Amaravati, Andhra Pradesh — In a landmark development for the cooperative banking sector, the Hon'ble Union Finance Minister Smt. Nirmala Sitharaman and the Hon'ble Chief Minister of Andhra Pradesh, Sri N. Chandrababu Naidu, jointly laid the foundation stone last week for the new Head Office of the Andhra Pradesh State Cooperative Bank (APCOB) in Amaravati.

The ceremonial event, which took place in Rayapudi village within the State capital’s designated financial hub, also included the foundation laying for 15 additional banks. This collective action highlights the State's strategic vision to develop Amaravati into a modern, integrated financial city.

The new APCOB headquarters, spanning 0.495 acres, is poised to become a central point in Amaravati’s emerging financial ecosystem, operating alongside prestigious national banks, insurance companies, and other significant financial institutions.

Hon'ble Sri Ganni Veeranjaneyulu, the Person-in-Charge of APCOB, described the occasion as a "new beginning." He underscored the strategic importance of establishing a consolidated headquarters and a dedicated training complex to significantly enhance operational efficiency, professional identity, and the standard of customer service across Andhra Pradesh.

Following the execution of a Memorandum of Understanding (MoU) with the Andhra Pradesh Industrial Infrastructure Corporation (APIIC), APCOB is now scheduled to commence detailed architectural and civil works. The development of this modern Head Office will further reinforce APCOB's critical role in cooperative banking leadership, training, and institutional development within the State. For its valuable stakeholders and customers, this event clearly signifies APCOB’s firm and lasting commitment to establishing a distinguished presence at the core of the State capital.