ENA Sectors 2023-11-23 16:18:01 <p><span style="font-size:14px"><strong>Noida, Nov 23 (KNN)</strong> The Yamuna Expressway Industrial Development Authority (YEIDA) is planning to establish a FinTech Hub in order to attract investments to Uttar Pradesh.</span></p> <p><span style="font-size:14px">The authority is considering an area of around 350 acres in Sector 9 for the proposed hub which is inspired fr0m leading states Gujarat, Maharashtra and Tamil Nadu.</span></p> <p><span style="font-size:14px">It will be a dedicated region where many institutions related to the financial sector will be headquartered.</span></p> <p><span style="font-size:14px">On Monday, YEIDA published the tender to select a consultant to carry out a feasibility study-cum-detailed project report (DPR) for the hubs development. The last date to submit the bid is December 13; a pre-bid meeting will be held on November 29.</span></p> <p><span style="font-size:14px">FinTech is a term broadly used to describe emerging technological innovations in the financial services sector, with ever-increasing reliance on information technology. Officials said services such as blockchain, research, digital money, investment, and crowd-funding, among others, will be offered in such a hub.</span></p> <p><span style="font-size:14px">Dr Arun Vir Singh, CEO, YEIDA said, It will promote various aspects of ease of doing business. The Uttar Pradesh governments new FDI policy is definitely going to help implement this plan on the ground. Companies will get land at a subsidised rate, along with other benefits.</span></p> <p><span style="font-size:14px">The hub will facilitate research, innovation and development of new-age skills and create new jobs. It will provide start-ups with an innovative and regulatory sandbox/prototyping ecosystem, mentorship programmes, and a platform to partner with global players and the government, he said.</span></p> <p><span style="font-size:14px">YEIDA is currently discussing if it can be the developer, or whether to select a single developer like (we planned for) Film City fr0m outside, or develop the hub through a PPP model or hybrid mode. The consultant is expected to provide the most feasible way forward.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 35630 https://knnindia.co.in/news/newsdetails/sectors/yeida-fintech-hub-to-come-up-in-350-acres-near-noida 2023-11-23 16:18:01 knnindia.co.in