Mumbai: Tata Consultancy Services (TCS) said that it has developed a new system for National Securities Depository Ltd (NSDL) that will enable the latter to maintain pension records.
“In partnership with NSDL, we have built a pension record system in just six months that is capable of scaling up to meet the needs of this fast-growing economy,” TCS CEO and Managing Director S Ramadorai said.
In a filing to the Bombay Stock Exchange (BSE), the company said the new system would be the central record keeping agency for the government of India’s New Pension System.
The benchmark for the new pensions record system are high. It 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 solution, the filing added.
Shares of the TCS were trading at Rs811, up 2.29% on the BSE in afternoon trade.