Heard on the Street: After the collapse of SVB, an experimental financial hub in India is suddenly getting a new infusion of life—and dollars
Silicon Valley Bank’s swift collapse prompted regulators to implement a series of emergency measures to stem the fallout and shore up confidence in the banking system. WSJ’s Gunjan Banerji explains how the week unfolded. Illustration: Jacob Reynoldshas cast an aspiring Indian finance center into sudden relief. India, which has long been a bit player in global finance, has a chance to boost its role—but only if it moves swiftly to rectify some regulatory barriers.
This week, many Indian startups rushed to open new bank accounts in India’s Gujarat International Finance Tec-City,
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SVB Crisis: Goldman Sachs raises recession odds to 35%The bank crisis has raised the odds of a recession in the next year to 35%, according to Goldman Sachs
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