Gold belonging to Palani temple invested in gold bonds
The Hindu
Ministers hand over temple gold to SBI for investment, generating ₹12 crore interest annually for temple development.
Minister for Hindu Religious and Charitable Endowments Department P.K. Sekar Babu and Minister for Food and Civil Supplies R. Sakkarapani on Friday handed over 192.984 kg gold belonging to Sri Dhandayuthapani Swamy Temple in Palani in Dindigul district, under the Gold Investment Scheme, to the State Bank of India.
The gold was handed over in the presence of retired Judge of Madras High Court R. Mala. Under the Gold Investment Scheme, the gold ornaments obtained as offerings from the devotees of temples and not used for the deity were converted into 24-carat gold bars and invested in State Bank of India. The interest from the investment was used for the development of the temples.
The Palani temple gold handed over to SBI to be invested in gold bonds would get ₹12 crore as interest per year.
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