The banking crisis in the US and Europe could take a toll on the Indian US$245 billion IT business process management (BPM) industry, which draws close to 41% of its revenues from the banking, financial services, and insurance (BFSI) sector, analysts said.
“Companies like TCS, Infosys, Wipro, and LTIMindtree have exposure through their banking vertical across North American regional banks. Over the short term, there will be an impact to BFSI growth due to this crisis,” said Peter Bendor-Samuel, CEO at Everest Group.
