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Tirumala Tirupati Devasthanams deposits 2,780 kg gold with SBI

Last year, TTD has deposited 1,311 kg of pure gold bars of 0.995 fineness with Punjab National Bank

T E Narasimhan  |  Chennai 

Tirumala temple in Tirupati. Photo: Wikipedia
Tirumala temple in Tirupati. Photo: Wikipedia

The Devasthanams (TTD), which manages one of the world’s richest temples in Tirupati, has deposited 2,780 kg of with under the monetisation scheme.

In the wake of the monetisation scheme announced by the central government, the took a decision to shift its deposits from the short-term deposit scheme to the long-term deposit scheme in February this year.

In the process, 2,075 kg of is now under the long-term deposit scheme, earning an interest of 2.5 per cent a year for 12 years.

TTD, Tirumala Tirupati Devasthanams

Apart from this, the that was handed over to Mumbai Mint in May was refined into pure of 705 kg and was deposited under the long-term deposit scheme for 12 years at 2.5 per cent interest in SBI, taking the total to 2,780 kg.

Last year, the has deposited 1,311 kg of pure bars of 0.995 fineness with Punjab National Bank.

The manages the Venkateswara Temple in and in other cities such as Chennai.

The temple receives offerings from devotees in cash, jewellery, gold, silver, property deeds, and demat shares.

“The offering will be around one tonne per year. In the case of property deeds, the title is transferred. The temple also gets silver, diamond, and other items,” a official earlier said.

During 2017-18, the expects to receive Rs 1,110 crore as capital funds from devotees; it is also expecting to garner Rs 807 crore as interest on investments.

Other revenue streams are the Special Entry Darshan, which is expected to fetch at least Rs 256 crore this financial year, accommodation fees of Rs 124 crore, and Rs 55 crore through the Arjitha Seva (darshan or seva to the gods) tickets.

The Somnath Trust, which manages the Somnath temple in Junagarh, Gujarat, had deposited around six kg of under the monetisation scheme in September last year.

Sanjiv S Patil, executive officer, Shree Siddhi Vinayak Ganapati Temple Trust, said that till now 50 kg of had been deposited and another 25-30 kg of will follow after the new board took over.

First Published: Wed, August 30 2017. 01:44 IST