Demonetization Headache for Tirumala Venkanna

Lord Venkateswara Swamy in Tirumala is also suffering from Demonetization woes. Even though the old 500 and 1000 Notes are not legal tenders after December 30th, 2016, Devotees continue to put them in Sri Vari Hundi. In the month of January, more than 4 Crore worth Old Currency is deposited in Hundis.

[m9ad]

Banks are not accepting these cash. Tirumala Tirupati Devasthanam (TTD) recently wrote to RBI to accept this cash but then there is no response from there. Lok Sabha had passed a bill saying that these Old Currency Notes are no longer the legal tender and with that, TTD’s hopes are almost dashed.

On the other side, TTD officials are expecting that the Old Currency Notes will continue to come into Hundis at least for the next couple of months. But then this cash is as good as mere papers for the Lord as no one will accept them as Legal Tenders.