Tata Consultancy Services (TCS) announced on November 26 that it has secured a three-year extension for its contract related to SPARSH (System for Pension Administration – Raksha), an initiative led by the Indian government aimed at improving pension distribution for more than 3 million defense pensioners. This move aligns with TCS’s strategy to broaden its operations in India and other emerging markets while grappling with demand fluctuations in primary regions such as North America.
Under this agreement, the IT services giant will oversee the hardware and software systems involved in the program and will also implement crucial updates.
TCS initiated the rollout of pension processes on SPARSH in October 2020. The digital transformation of SPARSH has drastically cut pension processing times from 12-18 months down to just 14 days.
Furthermore, initial pension payments are now completed within a timeframe of five to seven days. “A significant achievement for TCS has been its contribution to the One Rank One Pension (OROP) scheme, ensuring that defense personnel of the same rank and service duration receive equal pensions, regardless of their retirement date. TCS has slashed processing times from six to eight months to two weeks, enabling OROP disbursement to 1.8 million eligible pensioners in an impressive span of 15 days,” the company stated. The SPARSH initiative has centralized the pension disbursement process and abolished bank service fees, resulting in annual savings of approximately Rs 250 crore for the government.
Girish Ramachandran, president of growth markets and public services at TCS, remarked, “The SPARSH project showcases TCS’s dedication to utilizing technology for societal benefits, enhancing vital pension services for those who have served our country. By cutting processing times and employing efficient digital solutions, we ensure timely and transparent pension disbursement while establishing new standards in public service delivery.”
The SPARSH system represents a significant endeavor that involves digitizing millions of records dating back to 1914 and incorporating over 3 million defense pensioners from all branches of the Armed Forces. TCS has successfully onboarded 50 organizations and 2,302 offices while distributing more than Rs 2,82,067 crore in pensions, providing advantages to both pensioners and the government.
Tej Paul Bhatla, senior vice president and head of public services in India at TCS, stated, “This partnership underscores our sustained commitment to nation-building, and we take pride in continuing to support initiatives that promote the welfare of those who have defended our nation.”
In addition to the ongoing Rs 15,000-crore BSNL agreement, TCS has been collaborating with leading stock exchanges in India, facilitating RTGS and NEFT operations, streamlining the passport issuance process, and re-imagining various other initiatives for both central and state governments.
More informative. Thanks
Always welcome