Business

IIE Digital Desk: Ayodhya Ram Temple consecration is all set to happen on January 22. This temple is expected to bring a business boom and make Ayodhya a tourist hub. Amidst this, domestic banks are working their way to make the Ram Mandir trust to open bank accounts.

Ram Mandir Trust bank accounts

The Economic Times quoted a senior bank official and said that many banks are approaching the Mandir trust as they expect the trust to open a few more accounts due to the large amount of donations.

“Many banks including ours have approached the Ram Mandir Trust for their bank accounts as we understand that they will be opening a few more accounts given the donations and payments for various events at the temple, etc, will be part of it", a senior banking officer of a private bank told The Economic Times.Last week Karnataka Bank opened a new branch in Ayodhya.

Currently the trust has accounts in Bank of Baroda, State Bank of India and Punjab National Bank. Bank of Baroda which is heading the State Level Bankers Committee (SLBC) for the Ayodhya district has the largest deposits of the trust. SLBC is an apex inter-institutional forum formed to develop banking in every state. BOB has 35 branches in Ayodhya, one of which is very close to the temple premises.

According to the Ram Mandir Trust, as of March 2023 it has a deposit of Rs 3,000 crore out of which more than Rs 1,000 crore is spent on the construction of the mandir.

Paytm's MOU with Ayodhya Nagar Nigam

Meanwhile, Fintech firm Paytm has signed a memorandum of understanding with the Ayodhya Nagar Nigam to enable the Nagar Nigam facilities with mobile payments using Paytm QR code, soundbox and card machines.

Paytm is aiming to provide a seamless mobile payment services during the much-anticipated inauguration of the Ram Mandir in the city.

“Ahead of the much-anticipated inauguration of Ram Mandir, Paytm is thrilled to collaborate with Ayodhya Nagar Nigam to ensure convenient and secure digital/mobile payment solutions for the millions of devotees visiting the sacred city. Paytm's partnership with the city's Nagar Nigam reflects our commitment to supporting the local community and working in tandem with government intiatives", Abhay Sharma, Chief Business Officer - Payments, Paytm told The Economic Times.