Silicon Valley Bank’s foibles don’t threaten India’s financial stability
An accident waiting to happen — that’s how veteran banker Uday Kotak has described the run on Silicon Valley Bank and the subsequent 4.1% drop in the S&P 500 Financials Index on Thursday. The contagion spreading to Asian markets by Friday. In all probability the panic is unwarranted, especially as financial regulators have presumably learned their lesson from not bailing out Lehman Brothers, triggering the global financial crisis of 2007-09.
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