Tirumala temple officials informs RBI about 4 Crore of notes in old currency

By : 03-Mar-2017
Tirupati Temple Accumulates 4 Crore Scrapped Notes

TIRUPATI:  The Tirumala Temple has toiled into a tricky situation as a result of the colossal donations that had been recorded with a surplus of 4 crore in banned notes. Post deadline period of the note exchange, Tirumala Temple administration had rushed a letter to Reserve Bank of India to intimate about the issue and seek providential assistance.

The shrine of Lord Venkateswara which is situated in the hills of Tirupati, Andhra Pradesh nets more than Rs. 1,000 crore in its hundi annually.

On Thursday, the cash-rich temple administration had approached the RBI at a sensitive time when the government had strictly notified about any exchanges of more than 10 scrapped notes will be considered as a punishable offense and is entitled to attract a minimum penalty of Rs. 10,000.

D Sambasiva Rao, the Executive Administration Officer of the Tirumala Tirupati Devasthanams (TTD) had shared the information about the devotees and pilgrims who are involved in the common practice of offering massive cash besides the valuable articles of gold and silver before the divine deity.

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