When The CM Finally Revealed Why Fintech is So Important to Him

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The Chief Minister of Andhra Pradesh sure knows when to explain his plans and when not to. The otherwise quiet and unreadable personality, also known for his workaholic nature rarely indulges in a casual banter with the press. That too, on select occasions. The recent CM’s fixation on the newly opened Fintech tower raised lot of eyebrows. However, Mr Naidu embraced the moment to finally reveal why it matters so much to him.

The opportunity came by when the AP government signed a pact with Visa Inc. and Thomson Reuters where the latter established plans to set up operations at the newly opened Fintech hub in Vizag.

When asked by a new media magazine LiveMint, Mr CM answered some very important questions surrounding his plans with Fintech and why it matters so much for Andhra Pradesh.

The CM explained that Fourth Industrial revolution is a deadly combo of technology as well as IoT (Internet of Things). His brainchild, Fintech, will house tomorrow’s technology.

The CM said that the state is headed towards creating an ecosystem, weaving best practices around Fintech. He spoke about the long run plans to empower Sunrise state with futuristic technology, making IoT run day to day transactions even for a common man. He envisions to create more jobs that boost the economy and sustain livelihoods.

There are phase wise plans that are lined up – phase one will see Fintech rising and then adequate technology and bandwidth supporting the same. The CM intends to give 15 to 20 mbps to every household, college and business establishments in the state. This being the minimum bandwidth.

After that, the AP govt wants to expand on offering better bandwidth to conduct businesses, empower education and even engage housewives with access to data.

Fintech is definitely on CM’s main agenda and will see many more developments and collaborations to make technology reach the citizens.

Source – Livemint



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