Tirupati: In a good news for the devotees of lord Venkateshwara at Tirupati, the world's richest temple has now opened a Demat account to allow people to donate shares and securities to the god. For a long time the devotees have been dropping physical shares and securities certificates into the donation box or hundi at the temple.
The TTD administration found it difficult to manage such things and decided to open a Demat account.
According to a report in The Economic Times, PS Reddy, MD and CEO of Central Depositories Service (CDSL), said the innovative move by TTD was primarily aimed at addressing the hassles pertaining to transferring the physical share certificates. "TTD has been receiving physical share certificates as donations by devotees in its open hundi, which indicates that devotees are interested in donating shares. TTD viewed that enabling devotees to use the Demat account for donations helps both." said Reddy.
TTD is the first shrine management in the country till date to open a Demat account. CDSL would explore similar interest from other temple managements in other parts of the country that were receiving shares as donations.
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