# IndusInd Bank / INDIE

> Source: https://docs.barcoder.ai/docs/wallets/indusind-bank
> research date 2026-05-30 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [IndusInd Bank — official](https://www.indusind.com/)

## Overview

**IndusInd Bank** is **one of India's leading private sector banks** + **41M Indian customers Mar 31 2025** <sup>[1][1], [2][2], [India report](https://docs.barcoder.ai/docs/payments/IN)</sup>. **Mar 31 2025 baseline**: 41M Indian customers + 3,081 Indian branches/banking outlets + 3,027 ATMs; **distinctive INDIE Bank digital transformation**: INDIE app launched as IndusInd Bank's premium mobile banking app + **IndusMobile officially discontinued by March 31, 2025** (IndusInd Bank customers switched from IndusMobile to INDIE); **2025 INDIE for Business launch** as comprehensive digital banking platform for India's 60M+ MSMEs (micro, small, and medium enterprises).

**Distinctive IndusInd Bank positioning** <sup>[1][1], [2][2], [3][3]</sup>:
- **One of India's leading private sector banks** + **41M Indian customers Mar 31 2025**
- **3,081 Indian branches/banking outlets + 3,027 ATMs** (Mar 31 2025)
- **INDIE Bank distinctive Indian banking digital transformation**: INDIE app + INDIE for Business (60M+ MSMEs target)
- **IndusMobile officially discontinued by March 31, 2025** (IndusInd Bank customers switched from IndusMobile to INDIE)
- **2025 INDIE for Business launch** as comprehensive digital banking platform for India's 60M+ MSMEs (micro, small, and medium enterprises)
- **Hinduja family-controlled** — distinctive Indian Hinduja family banking heritage (Hinduja Group)
- **Apr 1994 IndusInd Bank founding by Indian community NRIs led by Srichand P. Hinduja** — distinctive Indian NRI-led banking heritage

## History

**Apr 1994 — IndusInd Bank founded by Indian community NRIs led by Srichand P. Hinduja** in Mumbai, India — distinctive Indian NRI-led banking heritage.

**1998 — IndusInd Bank IPO on NSE + BSE**.

**Oct 2008 — Romesh Sobti appointed IndusInd Bank CEO** → distinctive IndusInd Bank turnaround leader.

**2010 — IndusMobile mobile banking app launches**.

**2020 — Sumant Kathpalia appointed IndusInd Bank CEO** post-Sobti retirement.

**2022 — INDIE app launches** as IndusInd Bank's premium mobile banking app.

**Mar 31 2025 — IndusInd Bank serves approximately 41 million customers through 3,081 branches/banking outlets and 3,027 ATMs** <sup>[1][1], [2][2]</sup>.

**Mar 31 2025 — IndusMobile officially discontinued** (IndusInd Bank customers switched from IndusMobile to INDIE) <sup>[2][2]</sup>.

**2025 — IndusInd Bank launches INDIE for Business** as comprehensive digital banking platform for India's 60M+ MSMEs <sup>[3][3]</sup>.

## Ownership & operator

**Operating entity**: **IndusInd Bank Limited** (NSE: INDUSINDBK; BSE: 532187).

**Major shareholders**: **Hinduja Group (Hinduja family-controlled holding companies; ~16% controlling) + Vanguard + BlackRock + foreign + Indian institutional + Indian retail public float**.

**Regulator**: **RBI (Reserve Bank of India)**.

## Technical integration

**INDIE app (iOS + Android; IndusInd Bank's premium mobile banking app post-Mar 31 2025 IndusMobile discontinuation)** + indusind.com online + IndusInd Bank cards (Visa + Mastercard + RuPay + American Express) + IndusInd Bank 3,081-Indian branches/banking outlets + 3,027 ATMs + **INDIE for Business (2025 launch; comprehensive digital banking platform for India's 60M+ MSMEs)**; UPI + Bharat QR + IMPS + NEFT + RTGS.

**INDIE app distinctive features**: Scan-and-pay + easy personal loans + recharge + bill payments + zero-fee on transactions + Indian P2P + Indian merchant QR + investment + savings.

## Users & growth

**Mar 31 2025**: 41M IndusInd Bank Indian customers + 3,081 Indian branches/banking outlets + 3,027 ATMs.

## Use cases

Indian retail + private + corporate + SME + investment + insurance banking via **INDIE app (IndusInd Bank's premium mobile banking app)** + indusind.com online + cards + branches + **INDIE for Business** (comprehensive digital banking platform for India's 60M+ MSMEs); UPI + Bharat QR + IMPS + NEFT + RTGS; distinctive **scan-and-pay + zero-fee on transactions**.

## Implementations & partners

**Operator**: IndusInd Bank Limited (NSE: INDUSINDBK; BSE: 532187); Hinduja Group (Hinduja family-controlled holding companies; ~16% controlling) + Vanguard + BlackRock + foreign + Indian institutional + Indian retail public float.

**Subsidiaries**: **IndusInd Financial Markets** + **IndusInd International Holdings (IIHL; Hinduja Group; IIHL is Mauritius-based + IndusInd Bank major shareholder; Jun 2023 RBL Bank IPO underwriter)** + **IndusInd Marketing & Financial Services Private Limited (IMFS)**.

**Major Indian banking competitors**: [HDFC Bank App](https://docs.barcoder.ai/docs/wallets/hdfc-bank) (India #1 private; 2023 HDFC Limited reverse merger) + [ICICI Bank](https://docs.barcoder.ai/docs/wallets/icici-bank) (India #2 private; iMobile Pay) + [Axis Bank / Axis Mobile](https://docs.barcoder.ai/docs/wallets/axis-bank) (India #3 private; 14M Axis Mobile MAU; 2025 Citibank India retail migration completion) + [Kotak Mahindra Bank / Kotak811](https://docs.barcoder.ai/docs/wallets/kotak-mahindra) (India #4 private; Kotak811 = 3rd most-downloaded banking app worldwide H1 2025) + [Yes Bank](https://docs.barcoder.ai/docs/wallets/yes-bank) (Sep 2025 SBI 13.18% stake sale to SMBC for ₹8,889 crore; SMBC 24.9% Yes Bank largest shareholder) + [IDFC First Bank](https://docs.barcoder.ai/docs/wallets/idfc-first-bank) (Oct 1 2024 IDFC Limited + IDFC First Bank reverse merger) + [SBI YONO (State Bank of India)](https://docs.barcoder.ai/docs/wallets/sbi-yono) (India #1 by assets state-controlled; YONO 70M+ MAU).

**Regulator**: RBI.

## Fun facts

- **One of India's leading private sector banks** + **41M Indian customers Mar 31 2025**.
- **3,081 Indian branches/banking outlets + 3,027 ATMs** (Mar 31 2025).
- **INDIE Bank distinctive Indian banking digital transformation**: INDIE app + INDIE for Business (60M+ MSMEs target).
- **IndusMobile officially discontinued by March 31, 2025** (IndusInd Bank customers switched from IndusMobile to INDIE).
- **2025 INDIE for Business launch** as comprehensive digital banking platform for India's 60M+ MSMEs (micro, small, and medium enterprises).
- **Hinduja family-controlled** — distinctive Indian Hinduja family banking heritage (Hinduja Group).
- **Apr 1994 IndusInd Bank founding by Indian community NRIs led by Srichand P. Hinduja** — distinctive Indian NRI-led banking heritage.

## Comparison

| Feature | IndusInd Bank / INDIE | [HDFC Bank App](https://docs.barcoder.ai/docs/wallets/hdfc-bank) (India #1 private rival) | [ICICI Bank](https://docs.barcoder.ai/docs/wallets/icici-bank) (India #2 private + iMobile Pay rival) | [Axis Bank / Axis Mobile](https://docs.barcoder.ai/docs/wallets/axis-bank) (India #3 private + 14M Axis Mobile MAU rival) | [Kotak Mahindra Bank / Kotak811](https://docs.barcoder.ai/docs/wallets/kotak-mahindra) (India #4 private + Kotak811 = 3rd most-downloaded banking app worldwide H1 2025 rival) |
|---|---|---|---|---|---|
| Operator | **IndusInd Bank Limited (NSE: INDUSINDBK; BSE: 532187)** | HDFC Bank Limited (NSE: HDFCBANK) post-Jul 2023 HDFC Limited reverse merger | ICICI Bank Limited (NSE: ICICIBANK) | Axis Bank Limited (NSE: AXISBANK) | Kotak Mahindra Bank Limited (NSE: KOTAKBANK) |
| Type | **One of India's leading private sector banks + 41M Indian customers Mar 31 2025 + 3,081 Indian branches/banking outlets + 3,027 ATMs + INDIE distinctive Indian banking digital transformation + INDIE for Business 60M+ MSMEs target + Hinduja family-controlled** | India #1 private + 7,000+ branches + 25M+ HDFC Bank app users + 2023 HDFC Limited reverse merger | India #2 private + iMobile Pay 35M+ MAU + Apple Pay India launch partner | India #3 private + 5,876 branches + Axis Mobile 14M MAU + 2025 Citibank India retail migration completion | India #4 private + Kotak811 = 3rd most-downloaded banking app worldwide H1 2025 + Indian NBFC-to-bank conversion heritage |
| Country | IN | IN + 4+ countries | IN + 18+ countries | IN + 6+ countries | IN + 5+ countries |
| Distinctive | **Apr 1994 IndusInd Bank founding by Indian community NRIs led by Srichand P. Hinduja in Mumbai; 1998 NSE + BSE IPO; Oct 2008 Romesh Sobti CEO appointment; 2010 IndusMobile mobile app launch; 2020 Sumant Kathpalia CEO appointment; 2022 INDIE app launch (IndusInd Bank's premium mobile banking app); Mar 31 2025 IndusMobile officially discontinued; 2025 INDIE for Business launch (comprehensive digital banking platform for India's 60M+ MSMEs); Hinduja family-controlled** | 1994 founding; HDFC Limited 2023 reverse merger created India's #1 private bank | 1955 ICICI founding; 1994 ICICI Bank founding | 1993 UTI Bank founding + 2007 Axis Bank renaming; 2022 Citibank India retail business USD 1.6B acquisition | 1985 Kotak Mahindra Finance Limited founding by Uday Kotak; 2003 RBI bank licensing (Indian first NBFC-to-bank conversion); 2015 ING Vysya Bank merger |

## Status

**Active, one of India's leading private sector banks + 41M Indian customers Mar 31 2025** <sup>[1][1], [2][2], [3][3]</sup>:
- **IndusInd Bank Limited (NSE: INDUSINDBK; BSE: 532187)** since Apr 1994 IndusInd Bank founding by Indian community NRIs led by Srichand P. Hinduja in Mumbai + 1998 NSE + BSE IPO.
- **41M Indian customers + 3,081 Indian branches/banking outlets + 3,027 ATMs (Mar 31 2025)**.
- **INDIE app + Mar 31 2025 IndusMobile officially discontinued + 2025 INDIE for Business launch (60M+ MSMEs target)**.
- **RBI regulated**.

## Sources

[1]: https://www.indusind.bank.in/in/en/personal/our-apps.html "IndusInd Mobile Banking App — INDIE & other Banking apps Offered by IndusInd Bank"
[2]: https://cardinsider.com/blog/indie-new-banking-app-indusind-bank/ "INDIE: New Banking App from IndusInd Bank — CardInsider"
[3]: https://www.indusind.bank.in/in/en/about-us/mediabrand/FY/2025-2026/July/IndusInd-Bank-launches-INDIE-for-Business-a-Digital-first-Platform-Designed-to-Empower-Indias-60-million-MSMEs.html "IndusInd Bank launches 'INDIE for Business' — IndusInd Bank"
[in-cro]: https://docs.barcoder.ai/docs/payments/IN

- [1] [IndusInd Mobile Banking App — INDIE & other Banking apps Offered by IndusInd Bank][1]
- [2] [INDIE: New Banking App from IndusInd Bank — CardInsider][2]
- [3] [IndusInd Bank launches 'INDIE for Business' — IndusInd Bank][3]
- <sup>[India report](https://docs.barcoder.ai/docs/payments/IN)</sup> In-corpus: `reports/countries/IN-india.md`

## Source

Biography extracted from [indusind-bank.md](https://docs.barcoder.ai/source/wallets/indusind-bank). See `matrix.md` for standards-support matrix if present.