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.

Man skipped ITR, declared Rs 12.9 lakh income after notice; ITAT cancels 200% penalty
https://timesofindia.indiatimes.com/business/india-business/man-skipped-filing-itr-and-got-tax-notice-so-he-declared-rs-12-9-lakh-income-department-imposed-200-penalty-of-rs-3-99-lakh-on-taxable-amount-but-itat-cancels-it/articleshow/134992210.cms

The man in this case failed to file his income tax return, and the Income Tax Department issued him a notice. He subsequently responded by filing an ITR for assessment year (AY) 2018-19, reporting an income of Rs 12.9 lakh. However, the Income Tax Assessing Officer (AO) took the view that this income would have remained outside the tax net had the department not issued the notice to the man.

The Indian growth story: Why the post-pandemic boom is different
https://timesofindia.indiatimes.com/business/india-business/the-indian-growth-story-why-the-post-pandemic-boom-is-different/articleshow/135015786.cms

India’s economy contracted by 5.8% in 2020 during the pandemic before rebounding with growth of 9.7% in 2021. It then expanded by more than 7% in each of the following four years. If current forecasts hold, India could surpass that record. The IMF has raised its growth projection for India in the current year from 6.4% to 7%.

Russia sanctions waiver buys time for India but offers no lasting certainty: GTRI
https://timesofindia.indiatimes.com/business/international-business/russia-sanctions-waiver-buys-time-for-india-but-offers-no-lasting-certainty-gtri/articleshow/135017208.cms

US President Donald Trump waived tariffs on major buyers of Russian oil, providing temporary relief to India. While the immediate threat of trade penalties has eased, concerns over future tariffs remain. The GTRI suggests that India should focus on buying oil on commercial terms for long-term energy security. Existing sanctions on Russia remain unaffected, and US monitoring of energy purchases will continue.

NRI woman’s FCNR deposits get tax notice as unexplained; ITAT grants relief
https://timesofindia.indiatimes.com/business/india-business/dubai-based-woman-invests-3-41-crore-in-fcnr-deposits-along-with-husband-gets-tax-notice-for-unexplained-money-itat-gives-relief-saying-bank-confirmed-source-and-ao-mistook-yen-for-rupees/articleshow/135016779.cms

A woman, who originally hails from Beawar, and now resides in Dubai, United Arab Emirates (UAE), decided to put money into investments in India. She along with her husband invested Rs 3.41 crore in two Foreign Currency Non-Resident (FCNR) term deposits. The husband’s name appeared as the first holder of both deposits, with the woman listed as the second holder.

Tata Trusts to build institutions, not just fund them: Noel
https://timesofindia.indiatimes.com/business/india-business/tata-trusts-to-build-institutions-not-just-fund-them-noel/articleshow/135022730.cms

Private banks’ profits rise, large lenders see margin pressure
https://timesofindia.indiatimes.com/business/india-business/private-banks-profits-rise-large-lenders-see-margin-pressure/articleshow/135022751.cms

Venezuela signs 61 oil agreements, expects $76 billion in investments over five years
https://timesofindia.indiatimes.com/business/international-business/venezuela-signs-61-oil-agreements-expects-76-billion-in-investments-over-five-years/articleshow/135022743.cms

Venezuela is set to draw approximately $76 billion in foreign investment over the next five years to revitalize its oil sector. The recent agreements with the United States encompass 17 oilfields and plan for the deployment of 250 drilling rigs. Particularly in Zulia state, oil production has surged and is anticipated to keep growing, despite the ongoing hurdles of sanctions and underinvestment.