RBI resolves coin crisis at Shirdi Sai temple

Nashik: Reserve Bank of India (RBI) has re- solved the coin crisis at Shri Sai baba Sansthan Trust (SSST), Shirdi, sources in the country’s central bank have confirmed.

Lakhs of rupees are donated at the Shirdi Sahibabad temple in coins every day. The Trust was facing a serious problem as the banks were struggling to accommodate the coins deposited by them. The Trust has ac- counts in 13 state-owned banks. Four out of the 13 banks had stopped collecting donations from the Sans than due to space crunch.

Under such circumstances, a senior official of RBI’s Belapur office in Navi Mumbai on April 26 held a meeting with the Trust and representatives of the banks where the donation money was deposited.

“RBI has instructed the bank officials to immediately divert the accumulated coins from their respective branches to the designated currency chests in Ahmednagar or neighbouring districts. This will create space in the banks, so that fresh collection of coins from the temple can be kept there,” a source in RBI on Friday.

RBI resolves coin crisis at
RBI resolves coin crisis at

The currency chests of banks provide daily feedback to RBI about the stock of currency notes and coins. This helps the central bank monitor space at currency chests.

“As far as RBI is concerned, the coin problem of Sai baba temple has been solved,” said the official of the central bank.

Shri Sai baba Sans than Trust CEO Rahul Jadhav said the RBI’s intervention helped resolve the issue.

“We hope that the four banks that had stopped collecting the donations from us will come forward as RBI has found a solution to the problem,” he said.

Shri Sai baba Sans than Trust has ac- counts in 13 banks-12 in Shirdi town and one in Nashik. Representatives of these banks visit the temple by rotation to collect the donations and deposit the same in their respective banks.

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