Diebold to install nearly 1,700 ATMs for SBI in FY12

Diebold will deploy around 1,000 cash dispensers, over 600 full-function lobby ATMs and around 60 cash recyclers

State Bank of India (SBI) has signed an agreement with the US-based ATM provider Diebold Inc to install nearly 1,700 machines this fiscal as part of the retail expansion plan of the country's largest lender.

Under the contract, Diebold will deploy around 1,000 cash dispensers (CDs), over 600 full-function lobby ATMs and around 60 cash recyclers (CRs), Diebold said in a release. With this expansion, SBI's total ATM network will grow to over 28,000. The Northeastern region will have an added thrust in this new expansion plan. "As the self-service market evolves, automated self-service deposit functions continue to gain popularity. The State Bank Group has decided to adopt deposit automation to enhance the self-service technology on ATMs, and we look forward to delivering our solution and further developing our relationship with the SBG," Diebold south Asia vice-president and managing director Naresh Hosangady said.

Diebold is providing SBI with its full-function models D450s and D422 CDs. Power consumption on these ATMs will be approximately 40 per cent less than conventional processors, he added. The Mumbai-based India unit is a wholly-owned subsidiary of Diebold Inc, headquartered in the Canton, Ohio in the US. A leader in managed services for ATMs, Diebold provides round the clock service to more than 27,000 ATMs in the country. Globally, Diebold is present in nearly 90 countries.

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ICICI Prudential Mutual Fund floats one year fixed maturity plan

ICICI Prudential Mutual Fund new issue closes on 18th May

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 55-1 Year Plan G, a close-ended income scheme.

The investment objective of the plan is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenor of the plan is one year.

The new issue closes on 18th May. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.

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DSP BlackRock Mutual Fund floats three months fixed maturity plan

DSP BlackRock Mutual Fund new issue closes on 18th May

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-3M-Series 35, a close-ended income scheme. The tenor of the plan is three months.

The investment objective of the schemes is to seek capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The schemes may also use fixed income derivatives for hedging and portfolio balancing.

The new issue closes on 18th May. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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