FinTech Hub, Kolkata
FinTech 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. 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.
History and timeline
International Financial Hub
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, Punjab National Bank and UTI Mutual Fund stated to invest and agreed to build their offices in the hub.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. 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, Punjab National Bank, Union Bank, Bank of Baroda, Allahabad Bank, Corporation Bank, Sriram Credit and West Bengal Financial Corporation and the HIDCO had their offices. In 2014, National Green Tribunal, a legal firm set up their centre.
2017 relaunch as FinTech hub
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. First 10 Acres were identified which was afterwards expanded. On 10 September 2021, HIDCO released an online portal for owing plots easily. Up to September 2021, 48 acres were allotted in 70 Acres. As of 2022, 28 financial and legal institutions have their offices in fintech hub.Overview
As of 2022, there are 28 financial banking or legal companies in fintech hub.Banking companies
and Punjab National Bank have their headquarters at the hub. State Bank of India has their largest training centre at the hub. Other banking institutions like UCO Bank, Punjab National Bank also have staff and executive training centres in FinTech hub.Financial organisations
, a leading insurance provider in India has their headquarters in the region. Government institutions like West Bengal Financial Corporation and West Bengal Infrastructure Development Finance Corporation have planned their offices at the hub.Other companies include Sriram Credit, Credit Company, New India Assurance.
Vertical City
Vertical City is a high-rise, mixed use skyscraper currently under construction. As of early 2024, the building is designed to have 38 stories, a mixture of commercial, startup, and residential spaces, and cost 163 crore.Facilities
Fintech hub has FAR relaxation up to 6.0 which allows larger floor area construction.List of office buildings or institutional centres
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 | Ref |
| National Insurance Company | Financial | Headquarters | Operational | |
| State Bank of India | Banking | Strategic and executive training unit | Operational | |
| Bandhan Bank | Banking | Headquarters | Under construction | |
| Bandhan Bank | Banking | Office | Under construction | |
| UCO Bank | Banking | Office | Operational | |
| UCO Bank | Banking | Strategic and executive training unit | Operational | |
| Union Bank | Banking | Office | Under construction | |
| Bank of India | Banking | Office | Under construction | |
| National Green Tribunal | Legal | Office | Operational | |
| Karnataka Bank | Banking | Office | Operational | |
| HDFC Bank | Banking | Headquarters of Eastern India division | Operational | |
| HDFC Bank | Banking | Currency chest | Under construction | |
| Directorate of Revenue Intelligence | Government of India agency | Office | Operational | |
| Institute of Chartered Accountants of India | Financial | Campus | Operational | |
| Punjab National Bank | Banking | Staff training centre | Under construction | |
| Oil and Natural Gas Corporation | Energy: Oil and gas | East India headquarters | Under construction | |
| Canara Bank | Banking | Office | Under construction | |
| West Bengal Finance Corporation | Government of West Bengal agency | Headquarters | Under construction | |
| HIDCO | Government of West Bengal agency | Office | Under construction | |
| West Bengal Infrastructure Development Finance Corporation | Government of West Bengal agency | Headquarters | Under construction | |
| Axis Bank | Banking | Office | Under construction | |
| Allahabad Bank | Banking | Office | TBD | |
| Income Tax Appellate Tribunal | Government of India agency | Office | TBD | |
| Bank of Baroda | Banking | Office | TBD | |
| Corporation Bank | Banking | Office | TBD | |
| Bank of Baroda | Banking | Office | TBD | |
| Sriram Credit company | Financial | Office | TBD | |
| Vijaya Bank | Banking | Office | TBD | |
| Andhra Bank | Banking | Office | TBD | |
| Syndicate Bank | Banking | Office | TBD | |
| Indian Bank | Banking | Office | TBD | |
| New India Assurance | Financial | Office | TBD | |
| FoxMandal | Legal | Office | TBD |