Hughes India gets Rs. 200 Crore contracts for Ministry of Finance ATM project
Dec 13, 2012 (TELECOMWORLDWIRE via COMTEX) --
Hughes Communications India Ltd., a subsidiary of Hughes Network Systems, LLC said it has been contracted to connect 27,000 off-site ATMs with a secure broadband satellite network over the next two years and provide managed network services for various public sector banks.
The contracts have a total value of Rs. 200 Crore (approx 36 million) over an eight year period, and were awarded by eight managed service providers, namely, Accura Infotech, AGS Transact Technologies, EPS, FIS Global, Financial Software and Systems, MphasiS, NCR and Tata Communications Banking Infra Solutions.
The Hughes win is part of one of the largest outsourcing deals in the financial sector, under which the Ministry of Finance and a consortium of all the public sector banks of India have contracted with nine different MSPs to install and manage a total of 63,000 off-site and on-site ATMs across urban and rural India. The MSPs were chosen through a series of reverse auctions for 16 different circles, conducted by six lead banks, namely, State Bank of India, Bank of India, Punjab National Bank, Bank Of Baroda, Union Bank of India and Canara Bank. India currently has approximately 100,000 ATMs and this initiative is expected to increase the ATM density by over 60 percent, thus helping meet the goals of Financial Inclusion and delivery of e-government services to citizens directly.
Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes operates sales and support offices worldwide, and is a wholly owned subsidiary of EchoStar Corp. (NASDAQ: SATS), a premier global provider of satellite operations and digital TV solutions. For additional information about Hughes, visit www.hughes.com.
Comments on this story may be sent to firstname.lastname@example.org
[ Back To TMCnet.com's Homepage ]