Yes Bank Crisis: Lord Jagannath temple's 592 crores stuck in Yes Bank
Yes Bank Crisis: Lord Jagannath temple's 592 crores stuck in Yes Bank
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Bhubaneswar: Priests and devotees of Lord Jagannath Temple are worried due to the crisis at Yes Bank. The temple has a deposit of more than 592 crores in the bank. The Reserve Bank of India (RBI) has imposed many types of restrictions on Yes Bank, which is in crisis. Under this, account holders will no longer be able to withdraw more than Rs 50 thousand from Yes Bank. This withdrawal limit will be effective till 3 April 2020.

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RBI has appointed Prashant Kumar, the former DMD, and CFO of SBI, for a month, while stalling the rights of the board of directors of Yes Bank. The bank has already given Rs 52 crore in two phases. Of these, the bank had returned 18 crores in the first phase and 34 crores in the second phase. To repay the remaining amount, the bank had asked to pay Rs 371 crore to Sri Mandir administration on March 18, Rs 33 crore on March 25, Rs 123 crore on March 28.

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In view of the increasing concern of devotees, the State Law Minister Pratap Jena said that the money has been kept in the bank as a fixed deposit, it has not been deposited in the savings account. He said that the government has already decided to transfer this money from Yes Bank to a nationalized bank. The period of this fixed deposit is ending this month.

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