Small town big money

Chief executives of banks often ask Gunnebo India managing director Sandeep Deshpande why they need closed-circuit TV cameras when there are armed guards on their premises. Deshpande, whose company makes fire safes (Chubbsafes and Steelage), CCTV cameras, and other security gadgets, says: “In many cases, the guards’ rifles were made in 1947.” Gunnebo is looking to cash in on banking expansion in non-metro cities. The company, whose turnover in the last fiscal was Rs 350 crore, hopes 40% of its FY14 revenue will come from non-metro Indian cities.