After Japan and film city, Yamuna authorities plan fintech hub in UP | Delhi News
After the Japanese city and the film city, the Yamuna Expressway Industrial Development Authority (YEIDA) has another plan in place to boost investments in Uttar Pradesh – a fintech hub.
Taking inspiration from the states of Gujarat, Maharashtra and Tamil Nadu, officials said they have set up Sector 9 as the proposed hub, a dedicated area where many institutions related to the financial sector will be headquartered. He said he is considering an area of about 350 acres.
YEIDA on Monday announced a tender to select a consultant to conduct a feasibility study and detailed project report (DPR) for the hub development. The last date for submission of bids is December 13th. A pre-bid meeting will be held on November 29th.
FinTech is a term widely used to refer to new innovations in the financial services sector, with an increasing reliance on information technology. Services such as blockchain, research, digital money, investment and crowdfunding, among others, will be offered at such hubs, officials said.
Dr. Arun Vir Singh, CEO of YEIDA, said: The new foreign direct investment policy of the Uttar Pradesh government will definitely help in implementing this plan on the ground. Companies can acquire subsidized land and receive other benefits. The hub will foster research, innovation and development of new-age skills and create new jobs. We provide startups with an innovative and compliant sandbox/prototyping ecosystem, mentorship programs, and a platform to partner with global players and governments. ”
well read
What happens to your body if you eat only fruit for 72 hours?
Tiger 3 box office collection on day 9: Salman Khan’s action film closes to Rs 400 crore worldwide, marking lowest ever single-day box office collection
He further said that as far as the development of the hub is concerned, the authorities have proposed four modes. “We are debating whether YEIDA can be the developer or go for a single external developer like Film City (which we were planning). Develop. Consultants are expected to provide the most viable path forward.”
Key stakeholders in this plan include financial institutions, regulators, technology partners, investors, academic/government bodies, incubators/accelerators, and market influencers. The hub houses his three categories of companies: international, domestic/regional and offshore financial centres.
Officials said the hub’s success factor was sustained demand, namely consumers’ digital readiness in terms of mobile and internet penetration. Access to capital. Regulatory openness, i.e. specific regulations and policies. and easy access to local and international markets.
(Tag translation) Japan and the movie city
