The famed Jagannath Temple in Puri has a deposit worth over Rs 592 crore in crisis-ridden Yes Bank, whose board on Friday was superseded by the Reserve Bank of India (RBI). Further, the apex bank’s decision to impose a moratorium of Rs 50,000 on the withdrawal limit, which has worried the administration of the Odisha temple.
English daily The New Indian Express reported on Friday that the temple administration before the crisis surfaced in public yesterday, resolved in a management committee meeting that the deposit would be transferred to a nationalised bank.
Heeding to the temple's demand, Yes Bank replied in a letter that it would allow withdrawing of the Rs 592 crore worth of funds in three phases this month- March 19, March 23 and March 29.
However, the developments on Friday have put a question mark on the earlier commitment made in the letter to the temple.
The New Indian Express report quoted Ramchandra Das Mahapatra, a temple managing body members saying that the temple was doubtful about the security of temple funds in YES Bank.
"Wrong decision" to keep funds in Yes Bank
Former Puri legislator Maheswar Mohanty lashed out at Jagannath Temple's former temple administrator for keeping the deposit in Yes Bank, which was done in a bid to accrue more interest. Talking to media persons, Mohanty called upon the temple administration to demand an urgent meeting with the Reserve Bank of India.
Mohanty's concerns were echoed by Bharatiya Janata Party (BJP) leader Bhrugu Buxipatra, who said that the step government must step in to salvage the temple funds.
Also read: Yes Bank crisis: Despite Sitharaman’s assurance, depositors flood branches; long queues at ATMs
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