Date: November 20, 2021

TN constitutes FinTech Governing Council ahead of investment conclave

TN constitutes FinTech Governing Council ahead of investment conclave

In the pursuit of becoming a global fintech hub, the Tamil Nadu government has constituted a FinTech Governing Council under the chairmanship of the Industries Minister Thangam Thennarasu with Chief Secretary V Irai Anbu as the Vice Chairman.

Guidance Tamil Nadu’s Managing Director & CEO Pooja Kulkarni will be the Councils’ convenor, said a tweet by Guidance Tamil Nadu.

Investment conclave
The announcement to set up the Council comes as a precursor to the launch of the fintech policy at the Investment Conclave to be held in Coimbatore on November 23. Chief Minister MK Stalin will preside over the event.

TN to announce fintech policy at investment conclave

The Council will have senior bureaucrats — Industry Secretary S Krishnan, Finance Secretary N Muruganandam, IT Secretary Neeraj Mittal and MSME Secretary Arun Roy — as members representing government departments. Sanjay Tyagi, CEO of FinBlue and Director of STPI-Chennai will also be a member.

The industry will be represented by Ramkumar Ramamoorthy, former CMD of Cognizant India, Balaji Nuthalapadi, MD & Head of Operations, Citi South Asia, and Sundar Kannan, Director of a leading Wall Street investment banking corporation as members.

Interestingly, the Bengaluru Tech Summit in Karnataka on Thursday launched a task group for fintech growth to create a roadmap for the growth of the industry.

Fintech City
Fintech is an emerging sectors that the State government is strongly promoting. The Tamil Nadu government has already kickstarted the implementation of a fintech city in Chennai by Tidco at a cost of ₹165 crore.

 ‘Fintech has the potential of becoming a major employment generator in TN’

The fintech city will also supplement the efforts of FinBlue, a fintech Centre of Excellence hosted at STPI, Chennai, which identifies, nurtures, funds and scales fintech startups.

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