Banks are closing in America, what is the crisis in India’s banking sector? Understand the whole matter from the experts. Silicon Valley went bankrupt, it was the beginning of the global recession
As the US banking crisis and global economic uncertainty mount, the government’s chief economic adviser has warned that governments, companies and citizens must keep a safety margin with themselves to avoid the crisis.
Information about deposits of Indian startups in Silicon Valley Bank i.e. SVB has been provided by the government. Minister of State for IT Rajeev Chandrasekhar said SVB has about $1 billion in Indian startup capital. After the SVB crisis, the government held a meeting with Indian startups. The Minister of State for IT said that Indian banks should lend more to startups in future so that Indian startups do not face challenges due to crises like SVB. As the US banking crisis and global economic uncertainty mount, the government’s chief economic adviser has warned that governments, companies and citizens must keep a safety margin with themselves to avoid the crisis.
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