According to a report by The Economic Times, Indian startups have deposited approximately $1 billion in Silicon Valley Bank (SVB). This was revealed by Minister of State for IT & Electronics, Rajeev Chandrashekhar, during a session at the NASSCOM India Leadership Forum in Mumbai.
SVB is a financial services company based in Santa Clara, California, that offers banking, venture capital, and other financial services to technology and life science companies. The company has a branch in India and has been actively working with Indian startups to provide them with banking, lending, and investment services.