Cash flow in Tirumala temple hundi not hit by demonetisation

Demonetisation has not affected the flow of cash, gold and silver offerings at the hundi of the famous hill shrine of Lord Venkateswara, at Tirumala in Tirupati, a senior temple official said on Saturday.

"The annual cash offerings from the hundi alone is about Rs 1,000 crore. The hundi continues to get an average of rupees three crore daily in cash, besides offerings in gold and silver, from thousands of devotees across the country, who are undeterred by demonetisation," temple Public Relations Officer Talari Ravi said.

In just 10 days, commencing from November 9, an amount of Rs 30.36 crore was received in the hundi, a figure which was Rs 8 crore more than the same period last year, he said.

"An amount of Rs 3.53 crore was the highest offering made in the hundi on November 17 while the lowest was Rs 2.28 crore on November 10," he added.

Ravi said that interestingly, even the new Rs 2,000 and Rs 500 currency notes have been made as offerings by devotees in the hundi.

On November 8, Prime Minister Narendra Modi had announced demonetisation of Rs 1,000 and Rs 500 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

In his televised address to the nation, Modi had said people holding these notes can deposit them in their banks and post office accounts from November 10 till December 30.

Ravi said that in 2012 on the auspicious 'Sri Rama Navami' day, the hundi had received the biggest single day's cash offerings of Rs 5.73 crore.

It was the highest collection ever in the hill shrine's history, besides other precious offerings, he added.

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