Actually my problem is, I did mistakenly some unknown action due to which my Desktop Icon's Name has become coloured/Bold in blue.
I need it to do as it was before. Please tell me how it could be done?
I'm not sure, but try this: right-click on the desktop and select Properties. This will open the Display Properties window. Go to the Appearance tab. The Windows and Buttons choice should be Windows XP style, color scheme don't-care, font size normal.
You can also click on Advanced, which will open the Advance Appearance window. From the Item list, select Icon. Mine is Tahoma 8, with both Bold and Italic not chosen.