Finance News

SVB collapse trains investor’s eye on Softbank’s startup financing As the world assesses the fallout from Silicon Valley Bank’s implosion, investors are casting a wary eye at SoftBank Group Corp. — by many measures, the startup arena’s biggest backer and advocate. Before the meltdown, Masayoshi Son’s investment powerhouse — which has poured more than $140 ...

How do countries safeguard depositors’ money when banks like SVB collapse? The fallout of the Silicon Valley Bank (SVB) has once again brought forth the matter of the safety of depositors’ money in banks. Before shutting down last week, the bank had deposits worth $175 billion. This makes it the biggest bank to collapse in US history ...

SVB crisis: Depositors to get access to ‘all of their money’ from today The resolution of the Silicon Valley Bank (SVB) will be done in a manner that “fully protects all depositors” of the bank, a statement released by Secretary of the Treasury Janet Yellen, Federal Reserve Board Chair Jerome Powell, and FDIC Chairman Martin Gruenberg said. ...

Rupee appreciates 25 paise to 81.81 against US dollar in early trade The rupee appreciated by 25 paise to 81.81 against the US dollar in early trade on Monday, tracking positive sentiments in the domestic equity market and subdued dollar against major currencies. At the interbank foreign exchange, the domestic unit opened at 81.78 against ...

SVB Crisis: What led to the collapse of start-ups’ favourite bank? On Friday, the banking regulators in the US shut down the “financial partner of the innovation economy”, as the Silicon Valley Bank (SVB) called itself after it suffered a swift collapse. It has sent shock waves across the tech and banking industries. Undoubtedly, the bank catered ...

Govt to infuse more capital in public sector general insurers next year The government may have to infuse more capital in the three public sector general insurance companies to improve their financial health, a senior government official said. The government last year provided Rs 5,000 crore capital to three insurers –National Insurance Company Limited, Oriental ...

After BoB, Bank of Maharashtra cuts home loan rate effective March 13 After Bank of Baroda, now Bank of Maharashtra (Mahabank) has reduced home loan rate by 20 basis points to 8.4 per cent per annum as the lender scales up efforts to cater to growing volumes ahead of the close of the financial year. ...

Lenders to miss March-end deadline to resolve key insolvency cases Indian lenders are set to miss March-end deadline to resolve several key bankruptcy accounts including Reliance Capital and Videocon Industries resulting in blockage of funds worth over Rs 1 trillion. The banks were targeting to conclude the entire process by March-end so that they can resolve these accounts. ...

FDIC, US Fed discuss fund to backstop deposits if more banks fail The Federal Deposit Insurance Corp. and the Federal Reserve are weighing creating a fund that would allow regulators to backstop more deposits at banks that run into trouble following Silicon Valley Bank’s collapse. Regulators discussed the new special vehicle in conversations with banking ...

SBV with Massachusetts branches seized by FDIC as depositors pull cash The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis. The FDIC ordered the closure of Silicon Valley Bank and immediately took position of ...