A demat account (1601010000384828) with the Stock Holding Corporation of India has been opened by Tirumala Tirupati Devasthanams (TTD).
TTD officials informed that interested people now can donate shares and securities to Lord Balaji using internet or mobile banking.
The Economic Times quoted PS Reddy as saying, "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 (devotees and TTD)," added Reddy, the MD and CEO of Central Depositories Service (CDSL).
After TTD's extraordinary move of opening a bank account for Lord Balaji, CDSL reportedly would ask other temple management across the country to open similar kind of demat account. It will help the temple managements collecting shares and securities as donations.
It has been reported that Tirupati temple has been receiving thousands of share certificates valuing lakhs of rupees. While asked about the donations through shares and securities, TTD officials, however, refused to divulge any details.