1800 Kgs Gold of TTD deposited with SBI

Tirumala Tirupati Devasthanam has deposited 1800 Kgs of Gold belonging to the Lord with State Bank of India. This gold is donated by the devotees over the last 2 years. With this TTD has more than 5000 Kgs Gold in various banks. The Gold was deposited under SBI Gold Scheme for a period of five years at the rate of interest of one per cent, which effectively would mean addition of 12kg of gold per year and 60kg for 5 years.

RBI has imposed restriction over accepting gold deposits.TTD managed to convince SBI to accept the deposit at one percent interest per year. This is the single largest gold deposit to any bank in the country. The gold will be taken to government mint in Mumbai with SBI bearing the transportation charges, transit insurance, melting and refining charges and pure gold of 0.995 purity is taken as gold deposit.