SVB Crisis Tests India’s New Finance Hub Potential

📆 18/03/2023 18.00.00
📰 WSJ

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Heard on the Street: After the collapse of SVB, an experimental financial hub in India is suddenly getting a new infusion of life—and dollars

Silicon Valley Bank’s swift collapse prompted regulators to implement a series of emergency measures to stem the fallout and shore up confidence in the banking system. WSJ’s Gunjan Banerji explains how the week unfolded. Illustration: Jacob Reynoldshas cast an aspiring Indian finance center into sudden relief. India, which has long been a bit player in global finance, has a chance to boost its role—but only if it moves swiftly to rectify some regulatory barriers.

This week, many Indian startups rushed to open new bank accounts in India’s Gujarat International Finance Tec-City,

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Who in their right mind would trust India as a financialhub? Why not Nigeria?

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Silicon Valley Bank’s parent company files for bankruptcy protectionSVB Securities and SVB Capital were not included in the filing by SVB Financial Group.
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