India's largest software exporter Tata Consultancy Services (TCS) said in a statement on Thursday it won a five-year $260 million contract for outsourcing work on ABN Amro's strategic banking platform.

Besides, Infosys Technologies bagged a five-year deal amounting to $140 million -- its single largest ever -- to handle a wide spectrum of applications for the Amsterdam-based bank offices in North America, Europe and Asia Pacific.

Infosys said while it had won a minimum commitment of $140 million it could bid up for outsourcing up to $250 million.

The landmark deals bagged by TCS and Infosys are part of a $2.2 billion outsourcing plan announced by ABN Amro. Global giant IBM was awarded the biggest slice of the deal to the tune of $1.8 billion elating to infrastructure component of the deal while two other Indian companies Patni Computers and Accenture have been roped in to bid for application development.

A statement by ABN Amro said the deal will result in a new technology structure within the firm and 1,500 full time employees will lose jobs. Of the total of 5,000 full time information technology employees of the Dutch bank working worldwide, nearly 2,000 will be transferred to the outsourcing firms, mainly to IBM, it added.