In a bid to make Tamil Nadu a financial technology hub, the Tamil Nadu government last week announced that it has set up a FinTech Governing Council. "While Mumbai is the financial capital and Bengaluru the technology capital, Chennai is uniquely positioned to be the Fintech capital of India. In the past two decades, more than 250 large financial institutions across 50 plus countries have been supported by their captives and third-party technology companies based out of Chennai, driving innovative products and solutions," Ramkumar Ramamoorthy, a member of the council, told Times of India. The Tamil Nadu government has also come up with a fintech policy that is expected to be revealed today at the Tamil Nadu Investment Conclave 2021 and a FinTech city is being planned at Nandambakkam in Chennai at an estimated cost of ₹165 crores. Tamil Nadu is not alone in trying to attract fintech companies to its state, the Karnataka government on November 18 announced that it is setting up a fintech task force led by Harshil Mathur, the founder and CEO of Razorpay, to create a roadmap for the growth of the industry. Members of the FinTech Governing Council According to a tweet shared by Guidance Tamil Nadu, the government's nodal agency for investment promotion, the following members constitute the council: Thangam Thennarasu, Minister of Industries (Chairperson) Irai Anbu, Chief Secretary (Vice-Chairperson) Pooja Kulkarni, Managing Director and Chief Executive Officer of Guidance Tamil Nadu (Member-convener) Balaji Nuthalapadi, Managing Director and Head of Operations & Technology, Citi South Asia (Member) Sundar Kannan, director of a…
Tamil Nadu sets up FinTech Governing Council in a bid to make the state a FinTech hub
The state government has tapped eleven members for the council that will meet once in six months.
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