//Silver coins to be sold to Sai devotees on no profit no loss basis

Silver coins to be sold to Sai devotees on no profit no loss basis

Shirdi: Shri Sai Baba Sansthan has issued demand Draft to Indian Government Mint, Mumbai towards Purchase of 25 gram Silver Commemorative Coins released by Shri Sai Baba Sansthan in lieu of Centenary Celebration of Shri Sai Baba’s Maha Samadhi after receiving the necessary approval by Maharashtra Legislative Assembly.

The coins are being sold to Sai devotees on no profit no loss basis by Sansthan to enable them to preserve the coins as remembrance of Centenary Celebration of Shri Sai Baba’s Maha Samadhi. Sansthan Chairman Dr. Suresh Haware clarified at a Press Conference held on 5th November that there was no scam involved in this deal.

Vice Chairman Chandrashekar Kadam, Chief Executive Officer Rubal Agarwal, Trustees Bhausaheb Wakchoure, Adv. Mohan Jaykar, Dr. Rajendra Simha, Trustee and Chairperson of Shirdi Municipal Corporation Yogitatai Shelke, Deputy District Collectors Dhananjay Nikam, Manoj Ghode Patil, Deputy Executive Officer Babasaheb Ghorpade and others were also present on the occasion.

Dr.Haware said that with a view that Sai Devotees should remember the Centenary Celebration of Shri Sai Baba’s Maha Samadhi, Silver Commemorative Coins have been made available to them on no profit no loss basis. All costs will be recovered by Shri Sai Baba Sansthan and as such Sansthan will not be incurring any financial loss in this case. Maharashtra Government has given the required administrative approval to purchase the Silver Commemorative Coins from Government of India Mint, Mumbai vide government notification dated 17th October 2018.

Government of India Mint, Mumbai is a Central Government organization and hence there is total guarantee with respect to purity of Silver. The purity of each coin is thoroughly checked at the Government Mint. However, if the coin is purchased from a private organization, it is not possible to check the purity of each and every silver coin. Also, extra cost will be incurred towards checking the purity of each coin. Accordingly, Silver Coins weighing 25 grams were purchased from Government of India Mint, Mumbai and the break-up of which is as follows: 1. Original Silver Price is Rs.1013.65 ; 2. Wastage is Rs.19.31; 3. Making Charge is Rs.712.04; 4. Packing Charges (Cover) is Rs.5.00; Thus, the total Cost works out to Rs.1750.00; GST @ 3% works out to Rs.52.50; One Time Die Cost is Rs.23.18; Hence, the cost of one Silver Coin weighing 25 grams works out to Rs.1825.68.

Shri Sai Baba Sansthan had placed orders for purchase of 10,000 silver coins with Government of India Mint, Mumbai out of which 1000 coins have already been received. Sansthan has issued Demand Draft towards the total bill of Rs.20,34,000 pertaining to Silver Coins and Rs.2,31,681 towards die cost.

However, when the reality is in front of everyone, there should not be room for any doubt. Even then some politically vested interest persons are trying to create confusion in the minds of people for reasons best known to them. Sai devotees should not be victims to this mis conception and should know the actual facts. Dr.Suresh Haware categorically stated that there was neither any scam nor any money being wasted in this deal.

Jamshedpur, News Desk,"Silver coins to be sold to Sai devotees on no profit no loss basis", The Avenue Mail, November 8, 2018, https://www.avenuemail.in/jamshedpur/silver-coins-to-be-sold-to-sai-devotees-on-no-profit-no-loss-basis/125517/