Competitive Exams: Current Affairs 2011: IT-BPO Sector

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IT-BPO Sector Revenue to Rise 19 % to $ 76 Billion

  • The National Association of Software and Service Companies (Nasscom) recently said the Indian IT-BPO sector was estimated to grow 19 per cent in the current financial year to reach $ 76 billion in revenues.
  • Exports would continue to be the mainstay of the industry with estimated growth of 18.7 per cent to $ 59 billion revenue, while the domestic market is estimated to grow 16 per cent to aggregate ₹ 78,700 crore (about $ 17 billion) in 2010 − 11.
  • Direct employment is expected to reach nearly 25.40-lakh, an addition of 2.40-lakh employees in 2010 − 11.
  • In the next fiscal, the software and services growth is expected to grow at 16 − 18 per cent and aggregate revenues of $ 68 − 70 billion, while the domestic market is estimated to grow by 15 − 17 per cent with revenues of ₹ 90,000 − 92,000 crore ($ 19 − 20 billion) Summary of IT BPO sector: Revenue: $ 76 Billion Export: $ 59 Billion Domestic: $ 17 Billion Direct Employment: 25.4 Lakhs SBI plans merger of 5 associate banks State Bank of India (SBI) plans consolidation of remaining five associate banks with itself in the next 12 − 18 months. In the last two years, SBI merged two associates namely State Bank of Saurashtra and State Bank of Indore. State Bank of
  • Saurashtra amalgamation took place in August 2008 while State Bank of Indore merged with the parent last year. 5 associate Bank of SBI Bank Established Comment 1 State Bank of Mysore 1913 2 State Bank of Patiala 1917 3 State Bank of Hyderabad 1942 4 State Bank of Travancore 1945 5 State Bank of Bikaner and Jaipur 1963 State Bank of Indore 1920 merged with SBI in August 2010 smallest of SBI՚s six associate bank subsidiaries
  • State Bank of Saurashtra 1902 merged with SBI in 2008

Courtesy: The Hindu and Times of India