IndusInd Bank Ltd. received the prestigious ‘Best use of technology in E-learning Initiatives-2010’ award in the private bank category by Indian Banks’ Association (IBA) on Tuesday, March 2, 2011. The bank was awarded based on the knowledge management technologies used for internal knowledge sharing & E-Learning with effective measurement & monitoring of training initiatives.
The Bank was also in the runners up of the ‘Best use of technology in Risk Management’ award. The parameters of this award was based on the steps undertaken to strengthen risk framework during year 2010 and this initiative brought out tangible benefit in monetary, reputation and compliance requirement.
Mr. Paul Abraham, COO, IndusInd Bank said, “The effective use of technology is one of the important drivers of growth for our Bank. Training is an effective tool which is important for creating a productive work force and adoption of this channel is a great, low cost/ high coverage initiative for us. We have also put in place a robust risk management system for providing better and secured customer service. This recognition is of great encouragement to all our employees.”
About IndusInd Bank
IndusInd Bank, which commenced its operations in 1994, caters to the needs of both consumer and corporate customers. It has a robust technology platform supporting multi-channel delivery capabilities. As on date, IndusInd Bank has 258 branches and 565 ATMs spread across 192 geographic locations of the country. The Bank also has 2 Representative offices, one each in London and Dubai.
The Bank believes in driving its business through technology. It has multi-lateral tie-ups with other banks providing access to their ATMs for its customers. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. It also offers DP facilities for stock and commodity segments. The Bank has been bestowed with the mandate of being a Settlement Banker for six tea auction centres.
During the third quarter FY 11, the Bank received a series of accolades commencing with 2010 Global Awards for Excellence in BPM and Work flow from Pacific Rim (Asia and Australia) for Design Comprehensiveness, Implementation speed and Process coverage of the I-works platform. The Bank also ranked 2nd in the fastest growing Bank (mid-size) category – published in “India’s Best Banks” report by Business World and PWC. The State Forum of Bankers Clubs, Kerala bestowed on the Bank ‘Excellence Award’ as the 2nd best New Generation Bank in Kerala for the second consecutive year.
Recently, CRISIL has reaffirmed its P1+ rating of IndusInd Bank's fixed deposits and certificates of deposit program. Credit rating agency ICRA Ltd. has upgraded Lower Tier II Bonds rating of the Bank to LAA- (pronounced L double A minus) rating with stable outlook from LA+ (pronounced L A plus) rating with stable outlook. ICRA has also upgraded the Upper Tier II Bonds rating of IBL to LA+ rating with stable outlook from LA (pronounced L A) rating with stable outlook.
Visit us at www.indusind.com