Andhra Pradesh: Tirumala Devasthanams trust declares 10.3 tonnes of gold reserve; dismisses reports of investment in govt’s securities 

New Delhi: The Tirumala Tirupati Devasthanams trust dismissed the media reports of investment of surplus funds in the securities of the Andhra Pradesh government by issuing a white paper today. In the paper, the trust said it has 10.3 tonnes of gold in its reserve and fixed deposits worth over Rs 5,300 crore in the nationalised banks. The trust also has a cash deposit of Rs 15,938, as per official sources.

Denying the reports in the media, the trust said it has tried to strengthen its investment rules after the year 2019. It said that the surplus amounts is sent to deposit in the scheduled banks.

It also requested devotees of Srivari not to believe any false reports going viral on social media. ”Gold and Cash are deposited in various banks by TTD in a very transparent manner,” read the press release.

TTD also revealed that it owns assets worth Rs 2.26 lakh crore. TTD executive officer also confirmed the development.

Earlier in 2019, TTD’s investments in the form of fixed deposits in several banks were 13,025. The amount rose to 15,938 crores in the last three years by 2,900 cores.

Notably, 2.9 tons were added in the last three years in the earlier deposit of 7339.74 tons, according to the bank-wise details shared by the trust in the release.