Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country's deputy IT minister said he had suggested that local banks lend more to them going ahead
MUMBAI, March 17 - Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank
California banking regulators shut down Silicon Valley Bank on March 10 after a run on the lender, which had $209 billion in assets at the end of 2022. Hundreds of Indian startups had more than a billion dollars of their funds in SVB, according to his estimate, Chandrashekhar said.
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