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Days after US regulators announced the shutdown of the Silicon Valley Bank (SVB), the former BharatPe co-founder remarked that he is eager to see how many venture capitalists (VCs) lose their jobs in the aftermath.
Silicon Valley Bank collapse: SVB's stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout.
Following Silicon Valley Bank's disclosure, investors punished the banking sector in total on Thursday, but by Friday, shares in some larger banks posted gains.
![Confused with US's SV Bank crisis, besieged SVC Bank threatens legal action [details] - Vimarsana News](https://data1.ibtimes.co.in/en/full/782867/confused-uss-sv-bank-crisis-besieged-svc-bank-threatens-legal-action.jpg)
Hours after the crisis affecting the Silicon Valley Bank (SVB), the US, hit the headlines, panic gripped customers of a 116-year-old Mumbai-based entity, the SVC Bank.
The collapse of Silicon Valley Bank, which is the biggest retail banking failure since the global financial crisis, has triggered a wave of implications the reach of which is yet to be ascertained.