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GLOBAL FINANCIAL DISTRICT
To promote the State as a global investment destination, the government is in talks with banking giants to set up a Global Financial District near Devanahalli, spread over 150 acres, which will also house a residential township. The district would provide specialized services for banks, insurance companies, stock exchanges and others players in the financial services sector. Some of the features of this district are,
»An investment of about Rs. 1,000 crore planned in 150 acres of land
»45 banks have shown interest to have their offices in the hub
»The project would include a township for the employees of the institutions in the district
»India Infrastructure Finance Corporation has come forward to set up the hub in association with the banks that show interest in investing on the project
This hub, expected to be ready in the next 18 months, will house corporate arms of all leading banks in India, insurance companies and financial companies that deal with needs of industries.
Industrial Finance Corporation of India (IFCI) has planned to invest Rs. 1,000 crore to set a base in the proposed global financial district in 50 acres of area out of total 150 acre district.
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