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IndusInd Bank was established in the context of India's significant economic reforms, commencing operations on April 17, 1994, as one of the country's "new-generation" private sector banks. The bank was promoted by the Hinduja Group, with S. P. Hinduja leading the initiative alongside hundreds of Non-Resident Indian (NRI) and other shareholders, aiming to create a technologically advanced, customer-centric financial institution. Its founding was a direct result of the early 1990s liberalization policy that permitted greater private sector participation in the banking industry. The bank's initial public offering (IPO) was launched in 1997, and a key strategic expansion occurred in 2004 with its merger with Ashok Leyland Finance, which significantly strengthened its retail finance business.

Currently, IndusInd Bank Limited is a public Indian banking and financial services company, listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It holds significance in the Indian financial system as one of the leading private sector banks and an early adopter of technology for customer service. The bank has strategically expanded its reach and product portfolio, notably through the acquisition of Bharat Financial Inclusion Limited (BFIL) in 2017, which substantially augmented its microfinance portfolio and outreach to underserved populations. Specializing in areas like vehicle financing, micro-financing, and diamond manufacturer financing, IndusInd Bank is recognized as a major financial services provider, catering to individuals, large corporations, and government entities across India with a growing network of branches and ATMs.