The IT services leader TCS, which has developed embedded banking software solution that will enable mobile phone users to perform banking transactions, has bagged a contract in China and is in the process of bidding for a banking solution project there. On the domestic front too, the company is gearing up to go to smaller towns. It proposes to open first such development centre in Nagpur. Confirming the development, S Ramadorai, CEO and managing director of TCS, told media persons on Saturday the company has developed an embedded software for mobile phone users to perform banking transactions.

"The solution is undergoing pilot trials in the southeast Asia region and will be commercially introduced as soon as regulatory norms are modified to facilitate mobile banking transactions powered by embedded software," he said. In line with its efforts to enter the Chinese market, TCS has recently won a contract and is also bidding for a Chinese bank project, Ramadorai hinted with out disclosing any names. Sources said the formal announcement of the deal is expected to be made at the opening of TCS Microsoft joint venture in China "The event is expected within the next two months," the sources said.

Elaborating on the company's plans on the home turf, he said the company, while expanding its operations in metros and mini metros, plans to start development centres in smaller towns. And the first such centre would be opened in Nagpur in Maharashtra. Ramadorai said. "We are looking at tapping IT talent in smaller towns in India and will set up development centres in places where there is availability of young graduates of a calibre the company needs," he said. Ramadorai indicated that TCS might open centres in other small towns like Kochi and Coimbatore. Besides, there will be expansion in the existing centres in Hyderabad, Bhuvaneshwar, Chandigarh and Gurgaon, among others. On the domestic business front, he said, about 10 per cent of TCS' revenue (Rs 990 crore) comes from projects in the country.