Auto create nodes from external RSS source The scenario I am trying to fulfil is the automatic creation of Drupal nodes from an RSS list.

At the initial execution of cron, the module, custom/contributed, should parse some remote RSS and for each entry in the RSS a Drupal node with matching title, body etc is created.

The next hour when cron fires, any matching content previously created is ignored. Only when there is a new entry in the RSS should new node(s) be created.

Is there an existing module for doing what I have described above?
OR,
Can anyone direct me on how best to implement such a service?

Thanks.
The feeds module can 'Import or aggregate RSS/Atom feeds'.
https://www.drupal.org/project/feeds

You can set how often it imports and map to fields.

Here's a guide on how to create/edit importers:
https://www.drupal.org/node/638804