試す 金 - 無料
Banks race to help startups after SVB fallout, set up crack teams
Hindustan Times
|March 13, 2023
The banks set up specialized teams to assist startups in moving funds to their branches in Gift City when a freeze on transactions is lifted for Silicon Valley Bank.
At least three Indian banks-Axis Bank, Kotak Mahindra Bank, and ICICI Bank-along with the Indian unit of HSBC assembled crack teams to work through the weekend to assist startups affected by the collapse of Silicon Valley Bank open new dollar accounts in Gujarat's Gift City, which caters to non-residents and offshore entities.
After a run on the bank on Thursday and Friday, US regulatory authorities led by the California Department of Financial Protection and Innovation shut down SVB and appointed the Federal Deposit Insurance Corp (FDIC) as a receiver.
Due to SVB's startup-friendly policies, most US startups, and many Indian startups with US subsidiaries, banked exclusively with the bank. Deposits of significant capital from fundraises also tended to be parked with the bank.
They temporarily lost access to their accounts and those deposits after the bank was shut down on Friday night. Some startups took preemptive action hours before US authorities took charge by transferring funds aided by the Indian banks. Not everyone succeeded.
このストーリーは、Hindustan Times の March 13, 2023 版からのものです。
Magzter GOLD を購読すると、厳選された何千ものプレミアム記事や、10,000 以上の雑誌や新聞にアクセスできます。
すでに購読者ですか? サインイン
Hindustan Times からのその他のストーリー
Hindustan Times
Minority status nods doled out just hours after Ajit Pawar death
For over 100 days, the Minority Development Department in Maharashtra, part of former deputy chief minister Ajit Pawar’s portfolios, did not grant minority status to any institution.
1 min
February 17, 2026
Hindustan Times
India team heads to US to seal deal text
India’s chief negotiator Darpan Jain will visit the US next week to finalise the legal text for an interim agreement in line with the February 7 joint statement of the two countries, commerce secretary Rajesh Agrawal said on Monday, adding that Washington is expected to reduce the 25% reciprocal tariff on Indian merchandise exports to 18% soon, perhaps as early as this week.
2 mins
February 17, 2026
Hindustan Times
Afghanistan ride on Omarzai’s all-round show to beat UAE
Surely, not again. That's perhaps what the Afghanistan dugout must have thought when the equation required 17 off the last two overs against UAE at the Ferozeshah Kotla ground here on Monday.
1 mins
February 17, 2026
Hindustan Times
Physio critically hurt as relative dressed as woman attacks her
A 27-year-old physiotherapist was critically injured on Monday after her brother-in-law, whose initial target had been his wife, allegedly slit her throat at the centre she worked at in northwest Delhi’s Rohini.
1 mins
February 17, 2026
Hindustan Times
AIYAR LAUNCHES FRESH ATTACK ON CONG COLLEAGUES
Senior Congress leader Mani Shankar Aiyar on Monday launched a fresh attack against his party colleagues, even as the Congress distanced itself from his remarks, a day after he publicly said that Kerala chief minister Pinarayi Vijayan was likely to return to office after this year’s Assembly elections.
1 min
February 17, 2026
Hindustan Times
'Severely burnt' Baramati crash black box may be sent abroad
The black box of the jet that crashed in Baramati last month, killing five people including Maharashtra deputy chief minister Ajit Pawar, may have suffered extensive burn damage, raising the possibility that it may have to be sent overseas for data retrieval, officials aware of the matter said.
2 mins
February 17, 2026
Hindustan Times
'Adequate safeguards': NGT declines to step in on Nicobar project
NEW DELHI: The National Green Tribunal has held that adequate environmental safeguards have been provided in the environmental clearance granted to the Great Nicobar Holistic Development project and that there is no good ground for it to interfere in what is a project of “strategic importance”.
1 min
February 17, 2026
Hindustan Times
Delhi student Shreyas, 11 others get 100 percentile in JEE (Main)
Delhi’s Shreyas Mishra emerged as the topper of the Joint Entrance Examination (JEE) (Main) 2026 Session 1, the results of which were announced on Monday evening.
1 min
February 17, 2026
Hindustan Times
Obama says aliens are real but he hasn't seen any yet
Former US President Barack Obama said he did not see evidence that aliens “have made contact with us,” after sending social media abuzz by saying aliens were real on a podcast over the weekend.
1 min
February 17, 2026
Hindustan Times
SC to hear Sabarimala review pleas from Apr 7
The Supreme Court on Monday set the stage for the final hearing of the long-pending Sabarimala review, bringing back to life a constitutional controversy that has remained in cold storage for six years, and which could reshape the court's approach to religion-rights conflicts.
3 mins
February 17, 2026
Translate
Change font size