Gold ornaments offered to Lord Venkateshwara in Tirupati will be insured soon, owing to allegations of misuse and cheating.

With a daily attendance of 70,000 people, Tirupati is one of the richest temples in the world. With generous offerings from pilgrims, the TTD receives offerings in the form of cash, gold and diamonds. Currently, the estimated worth of gold and diamonds in the TTD's management is valued at around 52,000 crores. This also includes antique jewelry dating back to the 12th century.

The temple owns around 20 tonnes of gold and diamond jewelry. Since no insurance company can underwrite the value of the entire property, the TTD management is looking for state-owned insurance firm which can re-insure with an international insurance firm.