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TTD not to invest in govt securities, to continue with FDs
TTD not to invest in govt securities, to continue with FDs
The Trust Board has explored various options of investment, in the backdrop of falling interest rate scenario in the wake of COVID pandemic and considered investments in Central Government or in different Sate Government securities as one of the options to be considered.
Tirumala: The Trust Board has explored various options of investment, in the backdrop of falling interest rate scenario in the wake of COVID pandemic and considered investments in Central Government or in different Sate Government securities as one of the options to be considered. There is no "hidden agenda" in this as the Trust Board has transparently made the decision in the Trust Board meetings telecast "Live" and further this Agenda with Board resolution was also uploaded in the TTD Website.
The investments in Central Government or State Government securities are not newly brought out by the Board but such a provision already exists in Sec 111(3) of Endowments Act 30 of 1987 and in Rule 80 of the TTD Rules issued in GO 311, dated 09.04.1990 and such investments in securities can be made only after the guidelines are approved by the government. No investment was made till now either in the Central Government or in different State Government securities. TTD not to invest in govt securities, to continue with FDs Board wanted to examine the investment option in Securities in the wake of falling interest rates. Now, this option may not be required to be acted upon, as the interest rates are going up, in the light of buoyance on the economy in the wake of unlock guidelines 5.0 and the TTD may continue to invest in the Fixed Deposits in banks.
Board wanted to examine the investment option in Securities in the wake of falling interest rates. Now, this option may not be required to be acted upon, as the interest rates are going up, in the light of buoyance on the economy in the wake of unlock guidelines 5.0 and the TTD may continue to invest in the Fixed Deposits in banks.
