Tirumala temple has Rs 50cr worth old banned Rs 500, Rs 1,000 notes!

Strange it may sound, but the world famous Tirumala Tirupati temple is still in posession of old Rs 500 and Rs 1,000 notes that were demonetised and banned more than 3 years and 7 months ago in November 2016 by the Centre.

Though these notes were banned, devotees continue to drop these old notes in the temple 'Hundi'.

TTD trust board chairman YV Subba Reddy on Monday, July 13, 2020 met union finance minister Nirmala Sitharaman in New Delhi on requested her to exchange these banned notes with new notes.

Subba Reddy told Nirmala that TTD had suffered hundreds of crores of losses due to closure of temple for three months from March due to corona lockdown restrictions and in this backdrop he urged her to come to the rescue of TTD by exchanging these Rs 50 crore banned notes.

He said if Centre exchages these banned notes with new ones, it will help TTD to cover up some part of its financial losses.

However, Nirmala remained 'non committal' and only assured that she will look into the issue.