In Andhra Pradesh, Temple Trust Deposits Rupees 4,000 Crore In Two Banks

Tirupati:  The Tirumala Tirupati Devasthanams (TTD) that governs the famous hill shrine of Lord Venkateswara at Tirumala has deposited Rs 4,000 crore in two banks.

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A K Singhal, TTD Executive Officer, told reporters in Tirupati that several nationlised and private banks took part in the tender process recently, after which about Rs 3,000 crore was deposited with Andhra Bank at 7.32 per cent. Another Rs 1,000 crore was deposited with IndusInd Bank that quoted 7.66 per cent interest, he said.

Mr Singhal also denied media reports of irregularities in putting the deposits in these two banks.