Siddhivinayak Temple opens demat account for stock donations

Shree Siddhivinayak Ganapati Temple, frequented by the rich and powerful among other devotees, has opened a demat account to help followers donate equity shares and other securities.

The CDSL demat account has been opened with SBICAP Securities Ltd in the name of Shree Siddhivinayak Ganapati Temple Trust (Prabhadevi) Mumbai, which manages the famous Siddhivinayak Temple.

The temple figures among the wealthiest in the country with huge cash and gold holdings donated by the devotees. It is visited by lakhs of devotees including rich and powerful every year.

Last year, Tirumala Tirupati Devasthanams had opened a demat account, which is reportedly receiving encouraging response from devotees.

Siddhivinayak Temple has opened a demat account to accept donations in the form of 'shares and securities' from devotees.

"The devotees of Lord Siddhivinayak can now avail the benefit and donate actively traded shares and securities,": CDSL, a leading securities depository, said in a statement today.

CDSL Managing Director and CEO P S Reddy hoped that the devotees will take advantage of the novel facility being offered for the first time by a Temple Trust in Maharashtra State to them.