TIRUMALA, FEB 11:  With an noble aim to convert ‘dead assets’ into income earning sources, the temple administration of Tirumala Tirupati Devasthanams(TTD) on Friday deposited 1,175 kg. of gold with the State Bank of India (SBI).

TTD has taken this noval decision of converting ‘idle gold’ into a perinnial source of income during last year and deposited 1075kilos of gold in SBI for the first time during May 23 last year.

The TTD Specified Authority chairman Sri J.Satyanarayana handed over the gold deposits to SBI Hyderabad Circle GM Sri TS Krishna Swamy in the presence of TTD EO Sri IYR Krishna Rao and member Sri V.Nagi Reddy.

Later addressing the occasion he said, that it is a welcoming decision by TTD which has wished to convert the idle gold into a perinnial source of income and also to provide security protection by depositing them in SBI. The TTD EO Sri IYR Krishna Rao called on other banks also to come forward to provide authentic security to Lord’s gold by depositing it in their banks.

SBI Hyderbad Circle GM Sri Krishna Swamy said that TTD is the highest depositor of gold among religious institutes in the country

During last year we had given an interest of 1.6% and from this year onwards we have enhanced the rate of interest to 1.61%. “Apart from this, keeping in view the larger interests of the pilgrims, we have decided to bear the transportation and purification charges at out own expense”, he added.

On the other hand along with SBI, HDFC and Punjab National Banks have inaugurated secured payment gateway facility by integrating with TTD online for accepting e-Hundi donations, which became operational from Friday. With this facility the donors can now use their debit, credit, Visa or Master cards to make donations.