BSE Private Banks Index

Paytm, SBI, YES, ICICI Bank shares rally after govt introduces 0.4% MDR on merchant UPI payments

ICICI Bank shares rallied after the government introduced a 0.4% Merchant Discount Rate (MDR) on UPI payments exceeding ₹2,000 made to merchants, effective October 15. This new charge is expected to create a significant revenue pool for banks and payment players. Analysts estimate the banking system could accrue roughly 60% of an incremental annual ecosystem revenue pool of ₹16,000–17,000 crore.

ICICI Bank Ltd Stock (IBN) Opened Down by 3.08% on Sep 15: Facts Behind the Movement

ICICI Bank Ltd (IBN) stock opened down by 3.08% due to broader macroeconomic headwinds affecting emerging markets. Increased crude oil prices, elevated U.S. Treasury yields, and a strong U.S. dollar led to foreign investor outflows from Indian equities. Concerns over net interest margin compression from deposit competition also contributed to the decline.

CBI files charge sheet against IFoS officer Navneet Srivastava in CREST-IDFC First Bank fraud case

The CBI filed a supplementary charge sheet against IFoS officer Navneet Srivastava in the CREST fraud case, alleging Rs 80 lakh of diverted funds were used to purchase land in Goa. The investigation claims Rs 95 lakh was transferred to a company owned by Srivastava's wife and father-in-law, which had no genuine business activity. Bank managers also revealed illegal gratification was delivered to Srivastava via cash couriers.

City Union Bank amends Memorandum and Articles of Association with RBI approval

City Union Bank amended its Memorandum and Articles of Association after receiving approval from the Reserve Bank of India. The changes specify an authorized share capital of Rs. 200 crores, divided into 2 billion equity shares of Re. 1 each. These amendments allow the bank flexibility in managing its capital structure to support growth and operational objectives.