TN CM unveils centre of excellence of fintech in Chennai

: Tamil Nadu government Friday said a new centre of excellence of fintech has been set up here at a cost of Rs 23 crore.

The centre, aimed at enhancing skill development and encouraging competition in the financial sector, was unveiled by Chief Minister K Palaniswami at a function in the Secretariat recently, a press release said.

Following an announcement made in the assembly, the centre was established with financial assistance from Software Technology Parks of India, central and state governments and also through venture capital fund from city-based firm Pontaq.

To set up the centre, a memorandum of understanding was signed between Intellect Design Arena Ltd, Torus Innovations Ltd, Royal Bank of Scotland, Yes Bank, PayPal, TIE, Pontaq and Software Technology Park of India, in the presence of Palaniswami recently.

Also, the Chief Minister gave away the sanction orders to seven private internet centres which would operate as an e-seva centre under the Tamil Nadu e-Governance Agency.