Released on = June 8, 2006, 12:25 am

Press Release Author = Shushmul Maheshwari

Industry = Financial

Press Release Summary =
RNCOS Research: (http://www.rncos.com/Report/FM005.htm) Benefits such as cost saving
and competency, pull the banking sector in India towards outsourcing most of the
critical services.

Press Release Body = RNCOS Research:(http://www.rncos.com/Report/FM005.htm) Just
like any other industry, banking sector in India too has been influenced by the
latest buzzword in business known as "outsourcing". Although, due to banks handling
critical financial services, outsourcing is not as uncomplicated and simple option
for banks as it is for various other businesses. However, for the sake of
rationalizing operational costs and tapping professional expertise, outsourcing is
being adopted by banks at an increasingly faster rate.

A good instance of acclimatization of outsourcing by Indian public sector banks is
the recent contract, worth 110 crore Indian rupees, awarded by the Vijaya Bank and
Bank of Maharashtra to Financial Software & Systems Pvt Ltd- the electronic payment
system solutions and services provider.

Services outsourced by banks in India typically include IT & ITES activities such as
hardware & software maintenance, hosting; management of data centers, maintenance of
websites, and management & maintenance of links at the ATMs et cetera.

The latest market research report named, "Indian Banking Sector Analysis
(2006-2007)", published by RNCOS takes a look at every side of the banking sector in
India. Present and future scope of outsourcing has been covered in this report. As
per the report, "Cost saving is the main driving force behind the surge in
outsourcing activities, as it helps reduce up to 35% of overheads".

"Instead of safeguarding the money, the competence of a bank lays in the deployment
of it in such a manner that it gets multiplied with time. That's why, most of the
banks outsource the financial services such as applications and document processing,
investment management, marketing and research and back office related activities",
suggested the experts at RNCOS.

The information included in the report helps the client in the analysis of
opportunities that are critical to the success of the Indian banking industry.
Profiles of key players in this sector are also listed in it. A complete overview of
the banking sector in India is covered in this report. Besides analyzing the current
scenario the report also looks in to the future of the banking industry in India.
The report includes forecasts till the year 2010.

About RNCOS:
RNCOS, incorporated in 2002, provides Market Research Reports for your business
needs and aims to put an end to your information pursuit. Our expertise in gathering
global business information for industry research, corporate training, growth
consulting, and business consulting, brings reputed companies and firms to us for
business enhancement solutions. We can be your one-stop-shop for Industry research
information and niche market analysis.

To purchase your copy: http://www.rncos.com/Report/FM005.htm
For more information about the report please visit www.rncos.com


Web Site = http://www.rncos.com

Contact Details = Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial area, Delhi 92
91-11-4214-1229
info@rncos.com