PCS Industries to manufacture Olivetti printers in India

PCS Industries Ltd, a part of the transnational PCS Group, has announced its tie-up for the manufacture of Olivetti’s Printer products at its ISO 9001 2000 certified assembly line at Silvassa. Initially, the PR2E Pass book printers, which are widely used in the banking segment, will be taken up for manufacture, followed by PR2 Scanners and other retail printer like PR4, cash registers and POS systems.

Banking and financial sector in India has witnessed a tremendous growth since last one year. Competition from private banks who have totally automated their banking operations is putting tremendous pressure on Nationalized and Co-op banks to improve their services and go for total automation. Of the 46,500 branches of nationalized banks, only 13,075 are fully computerized and 16,526 are partially computerized. (Source: IBA - data as of Sept2002). Hence, there is a wide gap between the two. Since banks want to achieve 100 percent computerization by December 2004, the scope for IT related products in the banking and financial segment is enormous.

To take advantage of this opportunity, PCS wants to increase its basket of products to the banking and financial segment.

After launching its total branch automation software, Passbook printer is an ideal choice. PCS will be announcing more such automation product for the banking and financial segments.

CyberMedia News Service