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Diebold signs major ATM contract with Indian bank

The ATMs have low power consumption, using approximately 40 percent less electricity than conventional processors, said Diebold officials.

May 15, 2011

Diebold Inc. has signed its second ATM deployment contract since 2009 with State Bank of India, the country's largest bank based on assets.

The North Canton, Ohio-based ATM manufacturer is selling the bank 1,700 ATMs, including 1,000 cash dispensers, 600 full-function lobby machines and 60 cash recyclers, Diebold officials said.

State Bank of India, which is based in Mumbai, is purchasing the D450s and D422s model ATMs, which were specifically designed for the country's market by Diebold India, a company spokesperson said. The D422 is a cash dispenser and the 450 is a full-service ATM. The 450 has an optional biometric reader should bank officials decided to use it.

The ATMs have low power consumption, using approximately 40 percent less electricity than conventional processors, said Diebold officials.

"As the self-service market evolves, automated self-service deposit functions continue to gain popularity," said Naresh Hosangady, vice president and managing director of Diebold South Asia. "The State Bank Group has decided to adopt deposit automation to enhance the self-service technology on ATMs, and we look forward to delivering our solution and further developing our relationship with SBG."

The deal, which was announced on Sunday in India, is the second State Bank of India has awarded in two years to Diebold India, which is based in Mumbai. In 2009, the bank awarded Diebold a contract to deploy 2,740 full-function model D450 ATMs. Diebold also manages services for portions of State Bank of India's ATM network.

With the new ATMs, State Bank of India's ATM network will exceed more than 28,000 machines. Diebold, which operates in 90 countries, is the world's third-largest ATM manufacturer based on annual shipments.

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