Siddhivinayak Temple gives 44 kg gold to the government
Local Press Co 5-point Snippet
1. One of the wealthiest shrines in the country, Siddhivinayak Temple, has made a deposit of 44 kg of gold in Narendra Modi-led government’s gold monetisation scheme.
2. This scheme intends to increase the gold deposit in the nation in order to minimize the heavy import of gold from foreign countries. The deposited gold will be melted at a government minting press.
3. In return, the trust of the revered temple will receive an interest of 2.25 percent, estimated to be around Rs. 10 lakh annually.
4. An official of the Siddhivinayak trust stated that the temple will use the interest amount towards charitable activities like assistance to needy, medical patients and students.
5. Previously, the Prabhadevi temple, whose current gold reserve amounts an astounding 171 kg, deposited 10 kg of the precious metal in State Bank of India in exchange for 1 percent annual interest.