Foundation Stone Laid for 25 Banking Institutions in Amaravati — A New Financial Era Begins

In a landmark move to reshape Amaravati’s financial landscape, Nirmala Sitharaman laid the foundation stone on Friday for 25 nationalised banks and public-sector financial institutions. The ceremony was attended by senior state leadership, including N. Chandrababu Naidu, Pawan Kalyan, and other cabinet members, underlining the government’s commitment to transforming Amaravati into a major financial hub.

Held at the newly allotted CRDA project office near the Seed Access Road, the occasion drew a large crowd farmers, agricultural labourers, women and local residents from across Andhra Pradesh signalling strong community interest and participation. The event marks the first tangible step in establishing Amaravati as a key centre for banking, insurance, and public-sector financial services.

Officials say this initiative will serve as the backbone of a broader plan to develop a full-fledged financial district in Amaravati. The upcoming district will host bank headquarters, allied institutions, and support infrastructure, giving citizens easier access to financial services and strengthening administrative systems.

With this bold move, the Andhra Pradesh administration aims to promote economic activity, create employment, and accelerate regional growth an ambitious vision that could redefine Amaravati’s place on India’s financial map.

With the foundation work now underway, attention shifts to how quickly the infrastructure develops, when operations begin, and how this new banking ecosystem transforms the region’s economy.