The foundation stone for setting up the fintech city and a fintech tower, expected to generate 90,000 jobs in the state, was laid by the Chief Minister, M. K. Stalin, on Saturday at an outlay of Rs 370 crore
The proposed financial technology tower of fintech city, which is being set up in Chennai in its first phase, is expected to bring Rs. 1,000 crore in investments, said T. R. B. Rajaa, Industries Minister of Tamil Nadu.
The foundation stone for setting up the fintech city and a fintech tower, expected to generate 90,000 jobs in the state, was laid by the Chief Minister, M. K. Stalin, on Saturday at an outlay of Rs 370 crore.
Expected to generate 7,000 new jobs in the state in the initial phase, the Financial Technology Tower will come up in Nandambakkam in the city, Rajaa said.
“As the first phase of development of TN FinTech City, the Fintech Tower in Nandambakkam, Chennai, will attract over Rs 1,000 crore in investments, generate 7,000 employment opportunities for Tamil Nadu, and make the state an unparalleled hub in the financial technology sector,” Rajaa said in a social media post.
“It will shine as the central node for fintech companies in TN. Today, we have not just laid the foundation stone for a fintech city and tower, but once again ensured inclusive growth by democratising access to financial services,” he said.
The launch of the fintech tower sets the stage for a state-of-the-art facility that will propel the growth of the industry in the financial technology segment to new heights, said the state government-backed nodal agency Guidance Bureau.
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