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Mr Y. Radhakrishnan, Managing Director, State Bank of India, with Mr S. Ramadorai, CEO, Tata Consultancy Services, at a press conference in Mumbai on Friday.

MUMBAI, May 17

TATA Consultancy Services has won the award for supply, customisation and implementation of State Bank of India's centralised core banking system.

The negotiations for what could be arguably the largest banking software project in country took around 18 months, said TCS officials. Almost every prominent software services major had been in the race for the project.

TCS described it as one of the largest projects of its kind in the world, but refused details on revenues that could be generated from this project.

TCS has teamed up with Financial Network Services of Australia for the latter's core banking system called B@NCS-24; and with Hewlett Packard for the latter's `ALWAYS ON Internet Infrastructure' solution consisting of Superdome servers and XP Storage systems.

The entire project and system integration would be managed by TCS, including rollout of software at SBI branches, training and support. The core banking system would be implemented throughout the SBI group, which includes more than 13,000 branches including that of its seven associate banks.

``The system would be rolled out in over 3,000 branches of SBI and its seven associate banks over the next two or three years,'' said Mr Y. Radhakrishnan, Managing Director, State Bank of India.

An investment of Rs 500 crore would be made during this period, for the seven technology-related projects that are in the pipeline at SBI that include, apart from core banking, asset management system, treasury management, network integration, ATM system and Internet system.

Mr S Ramadorai, CEO, TCS, said his company's exposure to international banking practices and system integration capabilities as well as programme management of large projects would stand it in good stead during the implementation of this ``revolutionary project''.

In the first year of the project implementation, 1,500 bank branches and 3,000 ATMs would be connected up. In the first 120 days of the project, all the foreign offices of SBI would be networked and the core banking system put in place. The pilot implementation would commence within a year, said TCS officials.

The entire project would be in place in 30 months to 34 months' time, said Mr Radhakrishnan.

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