TTD Key Decision: Deposits In Nationalized Banks Only

TIRUMALA: Tirumala Tirupathi Devasthanams (TTD) board has taken a key decision to deposit the funds only in nationalised banks.The prior practise of  depositing funds in private banks will be stopped henceforth.

Even though private banks offer high interest when compared to national banks, for security reasons TTD prefers to deposit the funds in national banks and to avoid controversies, which were created during TDP's regime.

TTD has taken this decision, as there are security issues with private banks. During the regime of former chief minister of Andhra Pradesh N Chandrababu Naidu, the government had deposited Rs 1400 Crore in a private bank, on which devotees raised objections and filed petitions in the High Court.

The HC directed that the deposits should be made only in national banks. Based upon this, the TTD has taken the decision of depositing the funds only in national banks.TTD has announced that the deposit amount of Rs 1500 Crore will be deposited in national banks.

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