New Delhi, Feb. 11 -- Finance Minister Nirmala Sitharaman addressed concerns in the Lok Sabha on Monday regarding India's increasing gold reserves, emphasising that the accumulation is not intended to replace any international currency.

The clarification came in response to questions raised by Congress MP Manish Tiwari about the global trend of central banks increasing their gold holdings.

During the parliamentary session, Tiwari highlighted the historical context, noting that gold's role as a major financial asset had diminished after the United States abandoned the gold standard in 1971.

However, he pointed to a significant shift in recent years, with global central banks substantially increasing their gold reserves.

The proportion ...