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Venkateswara Devotees Offer Rs 24 Cr Scrapped Currency After Demonetisation

 Agencies |  2017-07-11 16:45:01.0  0  Comments

Venkateswara Devotees Offer Rs 24 Cr Scrapped Currency After Demonetisation

Tirupati: The world famous Venkateswara Swamy temple has received over Rs 24 crore in demonetised 500 and 1,000 notes from devotees in the srivari hundi in the last six months. The Tirumala Tirupati Devasthanams (TTD) managing Tirumala temple had earlier written to the government and the RBI on the fate of the accumulated demonetised notes. In the wake of recent Supreme Court orders, they will be writing another letter in one or two-days to RBI and the Centre about the scrapped currency offered by devotees for fulfillment of their vows, according to TTD Executive officer Anil Kumar Singhal. On July 4, the apex court granted the Centre and RBI two weeks to consider the option of granting a window to those who could not deposit their demonetised Rs 500 and Rs 1,000 currency notes for a compelling reason. The Centre had on November 8, 2016 announced that these notes would no longer be legal tender from November 9. The hundi in the shrine annually nets more than Rs 1,000 crore besides gold and silver offerings. In the recent revision of interest rates in banks on fixed deposits, TTD would lose a few hundred crores on its FDs of around Rs 10,000 crore in various nationalized banks, the EO said. The interest rates on TTD deposits would be cut from between eight and nine per cent to 4.5 per cent following the recent revision of interest rates on fixed deposits by banks, Singhal, who took charge as EO of the shrine two months ago, he added. UNI

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