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."
Expressing serious concern over the ongoing protests in Andhra Pradesh, following the nod for the creation of a separate Telangana State, the Communist Party of India (CPI) leader D Raja said that the Centre must address the genuine concerns of the people and assure them that their interests will be duly protected.
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