Yes Bank Remits Rs 160 Cr Jagannath Temple Fund To SBI

Puri: Yes Bank on Monday remitted the remaining Rs 160 crore of the Jagannath temple fund to the State Bank of India’s (SBI)s main branch here through e-transfer.

The remitted amount includes Rs 156 crore as principal and Rs 4 crore as interest.

This amount will be deposited in Bank of Baroda at 6.05% annual rate of interest, official sources said.

Notably, the Shree Jagannath Temple Administration (SJTA) had deposited Rs 592 crore temple fund in Yes Bank of which Rs 389 crore was kept in fixed deposits, while Rs 156 crore was kept in two fixed deposits. The remaining Rs 47 crore was kept in the Flexi account which was withdrawn by the SJTA later.

The total temple corpus fund amount of Rs 397,23,27,636 deposited the SBI account on March 19 include the principal amount of Rs 389 crore and the interest amount of Rs 8,23,27,636.

Of the total temple fund of Rs 389 crore, Rs 102 crore of the foundation fund has been kept in the SBI account of the temple while of the remaining Rs 287 crore corpus and temple funds, 50 per cent each has been kept in the United Bank of India (UBI) and Bank of Baroda (BoB) as fixed deposit for one year.

The total interest amount against the fixed deposit of Rs 545 crore is Rs 12,23,27,636.

It has been decided that the SJTA will invite tenders for the fixed deposit of Rs 160 crore in two public sector banks as fixed deposit for one year.