SJTA Deposits Srimandir Fund Over ₹39 Cr in 2 Nationalised Banks for Better Returns

Puri: The Shree Jagannath Temple Administration (SJTA) in Puri deposited the Srimandir fund amounting to Rs 39.22 crore across two nationalized banks to secure the highest possible interest rates. This move reflects the SJTA’s commitment to financial prudence in managing the revered Shree Jagannath Temple’s resources.

Through a transparent bidding process witnessed by the Srimandir Managing Committee and financial department officials, four nationalized banks – Bank of Baroda, Canara Bank, UCO Bank, and Indian Bank – vied for the opportunity to manage the temple’s deposits.

Following a meticulous evaluation, Bank of Baroda emerged victorious with the most competitive interest rate of 7.55%, securing a deposit of Rs 3.18 crore. The remaining Rs 36.04 crore was entrusted to Canara Bank, which offered an attractive interest rate of 7.8%.

“We prioritize maximizing returns on the temple’s funds while ensuring security,” said Srimandir Development Administrator Pradeep Kumar Sahu. “This two-phase deposit strategy across multiple banks allows us to leverage the best interest rates available in the nationalized sector.”