Banking crises all over the world including America-Europe. Know what is the reason?
The banking crisis in America and Europe is increasing day by day which is pointing toward global recession.
Two famous banks in America have drowned and many other banks are struggling to save their existence.
The condition of the regional banks of America is bad, and that's why there is panic among their service providers.
The banking crisis is increasing in Europe as well. Credit Suisse, one of Europe's largest banks, is also on the verge of bankruptcy.
The future of India's $245 billion IT Business Process Management industry is at risk due to the Global Banking Crisis.
According to experts, 41% of the revenue of the IT industry comes from the banking, financial services, and insurance sector.
If the global banking crisis deepens, then the IT industry can be affected the most.
According to Celent data, in the year 2022, the IT budget of North American banks was $ 82 billion.
Banks in North America lead the way in investing in technology in the retail banking sector worldwide.
The current banking crisis started in the US. Within five days, two banks, Silicon Valley Bank and Signature Bank collapsed.