Lokesh Unveils Rs 1,334-Crore Project to Create Bank Street in Amaravati

 Vijayawada: IT and education minister Nara Lokesh has unveiled a Rs 1,334-crore project that would create a "Bank Street" in Amaravati encompassing all banking services.

The hub would generate over 7,000 jobs for youths with the hosting of institutions like SBI, Bank of Baroda, Canara Bank, PNB, NABARD, LIC, and New India Assurance there in the near future, he said.

Lokesh was speaking at Uddandarayunipalem after Union finance minister Nirmala Sitharaman laid the foundation stones on Friday for the regional headquarters of 15 national banks and insurance firms— as part of a visio to make Amaravati the nation’s first integrated Financial City.

The minister said some forces tried to destroy the "capital of the gods," Amaravati, which was built on farmers' sacrifices. But they failed to silence the Jai Amaravati slogan despite conspiracies like the three-capitals proposal.

In a direct attack on the previous government, he said it laid no bricks while spending Rs 700 crore on a chief minister's palace.

Lokesh recalled the 1,631-day Amaravati movement, where thousands of farmers, including women and elders, took to the streets carrying the Jai Amaravati banner. “Over 270 farmers lost their lives and 3,000 cases were filed against protesters. Yet, they could not suppress the spirit of Amaravati,” he said.

He praised Prime Minister Narendra Modi for supporting Amaravati’s development since the foundation stone was laid in 2015, and appreciated his approval for the release of Rs 15,000 crore for the capital’s development.

Lokesh said the project was now progressing at “jet speed” under urban development minister Ponguru Narayana’s supervision. He termed

Hailing Nirmala Sitharaman’s contributions, Lokesh described her as the epitome of women’s empowerment. He said she has set several global records by presenting eight consecutive Union Budgets and representing India among the world’s most powerful women for six consecutive years in Forbes magazine’s list.

“From starting her career at a home décor store in London to becoming India’s defence and finance minister, her journey is an inspiration. She remains humble despite her achievements and actively promotes Indian handlooms, especially Mangalagiri sarees,” Lokesh said.