The Rapid Economy

India's foreign exchange reserves rose by  $15.3 billion , reaching  $653.96 billion  for the week ending March 7, 2025. This marks the  largest weekly increase  since August 2021, driven by the Reserve Bank of India's (RBI) recent currency swap operations. The RBI executed a  $10 billion dollar-rupee swap  on February 28, aimed at enhancing liquidity in the banking system. The surge also reflects valuation gains from a weaker dollar index, which dropped to a four-and-a-half-month low. Foreign currency assets contributed significantly, increasing by  $13.9 billion  to  $557.8 billion , while gold reserves rose by  $1 billion  to  $74.3 billion . The RBI actively manages forex reserves to stabilize the rupee and mitigate excessive market volatility. Economists view this increase as a positive sign for India's economic stability amid global uncertainties.

L&T Signs Major Contract: Larsen & Toubro (L&T) has signed a significant agreement with ACWA Power to construct a seawater reverse osmosis desalination plant in Saudi Arabia. Joint Venture: The project will be executed in partnership with Lantania, a Spanish company, under L&T's Water & Effluent Treatment (WET) division. Project Capacity: The Ras Mohaisen Desalination plant will have a capacity of 300,000 cubic meters per day. Beneficiaries: The plant will provide drinking water to approximately one million residents in the Makkah Al-Mukarramah and Al-Baha regions. Project Scope: The contract encompasses design, procurement, construction, testing, and commissioning of the plant, along with advanced automation systems and a solar power facility. Financial Details: This large order is valued between Rs 2,500 crore and Rs 5,000 crore, marking L&T's second desalination project in Saudi Arabia. Strategic Expansion: This deal reinforces L&T's growing p...

Equity mutual funds  experienced a net inflow of  Rs 29,303 crore  in February 2025, marking a  26% decline  from  Rs 39,688 crore  in January. This decline is attributed to ongoing  market volatility , with the BSE Sensex and Nifty 50 both experiencing significant drops. Debt funds , on the other hand, saw a net outflow of  Rs 6,526 crore , reversing the previous month's inflow of  Rs 1.28 lakh crore . Notably, sectoral and thematic funds attracted the highest inflows at  Rs 5,711 crore , followed by flexi-cap funds with  Rs 5,104 crore . Small-cap and mid-cap funds faced substantial declines in inflows, dropping  35%  and  34% , respectively. Despite the downturn, net equity inflows remain positive for the  48th consecutive month , indicating continued investor confidence. The total assets under management (AUM) of the mutual fund industry fell by  4% , reaching  Rs 64.26 lakh crore  in Febr...

 Reliance Jio added approximately 39 lakh wireless subscribers in December 2024, significantly increasing from 12.1 lakh in November, according to TRAI data. Bharti Airtel gained around 10.33 lakh subscribers during the same month, reversing a previous loss of 11.4 lakh in November. Vodafone Idea (Vi) faced a substantial decline, losing about 17 lakh subscribers, an increase from a loss of 15 lakh the prior month.  Bharat Sanchar Nigam Ltd. (BSNL) also reported a loss of around 3 lakh subscribers, dropping its total to approximately 3.11 crore.  The total wireless subscriber base in India rose by about 20.1 lakh in December, marking a recovery from November’s net loss of 17.7 lakh.  As of December 31, 2024, Jio's subscriber base stood at approximately 476.58 million, Airtel at 289.31 million, and Vi at 126.38 million. Jio continues to dominate the wireless market with a significant share, while BSNL and Vi struggle to maintain their subscriber bas...

Indusind shares melted on March 11, 2025, marking their worst trading day ever, closing at ₹655.95. The decline followed the bank's disclosure of accounting discrepancies in its derivatives portfolio, which raised concerns about its financial health. An internal review revealed that these discrepancies could lead to an estimated 2.35% reduction in the bank's net worth, approximately ₹1,600-2,000 crore as of December 2024. This revelation was prompted by new guidelines from the Reserve Bank of India (RBI) issued in September 2023 regarding the classification and valuation of investment portfolios. Analysts have expressed concerns over weak internal controls and governance issues within the bank, prompting several brokerages to downgrade their stock ratings. The stock has lost over 37% in the past six months , with a significant drop of 16% in just the last four weeks. In response to the situation, IndusInd Bank has initiated an independent review by an e...

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop renewable energy projects with a capacity of up to 7 GW. The projects will include solar, wind, and hybrid energy solutions, with or without storage, aimed at bolstering the state’s clean energy infrastructure. The estimated investment for these projects is ₹49,000 crore, making it one of the largest renewable energy investments in Andhra Pradesh. These initiatives will contribute significantly to Andhra Pradesh’s clean energy goals while fostering economic growth, skill development, and employment opportunities in the region. Deepesh Nanda, CEO & MD of TPREL, emphasized that the partnership will strengthen Andhra Pradesh’s position as a renewable energy hub and accelerate India’s transition to a low-carbon economy