Bangalore eyes financial businesses
Such a facility will offer multiple benefits in terms of downstream development and also diversify its economic strength which is now dependent on IT.
On April 8, the Finance Minister laid the foundation stone for a financial city in Bangalore. The IFCI Financial City will come up near the international airport, at the Hardware Park on Bagalur Road.
The Karnataka Government has allotted 50 acres for this project, to be developed by IFCI Infrastructure Development Ltd (IIDL), which is to develop the facility in association with banks and financial institutions.
Explaining the financial city, Mr P.V. Srinivas, Managing Director, IIDL, says that it will be a hub where all participants in the financial system have their offices. "It will be a one-stop-shop for all those who would like to avail of financial services."
The water level of the Yamuna river has crossed the danger mark in Delhi, increasing the threat of flood. Locals are gearing to face the crisis as the rains are at least twice as heavy as usual in northwest and central parts of India.
Date 18 hrs ago, Duration 1:02, Views 936