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Shirdi Temple Trust Seeks RBI Intervention; Know Why?

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Shirdi Temple Trust Seeks RBI Intervention; Know Why?

by OB Bureau
April 21, 2023
in India
Reading Time: 2 mins read
Shirdi Temple Trust Seeks RBI Intervention; Know Why?
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New Delhi: The Shri Saibaba Sansthan Trust (SSST) of the famous Shirdi Temple is facing a peculiar problem. State-owned banks where the temple trust holds accounts have refused to take coins from the trust as it has run out of space to keep them, according to a Times of India report.

The Shri Saibaba Trust reportedly hold accounts in 13 different state-owned branches. While most of them are in Shirdi only, one branch is in Nashik. Out of these 13 banks, four state-owned banks have now refused to take any more coins, which are received as donations, due to the problem of space. The Shirdi Saibaba Trust reportedly receives lakhs of rupees in donations in the form of coins.

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Currently, the Trust has some Rs 11 crores deposited in various banks in the form of coins, the report added.

Meanwhile, the Trust has written to the Reserve Bank of India seeking intervention as a huge chunk of the donation in the Temple is in coins. “Officials of these four banks said they have no space to keep the coins they get every day. This is a big problem for the trust,”  Rahul Jadhav, the CEO of the trust told TOI.

“Simultaneously, we have decided to approach banks in other parts of Ahmednagar district, as well as the state, to help us. We will open accounts of the trust in such banks so that coins can be deposited there,” he was quoted as saying.

The monthly collection in the form of coins – from 50 paise to Rs 10 denomination – is close to Rs 28 lakh at the Shirdi Saibaba Temple.

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