HCL Info bags order from Punjab and Sind Bank

HCL Infosystems has bagged an order from Punjab and Sind Bank (PSB) to provide smartcard-based solutions in over 1,500 villages across the country. The company did not divulge the value of the deal. HCL Infosystems will be providing solutions for the banks' financial inclusion project involving supply of the core banking and enrolment software, customisation, installation, operation, maintenance of servers and networking, management and maintenance of hardware and software, and delivery and support for banking & financial services, to the Bank, an HCL statement said.

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, it added. The project will enable UID-based disbursement for various schemes of the Rural Development Department.