A personal note: you have all probably heard or seen short newsblurbs on the heavy rain in India on the radio or TV. However, lots of us in the IT industry have friends and colleagues there. So in addition to the somewhat limited media coverage I'd like to point out some extra news sources to get a more complete picture. If you're on a tight schedule, use the first link to get a visual impression.
Finally, a friend in the area reported that Bangalore and Hyderabad (where the brunt of the IT industry is located) are fine currently.
I'm ending with a tip: if you want to keep track of a certain area, go to the Times of India, and click 'Cities' in the left navigation bar.