IDBI Bank to Set Up Office in Amaravati Capital Region
The project is expected to generate employment for around 200 people
VIJAYAWADA: IDBI Bank will establish a new office in the Amaravati capital region after signing a lease agreement with the Andhra Pradesh Capital Region Development Authority (APCRDA) for land at Uddandarayunipalem in Thullur mandal.
Under the agreement, the bank has been allotted 0.4 acres of land, where it will construct its office premises with an estimated investment of about ₹50 crore. The project is expected to generate employment for around 200 people.
The lease agreement was signed on Wednesday between Jubin Chiraan Roy, joint director (estates), APCRDA, and Sai R. Krishna, general manager and senior regional head of IDBI Bank Ltd. The registration was completed at the Mandadam sub-registrar office in the presence of joint registrar Ch. Rambabu.
Senior bank officials, including assistant general managers V. Pradeep and P. Shyam Sundar, were also present.
Krishna said the new office would strengthen the delivery of banking and financial services in Andhra Pradesh and improve access to modern banking facilities for individuals, businesses and institutions in the capital region.
Officials said the facility would support the growing financial needs of the region and complement the government’s efforts to attract investment and infrastructure development in Amaravati.
