SBI and NCR Corporation Ink the Largest ATM Deal in India.Business Editors MUMBAI, India--(BUSINESS WIRE)--April 28, 2003 State Bank of India State Bank of India (SBI) (LSE: SBID) is the largest bank in India. If one measures by the number of branch offices and employees, SBI is the largest bank in the world. Established in 1806 as Bank of Bengal, it is the oldest commercial bank in the Indian Subcontinent. (SBI SBI Special Background Investigation SBI Subsidiary Body for Implementation SBI State Bank of India SBI Secure Border Initiative SBI Small Business Institute SBI Stockholm Brain Institute SBI Serious Bacterial Infection SBI Society of Breast Imaging ), India's largest bank, and NCR Corporation (company) NCR Corporation - Electronics company mainly active in the midrange server market. NCR was founded 1884 as National Cash Register Company. It joint the computer industry in th 1950s. (NYSE NYSE See: New York Stock Exchange :NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers ), the world's leading provider of financial self-service solutions, have signed an agreement to deploy about 1,500 automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATMs) in the next 18 months. With this deployment, SBI will have the largest network in India, with over 3,000 ATMs spanning the length and breadth of the country. The contract, signed in Mumbai, encompasses hardware, total installation services and ATM network management services. A. K. Purwar, chairman, State Bank of India said, "SBI is at the forefront of the technological revolution that is sweeping the banking and finance sector in India. For us and our consumers, the differentiator will be technology and our ability to serve our customers in a manner most 'convenient' to them." Deepak Chandnani, general manager of NCR's Financial Solutions Division in India, said, "We are committed to fully supporting State Bank of India's retail and technical initiative. We are with them every step of the way, be it installing an ATM, providing a host of related services or remotely managing the entire network from our ATM Management Centre." The State Bank of India ATMs will have a host of functions including mobile phone top-ups, utility bill payment, voice guidance for ATM operations, multilingual screens and a touch screen ATM locator. These new functionalities will enhance the entire self-service experience, making it more convenient for consumers. About NCR Corporation NCR Corporation (NYSE:NCR) is a leading global technology company helping businesses build stronger relationships with their customers. NCR's ATMs, retail systems, Teradata(R) data warehouses and IT services provide Relationship Technology(TM) solutions that maximize the value of customer interactions. Based in Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. , NCR (www.ncr.com) employs approximately 29,600 people worldwide. NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries. |
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