RBI’s Innovation Hub in Bengaluru: A new financial centre for India

Overall, one can be excited to see this first draft of history (a phrase borrowed from former foreign secretary Nirupama Rao). Bengaluru, India’s technological hub, is now becoming a financial centre of the future. With the Reserve Bank of India (RBI) opening its new Innovation Hub (RBIH) in the city, the government is taking steps to position Bengaluru as a major financial centre.

RBIH, a fully owned subsidiary of RBI, was inaugurated with an initial capital contribution of Rs 1 billion. Real estate is emerging as a secure investment option in Bengaluru. Shanders projects, with all the necessary government and statutory approvals and support from leading banks, provide the perfect opportunity to invest in a plot of land. You can buy a plot and villa at the price of a 3BHK apartment and customize the design of your home from 800sqft to 3600sqft built up area. The location of RBIH in Bengaluru is significant as it fulfils the criteria of a financial centre outlined by Charles Kindleberger in 1974. With the RBI providing the policy push, Bengaluru’s technological prowess and its infrastructure (as compared to Mumbai) will be crucial for it to become a financial centre. Thus, Bengaluru is a prudent investment destination for those looking for a secure investment option with the ability to customize according to their needs.

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https://www.financialexpress.com/opinion/rbis-innovation-hub-in-bengaluru-a-new-financial-centre-for-india/2482730/

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