India's leading BFSI companies 2008

The publication is an attempt to highlight the key achievements and challenges in the banking and financial services sector in the country, and is a valuable ready reference tool on Indias leading BFSI companies. The Indian economy is on a high growth trajectory, having recorded an average growth rate of over 9, per annum over the past three years. The surge in the real economy has undeniably provided significant growth opportunities for the BFSI sector. During FY08, the services sector notably maintained its double-digit growth of 10.8, , against 11.1, in the previous year. For the same period, its contribution towards GDP rose to 55.6, from 54.7, with financial services playing a significant role in its growth. India, with a population of more than a billion and rising per capita income, provides an enormous opportunity for the BFSI companies to expand by introducing of new products, leveraging technology, deploying innovative strategies and ramping up distribution network. Increasing consumer awareness about various investment options have enlarged the potential of this sector for catering to the various stratas of the society. Deregulation has induced the banking sector in particular to explore new business avenues. A strong regulatory and compliance framework in creating an investment friendly environment is showing positive signs for the sector too. The changing market dynamics coupled with consolidation and globalisation will be crucial in determining the progress of this sector in the next few years. Leading players will be redefining their strategies and goals to match up to international competition and it is expected that their role will be magnified manifold in leading the countrys economic development. (Source: http://www.dnb.co.in/BFSI/default.asp)