MoS IT Rajeev Chandrasekhar to Meet Indian Startups to Assess Impact of Silicon Valley Bank's Collapse
India's state minister for technology said on Sunday he will meet start-ups this week to assess the impact on them of Silicon Valley Bank's collapse, as concerns rise about the fallout for the Indian start-up sector. California banking regulators shut down Silicon Valley Bank (SVB) on Friday after a run on the lender, which had $209 billion (roughly Rs. 17 lakh crore) in assets at the end of 2022, with depositors pulling out as much as $42 billion (roughly Rs. 3.4 lakh crore) on a single day, rendering it insolvent. "Start-ups are an important part of the new India economy. I will meet with Indian Startups this week to understand impact on them and how the government can help during the crisis," Rajeev Chandrasekhar , the state minister for IT said on Twitter. India has one of the world's biggest start-up markets, with many clocking multi-billion-dollar valuations in recent years and getting the backing of foreign investors, who have made bold bets on digital a