SVB fallout impact: Govts across globe stepping in to look for solution

Meity may meet advisory group on e-commerce and cyber laws; meanwhile US lawmakers rush to sell SVB assets and make portion of uninsured deposits available to account holders as early as Monday

Silicon Valley Bank’s (SVB’s) collapse is already causing collateral damage that’s sinking markets and delaying paychecks. Not only are start-up founders, chief executive officers, and investors in a huddle to find a solution, but governments  are stepping in.

Minister of State for Electronics and Technology Rajeev Chandrasekhar tweeted: “The SVB closure is certainly disrupting start-ups across the world. Start-ups are an important part of New India’s economy. I will meet with Indian start-ups this week to understand the impact on them