[sbinews] SBI Awards ATM CDMA Link To Reliance Infocomm (Financial Express)
- From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
- To: sbinews@xxxxxxxxxxxxx
- Date: Fri, 16 Apr 2004 21:00:01 -0700 (PDT)
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SBI Awards ATM CDMA Link To Reliance Infocomm
(Financial Express)
OUR BUREAUS
MUMBAI, APRIL 16: The country?s largest bank State
Bank of India (SBI) has awarded the CDMA wireless
connectivity project for 100 of its ATMs to Reliance
group company Reliance Infocomm. This comes after SBI
has found that CDMA wireless connectivity is the
cheapest form of connectivity as compared to other
options like V-SAT.
A statement from Reliance Infocomm says this is the
largest migration of ATMs in the wireless connectivity
mode. In February, SBI had deployed India?s first
floating ATM in a ferry in Kerala employing Reliance
Infocomm?s wireless connectivity. A senior SBI
official said the scope of the project will be
expanded depending on its effectiveness.
According to Reliance Infocomm?s Head - Financial
Vertical, Kishore Oka, the arrangement saves time
since V-SAT based connectivity involves higher costs
and seeking government approvals. ?Our estimate is
that SBI will save about 30 per cent on operational
expenses through the current tie-up? he indicated.
While the agreement with SBI will initially cover 100
ATMs, Mr Oka pointed out there was an opportunity
where ATMs are located off-site.
Reliance Infocomm already has such agreements with
HDFC, ICICI, Bank of Punjab, Citibank and Euronet. In
the case of SBI, Reliance?s fixed wire terminal (FWT)
will be placed at the ATM and will function as the
last mile access.
Mr Oka declined to comment on the financial aspects of
the deal. Reliance Infocomm, he added, is in dialogue
with several other banks for a similar kind of
arrangement; most of these banks do not have a
centralised banking solution.
=====
R.S.Pai, Web Address: http://rspai.tripod.com
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