Tamil Nadu

HR&CE dept. to deposit 2,000 kg gold in banks

The Hindu Religious and Charitable Endowments (HR&CE) Department has decided to deposit around 2,000 kg gold in nationalised banks and will use the interest for maintenance of temples, Minister of the Department P.K. Sekarbabu said.

“Temples are getting jewels as offerings from devotees and some of them have not been used for the last 10 years. Now the Chief Minister, in a review meeting, advised us to make use of the precious metal to generate revenue for the temples,” Mr. Sekarbabu told The Hindu.

He explained big temples in the State were already maintaining gold deposits and getting interest, besides money deposits.

“The jewels necessary for adorning the deities will be retained in the temple. The rest, after removing the precious stones, will be sent to the government gold refinery in Mumbai for making gold bars. The bars would be deposited in banks under the Gold Monetisation Scheme,” he said. The deposit will bring 2.5% interest.

Mr. Sekarbabu said the department would constitute a committee for the purpose and everything would be done in a transparent manner. “If necessary, the gold can be withdrawn and used for temple purposes,” he said.


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Printable version | Sep 25, 2021 2:00:49 PM | https://www.thehindu.com/news/national/tamil-nadu/hrce-dept-to-deposit-2000-kg-gold-in-banks/article35551472.ece

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