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CRED has launched a new credit card program with rewards across all e commerce, and instant, flexible redemption on flights, hotels, hundreds of merchants, and thousands of products. The first launch in this program is the CRED IndusInd Bank Rupay credit card.
Kunal Shah, founder, CRED said, “The creditworthy deserve the freedom of choice. The new CRED credit card program turns every online spend into an act of self-expression, with rewards that follow taste, not terms. Instant redemption upgrades every transaction, merging product, platform, and privilege into a seamless lifestyle extension.”
Soumitra Sen, Country Head – Consumer Banking & Marketing, IndusInd Bank said, “The IndusInd CRED partnership is a natural fit – both brands share a DNA of innovation, exclusivity, and premium experiences. CRED brings a highly curated, digital-native community, while IndusInd brings the banking pedigree, credit expertise, and lifestyle benefits. Together, this co-brand will capture the fast-growing e commerce and affluent spend segment, positioning the card as the default choice at checkout and reinforcing our leadership in the premium consumer space.”
IndusInd Bank Ltd lost 0.16% today to trade at Rs 745.55. The BSE BANKEX index is down 0.16% to quote at 60018.05. The index is down 3.56 % over last one month. Among the other constituents of the index, ICICI Bank Ltd decreased 0.12% on the day. The BSE BANKEX index went up 3.1 % over last one year compared to the 2.59% fall in benchmark SENSEX.
IndusInd Bank Ltd has lost 7% over last one month compared to 3.56% fall in BSE BANKEX index and 1.81% drop in the SENSEX. On the BSE, 7437 shares were traded in the counter so far compared with average daily volumes of 1.43 lakh shares in the past one month. The stock hit a record high of Rs 1498.7 on 19 Sep 2024. The stock hit a 52-week low of Rs 605.4 on 12 Mar 2025.
He joined Axis asset management company in 2009 as its founding managing director & CEO. In his next assignment, he was appointed president of retail banking at Axis Bank. Subsequently, he was inducted into the board of the Axis Bank and took over as the head of wholesale banking.
The board had constituted the Committee of Executives to oversee the operations of the bank, under the oversight and guidance of the Oversight Committee of the board. With the assumption of charge by MD & CEO effective on 25th August 2025, the Committee of Executives and Oversight Committee of the board thus stands dissolved.
Sunil Mehta, the chairman of the board of directors, IndusInd Bank said: “On behalf of the Board, I welcome Rajiv Anand as the MD & CEO of the Bank. The board looks forward to working closely with Mr. Anand and the management team and taking it to new heights. The board also appreciates the efforts of the Oversight Committee and the Committee of Executives. During this interim period, the bank has made robust progress ascertaining root causes of legacy issues and addressing control gaps. The board also made significant progress in assessing individual roles and responsibilities and fixing staff accountability. The bank is now embarking on growth journey under the new leadership while prioritizing highest standards of governance and integrity.”
Indusind Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.
The bank reported a 68.21% decline in standalone net profit to Rs 684.25 crore on 3.79% fall in total income to Rs 14,420.12 crore in Q1 FY26 over Q1 FY25.
The scrip shed 0.48% to Rs 768.30 on the BSE.