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BusinessHDFC Bank, India's largest private bank, has reduced its Marginal Cost of Funds based Lending Rate (MCLR) by up to 15 basis points on October 7. This decision surprised many, as it came on the same day the Reserve Bank of India increased the repo rate. The move raises questions about whether loans will become cheaper.
News18Hi Business·
PoliticsThe Department of Homeland Security proposed a rule imposing a $70,000 fee on schools for first-time F-1 students participating in the OPT program, and $30,000 for each subsequent OPT authorization, including STEM OPT extensions. DHS clarified this fee is not a backdoor method targeting international students, as schools are responsible for payment, not the students themselves.
TOI World·
BusinessRussia is becoming a major energy partner for India, supplying nearly half of India's oil imports. In 2025, crude oil purchases from Russia exceeded $43 billion. A senior Russian diplomat reported a 25% increase in deliveries during the first half of 2026. Both countries are also exploring joint investments in oil, gas, and nuclear energy sectors.
Economic Times·
BusinessIraq's Central Bank has devalued the dinar from 1,300 to 1,500 per US dollar following a Cabinet meeting addressing economic and monetary challenges. The move aims to bridge the gap between official and market rates, which widened due to regional conflicts disrupting oil shipping routes. The market rate surged further after the announcement, highlighting ongoing economic difficulties.
ET Markets·
PoliticsThe Karnataka High Court has directed all family courts to replace the term 'visitation' with 'parenting time' in child custody cases under the Guardian and Wards Act. Justice Lalitha Kanneganti emphasized that no parent is a visitor in a child's life. The court issued this interim order during a custody dispute involving a nine-year-old boy and instructed the Registrar General to circulate the directive to all family courts.
Deccan Herald··Bengaluru
PoliticsRahul Gandhi and I.N.D.I.A. MPs clashed with police in New Delhi for the second day demanding Chief Election Commissioner Gyanesh Kumar's resignation. Priyanka Gandhi Vadra lay on the road during the protest while lawmakers were detained. Police blocked roads near Jantar Mantar to stop an indefinite protest. Rahul Gandhi vowed to continue protesting despite detention after an eight-hour standoff.
Deccan Herald··New Delhi
News18Hi Business·
HDFC Bank, India's largest private bank, has reduced its Marginal Cost of Funds based Lending Rate (MCLR) by up to 15 basis points on October 7. This decision surprised many, as it came on the same day the Reserve Bank of India increased the repo rate. The move raises questions about whether loans will become cheaper.
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