SVB Financial Group, which does business as Silicon Valley Bank, is in a tough spot after a capital raise caused a steep 60% collapse in its share

Silicon Valley Bank is a commercial bank and one of the largest in the United States. 

SVB credit cards can be integrated into Airbase’s spend management platform.  

SVB has relationships with over 50 per cent of all venture-backed companies in the US and countless Venture Capital (VC) firms. 

SVB business card users get the benefit of Airbase’s automated approval workflows, control settings, automated accounting, and real-time reporting of all spend. 

The trading is now halted on SVB stock, and the bank is in talks with large financial institutions for a potential takeover 

Ever since the news has gone viral, many Indian neobanks have come forward to help Indian startups open their accounts in other US banks or get their money transferred to Indian accounts 

The Silicon Valley Bank's shut down is being dubbed as biggest banking failure since 2008 financial crisis.

The tech lender was closed down and put under control of the US Federal Deposit Insurance Corporation (FDIC).