News digest: PFC's stressed assets, Power NPAs, lending rates and more

From PFC's stressed assets,GST collection in may to Air India divestment, BS brings you up to date with the latest news

ONGC likely to get  dividend waiver for price freeze
 
As part of a long-term solution to keep petrol and diesel prices in check, the government is in talks with Oil and Natural Gas Corp (ONGC) to freeze the price of the crude oil it supplies to oil-marketing companies. According to sources, this could lead to the company getting a waiver on the dividend it pays to the Centre, which is Rs 50-60 billion on an annual basis. Read More
 
Global firms line up for PFC’s stressed assets
 

Close to a dozen Indian and foreign financial institutions and funds have expressed an interest in buying the stressed thermal power assets of Power Finance Corp (PFC).  Read More

 
May GST mop-up declines to Rs 940 billion
 
The goods and services tax (GST) yielded Rs 940.16 billion in May, 4.5 per cent higher than the average monthly collection last year, backed by improved compliance due to the introduction of the e-way bill, which tracks the movement of goods. Incremental impact on revenues is expected over the next few months, when the e-way bill system becomes mandatory even for intra-state movement of goods.  Read More
 
Power NPAs get HC relief for a month
 
The Allahabad High Court, hearing a petition by the Independent Power Producers Association of India (IPPAI) against insolvency proceedings, has directed the finance ministry to conduct a meeting with stakeholders and work out a possible solution in a month. Read More

 
SBI, HDFC, three others increase lending rates
 
State Bank of India (SBI) raised its benchmark lending rates by 10 basis points (bps), followed by Punjab National Bank (PNB), ICICI Bank, Kotak Mahindra Bank and Housing Development Finance Corp (HDFC).   Read More
 
AI no-show: Govt blames inadequate risk-taking appetite
 
What went wrong? Who messed it up? The day after Air India disinvestment failed to take off, government officials across ministries and departments spent hours trying to find an answer to these questions. Many of those spearheading the sale put the blame on the dealmakers and advisors for failing to attract potential bidders, others pointed at the industry for the fiasco. Read More