Puri: Jaganath Temple’s Rs 287 crore fund would be parked in two public sector banks.
Union Bank and Bank of Baroda have won the bidding the offers of which was opened on Thursday. There were 10 bankers who participated in bidding.
Union Bank emerged as top bidder offering 6.26% interest per annum. Bank of Baroda had finished second with an interest offer of 6.15%. However, on negotiation, the Bank of Baroda matched the highest offer of 6.26% and stake a claim on the fund.
Temple Administrator Development Ajaya Jena has said that the Rs 286 crore would divided at the ratio of 50:50 and be parked in one year fixed deposits in the two banks for one year. He said that the Rs 286 crore is Temple Corpus Fund a d Temple Fund. Temple Foundation Fund of Rs120 crore has been deposited in State Bank of India.
Recently, the Puri Jaganath Temple administration had got back it fixed deposit money from beleaguered Yes Bank. Another fixed deposit in Yes Bank is maturing on March 30,2020.