IT Adoption in BFSI Sector in India

Key findings:

Ø  India's domestic IT spends is valued at USD 30.4 billion, out of which BFSI sector contributes to 11.1% share: the sector is fast growing in terms of IT investment

Ø  IT budgets as a percent of revenues for BFSI is estimated at 1.5%- 2%; regulatory compliance a key driver

Ø  IT spend in BFSI vertical is expected to reach USD 3.5 billion by FY 2014, growing at a CAGR of 13%