A look at the headlines in the sector right now:

  1. Fuel dealers say they are not ready for daily pricing yet, want new system deferred: The All India Petroleum Dealers Association said they would stop buying fuel from June 16, though they claimed this was not a strike.  
  2. States keen on farm loan waivers will have to generate funds from own resources, says Arun Jaitley: The finance minister said this a day after the Maharashtra government announced they would write off loans to farmers in the state.
  3. Uber may ask CEO Travis Kalanick to step down temporarily, says The New York Times report: The company’s board has reportedly decided to rejig its leadership, as it awaits the findings of an internal investigation.
  4. Sensex, Nifty decline before inflation data is released: The BSE Sensex ended 166 points lower at 31,095 while NSE Nifty was down by 51 points to 9,616.40.  
  5. Pakistan PM Nawaz Sharif summoned by joint investigation team in Panama Papers case: He has been asked to appear before them on June 15.
  6. Finance Minister says the RBI is close to listing bad loans under bankruptcy rules: The government amended existing laws to address $150 billion in “troubled debt”.  
  7. General Electric selects John Flannery as chief executive officer: Chairperson Jeff Immelt will remain the conglomerate’s chairperson till December 31, a statement said.