IS TTD the biggest depositor of PM's Gold Monetisation Scheme?

Hyderabad, Nov 26: Tirumala Tirupati Deveasthanams (TTD) board is likely to become the biggest depositor in the Gold Monetisation Scheme (GMS) that was launched by Prime Minister Narendra Modi recently. TTD board is reportedly considering to deploy Tirumala temple's gold in the GMS if its investment committee gives its approval. As of now, TTD has gold deposits in public sector banks like Stata Bank of India, State Bank of Hyderabad and Indian Bank and these deposits attract an interest rate of up to 1.5 per cent per annum. If TTD's board deposits gold in the GMS, it will get over 80 kgs of gold every year as entities participating in the scheme can earn up to 2.50 per cent interest rate on their idle gold.