More than 10 tons of gold, 15,938 rupees in cash. Tirupati Temple Trust declares assets
The Tirupati Temple Trust has declared over 10 tonnes of gold and cash assets of Rs 15,938 crore. The trust, however, termed as false and incorrect social media reports that TTD has decided to invest excess funds in Andhra Pradesh government securities and bonds.
The trust said that surplus money is invested in scheduled banks.
By Abdul BasheerTirumala Tirupati Devasthanams (TTD), which runs the temple in Tirumala, released a white paper and announced a list of its assets, including fixed deposits and gold deposits. The trust is said to have more than 10 tonnes of gold and Rs 15,938 crore in cash, with total assets of Rs 2.26 lakh crore.
The trust, however, termed as false and incorrect social media reports that TTD has decided to invest excess funds in Andhra Pradesh government securities and bonds. Surplus money is said to be invested in scheduled banks.
As per TTD guidelines, quotations were invited from scheduled banks with highest credit rating for gold deposits and banks facing PCA (prompt corrective action) by RBI were not invited at all.
All Srivari Hundi gold donations were sent to the government mint under the 12-year-old Ling Gold Depositary Monetization Scheme. And all donations received by the bank are kept in the same bank. Coins of paraguns collected by any bank were also deposited in the same bank.
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