FM Sitharaman and CM Naidu lay foundation for new PSU bank in Amaravati

Union Finance Minister Nirmala Sitharaman and Andhra Pradesh Chief Minister Chandrababu Naidu on Friday laid the foundation stone for new offices of 15 public sector banks and insurance companies.

The projects involving financial institutions such as SBI, LIC, NABARD, and others, will see a



combined investment of Rs 1,328 crore with the potential to generate 6,541 jobs in the region.

“Amaravati, which started with scientific consultations, requires financial support, and with that objective in mind, the foundation for 15 financial institutions was laid…” Sitharaman told the gathering.