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Indian mutual fund to launch kiosk line

February 26, 2002

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MUMBAI, India - Investors in one of India's largest mutual funds will soon have a new source for information on the fund. Unit Trust of India announced plans to deploy touchscreen kiosks in India's major financial centers by June of 2002.

From a location and information standpoint, the kiosks will be deployed in phases. The first kiosk will go up at the UTI Financial Center in Mumbai, with plans to deploy 20 to 22 kiosks by next June. Customers at first will be able to access information on UTI programs. Eventually, customer information and transaction capabilities will be integrated into the system.

NCR Corp. has been tabbed to supply, develop, and deploy the initial pilot program, according to India's Financial Express newspaper.

UTI's project is the second major kiosk deployment announced in India during October. Earlier in the month, government officials announced plans to expand a community access kiosk program at post offices in eight Indian states from 30 to nearly 500 (See story: India expanding community kiosk program). If successful, the program could go national.