Silver price spike poses new challenge for Srikalahasti temple

Tirupati: Silver prices are soaring relentlessly and have now crossed the Rs 3.40 lakh per kilogram mark, creating a serious financial challenge for the famed Srikalahasti Devasthanam, renowned nationwide for conducting Rahu Ketu pujas.

At the heart of the ritual are silver Naga Padigalu (silver figurines of snakes used for puja), which represent Rahu and Ketu. As per temple tradition, the puja cannot be performed without them. Due to their religious significance, these silver items are supplied by the Devasthanam as part of the puja kit to every ticket holder.

For years, the temple successfully followed a silver recycling system. After completing the puja, devotees customarily drop the Naga Padigalu into the temple hundi, as they could not take them home.

The collected silver is then sent to the Government Mint in Hyderabad, where it is converted into silver bars. Fresh Naga Padigalu of the required size are later minted from these bars at the temple’s own mint in Srikalahasti and reused. This system helped the Devasthanam cushion the impact of rising silver prices and proved financially viable.

However, with silver prices skyrocketing, a new concern has emerged. Temple authorities discovered that some fraudsters were purchasing Rahu Ketu puja tickets – particularly the Rs 500 category, solely to obtain the silver Naga Padigalu. Instead of participating in the ritual, they allegedly sold the silver in the open market, causing significant losses to the Devasthanam.

Each puja ticket entitles devotees to silver Naga Padigalu. While Rs 500 and Rs 750 tickets include two Padigalu weighing 2.5 grams each (five grams in total), higher-value tickets — Rs 1,500, Rs 2,500 and Rs 5,000 — come with two Padigalu of five grams each, totalling 10 grams.

Around a decade ago, this quantity of silver cost the temple roughly Rs 200 for five grams Padigalu. Today, it costs more than Rs 1,500. Compounding the issue, the Naga Padigalu supplied by the Devasthanam are made of 100 percent pure silver, making them highly attractive for resale.

Safeguarding these silver items has now become a herculean task. Speaking to The Hans India, Srikalahasti temple executive officer T Bapi Reddy said stringent measures have been introduced to prevent the silver from leaving the temple premises.

“Earlier, the Naga Padigalu were issued along with the puja kit at the time of ticket purchase. Now, they are handed over only at the time of the puja inside the temple. After the ritual, devotees naturally drop them into the hundi,” he said. He added that Rahu Ketu puja tickets are now issued only upon production of an Aadhaar card. Despite these steps, concerns persist. If devotees or fraudsters fail to deposit the Naga Padigalu into the hundi and instead sell them outside, the Devasthanam risks gradual depletion of its silver reserves. Alarmingly, the cost of the silver Padigalu has already exceeded the price of some puja tickets.

While temple authorities remain non-committal for now, there is growing speculation that Rahu Ketu puja ticket prices may be revised upward in the coming days to offset rising costs, despite the substantial revenue the Devasthanam earns through its silver recycling mechanism. However, it was widely felt that more stringent measures to protect the silver from going outside are to be taken immediately.