Chennai, June 21, 2025: IndusInd Bank has been honoured with the prestigious Digital Payments Award 2023–24 by the Department of Financial Services (DFS), Ministry of Finance, Government of India. The Bank secured third position among private sector banks for its outstanding contribution to digital payments during FY 2023–24.

The award ceremony was held on June 18, 2025, at Vigyan Bhavan, New Delhi, in the presence of Smt. Nirmala Sitharaman, Union Minister of Finance, as the Chief Guest, and Shri Pankaj Choudhary, Minister of State for Finance, as Guest of Honour, alongside other distinguished dignitaries.

Recognition for Driving Digital Transformation

IndusInd Bank’s achievement is a reflection of its focused efforts to scale and secure digital payment infrastructure across the country. According to the official scorecard released by DFS, the Bank exceeded its digital transaction target by 120% in FY 2023–24—the highest among all private sector banks in India.

The award was presented to Mr. Ritesh Raj Saxena, Head of Direct Banking, and Mr. Dev Ratan Suri, Head – SDG (Payments, Cards, and Government Business), by Shri M. Nagaraju, Secretary, DFS, and Dr. Abhijit Phukon, Economic Advisor, DFS.

Leadership Perspective

Commenting on the recognition, Mr. Soumitra Sen, Head – Consumer Banking & Marketing, IndusInd Bank, said:
“We are honoured and grateful to the Department of Financial Services for recognising our role in advancing digital payments across India. This award reinforces our commitment to innovation and customer-centric digital banking through platforms like INDIE. We will continue to create seamless, secure, and inclusive banking experiences to support India’s digital journey.”

Commitment to Digital Excellence

Under its Digital 2.0 strategy, IndusInd Bank is redefining financial experiences with technology-led solutions:

• INDIE, the Bank’s flagship app, now boasts 1.6 million active users and is one of the top-rated financial apps on the App Store.

• The digital credit platform processes 1.2 million applications per month, offering customers end-to-end digital journeys.

• As of March 31, 2025, the Bank reported a 93% digital transaction mix, underscoring its leadership in digital adoption.

IndusInd Bank remains committed to empowering every customer segment with intuitive, scalable, and future-ready banking solutions that align with India’s rapidly evolving digital ecosystem.