Chennai, June 19 (KNN) Tamil Nadu chief minister M K Stalin on Saturday laid down the foundation stone for the Fintech City and Fintech Tower projects in Chennai.

As per reports, the Fintech City and the Fintech tower are being set up at an outlay of Rs 370 crore and are expected to generate over 90,000 jobs in the state.

The proposed financial technology tower of Fintech City is expected to bring in investments worth Rs 1,000 crore in its first phase, Tamil Nadu Industries Minister T R B Rajaa said.

"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.

State government-backed nodal agency Guidance Bureau said the launch of the fintech tower sets the stage for a state-of-the-art facility propelling the growth of the industry in the financial technology segment to new heights.  (KNN Bureau)