Rakesh Wadhwa:

Will we see more consolidation in the BFSI industry? Because market leaders who have access to capital and cash will be able to augment their digital transformation journeys. And would that mean that the smaller players have a little or no chance but to exit?


Alpesh Shah:

So is it directionally do we expect to see more consolidation? The answer is certainly yes. Typically in a moment of crisis the gap between the better performers and the weaker performers is wider. 40% were turning out to be really strong winners and 44% were actually losing out. So clearly as their finances began to hurt there will be the need for consolidation just from an economic perspective. So yes I would say that there will be more MNA and more consolidation at a time like this. So absolutely. Yes.

That being said I don't think it's only about scale. It is also about performance. So you will you have midsize companies which continue to outperform and do well. The answer is also yes. And the reason for that is in the past all the technology investments used to be very bulky and very sort of enlarged steps. Now actually technology investments have become more bite sized. There are actually smaller steps. And hence there is the opportunity for even midsize companies to not only survive but also thrive. So I would say yes a lot more consolidation but not only the big eating up the small, but I would say the stronger and the better performers competing with the not s good performers.