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Lessons from the Silicon Valley Bank bust

A positive development is that large domestic banks such as Axis Bank, Kotak Mahindra Bank, and ICICI Bank—along with the Indian unit of HSBC---have started to assist startups affected by the collapse of Silicon Valley Bank in opening new dollar accounts in Gujarat’s Gift City  

March 20, 2023 / 06:08 PM IST
Lessons from the Silicon Valley Bank bust

Silicon Valley Bank

Highlights The collapse of SVB is the direct result of the Fed’s rapid hiking of rates  That was aided and abetted by some irresponsible tweeting by venture capitalist icons  Indian start-ups located abroad should come back to base themselves in India  The US needs to take a leaf from India’s playbook on bank regulation  The storm will pass despite the current sell-off in US bank shares, and hopefully Indian financial institutions will be benefited  Plenty of ink has been spilt on the story of the...

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