The Financial Services Departments has asked public sector banks, insurance companies, financial institutions and regional rural banks to replaced petrol and diesel vehicles hired by them in their head offices and branch offices by electric cars as far as possible,” said the order.
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piranka
The Financial Services Department on Monday instructed public sector banks, insurance companies, financial institutions and regional rural banks to implement cost-cutting measures.“Austerity measures are being implemented to rationalise expenditure keeping in mind the West Asia crisis,” said a senior official while confirming the issuance of the circular dated May 18. Under the new measures, all meetings, reviews and consultations must be conducted via video conferencing unless physical presence is deemed essential, said the circular, which was seen by businessline.Foreign travel by top executives of organisations, including chairpersons, managing directors and chief executive officers, should be kept below prescribed limits, with overseas engagements to be attended virtually wherever possible, it said. Separately, the government has asked the organisations to accelerate adoption of electric vehicles.“All organisations may aim at replacing petrol and diesel vehicles hired by them in their head offices and branch offices by electric cars as far as possible,” said the order.The move follows a call last week by Prime Minister Narendra Modi urging officials to follow austerity and exercise restraint in spending as the government braces for the economic fallout from rising global tensions. A prolonged conflict in West Asia slows down growth, stoking inflation and straining balance of payments, with the Indian rupee already at record lows as Asia‘s worst performer this year.Meanwhile, the Capacity Building Commission under the Department of Personal & Training (DopT) has issued a roster of resources to permit staff work-from-home for up to two days per week. “The effort would be to ensure at least half of the staff are available in the office,” said the order. Further, those working from home must be available on phone and be ready to attend office as and when required.Supreme Court measuresKeeping this office memorandum in mind, the Supreme Court has implemented some measures. Accordingly, matters listed on miscellaneous days (Mondays, Fridays, or such other days as declared to be miscellaneous), and those listed during the court’s partial working days, will only be heard by video-conferencing.Also, to ensure optimum utilisation of fuel, the judges of the Supreme Court have unanimously resolved to encourage car-pooling arrangements among themselves. At the same time, till further orders, up to 50 per cent of staff in each branch/section of the registry are permitted to work from home for up to two days per week, provided that the remaining staff remain available in the office to ensure uninterrupted functioning, said a circular by the top court.Published on May 18, 2026
