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Temple funds belong to the Deity and cannot be used to prop up cooperative banks, rules Supreme Court

New Delhi – Temple money cannot be placed in financially troubled cooperative banks simply to keep those banks afloat. The Supreme Court has made it clear that temple funds must remain safe, protected, and used exclusively for the temple’s benefit — not as a source of revenue or rescue capital for any cooperative bank. The observation came during the hearing of a petition before the court.

Several cooperative banks in Kerala had challenged a Kerala High Court order directing them to return the fixed deposits belonging to the Thirunelli Temple Devaswom. The matter was heard by a Bench of Chief Justice Suryakant and Justice Joymalya Bagchi. During the hearing, the Bench questioned, “What exactly is wrong with the High Court’s direction?”

If a bank fails to attract customers, that is its own problem

Appearing for the cooperative banks, advocate Manu Krishnan argued that the High Court’s sudden directive to return the deposits within two months had put the banks in difficulty. The Chief Justice, however, remarked that earning the trust of the public is the bank’s responsibility, and if a bank cannot attract depositors, it must deal with the consequences itself.

Justice Bagchi added that once a fixed deposit matures, returning it promptly is the bank’s clear obligation.

The Bench ultimately dismissed all the petitions, while allowing the banks the liberty to approach the High Court again if they needed more time to process the repayments. The petitions had been filed by the Mananthavady Co-operative Urban Society and the Thirunelli Service Co-operative Bank.

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