AP CM to inaugurate Fintech Tower in Vizag.

Chief Minister N. Chandrababu Naidu is scheduled to inaugurate a Fintech tower and also six Fintech companies at Rushikonda IT park on Saturday afternoon during his day-long tour to the city, according to official sources.

According to State Government's IT adviser, J.A Chowdary, said the State Government wanted to give a big boost to the Fintech segment in the State and several companies had evinced interest in setting up shop here. The State Government would soon sign agreements with Andhra University, Gitam University, the JNTU and other academic institutions to introduce short-term courses in colleges ranging from three months to one year on finance technology (Fin Tech) to prepare students. A meeting of vice-chancellors and academics would be held here for the purpose.

He said ultimately the State Government wanted to develop the city as a Fintech Valley. 'We expect 50-60 companies in the segment to arrive here and we are preparing the ground for it,' he said.

He said the State Government wanted to promote e-literacy on a large scale in the State in the aftermath of demonetisation. 'Even many of the educated persons having cards prefer cash transactions and they have to be told about the desirability of cashless transactions. We also have to increase internet penetration and build up the supporting infrastructure,' he said.

He said the Government was also focusing on cyber security and related aspects.

HBL