The Department of Hindu Religious Affairs is in charge of 44,301 temples in tamil Nadu. Many of the gold decorations donated during the last ten years are thought to be useless in these high-income temples.
The tamil Nadu government has chosen to meet these at the Central Government's gold smelter, turn them into luxury gold, and invest the proceeds in bank gold reserves. The temples would be renovated with the interest gained, according to minister BK Sekarbabu's request for the assembly grant.
The bjp has spoken out against the tamil Nadu government's decision. The worshippers' donations to the temple are solely for that temple. The temple management is responsible for deciding what to do with the temple ornaments. That is not the Treasury's role, according to bjp spokesperson tirupati Narayanan.
Is the income generated by the tirupati temple's gold being invested in public sector banks? The tirupati temple has an excessive amount of jewellery. This is completely inappropriate. Yellow gold is used in all temple jewellery. All of the stones are from jewellery. What happens to the temple's stones if the jewellery is destroyed?
The meenakshi amman temple in Madurai's jewellery
We're going to compute the number of pieces of jewellery for worship and use them for the gods, he continued. We'll melt unwanted jewellery, jewellery, and little jewellery and take it to the federal government's gold smelter. We'll deposit gold nuggets in a gold deposit fund and use the interest gained to support temple construction. This project will be carried out in a transparent manner.
Do temples have any advantages?
At the same time, we spoke with CB Krishnan, Joint Secretary of the bank of india Employees' Federation, asking how temples may gain from putting gold in a deposit fund. Only gold will be worth tens of thousands of dollars as an investment.
He continued, The gold invested on behalf of the temples has been returned to the temples in the form of gold. According to him, they pay 1.75 per cent to 2.25 per cent interest on the strategy. What benefit does maintaining gold in its current form provide to banks, we wondered? As a result, no one can argue that this is mine gold. They determine the value on that particular date. Any public sector bank can accept gold as a deposit.
