India’s largest bank, State Bank of India has placed its second order with North Canton, Ohio-based Diebold, Inc. The manufacturer of automatic teller machines is selling the bank 1,700 ATMs, including 1,000 cash dispensers, 600 full-function lobby machines and 60 cash recyclers, Diebold officials said.
The D450s and D422s model ATMs, were specifically designed for the country’s market by Diebold India. 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.
With the new ATMs, State Bank of India’s ATM network will exceed more than 28,000 machines. Much of this expansion is happening in second tier cities and rural locations. Hundreds of millions of Indians still don’t have a bank account.
What this means
First, that American products continue to be attractive in India’s market. Second that there is a lot headroom left in India’s banking business. ICICI Bank and others continue to expand as well.
