INDIA, April 10, 2011: Temples in Himachal Pradesh will now be able to sell half their gold reserves in the form of gold biscuits and coins at the current market rate. The state assembly has amended the HP Hindu Public Religious & Chairitable Endowments Act 1984 to accomodate the suggestions by temple committees.
The yellow metal lying in temple coffers was causing a heavy expense to temple trusts due to the huge cost of providing security to the gold reserves.
With 70 percent gold kept aside as reserves, the new amendment will allow the sale of half of what is kept by the shrines. The new law will also allow temples to make use of huge reserves of silver.
Himachal Pradesh has at least 13 temples that have large treasure troves, including Chintpurni temple in Una, Naina Devi ,Jwalamukhi, Chamunda Devi, Brajeshwari Devi, Baba Balak Nath, Bhimakali and Hateshwari. These temples have large gold and silver reserves in government tresauries. Two years ago ten temples had over 900 lbs. of gold in government treasuries.