HCL Infosystems Bags Project From Punjab & Sind Bank

HCL Infosystems Ltd., the Hardware, Services and ICT System Integration company, has announced the awarding of an order from Punjab and Sind Bank (PSB) to provide smart card based solutions in over 1500 villages across the country. The partnership aims to facilitate the provision of smart card-based technology solutions for financial inclusion, besides engaging and managing business correspondents deployed in unbanked villages allotted to PSB.

HCL Infosystems will be providing end-to-end solutions for PSB's Financial Inclusion project involving supply of the Core Banking and enrollment software, DC and DR, customisation, installation, operation, maintenance of servers and networking; management and maintenance of hardware and software, delivery and support for banking and financial services to the Bank. Apart from technological solution and technical services, it will also involve integration of various technological and functional components, supporting business correspondents to educate, facilitate and deliver financial services to the targeted BPL beneficiaries.

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"Technology today has an intrinsic role to play in people’s life and it is encouraging to see banks like Punjab and Sind Bank enabling this change. HCL Infosystems has a legacy of partnering and implementing large nation building projects successfully over the years in the country and we are proud to be involved with the financial inclusion in the country to ensure banking for every citizen. We really appreciate PSB's vision to make technology accessible to every Indian citizen and we extend our full support to them," said Harsh Chitale, Chief Executive Officer, HCL Infosystems.

The project will enable UID based disbursement for various schemes of the Rural Development Department. PSB aims to cover over 6 Lakh customers over a period of three years.