Stalin hands over gold bond to Periyapalayam temple authorities

CHENNAI: Tamil Nadu Chief Minister MK Stalin on Thursday handed over a gold deposit bond worth Rs 46.31 crore, obtained from melting gold jewels deposited in Bavani Amman temple in Periyapalayam in Tiruvallur district, to authorities of the temple.

In the last 10 years from 2011 to 2021, the temple received a total of 130.512 kilograms of gold, after all stones and other metals were removed, and the gold, with the help of temple authorities, was taken to union government's gold refinery in Mumbai, where they were converted into gold biscuits weighing 91.61 kilograms. The gold biscuits were deposited in the State Bank of India under Revamped Gold Deposit scheme, 2015, for a total value of Rs 46.31 crore.

As the interest under the scheme is 2.25 per cent, the temple is set to receive Rs 1.04 crore per annum and with the help of the amount the temple authorities can carry out works related to the temple.

The scheme to convert gold jewels lying idle in the temple attached to HR&CE department was revamped by the DMK government after coming to power in 2021 and the State government appointed three Judges to monitor the process of separation of gold jewels. Under the scheme, jewels which were received as gift for the temple and which cannot be used for the Lord inside the temple will be separated and will be taken to the gold refinery in Mumbai where the jewels will be converted into bars and will be deposited in the bank as gold bonds. The interest from the bond will be used for the activities of the particular temple alone.