New Delhi [India], March 13 (ANI/BusinessWire India): In light of the sudden collapse of Silicon Valley Bank, Dr Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum's Startup Connect Program thanks the U.S. Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the U.S. Treasury Department for the steps they have taken to fully preserve the insured and uninsured deposits. A swift resolution is vital for the United States to maintain its leadership in the global startup and innovation ecosystem. Silicon Valley Bank (SVB) has been the go-to bank for U.S. and foreign tech startups and members of the venture capital (V.C.) industry for years, and its abrupt halt has left several of its customers worldwide in crisis. The most immediate task was to prevent contagion beyond this limited case and maintain U.S. leadership in the global startup ecosystem by ensuring a swift and orderly resolution at SVB. The authorities have done so, realizing that fail
In light of the sudden collapse of Silicon Valley Bank, Dr. Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum’s Startup Connect Program thanks the U.S. Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the U.S. Treasury Department for the steps they have taken to fully preserve the insured and uninsured deposits. A swift resolution is vital for the United States to maintain its leadership in the global startup and innovation ecosystem.