Siddhivinayak starts demat account

Siddhivinayak Temple, one of the wealthiest shrines in the country , will now accept shares as donations. The Ganesh temple has opened a demat account to enable devotees to offer shares of listed companies.
Trustees expect the income of the shrine, which boasts lakhs of followers, to double.
The trust has opened a demat account under the Union government's Central Depository Services Ltd (CDSL) venture through SBICAP Securities, a wholly-owned subsidiary of SBI Capital Markets. Initially the electronic platform will only allow donation of shares of listed entities. Later it will extend to other financial instruments including mutual funds, bonds and gold exchange traded funds.
A demat account allows devotees to directly transfer shares to another account.This seamless electronic transfer facility from anywhere could resolve the issue of devotees often offering physical share certificates.
Rane said they got the idea from Tirupati temple, which had opened a demat account in August 2015. The Prabhadevi shrine too expects its income to rise by 100% owing to this facility. Given the ease of transfer, devotees abroad can also donate shares.
Rane clarified that Siddhivinayak temple will not begin trading in shares. 

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