Tirumala, February 17: Tirumala Tirupati Devasthanams (TTD) will shortly deposit the silver in its treasury in nationalized banks. It has also sought the help of Mines & Minerals Trading Corporation (MMTC), Hyderabad for refining and converting the silver ornaments and utensils with it, into Silver bars.
As on date, 11,117.94 kg silver items other than solid silver, King George V and VI silver coins are available with the TTD.
TTD gets silver in solid form and itemised silver such as silver utensils and ornaments every day. It earlier used to get silver articles converted into silver dollars with the imprint of Venkateswara and Padmavathi Devi on both sides and sell them to devotees.
For the purpose, it used get pure silver dollars from the government mint, Hyderbad, by sending solid silver as and when was required. With regard to silver items, they were disposed off in public auction until 2006.
Also, in the same year, TTD sent 707.7 kg to the Mint at Hyderabad for refining, melting and conversion into silver bars and to prepare silver dollars.
After that however, silver offerings made by devotees started piling up with the Tirumala Devasthanams.
MMTC Limited Dy general manager has given his consent to take up refining of silver articles available with the TTD.
Speaking to Express, a senior official told that three nationalised banks have been contacted to consider TTD silver as deposits. “The rate of interest on deposits per annum has to be finalised yet,” sources said.
TTD is also contemplating to convert silver into the gold deposits. MMTC officials need time to get equivalent gold bars and it needs approval by MMTC higher officials. Sources told that they have to find a purchaser for huge quantity of sliver and it is a time taking process.
–Agencies