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The Hindu
The Hindu
National
The Hindu Bureau

TDB to deposit 500 kg of gold in RBI for an annual interest of ₹6 crore

TDB RBI Gold Sabarimala

The Travancore Devaswom Board (TDB) will deposit 500 kg of gold in its possession in the Reserve Bank of India (RBI) for a five-year term.

TDB president K. Ananthagopan said the Board will earn an annual interest of ₹6 crore. Devotees frequenting TDB-owned temples in the State offer much of the gold as ornaments.

The TDB will enlist the help of the RBI’s “mining centre” in Haryana to purify the gold before they are smelted into biscuit form. The State Bank of India (Mumbai) will assist in the financial aspect of the transaction.

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