Puri: With Union Bank of India offering to pay the highest rate of interest at 5.75% on a three-year term deposit, the Shree Jagannath Temple Administration (SJTA) today decided to park both Shree Jagannath Temple fund and corpus fund of the shrine in the bank, informed SJTA Administrator(Development), Ajay Kumar Jena here today.
Union Bank of India was chosen following a bidding process in which the former offered 5.75% as compared to an offer of 5.40% by Indian Bank and 5.00% by Canara Bank, Jena clarified.
Since the Indian Bank and Canara Bank did not agree to pay the rate of interest offered by Union Bank of India, the entire fund of about Rs 352 crore will be deposited in the latter, he added.
On the other hand, Union Bank of India’s General Manager Prasant Senapati has expressed his happiness over winning the bid to keep Lord Jagannath’s funds.
