Tirumala Temple Withdrew Rs 1,300 Crores From Yes Bank Months Before Its Current Crisis, Divya Drishti Says Internet

Authorities of the richest temple in Tirupati, Tirumala temple, are being praised for withdrawing Rs 1,300 crores from Yes Bank in October 2019, hence, thwarting the chances of getting its money stuck due to the current crisis.

yes bank
Source – The Economic Times

Tirumala Tirupati Devasthanams (TTD), which manages the affairs of Tirumala temple, had withdrawn the money from the bank.

Source – Wikipedia

A spokesperson of the temple body clarified that the money was withdrawn on the maturity of the deposit term in October. “We have officials who monitor deposits in banks and the maturity periods. It’s not that we suddenly withdrew the amount,” he said.

Also Read: Yes Bank Crashes 85% After RBI Takes Control, Limits Withdrawal For Account Holders

The TTD officials clarified that the board decides the matters related to the cash and gold that people donate to the Temple. TTD said that the board has last year decided to deposit the cash and gold in the nationalised banks only.

The netizens, howvere, are seeing it as divine’s intrusions. Have a look.

Also Read: Adopt India’s ‘Namaste’, PM Netanyahu Advises People Amid Coronavirus Spread

The temple body earlier deposited funds in private banks because of the higher interest rates offered by them.

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