The Tirupati Temple in Andhra Pradesh has for the first time deposited 1,075 kilograms of gold with the State Bank of India (SBI), which is one of the single largest transaction in gold banking ever taken place in the country.
TTD officials said they were extremely happy about taking the step due to security reasons, and also for wanting to convert idle gold into a source of income.
The interest rate offered by SBI is one percent for three years, 1.25 percent for four years and 1.5 percent for five years.
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