Mumbai: IndusInd Bank has been honoured with the Digital Payments Award 2023–24 by the Department of Financial Services (DFS), Ministry of Finance, Government of India.
The award recognises the bank’s outstanding contribution to digital payments and its continued efforts in building a secure, inclusive, and scalable digital ecosystem.
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Presented during the Digital Payments Awards ceremony held on June 18, 2025, at Vigyan Bhavan, New Delhi, the event was presided over by Union Finance Minister Nirmala Sitharaman, along with Pankaj Choudhary, Minister of State for Finance.
IndusInd Bank secured third place among private sector banks for achieving 120% of its annual digital transaction target – the highest among all private banks in FY 2023–24.
“We’re honoured to receive this recognition from the Ministry of Finance,” said Soumitra Sen, Head of Consumer Banking & Marketing, IndusInd Bank. “This award strengthens our resolve to offer intuitive, secure, and customer-centric digital banking experiences through platforms like INDIE and our Digital 2.0 strategy.”
The award was presented to Ritesh Raj Saxena, Head of Direct Banking, and Dev Ratan Suri, Head – SDG (Payments, Cards and Government Business), by M Nagaraju, Secretary, DFS, and Dr Abhijit Phukon, Economic Advisor, DFS.
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Digital Payments Award: IndusInd Bank’s Digital Impact
- Surpassed 120% of its FY24 digital transaction target
- Achieved a 93% digital transaction mix as of March 31, 2025
- Over 1.6 million active users on its flagship INDIE app
- Processes 1.2 million monthly applications via digital credit journeys
Under its Digital 2.0 vision, IndusInd Bank continues to lead India’s digital payments landscape with future-ready, user-friendly, and highly secure platforms, contributing to India’s broader goal of a digitally empowered economy.
