GOD'S OWN WEALTH

Religious institutions have been the biggest custodians of wealth for centuries. The antique value and the element of faith only add to their allure.

-  P.B. Jayakumar

FOR THOUSANDS OF YEARS, India’s richest temples and religious institutions have been the biggest custodians of wealth, jewellery and assets. Their enormous wealth was one of the main reasons for multiple invasions over years. Today, the centuries-old gems and jewellery of deities are immeasurable for their antique value and faith associated with the assets. Hence, most religious institutions rarely put a value to their wealth, not only in India, but across the globe.

In a rare instance, the Tirumala Tirupati Devasthanams (TTD), which runs the temple of Lord Venkateswara at Tirumala (an incarnation of Supreme God Maha Vishnu), disclosed assets in November last year — around ₹2.5 lakh crore in cash and gold deposits in banks, donations from devotees and land and buildings. It is equivalent of around two months of GST collections. This amount, though, excludes the price