The revenue pool in Indian financial services (banks, NBFCs, insurance and AMC) has grown to an estimated Rs 8.2 trillion in FY2014 a CAGR of 16% from Rs 1.8 trillion in FY2004.
'In the last five years, revenue growth has slowed as a result of weaker economic growth. However, we expect a rebound over the next five years,' said Morgan Stanley Research.
'We expect financial savings to increase to 116% of GDP in the next five years. This would result in 16.5% CAGR in sector revenues to USD 300 billion by F2019 and 20% CAGR in reported profits to USD 50 billion in five years,' Morgan Stanley added.
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