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PRESS RELEASE
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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.
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.
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