, underpinned by continued investments in advancing digital transformation, operational efficiency, and talent development.
A strong commitment to innovation through process automation and digital solutions has led to improved turnaround times, accuracy, and client experience. At the heart of these advancements is a skilled workforce, continuously strengthened by ongoing training, cross-functional collaboration, and a culture rooted in ownership. With a proactive approach to risk management and regulatory compliance, CGMO remains well-positioned to scale its offerings, ensuring long-term growth and a future-ready, client- centric business model.
15.2 Customer
Underpinning our customer-first philosophy, the year saw multiple initiatives aimed at elevating service delivery, driving convenience, and reinforcing trust across every touchpoint. Strategic optimization of cash and cheque pickup structures for marquee clients helped streamline collections and enhance reliability, directly contributing to improved client experience, positioning the Bank for sustainable growth in cash management. A key highlight was the formation of the Trade Digital Servicing team, designed to act as a seamless bridge between customers and the processing unit, focusing on resolving queries, ensuring service continuity, and supporting a frictionless digital experience for transactions raised via Connect Online.
Furthering our commitment to innovation-led service, outward remittances for AD-II payments were automated through advanced RPA, enabling 24x7 processing, ensuring service scalability and continuity, aligning with regulatory standards while optimizing internal resources. The Capital Markets team demonstrated exceptional execution capabilities by processing 534 IPOs during the year, reflecting a 25% increase over the previous year, reaffirming the Banks leadership and reinforcing trust among market participants.
Throughout the year, our customer engagement model evolved meaningfully, with consistent outreach and strengthened client service improvements, which led to a notable improvement in customer sentiment, as reflected in rising Net Promoter Score (NPS). Sustained focus on building long-term relationships and delivering differentiated client experiences aligned with client expectations.
15.3 People
People remain at the core of CGMOs continued success. Focused investments in technical and behavioural capability building were made across all levels. Flagship initiatives like Ownership and Accountability and the domain-focused Skill Quest program have reinforced a culture of responsibility, enhanced functional expertise, and ensured the workforce remains agile and future-ready, well- aligned to evolving client needs and regulatory expectations. Regular engagement activities/initiatives, recognition through Insta Achiever Awards, have further strengthened morale and collaboration across CGMO.
15.4 Capability enhancement
CGMO strengthened its client experience and operational efficiency through technological upgrades and automation. Further, enhancements to the Cash Management Services (CMS) platform enabled faster bulk processing, real-time validations, and improved transaction accuracy - elevating service standards. Moreover, Digitized Bank Guarantee workflows via iTrac have streamlined processes, enhanced controls, resulting in a more efficient, end- to-end digital experience. This also lays the groundwork for future integrations, including the GIFT City ecosystem.
Additionally, integration using Robotics Process Automation (RPA) with SWIFT and SFMS systems streamlined internal processes, strengthened controls, and delivered consistent operational excellence, advancing the Banks digital transformation and efficiency agenda.
15.5 Risk
CGMO upholds robust risk governance through a well-defined Risk and Control Self-Assessment (RCSA) framework. All key processes are comprehensively covered, with well-defined Key Risk Indicators (KRIs) supporting early risk identification and effective mitigation. The approach remains agile and forward-looking, with controls regularly strengthened to align with evolving regulatory norms and operational complexities.
Looking ahead, CGMO remains committed to investing in digital innovation, improving service delivery, and strengthening internal capabilities. With a clear focus on client centricity, automation, and compliance, CGMO is well positioned to support the Banks growth agenda and uphold the highest standards of operational performance.
15.6 Awards:
IndusInd Bank was honored with the Operational Excellence Award by leading Nostro Banks, recognizing the exceptional transaction processing quality demonstrated by the Trade and Remittance Operations team. The award acknowledged the teams consistently high Straight-Through Processing (STP) rate for payment messages routed from IndusInd Bank to Nostro partners, reflecting a strong commitment to efficiency, accuracy, and service excellence.
16. Branch Network and Infrastructure
The Bank has established a robust nationwide presence with 3,081 banking outlets and 3,027 ATMs, ensuring a presence in all 28 States and six out of the eight Union Territories. To cater to offshore banking operations, the Bank has an International Banking Unit (IBU), located at the Gujarat International Finance Tec-City IFSC (GIFT City). Furthermore, representative offices are operational in key international locations such as London, Dubai, and Abu Dhabi.
In addition to widening its network across India, the Bank has introduced 15 PIONEER branches in prominent locations. These branches are situated in Mumbai (Juhu, Pedder Road and Lower Parel), Pune (Koregaon Park and Ghole Road), Delhi (Defence Colony and Punjabi Bagh), Gurugram (Palm Springs), Chandigarh (Sector-9), Kolkata (AJC Bose Road), Chennai (R. K. Salai Road), Bangalore (Church Street), Jaipur (Malviya Marg), Ahmedabad (Corporate Road) and Noida (Sector 27 Noida).
The Bank operates six strategically located currency chests in Mumbai, Delhi, Chennai, Kolkata, Bengaluru, and Chandigarh to facilitate efficient currency management.
17. Information Technology
The information Technology (IT) department has been instrumental in driving indusind Banks technology modernization, accelerating the digital transformation, and ensuring the seamless operation of its technological infrastructure with a dedicated focus on enhancing resiliency, optimizing system performance, and implementing innovative solutions to elevate customer experience and operational efficiency. in FY2025, the Bank accelerated its technology-led transformation with strategic investments across core systems and digital channels. Our quest for excellence, marked by the introduction of innovative products and services, ground-breaking new launches, and pioneering industry-firsts, has yielded remarkable results. innovative advancements in technology solutions provided customers with secure, convenient, and reliable digital platforms, ensuring a seamless and trustworthy digital experience.
Reflecting on the past year, we proudly present a summary of our significant achievements and strategic initiatives:
- End-to-end digital transformation and introduction of innovative products and services, leading to remarkable operational efficiency.
- Strategic investments in cutting-edge technology for a secure and reliable Core Banking platform, fuelling the Digital Transformation of Customer Experience for Channel Applications.
- Transformation of the legacy data warehouse into a modern public cloud-hosted Enterprise Data Platform.
- Significant enhancements in cybersecurity framework to ensure data privacy and protection.
During the year, the Bank revamped its core banking infrastructure, upgraded its treasury systems, and scaled its UPI platform to drive higher levels of operating efficiency while a transactional fraud prevention solution employing machine learning and rules with a highly efficient alert management capability was introduced for transaction monitoring across branches, channels, and payment products.
To unlock a deeper value from data and gain a competitive edge, the Bank has transformed its legacy data warehouse into a modern Enterprise Data Platform using Data Lakehouse architecture on the public cloud, optimized for Generative Ai. This transformation involved defining the data ecosystem, establishing data governance, and implementing technologies to ensure data quality, security, observability, DevSecOps, and accessibility for various applications, including analytics, Ai, and machine learning. The platform enables real-time data analytics, providing seamless data-driven intelligence for faster business decisions and accurate regulatory reporting.
Maintaining its commitment to security and data privacy, the Bank reinforced its cybersecurity infrastructure. This refinement includes the implementation of micro-segmentation, deployment of identity and Access Management (iAM) systems, Endpoint Detection and Response (EDR) solutions, and Security information and Event Management (SiEM) systems. By implementing micro- segmentation on critical applications, the Bank can enforce granular security policies tailored to specific applications and data types, significantly enhancing the overall security posture. Additionally, the Bank has implemented robust firewalls, intrusion detection and prevention systems (iDS/iPS), and multi-factor authentication (MFA) to ensure comprehensive protection against cyber threats.
Modernization initiative for Scalable, Resilient, and Secure Core Banking & Payments Platforms
- Highly Available and Scalable Core Banking System
Core Banking processed the highest number of transactions during FY2025. Finacle has been migrated to a highly available deployment end-to-end across all layers/tiers of Finacles architecture across production and DR sites. Daily/quarterly batch jobs performance has been improved by 200-300%.
- Modern UPI Payment Processing Platform
The Bank successfully migrated to a public cloud-hosted UPi platform, engineered for stability, scale, and availability. This platform is architected by containerized micro services, in-memory caching-enabled, with an uptime of five nines (99.999%). This platform reduces UPi payment transaction processing time to 400 milliseconds per transaction (nearly 12- fold improvement in processing time) and enables real-time automated reconciliation within every 10 minutes post NPCi settlement cycle. its fail-safe architecture ensures a recovery time objective (RTO) of 5-7 minutes for switchover to disaster recovery (DR) and near-zero data loss/recovery point objective (RPO). This migration is expected to yield significant cost savings for high-volume payments.
- Launch of Wealth Management Platform
A new platform for wealth management products has been implemented to improve the CASA/Liquidity Management, Customer Stickiness, taking care of the diverse investment management needs of digital customers. This platform optimizes investment processes, enhancing client experiences, and driving business growth. This solution facilitates deepening client relationships using intelligent automation and hyper- personalized engagement.
Built Better Data Platforms with Data Engineering Patterns and Practices
- Launch of Enterprise Data Platform
The Bank launched an advanced Enterprise Data Platform built on medallion architecture, hosted on Public Cloud with real- time data ingestion frameworks in place to bring data from source systems in near-real-time, along with Data Quality and Data Governance, Data Observability, and DataOps built-in as platform features. This Platform will serve the advanced data analytics needs for regulatory, fraud and credit risk modelling, and Generative Ai-enabled Decision Sciences and Customer Experience for Consumer/Corporate/Transaction Banking. This platform aims to provide self-service Bi capabilities, real-time behaviour analytics, improved decision-making, product optimization, drive hyper-personalization, and real-time engagement through the integration of about 100 source systems across various business functions, generating 1.5 Petabytes of data volume. By leveraging cutting-edge technology, the Bank seeks to strengthen its digital transformation and maintain a competitive edge in the financial sector.
- Microfinance data on the Data Platform
indusind Bank implemented a public cloud-hosted Data Lakehouse for BFiL /microfinance business unit for a 360? view of the total customer base and predictive models can be built on top of it while ingesting data from every stream of the microfinance business. This Data Platform is designed to host both structured and unstructured data within a multi- layered architecture. Featuring robust data governance and a self-service-enabled data mart, this platform ensures efficient and secure data management.
Generative AI Adoption by Technology for DevSecOps
The Bank has successfully rolled out DevSecOps across all its critical applications, including Core Banking System - Finacle. It also ensures best-in-class code quality practice through MS Co-Pilot powered GenAI-driven DevSecOps framework, developing applications with secure coding standards and compliance. Achieved continuous delivery with DevSecOps, agile culture, modern architecture, infrastructure automation, and pervasive security.
Modernization of Technology Infrastructure and End User Compute
- Staff Productivity and Collaboration Solution
The Bank has successfully deployed a Staff Productivity Solution (O365), which includes uniform email and staff collaboration tools, as well as secure mobile device-based email and collaboration tools. This implementation enables quicker access to customer information, facilitating faster responses, making staff members more effective and proficient, and ensuring reliable service across all channels.
- Network Modernization
The Bank has modernized its network by implementing a Software Defined Branch Network (SD-WAN), ensuring high availability, scalability, enhanced stability, and superior performance. This modernization enhances the reliability of services provided to customers by the branch staff at
Technology Awards
The Bank won various industry-leading accolades, reflecting the exceptional caliber of delivering modern, cutting- edge, resilient, and innovative technologies across key categories such as Core Banking, Digital Lending, UI/UX, and Generative AI:-
- Infosys Finacle Innovations Award 2024
IndusInd Bank received recognition at the Infosys Finacle Innovation Awards 2024. The Bank was honored as a Platinum winner under the category Maximizing Customer Engagement. It highlights the Banks unwavering commitment to Inspire Better Banking through innovative strategies and initiatives, setting it apart and creating unparalleled value for customers, employees, investors, and the broader community.
- IBS Intelligence Global FinTech Innovation Awards 2024
The award is recognized to identify and honor the most innovative and impactful technology implementation projects at a digital arm of traditional banks, Neobanks, and Challenger Banks around the world. IndusInd Bank was recognized for Customer and Program Impact at the Annual IBSI Digital Banking Awards for its Digital Banking initiatives.
- Finnoviti Awards 2024
At the 13th edition of the Finnoviti Awards 2024, IndusInd Bank was bestowed recognition for its IndusInd Mobile Banking App - Indie. This accolade cements the Banks reputation as a leader in pioneering cutting- edge solutions. branches, offering secure and improved connectivity across multiple locations for various core banking services, branch performance MIS/dashboards, and CRM applications.
Innovations in UI/UX and customer delight by leveraging cutting-edge technology
- Mobile Banking for GIFT-City Customers
Launched an exclusive digital channel for individual International Banking clients at IndusInd Bank GIFT City, enabling seamless online transactions in foreign currency. This initiative enhances the overall customer experience by providing a consistent and efficient digital platform.
- Revamp of IndusNet
The IndusNet platform has been comprehensively revamped, leveraging its micro services architecture and cloud-ready containerized solutions to offer a consistent experience to the customers across mobile and net channels through a secure, resilient, scalable, and cost-effective channel for enhanced engagement.
- Digital MSME app
The Bank has launched INDIE Digital Banking for MSME clients, revolutionizing their banking experience with a seamless digital platform. Fully integrated with the banking ecosystem, including ONDC, Udyam, and OCEN, this platform caters to new customer segments such as gig creators and homepreneurs, ensuring ease of use and exceptional service.
18. Human Resources
IndusInd Bank has once again earned the prestigious accolade of being recognized as a Great Place to Work by the renowned Great Place to Work? Institute, a global expert on workplace culture. The Bank has achieved this esteemed certification for a remarkable third consecutive year in a row, which emphasizes the Banks dedication to building a workplace anchored in credibility, respect, fairness, pride, transparency, and a strong sense of camaraderie.
The Bank has an unwavering commitment to nurturing human capital, the lifeline of its success. The Bank fosters a performance- driven culture rooted in fundamental values of respect for both employees and customers, superior customer service and delight, compliance, and governance.
The Human Resources agenda at IndusInd Bank focuses on providing a positive work experience to its employees by prioritizing strategic priorities like succession planning, talent development, employee engagement and retention, digitization, employee welfare, and wellness programs. The Human Resources function plays a pivotal role in business performance and growth. The results are manifested in terms of higher employee retention, improved employee productivity, improved diversity and inclusion quotient, and stability within the strategic business leadership layers.
Key Highlights
1. Employee Headcount
IndusInd Bank remains committed to upholding the principles of an Equal-Opportunity Employer. The Bank continues to draw in top-tier talent to remain competitive and a formidable player in the market. This approach is aligned with the ongoing market trends while ensuring commitment to diversity and inclusion objectives.
As of March 31, 2025, the Banks workforce reached 44,974 employees, powering new business ventures, fulfilling critical and specialized roles, and supporting its expanding branch network, laying the foundation for sustained success.
2. Diversified Hiring Channels
The Bank diversifies its recruitment efforts to attract a diverse pool of talent. The Bank uses various hiring channels, including employee referrals, job portals, recruitment consultants, campuses, and social media platforms like LinkedIn and Facebook. By leveraging social media, the Bank appeals and engages with target audiences, showcasing its employer brand to attract industry experts and senior leaders. Employee referral programs act as a powerful brand endorsement. Additionally, the Bank employs an innovative Hire-Train-Deploy model, collaborating with industry and academic partners to bolster frontline sales recruitment. Through campus-to-corporate initiatives, fresh talent is ushered into vibrant career paths within the Bank.
3. Robust Succession Planning
The Bank takes a proactive and structured approach to succession planning, emphasizing the seamless transition of leadership to maintain business continuity. By nurturing internal talent, the Bank diligently prepares future leaders for upcoming roles. This comprehensive exercise includes onboarding both external and internal candidates into leadership positions and also actively nurturing potential successors to build a resilient leadership pipeline.
4. Focus on Learning and Development
The Bank champions a culture of continuous capability building to meet its business goals, blending e-learning with virtual classroom learning initiatives. The Bank crafts personalized learning journeys featuring gamified e-learning, leadership training, domain courses, and mandatory domain and regulatory certifications.
The Bank follows a structured learning process that encompasses identifying learning needs, devising learning plans, conducting digital classroom sessions, and providing periodic feedback to improve learning effectiveness.
In FY2025, the Bank conducted over 16 lakh learning man- hours, focusing on areas about leadership, managerial effectiveness, sales and customer focus, banking products, risk management, operational processes, and orientation programs. The Bank is actively leveraging its Mobile learning app Indus Evolve, which has contributed to make learning accessible, scalable, and cost-effective.
5. Performance Management
The Bank adheres to a robust performance management process, ensuring alignment with the Banks strategic objectives through Key Result Areas (KRAs) and SMART (Specific, Measurable, Achievable, Relevant, Time-bound) objectives. Compliance, Team development, and retention goals are integrated into the employees SMARTs, with goal weightages customized to the individual roles.
During FY2025, regular performance feedback sessions provided a platform for addressing performance challenges and boosting both efficiency and productivity. This communication process involved setting clear performance expectations, defining measurable objectives, establishing performance metrics, offering consistent and periodic feedback, and reviewing results and outcomes thoroughly. The performance appraisal for FY2024, released in FY2025, was directly linked to the achievement of these tangible performance objectives and was linked to the employee appraisal decisions.
6. Attracting, Rewarding, and Retaining Talent
The Bank pursues a compensation philosophy of rewarding its employees based on performance and embraces a Pay for Performance and role criticality approach.
The Bank strives to be a competitive paymaster by offering market-aligned, performance-driven compensation along with long-term incentives such as Employee Stock Ownership Plans (ESOPs), in line with the industry standards. To encourage loyalty and growth, the Bank emphasizes retention strategies that promote professional development, dynamic career progression, work-life balance, and opportunities for job rotation, empowerment, and autonomy. Additionally, the Bank remains fully committed to complying with all regulatory guidelines related to compensation.
7. Employee Connect & Engagement
The Bank is dedicated to fostering an inclusive and dynamic work environment that thrives on the diverse insights of its employees, fuelling innovation and collaboration. The Bank is committed to strengthening employee engagement and welfare through a range of initiatives. The MD and CEO lead quarterly webcasts, set the strategic agenda focusing on performance, compliance, governance, integrity and discipline, ensuring employee alignment.
Initiatives such as We Connect, Coffee Connect, and Appreciation Day serve as platforms for resolving grievances, celebrating achievements, and bolstering employee retention. The Bank also celebrates International Womens Day, regional festivals, and organizes sports events to cultivate a vibrant and strong employee community across all its locations.
The Bank recognizes the contributions of long-serving employees by presenting service awards at key milestones. To support employees throughout their journey, it closely monitors their experience through the Life Event Assistance Program (LEAP), fostering satisfaction and encouraging growth at every stage. The Bank also collects real-time feedback through welcome calls, extended experience check- ins, service anniversary celebrations, and exit interviews. This continuous engagement is aimed at enriching the employee experience and improving workplace practices.
8. Employee Welfare and Digitization
The Bank remains steadfast in its dedication to champion employee well-being, offering a range of curated benefits like paternity leave, career guidance for employees children, volunteering leave, and policies aimed at empowering women. Through the Employee Welfare Fund, the Bank provides financial support to the families of deceased employees.
Embracing digital transformation, the Bank strives to implement benchmark and innovative approaches to enhancing employee life-cycle processes. The Bank has rolled out numerous digital initiatives, including seamless digital onboarding, a Chatbot for employee query resolution, online staff account setup, a dynamic career platform, a cutting-edge learning management system, and mobile app-driven employee processes to augment employee life- cycle processes.
The Bank also ensures compliance with all regulatory and statutory norms in its employee processes and promotes employee adherence to the Banks Code of Conduct through education and awareness programs.
Today, Induslnd Bank stands out as a coveted employer within the industry. The Bank is committed to advancing employee equity with market-benchmark policies, striving to be perpetually recognized as a Great Place to Work.
19. Employees Stock Option Scheme
On September 25, 2020, the shareholders of the Bank approved the Induslnd Bank Employee Stock Option Scheme 2020 (ESOS 2020), which comprehensively replaced the erstwhile Employee Stock Option Scheme 2007 (ESOS 2007) approved by the shareholders earlier on September 18, 2007. ESOS 2020 enables the Board and the Compensation Committee to grant several stock options of the Bank that do not exceed 7% of the aggregate number of paid-up equity shares of the Bank, in line with the guidelines issued by the SEBI. The options vest at one time or at various points as stipulated in the Award Confirmation issued by the Compensation Committee, and there shall be a minimum period of one year between the grant of the option and the vesting of the option. The unvested options shall expire by such period as stipulated in the Award Confirmation or five years from the grant of options, whichever is earlier, or any further or other period as the Compensation Committee may determine. The exercise price for each grant is decided by the Compensation Committee, which is normally based on the latest available closing price and shall not be lower than the face value of the shares. Upon vesting, the options have to be exercised within a maximum period of five years or as may be determined by the Compensation Committee from time to time. The stock options are equity-settled, with the employees receiving one equity share per stock option.
Under the Composite Scheme of Arrangement with the erstwhile Bharat Financial Inclusion Limited, the shareholders of the Bank approved the IBL Special Incentive ESOS for BFIL Merger 2018 (ESOS 2018) on December 11, 2018.
ESOS 2018 was established with a pool of 57,50,000 equity-settled options. Half of the options vest over three years from the grant date, while the remaining options begin to vest over three years starting from the first anniversary of the grant date. Once vested, the options must be exercised within a maximum period of five years.
20. Risk Management
Management of risks inherent to the banking business is essential for sustainable growth. Given the diverse range of risks that banking is exposed to, it is vital that these are accurately measured, continuously monitored, and efficiently managed. A strong Enterprise-wide Risk Management (ERM) framework enables precise risk assessment and supports timely, effective mitigation across risk categories, while facilitating business expansion. The ERM framework also plays a key role in preserving earnings quality and stability, ensuring alignment between risk appetite and business strategy.
The Bank has an integrated Risk Management department, independent of business functions, covering Credit Risk, Market Risk, Assets-Liabilities Management (ALM), Operational Risk Management, and Business Continuity Management (BCM). The Banks risk management practices are aligned with best industry practices and are adaptable to a dynamic operating environment and market conditions.
Credit Risk Management
Credit Risk is managed both at the transaction and portfolio levels.
The primary objective of Credit Risk management is to preserve credit quality within the defined risk appetite while ensuring adequate returns for the risks undertaken. The Bank employs several measures adopted for the management of Credit Risk are mentioned hereunder:
- Credit risk policies are aligned with business strategies and defined risk appetites. They are maintained in alignment with changes in RBI guidelines and the economic environment.
- Credit Risk at the time of credit assessment is gauged using risk- rating models implemented for different business segments.
- Credit Portfolio Management Analysis monitors credit quality, portfolio composition, concentration risk, yield v/s risk, and business growth.
- Credit quality is measured and monitored regularly using the portfolios Weighted Average Credit Rating (WACR).
- Prudential internal exposure limits prescribed for assuming exposures on counterparties (linked to the internal rating of borrowers), industries, sectors, and more.
- Monitoring of the credit quality of Vehicle Finance portfolios using Behaviour Scorecards.
- Sector reviews are carried out to assess and evaluate potential risks and stress within such sectors, analyze the impact of stress on portfolio health, and take proactive actions to mitigate such risks.
- Management of exposures to counterparty banks and countries by setting exposure limits based on their risk profiles and monitoring such exposures regularly.
- Stress Testing of Credit Portfolios is carried out periodically to measure the shock-absorbing capacity under multiple stressed scenarios and assess the impact of potential credit losses on profitability and capital adequacy, thus enabling the initiation of appropriate risk mitigation measures.
- An Early Warning Signals (EWS) system has been implemented at the Bank to monitor EWS alerts in borrowers accounts as a post-disbursement monitoring mechanism, as necessitated by regulatory requirements.
- Independent of business and credit, the Corporate Banking Audit Domain within the Internal Audit Department tracks post-disbursement weaknesses developing in the account and initiates corrective measures in time.
The Bank leverages advanced technology and digital solutions, particularly in retail loans, to optimize credit underwriting process ensuring efficiency, accuracy, and faster turnaround. Our credit risk models enable swift and objective credit declslonlng. The Bank is also using data analytics techniques to identify early stress in accounts to ensure proactive risk mitigation measures.
Backed by disciplined credit risk practices, our secured retail assets portfolio has shown resilience and achieved robust growth with minimal risk cost, reflecting our commitment to stringent credit standards and selective, high quality asset growth.
Moving forward, we will continue to harness digital transformation to deliver a superior customer experience, optimize operational processes and reinforce our market leadership, all while uploading our core principles of balanced growth and robust risk management.
The Bank operates a system-based platform that supports the computation of Credit Risk Capital charges, allowing it to manage regulatory evolution and high-volume growth within optimal processing timelines.
During the year under review, the Bank maintained the asset quality of its portfolio. Notably, the Weighted Average Credit Rating (WACR) of the Credit Portfolio improved. The Bank has always strived to maintain a balanced mix of Corporate and Retail loan books.
To deepen customer engagement and capture a greater share of wallet, the Bank has been expanding its range of retail products and their variants. These offerings are governed by structured product programs tailored to each business vertical and approved by designated committees. These programs outline detailed criteria for customer selection and underwriting. Furthermore, key metrics for each portfolio are reviewed and monitored at regular intervals.
The Bank has also implemented model-based lending for various retail products to sharpen customer underwriting and selection. These models are further tested and enhanced at periodic intervals.
Retail products also have dedicated risk units with specialized skill sets to prevent frauds/risks, etc.
Retail portfolios are well diversified across geographies and customer segments to mitigate concentration risk. Portfolio analysis of retail products is carried out at regular intervals to ensure credit quality, concentration risk, yield v/s risk, and business growth.
The Bank follows a comprehensive Model Risk Management framework for validating its models. Model validation is a structured process aimed at confirming that models are functioning as intended and meeting their design objectives and business applications. This involves a range of statistical and technical evaluations, both quantitative and qualitative, to assess model performance and ensure reliability:
- provide independent verification of the models outputs and performance to enhance the reliability and robustness of the model;
- thoroughly assess the models accuracy and effectiveness, and ensure that the model is compliant and meets the regulatory requirements;
- help to identify whether the model is over fitted or under-fitted, which can lead to misleading predictions and unreliable results;
- help to identify any shortcomings or limitations in the model and provide a more unbiased evaluation of its performance;
- identify any potential errors or inconsistencies in the model inputs, assumptions, and calculations.
Market Risk Management
Market Risk refers to the potential loss to the Bank due to fluctuations in market variables, such as interest rates, exchange rates, equity prices, and risk-related factors, such as market volatility.
The Bank manages market risk in trading portfolios through a robust Market Risk Management Framework as outlined in its Market Risk Management Policy.
The Bank has a Market Risk Management System (SAS) complemented with the Treasury system Calypso, which supports monitoring risk parameters and sensitivities, including computation of Market Risk capital charge. The Market Risk Management system supports advanced risk measurement functionalities for proactively managing risks. The system supports monitoring of Value-at-Risk (VaR) limits, including Back Testing, Risk Sensitivity limits such as PV01, Greeks (Delta, Gamma, Vega) for Forex, Investments, Equity and Derivatives portfolios, besides Stop-Loss limits, Exposure limits, Deal-size limits, etc. Valuation of all portfolios is undertaken daily, and the risk sensitivities are also monitored daily.
Asset-Liability Management
The Banks Asset-Liability Management (ALM) system covers all assets and liabilities and supports effective management of liquidity risk and interest rate risk.
- Liquidity Risk is managed through Liquidity Coverage Ratio (LCR), Structural Liquidity Gaps, Liquidity Simulation, Dynamic Liquidity monitoring, Net Stable Funding Ratio, Liquidity Ratios analysis, and behavioural analysis of liabilities and assets using advanced measurement measures. Risk values, mismatches under various time buckets, and liquidity ratios are monitored against regulatory and prudential limits prescribed under the Asset and Liability Management Policy.
- Interest Rate Sensitivity is monitored through prudential limits for Rate-Sensitive Gaps, Earnings at Risk, Modified Duration of Equity, and other risk parameters.
- Interest Rate Risk on Trading Portfolios is monitored daily through Market Risk Measurement tools such as VaR, PV01, and other risk sensitivities. The Market Risk Measurement parameters assume optimal risk to balance risk containment and profit generation from market movements.
The Asset-Liability Management Committee (ALCO) receives in- depth analyses on key financial indicators, including liquidity position, interest rate risk, product mix, budgeted versus actual business growth, and interest rate outlooks. ALCO convenes regularly to review and deliberate on these aspects, evaluating liquidity conditions and interest rate exposures while aligning business strategies accordingly.
ALCO provides strategic direction to business units to ensure effective liquidity management in line with business objectives. The Bank monitors its structural liquidity position, Liquidity Coverage Ratio (LCR), and other key liquidity metrics on a daily basis to ensure cost-efficient liquidity management.
Stress Testing - Liquidity Risk
The Bank conduct periodic stress testing of its liquidity position to evaluate the impact of adverse scenarios on its funding and liquidity profile. These stress tests enhance the Banks preparedness to navigate stressed conditions and support the development of contingency funding plans.
Regular stress tests are carried out by the Bank to assess the potential implications of internal and external shocks on liquidity under various scenarios, each with different levels of severity. The results of these stress tests are presented to the Asset-Liability Management Committee (ALCO) for discussion. Based on these findings, ALCO provides guidance and direction for proactive management, ensuring that the Bank maintains a robust approach to managing potential risks.
Contingency Funding Plan
The Bank has established a Contingency Funding Plan (CFP) to enable a swift and structured response to anticipated or actual stress in market conditions. This Plan is periodically reviewed and updated to reflect changing market dynamics.
The Bank reviews its contingency plans considering evolving market conditions. The CFP covers monitoring internal and external contingency triggers, categorized into Yellow, Amber, and Red. The CFP mentions the available sources of funds to supplement cash flow gaps in the event of stressed scenarios. The CFP prescribes the conditions-based contingency triggers for assessing liquidity position and invoking the contingency plan if deemed appropriate.
Roles and responsibilities of the Contingency Management Group constituted under the CFP have been well-defined to facilitate the effective execution of contingency plans in the event of the invocation of a contingency plan. The Bank carries out CFP testing to assess the effectiveness of the plan.
Interest Rate Risk on Banking Book
Interest Rate Risk on Banking Book (IRRBB) arises primarily from (i) Re-pricing Risk, (ii) Optionality, (iii) Basis Risk, and (iv) Yield Curve Risk.
From an economic value perspective, the Banks policy aims to minimize sensitivity of its asset and liability base to interest rate movements. Interest Rate Risk is measured based on the repricing behaviour of each item under asset, liability, and off-balance Sheet products.
The Banks Assets and Liabilities Management Policy has laid down tolerance limits based on the risk appetite and the impact on NII and the Economic Value of Equity (EVE) for a given change in Interest Rate.
The Bank has put in place the necessary framework to measure and monitor Interest Rate Risk in Banking Books using the Duration Gap Approach as well as the Traditional Gap Approach.
Operational Risk Management
Operational Risk refers to the risk of loss resulting from inadequate or failed internal processes, people, systems, or external events.
The Operational Risk Management Policy outlines the Banks approach to managing operational risk and defines the roles and responsibilities of the various stakeholders within the Bank.
The Bank has implemented several operational risk measurement and monitoring frameworks for managing operational risk. In addition to the above, the Operational Risk Management framework effectively manages operational risk through several internal committees, viz., the Operational Risk Management Committee (ORMC), the Fraud Risk Management Committee, and the BCM Steering Committee.
To strengthen its Operational Risk Management Framework, the Bank implemented an Enterprise Governance, Risk, and Compliance (EGRC) system. This system has the following key components:
- Incident Management Module enables reporting and managing incidents (i.e., operational risks and fraud incidents), Root Cause Analysis (RCA), internal escalations, action plans, and resolutions, which helps appropriate actions towards mitigating such risks.
- Key Risk Indicator (KRI) Module enables reporting, monitoring, tracking, and trend analysis of Key Risk Indicators. It has been designed to generate periodic reports for respective units and provide the KRIs to function heads, department heads, and business heads for necessary actions towards the mitigation of such identified risks.
- Risk and Control Self-Assessment (RCSA) module provides a single platform that identifies operational risks, records such risks, and assesses residual risks effectiveness/adequacy of corresponding controls. RCSA module shall progressively reinforce the assessment of operational risks and their mitigation. The system generates the status of operational risks, associated controls, and a Heat Map and Risk Index for concerned stakeholders (Operation Heads, Department Heads, Business Heads) to take appropriate action towards risk mitigation.
Operational Risk Stress Testing Framework
To enhance the forward-looking capabilities of its Operational Risk Framework and evaluate resilience under stress conditions, the Bank has established an Operational Risk Stress Testing Framework. This framework covers a variety of operational risk scenarios, with stress tests conducted to assess their potential impact on the profitability and capital adequacy of the Bank.
As per the RBI guidelines, the Bank has been following the Basic Indicator Approach for the computation of capital charges for Operational Risk.
20.1. Systems Risk
The Bank places strong emphasis on maintaining a secure technology infrastructure and safeguarding its underlying applications and data. It leverage leading Information Security capabilities to ensure the confidentiality, integrity, and availability of information while proactively adapting to evolving threats. The Bank remains committed to continuously enhancing its security posture and protecting customer data.
The adoption of the ITIL framework and ISO/IEC27001 standards by the Bank is indicative of its focus on maintaining the best in industry standards of information security. These globally recognized and proven standards guide the implementation of best practices and tools for managing and monitoring technology functions. This has enabled the Bank to identify and manage technology-related risks and ensure compliance, business continuity, security, and privacy by implementing a globally accepted framework.
The Banks data centres, IT and support functions are certified to the ISO27001:2022 standard, a globally recognized Information Security Management System (ISMS). The Banks commitment to these standards assures its customers that it values their data privacy and takes appropriate measures to protect their sensitive information. These standards help the technology teams align themselves with the business needs, which helps map the processes correctly with clear roles and responsibilities.
The Bank has a Board-approved Information Security Policy and Cyber Security Policy and a Board-approved Cyber Crisis Management Plan in place. These policies guide the Bank in mitigating the risks from cybersecurity incidents by providing complete coverage for responding to various cybersecurity incidents effectively and efficiently. This establishes the Banks cybersecurity resilience vision. The ISO27001:2022 framework defines consistent approaches during various stages of detection, identification, containment, eradication, and recovery from specific cybersecurity incidents. The Bank follows a Board- approved Privacy Policy that guides it in protecting the privacy of its customers confidential information.
The Cyber Security Department identifies risks and vulnerabilities across various applications and solutions implemented in the Bank, which helps secure critical information and enforcement activities related to information and cybersecurity. Various other departments, divisions, and groups of the Bank assist in implementing information and cybersecurity practices.
IndusInd Bank has a robust and resilient IT network infrastructure comprising servers with a guaranteed 99.98% uptime. IndusInd Bank has a DR site and 1 Gbps connectivity between the DC and DR Centre. This enables the Bank to handle a huge volume of transactions.
IndusInd Bank and its branches within India and across the globe are very highly dependent on Information and Communication Technology (ICT) to deliver various services to its customers, members, corporates, governments, etc.
The Banks security framework blends on-site and off-site resources to provide security services. The Bank has implemented industry- leading security solutions such as SIEM, Anti-phishing, Anti-malware, DDoS protection services, web application firewalls, and more. The Bank has also implemented NAC and Endpoint detection and response tools to reduce internal malware threats. The remote security team is responsible for monitoring alerts and responding to them 24/7. Induslnd Bank has an IS027001:2022 certified captive Security Operations Centre (S0C), which works annually to ensure it monitors all security incidents in the Induslnd Bank infrastructure and correlates events, identifies threats, and supports incident response in real-time.
The Bank has partnered with external specialists to manage cybersecurity incidents. Their Incident Response Plan outlines various categories of incidents and the corresponding procedures to handle them. In the event of severe cybersecurity breaches, the Bank has arrangements with retained external experts to provide vital expertise during the response. Additionally, the Bank has secured cybersecurity incident insurance.
The Bank employs multiple channels, including a dedicated Surveillance Unit, to monitor and mitigate insider threats and internal fraud. To strengthen awareness on cyber frauds and promote safe online banking practices, the Bank leverages digital channels, e-learning platforms, classroom training, and workshops. These educational efforts cover key topics, including identifying and avoiding phishing and vishing attempts, secure use of credit and debit cards, and protection from malware and malicious websites. This comprehensive awareness is designed to educate and enhance the cybersecurity knowledge of internal users, customers, and partners.
Furthermore, the Bank has introduced a dedicated service to monitor dark web feeds through its Threat Intelligence Services, enhancing its ability to identify potential threats.
The Bank has a comprehensive and regularly reviewed Disaster Recovery Strategy to address potential risks arising from unexpected events such as ransomware attacks, natural disasters, or potential vulnerabilities. The Bank has implemented a Disaster Recovery (DR) Plan for their technology staff and the underlying technology stack, which has been tested against the DR plan. The strategy focuses on recovering critical information, restoring systems, and swiftly resuming operations. These measures are part of the Banks broader Business Continuity Management (BCM) plan, which aims to ensure uninterrupted operations with minimal downtime.
The Bank has built a well-defined Vulnerability Management Plan to mitigate risks associated with applications and systems proactively. This plan aims to identify and address vulnerabilities before they can be exploited or cause any harm. The Bank employs various practices, such as testing, auditing, and scanning, to detect and rectify potential issues, ensuring a secure environment for its operations.
The Bank is utilizing threat-hunting capabilities that verify specific hypotheses related to emerging threat scenarios. It deploy a variety of tools for fine-grained authentication and authorization to restrict unauthorized users from accessing information. These measures help the Bank to prevent harm related to information theft, modification, or loss.
The Bank continues to utilize public cloud infrastructure for faster go-to-market and has maintained similar protection levels for application and infrastructure. The Bank religiously performs risk assessment of its cloud infrastructure and ensures that the identified risks are fixed.
These various capabilities deployed by the Bank instill confidence to all stakeholders that the Bank is striving hard to provide a safe and secure banking experience, which drives trust in the Banks digital properties.
20.2. Business Continuity Management
The Bank has established a comprehensive Business Continuity Policy that outlines its structured approach to Business Continuity Management (BCM). This policy provides a consistent and overarching framework for developing, implementing, maintaining, and continually enhancing the Banks ability to manage business continuity effectively. The Policy document frames guidelines for building a resilient management framework to achieve effective and functional business continuity and critical processes for the Bank. The Bank has implemented robust business continuity strategies and recovery plans to ensure the timely restoration in the event of significant operational disruptions. Regular mock drills are conducted to guarantee preparedness and validate the effectiveness of recovery strategies. These drills engage recovery teams extensively, testing their readiness and the efficacy of the recovery protocols under simulated emergency scenarios.
Key components of BCP, such as Business Impact Analysis (BIA), BCP Recovery Plan, and BCP Testing, are tracked to reinforce effective monitoring and management of Business Continuity.
21. Priority Sector Lending (PSL)
The Reserve Bank of Indias guidelines on Priority Sector Lending (PSL) mandate banks to allocate 40% of their Adjusted Net Bank Credit (ANBC) toward priority sectors such as agriculture, micro and small enterprises (MSMEs), housing, education, social infrastructure, renewable energy, export credit, and the upliftment of weaker sections.
To ensure compliance and expand meaningful outreach, the Bank has strategically aligned its business verticals, Commercial, Consumer, Inclusive, and Vehicle Finance to serve the specific needs of clients in these priority segments. This integrated approach has enabled the Bank to maintain a robust and inclusive footprint across nearly all PSL categories.
Dedicated efforts were made to develop and promote tailored financial products for the agricultural sector, MSMEs, and the Weaker Sections. Specifically, for the MSME segment, we have streamlined our credit evaluation and disbursement processes by leveraging digital technologies and introducing innovative solutions. Key initiatives include scorecard-based credit assessment, automated banking statement analysis, and integration with GST Suvidha Providers (GSPs) to access borrowers GST history, enhancing speed and accuracy in lending decisions.
To further strengthen its support to MSMEs, the Bank has established 126 specialized branches as of March 31, 2025. These branches are designed to address the unique credit needs of MSME clients through dedicated service, expert guidance, and efficient delivery mechanisms.
To bridge any gaps in PSL target achievement through direct lending, banks must allocate the corresponding shortfall amount to funds such as the Rural Infrastructure Development Fund (RIDF), managed by institutions like NABARD, SIDBI, NHB, and MUDRA. As of March 31, 2025, the Banks aggregate deposits in these funds stood at Rs5,604.67 crore (Rs5,484.19 crore in FY2024), fully qualifying under PSL norms.
The Bank also leveraged the Priority Sector Lending Certificates (PSLC) mechanism introduced by the RBI in FY2016, allowing the purchase and sale of lending obligations across the banking system. During FY2025, the Bank purchased PSLCs of an aggregate amount of Rs51,431 crore and sold PSLCs worth Rs14,882 crore, demonstrating effective portfolio optimization while bolstering sectoral credit access.
Through a combination of targeted product innovation, digital enablement, dedicated branch infrastructure, and regulatory instruments, the Bank continues to make sustained progress in fulfilling its PSL commitments. These efforts reflect the Banks broader vision to drive inclusive and equitable financial growth across India.
22. Marketing and Communications
In FY2025, IndusInd Banks Marketing and Communication function played a central role in enhancing and managing the brands visibility, deepening customer engagement, and strengthening loyalty across retail and institutional segments. The Banks strategy was rooted in customer-centricity, driven by innovative campaigns, strategic partnerships, and performance marketing, all while staying attuned to evolving consumer expectations.
IndusInd Banks 30 Years Celebration Campaign
To mark three decades of IndusInd Banks journey, the 30 Years campaign was launched with a focus on innovation, customer- centricity, and community development. The campaign aimed to reflect the Banks growth over the years and reaffirm its commitment to deliver modern and customer-focused banking solutions. Designed to create brand awareness and emotional connection, the campaign served as a tribute to the Banks legacy while reinforcing its vision for the future.
A comprehensive suite of marketing and communication assets was developed and deployed across internal and external platforms. These included a commemorative logo unit, key visual identity, and a series of targeted mailers and WhatsApp creatives for both customers and internal teams. Visibility was enhanced through ATM screens, digital banners, and a range of engaging social media posts covering business segments such as MSME, Agriculture, and Vehicle Loans. All the activities on social media garnered a total of 52,85,638 impressions across Facebook, Instagram, X, and LinkedIn. The campaign also featured a CEO communication to the sales team, motivational content for employees, and partner announcement mailers, ensuring a wide- reaching impact across stakeholders. A print ad was placed in the Economic Times - Mumbai, Delhi, Bangalore, Chennai, Kolkata, and Hyderabad editions.
Association with ICC as a Global Partner for the ICC T20 World Cup 2024
As part of its global partnership with the International Cricket Council (ICC) for the T20 World Cup 2024, IndusInd Bank launched a series of high-impact marketing initiatives aimed at driving customer engagement and reinforcing brand presence. The campaign was structured around three primary touchpoints: internal launch collaterals, branch-level trophy tour activities, and curated credit card offers designed to increase customer spending during the tournament.
To build momentum from within, the Bank launched a powerful internal rollout, including communication from senior leadership, mobile app banners, homepage, and ATM screen creatives. These assets not only energized employees but also equipped frontline teams to drive momentum and prepared the Banks teams for active customer engagement. The association was further marked by an integrated 360-degree campaign under the theme #GoLimitless, spanning digital, television, on-ground, and out- of-home (OOH) activations. Designed to inspire and connect, the campaign amplified IndusInd Banks presence during the marquee sporting event and reinforced its positioning as an agile, forward- looking, and customer-centric brand.
The digital campaign was anchored by a real-time content war room set up to manage engagement across social media platforms. The #GoLimitless campaign featured a mix of high- impact influencer partnerships, CGI-powered storytelling, topical content, and interactive formats that resonated with cricket fans across the country.
The digital campaign achieved significant milestones, clocking over 259 million impressions, 157 million video views, 8.5 million engagements, and reaching over 209 million users. A standout moment was a CGI-led video featuring the Statue of Liberty celebrating Indias win against Pakistan, which went viral with
17 million views and widespread engagement. The video was also featured on leading marketing platforms, such as Mad Over Marketing and Social Samosa.
Audience-driven engagement was further amplified through initiatives like the #GoLimitless Cricket Song and the #GrooveLimitless dance challenge, which attracted 16.8 million views and over 5 lakh likes. The CheerTakshari contest emerged as a fan favourite, garnering 23.1 million views, 758 unique entries, and 200+ user-generated videos.
influencer collaborations with notable personalities, including Aakash Chopra, RJ Kisna, and Bhavna Balakrishnan, helped amplify the CheerTakshari narrative, contributing to an additional reach of 1.7 million and 29,000+ engagements. A marquee partnership with cricket commentator Harsha Bhogle for the Unlimited Cricket Series further improved brand authenticity, attracting over 21.7 million views and approximately 7,00,000 engagements from cricket enthusiasts.
As part of its fan engagement activities, indusind Bank curated high-engagement contests offering match tickets for india vs Bangladesh in New York and exclusive merchandise giveaways drove strong participation, with over 2,435 contest entries and 10,000+ engagements.
Notably, indusind Bank recorded the highest Share of Voice among all T20 World Cup sponsors, with over 41,500 mentions across social platforms, cementing its leadership in brand recall and fan resonance during the tournament.
On television, the Bank amplified its messaging through two crisp, high-impact stings aired on Star Sports HD Channels across multiple languages, English, Hindi, Tamil, and Telugu, during all india matches, semi-finals, and the final. These creatives highlighted the Banks special cricket season rates on Fixed Deposits, connecting the cricketing moment with a strong financial proposition.
The Anthem Companion program delivered an emotional and experiential layer to the campaign by offering children the chance to walk alongside the cricket players during the national anthems at each match. Over 1,000 children participated, making it a memorable on-ground initiative that deepened family engagement with the brand.
On-ground activation included the distribution of indusind- branded placards across stadiums, which were prominently visible during match broadcasts, especially during crowd shots and key moments like team walkouts. These visual touchpoints elevated brand visibility and created a direct connection with the vibrant energy of live cricket fans.
Complementing the on-ground strategy, OOH branding was deployed across high-impact locations, including billboards, airport displays, and transit points. The creatives promoted indusind Banks association with the ICC tournament and its attractive Fixed Deposit offerings, ensuring high visibility and reinforcing its brand presence throughout the event duration.
The trophy tour formed a central pillar of the Banks on-ground engagement. The iCC World Cup 2011 trophy was showcased at select indusind Bank branches in Mumbai and Gurugram, offering customers exclusive access to interact with a cherished symbol of national pride. The locations were strategically selected based on customer footfall and engagement potential. in parallel, the Bank introduced limited-period credit card offers in collaboration with Swiggy and EazyDiner, while extending offers for credit card customers on Ajio, Boat, and Samsung. These offers provided exclusive discounts across food delivery, travel, electronics, and entertainment. A cricket-themed rewards structure was integrated, offering bonus points for spending during match hours or in cricket-related categories, enhancing both customer experience and engagement.
To amplify the campaign, targeted customer emailers were deployed with personalized content based on individual spending behaviour. Emails were timed around key moments such as match days or high-traffic shopping hours to maximize relevance and impact. Additionally, dynamic social media content—posts, stories, and reels—was pushed across platforms like instagram, Facebook, Linkedin, and Twitter.
Together, these initiatives delivered a cohesive and impactful campaign, making indusind Bank a prominent and memorable part of the iCC Mens T20 World Cup 2024.
Key Campaigns for INDIE by IndusInd Bank
Under the INDIE brand, the Bank rolled out several hlgh-Impact campaigns. The festive campaign Celebrations Zaroorl Hal was launched across digital platforms including Meta, Google, and YouTube, garnering over 38 million impressions and 10.5 million views during October to November 2024. The IndusInd Bank RuPay Credit Card campaign, centered around UPI-linked credit card transactions, achieved remarkable traction with over 335 million impressions, 65 million+ views, and nearly 4 million link clicks, cutting acquisition costs by 50% and boosting the cards search ranking on Google.
Complementing these efforts was the Heart Wants personal loan campaign, which created an engagement pool of 3.1 million, while a podcast series hosted by Sonia Shenoy attracted over 40 million views, contributing to a sharp rise in Instagram followers from 20,000 to 1.3 lakh. Campaigns like DropTheLabels for Womens Day, featuring Indian chess player Tania Sachdev, further enhanced emotional connect, garnering over 6 million views. The Bank also soft-launched INDIE for Business to its existing base via digital channels.
Launch of Indus Care and Indus Grande Care
Designed exclusively for Resident Indian Senior Citizens, IndusInd Bank launched Indus Care and Indus Grande Care, two premium savings account programs that address the wealth and wellness needs of senior citizens. The programs blend best-in-class banking privileges with curated wellness benefits to support a fulfilling lifestyle. The accounts feature a comprehensive suite of banking benefits, including Family Banking, Preferential Locker Rental, Dedicated Relationship Manager, Priority Servicing, and exclusive Debit Card Privileges.
In addition to these core offerings, the programs provide wellness benefits via a complimentary membership to a comprehensive fitness plan for customers and a family member. Also, every spend made through a Debit Card is rewarding, in the form of Care Smile Points and these points can be redeemed for a variety of health and wellness, entertainment, travel, and fitness benefits.
The launch was facilitated via branches, social media, and various digital channels.
Launch of Indus One Business Account
Launched in FY2025, the Indus One Business Account was developed to simplify business banking for enterprises across different scales and growth stages. Built on a dynamic five-tier structure, the account automatically adjusts to a customers evolving business requirements, removing the need for manual upgrades and ensuring alignment at all times. This account was built to offer businesses a streamlined experience by consolidating key banking services, such as Basic Account Services, Trade and Forex, POS, and CMS under one umbrella. It also eliminates non- maintenance charges and provides hassle-free banking services across all IndusInd Bank branches.
In essence, the Indus One Business Account provides a flexible, adaptive, and efficient solution aimed at enhancing day-to-day banking for businesses of all types and sizes. The launch of the account was facilitated via a dedicated campaign utilizing mailers, social media, brochures, branch posters, and offer letters.
Launch of PIONEER Private
Launched in FY2025, PIONEER Private is IndusInd Banks most premium offering, a bespoke banking experience curated exclusively to serve the ultra-high-net-worth individual (UHNI) segment. Positioned as a partner in the journey of building a new legacy, this exclusive proposition is designed to support the financial aspirations of a distinguished clientele, driving Indias new era of growth and prosperity.
The offering includes a bespoke suite of investment and wealth management solutions, along with specially crafted premium metal debit and credit cards, reflecting both sophistication and functionality.
The launch was marked by a high-profile event at St. Regis, Mumbai, attended by over 100 UHNI guests and featuring a performance by renowned artist Shankar Mahadevan. The campaign was further supported by a mix of ATL and BTL initiatives, including nationwide jacket ads in leading publications such as The Times of India and The Economic Times, high-visibility OOH placements at key airports and business hubs like Cyber Hub, and email campaigns targeted at existing and new potential customers. Dedicated activations were also conducted across PIONEER Lobbies to deepen engagement and awareness.
PIONEER Branch Banking: Premium Banking Proposition
indusind Bank extended its premium banking proposition, PIONEER, to its branch banking channels. This strategic initiative enabled broader accessibility to the PIONEER Banking and Wealth Management Program, expanding its reach beyond select locations to a wider client base across multiple branch touchpoints.
The rollout was supported through targeted internal communication via mailers and dedicated branch activations, ensuring seamless integration into the branch network and enhancing visibility and engagement among both existing and potential clients.
Consumer Finance Division: Vehicle and Affordable Home Loans
The Consumer Finance Division (CFD) at indusind Bank plays a pivotal role in enhancing customer engagement and driving business growth through innovative and targeted communication.
By leveraging WhatsApp as a key channel, the team has effectively created a wide range of thematic and occasion-based creatives promoting two-wheeler, passenger vehicle, small and heavy commercial vehicle, and tractor and farm equipment loans. These include personalized greetings and product promotions for Holi, Gudi Padwa, Ram Navami, Ugadi, Raksha Bandhan, Eid, Christmas, and Womens Day. Sales teams across locations were encouraged to use these creatives as WhatsApp statuses, enabling a more personalized outreach and creating an emotional connect with customers. in addition to seasonal greetings, customized creatives were developed for ongoing finance schemes/tie-ups partnering with leading dealership outlets and OEMs. These were further disseminated to potential customers by way of lobby displays, standees, tent cards, banners, danglers, and leaflets, ensuring the Banks brand visibility and enhancing recall.
The division rolled out performance-driven initiatives like the Login Fee Contest for affordable housing loans and loans against property products, leveraging WhatsApp creatives to effectively motivate the sales teams and drive higher login volumes. internally, marketing enablers nudged employee and partner engagement through multiple training modules, contests, and recognition programs with 100+ internal emailers and creatives, featuring quiz challenges, incentive-driven sales contests, and awards such as certificates and trophies for top performers across Fixed Deposits, Bancassurance, and various lending segments.
Special initiatives, such as celebrating the 10th anniversary of the Tractor and Farm Equipment division, campaigns such as Money on Wheels and Perfecting Agreement & Sanction Letter, along with health insurance promotions, formed part of a comprehensive engagement strategy.
This multi-pronged communication approach has helped the division to maintain consistent visibility across customer touchpoints, deepen dealer relationships, and support frontline staff in driving loan volumes through contextually relevant, timely, and engaging content.
Cyber Fraud Awareness Campaign - Jaankaar Bano, Jagruk Raho in alignment with RBi guidelines and the growing need to educate customers about digital safety, indusind Bank launched the Jaankaar Bano, Jagruk Raho campaign. This a sustained initiative aimed at demystifying banking frauds and promoting vigilance through relatable and engaging content. Recognizing that topics like cybersecurity can often seem complex or overwhelming, the campaign adopted a creative storytelling approach, weaving simple, actionable safety tips into the fabric of everyday life through proverbs, everyday moments, and popular songs.
Over a span of one year, the campaign highlighted more than 40 different types of cyber frauds and scams. It employed a variety of content formats, including static posts, interactive Instagram stories, short videos, and quizzes, to ensure continuous public engagement. Collaborations with popular personalities, such as chefs and actor Sonali Kulkarni, helped extend the campaigns reach and brought a familiar touch to the messaging.
The initiative also featured special content during the festive season under a dedicated hub campaign running from Dussehra to Republic Day, recognizing the surge in online transactions and potential risks during these periods. Posting frequency was increased, and content was adapted to resonate with the festive mood while delivering relevant safety reminders. Through a thoughtful blend of informative and creative content, Jaankaar Bano, Jagruk Raho successfully transformed a traditionally serious subject into a relatable and engaging customer education campaign, reinforcing IndusInd Banks commitment to customer safety and digital awareness.
Loan Utsav Campaign - Ganesh Chaturthi & Gudi Padwa Editions
IndusInd Bank rolled out the Loan Utsav campaign as a festive loan activation initiative to bring services closer to customers through the branch activation of ADM desks during regional festivities. The first phase was piloted during Ganesh Chaturthi, one of Maharashtras most significant festivals, from August 16, 2024 to September 6, 2024, across select branches in Mumbai. This phase targeted 20 branches with ADM desks and 10 without, aiming to assess the impact of tailored marketing support and on-ground resources on lead generation and conversions. The campaign promoted a bouquet of retail asset offerings, including Home Loan, Personal Loans, Gold Loans, and Loans Against Property, through branch installations, newspaper inserts, emailers, social media posts, and digital promotions. The initiative also helped compare the performance of branches based on marketing exposure and ADM support.
Building on these learnings, the campaign was extended during Gudi Padwa from March 13, 2025, to March 30, 2025, across key cities like Mumbai, Pune, and Nagpur. With vibrant branch installations and localized outreach, the Gudi Padwa edition aimed to attract walk-in customers and strengthen community connections. Marketing efforts included targeted SMS and emailers, encouraging customers to visit branches or apply online through a dedicated lead generation page. Both phases of the campaign reinforced the Banks intent to integrate customer-centric lending with culturally relevant moments, while simultaneously generating measurable business impact.
Launch of Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card
IndusInd Bank, in partnership with Poonawalla Fincorp Ltd., launched the eLITE RuPay Credit Card, a co-branded offering designed to cater to the evolving financial preferences of modern customers. Positioned as an entry-level card on the RuPay network, this product enables UPI-based transactions and offers customers a combination of value-driven features such as accelerated rewards on online spends, milestone-based bonuses, and entertainment perks like Buy One Get One movie offers. The card also provides essential protections, including fraud liability and air accident cover, making it a holistic offering for everyday spending.
The campaign was supported through a comprehensive set of marketing activities aimed at both onboarding and ongoing engagement. Welcome emailers and homepage banners created visibility during the launch phase, while detailed benefit guides and welcome kit collaterals ensured customers were well-informed about the product features
Launch of the PIONEER Private Credit Card
The PIONEER Private Credit Card was launched as an exclusive offering for IndusInd Banks most affluent customers, targeting individuals aged between 35-70 years. Designed with a vision to offer first-of-its-kind credit card benefits in the industry, the card provided a gateway to unmatched lifestyle privileges and best-in- class banking services, all with zero joining fees. The launch marked a significant milestone in the Banks commitment to delivering premium, tailored experiences to the topmost customer tier.
The product proposition was built around luxury, convenience, and exclusivity, featuring complimentary hotel memberships with Taj and ITC, premium dining privileges via EazyDiner, and welcome and renewal benefits such as Postcard Hotel vouchers. Customers also enjoyed extensive travel benefits, including airport meet and greet, luxury pick and drop, unlimited global lounge access, and 0% forex markup on international spends. Lifestyle perks included unlimited domestic golf access, international golf games, free movie and non-movie tickets, and milestone rewards such as Taj vouchers and bonus reward points. A robust reward structure allowed points to be redeemed as air miles, ITC Green Points, or cash credit.
The card also provides comprehensive insurance coverage, concierge services through Aspire and LR, and pricing advantages such as a low APR of 2%, nil cash advance and over-limit fees, and fuel surcharge waivers. With this launch, IndusInd Bank successfully created a distinctive product that catered to the refined lifestyle and financial needs of its high-net-worth customers, reinforcing its position in the premium banking segment.
The Great Indian Loan Festival - Boosting Retail Assets During Festive Season
To capitalize on the Festive Season, indusind Bank launched the Great Indian Loan Festival campaign during Q3 FY2025, which aimed to boost retail asset business and build long-term customer relationships. This umbrella campaign, running from October 3, 2024, to March 31, 2025, offered a suite of special product offerings across key retail loans, ensuring a festive appeal to a wide customer base.
The campaign featured a variety of attractive product propositions. Home loans came with extended tenures of up to 30 years and attractive rates, while personal loans offered paperless processing with flexible tenures of up to 84 months. Gold Loans featured fast disbursement and simple documentation with competitive interest rates, and Loan Against Property provided high loan amounts of up to 25 crore with flexible tenure options. Moreover, the Loan Against Securities offered overdraft facilities up to 50 crore, with no prepayment charges and a wide range of approved securities.
To support the campaign, internal communication efforts included a motivational email from the desk of the branch banking head to the sales team, WhatsApp creatives, and branch mailers. Externally, targeted product emailers were sent to promote Home Loans, Personal Loans, Gold Loans, Loan Against Property, and Loan Against Securities, alongside a promotional video and WhatsApp creatives to drive customer engagement. The campaigns media efforts were amplified through social media posts highlighting the unique features of these offerings, generating strong traction and engagement with the target audience.
Corporate Banking Marketing Initiatives
indusind Bank focused on driving business-aligned storytelling and thought leadership to reinforce our position within the Corporate and Commercial Banking ecosystem. Alongside this, several initiatives were rolled out to enhance visibility, foster engagement, and showcase the Banks commitment to delivering value to clients.
Corporate and Commercial Banking LinkedIn Showcase Page
As part of the digital strategy, the Banks Corporate and Commercial Banking Group (CCBG) expanded its digital footprint through a structured content approach on its Linkedin Showcase Page. The platform became a key destination for curated campaigns, thought leadership articles, client success stories, and product insights. During the year, the page experienced significant engagement, indicating strong stakeholder interest and relevance. The page witnessed impressive growth, with followers rising by 64%, from 2,863 in Q1 to 4,711. impressions soared from 4,216 in Q1 to 5,34,387, reflecting the growing resonance and engagement with the content.
Digital Campaigns of the Year 2025
Three flagship campaigns that significantly contributed to this engagement included MSME Week at indusind Bank, which highlighted the resilience and growth of Indias MSMEs, showcasing bespoke banking solutions and client success stories. The campaign underscored the Banks role as a trusted partner to the MSME ecosystem. Another key campaign was the MSME Level
Up Series, aimed at empowering mid-sized businesses through expert insights, blogs, and videos on scaling and transformation. The series positioned the Bank as a thought leader and growth partner. Lastly, the #WomenpreneursOfindusindBank campaign, launched on Womens Day, celebrated women entrepreneurs in the Banks ecosystem. This emotional storytelling initiative strengthened brand advocacy and fostered a sense of community. These campaigns collectively boosted awareness, engagement, and visibility, highlighting the Banks impact in the commercial and MSME sectors.
Strategic Events and Industry Engagements
The Bank actively participated in key industry forums to deepen its market presence and foster strategic partnerships. At the FADA Auto Summit 2025 in Delhi, indusind Bank partnered with the Federation of Automobile Dealers Associations (FADA) to showcase its Supply Chain Finance (SCF) offerings through a branded stall and targeted video content. This facilitated meaningful conversations with key automotive dealers.
Furthermore, at the Express Awards for Women Entrepreneurs 2025 in Mumbai, the Bank was prominently featured across branding touchpoints. The Banks leadership presented awards to top women entrepreneurs, reinforcing its commitment to inclusivity and entrepreneurship.
Internal Communication and Engagement Initiatives
Focused internal communications were executed to boost awareness, celebrate achievements, and align teams with strategic goals. A series of mailers was distributed internally and externally to improve understanding and adoption of the Trade Receivables Discounting System (TReDS). Top-performing Supply Chain Finance RMs were celebrated in a webinar, attended by over 250 employees. Their success stories were shared via certificates and
internal mailers, highlighting their contributions to the Banks growth. Collaterals were also created to support the launch of the SCF mobile app, Indus earlyCredit, aimed at internal stakeholders and clients for broader adoption.
These initiatives, both internal and external, played a crucial role in strengthening IndusInd Banks positioning and fostering deeper relationships with clients and employees.
Employee Engagement Initiatives
At IndusInd Bank, the Employee Experience team under the Human Resources Division continues to drive initiatives that promote holistic well-being, inclusivity, and employee engagement across the organization. Through a series of thoughtfully curated programs and campaigns, the team focused on fostering a positive work environment while addressing physical, mental, and emotional wellness.
The Health Highlights by HRD series brought monthly virtual healthcare sessions to employees, focusing on specific illnesses and ailments to raise awareness and encourage preventive care. Complementing physical health, the Mindset Matters by HRD initiative delivered motivational mailers every Monday to help employees start the week with positivity and purpose.
In line with mental well-being, a pan-bank webinar was conducted on World Mental Health Day, where a medical expert shared practical insights and the dos and donts for maintaining mental wellness. The Bank also facilitated on-ground support through eye check-up camps conducted across various cities, benefiting more than 2,000 employees.
To mark the International Day of the Girl Child, a unique webinar was held in collaboration with the employee volunteering team. Employees were encouraged to create greeting cards for girl child orphanages, spreading festive joy and reinforcing the spirit of giving.
Instilling a culture of learning and creativity, a Book Club was launched, accompanied by a contest to engage avid readers and recognize participation. To further understand and improve the workplace experience for women, a Voice of Women e-survey was conducted, inviting feedback on safety, security, hygiene, and other key areas.
A communication campaign was launched around two women- focused benefits - Indus Cares and You Matter, which were rolled out to support women employees in various life scenarios. Indus Cares extended maternity benefits, while You Matter offered tailored support for womens well-being and empowerment.
In addition, to promote inclusivity and awareness of employee rights, a communication campaign was launched around Paternity Leave benefits, ensuring all employees were informed about the Banks progressive policies.
Positive Moves, an education and career guidance program for the employees children, was successfully run throughout the year, benefiting students in classes 9 to 12.
These initiatives collectively reinforce IndusInd Banks commitment to creating a supportive, inclusive, and people-first workplace culture.
Zonal Marketing Activities (Branches)
In an effort to strengthen customer relationships and enhance on-ground visibility, IndusInd Bank organized a range of zonal marketing and BTL activities across branches throughout the year. These initiatives were designed to engage customers meaningfully while fostering a sense of community and connection.
From celebrating key occasions like Makar Sankranti, Holi, Republic Day, Independence Day with customers, the branches also set up extensive campaigns on special days like Womens Day, World Yoga Day, World Environment Day, and Doctors Day. Several service-led initiatives like Voter ID enrolment camps, dental check-up camps, blood donation drives, and senior citizen-focused activities were also organized, creating opportunities to interact with customers beyond transactional touchpoints.
These efforts were localized to reflect regional culture and preferences, reinforcing the Banks commitment to inclusivity, wellness, and community involvement. By extending beyond traditional banking, IndusInd Bank continues to make a positive impact, deepening customer relationships and strengthening its presence in the lives of the communities it serves.
Metro and Airport Branding, OOH Campaigns
To enhance brand visibility and reach a wider urban audience, indusind Bank executed strategic branding initiatives across key metro and airport locations. As part of this effort, metro station branding was undertaken at high-footfall stations such as Okhla NSIC, Pitampura, and Nirman Vihar in Delhi.
Moreover, campaign-specific creatives for offerings like Savings Accounts and PIONEER Private Banking were deployed across major airports in metro cities, including Bangalore, Mumbai, and Delhi. This ensured sustained visibility among a premium and high-influence audience, reinforcing the Banks presence across critical urban transit hubs.
Furthermore, OOH advertisements for key campaigns like interest rates were deployed in strategic locations across various cities in India, including Delhi, Mumbai, Bangalore, Chandigarh, Jaipur, Lucknow, Surat, Pune, Bhopal, Indore, Chennai, and much more.
IndusInd For Sports
At IndusInd Bank, we remain committed to promoting inclusivity and nurturing Indias sporting talent continues through impactful communications. On International Day of Persons with Disabilities, we launched the campaign #CelebratingAbilitiesNotLimitations, advocating for the leadership and resilience of persons with disabilities. A powerful video was created to highlight the Banks belief in the transformative power of sports to break barriers, inspiring individuals and communities to push beyond their limits. A special webinar featuring the Paralympic Committee of India and Cricket Association for the Blind in India leadership highlighted Indias growth in para-sports and the Banks pivotal role in this journey.
The Bank also celebrated a landmark achievement through a focused internal communication campaign recognizing two of our supported para-athletes who were conferred with the prestigious Arjuna Award for their outstanding performances in international sports, both lauded internally for their perseverance and excellence. Through mailers and internal updates, employees were engaged with their inspiring stories, reinforcing the impact of the Banks sports initiatives and their contribution to national pride.
A standout achievement was the gold medal win by our Bank supported athlete at the U23 World Wrestling Championships, showcasing the impact of our support. Building on its commitment to inclusive sports, the Bank powered the IndusInd Bank Womens National T20 Blind Cricket Tournament 2025, an adapted format of cricket designed for blind and partially sighted players. The tournament was supported through internal and external communications, including mailers and social media posts that provided updates on match schedules, player highlights, and team groupings. The digital campaign garnered over 1,13,007 impressions across Meta, LinkedIn, and X. Apart from the sporting events, inspiring lessons from like resilience, teamwork, and the pursuit of excellence from Indias sports icons were brought to life through internal communications as a New Year message.
On the occasion of International Womens Day, the Bank launched a campaign #WomenInSports celebrating female athletes who are rewriting the rules of sports. Through a dynamic video, we highlighted how these athletes are not just breaking records but also inspiring the next generation to dream big. At IndusInd Bank, we are proud to be a catalyst for change, driving equality in sports and beyond. The campaign resonated across our social channels and within the Bank, generating 6.3 million views, 3,640 engagements, amplifying our message, and reaching millions.
Get Set Run
Get Set Run, the Banks flagship employee engagement initiative, promotes fitness and team spirit. In FY2024, the campaign was launched on National Sports Day (August 29) with a vibrant event calendar, supported by city-wise banners and localized vibrant emailers to drive relevance and participation. Through consistent communication and region-specific promotion, the initiative has grown into a powerful internal campaign, reinforcing the Banks commitment to a culture of wellness and community through sport.
Through consistent promotion and regional activations, Get Set Run has evolved into more than just a run; it has become a movement celebrating sportsmanship, well-being, and team spirit across the organization.
IndusInd Bank Paris 2024 Paralympic Games Campaign
As a testament to its ongoing commitment to driving inclusion through sports, IndusInd Bank partnered with the Paralympic Committee of India (PCI) as the Official Banking Partner for the Paris 2024 Paralympic Games. This association marked a key milestone under the Banks flagship initiative, IndusInd For Sports, which has leveraged sports as a powerful tool for social change to drive inclusion and sustainability since 2016.
Through this partnership, the Bank reaffirmed its belief in the resilience and potential of Indian para-athletes and extended support to help them achieve excellence on the global stage. IndusInd Banks continued support of para-sports demonstrated its commitment to inclusion, diversity, and empowerment through sporting achievements.
To celebrate this association, the Bank launched a digital campaign titled #HarKadamJeetKa, which highlighted the journeys, accomplishments, and indomitable spirit of Indias para-athletes. The campaign aimed to inspire national pride and bring greater visibility to the para-sports ecosystem.
Together with PCI, the Bank worked towards enhancing access to training facilities, improving resources, and creating an environment that recognized and nurtured talent. With 84 athletes, the largest Indian contingent in Paralympic history, the collaboration aimed to elevate the para-sports movement and support athletes in achieving new milestones.
This partnership offered a wealth of branding opportunities, delivering an impressive 132 million+ impressions across platforms such as YouTube, social media, and InShorts.
The campaign generated a total of 23 million+ video views across YouTube, social media, and InShorts combined. Besides, social media reached a 1.98% engagement rate, incorporating likes, comments, shares, clicks, and other actions.
An article published on inShorts on September 4 reached over 1.7 million users, with 4,00,000+ users watching the accompanying video, 5,200+ sharing the article, and 5,000+ bookmarking it for future reference.
During the live broadcast of the Paris 2024 Paralympic Games, indusind Banks branding was prominently featured through L-band and squeeze-back banners. While 68 insertions were initially planned, the campaign exceeded expectations, delivering 136 insertions throughout the broadcast.
This comprehensive campaign strengthened the Banks commitment to supporting para sports, creating substantial visibility and engagement across multiple channels.
CSR-Related Activities
At indusind Bank, responsible banking is central to its purpose. The Bank has actively communicated its CSR initiatives across multiple platforms, highlighting its work in rural development, inclusive sports, education, and environmental sustainability. Strategic storytelling around CSR initiatives such as the integrated Development Project in Maharashtra and the Springshed Water Conservation Project in Odisha helped showcase the Banks role in driving large-scale impact in water conservation, sustainable farming, and livelihood enhancement. Through engaging campaigns, we also spotlighted our support for differently-abled athletes and underprivileged sportspersons, vocational training for youth with disabilities, and educational programs that have empowered over 1.69 lakhs children and youth across india.
Sustainability and Impact Outreach
Our marketing and communication efforts amplified the Banks sustainability initiatives, including climate-resilient community development projects in Jharkhand, our collaboration with UNICEF on disaster preparedness and climate-responsive governance, and our long-standing association with Atal Tinkering Labs to promote STEM education. On international Womens Day, we extended this narrative to gender empowerment by highlighting how indusind Bank supports and uplifts women through its CSR initiatives. These initiatives were shared through targeted campaigns, emailers, videos, and social media narratives, strengthening our focus on CSR principles and the Banks role in advancing the national agenda on sustainability and inclusive growth.
Recognition and Thought Leadership
indusind Banks impactful CSR and sustainability initiatives received significant recognition, further enhancing our brand positioning. Key accolades included the CSR Times Award 2024, the CSR Journal Excellence Award, the Champions of CSR Award by Times Now, and the Sports india Award for inclusive sports. We were also honored with the Pioneer in Technology Award by iiT Madras, acknowledging our efforts in our flagship program. These recognitions were strategically leveraged across communication channels to reinforce trust, transparency, and the Banks commitment to creating long-term value for people, communities, and the planet.
23. IndusInd for Sports
The non-banking sports vertical indusind for Sports harnesses the power of sports to inspire communities both within and beyond the Bank.
Under the indusindForSports initiative, the Bank has launched a wide range of programs across platforms, supporting athletes across disciplines with focused, long-term backing. Recognizing the significance of physical well-being and its positive impact on individuals and the workplace, the Bank is actively promoting health and fitness. At its core, the tagline of indusindForSports "There is a sportsperson in everyone,” encourages individuals to embrace the power of sports, regardless of background and experience of the individuals.
indusind Bank is committed to supporting inclusive Sports in the country through CSR interventions aligned with schedule Vii of section 135 of Companies Act 2013.
Programs
Para Champions Program
The Para Champions program in association with the GoSports Foundation, aims to strategically boost the indian Paralympic movement. in order to support indian para-athletes on their Paralympic journeys and beyond, the program offers holistic assistance, including sports science support, elite-level training and competition, and access to top experts. The program emphasizes sharing athlete success stories across public platforms to inspire and engage wider audiences.
As of March 2025, the Bank currently supports 39 para-athletes across 12 different sports, who have collectively secured 1,267 medals, including 668 Gold, 339 Silver, and 260 Bronze medals, since the programs inception. in FY2025, athletes demonstrated amazing skill and earned 125 medals, including 62 Gold, 34 Silver, and 29 Bronze medals.
IndusInd Cricket for the Blind program
in collaboration with the Cricket Association for the Blind in india (CABi), the cricketing arm of Samarthanam Trust, this initiative is advancing inclusion and empowerment through cricket, improvement in infrastructure, skills, and nutrition access.
The Bank supports the indian Blind Cricket Team and over 750 players (466 men, 284 women) across state and district levels, while CABi drives skill development, awareness workshops, and socio- economic empowerment.
in FY2025, the 7th edition of indusind Bank Nagesh Trophy Mens National T20 Tournament for Blind (equivalent to the Ranji Trophy) saw 28 teams 448 players, with Team Andhra Pradesh emerging as the winner.
Similarly, 5th edition of indusind Bank Womens National T20 Tournament for Blind 2025 was conducted, featuring 19 teams 304 Women players, with Madhya Pradesh clinching the title for the first time.
Additionally, the Bank also supported the indusind Bank Mens Bilateral Series for the Blind 2025 in Bangalore, where india defeated Bangladesh 4-1.
Wrestle for Glory
The Wrestle for Glory, In association with the Inspire Institute of Sport, this program supports 49 female wrestlers from underserved communities, providing world-class training, coaching, and mentorship to enable high-potential athletes to thrive on national and global stages. The program addresses the lack of access to world-class sporting facilities, coaching, mentorship, and provides the necessary ecosystem to help young and high-potential female athletes succeed at the highest levels. Since inception (FY2024) the athletes have won a total of 83 medals, which include: 33 Gold, 22 Silver, and 28 bronze across national and international tournaments. In FY2025, athletes secured 49 medals, including 23 Gold, 10 Silver, and 16 Bronze medals.
Two athletes from the program qualified for the Olympic Games Paris 2024.
IndusInd Athlete & Mentor Program
The IndusInd Athlete & Mentor Program supports rural children from nomadic tribes and backward castes in the Satara district in Maharashtra. In collaboration with the Mann Deshi Foundation, this initiative nurtured 30 female athletes and 20 PE teachers, fostering a culture of sports excellence and inclusivity. The program focuses on four key sports, athletics, swimming, wrestling, and field hockey, helping rural children develop leadership, and motor and life skills, while improving their overall quality of life.
The program aims to promote rural sports by identifying and supporting grassroots talent and enhancing their achievements in the sports arena, and helping them develop a positive self-image. Since its inception, the athletes have won a total of 552 medals, including 279 gold, 158 silver, and 115 bronze across national, state, district, and taluka-level events. In FY2025, the athletes won 77 medals, including 39 Gold, 24 Silver, and 14 bronze.
IndusInd Inclusive Squash Program
This unique initiative, run in partnership with Start Seva Sahakari Sanstha Maryadit, supports 25 local tribal girls from economically and historically disadvantaged communities in Kalote Village, Maharashtra. The program aims to bridge the rural-urban gap by introducing squash to rural communities, a sport typically associated with urban elites. The program offers high-performance training, mentorship from a top Indian squash coach, and tournament opportunities, helping the tribal children develop their skills, improve health awareness, and build self-confidence.
The initiative focuses on underprivileged tribal youth, fostering equality and excellence in sports.
The programs first-ever tribal athlete represented India on the global squash stage at the 3K USD PSA Challenger Reliance Sri Lankan Open, achieving a career-best world ranking of 295/495.
IndusInd TT for Her Program
In partnership with Play and Shine Foundation, this program supports 25 promising women table tennis players, selected through a rigorous evaluation process. This initiative aims to nurture young talent and develop future champions who will represent the nation proudly at both national and international tournaments, inspiring the next generation of female table tennis champions.
The program provides comprehensive support, including training, competition, equipment, and nutrition to help the players reach their full potential.
Our athletes have demonstrated extraordinary dedication and resilience, securing an impressive medal tally of 235 medals, including 76 gold, 65 silver, and 94 bronze across national and international tournaments. In FY2025, athletes secured 188 medals, including 61 gold, 52 silver, and 75 bronze in the field of table tennis.
Empowering the Champions - Wrestling
The Empowering the Champions - Wrestling, an initiative by the Physical Education Foundation of India (PEFI), shapes the future of 46 wrestlers (29 men and 17 women) from Haryanas underprivileged communities, helping them pursue their sporting aspirations and proudly represent India. The athletes are provided with comprehensive assistance, including access to advanced sports science, cutting-edge technology, nutritional supplements, and personalized support, ensuring holistic development.
The athletes supported by the Bank have made an impressive mark, securing 42 medals (23 Gold, 8 Silver, 11 Bronze) across both national and international competitions, out of which 39 medals were won in FY2025, including 22 gold, 7 silver, and 10 bronze medals.
One standout athlete made history by securing gold at the U23 World Wrestling Championships in Albania, becoming only the second Indian male wrestler to claim the prestigious U-23 title.
The Empowering the Champions - Athletics
Empowering the Champions - Athletics, launched in partnership with the Physical Education Foundation of India (PEFI), was introduced to support 30 athletes from economically disadvantaged backgrounds in Eraviperoor, Kerala. This initiative provides personalized, sport-specific support, including access to cutting-edge technology, sports science, and expert guidance to ensure their holistic development. The programs goal is to identify and nurture young talent early, fostering diversity in the competitive landscape and helping athletes pursue their sporting aspirations, thus contributing to a stronger sports culture and a brighter future for the youth.
Since FY2025, the supported athletes have claimed 54 medals, 28 Gold, 17 Silver, 9 Bronze, and continue to represent the rising future of Indian athletics.
Employee Engagement Get Set Run
Get Set Run Is the Banks flagship employee engagement initiative, introduced in 2016 to promote running as a healthy lifestyle practice. The program encourages employees to take part in marathons and races held across the nation. Since its inception, the initiative has seen participation from over 13,000 employees.
In FY2025, the Bank supported employee participation in 24 marathons across 19 cities, with a collective distance of 6,644 km covered. Notably, 35% have graduated to running competitive marathons.
Under this initiative, employees joined runs supporting Impactful causes such as education and healthcare for underprivileged children, fundraising and support for cancer patients, meals for malnourished children and animals, and runs for soldiers. Through Get Set Run, the Bank continues to inspire employees to stay fit, challenge themselves, and foster a culture of health and wellness within the organization.
#HarKadamJeetKa
The Bank strengthened its commitment to the Indian Paralympic movement by partnering with the Paralympic Committee of India (PCI) as the official banking partner of the Paris 2024 Paralympic Games, supporting 84 Indian para-athletes. As an official banking partner of the Paris 2024 Paralympic Games, the Bank engaged employees with trivia, inspiring champion stories, and contests advocating collective support for inclusivity under the #HarKadamJeetKa Campaign. The campaign received over 2,200 responses, with 40 winners across four contests and multiple inspiring athlete stories.
#GoLimitless
As the Global Partner of the ICC Mens T20 World Cup, the Bank brought crickets most electrifying moments to life. This partnership focused on passion, engagement, and unforgettable experiences for cricket lovers worldwide. An array of exciting activities, including Anthem Buddies, Experience the ICC T20 World Cup Trophy, #ArtofCricket, Trivia, and Predict & Win, generated over 21,500 responses and saw 2,300+winners across 16 contests, fostering a sense of camaraderie, fun, and enjoyment.
#CelebratingAbilitiesNotLimitations
On International Day of Persons with Disabilities, IndusInd Bank launched the #CelebratingAbilitiesNotLimitations campaign to celebrate the leadership and resilience of persons with disabilities. Anchored by a moving short film championing the transformative power of sports, the campaign aimed to inspire individuals and communities to push beyond their limits. With 10,486 impressions, amplifying the message of empowerment and change.
#WomenInSports
Marking International Womens Day, the Bank launched the #WomenInSports campaign with a dynamic video celebrating female athletes breaking records and inspiring the next generation. As a catalyst for change, the Bank reinforced its commitment to driving equality in sports. The campaign reached 6.3 million views and 3,640 engagements, amplifying the message of empowerment.
24. Corporate Social Responsibility
SATTVAM - Our Country. Our Commitment.
At IndusInd Bank, our commitment to economic inclusion, social equity, and a sustainable environment Is deeply rooted in the belief that opportunity must reach everyone, especially the underserved. Our pledge to catalyse change and progress through transformative interventions Is driven by the values of inclusivity, sustainability, through economic empowerment. Under the comprehensive philosophy of SATTVAM, our programs scale across the length and breadth of the country, enriched by collaborations with grassroots NGOs and community groups. Our CSR strategy Is aligned with national development priorities and the United Nations Sustainable Development Goals for 2030, aiming to elevate the Human Development Index and ensure a brighter, inclusive future for all.
Holistic Rural Development Flagship Program
Rural India, despite being home to nearly 70% of the countrys population, continues to grapple with multifaceted challenges that have persisted for generations. Keeping in this in mind, we introduced the flagship Holistic Rural Development Program, aligned with NITI Aayogs Transformation of Aspirational Districts initiative in FY2022. The five aspirational districts selected for IndusInd Banks flagship intervention, Dharashiv (Maharashtra), Bahraich (Uttar Pradesh), Begusarai (Bihar), Baran (Rajasthan), and Virudhunagar (Tamil Nadu), epitomize these challenges while representing the immense, untapped potential that lies dormant across rural landscapes.
At its core lies an unwavering long-term commitment with each aspirational district, for meaningful transformation and deep- rooted systemic changes, necessary for sustainable rural development. The second pillar emphasizes on collaboration through multi-stakeholder forums creating networks that connect government agencies, think tanks, academic institutions, and sectoral experts to foster innovative, locally-relevant solutions that address unique regional challenges. Convergence forms the third pillar, strategically leveraging existing government schemes and support mechanisms to maximize resource utilization and amplify impact. Community ownership, recognizes sustainable transformation that requires active community participation rather than passive beneficiary engagement. Technology and innovation, integrates cutting-edge digital solutions to enhance project delivery, enable efficient reporting, and improve scalability. These technological interventions support rural communities to access markets, knowledge, and opportunities that were previously beyond reach. Finally, the last pillar of the program is the monitoring and evaluation framework.
Theory of Change
Aimed at economically empower beneficiaries by improving the income levels and the Human Development Index in the selected districts, the program delivers through integrated pathways of water and soil resource management, WASH innovations, farm and non-farm livelihood skill development, FPO (Farmer Producer Organizations), entrepreneurship, financial inclusion and collaborative efforts in health, education and basic infrastructure. Climate resilience and womens socio- economic development are at core of the Flagship Program. A standout feature of the program is its emphasis on participatory development, where communities are actively involved in decision-making processes.
Partnership forms the backbone of implementation of the program. The program leverages collaborations with Anchor Partner NGOs like PRADAN, WOTR, and Aga Khan Foundation, and International, organizations such as UNICEF, government agencies, research institutions like IIT Madras, as well as industry bodies like CII. These partnerships bring diverse expertise, credibility, and resources to create comprehensive solutions.
Notable Interventions
- Skill On Wheels Program: in partnership with NSDC, the program has trained over 10,085 youth at their doorstep through Kaushalya Rath with employability skills.
- UNICEF- Disaster Resilience and System Strengthening: This is an advocacy program to strengthen the existing provisions of the Disaster Resilience and Management System. The existing disaster management plans at the district and block level are advocated at the Panchayat level to make those plan functional. As part of the process, sensitization and capacity building of the line departments of the district and state administration was initiated. The program has been implemented in 25 village panchayats with climate change warnings and agro advisories. Disaster management squads have also been built and enforced at the Panchayat level.
- Access to Grant Program: This program supports small rural women entrepreneurs with micro grants of Rs10,000 for an income generation activity and livelihood enhancement. it further opens formal platforms of financial inclusion, linkages with welfare schemes and with market opportunities like empanelling them on the ONDC platform while also maintaining CiBiL scores. The program has reached 2,600 women with micro grants in FY2025 and has brought about convergence of Rs 1 crore in partnership.
- Entrepreneurship Building and Wealth Generation Partnership with Technical Support from CII: This program has created close to 280 enterprising activities with individuals and employs at least one person in the enterprise. This translates into around 480 youth being employed and has brought about financial inclusion, generating a total income of Rs 15 crore.
- IITM- Research based Agro Forestry Model for Climate Resilience: An action research on climate change affecting small and middle land-holding farmers is in progress, which will provide proven methods of sustainable climate-resilient agriculture. During the research the assessment and analysis of long-term (>60 years) rainfall data will be undertaken to understand the changing pattern of rainfall and extreme rainfall events. Simultaneously, the futuristic decadal climate change impact analysis of the rainfall will be projected over two districts. The study is backed by a technology to disseminate the satellite information on climate in the region to the farmers institutions as well as district line departments through an app- based system. The program will provide validated methods of carbon sequestration in its recommendations on agricultural and livelihood practices.
Strategic Projects
Our strategic projects empower marginalized communities and vulnerable populations through focused interventions in a sustainable environment, education and employability, livelihood, and inclusive sports. These projects are designed to drive measurable, positive outcomes in the short to medium term.
Sustainable Environment
India faces an escalating water crisis, intensified by climate change, rapid urbanization, and unsustainable agricultural practices. With millions living under high to extreme water stress, the urgency for effective water stewardship and climate-resilient strategies has never been greater. Water stewardship involves the responsible planning and management of water resources to ensure long-term sustainability. In a country where agriculture consumes nearly 80% of freshwater resources, integrating sustainable practices into farming is critical. Techniques such as micro-irrigation, rainwater harvesting, and crop diversification can significantly minimize water usage while enhancing productivity. Watershed development, agroforestry, and soil moisture conservation are proven methods that build resilience at the grassroots level.
The Banks climate-resilient interventions promote environmental sustainability through the efficient use of water resources, afforestation, and conservation of natural resources. Our approach prioritizes systemic change and women-led leadership, equipping communities to manage, conserve, and consume natural resources responsibly throughout the year.
Key interventions:
- Water Stewardship: Installation of rainwater harvesting systems, revival of village ponds, creation of farm ponds and groundwater recharge resources, and initiatives that enhance agricultural productivity and farmers incomes.
- Renewable Energy: Deployment of solar power systems in schools and community centers, fostering clean energy adoption, and reducing reliance on non-renewable sources.
- Afforestation and Biodiversity Conservation: Supporting plantation drives through Miyawaki and Mangrove plantations across urban centers and promoting organic farming techniques to enhance biodiversity and maintain ecological balance.
Education & Employability
Foundational Literacy and Numeracy (FLN) form the basis of lifelong learning and academic success. However, students from marginalized communities continue to face barriers to meaningful learning, and higher-order competencies such as critical thinking and problem-solving lag behind, especially in government schools. Addressing these gaps requires sustained investment in teacher development, robust learning assessments, and a shift toward holistic education. Our education initiatives are aligned with learning outcomes, and are built on a similar path to ensure students receive remedial education, holistic care, life skills, and extracurricular activities, equipping them to strengthen their foundation of learning. In FY2025, our education outreach programs impacted over 1.60 lakh+ students across India.
The Bank has deepened its commitment to enable youth, particularly women, to be empowered with entrepreneurial support and allied skills, through its employability initiatives. Our collaboration in programs such as the Million Entrepreneurs for Resilience and Abundance in Bharat (MERA Bharat) initiative aims to catalyze entrepreneurship for rural women by establishing 14 MERA Bharat Hubs. The program seeks to empower 10,000 rural women entrepreneurs, focusing on marginalized communities, by providing skill training, financial access, market linkages, and mentorship. A blended finance program Developing Entrepreneurial Ecosystems to Accelerate Green and Inclusive Entrepreneurship has also been undertaken, providing grants for capacity-building and ecosystem development to unlock catalytic capital through credit guarantees, further opening up larger financing pools for asset-based lending. This will ensure fund availability to de-risk lending and credit to women excluded from formal financial systems.
Key initiatives include:
- Remedial Education: Strengthening pedagogical practices and building teacher capacities in government schools to improve learning outcomes.
- Scholarships: Awarding scholarships to over 1,200 students, enabling access to world-class education.
- Skill Development and Entrepreneurial support: Offering training to youth, including PWDs in sectors such as hospitality, retail, and IT to bridge the skills-employment gap. Supporting budding entrepreneurs with skills training, hand-holding, and financial support through a blended finance model.
Livelihood Enhancement (through Bharat Sanjeevani)
Bharat Sanjeevani, BFILs flagship Corporate Social Responsibility (CSR) initiative, is dedicated to enhancing the livelihoods of small and marginal farmers who rely primarily on livestock for income. The program continues to deliver critical emergency response services directly to farmers doorsteps. By leveraging advanced technology, it has made significant strides in reducing livestock mortality and morbidity, boosting productivity, and promoting sustainable livestock management practices.
In FY2025, the program achieved substantial growth in scale, partnerships, and impact. A centralized IVR-based farmer helpline was launched, handling over 2.09 million calls from targeted beneficiaries. The number of livestock treated nearly doubled, rising from 6,34,000 in the previous year to 1.294 million, reflecting the programs deepening reach and effectiveness.
Under Bharat Sanjeevani 2.0, BFIL partnered with the Ministry of Rural Development, Government of India, to support livestock- based livelihoods under the Deendayal Antyodaya Yojana - National Rural Livelihood Mission (DAY-NRLM). Active across six states, this initiative facilitated the formation of livestock clusters through State Project Management Units (SPMUs) and national- level support structures. Sectoral specialists in dairy, goatery, poultry, fishery, and value chains were deployed to enhance program delivery.
A strategic partnership was established with the Ministry of Agriculture and Farmers Welfare to support the Central Sector Scheme on Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs). This intervention, covering 11 states in its initial phase, aims to empower FPOs through digital enablement, capacity building, and market development.
More details can be found in the CSR section of BFILs programs.
Inclusive Sports
IndusInd Bank is committed to promoting Inclusive Sports in the country through CSR Interventions aligned with schedule VII of section 135 of Companies Act 2013.
Details of our programs can be sought in the Indus For Sports section.
The Bank has consistently reinforced its dedication to building a more equitable and empowered society and among its various thematic focus areas, inclusive sports has emerged as a powerful vehicle for change, providing a platform for empowerment, dignity, and social integration, particularly for persons with disabilities and underserved youth. Our inclusive sports initiatives are grounded in the belief that sports can transcend barriers of gender, ability, geography, and socio-economic status. The Bank partners with leading organizations, NGOs, and grassroots institutions to support adaptive sports training, provide access to infrastructure, and build inclusive platforms for competition and excellence.
At the forefront of these efforts are the Banks initiatives in para- athletics and support to differently-abled sportspersons, enabling them to train at national and international levels. Through access to professional coaching, nutrition, equipment, and exposure to world-class tournaments, these athletes have not only gained recognition but have also inspired others in their communities to aspire and participate. Our programs are complemented by life skills workshops and health support, making the impact both meaningful and sustainable.
Key interventions:
- Sports for Women: Supporting women athletes, primarily from underprivileged backgrounds, in disciplines like wrestling, athletics, table tennis, and squash with state-of-the-art training facilities, expert coaching, sports science interventions, and holistic support covering skills development, financial aid, rehabilitation, and academic assistance.
- Sports for Persons with Disabilities (PWDs): Empowering Indian para-athletes and blind cricketers through access to world-class training, financial support, and connections with leading experts to unlock their full potential.
- Sports for the Underprivileged: Providing athletes from marginalized communities with comprehensive support, including access to advanced technologies, stipends, competition-related expenses, and personalized mentorship.
Other Areas
In FY2025, IndusInd Bank continued its commitment to creating meaningful change through targeted interventions across diverse areas. These include Armed Forces Welfare to dependents of veterans, setting up business incubation centres to train retired veterans and support their livelihood, and healthcare support through a cancer patients program. These projects have impacted 1,700+ beneficiaries in FY2025.
Through these initiatives, IndusInd Bank remains dedicated to transforming lives and fostering sustainable development across India.
Recognition & Awards of Excellence in CSR Initiatives
In FY2025, our commitment to sustainable development and inclusive growth was recognized through multiple prestigious awards, affirming our impact across key areas of Corporate Social Responsibility:
11th National CSR Summit & CSR Times Awards 2024
Category: Water Conservation and Management
Project Thematic Area: Watershed Development Program, Jharkhand Sustainable Environment
We were honored for our efforts in enhancing agricultural productivity through natural resource management. Implemented across six villages, impacting 2,900+ beneficiaries in Murhu Block, Khunti District, this initiative focused on soil and water conservation, adaptive sustainable agriculture, and organic farming practices, empowering local communities and promoting ecological resilience.
Sport India Awards 2024
Category: Outstanding CSR Contribution to High- Performance Athletes
Project Thematic Area: Inclusive Sports Portfolio
This award recognized our inclusive sports initiatives that support women, persons with disabilities (PWDs), and marginalized groups across India. Through targeted programs, we have fostered equitable access to sports, promoting empowerment, excellence in sports, and community integration, impacting 1,010+ athletes in FY2024.
The CSR Journal Excellence Awards 2024
Category: Agriculture & Rural Development
Project Thematic Area: Jawahar Integrated Development, Maharashtra Sustainable Environment
We implemented a comprehensive development program across seven villages in Jawahar Block, Palghar District. The project benefited over 8,000 individuals, focusing on water infrastructure, sustainable farming practices, and livelihood enhancement for tribal communities—contributing to long-term rural prosperity.
IIT Madras CSR Awards & Summit 2024
Category: Pioneer in Technology Award
Project Thematic Area: Holistic Rural Development Program
We were honored with the Pioneer in Technology Award for our innovative, research-driven Landscape Learning model and rainfall precipitation assessment system. Implemented across three aspirational districts, these technology-based models are designed to inform climate-responsive policy and enhance resilience in rural communities.
Times Now Champions of CSR 2024
Category: Excellence in Social Impact
Project Thematic Area: Overall CSR Portfolio
This award recognized our comprehensive efforts to drive transformative change across India. Through sustainable development, transparent community engagement, and responsible business practices, we continue to build a brighter, more equitable future for all.
CII Water Awards 2024
Category: Beyond the Fence - Noteworthy Project of the Year
Project Thematic Area: Holistic Rural Development Program - Virudhunagar, Tamil Nadu
We received this recognition for our work in rejuvenating the ancient natural tank system in Virudhunagar. This initiative significantly improved local water storage and conservation, contributing to long-term water security and agricultural sustainability in the region.
FICCI Water Awards 2024 (12th Edition)
Category: Community Initiatives
Project Thematic Area: Springshed Conservation and Management - South Odisha Sustainable Environment
We were recognized for our impactful work in enhancing water accessibility and agricultural productivity in two of South Odishas most underdeveloped blocks. This initiative benefited over 7,000 families across 82 villages by creating 1,333 acres of irrigated farmland, developing 541 acres of agroforestry, and conserving more than 37 lakh cubic metres of water. Furthermore, drinking water filters were installed in over 2,000 households, significantly improving community health and water security.
ICC Social Impact Awards 2025 (7th Edition)
Category: Environment Sustainability - Mega Enterprise
Project Thematic Area: Usharmukti Program - West Bengal Sustainable Environment
This award celebrates our collaborative efforts under the Usharmukti Project, a partnership with civil society organizations and the government. The initiative is revitalizing 15,000 hectares of barren land across six districts in the Paschimanchal region of West Bengal. By leveraging MGNREGA, the program is enhancing water security and livelihoods for 70,000 households through large-scale watershed development and sustainable natural resource management.
25. Sustainability
Sustainable Banking
Strategy: The Banks approach to sustainable banking is anchored in a centralized Sustainability Unit, which collaborates with cross- functional stakeholders to craft and align ESG strategies across departments. These inputs culminate in the Banks comprehensive ESG strategy, embedded in its strategic planning framework.
The Bank follows a three-year Planning Cycle, with sustainability considerations integrated at every stage, annual and quarterly goals are derived to drive consistent performance. In Planning Cycle 6 (FY2024-FY2026), ESG targets have been formally embedded in the goals of all Business Units (BUs), reflecting the Banks commitment to aligning core operations with sustainability- linked imperatives.
Governance Mechanism: Oversight and implementation of the ESG strategy are structured across multiple layers of internal governance. At the highest level, the CSR and Sustainability Committee of the Board takes the lead, followed by the Sustainability Council, the Sustainability Team, and designated Sustainability contacts within each Business Unit (BU).
The CSR & Sustainability Committee of Board
- Agrees, reviews, and evaluates the Banks sustainability strategy
- Offers industry perspective to the sustainability agenda of the Bank Sustainability Council
- Approves the sustainability strategy, goals, and performance
- Reviews alignment of sustainability policies with the business units
- Reviews compliance and reporting
The Sustainable Banking Unit is focused on embedding ESG in three specialized areas, viz. Business, Risk Underwriting and Operations:
1. ESG in business:
a. Highlights of ESG products: The Bank actively explores opportunities to expand its ESG-linked business across retail and corporate segments through strategic deal origination, innovative structuring, and new product development.
i. IndusWE: Significant committed capital and resources were allocated towards ESG, as the Bank launched a holistic offering for helping women entrepreneurs scale up their businesses. IndusWE is exclusively targeted at the Women Entrepreneur Community. A solution designed to empower women entrepreneurs, IndusWE, besides offering all banking products like loans, fixed deposits, current and savings account, and transaction banking services, also provides a wide range of non- financial services through partners.
- This is a unique, first-in-industry offering based on three pillars:
a. Learn: Mentoring/Training/Online workshops for upskilling
b. Connect: Facilitate industry connects, service providers such as legal, accounting, taxation, and HR, organize peer group meets and share success stories, and find incubator support.
c. Grow: Bank Finance, Accelerator funding, Equity, NBFC loans, grants from GOI and other foundations, and support on GOI Schemes for Women Entrepreneurs.
- Scalable model with committed capital outlay for the Bank as per the business plan.
- Partnership-focused model brings financing and non-finance solutions together to enable WEs to grow.
- During the year, an indusWE-Spotlight virtual awards event was conducted to recognize the top WE relationships in the Bank. in addition to engaging the sales teams and the large community of WE customers, the two best nominations from the Spotlight event were also awarded in a grand event at the Financial Express WE Awards.
By launching indusWE, the Bank reaffirms its commitment to diversity, equity, and inclusion, enabling a more progressive and equitable society. The initiative is firmly aligned with the Banks organizational values and strategic objectives, and it presents a significant opportunity to make a positive impact on the entrepreneurial ecosystem. The Bank has been invited by Niti Aayog and the Ministry of MSME for a country-wide tie-up on their platform https://wep.gov.in/as bankers to the WEs registered there. https://www.indusind.com/in/ en/business/induswe/about-induswe.html
ii. Sustainability/ Green/ Social Loans/ Bonds: To catalyze corporate participation in Indias Net Zero ambitions and address the growing challenges of climate change, indusind Bank has introduced a comprehensive suite of ESG-linked debt solutions. These partnership-driven offerings are designed to support corporate clients in mobilizing climate-positive and socially impactful capital through innovative financing instruments. The Banks ESG-oriented debt portfolio includes the following products: Green Bonds / Loans & Transition Bonds/Loans. Proceeds are intended to be utilized exclusively to finance or refinance the climate-positive projects/ end-uses.
- Social Bonds / Loans: Proceeds are intended to be utilized exclusively to finance projects that directly aim to address or mitigate a specific social issue(s) and/or seek to achieve positive social outcomes
- Sustainability Bonds / Loans: Proceeds are intended to be utilized to finance or refinance a combination of green and social end-uses as defined above
- Sustainability Linked Bonds / Loans:
Sustainability-linked finance is designed to incentivize issuers achievement of environmental, social, or governance targets through pricing incentives; performance-based debt instruments are issued with clear links to Sustainability Performance Targets (SPTs) and associated Key Performance indicators (KPis). Unlike Green/Social finance - (1) the end-use is not restricted (proceeds can be utilized for general corporate purposes) and (2) issuers commit to future improvement in sustainability outcomes at the entire entity level (and not some specific project); achievement of such targets is incentivized by way of commercial benefits.
III. Credit Guarantee Trust for Micro and Small Enterprises: At indusind Bank, we recognize the pivotal role that Micro and Small Enterprises (MSEs) play In driving Innovation, employment, and trade across the country. To support their growth ambitions, the Bank offers CGTMSE-backed loans as part of our sustainable banking strategy.
- Typically, small businesses face hindrances In obtaining business loans due to the lack of collateral. CGTMSE acts as a guarantee, enabling MSEs to access credit without offering physical collateral of up to Rs 500 lakh. As a part of sustainable banking, CGTMSE boosts MSEs lending by enhancing the credit guarantee portfolio for banks/Fis, having covered over 3,27,000 Informal enterprises under the scheme. https://www.indusind.com/in/en/business/ loans/cgtmse-backed-loans.html
Iv. IndusSolar: The Bank has developed a Rooftop Solar Loan Finance program, catering to MSE clients.
- This Initiative will promote sustainable energy practices and also envisions a future where small-scale businesses can harness the power of solar energy-linked innovation to enhance their operations and contribute to a greener and more sustainable economy.
- This will help MSE clients get significant cost savings on energy bills, leading to higher profits, and also give an opportunity to demonstrate dedication to minimizing the environmental Impact. https://www. indusind.com/in/en/business/loans/indus-solar- loan.html
- indusind Bank announced a strategic partnership with Tata Power Renewable Energy Limited (TPREL), to enable accessible and affordable solar financing for Micro and Small Enterprises (MSEs), thereby promoting widespread solar energy adoption amongst MSEs.
b. Sustainable Finance Portfolio:
The Bank has launched various sustainable finance initiatives and frameworks, leading to the successful completion of numerous financial deals. These efforts reflect the Banks commitment to Integrating sustainability Into Its core business. Ongoing discussions are focused on further advancing these Initiatives, aiming to drive even greater Impact.
The Banks sustainable finance portfolio for FY2024, which has been assured, represents approximately 47% of the Banks total advances. This marks a significant rise from the 33% reported In FY2018, highlighting the Banks rapid progress In embedding sustainable practices Into Its financial activities. This growth underscores the Banks strategic focus on sustainability and Its role In fostering a more sustainable economy.
c. Partnership with Development Finance Institutions:
The Bank Is actively partnering with funds, foundations, and Development Financial institutions (DFIs) to support high-impact sectors such as healthcare, agriculture, and microfinance.
As of March 2025, the Bank has established risk-sharing partnerships exceeding $80 million with Institutions such as USAID and DFC. Throughout FY2025, the Bank continued to finance new loans under these partnerships with DFIs. Furthermore, as of March 31,2025, the Bank continues to engage with DFIs and has an active risk-sharing partnership with USAiD and a trade assistance program with ADB. The Bank availed financing worth $100 million from DFIs In FY2025. Cumulatively, the Banks total financing from various DFIs stood at $517 million as of March 31, 2025.
2. ESG in Risk Underwriting:
The Bank Is committed to Integrating environmental and social considerations Into Its Investment strategy to promote long-term sustainable impact.
Sustainability
A. Environment & Social Management System (ESMS):
The Bank has Instituted a comprehensive Environment and Social Management System (ESMS) that mandates ESG risk evaluation for wholesale banking loan proposals exceeding a defined credit threshold. A comprehensive review of ESG risks Is performed alongside credit risks before final credit approval. Credit proposals from high-risk Industries undergo an in-depth ESG Risk Assessment by the Sustainability Banking unit and are recommended to the ESMS Committee for approval. The sustainability banking unit provides recommendations for monitoring, reporting, and mitigation of ESG risks associated with lending to high-risk projects/ entities. As of FY2025, over 80% (provisional) of the Banks total wholesale credit exposure was approved under the ESMS framework.
All ESMS proposals undergo an annual review process that Includes both an ESG risk assessment and a review of credit facilities.
https://www.indusind.com/content/dam/indusind-corporate/generic/ESMS.pdf
B. Climate Risk and Disclosure
I n alignment with the Reserve Bank of Indias evolving regulatory framework, the Bank is actively formulating policies that reflect the RBIs directives on climate and sustainability-related risks. The Sustainability Banking unit continues to monitor these developments to assess their Implications for the Bank. We are also proactively engaging with external consultants for Internal capacity building and preparing the Bank for upcoming regulatory changes. As a part of Its Internal capacity-building process, the Bank Is undertaking a climate risk assessment for a section of Its portfolio on a pilot basis.
ESG in Operations
The Bank aims to expand its ESG footprint in the Banks operations through initiatives such as:
A. Greening the Bank
- Carbon Neutrality Target 2032: With the Boards formal approval, the Bank has publicly committed to achieving carbon neutrality by 2032. A comprehensive roadmap has been developed, outlining key interventions for phased implementation. As part of this roadmap, the Bank has partnered with a domain-specialist technology vendor to deploy an automated ESG management platform. This platform will enable real-time tracking of Scope 1, 2, and 3 emissions, including financed emissions, and other ESG metrics. It is designed to minimize manual processes, ensure scalability, enhance audit readiness, and enable data-driven progress monitoring and decision-making.
- GHG emission intensity: The Bank has made substantial progress in reducing greenhouse gas (GHG) emissions. These significant reductions highlight the Banks strong commitment to sustainability and proactive approach in mitigating climate impact.
- Green IT is a definitive vision of the Bank with regular software updates; utilizing new technologies and streamlining other IT operations, including thin clients, virtual servers, and timers for signage for enhancing energy efficiency.
B. Awards and Ratings:
- ASSOCHAM: Winner at the ASSOCHAM Awards in the Best Environment Social and Governance category
- Euromoney: Ranked as a Market Leader-24 for ESG in India for the third consecutive year
- Financial Times: On June 5, 2024, the Financial Times announced its Asia-Pacific Climate Leaders 2024 list, featuring IndusInd Bank as one of the honorees.
- ESG Ratings: Updated as of March 2025:
- CRISIL ESG: The Bank secured a CRISIL ESG rating of 67/ 100 as of March 20, 2025, which is categorized as Strong under their scoring methodology.
- SES ESG Research: SEBI-approved ESG rating provider (ERP), SES ESG Research Pvt. Ltd. has assigned IndusInd Bank an Environmental, Social, and Governance (ESG) Score (adjusted) of 72.0, based on the Banks fiscal 2024 disclosures and other publicly available data.
- S&P Global CSA: The Bank has been assigned an S&P Global ESG Score of 51, surpassing the Industry Mean scores on all three parameters of Environment (E), Social (S), and Governance (G).
- Morgan Stanley Capital International (MSCI): The MSCI has upgraded the ESG rating of IndusInd Bank from BBB to A in the fiscal year 2024.
- Assurances: In addition to meeting the mandatory assurance requirements, the Bank obtained assurance on ESG initiatives and disclosures from reputable third-party firms for:
- Sustainable Finance portfolio
- Green Fixed Deposits
- Integrated Report
- GHG Emissions
The assurances have been uploaded to the Banks website.
- Policies: During the year, the Bank reviewed and revised all its policies to align with the latest ESG trends and relevant regulations. The Bank has also enhanced transparency by making these policies available on its website: https://www. indusind.com/in/en/sustainability/policies.html
- Employee Volunteering
FY2025 marked a milestone year for IndusInd Banks Employee Volunteering Program, witnessing a substantial rise in both participation and social impact. Employees contributed 14,347 volunteering hours, reflecting a 160% y-o-y growth, across 57 structured events, a 124% increase from the previous year. Of these, 52 were in-person initiatives held across 24 cities, from metros to smaller towns, while 5 events were conducted virtually, broadening accessibility and inclusivity.
A marquee initiative in FY2025 was the second edition of the IndusInd Bank Volunteering Week (IBLVW 2.0). Through collective efforts, volunteers positively impacted the lives of over 17,000 underprivileged children in 26 government schools across 23 cities. A key highlight was Artshala, where over 68,000 sq. ft. of school walls were artistically transformed, creating vibrant and inspiring learning environments. As part of Project Spark, volunteers mentored 55 students at a government school in Mumbai, guiding them to express their aspirations through art. Moreover, 500 soft toys and 548 notebooks were handmade and donated to students by volunteers. In virtual events, volunteers developed 518 learning aids in multiple languages to support government school children and teachers.
Environmental sustainability remained a key focus for employees and was prominently reflected in the years initiatives. As part of a tree plantation drive conducted across 11 cities, employees planted over 4,400 native trees, contributing to an estimated carbon offset of 58 metric tonnes and generating over 100 metric tonnes of oxygen projected over the next three years.
The Bank also launched its first-ever Water Month, during which volunteers removed 137 kg of waste from two ponds and prepared 6,870 seedling bags, resulting in the plantation of 2,474 saplings along pond banks. Furthermore, over 3,700 employees pledged to adopt water conservation practices in their daily lives.
Further promoting diversity and inclusion, the Bank also hosted its first women-only volunteering event at the Mumbai Head Office. More than 25 women employees engaged in one-on-one mentoring sessions with Adivasi women from Sanjay Gandhi National Park, supporting them in building financial awareness.
The program also extended impactful support to persons with disabilities. Volunteers recorded over 1,000 pages of content, creating five audiobooks for 160 visually impaired students preparing for competitive exams. They also designed and developed tactile cards, color pop-up cards, and sensory boards, benefitting 230 visually challenged and 180 autistic children.
Beyond the educational and environmental efforts, employees brought joy and support to vulnerable communities. They engaged with residents of shelter homes, restored two community farms benefiting 50 Adivasi families, created and installed bird feeders, and crafted heartfelt Diwali greeting cards for girls at a shelter home, commemorating the International Day of the Girl Child.
FY2025 also saw enthusiastic participation by a number of first-time volunteers, with the program receiving encouraging feedback from employees across the Bank. The continued growth of the Employee Volunteering Program reflects IndusInd Banks deepening commitment to building not just financial capital, but also social capital through collective compassion and action.
- ESG Advocacy: Industry-level Advocacy & Collaboration
- Member of the India-UK Sustainable Finance Working Group, a multi-disciplinary policy-level body.
- Member of the IFSCA Committee on Sustainable Finance for mobilizing capital inflows.
- Co-Chair of ASSOCHAM Sustainable Finance Committee.
- Advisor on the Investment Committee of SAMRIDH, a platform providing equity, debt, and grants sponsored by USAID for supporting innovations in healthcare.
26. Internal Control Systems and their Adequacy
Operational Controls
The Bank has sharpened internal controls and compliance through the following:
- Standard Operating Procedures (SOPs) have been defined for processes at branches to ensure consistency of delivery with the expanding branch network.
- The Branch Monitoring Unit is entrusted with the regular monitoring of branch operations.
- The Process Adherence and Quality function has been operationalized to attain uniformity in processes followed by branches to minimize operational risk.
Internal Audit
The Bank has a robust, distinct and dedicated Internal Audit function performing an independent evaluation of the adequacy and effectiveness of internal controls, information security controls, risk management and governance systems and processes on an ongoing basis and providing a reasonable assurance that the policies, regulations and internal standards defined for management of the various risks in the Bank are operating effectively. The Internal Audit Group is manned by appropriately skilled, experienced, and qualified personnel.
In congruence with the Reserve Bank of Indias Guidelines on Risk-based Internal Audit (RBIA), the Bank has adopted a comprehensive Internal Audit Policy, and the Internal Audit function undertakes a risk-based audit of the Banks businesses.
An Audit Plan is drawn up based on a calculation of the total inherent risk of a Unit and the Control Risk Score. Accordingly, the audits are undertaken at a frequency synchronized to the risk profile of each unit in line with the guidelines relating to risk- based internal audit. The audit function also serves as an advisory by recommending improvements in processes and service quality, wherever deemed fit.
To strengthen the controls in the Bank and to achieve continuous real-time supervision and control, critical units of the Bank are subjected to independent concurrent audits by reputed audit firms.
The Head - Internal Audit functionally reports to the Audit Committee of the Board (ACB), ensuring his independence, and for administrative purposes, reports to the Managing Director & CEO. The ACB reviews the efficacy of the Internal Audit Department, the effectiveness of controls laid down by the Bank and compliance with internal and regulatory guidelines, thus ensuring alignment with the global best practices on corporate governance.
Compliance
Compliance Risk Is defined by the Basel Committee as the risk of legal or regulatory sanctions, financial loss, or loss to the reputation that a bank may suffer as a result of its failure to comply with all applicable laws, regulations, codes of conduct and standards of good practice. It includes the conduct of banking and financial business (including conflicts of interest), privacy and data protection, and in particular, provisions on the prevention of money laundering and combating financing of terrorism.
Compliance is an integral part of the culture at IndusInd Bank. The Bank accords the highest priority to compliance with laws, regulations, and internal rules for all of its businesses and operations. It is the responsibility of every staff member to perform their functions within the framework of the statutory and regulatory regime.
The tone of the compliance culture within the Bank starts from the top. The Banks Board of Directors is responsible for overseeing the management of the Banks compliance risk. The Bank has formulated a Compliance Policy, enumerating the Compliance Philosophy and establishing an independent compliance function in the Bank.
The strong compliance culture is ensured through detailed policies and guidelines, strong procedures, a mechanism of regular reviews, monitoring and testing, regular messages from the top management on the importance of compliance and zero-tolerance towards non-compliance, and compliance awareness programs.
The Compliance function plays a vital role in ensuring that the overall business of the Bank is conducted within the ambit of rules, regulations, laws, and internal guidelines. The function assists the Board and the top management in efficiently managing the compliance risk. The Compliance function works as a nodal link between the Bank and the regulatory authorities and other bodies, namely RBI, SEBI, IRDAI, PFRDA, DFS, UIDAI, a nd IBA, a mong others, a nd provides guidance to all verticals in the Bank on applicable regulatory framework, i.e., regulatory guidelines, statutes, and advisories issued by these authorities.
The Bank has adopted three lines of defence: operations and business; internal governance, including compliance, risk management; and internal audit—to ensure a strong compliance culture at all levels.
Vigilance
The Vigilance Department has been functional in the Bank since October 2008, and its objective is to enhance the level of managerial and operational efficiency and effectiveness. The aim is to prevent, detect, and curb opportunities for corruption, malpractice, or misconduct on the part of the employees and take deterrent/ preventive action to ensure the highest standards of integrity, governance, and ethical practices.
The Whistle Blower Policy was adopted by the Bank in 2009, to provide a channel to various stakeholders, viz., employees, customers, suppliers, shareholders, etc., to bring to the notice, any issue involving compromise/violation of ethical norms, and legal or regulatory provisions, among others, without any fear of reprisal, retaliation, discrimination or harassment of any kind.
The Banks policy and processes in this regard are in complete sync with all statutory and regulatory guidelines on vigil mechanism to ensure a compliant, fraud-free, and ethical work environment.
Corporate Legal Department
The mission of the Corporate Legal Department (CLD) is aligned with the Banks mission of consistently adding value to all our stakeholders by enhancing the sustainability of the organization and emerging as Indias most convenient Bank with financial metrics amongst the best in the industry. CLD plays an important role in the day-to-day functioning ofthe Bank and helps the different business units in the Bank in making good decisions and safeguarding the Bank against legal risks through authoritative, actionable, and impartial legal advice and services. CLD has also been instrumental in developing a comprehensive set of standard documents for various types of credit and non-credit products and is responsible for ensuring legal compliance with applicable laws and ensuring that the documentation entered into by the Bank with the borrowers/vendors/service providers is legally valid and enforceable. In addition to this, CLD supports the business units in drafting and negotiation of all non-standard legal agreements, assists in the preparation of the Banks policies and directives, handling legal cases filed against the Bank and its employees and issues opinions on diverse range of substantive and procedural questions of law affecting the business and operations of the Bank.
Customer Service
In FY2025, the Bank continued its focus on building strong and lasting customer relationships to become the most preferred bank for our customers, by delivering Seamless, Easy, Fast, and Transparent services across their lifecycle stages.
In line with this objective, the Bank places high impetus on understanding the evolving needs of the customers, designing product and technology-enabled propositions, reimagining customer journeys, leveraging technology to enable service channels, and building a customer at the core philosophy within the organization.
The Banks Client Experience Unit actively Captures the Voice of Customers through transaction and engagement feedback, via digital mode. The Bank has adopted the Net Promoter Score (NPS) as a key metric to measure Customer Experience and to drive improvement actions across its various customer channels and journeys. The NPS program has been embedded across the Bank, covering the customer lifecycle stages, and helps us to understand better whats working well and what needs improvement, and to prioritize our improvement efforts accordingly.
The Bank is making steady progress in its commitment to deliver a superior customer service experience as exhibited by the increase in the Promoters (happy customers) trends and reduction in Detractors (unhappy customers) trends, resulting in improved Net Promoter Score across journeys. The Voice of the customer trends along with the performance on internal service vectors, helps to assess and enhance the client experience and service delivery standards for every channel.
To gauge and assure the service superiority of a very important touchpoint i.e. our branch network, the Bank conducts independent evaluations through an external mystery audit firm. These outside assessments offer insights on branch hygiene, upkeep and service experience, and guides the leadership towards focussed actions to improve experience.
The Bank has also laid a diligent process of reviewing products and services before they are launched for the customers to ensure a seamless experience post launch. Further, to support the product and service improvement journey, Customer feedback is also collected through Branch Level Customer Service Committee (BLCSC) meetings on a monthly basis.
Contact Centre is an important touchpoint that plays a crucial role in addressing the complex issues of customers and in guiding them with their queries. The Bank is deploying several technology- enabled solutions for enhancing self-service capability at the contact centre for the ease and convenience of the customers. This is also helping in improving operational efficiency in the process. Enhancement in Contact Centre services, together with upgrades in digital platforms (e.g., Indie), will empower our customers with seamless banking services at their fingertips.
Client Experience often reflects how the organizations employees feel about their work. The Bank believes that there is a direct connection between employee experience and customer experience and that happy and supported employees are more likely to deliver enhanced customer experiences. Considering the employee as one of the critical stakeholders, the Bank has continuously placed renewed thrust on increasing employee support and engagement by following a three-pronged approach:
- Continuous knowledge enrichment and skill enhancement through learning and development initiatives to enable faster and first-time right service delivery.
- Empowering its frontline employees to facilitate the speedy resolution of customer issues at the first point of contact.
- Recognizing employees delivering exemplary service to the customers and duly appreciating them to elevate customer- centric culture within the Bank.
Moreover, to ensure a positive client experience, it is imperative to have synergies across all teams in order to bridge gaps. With this objective, the Bank captures and measures Voice of Internal Customers (i.e., Employees). This not only allows employees to share their feedback but also allows driving improvement through benchmarks for internal departments. Improving the voice of the internal customer rating is a testimony of the efforts being taken to build a positive internal service culture.
Providing an exceptional client experience is an ongoing process, and IndusInd Bank is committed to the continuous process of understanding its customers and evolving its customer experience strategy to meet their changing requirements.
Grievance Redressal Mechanism
The Bank follows the Board-approved Grievance Redressal Policy, which lays down a defined escalation process for all customer complaints received at branches and Corporate Offices, within the overall framework of RBI guidelines.
The Bank has also appointed an Internal Ombudsman, and complaints that are rejected and/or partial relief is being provided to the Complainant, are referred to it for an independent review.
A Quarterly Report related to complaints received and redressed is placed before the Standing Committee on Customer Service (SCCS), Customer Service Committee of the Board (CSCB), and Board of Directors (BOD). Based on the recurrence of complaints in specific areas, causative factors are identified and remedial measures are initiated.
Customers can contact their respective Branch Manager, call the Banks Contact Centre on the toll-free number, write to the dedicated email IDs or access the Banks website, www.indusind. com to lodge their grievances in a simplified way and get their complaints redressed without delay.
Details of the Nodal Officer/Regional Managers and Integrated Ombudsman Scheme, 2021 of the Reserve Bank of India are displayed at branches and hosted on the Banks website.
Shareholder Satisfaction
At IndusInd Bank, we recognize the importance of regular and transparent communication with our shareholders. Shareholders shall continue to receive best-of-the-class services and be promptly informed of the developments in the Bank.
Contact details of shareholders such as e-mail IDs, mobile numbers, and telephone numbers are obtained, to communicate with them about developments of the Bank. This direct communication is in addition to the regular dissemination of information through usual channels such as the stock exchanges, press, the Banks website, RTAs website, etc.
The practice of sending SMS/e-mail messages to shareholders continues, informing about Board meetings for Quarterly / Annual Financial Results, and forwarding snapshots of the results.
The Bank has been at the forefront of Green Initiatives and aspires to graduate to paperless disclosures and compliances continually.
With the implementation of the Companies Act, 2013, companies are permitted to send Annual Reports and other communications electronically to shareholders who have registered their email addresses with the Bank or made them available through the Depository.
Shareholders are requested to furnish their e-mail IDs at investor? indusind.com or by sending a request in writing to the Secretarial & Investor Services Office to help accelerate the migration to paperless communication.
The full text of the Annual Report is also made available in an easily navigable format on the website www.indusind.com under the link Investors/Reports and Presentation/Annual Reports.
The shareholders are also informed about the process for claiming the dividend amounts lying unclaimed with the Bank.
As regards the transmission of securities, in the case of securities held in physical mode (in a single name, without nomination), SEBI vide Circular No. SEBI/HO/MIRSD/RTAMB/P/CIR/2022/65 dated, May 18, 2022 has prescribed a threshold limit of up to Rs5,00,000 (rupees five lakhs only) in case of securities held in physical mode, i.e., market value of securities per folio, as on the date of the application for transmission, for following simplified documentation.
SEBI has, however, empowered issuer companies to enhance the value of such securities at their discretion. The Bank already increased the threshold limit for shares held in physical mode up to Rs 10 lakh at its Board Meeting held on October 13, 2014.
Considering the difficulties faced by legal heir(s) of deceased shareholder, in obtaining of Succession Certificate / Probate / Letters of Administration, the Board of Directors of the Bank has, for the convenience of shareholders, delegated the authority to the Share Transfer Committee for approving transmission of securities held in physical mode of market value of securities of up to Rs10,00,000 (Rupees Ten lakhs only) subject to compliance with the simplified documentation procedure prescribed by SEBI.
Shareholders are requested to note that pursuant to provisions of Section 124 of the Companies Act, 2013, the amounts of dividend remaining unpaid or unclaimed for a period of 7 years from the date of their transfer to the Banks Unpaid Dividend Accounts are required to be transferred to the Investor Education and Protection Fund (IEPF) established by the Central Government.
Further, the Ministry of Corporate Affairs has made effective the provisions of Section 124(6) of the Companies Act 2013, which requires that all shares in respect of which a dividend has not been paid or claimed for seven consecutive years or more be transferred to the IEPF Authority.
The Bank has sent intimation to shareholders on May 15, 2025, in respect of the shares on which dividend for FY2018 had remained unpaid or unclaimed for seven consecutive years or more, requesting them to claim such dividend on or before August 30, 2025, so as to avoid the corresponding shares from being transferred to the IEPF Authority.
Notice in this regard was also published in Financial Express (all editions) and Loksatta (Pune Region) on May 16, 2025.
The detailed procedure for claiming the shares / Dividend amounts which have been transferred to IEPF Authority is available on the website of the IEPF Authority at: http:/www.iepf.gov.in/IEPFA/ refund.html.
Shareholders are requested to contact MUFG Intime India Pvt. Ltd., Registrar & Share Transfer Agent of The Bank (contact details and office address given in the Notice) / Secretarial and Investor Services Department of the Bank, for claiming unclaimed dividends standing in their name.
The information pertaining to unpaid or unclaimed dividends, the details of such shareholders and the shares due for transfer to the IEPF Authority is also available on the Banks website at www. indusind.com.
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