Gold and silver prices fell sharply on Thursday even as fresh policy changes began taking shape across finance, labour and travel services. One kilogram of silver slipped by ₹5,494 to ₹2.17 lakh, while 10 grams of 24-carat gold fell ₹2,305 to ₹1.40 lakh, according to the latest bullion rates reported by IBJA-based market trackers.

The drop continues a volatile week for precious metals. Silver has now fallen by more than ₹21,000 in three days, while gold has weakened by about ₹16,000 this month, after hovering above recent highs earlier in the week. Market updates from multiple Indian bullion trackers showed prices swinging sharply intraday, with some reports noting a partial rebound after the initial fall.

EPFO services pause

The Employees’ Provident Fund Organisation’s online claim-processing portal is shut from 26 to 28 June because of system migration and software upgrading, according to official updates reported on Wednesday and Thursday. During this window, PF withdrawal, e-passbook access and several digital services are expected to remain unavailable until the upgrade is completed.

EPFO has said the move is meant to make the platform faster and more reliable in the long run, and reports suggest the organisation is preparing a future rollout of UPI- and ATM-based PF withdrawal. For salaried employees who rely on online claims, the temporary shutdown could cause short delays, especially for urgent requests filed close to the maintenance window.

Passport fees go up

From 1 July, passport applications and re-issues will cost more, after the Ministry of External Affairs revised the fee structure. A normal 36-page passport will cost ₹2,500 instead of ₹1,500, while Tatkaal service will rise to ₹5,000 from ₹3,500.

The new rates also increase fees for 60-page passports and for replacement cases where a passport is lost or damaged. Some reports note separate concessions for certain age groups, but the broad change means applicants planning travel or document renewal in early July may want to apply before the revision takes effect.

Amazon’s big bet

Amazon has also announced a fresh $13 billion investment in India to expand AI and cloud infrastructure, following CEO Andy Jassy’s meeting with Prime Minister Narendra Modi. With this addition, Amazon’s planned India investment between 2026 and 2030 has been put at $48 billion overall, according to reports from Wednesday and Thursday.

The company says the spending will support its long-term business in India and deepen its digital infrastructure footprint. Analysts say the move signals continued foreign confidence in India’s tech market, especially as demand rises for cloud, AI and logistics capacity.

Markets and fuel

Today is a market holiday on account of Muharram, so NSE and BSE will remain shut, with trading resuming on Monday, 29 June. Petrol and diesel prices have not changed today, according to the latest city-wise fuel updates.

The government has also restored commercial LPG supply by lifting sector-wise restrictions, a move aimed at easing pressure on industries after recent supply constraints. Taken together, the updates point to a busy policy week for households and businesses alike.

Amazon Job Cuts Escalate: A Wake-Up Call for Tech Workers

In the fast-paced world of e-commerce, Amazon is once again making headlines for its aggressive cost-cutting measures. Reports indicate that the company, which has already slashed over 40,000 jobs globally in the past four years, is gearing up for another round of layoffs. This time, whispers suggest Amazon layoffs in India could be on the horizon, affecting thousands in one of the company's key growth markets. As tech giants grapple with economic shifts and operational inefficiencies, this move underscores a broader trend: the push for leaner corporate structures in an AI-driven era.

Why Now? The Timing of Amazon's Latest Moves

Just months after October's cut of around 14,000 positions, Amazon is reportedly planning similar reductions starting next week. This aligns with CEO Andy Jassy's goal to trim the office workforce by about 30,000 overall. While no official confirmation has come regarding Amazon layoffs in India, sources point to potential impacts on the region's employees, where Amazon has a significant presence in tech and operations.

This isn't isolated. The e-commerce behemoth laid off 27,000 in 2022, bringing the total to over 40,000. In a tech landscape marked by post-pandemic adjustments, these Amazon job cuts reflect a strategic pivot. As inflation cools and competition heats up from rivals like Flipkart in India, efficiency is paramount.

Departments in the Crosshairs

The impending cuts are expected to span multiple divisions, mirroring past patterns:

- Amazon Web Services (AWS): The cloud arm, crucial for global tech infrastructure, may see reductions to optimize costs.

- Retail Operations: Core e-commerce functions could be streamlined amid shifting consumer behaviors.

- Prime Video: Streaming services face pressure from content wars with Netflix and Disney+.

- Human Resources: Ironically, the team handling talent might shrink as automation takes hold.

Expert Perspectives on the Root Causes

Simulating insights from industry analysts, tech consultant Dr. Elena Vasquez notes, "Amazon's bureaucracy has ballooned, slowing innovation. Jassy's focus on 'culture' is code for dismantling layers that hinder agility." Indeed, Jassy has downplayed AI as the primary driver, stating the cuts are "not really financially driven and it’s not even really AI-driven." Instead, he points to over-management in a company with 1.58 million employees, mostly in warehouses—meaning office roles, about 10% of which are targeted, bear the brunt.

Yet, Jassy admits AI's role in long-term efficiency, predicting a smaller office footprint. This duality raises questions: Is AI subtly reshaping jobs without being the scapegoat?

Practical Takeaways for Affected Workers

For those facing uncertainty, especially in India where tech jobs are vital, preparation is key. Update resumes, network on LinkedIn, and explore upskilling in AI-resistant fields like data ethics or sustainable tech. Companies like Google and Microsoft have similar histories—pivot quickly.

Severance packages from October included 90 days' pay for job hunting, a buffer ending soon. Employees should negotiate relocation or internal transfers.

A Turning Point for Amazon and the Industry

These Amazon job cuts signal a maturation phase for Big Tech, prioritizing sustainability over rapid expansion. For India, it could mean economic ripples, urging policymakers to bolster skill programs. As Jassy steers toward a nimbler Amazon, workers worldwide must adapt—or risk being left behind. In an era where AI amplifies productivity, the human element remains irreplaceable, but only if it evolves.

Amid rising digital commerce in India, the Central Consumer Protection Authority (CCPA) has hit eight e-commerce giants with a ₹44 lakh fine for illegal walkie-talkie sales. This crackdown underscores a national security threat from unauthorized devices, making it a critical update for consumers and platforms alike.

Just hours ago from New Delhi, the CCPA targeted Amazon, Flipkart, Meesho, Meta (Facebook Marketplace), and others for flouting telecom laws. Over 16,970 non-compliant listings were uncovered, operating on unauthorized frequencies beyond the legal 446.0–446.2 MHz band.

CCPA's Swift Action on Violations

The investigation exposed severe lapses. Platforms sold walkie-talkies without mandatory Equipment Type Approval (ETA) certificates or frequency compliance, breaching the Consumer Protection Act, 2019.

• Penalties Breakdown: ₹10 lakh each on Amazon, Flipkart, Meesho, and Meta; ₹1 lakh each on Chimia, Jiomart, Talk Pro, and Maskman Toys.
  
  

• Sales Scale: Flipkart moved 65,931 units with faulty details; Amazon sold 2,602 from Jan 2023 to May 2025; Meesho had 2,209 from one seller; Facebook Marketplace listed 710 illegally.
  
  

Consumer Affairs Secretary Nidhi Khare noted that Meesho, Meta, and others have paid up, with the rest pending. This isn't just about fines—it's a wake-up call on illegal walkie-talkie sales disrupting emergency networks.

National Security at Stake

Unauthorized devices risk interfering with police radios, disaster response, and government ops. CCPA Chief Mandates Reddy warned: "These gadgets pose a direct threat to public safety." In today's geo-political climate, with border tensions, such lapses can't be ignored—illegal walkie-talkie sales could aid unauthorized surveillance or jamming.

Platforms argued they were mere "intermediaries," but CCPA dismissed it. E-commerce firms must actively scan listings using tech, not just host them.

New E-Commerce Guidelines 2025: Key Takeaways

Consulted with DoT and Home Ministry, these rules mandate:

• Pre-listing checks for ETA and frequency compliance.
  
  

• Clear consumer warnings on licensing.
  
  

• Ban on misleading ads.
  
  

• AI-driven detection of illegal radio gear.
  
  

For sellers, this means stricter due diligence; for buyers, safer shopping. Experts like telecom analyst Rajiv Singh predict fewer violations but higher compliance costs for giants like Amazon and Flipkart.

This timely action aligns with India's push for secure digital markets amid booming online sales. It protects consumers from faulty gear while safeguarding national interests. Platforms must adapt fast—or face steeper penalties. As e-commerce grows, will these guidelines curb illegal walkie-talkie sales for good?