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Tamil Nadu possesses a storied heritage in the financial services industry, dating back to 1682 with the establishment of the first bank in the state, The Madras Bank. Recognized as the 'SaaS capital of India,' Tamil Nadu is now poised to transition into a global FinTech hub.


Largest in the Indian Economy


Top 500 Financial Institutions, worldwide


FinTech Startups


  • Tamil Nadu boasts a thriving and robust financial services industry.
    • Holds the distinction of having the highest credit-deposit ratio in India
    • Home to several home-grown banks, including Indian Overseas Bank, Indian Bank, Karur Vysya Bank, City Union Bank, and Tamil Nadu Mercantile Bank
    • "Tamil Nadu is a hub for top-performing Non-Banking Financial Companies (NBFCs), including Sundaram Finance, Cholamandalam Finance, and the Shriram Group."
  • Tamil Nadu is often referred to as the 'SaaS Capital of India,' signifying its leadership in the Software as a Service (SaaS) industry.
    • Is the birthplace of world-renowned unicorns like Zoho and Freshworks
  • Education serves as the backbone of Tamil Nadu's economy.
    • Tamil Nadu boasts a remarkable 585 engineering colleges, the highest number in India.
    • The state is home to 19 of the top 100 universities, 16 of the top 100 engineering colleges, and 33 of the top 100 colleges in the country.
    • Premier institutions like Anna University, IIT Madras, and NIT Trichy contribute significantly to the state's educational excellence.
  • Tamil Nadu boasts a robust digital infrastructure with 6 submarine cables, providing a total bandwidth of 14.8 Tbps for internet connectivity.
  • Pioneer global institutions in the Banking, Financial Services, and Insurance (BFSI) sector, including the World Bank, Bank of America, Citi, and Dun & Bradstreet, have chosen to establish their presence in Tamil Nadu.


Tamil Nadu is well-positioned to leverage the high FinTech adoption rate in India, which stands at an impressive 87%, the highest globally.

The state can capitalise on the substantial growth potential, as reflected in the 37% CAGR in digital payments transactions from FY19-21.

The FinTech market in Tamil Nadu is expected to experience significant growth, with a projected CAGR of 24.57% by 2025.

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