Lord Balaji of the Tirumala Tirupati Devasthanams (TTD) has opened a demat account!
After the Dalal Street got its priciest member, Tirumala Tirupati Devasthanams said that it will accept shares and securities as donations from devotees. According to a release, TTD has started its account in Stock Holding Corporation of India Limited (SHCIL).
"The Central Depositories Service Limited (CDSL) officers have met TTD EO Dr D Sambasiva in his Chambers at TTD administrative building in Tirupati last evening and handed over the related Demat papers to him, the release said.
Shares and securities are held electronically in a dematerialised (or demat account) instead of the investor taking physical possession of certificates.
Lord Balaji temple in Tirupati is the second richest temple in the country.
CDSL Chairman Sri N Rangachari, MD and CEO Sri PS Reddy, SHCIL MD and CEO Sri NGS Ramesh, additional FACAO Sri O Balaji, CAO Sri Raviprasadudu during the opening of the TTD's demat account. (Picture courtesy: TTD website)