Tirumala Tirupati Devasthanams releases white paper on Srivani trust donations

TIRUPATI: Tirumala Tirupati Devasthanams (TTD) on Friday released a white paper on Srivani trust (Sri Venkateswara Alayala Nirmanam trust) donations to silence the critics who have been levelling a series of allegations on the trust activities over the last few weeks.
TTD chairman YV Subba Reddy accompanied by EO AV Dharma Reddy released the white paper and reiterated that the donations received by the trust are maintained in an utmost transparent manner without scope for any sort of irregularities.
The Srivani trust was established vide a TTD trust board resolution dated on August 28, 2018. The trust received donations from the devotees through the online and the offline modes from 2019.
The donations received by the trust are invested in bank fixed deposits and the interest earned through such investment is used to fund the various activities of the trust.
The Srivani trust has collected Rs.861 crore donations so far since it's inception about four years ago. While Rs.603 crore has been invested in bank FDs, the remaining sum of Rs.139 crore is lying in the trust's accounts.
The trust has earned an interest of Rs.36 crore through the Srivani trust FDs.
The Tirupati trust has taken up construction of smaller temples across the south Indian states of Andhra Pradesh, Telangana, Tamil Nadu and Karnataka in a very big way using the Srivani trust funds.
TTD allocated Rs.227 crore for the construction of 2273 temples across the southern states.
Among the 2273 temples and Bhajan mandirs constructed, 1953 structures are being constructed by the state endowments department and about 320 temples are being constructed by the Samarasatha Sewa foundation.
TTD has already spent Rs.120 crore for the construction of the smaller temples.
The temple trust also allocated Rs.139 crore for the upliftment of ancient temples which are in a dilapidated state.
The Tirupati trust rubbished off allegations being levelled by the representatives of various political parties and reiterated that it would be constrained to take appropriate legal action against any kind of adverse propaganda related to the activities of the Srivani trust.