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BusinessThe Reserve Bank of India increased the repo rate by 25 basis points to 5.5% after 44 months. This move addresses rising inflation and stronger economic growth. Higher interest rates will increase loan EMIs, affecting festive season consumption. Banks are also expected to raise fixed deposit rates following this policy change.
TOI Business·
PoliticsThe Karnataka High Court granted conditional bail to Srikrishna Ramesh (Sriki) and Robin Khandelwal in a money-laundering case linked to a cryptocurrency scam. Justice S Vishwajit Shetty noted the trial's slow progress due to extensive documents and witnesses. The Enforcement Directorate registered cases in 2020 and 2021, with arrests made in 2026. The ED stated the proceeds of crime are yet to be fully traced.
Deccan Herald··Bengaluru
PoliticsThe Trump administration proposed a new rule requiring nonimmigrant F-1 visa students to pay $70,000 to certified institutions for Optional Practical Training (OPT), which allows on-the-job training. Additionally, students would need to pay $30,000 for any extra work training beyond OPT. This policy aims to regulate work authorization costs for international students in the U.S.
Hindu World·
TechnologyGenerative AI dominates technology, prompting many software engineers to pivot towards AI due to abundant jobs and high salaries. However, choosing AI careers solely for financial gain is risky as tech trends shift rapidly. The industry faces a 'panic-hiring loop' where companies hire AI engineers without clear goals, causing a gap between AI's theoretical value and practical enterprise outcomes.
HT Tech·
PoliticsA special sessions court in Bengaluru has stayed proceedings against Home Minister Priyank Kharge and state youth Congress president Mohammad Haris Nalapad in a defamation case alleging defamatory remarks against RSS. The court had earlier issued summons, but the accused challenged the proceedings, arguing the complainant lacked locus standi as he failed to prove RSS membership. The sessions court stayed the case without giving reasons.
Deccan Herald··Bengaluru
PoliticsKarnataka's Rural Development Minister Eshwar B Khandre announced a temporary hold on the August 13 circular exempting properties on government and forest land from property tax and the e-Swathu 2.0 system. The circular followed state legislation and governor assent. A permanent solution will come after a joint Revenue and Forest department survey and a multi-departmental committee will be formed to resolve the issue.
Deccan Herald··Chikkamagaluru
TOI Business·
The Reserve Bank of India increased the repo rate by 25 basis points to 5.5% after 44 months. This move addresses rising inflation and stronger economic growth. Higher interest rates will increase loan EMIs, affecting festive season consumption. Banks are also expected to raise fixed deposit rates following this policy change.
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