Silicon Valley Bank collapse worries Indian startups as Union Minister likely to hold meeting with the startup founders

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The meeting will be held to discuss all possible measures that the government can undertake to help startups

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The Union Minister for Electronics and IT has confirmed the meeting in a press interaction on Sunday

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Several top Venture Capital firms have issued their statements on the collapse of the bank, the largest for startups

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SVB had a huge clientele of more than 2500 venture capital firms that included Bain Capital and Insight Partners

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The collapse happened after US Federal Deposit Insurance Corporation took control of the $175 billion of customer deposits

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The collapse of the bank can trigger a financial crisis with an estimated 100,000 people who might lose their jobs

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Investors of an Indian bank who happen to share the same initials as that of Silicon Valley Bank, started panicking at the news

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