TTD lays bare its finances through white paper
Deccan ChronicleNELLORE: Tirumala Tirupati Devasthanams on Saturday refuted reports on social media that it is planning to invest the devasthanam funds in Government of India or AP government securities. Describing the social media posts as “absolutely false and incorrect”, the devasthanam said: “Devotees of Lord Venkateswara and public at large may kindly note that neither TTD Board nor Government of Andhra Pradesh has directed the devasthanam to invest any amount in government securities of Andhra Pradesh. Investments are made transparently in banks.” According to the white paper, as per provisions of TTD Rules, surplus amounts of the devasthanam are invested only in scheduled banks at H1 rate of interest. TTD invites quotations from eligible scheduled banks / institutions as per the investment guidelines and procedures approved by TTD Board. The white paper said gold offerings received through Srivari Hundi are being sent to India Government Mint for melting, refining and investment under Gold Monetisation Scheme in long-term gold deposits of 12 years.
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