Sify powers 650 branches of India Post Payments Bank (IPPB) as Network Integrator & Network Service Provider of DoP (Departme...
September 01 2018 - 9:42AM
Sify Technologies Limited (NASDAQ: SIFY), headquatered at Chennai,
India, India’s ICT Solutions and Services leader, is proud to
record a momentous occasion when 650 branches of India Post
Payments Bank (IPPB) and 3250 access points were dedicated to the
nation by the Honorable Prime Minister Shri Narendra Modi in a
ceremony held today in New Delhi. Sify is the Network Integrator
and Network Service Provider that enabled this ambitious pan-India
project.As part of the INR 1877.20 Cr (USD 270 Mil) DoP
modernization/IT automation drive, Sify was mandated to build and
connect endpoints, spanning both sorting and administration
offices. This resulted in Sify building the largest integrated MPLS
(Multiprotocol Label Switching) network in India for the postal
services. The total scale of the project in Phase 1 involved
connecting 28,000+ urban & Semi urban post offices.Resting on
Sify’s MPLS network backbone, IPPB will go now live with 650
branches, 3250 access points co-located at post offices and around
11,000 gramin dak sevaks and postmen providing doorstep banking
services. IPPB is starting operations with 17 crore accounts and
gradually 1.55 lakh access points in the country will be enabled to
offer banking services.Speaking on the occasion, Kamal Nath, CEO,
Sify Technologies, said, “A proud moment for us and a coming-of-age
project for Sify that firmly established us as India’s most
comprehensive ICT Solutions and Services player. This was not just
about bringing banking to millions of under-banked Indians. It was
about giving them the same opportunity as everybody else; a crucial
enabler of the Prime Minister’s vision for Digital India. We are
immensely proud that, as a pioneer of Network and Data connectivity
in India, we played a crucial role in this financial inclusion
revolution.”About Sify TechnologiesSify is the largest ICT service
provider, systems integrator, and all-in-one network solutions
company on the Indian subcontinent. We have also expanded to the
United States, with headquarters in the heart of California’s
Silicon Valley.Over 8500 businesses have become Sify customers. We
also partner with other major network operators to deliver global
network solutions. Our customers can access Sify services via
India’s largest MPLS network. Among the very few Enterprise class
players in India, Sify, today has presence in more than 1600 cities
in India and in North America, the United Kingdom and
Singapore. Sify, www.sify.com, Sify Technologies and
www.sifytechnologies.com are registered trademarks of Sify
Technologies Limited.Forward Looking StatementsThis press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The
forward-looking statements contained herein are subject to risks
and uncertainties that could cause actual results to differ
materially from those reflected in the forward-looking statements.
Sify undertakes no duty to update any forward-looking
statements. For a discussion of the risks associated with
Sify’s business, please see the discussion under the caption “Risk
Factors” in the company’s Annual Report on Form 20-F for the year
ended March 31, 2018, which has been filed with the United States
Securities and Exchange Commission and is available by accessing
the database maintained by the SEC at www.sec.gov, and Sify’s other
reports filed with the SEC.
Praveen Krishna
Sify Technologies Limited
+91 9840926523
praveen.krishna@sifycorp.com
Nikhila Kesavan
20:20 Media
+91 9840124036
nikhila.kesavan@2020msl.com
Shiwei Yin
Grayling Investor Relations
+1-646-284-9474
Shiwei.Yin@grayling.com
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