SBI Supports Pals Global Toy Park
State Bank of India (SBI) has extended in-principle support to the Pals Global Toy Park project at Nakkapalli in Andhra Pradesh and has initiated the appraisal process for project financing. The move marks a major milestone for the flagship industrial initiative, which aims to establish one of India's largest integrated toy manufacturing ecosystems.
Pals Global Toy Park President Ajay Sinha welcomed SBI's decision, saying it reflects the bank's confidence in the project's long-term vision. He thanked Chief Minister N. Chandrababu Naidu, Home Minister Vangalapudi Anitha, Industries Secretary Yuvaraj, Anakapalli District Collector Vaijaya Krishnan, APIIC Managing Director Dinesh Kumar, and the Andhra Pradesh government for their continued support.
The project is expected to attract domestic and international toy manufacturers while creating a complete value chain for design, manufacturing, packaging, logistics, and exports. It also aims to generate thousands of jobs, particularly for rural women and youth, and promote inclusive economic growth across North Andhra.
During a recent site visit, SBI General Manager Jitendra Kumar and AGM Sridhar reviewed the project and interacted with local residents. SBI is also exploring the establishment of a full-fledged branch and a satellite ATM at the Toy Park to provide banking services to employees, MSMEs, entrepreneurs, self-help groups, and nearby villages.
