TIRUPATI TEMPLE TRUST DECLARES ASSETS: OVER TONNES OF GOLD AND Rs 15,938 CRORE IN CASH

The organisation that manages the Tirumala temple, Tirumala Tirupati Devasthanams (TTD), released a white paper in which it listed all of its assets, including gold deposits and fixed deposits. The trust claimed to have assets of Rs 2.26 lakh crore, including over 10 tonnes of gold and Rs 15,938 crore in cash.

However, the trust referred to social media reports claiming TTD had chosen to invest surplus funds in the bonds and securities of the Andhra Pradesh government as untrue and incorrect. It stated that the surplus funds were put in scheduled banks.

According to TTD guidelines, quotes from scheduled banks with the highest credit ratings for gold deposits were sought, whereas banks that were subject to PCA (prompt corrective action) by the RBI were not at all invited.

The government mint received all of Srivari Hundi's gold donations as part of a 12-year gold depositable monetisation scheme. A bank also deposits each donation it receives in another branch of the same bank. Any bank that collected parakamani coins deposited them in their own bank as well.