Banks don't want to take TTD gold

Published: 12th August 2016 05:00 AM  |   Last Updated: 12th August 2016 05:00 AM   |  A+A-

@TIRUPATI: Public Sector Banks are not showing interest in accepting gold deposits under their ‘gold deposit schemes.’

The result: Tirumala Tirupati Devasthanams (TTD), which deposits gold in huge quantities is facing problems. The TTD has been waiting for depositing 1,000 kg gold, which is in the form of used gold ornaments since last two months. Though, the TTD officials raised the issue with zonal and state level heads of the banks, there has not been much progress.

In the next two months, the TTD will be  have more 400 kg of gold ornaments.

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