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

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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.

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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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11 Hospitalised After Dead Lizard Found in Birthday Cake

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Maharashtra : Eleven people were hospitalised after eating a birthday cake that allegedly contained a dead lizard in Nalasopara, Maharashtra.

The incident took place during a birthday celebration. The affected group included seven children and four women.

According to reports, they complained of sudden stomach and chest pain shortly after eating the cake.

They were immediately taken to a nearby hospital for treatment. Doctors said that all 11 patients are in stable condition.

The incident has raised serious concerns about food safety and hygiene standards in bakeries.

The case comes amid growing concerns over food safety in Maharashtra. Earlier, a rat was allegedly seen inside an ice cream freezer at a Blinkit store in Thane’s Godrej Hill area in Kalyan.

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In another incident, food safety officials suspended the FSSAI licence of a Blinkit-linked facility in Malad West after finding several violations.

The recent incidents have increased calls for stricter checks on food storage, hygiene and safety standards across the state.

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Dead Russell’s  Viper Found on Vande Bharat Express

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Ernakulam: A dead Russell’s viper was found on a passenger seat inside a Vande Bharat Express in Ernakulam, causing panic among passengers.

The incident took place on Friday, August 14, at around 2.30 pm. The train was scheduled to leave Ernakulam Junction for Bengaluru.

The incident came to light before the train began its journey. Vinu Varghese, who works for an insurance company in Ernakulam, had booked a ticket to travel to Coimbatore with his two-year-old child.

When he returned to his seat after visiting the restroom, he noticed the dead snake lying on the seat. He was shocked and immediately informed the Travelling Ticket Examiner (TTE) and railway staff.

The railway staff quickly responded to the situation. With the help of passengers, they removed the dead snake from the coach.

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After the snake was removed, the passengers felt relieved. Vinu Varghese later filed an official complaint through the railway portal.

In his complaint, he questioned the safety and cleanliness standards on the train. He said passengers pay a significant amount for travelling on Vande Bharat trains and expected better safety measures.

Varghese said the railway staff later apologised for the incident.

The incident has also raised questions about how a snake entered the passenger compartment. Vande Bharat trains are air-conditioned and have sealed gangways and automatic doors that open only at designated stations.

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The incident has raised concerns about pest control and safety protocols on the train. Railway authorities have ordered a detailed investigation into the matter.

This is not the first reported incident involving a snake on a Vande Bharat train. In December 2025, a passenger was allegedly accused of deliberately placing a snake inside the Mumbai-Solapur Vande Bharat Express.

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West Bengal Man Detained in Bengaluru over Alleged Terror Links

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Bengaluru: Bengaluru police have detained a 25-year-old man from West Bengal over his alleged links with a terror group.

The accused has been identified as Asafool Mallik. He is a native of Naopara village in West Bengal’s North 24 Parganas district.

Police detained Mallik in the Jigani area after receiving information about his alleged suspicious online activities.

According to the police, Mallik had allegedly established contact with a person identified as Imran Haider through Facebook. Haider, who is from Afghanistan, is suspected to have links with the Tehreek-e-Taliban Pakistan (TTP).

Police said Mallik allegedly wanted to travel to Afghanistan and join the group. He also allegedly discussed retaliatory attacks against the Pakistan Army and possible attacks in India.

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Mallik had reportedly applied for a visa to travel to Afghanistan. However, he later dropped the plan due to financial difficulties and family responsibilities, police said.

Mallik was living near APC Circle in Jigani. He had been working as a security guard at Tata Advanced Limited in the Jigani Industrial Area since December 2025.

Police said they received information about his activities while conducting patrols in the Bommasandra Industrial Area.

During questioning, Mallik allegedly said he was angry over what he believed were attacks on Muslims in Pakistan. He also reportedly expressed anger over Pakistan’s position on the Israel-Palestine conflict.

Police further said Mallik was allegedly being encouraged to retaliate if Muslims faced difficulties in India.

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Police later examined Mallik’s mobile phone. They allegedly found chats, voice calls and audio conversations between Mallik and Haider.

The police are now examining the chats, recordings and other material recovered from the phone.

The investigation is underway to determine the extent of Mallik’s alleged links with the terror network.

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