Here are the top stories this afternoon:
A day of mixed feelings: Gopinathan, on resigning from TCS
"It’s a day of mixed feelings for me,” an emotional and reflective Rajesh Gopinathan said as he stepped down from Tata Consultancy Services (TCS) after 22 years of service. On the evening of March 16, TCS announced that Rajesh Gopinathan will step down as CEO on September 15, and that K Krithivasan is the CEO designate as of March 16. More here
HC clears decks for PwC to sue Ramalainga Raju for Rs 100 crore
Telangana High Court has cleared the decks for the audit firm PricewaterhouseCoopers (PwC) to sue B Ramalinga Raju, the disgraced founder of Satyam Computers (now merged into Tech Mahindra) for Rs 100 crore for the loss caused to its reputation and business. Details here.
PhonePe raises another $200 mn in ongoing funding from its largest shareholder Walmart
Digital payments and financial services unicorn PhonePe has raised another $200 million in its ongoing proposed $1 billion funding round from its largest shareholder Walmart at a pre-money valuation of $12 billion. In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Details here
Health insurance companies roll out premium lock-in, high no-claim bonus, coverage for senior citizens and diabetics
A clutch of insurance companies such as Bajaj Allianz General Insurance, Niva Bupa, ManipalCigna and Go Digit have, in the last few months, announced products with newer benefits such as higher sum insured for not making claims, restoration features, premium at entry age bracket locked in until first claim, covers for senior citizens, worldwide coverage and more. Read here.
Deepak Bagla steps down as MD & CEO of Invest India
Deepak Bagla, Managing Director and CEO of Invest India has stepped down after Ministry of Commerce audit questioned the work accomplished by the investment promotion body. Sources within Invest India say that the Ministry of Commerce reprimanded Bagla, stating that while all credit was being taken by Bagla, no substantial work had happened on ground. More here
EV charging stations susceptible to cyber attacks: Nitin Gadkari
Electric vehicle charging stations are also susceptible to cyber attacks and cyber security incidents like any other technological application. In a written reply to Lok Sabha, Union Minister Nitin Gadkari said the Indian Computer Emergency Response Team (CERT-In), which is mandated to track and monitor cyber security incidents in India, received reports of vulnerabilities in products and applications related to electric vehicle charging stations. Details here