Wipro Ltd, India's third-ranked IT services exporter, said on Wednesday it had won a 10-year contract from state-run Punjab and Sind Bank for outsourcing services.
Financial details of the deal were not disclosed. However, according to a few media reports the contract value is said to be upwards of Rs 100 crore.
Under the agreement, Wipro will be responsible for System Integration, provisioning and management of Finacle core banking solution and enterprise applications. This would include 24X7 management of the entire underlying IT infrastructure covering computing platforms and networking.
As part of the programme, Wipro will also undertake commissioning and management of the Data Centre and the Disaster Recovery centre, and Service and Support for the Bank.