New Delhi, Feb. 10 -- The Reserve Bank of India (RBI) is not increasing the reserves of gold to replace any international currency, Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha.

Her response comes after Congress MP Manish Tiwari questioned whether the global shift to gold signalled a move away from the US dollar as a form of exchange.

"Gold is also kept in the Reserve Bank and gold is also being bought by the Reserve Bank. But beyond that, as regards an international currency or potential currency, there is not much for me to comment at this stage," FM Nirmala Sitharman said.

The Congress MP said that the US got away with the gold standard in 1971 as the metal lost its significance as a major financial asset...