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The memorial, built on his mortal remains as per his religious customs, was inaugurated by Mangaluru Bishop Peter Paul Saldanha.
Speaking after blessing the memorial, Saldanha said the late leader always stood for the working class and fulfilled their dreams.
A son of Mangaluru, he moved to Mumbai and then to the national capital to work for different sections of people in the country, the bishop said.
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He knew the power of democracy and the pulse of the people, thereby earning powerful positions at the Centre.
Fernandes brother Micheal Fernandes, who also spoke, thanked the church and all others for erecting the memorial and urged the people to carry the late leaders work forward.
Church officials, former MLA J R Lobo and corporators were among those present on the occasion.
Fernandes, who was born in Bejai in 1930, had an eventful career in national politics spanning decades.
He was elected to the Lok Sabha nine times and once to the Rajya Sabha.
He died of Alzheimer’s disease in 2019.