Cut foreign travel, use more EVs: Finance Ministry’s ‘austerity’ steps for public sector banks & insurers

Circular does not mention the West Asia crisis, but it comes a little more than a week after Prime Minister Narendra Modi exhorted the nation to adopt similar austerity measures. 

May 19, 2026 - 04:30
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Cut foreign travel, use more EVs: Finance Ministry’s ‘austerity’ steps for public sector banks & insurers
Circular does not mention the West Asia crisis, but it comes a little more than a week after Prime Minister Narendra Modi exhorted the nation to adopt similar austerity measures. 

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