Daily Recap: Business — 24 October 2026

Bank earnings set the tone in business news, with Indian lenders posting strong quarterly profit growth as loan books expand and asset quality improves. Elsewhere, governments and companies focus on resilience and restructuring, from France avoiding a ratings hit to digital farm...

IDFC First Bank posts one of the strongest earnings updates of the day, with second-quarter profit after tax surging to ₹1,045 crore, nearly triple a year earlier. Net interest income rises 21% to ₹6,184 crore, total loan assets grow about 30%, and the bank says asset quality improves or remains stable alongside that expansion.

Kotak Mahindra Bank reports a solid September-quarter performance, with consolidated net profit rising about 26% year on year to roughly ₹5,645 crore and standalone profit up about 29% to ₹4,212 crore. Net interest income increases around 16%, while improved asset quality supports the stronger earnings profile.

AU Small Finance Bank reports a 53% jump in quarterly profit to ₹858 crore, extending the strong run for lenders this earnings season. Total income climbs to ₹6,382 crore, and the bank links the gain to higher net interest income and better asset quality, underscoring healthier balance-sheet conditions.

Moody’s leaves France’s sovereign credit rating unchanged, sparing the country an immediate downgrade despite pressure from weak public finances, unrest and political gridlock. The decision offers short-term breathing room for the government and markets, even as the agency signals that concerns over debt and fiscal credibility remain unresolved.

Instacart is exploring a possible sale and has held talks with Uber and DoorDash as it weighs strategic options. The discussions point to renewed consolidation pressure in delivery and online commerce, with Instacart examining whether a larger combination could better position the business after its time as a standalone public company.

The Centre says it has issued 11 crore unique digital IDs to farmers under AgriStack, creating a single identity layer for access to state support and financial services. The Farmer ID is designed to make scheme delivery more transparent and timely, while giving farmers a standardized digital record across programs.

Mark Walter is reported to be seeking a sale of the WNBA’s Los Angeles Sparks, in what outlets describe as part of a broader disposal of assets tied to his sports and investment portfolio. A transaction would put another high-profile women’s sports franchise into play as team valuations continue drawing investor attention.