Shocks and surprises
Tata Consultancy Services CEO Rajesh Gopinathan resigned on March 16, shocking even insiders. The company’s board named K Krithivasan, another company veteran, as CEO designate, and added that Gopinathan would help with the transition through September 15. This still doesn’t answer why Gopinathan had to quit, making this a story of unintended consequences and lingering questions. Read here
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The great collapse
On March 10, Silicon Valley Bank (SVB) was closed by California bank regulators, making it the second-largest bank failure since Washington Mutual in 2008. There was turbulence in Europe as well due to Credit Suisse, with its key shareholder refusing to provide additional support through the infusion of capital. The bank crises are unlikely to result in a great financial disaster but are sizeable enough to create volatility and shake confidence. How safe is India? Read here
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Potential to shine
The legacy of any sporting event has two sides to it. The first legacy is the physical infrastructure created, and the second is the effect on those who have been part of it, as well as how those in the vicinity will benefit from it. Given the significant numbers of Indian people who were involved in the FIFA World Cup, perhaps the Indian government should be addressing how this talent could be used to boost India’s own sports industry. Read here
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