The foundation stone laying ceremony for the establishment of headquarters of public sector banks and insurance companies in the capital city of Amaravati was held in the presence of Union Finance Minister Smt. Nirmala Sitharaman. The initiative marks a significant step in strengthening Amaravati as a major financial and administrative hub.
As part of this development, foundation stones were laid for 15 bank and insurance company headquarters, with financial institutions planning to invest approximately ₹1,334 crore in setting up their offices. The institutions include SBI, UBI, BOI, PNB, Canara Bank, Andhra Pradesh Grameena Bank, IDBI Bank, Indian Overseas Bank, Central Bank of India, LIC, and NABARD. These projects are expected to generate employment opportunities for nearly 7,000 youth.
The ceremony was attended by several dignitaries, including Chief Minister Sri N. Chandrababu Naidu, Deputy Chief Minister Sri Pawan Kalyan, Union Minister Sri Pemmasani Chandrasekhar, Ministers Sri Nara Lokesh and Sri Payyavula Keshav, along with chairpersons, CMDs of the respective banks, and other senior officials, reflecting strong coordination between the Centre, the State, and financial institutions
