Information technology service companies see revival in BFSI segment

The company had disclosed it was seeing strong growth in the digital, security and blockchain, analytics and data space segments

After years of tepid growth, the banking, financial services and insurance (BFSI) section of information technology (IT) service companies is showing signs of recovery. 

This comes on the back of higher IT spending by the investment banking and corporate finance segments, apart from the insurance sector. BFSI is almost 40 per cent of India’s IT export. With the low base effect, the expected growth this year will swell more. 

According to analysts, management commentaries from the top domestic IT firms have also indicated a rise in demand from the BSFI segment. Rajesh Gopinathan, chief executive officer at Tata Consultancy Services (TCS), had