IndusInd Bank Plans Expansion in Ayodhya with Four New Branches

IndusInd Bank, a private sector lender, is contemplating the opening of four additional branches in Ayodhya, as revealed by a top official on Thursday. The city-based bank, backed by the Hindujas, already operates a branch in the sacred city, set to witness the consecration of the Ram Temple on January 22.

Sumant Kathpalia, the Managing Director and Chief Executive of IndusInd Bank, highlighted the vibrancy of Uttar Pradesh (UP) as a state. He noted the bank’s significant presence in other UP cities like Kanpur and Lucknow. Although he didn’t specify a timeline for expansion in Ayodhya, Kathpalia confirmed the existing branch in the city and announced plans to add four more branches to cater to the growing needs.

In the December quarter, the bank successfully incorporated 98 new branches, expressing confidence in achieving all previously set targets outlined in their medium-term business growth plan. The decision to expand in Ayodhya aligns with the city’s increasing significance, especially with the upcoming consecration ceremony at the Ram Temple. IndusInd Bank’s strategic move aims to contribute to the financial accessibility and services available in the region, in line with its commitment to sustained growth.