Byju's Resignation 🤔, E-Pharmacy Regulation 💊, SEBI Investigations 🕵️‍♂️

Catch up on the latest in 🇮🇳 Indian 🇮🇳 startups and tech landscape - all in 5 minutes. [Newsletter Banner] Daily 🇮🇳 IndiaTech 🇮🇳 Roundup Welcome to the NextBigWhat Daily IndiaTech News! Today's top stories involve a resignation at Byju's, e-pharmacy regulation, SEBI investigations and more. 🔍 Stay updated on today's biggest headlines. Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( Resignation at Byju’s: WhiteHat Jr CEO Ananya Tripathi quits 🇮🇳 IndiaTech - Ananya Tripathi has offered her resignation as CEO of WhiteHat Jr, a fully owned subsidiary of Byju’s, signalling another senior-level departure at India’s most valuable business. - In April of last year, Tripathi began working for WhiteHat Jr. Prior to working with WhiteHat Jr., she served as the Managing Director at KKR Capstone. Tripathi spent over four years as the Chief Strategy Officer at Myntra. Indian Government Requests More Time to Decide on E-Pharmacy Regulation 🇮🇳 IndiaTech - The Indian government has asked the Delhi High Court for six more weeks to finalize its stance on regulating online drug sales. - This is part of a case challenging the legality of e-pharmacies in India, the next hearing is scheduled for November 16th. - Pharmacist groups have raised concern about the risks of unregulated e-pharmacies; meanwhile, the court continues to direct related government bodies to act against unlicensed e-sales of drugs. Chandrayaan-3 mission: Pragyan Rover clicks image of Vikram Lander | Visual Story [NBW Newsletter Ad]( TAKE A LOOK AT INSIGHTFUL VISUAL STORIES ON NEXTBIGWHAT Chandrayaan-3's rover, Pragyan, has taken its first image using the Navigation camera. [Check out]( SEBI Investigates 20 Entities Over Adani Share Manipulation Claims 📈 India Business - Securities and Exchange Board of India (SEBI) is investigating foreign and domestic entities over suspicions of short-selling Adani Group stocks based on prior information. - These entities, believed to have profited from the situation, are also being examined by the Income Tax department for failing to report their gains. - The probe began following allegations of stock manipulation and accounting fraud by Hindenburg Research against the Adani Group. SEBI Issues Enhanced Cybersecurity Guidelines for Market Infrastructure Institutions 📈 India Business - SEBI’s new guidelines aim to strengthen cybersecurity and resilience for entities like stock exchanges, clearing corporations, and depositories. - MIIs should maintain offline, encrypted backups, and regularly updated ‘gold images’ of critical systems. - Recommendations also cover spare hardware preparation for rebuilding systems and regular testing complying with MIIs’ response and recovery plans. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( FPSB India CEO projects 10,000 certified financial planners by 2027-28 📈 India Business - As of 2022, India has 2,517 certified financial planners (CFPs), according to Krishan Mishra, FPSB India’s CEO. - Mishra acknowledges the current number is insufficient for India’s population, but anticipates significant growth leading to 10,000 CFPs by 2027-28. - FPSB India is expanding educational partnerships and collaborating with regulators to raise awareness and promote the profession. Karnataka IT Minister promises independent bodies for online fact-checking 🇮🇳 IndiaTech - Karnataka’s IT Minister, Priyank Kharge commits to establishing independent bodies to combat online fake news. - The ‘apolitical unit’ will use predictive technologies to early detect misinformation, with Kharge assuring the public of a bias-free functioning. - However, the Editors Guild of India urges government to specify unit’s scope and powers, expressing concerns over potential censorship. PhonePe Expands into Stock and Mutual Fund Investment 🇮🇳 IndiaTech - Indian payment app PhonePe is moving into stock and mutual fund investments, leveraging its 450 million-plus user base. - PhonePe has launched Share.Market, an app offering stock trading, mutual funds and ETFs investment. - Share.Market aims to stand out by providing aggressive price discounts, comprehensive quantitative research and advanced trading strategies. Private Tutor Arrested for Posing as ISRO Scientist on Chandrayaan-3 mission 🇮🇳 IndiaTech - Authorities in Surat arrested Mitul Trivedi posing as an ISRO scientist taking credit for Chandrayaan-3 mission’s lunar lander design. - Trivedi fabricated his affiliation with ISRO to attract more students to his tuition classes. - Charges include cheating by impersonation and use of forged documents; ISRO confirmed the accused’s claims were false. Porter’s Revenues and Losses Grow in FY23, Despite No Fundraising 📈 India Business - In FY23, Porter’s revenue more than doubled to Rs 1,753.8 crore, but losses grew to Rs 175 crore. - The company’s largest expenditure was vehicle running costs, which accounted for 80.4% of the overall cost. - Although Porter did not raise additional funds in FY23, it seems poised for continued growth thanks to strong goods transportation demand and a potential move into profitability. Finance Minister Sitharaman Discusses Activist Short-Selling, Advocates For Regulatory Governance 📈 India Business - Finance Minister Sitharaman characterized activist short-selling as strategic position manipulation for profit. - She highlighted the Securities and Exchange Board of India’s role in identifying genuine concerns versus manipulative actions. - Sitharaman suggested learning from international experiences to achieve better corporate governance through activist short-selling. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](