Tirupati Venkateswara temple, one of the richest temples in the world has a collection of old currency notes worth Rs. 12. 7 crores. The Tirupati Temple administration board requested the Reserve Bank of India to exchange the currency notes. But, the Reserve Bank denies changing the old currency notes and creates a controversy. It is the RBI that has given the timeline to change the old currency notes by 31st March 2017. Now, it denies changing the notes and hence the Tirupati administration board has raised a complaint regarding this. Prime Minister of India,
Narendra Modi
announced that Rs. 500 and Rs. 1000 will be invalid from 8th November 2016. A time limit had been given to the people to exchange the currency notes.