The Shree Jagannath Temple Administration (SJTA) has decided to deposit the temple funds in nationalised Union Bank of India at an annual interest rate of 5.75%.
The Union Bank of India has been selected in a tender process. The temple and its corpus funds would be kept in the bank as fixed deposits for a period of three years at annual interest rate of 5.75%, informed SJTA Administrator (Development) Ajay Kumar Jena on Friday.
Notably, the Yes Bank returned the temple funds of Rs 389 crore with an interest of Rs 8,23,27,636 crore of the total funds amounting to Rs 545 crore in the first phase on Thursday. The remaining principal amount of Rs 156 crore would be transferred to the SBI account of Jagannath Temple Corpus Fund at Puri Main Branch after the fixed deposit matures on March 30.