Shri Padmanabhaswamy Temple in Kerala is regarded as one of the world’s richest Temples near an estimated 1 lakh crores rupees or $22 billion USD. However, due to decades of neglect, abuse, and gross mismanagement, it has been reported the Temple can no longer afford the usual rice prasadam offering to Lord Padmanabhaswamy.

Tirupati Balaji Temple in Andhra Pradesh, a temple with a reported 8 tons of gold in reserve and accustomed to welcoming 100,000 visitors each day, has been struggling to pay staff salaries for most of the year and claims to have lost much more than 400 crores rupees ($55 million USD) since Coronavirus hit.

Now, reports out of Kerala have the Travancore Devaswom Board, which owns around 1240 Temples generating 580 crores rupees, or $79 million USD (more than half of which comes from Sabarimala Temple), stating that the Board must now approach the Reserve Bank of India for gold loans.
Temple visits have plummeted this year after Coronavirus but the Travancore Devaswom Board spends 50 crores rupees (nearly $7 million USD) each month in salaries and other costs. Temples have also continued to contribute by will, hook, or crook to local, state, and national relief programs.

Sabarimala Temple is known as one of the most popular destinations usually attracting up to 50 million visitors each year.

However, the Travancore Devaswom Board is now planning to approach the Reserve Bank of India for gold loans. Using Temple gold reserves essentially means pledging the jewellery of Lord Ayyappan. Reportedly, this scheme has been extended to all 1200 temples under the Travancore Devaswom Board - an action that could mean the end of hundreds of Hindu Temples in Kerala (Swatantramag).

The President of the Travancore Devaswom Board, N. Vasu said this week they plan to deposit around 1000kg of gold after already having sold off Temple assets such as lamps and brass items last May.
According to a World Gold Council Report, devotees have donated as much as 8.8 million pounds of gold to India’s largest Hindu Temples. However, due to criminal mismanagement of Hindu Temples in India, many Temple Boards are now pledging such gold donations and jewelry to the banks and where it goes after that only Gods know.

https://www.telegraph.co.uk/news/2020/08/26/1200-hindu-temples-india-will-pawn-gold-maintain-running-costs/

http://swatantramag.com/pledging-the-jewellery-of-lord-ayyappa/

(31 August 2020)
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