IOB to pitch for Sree Padmanabha Temple treasure

THIRUVANANTHAPURAM: Indian Overseas Bank (IOB), which deals with a portion of the gold reserves of the Tirupati Temple, will pitch for the treasure trove of Sree Padmanabha Swamy Temple, if the authorities in charge of the newly unearthed hoard put it up for auction. ‘’The reserves are so huge and it shouldn’t be kept idle. We would be only happy to keep it in circulation,’’ IOB Chairman and Managing Director M Narendra told reporters here on Tuesday. The IOB already deals with the gold reserves of Tirupati Temple. ‘’As for the Tirupati gold, the usual procedure is to bid for the gold for three years. And during the three-year period, when the gold is in our custody, we transfer it to gold exporters, jewellers and manufacturers. By the third year, we hand the gold back to the temple. This way,  the huge treasure could be circulated productively,’’ Narendra said.