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Fintech City: Tamil Nadu’s Unparalleled Journey in Financial Technology

Industries Minister's Vision for Tamil Nadu's Fintech Revolution (via-: Twitter/ @UpdatesChennai)

Tamil Nadu has been seeping progressively through the Tech industry and it’s greater feats day by day. In a recent groundbreaking development, the news rose which stated that under State’s Technological development plan Tamil Nadu is about to receive Fintech’s tech-based city. According to T R B Rajaa, Tamil Nadu Industries Minister , the Financial Technology Tower, which will come up in Nandambakkam in Chennai, is expected to generate 7,000 new jobs in the state in the initial phase.

On 15th May 2023, Monday, Tamil Nadu got its first Technology Hub at Anna University Campus , inaugurated by honorable chief minister MK Stalin. The Tamil Nadu Technology Hub (iTNT) has been setup at a cost of Rs.54.61 crore by the state government with support of Ministry of Electronics and Information Technology and industry partnership.

According to a Tweet by Chennai Updates, some initial renders as in images were released which is highlighted below,

A Tweet about the New Fintech City (via-: Twitter/ @UpdatesChennai)

Chief Minister M K Stalin on Saturday set-up the foundation stone for the Fintech Tower which is made out of an investment of worth INR 370 Crores, this is expected to generate 90,000 jobs in the sector.

As the first phase of development of TN FinTech City, the Fintech tower in Nandambakkam, Chennai will attract over Rs 1,000 crore investments and generate 7,000 employment opportunities for Tamil Nadu and make the state an unparalleled hub in financial technology sector.

said TN IT Minister in a social media post.

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 democratizing access to financial services” said T B Rajaa.

By harnessing the power of technology, Tamil Nadu aims to revolutionize the way financial services are delivered, making them accessible to all sections of society. By fostering trust and providing a level playing field, Tamil Nadu aims to attract global players while safeguarding the interests of consumers and investors.

Tamil Nadu’s unparalleled journey in financial technology is a testament to the state’s visionary leadership and commitment to driving economic growth through innovation. With its collaborative ecosystem, investor-friendly policies, robust infrastructure, and regulatory support, Tamil Nadu is poised to become a global fintech hub.

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