Hyderabad: A wise decision made by Tirumala Tirupati Devasthanam (TTD) could have protected crores of rupees of Venkateswara Swamy. A few months ago, the TTD had withdrawn deposits worth Rs 1,300 crore from Yes Bank.
On Thursday night, the Reserve Bank of India (RBI) imposed a moratorium on the troubled bank, capping withdrawals at Rs 50,000 till April 3.
Immediately after taking charge as TTD chief, YV Subba Reddy asked temple officials to withdraw the amount from Yes Bank. The TTD funds had been deposited in four private banks, including Yes Bank, when N Chandrabau Naidu-led Telugu Desam Party (TDP) was in power.
Reddy analysed the financial position of the private banks and instructed officials to withdraw from Yes Bank. Despite pressure against withdrawing the deposits, Reddy brought the issue to the notice of Chief Minister YS Jagan Mohan Reddy and went ahead with the withdrawals.
While Tirumala was lucky, the shrine dedicated to Lord Jagannath in Odisha's Puri not so much. Devotees and priests at the centuries-old temple in Puri are worried following RBI restrictions on Yes Bank where Rs 545 crore is deposited in the deity's name.
The RBI restrictions have caused panic among devotees, said senior 'Daitapati' (servitor) Binayak Dasmohaopatra.
"We demand a thorough probe and action against the persons responsible for depositing such a huge amount in a private bank for a little more interest," he said.
"It is illegal as well as unethical to deposit the lord's funds in a private bank. Shree Jagannath Temple Administration (SJTA) and the Temple's Managing Committee should be held responsible for the uncertainty," said Jagannath Sena convenor Priyadarshi Patnaik.
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