CMS Info Systems Secures Landmark ATM Deal with SBI

CMS Info Systems has secured a Rs 1,000-crore contract with State Bank of India to manage 5,000 ATMs nationwide. Beginning January 1, this 10-year deal aims to enhance cash efficiency and ATM uptime for millions of customers. This marks the first large-scale PSU bank cash outsourcing in India.

CMS Info Systems has announced a significant achievement by securing a Rs 1,000-crore contract from the State Bank of India (SBI) to manage 5,000 of its automated teller machines (ATMs). The contract, which begins on January 1, is set to run for 10 years.

This agreement includes comprehensive managed services to improve cash efficiency and ensure higher ATM uptime, benefiting millions of SBI's banking customers across the nation. According to CMS, this is the first direct, large-scale cash outsourcing contract by a public sector bank covering machines nationwide.

Chief Business Officer Anush Raghavan emphasized that the contract will bring stability and enhance service quality for consumers, thereby delivering an incremental revenue growth of Rs 500 crore for CMS. Following the announcement, CMS Info Systems' stock saw a notable rise, trading at an increase of 4.13% on the BSE.