Unlisted Tata Consultancy Services (TCS), India's largest software service company, has bagged a Rs 1 billion contract from State Bank of India to upgrade the bank's information technology systems over two years.
TCS is expected to announce that it has landed the contract, its second big contract in a month on Friday, according to an Indian banking industry source.

At a press conference called for 4:00 pm IST in Mumbai, TCS is likely to announce it's signing a nearly Rs 1 billion deal with SBI.

A SBI source said that TCS would provide core banking solutions to its 3,000 computerised branches. Of SBI's 9,000 branches across India, only a third are now computerised and just 800 are linked.
TCS declined to comment. Bureau Report