Biz Updates: Air India CEO and personnel will now travel economy class; Now weekly reporting of wheat stocks
New Delhi| Under the new travel policy for employees, Air India CEOs, top executives and senior commanders will travel in economy class in Indian cities. The new policy will be implemented in a phased manner from next month. For top management (vice president and top) this policy will be effective from 1 April, while for senior commanders it will be effective from 1 June. An Air India spokesperson said, with this policy we want to ensure that our premium seats (business and premium economy) are available to our customers for first booking. This initiative showcases the customer-centric culture in the new Air India. On the other hand, a source said that the policy also provides an upgrade option, which can be availed if the business or premium category seat is not sold or remains vacant till 50 minutes before the departure of the flight.
Now weekly reporting of wheat stocks is mandatory
The central government has made weekly reporting of wheat stocks mandatory to crack down on market speculation. As part of the strategy to manage food security and curb market speculation, from April 1, traders, wholesalers and retailers of all states and union territories will have to provide information about their wheat stock on the online portal. According to the official statement issued regarding mandatory weekly wheat stock reporting, all legal entities will have to provide information every Friday until further notice. The Food and Public Distribution Department will work to control prices. The government will also closely monitor the disclosures to ensure continued availability of wheat across the country.
Fee of Rs 19 from May 1 for withdrawing amount after free withdrawal limit from ATM
Withdrawal of money from ATM will become expensive from May 1. Customers will have to pay an additional Rs 2 for each transaction after the free withdrawal limit. That is, instead of Rs 17, there will be a charge of Rs 19 for every withdrawal. This will affect customers who use ATMs frequently. According to the notification issued by the Reserve Bank of India (RBI) on Tuesday, the limit for free cash withdrawal from ATMs of different banks is fixed. In metro cities, customers can withdraw money from their bank’s ATM five times in a month and from another bank’s ATM three times without any fee. After this additional fee is payable. What is ATM Interchange Fee – This is the fee that one bank pays to another bank for ATM service. This fee is a fixed amount on every transaction. This is often added as customers’ banking costs. You will have to pay seven rupees to check the balance – From May 1, the fee for non-financial work like balance checking will also increase by one rupee. There will be a charge of Rs 7 each time to check account balance at ATM, which is currently Rs 6.
IndusInd Bank’s investigation report to release on Friday
PwC is likely to submit a report to the bank board on Friday regarding audit discrepancies in IndusInd Bank’s derivatives portfolio. The bank is expected to mention the exact loss in the report. The bank had anticipated an impact of 2,100 crore.
S&P cuts growth rate forecast for 2025-26, now 6.5 percent
S&P Global Ratings has reduced India’s economic growth forecast for the next financial year i.e. 2025-26 from 6.7 per cent to 6.5 per cent. The agency predicts that economies in the Asia-Pacific region will feel pressure on rising U.S. tariffs and globalization. Despite these pressures, domestic demand momentum will remain strong in most emerging economies, the agency said on Tuesday. The upcoming monsoon season will be normal and commodity prices, especially crude oil, will remain soft. Reduction in food inflation March, tax benefits announced in the budget and lower borrowing costs will boost discretionary consumption in India.
Possible cut in interest rates by up to one percent
RBI will cut interest rates by 0.75 per cent to one per cent in the current cycle, S&P said. Due to food inflation and fall in crude oil prices, core inflation will come close to the central bank’s target of four percent in the next financial year.
7.81 lakh SIMs linked to digital fraud were shut down
Law enforcement agencies closed more than 7.81 SIM cards linked to digital fraud and blocked 2,08,469 IMEI numbers as of Feb. 28 this year, the government told the Lok Sabha. The Indian Cyber Crime Coordination Centre (I4 C) has blocked more than 3,962 Skype IDs and 83,668 WhatsApp accounts used for digital arrests, said Union Minister of State for Home Bandi Sanjay Kumar.
