Initially the PR2E passbook printers, which are widely used in the banking segment, will be taken up for manufacture, followed by PR2 scanners and other retail printers like PR4, Cash registers and POS systems.

The banking and financial sector in India has witnessed a tremendous growth since last one year. Competition from private banks, which have totally automated their banking operations, is putting tremendous pressure on nationalised and cooperative banks to improve their services and to go for total automation.

Of the 46,500 branches of nationalised banks, only 13,075 are fully computerised and 16,526 are partially computerised. Hence there is a wide gap between the two. Since banks want to achieve 100-per cent computerisation by December 2004, the scope for IT-related products in the banking and financial segment is enormous.

Since PCS is the most preferred vendor to the banks for their computerisation plan, PCS wants to increase its basket of products to the banking and financial segment. After launching its total branch automation software, the passbook printer is an ideal choice. PCS will be announcing more such automation product for the banking and financial segment.