Latest news with #IntegratedGlobalFinancialTechnologyCapabilityHub
New Indian Express
7 days ago
- Business
- New Indian Express
Odisha set to unveil India's first global FinTech hub in Bhubaneswar on August 21
BHUBANESWAR: In a significant move that may reshape Odisha's digital economy, the state government on Thursday announced the launch of Integrated Global Financial Technology Capability Hub (I-GFTCH) in the city. The government had signed an MoU with Singapore-based Global Finance and Technology Network (GFTN) and Asian Institute of Digital Finance at National University of Singapore (NUS-AIDF) during the visit of the country's President Tharman Shanmugaratnam in January. The I-GFTCH will be inaugurated by Chief Minister Mohan Charan Majhi on August 21 after the selection of the first batch of students. The first-of-its-kind FinTech capability centre will make over 7,000 graduates job-ready with professional training in FinTech and InsurTech domains in next five years. Minister for Electronics and IT Mukesh Mahaling said with I-GFTCH, Odisha not only enters the FinTech race, it aims to set the pace. 'Odisha's financial services sector, now contributing around eight per cent to the state's gross state value added (GSVA), has been earmarked for rapid expansion under Vision Odisha 2036 and 2047. The state aims to boost the GSVA share to nearly 49 pc by 2047 by focusing on advanced banking, insurance, payments and emerging FinTech solutions,' he said. As part of the initiative, I-GFTCH will offer a future-proof FinTech and InsurTech professional certification programme to job aspirants to be selected through an online test. This five-month hybrid course with online modules, on-campus sessions and internship placements has been designed for final year undergraduate and postgraduate students seeking to build a career in the financial sector.
New Indian Express
31-07-2025
- Business
- New Indian Express
Odisha to house India's first integrated FinTech capability hub in Bhubaneswar
BHUBANESWAR: In a significant move poised to reshape Odisha's digital economy, the state government on Thursday announced the launch of the Integrated Global Financial Technology Capability Hub (I-GFTCH) in the city. Being set up in collaboration with Singapore-based Global Finance and Technology Network (GFTN) and the Asian Institute of Digital Finance (AIDF) at the National University of Singapore (NUS), this first-of-its-kind FinTech capability centre will make over 7,000 graduates job-ready with professional training in FinTech and InsurTech domains over the next five years. Minister for Electronics and IT Mukesh Mahaling said that with I-GFTCH, Odisha not only enters the FinTech race but also aims to set the pace. 'Apart from the direct value creation of ₹299 crore, an indirect economic impact is estimated at ₹898 crore over five years through the initiative by strengthening employment, service exports, and sector-wide innovation,' he said. 'Odisha's financial services sector, now contributing around eight per cent to the state's Gross State Value Added (GSVA), has been earmarked for rapid expansion under Vision Odisha 2036 and 2047. The state aims to boost the GSVA share to nearly 49 per cent by 2047 by focusing on advanced banking, insurance, payments, and emerging FinTech solutions,' he added. As part of the initiative, I-GFTCH offers a future-proof FinTech and InsurTech professional certification programme to job aspirants, who will be selected through an online test. This five-month hybrid course includes online modules, two weeks of on-campus sessions in Bhubaneswar, hands-on projects, and internship placements. It has been designed for final-year undergraduate and postgraduate students seeking to build a career in the financial sector. They will receive certificates from NUS-AIDF upon completion of the course. Minister for Higher Education Suryabanshi Suraj said this initiative places Odisha on the global map of digital skilling, aligning seamlessly with India's broader technological aspirations. 'We are committed to building a talent pipeline that can power India's innovation economy, and certification is a powerful step forward,' he said. The programme, commencing in September, adopts a hybrid learning format, with 60 per cent virtual lessons and 40 per cent in-person sessions. Selected students will be trained in AI, insurance, blockchain, governance, and finance. The programme is also expected to directly contribute to job creation, with 2,000 projected jobs linked to the capacity-building and talent development programme over five years.
