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India's Richest Temple Deposits 1,175 Kg Gold With SBI

Tirupati, Feb 11   :  Tirumala Tirupati Devasthanams, administering the famous Lord Venkateswara temple at nearby Tirumala today deposited 1,175 kg of gold with State Bank of India for interest, the second such offering since May
PTI February 12, 2011 10:42 IST
PTI
Tirupati, Feb 11   :  Tirumala Tirupati Devasthanams, administering the famous Lord Venkateswara temple at nearby Tirumala today deposited 1,175 kg of gold with State Bank of India for interest, the second such offering since May 2010.

TTD Specified Authority chairman J Satyanarayana handed over the gold to SBI Hyderabad Circle GM T S Krishna Swamy in the presence of TTD Executive Officer, Krishna Rao on the hills.

Temple sources told PTI that in April 2010 the temple deposited 3,000 kg of gold with SBI as gold offerings in the temple hundi by devotees, which had accumulated for the last several years.

In May 2010, TTD had deposited 1,075 KG with SBI with a view to provide both the security protection and convert the 'idle gold' into a perennial source of income in the form of annual interest, the sources said.   PTI