Nirmala Sitharaman Lays Foundation Stones for Buildings of 25 Banks and PSUs in Amaravati
Union Finance Minister Nirmala Sitharaman on Friday laid the foundation stones for the construction of buildings for 25 banks and public sector undertakings in Amaravati. This will make Amravati an integrated Financial Hub.
The event was attended by Andhra Pradesh Chief Minister Chandrababu Naidu, Deputy CM Pawan Kalyan, Ministers Nara Lokesh, Narayana, Payyavula Keshav, Union Minister Pemmasani Chandrasekhar, and senior officials from the participating banks. The programme was held at the CRDA project office, located in the first block near the Capital Seed Access Road in Amaravati. Farmers, agricultural labourers, women, and local residents of the capital also took part.
Foundation stones were laid for the offices of Andhra Pradesh Gramin Bank, Central Bank of India, AP Cooperative Bank Limited, Bank of India, Canara Bank, State Bank of India, Union Bank of India, Bank of Baroda, Indian Bank, NABARD, Punjab National Bank, Indian Overseas Bank, IDBI, LIC, and New India Assurance Limited.
The total cost of construction for these buildings is ₹1,334 crore.
Officials said that setting up these offices will help Amaravati grow into a major financial hub. It will also boost job creation and offer new employment opportunities in the region. The Government has highlighted that it will also create numerous jobs. The cost of building is given below.
| Institution | Amount (₹ crore) |
|---|---|
| Andhra Pradesh Gramin Bank | 256 |
| Central Bank of India | 40 |
| AP Cooperative Bank Limited | 200 |
| Bank of India | 40 |
| Canara Bank | 50 |
| State Bank of India | 300 |
| Union Bank of India | 50 |
| Bank of Baroda | 60 |
| Indian Bank | 40 |
| NABARD | 90 |
| Punjab National Bank | 15 |
| Indian Overseas Bank | 4 |
| IDBI Bank | 50 |
| LIC | 22 |
| New India Assurance | 93 |
The number of expected job creations is given below.
| Institution | Jobs Created |
|---|---|
| Andhra Pradesh Gramin Bank | 1,000 |
| Central Bank of India | 300 |
| AP Cooperative Bank Limited | 400 |
| Bank of India | 200 |
| Canara Bank | 300 |
| State Bank of India | 2,000 |
| Union Bank of India | 160 |
| Bank of Baroda | 300 |
| Indian Bank | 105 |
| NABARD | 160 |
| Punjab National Bank | 150 |
| Indian Overseas Bank | 65 |
| IDBI Bank | 215 |
| LIC | 1,036 |
| New India Assurance | 150 |
Speaking at the event, State Finance and Legislative Affairs Minister Payyavula Keshav said, “Sitharaman has come to the capital to bring the country’s financial hub from Mumbai to Amaravati.” He thanked the Central Government for supporting the development of the state, which he said is currently in the ICU.
He added that Sitharaman expects proper homework and solutions for every problem. He also said that working with Chief Minister Chandrababu Naidu is challenging and praised Lokesh for his discipline and hard work.
