You are here: Home » News-IANS » Business-Economy
Business Standard

Hitachi venture to make ATMs in India

IANS  |  Bengaluru 

Japanese multinational Hitachi on Thursday announced it was setting up a Rs.100 crore manufacturing facility here to make ATMs for the Indian market.

"The facility will have an installed capacity to roll out 1,500 ATMs a month from this year-end," Hitachi Terminal Solutions India said in a statement here.

Hitachi Terminal Solutions is the Indian venture of Hitachi-Omron Terminal Solutions of the parent company's conglomerate.

"Aimed at strengthening ATM business in the sub-continent, the subsidiary will strive to meet the Indian market needs through cost competitiveness, faster production cycle and delivery to expand the business of cash recycling ATM," it said

Cash recycling ATMs recycle deposited cash in the ATMs and enable it to be dispensed in future transactions.

"Hitachi-Omron Terminal Solutions entered the cash recycling ATM market in India at an early stage and has been providing ATMs that are suited to India's environment," the statement quoted Hitachi-Omron Terminal Solutions president Tetsuji Shimojo as saying.

The company deployed more than 5,000 machines in 2015 and aims to support India's India's financial infrastructure construction.

The new venture will create jobs and contribute to the economic development of India as it is aligned to aMake in India' programme, the statement added.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, March 17 2016. 20:36 IST