Modi Ji’s initiative to cut-off the gold imbalance

• Posted by sujana g April 12, 2015 - Filed in Society - #Narendra Modi  #initiative  #to cut-off  #the gold imbalance  - 507 views

  Prime Minister Narendra Modi is one of the unique politicians who work hard for the Nation. The latest we heard that our beloved PM may open gold vaults for India’s rich temples.

  

  Yes, you heard it right.

  It is already known that Sreee Siddhivinayak Temple located in Mumbai is around two century old and guarded by 65 security officers and close circuit cameras as well. This is touted to be one of the richest temples in the nation which posses 158kg of gold worth around $67 millions.

  Incidentally, few years ago from Padmanabha Swamy Temple in Kerala State a treasure worth $20 billion was discovered.

  With this PM Modi wants to cut-off the god imbalance and gold imports by synchronising India’s rich temples deposit gold with banks and get benefited with interest payments.

  Narendra Murrari Rane chairperson of Sree Siddhivinayak temple says, "We would be happy to deposit our gold to nationalised banks if the policy is beneficial, safe and earns good interest".

  Sudheesh Nambiath says, "There is going to be a lock-in period under the new gold monetizing scheme"

  He added, "Banks will have to replenish the stocks with imports later (if temples withdraw gold)."

  Keep in touch for more news.