Indian CEO Hits Withdraw Button From SVB, Now It's The Wait
NDTV
Ruchit G Garg, the chief executive of Harvesting Farmer Network, says that they have placed a request to wire funds, but are waiting to find out if the withdrawal
As Silicon Valley Bridge Bank opened on Monday, some Indian startups were among the first ones to place a withdrawal request. One of the companies was Harvesting Farmer Network, which has been banking with Silicon Valley Bank for nearly a decade.
Ruchit G Garg, the chief executive of Harvesting Farmer Network, says that they have placed a request to wire funds, but are waiting to find out if the withdrawal
"We will know if it worked on not tomorrow because it does take some time to move money," Mr Garg tells NDTV.
Silicon Valley Bank, a key lender to startups, was closed by US regulators last week. The move has sent shockwaves in global markets, triggering fears of a 2008-like financial crisis.
