US Vice President J D Vance has labelled the H-1B visa programme as "completely broken" and expressed support for its total abolition. He argues that corporations exploit the system to replace American workers with cheaper international staff, rather than bringing in elite talent. Vance also defended the controversial $100,000 levy on certain H-1B petitions, viewing it as a deterrent against cost-cutting exploitation.
Public and private sector banks in India experienced significant deposit growth in the July-September quarter of FY27, largely propelled by foreign currency non-resident (bank), or FCNR(B), deposits mobilised under the Reserve Bank of India's concessional swap window, which closed on August 31.
Mumbai police questioned IIT Bombay professor Suryanarayana Doolla for nearly 10 hours regarding the alleged suicide of student Sahil Wakode. Doolla denies allegations of harassment and caste-based discrimination. Wakode was found dead after being caught using ChatGPT during an exam. An FIR has been filed against Doolla, and the crime branch is investigating, having recorded statements from around 40 people.
US President Donald Trump has extended the USD 100,000 fee on employers for H-1B foreign workers for another year, citing a significant decrease in registrations from large IT outsourcing firms. This move, aimed at protecting American jobs and ensuring highly-skilled workers, also includes a separate proclamation for enhanced scrutiny of H-1B applications, particularly concerning potential layoffs of US workers.
The parents of IIT Bombay student Sahil Wakode, who allegedly died by suicide, are continuing their hunger strike, demanding the arrest of Professor Suryanarayana Doolla and institute director Shireesh B Kedare. They allege caste discrimination and abetment to suicide, while police investigate the case, recording statements and analyzing electronic devices.
A national study of top 75 Indian B-schools reveals a significant competency gap in AI skills among management graduates, with industry expectations far exceeding current MBA capabilities. A new framework by AIMS, EPSI, and IMC highlights the urgent need for management education to adapt to an AI-led workplace, emphasizing behavioural competencies alongside data fluency.
India's deposit growth has reached a 15-year high of 17.8 per cent, primarily driven by a surge in foreign currency non-resident (bank), or FCNR(B), deposits. This influx of funds is expected to lead to a softening of corporate loan rates as banks seek to deploy their excess liquidity.
RBI Deputy Governor Rohit Jain highlighted that banks are well-positioned to deploy $133 billion mobilised through FCNR(B) deposits, especially with strong credit demand ahead of the festival season, while also stressing the importance of robust technology governance and cyber defences in the financial sector.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
The US Department of Homeland Security (DHS) has proposed a new rule to eliminate the 60-day grace period for H-1B visa holders and other nonimmigrants after job loss, a move expected to significantly impact Indian technology workers.
Axis Bank MD & CEO Amitabh Chaudhry has cautioned that the surge in FCNR(B) deposits could lead to 'abnormal lending' as banks seek to deploy excess liquidity, while also hinting at a potential interest rate hike in the near future.
The father of an IIT Bombay student who died by suicide has alleged that his son faced relentless caste-based mocking and torture from a professor and the administration. A police complaint has been filed, and an FIR registered against a professor for abetment of suicide and under the SC/ST Act. IIT Bombay has removed a Dean from his post following the allegations.
IIT Bombay has removed Suryanarayana Doolla, Dean of Administrative Affairs, from his post and issued a public apology following the death by suicide of 22-year-old student Sahil Wakode, who his parents allege faced caste-based discrimination.
Indian banks anticipate a reduction of up to 50 basis points in their funding costs due to a surge in liquidity from robust Foreign Currency Non-Resident (Bank), or FCNR (B), flows, lessening their reliance on more expensive certificates of deposit (CDs).
The US Department of Homeland Security has proposed an additional fee of USD 103,265 for all H-1B visa cap-subject applications, including those eligible for the advanced degree exemption. This new fee aims to recover interagency costs for immigration programmes and would be paid in addition to existing fees. The proposal is open for public comments for 30 days and has drawn criticism from immigration advocates.
The parents of IIT Bombay student Sahil Wakode, who allegedly died by suicide, have begun a hunger strike demanding action against those they accuse of tormenting their son due to caste discrimination. The institute has deferred mid-semester examinations and reissued an apology for an earlier statement regarding the circumstances of his death.
Indian IT companies have significantly reduced their fresh H-1B visa applications for US FY27, a direct consequence of soaring fees imposed by the Trump administration and new lottery system changes that prioritise higher-salaried employees, leading to a seven-year low in registrations.
Police are investigating the suicide of IIT Bombay student Sahil Wakode, who died hours after being caught allegedly copying in an exam. The probe includes examining his phone calls expressing remorse and allegations of caste discrimination made by his family against a professor. Digital evidence and CCTV footage are being analysed to reconstruct the sequence of events.
The Board of Control for Cricket in India (BCCI) and the Asian Cricket Council (ACC) are reportedly dissatisfied with the arrangements and facilities for the upcoming Asian Games cricket tournament in Aichi-Nagoya, Japan. Concerns include inadequate dressing rooms, distant washrooms, and small hotel rooms. As a result, India might send a 'B' team instead of the previously announced full-strength squad, pending a report from a BCCI observer.
The IIT Bombay Faculty Forum has expressed strong solidarity with Professor Suryanarayana Doolla, who was invigilating an exam where a student was found using a smartphone, an incident preceding the student's death by alleged suicide.
Congress leader Rahul Gandhi spoke to the parents of Sahil Wakode, an IIT Bombay student who died by suicide, assuring them support in their quest for justice. Sahil's death is under police investigation, with allegations of caste discrimination against a faculty member who has been sent on leave. Sahil's parents plan an indefinite hunger strike.
Private banks in India are aggressively mobilising Foreign Currency Non-Resident (Bank), or FCNR(B), deposits by raising interest rates and using website countdowns, as the Reserve Bank of India's swap window is set to close on August 31, earlier than initially planned.
The parents of IIT Bombay student Sahil Wakode, who died by suicide, spent eight hours at the Mumbai Crime Branch office, while Union Minister Ramdas Athawale visited IIT Bombay, seeking a thorough investigation into the death and alleging potential caste discrimination.
The mother of Sahil Ravindra Wakode, a 22-year-old IIT Bombay student found dead in his hostel room, has alleged her son was "tortured" and "killed," demanding justice, while the institute stated no disciplinary action was initiated against him after he was found using a mobile phone during an exam.
India's MOBA (League of Legends) esports team has been eliminated from the Asian Games after losing all three of their group B matches. The team finished last in their group, failing to qualify for the semifinals.
The Reserve Bank of India's outstanding net short dollar position in the forward book surged to a record $200.06 billion at August-end, up from $136.77 billion at July-end, primarily driven by FCNR(B) flows.
The Reserve Bank of India (RBI) has prematurely closed its swap facility for foreign currency non-resident (bank) deposits, FCNR(B), one month ahead of schedule, after banks mobilised $52.3 billion under the scheme by August 13, indicating sufficient foreign currency reserves.
The Karnataka government has significantly increased cash awards for Asian Games medallists, with gold winners now receiving Rs 1 crore. Additionally, all 20 participating athletes received a Rs 5 lakh incentive. The state also announced direct recruitment opportunities for Group-B posts and a 2% reservation in government jobs for accomplished sportspersons, alongside financial support for Olympic preparation under the 'Guri: Olympics' scheme.
The Indian women's doubles sepaktakraw team experienced two defeats in Group B at the Asian Games, losing to South Korea and the Philippines. This follows the men's team's failure to reach the semifinals in their event.
Tanmay Baloda's exceptional 10-wicket match haul has put India in a commanding position against Australia in their second Youth Test in Ahmedabad. Baloda followed his first innings 6/32 with 4/26 in the second, leaving Australia U-19 trailing by 55 runs. Half-centuries from Yashbardhan Chauhan and Abhipray Biswas also contributed to India's strong first innings total.
Infrastructure major Larsen & Toubro (L&T) has secured a mega order, valued between Rs 10,000 and Rs 15,000 crore, to construct India's largest single-cluster artificial intelligence (AI) infrastructure facility. This strategic move marks L&T's entry into the AI Factory business, aiming to establish an NVIDIA B300-based AI Factory in Chennai to power the AI-native cloud platform of US-based Together AI, thereby strengthening India's AI ecosystem and supporting global innovation.
The Indian men's quadrant Sepaktakraw team secured a bronze medal at the Asian Games in Nagoya after a hard-fought 0-2 loss to hosts Japan in the semifinals. The team had an impressive run, topping their group, while the Indian women's team faced a defeat against Thailand.
The Indian women's hockey team secured their spot in the Asian Games semifinals by defeating Singapore 7-0 in their final Pool B match. Sunelita Toppo scored two goals, leading India to top their pool with a perfect record.
The Economic Offences Wing (EOW) of the Crime Branch Jammu has filed a chargesheet against two individuals, Manoj Kumar and Vikram Singh, in a financial fraud case involving over Rs 1.22 crore collected from investors in Samba district. The accused allegedly induced residents to invest in schemes from unregistered or de-registered NBFCs, promising high returns but failing to deliver.
Police in Bengaluru have registered a case against two Booth Level Agents (BLAs) and others for allegedly submitting fraudulent Form 7 applications to delete 5,698 voters from the electoral rolls in the Jayanagar Assembly constituency. The complaint, filed by Karnataka Mahila Congress president Sowmya Reddy, claims the BLAs are affiliated with the BJP and targeted minority communities and politically unfavourable voters.
Non-resident Indian (NRI) deposit schemes witnessed a staggering 678.2 per cent increase, reaching $36.24 billion in the April-July period of FY27, primarily driven by strong FCNR(B) deposit flows and a concessional swap facility introduced by the RBI.
The ICC has announced the schedule for the men's World Cup, detailing India's opening match against Australia, a crucial clash with Pakistan, and other group stage fixtures, along with the dates and venues for the semi-finals and final.
Zimbabwe is buzzing with excitement to co-host the ODI World Cup next year, marking their return after a 12-year absence. Veteran all-rounder Sikandar Raza and coach Justin Sammons express enthusiasm for playing on home soil and testing themselves against top teams like India, while also highlighting caution regarding Afghanistan's strong "X-factor" players.
India's women's doubles sepaktakraw team, comprising Menenu Tsukru and Leirentonbi Devi Elangbam, failed to qualify for the semifinals at the Asian Games after finishing last in their group, losing to Japan, South Korea, and the Philippines.
A 19-year-old B.Com student, Yogesh, was allegedly stabbed to death in Bengaluru following a quarrel between two groups outside his college. Police are investigating the incident, with four to five suspects involved, though only one has been identified so far.
