Tirupati, December 21: Scrapped notes of Rs.1,000 and Rs.500 have become a problem not just for people but also for Tirumala temple.
With the latest guidelines from the Reserve Bank of India (RBI), the banks are not accepting old notes even from Tirumala Tirupati Devasthanam (TTD).
The temple authorities tried to deposit Rs.90 lakh in demonetized high value notes in the banks on Wednesday but the banks refused to accept them in view of the new guidelines from RBI.
This amount was dropped in temple ‘hundi’ by the devotees. The total ‘hundi’ collection on Tuesday was Rs.2.47 crore including Rs.90 lakh in scrapped notes.
Since demonetization of high value notes on November 8, the TTD had been depositing these notes in its accounts in State Bank of India or Andhra Bank. Officials said till now there was no restriction on the amount being deposited by temples.
However, according to the RBI’s new guidelines announced on Monday, deposits of over Rs.5,000 in old notes can be made only once during the remaining period till December 31.
The TTD officials kept the old notes with themselves, waiting for some relaxation from authorities. With nearly 10 days to go, the TTD expects more demonetized notes in ‘hundi’.