From Our Correspondent
Vijayawada: In a major boost to the development of Amaravati Capital City, the Reserve Bank of India (RBI) has signed an agreement with the Andhra Pradesh Capital Region Development Authority (APCRDA) to establish a new regional office in the state capital.
The RBI has purchased three acres of land in Nelapadu village from the state government for ₹12 crore. The new facility will be developed over 1.6 lakh square feet, with an overall investment exceeding ₹200 crore, strengthening the central bank’s operational capabilities and financial services outreach in the region.
The agreement was formalized in Vijayawada in the presence of Smt. Roopa V.C., Assistant General Manager, RBI, and Sri David Raju, Joint Director (Estates), APCRDA, who exchanged documents on behalf of their respective institutions.
Officials described the move as a reflection of growing institutional confidence in Amaravati’s planned development and strategic potential.
The establishment of the RBI’s regional office is expected to enhance the financial ecosystem of Andhra Pradesh and serve as a key anchor for further economic activity in the emerging capital region.