Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX Oct 26 2020 12:00
    40,145.50 -540.00 (-1.33%)
  • NIFTY Oct 26 2020 12:00
    11,767.75 -162.60 (-1.36%)
  • SENSEX Oct 26 2020 12:00
    40,145.50 -540.00 (-1.33%)
  • NIFTY Oct 26 2020 12:00
    11,767.75 -162.60 (-1.36%)
  • Nasdaq Oct 24 2020 04:30
    11,548.28 +42.27 ( +0.37%)
  • DJIA Oct 24 2020 04:30
    28,335.57 -28.09 (-0.10%)
  • S&P 500 Oct 24 2020 04:30
    3,465.39 +11.90 ( +0.34%)
  • Hang Seng Oct 23 2020 02:10
    24,918.78 +132.65 ( +0.54%)
  • Crude Oil Oct 26 2020 09:15
    2,862.00 -77.00 (-2.62%)
  • Gold Oct 26 2020 09:15
    50,938.00 +99.00 ( +0.19%)
  • Silver Oct 26 2020 09:15
    62,064.00 -385.00 (-0.62%)
  • Copper Oct 26 2020 09:07
    540.95 -4.15 (-0.76%)
  • Pound / Rupee Dec 23 2016 22:30
    96.37 +0.37 ( +0.39%)
  • Dollar / Rupee Dec 23 2016 22:30
    73.53 +0.08 ( +0.11%)
  • Euro / Rupee Dec 23 2016 22:30
    87.01 -0.07 (-0.08%)
  • Yen / Rupee Dec 23 2016 22:30
    0.70 0.00 ( +0.23%)

IndusInd Bank Ltd

BSE Code : 532187 | NSE Symbol : INDUSINDBK | ISIN:INE095A01012| SECTOR : Banks |

NSE BSE
 
SMC up arrow

616.65

8.50 (1.40%) Volume 280564

26-Oct-2020 EOD

Prev. Close

608.15

Open Price

617.00

Bid Price (QTY)

616.65(1302)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 633.30 - 613.55

52 wk High/Low 1,596.55 - 235.55

Key Stats

MARKET CAP (RS CR) 46621.12
P/E 13.53
BOOK VALUE (RS) 489.0063495
DIV (%) 0
MARKET LOT 1
EPS (TTM) 45.55
PRICE/BOOK 1.26031083365309
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 15.04
4

News & Announcements

26-Oct-2020

IndusInd Bank gains on buzz of takeover; promoters clarify rumor baseless

24-Oct-2020

IndusInd Bank to announce Quarterly Result

21-Oct-2020

IndusInd Bank Ltd Spikes 3.3%, S&P BSE BANKEX index Rises 1.53%

19-Oct-2020

IndusInd Bank Ltd - Statement Of Investor Complaints For The Quarter Ended September 2020

24-Oct-2020

IndusInd Bank to announce Quarterly Result

24-Sep-2020

IndusInd Bank allots 1.38 lakh equity shares under ESOS

04-Sep-2020

IndusInd Bank allots 1.51 crore equity shares on preferential basis

28-Aug-2020

IndusInd Bank schedules AGM

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
AU Small Finance Bank Ltd 540611 AUBANK
Axis Bank Ltd 532215 AXISBANK
Bandhan Bank Ltd 541153 BANDHANBNK
Bank of Madura Ltd (Merged) 531966 BANKMADURA
Bank of Punjab Ltd(merged) 500070 BANKPUNJAB
Bank of Rajasthan Ltd(merged) 500019 BANKRAJAS
Centurion Bank of Punjab Ltd(merged) 532273 CENTBOP
City Union Bank Ltd 532210 CUB
CSB Bank Ltd 542867 CSBBANK
DCB Bank Ltd 532772 DCBBANK
Dhanlaxmi Bank Ltd 532180 DHANBANK
Federal Bank Ltd 500469 FEDERALBNK
Global Trust Bank Ltd (Merged) 500161 GLOBLTRUST
HDFC Bank Ltd 500180 HDFCBANK
ICICI Bank Ltd 532174 ICICIBANK
IDBI Bank Ltd(merged) 532235 IDBIBANK
IDBI Bank Ltd 500116 IDBI
IDFC First Bank Ltd 539437 IDFCFIRSTB
ING Vysya Bank Ltd(Merged) 531807 INGVYSYABK
Jammu and Kashmir Bank Ltd 532209 J&KBANK
Karnataka Bank Ltd 532652 KTKBANK
Karur Vysya Bank Ltd 590003 KARURVYSYA
Kotak Mahindra Bank Ltd 500247 KOTAKBANK
Lakshmi Vilas Bank Ltd 534690 LAKSHVILAS
Nedungadi Bank Ltd (Merged) 511264 NEDUNGBANK
RBL Bank Ltd 540065 RBLBANK
South Indian Bank Ltd 532218 SOUTHBANK
Standard Chartered PLC 580001 STAN
Times Bank Ltd (merged) 532252 TIMESBANK
Ujjivan Small Finance Bank Ltd 542904 UJJIVANSFB
United Western Bank Ltd(merged) 500430 UNIWESTBNK
Yes Bank Ltd 532648 YESBANK

Share Holding

Category No. of shares Percentage
Total Foreign 434456984 57.43
Total Institutions 119453911 15.79
Total Govt Holding 273 0.00
Total Non Promoter Corporate Holding 22174150 2.93
Total Promoters 101745025 13.45
Total Public & others 78621480 10.39
Total 756451823 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About IndusInd Bank Ltd

IndusInd Bank Ltd is one of the new generation private sector banks in India. The Bank's business lines include corporate banking, retail banking, treasury and foreign exchange, investment banking, capital markets, non-resident Indian/high-net-worth individual banking, and information technology. The Bank business divisions include Retail/ Consumer Banking, Consumer Finance, Global Markets Group, Corporate & Commercial Banking, Transaction Banking Group and Investment Banking. As on 31 December 2017, the bank had 1,320 branches and 2,162 automated teller machines (ATMs) spread across 702 geographical locations of the country. The bank also has representative offices in London, Dubai and Abu Dhabi. The bank provides multi-channel facilities, which includes automated teller machines (ATMs), net banking, mobile banking, phone banking, multi-city banking and international debit cards. The Bank has multi-lateral tie-ups with other banks providing access to more than 18000 ATMs for their customers. They enjoy clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. They also offer DP facilities for stock and commodity segments. IndusInd Bank Ltd was incorporated in the year 1994 and was promoted by Mr Srichand P Hinduja, a leading Non-Resident Indian businessman and head of the Hinduja Group. The Bank started their operations with a capital amount of Rs 1,000 million among which Rs 600 million was donated by the Indian Residents and Rs.400 million was raised by the Non-Resident Indians. The bank is a pioneer in launching internet banking. They are rated as one of the Top Performing Banks in various survey reports. During the year 2001-02, the Bank increased their network from 36 to 77. During the year 2002-03, the Bank entered into electronic money transfer arrangements with MoneyGram International Ltd, USA and Zoha Inc USA for attracting beneficiaries of small value remittance from overseas. Thus, they became the first to implement the RBI-Electronic Funds Transfer scheme. Also, they entered into bullion trading activities and financial services to Indian entities setting up joint ventures and wholly-owned subsidiaries abroad. IndusInd Enterprises & Finance Ltd, a Non-Banking Finance company and one of the promoters of the Bank amalgamated with the Bank with effect from July 11, 2003. As a result, IndusInd Information Technology Ltd became a subsidiary of the Bank. During the year, the bank increased their network to 127 from 77 outlets. During the year 2003-04, the Bank opened their representative office in Dubai. They launched their debit card with the name International Power Card. They opened 8 new branches and 2 new extension counters during the year. Also, a total of 31 new ATMs were installed, which includes 15 on-site ATMs and 16 off-site ATMs. Ashok Leyland Finance Ltd, a leading Non-Banking Finance company merged with the Bank with effect from June 11, 2004. During the year 2004-05, the Bank signed an agreement with NCDEX as clearing banker. They launched various innovative products and services, which includes International Mahila Card, Mobile Top-ups, Utility Bill Payment etc. They opened their second representative office in London. Also, the Bank entered bilateral tie-up with Corporation Bank and with UTI Bank, in which the Bank's customer can utilize their ATMs across the country. During the year 2006-07, the Bank added a number of new business and product lines which includes the launch of Indus Gold and Indus Gift Card and E-Remittance facility. They made a tie-up with Religare Securities for extending Portfolio Management services. They also made a tie up with Aviva Life Insurance for bancassurance. The Bank opened 33 branches and set up 41 offsite ATMs during the year. During the year 2007-08, the Bank signed an agreement with National Multi Commodity Exchange Ltd (NMCE) to become their clearing bank. They made a strategic tie-up with Religare Securities for offering a value-added 3-in-1 savings accounts-linked package to customers - comprising a savings bank account, a depository account, and an Internet trading account. Also, they made a strategic partnership with Cholamandalam MS for bancassurance. During the year 2007-08, the Bank was awarded the highest A1+ rating for their Certificates of Deposit by ICRA and the highest P1+ rating for their Fixed Deposits and Certificates of Deposit by CRISIL. They also received recognition by BSE and NASSCOM Foundation for the Best Corporate Social Responsibility Practice Category. In July 2008, the Bank was awarded The Smart Workplace Award by Economic Times in association with Acer and Intel for enhancing the productivity of the employees through optimum use of resources as well as technology. During the year 2008-09, the Bank launched various new products and services which were targeted at building wealth management capabilities as well as enhancing the existing banking channels. The Bank launched the Gold and Investment verticals, which contributed in excess of Rs 5 crore of revenue in the first year of operations. They also launched two new channels - Wealth Relationship Managers and the Central Acquisition Team (CAT). The Bank commenced the process of opening 'new look branches' to enhance the banking experience of customers and to provide personal attention to their needs. They already opened five branches with the new look at Bandra, Kolkata, Ludhiana, Vadodara and Lucknow. The Consumer Banking opened their new Administrative Office in Gurgaon. Also, the Bank's Consumer Finance Division moved into their own four-storey building at G. N. Chetty Road in Chennai. In August 2008, the Bank acquired the micro-finance portfolio from SKS Mircofinance. In October 2008, they signed a co-partner agreement with World Gold Council for joint promotion of packaged and certified gold coins and ingots in India. In November 2008, the Bank entered into an agreement with TVS Motor Company where the Bank will provide structured inventory funding to TVS Motors' dealers. In January 2009, they entered into a MoU with CRISIL to rate the Bank's clients. During the year 2009-10, the Bank opened 30 new branches and 141 ATMs as a part of the strategy of expanding banking network to different locations in the country. The Bank re-launched the Non-Resident (NR) business, which acquired 12,000 new NR clients within a short span and also mobilized significant FCNR book and savings account book. During the year, the Corporate Office in Mumbai moved into new spacious premises at One Indiabulls Centre, Elphinstone Road (W), Mumbai. The Bank continued the process of opening new-look branches/off-site ATMs at various locations, viz., branches in Chennai, Secunderabad, Phagwara, Coimbatore, Pune, Hapur and off-site ATMs in 114 locations enhancing the customer experiences at primary touchpoints. During the year 2010-11, the Bank opened 90 new branches and set up 97 ATMs. As at the year ended March 31, 2011, the Bank had a total of 300 branches spread across 212 geographical locations and 594 ATMs, inclusive of 340 off-site ATMs. In October 2011, the Bank entered into an arrangement with Moscow-based commercial bank JCB Unistream for India bound remittances. In February 2011, they signed MoU with Mahindra & Mahindra Ltd in which the Bank will be one of the preferred financiers for the entire range of vehicles sold by Mahindra & Mahindra Ltd and also extend passenger and commercial vehicle finance to their customers. In June 2011, the Bank signed an agreement with Atos Worldline India (Venture Infotek) for point of sale (POS) acquiring solutions. During the year 2011-12, the Bank opened 100 new branches and 106 ATMs. As at the end of the year, the Bank had a total of 400 branches spread across 270 geographical locations and 692 ATMs inclusive of 345 off-site ATMs. The Bank launched three new services: Cash-on-Mobile, Direct Connect and Quick Redeem during the year. These new services are aimed at making banking easy and convenient for the customers. The Bank purchased the Credit Cards business of Deutsche Bank during the year. The launch of IndusInd Bank's Credit Cards business through this acquisition has fast tracked the Cards' business growth plans. On 24 July 2012, IndusInd Bank and Suzuki Motorcycle India Pvt. Ltd. (SMIPL) signed MOU whereby IndusInd Bank will be the preferred financier to extend retail finance to SMIPL's two wheeler customers across the country. On 16 August 2012, IndusInd Bank announced the launch of its foreign currency pre-paid travel card - the Indus Forex card. On 13 December 2012, IndusInd Bank announced the successful implementation of Finacle core banking across all its branches to facilitate the delivery of state-of-the-art banking services. IndusInd Bank on 1 April 2013 was included in the NIFTY 50 benchmark index of the National Stock Exchange (NSE). On 29 May 2013, IndusInd Bank and American Express announced the formation of a strategic partnership with the launch of the new IndusInd Bank Iconia American Express credit card. On 4 August 2014, Jet Airways, India's premier international airline, and IndusInd Bank announced a strategic partnership to launch a suite of Jet Airways IndusInd Bank co-branded credit cards. On 29 September 2014, IndusInd Bank inaugurated its first digital branch at IndusInd Cybercity Rapid Metro station, Gurgaon. With this launch, IndusInd Bank became the first bank in India to have a fully digital branch at a metro station, whose branding rights are owned by the bank. On 10 April 2015, IndusInd Bank announced that it has entered into an agreement with Royal Bank of Scotland N.V. to acquire its diamond and jewellery financing business in India and related deposits portfolio. On 27 July 2015, IndusInd Bank announced that it had completed the acquisition of Royal Bank of Scotland's diamond and jewellery financing business in India. The acquired loan portfolio is approximately Rs 4100 crore. On 20 May 2015, Worldpay, the global leader in payments, announced that it has partnered with IndusInd Bank to offer domestic acquiring services in India. On 3 July 2015, IndusInd Bank completed the allotment of 5.12 crore equity shares to Qualified Institutional Buyers (QIBs) at issue price of Rs 845 per share, thereby raising Rs 4327.98 crore. On 6 August 2016, IndusInd Bank completed the allotment of 87.81 lakh equity shares to the promoters of the bank on a preferential basis at issue price of Rs 857.20 per equity share, thereby raising Rs 752.74 crore. On 12 January 2016, IndusInd Bank announced that it has partnered with online payment solution leader PayU India to redefine the digital experience for Indian consumers, by bringing the full suite of consumer banking products online and powering the same through payment innovations and online eco-systems enabled by PayU India. On 23 May 2016, IndusInd Bank announced that it had signed a Corporate Agency agreement for distributing Reliance General Insurance's insurance products to its customers. On 12 July 2016, IndusInd Bank announced the opening of an International Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) to meet the requirements of offshore banking operations from India. IndusInd Bank's International Banking Unit (IBU) will provide the bank access to international financial markets and will allow IndusInd Bank to deliver a complete range of products to its clients with foreign currency funding requirements. On 14 March 2017, IndusInd Bank announced that it has entered into an agreement with Infrastructure Leasing and Financial Services Ltd. (IL&FS), the promoter shareholders of IL&FS Securities Services Ltd., (ISSL), to acquire 100% of ISSL. ISSL is a leading capital market intermediary for professional clearing, depository and custodial services. On 29 March 2017, IndusInd Bank announced extension of its agreement with Lohia Auto Industries. IndusInd Bank would be the s preferred financier for retail vehicle finance for all Lohia 3-wheeler electric and diesel models. On 8 June 2017, Overseas Private Investment Corporation (OPIC) and IndusInd Bank executed a finance agreement for a $225 million loan supporting the expansion of the IndusInd Bank's micro, small, and medium enterprise (MSME) lending programs across India. On 15 September 2017, Asian Development Bank (ADB) signed a loan of up to $200 million with IndusInd Bank to provide finance to low income women borrowers in rural India. The 7-year senior loan will go towards IndusInd Bank's microfinance activities. On 14 October 2017, IndusInd Bank and Bharat Financial Inclusion announced a merger of the two entities to create a stronger and more sustainable platform for financial inclusion. The scheme contemplates merger of Bharat Financial with IndusInd and simultaneous transfer of Bharat Financial Inclusion's Business Correspondent operations into a Wholly Owned Subsidiary of IndusInd to be incorporated after receipt of requisite regulatory approvals. Bharat Financial Inclusion's shareholders will receive 639 shares of IndusInd Bank for every 1,000 shares of Bharat Financial Inclusion. Bharat Financial Inclusion is among the largest microfinance companies in India with presence across 16 states covering 1 lakh villages.

IndusInd Bank Ltd Chairman Speech

Dear Shareholders,

The year 2017-18 has been a crucial year of change and challenges for the banking sector. Major reforms initiated by the Government have encouraged a digital environment which, in turn, has given the much-needed thrust to the vision of a cashless economy. Against this backdrop, your Bank has executed new propositions to enhance customer convenience basis responsive innovation. The year 2017-18 was also marked by your Bank's desire of ‘Bringing India to Bharat' by extending the bene3ts and features of digitisation (India) to Bharat (rural India) as they are an integral part of a progressive economy.

To elucidate further, the urban parts of our country are su3ciently exposed to Banking and Fintech - making many tenured customers familiar with digital banking and mobile apps. In contrast, there are many individuals in semi-urban and rural India who are yet to experience the bene3ts of a structured 3nancial system. At IndusInd Bank, we are committed to change this scenario for the better. Towards this, we have begun introducing the combination / bene3ts of Finance and Technology to the poor and hitherto the unbanked masses – leading to 3nancial inclusion and sustainable livelihood creation.

In fact, the decision to merge Bharat Financial Inclusion Ltd. (BFIL) into IndusInd Bank, announced in October 2017, was prompted by the same endeavour: Bring India to Bharat and create a stronger and more sustainable platform for Financial Inclusion. The merger is a good 3t to your Bank's rural banking and micro3nance theme, and has provided the Bank with access to best-in-class micro-lending capabilities and domain expertise in micro3nance. BFIL has 1,408 branches across 347 districts which complement IndusInd Bank's 1,400-strong branch network (including ~250 rural branches) and 999 vehicle 3nance outlets. Post the merger, the Bank will have 3,600-plus banking points (excluding ATMs) serving more than 16.8 million customers.

Another notable initiative of your Bank has been the journey towards Customer Experience (CEX) transformation, and the ‘Customer First' philosophy that has made good progress in integrating the business and behavioural mindsets of employees towards customers. We have tried to rede3ne the Customer Journeys across the Bank, and have focussed on embedding the principles of convenience - Seamless, Easy, Fast, Transparent, into the core of our organisation.

The year 2017-18 has also been a year of major partnerships and collaborations with well established brands to o3er a personalised Customer Convenience. In its endeavour to stitch up the fragmented but fast growing payment ecosystem, your Bank entered into partnerships with Fintech and Government entities, viz., MobiKwik and Delhi Metro, to o3er co-branded mobile wallets and cards in order to provide seamless payment experience between the customers' bank accounts and their wallet / transit cards.

That's not all. Your Bank collaborated with a leading app aggregator, to launch the 'All-in-One Store' that allows users to access multiple m-commerce services via native API integrations. With this, the customers are now experiencing seamless and highly personalised services of ordering food, booking movie tickets or getting a cab. And all this using the IndusMobile app.

At IndusInd Bank, we remain focused on running our business in a way which generates value for our customers, employees and other stakeholders. We realise that we need to extend our sphere of activities beyond business. One such initiative is harnessing the power of Sport for Change, through our ‘IndusInd For Sports' initiative. This year, we launched our third marquee programme under the Sports Vertical - The Girl Power Programme - an initiative in partnership with Inspire Institute of Sport, the sporting arm of JSW Steel.

Our Net Pro3t rose 26 per cent in the year to `3,606 crores. Net Interest Income was up 24 per cent at `7,497 crores. Non-Interest Income rose 14 per cent, to `4,750 crores. The Return-on-Assets stood at 1.90 per cent. Total Advances and Deposits grew by 28 per cent and 20 per cent respectively.

It is gratifying to see that our hard work throughout the year was acknowledged and rewarded by numerous accolades. We were honoured by 'The Forrester Indian Mobile Banking Benchmark Report 2017' as the 3rd Best Bank amongst the participating banks for IndusMobile App. We were mentioned amongst the winning category for the Best IT Risks and Cyber Security Initiatives, Best Payment Initiatives. We bagged the runner-up category for the Best Financial Inclusions initiatives and for the Best Technology Bank.

I would like to thank the regulatory authorities and agencies for their constant support. Finally, my sincere appreciation to my colleagues and members of the Board for guiding and supporting the management team in its endeavours.

Yours Sincerely,
Romesh Sobti
Managing Director & CEO

   

IndusInd Bank Ltd Company History

IndusInd Bank Ltd is one of the new generation private sector banks in India. The Bank's business lines include corporate banking, retail banking, treasury and foreign exchange, investment banking, capital markets, non-resident Indian/high-net-worth individual banking, and information technology. The Bank business divisions include Retail/ Consumer Banking, Consumer Finance, Global Markets Group, Corporate & Commercial Banking, Transaction Banking Group and Investment Banking. As on 31 December 2017, the bank had 1,320 branches and 2,162 automated teller machines (ATMs) spread across 702 geographical locations of the country. The bank also has representative offices in London, Dubai and Abu Dhabi. The bank provides multi-channel facilities, which includes automated teller machines (ATMs), net banking, mobile banking, phone banking, multi-city banking and international debit cards. The Bank has multi-lateral tie-ups with other banks providing access to more than 18000 ATMs for their customers. They enjoy clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. They also offer DP facilities for stock and commodity segments. IndusInd Bank Ltd was incorporated in the year 1994 and was promoted by Mr Srichand P Hinduja, a leading Non-Resident Indian businessman and head of the Hinduja Group. The Bank started their operations with a capital amount of Rs 1,000 million among which Rs 600 million was donated by the Indian Residents and Rs.400 million was raised by the Non-Resident Indians. The bank is a pioneer in launching internet banking. They are rated as one of the Top Performing Banks in various survey reports. During the year 2001-02, the Bank increased their network from 36 to 77. During the year 2002-03, the Bank entered into electronic money transfer arrangements with MoneyGram International Ltd, USA and Zoha Inc USA for attracting beneficiaries of small value remittance from overseas. Thus, they became the first to implement the RBI-Electronic Funds Transfer scheme. Also, they entered into bullion trading activities and financial services to Indian entities setting up joint ventures and wholly-owned subsidiaries abroad. IndusInd Enterprises & Finance Ltd, a Non-Banking Finance company and one of the promoters of the Bank amalgamated with the Bank with effect from July 11, 2003. As a result, IndusInd Information Technology Ltd became a subsidiary of the Bank. During the year, the bank increased their network to 127 from 77 outlets. During the year 2003-04, the Bank opened their representative office in Dubai. They launched their debit card with the name International Power Card. They opened 8 new branches and 2 new extension counters during the year. Also, a total of 31 new ATMs were installed, which includes 15 on-site ATMs and 16 off-site ATMs. Ashok Leyland Finance Ltd, a leading Non-Banking Finance company merged with the Bank with effect from June 11, 2004. During the year 2004-05, the Bank signed an agreement with NCDEX as clearing banker. They launched various innovative products and services, which includes International Mahila Card, Mobile Top-ups, Utility Bill Payment etc. They opened their second representative office in London. Also, the Bank entered bilateral tie-up with Corporation Bank and with UTI Bank, in which the Bank's customer can utilize their ATMs across the country. During the year 2006-07, the Bank added a number of new business and product lines which includes the launch of Indus Gold and Indus Gift Card and E-Remittance facility. They made a tie-up with Religare Securities for extending Portfolio Management services. They also made a tie up with Aviva Life Insurance for bancassurance. The Bank opened 33 branches and set up 41 offsite ATMs during the year. During the year 2007-08, the Bank signed an agreement with National Multi Commodity Exchange Ltd (NMCE) to become their clearing bank. They made a strategic tie-up with Religare Securities for offering a value-added 3-in-1 savings accounts-linked package to customers - comprising a savings bank account, a depository account, and an Internet trading account. Also, they made a strategic partnership with Cholamandalam MS for bancassurance. During the year 2007-08, the Bank was awarded the highest A1+ rating for their Certificates of Deposit by ICRA and the highest P1+ rating for their Fixed Deposits and Certificates of Deposit by CRISIL. They also received recognition by BSE and NASSCOM Foundation for the Best Corporate Social Responsibility Practice Category. In July 2008, the Bank was awarded The Smart Workplace Award by Economic Times in association with Acer and Intel for enhancing the productivity of the employees through optimum use of resources as well as technology. During the year 2008-09, the Bank launched various new products and services which were targeted at building wealth management capabilities as well as enhancing the existing banking channels. The Bank launched the Gold and Investment verticals, which contributed in excess of Rs 5 crore of revenue in the first year of operations. They also launched two new channels - Wealth Relationship Managers and the Central Acquisition Team (CAT). The Bank commenced the process of opening 'new look branches' to enhance the banking experience of customers and to provide personal attention to their needs. They already opened five branches with the new look at Bandra, Kolkata, Ludhiana, Vadodara and Lucknow. The Consumer Banking opened their new Administrative Office in Gurgaon. Also, the Bank's Consumer Finance Division moved into their own four-storey building at G. N. Chetty Road in Chennai. In August 2008, the Bank acquired the micro-finance portfolio from SKS Mircofinance. In October 2008, they signed a co-partner agreement with World Gold Council for joint promotion of packaged and certified gold coins and ingots in India. In November 2008, the Bank entered into an agreement with TVS Motor Company where the Bank will provide structured inventory funding to TVS Motors' dealers. In January 2009, they entered into a MoU with CRISIL to rate the Bank's clients. During the year 2009-10, the Bank opened 30 new branches and 141 ATMs as a part of the strategy of expanding banking network to different locations in the country. The Bank re-launched the Non-Resident (NR) business, which acquired 12,000 new NR clients within a short span and also mobilized significant FCNR book and savings account book. During the year, the Corporate Office in Mumbai moved into new spacious premises at One Indiabulls Centre, Elphinstone Road (W), Mumbai. The Bank continued the process of opening new-look branches/off-site ATMs at various locations, viz., branches in Chennai, Secunderabad, Phagwara, Coimbatore, Pune, Hapur and off-site ATMs in 114 locations enhancing the customer experiences at primary touchpoints. During the year 2010-11, the Bank opened 90 new branches and set up 97 ATMs. As at the year ended March 31, 2011, the Bank had a total of 300 branches spread across 212 geographical locations and 594 ATMs, inclusive of 340 off-site ATMs. In October 2011, the Bank entered into an arrangement with Moscow-based commercial bank JCB Unistream for India bound remittances. In February 2011, they signed MoU with Mahindra & Mahindra Ltd in which the Bank will be one of the preferred financiers for the entire range of vehicles sold by Mahindra & Mahindra Ltd and also extend passenger and commercial vehicle finance to their customers. In June 2011, the Bank signed an agreement with Atos Worldline India (Venture Infotek) for point of sale (POS) acquiring solutions. During the year 2011-12, the Bank opened 100 new branches and 106 ATMs. As at the end of the year, the Bank had a total of 400 branches spread across 270 geographical locations and 692 ATMs inclusive of 345 off-site ATMs. The Bank launched three new services: Cash-on-Mobile, Direct Connect and Quick Redeem during the year. These new services are aimed at making banking easy and convenient for the customers. The Bank purchased the Credit Cards business of Deutsche Bank during the year. The launch of IndusInd Bank's Credit Cards business through this acquisition has fast tracked the Cards' business growth plans. On 24 July 2012, IndusInd Bank and Suzuki Motorcycle India Pvt. Ltd. (SMIPL) signed MOU whereby IndusInd Bank will be the preferred financier to extend retail finance to SMIPL's two wheeler customers across the country. On 16 August 2012, IndusInd Bank announced the launch of its foreign currency pre-paid travel card - the Indus Forex card. On 13 December 2012, IndusInd Bank announced the successful implementation of Finacle core banking across all its branches to facilitate the delivery of state-of-the-art banking services. IndusInd Bank on 1 April 2013 was included in the NIFTY 50 benchmark index of the National Stock Exchange (NSE). On 29 May 2013, IndusInd Bank and American Express announced the formation of a strategic partnership with the launch of the new IndusInd Bank Iconia American Express credit card. On 4 August 2014, Jet Airways, India's premier international airline, and IndusInd Bank announced a strategic partnership to launch a suite of Jet Airways IndusInd Bank co-branded credit cards. On 29 September 2014, IndusInd Bank inaugurated its first digital branch at IndusInd Cybercity Rapid Metro station, Gurgaon. With this launch, IndusInd Bank became the first bank in India to have a fully digital branch at a metro station, whose branding rights are owned by the bank. On 10 April 2015, IndusInd Bank announced that it has entered into an agreement with Royal Bank of Scotland N.V. to acquire its diamond and jewellery financing business in India and related deposits portfolio. On 27 July 2015, IndusInd Bank announced that it had completed the acquisition of Royal Bank of Scotland's diamond and jewellery financing business in India. The acquired loan portfolio is approximately Rs 4100 crore. On 20 May 2015, Worldpay, the global leader in payments, announced that it has partnered with IndusInd Bank to offer domestic acquiring services in India. On 3 July 2015, IndusInd Bank completed the allotment of 5.12 crore equity shares to Qualified Institutional Buyers (QIBs) at issue price of Rs 845 per share, thereby raising Rs 4327.98 crore. On 6 August 2016, IndusInd Bank completed the allotment of 87.81 lakh equity shares to the promoters of the bank on a preferential basis at issue price of Rs 857.20 per equity share, thereby raising Rs 752.74 crore. On 12 January 2016, IndusInd Bank announced that it has partnered with online payment solution leader PayU India to redefine the digital experience for Indian consumers, by bringing the full suite of consumer banking products online and powering the same through payment innovations and online eco-systems enabled by PayU India. On 23 May 2016, IndusInd Bank announced that it had signed a Corporate Agency agreement for distributing Reliance General Insurance's insurance products to its customers. On 12 July 2016, IndusInd Bank announced the opening of an International Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) to meet the requirements of offshore banking operations from India. IndusInd Bank's International Banking Unit (IBU) will provide the bank access to international financial markets and will allow IndusInd Bank to deliver a complete range of products to its clients with foreign currency funding requirements. On 14 March 2017, IndusInd Bank announced that it has entered into an agreement with Infrastructure Leasing and Financial Services Ltd. (IL&FS), the promoter shareholders of IL&FS Securities Services Ltd., (ISSL), to acquire 100% of ISSL. ISSL is a leading capital market intermediary for professional clearing, depository and custodial services. On 29 March 2017, IndusInd Bank announced extension of its agreement with Lohia Auto Industries. IndusInd Bank would be the s preferred financier for retail vehicle finance for all Lohia 3-wheeler electric and diesel models. On 8 June 2017, Overseas Private Investment Corporation (OPIC) and IndusInd Bank executed a finance agreement for a $225 million loan supporting the expansion of the IndusInd Bank's micro, small, and medium enterprise (MSME) lending programs across India. On 15 September 2017, Asian Development Bank (ADB) signed a loan of up to $200 million with IndusInd Bank to provide finance to low income women borrowers in rural India. The 7-year senior loan will go towards IndusInd Bank's microfinance activities. On 14 October 2017, IndusInd Bank and Bharat Financial Inclusion announced a merger of the two entities to create a stronger and more sustainable platform for financial inclusion. The scheme contemplates merger of Bharat Financial with IndusInd and simultaneous transfer of Bharat Financial Inclusion's Business Correspondent operations into a Wholly Owned Subsidiary of IndusInd to be incorporated after receipt of requisite regulatory approvals. Bharat Financial Inclusion's shareholders will receive 639 shares of IndusInd Bank for every 1,000 shares of Bharat Financial Inclusion. Bharat Financial Inclusion is among the largest microfinance companies in India with presence across 16 states covering 1 lakh villages.

IndusInd Bank Ltd Directors Reports

The Board of Directors of the Bank have pleasure in presenting the Twenty-fourth Annual Report covering business and operations of the Bank, together with the Audited Financial Statements for the year ended March 31, 2018.

The 3nancial performance for the year ended March 31, 2018 is summarized as under:

(Rs in crores)

Particulars As on March 31, 2018 As on March 31, 2017
Deposits 151,639.17 126,572.22
Advances 144,953.66 113,080.51
Operating Pro3t (before Depreciation and Provisions and Contingencies) 6,867.75 5,641.71
Net Pro3t 3,605.99 2,867.89

During the year under review, despite the disruption in growth rate in the Indian economy and a persistently challenging macroeconomic environment, the Bank improved its business, with Deposits growing by 19.80% and Advances by 28.19% over the previous year.

The Bank continued to focus on increasing earnings from its core banking business, strengthening the fee income streams, and maintaining control on operating costs.

Operating Profit (before Depreciation and Provisions and Contingencies) rose by 21.73% to Rs 6,867.75 crores, as compared to Rs 5,641.71 crores in the previous year.

The Net Profit of the Bank, after considering all expenses and necessary Provisions and Contingencies, was higher by 25.74% at Rs 3,605.99 crores, as against Rs 2,867.89 crores in the previous year.

Appropriations

The Directors recommend appropriation of Profit as under:

(Rs in crores)

Operating Profit before Depreciation and Provisions and Contingencies 6,867.75
Less: Depreciation on Fixed Assets 211.64
Less: Provisions and Contingencies inclusive of Income Tax 3,050.12
Net Profit 3,605.99
Profit Brought Forward 7,118.38
Amount available for Appropriation 10,724.37
Transfer to Statutory Reserve 901.50
Transfer to Capital Reserve 7.62
Dividend (including Tax on Dividend) 432.24
(23rd Annual General Meeting of members held on July 26, 2017 approved the payment of Dividend for the year 2016-17 for the Equity Shares outstanding as on that date.)
Deduction during the year 71.52
Total Appropriations 1,412.88
Balance carried over to Balance Sheet 9,311.49

The Earning Per Share (EPS) of the Bank rose to Rs 60.19 during the year 2017-18, from Rs 48.06 in the previous year.

In view of the overall improvement in performance as well as the need to conserve Capital for continued growth, the Directors recommend Dividend of Rs 7.50 per Equity Share of Rs 10 each for the year ended March 31, 2018. (Dividend for the year 2016-17 was Rs 6.00 per Equity Share of Rs 10 each).

Considering the Equity Shares outstanding as at March 31, 2018, the total amount of dividend payable including Taxes to be borne by the Bank amounts to Rs 542.70 crores. In accordance with the revised AS 4 – ‘Contingencies and events occurring after the Balance Sheet Date', this amount is not accounted as liabilities as at March 31, 2018.

Financial Performance and State of A3airs of the Bank

The year under review was the 3rst year of the new Triennial Planning Cycle of the Bank, (Planning Cycle 4, for Financial Years 2017-20) with the theme of "Digitize to Di3erentiate, Diversify and Create Domain Leadership (4D)" with a strategy to gain ‘Market Share with Profitability'.

Backed by improved volumes, the Total Income of the Bank for the year under review grew by 18.59% to Rs 22,030.85 crores from Rs 18,577.16 crores.

The healthy rise in Profitability was the result of growth in Net Interest Income (NII) as well as Non-Interest Income. Net Interest Income improved by 23.67% to Rs 7,497.45 crores from Rs 6,062.60 crores while Non-Interest Income rose to Rs 4,750.10 crores from Rs 4,171.49 crores, registering growth of 13.87%.

Core Fee Income such as commission, exchange, loan processing and account management fees, fees on Investment Banking and distribution of third-party products, and earnings from foreign exchange business grew by 19.73% to Rs 4,176.75 crores from Rs 3,488.59 crores earned during the previous year.

Yield on Advances dropped to 11.21% during the year, as against 11.71% in the previous year, while the Cost of Deposits fell to 5.98% from 6.41% in the previous year. The Bank was able to maintain its Net Interest Margin at the same level as of previous year at 3.99%.

The Bank expanded its branch network steadily to reach 1,400 branches, as against 1,200 branches at the beginning of the year. Revenue per employee during the year improved signi3cantly to Rs 48 lakhs.

The Net Non-Performing Assets ratio of the Bank stands at 0.51% in current year. The Provisioning Coverage Ratio (PCR) stands at 56.26% as compared to 58.39% in the previous year.

The year under review witnessed a number of signi3cant events, some of which are listed below:

• On April 18, 2017, the Bank issued Basel III-compliant Additional Tier 1 Bonds (AT1/ PDI) for Rs 1,000 crores, in addition to Rs 1,000 crores mobilized during March 2017.

• On October 14, 2017, the Board of Directors of the Bank and the Board of Directors of Bharat Financial Inclusion Limited

(BFIL) (formerly known as SKS Micro3nance Limited) approved Amalgamation of BFIL with the Bank through a Composite Scheme of Arrangement. The Competition Commission of India has granted approval to the proposed Scheme, and the RBI has accorded their "No Objection" for the Amalgamation.

In this regard, as on date of this report:

• The Scheme has ‘no adverse remarks' in the Observation Letters from the Securities and Exchange Board of India (SEBI) /

National Stock Exchange of India Limited vide letter dated June 1, 2018 and BSE Limited vide letter dated June 4, 2018. O RBI vide letter dated June 8, 2018 conveyed their approval for incorporating of the Wholly-Owned-Subsidiary to act as

Business Correspondent of the Bank as part of Bank's Amalgamation with BFIL.

• The Scheme is awaiting, approval from the respective Shareholders and Creditors of the Bank and BFIL, the National Company Law Tribunal (NCLT), and is subject to compliance with the conditions speci3ed by RBI.

• _ Equity Shares of the Bank have been included in the bellwether 30 Member BSE Sensex Index. They have been part of Nifty 50, the bellwether index of NSE since April 2013.

• _ RBI have granted approval on April 3, 2018 for the proposed acquisition of IL&FS Securities Services Limited, the securities services arm of IL&FS, as a Wholly-Owned Subsidiary of the Bank. This transaction is conditional on de3nitive agreements and other regulatory approvals.

Performance of Subsidiary and Associate Company

The Bank does not have a subsidiary.

IndusInd Marketing and Financial Services Private Limited (IMFS) is an Associate Company of the Bank and is engaged in the business of providing manpower services. Pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 8 of Companies (Accounts) Rules, 2014, the Bank has drawn up a Consolidated Financial Statement including the Financial Statement of its Associate Company, which also forms a part of this Annual Report.

During FY 2017-18, IMFS earned Revenue of Rs 243.09 crores as against Revenue of Rs 217.21 crores in the previous year. IMFS earned Profit of Rs 0.44 crores in FY 2017-18.

Statement containing the salient features of the 3nancial position of the Associate Company in Form AOC-1 is enclosed as ‘Annexure' to the Financial Statements.

Share Capital

The Paid-Up Equity Capital of the Bank as at March 31, 2018 consisted of 60, 02,23,187 Equity Shares of Rs 10/- each.

During the year under review, the Bank allotted 20,74,482 Equity Shares of Rs 10/- each pursuant to Exercise of Options under its Employees Stock Option Scheme, 2007.

The Bank has not issued any Equity Shares with Di3erential Voting Rights.

Debentures

On April 18, 2017, the Bank allotted, on Private Placement basis, 10,000 Rated, Listed, Non-Convertible, Perpetual, Subordinated & Unsecured Basel III-compliant Additional Tier I Bonds ("AT1") in the nature of Debentures of Face Value of Rs 10,00,000 (Rupees Ten lakhs each) for cash at par amounting to Rs 1,000 crores.

In compliance with Regulation 53 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the names of the Debenture Trustees with their contact details are given below:

Trustee I:

Name of Debenture Trustees : Catalyst Trusteeship Limited (formerly GDA Trusteeship Ltd.)
Address : GDA House, Plot No. 85, Bhusari Colony
(Right), Kothrud, Pune – 411 038, Maharashtra, India.
Website : www.catalysttrustee.com
E-mail : dt@ctltrustee.com
Trustee II:
Name of Debenture Trustees : Beacon Trusteeship Limited
Address : Prabhat Kunj, Prabhat Colony 3, Santracruz (East), Mumbai – 400 055
Website : www.beacontrustee.co.in
E-mail : info@beacontrustee.co.in

Tier II Capital

The Bank did not issue any Tier II Capital instruments during the year. As on March 31, 2018, the value of outstanding Tier II Capital instruments is Nil.

Deposits

The Bank is a banking company governed by the Banking Regulation Act, 1949, and as such, the provisions in the Companies Act relating to acceptance of Public Deposits are not applicable.

Capital Adequacy

The Bank continues to be adequately capitalized. The Capital Adequacy Ratio of the Bank, calculated under the Basel III Capital Regulations mandated by RBI, is set out below:

Particulars March 31, 2018 March 31, 2017
i) Capital Adequacy Ratio (CRAR) 15.03% 15.31%
ii) CRAR- Common Equity Tier 1 Capital 13.42% 14.02%
iii) CRAR- Tier 1 Capital 14.58% 14.72%
iv) CRAR- Tier 2 Capital 0.45% 0.59%

Credit Ratings

Instruments Rating Rating Agency
Infra Bond program AA+ CRISIL
Additional Tier I Bond program AA CRISIL
Certi3cates of Deposit A1+ CRISIL
Senior Bonds program AA+ India Ratings and Research
Additional Tier I Bond program AA India Ratings and Research
Short Term Debt instruments A1+ India Ratings and Research

Directors

The Bank's Board comprised eight Directors as on March 31, 2018, viz., Mr. R. Seshasayee, Non-Executive Part-time Chairman, 3ve Independent Directors, Mr. Yashodhan M. Kale, Non-Executive Non-Independent Director, and Mr. Romesh Sobti, Managing Director & CEO.

(a) Non-Executive Independent Directors

All Independent Directors have given Declarations that they meet the criteria of independence as laid down under subsection (6) of Section 149 of the Companies Act, 2013. In compliance with Regulation 16 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Declarations were placed before the Board of Directors in their meeting held on April 19, 2018, and based on the Declarations, the following Non-Executive Directors continue to be identi3ed as Independent Directors as on March 31, 2018: (i) Mrs. Kanchan Chitale (ii) Mr. T. Anantha Narayanan (iii) Mr. Ranbir Singh Butola (iv) Mr. Shanker Annaswamy (v) Dr. T. T. Ram Mohan

(b) Woman Director

In terms of the provisions of Section 149 of the Companies Act, 2013, read with Rule 3 of the Companies (Appointment and Quali3cation of Directors) Rules, 2014, and Regulation 17 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, speci3ed companies are required to have at least one Woman Director in their Board.

Mrs. Kanchan Chitale (DIN: 00007267), who joined the Board on October 18, 2011, is an Independent Woman Director in the Board, and Chairs some important Committees.

(c) Chairman of the Board

Mr. R. Seshasayee, (DIN: 00047985) has been Non-Executive Part-time Chairman of the Bank since July 24, 2007. Shareholders of the Bank had, in the 23rd AGM held on July 26, 2017, approved the re-appointment of Mr. R. Seshasayee as Non-Executive Part-time Chairman for a period of 2 years.

RBI have conveyed approval for the re-appointment of Mr. R. Seshasayee as a Non-Executive Part-time Chairman for a period of 2 years, i.e., up to July 24, 2019.

(d) Managing Director & CEO

Mr. Romesh Sobti, (DIN: 00031034) has been Managing Director & CEO of the Bank since February 1, 2008.

Shareholders of the Bank had, in the 21st AGM held on August 17, 2015, approved the re-appointment of Mr. Romesh Sobti as the Managing Director & CEO for a period of three years with e3ect from February 1, 2015.

Reserve Bank of India have conveyed their approval for re-appointment of Mr. Romesh Sobti up to March 23, 2020.

(e) Details of Directors seeking Appointment / Re-appointment / Directors retiring by rotation at the forthcoming AGM

Appointment

Mr. Yashodhan M. Kale (DIN: 00013782), completed his tenure in the Board on November 3, 2017. Reserve Bank of India have, vide their letter dated December 20, 2017, conveyed approval for continuance of Mr. Yashodhan M. Kale in the Board upto April 15, 2019.

The Board of Directors had, in their meeting held on January 11, 2018, accordingly approved the appointment of Mr. Yashodhan M. Kale as ‘Additional Director' in the category of ‘Non-Executive Non-Independent Director' in the Board. Approval of the shareholders is being requested for the appointment of Mr. Yashodhan M. Kale as Director in the Board of the Bank.

Re-appointment

Mr. Romesh Sobti (DIN: 00031034) has been the Managing Director & CEO of the Bank since February 1, 2008. Shareholders of the Bank had, in the 21st AGM held on August 17, 2015, approved the re-appointment of Mr. Romesh Sobti as the Managing Director & CEO for a period of three years with e3ect from February 1, 2015.

The Nomination & Remuneration Committee of the Board had recommended to the Board of Directors the reappointment of Mr. Romesh Sobti as Managing Director & CEO with e3ect from February 1, 2018.

Reserve Bank of India have, vide their letter dated January 16, 2018, conveyed their approval for the re-appointment of Mr. Romesh Sobti as ‘Managing Director & CEO' from February 1, 2018 until March 23, 2020.

Approval of the shareholders is being requested for re-appointment of Mr. Romesh Sobti as Managing Director & CEO of the Bank upto March 23, 2020.

Retirement by Rotation

Section 152 (6) of the Companies Act, 2013 provides that not less than two-thirds of the total number of directors of a public company shall be liable to retire by rotation, and that one-third of such directors as are liable to retire by rotation shall retire from o3ce at every Annual General Meeting (AGM) of the company.

In accordance with the provisions of the Companies Act, 2013, out of the Non-Independent Directors, Mr. R. Seshasayee (DIN: 00047985), Non-Executive Part-time Chairman of the Bank, being longest in O3ce, retires by rotation, and being eligible, o3ers himself for re-appointment at the AGM.

Approval of the shareholders is being requested for re-appointment of Mr. R. Seshasayee as Non-Executive Part-time Chairman of the Bank.

As required under Regulation 36(3) of the Listing Regulations, particulars of the Directors seeking appointment, reappointment, and retirement by rotation are given in the Explanatory Statement and attached to the Notice of the forthcoming AGM.

None of the Directors have been disquali3ed from being appointed as ‘Director', pursuant to Section 164 of the Companies Act, 2013.

(f) Cessation of Director

Mr. Vijay Vaid, (DIN: 00219709), who had been a member of the Board as ‘Non-Executive Independent Director' since October 18, 2011, ceased to hold o3ce with e3ect from February 3, 2018.

The Directors wish to place on record their appreciation for the valuable contributions made by Mr. Vijay Vaid towards the deliberations in the Board Meetings during his tenure as Director of the Bank.

Board and Committee Meetings

During the year, ten meetings of the Board and ten meetings of the Audit Committee were held, the details of which are given in the Corporate Governance Report, which forms an integral part of this Report.

The Board has constituted the Audit Committee with Mr. T. Anantha Narayanan as Chairman and Mrs. Kanchan Chitale, Mr. Ranbir Singh Butola, Mr. Shanker Annaswamy and Mr. Yashodhan M. Kale as Members. There have not been any instances during the year when recommendations of the Audit Committee were not accepted by the Board.

Details of the composition of the Board and all its Committees and of the Meetings held and attendance of the Directors at such Meetings are provided in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and the Listing Regulations.

Performance Evaluation of the Board

Pursuant to the provisions of the Companies Act, 2013 and Listing Regulations, the Nomination & Remuneration Committee of the Board had laid down the criteria for Performance Evaluation of the Board as a whole, Committees of the Board, Directors individually, and of the Chairman, as well as the process of evaluation.

The Bank has aligned its Board Evaluation Framework in line with the Guidance Note on Board Evaluation issued by SEBI, under their Circular dated January 5, 2017.

The Board of Directors have carried out the annual evaluation of the performance of the Board as a whole, Individual Directors including Independent Directors, Non-Independent Directors, the Managing Director & CEO and the Chairman and the Committees of the Board.

The performance of the Board as a whole, Committees of the Board, Directors individually, and of the Chairman has been evaluated / reviewed by the Nomination & Remuneration Committee, Committee of Independent Directors and by the Board of Directors in their meetings held on May 8, 2018.

The Statement indicating the manner in which the evaluation exercise was conducted is included in the Report on Corporate Governance, which forms an integral part of this Annual Report.

System for Internal Financial Controls and its Adequacy

The Bank operates in a fully computerised environment, with a Core Banking Solution, supported by diverse application platforms for handling special businesses, such as, Treasury, Trade Finance, Credit Cards, Retail Loans, etc. The process of recording of transactions in each of the application platforms is subject to various forms of controls such as in-built system checks, Maker – Checker authorisations, independent post-transaction reviews, etc. The Financial Statements are prepared based on computer system outputs. The responsibility of preparation of Financial Statements is entrusted to a dedicated unit which is completely independent of business, risk, audit or other functions. This unit does not originate accounting entries except for limited matters such as Share Capital, Taxes and Transfers to Reserves. The Bank has implemented adequate procedures and internal controls which provide reasonable assurance regarding reliability of 3nancial reporting and preparation of Financial Statements, and that such internal 3nancial controls were adequate and were operating e3ectively during the year.

Conservation of energy and technology absorption and foreign exchange earnings and outgo

Conservation of Energy:

Considering the nature of its activities as an entity in the Financial Services sector, the Bank has voluntarily taken steps towards conservation of energy and details of which are furnished in Principle 6 of Section E of the Business Responsibility Report.

Technology Absorption:

The Bank has made optimum use of Information Technology in its operations. Details pertaining to Technology Absorption have been explained in the Management and Discussion Analysis Report, which forms an integral part of the Annual Report.

Foreign Exchange Earnings and Outgo:

The provisions relating to 134(3)(m) of the Companies Act, 2013, on particulars relating to Foreign Exchange Earnings and Outgo are not applicable to a Banking company, and as such no Disclosure is being made in this regard.

Risk Management

The Bank has an Enterprise-wide Risk Management (ERM) framework in place. The Risk Management Department covers Credit Risk, Market Risk, Assets-Liabilities Management (ALM), Operational Risk and Information Security Risk across all verticals, independent of business functions.

Risk Management functions in the Bank have been aligned with best industry practices, supported by advanced risk measurement and analytical systems which enable proactive risk management and monitoring. Risk Management is continually enhanced in line with changes in operating environment and regulations.

The Bank has a comprehensive framework of Risk Management Policies which specify the risk appetite, risk measurement methodologies, and monitoring and control measures for the respective business segments. The policies have been designed keeping risk appetite as the central objective, and business strategies have been aligned to risk policies.

The Bank has set up a Board-level Committee, viz., ‘Risk Management Committee' to examine risk policies and procedures developed by the Bank and monitor adherence to risk parameters and prudential limits set for di3erent portfolios / products / segments.

Details of Risk Management Models and Frameworks implemented by the Bank are mentioned under ‘Management Discussion and Analysis'.

Vigil Mechanism / Whistle Blower Policy

The Bank has in place the "Whistle Blower Policy" since 2009.

The said Policy is in compliance with RBI Guidelines, provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Vigil Mechanism at the Bank requires submission of Quarterly Reviews before the Audit Committee of the Board, and placing of Annual Reviews before the Audit Committee and the Board of Directors.

The Policy also incorporates suggestions of the Protected Disclosure Scheme for Private Sector and Foreign Banks, instituted by Reserve Bank of India.

The Board of Directors of the Bank have constituted a Board-level Committee, viz., the Vigilance Committee, which conducts overview of cases of vigilance nature arising out of actions of the employees of the Bank. The Committee meets at least twice a year.

The Bank has been awarded the ‘Certi3cate of Commitment' by Central Vigilance Commission.

The Bank's Whistle Blower Policy is in synchrony with all statutory and regulatory guidelines on Vigil Mechanism.

Further details about the Vigil Mechanism are furnished in the Report on Corporate Governance, and the current Whistle Blower Policy of the Bank is available on the Bank's website at the under-mentioned link: http://www.indusind.com/important-links/other-useful-information.html

Statutory Auditors

M/s Price Waterhouse Chartered Accountants LLP, (PW), Mumbai (Firm Registration No. 012754N / N500016), Statutory Auditors of the Bank have Audited the accounts of the Bank for the Financial Year 2017-18 and will retire at the conclusion of this Annual General Meeting.

M/s Price Waterhouse Chartered Accountants LLP have been associated with the Bank as Statutory Auditors for the past three years.

Independent Auditors' Report

M/s Price Waterhouse Chartered Accountants LLP, Statutory Auditors of the Bank, have audited the accounts of the Bank for the year 2017-18 and their Report is annexed. Pursuant to Section 143(3)(i) of the Companies Act, 2013, the Statutory Auditors have also reported on the adequacy and operating e3ectiveness of internal 3nancial controls system over 3nancial reporting, which has been enclosed as ‘Annexure A' to the Independent Auditors' Report.

Significant Audit observations, if any, and corrective actions taken by the Management are presented to the Audit Committee of the Board from time to time.

There are no quali3cations, reservations or adverse remarks or disclaimers made in the Auditors' Report.

Secretarial Audit

In terms of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Bank has appointed M/s Bhandari & Associates, Company Secretaries in Practice, to undertake Secretarial Audit of the Bank for the FY 2017-18. The Secretarial Audit Report submitted by M/s Bhandari & Associates is furnished at Annexure I, and forms an integral part of this Report.

The Secretarial Audit Report submitted by Bhandari & Associates for FY 2017-18 does not contain any qualification, reservation or adverse remark.

Statutory Disclosures

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo pursuant to Section 134(3)(m) of the Companies Act, 2013 read with the Rule 8(3) of the Companies (Accounts) Rules, 2014, is given in the Management Discussion and Analysis Report. Also, the other Statutory Information / Disclosures required to be given under the Banking Regulation Act, 1949 and the Companies Act, 2013, as applicable to the Bank, have been laid out in the Schedules / Notes attached and form part of the Balance Sheet and the Profit and Loss Account.

Details pursuant to remuneration of Directors and Employees in terms of Section 197 (12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 including the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016, are given at Annexure II and form an integral part of this Report.

The information relating to employees required to be furnished under the Companies Act, 2013 and the Rules made thereunder is given under the head ‘Particulars of Employees' later in this Report.

Employees Stock Option Scheme

The Bank had instituted the Employee Stock Option Scheme (ESOS-2007) to enable its employees, including Whole-time Directors, to participate in the future growth of the Bank. Under the Scheme, Options can be granted, which upon exercise from time to time could give rise to the issuance of a number of shares up to 7% of the issued Equity Capital of the Bank. The eligibility and number of Options to be granted to an employee is determined on the basis of criteria laid down in the Scheme and is approved by the Compensation Committee of the Board of Directors.

An aggregate of 4,16,33,300 Options, comprising 6.94% of the Bank's Equity Capital, have been granted under the Scheme. Statutory disclosures as required by SEBI (Share Based Employee Bene3ts) Regulations, 2014 are given at Annexure III, and form an integral part of this Report.

The Annual Certi3cate on compliance with SEBI (Share Based Employee Bene3ts) Regulations, 2014, issued by Statutory Auditors of the Bank is being placed before Members in the ensuing AGM.

The Employees Stock Option Plan is administered by the Compensation Committee of the Board.

Disclosure on compliance with Secretarial Standards

The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating e3ectively.

Directors' Responsibility Statement

To the best of their knowledge and belief and according to the information and explanations obtained by them, the Directors make the following statement in terms of Section 134(3)(c) and 134(5) of the Companies Act, 2013:

(a) that in the preparation of the Annual Accounts for the Financial Year ended March 31, 2018, the applicable Accounting Standards have been followed along with proper explanation relating to material departures, if any;

(b) that such accounting policies as mentioned in the Notes to the Financial Statements have been selected and applied consistently and that judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of a3airs of the Bank as at March 31, 2018 and of the Profit of the Bank for the year ended on that date;

(c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Bank and for preventing and detecting frauds and other irregularities;

(d) that the Annual Financial Statements have been prepared on a ‘going concern' basis;

(e) that proper internal 3nancial controls were in place and that the 3nancial controls were adequate and operating e3ectively; and

(f) that systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating e3ectively.

Extract of Annual Return

The details forming part of the extract of the Annual Return in Form MGT-9, as required under Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014, are included in this Report as Annexure IV and form an integral part of the Annual Report.

Particulars of Employees

The Bank had 25,284 employees on its rolls as on March 31, 2018.

59 employees who had been employed throughout the year were in receipt of remuneration of Rs 1.02 crores per annum or more, and only 1 employee employed for part of the year was in receipt of remuneration of Rs 8.50 lakhs per month or more. The information containing particulars of employees pursuant to Section 197 of the Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of this Report. However, the above Annexure is not being sent along with this Annual Report to the Members of the Bank in line with the provision of Section 136 of the Companies Act, 2013. Members who are interested in obtaining the particulars may please write to the Company Secretary at the Secretarial and Investor Services O3ce of the Bank. The aforesaid Annexure is also available for inspection by Members at the Registered O3ce of the Bank up to the date of this Annual General Meeting during business hours on working days.

None of the employees hold (by himself or along with his spouse and dependent children) more than two percent of the Equity Shares of the Bank.

Policy on Remuneration to Non-Executive Directors

Until the Financial Year 2015-16, all Non-Executive Directors, including the Non-Executive Part-time Chairman, received remuneration only by way of Sitting Fees for attending the meetings of the Board and of various Board Committees.

In line with the guidelines contained in RBI Circular dated June 1, 2015 on compensation of Non-Executive Directors of Private Sector Banks, the Board of Directors, on the basis of the recommendations of the Human Resource & Remuneration Committee (since re-named as ‘Nomination & Remuneration Committee'), in their meeting held on May 12, 2016, approved the payment of remuneration of Rs 25 lakhs per annum with e3ect from April 1, 2016 to Mr. R. Seshasayee, Non-Executive Part-time Chairman (subject to approval of Reserve Bank of India, which has since been received) and to the Non-Executive Directors (other than the Non-Executive Part-time Chairman) in the form of Profit-related Commission of Rs 10 lakhs per annum for each Director, in such manner as may be decided by the Board of Directors.

Shareholders had, in the 22nd Annual General Meeting of the Bank held on July 1, 2016, accorded their approval for payment of the above-mentioned remuneration in the form of Profit-related Commission to the Non-Executive Directors, including to the Non-Executive Part-time Chairman, for FY 2016-17. The Non-Executive Directors, including the Non-Executive Part-time Chairman, accordingly received remuneration in the form of Profit-related Commission, in addition to Sitting Fees for attending meetings of the Board and of various Board Committees.

No Stock Options were granted to the Non-Executive Directors.

During FY 2016-17, the Board of Directors have, on the recommendations of the HR & Remuneration Committee (since re-named as ‘Nomination and Remuneration Committee') formulated the ‘Policy on Remuneration to Non-Executive Directors', including the Non-Executive Part-time Chairman.

During the Financial Year 2017-18, the Board reviewed the ‘Policy on Remuneration to Non-Executive Directors'. The Policy is hosted on the Bank's website at the link given below: http://www.indusind.com/important-links/other-useful-information.html The Board of Directors have also formulated a Policy in relation to Key Management Personnel and Senior Management personnel of the Bank. The said Policy is given under ‘Disclosure on Remuneration' at Note No. 12.6 of the Notes in Schedule 18 to the Financial Statements, which forms an integral part of this Annual Report.

Details on compensation to Whole-time Directors are given under the Report on Corporate Governance, that forms an integral part of this Report.

Particulars of Loans, Guarantees or Investments outstanding

Section 186(11) of the Companies Act, 2013 mandates that the provisions of Section 186 of the Companies Act, 2013, except sub-section (1), do not apply to a loan made, guarantee given or security provided by a banking company in the ordinary course of business. The particulars of loans made, guarantees given and investments made by the Bank are disclosed in the Financial Statements as per the applicable provisions of the Banking Regulation Act, 1949.

Particulars of Contracts or Arrangements with Related Parties

All transactions entered with ‘Related Parties' during the year under review were on ‘arm's length basis' and in the ‘ordinary course of business' and therefore do not attract the provisions of Section 188 of the Companies Act, 2013.

Further, there are no materially Significant Related Party Transactions during the year with any of the Related Parties, viz., Promoters, Directors and Key Management Personnel and other related entities including IMFS, an Associate Company, which may have potential con3ict with the interest of the Bank at large.

In view of the above, the disclosure under Form AOC-2 is not applicable to the Bank.

The Policy on Related Party Transactions as approved by the Board of Directors is hosted on the Bank's website at the below given link: http://www.indusind.com/content/home/important-links/other-useful-information.html

Consolidated Financial Statements

In accordance with Section 129(3) of the Act, Consolidated Financial Statement of IndusInd Bank Limited (‘the Bank') and IndusInd Marketing and Financial Services Private Limited ("the Associate") has been prepared and is included in the Annual Report.

In terms of AS 23, the Bank has prepared the Consolidated Financial Statements for the year ended March 31, 2018, wherein the Standalone Financial Statements of the Bank as of that date are consolidated with that of IMFS, an associate in which the Bank has a 30% stake, by adopting ‘Equity Method'.

Indian Accounting Standards (Ind AS)

The Reserve Bank of India (RBI) issued Circular No. DBR.BP.BC.No.76/21.07.001/2015-16 on February 11, 2016, requiring scheduled commercial banks to comply with the Indian Accounting Standards (Ind AS) for accounting periods beginning from April 1, 2018 onwards, with comparatives for periods ending on or after March 31, 2018.

RBI, on April 5, 2018, through announcement in its 3rst Monetary Policy Statement for FY 2018-19, deferred Ind AS implementation for the scheduled commercial banks (excluding RRBs) by one year such that the implementation of Ind AS would begin from April 1, 2019 onwards, with comparatives for the year beginning April 1, 2018.

Pursuant to the RBI Circular dated February 11, 2016, the Bank formed a Steering Committee, comprising members from cross-functional areas, for the purpose of reviewing and monitoring the progress of implementation. The Bank set up a Working Group under the guidance of the Steering Committee to conduct Gap Assessment to identify the di3erences between the current accounting framework and Ind AS, including the identi3cation of the accounting policy options provided under Ind AS 101, First Time Adoption. Besides augmenting skilled resources within the Financial Reporting team, the Bank also engaged the services of leading professionals with international experience to assist in the project. Training programs were organized for the team members in the Business, Credit and Finance Teams. The Bank is in the process of identifying the changes required to be made to its systems and processes and is evaluating technology solutions.

The Audit Committee of the Bank's Board of Directors oversees the progress of the Ind AS implementation process. Some of the areas of Significant accounting impact pursuant to the application of Ind AS are summarized below:

(a) Accounting impact on account of application of Ind AS at the date of transition, i.e. April 1, 2018 will be recognized in equity or other components of equity. (b) The classi3cation and measurement of 3nancial assets will be driven by the Bank's business model for managing those assets and the characteristics of the contractual cash 3ows of the assets. All 3nancial assets will be classi3ed as subsequently measured at amortised cost, Fair Value through Other Comprehensive Income (FVOCI) or Fair Value through Profit or Loss (FVTPL). (c) Financial Instruments would be derecognised on transfer of Significant risks and rewards, and not based on the legal form of the arrangement.

(d) Interest will be recognised in the Income Statement using the e3ective interest method and any directly attributable fees and costs would be considered to be an adjustment to the e3ective interest rate. (e) All Derivatives would be required to be fair-valued and recognised on the Bank's Balance Sheet. (f) Expense for Stock Options will be recognised in the Statement of Profit and Loss based on the Fair Value of the Options. (g) Impairment requirements for 3nancial assets carried at amortised cost or at fair value through other comprehensive income, including certain o3 Balance Sheet items are based on an Expected Credit Loss (ECL) model. The Bank will be required to recognise either a 12-months' or lifetime ECL, depending on whether there has been a Significant increase in Credit Risk since initial recognition. This will be Significantly different from the current methodology for calculating the provision for Standard Assets and Non-Performing Assets (NPAs). The Bank has developed models for computation of ECL and is testing the same.

In addition to the above, as per Reserve Bank of India directions, the Bank submitted Standalone proforma Ind AS 3nancial statements along with other computations to the RBI for the half-year ended September 30, 2016 in FY 2016-17 and for the quarter ended June 30, 2017 in FY 2017-18, as required.

Corporate Social Responsibility

In line with its CSR focus areas, the Bank has committed to various long term community development projects that have a large positive impact. Consistent with the requirements of Section 135 of the Companies Act, 2013 and CSR Rules 2014, the Bank has set up a Board-level CSR Committee to review the CSR initiatives. The Committee is headed by Mrs. Kanchan Chitale as the Chairperson, Mr. Yashodhan M. Kale (inducted in the Committee on March 26, 2018) and Mr. Romesh Sobti as Members. Mr. Vijay Vaid ceased to be a Member, on his retirement from the Board on February 3, 2018.

The composition of the CSR Committee is in accordance with Section 135 of the Companies Act, 2013.

The Bank's CSR Policy and strategy direct and govern the Bank's activities in focus areas, namely, Environmental Sustainability, Rural Development and Inclusiveness, Preventive Healthcare and other areas of special interest that include Education, Sports and Heritage.

In FY 2017-18, in line with the agenda on digitization, the Bank pledged support to the PM's initiative of digitizing Rural India by reaching out to 2 lakh candidates across 275 districts in 11 Indian states of Haryana, Punjab, Rajasthan, Madhya Pradesh, Maharashtra, Gujarat, Jharkhand, Chhattisgarh, West Bengal, Odisha and Uttar Pradesh. The Bank has also initiated a 3agship solid waste segregation and management programme in partnership with the Government of Uttarakhand. Adding on to the two on-going 3agship sports projects namely the Para-Champions and the Blind Cricket Programme, the Bank introduced the IndusInd Girl Power Programme in FY 2017-18 that supports woman athletes across Judo, Boxing and Wrestling to represent India in reputed sports tournaments.

During the year under review, the Bank has also introduced a unique project involving the rehabilitation and skill development of women rescued from tra3cking in Bihar.

The CSR Initiatives / Projects undertaken by the Bank are in accordance with Schedule VII of the Companies Act, 2013.

Companies, on the basis of criteria prescribed under Section 135 of the Act, are required to spend at least Two per cent of their Average Net Profits made during the three immediately preceding 3nancial years, in pursuance of their Corporate Social Responsibility Policy. Accordingly, the Bank spent Rs 20.47 crores towards various CSR activities speci3ed in Schedule VII of the Companies Act, 2013. The programmes are of large scale and hence the absorption of funds is milestone-linked for larger impact.

The Bank also recognises and addresses environmental issues like climate change and global warming and measures its carbon footprint. The Bank currently features in the ‘A' list of the CDP, a platform that is widely referred by global Investors. The Bank is also a front-runner, investing in on-site solar energy solutions and LEED-Certi3ed green buildings. While these investments have not been considered as part of our reported spend this year, it has had substantial impact on the environment, in line with global targets of the UN Sustainable Development Goals.

The Report on CSR activities undertaken by the Bank is set out at Annexure V and forms an integral part of this Report. Details of the CSR Policy and initiatives adopted by the Bank on CSR are available on Bank's website at the link given below: http://www.indusind.com/content/csr-home/our-approach/csr-policy.html

Business Responsibility Report (BRR)

The Securities & Exchange Board of India have, vide their Circular dated December 22, 2015, mandated Top 500 Listed entities to include the ‘Business Responsibility Report' (BRR) as part of the Annual Report, describing the initiatives taken by the listed entity from an environmental, social and governance perspective, in the format as speci3ed by SEBI.

In view of the above and in compliance with Regulation 34(2) of the Listing Regulations, BRR of the Bank has been furnished at Annexure VI and forms an integral part of this Report.

Corporate Governance

Corporate Governance is essentially a set of standards, systems, and procedures aimed at e3ective, honest, transparent, and responsible management of a company within the applicable statutory and regulatory structures.

The Bank has adopted the industry best practices of Corporate Governance and aims to continue banking on the highest principles of governance and ethics. At IndusInd, Corporate Governance is more than just adherence to the statutory and regulatory requirements. It is equally about focusing on voluntary practices that underlie the highest levels of transparency. The Governance framework is driven by the objective of enhancing long-term stakeholder value, without compromising on Ethical Standards and Corporate Social Responsibilities.

The Bank's guiding principles are also articulated through its Code of Business Conduct and various initiatives taken to maintain transparency by communicating with the Shareholders on developments in the Bank. The Bank has also set up various subCommittees of the Board to bring in more e3cacy and transparency in its working.

The Bank continues to focus on better, complete and timely disclosures to the Stock Exchanges for dissemination to the Stakeholders.

Further complete disclosures regarding Corporate Governance are provided in the Corporate Governance Report, which forms an integral part of this Annual Report.

Certificate from M/s Bhandari & Associates, Practising Company Secretaries con3rming compliance with the conditions of Corporate Governance stipulated under Schedule V of the Listing Regulations is attached as Annexure VII and forms part of this Annual Report.

Management Discussion and Analysis Report

The Management Discussion and Analysis Report, as prescribed under Regulation 34(2) of the Listing Regulations, forms part of the Annual Report.

Significant and Material Orders passed by the Regulators or Courts

There are no Significant and material Orders passed by the Regulators / Courts that would impact the ‘going concern' status of the Bank and its futures operations.

Awards and Accolades

During the year under review, the Bank has received many awards and accolades for excellence in managing IT Risk, Marketing and Communications, CSR Initiatives, Safety and Security, Best Data Quality and Information Technology and for Innovations, etc.

Mr. Romesh Sobti, Managing Director & CEO, was awarded as the ‘Best Banker' at the BW Businessworld Magna Awards 2017. He was3also bestowed with3the prestigious Business Today's ‘Best CEO Award'.

Brief details of various awards are covered in the initial pages and in the Management Discussion and Analysis Report which forms an integral part of this Annual Report.

Cautionary Statement

Certain statements in the ‘Directors' Report' and in the ‘Management Discussion and Analysis' describing the Bank's objectives, estimates and expectations may be ‘forward-looking statements' within the meaning of applicable Securities Laws and Regulations. Actual results could di3er substantially from those expressed or implied. Important factors that could make a di3erence include economic conditions in the domestic and overseas markets, changes in Laws / Regulations, and other incidental factors.

Material events that have happened after the Balance Sheet date

No material changes and commitments a3ecting the 3nancial position of the Bank have occurred between the end of the 3nancial year of the company to which the Financial Statements relate and the date of this Report.

Policy on Prevention, Prohibition and Redressal of Sexual Harassment at Workplace

The Bank has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment of Women at the Workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder.

The Policy aims to provide protection to women employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment. The Bank has also constituted Internal Complaints Committees, to enquire into the complaints of sexual harassment and recommend appropriate action.

The Bank has received 7 complaints alleging sexual harassment at workplace during the 3nancial year 2017-18. The status of the same is as under.

No. of cases received during the year No. of cases closed during the year No. of cases pending for investigation at the end of the year
7 7 NIL

Acknowledgements

The Directors are grateful to the shareholders for the trust and con3dence reposed by them in the Bank.

The Directors are also grateful to the Reserve Bank of India, the Ministry of Corporate A3airs, Securities and Exchange Board of India, Insurance Regulatory and Development Authority, and the Stock Exchanges for the guidance and support extended by them to the Bank.

The Board expresses its deep sense of appreciation to all employees for their excellent performance, strong work ethic, and untiring commitment, which qualities have contributed to the Bank's continued progress in a challenging environment. The Board thanks its valued customers for their patronage, and looks forward to the growing of this mutually supportive relationship in future.

For and on behalf of the Board of Directors
Place: Mumbai R. Seshasayee
Date : June 22, 2018 Chairman
(DIN: 00047985)

   

IndusInd Bank Ltd Company Background

ARUN TIWARISumant Kathpalia
Incorporation Year1994
Registered Office2401 General Thimmayya Road,Cantonment
Pune,Maharashtra-411001
Telephone91-20-2623 4000/10,Managing Director
Fax91-20-2634 3241
Company SecretaryHaresh K Gajwani
AuditorS R Batliboi & Co LLP/Haribhakti & Co LLP
Face Value10
Market Lot1
ListingBSE,Luxembourg,MSEI ,NSE,
RegistrarLink Intime India Pvt Ltd
C-101 247 Park ,L B S Marg ,Vikhroli West ,Mumbai-400083

IndusInd Bank Ltd Company Management

Director NameDirector DesignationYear
Haresh K Gajwani Company Secretary 2019
Shanker Annaswamy Independent Director 2019
TT Ram Mohan Independent Director 2019
Akila Krishnakumar Independent Director 2019
ARUN TIWARI Part Time Chairman 2019
Rajiv Agarwal Independent Director 2019
Sanjay Asher Addtnl Independent Director 2019
Sanjeev Asthana Addtnl Independent Director 2019
Bhavna Doshi Addtnl Independent Director 2019
Sumant Kathpalia Managing Director & CEO 2019

IndusInd Bank Ltd Listing Information

Listing Information
BSE_SENSEX
NIFTY
BSE_500
BSE_100
BSE_200
BSEDOLLEX
CNX500
BSEBANKEX
BANKNIFTY
CNX100
CNXSERVICE
CNX200
BSECARBONE
NFT100LQ15
NFT100EQWT
BSEALLCAP
BSELARGECA
BSEFINANCE
NFTQULTY30
NFTPVTBANK
SENSEX50
ESG100
LMI250
NFT50EQWT

IndusInd Bank Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Interest/disc on advance/billsRs.00024008.2457
Income on investments Rs.0004282.1928
Others Rs.000300.3665
Interest on balance with RBI Rs.000192.0249

Contact us Contact us