Social:FinTech Hub, Kolkata
| File:Under construction Fintech hub Newtown skyline.jpg Under construction Fintech hub skyline in 2023 | |
| Former names | International Financial Hub |
|---|---|
| Location | New Town CBD, Kolkata (Greater), India |
| Public transit | Kolkata Metro Orange Line |
| Owner | Government of West Bengal |
| Operator | HIDCO |
| Type | Financial technology |
| Acreage | 70 Acres[1] |
| Construction | |
| Opened | 13 October 2010[1] |
| Renovated | 2017[2] |
| Website | |
| bengalfintechhub | |
FinTech Hub is a business district and commercial, financial and legal centre in New Town, Kolkata (Greater), West Bengal, India . Situated in the New Town CBD area, the hub is a cluster of banking, financial and legal institutions and intends to develop financial technology. Many banking and financial companies have their headquarters, offices and training centres operational or under construction.
History
International Financial Hub
In 2010, inspired by the Bandra Kurla Complex and to turn Kolkata into an international financial centre, the then chief minister of West Bengal Buddhadeb Bhattacharjee and finance minister Asim Dasgupta proposed International Financial Hub on 100 Acres of land in New Town. The union finance minister of that time, Pranab Mukherjee laid the foundation stone of the project on 13 October 2010. The project had deadline to be completed in five years. State Bank of India, UCO Bank, erstwhile United Bank of India and UTI Mutual Fund stated to invest and agreed to build their offices in the hub.[1]
In 2011, the new chief minister of West Bengal Mamata Banerjee restarted the project and laid the foundation stone again on 10 March 2012. While the previous Government accorded the project to a private company, this time the project was given to HIDCO.[1] Up to 2014, it was not such functional as expected. 35.76 Acres were in use and out of 23 plots, 11 plots were booked. Banks and financial institutions like the NIC, State Bank of India, UCO Bank, erstwhile United Bank of India, Union Bank, Bank of Baroda, Allahabad Bank, Corporation Bank, Sriram Credit and West Bengal Financial Corporation and the HIDCO had their offices.[3]
2017 relaunch as FinTech hub
In 2017, the project was relaunched as FinTech hub. The purpose was to develope financial technology industry in West Bengal. In 2020, 23 financial institutions had their offices setup in the hub.[2] First 10 Acres were identified[4] which was afterwards expanded. On 10 September 2021, HIDCO released an online portal for owing plots easily.[5][6] Up to September 2021, 48 acres was allotted in 70 Acres.[1] As of 2022, 28 financial and legal institutions has set-up their offices in fintech hub.[7]
Companies and institutions
As of 2022, there are 28 financial banking or legal companies in fintech hub.[7]
- National Insurance Corporation New Town Office.jpg
NICL office
- State Bank of India Institute of leadership New Town.jpg
SBI Institute of leadership
National Insurance Company Limited (NICL) has their headquarters in the area. Also Bandhan Bank and erstwhile United Bank of India have their headquarters here.[8] Other banking institutions like UCO Bank, Union Bank, Bank of Baroda, Axis Bank, Corporation Bank, Bank of India, HDFC Bank, Bank of Baroda, Sriram Bank, Punjab National Bank, Vijaya Bank, Andhra Bank, Syndicate Bank, Indian Bank, Canara Bank, Karnataka Bank, South Indian Bank have their offices or regional headquarters in various stages of planning or construction. State Bank of India has their largest training centre here. Other companies include Sriram Credit, Credit Company, New India Assurance.[1][7][3]
Government institutions like Directorate of Revenue Intelligence, West Bengal Financial Corporation and HIDCO have their offices here.[1][7]
Connectivity and transport
Fintech Hub is located on the lines of Biswa Bangla Sarani. Kolkata Metro's Orange Line serves as the rapid transit of the area.[citation needed]
See also
- List of tech parks in Kolkata
- Bengal Silicon Valley Tech Hub
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "Politics Grounds Proposed Financial Hub in Bengal". September 27, 2021. https://www.newsclick.in/politics-grounds-proposed-financial-hub-bengal.
- ↑ 2.0 2.1 "Suman consultant for inward investment stretegy in New Town". December 5, 2020. https://timesofindia.indiatimes.com/business/india-business/suman-consultant-for-inward-investment-stretegy-in-new-town/articleshow/79572784.cms?from=mdr.
- ↑ 3.0 3.1 Sengupta, Tamal; Ghosal, Sutanuka (September 1, 2014). "New Town Rajarhat resurrects as financial hub as government takes initiative". https://economictimes.indiatimes.com/industry/banking/finance/new-town-rajarhat-resurrects-as-financial-hub-as-government-takes-initiative/articleshow/41415749.cms?from=mdr.
- ↑ Bureau, BW Online. "HIDCO Earmarks Plot In New Town For FinTech Companies". http://businessworld.in/article/HIDCO-Earmarks-Plot-In-New-Town-For-FinTech-Companies/17-09-2017-126325.
- ↑ Ray, Atmadip (September 10, 2021). "Owning a land at Kolkata Fintech Hub becomes easier with online facility". https://economictimes.indiatimes.com/industry/services/property-/-cstruction/owning-a-land-at-kolkata-fintech-hub-becomes-easier-with-online-facility/articleshow/86099645.cms?from=mdr.
- ↑ MP, Team (September 10, 2021). "New Town: Hakim to inaugurate Fintech hub today". https://www.millenniumpost.in/kolkata/new-town-hakim-to-inaugurate-fintech-hub-today-452533.
- ↑ 7.0 7.1 7.2 7.3 https://bengalfintechhub.in/assets/pdf/FintechHub-AnOverview.pdf
- ↑ https://m.economictimes.com/industry/banking/finance/banking/sbi-and-bandhan-bank-planning-to-move-their-back-office-verticals-to-fintech-hub-of-kolkata/articleshow/86097389.cms
 |  |
