RBI to PNB: Andhra to lay foundation stone for 25 major financial institutions in Amaravati on Nov 28
Amaravati emerging as major financial hub; 25 major institutions coming up in new capital city
By Newsmeter Network
Amaravati emerging as major financial hub; 25 major institutions coming up in new capital city
Amaravati: Amaravati is all set to emerge as a major financial and commercial hub.
On November 28, the government is laying the foundation for 25 major private and public sector financial institutions, including the Reserve Bank of India (RBI).
Union Finance Minister Nirmala Sitharaman, along with Chief Minister N. Chandrababu Naidu and several ministers and senior officials, is scheduled to attend the ceremony.
The virtual foundation-stone-laying programme will be held between 11:10 a.m. and 12:25 p.m. at the Municipal Administration Department building located on the CRDA headquarters premises.
These financial institutions will be established across key locations in Amaravati, including Lingayapalem, Uddandarayunipalem, Rayapudi, Velagapudi, Nelapadu, and Ainavolu. The event was originally planned for last month but was postponed due to Cyclone Montha.
According to government sources, the establishment of these offices will significantly accelerate Amaravati’s transformation into a major financial centre, boosting job creation and employment opportunities in the region.
The institutions set to open their offices include the Reserve Bank of India, State Bank of India, Union Bank of India, IDBI Bank, LIC, New India Assurance Company Limited, the Income Tax Department, Canara Bank, AP Cooperative Bank, Bank of Baroda, Indian Bank, NABARD, Andhra Pradesh Grameena Bank, Central Bank of India, Bank of India, Punjab National Bank, Indian Overseas Bank, Coastal Area Bank, and others.
