Rajeev Chandrasekhar said the Indian banking system is resilient and strong and that startups in the country should therefore opt for Indian banks as their preferred banking partners.
Last week, the Federal Deposit Insurance Corporation (FDIC) seized the assets of SVB marking the largest bank failure in the US since Washington Mutual during the height of the 2008 financial crisis.
Failure of SVB a curtain raiser to the pain that banks face in the event of a liquidity crisis.
