Noida News: In an effort to establish Uttar Pradesh as a leading financial services hub in Asia, the state has opened bidding for a 100-acre fintech park in Noida. The Fintech Park’s nodal agency, Yamuna Motorway Industrial Development Authority (YEIDA), has released the request for proposals (RfP) document for the feasibility study and detailed project report (DPR).
Fintech Park Infrastructure
Bids must be submitted by January 2nd, according to YEIDA Additional Chief Executive Officer (CEO) Vipin Kumar Jain. The infrastructure included in the fintech park, which is slated to be developed in Noida Sector 13, will support the expansion of financial services firms throughout the financial and related value chain. The park is scheduled to be constructed in close proximity to the Jewar International Airport, which is scheduled to commence operations in September 2024.
Financial Services Ecosystem
In addition to offering ancillary services like lodging, business spaces, data centres, shopping arcades, etc., it will enable stock exchanges, stock brokers, crowdfunding, angel funding, banking, insurance, digital money, digital economy, financial R&D, capital markets, etc. Currently, the Noida-Greater Noida region is home to almost 240 fintech startups working in the fields of digital wealth management, payments, blockchain, and digital lending. Pine Labs, Spice Money, Paytm Payments Bank, DiGiSPICE, OneCode, Wishfin, FanTiger, Marquee Equity, Easypolicy, Buddy4Study, Oye Loans, PayMe India, PortDesk, and Nivesh.com are the most well-known of these companies.
Favorable Business Environment
“Due to the presence of world-class infrastructure, robust power supply, internet connectivity, and superior manpower, the Noida-Greater Noida corridor has emerged as a favourite destination for startups and fintech companies,” a government spokesperson said. The Indian Institute of Management (IIM), Lucknow, is looking to update its curriculum to better prepare students for the local and international financial and investment landscape in response to the growing demand from the fintech and investment domains.
Infrastructure Development
IIM Lucknow has become a member of the University Affiliation Programme (UAP) of the CFA Institute, a global association of investment professionals. The partnership’s goal is to equip students with the “high-caliber” management education they need to thrive in the investment sector. A global bidding document for an International Film City spanning 230 acres in Sector 21 of Noida has been put out by YEIDA in the meantime. December 22 was the deadline for bid submissions.
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