The Tirumala Tirupati Devesthanams (TTD) has finally found a solution for never ending physical share certificates sans transfer forms dropped in the hundi.
Over the years, A lot of Devotees who wish to contribute a portion of their earnings to Lord Balaji used to drop physical shares in the hundi. TTD Officials could transfer those shares to the temple management only if the devotee attaches a transfer form to it.
To overcome this hurdle, TTD opened a Demat account of Lord Venkateswara Swamy with the Stock Holding Corporation of India (SHCIL). This first of its kind facility in the World permits devotees with Demat account to transfer their shares to Lord Balaji’s Demat account 1601010000384828 through off-market transaction from anywhere in the World.
TTD expects the revenues of Tirumala Temple to increase tremendously with the latest move. Particularly, The Temple Authorities were hopeful of receiving huge amount of shares as offering to the Lord by devotees while floating new companies as many consider it to be auspicious.
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