Odisha Fin Min Clears Air over Deposit of Lord Jagannath’s Funds in Yes Bank
Bhubaneswar: Amid uproar deposit of Shree Jagannath Temple’s funds in the cash strapped Yes Bank, Odisha Finance Minister Niranjan Pujari on Thursday said funds were kept in Yes Bank as it offered the highest rate of interest of 8.61 percent. The Shree Jagannath Temple Administration (SJTA) had invited quotations from scheduled commercial banks for depositing [...]
Bhubaneswar: Amid uproar deposit of Shree Jagannath Temple’s funds in the cash strapped Yes Bank, Odisha Finance Minister Niranjan Pujari on Thursday said funds were kept in Yes Bank as it offered the highest rate of interest of 8.61 percent.
The Shree Jagannath Temple Administration (SJTA) had invited quotations from scheduled commercial banks for depositing the money and 12 banks had submitted their proposals in this regard.
Yes Bank offered the highest rate of interest, for which the funds were parked in the bank, the minister added.
The Finance Minister further said that he has written to Union Finance Minister Nirmala Sitharaman requesting her to issue necessary instruction to the Reserve Bank of India to allow release of deposits to SJTA in Yes Bank.
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