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Wednesday, July 13, 2016

Govt plans new financial district

In a bid to challenge the likes of Mumbai and Ahmedabad in the financial sector, the Telangana government is now planning to develop a new financial district spread over 50 acres in the next six to nine months.The existing 75-acre financial district is `completely saturated', even as the demand from the Banking, Financial Services and Insurance (BFSI) sector continues to grow by leaps and bounds.

“Ahmedabad has created some fantastic infrastructure called Gujarat International Finance Tec-City (GIFT) but in terms of technology, Mumbai and Ahmedabad do not match up to Hyderabad. Today's financial world is driven by technology and since Hyderabad has a proven record in technology promise, we want to become the new BFSI capital, chal lenging Mumbai and Ahmedabad,“ said information technology secretary Jayesh Ranjan.

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