[IMGCAP(1)]
State Bank of India, which operates one of that country's largest ATM networks, has awarded Diebold Inc. a contract for 1,750 ATMs, Diebold and the bank announced last week.
It is the second major order the Mumbai-based bank has placed with North Canton, Ohio-based Diebold in a little more than a year.
In March 2008, the bank ordered 2,740 machines from Diebold (ADN, 3/19/08). The new order, announced Aug. 26, calls for the ATM maker to provide the bank with the full-function Diebold 450 model.
In addition, Diebold sold the financial institution its newly launched, energy-efficient Diebold 422 cash dispenser it designed specifically for India's market.
Both ATM models feature Agilis XV91X software, a 15-inch touch screen with function keys, and headphone jacks and speakers to enable transactions for the visually impaired.
The contract also includes support services; Diebold currently manages more than 3,500 of the bank's ATMs. "We are actively partnering with [State Bank of India] in its expansion plans and in deploying ATMs at a rapid pace," Naresh Hosangady, managing director of Diebold India, the ATM maker's Mumbai-based subsidiary, said in a statement.
"This is a great win for Diebold," says Kate Monahan, an analyst for Aite Group LLC, a consulting firm based in Boston. Diebold's decision to develop a cash dispenser for India's market probably will lead to Diebold winning contracts with other Indian banks, Monahan says. State Bank of India operates some 12,000 to 15,000 ATMs. The bank plans to expand its ATM network to 25,000 by 2010, according to the Times of India. ATM
