Important Financial News for week 19 to 26 April 2020

• Franklin Templeton India has informed that they have shut down 6 of their debt funds , and amount will be paid to investors in phased manner as and when money is received from from the securities maturing on their due dates.
• Banks have parked more than 7 Trillion Rupees with the Central Bank i.e., Reserve Bank of India which is highest in recent times , as they are afraid of lending the bulk amount to NBFC fearing repayment delays.
• PhonepPe has informed that they are eyeing to become profitable by 2022.
• Mid sized Indian it firm Mindtree has declared their q 4 results which are better than the market expectations and their q 4 profit now stands at 206 Cores.
• Third largest public sector lender after State Bank of India and Punjab National Bank , Bank of Baroda has announced that they are planning to raise Rs 13, 500 Crores over a period of 1 years through mix of both debt and equity and also planning to sell shares to their staff under employee stock options schemes at a discount.
• Tata Steel to raise Rs 5,000 Crores via NCD and that too through private placements hence retail investors will not be getting chance to subscribe the same.
• Due to slump in demand India's number one food delivery mobile app Swiggy has informed that they shall be laying off 500 cloud kitchen staff.