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Pradeep Pattanayak

The Union Bank of India (UBI) has been awarded the tender to have Srimandir’s fund as a fixed deposit at an interest rate of 5.21 per cent. 

Ajay Kumar Jena, Administrator (development) of the Shree Jagannath Temple Administration (SJTA) informed this on Wednesday. 

The decision was taken on the basis of a tender process where UBI emerged as the top bidder promising a 5.21 per cent interest rate in comparison to other participants. 

“The SJTA has decided to deposit the temple fund of Rs 115 crore with the Union Bank of India as it won the bid,” informed Jena. 

“Earlier quotations were invited from various public sector banks. In the bidding held at the SJTA office on Wednesday, eight public sector banks took part,” Jena said. 

“Initially, the UBI had quoted 5.17 per cent. Thereafter, a contest was witnessed between the State Bank of India and UBI. Finally, it was UBI that won the tender,” Jena added. 

Besides the general managers of the eight banks, the members of the Jagannath Temple Managing Committee were also present in the SJTA office during the bidding process. The bidding was held under the chairmanship of Jena. 

Notably, Srimandir’s fund had been with the SBI at a three percent interest rate. So with a view to get more interest, this year for the first time the SJTA had floated tenders to keep its fund as fixed deposit. 

For the deposit of Srimandir’s temple fund and corpus fund amounting to Rs 580 crore, bidding will be held on March 30. 

The members of the Jagannath Temple Managing Committee demanded opening of the four gates of the Srimandir ahead of Chandan Yatra as a congregation of lakhs of devotees is expected. 

They also demanded that the chariot construction and darshan of deities should be streamlined.

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