Private sector lender, Ratnakar Bank has inked a deal with AGS Transact Technologies following which the company will provide 250 ATMs to the bank under the outsourcing model.

AGS currently provides technology based services to banking, retail, petroleum and postal sectors. It will look into implementation as well as management of the ATMs for the bank, said a release.

"The ATM deployment is a part of our plan towards aggressive expansion in the country. We have been looking for a strategic partner to help us with this objective.

AGS' expertise in ATM management will help us in gaining a strong foothold and increasing our network," Ratnakar Bank Head (Direct Banking Channels) Ritesh Pai said.

"We have been servicing 10,000-plus ATMs through our state-of-art 24X7 command center that gives confidence to our customers. With this, we believe we can add great value to the bank's initiatives," AGS Transact Technologies President and CEO Sunil Udupa said.