Finance Ministry Monitors Gold Prices Amid Economic Updates

Finance Minister Nirmala Sitharaman ensures vigilant monitoring of gold prices during festive seasons. Reports no issues with IDFC First Bank's system. US tariffs under review. The RBI reassures liquidity and strong FDI growth, confirmed during a post-Budget meeting.

Union Finance Minister Nirmala Sitharaman stated that the government is vigilantly monitoring gold prices. Historically, these prices peak during festival seasons, but have not surpassed set thresholds. The comments were made during a post-Budget meeting with the Central Board of Directors of the Reserve Bank of India (RBI).

Addressing concerns about IDFC First Bank, Sitharaman confirmed no systemic issues exist, emphasizing government policy refrains from commenting on individual enterprises. She reassured citizens about the RBI's substantial liquidity and the country's robust five-year credit availability.

Regarding US tariff complications, Sitharaman noted the Ministry of Commerce and Industry is examining the issue and withheld further comment. Supporting her, RBI Governor Sanjay Malhotra highlighted stable gold import orders amid rising prices and maintained a promise for necessary economic liquidity. He cited consistent Foreign Direct Investment growth as evidence of economic resilience.

(With inputs from agencies.)