Balaji, the world’s richest god at Tirupati, has now opened a demat account to enable devotees to donate shares and securities, after finding it a tedious task to get physical share certificates dropped in Hundi transferred on his name.

Considered the first globally for a shrine management, Tirumala Tirupati Devasthanams (TTD) has opened demat account (1601010000384828) with the Stock Holding Corporation of India.

PS Reddy, MD and CEO of Central Depositories Service (CDSL), told ET that 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.” Reddy said though 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.

MUST KNOW

• Tirumala Venkateswara Temple is a famous temple in the hill town of Tirumala, near Tirupati in Chittoor district of Andhra Pradesh, India.
• It is the richest temple in the world in terms of donations received and wealth, and the most-visited place of worship in the world.
• It comprises seven peaks, representing the seven heads of Adisesha, thus earning the name Seshachalam. The seven peaks are called Seshadri, Neeladri, Garudadri, Anjanadri, Vrushabhadri, Narayanadri and Venkatadri.
• The presiding deity of the temple is Lord Venkateswara, an incarnation of lord Vishnu. Venkateswara is known by other names: Balaji, Govinda, and Srinivasa.
• The temple is listed as 106th and the last earthly divya desam(total).The rich legacy of this temple are supported by Tamil and Telugu texts.
• State-Andhra Pradesh
• District-Chittoor
• Locale-Tirupati
• Architecture- Dravidian
• Inscriptions- Sanskrit,

Expected Questions

Name the first shrine management in the country to open a demat  account.

– Tirumala Tirupati Devasthanams

Name the MD and CEO of Central Depositories Service

– PS Reddy