CHENNAI: The Department of Hindu Religious and Charitable Endowments (HR&CE) has monetised small gold ornaments offered by devotees at 21 temples, converting them into gold bars weighing over 1,000 kilograms, to generate revenue for the maintenance of the temples.

As part of the Gold Monetisation Scheme, which was launched in 1979, Chief Minister MK Stalin handed over investment certificates to the State Bank of India on April 11 for gold bars weighing a total of 1,074 kg, 123 grams, and 488 milligrams.

The gold will be deposited with the State Bank of India, where it is expected to earn an annual interest of ₹17.81 crore. Minister for HR&CE PK Sekarbabu was also present on the occasion.

These gold bars were produced from ornaments offered by devotees as offerings to the presiding deities of the temples. The interest income will be utilised for the upkeep of the temples and to enhance facilities for the devotees.

The scheme, which was put on hold between 2011-2012 and 2020-2021, was revived in the fiscal year 2021-2022 following the government’s order.