Bankrupt RCom arm to build a fintech centre in Navi Mumbai

Bankrupt Reliance Communications on Monday said it will develop a 132-acre land parcel on the outskirts of the city as a fintech centre. The 132-acre land parcel called Dhirubhai Ambani Knowledge City (DAKC) in the satellite city of Navi Mumbai used to serve as a corporate nerve centre for the company, which filed for insolvency earlier this month.

In the past, chairman Anil Ambani had claimed that the plot had a development potential of Rs 25,000 crore.

In a statement Monday, the company said its wholly-owned subsidiary Reliance Realty will be developing what it claimed as Maharashtra’s first ‘smart fintech centre’.