TTD moves Union Finance Minister for monetizing demonetized currency worth Rs.49.50 crores.

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Tirupati Tirumala Devasthanams (TTD) has approached Union Finance Minister Nirmala Sitharaman with a plea for her support to monetize demonetized currency worth Rs 49.70 crore they received by way of offerings from devotees.

TTD chairman YV Subba Reddy met union minister Nirmala Sitharaman at the national capital New Delhi on Monday and placed all facts to resolve the issue dragging on for almost four years now, said a Times of India report.

In his representation handed over to the union minister, Reddy pointed out that following the government of India's demonetization announcement on 8th November, 2016, TTD had stopped collecting demonetized Rs 500 and Rs 1,000 notes at all its sale counters across India, but they had no control over the offerings.

“As we have no say on the offerings extended by the visiting devotees to the Srivari Hundi at the temple, TTD continued to receive demonetized currency even after the window period for exchanging demonetized currency notes set by the RBI ended,” he said.

Pointing out that that pilgrims consider extending offerings to the Srivari Hundi very sacred and a great deal of sentiments are attached with the whole process, he sought the intervention of the union minister to honour the offerings.

He said that banks with which TTD maintains its accounts had refused to accept demonetized currency after specific dates. "Because every devotee feels that once his donation is deposited in the Srivari Hundi, his vow is fulfilled, TTD on its part ensures every pilgrim's cash donation is deposited into the corpus in various banks, completing the whole process. But unfortunately because of the roadblock created with regards to the demonetized currency, pilgrims' sentiments are also affected", the TTD chairman was quoted by TOI as saying.

There was no indication of any promise from the finance minister on accepting the demonetized currencies. However, earlier the ministry had sent a communique to TTD earlier, to approach the Reserve Bank of India, with regards to disposal of specified bank notes as per clause 12 of the specified bank notes (cessation of liabilities) ordinance, 2016.

Image Credit: DT Next

 

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