Banking

Yes Bank has responded to Axis Trustee Services' notice but rejected allegations of deliberate non-compliance. The lender said its review of the legal and operational implications was aimed at ensuring proper implementation of the Supreme Court's judgment.

Punjab National Bank has increased its MCLR by 10 basis points across all six tenures, effective November 1, 2026. The one-year MCLR now stands at 8.90%, while the three-year rate has increased to 9.20%.

PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.

The sharp correction comes despite Equitas SFB reporting a strong set of Q2 FY27 results, with net profit surging more than ninefold year-on-year to Rs 218 crore.

For Indian stock market investors, the bigger question is whether the Fed's pause can support global risk appetite or whether the prospect of higher US interest rates will keep foreign fund flows under pressure.

Stock Market Highlights: Among individual stocks, L&T, Trent, and SBI were among the top gainers, while RIL, Infosys and Tech Mahindra emerged as the top laggards.

On October 1, the Reserve Bank of India (RBI) approved Bagchi's appointment as MD and CEO of HDFC Bank for a three-year term beginning October 27. An ICICI Bank veteran, Bagchi was previously the MD and CEO of ICICI Prudential Life Insurance.

Anup Bagchi takes over as MD & CEO after serving in senior leadership roles in the financial services industry. Before joining HDFC Bank's top leadership, he was associated with ICICI Bank and ICICI Prudential Life Insurance, bringing experience across banking, lending and insurance.

Dr. Reddy's Laboratories delivered a sharp margin recovery and beat profit expectations despite largely in-line revenue. Brokerages highlighted operating efficiencies and a stronger product mix, while identifying semaglutide supplies and abatacept approval as key catalysts for the coming quarters.

The facility in Odisha will host critical payment and settlement systems, while a dedicated cybersecurity institute will focus on training, research and technology capabilities.

Zero-balance savings accounts offer flexibility without minimum balance requirements but may include fees for cards and transactions. IDFC FIRST Bank's Quantum+ stands out with up to 7% interest.

Sambhv Steel Tubes plans to raise finished product capacity from 0.6 million tonnes to 2 million tonnes a year by 2030, with stainless steel at the centre of its expansion. Higher realisations and captive power savings could improve profitability, but rising debt and the pace of capacity utilisation will shape returns.