YES Bank transfers Puri Jagannath Temple's Rs 389-cr FD account to SBI

In the letter addressed to Chief Administrator of the temple shrine, Yes Bank said it has two more FDs of Rs 156 crore which will be transferred by the end of this month.

Yes Bank on Thursday said it has transferred a Rs 389-crore fixed deposit account of Shree Jagannath Temple Administration, Puri, to State Bank of India.

The fixed deposit (FD) account of the temple has accrued a total interest of Rs 8.23 crore.

"As per the term of condition of FD placed with us, Yes Bank Ltd has fully paid all the quarterly interest on time up to December 31, 2019. The remaining interest that has accrued till March 19, 2020, has been remitted along with the principal amount of Rs 389 crore to SBI account of Jagannath Temple Corpus Fund," Yes Bank on Thursday said in a letter, accessed by PTI.

In the letter addressed to Chief Administrator Krishan Kumar of the famous temple shrine in eastern India, Yes Bank said it has two more FDs of Rs 156 crore which will be transferred by the end of this month.

These FDs of Rs 156 crore are also under no-premat option which does not allow the bank to pay prematurely, the letter said.

"As the extended guidelines of the regulator, we shall remit the principal amount of Rs 156 crore and interest up to date on the date of maturity that is March 30, 2020, to the designated account of Jagannath Temple Corpus Fund...to SBI Main Branch Puri," Yes Bank said in the letter undersigned by its Senior Vice-President Jaydev Das.

Yes Bank resumed its full banking services from Wednesday evening and customers started visiting the branches from the morning of Thursday.