IndusInd Bank bags 'Governance Now' Award for 'SME Connect' category

IndusInd Bank today announced that it has been awarded at the 'Governance Now 5th India BFSI Conclave & Awards' under the category - 'SME Connect' for initiating 'Indus Credit for Business'. The award acknowledges the Bank's outstanding journey in supporting the SME ecosystem and promoting digital financial inclusion in the country by offering credit to MSMEs digitally through 'Indus easy credit stack for business'. The award was received by Charu Sachdeva Mathur, Head - Digital Banking and Strategy (Existing Business), IndusInd Bank. The Award won at the 'Governance Now 5th India BFSI Conclave & Awards' announced on October 12, 2022. The Award won under the category - 'SME Connect' for initiating 'Indus Credit for Business'.

Governance Now 5th India BFSI Conclave & Awards 2022 recognizes the contributions made by the BFSI and Fintech sector in developing and including digital finance in the country. It recognizes the best solutions made possible by emerging technologies that are assuring industry continuity and resilience.

Speaking about the award, Charu Sachdeva Mathur, Head - Digital Banking and Strategy (Existing Business), IndusInd Bank, said, "We are honoured to have been recognized for our efforts at the prestigious Governance Now 5th India BFSI Conclave & Awards. IndusInd Bank is committed to accelerating India's economic growth by empowering the MSME sector. This award serves as a testimony to the Bank's efforts towards supporting the MSME sector in India by providing small and large ticket-size loans in order to help them expand and run their business and in turn promote accelerated growth of the MSME sector in India."

With 'Indus easy credit stack for business', Indian MSMEs can digitally apply for credit and receive a collateral-free loan from the bank of up to 20 lakhs immediately into their bank account. The platform enables the customers to leverage non-traditional digital information like banking, GST, and bureau repayment data as well as new age scorecards for quick and simple access to financing for the MSME segment for loans ranging from 2 lakhs to 2 Crore.

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on June 30, 2022, IndusInd Bank has Branches / Banking Outlets and ATMs spread across geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.

RATINGS

Domestic Ratings:

- CRISIL AA + for Infrastructure Bonds program/Tier 2 Bonds - CRISIL AA for Additional Tier 1 Bonds program - CRISIL A1+ for certificate of deposit program / short term FD program - IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research - IND AA for Additional Tier 1 Bonds program by India Ratings and Research - IND A1+ for Short-Term Debt Instruments by India Ratings and Research

International Ratings:

- Ba1 for Senior Unsecured MTN programme by Moody's Investors Service

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( With inputs from ANI )

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