116-year-old Mumbai bank in trouble after SVB collapse
1 year, 9 months ago

116-year-old Mumbai bank in trouble after SVB collapse

Live Mint  

The repercussions of the downfall of Silicon Valley Bank, the largest retail banking collapse since the global financial crisis, have set off a chain reaction of consequences that are still being fully comprehended. We are SVC Bank, erstwhile Shamrao Vithal Cooperative Bank, one of the leading & strongest cooperative banks in India with a legacy of 116 years. “To all the trolls and arm chair commentators, atleast his bank still runs on its founder's vision and fundamentals, unlike others who've gone under. The SVC Bank said it reserved the right to take appropriate legal action against rumour mongers who tarnished its brand image.

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History of this topic

Explained | What’s next for Silicon Valley Bank?
1 year, 9 months ago

Explained | What’s next for Silicon Valley Bank?

The Hindu  

The story so far: The collapse of the California-headquartered Silicon Valley Bank in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. This morning, the Government and the Bank of England facilitated a private sale …

Silicon Valley Bank Was Not Your Bank
1 year, 9 months ago

Silicon Valley Bank Was Not Your Bank

Slate  

Silicon Valley Bank exploded last Friday, leaving the kind of wreckage that is only possible when people in charge of a financial institution blow it epically. Then inflation became a big thing, and the Federal Reserve raised interest rates, and suddenly SVB’s bond holdings were less valuable, because they were earning interest at lower rates than investors could get elsewhere. …

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…
1 year, 9 months ago

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…

Hindustan Times  

Silicon Valley Bank, a major depository to tech companies and startups, went bankrupt on Friday, leaving depositors scrambling for their money. Impact of Silicon Valley Bank collapse on Indian financial sector "Indian financial system could get impacted if the exporters who are dependent on US market start seeing slowdown in their businesses and that would impact job growth and ability …

SVB Crisis: Check The List Of Companies Impacted By US Bank Collapse
1 year, 9 months ago

SVB Crisis: Check The List Of Companies Impacted By US Bank Collapse

ABP News  

Silicon Valley Bank, regarded as a major lender for venture capital-backed firms, especially for tech start-ups, was seized by California banking regulators on Friday. Roku, a streaming devices maker, told the news agency that it has about $487 million, or 26 per cent of its cash and cash equivalents, held in deposits with SVB. Cohu Inc, a semiconductor products maker …

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours
1 year, 9 months ago

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours

News 18  

The collapse of Silicon Valley Bank, also know as SVB, is being termed as the biggest bank failure since the crisis at Washington Mutual in 2008 or the global financial crisis. Silicon Valley Bank, which was the 16th biggest commercial lender in the US, is a subsidiary of SVB Financial Group and is considered the biggest bank in Silicon Valley …

Mumbai based co-op bank distances itself from Silicon Valley Bank, the U.S. collapsed lender
1 year, 9 months ago

Mumbai based co-op bank distances itself from Silicon Valley Bank, the U.S. collapsed lender

The Hindu  

The collapse of Silicon Valley Bank of the U.S. on Friday, the biggest bank failure since 2008, has led to alleged rumour mongering in India concerning a 116 year old Mumbai based cooperative bank that has issued a public statement on Twitter distancing itself from the troubled commercial lender. “SVC Bank is completely unrelated to Silicon Valley Bank which was …

SVB: How does the largest bank failure since the 2008 crisis impact startups
1 year, 9 months ago

SVB: How does the largest bank failure since the 2008 crisis impact startups

Live Mint  

Silicon Valley Bank is the talk of the town right now. Explaining the reason behind the collapse of Silicon Valley Bank, Suman Bannerjee, CIO of Hedonova, a US-based Hedge Fund, said, "I think Silicon Valley Bank fell victim to circumstances. Gaurav VK Singhvi, Co-Founder at We Founder Circle said, "SVB has been a preferred bank for a lot of Indian …

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank
1 year, 9 months ago

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank

Hindustan Times  

The Silicon Valley Bank collapse has created ripples in the banking sector across the world. As soon as the news of SVB's collapse spread like wildfire, Mumbai-based SVC Bank became the unexpected victim of rumour-mongering on social media. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in …

Modi minister to meet Indian startups affected by Silicon Valley Bank collapse
1 year, 9 months ago

Modi minister to meet Indian startups affected by Silicon Valley Bank collapse

Hindustan Times  

Union Minister Rajeev Chandrasekhar will meet this week with Indian startups affected by the abrupt closure of troubled Silicon Valley Bank to understand the impact and offer government assistance in overcoming the crisis. I will meet with Indian startups this week to understand the impact on them and how Narendra Modi's government can help during this crisis," the union minister …

How Indian startup founders are reacting to the SVB meltdown
1 year, 9 months ago

How Indian startup founders are reacting to the SVB meltdown

Live Mint  

The fallout from the stunning collapse of the Silicon Valley Bank is likely to have consequences for the Indian start-up world. The closure of SVB Financial Group is being touted as the largest bank failure since the 2009 financial crisis. "Silicon Valley Bank's sudden collapse reminds us of the fragile foundation of bubble-fueled prosperity the world saw when valuations and …

Collapsed Silicon Valley Bank Is Not Shareholder In Paytm: CEO Vijay Shekhar Sharma
1 year, 9 months ago

Collapsed Silicon Valley Bank Is Not Shareholder In Paytm: CEO Vijay Shekhar Sharma

ABP News  

Founder and Chief Executive Officer of Paytm Vijay Shekhar Sharma on Saturday said that collapsed Silicon Valley Bank is not a shareholder of Paytm as of now. Reacting to the news regarding the effect of SVB's collapse on Indian start-ups, Sharma said that SVB was one of Paytm’s first investors but they existed the firm “long back” Vijay Shekhar Sharma …

Silicon Valley Bank crisis: Why is everyone talking about SVB right now?
1 year, 9 months ago

Silicon Valley Bank crisis: Why is everyone talking about SVB right now?

Live Mint  

The startup world was thrown into chaos Thursday when a lender little-known outside of Silicon Valley sparked a wave of panic in tech circles that dragged down banking shares around the world. Events snowballed after Silicon Valley Bank announced a share sale to shore up its finances, following a significant loss on its portfolio. SVB Chief Executive Officer Greg Becker …

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