The Uttar Pradesh government has initiated the bidding process for a 100 acre fintech park in Noida. The project aims to strengthen the economy of the state and transform it into a major financial services hub. According to a report by Financial Express, Yamuna Expressway Industrial Development Authority (YEIDA) has released the request for proposal (RfP) document, seeking a feasibility study and detailed project report (DPR) for the upcoming project.
The deadline for the submission of the bids has been extended to January 2, 2024 from December 13, 2023. Here is all you need to know about the fintech park.
The fintech park is to be developed in Noida Sector 13 and will offer infrastructure amenable for the expansion of financial services companies across the financial and allied value chain.
It will be developed in the vicinity of the Jewar International Airport, which is under construction and is expected to see the launch of its maiden flight in September 2024.
“It will facilitate stock exchanges, stock brokers, crowdfunding, angel funding, banking, insurance, digital money, digital economy, financial R&D, capital markets, etc, apart from providing peripheral facilities such as hospitality, commercial spaces, data centres, shopping arcades, etc.” according to a report by Business Standard.
Notably, there are approximately 240 operational fintech startups in Noida-Greater Noida in the domain of digital lending, payments, blockchain, and digital wealth management. Some of the major firms include Paytm Payments Bank, Pine Labs, Nivesh.com, PayMe India, and more.