Tirumala:  TTD Executive Officer Dharma Reddy released a white paper on Saturday on its investments and gold deposits that it had made between June 30^th, 2019 and September 30^th, 2022.

The TTD E.O said that the investments are with deposit banks until the end of term of the present TTD Board and its Chairman YV Subba Reddy. TTD Board denied social media reports that the Trust chairman and the Board had decided to invest surplus funds in Government of India bonds or Andhra Pradesh Government Securities.

The TTD said as per Trust Rules, it had invested in Scheduled Banks at the H1 rate of interest. As per TTD guidelines, quotations were invited only from scheduled banks with the highest credit ratings for gold deposits.

TTD invested all gold donations from Srivari Hundi were sent to the Government Mint under a 12-year long gold monetisation scheme. All donations received in a bank were deposited in it and coins collected under Parakamani Seva were also deposited in they were received.
TTD has invested in 24 banks and the total amount stood at 13,024.09 crore and as on September 30, 2022, it was 15,938.68 crore. Gold has been deposited in SBI and IOB. As on June 30^th, 2019, the gold deposits in the two banks was 7,339.74 kg, which increased to 10,258.37 kg as on September 30^th, 2022.