Tamil Nadu converts temple gold into Rs 10 crore bond
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The Tamil Nadu government has invested Rs 10 crore in gold bonds by converting 27,250.500 grams of gold/ gold jewellery into bars belonging to Mariamman Temple in Irrukkankudi in Virudhunagar district.
Chief Minister M.K. Stalin on Wednesday handed over the gold bond to the temple authorities at the state secretariat.
According to the state government the Rs 10 crore bond issued by State Bank of India (SBI) will fetch an interest income of Rs 24 lakh per annum for the temple.
The government said, the gold jewellery contributed to the temple over the past 10 years by devotees and which were not used were selected and converted into gold bars.
The jewellery was converted into gold at a Central government facility in Mumbai and was deposited in the SBI's Bullion Branch there.
The Tamil Nadu government has taken a policy decision to convert unused gold jewellery owned by various temples under it into gold bars and invest the same to improve the revenue.
