Shirdi temple wants to deposit 200 Kg gold in PM Modi's Gold monetisation scheme

Zee Media Bureau

New Delhi: Prime Minister Narendra Modi's ambitious Gold Monetisation Scheme (GMS) will have another temple as its depositor.

According to media reports, the Shirdi Sai Baba temple caretakers want to deposit 200 kg gold with the government however, as per Bombay High Court order, temple trust cannot melt the gold that has been offered by the devotees over the years.

Shirdi Sai Baba temple is the one of the richest shrines in the country, owns about 380 kg of gold in total.

According to an estimate, if the temple authorities manage to invest in the government's scheme, it will earn them an annual return of Rs 1.25 crore as interest.

At present the temple has an annual turnover of the Rs 350 crore through various sources.

The view of the temple caretakers is that the money gained through interest on GMS can be spent on tens of thousands of devotees that visit Shirdi every day.

The trust further feels that the money can particularly be spent on free meals and free medical treatment given to the devotees.