Shirdi Sai to fund Modi scheme

The Gold Monetisation Scheme launched by PM Narendra Modi before Diwali sees another lump investor in the form Shirdi Sai Nath temple trust. The temple is set to deposit around 200kg of gold to the scheme. This came aftermath the Siddhivinayak temple in Prabhadev pledged to deposit about 40kg of gold to scheme.

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From this the trust which oversees the temple & its holdings activities can get around RS.1.5crore as interest. The additional expenditure will be planning to cater the medical treatment of needy people. Currently, the trust holds 380kgs of gold in which 180kgs of gold on the idol of Sai Baba. The trust is no mood to disturb the gold on idol and will deposit the remaining 200kgs of gold to the scheme.

But the ban from High court which will refrain the trust from raising money using the gold offered by devotees. There would be a review petition to be filed in the High Court by trust that may allow the gold to be deposited in the scheme.