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CMS Info Systems to invest Rs 200 cr to set up ATMs for SBI

Tuesday, 05 Jan 2021
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CMS Info Systems will set up 3,000 ATMs by March 2021 for the State Bank of India (SBI) as the bank looks to expand the outsourced model.  

The company has received a mandate from SBI for deployment of 3,000 ATMs. As part of the term sheet, the company will select the site, deploy ATMs, provide cash management services, regular maintenance and upkeep of ATMs.

The outsourced model or Brown Level ATM (BLA) is managed by the service provider on behalf of a bank.  Most of these ATMs are offsite ATMs.

The company will make an investment of Rs 200 crore for putting up new ATMs. It will also hire 2,000 employees for managing these sites.

The contract is valid for seven years, extendable up to three years on mutual agreement.

The total number of BLAs under CMS Info Systems will increase to 5,000.

 
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