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( As on 20/06/2025 11:50)

IndusInd Bank recognized for excellence in digital payments by MoF

IndusInd Bank has been awarded the prestigious Digital Payments Award 2023–24 by the Department of Financial Services (DFS), Ministry of Finance, Government of India. The bank secured third place among private sector banks for its exceptional performance in digital payments during FY 2023–24.

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

This recognition underscores IndusInd Bank’s strong commitment to enhancing its digital infrastructure and delivering secure, innovative, and scalable digital payment solutions across the country. According to the DFS scorecard, the bank achieved 120% of its digital transaction target 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 of SDG (Payments, Cards, and Government Business) by Shri M. Nagaraju, Secretary, Department of Financial Services, and Dr. Abhijit Phukon, Economic Advisor, DFS.

Commenting on the achievement, Mr. Soumitra Sen, Head – Consumer Banking & Marketing, IndusInd Bank, said, “We are deeply honored and thankful to the Department of Financial Services for recognizing our efforts in driving digital banking adoption nationwide. This award reaffirms our dedication to delivering intuitive, secure, and personalized banking experiences through platforms like INDIE. We are proud to support India’s digital transformation and to make banking simple and accessible for all.”

As part of its Digital 2.0 strategy, IndusInd Bank continues to lead with inclusive, seamless, and innovation-driven financial solutions. Its flagship mobile app, INDIE, with 1.6 million active users and top ratings on the App Store, is redefining the retail banking experience. The bank’s fully digital credit platform handles 1.2 million applications each month. With a 93% digital transaction share as of March 31, 2025, IndusInd Bank remains a frontrunner in India’s digital payments landscape.