Lesson for India from the Silicon Valley Bank collapse

The rules of the games are not the same on the US and Indian banking turfs but if risks are mispriced, the fallout could be similar

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Tamal Bandyopadhyay
“We have worked urgently over the weekend, listening to stakeholders and developing an appropriate solution to provide Silicon Valley Bank UK customers with confidence and security.

“I am pleased to be able to say we have reached a resolution.

“The good news is, customers of SVB UK will be able to access their deposits and banking services as normal from today.

“That’s because Silicon Valley Bank has been sold to HSBC. …

“No taxpayer money is involved, and customer deposits have been protected…”

Rishi Sunak, Prime Minister of UK who feels proud of being labelled as a tech geek, posted
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First Published: Mar 19 2023 | 3:30 PM IST

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