Mumbai, Oct 24: India’s foreign exchange reserves rose by $4.5 billion to $702.3 billion for the week ended October 17, mainly driven by an increase in the value of gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday.

India’s gold reserves held by the RBI as part of the country’s foreign exchange reserves surged by $6.2 billion to surpass the $108.5 mark for the first time on the back of a sharp rise in the price of the precious metal and increased purchases by the central bank.

Foreign currency assets, the largest part of the reserves, fell by $1.7 billion to $570.4 billion during the week. These assets are affected by changes in the value of currencies such as the euro, pound, and yen.

India’s reserve position with the International Monetary Fund (IMF) declined by $30 million to $4.62 billion during the week, RBI data showed.

The share of gold in India’s foreign exchange reserves has almost doubled over the past decade – from below 7 per cent to nearly 15 per cent – reflecting both steady central bank accumulation and a surge in global bullion prices. This is the highest proportion of gold in the country’s total reserves since 1996-97, according to market analysts.

Gold prices have shot up by as much as 65 per cent in 2025 due to the increased demand for the precious metal as a safe haven asset amid rising geopolitical uncertainty in the Middle East and the trade wars triggered by the US tariff hikes.

Central banks worldwide have accumulated substantial amounts of gold as a safe-haven asset in their foreign exchange reserves amid uncertainty created by geopolitical tensions. The share of gold maintained by the Reserve Bank of India as part of its foreign exchange reserves has almost doubled since 2021.

The RBI has added approximately 75 tonnes to its gold reserves since 2024, bringing its total holdings to 880 tonnes, which now constitute about 14 per cent of India’s total foreign exchange reserves, according to a Morgan Stanley report.

India is the world’s second-largest consumer of gold, next only to China and relies on imports to meet demand. Buying gold is deeply rooted in Indian culture and is used in large quantities in the form of jewellery gifts for the bride and bridegroom during wedding ceremonies. It also constitutes an important channel of safe-haven investment and a status symbol for families and individuals.

Bhopal/Damoh, Oct 24: In a brazen bid to exploit trust and siphon funds from unsuspecting contacts, cybercriminals allegedly created a fake WhatsApp account impersonating Damoh District Collector Sudhir Kochhar, using fabricated documents and a Vietnamese country code to mask their tracks.

The audacious scheme, targeting the collector’s personal network of friends and associates, was thwarted before it could blossom into a full-blown cyber crisis, thanks to the vigilant intervention of the district administration and police.

The impostor account, complete with the collector’s profile picture and official details, began dispatching urgent messages soliciting financial aid under false pretences – ranging from fabricated emergencies to urgent “official” transfers.

Recipients, believing the pleas emanated from the trusted IAS officer, were moments away from compliance when the ruse unravelled.

Collector Kochhar, upon receiving wind of the anomaly through a tip-off from a wary contact, wasted no time in alerting Superintendent of Police Shrutkirti Somvanshi.

“As soon as the information surfaced, my e-governance and cyber teams swung into action,” Kochhar recounted in a press briefing at the SP’s office.

“We traced the suspicious activity within hours, preventing any pecuniary loss.”

A formal complaint against an unidentified perpetrator was promptly lodged at the Damoh SP office, invoking provisions under the Information Technology Act, 2000, and the Bharatiya Nyaya Sanhita for identity theft and attempted fraud.

The cyber cell of Madhya Pradesh Police in Damoh, a specialised unit equipped with advanced forensic tools, has since launched a meticulous probe.

Investigators are delving into digital footprints, including IP logs, device metadata, and the forged credentials used to register the account via WhatsApp’s Vietnamese (+84) prefix – a common ploy to evade Indian jurisdiction and detection algorithms.

“The fraudsters’ use of international codes underscores their sophistication, but our team is collaborating with national cyber agencies to unmask them,” affirmed SP Somvanshi, emphasising round-the-clock monitoring.

This incident is not an isolated skirmish in Madhya Pradesh’s escalating cyber warfare.

Statewide, cyber frauds have surged by 45 per cent in 2025, per Madhya Pradesh Police data, with impersonation scams claiming over Rs 150 crore in losses.

High-profile targets like district collectors are prime prey, as seen in recent cases from neighbouring Gwalior and Sagar, where fake profiles duped officials into transferring lakhs.

Nationally, similar ruses have ensnared bureaucrats in Andhra Pradesh and Kerala, where fraudsters posed as superiors to extract funds via WhatsApp.

Underscoring the gravity, Collector Kochhar issued a stark public advisory: “I maintain no personal IDs on any social media or messaging platforms. Disregard any such accounts purporting to be mine.”

He urged citizens to abstain from engaging with unsolicited requests for money, sharing sensitive details, or initiating transactions, labelling such overtures as hallmarks of cyber entrapment.

“Report anomalies immediately to 1930, the national cyber helpline, or your local police. Vigilance is our collective shield,” he urged, flanked by cyber cell officers demonstrating scam-spotting techniques.

Bengaluru, Oct 24: BJP MLC N. Ravi Kumar on Friday asked the Karnataka government to resolve the state’s pressing issues first, and discuss the successor of Chief Minister Siddaramaiah later.

Speaking to the media at the BJP State Office, Opposition Chief Whip in the state Legislative Council Ravi Kumar said, “Anyone can become the next Chief Minister or successor; that is not our concern.”

Alleging that a female foeticide racket is being operated from the Chief Minister’s home district, Mysuru, he asked, “What does Health Minister Dinesh Gundu Rao have to say about this? “

Referring to a rape case of a nomadic Hakki Pikki community child, Ravi Kumar asked, “Why has no action been taken in that case?”

He claimed, “Drugs are being sold openly in Mysuru, 2,300 farmers have died by suicide, along with seven government employees. A librarian in Kalaburagi and a waterman in Chamarajanagar ended their lives because they were not paid their salaries.”

Ravi Kumar slammed the state government for “deteriorating” law and order, saying, “Rape and murder cases are being reported in Bengaluru. Where is Home Minister G. Parameshwara? Please find him for us.”

“Fifteen contractors have died by suicide, and the Chief Minister has received letters stating that Rs 33,000 crore in pending payments is yet to be released. Even as the contractors have mentioned a 60 per cent commission in their letter, instead of taking action, the Chief Minister is questioning the evidence,” he alleged.

He also took on the government for losing the AI Hub to Andhra Pradesh, saying, “If the government had focused on such matters instead of succession politics, thousands of unemployed youth in Karnataka could have found jobs. Give answers to these issues first, and then think about the CM’s successor.”