Biden administration s announced that depositors of Silicon Valley Bank (SVB) will have access to their money, has given hope, said Nasscom s Senior Vice President
Apex IT industry body Nasscom on Monday said the US administration's stance on protecting depositors of Silicon Valley Bank that collapsed, is "reassuring" for Indian startups who have funds in that bank.
On Sunday, US Treasury Secretary Janet Yellen said the federal government will not bail out SVB. However, the government is working to help depositors whose money is in the bank.