Amid Yes Bank crisis Jagannath Temple administration to withdraw fix deposits after maturity

Odisha Minister Pratap Jena on Friday informed that the Jagannath Temple administration will withdraw the temple's fix deposits from Yes Bank after maturity and will put it in a nationalised bank.

When asked about reports of Rs 592 crore deposit of Jagannath Temple in Yes Bank, Jena said, "Fix deposits of the temple in the bank will mature on March 16 and 29. After that, temple administration will withdraw money and put it in a nationalised bank. Bar on money withdrawal is for saving accounts only."

On Thursday, the RBI said a moratorium has been imposed on Yes Bank, stressing that the bank's financial capability has undergone a steady decline largely due to the inability of the bank to raise capital.

During the period of moratorium, the Yes Bank Ltd will not, without the permission in writing of the Reserve Bank of India, make in the aggregate, payment to a depositor of a sum exceeding Rs 50,000 lying to his credit in any savings, current or any other deposit account.

(ANI)

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