Golden Harvest: Tamil Nadu Temples' Fortune in Monetisation Scheme

Tamil Nadu's state-endorsed gold monetisation scheme is proving lucrative for its historic temples. A total of 21 temples collectively generate Rs 17.76 crore annually from this initiative, according to P K Sekar Babu, the State Hindu Religious and Charitable Endowments Minister. The gold, initially donated as ornaments and later converted into bars, is deposited with the State Bank of India's (SBI) gold investment scheme in the temples' names.

In a recent phase, gold weighing 53.38 kg from four temples in the Kancheepuram district was transferred to SBI. This ceremonial handover took place in the presence of retired Supreme Court judge Dorai Swamy Raju, along with state ministers and various government officials, underlining the state's commitment to transparent and effective management.

The state government is preparing to extend the scheme further, as it plans to deposit an additional 378.6 kg of gold from 12 temples soon. Moreover, orders for implementing this initiative at the Sri Meenakshi Sundareshwar temple in Madurai, the Bannari Amman temple in Erode, and the Kariyakaliaman temple in Tiruppur are underway. The interest accrued from these deposits is earmarked for temple development projects.

(With inputs from agencies.)