India currently offers residential electricity at very low prices, while industrial consumers face some of the highest rates globally. Mishra warns that this disparity affects industrial competitiveness, stating, “This disparity in electricity prices affects industrial competitiveness and job creation.”

The backdrop of this call for reform is the ongoing geopolitical tensions in West Asia, which present India with a unique opportunity to overhaul its energy sector. With the current WTI crude oil price at approximately $85 per barrel and Brent crude at around $90, the implications for India’s economy are significant.

Mishra highlighted the potential consequences if crude oil prices stabilize at $110 per barrel, predicting that the Indian rupee could depreciate to ₹100 against the US dollar. He noted, “Reforming energy prices is not just about reducing costs, but also about enhancing capacity and fostering innovation.”

High industrial energy costs could worsen if the rupee continues to fall, further straining India’s economic landscape. Mishra emphasized the need for reforms that balance social justice with industrial competitiveness.

Investments in energy efficiency and alternative resources are crucial to mitigate risks associated with currency fluctuations and volatile energy costs. The government is expected to focus on providing stable, low-cost electricity by investing in green energy and infrastructure capacity.

Mishra also referenced Japan’s response to the oil crises of the 1970s as a historical example of how energy reform can lead to economic growth. He remarked, “India already is undertaking reforms in the energy sector, such as expanding renewable energy and modernizing grids.”

As the situation evolves, the urgency for reform in India’s energy pricing remains critical. Details remain unconfirmed regarding the specific measures that will be implemented, but the call for action is clear.

The post యాక్సిస్ బ్యాంక్: Axis Bank’s Neelkanth Mishra Calls for Urgent Energy Pricing Reforms appeared first on berightnews.

Axis Bank announced changes to the Airtel Axis Bank Credit Card, altering cashback mechanics and removing airport lounge access. These changes will take effect on April 12, 2026, and are expected to impact cardholders significantly.

The card previously offered a robust 25% cashback on Airtel payments, capped at INR 250 per month. Additionally, cardholders enjoyed 10% cashback on utility payments made via the Airtel Thanks app, also capped at INR 250 per month. Cashback on popular platforms like Swiggy, Zomato, and BigBasket was previously set at 10%, alongside a general 1% cashback on other spends.

Removal of Lounge Access

Another significant change includes the removal of 4 complimentary domestic lounge visits per year, a benefit that many users valued. This alteration is part of a broader shift in the card’s offerings, which now dilute the simplicity that made the card popular among consumers.

Under the new structure, cashback caps will now depend on the amount of base cashback earned in the same statement cycle. The previous cashback on Swiggy, Zomato, and BigBasket has been replaced with a 10% value back on Zomato, Blinkit, and District Movies. However, the maximum value back is limited to INR 200 per partner per month, with a minimum order value of INR 499 required for Zomato and Blinkit.

The Airtel Axis Bank Credit Card was previously one of the strongest cashback cards in the sub-INR 1,000 annual fee category, making it a popular choice for many consumers. The recent changes, however, may lead to dissatisfaction among existing cardholders who appreciated the previous benefits.

As the April 2026 implementation date approaches, observers are keenly watching how these changes will affect customer retention and satisfaction. Details remain unconfirmed regarding any potential responses from cardholders or adjustments from Axis Bank to address customer concerns.

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