SJTA Cancels Tenders Of 16 Banks For Depositing Jagannath Temple Funds

Puri: In a sudden move, the Shree Jagannath Temple Administration (SJTA) cancelled the tenders of 16 public sector banks for depositing the corpus and temple funds of Lord Jagannath and invited fresh quotations for one-year fixed deposit from them.

In a letter to the 16 public sector banks, Development Administrator (Unnayan Prasasak) Ajay Kumar Jena said that the SJTA has invited fresh quotations to keep the corpus fund and the temple fund in fixed deposits for one year.

The banks are (State Bank of India (SBI), Canara Bank, Bank of Baroda (BoB), Union Bank of India (UBI), Bank of India, Andhra Bank, UCO Bank, Punjab National Bank (PNB), Allahabad Bank, United Bank of India, Indian Overseas Bank, Central Bank of India, OBC, Indian Bank, Syndicate Bank and Corporation Bank, Puri).

These banks have been asked to submit their quotations in a sealed cover by 11 am on or before March 26. The tender process will be finalized the same day (March 26) at 11.15 am.

The concerned banks may attend the meeting and take part in the negotiation process if any, the letter said, adding that the SJTA reserved the right to cancel all or any quotations without assigning any reason thereof.

The SJTA had received the quotations from the aforesaid banks on March 18.

While the SJTA is yet to state the reason for cancellation of the tenders, reliable sources said that the banks had offered the rate of interest for three-year fixed deposit of the temple funds. Though the SJTA had accepted the quotation of the Union Bank of India (UBI) as it had offered the highest annual rate of interest at 5.75 per cent, it later reversed its decision after coming to know that the rate of interest is higher for one-year fixed deposit.

Notably, the YES Bank on March 19 had remitted the temple corpus fund amounting to Rs 397,23,27,636 to the SBI account of the temple, which included the principal amount of Rs 389 crore and the interest amount of Rs 8.23 crore.

Of the total fund remitted, foundation fund of the temple to the tune of Rs 102 crore has been deposited in the SBI account while the remaining amount would be deposited in other public sector banks, the sources added.