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Published on: Monday, Mon, 23 Jun 2025 ● 4 Min Read
MUMBAI, India, June 23, 2025 -- IndusInd Bank announced that it has received the Digital Payments Award 2023-24 from the Department of Financial Services (DFS), Ministry of Finance - Government of India. The Bank earned this recognition by securing third position among private sector banks for delivering outstanding performance in digital payments during the financial year 2023–24. The award ceremony, which took place on June 18, 2025, at Vigyan Bhavan, New Delhi, was graced by the Union Minister of Finance Smt. Nirmala Sitharaman as the Chief Guest, and Shri Pankaj Choudhary, Minister of State for Finance as the Guest of Honour, among other dignitaries.
This award stands as a testament to IndusInd Bank's unwavering commitment towards advancing its digital capabilities and delivering a secure, scalable and innovative digital payment solutions that empower millions across the country. As per the official scorecard released by the Department of Financial Services, the Bank achieved 120% of its digital transaction target in FY23-24 - highest among all private sector banks in India. The award was presented to IndusInd Bank - Mr. Ritesh Raj Saxena, Head of Direct Banking and Mr. Dev Ratan Suri, Head - SDG (Payments, Cards and Govt Business) by Shri M. Nagaraju, Secretary, Department of Financial Services and Dr. Abhijit Phukon, Economic Advisor, DFS, at the Digital Payments Award ceremony.
Speaking on this achievement, Mr. Soumitra Sen – Head of Consumer Banking & Marketing, IndusInd Bank, said, "We are honoured and grateful to the Department of Financial Services, Ministry of Finance, for conferring us with this award and recognizing IndusInd Bank's efforts in driving digital adoption across the country. This recognition reinforces our resolve to continuously innovate and offer our customers intuitive, secure, and personalised banking experiences through our differentiated platforms, such as INDIE. We remain committed to supporting India's digital journey and making banking accessible and effortless for every segment of society."
IndusInd Bank, under its Digital 2.0 strategy, continues to deliver seamless, inclusive, and innovation-led financial experiences. Our flagship app, INDIE, highly rated financial app on the App Store is redefining retail banking with 1.6 million active users. The bank's digital credit platform processed 1.2 million applications monthly through fully digital journeys. With an overall digital transaction mix at 93% (as of March 31, 2025), IndusInd Bank remains at the forefront of India's digital payments space.
About IndusInd Bank:
IndusInd Bank Limited has been redefining banking for the past 30 years and has been a force for progression and innovation, offering an elevated banking experience for its diverse range of stakeholders, including government entities, PSUs, retail customers, and large corporations. The Bank's product offerings include microfinance, personal loans, debit/credit cards, SME loans, advanced digital banking facilities, affluent and NRI banking services, vehicle financing, and innovative ESG-linked financial products. The Bank also caters to the growing Indian diaspora with representative offices in London, Dubai, and Abu Dhabi. As of March 31, 2025, IndusInd Bank serves approximately 41 million customers through 3,081 branches/banking outlets and 3,027 ATMs, reaching 1,62,000 lacs villages across India. IndusInd Bank leverages technology through its 'Digital 2.0' strategy, ensuring multi-channel delivery and a robust digital infrastructure. In each of its unique offerings that include 'INDIE' – the one-stop-shop for all things digital banking; innovation and customer centricity remain at the core. IndusInd Bank holds clearing bank status for major stock exchanges BSE and NSE, settlement bank status for NCDEX, and is an empanelled banker for MCX.
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View original content:https://www.prnewswire.com/in/news-releases/indusind-bank-honoured-for-outstanding-performance-in-digital-payments-by-the-department-of-financial-services-ministry-of-finance-302487921.html
