[Amaravati, Andhra Pradesh, November 28, 2025] – In a historic development for the state of Andhra Pradesh, Amaravati has been officially declared India’s first Integrated Financial City.

The announcement was made today during a landmark ceremony attended by Union Finance Minister Nirmala Sitharaman and Andhra Pradesh Chief Minister N. Chandrababu Naidu. The event marked the laying of the foundation stone for the regional headquarters of 28 major financial institutions, including public sector banks, insurance companies, and regulatory bodies.

A “Historic First” for India

Speaking at the event, Finance Minister Nirmala Sitharaman described the project as a “historic first,” noting that no other state capital in India has a dedicated street housing all major public sector banks and insurance companies in one planned zone.

“This is not just an act of laying a stone; it is a statement of intent for the future of Andhra Pradesh,” she stated.

Major Investments & Infrastructure

The new financial district will serve as the economic nerve center of the state. Key highlights include:

• Participating Institutions: The State Bank of India (SBI), NABARD, LIC, Union Bank of India, Canara Bank, and the Reserve Bank of India (RBI) will establish their state-level headquarters here.
• Investment: The initial phase involves a combined investment of approximately ₹1,334 crore.
• Employment: The project is expected to generate direct employment for over 6,500 professionals, significantly boosting the local economy.

Chandrababu Naidu’s Vision Realized

For Chief Minister Chandrababu Naidu, this event marks the revival of his long-held dream for Amaravati. After years of uncertainty, the capital city project is back on track with full support from the Central Government. Naidu emphasized that the financial city would be equipped with world-class infrastructure to attract global fintech players and investors.

World Bank Support

Adding to the momentum, reports confirm that the World Bank and the Asian Development Bank (ADB) have committed to funding $1.6 billion (approx. ₹13,600 crore) for the Phase-I development of Amaravati. The first tranche of funds has already been released, accelerating construction across the capital region.

Impact on Farmers & Economy

The Finance Minister paid tribute to the farmers of the Amaravati region who voluntarily gave up their land for the capital. She urged banks to go beyond standard loans and provide comprehensive financial support to the farming community, ensuring inclusive growth as the city rises.

With this declaration, Amaravati is poised to transform from a greenfield city into a bustling economic powerhouse, setting a new benchmark for urban planning in India.