TCS partners with NSDL to build scalable repository for pension records in India
Mumbai, August 29, 2008: Reiterating its commitment to mission critical projects in the Indian market, Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), a leading global IT services, business solutions and outsourcing firm, announced that it had helped design and build a new scalable system for National Securities Depository Ltd. This new system will be the Central Recordkeeping Agency for the Government of India’s New Pension System (NPS).
As a long-term technology partner of NSDL, TCS has undertaken the entire responsibility of the project as an end-to-end systems integrator, from conceptualization of the solution to the development, implementation, deployment and administration of hardware and system software. TCS will also continue to support and maintain the Central Record Keeping System as well as provide enhancements and ensure scalability as the number of records increases.
“We have always exhibited a sustained commitment to mission-critical projects in the Indian market and the new centralized pensions records system is another example of how TCS has helped create world-class financial services infrastructure in India from stock and commodity exchanges to banks and depositories,” said Mr. S. Ramadorai, ‘In partnership with NSDL, we have built a state-of-the-art pension records system in just six months which is capable of scaling up to meet the needs of this fast-growing economy.”
“Since NSDL was established, TCS has been our technology partner as they can build and deploy world-class solutions within defined time limits. The new central records system for pensions is technologically advanced and will be able to meet the needs of the users optimally,” said Mr. Gagan Rai, CEO of National Securities Depository Limited.
The benchmarks for the new pensions record keeping system are high. The system has been built to ensure high availability with disaster recovery. Security has been given primary importance in the system with role based access controls and public-key infrastructure-based solutions.
The system has also been built to ensure scalability as the volumes increase without change of system design or architecture. It can book large number of records with a high response time. It is also interoperable between platforms.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 116,000 of the world's best trained IT consultants in 50 countries. The company generated consolidated revenues of US $5.7 billion for fiscal year ended 31 March 2008 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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