The Indian government has issued fresh instructions as Govt directs state-run banks and insurers to cut costs and improve efficiency. The move aims to reduce expenses in public sector financial institutions and encourage sustainable practices.
Officials said Govt directs state-run banks and insurers to cut costs by limiting unnecessary spending and improving operational efficiency. Major institutions such as State Bank of India, Bank of Baroda and Life Insurance Corporation of India will follow the new guidelines issued by the Finance Ministry.
Under the directive, most meetings should take place through video conferencing. Physical meetings should be held only when absolutely necessary. Senior officials must also reduce foreign travel and attend international meetings online whenever possible.
The government has also asked institutions to adopt eco-friendly transport. Offices and branches will gradually replace petrol and diesel vehicles with electric vehicles to reduce fuel costs and carbon emissions.
These measures aim to control expenses while promoting environmentally responsible operations across public sector financial institutions.
