Kanu Desai, the finance minister for Gujarat, announced the establishment of a “fintech centre” at GIFT City with assistance from the Asian Development Bank (ADB) while delivering the annual budget for the fiscal year 2022–2023. The GIFT City campus is located on the banks of the Sabarmati River, and the budget included a separate provision of Rs 150 crore for the building of a riverfront there. “A specialised fintech hub will be set up at the GIFT City with an objective to improve the quality of fintech education and research, promote fintech start-up and incubation and evidence-based research technology,” said Desai in his budget speech. A provision of Rs 76 crore was also made for GIFT City.

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