RBI to develop its own office space in Goa’s Patto Plaza in 3 years

21 Feb 2022 CW Team

The Reserve Bank of India (RBI) has begun the process to develop dedicated office space in Goa, with RBI governor Shaktikanta Das laying the foundation stone for a new building that will be set up on a 2,020 sq m plot at Patto Plaza.

The RBI building is likely to be achieved in three years and could be designed according to the Indian Green Building Council (IGBC) standards, officials told the media. The RBI’s Goa office presently works from rented premises in a privately-held building at Patto.

The challenges that lie ahead are the timely development of the office building while at the same time, the construction should be environment-friendly and energy-efficient, without compromising on the quality and structural soundness, said Das, who was in Goa for a short visit to lay the foundation stone.

The Economic Development Corporation (EDC), the state-run non-banking finance firm, assigned the plot to the RBI for Rs 30.3 crore, excluding Goods and Services Tax (GST) and stamp duty. The plot near the LIC divisional office was originally sold to Air India but was never used. The EDC has allocated the plot on a long lease to the RBI and the possession continues to remain with the EDC. The RBI will additionally pay the EDC a yearly rent for the plot.

Speaking at the event, Das told the media that despite the difficulties posed by the Covid pandemic, the RBI has pro-actively worked to provide stability to the economy and the banking system by taking up various conventional and unconventional steps. RBI officials told the media that the construction agreement for the office building has been given to the Central Public Works Department (CPWD) and that the building will have an “iconic” design.

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Also read: RBI to hold lending rate steady at 4% to aid economic recovery

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