Tirumala Tirupati Devasthanams (TTD), which manages the affairs of Tirumala temple, on Friday said the money was withdrawn in October and it had nothing to do with the crisis in the bank, Livemint has reported.

Tirupatui: Authorities of the Tirumala temple here withdrew ₹1,300 crore from crisis-hit Yes Bank late last year.

However, Tirumala Tirupati Devasthanams (TTD), which manages the affairs of Tirumala temple, on Friday said the money was withdrawn in October and it had nothing to do with the crisis in the bank.

The authorities gave this clarification following the moratorium imposed by the Reserve Bank of India (RBI) on withdrawals from Yes Bank till April 3.

A spokesperson of the temple body clarified that the money was withdrawn on maturity of the deposit term in October.

TTD officials said that they act as per the decisions of the board with regard to depositing money or gold in banks. They said that the board decided to deposit money only in nationalized banks in November last year.

TTD’s cash deposits in the banks crossed ₹12,000 crore in April last year. The board recently projected ₹706 crore income from interest on deposits for 2020-21.

Image source; wikipedia