CMS, India's biggest money management organization, has struck a Rs 450-crore contract with State Bank of India (SBI), the nation's largest moneylender, to give 7,850 Automated Teller Machines or ATM's.
CMS's CEO and Vice Chairman Rajiv Kaul stated, that the contract which they got, is the largest in the world, however this couldn't be freely checked.
During the tenure of the contract, CMS will furnish SBI end-to-end result usage administrations, ATM establishment, upkeep and back for the following seven years. Kaul stated that the new frameworks of the ATM's will be in fact technologically superior to SBI's current ATM's. Features will also include voice direction frameworks. It will be easy for users, who would want to read chip-installed check cards.
The Indian market presents an immense chance in this space. CMS has bobbed back and in 2012/13 reported income of Rs.1,000 crore, in comparison to the state of the company a couple of years back.