BREAKING NEWS

RBI to set up office in Andhra after clarity over state capital

The Reserve Bank of India (RBI) has said that it will pursue the matter relating to setting up its office in Andhra Pradesh only after the state government finalises the location for state capital.

The RBI conveyed this in response to the request for establishing an office in Andhra Pradesh following division of the combined RBI office in Hyderabad in the wake of bifurcation of undivided Andhra Pradesh to create Telangana state.

RBI Deputy General Manager M.K. Subhashree wrote to Amaravati Development Authority Chairman Jasti Veeranjaneyulu that the matter related to opening of RBI office at the newly formed Andhra Pradesh state can be pursued only after the state government finalises the location for its capital city.

The RBI official conveyed this in response to a letter by ADA Chairman seeking immediate steps to set up the RBI office.

Referring to ADA Chairman's gr