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ICICI Bank has reported a remarkable 20.1 percent surge in standalone net profit for Q2 of FY 2026-27. This impressive performance is further highlighted by a 22.28 percent increase in consolidated net profit, which reached Rs 16,333.18 crore. Year-on-year, net interest income rose by 17.7 percent, alongside significant growth in advances and deposits, while asset quality improved with a drop in the gross non-performing asset ratio to 1.20 percent.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/pT3ycnM
HDFC Bank's Deputy Managing Director, Kaizad Bharucha, has announced his resignation, effective December 31. This move precedes Anup Bagchi's appointment as the new Managing Director and CEO. In the latest reports, HDFC Bank has demonstrated remarkable profitability shifts this July to September, reflecting improved asset quality and a surge in net profit. Bharucha's resignation awaits approval from the Reserve Bank of India, as it has been accepted by the board.
In a recent case before the ITAT Mumbai, the Income Tax Department carried out searches at a woman's residence and bank lockers, and seized diamonds, gold and silver articles, along with jewellery, which it treated as unexplained assets. The seized items included gold jewellery of 427.71 grams, 258 grams of pure gold, diamond-studded jewellery containing 161.33 grams of gold, and articles made of a silver mixture weighing 11.200 kg.
On Friday, the Rupee showcased a solid performance, climbing 20 paise to hit 94.79 against the US dollar, building on gains from the previous day aided by a softer dollar and actions by the Reserve Bank of India. Nevertheless, escalating crude oil prices curtailed further advancements, even as domestic equities remained upbeat.
MD & CEO Sharma May Continue At The Helm
Wall Street faced a noticeable dip in stock prices following a surprise rise in inflation data, which has raised concerns over borrowing costs. As Treasury yields soared, investors pondered the shifting allure between equities and bonds. Major banks explored both the potential gains and risks tied to investments in the artificial intelligence sector. Although AI infrastructure is evolving, rising interest rates could jeopardize project success and returns.
In 2022, the woman applied for 130 shares in an IPO. However, the bank recorded her application for just 65 shares, which she claimed resulted in a loss of Rs 42,142. She also accused the bank of causing her physical and mental harassment. The Gujarat State Consumer Disputes Redressal Commission subsequently partly allowed the woman’s appeal.
Gold price prediction today: Gold prices are trading cautiously, influenced by high US yields and the dollar index. Investors are still purchasing gold despite challenges in the physical market and slowed central bank acquisitions. The upcoming US September CPI is pivotal for the Federal Reserve's actions regarding interest rates.
Stock market recommendations:Bank of India, GAIL, and Dabur India - these are the top stocks to sell today as picked by Somil Mehta, Head of Retail Research, Mirae Asset ShareKhan for October 13, 2026. 
In a significant turnaround, the Rupee gained ground against the US dollar, settling at 94.96 as a result of strategic interventions by the Reserve Bank of India. These measures aimed at reducing excessive demand for dollars positively influenced the forex market, contributing to a decline in the dollar index and modestly lower oil prices.
India is projected to maintain a robust growth rate of 7% in both 2026 and 2027, bolstered by strong domestic demand and a thriving services sector, according to the International Monetary Fund. Positive revisions from the World Bank and OECD highlight resilience amid consumption patterns. However, challenges such as rising energy prices and geopolitical tensions could impact this trajectory, yet India's economic growth remains strong compared to other major nations.
Initially, the FD earned interest at rates of 7.75%, 8.25% and 7.75% over different periods. However, from January 30, 2018, the bank lowered the rate to 3.5%. Challenging the reduction, the deposit holder approached the court again, arguing that the bank had cut the interest rate without any valid reason or justification.
The study recommends setting the MDR share for TPAPs at 0.06%, lower than the 0.08% proposed by the National Payments Corporation of India (NPCI), while keeping the PSP share unchanged at 0.02%. Under the existing arrangement, banks that issue and acquire transactions collectively receive the bulk of the revenue, with a 70% share split between them
Reserve Bank of India has introduced new measures aimed at stabilizing the Indian rupee against the dollar. These changes include tighter restrictions on foreign exchange derivatives and new reserve requirements for banks. Analysts expect these measures to ease rupee depreciation and lower speculative dollar demand temporarily. However, external factors like high crude oil prices may continue influencing the currency's stability.
Anticipation is high in Indian stock markets as volatility and consolidation loom, particularly with September's inflation data on the horizon. These figures will shed light on price movements and may sway the Reserve Bank of India's policy decisions. The week also promises notable quarterly earnings from key corporations, adding another layer of influence on market behavior.
