Even before the decision on which of the 26 applicants will get Banking license, Infosys, TCS and Oracle are vieing with each other for supply of Core Banking software to the new Banks.
It is estimated that each Bank will spend about 25-50 crores in initial networking costs and subsequently spend about 5 to 6% of the annual revenue in maintenance. It is therefore a huge business for the IT Companies.
Refer Article in HIndu Business Line for more
Naavi
