Banking, Financial Services

Banking, Financial Services and Insurance (BFSI) is set to grow exponentially in India due to the rising per capita income, introduction of new products, innovation in technology, expanding distribution, networking and increasing customer awareness of financial products. BFSI Industry has seen bold reforms in the last 15 years and will continue to be a top priority focus industry for India’s economic development based on inclusive growth.

Opportunities and Challenges:

• BFSI industry is set to grow significantly in the coming years due to India’s economic expansion and growing awareness among the population of these financial products / services.
• New and wider products will provide immense opportunities to develop niche areas.
• The industry has adopted IT as an integral part of business strategy, where RSM is well positioned to provide various services on such IT platforms.
• High supervision by regulators will require constant vigilance and need to adopt measures to mitigate risks based on various control measures including ‘Risk Based Audits’ (RBA) as provided by