SVB collapse: Start-ups seek govt's help to bring money to India

Sources said many start-ups which had deposits in SVB have shared worries about possible burdens due to compliance checks and taxes to be applied while bringing the money to India

Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting on Tuesday with the government over the fallout of Silicon Valley Bank’s collapse.

Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to