SVB mixup forces India’s SVC Bank to issue a notice of clarification By Cointelegraph
[ad_1]
The shockwaves caused by the collapse of Silicon Valley Bank (SVB) were felt by countless businesses, including a bank from India with no connection to the California-based banking institution.
Soon after reports of SVB’s imminent shutdown surfaced on March 10, panic spread across the globe as investments tied to one the biggest banks in the United States depicted an uncertain future. However, a Mumbai-based 116-year-old cooperative bank — Shamrao Vithal Co-operative Bank (SVC Bank) — got caught in the line of fire.
Continue Reading on Coin Telegraph
[ad_2]
Source link
The shockwaves caused by the collapse of Silicon Valley Bank (SVB) were felt by countless businesses, including a bank from India with no connection to the California-based banking institution.
Soon after reports of SVB’s imminent shutdown surfaced on March 10, panic spread across the globe as investments tied to one the biggest banks in the United States depicted an uncertain future. However, a Mumbai-based 116-year-old cooperative bank — Shamrao Vithal Co-operative Bank (SVC Bank) — got caught in the line of fire.
Continue Reading on Coin Telegraph
About The Author
