The temple receives huge amount of money, gold, precious metals among other offerings from devotees in huge numbers.
The country's one of the richest Hindu temple, Tirupathi Balaji has deposited 2,780 Kg of gold with the State Bank of India under the government's monetisation scheme.
The Tirumala Tirupati Devasthanams (TTD), which manages the Tirupathi temple took a decision in February to convert its gold deposits under the short-term gold deposit scheme to the long-term gold deposit scheme.
Executing its decision, the temple has now deposited 2,075 kg of gold to monetise it at a rate of 2.5% per annum for 12 years from date of investment under the Gold monetisation scheme, Business Standard reported.
Announced in the Budget of 2015-16, the gold monetisation scheme facilitates the depositors of gold to earn interest on their metal accounts. Once the gold is deposited in metal account, it will start earning interest on the same.
Besides the above deposit, TTD earlier in May deposited 705 kg of gold, which later on it handed over to the Mumbai mint. Hence, now th etotal gold deposit has reached to 2,780 Kg.
In 2016, TTD had deposited 1,311 kg of pure gold bars with Punjab National Bank.
A TTD official told BS that offerings in the form of gold touch around 1 tonne per year. "In the case of property deeds, due procedure is followed by the concerned department to transfer the titles. The temple also gets silver, diamonds and other items," the TTD official added.
Apart from the Venkateswara Temple in Tirupathi, TTD also manages the temple in many cities including Chennai. Venkateswara Temple in Tirupathi is a famous Hindu temple and is considered to be one of the richest temples worldwide. The temple receives huge amount of money, gold, precious metals among other offerings from devotees in huge numbers.
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