In this technology driven age, IndusInd Bank is determined to provide its customers with excellent and convenient services. In order to continue this trend, it has announced its tie-up with Avenues, South Asia’s largest integrated ecommerce company for its solutions CCAvenue and ResAvenue. They are India's largest neutral online payment gateway and India's complete reservation engine with an in-built payment gateway for the Hospitality Industry respectively. IndusInd Accounts Holders can now buy and pay directly for goods, services through their Net Banking accounts.

IndusInd Bank Ltd. is a relatively new bank, begun its operations in 1994. A decade later, it is one of the fastest growing private sector banks in the country with a net worth of Rs. 829 crores (as of March 31, 2005). It has achieved global benchmarks in the field of retail banking and has also introduced novel products such as Indus International Mahila Card and Indus Young Saver Scheme. IndusInd remains true to its commitment to its customers by providing them with cutting edge services through its ever expanding network of branches.

Mr. Varghese Thambi, Sr. Vice President and Head of Retail Banking IndusInd Bank says, "The tie-up with Avenues will ensure that IndusInd Bank services are at the cutting edge of technology. This will be beneficial for our customers as they can now use their IndusInd Bank Accounts to pay for the goods and services of over 4000 of Avenues' web merchants retailing millions of different types of products and services. They will also be able to make and pay for hotel reservations online."

About IndusInd Bank
IndusInd Bank Ltd., one of the fastest growing private sector banks in the country, started its operations in 1994. The Bank has a net worth of Rs 829 crore as at March 31, 2005. It has established and upgraded its support systems for the introduction of retail banking products and alternative delivery channels, while continuing to expand its network of branches. The Bank posted a growth of 115% in its Branch expansion wherein 70 additional branches were opened within a span of fifteen months. As on date, the Bank has 246 outlets, including 131 branches, 9 extension counters, 26 Vehicle Finance Division and 80 offsite ATMs apart from representative offices in Dubai and London.

IndusInd Bank has received P1+ and F1+ ratings for Fixed Deposits and Certificates of Deposit by CRISIL and Certificate of Deposits from Fitch Ratings India Private Limited respectively. It has also recently become a clearing banker for NCDEX.
For more information about IndusInd Bank, please visit www.indusind.com

About Avenues India Pvt Ltd
Established in the year 2001 and headquartered in Mumbai, India, Avenues provides turnkey e-commerce solutions to over four thousand eMerchants worldwide through its solutions www.CCAvenue.com , www.ResAvenue.com , www.EventAvenue.com. It is the largest eCommerce solutions provider in South Asia. CCAvenue, its payment gateway solution, is the preferred Indian payment-processing service for e-commerce, providing server-based payment solutions, enabling merchants to process secure transactions in real time, 24 hours a day. The company's services are powered by proprietary technology that integrates online payment processing, fraud control, financial reporting and tracking. Avenues has formed strategic alliances with leading financial institutions and technology partners to deliver the most comprehensive online authorization and processing services available to Indian eMerchants. Every Avenues solution comes with a secure, comprehensive payment service and an accounting module to maximize growth at every stage of a merchant's business lifecycle. For more information about CCAvenue, please visit the company online at www.CCAvenue.com or call (022)-67425555.