Gandhinagar, Sept 7 (KNN) GIFT City, India’s first operational smart city and International Financial Services Centre (IFSC) has signed a MoU with YES Bank to encourage and support fintech startups.

The partnership aims to strengthen the fintech ecosystem in GIFT City.

The MoU was signed by GIFT City’s Managing Director and Group CEO Tapan Ray and YES BANK’s MD and CEO Prashant Kumar in Gandhinagar, Gujarat, said a press release.

The pact entails conducting programmes related to international financial services, promoting GIFT City as a fintech hub in India and exposing young innovators in the fintech domain to opportunities in India.

Both the parties will collaborate to organise roadshows, seminars, knowledge series, webinars and conferences for creating awareness on the GIFT City fintech regime and promoting GIFT City as the fintech hub of India to house fintech startups and new market participants.

Following the signing of the MoU, Tapan Ray, MD and Group CEO, GIFT City, said, “Through this MoU, we aim to provide a robust ecosystem to encourage and support fintech startups at GIFT City.”

Commenting on the development, Prashant Kumar, MD & CEO, YES BANK said “We are confident that with such a focused approach, we will witness significant momentum in building GIFT City as a preferred domicile for the highly strategic Indian startup ecosystem.”

They will also design and execute innovation and entrepreneurial programmes like boot camps, hackathons, and incubation and acceleration in the fintech domain, focused on areas such as payments, lending, financial planning, insurance technology, regulatory technology, wealth management and trade processing among others.  (KNN Bureau)