National

Finance Ministry: Increasing Gold Reserves Meant to Complement, Not Replace, Any International Currency

Published

1 year ago

February 11, 2025

On Monday, Union Finance Minister Nirmala Sitharaman addressed the Lok Sabha, emphasizing that India’s increasing gold reserves—including those held by the Reserve Bank of India (RBI)—are not meant to replace any international currency.”Gold is stored at the Reserve Bank, and it is also being purchased by the Reserve Bank. However, I have little to add at this stage regarding any international currency or potential currency,” she remarked.

This clarification was in response to Congress MP Manish Tiwari’s concerns about whether the global trend towards gold indicates a departure from the US dollar as the primary medium of settlement.

Tiwari noted that since the US moved away from the gold standard in 1971, gold has diminished in importance as a financial asset. He pointed out that central banks worldwide have significantly increased their gold holdings in recent years, with gold now constituting about 11% of global reserves in 2024, up from just 6% in 2006. Countries like China, India, Poland, and Turkey have been prominent in this trend, leading to a rise in domestic gold prices in India.

In this context, Tiwari inquired whether this shift from the dollar towards gold signifies a quest for an alternative international settlement mechanism to bypass the dollar.

Minister Sitharaman acknowledged the robust demand for gold in India, emphasizing its growing appeal due to the traditional inclination of Indian households, small businesses, and women to view gold as a secure and liquid investment. “This is typical for Indian households, especially women, who regard gold as a secure and liquid asset,” she stated.

She confirmed that the RBI is amassing gold to create a balanced reserve portfolio. While the US dollar remains a dominant part of India’s foreign exchange reserves, the RBI also maintains reserves in various currencies along with gold.

Sitharaman reiterated that this strategy is aimed at diversifying reserves rather than signaling a shift away from the dollar or advocating for an alternative international settlement mechanism. According to the RBI’s latest update, for the week ending January 31, the gold reserves increased by USD 1.242 billion, reaching a total of USD 70.893 billion.

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National

Jammu University Introduces Fuel-Saving Measures

Published

1 day ago

May 14, 2026

Namma Kudla

National : The University of Jammu has announced several fuel-saving measures following Prime Minister Narendra Modi’s appeal for fuel conservation. Vice-Chancellor Prof Umesh Rai said the university has decided to conduct all PhD viva voce examinations online to reduce travel and save fuel.

The university will also prefer virtual speakers for national and international conferences. In another step, the Academic Council meeting planned in Poonch has been shifted to the Jammu University campus to avoid unnecessary travel.

Prof Rai said the measures will help save fuel, time and resources. He also encouraged university staff to use bicycles and carpool while travelling to the campus.

National

One Year On: Pahalgam Attack Still Haunts the Nation

Published

3 weeks ago

April 21, 2026

Namma Kudla

National: One year after the deadly terror attack in Pahalgam, the nation remembers the 26 people who lost their lives. The attack took place on April 22 at Baisaran, a popular tourist spot.

At first, reports said only five people were injured. Later, it became clear that it was one of the worst terror attacks in the region in decades. Terrorists came out of the forest and opened fire on tourists.

Survivors said the attackers separated men from women and children. They then shot the men at close range. Many victims were reportedly targeted after being asked about their religion.

A heartbreaking image of Himanshi Narwal sitting beside her husband’s body became a symbol of the tragedy. Her husband, a naval officer, was among those killed.

The group The Resistance front, linked to Lashkar-e-Taiba, claimed responsibility. The case was investigated by the National Investigation Agency.

After months of tracking, security forces launched Operation Mahadev. On July 28, 2025, all three terrorists were killed after a long search operation.

The attack remains a painful memory and a reminder of the need for strong security.

National

Social Media Influencer-Turned Gangster Held Abroad

Published

1 month ago

April 9, 2026

Namma Kudla

New Delhi: Rao Inderjeet Yadav has been arrested in Dubai. He is wanted in a murder case from Haryana.

He fled India in 2024 after a businessman was killed in Rohtak. Police had been searching for him since then. Officials said Dubai authorities have asked for documents. He is likely to be brought back to India soon.

Yadav faces more than 15 criminal cases. These include extortion, fraud, and illegal land deals. The Enforcement Directorate also investigated him for money laundering. Raids led to the seizure of cash, cars, and documents.

He also ran a music company called Gems Tunes. It produced regional songs.

Yadav had a large social media following. He often showed his rich lifestyle online. He has denied all charges. He claims he is being framed.

Police are now preparing for further action.