Business
‘Bus fares eat my budget’: Under-22s join call for free travel
Business reporter
Maisy MoazzenkiviYoung people have told the BBC the “extortionate” cost of bus travel in England means they socialise less and struggle to pay rent.
A report by MPs has recommended everyone under the age of 22 should get free bus travel to help them get into work and education – similar to in Scotland.
The Department for Transport says it is already spending “£1bn in multi-year funding to improve the reliability and frequency of bus services across the country”.
But the BBC has heard from people aged 22 and under who say bus fares are too expensive and eat into their food budget.
‘I get hungry at college but can’t afford snacks’
Maisy MoazzenkiviMaisy Moazzenkivi, 18, lives in Coventry with her mum, dad and brother, and travels almost two hours each way to get to college, four days a week.
Maisy, has a disability bus pass because of her autism, meaning she pays less for travel than her friends. However, she still spends £8 a day on getting to college as her free travel allowance only kicks in after 09:30, half an hour after she needs to be there.
She says money she spends on travel eats into what she would otherwise spend on food and snacks throughout the day.
“Sometimes, when I finish college I’m really hungry and just want to get a meal deal or something for the way home, but it’s so expensive on top of everything. I’m very lucky that I can go home and my family can feed me, but not everyone has that.”
If bus travel was free, Maisy says she would be able to socialise more, and save for “luxury items”.
“I know it doesn’t sound like a big deal, or an essential item, but one day, I’d love to save for a Juicy Couture tracksuit,” she said.
‘I don’t understand how it’s so extortionate’
Gracie MooreGracie Moore, 22, lives in Slough and catches the bus every day to and from work, which costs her £120 a month.
“For someone who is not earning much more than minimum wage, it’s quite a big expenditure,” says Gracie who works as an administration assistant for a care home firm.
She says the high cost of travel for young people makes it difficult to navigate having a job and a social life.
Travel costs are “absolutely” a factor which stop her from moving out from her family home, she says.
“I have less independence this way, but I’m paying so much less.”
Gracie previously lived in Madrid, where she enjoyed unlimited travel on bus, train, tube, and tram) for only €8 (£6.90) a month with a young person’s travel card.
“I don’t understand how it’s so extortionate here when other countries in Europe subsidise it so well,” she says. “I just don’t know how the price of transport here can be justified.”
‘Free bus pass would make a big difference’
Nikita UpretiOriginally from Nepal, Nikita Upreti, 20, is an international student studying at University College Birmingham. She says the rising price of travel means it is getting “harder” to pay for her bus pass each month.
When Nikita first moved to Birmingham in September 2024, a monthly bus pass with a student discount cost her £49. Now, it costs her £53.
“The student discount is not helping us anymore,” she says.
Nikita also works 20 hours a week as a waitress. Despite working the maximum amount of hours her university will allow her to while studying, she still struggles to pay her rent while juggling the rising cost of living.
She says that free bus travel “would make a big difference” to her life.
“I could spend the money I save on groceries and things that would help my education. It would be really helpful.”
Business
Rupee rebounds from record low: Currency rises 128 paise to 93.57 against US dollar – The Times of India
Rupee opened the week in green, recovering sharply in early trade after regulatory intervention aimed at curbing banks’ currency exposure. The currency climbed to 93.57 against the US dollar, on Monday, gaining 128 paise from its previous close, after opening at 93.62 in the interbank foreign exchange market. This comes days after the currency had hit a record low of 94.85 on Friday, following a steep fall of 89 paise. The turnaround follows a directive issued by the Reserve Bank of India on March 27, 2026, which placed a cap of $100 million on the Net Open Position (NOP-INR) that banks can hold overnight. Lenders have been asked to comply with the new limit by April 10. Market participants said the move is prompting banks to reassess their positions, particularly those with long dollar holdings in the onshore market. As these positions are reduced, dollar sales are expected to increase, lending short-term support to the rupee. “As banks begin adjusting their positions, they are likely to sell dollars in the market, which can temporarily support the rupee. This creates a phase of relief, driven by position unwinding, not by a major shift in fundamentals, but still meaningful in the near term,” Amit Pabari, Managing Director at CR Forex Advisors told PTI. Even so, the broader environment remains challenging for the Indian currency. The dollar continues to draw strength from safe-haven demand, keeping the dollar index above the 100 mark and restricting any sustained appreciation in the rupee. The dollar index was last seen marginally lower by 0.06% at 100.09. At the same time, rising crude oil prices are adding to pressure, with Brent crude trading 2.16% higher at $115 per barrel in futures. Geopolitical tensions have played a key role in pushing oil prices higher amid concerns over supply disruptions. “For India, this is critical. Being a major oil importer, higher oil prices increase dollar demand, which directly puts pressure on the rupee,” Pabari said. He added that despite the current relief, the rupee’s outlook remains sensitive to global factors such as oil price movements, geopolitical developments and the strength of the US dollar. Dalal Street also reflected the cautious mood, with the BSE Sensex dropping 1,191.24 points to 72,391.98 in early deals, and the Nifty 50 declining 349.45 points to 22,470.15. Foreign institutional investors were also seen pulling back, having sold equities worth Rs 4,367.30 crore on a net basis on Friday, as per exchange data.
Business
Bank account portability RBI’s priority for ‘Vision 2028’ – The Times of India
MUMBAI: RBI has placed consumer empowerment through portable bank accounts and cross-border efficiency at the centre of its Payments Vision 2028, signalling a new focus to improving user experience and reducing friction in money movement.While customers can freely open accounts with any bank, savings accounts are considered ‘sticky’ because of multiple standing instruction to send and receive money into the specified account. RBI’s work around this stickiness is a Payments Switching Service where all standing instructions are centralised. This centralised interface will allow customers to view and migrate all payment mandates, both incoming and outgoingreducing dependence on individual banks making accounts portable.A key thrust is on making cross-border payments faster, cheaper and more accessible. The central bank plans a comprehensive review of the ecosystem to identify regulatory, operational and technological bottlenecks, aligning domestic systems with global standards shaped by the G20.Proposed changes aim to lower entry barriers for firms, promote innovation and reduce delays in cross-border fund transfers, even as India has been signing agreements with other countries to link domestic fast payments systems and enable CBDC acceptance.
Business
WTO talks stuck over e-commerce moratorium – The Times of India
NEW DELHI: WTO talks in Cameroon are deadlocked over a moratorium on e-commerce with the US seeking a long freeze on countries for levying tax on digital downloads and streaming, while India is so far unwilling to agree to this period.Starting from two years, India has indicated its willingness to go up to four, with the WTO draft proposing a moratorium until June 2031, two persons familiar with the ministerial level talks told TOI.But before ministers move to that the US and Brazil have to reach common ground on farm sector liberalisation. Talks between the US and Brazil are currently underway before ministers move to the issue of e-commerce. Here, the African countries have also demanded support and technical assistance before a final text can be agreed to.For over 25 years, members of the WTO have upheld a rule — no customs duties on electronic transmissions. While India has used it as a bargaining chip at every ministerial meeting.For India, the big win is managing to keep investment facilitation for development out of the WTO framework despite standing alone at the end. It has demanded “guardrails” against using plurilaterals, which are agreements between a select group of member nations. India has indicated its willingness to support discussions on reforms but it is the US which is stalling issues despite in the past signalling that WTO wasn’t moving anywhere.Talks are expected to conclude in the next few hours as ministers have started leaving Cameroon and the ministerial meeting is not going into extra time.
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