But its investments and cost-savings had an impact on firms that provide technology services. Spends are still happening, but there is more caution,” a senior executive with a large Indian IT services company said. He added that European banks were more cautious than US lenders.Indian analysts see the need to view technology spending by financial services firms with caution. Technology spends depend on budgetary decisions, which in turn depend on outlook of the revenue environment. In this regard, we expect technology spends of BFS firms to be volatile in the near term,” Kawaljeet Saluja, an analyst with Kotak Institutional Equities, said in a note.

Source: Economic Times June 11, 2019 02:24 UTC