Dun & Bradstreet India takes pleasure in announcing the launch of the ninth edition of its premier publication – ‘ India’s Leading BFSI Companies ’. Through this publication, Dun & Bradstreet seeks to provide useful and comprehensive information about the leading companies from the BFSI (banking, financial services, and insurance) sector. Additionally, it also highlights the recent developments and key trends in the sector. The BFSI sector plays a critical role in driving the country’s economy by providing a diverse range of financial and allied services to the largely diversified demographic spectrum of the country. Its importance in the socio-economic landscape is underscored by the fact that this sector will require a skilled workforce of 1.6 million by the year 2022.
The recent demonetisation announcement has led to improved liquidity levels in the financial sector, especially in the banking industry. The increased liquidity, in turn, is expected reduce the cost of funds. Further, the impending reduction in cash transactions is also expected to result in a shift towards digital channels like digital wallets, debit and credit cards and User Payment Interface for financial transactions. Accordingly, we are currently witnessing a very dynamic environment in the BFSI sector in terms of innovation, high competition, consolidation, and increasing use of alternative multiple channels to name a few. In India, the market for the BFSI sector is still largely untapped. Digital technology, which has transformed the way business is conducted across the world, is expected to be one of the major drivers for the growth of this sector in India as well. A wide range of financial products are increasingly being sold and delivered using the electronic platform to millions of customer in India. Greater use of digital technology is helping the BFSI sector to lower the cost of transaction and bring higher efficiency and greater reach in the financial ecosystem. In the current scenario where the Government seeks to reduce the economy’s dependence on cash, the increased focus on tech-adoption promises to take the BFSI sector on a path of rapid growth. ‘ India’s Leading BFSI Companies 2017 ’ stands as a ready reckoner on the Indian BFSI sector. Dun & Bradstreet is extremely optimistic about the progress of this sector and reiterates its commitment to continue tracking it to facilitate making informed business decisions. I hope you will enjoy reading ‘ India’s Leading BFSI Companies 2017 ’ and look forward to your suggestions.
Preeta Misra Director - Learning & Economic Insights Group Dun & Bradstreet India
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