Financial Institutions and Correspondent Banking

With a range of customized solutions designed to suit the needs of the global banking sector, we cater to our large array of financial institutional clients. Be it Domestic or Foreign banks, Development Financial Institutions or Multilateral Agencies, we have built relationships with all major financial institutional players in both public and private sectors.

Indusind Bank maintains correspondent banking relations with major banks across the globe and provides a wide range of products and services engineered to suit the needs of the banks domiciled outside India.

Over the years Financial Institutions Group (FIG) at IndusInd Bank Ltd (IBL) has evolved into a specialized sectoral vertical of the Bank handling RMA relationships with Banks & Financial Institutions around the globe, opening and maintaining Nostro and Vostro Accounts, extending banking and allied services to international clients of our partner banks etc. Our mission is to be the “Gateway to India” for partner banks by providing a comprehensive suite of services such as trade & payments, account services, FX solutions etc. The group works closely with partner banks and focuses on providing tailor-made solutions in International trade, cross-border remittances, treasury products etc.

Our suite of services to correspondent banks include :

• Nostro/Vostro accounts and INR clearing services.
• Export Letter of Credits – Advising, Confirmation, Discounting, etc.
• Trade Credits – Buyer’s credit, Supplier’s credit, Reimbursement financing, etc.  
• Bank Guarantees – Local BGs against counter guarantee/SBLCs of partner banks
• Standby Letter of Credit backed facilities to corporate clients
• Retail (INR) Remittances and Asian Clearing Union (ACU) payments  
• Global Markets Products – FX, Hedges, Money Market Placements and Lendings etc.
• Checking accounts, Staff accounts, FX etc. for foreign companies setting up businesses in India

Click here for our list of Nostro Accounts for our Head Office
Click here for our list of Nostro Accounts for our IBU GIFT City
Click here for Standard Settlement Instructions for our Head Office
Click here for Standard Settlement Instructions for our IBU GIFT City

• Reference to IFSCA circular IFSCA-FMPP0BR/9/2023/Banking/2 dated March 22, 2024 it may be noted that the IFSC code for Indusind Bank IBU GIFT Branch is GIFT0INDB01

Wolfsberg Questionnaire and other AML/KYC documents required for Correspondent Banks 

• Wolfsberg Questionnaire
• W-8BENE-FATCA Declaration
• Banking Licence Copy
• AML/KYC/CFT Policy (Synopsis)
• USA Patriot Act Certification

To know more about our services, please contact us at:

FIG@IndusInd Bank maintains correspondent banking relations with banks across the globe and provides a wide range of products and services engineered to suit the needs of the banking sector. The group works closely with various client facing groups within the Bank and focuses on providing solutions in International trade and payments, treasury and liquidity to our customers.

Our services include -

INR Remittances  -  Click here to see the list of banks with whom we have rupee drawing arrangements (Vostro Accounts, Remittance tie-ups etc.)
Nostro Accounts – Click here to see our List of Nostro Accounts in different currencies for Cross Border Payments and Receipts.

Trade Services –

• Export Letter of Credits - Advising, Confirmation, Discounting, etc.
  With our wide RMA arrangement and extensive branch network we can advise LCs from more than 1500 banks across the globe to any customer in India.
• Trade Credits - With our robust network of partner banks, we are able to arrange Trade Credits at competitive rates across the globe.
• International bank guarantees and SBLC confirmations - We can arrange issuance of Bank Guarantees and SBLCs in different countries with well-defined TATs and reasonable pricing.

For any clarification or more information, you may contact your Branch or Relationship Manager.