Indian Temple deposits 2780 Kg of Gold with SBI

Mumbai-India (Aug 30)  One of the world's richest temples at Tirupathi, Tirumala Tirupati Devasthanams (TTD) has deposited about 2780 kilo grams of Gold under Long Term Gold Deposit Scheme with State Bank of India.

 With the introduction of Gold Monetisation Scheme by the government, the TTD during February took a decision to convert its gold deposits under the Short Term Gold Deposit Scheme to Long Term Gold Deposit Scheme.

 The 2075 Kg of gold deposits has been converted into the Long Term Deposit Scheme at a rate of 2.5 per cent per annum for a period of 12 years from the date of investment under the Gold Monetisation Scheme.

 "Gold offerings will be around one tonne per year. In the case of property deeds, the due procedure is followed by the concerned department to transfer the title. The temple also gets silver, diamond, and other items," as per Tirumala Tirupati Devasthanams.

Soiurce: ScrapRegister