Union Minister of State for Skill Development & Entrepreneurship and Electronics and IT, Rajeev Chandrasekhar, interacted with over 450 startups, owned/co-owned by Indians, Venture Capitalists (VCs), Industry leaders, and other stakeholders on the collapse of Silicon Valley Bank through video conferencing from New Delhi on Tuesday.
The minister assured them that the Narendra Modi government is laser-focused on helping them overcome this crisis. Rajeev Chandrasekhar said the Indian banking system was robust and suggested they could explore using it, “Indian banking system is most stable and powerful, and you must explore it as part of your organizational framework.
According to reports, it is also expected to urge the finance ministry to allow overseas branches of Indian banks to prioritize accepting deposits from these startups.
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