Amaravati, the capital of Andhra Pradesh, is not just an administrative center, but also a financial and commercial center. In the grand plan laid by Chief Minister Chandrababu Naidu to build a world-class city, the wonderful idea of establishing the banking sector, the backbone of the economy, in a single center and in a coordinated manner is being unveiled on the 28th of this month.
Laying the foundation stone for the state headquarters of 12 national level banks on one place and on one platform on a single day will be a historic event in the history of the country. This ‘banking district’ is going to be built on the N-10 highway near Uddandarayunipalem.
Union Finance Minister Nirmala Sitharaman will lay foundation stone for all these bank buildings. Chief Minister Chandrababu Naidu and RBI Governor Sanjay Malhotra will also attend this program. The AP government has allocated special places for these banks at Uddandarayunipalem in the capital area. This project is considered a key step towards making Amaravati a leading financial hub in the country.
The list of these banks includes State Bank of India (SBI), Canara Bank, Union Bank of India, Bank of Baroda, Indian Bank, Andhra Pradesh State Cooperative Bank, Punjab National Bank (PNB), Bank of India, Central Bank of India, etc. The establishment of the headquarters of these banks will greatly increase economic activities in Amaravati. Thousands of job opportunities will be created in the banking, finance and investment sectors.
Moreover, officials estimate that this development will further strengthen the business environment in the capital region. According to government sources, this project has been formulated with the aim of transforming Amaravati into a financial hub with international standards. The headquarters of the banks will be built with world-class infrastructure, modern office complexes and green architecture.
CM Chandrababu Naidu claims that this program will lead to the economic revival of Andhra Pradesh. “Our goal is to transform Amaravati into a financial city and an investment hub,” he clarified. This foundation stone laying ceremony will mark another important milestone in the state’s development journey.
Some of these bank headquarters will be 14 stories high and spread over 100,000 square feet. This is not a simple building; it is a solid foundation for the state’s economic self-reliance. Famous centers like the Marina Bay Financial Center (MBFC) in Singapore or Canary Wharf in London have grown into the world’s largest economies by bringing together banks and financial institutions. However, even in these global cities, it took decades for construction coordination to take place.