Kerala recorded the highest inflation rate at 7.3% in February, while Telangana had the lowest at 1.3%. The overall retail inflation slowed to 3.6%, driven by lower food prices. Thirteen out of twenty-two states had inflation rates below the Reserve Bank of India's target of 4%, according to data from the National Statistical Office.
Related news
Indian companies raised a record Rs 3.8 lakh crore in FY25 through IPOs and QIPs, apart from debt. Including rights offers, total funds raised approached Rs 3.9 lakh crore. Major IPOs included Hyundai Motor, Swiggy, and NTPC Green Energy. Debt instruments raised Rs 11.1 lakh crore. Strong listing gains and institutional support boosted fund-raising.
Laxmi Dental Ltd's IPO got fully subscribed within minutes, ending the day at 5.28 times subscription with significant interest from retail and non-institutional investors. The IPO is a mix of fresh issues and OFS, with proceeds aimed at debt repayment and capital expenditure. Shares will be listed on BSE and NSE.
Spending on Artificial Intelligence technologies will grow at 2.2x the rate of overall digital technology spending in the next three years, generating an India economic impact of over USD 115 billion by the end of 2027, according to a latest report by International Data Corporation (IDC).
The rupee closed at 86.58 against the dollar, slightly weaker than the previous day, as early gains were erased due to a rebound in the dollar following tariff threats by US President Trump. Most emerging market currencies weakened, with the Mexican peso and Canadian dollar experiencing significant declines.
India’s foreign exchange reserves increased by $7.654 billion to $638.261 billion in the week ending February 7. This marks the third straight weekly rise, driven mainly by gains in foreign currency and gold reserves, after previous declines due to currency revaluation and market interventions.
Bank credit and deposit growth in India slowed in the October-December quarter of 2024. Notably, personal loans and credit to key sectors saw a decline, while public sector lending picked up. Term deposits grew significantly, driven by higher interest rates and large-value deposits.
More than 54.5 crore JanDhan accounts have been opened till January 15, 2025, with about 56 per cent belonging to women, according to Finance Minister Nirmala Sitharaman. The government initiated the Pradhan Mantri Jan Dhan Yojana in 2014 to provide universal banking services, later focusing on 'every unbanked adult'.
Gold prices remained steady at Rs 76,650 per 10 grams and silver at Rs 97,260 per kilogram on March 8. Gold April futures closed at Rs 85,820, and silver May futures ended at Rs 97,280. Analysts predict volatility due to upcoming US economic data. Gold trading is expected between Rs 84,000 and Rs 86,500.
SoftBank is negotiating a potential $25 billion investment in OpenAI, the creator of ChatGPT, according to insiders. This investment would significantly bolster SoftBank's involvement in the AI sector and support the OpenAI-Stargate initiative aimed at maintaining the US's lead in global AI advancements.
Indian Railways has announced a Rs 16.7 lakh crore investment plan by 2031 to modernize infrastructure, focusing on station redevelopment, freight corridor expansion, and high-speed rail projects. Private sector involvement is increasing, and significant progress includes the Mumbai-Ahmedabad bullet train and three developing freight corridors. Station redevelopment involves 508 stations, creating substantial business opportunities.