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HIDCO earmarks plot in New Town for FinTech companies

Press Trust of India  |  Kolkata 

The Housing Infrastructure Development Corporation (HIDCO) has earmarked a 10-acre plot in New Town for a hub for Financial Technology (FinTech) companies.

According to a senior official, the HIDCO is planning to start inviting applications from interested companies for a space in the hub by this year-end.

"A 10-acre of land has been identified for a hub to allot the Financial Technology (FinTech) companies. We are planning to invite application from companies for this space hopefully by this year-end," the official said.

Fintech is an emerging industry comprising companies using technology to provide financial services like payment, automatic banking, share market analytics, predictions as well as asset management.

HIDCO, he said, was also working to set up an international financial services centre in the Central Busines District (CBD) of New Town.

"This international financial services centre will be absolutely for investors and foreign nationals to trade and exchange in foreign currency," the officer said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, September 17 2017. 14:57 IST