HomeCurrent affairsTirupati to now accept donations in foreign currency as well

Tirupati to now accept donations in foreign currency as well

Tirumala Tirupati Devastanam (TTD), which manages the richest temple in Lord Venkateshwara’s country, can now accept foreign currency deposits provided by foreigners without disclosing donor details on behalf of the Lord. rice field.

The central government has given proper approval to her TTD. However, this exemption is only granted to TTDs under Section 50(c) of the Foreign Contribution Regulations Act and is not granted to all temples in the country.

Recently, the central government suspended him from registering TTD under the Foreign Contribution (Regulation) Act (FCRA) and fined him Rs 1.4 crore for violating certain rules.

However, TTD management said he negotiated with the Union Home Office (MHA) over the course of three months and the fine was reduced to his Rs.300 crore. TTD paid the fine and renewed its FCRA registration in March. MHA then asked her TTD to provide foreign depositor details, and the TTD administrator explained the problem of verifying the donor’s credentials.

The MHA has issued an affirmative response explaining the foreign currency deposit exemption granted to the TTD following the TTD official’s statement.

Union Home Secretary S. Muthu Kumar said Tirumala was the first temple in the country to be granted this facility. TTD also asked the Center to waive the Rs 300 crore paid to renew the FCRA license.

At a recent trust committee meeting, TTD Chairman YY Subba Reddy said his FCRA registration for TTD expired in January 2020 and has already requested an extension.

He also explained that the TTD often clarifies issues raised by the Federal Ministry of the Interior.

“Several foreign donors object to interest payments on such deposits due to a technical error between the FCRA and state fund departments. As instructed, we have already paid a fee of Rs 300 crore,” said Subba Reddy. 

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