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Tata Consultancy Services (TCS) has signed a three-year contract extension for SPARSH, India’s pension system for defence personnel, the company announced on Tuesday. The digital platform has significantly transformed pension processing for over 30 lakh defence pensioners since its launch in October 2020.
The partnership has yielded substantial improvements in pension administration. Processing times have dramatically reduced from 12-18 months to just 14 days, with first-time pension payments now completed within 5-7 days. The system has also successfully implemented the One Rank One Pension (OROP) scheme, disbursing payments to 18 lakh eligible pensioners in just 15 days.
By centralising pension disbursement and eliminating bank service charges, the SPARSH system has saved the government approximately ₹250 crore annually. TCS has digitised millions of records dating back to 1914, onboarded 50 organisations and 2,302 offices, and disbursed over ₹2,82,067 crore in pensions.
The company continues to explore innovations, including potential digital solutions for handling overpayment refunds, demonstrating its commitment to enhancing public service delivery through technology.
The shares of Tata Consultancy Services Limited were trading at ₹4,326.80, up by ₹11.70 or 0.27 per cent on the NSE today at 11.55 am.
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