CMS Info Systems has bagged a contract from State Bank of India (SBI) & its associate banks to deploy more than 2300 cash recyclers across the country. This is the second large project that CMS has got from SBI within a span of one year. In 2013, CMS had won a contract to deploy more than 7500 ATMs and 800 Cash Recyclers on behalf of SBI and associate banks. The current deployment is part of the second round of ramping up of Cash Recyclers by the bank.
Cash recyclers are secure ATMs having the multi-functional ability to dispense cash or accept deposits with bundles of up to 200 currency notes. Cash recyclers can count and authenticated currency notes and enables immediate credit to the depositor’s account.
“Over the last one year we have witnessed tremendous growth in the market for Cash Recyclers. We have partnered with Nautilus Hyosung, the fourth largest ATM manufacturer in the world, to bring some of the best self-service terminals for banks available worldwide, to India,” said Rajiv Kaul, Executive Vice Chairman and CEO of CMS Info Systems.
The value of the deal is around Rs 255 crores and includes two years of warranty and five years of support for the machines. SBI is likely to deploy these machines pan India with Chennai, Kolkata, Bhopal, Lucknow, Mumbai, Patna and Guwahati being among the key cities.