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Oracle layoffs trigger fresh fears for Bengaluru housing market as IT slowdown deepens

Oracle layoffs and a broader IT slowdown are beginning to impact housing demand in Bengaluru as tech professionals delay big home purchases amid job uncertainty.

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Oracle layoff

Layoffs at Oracle have intensified concerns across India’s major technology hubs, with early signs now emerging in the housing markets of cities like Bengaluru, Hyderabad, Pune and NCR, where IT incomes have historically driven residential demand.

The job cuts, which reportedly affected around 12,000 employees in Oracle India, are part of a broader global workforce reduction plan that could total nearly 30,000 roles. The company cited organisational changes and informed affected employees that their roles had been eliminated with immediate effect, with termination emails reportedly sent early Tuesday morning US time.

The development comes at a time when growth in India’s IT services sector is already slowing after two decades of rapid expansion. Market experts say the combination of layoffs, slower hiring and automation is beginning to change financial behaviour among tech professionals, especially when it comes to large housing purchases.

Saurabh Mukherjea of Marcellus Investment Managers said in a podcast that the IT sector is entering a structural slowdown. Between 2005 and 2020, IT services firms grew revenues and headcount at roughly 15 percent annually, but growth has now slowed to around 5 to 6 percent, with hiring tapering off after the Covid period. He noted that the slowdown began even before artificial intelligence became a major factor.

Artificial intelligence is now accelerating the shift. A 2025 report by NITI Aayog estimated that up to 20 percent of jobs in IT services and call centres could be impacted by automation by 2031, adding further uncertainty to hiring trends.

Bengaluru shows early impact

Real estate experts say the first visible spillover is appearing in Bengaluru’s property market. Some technology professionals are reportedly postponing high-value home purchases, while others are choosing lower-cost housing to reduce financial risk.

This shift follows a sharp rise in housing prices between 2021 and 2023 and indicates a change in buyer behaviour rather than a sudden collapse in demand. However, analysts warn that prolonged hiring slowdowns or continued layoffs could weaken housing absorption and increase pressure on existing inventory.

Real estate consultant Vishal Bhargava noted that layoffs tend to affect housing demand in two ways — employees who lose jobs struggle with loan repayments, while those still employed often delay purchases due to fear of job loss.

Financial markets are already reflecting the transition. The Nifty IT index has fallen around 25 percent so far in 2026 as investors adjust growth expectations for the sector.

According to a note by ICICI Direct, the sector may be entering a deflationary phase where automation reduces human effort and compresses revenues linked to billable hours. The note estimates annual revenue deflation of 2 to 3 percent in the near term, with nearly 30 percent of the industry exposed. In a downside scenario, as much as 80 billion dollars of Indian IT revenue could be at risk.

Long-term outlook tied to AI transition

Despite the near-term concerns, the long-term outlook depends on how quickly companies adapt to AI-led services. Estimates suggest that AI-driven services could expand the total addressable market by 300 to 400 billion dollars by 2030.

India’s IT exports contribute roughly 300 billion dollars in foreign exchange, making the sector critical to the country’s economic stability. Any structural shift in the industry is therefore likely to have wider economic implications beyond the technology sector.

A research paper titled The 2028 Global Intelligence Crisis by Citrini Research outlined a hypothetical worst-case scenario in which rapid AI automation could lead to large-scale job losses and financial instability by 2028. The report argued that Indian IT firms could be vulnerable if global clients increasingly shift to AI coding tools available at significantly lower cost.

However, the authors described the scenario as a stress test rather than a base-case forecast. Even so, the report has intensified debate over how quickly IT firms can transition to higher-value AI services and whether the broader economy can absorb the shock if the transition is slow.

For now, early indicators — layoffs, slower hiring and cautious home buying — suggest that the impact of the IT sector’s slowdown is beginning to move beyond the technology industry into the broader economy.

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India News

Ayodhya Ram Mandir donation row: 8 arrested, Champat Rai resigns as Yogi Adityanath vows strict action

The Ayodhya Ram Mandir donation controversy intensified after all eight accused were arrested and trust official Champat Rai resigned on moral grounds.

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Ram Mandir

The alleged embezzlement of donations received at the Ram Mandir in Ayodhya has triggered major developments, with all eight accused named in the FIR now under arrest and senior temple trust officials resigning from their positions. Authorities have said the investigation will continue and anyone found guilty will face strict action.

The First Information Report was registered following recommendations made by a Special Investigation Team (SIT) constituted by the Uttar Pradesh government to probe allegations of irregularities in the handling of donations received at the temple. The complaint was lodged by a member of the Shri Ram Janmabhoomi Teerth Kshetra Trust.

According to officials, the eight accused were associated with the process of counting cash and valuables offered by devotees at the temple. Senior officials confirmed that all those named in the FIR have been arrested and are currently being questioned as part of the ongoing investigation.

Champat Rai and Anil Mishra step down

Amid the growing controversy, Shri Ram Janmabhoomi Teerth Kshetra Trust General Secretary Champat Rai resigned from his post on moral grounds. Trust member Anil Mishra also submitted his resignation, officials confirmed. Their resignations come as scrutiny over the alleged misappropriation of temple donations intensifies.

Yogi Adityanath says guilty will not be spared

Addressing a public meeting in Deoria, Uttar Pradesh Chief Minister Yogi Adityanath said action began immediately after the SIT submitted its report. He asserted that no individual involved in wrongdoing would be exempted from legal action.

The chief minister described Ayodhya as a symbol of faith and said that public sentiments attached to Lord Ram and Sanatan Dharma cannot be compromised. He assured that the government would ensure a fair probe and separate truth from falsehood.

The issue has also sparked political reactions, with opposition leaders questioning the investigation and demanding accountability, while BJP leaders have maintained that strict action will be taken against all those responsible.

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Education

CBSE Class 10 second board result 2026 expected soon; here’s how to check scorecards

CBSE is likely to announce the Class 10 second board examination results soon. Students can check scorecards online using their login credentials.

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Students awaiting the Central Board of Secondary Education (CBSE) Class 10 second board examination results may not have to wait much longer, as the board is expected to announce the scorecards soon. However, CBSE has not yet confirmed the exact date and time for the declaration of results.

More than 6.8 lakh students reportedly appeared for the optional second board examinations conducted from May 15 to May 21, 2026, under the newly introduced two-exam system for Class 10 students. The results are expected to be published on the official portals, including cbseresults.nic.in and cbse.gov.in.

How to check CBSE Class 10 second board result 2026

Once announced, students can access their scorecards by following these steps:

  1. Visit the official CBSE result website, cbseresults.nic.in.
  2. Click on the ‘Secondary School Examination Results 2026 – Phase II’ link.
  3. Enter the required credentials, including roll number, school number and admit card ID.
  4. Submit the details to view the result.
  5. Download and save the scorecard for future reference.

Apart from the official websites, students will also be able to access their marksheets through DigiLocker and the UMANG application. Some reports also suggest that results may be available through SMS services.

Better score to be considered in final marksheet

CBSE has adopted a “best-of-two” policy under the new examination framework. This means that for students who appeared in both phases, the higher score obtained across the two examinations will be considered for the final marksheet and certificate.

The second board examination was optional and primarily intended to offer students an opportunity to improve their performance without waiting for a separate improvement examination cycle.

Students are advised to regularly check official CBSE websites for authenticated updates regarding the result announcement.

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India News

Several injured after powerful explosion rocks apartment building in Agartala

A powerful explosion at an apartment complex in Agartala injured several people and caused extensive damage, prompting an investigation by police and forensic experts.

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Several people were injured and extensive property damage was reported after a powerful explosion struck an apartment building in Tripura’s capital, Agartala, on Wednesday. Authorities have launched an investigation to determine the exact cause of the blast.

The incident occurred around noon at NS Apartment near Sankat Chowmuhani in Agartala. Police said they received information about a loud explosion-like sound from the residential building and immediately dispatched emergency teams to the site. Fire service personnel and bomb squad officials also reached the location soon after being alerted.

According to officials, the explosion is believed to have originated on the first floor of the apartment complex. The blast shattered windows and caused significant structural damage, creating panic among residents living in the building.

Investigation underway to ascertain cause

SDPO Deba Prasad Roy said authorities are examining the circumstances surrounding the incident and are working to identify the source of the explosion. Emergency response agencies have begun a detailed inspection of the premises.

Residents recalled hearing a deafening sound before discovering that portions of the first floor had been severely damaged. Several occupants sustained injuries in the incident. A woman reportedly suffered serious injuries after being hit by glass fragments near her eye and was shifted to GB Hospital for treatment. Another individual present on the first floor at the time of the explosion also sustained injuries.

Officials have not yet confirmed the cause of the blast. While some residents suspect a gas-related accident, investigators have not ruled out other possibilities. Police and forensic experts are continuing their probe, and authorities said the exact cause would be established after the investigation is completed.

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