The Tirumala Tirupati Devasthanams (TTD) Trust Board, which runs the Tirumala temple of Lord Venkateswara in Tirupati, Andhra Pradesh, released a white paper and declared the list of its assets.
On the 6th of November, Mr. Y.V. Subba Reddy, the Chairman of the TTD, released the net asset of the Tirupati temple. The assets include fixed deposits and gold deposits, over 10 tonnes of gold and Rs. 15,938 crores in cash with total assets worth Rs. 2.26 lakh crore.
After releasing the assets list, the TTD trust said they would invest the surplus amounts in scheduled banks and rubbished the claims that the funds would be used for security enhancement.
As per TTD guidelines, quotations were invited from scheduled banks with the highest credit ratings for gold deposits. All gold donations of Srivari Hundi were sent to the government mint under a 12 year gold deposit monetisation scheme. Whereas, the donations received by different banks are deposited in the same bank. The coins of parakamani Seva collected by banks were also deposited in the scheduled banks.
Mr. A.V. Dharma Reddy, the Executive Officer (EO) of the TTD said, “TTD’s investments in the form of fixed deposits in various banks in 2019 was ₹13,025 crore, which has now increased to ₹15,938 crores. In the last three years, the investment increased by ₹2,900 crores (sic.)”
It is to be noted, the net worth of Tirupati’s renowned Lord Venkateswara temple surpasses the market capitalizations of companies like Nestle,Wipro, and the state owned oil monopolies Indian Oil Corporation. The Tirumala Tirupati Temple is also India’s wealthiest temple.
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