Tirupati temple deposits 1,311 kg of gold in bank

The Tirupati Balaji temple management said it has deposited 1,311 kg of gold with a public sector bank under the Gold Monetisation Scheme and is negotiating for better terms for making more such deposits. The deposit of 1,311 kg of pure gold bars of 0.995 fineness was made with the Punjab National Bank on Monday , the Tirumala Tirupati Devasthanams (TTD) said in a statement.
The TTD manages the Balaji or Sri Venkateswara Swamy Temple in Tirupati in Andhra Pradesh. It is believed to be the richest temple in the world, with annual offerings from devotees worth hundreds of crores of rupees.
The deposit was made under the three-year short term Gold Monetisation Scheme and the PNB was chosen because it quoted the highest interest rate at 1.75 per cent per annum, said the statement, citing TTD Executive Officer D.Sambasiva Rao.

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