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According to MoS IT Rajeev Chandrashekhar, Indian startups have deposits in SVB of roughly $1 billion

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.