Interest rate hikes by the US Fed were also at the root of Silicon Valley Bank collapse in March. RBI Governor had last week said the Indian banking sector is resilient & healthy.
It would have been hard for many to miss the words “deposit insurance” on the newsfeed last month. The US-based Silicon Valley Bank had caused it to shut down. The Federal...
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.
Minister interacts with more than 450 SVB-crisis hit startups, promises to share suggestions with finance minister. Attendees raise concerns about their US dollar deposits.
SVB collapse was a circle of deposit withdrawals leading to fears of a bank run, which then resulted in a bank run. The US regulators have, however, stepped in quickly.
SVC Co-operative Bank issued a statement Sunday asking customers to not heed to 'baseless rumours', adding it reserves right to take legal action against those tarnishing its brand image.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
The decorated Naga officer from Manipur also served as envoy to Myanmar & Nagaland chief secy. Defence Minister Rajnath Singh inaugurated a museum dedicated to the Tawang hero Thursday.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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