A round-up of the big stories
Here is a collection of the most important stories this evening:
IMF cuts India's FY24 GDP growth forecast by 20 bps to 5.9%
The International Monetary Fund (IMF) has cut its GDP growth forecast for India for the financial year 2023-24 by 20 basis points to 5.9 percent. More here
HDFC Bank proposes to raise Rs 50,000 crore funds via bonds over next 12 months
HDFC Bank on April 11 informed the stock exchanges that it has proposed to raise funds up to Rs 50,000 crore, via the issuance of bonds, over the next 12 months. More here
Macquarie weighs sale of 9 highway projects in India for $1.5 billion
Macquarie Group is considering selling a portfolio of nine highway projects in India and may seek at least $1.5 billion, according people familiar with the situation. More here
Shapoorji Pallonji Group weighs $2 billion asset sales
Shapoorji Pallonji Group, controlled by billionaire Shapoor Mistry, is weighing asset sales including a controlling stake in its flagship engineering firm that could raise about $2 billion, according to people familiar with the matter. More here
Karnataka: I-T dept detects Rs 1,000 crore bogus expenditure after raids on co-op banks
The Income-Tax department has detected "bogus" expenditure and alleged financial irregularities worth Rs 1,000 crore after it raided some cooperative banks in poll-bound Karnataka sometime ago, the CBDT said. More here
Need steady policymaking, clear communication 'more than ever': IMF chief economist
The International Monetary Fund's (IMF) top economist has called for policymakers to have a "steady hand" and communicate clearly so that quick adjustments can be made to new developments. More here
Twitter no longer exists as company merges with Elon Musk's 'everything app' called 'X'
Twitter has announced that it has merged with an "everything app" called X, owned by Elon Musk. In a court filing, Twitter quietly disclosed that it no longer exists, and its assets have been merged with X Corp., a privately held corporation incorporated in Nevada with its principal place of business in San Francisco, California. More here