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CMS Info Systems to invest Rs 200 crore; set up 3,000 SBI ATMs by March

CMS Info Systems to invest Rs 200 crore; set up 3,000 SBI ATMs by March
The outsourced model or Brown Level ATM (BLA) is managed by the service provider on behalf of bank
PTI | January 6, 2021 | Updated 09:51 IST
CMS Info Systems will set up 3,000 ATMs by March for State Bank of India (SBI) as the country s largest lender looks to expand the outsourced model. The outsourced model or Brown Level ATM (BLA) is managed by the service provider on behalf of bank. Most of these ATMs are offsite ATMs.
CMS has received mandate from SBI for a deployment of 3,000 ATMs. As a part of the term sheet, CMS will select the site, deploy ATMs, provide cash management services, regular maintenance, and upkeep of ATMs, CMS Info Systems President Manjunath Rao told . With this, he said, total number of BLAs under CMS Info Systems would increase to 5,000. He said the company would invest Rs 200 crore for putting up new ATMs and hire 2,000 employees for managing these sites. ....

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CMS Info Systems plans to invest upto Rs 1,300 crore on ATM ramp-up

Baring Private Equity-backed CMS Info Systems (CMS), plans invest upto Rs 1,300 crore to scale up its managed ATM business and cash management business in India.
Rajiv Kaul, vice-chairman and wholetime director, CMS Info System, said that starting with a capital expenditure of Rs 180-200 crore, the company expects to create 2,000 jobs.
Out of them, 70 per cent of will be blue-collar job opportunities, and the balance 30 per cent white-collar ones.
The investment will be funded through internal accrual and debt. The span for investment would be over seven years, Kaul said.
For the time being, the firm does not envisage specific investment from its owner Baring for these plans, he added. Sion Investment Holdings, an affiliate of Baring Private Equity Asia, holds 100 per cent in the company. ....

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