Temples to mint more interest on gold

 

These temples have acquired several kilo grams of gold through offerings by devotees. For instance, Lord Shiva’s abode of Vemulawada has 56.445 kilo grams of gold deposited in banks and its treasury. Dharmapuri’s temple consists about 15 kilo grams of gold. Similarly, the other pilgrim centres located in Kaleshwaram and Kondgattu together own nearly 10 kilo grams of the precious yellow metal, according information provided by their executive officers.

 

Currently, most of these temples have invested their gold in different banks and are able to get 1.5 per cent of rate of interest per annum. The shrines can earn 2.5 per cent of rate of interest on the yellow metal if they deposit it in any scheduled bank. This means, they can increase their income with the help of the new scheme.

 

D. Rajeshwar Rao, EO of SRRD, said that many scheduled banks were approaching him, requesting to deposit gold of the temple in gold monetisation scheme. “I had written letter to commissioner of endowments department, seeking appraisal of gold and silver ornaments of the temple by Jabaldari Verification Officer. This process will be completed in this month. Probably, we will go for the scheme by the end of November,” he explained. The other executive officers too told this reporter similar answer when queried.

 

Gold monetisation scheme allows you to earn some regular interest on your gold and save you carrying costs as well. It is a gold savings account which will earn interest for the gold that you deposit in it. Your gold can be deposited in any physical form.