Odisha Urges Sitharaman For Release Of Rs 545 Cr Jagannath Temple Funds In Yes Bank

Bhubaneswar: Odisha Finance Minister Niranjan Pujari has urged Union Finance Minister Nirmala Sitharaman to issue necessary instruction to the Reserve Bank of India (RBI) to allow release of Rs 545 crore deposited by Shree Jagannath Temple Administration (SJTA), Puri, in Yes Bank.

Since the RBI imposed a moratorium on the capital-starved Yes Bank and capped withdrawals at Rs 50,000 on Thursday, the Opposition BJP and Congress have been baying for the state government’s blood over its decision to park the huge sum of money in a private bank instead of a nationalised bank. The RBI decision, they argued, had now led to uncertainty over temple deposits.

In a letter to the Union Minister, Pujari on Saturday said Rs 545 crore deposited with Yes Bank in shape of TDRs (fixed deposits) are maturing in March 2020.

However, the state may not be able to withdraw the amount considering the restrictions imposed by RBI on withdrawal of funds from the bank.

Stating that it involved the interests of millions of Jagannath devotees, Pujari requested Sitharaman to instruct RBI to allow release of the funds.

“It is pertinent to mention here that SJTA is a statutory authority working under provisions of an Act of the State. This is an issue of religious importance for devotees of Lord Jagannath,” he added.

Earlier, Law Minister Pratap Jena had rubbished fears over the Jagannath temple fund parked in the crisis-ridden Yes Bank, asserting that the money was safe and the RBI restrictions on withdrawals did not affect SJTA’s claim on fixed deposits. The deposits can be withdrawn when they mature on March 19, 23 and 29, the minister said.