India’s largest bank, the State Bank of India, deployed OKI’s 600 sets of cash recycling ATMs, the ATM-Recycler G7.
That was OKI’s second large-project deployment of its cash recycling ATMs for SBI in India.
SBI decided to procure OKI’s cash recycling ATMs in 2015 and deploy them in four of its designated regions across India.
OKI has been serving the Indian market since 2013 and its ATMs are deployed for other government-owned banks, private and co-operative banks as well.
“India is an important market for OKI and completing this project with SBI within expected timelines is a significant achievement for us,” says Rupinder Sandhu Anand, CEO of OKI India Private Limited, an ATM sales company in India.
“OKI plans to build on this program experience and participate in bids for larger opportunities with SBI and other banks.”
OKI’s ATM-Recycler G7 can handle Rs.50, Rs.100, Rs.500 and Rs.1000 denominations and uses the deposited banknotes for withdrawals, leveraging its cash-recycling function to reduce banknote management and operational costs compared to cash dispensers and non-cash-recycling ATMs.