Yes Bank remits one more fixed deposit of Srimandir

Puri: The cash-strapped Yes Bank has remitted remaining funds of Srimandir after one more fixed deposit matured today.

The remaining funds amounting to Rs 160 crore (Principal deposit of Rs 156 crore and Rs 4 crore interest) was transferred to the designated State Bank of India (SBI) account of Jagannath Temple Corpus Fund at Puri Main Branch.

Earlier on March 19, Yes Bank had remitted Rs 397 crore (Principal amount Rs 389 crore and interest Rs 8,23,27,636 crore) to SBI Main Branch in Puri of total funds of Rs 545 crore of Lord Jagannath.

Notably, Shree Jagannath Temple Administration had faced wrath from various quarters over Lord Jagannath’s funds parked in Yes Bank after the private bank was placed under moratorium by Reserve Bank of India (RBI).

However, the RBI had assured that Srimandir’s money deposited in Yes Bank was safe.

“We would like to point out that the Reserve Bank has adequate powers to regulate and supervise the Private Sector Banks and by using these powers it has ensured that the depositors’ money is entirely safe,” the RBI Deputy Governor NS Vishwanathan had told Odisha Chief Secretary Asit Tripathy in a letter this month.

In process to the transfer the funds, the first fixed deposit (FD) amount of Srimandir was transferred along with interest a day after the moratorium imposed on Yes Bank was lifted on March 18.