Stay updated with breaking news from Kiddopia Inc. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Nazara Technologies on Wednesday said two of its subsidiaries had deposits totaling Rs 64 crore in the failed Silicon Valley Bank (SVB) of the US. Out of | BLiTZ
Nazara Technologies today said that out of Rs 64 crore held by its two-step down subsidiaries in Silicon Valley Bank, Rs 60 crore has been successfully transferred to bank accounts outside SVB.
Nazara informed that both the companies -- Kiddopia Inc and Mediawrkz Inc -- have been given unrestricted access to the entire amount of Rs 64 crore that was held at SVB
Kiddopia Inc and Mediawrkz Inc have been given unrestricted access to the entire amount of USD 7.75mn that was held at SVB and a sum of USD 7.25mn has been transferred to bank accounts outside of SVB.
The collapse of SVB is just an example of a larger problem within the US banking industry.