Concern over Jagannath Temple’s deposits in Yes Bank

Imposition of restriction on withdrawal of money from Yes Bank has sent political parties into a tizzy in Odisha as ₹545 crore belonging to Shree Jagannath Temple is deposited in the bank.

The two fixed deposits were to mature this month. However, the Reserve Bank of India cracked the whip on Yes Bank for its terrible financial position and serious governance issues.

All funds of the temple were parked in Yes Bank as the bank had then offered higher interest rate compared to other banks. The temple administration had, however, withdrawn a separate flexi deposit of ₹47 crore from Yes Bank.

The Shree Jagannath Temple managing committee at the last meeting on February 5 had taken a decision to transfer the fixed deposits from Yes Bank to any public sector banks through a tendering process on March 30.

Senior BJD leader and former Puri legislator Maheswar Mohanty said, “The temple administration should immediately consult RBI. It was a wrong decision to keep such a huge amount in Yes Bank in greed of higher interest rate.”

“The government must immediately take steps to transfer the fixed deposits to other public sector bank,” said senior Congress MLA Suresh Routray. A State BJP spokesperson said the government had no right to manage funds of Lord Jagannath so badly.

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Printable version | Dec 3, 2020 11:57:14 PM | https://www.thehindu.com/news/cities/kolkata/concern-over-jagannath-temples-deposits-in-yes-bank/article31005064.ece

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