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The Banking Sector Reforms have ushered an era of changing regulatory environment, rapid technological advancements, heightened competition and consolidation for improved efficiency and productivity. Compulsions arising out of increasing competition are inducing banks to look at newer avenues to augment revenues, while trimming costs. This changing landscape in the banking industry is driving banks to explore the outsourcing option as a means of both reducing cost and accessing specialist expertise, not available internally and achieving strategic aims.
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Annual Report 2014-15..
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