A round-up of the big stories
Here is a collection of the most important stories this evening:
SBI to consider $2 billion fundraising in FY24
State Bank of India (SBI) announced that it would issue senior unsecured notes to raise up to $2 billion for the next financial year. Members of the lender's board are scheduled to meet on April 18 to discuss and consider the same. More here
India plans to appeal against WTO panel ruling on IT tariffs
India is planning to appeal against a ruling from a panel at the World Trade Organization (WTO) that the Asian country violated global trading rules by imposing tariffs on some IT products, a government source said. More here
March aviation data: Domestic air traffic grows 21.4% YoY; IndiGo increases market share
Domestic air passenger traffic climbed by 21.4 percent year-on-year in March 2023, as per the data released by the Directorate General of Civil Aviation (DGCA) on April 18. More here
India eyes higher capital gains tax for rich to curb inequality
India is preparing an overhaul of its direct tax laws to replace a byzantine matrix of rules and help Prime Minister Narendra Modi reduce widening income inequality if he returns to power next year, according to people with knowledge of the matter. More here
Tata Steel in talks to raise up to $400 million in offshore green loan
Tata Steel Ltd. is in talks to raise as much as $400 million, according to people familiar with the matter, in what could become the company’s first green loan. More here
Deal activity declines 35% to $9.7 billion in March 2023 quarter: Report
Deal activities declined 35 percent to $9.7 billion across 332 transactions in the first quarter of 2023 due to an overall decline in deal activities as the fear of a global recession has gained more traction amid the continuing war on Ukraine, according to an industry report. More here
Maharashtra wants income cap for affordable housing scheme to be raised from Rs 3 lakh to Rs 6 lakh
The Maharashtra government has written to the central government to raise the annual income cap from Rs 3 lakh to Rs 6 lakh for the economically weaker section (EWS) under the Pradhan Mantri Aawas Yojana (PMAY) scheme. The state government is seeking this as a special case for the Mumbai Metropolitan Region (MMR). More here