India's forex reserves decline for the twelfth time in 13 weeks, falling by $4.112 billion to $640.279 billion. The Reserve Bank of India's intervention in the currency market to stabilize the Rupee has contributed to this consistent drop, though the reserves remain adequate.
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The Centre estimates Rs 47,000 crore from disinvestment and asset monetisation in the 2025-26 Budget. A new plan aims to plough back Rs 10 lakh crore into new projects. The first phase of monetisation had limited success, focusing on brownfield assets across various sectors.
The US Department of Justice's indictment of Gautam Adani over corruption allegations risks straining India-US relations, potentially weakening Western alliances against China's influence. The charges may compromise significant economic partnerships, strategically disadvantaging the US while bolstering its competitors.
India and Qatar aim to double their bilateral trade to $28 billion in five years, transforming their relationship into a strategic partnership. PM Modi and Amir Al-Thani's high-level meeting led to key agreements on trade, investment, and energy cooperation, including extending India's LNG imports from Qatar. Additionally, they signed MoUs on economic cooperation and cultural exchange.
UCO Bank reports strong annual growth for the quarter ending December 2024 with a 12.18% increase in total business, reaching Rs 4.88 lakh crore. Key drivers include a 16.20% rise in total advances and a 9.37% boost in deposits. The CASA ratio remains stable, while the CD ratio improves significantly to 74.55%.
Groww, the Bengaluru-based discount stock brokerage, is planning an IPO within the next 12 months, seeking a valuation of $6-8 billion. The company aims to raise $600-800 million through the offering. This move comes as regulatory changes affect the derivatives trading space, impacting revenues of brokers like Groww and its competitor, Zerodha.
Federal Reserve Chair Jerome Powell stated that the central bank will keep interest rates unchanged, citing ongoing inflation above the 2% target and a strong job market. Although future rate cuts are uncertain, Powell emphasized the prudence of maintaining the current policy stance amidst economic changes under the Trump administration.
India achieved a record high renewable energy capacity addition of around 30 GW in 2024, a significant increase from 13.75 GW in 2023. This growth is crucial for meeting the ambitious target of 500 GW by 2030, with an average requirement of 50 GW per year.
KFin Technologies Ltd reported a 35% year-on-year increase in profit after tax to Rs 90.18 crore for the quarter ended December 2024. Revenue from operations rose by 32.6% to Rs 290 crore. For the first nine months of FY25, the company's PAT grew by 44.3%, with revenues increasing to Rs 808 crore.
The US economy ended 2024 with a solid performance driven by strong consumer spending and government support resulting in a 2.8% growth for the year. Despite inflation pressures and a slight dip in business investment, the overall economic outlook remains positive as President Donald Trump takes office in 2025.
Foreign funds have withdrawn over Rs 1 lakh crore from the Indian stock market in 2025, impacting investor sentiment and causing the rupee to weaken. This outflow, combined with a strong dollar and rising US bond yields, has led to an ongoing market decline and increased volatility.