Hi, I have a little problem related to WordPress, look at screenshot first: Here!

On the main page I just want to edit that link and also its title from Business Business News to Business news. As you can see in Image I marked it with red arrow. I am using a custom template and and trying to find main index file so I can edit this for homepage of website.

You say it's a Wordpress site, so I asume you can edit that title and link via the WP-admin instead of your code editor. WordPress is after all a content management system.

Look! You don't have to edit a file, you'll have to edit via wp-admin. You do have access to wp-admin, right? Example: www.yourdomain.com/wp-admin/

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How did you enter Business Business News in the first place? You must have assigned it yourself? Or is there a lot you're not telling us? Due to vast possibilities with different post types, categories, taxonomies, different content sections - the heading could be anywhere - possibly hidden away, not even reachable by theme options / customization. You need to provide more info. You say custom theme - all themes are custom I suppose (except the twenty-* series). Are you referring to child themes?

commented: "How did you enter Business Business News in the first place?" - The Million Dollar Question +7

When I was in admin panel. I goto pages there I saw only two pages one is Contact Us and other is Archive. There was no hompage to edit.

Good Day ! You say when you go into Pages you can not find this particular page and or file. How did you create this file. Did you go into wp-admin and click on pages and select a new page and use the editor to create a wordpress page ? Did you copy this page from another website ? Did you create this page using a html editor or code ?
If you used html you need to use a html editor and search for that text and change it, then save the file. But this will not run under wordpress.

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Sounds like a post category name. What is the name for the post category?