The bank is awaiting approvals from NPCI to extend the app to all its customers.
Public sector lender Indian Bank has joined private banks and a few tech savyy PSU banks to build its own UPI app. Indian Bank recently launched IND-UPI, a UPI-based payment solution developed by them.
The app, which is now live for a closed user group, is helping customers facilitate UPI transactions within the Indian Bank ecosystem instead of using the third party providers. The bank is awaiting approvals from NPCI to extend the app to all its customers.
Binod Kumar MD & CEO, Indian Bank, said that they decided to build the app as they were spending nearly ₹150 crore (₹12 cr a month) for transactions undertaken by their customers in third party provider apps. “We can now save this and pass on the benefits to our own customers when they use the IND-UPI app for UPI transactions,” he said. This is set to be in the nature of cashbacks, scratch cards and other ways.
Developing the app was not very costly for us, and as it scales, we also have plans to integrate the IND-UPI app within their own mobile banking app, Kumar added.
Published on July 24, 2025
