GIFT City signs a MoU with YES BANK to support fintech startups

• ByStartupStory     |    September 8, 2022

GIFT City, India’s first operational smart city and International Financial Services Centre (IFSC), has inked a Memorandum of Understanding (MoU) with YES Bank to develop and support fintech firms. The collaboration intends to develop the GIFT City fintech ecosystem. 

According to a press release, the MoU was signed in Gandhinagar, Gujarat, by GIFT City’s Managing Director and Group CEO Tapan Ray and YES BANK’s MD and CEO Prashant Kumar. The agreement calls for the conduct of international financial services programs, the promotion of GIFT City as a fintech hub in India, and the exposure of young innovators in the fintech sector to prospects in India.

Both parties will work together to organize roadshows, seminars, information series, webinars, and conferences in order to raise awareness about the GIFT City fintech regime and promote GIFT City as India’s fintech hub for fintech firms and new market participants.

Through this MoU, they hope to establish a healthy environment to foster and assist fintech companies in GIFT City. Tapan Ray, MD and Group CEO of GIFT City confirmed this following the signing of the MoU.

reassured, “We are confident that with such a focused approach, we will witness significant momentum in building GIFT City as a preferred domicile for the highly strategic Indian startup ecosystem.”

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