THE CHENNAI OUTLOOK

Page 7 THE CHENNAI OUTLOOK December 12 - 21, 2012
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To Be Continued
POWER YOUR BUSINESS WITH
SBI POS TERMINALS
based income, country’s
largest lender State Bank
of India is planning to
place about 1.50 lakh point
of sale (POS) terminals
for debit and credit card
payments across the country
in the next fiscal. This
was informed by Mr R Vijayaraghavan,
Deputy General
Manager, State Bank of
India at the SBI Merchant
Meet held recently.
Mr Vijayaraghavan said
that the present EOI (expressions
of interest) is
for the purchase of around
1.35-1.50 lacs POS terminals
across the country during
the first year of operations
or 2010-11 and also
The east coast railway
line from Chennai to Puducherry
and Cuddalore,
via Mamallapuram, may
now be built with private
participation. The railway
ministry has included the
523 crore project on a list
of 37 projects that could
be handed over to private
firms.
The project part of the
proposed Chennai-Kanyakumari
coastal line has
been approved by the railway
board to provide a
link to fast developing areas
along the Old Mahabalipuram
Road (OMR).
The 179km line, to be laid
between OMR and the East
Coast Road, is expected
to connect Sholinganal-
for the managed services
during the warranty period
or the first year of deployment
in its Request For
Proposal (RFP). The last
date for submission of bids
is January 25. SBI plans to
deploy six lakh POS terminals
in the first five years of
its operations, he said.
The merchant acquiring
business would be carried
out through a whollyowned
subsidiary, which
would include acquiring
bank identification
numbers (BINs) from the
schemes, as well managing
services for PoS terminals
among others.
The managed services
would include deployment
lur, Kovalam , Tiruporur,
Mamallapuram, Kalpakkam,
Koovathur, Cheyyur,
Marakkanam, Kunimedu,
Kuiyilappalayam , Jipmer
in Puducherry, Bahour ,
Varakalpattu, Tirupadipuliyur
and Cuddalore Fort.
“As of now, railways is
doing the project but may
want to consider different
options because of the
huge cost involved and the
need to finish it fast,” said
a senior Southern Railway
official.
The new line is to be
taken up as a “socially
of PoS terminals at customer
location, their replacement,
merchant training
and maintenance among
others. SBI has introduced
Cash Back Scheme for
both merchant and customers
for using SBI debit card
on SBI PoS terminal.
Merchants from major
commercial establishments
participated in large numbers
and aired their grievances.
Mr P V Rajamani,
Assistant General Manager,
Merchant and Banking
Division was present on
the occasion. More details
can be had from their nearest
branch of State bank of
India.
EAST COAST RAILWAY LINE TO
CONNECT PUDUCHERRY AND
CHENNAI VIA OMR
desirable” project and the
railway has not mentioned
any rate of return for the
investor. The railway line
was sanctioned in the
supplementary budget of
2007, but only 26 crore
was sanctioned in subsequent
years for land survey
, location survey and
other preliminary works
. Meanwhile, the cost escalated
from 523 crore to
800 crore . The final location
survey was done in
2011. “Going by the rate
at which the ministry is
able to sanction funds the
line will take more than 10
years to complete.
This is the reason the
railway board is looking
at different options, including
privatisation of
the works. The board is
yet to finalise the model in
which the project will be
taken up,” he added. To
execute such projects, a
cost sharing-freight rebate
model, full contribution
model, under-a-specialpurpose
vehicle model
and private line model
have been proposed. The
terms and conditions say
the land will be acquired
and owned by railways.
The ministry has mooted
private participation for
new lines, gauge conversion,
doubling and to lay
third line because several
projects are being delayed
due to slow sanctioning of
money. Every project may
not get full funds because
money will have to be allocated
for all projects
being carried out in the
country.
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