IndusInd Bank Limited

IndusInd Bank Limited is a new-generation 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 the 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 Civilization.