India’s government directs state-run banks and insurance companies to reduce costs and shift resources toward electric vehicles (EVs), according to reports from Business Standard and Free Malaysia Today. The order forms part of a wider austerity and spending-restraint push that follows Prime Minister Narendra Modi’s call the previous week. The directive applies to major state-controlled institutions, including State Bank of India, Bank of Baroda, and Life Insurance Corporation of India, and it is expected to affect millions of employees nationwide. While the reports characterize the measure as part of efforts to manage government and institutional spending, they also link the policy to a broader economic context, noting that the government is preparing for potential fallout from rising global tensions. The coverage does not specify detailed targets such as savings amounts, timelines, or procurement schedules, but it indicates a coordinated approach that combines financial cost controls with changes to operational fleets toward EVs across organizations under state ownership.