West Bengal exhorts financial players to invest in state

August 23rd, 2012 - 6:52 pm ICT by IANS  

State Bank of India New Delhi, Aug 23 (IANS) The union urban development ministry and the West Bengal government Thursday exhorted banking and financial institutions to set up their branches at its International Financial Hub in Kolkata’s New Town.

At a meeting with Minister of State for Urban Development Saugata Roy and other business players in the capital, West Bengal’s Urban Development Minister Firhad Hakim showcased the potential of the hub, which is spread over 7,000 acre.

“We invite all of you to the financial hub in New Town of Kolkata. We invite you to the progress of West Bengal,” Hakim urged the financial and institutions’ representatives present in the meeting.

The minister expressed his gratitude to the central government for supporting the sprawling 7,000-acre financial hub.

“Satellite towns are being created to decongest the cities to give rise to better living and environment to the people,” Roy said.

The hub is very near to the Netaji Subhash Chandra Bose International Airport.

Of the 7,000 acres, 400 acres have been earmarked for the Central Business District.

Representatives of banks such as the Reserve Bank of India, State Bank of India, Canara Bank, Yes Bank and other financial institutions were present in the meeting.

West Bengal Chief minister Mamata Banerjee had laid the foundation the international financial hub in New Town in March 2012.

She had said that it would attract investments of over Rs.1,60,000 crore in residential and commercial projects.

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