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G. Chandrashekhar

Mumbai, Aug. 23 Giesecke & Devrient GmbH, a German company specialising in providing international technology services, is set to expand its product range for currency processing systems in India by introducing coin handling systems.

Solutions of Swedish manufacturer Scan Coin intended for counting, checking, sorting and packaging coins will be marketed in the country by G&D, which proposes to provide customers in the banking sector obtain end-to-end solutions for their entire cash management needs, both banknotes and coins, from a single source.

The demand for coin handling systems in India is rated rather high.

The Reserve Bank of India issues around 5 billion (500 crore) new coins each year. Banks are currently undergoing an intensive modernisation process, which is increasingly extending to automated cash handling as well.

In addition to banks, G&D sees other potential customers that include enterprises that need to handle large numbers of coins such as retail businesses, public transportation authorities and electrical units.

One customer group typical of India is that of temple administrators, who must count and verify large numbers of coin donations, the company pointed out.

Operating through its wholly owned Indian subsidiary G&D India private Ltd, the German group has already deployed over 2,500 banknote processing systems.

In its Noida factory, the company produces and personalises SIM cards for mobile telephone communication and chip cards for electronic payments and for identification.

The company additionally operates an R&D facility in Pune to develop innovative chip card-based solutions.

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