With reference to the collapse of Silicon Valley Bank, which of the following statements is/are correct?

Question

1. The Silicon Valley Bank (SVB) typically catered to start-ups, venture capitalists, and tech firms.
2. The U.S. administration and regulatory authorities guaranteed all deposits at SVB to reassure the American public.
3. Rajeev Chandrasekhar, Union Minister of State for Information and Technology, met Indian start-ups to assess the impact on them and help them tide over the situation.
4. The failure of SVB is likely to impact some Indian tech start-ups and IT firms, but any broader "contagion" that might arise would not reach Indian shores in a hurry nor were they likely to trigger "systemic risks".

How many statements given above are correct?

(a) Only one statement

(b) Only two statements

(c) Only three statements

(d) All four statements

Answer 1

Answer: (d) All four statements

 

Explanation:

 

Statement 1 is correct.

Statement 2 is correct.

Statement 3 is correct.

Statement 4 is correct.

Therefore, all four statements are correct. The collapse of Silicon Valley Bank is likely to impact Indian tech start-ups and IT firms to some extent, but it is not expected to trigger systemic risks. The U.S. administration and regulatory authorities guaranteed all deposits at SVB to reassure the American public, and Union Minister of State for Information and Technology Rajeev Chandrasekhar met Indian start-ups to assess the impact on them and help them tide over the situation.