CMS wins ₹1,000 cr SBI deal

Shares of CMS Info Systems jumped as much as 2.5%, as the company won a ₹1,000 crore integrated cash solutions contract from State Bank of India.

The company offers logistics, technology solutions and services to banking and financial technology players.

The deets: the 10-year contract will manage about 5,000 SBI-owned ATMs across India and will start this month. The goal is to ensure ATMs have enough cash and work smoothly, so customers face fewer outages and delays. 

Worth noting: this is the first time a PSU bank has handed out a direct cash management deal of this scale, the company said. It’s also a clear sign that banks are shifting gears, preferring one end-to-end outsourcing partner over juggling a patchwork of multiple vendors.

The importance: the order is significant as it is expected to add around ₹500 crore in revenue and strengthen the company’s long-standing partnership with SBI. The long-term deal ensures stable ATM operations and reliable self-service banking for millions, even as digital payments grow and cash access remains essential.

ScanX.trade