Shirdi Sai Sansthan to give Loans to Road Contractor's

February 4, 2010

Shirdi Sai Sansthan to give Loans to Road Contractor'sWebdunia.com28th Jan`2010In terms of the offering's made to any Temple in the country, Shirdi Sai Sansthan stands second in India and it has accumulated so much wealth that, now it is preparing to give Credit (Loans) to Road Contractor's but only with a Condition that the Contractor

will have to first get the Guarantee of the Government. But a few Trustee's of the Shirdi Sai Sansthan are Opposed to this decision.The Shirdi Sai Sansthan gets an annual donation of Rs 250 crore and thus the State Government's eye has always been on the Sansthan. Quite a few time's, the Sansthan has also been alleged use this collected donation money to fulfill many of the Government's responsibilities. However, such allegations were always ignored. At present, the Sansthan has about 400 crore rupees as bank deposits alone. The State Government, under the BOT scheme has given the contract for the construction of a 23 km long bypass on the Shirdi City - Manmad National Highway. The Related Road Contractors are asking for a Rs.70 crore loan from Shirdi Sai Sansthan at an interest rate of 7% whereas the Sai Sansthan has proposed an interest rate of

9.50%. The Sansthan has drafted the proposal and it has been sent to the State Ministry of Law and the final decision will be taken by the Government.Meanwhile, opposing this decision / proposal of giving out Loan's, Shirdi Sai Sansthan's, Executive Officer Kishore More said that according to the rules, the Sansthan cannot Loan the money collected by it, by way of donations, to any Individual or Institution.He added that if the Contractor's have taken a Loan form a Bank at an interest rate of 12% to 14%, then how can the Sansthan possibly give them the Loan at an interest rate of only 9.50%

? He also alleged that, to oblige the Contractor's all Rules & Regulations of the Sansthan were being violated asit was already decided to forward the proposal to the Government, without even considering to take the consent of the other Trustees of the Sansthan.Source - http://hindi.webdunia.com/religion/religion/news/1001/28/1100128024_1.htm_"Give a Loan of Laughter to the LOan-Lee,And as the Interest, charge them their sOrrOw's." aM

I LOan-some tOnite ? rOhit beHaL