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Our Bureau

Coimbatore , Jan. 26

Oracle India Private Ltd has won over 400 new deals in the Indian financial services space in 2005.

In a statement, the company has said between June 2004 and May 2005, it had signed deals with some renowned institutions such as Andhra Bank, Bank of India, Canara Bank, Central Bank of India, DSP Merrill Lynch, HDFC Bank, Indian Bank, ICICI Bank, IDBI Ltd, Karnataka Bank, Punjab National Bank, UTI Bank and Yes Bank for integrating and automating their business systems.

A Gartner report has estimated the financial services industry (FSI) spend (on IT services) at over $125 billion and it is said to be growing by $6-10 billion every year.

In the Asia-Pacific region, Oracle has witnessed a 254-per cent growth in the FSI in 2004-05.

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