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FM: RBI’s gold buying not to replace $ for settlements

FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India’s rising gold reserves, including those held by RBI, is not intended to replace any international currency.

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She responded to Congress MP Manish Tiwari’s concerns about whether the global shift towards gold signalled a move away from the US dollar as a dominant settlement mechanism.

Sitharaman said, “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.”

Congress MP Tiwari stated that since the US abandoned the gold standard in 1971, gold had lost its significance as a major financial asset. However, in recent years, central banks worldwide have increased their gold holdings. From constituting only 6% of global reserves in 2006, gold now makes up about 11% in 2024. Countries like China, India, Poland, and Turkey have been among the most aggressive buyers, and domestic gold prices in India have surged as well. He asked “this shift away from the dollar to gold, does it indicate a renewed search for an alternative international settlement mechanism being cost the dollar?”

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Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection

A Celebration Of Regal Femininity, Heirloom Craftsmanship, and The Refreshing Depth Of Emeralds.

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June 2026 A bride’s jewellery is never merely ornamental, it carries sentiment, memory, and the quiet power of tradition. With its newest Polki Collection, Harit Zaveri Jewellers introduces a refined take on royal Indian bridal jewellery, thoughtfully designed for the modern bride who embraces heritage while expressing her individuality with confidence and grace.

Crafted between 18kt to 14kt gold and enriched by Emeralds, Harit Zaveri Jewellers Polki collection celebrates a bride in her most transformative moment – poised between reflection and becoming. Every jewellery piece in the collection is designed to accompany her through this pause.

At the heart of the collection lies the richness of polki craftsmanship – raw, uncut diamonds admired for their old-world charm and regal appeal, long associated with royal Indian heirlooms. Paired with vivid emeralds, known to symbolise renewal, harmony, love, and abundance, the collection brings together heritage and elegance. The richness of green emeralds adds depth and freshness, creating jewels that feel both classic and strikingly modern.

The collection features an expansive range of statement and versatile pieces including necklaces, kadas, rings, earrings, and bridal sets, thoughtfully embellished with emeralds, pearls, and polki detailing.

This collection from Harit Zaveri Jewellers compliments classic reds and heritage weaves to contemporary ivories, pastels, and couture silhouettes. Whether layered with a traditional lehenga, paired with a modern sari drape, or styled for intimate pre-wedding celebrations, these pieces seamlessly adapt while elevating every bridal look with a quiet majesty.

These pieces are envisioned as modern heirlooms, where meticulous craftsmanship, precious materials, and timeless artistry come together to create pieces worthy of being passed down through generations.

Harit Zaveri, Joint Managing Director at Harit Zaveri Jewellers said:

“At Harit Zaveri Jewellers, we have always believed bridal jewellery should feel personal, something that reflects a bride’s story and individuality. Many of our clients naturally gravitate towards one-of-a-kind pieces that resonate with their personality and become part of their memories for years to come. With this Polki collection, we wanted to celebrate craftsmanship with the richness of emeralds, a stone that beautifully complements a variety of bridal colours and effortlessly completes a look. Above all, quality remains at the heart of everything we create because we believe jewellery should feel as enduring as the memories and moments attached to it.”

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