FinTech Hub | |
|---|---|
| Country | India |
| State | West Bengal |
| District | North 24 Parganas |
| Region | Kolkata Metropolitan Area |
| City | New Town |
| Division | New Town CBD |
| Established | 13 October 2010 [1] |
| Established as | International Financial Hub |
| Relaunched | 2017 [2] |
| Relaunched as | FinTech Hub Kolkata |
| Area | |
• Total | 30 ha (70 acres) |
| Language | |
| • Official | Bengali, English |
| Time zone | IST |
| Administrative body | West Bengal Housing Infrastructure Development Corporation |
| Rapid transit | Kolkata Metro Orange Line |
| Based on | Financial technology |
| Website | bengalfintechhub |
FinTech Hub (formerly known as International Financial Hub) is a financial, commercial centre and business district located in New Town city, which lies outskirts of Kolkata under its metropolitan area in the state of West Bengal, India. [3] The hub has the presence of a large number of banking, financial companies and legal institutions. Many major companies have their headquarters, offices and training centres operational or under construction.
In 2010, inspired by the Bandra Kurla Complex in Mumbai and to turn Kolkata into an international financial centre, the then chief minister of West Bengal Buddhadeb Bhattacharjee and finance minister Asim Dasgupta proposed an International Financial Hub on 100 Acres of land in New Town. The union finance minister of that time, Pranab Mukherjee laid the foundation stone of the project on 13 October 2010. The project had a deadline to be completed in five years. State Bank of India, UCO Bank, erstwhile United Bank of India and UTI Mutual Fund stated to invest and agreed to build their offices in the hub. [1]
In 2011, the new chief minister of West Bengal Mamata Banerjee restarted the project and laid the foundation stone again on 10 March 2012. While the previous Government accorded the project to a private company, this time the project was given to HIDCO. [1] Up to 2014, 35.76 Acres were in use and out of 23 plots, 11 plots were booked. Banks and financial institutions like the NIC, State Bank of India, UCO Bank, erstwhile United Bank of India, Union Bank, Bank of Baroda, Allahabad Bank, Corporation Bank, Sriram Credit and West Bengal Financial Corporation and the HIDCO had their offices. [4] In 2014, National Green Tribunal, a legal firm set up their centre. [5]
In 2017, the project was relaunched as a FinTech hub. The purpose was to develop financial technology industry in West Bengal. In 2020, 23 financial institutions had their offices setup in the hub. [2] First 10 Acres were identified [6] which was afterwards expanded. On 10 September 2021, HIDCO released an online portal for owing plots easily. [7] [8] Up to September 2021, 48 acres were allotted in 70 Acres. [1] As of 2022, 28 financial and legal institutions have their offices in fintech hub. [3]
As of 2022, there are 28 financial banking or legal companies in fintech hub. [3]
Bandhan Bank and erstwhile United Bank of India have their headquarters at the hub. [9] State Bank of India has their largest training centre at the hub. [10] Other banking institutions like UCO Bank, [11] Punjab National Bank also have staff and executive training centres in FinTech hub. [4]
National Insurance Company, a leading insurance provider in India has their headquarters in the region. [12] Government institutions like West Bengal Financial Corporation and West Bengal Infrastructure Development Finance Corporation have planned their offices at the hub. [1] [3] Other companies include Sriram Credit, Credit Company, New India Assurance. [1] [3] [4]
Vertical City is a planned high-rise, mixed use skyscraper. As of January 2024 [update] , the building is projected to have 38 stories, a mixture of commercial, startup, and residential spaces, and cost ₹ 163 crore. [13]
Fintech hub has FAR relaxation up to 6.0 which allows larger floor area construction.[ citation needed ]
This is a list of companies which have taken plot in FinTech hub and set up offices/ units/ training centres or financial centres.
| Company | Type | Building type | Status (As of June 2023) | Ref(s) |
|---|---|---|---|---|
| National Insurance Company | Financial | Headquarters | Operational | [12] |
| State Bank of India | Banking | Strategic and executive training unit | Operational | [10] |
| Bandhan Bank | Banking | Headquarters | Under construction | [14] |
| Office | Under construction | |||
| UCO Bank | Banking | Office | Operational | [14] |
| Strategic and executive training unit | Operational | [15] | ||
| Union Bank | Banking | Office | Under construction | [14] |
| Bank of India | Banking | Office | Under construction | [14] |
| National Green Tribunal | Legal | Office | Operational | [5] |
| Karnataka Bank | Banking | Office | Operational | [14] |
| HDFC Bank | Banking | Headquarters of Eastern India division | Operational | [14] |
| Currency chest | Under construction | |||
| Directorate of Revenue Intelligence | Government of India agency | Office | Operational | [14] |
| Institute of Chartered Accountants of India | Financial | Campus | Operational | [16] |
| Punjab National Bank | Banking | Staff training centre | Under construction | [14] |
| Oil and Natural Gas Corporation | Energy: Oil and gas | East India headquarters | Under construction | [14] |
| Canara Bank | Banking | Office | Under construction | [14] |
| West Bengal Finance Corporation | Government of West Bengal agency | Headquarters | Under construction | [14] |
| HIDCO | Government of West Bengal agency | Office | Under construction | [14] |
| West Bengal Infrastructure Development Finance Corporation | Government of West Bengal agency | Headquarters | Under construction | [14] |
| Axis Bank | Banking | Office | Under construction | [14] |
| Allahabad Bank | Banking | Office | TBD | [14] |
| Income Tax Appellate Tribunal | Government of India agency | Office | TBD | [14] |
| Bank of Baroda | Banking | Office | TBD | [14] |
| Corporation Bank | Banking | Office | TBD | [14] |
| Bank of Baroda | Banking | Office | TBD | [14] |
| Sriram Credit company | Financial | Office | TBD | [14] |
| Vijaya Bank | Banking | Office | TBD | [14] |
| Andhra Bank | Banking | Office | TBD | [14] |
| Syndicate Bank | Banking | Office | TBD | [14] |
| Indian Bank | Banking | Office | TBD | [14] |
| New India Assurance | Financial | Office | TBD | [14] |
| FoxMandal | Legal | Office | TBD | [14] |
Fintech Hub is located on the lines of Biswa Bangla Sarani. Kolkata Metro's Orange Line serves as the rapid transit of the area.[ citation needed ]