Looking to position Uttar Pradesh as a major financial services hub in Asia, the state government has invited bids for a 100-acre Fintech Park in Noida.
The request for proposal (RfP) document for feasibility study-cum-detailed project report (DPR) relating to Fintech Park has been floated by nodal agency Yamuna Expressway Industrial Development Authority (YEIDA).
According to YEIDA additional chief executive officer (CEO) Vipin Kumar Jain, the last date for the submission of bids is January 2, 2024.
The Fintech Park, to be developed in Sector 13, is aimed at boosting the growth of financial services companies across the entire financial and allied value chain.
The Park will be developed in the vicinity of under-construction Jewar International Airport, which is expected to witness the launch of its maiden flight in September 2024.
It will facilitate stock exchanges, stock brokers, crowd funding, angel funding, banking, insurance, digital money, digital economy, financial R&D, capital markets etc apart from providing peripheral facilities such as hospitality, commercial spaces, data centres, shopping arcades etc.
At present, there are about 240 fintech startups operational in the Noida-Greater Noida region in digital lending, payments, blockchain and digital wealth management domains.
Some of the better known firms include Pine Labs, Spice Money, Paytm Payments Bank, Advisorymandi, DIGISPICE, OneCode, Wishfin, GramCover, FanTiger, Marquee Equity, Easypolicy, Buddy4Study, Oye Loans, PayMe India, PortDesk, Nivesh.com etc.
“Due to the presence of world-class infrastructure, robust power supply, internet connectivity and superior manpower, the Noida-Greater Noida corridor has emerged as a favourite destination for startups and fintech companies,” a government spokesperson said.
Acknowledging the rising demand from fintech and investment domains, the Indian Institute of Management (IIM), Lucknow is looking to upgrade its training mix to equip students for the domestic and global financial and investment latitude.
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IIM Lucknow has joined the global association of investment professionals, CFA Institute’s University Affiliation Program (UAP). The partnership is aimed at developing competencies through ‘high-caliber’ management education to succeed in the investment industry.