HR&CE’s gold deposit will touch 1,000 kg by year-end: Minister PK Sekarbabu

CHENNAI: By the end of this year, the Department of Hindu Religious and Charitable Endowments (HR&CE) plans to increase its gold deposit to 1,000 kg under the Gold Deposit Scheme by converting gold jewels offered by devotees to generate more revenue, said the State Minister PK Sekarbabu.

“The department has segregated small gold jewels, which were offered by devotees to deities of various temples, and they weigh 776 kg 272 grams. These jewels have been taken to Mumbai to be melted and converted into 24-carat gold bars. These gold bars will be deposited in the bank to generate revenue of Rs 10 crore per annum through interest. The revenue will be used to improve facilities for devotees and the upkeep of the temples,” said the Minister while releasing the department’s designed calendars for 2025 in Chennai on Sunday.

Until the DMK came to power in 2021, the department had deposited a total of 631 kg of gold. After the current government took over, the department revived the scheme and converted over 472 kg of gold into bars.

“Now, we have collected small jewels weighing over 776 kg from eight temples and sent them to Mumbai to be converted into gold bars. This will bring the total gold deposit of the department to 1,000 kg. We have accomplished this in three years,” he added.

Regarding the calendars, the Minister said there had been an overwhelming response from devotees. Last year, the department produced 25,000 calendars and earned a profit of Rs 3 lakh.

Commissioner of the department BN Sridhar and senior officials of the departments also present on the occasion.