Category: Beyond

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Airlines flag crisis over rising fuel prices

India’s leading airlines have warned of a serious financial crisis due to rising aviation turbine fuel (ATF) prices and have sought urgent government intervention to avoid operational disruption.

Air India, IndiGo, and SpiceJet, represented by the Federation of Indian Airlines (FIA), said the sector is under “extreme stress” as fuel costs continue to rise. They have urged the Centre to revise pricing policies and provide immediate relief measures.

ATF accounts for nearly 40% of airline operating expenses, making price volatility a major challenge. Airlines say global oil price swings and supply issues have further increased costs.

The carriers have also called for a uniform ATF pricing structure across domestic and international routes, saying current differences are adding to financial strain. They have suggested temporary tax relief on jet fuel to ease pressure.

The FIA warned that without timely intervention, airlines could be forced to cut flights or even suspend parts of their operations, affecting connectivity across the country.

While passenger demand remains strong, airlines say high costs are squeezing profitability. Industry observers note that the warning reflects growing financial stress in the aviation sector.

The government is expected to examine the demands as pressure builds to stabilize the industry and prevent possible disruption to air travel services.

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Gold nears one lakh, Silver at ₹1.13 lakh

Gold and silver prices remained firm on April 29, 2026, as investors closely tracked the upcoming US Federal Reserve policy decision for signals on interest rates and inflation.

In the domestic market, gold traded near the ₹1 lakh per 10 grams level, while silver held above ₹1.13 lakh per kg. Precious metals stayed supported by global uncertainty, safe-haven demand and expectations that the US central bank may maintain current rates.

International markets moved cautiously as traders awaited comments from the Federal Reserve on future monetary policy. Gold typically benefits when interest rates remain low or when rate cuts are expected, as it does not generate fixed returns.

Meanwhile, India’s gold market witnessed a major shift in consumer behaviour during the January-March quarter. For the first time, investment demand for gold exceeded jewellery demand, showing that more Indians are now buying gold as a wealth-protection asset rather than only for ornaments.

According to industry estimates, India’s gold investment demand rose 52% year-on-year to 82 tonnes in the March quarter. Jewellery demand, however, fell nearly 20% to 66 tonnes as high prices reduced regular household purchases.

The rise in investment demand was driven by strong buying of gold bars, coins and exchange-traded funds (ETFs). Many retail and institutional investors turned to gold amid stock market volatility, inflation concerns and geopolitical tensions.

Despite the fall in jewellery purchases, India’s total gold consumption still increased by more than 10% during the quarter, reflecting continued interest in the precious metal.

Silver prices also remained steady, supported by industrial demand and global market caution. Analysts said silver may continue to track both precious metal sentiment and industrial growth expectations in coming months.

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Tech gains drive Axis Bank to cut 3,000 jobs

Axis Bank has reduced its workforce by around 3,000 employees in FY26, as its growing use of technology and automation has improved efficiency across operations.

The total employee count fell to about 1.01 lakh, down from roughly 1.04 lakh in the previous year. The bank said the change happened gradually over time rather than through a sudden layoff drive.

According to the bank, the reduction reflects productivity gains from its ongoing digital transformation. With better systems, automation and upgraded technology platforms, fewer employees are now needed to handle the same volume of work.

At the same time, Axis Bank continued to expand its physical presence. It added around 400 new branches during the year, showing that it is still investing in traditional banking channels alongside digital services.

The bank clarified that the workforce drop is not linked to any large-scale restructuring but is part of a broader shift towards efficiency and technology-led operations.

In recent years, Axis Bank has been heavily investing in digital banking, automation tools and customer service platforms. These investments are now beginning to show results in the form of improved productivity.

The trend also reflects what is happening across the banking sector, where technology is changing how work is done. Many routine tasks are being automated, allowing banks to operate with leaner teams while improving speed and service quality.

Even with fewer employees overall, banks like Axis continue to hire selectively in areas such as digital services, risk management and customer experience roles.

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China blocks Meta’s $2 billion Manus deal

Meta’s plan to buy artificial intelligence startup Manus for $2 billion has been blocked by Chinese authorities, dealing a blow to the tech giant’s efforts to strengthen its AI business.

The decision shows how sensitive AI technology has become, with governments increasingly treating it as a strategic asset rather than just another business sector.

Meta had hoped the acquisition would help it move faster in the global AI race. Manus has attracted attention for building advanced AI systems that can perform tasks such as research, planning and customer support with limited human input.

For Meta, the startup was seen as a valuable opportunity to add both technology and talent at a time when competition is intensifying with rivals such as Google, Microsoft and OpenAI.

Chinese regulators reportedly opposed the deal on national security and foreign investment grounds. The move suggests Beijing is becoming more cautious about allowing promising domestic AI companies or their technology to come under foreign ownership.

Even though Manus had links outside mainland China, authorities appear to have taken a broad view of the company’s strategic importance.

For Meta, the setback is more than a lost acquisition. It means the company may now need to spend more time and money building similar capabilities internally or searching for other partnerships.

Chief Executive Mark Zuckerberg has made AI one of Meta’s top priorities, investing heavily in smart assistants, business tools, advertising technology and future digital platforms.

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Rupee drops 24 paise to 94.39 against dollar

The Indian rupee came under pressure on April 28, 2026, slipping 24 paise to 94.39 against the US dollar, as higher oil prices and cautious global sentiment weighed on the domestic currency.

The rupee opened weaker at 94.35, compared with the previous close of 94.15, and extended losses during early trade.

Currency dealers said the sharp rise in crude oil prices was the main reason behind the fall. Brent crude traded above $109 per barrel as tensions in West Asia continued to keep energy markets on edge. For India, which depends heavily on imported oil, higher crude prices usually mean more demand for dollars to pay import bills, putting pressure on the rupee.

There was also regular month-end dollar buying from importers and oil companies. Businesses that make overseas payments often purchase dollars near the end of the month, and that added to the rupee’s weakness.

Global factors also played a role. The US dollar remained firm, while several Asian currencies traded lower as investors stayed cautious amid geopolitical tensions and uncertainty over interest rate decisions by major central banks.

Traders said the rupee’s losses were partly contained by likely intervention from state-run banks, which are often seen selling dollars when volatility rises sharply. This helped prevent a steeper decline in the domestic unit.

Meanwhile, Indian equity markets remained volatile during the session, giving little immediate support to the rupee. Foreign investment flows were also in focus, as continued outflows can weigh on the currency.

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Gold falls to ₹1,53,700, Silver slips to ₹2,59,900

Gold prices edged lower in the domestic bullion market on April 28, 2026, while silver also declined slightly, reflecting cautious sentiment and weak global trends.

According to market data, the price of 24-carat gold fell ₹10 to ₹1,53,700 per 10 grams, while 22-carat gold slipped to around ₹1,40,900 per 10 grams in major cities. Silver prices declined ₹100 to ₹2,59,900 per kilogram in the physical market.

The marginal fall in precious metal prices comes amid softer international bullion prices and investor caution ahead of major central bank policy decisions this week. Global gold prices remained under pressure as traders monitored inflation concerns and expectations that the US Federal Reserve may keep interest rates unchanged.

Rising crude oil prices have also become a key factor for bullion markets. Higher oil rates can fuel inflation fears, which generally support gold as a hedge. However, they can also strengthen expectations of prolonged higher interest rates, limiting upside in non-yielding assets like gold.

In India, jewellers said retail demand remains mixed, with consumers closely watching price movements after recent volatility. Buyers continue to prefer staggered purchases rather than aggressive fresh buying at elevated levels.

City-wise rates varied slightly depending on local taxes and logistics. In Delhi, 24-carat gold traded near ₹1,53,150 per 10 grams, while Mumbai and Kolkata remained close to ₹1,53,000 levels. Chennai prices were marginally higher.

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Crude oil tops $107 as Hormuz tensions soar

Global crude oil prices have surged sharply, with Brent crude crossing the $107 per barrel mark, after fresh tensions in the Middle East and the collapse of diplomatic talks between the United States and Iran.

The rally came as peace negotiations between the two countries reportedly stalled, with no agreement reached on reopening or securing the Strait of Hormuz. The waterway is one of the world’s most important oil shipping routes, and ongoing restrictions there have significantly reduced global supply.

According to market reports, Brent crude futures climbed to around $107.97 per barrel during intraday trading, marking a multi-week high. At the same time, US stock futures slipped, reflecting broader market uncertainty linked to rising energy costs and geopolitical risk.

The main trigger for the price surge has been continued disruption in the Strait of Hormuz, where shipping activity remains limited due to escalating tensions and security concerns. The strait normally handles a large share of global oil shipments, and any blockage or slowdown immediately impacts global supply chains.

Adding to market anxiety, diplomatic efforts involving mediators such as Pakistan reportedly failed to make progress, and no new round of talks has been confirmed. This has reduced expectations of an immediate resolution, pushing traders to price in tighter supply conditions.

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NTPC plans ₹25,000 cr nuclear project in Bihar

State-run power company NTPC is planning a major nuclear energy project in Bihar’s Banka district. The company is currently studying the feasibility of setting up two nuclear power units, each with a capacity of 700 megawatts (MW), making a total proposed capacity of 1,400 MW.

The project, if approved, is expected to require an investment of around ₹25,000 crore. At this stage, NTPC has not made a final decision and is conducting technical and environmental assessments before preparing a detailed project report.

The proposed site in Banka is located about 250 km from Patna. Initial reports suggest that nearly 1,000 acres of land may be needed for the project. The Bihar government has expressed full support for the initiative and has assured assistance in providing land and ensuring adequate water supply, which is essential for nuclear power generation.

NTPC’s move is part of its broader plan to expand into nuclear energy and reduce dependence on fossil fuels like coal. The company is also looking to strengthen its presence in low-carbon and clean energy sources in line with India’s long-term energy goals.

If the project goes ahead, it would be one of the largest energy investments in Bihar and could significantly boost the state’s power infrastructure. It would also contribute to India’s broader strategy of increasing nuclear power capacity as part of its clean energy transition.

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Government pushes PSU Banks on wage revision

The Finance Ministry has asked public sector banks to complete the next wage revision process for employees and officers within the next 12 months, aiming to ensure salary hikes are implemented on time from November 2027.

The move relates to the upcoming 13th Bipartite Settlement, under which salaries, allowances and service conditions of bank staff are revised every five years.

Officials have asked banks to begin preparations early and avoid delays that affected previous wage settlements. The government said timely completion of the process is important for smooth operations and industrial harmony in the banking sector.

Usually, wage negotiations are handled by the Indian Banks’ Association with employee unions and officers’ bodies. The final agreement impacts lakhs of employees working in public sector banks and some private lenders.

The ministry has also asked banks to complete necessary approvals and procedural changes in advance so that the revised salary structure can be implemented without delay.

The development comes at a time when public sector banks are reporting strong profits and improved balance sheets after years of clean-up and reforms.

Employee unions are expected to closely monitor the talks, as the settlement directly affects salaries, allowances and retirement benefits.

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Gold at ₹1.53 lakh, Silver at ₹2.46 lakh

Gold prices remained close to record highs across India on Monday, April 27, while silver prices saw a slight dip as investors continued to track global developments and movement in commodity markets.

In major cities such as Delhi, Mumbai and Pune, 24-carat gold was priced at around ₹1.53 lakh per 10 grams, while 22-carat gold was trading near ₹1.40 lakh. Silver was quoted at about ₹2.46 lakh per kilogram in the retail market.

Traders said gold continues to attract buyers as it is traditionally seen as a safe investment during uncertain times. Ongoing geopolitical tensions and volatility in global markets have kept demand strong, helping prices stay firm at elevated levels.

At the same time, hopes of easing tensions in the Middle East prevented any sharp spike in prices. Market participants said investors are balancing risk concerns with expectations that diplomatic progress could reduce pressure on global markets.

Jewellers noted that domestic demand has become selective because of the steep rise in prices. Many retail buyers are purchasing smaller quantities or waiting for corrections before making large jewellery purchases.

Silver prices, meanwhile, remained under some pressure and slipped slightly compared to the previous session. Analysts said silver tends to be more volatile than gold because it is influenced not only by investment demand but also by industrial consumption trends.

Despite high prices, jewellers are expecting stronger footfalls in the coming days as Akshaya Tritiya and the wedding season approach. Both occasions are traditionally considered favourable for buying gold, which could support demand even at current levels.

Experts believe gold and silver may continue to witness sharp moves this week depending on global cues, especially developments in crude oil prices, currency markets and international political tensions.

For consumers planning to buy jewellery, traders advise checking purity, hallmark certification, making charges and GST before making purchases, as final prices vary from city to city and store to store.

Investors are also being advised to buy gradually rather than all at once, given the current volatility in bullion prices.

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