For generations, gold has been a pivotal part of Hindi religion. Gold is frequently given as an offering to the gods and goddess on religious days and when people want their prayers answered. All of that gold laid on the altars of Hindi temples across the country of India is collected by temple officials and stored in temple vaults. Some of these gold vaults are hidden and guarded in strange ways—for years, many believed venomous snakes protected one temple vault.
All in all, it’s estimated that Indian households and temples hold four times as much gold found inside the U.S.’s famed Fort Knox!
India’s love of gold has been known to cause problems for the country. A few years ago, India imported so much gold that it caused financial problems for the country.
Now, the current Prime Minister of India is looking to improve the country’s financial status by encouraging temples and citizens to store their gold in government banks, where they’ll earn interest on their idle precious metals.
Gold has long been regarded as a good investment to hedge against inflation and other market forces, but investing a symbol so rife with meaning in Hindi culture may seem taboo. Already, the government is considering making changes in an effort to make it more attractive to potential investors after the program’s lackluster debut.