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September 16, 2019

‘Vertical city’ for start-ups at Fintech Hub

‘Vertical city’ for start-ups at Fintech Hub

West Bengal Housing and Infrastructure Development Corporation (HIDCO) is coming up with a ‘vertical city’ in the Fintech Hub at New Town. The tall iconic tower will have space reserved for fintech start-ups.

According to a senior HIDCO official, this will create a perfect ecosystem with the other financial institutions as they come up gradually at the Fintech Hub.

Chief Minister Mamata Banerjee wants Bangla to play a leading role in the field in the future. Towards that end the Fintech Hub was inaugurated by her last year. So far, 25 financial institutions, both banking and non-banking, have taken up space in the Fintech Hub, including the State Bank Institute of Leadership, National Insurance Corporation, National Green Tribunal and Income Tax Appellate Tribunal.

According to a report by McKinsey Global Institute, Kolkata will be one of the three metros that will emerge as the epicentre of global financial activities by 2030, and so the State Government is leaving no stone unturned to project itself as one of the major players in the financial world.

Source: Millennium Post