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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
India's men's team suffered a 0-3 defeat to Malaysia in the regu event of the Asian Games sepaktakraw competition.
India's women's hockey team secured a resounding 20-1 victory over Thailand at the Asian Games, with drag-flicker Deepika Sehrawat setting a new record by scoring nine goals in a single match. This marked India's third consecutive win in Pool B, maintaining their top position ahead of their upcoming match against hosts Japan.
Indian debutant Paritosh has qualified for the quarterfinals of the Puyo Puyo Champions esports event at the Asian Games. He finished third in Group B with two wins and two losses, securing his spot in the next round.
India's women's hockey team secured a resounding 20-1 victory over Thailand at the Asian Games, with drag-flicker Deepika Sehrawat setting a new record by scoring nine goals in a single match. This marked India's third consecutive win in Pool B, maintaining their top position ahead of their upcoming match against hosts Japan.
Indian swimmer Benedicton Rohit finished joint-12th in the men's 50m butterfly heats at the Asian Games, narrowly missing a final spot.
India's canoeing team concluded its Asian Games campaign without securing any medals, a decline from their bronze-medal performance in the previous Hangzhou edition. The absence of the men's canoe double 1000m event, where India previously medalled, impacted their prospects.
India's women's chess team, led by B Savitha Shri, secured a 2-2 draw against Kazakhstan at the Chess Olympiad in Samarkand. The men's team also drew 2-2 against Azerbaijan. These results keep both Indian teams in contention, though defending the title appears challenging with China leading the women's section and Germany joining Uzbekistan at the top in the open section.
India's six-member League of Legends team, featuring a blend of experienced and new players, is set to compete at the Asian Games 2026 in Aichi-Nagoya, Japan. They are placed in a challenging Group B alongside defending champions South Korea, Chinese Taipei, and Hong Kong, with the tournament running from September 29 to October 2.
President Droupadi Murmu has returned the West Bengal government's proposed anti-goonda bill for reconsideration. The objection stems from a provision in the bill that may overlap with a central anti-narcotics law, specifically concerning offences under the NDPS Act, 1985, and the PITNDPS Act, 1988. This raises concerns about potential duplication and repugnancy under Article 254 of the Constitution.
The Indian women's hockey team secured its fourth consecutive victory at the Asian Games, defeating hosts Japan 3-1, a win that virtually guarantees them a semi-final berth.
Aishwarya, daughter of BJP MLA B Suresh Gowda, has publicly apologised to a woman police sub-inspector whom she slapped at a temple in Mandya. The apology comes after the High Court directed her to do so before applying for bail in connection with the incident, which occurred on August 12 and went viral via CCTV footage. An FIR was registered against Aishwarya for assault and obstructing duty, while she also filed a counter-complaint.
India's men's 4x100m medley relay team finished last in the final at the Asian Games, clocking 3:44.26. Earlier, Aryan Nehra placed fourth in the 1500m freestyle Final B.
Tata Sons has provided Tata Trusts with three legal opinions, including those from former Supreme Court judges BN Srikrishna and UU Lalit, to assert the validity of N Chandrasekaran's reappointment as chairman for another five years, following queries from Tata Trusts regarding the September 17 board meeting resolution.
India will take on Pakistan in the table tennis men's and women's team event at the Asian Games on Monday.
Indian paddlers concluded their Asian Games canoeing campaign without securing any medals, falling short of their previous performance at the Hangzhou edition.
Left-arm spinner Shams Mulani's impressive match-haul of 7/124, including three wickets in the second innings, propelled India A to a commanding 162-run victory over Australia A in the first unofficial Test at the CAP-Siechem Stadium in Puducherry.
India's men's team regu in sepak takraw failed to advance to the semifinals at the Asian Games despite a 2-1 victory over the Philippines. A 3-0 win was required for qualification, but a tiebreak favoured Japan, leading to India's exit from the tournament.
India A, led by skipper Devdutt Padikkal's fifty and Kumar Kushagra's unbeaten 46, set Australia A a challenging target of 363 runs on day three of their four-day match in Puducherry. Australia A ended the day at 55/2, needing 308 more runs to win.
A government school teacher in Jammu and Kashmir's Kishtwar district has been dismissed from service following his alleged involvement in the rape and subsequent death of a 15-year-old girl. The dismissal was enacted under Article 311(2)(b) of the Constitution, with authorities citing the case as "rarest of the rare."
