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Tirumala Tirupati Devasthanams deposits 2,780 kg gold with SBI

August 29, 2017
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The Tirumala Tirupati Devasthanams (TTD), which manages one of the World’s richest temple at Tirupathi, has deposited 2780 kgs of gold with the State Bank of India under Long Term Gold Deposit Scheme announced under the gold monetization scheme.In the wake of Gold Monetisation Scheme announced by Central Government, TTD has taken a decision to convert its gold deposits under Short Term Gold Deposit Scheme to Long Term Gold Deposit Scheme in February 2017. In that back drop 2075 Kg of Gold Deposit has been converted into Long Term Deposit Scheme at a rate of 2.5% per annum for a period of 12 years from the date of investment under Gold Monetisation Scheme.Apart from this the gold which was handed over to Mumbai Mint in May 2017, was converted and refined into pure gold of 705Kg which was received by TTD from Mint, was also deposited under Long Term Gold Deposit Scheme for a period of 12 years at 2.5% interest in SBI, taking the total gold deposits to 2780Kg for which the State Bank of .

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