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Lord Venkateswara Temple Has Over Rs 8 Cr Demonetised Notes in 'Hundi'

The famous hill shrine of Lord Venkateswara in Tirumala in Andhra Pradesh has received over Rs 8 crore in demonetised 500 and 1,000 rupee old notes from devotees in its 'hundi' in 2017.

Sakshi Khanna | CNN-News18

Updated:March 3, 2017, 2:41 PM IST
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Lord Venkateswara Temple Has Over Rs 8 Cr Demonetised Notes in 'Hundi'
Lord Venkateswara Temple in Tirumala in Andhra Pradesh/Getty image

Tirupati: The famous hill shrine of Lord Venkateswara in Tirumala in Andhra Pradesh has received over Rs 8 crore in demonetised 500 and 1,000 rupee old notes from devotees in its 'hundi' in 2017.

According to Tirumala Tirupati Devasthanam (TTD) - which manages the temple - in last 61 days (from December 31 to March 1) nearly Rs 8.29 crore of old 500 and 1000 notes have been collected in the Hundi.

Now, the temple management is facing problem in depositing these notes. The banks have stopped accepting demonetised currency post December 30.

TTD Executive Officer D Sambasiva Rao told CNN-News 18, "Till December 30, we have deposited all notes. But after that all old notes are being kept in treasury as banks are not accepting, saying it is invalid currency. These old notes are coming in Hundi, which we have no control and also we cannot stop anyone from depositing it."

The temple administration has even written to the government and the Reserve Bank of India (RBI) seeking a solution to the problem. They are still awaiting reply as to what they should do with demonetised currency deposited in 'Hundi'.

Every year lakhs of devotees - thronging the temple from various parts of the country - continued to offer the junked currency in the 'Hundi' along with valid notes even after the deadline for exchange of demonetised notes expired on December 30.

The 'Hundi' in the shrine annually nets more than Rs 1,000 crore besides gold and silver offerings, temple officials said.

Centre has notified a law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000.

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| Edited by: Sujit Nath
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