One of India's most high-profile Hindu temples said Wednesday it now accepts shares of listed companies as donations in a novel departure from the usual gifts of cash and gold. Mumbai's Siddhivinayak temple, which Apple chief executive Tim Cook visited in May, allows generous devotees to transfer their stocks electronically to an account run by the religious site's trust.
"We have opened up a 'share and securities' option for devotees globally," trust chairman Narendra Murari Rane told AFP, adding that the stocks would be converted into cash. "The stocks cannot be used for trading purposes," Rane explained. Situated in the south of India's financial capital, it is one of the wealthiest temples in India, receiving donations of around 750 million rupees ($11.19 million) a year in cash, silver and gold.
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