News digest: KYC norms, IL&FS mess, fiscal deficit, Maruti results and more

The autonomy of AI's board will depend on condition that the company will not seek financial support from the govt after 2018-19

Govt plans to give significant autonomy to Air India's board, with a rider

The government is planning steps to give significant autonomy to Air India’s (AI’s) board, in terms of capital expenditure and commercial decision-making. This, along with a debt-restructuring proposal and a financial support of Rs 150 billion, will be part of a package to improve the airline’s operational efficiency.

However, the autonomy of AI’s board will depend on condition that the company will not seek financial support from the government after 2018-19, a top official said.

The plan, which was approved by the Prime Minister’s Office last week,