The Yamuna Expressway Industrial Development Authority (YEIDA) on Friday said it is likely to rename its Fintech Hub project in Sector 11 as the International Finance Centre, saying the new name defines the project better.
The authority plans to discuss the proposed name in its board meeting scheduled on September 6, 2025, said officials.
The Yeida has appointed the consultant Cushman & Wakefield to make a detailed project report (DPR) of the project and suggest sustainable development model to expedite on-ground work.
“Initially,the name was decided as Fintech City. However, the new name, International Financial Centre, better represents the project’s vision of becoming a hub for institutions involved in financial business. This project will become a major hub of North India once developed,” said RK Singh, chief executive officer of the Yamuna expressway industrial development authority.
After the meeting, the Yeida will discuss the concept with international companies, consultant and other stakeholders in Delhi to take the project to the next stage.
In 2022, the Yeida decided to develop Fintech City on the lines of GIFT City located in Gujrat.
A team will be sent to study the Gujarat model so that they can adopt the best practices, added officials.
The Yeida had in March, 2024 finalised the Cushman & Wakefield, a global real estate services firm, as a consultant to ready a detailed project report (DPR) of the Fintech City, to be built on 350 acres of land in Sector 11 near Noida International airport, officials said.
A FinTech hub is a dedicated area for financial services, which rely heavily on IT and related units. The key aspects in the FinTech hub include IT, IT enabled Services (ITeS), commercial offices, banking, stock exchanges, brokers, intermediaries, insurers, knowledge process outsourcing (KPO), business process outsourcing (BPO), trading, banks and hotels, among others.
The project will also get the benefits from the state government’s FDI (foreign direct investment) policy, including land subsidies for companies with 100% FDI investment. Additionally, companies will receive R&D [research and development] funds for five years, support for skill development, and various other monetary incentives.
The Yeida wants to establish a FinTech Hub in order to lure investments in this region and aims to develop this on 350 acres of land in sector 11 located along Yamuna Expressway. However the Yeida will also acquire the land for this sector 11 developmental work.
The Fintech hub is aimed at promoting innovations, new startups in digital banking, digital app-based lending, crowdfunding, electronic payment services and insurance technology among other areas.
“We want to lure international institutions like the International Monetary Fund, World Bank, Stock Exchange here. Apart from this, corporate offices of big banks would also be allocated space here,” said Yeida official.