CMS Info Systems bags Rs 1,000 crore contract from State Bank of India; shares jump over 6%

CMS Info Systems has received an Rs 1,000 crore contract from the State Bank of India. In an exchange filing, the logistics and technology service provider said that it has signed a cash outsourcing contract for a period of 10 years covering about 5,000 ATMs of the largest banker of the country.

CMS Info Systems stated that the project will encompass managed services, enhance cash efficiency, and deliver higher ATM uptime, benefiting millions of bank customers. The contract period starts from this month.