TCS wins project worth Rs85 crore from Indian Bank

Software firm Tata Consultancy Services (TCS) said it has won a three-year deal worth Rs85 crore from Indian Bank for implementing smart card-based financial inclusion solution (FIS).

The deployment of the solution will help in extending banking services in un-banked/under-banked areas, enabling Indian Bank to reach to over 35 lakh customers over the next three years, TCS said in a statement.

The applications will hosted on cloud computing technologies, which will help provide infrastructure and application services in a cost-effective and efficient manner, it added.

“Indian Bank has been one of the early adopters of financial inclusion. Along with the strong domain expertise and technology capability of our strategic partners, TCS, our endeavour is to provide banking services for rural customers over 5,500 villages,” Indian Bank chairman and managing director TM Bhasin said.

On Thursday, TCS ended 0.68% down at Rs250 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.10% to 19,864.85 points. 

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