| The contract entails the manufacturing and marketing of pass book printers, specifically designed for the banking sector. |
| The alliance will it into a direct conflict Spicenet - the erstwhile Modi Olivetti "" that also has a similar alliance with Olivetti. |
| Sources said that Olivetti is eyeing a larger pie of the growing Indian market, which was not being serviced by Spicenet's annual production of around 5,000 printers. |
| In the current year, the demand for pass book printers is expected to be around 15,000-16,000 units. |
| C R Ramakrishnan, general manager, special projects at PCS, said, "The demand for automation in the banking and financial sector is increasing leading to a tremendous growth in the market for pass book printers." |
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