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IndusInd Bank Limited is a new-generation[a] Indian bank headquartered in Pune. The bank offers commercial, transactional and electronic banking products and services. IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. IndusInd Bank is the first among the new-generation private banks in India.
The bank started its operations with ₹100 crores (10 billion) in capital, of which ₹60 crores were raised by Indian residents and ₹40 crores were raised by Non-Resident Indians (NRI). The bank specializes in retail banking services and is also working on expanding its network of branches all across the country. According to the bank, its name is derived from the Indus Valley Civilisation.
As on 31 December 2018, IndusInd Bank had 1,558 branches, and 2453 ATMs spread across different geographical locations of the country. It also has representative offices in London, Dubai and Abu Dhabi. Mumbai has the largest number of bank branches followed by New Delhi and Chennai. The bank has proposed to double its branch count to 1200 by March 2019.[