Jagannath Temple funds in YES Bank

On Friday, the Odisha government was forced to issue a clarification after it was cornered by leaders of its own party and that of the Opposition with concerns over the temple’s funds.

  • 7th Mar 2020

A political storm broke out in the temple town of Puri on Friday a day after the Reserve Bank of India (RBI) superseded the board of directors of troubled Yes Bank for 30 days and capped deposit withdrawals at Rs 50,000 per depositor. According to sources in the temple administration, the temple has funds amounting to Rs 545 crore in fixed deposits and Rs 47 crore in Flexi deposits in the bank.

On Friday, the Odisha government was forced to issue a clarification after it was cornered by leaders of its own party and that of the Opposition with concerns over the temple’s funds.

The issue also divided the ruling BJD, with former Puri MLA Maheswar Mohanty saying, “the temple administration should immediately recover the money”.

When asked by journalists if the decision to deposit the funds in the bank was correct, he said, “(Choosing a private bank) was not the right way to do it, though they were saying that they made the deposit to earn higher interest.”

Opposition leaders also expressed their outrage. Congress leader Sura Routray said, “Don’t play with Jagannath’s money. Naveen Babu (Odisha Chief Minister Naveen Patnaik), you will not able to handle the protests (if the money is lost).”

BJP leader Bhrugu Buxipatra said, “State government should immediately approach RBI and the Centre. They have no right to forfeit Jagannath’s money, which belongs to the people of the state.”

Law Minister Pratap Jena said there was no reason to worry. “The money will not be lost. We have spoken with the managing trustee of the Temple administration. We have decided to transfer the deposit to a nationalized bank,” he said.

To know more visit:
https://indianexpress.com/article/india/odisha-government-under-fire-for-depositing-jagannath-temple-funds-in-yes-bank-6303208/

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