Ornaments donated by devotees should be melted under monetisation scheme.
Representational image
Tirupati: The investment committee of the TTD on Sunday suggested that the main deposits, mainly in the form of gold ornaments, should be kept intact. The suggestion was made during a discussion on the gold monetisation scheme of the Centre, held in the office of TTD executive officer Dr D Sambasiva Rao here on Saturday. The committee suggested that the TTD hold a high-level meeting with the financial officers at the Centre to amend the scheme for at least charitable and religious institutions. They suggested that the main corpus of deposits be kept intact, respecting the sentiments of devotees.
Many temples have expressed concern that ornaments donated by devotees would be melted under monetisation scheme as it stands today. The high level meeting may take place either at the end of January 2016 or in the first week of February. The short term deposits under the gold monetisation scheme is similar to the gold deposit scheme which is being followed by TTD.
However, the rate of interest offered by banks is very less. The committee recommended that the banks be approached to provide rates of interest which are closer to medium-
and long-term deposits. Committee members former vigilance commissioner Ranjana Kumar, former RBI deputy governor V. Kamesam, former IDBI director Narasimha Murthy,
Additional FA&CAO O. Balaji and CAO Raviprasadudu were present.
Download the all new Deccan Chronicle app for Android and iOS to stay up-to-date with latest headlines and news stories in politics, entertainment, sports, technology, business and much more from India and around the world.
( Source : deccan chronicle )
Next Story
