Tirumala Tirupati Devasthanams (TTD), the overseeing assemblage of Tirumala Venkateswara Temple, has opened up a demat account to acknowledge donations from aficionados as shares and securities.
Demat or dematerialised account is required for electronically keeping shares and securities.
Tirumala Venkateswara Temple, otherwise called Tirupati Balaji, is thought to be one of India’s richest temple and gets crores of rupees, valuable metals and stock authentications in donations consistently.
The temple, as of August 2014, had around 5,000kg of gold deposited with different banks in India.
To get rid of the bother of physical stock authentications and encourage donation from enthusiasts, Tirumala Venkateswara Temple opened the demat thought, the overseeing body of the temple said in an announcement.
The temple likewise acknowledges online donations and has tie-ups with a few banks.
The temple has begun its account in Stock Holding Corporation of India Limited (SHCIL) and the account number distributed to it is 1601010000384828.
After the Dalal Street got its priciest part, Tirumala Tirupati Devasthanams said that it will acknowledge shares and securities as donations from enthusiasts. As indicated by a discharge, TTD has begun its account in Stock Holding Corporation of India Limited (SHCIL).
“The Central Depositories Service Limited (CDSL) officers have met TTD EO Dr D Sambasiva in his Chambers at TTD authoritative building in Tirupati last night and gave over the related Demat papers to him, the discharge said.
Shares and securities are held electronically in a dematerialised (or demat account) rather than the financial specialist taking physical ownership of authentications.
Lord Balaji temple in Tirupati is the second richest temple in the nation.
This is the first of its kind donation office on the planet. The TTD has opened an account with the Stock-Holding Corporation of India and will acknowledge commitments from lovers and givers as electronically held shares and securities, as indicated by the Hindu.
The thought is to give all sort of offices to lovers to offer donations to the temple.
MD and CEO of CDSL, PS Reddy told the Economic Times that the creative move by TTD was principally gone for tending to the bothers relating to exchanging the physical share testaments. “TTD has been getting physical share declarations as donations by fans in its open Hundi, which demonstrates that aficionados are keen on giving shares. On the other hand, the quantam of shares and securities was not got.”
The Tirumala temple had before even presented online donations and donations as remote cash.
Rich Hindu temples, for example, Tirumala are stores for a significant part of the $1 trillion value of secretly held gold in India – around 22,000 tons, as per an assessment from the World Gold Council. Indeed, Tirumala alone has gold stores worth Rs 70,000 crores all as gold rolls, blocks, statuettes, coins and adornments. Of this, 80 to 100 kilos of gold is offered by aficionados every month.
A year ago, an incredible 1,800 kg of gold offerings made by lovers of Lord Venkateswara were deposited by TTD with the State Bank of India.