Those customers who remained at SVB have now followed a familiar path in the wake of a meltdown, by simply being shuttled into a new lender courtesy of regulators.
India has done great in regulation because it took time to think things through. The US banking crisis should encourage Modi govt to avoid rush jobs like demonetisation.
The shock of a bank failure is both immediate and long lasting. This kind of situation led to radical solutions in 1826 – essentially a restructuring of UK banking services.
Though RBI has been conservative, such banking crises pose risks to broader Indian economy — potential flight of foreign portfolio capital, pressure on rupee, bad news for stock market.
India can raise the SVB issue with G20 finance ministers and evolve a banking framework to insulate emerging economies of the South from frauds committed by the developed North.
California banking regulators shut down Silicon Valley Bank (SVB) on March 10 after a run on the lender, which had $209 billion in assets at the end of 2022.
The issue of inequality has assumed the blazing limelight at a time when inequality in India is said to be higher than it was in the British Raj. It's a ripe situation for half-truths and incendiary statements.
Speaking at launch of economist Surjit Bhalla’s book, S Jaishankar also highlights Gen Z’s engagement with ‘reel culture’, which has 'promoted awareness, created interest in many subjects'.
Germany’s erstwhile Christian Democratic Union govt, led by Angela Merkel, prevented sale of small arms to police forces in states they perceived had ‘bad human rights record’.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
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