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ICICI Bank reported a 20.1 per cent year-on-year rise in consolidated net profit to Rs 14,843 crore for Q2 FY27, with net interest income up 18 per cent to Rs 25,339 crore.
IDBI Bank reported a 39.2 per cent year-on-year decline in Q2 FY27 net profit to Rs 2,206 crore, hurt by last year's Rs 1,699 crore NSDL gain; NII rose 28.7 per cent.
Punjab National Bank MD & CEO Ashok Chandra said festive demand should lift core retail loan growth to 17-18 per cent this quarter, with MSME credit seen at around 21 per cent.
The Reserve Bank of India approved the amalgamation of Emirates NBD Bank's Indian branches with RBL Bank, effective December 1, 2026, following the Dubai bank's 60 per cent stake acquisition.
Punjab National Bank posted an all-time high net profit of Rs 5,532 crore in Q2 FY27, up 12.8% year-on-year, with MD and CEO Ashok Chandra saying the bank is in no hurry to raise deposit rates.
The Reserve Bank of India has sanctioned the amalgamation of Emirates NBD Bank's Indian branches with RBL Bank, effective December 1, 2026, after the UAE lender took a 60 per cent stake.
RBI data shows foreign currency assets dropped USD 7.142 billion to USD 597.605 billion, while gold reserves fell USD 1.319 billion to USD 105.094 billion in the week ended October 9.
DIPAM Secretary Arunish Chawla said service conditions of existing IDBI Bank employees and pensioners stay unchanged under the Rs 52,878 crore Fairfax share purchase agreement.
The RBI issued FAQs on its 20 per cent Foreign Exchange Risk Reserve, covering the $2 million threshold, rupee-only contracts, ECB hedges and a Rs 19 crore example.
IRDAI Chairman Ajay Seth said the Public Insurance Registry beta is targeted for January 2028, with the Insurance Information Bureau to host it as a not-for-profit company.
Union Bank of India report says RBI could raise rates by 50 bps in December or even between meetings as wholesale inflation hit 11.39% in September.
The Indian rupee strengthened 32 paise to 94.85 against the US dollar in early trade, helped by RBI forex management measures, a softer dollar index and lower Brent crude.
IDBI Bank shares dropped over 7 per cent after the CCEA approved selling a 60.72 per cent stake to Canada Inc., parent Fairfax Financial Holdings, for Rs 52,878 crore.
FM Nirmala Sitharaman said the CCEA-approved IDBI Bank restructuring brings FDI while the government retains a 15 per cent stake and LIC keeps 19 per cent.
Finance Minister Nirmala Sitharaman said the RBI will continue using regulatory tools to limit excessive rupee volatility, not to fix the currency at any particular level.
JM Financial expects the Indian rupee to appreciate to 94-94.5 against the US dollar near term after RBI measures, but crude at USD 104 per barrel could renew pressure.
NPCI said MDR on select Person-to-Merchant UPI transactions will start immediately after Diwali, with the date to be notified separately. Transactions up to Rs 2,000 stay free.
The Indian rupee gained 77 paise to trade at 95.05 against the US dollar, a second straight day of sharp gains after RBI measures to curb dollar demand and speculation.
SBI Research's Ecowrap report urges scrapping long-term capital gains tax on equities and a 2-3 year holding period to attract foreign capital amid FPI outflows.
SBI Research says the rupee could test 94.50 per dollar in the short term, with forex reserves adequate, but flags the need for structural steps to revive capital inflows.
