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He is a seasoned finance leader with over 27 years of professional experience across banking and professional services. Most recently, he served as the chief financial officer (CFO) for Bank of America India, where he oversaw the Bank’s branch entity and BofA Securities India. Prior to Bank of America, he worked with Citibank N.A. in India, Bangladesh, and Sri Lanka and with Price Waterhouse Coopers.
Consequent to this appointment, the additional responsibilities of Santosh Kumar as special officer-finance & accounts and his categorization as a key managerial person cease with immediate effect. Santosh Kumar will continue to be the deputy CFO of the bank.
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 counter declined 1.14% to Rs 734.85 on the BSE.
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.”