India's banking landscape is approaching a decisive inflection point, with earnings set to rebound sharply over FY27-28 after a period of subdued growth, noted a report by IIFL Capital.
According to IIFL report, these firms allocate only 1.2 per cent of their revenue to R&D, markedly lower than the global average of 3.4 per cent. This gap highlights a need for increased investment in innovation to keep pace with global standards.