India has achieved a significant milestone in clean transportation as the country’s first hydrogen-powered train successfully completed more than 1,200 kilometres of trial runs. The project has already saved over 3,200 litres of diesel, according to the Ministry of Railways.

The hydrogen train has been undergoing trial operations between Jind and Sonipat in Haryana since it was flagged off on July 17 under the Centre’s Atmanirbhar Bharat initiative. Following the successful tests, Indian Railways is preparing to begin the next phase of trials on the Delhi route.

Hydrogen fuel cells power the train

Unlike conventional diesel locomotives, the train generates electricity onboard using hydrogen fuel cell technology.

Inside the fuel cells, hydrogen reacts with oxygen to produce electrical energy, which powers the train’s traction motors. The only by-product of this process is water vapour, eliminating harmful exhaust emissions associated with diesel-powered trains.

According to the Railway Ministry, the absence of combustion means the train produces no smoke or tailpipe carbon emissions, making it one of the cleanest rail propulsion technologies available.

Developed entirely by Indian Railways

The hydrogen train has been designed and developed as an indigenous project by Indian Railways.

The train comprises:

• 10 passenger coaches
• 2 Hydrogen Driving Power Cars
• 2,400 kW total power output

Its propulsion system combines hydrogen fuel cells with lithium iron phosphate batteries and onboard hydrogen storage cylinders to ensure efficient and reliable operations.

Railways Minister Ashwini Vaishnaw described the project as a major achievement, highlighting that the technology has been developed within India.

First hydrogen refuelling facility established

As part of the project, Indian Railways has also commissioned its first dedicated hydrogen storage and refuelling facility at Jind, Haryana.

According to the ministry:

• Hydrogen is stored at pressures of up to 500 bar
• Fuel is dispensed at 350 bar
• The facility can store approximately 3,000 kilograms of hydrogen

The infrastructure has been developed to support regular operations of hydrogen-powered trains.

Multiple safety systems installed

The Railway Ministry said several advanced safety mechanisms have been integrated into the train and supporting infrastructure.

Key safety features include:

• Independent hydrogen leak detection systems
• Heat, flame and smoke sensors
• Automatic emergency shut-off systems
• Continuous ventilation systems
• Compliance with international safety standards

Officials said the train has also undergone mandatory technical validation to ensure safe operations under Indian conditions.

Delhi trials planned next

Following the successful Haryana trials, Indian Railways plans to begin testing the hydrogen train on the Delhi route.

The project forms part of India’s broader efforts to build an indigenous hydrogen ecosystem while reducing dependence on fossil fuels and promoting sustainable public transport.

Officials believe the successful trials could pave the way for the gradual introduction of hydrogen-powered trains across the country’s railway network, supporting India’s long-term clean energy and zero-emission goals.

FAQ

How far has India’s first hydrogen train travelled?

The train has completed more than 1,200 kilometres of successful trial runs between Jind and Sonipat in Haryana.

How does a hydrogen-powered train work?

The train generates electricity through hydrogen fuel cells, where hydrogen reacts with oxygen to produce electrical power. The only emission is water vapour.

How much diesel has the project saved?

According to the Ministry of Railways, the trial operations have already saved over 3,200 litres of diesel.

What is the next phase of testing?

After successful trials in Haryana, Indian Railways plans to conduct trial runs on the Delhi route before considering wider deployment.

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India has strengthened its oversight of the cryptocurrency sector by introducing detailed tax reporting guidelines for crypto service providers under the Income Tax Act. While the move does not introduce new taxes or regulate digital assets, it marks another step toward greater transparency in the country’s fast-growing crypto ecosystem.

The Central Board of Direct Taxes (CBDT) has released a guidance note explaining how crypto exchanges and other Virtual Digital Asset (VDA) service providers must comply with their reporting obligations.

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India adopts global reporting standards

The new guidance operationalises the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF), an international system designed to improve tax transparency by helping authorities track cryptocurrency transactions across jurisdictions.

By adopting CARF, India joins several countries working to strengthen tax compliance in the digital asset sector.

Focus remains on tax reporting

The CBDT’s latest guidance does not alter India’s existing taxation framework for cryptocurrencies.

Instead, it provides operational clarity on how crypto exchanges and VDA service providers should report transactions under the Income Tax Act, helping authorities improve transparency and monitor taxable crypto activities more effectively.

Broader crypto policy may be taking shape

The development comes shortly after the Parliamentary Standing Committee on Finance recommended that the government examine the need for a comprehensive legal and regulatory framework for virtual digital assets.

Together, the two developments suggest that India is gradually moving toward a more structured approach to regulating the cryptocurrency industry.

Industry welcomes the guidance

Industry leaders have largely welcomed the CBDT’s move, describing it as an important milestone for the digital asset ecosystem.

Edul Patel, CEO of Mudrex, said the guidance strengthens transparency while bringing India’s reporting framework in line with international standards.

According to Patel, stronger reporting requirements could help policymakers design balanced regulations that protect investors while supporting innovation in the sector.

He added that the crypto industry has consistently sought greater regulatory clarity, and the latest guidance represents meaningful progress toward a comprehensive framework.

Exchanges see greater operational clarity

Vimal Sagar Tiwari, Co-Founder of CoinSwitch, also welcomed the guidance, saying it provides much-needed operational clarity for crypto service providers.

He noted that a standardised reporting framework will make it more difficult to underreport or conceal taxable crypto transactions through compliant platforms.

According to Tiwari, improved reporting standards are expected to strengthen transparency, accountability and trust across India’s digital asset ecosystem while benefiting regulators, exchanges and investors alike.

What the guidance means

Although the CBDT’s notification does not introduce new cryptocurrency regulations, it reinforces the government’s focus on improving tax compliance and reporting standards.

With Parliament also examining the need for broader legislation, the latest move is being viewed as another step toward a more comprehensive policy framework for cryptocurrencies in India.

FAQ

What has the CBDT announced?

The CBDT has issued detailed guidance explaining how crypto exchanges and other Virtual Digital Asset service providers must comply with tax reporting requirements under the Income Tax Act.

Does this change India’s crypto tax rules?

No. The guidance does not introduce new taxes. It focuses on improving reporting obligations and tax transparency.

What is the OECD’s Crypto-Asset Reporting Framework (CARF)?

CARF is an international reporting standard developed by the OECD to help tax authorities monitor cryptocurrency transactions and improve cross-border tax compliance.

Does this mean India will regulate cryptocurrencies soon?

The guidance itself is limited to tax reporting. However, along with recent recommendations from the Parliamentary Standing Committee on Finance, it suggests that India may be moving toward a broader regulatory framework for digital assets.

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India’s primary market is set for another active week, with 11 initial public offerings (IPOs) opening for subscription, including three mainboard offerings and eight SME issues. Investors will also witness seven stock market listings over the coming days.

Among the biggest offerings are Manipal Health Enterprises, Juniper Green Energy and MV Electrosystems, all of which are expected to attract significant investor attention.

Mainboard IPOs opening this week

Manipal Health Enterprises IPO

Healthcare provider Manipal Health Enterprises plans to raise ₹9,275.22 crore through its public issue.

The IPO comprises:

• Fresh issue: ₹8,000 crore
• Offer for Sale (OFS): ₹1,275.22 crore

The company plans to use the proceeds to:

• Repay borrowings of subsidiary Manipal Hospitals Private Limited
• Acquire the minority stake in Sahyadri Hospitals
• Meet general corporate requirements

IPO Details

• Price Band: ₹560–₹590 per share
• Lot Size: 25 shares

Manipal Health operates a nationwide network of multi-speciality hospitals offering services ranging from outpatient care to advanced tertiary and quaternary treatments.

MV Electrosystems IPO

MV Electrosystems, a manufacturer of overhead electrification (OHE) equipment for the railway sector, will open its IPO on July 30.

The company aims to raise ₹290 crore through a fresh issue of equity shares. There is no Offer for Sale (OFS) in the issue.

The proceeds will be used for:

• Working capital requirements
• Research and development of power electronic equipment
• General corporate purposes

IPO Details

• Issue Size: ₹290 crore
• Price Band: ₹400–₹425 per share
• Lot Size: 34 shares
• Subscription Period: July 30 – August 3

Juniper Green Energy IPO

Renewable energy company Juniper Green Energy is launching a ₹1,800 crore IPO comprising entirely a fresh issue of shares.

The company intends to utilize the proceeds for:

• Repayment of borrowings
• Funding debt obligations of subsidiaries
• General corporate purposes

IPO Details

• Issue Size: ₹1,800 crore
• Price Band: ₹214–₹225 per share
• Lot Size: 66 shares
• Subscription Period: July 30 – August 3

Juniper Green develops, builds and operates utility-scale renewable energy projects, generating revenue through long-term electricity supply agreements with government-backed and other power purchasers.

SME IPOs opening this week

Apart from the mainboard offerings, eight SME IPOs are scheduled to open:

• Propshop Events & Exhibitions
• Advance Technoforge
• Poojaa Precision Engineering
• HR Hygiene Products
• Dhaval Packaging
• Oneindig Technologies
• GV Electricals
• Fusion Klassroom Edutech

These offerings span sectors including engineering, manufacturing, education technology, packaging and electrical equipment.

IPO listings scheduled this week

Seven companies are expected to debut on the stock exchanges this week:

• Indo-MIM
• Xtranet Technologies
• Lohia Corp
• Gulf Lloyds
• Metalic Technoforge
• Shree Balaji Mala
• Silverstorm Parks & Resorts

Investors will closely watch these listings to gauge market sentiment and demand for recent public issues.

Busy week for primary markets

With three sizeable mainboard IPOs, multiple SME offerings and several scheduled listings, the week is expected to remain active for investors tracking India’s primary market.

Market participants are likely to focus on subscription trends, valuation, institutional participation and listing performance as fresh public issues continue to hit the market.

FAQ

Which are the major IPOs opening this week?

The key mainboard IPOs are Manipal Health Enterprises, Juniper Green Energy, and MV Electrosystems.

How much is Manipal Health Enterprises raising?

The company plans to raise ₹9,275.22 crore, comprising an ₹8,000 crore fresh issue and an Offer for Sale worth ₹1,275.22 crore.

How many SME IPOs are opening this week?

A total of eight SME IPOs are scheduled to open for subscription.

Which companies are scheduled to list this week?

The companies expected to list include Indo-MIM, Xtranet Technologies, Lohia Corp, Gulf Lloyds, Metalic Technoforge, Shree Balaji Mala, and Silverstorm Parks & Resorts.

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The Government of India has approved the Reserve Bank of India’s (RBI) proposal to begin field trials of polymer-based ₹10 and ₹20 banknotes, marking the country’s first major step toward testing plastic currency.

The approval was confirmed by Minister of State for Finance Pankaj Chaudhary in a written reply in the Lok Sabha. Under the proposal, the RBI will issue one billion ₹10 notes and one billion ₹20 notes made from polymer for pilot testing across selected regions.

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Pilot rollout to assess performance

According to the government, the polymer notes will initially be introduced on a trial basis to evaluate how they perform under India’s climatic and usage conditions.

The RBI will assess factors such as durability, handling and circulation before deciding whether the new notes should be introduced on a larger scale.

Officials have clarified that any nationwide rollout will depend entirely on the outcome of these field trials.

Why is RBI testing polymer notes?

The Reserve Bank has maintained that polymer banknotes generally have a longer lifespan than conventional paper currency.

Based on international experience, polymer notes are considered more resistant to wear and tear, moisture and repeated handling, making them suitable for countries where cash remains widely used.

The central bank believes these characteristics could improve the longevity of lower-denomination notes, which typically change hands more frequently.

Paper currency is not being replaced

The government has emphasized that the pilot does not signal the replacement of existing paper currency.

Instead, polymer notes are expected to circulate alongside traditional paper banknotes if the trials prove successful.

In his written reply, Pankaj Chaudhary stated that there is currently no proposal under consideration to replace paper substrate-based banknotes with polymer-based currency.

Impact on digital payments yet to be assessed

The RBI has also clarified that it is too early to determine whether polymer banknotes will influence the adoption of digital payments.

According to the central bank, any assessment can only be made after the new notes enter regular circulation and sufficient operational data becomes available.

The RBI reiterated that cash and digital payment systems complement each other, and both are expected to continue serving different payment needs across the country.

Next steps

With the Finance Ministry’s approval in place, the RBI is expected to proceed with the pilot issuance of polymer ₹10 and ₹20 notes.

The results of the field trials will help determine whether India expands the use of polymer currency in the future or continues relying primarily on traditional paper banknotes.

FAQ

What has the government approved?

The Finance Ministry has approved the RBI’s proposal to issue one billion ₹10 polymer notes and one billion ₹20 polymer notes for field trials.

Why is the RBI introducing polymer notes?

Polymer banknotes are generally more durable than paper notes and can last longer in circulation, reducing replacement costs over time.

Will paper currency be discontinued?

No. The government has clearly stated that there is no proposal to replace existing paper banknotes with polymer notes. Both could coexist if the pilot succeeds.

Will polymer notes affect digital payments?

The RBI says it is too early to assess any impact on digital payments. Cash and digital payment systems are expected to continue operating alongside each other.

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Indian consumers will soon be able to access multiple financial services using a single, unified identity record. Starting in August 2026, commercial banks and insurance companies will roll out Central Know-Your-Customer 2.0 (CKYC 2.0), a revamped digital registry that eliminates the need to submit fresh identity documents whenever opening an account or purchasing a policy.

The initiative, jointly managed by the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the Insurance Regulatory and Development Authority of India (IRDAI), aims to modernize customer verification across the country’s financial landscape.

Mutual funds, wealth managers, and stock brokerages are expected to integrate into the network within four months following the initial rollout as regulators clear sector-specific guidelines.

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Fixing Legacy Issues with Data Confidence Scoring

While India created a centralized KYC repository containing over 1.2 billion entries over a decade ago, institutional adoption remained low due to duplicate records, missing data, and inconsistent verification standards. Because regulators frequently rejected repository records, financial institutions continued requiring customers to resubmit physical or digital documents for every new relationship.

CKYC 2.0 resolves this friction by embedding a dynamic accuracy rating—known as a confidence score—into every customer profile.

Developed by technology integrator Protean eGov Technologies, this scoring mechanism evaluates data reliability and indicates whether an individual’s details have already been verified by a regulated institution. The matrix gives prospective providers a clear assessment of how much they can rely on existing central records before completing onboarding.

How Consent-Driven Verification Works

The new framework prioritizes user privacy and data security. Financial institutions will no longer maintain isolated silos of identity proofs or pull records arbitrarily.

Instead, the onboarding process follows a streamlined workflow:

• Customer Initiation: An individual applies for a bank account, insurance policy, or investment product.

• One-Time Authorization: The institution requests access to the customer’s centralized file via a one-time password (OTP) sent to their registered device.

• Instant Record Retrieval: Upon receiving explicit consent, the institution fetches the pre-verified data from the central repository instantly.

• Real-Time Synchronization: Updates made to contact details or addresses at one institution sync automatically across the central network.

In addition to reducing customer friction, centralizing verified profiles creates a unified monitoring environment that helps regulators detect identity theft and cross-sector fraud.

Expanding Participation Beyond Basic Accounts

Although basic financial inclusion in India has expanded rapidly—with World Bank data showing that roughly 89% of adults held a bank account in 2024—participation rates in capital market instruments and insurance coverage remain low.

Industry leaders expect CKYC 2.0 to unlock substantial capital flows by removing onboarding barriers. State Bank of India alone maintains roughly 500 million bank accounts. By enabling those account holders to transition into mutual funds or insurance products with a single authorization code, asset managers anticipate a significant expansion in retail participation.

Insurance platforms are currently configuring their backend systems to align with the registry, with pilot phases scheduled for launch by late July ahead of full August deployment.

FAQ

What is Central KYC 2.0 (CKYC 2.0)?

CKYC 2.0 is India’s upgraded centralized customer identification system that allows banks, insurers, and investment firms to retrieve verified customer data from a central database using OTP-based customer consent.

How does CKYC 2.0 differ from the previous CKYC system?

The original CKYC registry suffered from duplicate and outdated data, forcing institutions to request fresh documents. CKYC 2.0 introduces a confidence score that rates the accuracy and prior verification status of each record, giving financial entities the trust required to skip redundant paperwork.

When will mutual funds and stock brokers join CKYC 2.0?

While banks and insurance providers begin using CKYC 2.0 in August 2026, capital market entities such as mutual funds and brokerages are scheduled to onboard within four months as sector-specific regulatory requirements are finalized.

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MUMBAI — The Reserve Bank of India (RBI) has issued a consumer awareness advisory encouraging bank account holders and financial investors to know and utilize their 14-digit CKYC (Central Know Your Customer) number.

The single unified identifier allows financial institutions to retrieve existing customer verification records from a central database, saving individuals from submitting identity and address proof documents every time they open a new bank account, purchase an insurance policy, or invest in mutual funds.

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1. What Is CKYC and How Does It Work?

Managed by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), the Central KYC Registry acts as a single centralized repository for verified customer identification data.

📑 Unified CKYC Onboarding Process:
 1. One-Time Verification ➔ Submit ID/Address proof to any regulated financial entity.
 2. Central Upload       ➔ Institution uploads verified data to CERSAI registry.
 3. 14-Digit Allotment    ➔ A unique 14-digit CKYC Identifier (KIN) is generated.
 4. Universal Reuse       ➔ Share the 14-digit number across all banks & insurers.

When a customer initiates a new financial relationship, the institution inputs the customer’s 14-digit CKYC Identifier to instantly pull verified demographic records and government-issued ID proofs directly from CERSAI.

2. Benefits Across Regulated Financial Sectors

How to Find Your 14-Digit CKYC Identifier

Financial customers can retrieve their existing CKYC number through multiple authorized channels:

Important Note: While CKYC eliminates duplicate document submissions for new accounts, customers are still required to update their central CKYC records whenever there is a permanent change in address, mobile number, or legal name.

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MUMBAI — The National Payments Corporation of India (NPCI) is developing a zero-internet Unified Payments Interface (UPI) payment feature utilizing Near-Field Communication (NFC) technology. According to industry reports, the new system will enable users to tap their NFC-enabled smartphones on certified Point-of-Sale (PoS) terminals to execute transactions up to ₹2,000 without requiring an active mobile network, Wi-Fi, or a UPI PIN.

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The development addresses a key limitation in digital payment reliability across low-connectivity environments such as underground metro lines, high-altitude regions, and aircraft cabins.

1. Technical Mechanics: How Offline NFC UPI Works

Unlike standard online UPI transfers that query core banking systems (CBS) in real time, the proposed system relies on a localized store-and-forward architecture:

📲 Offline NFC Payment Flow:
 1. Pre-Load Funds  ➔ Load cash into on-device UPI Lite wallet while online.
 2. Tap at Terminal ➔ Tap NFC phone on NPCI-certified merchant PoS device.
 3. Auth Storage    ➔ Terminal captures authorization locally (No PIN needed).
 4. Auto-Settlement ➔ Terminal forwards transaction data when network restores.

2. Comparing India’s Offline Payment Channels

While existing offline mechanisms like USSD codes (*99#) and voice-guided IVR (UPI 123Pay) enable transfers on basic feature phones, they still require cellular network signals. The new NFC framework removes telecom signal dependencies entirely during the transaction.

Implementation & Certification Timeline

Key operational stages for rolling out offline PoS payment infrastructure across merchant networks:

Operational Context: The proposed ₹2,000 limit expands on NPCI’s earlier peer-to-peer UPI Lite X framework by extending full offline merchant acceptance to standard commercial PoS hardware.

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The stock market started today on a weak note due to escalating tensions between the US and Iran. As of 9:16 am, the Sensex had slipped more than 600 points and was trading at 76,943. The Nifty fell 180 points to trade at 24,025. Amid the sharp decline, two sectors are seeing buying.

The post Selling storm in the market! Sensex slipped 600 points, two sectors became support first appeared on Rightsofemployees.com.

NEW DELHI — While the public typically views the impending 8th Central Pay Commission (CPC) strictly through the lens of salary increments for public servants, macroeconomic experts emphasize that the commission’s final recommendations will act as a major fiscal catalyst for the broader Indian economy.

The upcoming structural restructuring will directly alter the financial realities of nearly 55 lakh central government employees and 69 lakh pensioners. Cumulatively, this introduces a direct liquidity injection into more than 1.2 crore households, setting off a complex web of market movements that will influence private sector corporate practices, state government budgets, consumer pricing indices, and the Reserve Bank of India’s (RBI) monetary policy posture.

1. The Consumption Multiplier and Sectoral Winners

A pay revision of this magnitude does not sit quietly in savings accounts; it structurally lifts the disposable income threshold for a massive segment of middle-income households. Historically, this socio-economic band demonstrates a high marginal propensity to consume, routing excess funds directly back into consumer markets.

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According to Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings, the sheer scale of the demographic footprint triggers a powerful consumer multiplier loop. Higher disposable income accelerates real-world demand across key capital-intensive and retail verticals:

“A salary and pension revision for 1.2 crore households boosts purchasing power, driving consumption, savings and tax revenues beyond the public sector,” Dr. Sharma explained. “It also influences private-sector wage benchmarks as firms compete for talent. Stronger demand for housing, healthcare, education, consumer durables and services raises output, improves capacity utilisation and supports GDP growth.”

The Pay Commission Multiplier Loop:
💵 Gov Salary Revision ➔ 📈 Higher Disposable Income ➔ 🛒 Increased Discretionary Spend ➔ 🏭 Corporate Capacity Expansion ➔ 📊 GDP & Tax Revenue Growth

Primary Sector Beneficiaries of the 8th CPC Liquidity Wave

BankBazaar CEO Adhil Shetty added that this influx of regular income directly minimizes retail banking risk profiles. “Higher disposable incomes support demand across housing, retail and financial services while improving household savings and loan repayment capacity,” Shetty noted.

2. The Macroeconomic Trade-offs: Deficits and Inflation

The clear benefits to corporate balance sheets carry structural trade-offs that fiscal planners must navigate. Injecting liquidity into consumer markets while increasing government expenditure creates competing pressures on economic stability.

Drawing on historical data from the previous 7th CPC cycle, Dr. Sharma noted that while a major pay revision typically adds roughly 0.4 percentage points to overall GDP growth, it simultaneously drives up the Consumer Price Index (CPI) inflation by nearly 80 basis points via demand-pull pressures.

Balancing Act: Costs vs. Macroeconomic Risk Indicators

• Fiscal Deficit Pressures: The operational cost of implementing a full pay revision sits at an estimated 0.6% to 0.8% of national GDP. If matching revenue measures are not put in place, this layout can quickly expand fiscal and revenue deficits.

• Bond Market Volatility: Higher borrowing requirements by the state to fund payroll liabilities risk pushing up sovereign bond yields, which in turn increases the cost of borrowing for the private sector.

• Monetary Tightrope: The RBI is forced into a tighter corner—balancing growth support against the need to curb sudden demand-driven inflationary spikes.

To counter these structural imbalances, economists advocate for a phased implementation model that prioritizes lower- and middle-tier public workers, allowing consumer demand to climb smoothly without triggering severe public debt spikes.

3. The Structural Strain on State Government Finances

A less public, but highly consequential dimension of the Central Pay Commission is its eventual mirror deployment across regional states. While state administrations are under no statutory obligation to match the central grid, political and union realities routinely force them to align their compensation structures.

This spillover effect presents a long-term challenge for local state treasuries. State financial bureaus are often forced to take on heavier, rigid recurring liabilities for salaries and pensions, frequently at the expense of capital expenditure for infrastructure, public health systems, and localized development projects.

Current Status of the 8th Pay Commission Pipeline

The operational framework for drafting and submitting the final 8th CPC recommendations is moving forward through scheduled stakeholder consultations.

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E-KYC facility at branch level

The Postal Department has launched an e-KYC facility at the branch level. Previously, this facility was limited to departmental post offices. The new e-KYC facility at branches will benefit Post Office Savings Account (POSA), Recurring Deposit (RD), and Sukanya Samriddhi Account (SSA) account holders. After completing their e-KYC, these account holders can deposit up to ₹50,000 into their accounts at any branch without submitting a pay-in-slip. Furthermore, after completing e-KYC, savings account holders can withdraw up to ₹20,000 from any branch without submitting a pay-in-slip. However, transactions exceeding this amount will require the existing paperwork and approval from the respective post office.

Additionally, if a post office customer completes their Aadhaar authentication, the branch post office can now process transactions for eligible accounts at any post office, not just those at their branch. The postal department also states that from September 1, 2026, no transactions will be possible through the DREAM app for accounts not linked to a mobile number.

e-KYC facility only in single accounts

The postal department said in an order that the e-KYC facility at post offices will only be available for single accounts, not for minor or joint accounts. To avail the e-KYC facility, it will be mandatory for the customer’s mobile number and Aadhaar number to be linked to the Customer Information File (CIF).

The department has said that after the digital consent of the customer, the account will be converted into e-KYC by getting the name, date of birth, address and other details from the Aadhaar database. For security reasons, the department has directed all post offices to cover all the documents with the Aadhaar number of the account holders, so that personal information remains safe. Last May, Minister of State for Communications Chandrashekhar Pemmasani had said that to compete with private companies, the postal department has started 24-hour service in 214 post offices. The working hours in about 4,000 post offices have been increased from seven hours to 24 hours.

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NEW DELHI — A comprehensive nationwide survey has revealed deep-seated consumer dissatisfaction among Indian petrol vehicle owners regarding the government’s rapid deployment of E20 (20% ethanol-blended) petrol.

According to data compiled by community social platform LocalCircles, 53% of respondents rated the handling of the E20 rollout by the Ministry of Road Transport and Highways and the Ministry of Petroleum and Natural Gas as either “disastrous” or “ineffective.” Out of these critical responses, a striking 42% classified the execution explicitly as “disastrous,” while a small minority of just 13% viewed the policy execution positively.

E20 Rollout Public Sentiment Baseline
├── Dissatisfied: 53% (42% Disastrous | 11% Ineffective)
├── Positive Rating: 13%
└── Neutral / Unresolved: 34%

The friction points center on vehicle compatibility. While the Centre mandated that all E20 petrol sold in India from April 1, 2026, must carry a premium minimum Research Octane Number (RON) of 95, millions of active vehicles on Indian roads were engineered for much lower ethanol thresholds.

Older Vehicles Bear the Brunt of Efficiency Drops

The core issue rests with vehicles manufactured prior to the recent string of eco-compliance mandates. Vehicles built before April 2023 were calibrated strictly for E10 blends, whereas fully optimized E20-compliant engines only became standard manufacturing practice around April 2025.

The financial impact on users with older vehicles is dual-fold: a heavy decrease in fuel economy combined with escalating mechanical maintenance. The report highlights that modifying an older vehicle to handle higher ethanol saturation requires replacing highly vulnerable, non-compatible fuel pumps, rubber hoses, and gaskets—adding substantial unexpected costs to vehicle ownership.

Growing Demand for Consumer Fuel Options

The findings do not indicate a total rejection of green energy goals, but rather an urgent plea for commercial choice. Close to 31% of pre-2023 vehicle owners stated they would actively choose to buy pure petrol (E0) or lower-blended E10 varieties, even if those fuel types were sold at a premium price over standard E20.

“Older petrol vehicles remain at the absolute center of this economic debate. The data shows that consumers are searching for fuel flexibility at the station to preserve their engines, rather than a single, blanket mandate.”

— Extract from the LocalCircles Analysis

The public pushback emerges right as the Centre continues to firmly defend its aggressive biofuels strategy. In a July 2026 brief presented to the Supreme Court of India against active legal challenges, the government reiterated that ethanol blending is vital for national energy security—slashing dependence on foreign crude imports, lowering vehicular tailpipe emissions, and providing stable alternative income streams for domestic sugar cane farmers. The government noted that the long-term system impacts of the policy will yield clearer conclusive metrics by 2027.

Survey Methodology Overview

The LocalCircles quantitative study collected responses from 22,567 verified petrol vehicle owners spanning 316 urban and rural districts across India.

• Demographic Split: 69% of the participants identified as male, and 31% identified as female.

• Geographic Representation: Tier-1 metropolitan districts made up 46% of the data pool, Tier-2 cities accounted for 32%, and the remaining 22% of responses were drawn from Tier-3, Tier-4, Tier-5, and agricultural rural zones.

Frequently Asked Questions (FAQs)

Why exactly does E20 fuel cause lower mileage in older vehicles?

Ethanol contains roughly one-third less energy density than pure fossil gasoline. When engines designed for E10 or pure petrol run on a 20% ethanol mix, they must burn more fuel to generate equivalent combustion power, causing a noticeable drop in overall fuel economy.

Is the Indian government looking to push beyond E20 blends?

Yes. The Bureau of Indian Standards (BIS) has already officially notified structural fuel specifications for E22 up to E30 blends. However, the Union government’s immediate commercial focus remains centered on stabilizing the nationwide E20 integration before scaling higher.

How can I verify if my current car is fully compatible with E20 petrol?

As a general rule of thumb, vehicles built after April 2025 are systematically optimized for E20. If your car was manufactured before April 2023, its fuel system delivery lines likely contain components sensitive to long-term ethanol corrosion. Check your owner’s manual or look for a compliance sticker behind your fuel filler flap.

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EPF Scheme 2026 : The central government has notified the new Employees’ Provident Fund (EPF) Scheme, 2026. Under this scheme, a simplified and new framework has been introduced for partial withdrawals from EPF accounts. This new scheme, notified under the Social Security Code, 2020, replaces the six-decade-old EPF Scheme, 1952.

The new rules allow PF members to withdraw up to 100 percent of their eligible balance for various needs. A new rule has also been added, requiring every member to maintain a minimum balance in their EPF account.

Are the withdrawal rules changing?

Under the new rules, EPF members can apply for partial withdrawals online through a designated portal. It’s important to note that these withdrawals are subject to certain conditions. According to the scheme’s rules, the Commissioner may approve partial withdrawals upon a member’s application through the designated portal, subject to the requirement to maintain a minimum balance in the member’s account. This minimum balance has been defined for the first time in the new scheme.

What is Eligible Member Balance and Minimum Balance?

According to the notification, the minimum balance calculation is as follows: Minimum balance refers to an amount equal to 25 percent of the total contributions deposited in a member’s account (including both employee and company contributions, plus interest earned on them). This amount must remain in the member’s account after any partial withdrawal benefit is granted. Simply put, at least 25 percent of your total EPF savings (your contribution + company contribution + interest) will remain blocked in your account even after withdrawal.

The amount remaining after deducting this mandatory 25 percent minimum balance is called the eligible member balance. An employee can withdraw only this eligible member balance from the account.

What are the rules for leaving the job within 1 year?

This scheme provides significant relief to employees who leave their job before completing 12 months of starting their employment. According to the new rules, even if a member leaves their job within one year, they will still be entitled to a partial withdrawal of their PF. However, such a member will only be able to withdraw funds up to the extent of their eligible member balance available as of the date of withdrawal.

When and for what needs can I withdraw 100% eligible balance?

After completing a total of 12 months of EPF membership, members can withdraw up to 100% of their eligible member balance for various personal and family needs. These needs include the following:

Treating yourself or your family

Education in oneself or in the family

Marriage within one’s own family or family

Buying a house or flat

Buying land to build a house

building a house

Repaying Home Loan

Renovating/improving an existing home

Apart from this, in special circumstances, withdrawal of 100% eligible member balance may also be allowed after completion of 12 months membership.

How many times can the money be withdrawn?

The new scheme also limits the number of times a member can withdraw money for various purposes during his/her entire membership period.

For education: Maximum 10 withdrawals during the entire subscription period

For marriage: Maximum 5 withdrawals during the entire subscription period

For home/residential work: Maximum 5 withdrawals.

Under special circumstances: Maximum 2 withdrawals in a financial year.

Why is this new minimum balance rule necessary?

Previously, EPF withdrawal rules had different purposes and varying conditions, which in many cases led to members withdrawing most of their account balance. The new framework standardizes the entire withdrawal process by implementing a uniform concept of eligible member balance. It also ensures that at least 25 percent of employees’ retirement savings remain invested to secure their future.

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NEW DELHI — In a major product shift aimed at capitalizing on value-conscious travelers, India’s largest budget carrier, IndiGo, has officially launched an entry-level economy class tier called “IndiGo Lite“. The customized fare drops the traditional base ticket price for passengers who choose to travel completely free of checked luggage.

The booking window for the discounted tickets went live on July 1, 2026, exclusively across the airline’s proprietary booking channels, including its website, mobile app, and corporate contact centers. Actual passenger travel under the new “Lite” banner is slated to commence on July 15, 2026.

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The operational rollout applies globally across all non-stop domestic and international routes, covering one-way, round-trip, and multi-city travel itineraries for both adults and children.

Key Features and Ticket Restrictions

The newly minted fare tier fundamentally shifts how amenities are bundled, providing lower upfront costs but strict limits on luggage and seat selection:

• 7-Kg Baggage Cap: Passengers choosing this option are restricted to a single piece of cabin hand-baggage weighing no more than 7 kg.

• Auto-Assigned Seating: Travelers will receive a complimentary, system-allocated seat during check-in. Selecting a preferred seat in advance will require an extra fee.

• Loyalty Integration: Despite the entry-level nature of the ticket, flyers opting for the “Lite” tier remain fully eligible to earn and redeem IndiGo BluChip loyalty points.

• Flexible Monetization Add-ons: Passengers retain the freedom to customize their journey post-booking. Extra services—including checked bags, preferred seats, pre-ordered hot meals, and priority processing services like “Fast Forward”—can be purchased piecemeal via the app or directly at the airport up to one hour before scheduled flight departures.

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The Evolution of the 6E Fare Ecosystem

The deployment of this new budget tier represents an active unbundling trend sweeping the Indian aviation sector. It comes on the heels of major competitor updates, such as Air India’s recent introduction of unbundled, meal-free basic economy fares for domestic flyers.

According to Aloke Singh, Chief Strategy Officer at IndiGo, the product is specifically designed for customers who want to pay strictly for the services they utilize rather than paying for default baggage weights they don’t require.

With this new addition, IndiGo’s “6E Ways to Fly” service portfolio expands to a total of six consumer-facing options, structured progressively by price point and built-in flexibility.

Comparison: IndiGo Standard vs. IndiGo Lite Fares

Tier Comparison Overview

3. Frequently Asked Questions (FAQs)

Can I book the new IndiGo Lite tier on third-party travel websites?

No. The “IndiGo Lite” fare is strictly exclusive to the airline’s direct booking channels. It can only be secured using the official IndiGo website, the airline’s dedicated mobile app, or through their centralized contact center.

What happens if my cabin baggage exceeds the 7-kg limit at the gate?

If your hand baggage weighs over the 7-kg threshold, or if you bring an unbooked check-in suitcase to the airport, you will be required to pay the standard individual baggage or weight add-on fees either via the app or directly at the airport check-in counter up to 60 minutes before departure.

Can families or groups traveling together ensure they sit side-by-side on a Lite fare?

Because IndiGo Lite includes complimentary auto-assigned seats distributed by the system, side-by-side seating is not guaranteed. To ensure group seating, passengers will need to log into their booking manually and pay the nominal fee for preferred seat selection.

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EPF Interest Credit: There’s good news for the more than 70 million account holders of the Employees’ Provident Fund Organization (EPFO). The central government has approved an 8.25% interest rate on EPF deposits for the fiscal year 2025-26. Following the Finance Ministry’s approval, the EPFO ​​will soon begin the process of depositing interest into members’ accounts.

The EPFO’s Central Board of Trustees (CBT) had already recommended an interest rate of 8.25%. Now, with the final approval, the path is clear for interest to be credited to employees’ PF accounts.

When will the interest be credited to the PF account?

According to reports, the EPFO ​​may begin crediting interest to accounts this month. However, no official date has been announced by the organization yet.

It’s important to note that interest is calculated for the entire financial year. Therefore, even if the entry is delayed in the passbook, the account holder doesn’t suffer any loss. Interest is calculated for the entire period and credited to the account upon approval.

How to check whether interest has been credited or not?

1. EPFO ​​Passbook Portal: The updated balance can be viewed by logging into the EPFO ​​Passbook portal using your UAN and password. Once the interest is credited, its entry will appear in the passbook.

2. UMANG App: Members can also check their EPF account balance and transaction history through the UMANG app.

3. SMS service: If UAN is active and linked to Aadhaar, PAN or bank account, then PF account information can also be obtained through SMS.

4. Missed Call Service: Account related information can also be obtained by using EPFO’s missed call service from the registered mobile number.

Why does it take time for interest to accrue?

The EPFO’s Central Board of Trustees first determines the EPF interest rate. The proposal is then sent to the Finance Ministry for approval. Only after receiving the ministry’s approval does the EPFO ​​begin the process of crediting interest to millions of accounts.

8.25% interest for the third consecutive year

The EPFO ​​has retained the interest rate at 8.25% for FY2025-26. The same rate was previously applicable for FY2024-25 and FY2023-24. Maintaining the same interest rate for the third consecutive year will ensure salaried individuals continue to receive stable and attractive returns on their PF investments.

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Diesel Market Supply Dynamics (Transitioning July 1, 2026):
├── Bulk Corporate Fuel Contracts
│   └── Status: Priced ~₹40 higher per liter due to global market exposure.
├── Local Retail Fuel Stations
│   └── Pre-July 1: Capped at 200 liters per vehicle per day to protect retail users.
└── New Unified Policy Alignment
    └── July 1 Onward: Zero caps; industrial users permitted to purchase at retail pumps.

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While Indian markets are closed for Muharram, silver prices are experiencing a sharp decline in the international market. Today, Friday (June 26), there is a significant change in the prices of gold and silver on COMEX. COMEX silver saw even more heavy selling, falling 4.44 percent to $55.77 per ounce, compared to its previous close of $58.025 per ounce.

Meanwhile, Comex gold was trading at $4,002.80 per ounce, down $44.80, or 1.11 percent. It also touched a low of $4,001.20 per ounce during the trading session.

This decline marks the fourth consecutive weekly loss for gold. Recent US inflation data has made it clear that price pressures remain, shifting investor attention to the Federal Reserve’s policy direction.

Why are gold and silver prices falling?

News of sluggish Chinese demand: China’s net gold imports through Hong Kong fell by nearly 38 percent in May, according to a Reuters report . This indicates weakening physical demand from one of the world’s largest gold consumers. News of lower Chinese demand also negatively impacted the global gold market.

Inflation Raises Fed Concerns: Data released on Thursday (June 25) showed that US inflation surpassed the 4 percent mark in May for the first time in three years. This was primarily due to rising energy prices due to tensions in West Asia. This sharp increase in inflation strengthens expectations that the Federal Reserve may continue to tighten its monetary policy.

Federal Reserve Tightens Stance: Fed officials have also adopted a cautious stance. Chicago Fed President Austan Goolsbee said that despite some improvement in service sector inflation, inflationary pressures remain elevated. Meanwhile, New York Fed President John Williams clarified that inflation remains well above the central bank’s 2 percent target.

According to CME FedWatch data, traders now expect three interest rate hikes this year. Rate hike expectations in September have risen sharply over the past week. Rising interest rates have a direct impact on non-interest-bearing assets like gold and silver, as investors shift to interest-bearing assets.

Strong dollar adds to price pressure: The US dollar index is rising for the second consecutive week, signaling another negative outlook for gold and silver. A stronger dollar makes gold and silver more expensive for buyers of other currencies, depressing demand and driving down prices. Furthermore, a stronger dollar impacts investor risk appetite in global markets.

Geopolitical tensions impact markets: Geopolitical tensions also remain a concern for investors. The United Nations’ International Maritime Organization (IMO) has suspended escort operations for ships through the Strait of Hormuz following reports of an attack on a ship. This incident has raised new uncertainties about the fragile US-Iran peace agreement. Such incidents threaten to disrupt global supply chains, which could increase market volatility.

Eyes on US PCE data: Market participants are now closely monitoring the upcoming US PCE (personal consumption expenditures) inflation data. This data could provide additional clues to interest rate expectations and the direction of precious metals. PCE is considered the Federal Reserve’s preferred inflation measure, so its data could have a significant impact on the market.

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Silver Price Today: If you’re planning to buy or invest in silver, this news could be important for you. Silver prices have been fluctuating steadily over the past few days. Prices have risen sharply, and then plummeted, leaving both buyers and investors confused. Today, the price of 1 kg of silver hovers around ₹2.45 lakh, while significant declines have been observed in many cities.

According to market experts, the strengthening of the dollar in the international market, global economic uncertainty, and rising geopolitical tensions are directly impacting gold and silver prices. This is why silver prices are constantly fluctuating in the Indian bullion market. Therefore, be sure to check the latest rates before purchasing or investing.

Silver Rate Today (Indian Market)

Silver rates in major cities today

 Which silver is the purest ?

When it comes to silver purity, the purest grade of silver is considered to be 999.9, sometimes also called 9999 silver. This grade contains 99.99% pure silver. It is primarily used to make silver coins, bullion bars, medical equipment, and scientific instruments.

The most widely sold grade on the market is 999 silver, also known as fine silver. It contains 99.9% silver with only 0.1% of other metals such as copper, iron, or lead. It’s quite soft, so it’s easily used to make coins, silver bars, biscuits, and some types of jewelry. If you’re looking to buy silver for investment or gifting, 999 silver is a good choice.

Silver grades 990 and 970 are also available in the market, with purity of 99% and 97%, respectively. These are used in jewelry, cutlery, and decorative items.

925 silver, also known as sterling silver, is the most popular jewelry grade worldwide. It contains 92.5% pure silver and 7.5% other metals, which increases its strength. This is why it’s used to make rings, chains, bracelets, gift items, pens, and a variety of artifacts.

Below this are 900, 835, and 800 grades of silver, which contain 90%, 83.5%, and 80% silver, respectively. These grades are stronger due to their higher content of other metals, making them widely used in everyday utensils, decorative items, and other useful items.

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Muharram is the first month of the Islamic lunar calendar and marks the beginning of the Hijri year 1448. In India, the month of Muharram began on June 17th, following the local sighting of the moon. In the Gulf countries, Muharram began on June 16th, as the moon was sighted a day earlier.

The most important day of this month is Ashura, which is celebrated on the 10th of Muharram. Due to a one-day difference in the sighting of the moon, Ashura will be celebrated on Thursday, June 25, in Saudi Arabia and the United Arab Emirates (UAE), while the Muslim community in India will celebrate it on Friday, June 26.

Will June 26 be a public holiday?

Yes, the Government of India has declared a gazetted public holiday on June 26th for Muharram. Central government offices, banks, post offices, and stock exchanges, including the BSE and NSE, will be closed on this day.

Since the holiday falls on a Friday, many people will have three consecutive days off. Then, the Saturday (June 27) and Sunday (June 28) holidays will create a long weekend, which employees and students can take advantage of.

However, the Muharram holiday is not uniformly enforced across all states. Some states, such as Goa, Gujarat, and Haryana, do not include Muharram in their official holiday lists.

What is the significance of Muharram?

Muharram is considered one of the four sacred months of Islam and has special religious significance for Muslims around the world.

For Sunni Muslims, Ashura commemorates the day when Allah saved Moses and the Children of Israel from the oppression of Pharaoh. It is believed that the Prophet Muhammad fasted on this day and advised his followers to do the same.

Meanwhile, for Shia Muslims, Ashura is a day of profound sorrow and grief. It commemorates the martyrdom of Imam Hussein, the grandson of the Prophet Muhammad. During the Battle of Karbala in 680 CE, Imam Hussein, his family members, and companions were martyred for standing up against injustice.

How is Ashura celebrated?

Sunni Muslims typically observe fasts on the 9th and 10th of Muharram. They also offer special prayers and give alms to the needy on these days.

Shia Muslims observe the first ten days of Muharram as a period of mourning. During this period, many people participate in processions and wear black clothing to express grief. They remember and pay tribute to the sacrifice of Imam Hussein and his companions at Karbala.

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LPG Price Today: There is news of relief for crores of consumers using LPG gas cylinders today. In fact, there has been no change in the prices of LPG cylinders in the country on Tuesday (June 23). This means that both the 14.2 kg domestic gas cylinder and the 19 kg commercial cylinder will remain available at their old prices. It is worth noting that their prices were last revised on June 7, 2026. At that time, the price of domestic LPG cylinder was increased by Rs 29 per cylinder and the price of commercial cylinder was increased by Rs 42.

Check the rates in your city

Beneficiaries of Ujjwala Yojana benefit

While the price of a standard cylinder in India can be ₹942 or more, beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) receive a cylinder from the government for ₹642. They also receive a subsidy of ₹300 per cylinder.

When will the price decrease ?

If you’ve been waiting for domestic LPG cylinders to become cheaper, you may have to wait a little longer. It’s believed that the price of gas cylinders is unlikely to decrease in July. Therefore, consumers may see some relief by August or September.

The biggest reason behind this is the rising prices of LPG in the international market. Saudi Aramco, the world’s leading oil company, has increased the contract price (CP) of LPG for the month of June. The company has increased the price of propane by $10 per metric ton and the price of butane by $20 per metric ton. This directly impacts the cost of import-dependent countries like India.

Furthermore, while the actual supply cost of an LPG cylinder in India is ₹1,600, government oil companies are providing a subsidy and making it available to the general public at ₹942.

When did the prices increase?

The last increase was on June 7, when companies increased the price of domestic LPG cylinders by ₹29. Meanwhile, the rate of commercial cylinders increased from ₹42 to ₹53.50.

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When are the holidays next week?

According to the RBI holiday calendar, banks will remain closed on June 25, 26, 27 and 28 next week. Banks will remain closed in many areas of the country on June 25 and 26 due to Muharram. Banks will remain closed in Vijayawada on June 25. On the other hand, banks will remain closed in Agartala, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi and Srinagar on June 26. Banks will remain closed across the country on June 27 as it is the fourth Saturday and June 28 is Sunday.

Holidays Calendar for June 2026

Banks will be closed in Aizawl on June 15 to commemorate the founding of the Young Mizo Association (YMA). Banks will also be closed in Bhubaneswar on this day due to Raja Sankranti. Banks will be closed in Vijayawada on June 25 due to Muharram. Furthermore, banks will be closed in Agartala, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, and Srinagar on June 26 due to Muharram. Banks will also be closed in Shimla on June 29 to commemorate Sant Guru Kabir Jayanti. Similarly, banks will be closed in Aizawl on June 30 due to Remna Ni, a regional public holiday.

Holidays on Saturdays and Sundays

As per Reserve Bank guidelines, all scheduled and non-scheduled banks are mandatorily closed on every second and fourth Saturday of the month and every Sunday. This means that customers will not be able to avail of in-branch services on these days. It should be noted that there are four Sundays in this month, so banks will be closed on June 7, 14, 21, and 28. In addition to Sundays, banks will also be closed on June 13 (second Saturday) and June 27 (fourth Saturday).

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Marking a decisive milestone in the central government’s targeted job-creation and economic formalization agenda, Prime Minister Narendra Modi chaired a high-profile structural review event at Vigyan Bhawan to disburse approximately ₹2,400 crore in direct financial incentives. Executed under the aegis of the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), this comprehensive rollout directly reaches more than 15 lakh individual beneficiaries utilizing advanced Direct Benefit Transfer (DBT) networks.

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The core infrastructure of PM-VBRY, which officially went live on August 1, 2025, has scaled rapidly over its first ten months of activity. The program leverages strategic fiscal support to lower formal compliance and onboarding barriers for both job-seeking youth and expanding business establishments.

                           [PM-VBRY Multi-Tier Incentive Framework]
                                              │
         ┌────────────────────────────────────┴────────────────────────────────────┐
         ▼                                                                         ▼
   [For First-Time Employees]                                            [For Creating Employers]
 • Maximum Benefit: Up to ₹15,000 total.                               • Maximum Subsidy: Up to ₹3,000/month.
 • Allocation Model: Disbursed across two installments.                • Duration Split: 4 Years for Manufacturing, 
 • Target Objective: Smooth formal workforce transition.                 2 Years for all alternative commercial sectors.

Powering Small Scale Enterprises and Women in Tech-Labor

Unpacking the operational data since the program’s activation reveals unexpected structural wins for India’s grassroots commercial clusters. Union Minister for Labour and Employment Mansukh Mandaviya highlighted that more than 63 lakh employees have successfully registered and entered the formal workforce grid under the scheme’s regulatory umbrella.

[Total Outlay Pool: ₹99,446 Crore] ──► Targets 3.5 Crore Job Creative Actions by 2027
                                                 │
                                                 ▼
[Current MSME Capture Profile]     ──► Over 80% of Participating Hubs Have <25 Workers

A closer look at the corporate participants underscores the program’s vast reach across micro, small, and emerging businesses:

• MSME Capitalization: Over 80% of the active employer establishments drawing salary offsets and hiring bonuses represent localized, small-scale units managing teams of fewer than 25 personnel.

• Gender Parity Milestones: Nearly 30% of the certified workforce entrants documented across the system are women, indicating a steady, measurable rise in institutional female employment and independent financial participation.

Strategic Sector Timelines and Long-Term Scale Projections

To incentivize deep industrial capacity building, the scheme varies its support framework based on the nature of the industry:

                      [Sectoral Subsidy Duration Architecture]
                                          │
    ┌─────────────────────────────────────┴─────────────────────────────────────┐
    ▼                                                                           ▼
 [Manufacturing Sector Engine]                                        [Service & General Enterprise]
• Receives a robust 4-year incentive window.                         • Receives a stable 2-year incentive runway.
• Rewards long-term infrastructure hiring.                            • Smooths short-term service operational peaks.
• Promotes domestic production stability.                             • Accelerates immediate consumer-facing jobs.

Backed by a total fiscal allocation of ₹99,446 crore, the PM-VBRY initiative stands as India’s largest employment-linked financial program. The policy framework aims to transition 3.5 crore citizens into the formal sector over a two-year timeline, with internal projections expecting at least 1.92 crore of those registrations to come from young professionals securing their first formal contracts. By legally connecting cash incentives to verifiable job creation, the initiative expands social security safety nets while advancing economic formalization.

FAQ

Q1: How can a first-time employee claim the ₹15,000 incentive under PM-VBRY?

The incentive is built directly into the formal corporate onboarding process. Once an eligible establishment registers a first-time employee on the PM-VBRY portal, the government processes the financial support of up to ₹15,000 across two distinct, automated installments delivered straight via Direct Benefit Transfer (DBT).

Q2: Why do manufacturing sector employers receive incentives for four years instead of two?

The extended four-year incentive structure for manufacturing firms is designed to support the capital-intensive nature of the sector. Because factories and production facilities require significant initial setup costs and long training cycles, long-term employment support helps stabilize operations and encourages domestic manufacturing growth.

Q3: Are micro-enterprises with very small teams eligible to apply for employer incentives?

Yes. The scheme actively prioritizes micro, small, and medium enterprises (MSMEs). In fact, current operational statistics indicate that over 80% of all business establishments successfully drawing the monthly incentive of up to ₹3,000 per new hire are small businesses employing fewer than 25 workers.

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The wait for millions of farming households across India has formally concluded. Prime Minister Narendra Modi officially released the 23rd installment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana today, June 20, 2026, during a highly anticipated development event in Tarakeswar, Hooghly district, West Bengal.

Under this massive rural welfare initiative, the Ministry of Agriculture and Farmers Welfare orchestrated a direct transfer of ₹18,880 crore, seamlessly moving an instant income support tranche of ₹2,000 each into the bank accounts of more than 9.44 crore eligible farmers. This distribution follows the 22nd installment rolled out on March 13, 2026, which extended financial relief to over 9.35 crore accounts, notably reaching more than 2.15 crore women cultivators.

                           [PM-Kisan 23rd Tranche Distribution Scale]
                                               │
         ┌─────────────────────────────────────┼─────────────────────────────────────┐
         ▼                                     ▼                                     ▼
 [Total Capital Deployed]              [Beneficiary Reach]                   [Regional Multipliers]
  • Amount: ₹18,880 Crore               • Total Base: 9.44 Crore+ Cultivators • AP Integration: Combined 
  • Delivery: Direct Benefit Transfer   • Mechanism: Mobile OTP-Verified KYS    with Annadata Sukhibhava 
    (DBT) to registered bank nodes.       portal checks at official sites.       to deliver ₹7,000 tranches.

Core Mechanics of the PM-Kisan Income Framework

The PM-Kisan scheme remains a foundational pillar of the central government’s direct cash assistance framework for rural land-holding families.

[Annual Central Support: ₹6,000] ──► Distributed in 3 Equal Tranches of ₹2,000 Each
                                                 │
                                                 ▼
[Verification Layer Requirement] ──► Mandates Land Seeding, e-KYC & Core ID Linking

The scheme delivers a structural top-up of ₹6,000 per year, organized into three distinct operational cycles. To preserve financial transparency and prevent leakage, the program funnels money solely through the Direct Benefit Transfer (DBT) framework. Beneficiaries must satisfy three essential verification filters via the “Know Your Status (KYS)” portal dashboard: valid land seeding records, complete electronic KYC (e-KYC), and validated individual core identity linkage.

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Step-by-Step Verification: Checking Your Tranche Status

Farmers seeking to instantly verify if their ₹2,000 tranche has processed correctly can navigate the tracking infrastructure using the official digital channels outlined below:

How to Use the “Know Your Status” Tracking Tool

Tracking Status for Self-Registered and CSC Applicants

For independent farmers or individuals who processed their records manually through localized Common Services Centers (CSC), verification can be completed quickly via alternative parameters:

1. Go to the core domain at pmkisan.gov.in.

2. Inside the Farmer’s Corner block, select the link titled Status of Self Registered Farmer/CSC Farmers.

3. Provide your identity credentials along with the required captcha characters to pull up your current application file.

Verifying the Master Village Beneficiary Directory

If you need to verify if a specific household name is included in your local community’s master registry, the portal provides a straightforward geographic filtering tool:

                      [Village Directory Extraction Architecture]
                                          │
    ┌─────────────────────────────────────┼─────────────────────────────────────┐
    ▼                                     ▼                                     ▼
 [Select Regional Tiers]            [Define Neighborhood Nodes]           [Generate Master Report]
• Open the 'Beneficiary List' tab   • Zero in on targeted blocks and      • Click the 'Get Report' command
  under the main portal menu.         individual localized villages.        to load a clean alphabetical grid.
• Pick your state and district.     • Filters out cross-region errors.    • Confirms clear scheme inclusion.

Andhra Pradesh Supercharges Assistance via Annadata Sukhibhava

Coinciding with the national release, Andhra Pradesh Chief Minister N Chandrababu Naidu launched a massive localized subsidy multiplier in Amaravati. The state government released ₹3,125.4 crore under the integrated Annadata Sukhibhava-PM Kisan scheme, providing substantial relief to nearly 47 lakh farming families across the region.

This combined state-center framework elevates the total annual financial support for eligible Andhra Pradesh families to an impressive ₹20,000. The funding pool combines the central government’s ₹6,000 base with an additional ₹14,000 backed by the state government as part of its structural “Super Six” policy commitments.

With today’s launch, the state added a specialized ₹5,000 first installment, meaning qualified farmers across Andhra Pradesh are receiving a combined single-day payout of ₹7,000 to help kickstart their seasonal cultivation cycles.

SECTION 4 — FAQ

Q1: What should I do if my PM Kisan 23rd installment status shows an e-KYC failure?

If your status check indicates an incomplete e-KYC or a missing linkage, your payment will be held by the bank network. You can resolve this immediately by visiting the official portal, clicking the “e-KYC” tab, and authenticating your record via mobile OTP, or by visiting a nearby Common Services Center (CSC) for biometric verification.

Q2: How much total money is given under the PM Kisan scheme annually?

The central PM Kisan scheme provides a base income support of ₹6,000 per year per eligible family, split into three equal installments of ₹2,000. However, regional variations exist; for example, in Andhra Pradesh, the state top-up increases total annual assistance to ₹20,000.

Q3: Where can I watch the live broadcast of the PM Kisan distribution events?

All major direct benefit disbursement events led by the Prime Minister are live-streamed transparently on the government’s official media portal at pmevents.mygov.in.

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Reliance Industries Ltd (RIL) has officially set the stage for a monumental shift on Dalal Street by filing its Draft Red Herring Prospectus (DRHP) with market regulator SEBI for its digital and telecom arm, Jio Platforms Limited (JPL). The highly anticipated initial public offering (IPO) seeks to raise an astronomical $4 billion (approximately ₹37,700 crore), instantly establishing it as the largest public market issue in Indian corporate history.

The mega-issue is configured to easily surpass the previous milestone established by Hyundai Motor India’s ₹27,859-crore public debut in late 2024. Addressing shareholders at the company’s annual meeting on June 19, Reliance Chairman Mukesh Ambani emphasized the global weight of the listing, noting that it will demonstrate India’s capacity to build technology institutions of unmatched international scale and valuation.

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[India's Historic IPO Scale Comparison]
                                              │
         ┌────────────────────────────────────┼────────────────────────────────────┐
         ▼                                    ▼                                    ▼
[Jio Platforms IPO (2026)]         [Hyundai Motor India (2024)]          [NSE Planned IPO (2026)]
 • Target Size: ~₹37,700 Crore      • Target Size: ₹27,859 Crore          • Target Size: ~₹30,000 Crore
 • Dilution: 27 Crore New Shares    • Focus: Automotive Onshoring         • Dilution: 14.89 Crore Shares
 • Ecosystem: 524M Subscribers      • Status: Former Record Holder        • Ecosystem: National Exchange

Transitioning Leadership and Strategic Debt Recalibration

The monumental public market offering is being structurally steered by the conglomerate’s next-generation leaders—Akash Ambani, Isha Ambani, and Anant Ambani—marking a core operational milestone in the group’s ongoing leadership succession strategy.

[Jio Platforms Total Debt: ₹71,529 Crore] ──► Allocates ₹27,500 Crore from IPO Net Proceeds
                                                           │
                                                           ▼
[Targeted Balance Sheet De-leveraging]    ──► Wipes Out Major Subsidiary High-Interest Borrowings

According to the filed draft documents, the capital structure changes are designed to clean up balance sheet liabilities rather than merely cash out early investors. Jio Platforms plans to issue up to 27 crore fresh equity shares, representing roughly 2.9% of its post-issue equity capital.

A massive chunk of the capital influx—up to ₹27,500 crore—is legally earmarked for the prepayment or full settlement of outstanding high-volume debt held by its primary telecom subsidiary, Reliance Jio Infocomm Ltd (RJIL). As of March 31, 2026, the digital conglomerate’s combined outstanding debt obligations sat at ₹71,529 crore.

Market Value Metrics and Subscriber Footprints

While investment banking powerhouses like Jefferies recently pegged individual asset valuations for the digital giant as high as $180 billion, the baseline institutional floor valuation targeted via the DRHP filing models sits comfortably at $137 billion.

                        [Jio Platforms Core Performance Dashboard]
                                            │
    ┌───────────────────────────────────────┼───────────────────────────────────────┐
    ▼                                       ▼                                       ▼
  [Subscribed Footprint]             [Fiscal Performance (FY26)]           [Operational Footprint]
 • Total Base: 524.4 Million users  • Gross Revenue: ₹1.47 Lakh Crore     • Active Workforce: 27,935
 • 5G Network: 268.5 Million users    (USD 15.5 Billion)                    (Reflects 21% YoY lean cuts)
 • JioAirFiber: 13 Million homes    • Net Profit: ₹30,000 Crore           • Tech Scope: AI, Cloud,
   broadband installations.           (USD 3.2 Billion)                     Enterprise Data networks.

The data reflects an incredibly lean, high-margin telecom and data ecosystem. For the fiscal year 2025-26, Jio Platforms generated a robust revenue of 正式 ₹1.47 lakh crore ($15.5 billion) alongside a net profit after tax of 正式 ₹30,000 crore ($3.2 billion).

Remarkably, the company unlocked these record profits while managing structural workforce efficiency cuts, reducing total headcounts by 21% year-on-year down to 27,935 employees. This lean operating profile demonstrates the highly automated, software-driven nature of its 5G network core.

Key Timelines, Pricing Bands, and Grey Market Projections

Because the draft filings have just been placed on the regulator’s desk for comprehensive review, exact timeline markers remain flexible:

• Opening Dates & Price Bands: The exact subscription calendar windows and share purchase bands will be authorized immediately after SEBI issues its final observations. Financial analysts expect a formal launch window later in the current calendar year.

• Grey Market Premium (GMP): Grey market tracking desks indicate that initial unlisted trading premiums will remain quiet until institutional lot allocations and retail share price floors are locked in.

• Shareholding Framework: Reliance Industries currently retains a dominant 66.43% equity stake in the platform. The remaining equity sits with sovereign funds and tech icons who entered during the historic 2020 fundraising rounds, where Meta acquired 9.98% for ₹43,574 crore and Google secured 7.73% for ₹33,737 crore.

SECTION 4 — FAQ

Q1: What is the total expected size and valuation of the Jio Platforms IPO?

Jio Platforms plans to raise approximately $4 billion (₹37,700 crore) by issuing up to 27 crore fresh equity shares, making it the largest IPO in Indian market history. The target valuation of the digital services giant is positioned at approximately $137 billion.

Q2: How does Reliance plan to spend the massive capital raised from the IPO?

According to the DRHP, the primary objective is targeted corporate debt reduction. Reliance will channel up to ₹27,500 crore of the net proceeds directly toward the prepayment or full liquidation of outstanding borrowings held by its telecom subsidiary, Reliance Jio Infocomm Ltd (RJIL).

Q3: When will the official opening date, price band, and lot size be announced?

The exact subscription opening dates, per-share price bands, and retail lot specifications will be declared following the completion of SEBI’s regulatory review process. While dates aren’t finalized, market indicators point to a launch later this year.

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Gold and silver prices are once again experiencing a significant drop, with both precious metals experiencing a two-day crash. Silver futures prices suddenly fell sharply as trading began on the Multi Commodity Exchange on Friday. In just two days, this precious metal has become cheaper by ₹22,000. Gold, on the other hand, has also become significantly cheaper, with the price of 10 grams of 24-karat gold falling to ₹1.46 lakh.

Silver fell by Rs 8,000 at the opening.

Looking at the decline in the price of silver on MCX, the price of silver with an expiry date of July 3 fell to Rs 2,37,572 per kg on the previous trading day and slipped to Rs 2,29,561 per kg at the opening of trading on Friday. Consequently, 1 kg of silver became cheaper by Rs 8,011 in one stroke.

Silver falls by Rs 22,000 in two days. The

silver futures price also saw a significant drop on Thursday, the previous trading day, and continued to fall until the end of trading. Looking at the decline over the past two days, silver closed at Rs 2,51,807 on Wednesday, reached Rs 2,37,572 on Thursday, and Rs 2,29,561 on Friday. Consequently, silver has fallen by Rs 22,246 per kilogram in just two days.

Following the decline in the gold rate , the futures price of gold is also moving in tandem with the silver price and has been steadily declining. The price of 10 grams of 24-karat gold, expiring on August 5th, fell to ₹1,46,252 upon opening, after closing at ₹1,49,309 per 10 grams the previous trading day. This means that gold suddenly fell by ₹3,057.

How much has gold fallen from its high?

Considering the decline in gold prices over the past two trading days, the price of 10 grams of gold was ₹1,53,879 on June 17th, and from there, the precious yellow metal has fallen by ₹7,627. Compared to its high, gold futures crossed ₹2 lakh for the first time in January, and the high for this expiry gold futures is ₹2,04,375, making gold now available ₹58,123 cheaper.

Why did gold and silver suddenly start falling?

If we talk about the reasons behind the Gold Silver Rate Crash, it is related to America. Actually, the US Fed has announced to keep the repo rate stable in the June 2026 meeting, that is, no change was made in the interest rates and they have been kept in the range of 3.50% to 3.75%. However, Fed officials have expressed concern about rising inflation and have expressed the possibility of further increase in interest rates, the effect of which has been seen on the prices of gold and silver as well.

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The post Gold-Silver Rate Crash: Silver prices fall sharply, falling by ₹22,000 in two days, while gold also crashes. first appeared on Rightsofemployees.com.

The long-awaited opening of the Noida International Airport at Jewar has officially shifted real estate dynamics across the National Capital Region (NCR).

Following the commencement of commercial flight operations on Monday, June 15, 2026, the local property market is transitioning from a period of intense land speculation into a cycle supported by real economic infrastructure.

Property values along the critical Yamuna Expressway corridor have already experienced unprecedented growth over the last five years in anticipation of this opening.

According to industry data tracked between 2020 and 2025, residential apartment prices surged by 158%, rising from an average of ₹3,950 per square foot to ₹10,200 per sq ft.

Land plots performed even more aggressively, skyrocketing over 500% from ₹1,650 per sq ft to ₹10,500 per sq ft, making raw land the top-performing asset class in the entire region.

The Shift From Speculative Momentum to Economic Fundamentals

For years, the massive price appreciation across Greater Noida and the Yamuna Expressway was sustained entirely by future expectations.

Local real estate analysts point out that the actual opening of the runway marks a pivot point where real estate demand must be backed up by employment generation, logistics parks, and office occupancy.

[June 15, 2026: Airport Commences Operations]
                    │
                    ▼
  [Transition From Speculation to Fundamentals]
                    │
       ┌────────────┴────────────┐
       ▼                         ▼
[Commercial Growth]      [Industrial Absorption]
  • Global Capability      • Logistics Hubs
    Centers (GCCs)         • Data Centers
  • Flex Office Supply     • Proposed Film City
                    │
                    ▼
     [Sustained 12-18% Annual Property Appreciation]

“The operationalization of Noida International Airport marks a defining inflection point for the Yamuna Expressway corridor,” stated Vishal Raheja, Founder and Managing Director of InvestoXpert Advisors. Raheja explained that while earlier growth was speculative, the market is now stabilizing into sustainable development.

Projects like logistics parks, active data centers, industrial manufacturing clusters, and the upcoming Film City are moving forward alongside the airport gates, strengthening structural rental yields, housing absorption, and asset liquidity.

Commercial Real Estate and the Rise of Flex Workspaces

The aviation hub is also altering Noida’s commercial landscape. Flexible workspace providers are rapidly expanding their footprint along the expressway corridors, betting that improved international connectivity will attract multinational corporations and Global Capability Centers (GCCs) away from older corporate zones.

Noida currently features an active inventory of nearly 200 flexible office hubs, with new inventory growing at a steady clip of 25% to 30% annually.

“The start of operations at Noida International Airport is the biggest catalyst Noida’s commercial real estate market has had in years,” noted Utkarsh Kawatra, CEO and Co-founder of myHQ. Kawatra stated that while established sectors will continue to see strong demand, emerging clusters around Greater Noida will draw in decentralized corporate offices and hybrid work structures looking to avoid congestion elsewhere.

Can Noida Challenge Gurugram’s Corporate Dominance?

For nearly two decades, Gurugram retained a clear advantage in attracting major multinational headquarters and foreign investment due to its direct proximity to Delhi’s Indira Gandhi International Airport. The launch of flight operations at Jewar lands a direct challenge to that monopoly.

Local infrastructure developers emphasize that the new airport places Noida on an equal footing regarding global access. Jash Panchamia, Executive Director of Jaypee Infratech, highlighted that the gap between the two property markets is closing fast.

With its highly organized, grid-based road layouts, steady expansion of the Delhi Metro network, and direct flight connectivity provided by carriers like IndiGo, Noida is presenting an appealing option for cost-conscious, high-growth global enterprises looking for premium commercial space in the NCR.

FAQ

Q1: What will drive real estate price appreciation now that the airport is actually open?

Prior to the opening, prices rose based on speculative expectations. Moving forward, annual property appreciation—estimated by analysts at 12% to 18%—will depend on how quickly aviation-linked industries, logistics networks, and corporate offices create actual jobs and generate real housing demand.

Q2: Which areas around the airport are expected to see the highest commercial growth?

The highest commercial and office leasing activity is concentrated along the Noida Expressway and Greater Noida sectors. Additionally, areas directly adjacent to the Yamuna Expressway are seeing rapid development of logistics parks, industrial hubs, and flexible co-working centers.

Q3: How do apartment prices in Noida compare to Gurugram following this launch?

While Noida’s apartment prices have risen to an average of ₹10,200 per square foot, they generally remain more competitive than prime commercial and residential pockets in Gurugram. This price difference, combined with matching airport connectivity, makes the region attractive to institutional investors and corporate occupiers.

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Retail gold prices across major Indian markets experienced a downward correction on Tuesday, pausing a multi-day rally. The shift comes as global commodity markets react to major geopolitical breakthroughs in West Asia.

According to data compiled by Goodreturns.in on June 16, 2026, the price of 24-carat gold fell by ₹160, bringing the cost down to ₹1,51,370 per 10 grams. Jewelry-grade 22-carat gold dropped by ₹150 to rest at ₹1,38,750 per 10 grams, while 18-carat gold options dropped by ₹120 to hit ₹1,13,530 per 10 grams. This retail cool-down directly follows a period of intense volatility that pushed safe-haven assets to historic highs over the past few months.

Brand-Specific Retail Pricing and Institutional Standards

The daily retail rates tracked across major physical jewelry houses and institutional boards mirrored this correction. Leading national brands aligned their baseline per-gram pricing to reflect the broader market shift on Tuesday:

Meanwhile, institutional trading at the India Bullion and Jewellers Association (IBJA) had capped the previous evening’s closing session for 24-carat purity at ₹1,50,646 per 10 grams, highlighting the tight spreads between formal spot benchmarks and physical retail operations.

Why the US-Iran Peace Framework Broke the Gold Rally

The dominant driver behind this sudden dip is a massive wave of profit-booking by global fund managers, sparked by structural changes in geopolitical risk. Since the outbreak of the US-Iran crisis in late February, international gold prices had surged on supply-chain fears. However, with the announcement of an interim peace agreement brokered to end the war in the Gulf, bullion has tumbled over 20% from its peak.

[US-Iran Framework Peace Deal] 
               │
               ▼
   [Geopolitical Risk Drops] ───► [Crude Oil & Energy Stabilize]
               │
               ▼
 [Safe-Haven Asset Profit Booking]
               │
               ▼
[Global Gold Spot Drops to $4,348] ───► [Indian Retail Rates Decline]

A framework agreement signed on Monday has significantly lowered market risk premiums. U.S. President Donald Trump confirmed the completion of the initial agreement, authorizing the lifting of the U.S. naval blockade and reopening the critical, toll-free Strait of Hormuz. While diplomatic teams prepare to head to Switzerland on Friday, June 19, to hammer out a permanent truce and address nuclear program details, the initial drop in hostilities has prompted investors to rotate money out of defensive assets like gold.

Domestic Futures Hold Steady Ahead of Crucial Fed Guidance

While physical retail storefronts cut prices, domestic paper gold markets showed a slightly different trend. On the Multi Commodity Exchange (MCX), gold August futures managed a minor gain on Tuesday morning. By 9:38 AM, the contracts edged up by 0.05% (or ₹84), trading at ₹1,53,000 per 10 grams. This local holding pattern occurred even as international spot gold hovered lower, down 0.07% at $4,348.37 per ounce.

The domestic market’s cautious stance reflects a focus on macroeconomics. Traders are looking past immediate geopolitical news to prepare for the upcoming U.S. Federal Reserve monetary policy meeting later this week.

This will mark the first official interest rate decision and forward-guidance session led by the newly sworn-in Federal Reserve Chair, Kevin Warsh. Investors are waiting to see if Warsh will lean toward pro-growth interest rate cuts following the easing of energy prices, or maintain a strict stance to curb lingering inflation. The resulting outlook on global interest rates will ultimately determine where gold prices head next.

FAQ

Q1: Why are physical retail store prices dropping while MCX futures show mild gains?

Physical retail prices reflect immediate spot market corrections and changes in local consumer demand following international news. In contrast, MCX futures represent contracts for future delivery (specifically August). They are currently holding steady because institutional traders are waiting for the U.S. Federal Reserve’s upcoming policy meeting before making major moves.

Q2: How does the reopening of the Strait of Hormuz impact jewelry buyers in India?

The Strait of Hormuz handles about one-fifth of global oil shipments. Reopening it safely lowers global energy costs and reduces inflation fears. This shifts investor interest away from defensive safe havens like gold, leading to a drop in international bullion rates that directly lowers prices for Indian jewelry buyers.

Q3: Will retail gold prices continue to slide throughout June?

While the US-Iran peace framework has cooled off the market, a permanent truce is still being negotiated. If the upcoming Swiss talks go smoothly and Fed Chair Kevin Warsh hints at steady or higher interest rates, gold prices could continue to drift downward. However, any unexpected hurdles in the peace process could quickly bring buyers back to the metal.

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LPG Price Today on June 9: The financial burden of supplying domestic cooking gas has risen sharply in recent days. The delivery cost of a standard 14.2-kg LPG cylinder now exceeds ₹1,600.

Despite a significant increase in international fuel prices, consumers are still paying significantly lower prices. This is resulting in an under-recovery of approximately ₹700 per cylinder, which is being borne by the government and public sector oil marketing companies.

This gap between market-related costs and retail prices has widened amid continued volatility in the global energy market, due to supply disruptions through the Strait of Hormuz, a key route for energy shipments from the Middle East.

City-wise LPG prices

How much did the international market increase?

According to the Ministry of Petroleum and Natural Gas, international LPG prices have increased sharply in the last few months, increasing India’s import bill significantly.

The Saudi Aramco contract price (CP) for a 50:50 propane-butane blend was US$542.50 per tonne in February. Due to export disruptions through the Strait of Hormuz, this benchmark rose to US$775 per tonne in April and further rose to US$790 per tonne in June. The ministry said that during this period, prices of both main components of LPG saw significant increases.

Lowest LPG price in India

The ministry said that losses on domestic LPG sales increased sharply last year due to the continued rise in global prices. The total under-recovery (the difference between cost and selling price) on domestic LPG reached ₹60,000 crore by the end of fiscal year 2025-26, compared to ₹41,338 crore in the previous fiscal year. The Union Cabinet has approved compensation of ₹30,000 crore to help oil marketing companies.

Despite a recent ₹29 increase in cylinder prices, domestic LPG prices remain significantly lower than the actual procurement and supply costs. Effective Sunday, the price of a 14.2-kilogram domestic LPG cylinder in Delhi has been revised to ₹942. The ministry stated that this price is significantly lower than the market-related cost.

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PM Kisan: If you’re a beneficiary of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, you’re undoubtedly waiting for your next installment of ₹2,000. Prime Minister Narendra Modi released the 22nd installment of the PM-KISAN scheme on March 13, 2026, during an event in Guwahati, Assam. However, approximately 94.6 million farmer families across the country are now awaiting the 23rd installment.

At present, no official announcement has been made by the government regarding its date. PM-KISAN is one of the central government’s most popular schemes, providing direct financial assistance to eligible farmer families.

When can the 23rd installment come?

Although the government has not yet announced the date of the 23rd installment, it can be estimated based on the scheme’s previous payment pattern. Three installments are issued annually under the PM Kisan Yojana.

First Installment: April to July

Second Installment: August to November

Third Installment: December to March

The 22nd instalment was released for the period from December 2025 to March 2026. Therefore, the 23rd instalment covering the period April-July 2026 is likely to be released in June or July 2026.

What are the benefits of PM Kisan Yojana?

Under the Pradhan Mantri Kisan Samman Nidhi Yojana, eligible farmer families are provided financial assistance of ₹6,000 annually. This amount is transferred directly to farmers’ bank accounts in three equal installments of ₹2,000 every four months. Its purpose is to provide financial assistance to farmers for their farming and related needs.

Who can avail the benefits of the scheme?

This scheme benefits farmer families who own cultivable land. A farming family consists of a husband, wife, and minor children. However, land that is not cultivable or used for purposes other than agriculture is not eligible for the scheme.

How to check the beneficiary list?

• Visit the official website of PM Kisan.
• Click on “Beneficiary List” option.
• Select State, District, Block and Village.
• The list of beneficiaries will be visible as soon as you click on “Get Report”.

Check status like this from mobile app

• Farmers can also check their status through PM Kisan GOI mobile app.
• Open the app and select the Beneficiary option.
• Enter the registration ID.
• Verify with Aadhaar OTP.
• After logging in, select the installment number.
• After this the beneficiary can check the status, e-KYC status and other information.

It is necessary to do e-KYC

To avail the benefits of the PM-KISAN scheme, e-KYC is mandatory. Farmers can use OTP-based e-KYC, biometric e-KYC, or face authentication-based e-KYC. The status of e-KYC can be checked online approximately 24 hours after completion.

Read More: RBI Cancels Registration Certificates of 135 NBFCs Across India

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Bank of Baroda (BoB) has officially rolled out a new short-term retail fixed deposit FD initiative called the ‘bob Golden Goal Deposit Scheme.’ This specialized 555-day product targets retail deposits under ₹3 crore, providing competitive yields tailored for both general customers and senior citizens.

The state-owned lender is offering distinct pricing structures depending on whether investors select a callable option (allowing premature withdrawal) or a non-callable option (funds locked in until maturity for a slightly higher yield).

Detailed Interest Rate Breakdown

The scheme features structured tiers designed to maximize returns for elderly demographics, with premium rates stretching up to 7.40% for super senior citizens.

555-Day Fixed Deposit Yield Matrix

Access and Digital Application Pathways

Bank of Baroda has modernized the onboarding process for this scheme, eliminating traditional administrative hurdles for individuals who do not currently maintain an active relationship with the institution.

• For Existing BoB Account Holders: Current customers can lock in these rates instantly via the bob World mobile banking application, the bank’s internet banking portal, or by requesting an allotment at any brick-and-mortar branch across India.

• For New-to-Bank Customers: External investors can open a fixed deposit online through the bank’s official website. Crucially, the platform bypasses the requirement to open a standard savings bank account, allowing direct capital placement into the 555-day instrument.

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1. Cooking gas and commercial cylinders (LPG): India imports approximately 60% of its LPG needs from Gulf countries. During the war, prices of propane and butane (the main components of LPG) in the international market exceeded $800 per metric ton. With the easing of tensions, these prices could fall to the $550-$600 range, leading to a reduction of 70 to 100 rupees in the price of domestic LPG cylinders. However, the government already provides subsidies on cylinders, so it remains to be seen whether the government will pass this subsidy on to the general public.

2. Exotic Fruits and Dried Fruits (Dates and Figs): India imports approximately 90,000 to 100,000 metric tons of dates annually from Iran and the Gulf countries. Due to the maritime blockade, prices of Kimiya and Mazloom dates in Indian wholesale markets have risen by 35 to 40 percent. As soon as the routes reopen and supplies return to normal, wholesale and retail prices are expected to decline by 25 to 30 percent.

3. CNG and PNG: India imports approximately 50 percent of its total natural gas needs (in the form of LNG) from countries like Qatar and the UAE. Due to war fears, spot LNG prices had reached $15-18 per mmBtu (Million British Thermal Units). Now, global gas prices are expected to fall to $9-10 per mmBtu, which could reduce domestic CNG and PNG prices by $4 to $6 per kg/Scm.

4. Chemical Fertilizers: India imports approximately 7 million to 8 million tons of urea and phosphatic fertilizers annually, with Oman and Saudi Arabia accounting for the largest share. The disruption of the supply chain has led to a jump in import costs of $50 to $70 per ton. The opening of the Hormuz Route will reduce input costs for fertilizer companies by 12 to 15 percent, reducing the government’s subsidy burden and alleviating the shortage of fertilizers in the open market.

6. Air Tickets: Aviation Turbine Fuel (ATF) alone accounts for 40% of an airline’s total operating expenses. With crude oil prices surpassing $125, ATF prices were at record levels. Following the decline in crude oil prices, ATF prices are expected to be cut by 10% to 12%, which could lead airlines to reduce airfares by 8% to 10%.

8. Industrial Sulfur: India is a major importer of sulfur, vital for the rubber and chemical industries. Domestic sulfur prices in India have jumped by 18% to 22% due to supply disruptions from Gulf countries. Industrial sulfur prices could fall by up to 15% as refinery production returns to normal and shipments resume.

9. Paints & Coatings: Petrochemical derivatives account for approximately 50% of the raw materials (such as resins and solvents) used in paint production. The fall in crude oil and gas prices will reduce paint companies’ overall manufacturing costs by 6 to 8 percent, which they will then pass on to consumers in the form of price reductions or discounts.

10. Online delivery and logistics services: India’s logistics index is directly linked to fuel and operating costs. As the global energy crisis subsides, the freight index is expected to decline by 7 to 10 percent. This will directly impact e-commerce and food delivery companies, potentially leading to a 5 to 8 percent reduction in delivery charges and courier fees.

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Gold Price Today: The decline in gold prices in the country has stopped. The price has increased in most cities on the morning of June 13. The price of 24 carat gold in the capital Delhi has increased to Rs 145830 per 10 grams. In Mumbai, the price is Rs 145890 per 10 grams. A day earlier, gold of 99.9 percent purity in the bullion market of Delhi increased by Rs 3,000 to reach Rs 1,56,900 per 10 grams. In the international market, spot gold is at $ 4,206.88 per ounce.

Signs of a diplomatic resolution to the US-Iran tensions have renewed investor interest in precious metals, supported by a decline in crude oil prices, the US dollar index and bond yields.

Gold rates in some major cities of the country

Gold price in Delhi : The price of 24-carat gold in Delhi is ₹145,830 per 10 grams. The price of 22-carat gold is ₹136,360 per 10 grams.

Mumbai and Kolkata: The price of 22 carat gold in Mumbai and Kolkata is Rs 136210 per 10 grams, while the price of 24 carat gold is Rs 145890 per 10 grams.

Gold price in Chennai: 24-carat gold is priced at ₹150,560 per 10 grams. 22-carat gold is priced at ₹138,010 per 10 grams.

Price in Pune and Bengaluru: In both these cities, the price of 24 carat gold is Rs 145890 per 10 grams and the price of 22 carat gold is Rs 136210 per 10 grams.

Silver price

Like gold, silver prices have also rebounded. On the morning of June 13th, the price reached ₹260,100 per kilogram. Spot silver is trading at $67.02 per ounce in the international market. Gold and silver prices in the domestic market are influenced by both domestic and global factors.

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Following the Reserve Bank of India’s (RBI) recent decision to hold the repo rate steady at 5.25%, India’s leading public and private sector banks continue to offer competitive interest rates on Fixed Deposits (FD).

For retail investors looking to lock in yields, Punjab National Bank (PNB) and ICICI Bank currently lead the pack, offering peak interest rates of up to 7.10% for senior citizens.

Peak Interest Rates & Special Tenures

While standard interest rates vary across tenures, each bank has specific “sweet spot” durations where they offer their absolute highest yields:

• Punjab National Bank (PNB): Offers its peak rates of 6.60% for general citizens and 7.10% for senior citizens. Investors need to lock in their funds for a specific tenure of 444 days to get these yields.

• ICICI Bank: Matches PNB’s senior citizen peak at 7.10% (with general citizens getting 6.50%). These maximum rates are applicable on longer-term tenures ranging from 3 years 1 day to 5 years.

• HDFC Bank: Provides a top tier of 6.50% for general citizens and 7.00% for senior citizens. This peak is active on tenures from 3 years 1 day to less than 4 years 7 months.

• Bank of Baroda (BoB): Reaches its highest rates of 6.45% for general citizens and 6.95% for senior citizens through its specialized bob Square Drive Deposit Scheme, which requires a 444-day maturity period.

• State Bank of India (SBI): Offers peak yields of 6.45% for general citizens and 6.90% for senior citizens. These figures include their high-yield flagship Amrit Vrishti scheme.

Head-to-Head Comparison: FD Interest Rate Ranges

The table below outlines the full operational interest rate ranges (from minimum to maximum available tenures) offered by these five banking institutions as of June 2026:

Investor Note: Senior citizens systematically receive an additional premium of 0.50% to 0.60% across all major commercial banks, acting as a reliable shield for retirement capital against current inflationary trends.

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With this, he has become the world’s first trillionaire. SpaceX’s mega $75 billion IPO received a tremendous response from investors, pushing both the company’s valuation and Musk’s wealth to new heights.

SpaceX’s listing changed the picture

SpaceX’s IPO received record market support. Investors welcomed the company’s $75 billion offering. Even before the listing, SpaceX’s valuation surged sharply, directly benefiting the company’s largest shareholder, Elon Musk. This surge has pushed his net worth past the $1 trillion mark.

Wealth crosses $1.1 trillion

According to the latest data, Elon Musk’s net worth now exceeds $1.1 trillion. With this, he has written a new chapter in the history of global wealth. Until now, no individual’s net worth had reached the trillion-dollar mark. Musk has become the first person in the world to achieve this feat.

Largest stake in SpaceX

The largest portion of Elon Musk’s wealth comes from his stake in SpaceX. Following the company’s surge in valuation, the value of his stake has reached record levels. In addition to SpaceX, his electric vehicle company, Tesla, also plays a significant role in his net worth.

No one is around in the rich list

Larry Page, the world’s second-richest person and Google co-founder, is estimated to have a net worth of around $300 billion. Musk’s net worth has already surpassed his. He has now far surpassed other billionaires in terms of wealth, and his hold on the top spot is stronger than ever.

Where does Elon Musk earn his money from?

Elon Musk was born in Pretoria, South Africa. After graduating from the University of Pennsylvania, he built several major businesses in the technology and space sectors. In 2008, he became the CEO of Tesla and later transformed SpaceX into the world’s most popular private space company.

Which companies does Elon Musk own?

Elon Musk isn’t limited to Tesla and SpaceX. He’s the founder, owner, or major shareholder of several major technology companies. His major companies include Tesla, SpaceX, Neuralink, The Boring Company, xAI, and the social media platform X. These companies operate in areas such as electric vehicles, space technology, artificial intelligence, brain-chip technology, and digital communications.

How far ahead is Musk compared to Ambani and Adani?

Even when combined, the combined wealth of India’s leading industrialists, Gautam Adani and Mukesh Ambani, falls far short of Elon Musk’s current net worth. Musk’s wealth surpassing $1.1 trillion has widened the gap between the world’s wealthiest individuals and other billionaires. SpaceX’s success has elevated him to a unique level in the global business world.

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Gurgaon Global City News: Haryana’s Gurugram is already one of India’s fastest-growing cities. However, it is now poised to surpass not only the country’s but also foreign cities. In Global City, India’s most ambitious project, not just Haryana’s, preparations are underway to build something that will directly rival Dubai’s Burj Khalifa. This city is planning to construct the tallest building in the country and the world.

According to reports, the HSIIDC has identified 6.7 acres of land in Haryana’s Global City project for the construction of a proposed 620- to 700-meter-tall mixed-use tower, which could become the country’s tallest building. Notably, the designated area significantly exceeds the area in Downtown Dubai, home to the Burj Khalifa. This could potentially hold the record for being both India’s tallest building and the world’s tallest building.

In such a situation, if the plan to build a huge mixed-use tower of 620 to 700 meters height in Gurugram is realised, then it will not only be the tallest building in the country, but can also give India recognition on the global stage by being included among the tallest skyscrapers in the world.

Sudeep Bhatt, Director of Strategy, Whiteland Corporation, says that Global City is not just a real estate project, but a symbol of a new vision for future urban development in Haryana and India. The proposed tower aims not only to build the country’s tallest building, but also to establish Gurugram as a major hub for global business, innovation, and investment.

He adds, “With improved connectivity, world-class infrastructure, and modern amenities, we are developing an integrated urban ecosystem where business, housing, employment, and a better lifestyle can thrive together. We are confident that this project will play a key role in bringing Gurugram global recognition and setting new standards for India’s economic progress, investment attraction, and modern urban development.”

What is the Global City Project?

The Global City Project is one of the Haryana government’s flagship urban development projects, being developed by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). Union Minister Nitin Gadkari has also described it as very significant. Spanning approximately 1,000 acres near the Dwarka Expressway, the project is planned to be a modern business, commercial, residential, and institutional hub. It aims to attract global companies, financial institutions, and technology firms.

This proposed tower will be the heart of the project.

According to reports, HSIIDC has identified 6.7 acres of land within Global City for this special tower. This tower could include commercial offices, hotels, retail space, and residential facilities. The state government is also preparing to auction various land parcels to attract investment and accelerate development work. It is being said that this tower could be the heart of the entire project.

Over the past two to three years, the Haryana government has held several rounds of discussions with leading real estate developers from Delhi-NCR, Mumbai, and Bengaluru. These discussions considered market demand, global standards, and the feasibility of developing such an iconic building. Furthermore, the infrastructure requirements required to build an international-class urban space were assessed.

This new tower will surpass existing records.

Currently, this is India’s tallest building.

If this tower reaches its proposed height of 620 to 700 meters, it will significantly surpass India’s existing tallest buildings. Currently, Mumbai’s Palais Royale, with a height of 320 meters, is the tallest building in the country. Meanwhile, the tallest building in Delhi-NCR is Cyberthum Tower A in Noida, with a height of 213.7 meters. Gurugram’s tallest completed building is Trump Towers Delhi NCR, which stands at 201.53 meters.

The proposed Global City Tower will be more than three times taller than Gurugram’s tallest existing building and nearly double the height of India’s current tallest building. With improved connectivity, modern infrastructure, and significant investment, this project could reposition Gurugram as a global business and urban hub.

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The Reserve Bank of India (RBI) has issued an official directive cancelling the Certificates of Registration (CoR) of 135 Non-Banking Financial Companies (NBFCs) under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

Following this action, these companies are legally barred from transacting the business of a non-banking financial institution as defined under clause (a) of Section 45-I of the RBI Act.

Key Highlights of the RBI Directive

• Geographic Concentration: A substantial majority of the penalised NBFCs had their registered offices located in West Bengal (primarily Kolkata), a region historically home to a high concentration of mid-sized finance and investment firms.

• Prominent Affected Entities: The broad cancellation order includes firms such as Express Fincap House, Akshay Fiscal Services, Times Finance (P), Jupiter Projects (P), Jupiter Finvest, Essel Finance Business Loans, and Citiwide Financial Services.

• The Regulatory Context: This massive sweep is part of the central bank’s ongoing supervisory push to eliminate inactive, non-compliant, or shell financial operations, ensuring absolute alignment with modern governance, reporting standards, and capital adequacy norms.

Voluntary Surrender of Licences

Separately, the RBI announced that 13 additional NBFCs have voluntarily surrendered their certificates of registration due to business exits, strategic restructuring, or legal dissolution.

The reasons for these voluntary surrenders fall into two distinct operational categories:

1. Direct Exit from the NBFI Business

Six companies voluntarily chose to wind down their financial institution operations to exit the sector entirely:

• J. Thomas Finance

• Econ-Super Sales

• Hitesha Finance and Investment

• Tinnevelly Tuticorin Investments

• Carnex Vinimay

• Impact Leasing

2. Corporate Restructuring & Dissolution

The remaining entities surrendered their licenses because they ceased to exist as independent legal entities following corporate actions such as amalgamations, mergers, voluntary strike-offs, or regulatory reclassifications:

• Forerunner Capital Investments: Surrendered its license because it transitioned to meet the specific statutory criteria prescribed for an unregistered Core Investment Company (CIC), which legally does not require an RBI registration.

• Corporate Dissolution Group: Caspian Impact Investments, Hari Darshan Sales, Ivory Consultants, SKA Consultancy Services, Trishita Management, and Suban Trades dissolved their licenses due to completed mergers, liquidations, or voluntary strike-offs.

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The Ministry of Petroleum and Natural Gas has tightened the enforcement of the “One Household, One LPG Gas Connection” policy. Under the Liquefied Petroleum Gas (Regulation of Supply and Distribution) Amendment Order, regulations have been updated to ensure the fair distribution of cooking fuel across both rural and urban sectors.

The core rule remains firm: A single household sharing a common kitchen is permitted to have only one LPG connection.

Defining a “Household” and Multiple Connections

For all regulatory and verification purposes, a household is defined by the kitchen, not just the relations under the roof.

• Who Counts as One Household: A husband, wife, dependent children, married children, or dependent parents sharing a common kitchen are legally treated as a single household. They cannot hold separate LPG connections under different family members’ names.

• The Double Bottle Connection (DBC) Option: If a single kitchen requires a backup cylinder for convenience, the family cannot apply for a second separate account. Instead, they must apply to upgrade their existing account to a DBC, which allows two cylinders legally linked to a single subscription.

• When Separate Connections Are Allowed: Multiple connections on the same property are permissible only if independent families live in separate portions of the house and maintain completely independent kitchens. This setup requires verification through a distributor field inspection, address proofs, and physical KYC documentation.

The New 30-Day LPG-PNG Transition Mandate

The government is actively driving urban homes to transition to Piped Natural Gas (PNG) to free up cylinder supplies for regions lacking pipeline infrastructure. The revised framework introduces strict deadlines and operational relaxations:

• Mandatory 30-Day Surrender: If your household gets a functional PNG connection activated, you must apply to terminate your existing domestic LPG connection (Indane, Bharat Gas, or HP Gas) within 30 days of PNG activation.

• The Future Reconnection Relief: To protect tenants, students, and employees with transferable jobs, the rule provides a vital cushion. Upon surrendering the LPG connection, consumers receive a Transfer Voucher. If they later relocate to a non-PNG area or a smaller town, this voucher allows them to instantly restore their domestic LPG connection without paying new security deposits or undergoing fresh registration hassles.

• Consequences of Non-Compliance: Failing to surrender the cylinder or register your dual status before the final compliance push on June 30 will trigger automated blocks on your account. Databases are being integrated across oil marketing companies (OMCs) and city gas networks, and duplicate or dual-connection households will have their refill bookings rejected and subsidies deactivated.

New Lock-In Booking Intervals for Regular LPG Users

For households that do not have access to PNG networks and rely solely on traditional cylinders, the minimum wait time between booking successive refills has been increased to ensure equitable supply management:

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Gold-Silver Price Today on June 9: Today, June 9, 2026, gold and silver prices are falling in the Indian bullion market. Today marks the third consecutive day that prices of these precious metals have declined. Following the global market crash on ‘Black Monday,’ gold prices fell by approximately ₹1,000 per 10 grams and silver by approximately ₹500-₹1,000 per kilogram this morning on the MCX and domestic retail markets.

latest gold price today

Silver price today

Like gold, silver prices also fell today due to selling pressure. Silver prices today remained between ₹259,900 and ₹260,000. In retail markets, the price of silver per 10 grams is hovering between ₹260 and ₹270.

Why did the price of gold and silver fall today?

A temporary pause in the Iran-Israel conflict— following US mediation and appeals—on Monday, both Iran and Israel temporarily halted airstrikes against each other. Investors have begun withdrawing money from safe-haven investments like gold and silver, hoping for a war averting.

US Treasury Bond Yields Surge – The yield on the US 10-year Treasury bond has reached a two-week high. As bond yields rise, investors tend to lose interest in gold, which doesn’t pay interest.

Strength in the Dollar Index – The strengthening US dollar globally has also impacted gold and silver prices. Spot gold on the commodity market (MCX) has fallen to a two-month low ($4,319 per ounce).

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In a bid to combat chronic gridlock and reduce emissions, the Mumbai Metropolitan Region Development Authority (MMRDA) has launched a first-of-its-kind initiative: “Public Transport Day.” Starting this week, nearly 200,000 professionals working across the Bandra Kurla Complex (BKC)—one of India’s most prominent and congested commercial business districts—are being strongly urged to leave their private cars at home every Friday and opt for trains, metros, or buses instead.

The multi-agency campaign is being deployed in active collaboration with the Brihanmumbai Electric Supply and Transport (BEST), Mumbai Metro Rail Corporation Limited (MMRCL), the Mumbai Traffic Police, local auto-rickshaw unions, and the World Resources Institute (WRI) India.

The Core Mobility Challenge in BKC

Despite the recent launch of the underground Metro Line 3 (Aqua Line) cutting directly through the business hub, vehicular traffic has not naturally receded. Mobility statistics shared during recent stakeholder roundtables paint a stark picture of the daily corporate commute:

• Vehicle Dependency: 52% of commuters traveling to BKC still rely on personal cars, app-based cabs, or auto-rickshaws. Conversely, only 25% currently use mainstream public transport daily.

• Commute Times: Over half of BKC’s 200,000-strong workforce spends more than two hours commuting every single day.

• The Friday Strategy: Planners intentionally avoided Mondays, citing rigid corporate timelines and high morning pressures. Fridays were chosen because office schedules are typically more flexible, making the workforce far more receptive to experimenting with alternative transit options.

Last-Mile Connectivity: The Primary Bottleneck

While survey data shows that 82% of commuters are willing to switch to public transport, their primary hesitation stems from what happens after they arrive at the station. Commuters describe covering the final 1 to 2 kilometers within BKC from the Aqua Line or nearby railway hubs as a major hurdle.

The immediate logistical data and current operations face a steep gap:

Remedial Interventions Under Review

To convert the initiative from a temporary technology showcase into a permanent behavioral shift, the MMRDA and its partners are testing several immediate and long-term infrastructural fixes:

• Bus Optimization: Engineering dedicated turning zones and optimized U-turn facilities for BEST buses at high-traffic junctions to cut transit times.

• Campus Shortcuts: Discussing plans with major corporate campuses to open up their private internal roads, allowing pedestrians to walk directly through properties rather than navigating massive block perimeters.

• Pedestrian Comfort: Partnering with the Walking Project to overhaul intersections and build all-weather, continuous green canopies with plant-covered roofs to protect pedestrians from harsh summer heat.

• Corporate Incentives: Advising companies to deploy internal reward systems, recognition programs, and transport expense reimbursements to motivate their teams.

The MMRDA has already ordered its own 2,000 internal and contract staff to lead by example. The campaign will be strictly monitored over the next three to four months to gather weekly bottleneck data and progressively tweak transit frequencies.

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Indian Railways is set to initiate a phased migration of its train booking operations to an entirely overhauled Passenger Reservation System (PRS) starting August 2026. Billed as one of the most substantial digital infrastructure overhauls in four decades, the new platform is engineered to expand concurrent system capacities, deploy advanced artificial intelligence tools, and eliminate peak-hour transactional bottlenecks.

The modernization trajectory was finalized following a high-level progress review at Rail Bhawan led by Railway Minister Ashwini Vaishnaw, alongside Ministers of State V. Somanna and Ravneet Singh Bittu. Directives have been issued to technical wings to ensure zero operational downtime or traveler disruption during the multi-stage system cutover.

Retiring a 40-Year-Old Legacy Framework

The legacy Passenger Reservation System architecture was initially commissioned in 1986. While it has undergone incremental updates—including the introduction of internet-based ticketing in 2002—the underlying core framework has struggled under the weight of modern digital demand.

The transition highlights a massive behavioral shift among Indian commuters toward digital-first booking channels:

• Digital Dominance: Approximately 88% of all train ticket bookings in the country are now processed via digital platforms rather than physical station counters.

• The Rise of RailOne: Central to this shift is the state’s unified RailOne mobile application. Since its rollout in July 2025, the app has surpassed 3.5 crore (35 million) downloads, averaging a daily transactional volume of 9.29 lakh tickets (comprising 7.2 lakh unreserved and 2.09 lakh reserved tickets daily).

Key Features of the Upgraded Reservation System

The rebuilt cloud-native architecture introduces key upgrades tailored to heavy traffic handling and data-driven passenger utilities:

1. High-Precision AI Waitlist Predictions

Building on predictive models trialed earlier this year, the next-gen PRS natively integrates a machine-learning algorithm designed to calculate the exact mathematical probability of a waitlisted ticket transitioning to “Confirmed” status.

Performance Milestone: Driven by historic passenger data and seasonal traffic trends, the algorithm’s predictive accuracy has successfully scaled from an initial 53% up to 94%, allowing travelers to make informed alternative arrangements well in advance.

2. Scaled Transactional Capacity

The core database architecture has been structurally expanded to eliminate systemic crashes during high-velocity windows, such as the daily opening of Tatkal booking quotas.

3. Native Dynamic Features

The system upgrade fully synchronizes with newly introduced consumer policies, including the recently authorized 30-minute window allowing commuters to digitally alter their designated boarding stations post-chart preparation.

The phased rollout will begin gradually across select zonal operations in August to monitor database stability before a complete nationwide transition is executed.

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In a significant policy tightening aimed at managing fiscal pressures from rising global fuel costs, the Central Government has reduced the annual quota of subsidised Liquefied Petroleum Gas (LPG) cylinders for Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries. The revised mandate drops the eligible count from nine down to four refills per year.

According to the Ministry of Petroleum & Natural Gas, this downward calibration aligns the state financial safety net with the actual average household consumption data recorded across rural and low-income demographics.

Evolution of the Ujjwala Scheme Subsidy Quota

Launched in May 2016, the PM Ujjwala Yojana provides deposit-free cooking gas connections to adult women from economically vulnerable households to promote clean cooking fuel. However, volatile energy markets have prompted multiple structural cutbacks over recent fiscal cycles:

• Initial Launch Blueprint: Beneficiaries were originally entitled to up to 12 subsidised 14.2-kg cylinders per year.

• The 2025 Revision: The annual capped limit was compressed down to 9 subsidised refills.

• The June 2026 Mandate: The annual quota has been permanently slashed to just 4 subsidised refills.

Price Breakdown & Immediate Household Impact

While the targeted ₹300 subsidy per 14.2-kg cylinder remains untouched, it will now only apply to the first four refills purchased in a calendar year. This effectively caps the maximum annual government subsidy support at ₹1,200 per household.

Following a cumulative price hike of ₹89 over the past three months—with the most recent market correction occurring on June 7, 2026—the financial divide between consumer segments in Delhi stands as follows:

Macroeconomic Drivers Behind the Subsidy Cap

Speaking at a media briefing in Mumbai, Praveen Mal Khanooja, Additional Secretary in the Ministry of Petroleum & Natural Gas, highlighted that the decision was driven by sharp cost overruns in the energy import and distribution sectors.

1. Surging Procurement Costs: The actual landed supply cost of a domestic 14.2-kg LPG cylinder has climbed steeply to over ₹1,600.

2. OMC Under-Recoveries: State-run Oil Marketing Companies (OMCs) are absorbing massive under-recoveries, currently losing roughly ₹700 on every single cylinder sold to the public.

3. Consumption Alignment: Ministry analytics reveal that the typical PMUY household averages roughly 4 to 4.5 cylinder refills a year, meaning the cap covers baseline cooking requirements without incentivizing commercial diversion.

The new capping structure will take effect immediately across all distribution networks, meaning any refills booked beyond the initial four will be billed at the standard market rate.

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ITR Filing 2026: Many people consider filing their Income Tax Return (ITR) merely a formality. They think that once they’ve paid their tax, the job is done. However, the ITR isn’t just a tax-related document. It’s also an official record of your income and financial situation. Therefore, filing your ITR on time can simplify many tasks later on.

1. It is easy to get a loan

If you apply for a home loan, car loan, or personal loan, banks assess your income and repayment capacity. They often ask for ITRs for the past three years. Regular ITR records help banks understand your financial situation and increase your chances of loan approval.

2. Help in getting visa

If you plan to travel, study, or work abroad, your ITR can be useful. Embassies and consulates in many countries verify your financial situation before granting a visa. Your ITR is official proof of income, proving your financial well-being.

3. How to get back excess TDS deducted

Sometimes, excessive TDS is deducted from your salary, fixed deposit interest, or freelance work. If you want to get this excess amount back, filing your ITR is essential. Without filing a return, you won’t get a tax refund.

4. Losses can be reaped in the future

If you suffer losses in the stock market or incur business losses, tax rules allow you to offset these losses against future profits. However, this benefit is only available if you file your ITR within the prescribed deadline. Failure to file your return on time will result in a loss.

5. Helps in getting a big insurance policy

Nowadays, many people take out term insurance or life insurance policies of ₹50 lakh or more to protect their families. Insurance companies verify your income before issuing such policies. Your ITR provides proof of your income and the premiums you can afford.

Not just taxes, but your financial identity too

Filing your ITR isn’t just about complying with the law. It strengthens your financial profile. It can come in handy for future needs like loans, visas, tax refunds, and insurance. So, even if your tax liability is low, regularly filing your ITR can prove beneficial in the long run.

Disclaimer: The advice or opinions expressed on Moneycontrol.com are the personal opinions of the experts/brokerage firms. The website or its management is not responsible for them. Moneycontrol advises users to always seek the advice of a certified expert before making any investment decisions.

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India’s aggressive push toward alternative energy achieved a major milestone with the official launch of E85 fuel at select dispensing stations in Delhi. Priced competitively at ₹82.12 per litre, the high-ethanol blend undercuts standard petrol by nearly ₹20 to ₹28 per litre depending on the city, presenting an attractive retail price point for motorists.

However, the introduction of this fuel introduces critical technical challenges regarding vehicle powertrain compatibility and the actual economics of vehicle running costs.

Technical Specifications: What is E85?

Unlike the nationwide E20 fuel blend (which contains up to 20% ethanol and 80% petrol), E85 is a high-concentration alternative consisting of up to 85% ethanol blended with just 15% standard petrol.

Because ethanol possesses vastly different chemical and physical properties compared to fossil fuels, it cannot be used interchangeably in standard internal combustion engines.

• Corrosivity: High ethanol concentrations are highly corrosive to standard rubber seals, fuel lines, and aluminum components found in conventional fuel delivery systems.

• Octane & Combustion: Ethanol alters the air-fuel ratio requirements, demanding specialized electronic control unit (ECU) mapping to manage ignition timing.

Vehicle Compatibility: Can Your Car Run It?

Critical Warning: The vast majority of petrol-powered cars currently operating on Indian roads cannot use E85 fuel.

Even if a vehicle is fully compliant with modern E20 fuel mandates, it is mechanically unequipped to process E85. Attempting to run a standard vehicle on this blend risks severe fuel system degradation, persistent engine misfires, and permanent mechanical failure.

To legally and safely utilize E85, a vehicle must be certified as a Flex-Fuel Vehicle (FFV). These specialized automobiles feature hardened fuel systems and smart sensors that automatically detect the ethanol-to-petrol ratio, adjusting engine calibration metrics seamlessly in real-time.

While manufacturers like Maruti Suzuki have actively showcased working prototypes—such as the Wagon R Flex Fuel—mass-market commercial availability of FFVs in India remains in its infancy.

The Efficiency Paradox: Does E85 Actually Save Money?

While a retail price of ₹82.12 per litre seems highly economical compared to Delhi’s standard petrol prices, the underlying physics of ethanol alters the financial breakdown.

Ethanol has a lower energy density than pure petrol. Data from established global flex-fuel markets like Brazil and the United States shows that vehicles operating on E85 suffer a 20% to 30% drop in fuel efficiency (kmpl) compared to standard petrol.

Real-World Cost Analysis

The table below demonstrates how a drop in thermal efficiency can offset a lower price at the pump, based on a standard driving profile:

Because the car must burn more fuel to cover the same distance, the net cost per kilometer can actually rise, proving that a lower per-litre price does not automatically yield lower operational costs.

The Broader Objective: Macroeconomic Benefits

For the Government of India, the true utility of E85 goes beyond consumer-level savings. The rollout serves three distinct macroeconomic and environmental strategies:

1. Lowering the Import Bill: Displacing crude oil imports with domestically manufactured fuel preserves crucial foreign exchange reserves.

2. Supporting Agriculture: India’s ethanol supply is heavily derived from agricultural feedstocks like sugarcane surplus and damaged food grains, directly supporting the domestic rural economy.

3. Tailpipe Emission Mitigation: Ethanol burns cleaner than fossil fuels, significantly lowering lifecycle carbon monoxide and hydrocarbon emissions.

For the everyday consumer, E85 currently stands as a promising technology showcase. Until flex-fuel vehicles become widely available at commercial dealerships, standard petrol and E20 blends will remain the default choice for mainstream motorists.

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In a regulatory filing submitted to stock exchanges, state-run explorer Oil India Ltd (OIL) announced a second consecutive natural gas discovery in the Andaman shallow offshore basin. The breakthrough, encountered at the Vijayapuram-3 exploratory well, strengthens hopes that the maritime boundary could soon emerge as India’s next major hydrocarbon-producing frontier.

The find aligns closely with India’s broader strategic mandate to accelerate domestic production and systematically reduce dependence on expensive imported crude oil and liquefied natural gas (LNG).

Technical Details of the Vijayapuram-3 Discovery

The exploration campaign was carried out under the central government’s Open Acreage Licensing Policy (OALP). Initial exploration metrics from the offshore site reveal a highly functional reservoir system:

• Geographic Coordinates: Located roughly 15 kilometers off the eastern coast of the Andaman Islands.

• Drilling Depth Profile: The well was spudded at a water depth of 355 meters. Heavy drilling operations penetrated the Eocene geological formation at a target depth exceeding 1,900 meters.

• Reservoir Performance: Upon technical perforation, the well demonstrated an immediate, sharp pressure build-up. Initial production potential was confirmed at the rig site through successful continuous flaring operations.

Tracking the Andaman Block Exploitation Rate

The Vijayapuram-3 well represents the second definitive success out of three exploratory wells drilled across the AN-OSHP-2018/1 block so far.

What Happens Next? Establishing Commercial Viability

While the back-to-back discoveries confirm that critical geological conditions—including hydrocarbon source systems, migration pathways, and physical accumulations—exist in the basin, commercial viability has not yet been locked in.

To determine the exact size, quality, and commercial scale of the reserves, the state explorer is deploying an extensive appraisal roadmap:

1. Gas Composition Sampling: Rig crews are currently extracting raw gas samples to analyze the specific chemical composition and overall calorific value of the resource.

2. Isotope Analytics: Geological scientists are running isotope studies to trace the exact origin and maturation timeline of the trapped hydrocarbons.

3. Expanded 3D Seismic Mapping: Building on older 2D seismic data, the company has acquired an additional 600 square kilometers of high-resolution 3D seismic data covering the prospect area. Data processing and software interpretation are currently underway to guide future appraisal drilling locations.

Market Reaction: Following the exchange announcement, shares of Oil India traded flat, closing near ₹488.95. Despite the immediate quiet session, the public sector stock maintains a strong positive trajectory, gaining more than 14% in year-to-date market yields.

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This highly significant corridor, being built under Phase 5A of the Delhi Metro, is expected to cost a massive ₹12,000 crore. This new route is being developed as an extension of the Delhi Metro’s Magenta Line, spanning a total length of approximately 9.913 kilometers. The project received Cabinet approval in December 2025, and work on the ground is now visible.

Here’s the complete station list

According to officials, construction work has begun rapidly at four major stations on this new route. These include Shivaji Stadium, Yuge Yugin Bharat, Central Secretariat, and Kartavya Bhawan stations. The entire corridor’s station route includes a total of 10 proposed stations. This list includes RK Ashram Marg, Shivaji Stadium, Yuge Yugin Bharat, Central Secretariat, Kartavya Bhavan, India Gate, War Memorial-High Court, Baroda House, Bharat Mandapam, and Indraprastha. The construction of these stations will significantly ease travel in Delhi’s busiest administrative and tourist areas.

Why is this metro route special?

This new metro corridor will pass directly through the heart of India’s administrative and governance system. With the opening of this route, access to Central Vista, Bharat Mandapam, the India Gate complex, the Central Secretariat, numerous government offices, courts, and major tourist destinations will become much easier. These areas of Lutyens’ Delhi and Central Delhi have been plagued by traffic jams for years due to office hours, major events, and heavy tourist traffic. Once this new metro corridor is operational, residents will be completely relieved of this daily, painful traffic bottleneck.

These areas will get bumper benefits

This major infrastructure upgrade is also set to give Delhi’s real estate market a boost. Reduced commuting times are expected to significantly increase housing demand and rentals in residential areas around Central Delhi. Additionally, proximity to government offices and business centers will also increase demand for commercial space and co-working offices. This project will directly benefit millions of working people in Connaught Place, ITO, Minto Road, Gole Market, as well as West Delhi (Janakpuri, Rajouri Garden) and East Delhi who commute to the Central Secretariat or Connaught Place daily.

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Gold and Silver Price: Due to the Iran crisis, gold and silver prices in the global market continued to fluctuate last week. This pressured gold and silver prices, and gold once again fell below ₹1.60 lakh per 10 grams. The price of gold in the Delhi bullion market fell to ₹1.59 lakh per 10 grams. This week, gold prices fell by ₹3,000 and silver by nearly ₹14,000.

According to bullion traders, the price of 99.9 percent pure gold fell by Rs 400 to Rs 1,59,900 per 10 grams (including all taxes), after reaching Rs 1.60 lakh a day earlier. This decline came after a highly volatile week, in which the price of the precious metal rose and fell in almost every session. This created uncertainty among investors throughout the week.

Gold prices fell by ₹3,000 last week

, or about 2%, reflecting the uncertainty in the precious metals markets. Silver prices fell even more sharply this week, continuing their decline for the third consecutive session, dropping ₹5,000 to ₹2,60,700 per kilogram. Silver prices also fell by about ₹14,000 over the past week, representing a decline of approximately 5.09%.

Why is there a decline in gold and silver?

Analysts said that weakness in global markets and strengthening of rupee after the Reserve Bank of India announced measures to attract foreign capital and support the domestic currency have put pressure on bullion prices. Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities, said that gold prices declined in the domestic market on Friday due to additional pressure from weakness in the international market and sharp improvement in the rupee. He said that investors tried to strike a balance between geopolitical uncertainties and the growing expectation that US interest rates may remain high for a long time.

What is the price in the global market?

In the international markets, spot gold fell marginally to $4,470.79 per ounce, while silver fell more than one percent to $72.89 per ounce. Kotak Securities’ Assistant Vice President of Commodity Research, Kaynat Chenwala, said that spot gold prices fell marginally on Friday and are heading towards losses for the second consecutive week. Due to the decline in the global market, gold and silver prices are also seen falling in the domestic market.

US bonds also increased pressure.

Gold prices saw some relief in the previous session, as falling bond yields, a weakening US dollar, and some diplomatic optimism about Washington-Tehran talks lifted prices. However, these gains quickly evaporated after Hezbollah rejected the US-brokered Israel-Lebanon ceasefire, and gold prices began to fall again.

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LPG Price Today: Domestic LPG cylinder prices remained stable amid rising petrol and diesel prices due to the US-Iran war. However, on June 1, the price of a 19-kg commercial cylinder was increased by ₹42. Meanwhile, the price of a 5-kg free trade LPG cylinder in Delhi has now risen by ₹11 to ₹821.5.

Additionally, the price of a 14.2 kg domestic LPG cylinder has remained at ₹913 since the beginning of March, when the price was increased by ₹60.

Check the latest commercial and domestic LPG cylinder prices in your city here:

Supply rates also increased

In recent months, the supply rate for a 14.2-kilogram domestic LPG cylinder has increased, reaching nearly ₹1,200 per cylinder. However, ordinary consumers are still getting this cylinder for ₹913. This increase is primarily due to a sharp jump in the Saudi contract price for propane.

Let us tell you that India imports a large part of its LPG needs and Saudi Aramco’s contract price in the international market is considered the main standard for determining the price of LPG.

According to government sources, despite rising global prices, domestic LPG cylinder prices in India are still lower than those in many neighboring countries in the region. Both subsidized and non-subsidized domestic gas cylinders remain relatively affordable compared to other countries, despite some differences in cylinder size.

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The Reserve Bank of India (RBI) has imposed a fine of ₹4.18 million on public sector Canara Bank. The central bank took this action for non-compliance with KYC (Know Your Customer) and inoperative accounts regulations. In a statement issued on Friday, the RBI said the penalty was imposed based on deficiencies observed in regulatory provisions.

Several deficiencies revealed during the inspection

The RBI conducted an inspection of Canara Bank based on its financial position as of March 2025 (ISE 2025). During the inspection, it was found that the bank had not uploaded the KYC records of some customers to the Central KYC Records Registry (CKYCR) within the stipulated timeframe.

The KYC process is a vital part of the banking system, through which customer identification and financial activities are monitored. The RBI takes any negligence in this process seriously.

Mistakes in Classifying Inoperative Accounts

During the inspection, the RBI also found that the bank had declared some accounts inoperative even though the last transaction by customers in those accounts had been less than a year ago. This was considered inconsistent with RBI guidelines. Experts believe that such mistakes can cause inconvenience to customers and impact banking services.

Fine Imposed on Another Company

The RBI also imposed a fine of ₹3.1 lakh on Purana Associates Private Limited. The company is accused of not complying with RBI guidelines related to asset classification.

Customers need not panic

The central bank clarified that these fines were imposed only based on violations of regulatory rules. This does not imply that the validity of any transactions or agreements between the entities concerned and their customers has been questioned. RBI said that its objective is to ensure better compliance of regulations in banks and financial institutions, so that the banking system remains more transparent, safe and reliable.

Read More: Delhi Weather Today: Chances of rain with thunder and lightning in Delhi, know the weather forecast of IMD

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Delhi Weather Today: Rain is expected in Delhi today, June 6, as temperatures continue to drop, bringing relief from the humid heat. However, according to the India Meteorological Department (IMD), this relief will not last long as a heat wave is set to return to the national capital. Temperatures are expected to once again reach 40 degrees Celsius.

According to the International Monetary Fund (IMD), some parts of Delhi may experience thunderstorms today. The maximum temperature is expected to be around 36 degrees Celsius and the minimum temperature around 25 degrees Celsius.

Meanwhile, strong winds of 40 to 60 kilometers per hour are possible during the afternoon. According to the Meteorological Department, due to a western disturbance and an active cyclonic system in the plains, thunderstorms, lightning, and light rain are likely in Delhi-NCR.

When will the heat wave return?

After two-three days of rain and cool weather, the scorching heat of June is likely to return to Delhi from next week as the mercury is once again expected to touch 40 degrees Celsius and rise further thereafter.

The Meteorological Department has not issued any alerts for next week, but this is likely to change. Furthermore, the IMD has forecast “strong surface winds during the day” next week.

The weather department has issued a forecast for the coming Friday, “The sky will remain generally cloudy. Light rain with thundershowers, lightning and strong winds of 40-50 kmph, gusting up to 60 kmph, are likely from morning to afternoon. Another spell of light rain with thundershowers is likely during the evening or night.”

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In a major step toward promoting sustainable mobility, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri inaugurated Delhi’s very first E85 fuel dispensing station at Pusa Road on June 5, 2026. Set up by Indian Oil, this launch officially marks the entry of high-blend ethanol fuel into the capital’s retail market, with dedicated branding to distinguish it from standard pumps.

While the retail price looks highly attractive on paper, a deeper look at ethanol’s energy density reveals a complex math equation for potential buyers.

Price Comparison: E85 vs. Existing Fuel Variants in Delhi

The primary hook for E85 is its immediate relief at the billing counter. Here is how the new fuel stacks up against existing options under ₹3 crore per litre:

The Efficiency Catch: Analyzing the Value Proposition

While a flat ₹20 discount per litre sounds massive, automotive experts point out that the financial benefit may be entirely offset by a drop in mileage.

• The Energy Density Deficit: Ethanol contains less energy by volume compared to pure petrol. Consequently, an E85-compliant vehicle is expected to see a 25% to 35% drop in fuel efficiency compared to an identical vehicle running on standard E20 petrol.

• The Global Benchmark vs. India: In Brazil—the global gold standard for flex-fuel adoption—the price gap between pure ethanol (E100) and their base blend (E27) is maintained at roughly 36% to make up for the mileage drop. In India, the current price gap sits at just 20%, meaning consumers might actually spend a similar amount per kilometer.

• Higher Upfront Vehicle Costs: Upgrading a vehicle to handle the corrosive properties of high-ethanol blends requires specialized fuel lines and engine calibration. For example, the newly launched E85-compliant Hero Splendor+ carries a ₹6,000 premium over its standard counterpart.

Rollout Roadmap and Network Expansion

The Pusa Road station is just the starting point of a aggressive infrastructure blueprint aimed at supporting early adopters.

• Short-Term Corridor (Mid-2026): The government plans to deploy 50 to 100 stations focusing on high-density transit paths, specifically the Delhi-NCR and Mumbai-Pune-Nagpur corridors.

• End of 2026 Target: The network is projected to scale rapidly to 500 operational stations nationwide by December.

• Long-Term Vision (End of 2027): An ambitious target of 5,000 operational E85 dispensing stations across major Indian metros.

Current and Upcoming E85 Vehicle Lineup

As the refueling network expands, automotive manufacturers are gradually rolling out compatible models:

• Maruti Suzuki Wagon R Flex-Fuel: The first flex-fuel car to enter mass production in India, though it is currently restricted exclusively to the commercial sector.

• Hero MotoCorp (Splendor+ & HF Deluxe): Scheduled to become available to private retail buyers starting July 2026.

• Tata Motors: Has confirmed that their first production-ready flex-fuel vehicle will debut by the end of this year.

• Toyota: Has repeatedly showcased advanced flex-fuel prototypes of the Innova Hycross, hinting at a premium market launch in the near future.

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Fixed deposit investors are closely monitoring their options after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 5.5% during its latest Monetary Policy Committee (MPC) meeting on June 5, 2026. With the central bank maintaining its stable stance, several commercial and small finance banks have quickly revised their fixed deposit (FD) interest rates to attract retail capital.

For savers looking to lock in high returns, select tenures now yield up to 8.05% for senior citizens. Punjab National Bank (PNB), Ujjivan Small Finance Bank, Union Bank of India, and DCB Bank are among the key lenders driving these fresh June updates.

At a Glance: Peak FD Rates and Tenures

If you want to secure the maximum possible yield on domestic retail deposits (under ₹3 crore), focus your investments on these specific maturities:

In-Depth Bank Review & Rate Cards

1. Ujjivan Small Finance Bank

Effective June 5, 2026, Ujjivan Small Finance Bank offers competitive yields reaching up to 7.55% for regular depositors and crossing the 8% threshold for senior citizens.

• Maximum Yield Bracket: General citizens earn 7.55% and senior citizens earn 8.05% on maturities spanning 3 Years 1 Day to 3 Years 6 Months.

• Short-to-Medium Horizon: Investors looking for a shorter commitment can lock in 7.25% for tenures between 1 year and less than 2 years.

2. DCB Bank

DCB Bank’s revised interest rates went into effect on June 1, 2026. The lender features a unique “Senior Citizens Plus” bracket for individuals aged 70 and above, matching the market’s peak return of 8.05%.

• The Triple Milestone Sweet Spots: Peak rates apply to three distinct buckets: 24 to less than 25 months, 34 to less than 35 months, and 60 to 61 months.

3. Union Bank of India

Public sector lender Union Bank of India altered its interest schedule effective June 1, 2026.

• Maturity Sweet Spot: Rather than offering broad tenure ranges, Union Bank peaks at a high-yield configuration exactly at the 555 Days mark, giving standard depositors a solid 6.65% and senior citizens 7.15%.

4. Punjab National Bank (PNB)

Punjab National Bank rolled out its updated domestic retail deposit rates on June 1, 2026. PNB splits its age-based incentives into three categories: standard public, senior citizens (ages 60 to 79), and super senior citizens (ages 80 and up).

• Special Tenure: The highest return across all three categories lands squarely on the 444-day fixed deposit. Super senior citizens can hit a maximum yield of 7.40% here.

Key Summary for Investors: While major public sector banks like PNB and Union Bank offer stability and strong mid-term options hovering between 6.60% and 7.15%, small finance private structures (like Ujjivan and DCB) are actively using this post-MPC window to offer premium milestones at 8.00% and 8.05%. Savers should map out their near-term liquidity requirements against these specific milestone days to secure optimal compound interest growth.

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Polymer Currency: RBI Governor Sanjay Malhotra has announced that the Reserve Bank of India is considering a proposal to introduce polymer currency notes in the country. Malhotra stated that the proposal is currently in its preliminary stages. It should be noted that attempts to introduce plastic notes were made previously, but these attempts were unsuccessful.

Why did it fail in the year 2012?

It’s worth noting that India also tested plastic 10 rupee notes in five cities (Kochi, Mysore, Jaipur, Bhubaneswar, and Shimla) in February 2012. However, due to significant problems with ATMs and other machines, it was discontinued.

What is polymer currency?

Polymer currency, polymer banknotes are made from a flexible, stretchy plastic substrate instead of cotton. These notes are made from Biaxially Oriented Polypropylene (BOPP). Polymer notes are not as rigid as cards, so they can be folded like paper notes.

What is the speciality of polymer currency?

• Unlike paper currency, polymer or plastic notes are more durable.
• Polymer currency is less affected by dirt and moisture.
• Due to the longer life of polymer currency, the need for repeated printing of notes is reduced.

Which countries already use plastic notes?

The introduction of this currency in India would not be a new phenomenon. Australia was the first country to use polymer currency. Following this, Canada, the United Kingdom, Singapore, Malaysia, Thailand, Indonesia, and Romania also began using polymer currency.

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Petrol-Diesel Rate: With crude oil prices falling below $100, the average global price of petrol has dropped from ₹147.90 per liter to ₹145.99 per liter. Meanwhile, in India, the average price of petrol remains stable at around ₹108.71 per liter.

Despite the higher global average, India’s prices are lower thanks to Indian oil companies, who have kept domestic prices at bay despite rising international crude oil prices. Meanwhile, in neighboring countries, petrol prices fell in Nepal, Pakistan, China, and Myanmar in June.

How much have the prices decreased in neighboring countries

What is the reason for the reduction in rates?

In fact, countries like Nepal, Pakistan, China, and Myanmar pass on the benefits of changes in international oil prices to their people fairly quickly. In Pakistan, petrol prices are reviewed every 15 days. The government, through the Oil and Gas Regulatory, sets the formula based on international Brent crude prices and the dollar’s value. The government recently significantly reduced petrol and high-speed diesel prices by ₹22.

Similarly, in Nepal too, the ‘automatic pricing system’ operates automatically based on the new price list received from Indian Oil every 15 days, hence, if the prices in the international market increase or decrease, the oil prices in the country also automatically decrease.

Where did petrol become expensive?

Petrol prices are currently rising in several other neighboring countries, including Bangladesh, Bhutan, and Sri Lanka. In Bangladesh, the price of petrol per liter has risen from ₹109.69 to ₹112.68. In Sri Lanka, the price has also risen from ₹138.99 to ₹142. In Bhutan, the price of petrol remains at ₹109.73.

When will the price decrease in India?

There’s no question of a reduction in petrol and diesel prices in India right now. Although oil prices in these countries fell slightly in June, rates in India remained stable for a long time. Last month, when international prices rose by 55%, rates remained unchanged in the local market. Indian oil companies, despite incurring losses, prevented prices from rising. Now, with global oil prices falling slightly, companies are compensating for past losses by raising rates in installments.

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India’s Unified Payments Interface (UPI) has fundamentally transformed everyday transactions, from settling grocery bills to transferring money to family members. As digital transaction volumes continue to scale rapidly, payment platforms and regulators are rolling out enhanced safety updates aimed at curbing fraud and reducing transaction errors.

In recent weeks, users have started noticing additional verification prompts during routine transfers. While the fundamental payment experience remains unchanged across major applications like Google Pay, PhonePe, Paytm, and BHIM, these updates introduce critical background checks to secure the digital ecosystem.

Why More Verification Checks Are Appearing

The primary driver behind these updates is the prominent display of verified recipient information before a user authorizes a transaction. Historically, peer-to-peer transfers relied heavily on entering mobile numbers, selecting saved contacts, or typing unique payment aliases. However, a single typographical error frequently led to funds being routed to incorrect accounts.

By making beneficiary identities highly visible on the final payment screen, platforms give users a definitive window to confirm the target account. This proactive friction specifically targets accidental transfers, which remain one of the most frequent grievances reported to banking helpdesks.

Neutralizing Digital Frauds and Scams

The immense popularity of UPI has made it a frequent target for social engineering and payment scams. Common tactics involve fraudsters generating deceptive collect requests or setting up account names that mimic legitimate businesses.

Prominent recipient displays provide an essential checkpoint against these tactics. The system encourages users to pause for a few seconds to review the verified identity behind the handle, making it significantly harder for fraudulent requests to go unnoticed. The objective is to systematically build transaction confidence without adding unnecessary delays to the user journey.

Best Practices for Everyday Security

While automated background safeguards handle the bulk of the security lifting, digital payment platforms urge users to maintain fundamental security habits:

• Verify Identity Parameters: Always cross-reference the displayed name, target payment ID, and the exact monetary amount before entering your security PIN.

• Avoid External Proofs: Never authorize payments based solely on unverified screenshots, SMS receipts, or links sent by unfamiliar numbers.

• Exercise Caution with QR Codes: Be highly skeptical of QR codes received via social media platforms or chat applications, as these are frequently used to mask unauthorized debit requests.

When dealing with unfamiliar vendors or unverified individuals, confirming credentials through an independent, trusted channel remains the safest approach before executing any transfer.

Frequently Asked Questions

Why are UPI apps showing more recipient verification details before payments?

Payment platforms are displaying verified beneficiary details more clearly to help users double-check the recipient’s identity, directly lowering the chances of accidental transfers due to typing errors.

Will these additional verification measures make UPI payments slower?

No. The enhanced security parameters are integrated to run seamlessly in the background, ensuring that transaction authorization remains as fast and convenient as the standard process.

How do these verification checks help prevent online fraud?

By exposing the actual verified name associated with an account prior to the final authorization step, the system helps users spot deceptive payment requests or cloned accounts used by scammers.

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West Bengal Chief Minister Suvendu Adhikari officially inaugurated the state government’s highly anticipated Annapurna Yojana on Wednesday. The welfare scheme promises to deliver ₹3,000 every month directly to women beneficiaries across the state.

The launch event commenced at 12:30 PM, with local administration hubs distribution sanction letters to 100 selected beneficiaries from every block, municipality, and Kolkata Municipal Corporation (KMC) area. The new initiative completely replaces the previous ‘Lakshmir Bhandar’ scheme, effectively doubling the maximum monthly financial assistance from ₹1,500 to ₹3,000.

Step-by-Step Guide to Checking Your Payment Status

Beneficiaries can track their application approval and monthly credit updates digitally or via their banking institution through the following methods:

• Social Security Portal: Visit the official state Social Security website and select the “Track Applicant Status” option.

• Log-in Credentials: You can look up your status by entering your Application ID, registered mobile number, or your linked identity card number.

• Direct Bank Verification: Since the financial aid is disbursed via Direct Benefit Transfer (DBT), beneficiaries can check their bank passbook or digital statements for direct credits.

Eligibility Criteria and Required Documents

The state government has outlined specific structural requirements for women looking to enroll in the scheme:

Who Qualifies:

• Women residents aged between 25 and 60 years.

• Applicants must not be permanent government employees receiving regular salaries or state pensions.

• Applicants must not be active income tax payers.

Required Documentation: Applicants need to compile and submit a 12-page enrollment form along with copies of their identity card, Voter ID card, valid residential proof, passport-size photographs, and an active bank account statement or passbook.

Enrolment Timeline and Welfare Camps

The official enrollment drive began on June 1 and will remain operational for a 90-day window. Local Sub-Divisional Officers (SDOs) and Block Development Officers (BDOs) are managing the primary identification process, while District Magistrates and the KMC Commissioner hold final approval authority. Local MLAs are also coordinating ward-by-ward setups to assist with registration.

For residents facing technical difficulties or paperwork challenges, alternative assistance centers will open mid-month. Public welfare camps will be organized across various regions on June 15, 16, and 17 to guide applicants through both the online and offline enrollment processes.

Frequently Asked Questions

How much financial assistance is provided under the Annapurna Yojana?

Eligible women beneficiaries will receive ₹3,000 every month. This updates and replaces the older Lakshmir Bhandar scheme which offered a maximum of ₹1,500 monthly.

Can existing Lakshmir Bhandar beneficiaries apply for this scheme?

Yes. The Annapurna Yojana directly replaces the previous initiative. Existing beneficiaries need to complete the new enrolment process and ensure their updated bank account details are properly linked to receive the revised payments.

What should I do if I cannot fill out the application form?

If you are unable to complete the 12-page form online or offline, special public welfare camps will run from June 15 to June 17 across different blocks to provide hands-on assistance.

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• Repo Rate History: From 8% to 4% and then to 5.25%, this is how EMIs have been in the last 16 years.
• Silver Price Today: Silver becomes cheaper today, know how much the silver rate has decreased in Delhi-UP-Bihar
• Open lottery for investors having different demat accounts! Zerodha offer will save thousands of rupees

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Repo Rate History: The central bank, the Reserve Bank of India (RBI), reviews its monetary policies every two months, and then announces the repo rate. RBI announcements not only mention the repo rate, but the market also closely monitors the RBI Governor’s statements on inflation and the economy. Currently, the repo rate has fluctuated significantly over the past 16 years, rising from 5% to 8%, before falling to 4% and then starting to rise.

The repo rate was raised by 25 bps to 5.00% in March 2010, after which it gradually reached 8.00% in January 2014. It then gradually declined, reaching 4% during the COVID-19 pandemic. It remained at this low level for several months and is currently at 5.25%, fluctuating. Here are details of the repo rate changes over the past 16 years.

Repo Rate History: Such was the fluctuation in 16 years

How important is the repo rate?

The repo rate is a monetary policy tool of the RBI, through which it manages inflation, liquidity, and economic growth. It is the interest rate at which commercial banks obtain loans from the RBI, collateralized by collateralizing government securities. The repo rate directly impacts the public because it significantly influences the rate at which they can access loans. Lowering the repo rate increases the likelihood of lower loan installments, while higher rates can increase the risk of higher EMIs.

The post Repo Rate History: From 8% to 4% and then to 5.25%, this is how EMIs have been in the last 16 years. first appeared on Rightsofemployees.com.

Silver Price Today: Silver prices fell today, Thursday, June 4th. Silver prices softened in the bullion markets of Delhi, Mumbai, Kolkata, Chennai, and Kerala. Here, the price of 10 grams of silver traded around ₹2,600. Meanwhile, in states like Delhi, Uttar Pradesh, and Bihar, the price of silver was ₹2,62,820. If you’re planning to buy silver, find out the price in your city today.

Silver prices soften on MCX

Gold prices edged higher, while silver prices edged lower amid rising tensions in the Middle East. Investors are turning to safe havens due to developments in Iran and global uncertainty.

In the international market, spot gold rose 0.49% to $4,489 per ounce. Spot silver fell 0.45% to trade at $73.36 per ounce. In the domestic market, the spot price of gold on MCX closed at Rs 1,54,529 per 10 grams on Wednesday.

In the futures market, gold futures for August delivery closed marginally lower by 0.05% at ₹1,58,445 per 10 grams. Silver for July delivery fell 1.43% to ₹2,62,900 per kg.

Commodity experts say gold is currently trading in a narrow range due to uncertainty surrounding the US and Iran. Rising oil prices have raised inflation concerns, raising the possibility that the US Federal Reserve will keep interest rates elevated for a longer period.

The market is now focused on US employment data, specifically non-farm payrolls and the unemployment rate, to be released this week. These data could impact the dollar, gold, and silver prices. Experts believe that global developments and the direction of US economic data will determine the precious metals’ movement in the coming days.

Silver rates in major cities of the country including Delhi and Mumbai

Silver is trading at Rs 2,62,820 per kg in Delhi, Mumbai, Ahmedabad, Kolkata, UP, Bihar, Chandigarh, etc.

Silver Rate in Chennai and Hyderabad

Today, silver prices in Chennai and Hyderabad are trading at around ₹263,690 per kilogram. Prices in South India are higher than in North India.

Here is the silver rate in the bullion market on June 4, 2026

The post Silver Price Today: Silver becomes cheaper today, know how much the silver rate has decreased in Delhi-UP-Bihar first appeared on Rightsofemployees.com.

New Delhi . Zerodha has announced a significant and beneficial decision for investors. The company has announced a refund of DP charges for transferring shares from another demat account to Zerodha. This decision will especially benefit those who have multiple demat accounts with different brokers and whose investments are scattered across multiple platforms.

According to Zerodha co-founder Nithin Kamath, investors often face difficulties in portfolio management, tax calculations, and investment tracking due to holding shares in different accounts. With the new rule, investors will be able to bring all their shares onto a single platform without worrying about additional expenses. This could also reduce the annual maintenance charge (AMC).

Now there will be no extra burden on share transfer

Until now, investors transferring shares from Groww, Angel One, Upstox, or any other broker to Zerodha had to pay DP charges. This was the reason many investors were reluctant to transfer shares. Zerodha has addressed this issue by announcing that it will refund these charges incurred during the transfer process. This could save investors thousands of rupees, especially those with large portfolios.

All investments will be visible in one place

Holding shares in different demat accounts makes it difficult for investors to get a clear picture of their total investment. Often, separate statements have to be compiled for tax filing. Having all shares in a single demat account will make portfolio tracking easier. Furthermore, the process of calculating capital gains and filing ITR will also be simplified.

This is how you can transfer shares online

If both your existing broker and Zerodha are on the CDSL platform, you can complete the entire process online through CDSL Easiest. First, you need to register on the CDSL Easiest portal. Next, add your Zerodha account as a trusted account. Then, go to the Transactions section, select the shares, and submit the transfer request. After OTP and PIN verification, the request is processed, and the shares typically appear in your new account within 1 to 2 business days.

Offline method also available

Investors who do not wish to use the online process can also transfer shares through a Delivery Instruction Slip (DIS). To do this, obtain a DIS book from your existing broker and enter your Zerodha demat account information and the details of the shares to be transferred. After signing, submit this slip to the relevant broker. The share transfer process is then completed.

Purchase price needs to be updated

Once the shares are transferred, Zerodha will no longer have data on your previous purchase price. Therefore, the shares may appear as N/A on Kite or Console. Investors will need to manually update their purchase price and purchase date to ensure accurate profit, loss, and tax calculations in the future.

Relief from AMC and tax hassles

Having multiple demat accounts requires investors to pay AMC fees at multiple locations. Furthermore, tax reporting and capital gains calculations become complicated. Zerodha’s new initiative is expected to provide relief to investors on both fronts. Keeping all investments on a single platform will reduce expenses and simplify investment management.

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Amid rapid urbanization, job migration to cities, and rising demand for rental housing, there’s a growing need to make the tenancy system more transparent and reliable. In this context, the idea of ​​a portable digital rental identity is gaining traction.

This system could give tenants a digital identity that they can carry with them from city to city and from apartment to apartment. This would make it easier to verify tenants’ trustworthiness and help landlords make better decisions.

Experts believe this new idea could completely transform the rental market in the country. This is why both its popularity and demand are growing rapidly among today’s youth.

What is Portable Digital Rental Identity?

Simply put, a “Portable Digital Rental Identity” is a digital identification card or report card for a tenant that displays their rental history. For example, when you apply for a loan or credit card from a bank, the bank checks your CIBIL score to determine whether you’ve repaid your previous loans on time.

Similarly, this digital rental identity informs a new landlord about a tenant’s timely rent payments and their track record. This can include rent payment records, feedback from previous landlords, length of rental tenure, digital rental agreements, and other relevant information.

How will tenants benefit?

Today, people face many challenges when renting a home in a new city. Providing identification, police verification, submitting employment documents, and gaining the landlord’s trust are not easy. Implementing a system like portable digital rental identity would allow tenants to share their past rental records digitally.

This will allow the new landlord to determine whether the individual paid rent on time, maintained the property, and their previous tenancy record. This can make it much easier for honest and responsible tenants to find a new home.

The major problem of landlords can also be solved.

Many landlords’ biggest concerns are whether a new tenant will be trustworthy, whether they will pay rent on time, and whether they will cause damage to the property. Portable digital rental identities could offer a solution to this problem. If landlords have access to a verified digital record of a tenant, decisions will become easier. Experts believe this could also reduce rental disputes and reduce landlords’ risk.

The problem of security deposit may also be reduced

In many Indian cities, renting a home requires a substantial security deposit. In some metropolitan areas, this amount can be equivalent to several months’ rent. Having a strong, portable digital rental identity can increase a landlord’s confidence. In such a case, reducing the security deposit amount or creating more flexible arrangements may be considered in the future. However, this will depend entirely on the landlord’s policies and local regulations.

Why is it important for Digital India?

India is rapidly moving towards a digital economy. Systems like Aadhaar, UPI, DigiLocker, and digital payments have made life easier for millions of people. Consequently, the need for digital transformation is being felt in the housing and rental sector as well.

Portable digital rental identities could be a significant step in this direction. This system can simplify, simplify, and expedite rental processes. It can also promote a culture of decision-making based on digital records.

What will be its main features?

If portable digital rental identity is widely implemented in the future, it may include the following features:

Digital tenancy history

Rent payment records

Landlord Ratings and Feedback

Digital Rent Agreement

Identity Verification (KYC)

Police verification record

Data portability on moving house

Secure data storage

These features can help alleviate many of the traditional problems associated with tenancy.

What challenges will have to be faced?

While the concept of a portable digital rental identity appears attractive, it also faces several challenges. The biggest challenge will be data privacy and security. It will be crucial to protect tenants’ personal information.

In addition, it will be necessary to ensure that false or misleading information is not recorded against any individual. Technical infrastructure, legal standards, and data protection regulations will also be crucial to the success of this system.

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Cabinet Decision: The central government has taken a major step to boost the country’s transportation and infrastructure. The Union Cabinet approved a package of ₹ 39,290 crore. This includes an ATF Price Stabilization Fund to provide relief to the aviation sector, a plan to replace old polluting trucks and buses in Delhi-NCR, new coastal highways, and several important road projects.

The government claims that these schemes will boost economic activities and provide better transportation facilities to millions of people.

Know what is the decision on ATF

The Cabinet has approved providing one-time budgetary support to oil marketing companies. The decision states that this assistance will not exceed ₹10,000 crore and is intended to help stabilize ATF prices for scheduled Indian airlines for their domestic and international operations.

The government believes this fund will help make the aviation sector more stable and competitive, while also reducing cost pressures on passengers.

Plan to replace old trucks and buses in Delhi-NCR

The cabinet also approved a special ₹ 5,041 crore plan to reduce air pollution in Delhi-NCR . Under this plan, older and more polluting trucks and buses will be phased out and replaced with BS-VI and electric vehicles.

According to Union Minister Ashwini Vaishnav, vehicle owners will also be given financial incentives to encourage them to replace their old vehicles. The main objective of this scheme is to reduce pollution levels in the capital region.

Four major highway projects were also approved.

The cabinet approved four major road projects across the country, covering Bihar, Telangana, Odisha, Tamil Nadu and Madhya Pradesh.

Major projects include:

Khagaria-Purnia National Highway section
Road widening projects in Telangana
Proposed coastal highway from Rameswaram to Paradip
National Highway Upgradation Work in Madhya Pradesh
These projects are expected to accelerate freight transport and boost regional development.

Coastal highway will increase connectivity

The government has also approved the development of a new coastal highway from Rameswaram to Paradip. This project will provide improved road connectivity to several states along the east coast. This will significantly benefit tourism, port-based industries, and business activities, and could also boost investment in coastal areas.

Congress-ruled Telangana is also elated