A look at the headlines in the sector right now:

  1. RBI pushes for bankruptcy proceedings against 12 accounts that make up 25% of India’s bad loans: The central bank did not reveal the names of the holders.
  2. Uber CEO Travis Kalanick on indefinite leave, Eric Holder committee wants company culture revamped: Meanwhile, one of Uber’s board members resigned after making a sexist joke during a company-wide meeting aimed at addressing its sexist work culture.
  3. Air India running in profit, says Jayant Sinha as Centre considers privatising the national carrier: Reports say the airline currently has debts of more than Rs 50,000 crore. 
  4. Wholesale inflation drops from 3.8% to 2.1% in May: A fall in food, fuel and power prices contributed to the decline.
  5. Anil Ambani, Reliance Communications chairman, will not be paid for the current fiscal year: The company management team on-board has decided to defer their personal remuneration by 21 days.
  6. Vijay Mallya rejects charges of fund diversion, says didn’t divert any borrowed money to IPL:  Mallya, who owes as much as Rs 9,000 crore to a consortium of Indian banks, fled to Britain in March last year.
  7. Fake currency detection in banks swells to maximum in 8 years: However, the amount of fake currency detected has not been specified.