IT major Wipro has won a ten year IT outsourcing deal from public sector

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bank Punjab and Sind Bank (PSB).

The order is expected to generate upwards of Rs 100 crore in revenue for the company over 10 years, Anand Sankaran, senior vice president and business head, India and Middle East, Wipro told Financial Chronicle. PSB is aiming to become a Rs 100,000 crore bank by 2011 by increasing its branch networks and services. The partnership with Wipro is to enable centralised banking operations for PSB branches spread across the country. The bank will also be able to leverage technology to compete better and achieve operational excellence.

Sardar GS Vedi, CMD of Punjab and Sind Bank said, “The vision of the bank is to leverage technology to achieve business transformation. We are re-engineering our IT processes and applications to deliver superior quality of service and products to accelerate business growth and achieve operational excellence.’’