TTDT published a white paper on Saturday detailing their financial holdings after the publication of a white paper detailing the Tirumala Tirupati Devasthanams (TTD’s) financial position. The temple trust has around Rs 5,300 crore worth of gold deposited in nationalised banks, it has stated. It has Rs 15,938 crore in its cash reserves.
Reports on social media claimed that TTD chairman and the board had chosen to invest excess cash in Securities of the Andhra Pradesh government, however the TTD has now confirmed that the current trust board has improved its investment standards since 2019.
The trust claims the excess funds are invested in regular financial institutions. Tirumala Tirupati Devasthanams said in a news release,”Devotees of Srivari are requested not to believe such conspiratorial false propaganda. Cash and gold deposits made by TTD in various banks are done in a very transparent manner,”
According to a report in the Times of India, TTD has estimated the value of its holdings to be 2.26 lakh crore. According to TTD executive officer AV Dharma Reddy, who spoke with the Times of India, the temple trust’s wealth has increased to 2.26 lakh crore.
TTD had 7339.74 tone of gold on deposit as of 2019 according to bank-wise investment data, with an additional 2.9 tons having been deposited during the preceding three years. According to TOI, the temple has 960 properties on a total of 7,123 acres throughout India.
According to a recent status update, the TTD confirmed that, in accordance with TTD Rules, it has made interest-only investments in Scheduled Banks at the H1 rate.
Donations from worshipers, local companies, and other organisations provide the bulk of the temple’s funding.
