Finance Sector Rallying Behind GROWING ECONOMY
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The US financial market is the largest in the world. In 1947 the finance industry in the Unites States comprised only 10 per cent of the non-farm business profits. But by 2010 the finance industry attained a growth of 50 percent and the finance industry income as a proportion of GDP grew from 2.5 percent to 7.5 percent.
The corporate income proportion of finance industry rose from 10 percent to 20 percent. The finance and insurance represented about 7.2 percent of gross domestic product of US. So far this year, the US stock market has experienced some wild oscillations. The banking industry in the US are looking positive and are focusing on profitability.
Falling oil prices globally has given boost for Fed to raise their interest rates in near future, adding to this, the growing US economy is also contributing further and the dollar rates has been stabilized. These factors have kept inflation at check and there is a ray of hope in the market after a long hitch.
The tight monetary policies in the recent years may soon find some loosening as the policy makers are not that reluctant to make it more tight. The industry seems to be upbeat about the growing economy in the post-crisis years. In this issue, we present to you, “20 Most Powerful BFSI Tech Providers”, who have successfully adapted to the new criterion. The organization featured in this issue delivers unique and un-paralleled services to their customers. Read through and let us know what you think…