In SBI Gold Investment Scheme, the temples of Tamil Nadu deposited more than 1000 kg, earning crores every year

The temples of Tamil Nadu have converted gold into earnings by the devotees, amidst a record breaking boom in gold prices. According to the state government, more than 1000 kg of gold has been collected from 21 temples, which has been converted into 24 carat rods and deposited in SBI’s Gold Investment Scheme. This investment is receiving interest of about Rs 17.81 crore every year.

How to use gold?

• Total gold collected: 10,74,123.488 grams (about 1074 kg)

• Maximum gold: 424.26 kg – Arulmigu Mariamman Temple, Adhapuram (Tiruchirappalli)

• Converted into rods: Mumbai’s official mint

• Investment Location: State Bank of India (SBI)

• Annual Interest Receipt: ₹ 17.81 Crore

• Uses: For the development of temples, improvement in facilities and self -sufficiency

Policy and monitoring

• HR & CE Minister PK Shekhar Babu gave information through policy note in Tamil Nadu Assembly.

  
  

• The government has formed three regional committees for transparency.

• Each committee is headed by a retired judge.

• Committees Work: Monitoring of Gold Collection, Conversion and Investment Process

Plan on silver also started

• The government has now allowed the unusable silver lying in temples to melt.

• This silver will be converted into pure silver rods by government recognized private companies.

• The process will be in the temple premises and will be conducted under the supervision of regional committees.

• The work of melting silver has also started.