“Currently technology spends as a % of opex is around 8-9%, this in our view, will double to 18-20% if management is going to significantly increase investments and is in line with some global peers,” said Suresh Ganapathy, associate director, Macquarie Capital. “Cost/Income ratio may go up from current 36% to 39-40%.”source https://economictimes.indiatimes.com/industry/banking/finance/banking/hdfc-bank-could-double-technology-spends-macquarie-capital/articleshow/85889722.cms
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