How to save Silicon Valley Bank: Billionaire Bill Ackman sees a difficult way out, Uday Kotak weighs in too
As the $80 billion wipeout in wealth caused by the Silicon Valley Bank crisis shook Wall Street overnight, market veterans weighed in on the ongoing rout in banking stocks. Uday Kotak, CEO, Kotak Mahindra Bank, tweeted about the crisis at Silicon, referring to it as an inevitable “accident” that was waiting to happen. Alternatively, Pershing Square founder Bill Ackman said that the US government should consider a “highly dilutive” bailout of Silicon Valley Bank if a private capital can’t provide a solution.
US bank stocks crash: Panic at Silicon Valley Bank, 60% value lost amid desperate capital raise attempt
The shares of US-based Silicon Valley Bank – a lender of choice to startups and tech firms – sank 60% on Thursday, as it launched a $1.75 billion capital raise to make up for $1.8 billion loss from a forced sale of its securities portfolio. Silicon Valley Bank sought to reassure investors and venture capital clients regarding the safety of their funds. The bank is attempting to strengthen its balance sheet and sail through amid declining deposits from startups that are struggling for capital amid a funding winter.
TAX PLANNING: Four financial tasks to complete before April 1
We are close to the end of FY23 and FY24 will begin from April 1. Around this time, most of us are busy making new investment plans. However, to avoid problems ahead, here are some important tasks you must complete before the new financial year kicks in. The?Income Tax?Department has announced March 31, 2023 as the last date to link your PAN card with Aadhaar. PAN and Aadhaar can be linked now along with a penalty of Rs 1000. If you don’t link both ID cards before the final deadline, your PAN will become inoperative. The last date to link PAN and Aadhaar without a penalty was June 30, 2022.
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Is the cryptocurrency industry headed for another debacle with Silvergate post FTX
The crypto landscape seems to have hit a new roadblock with Silvergate Bank, a Californian-based crypto bank, facing a liquidity crunch. Experts believe that this situation can trigger extreme volatility and investors’ scepticism, once again, post the FTX scandal.?According to Bitcoin.com, a Bitcoin exchange, tensions mounted over Silvergate’s future prospects post FTX debacle. On September 20, 2022, Silvergate stated that FTX constituted below 10% of its total deposits worth $11.9 billion from every digital asset customer.
Bengaluru-Mysuru Expressway to be inaugurated on THIS date! Find out everything you need to know
Good news for commuters! Travelling from Bengaluru to Mysuru is going to get smoother. You will now be able to cover the distance in just 75 minutes. The 118 km long expressway project which has been constructed at a total cost of around Rs 8,480 crores, is set to be inaugurated by Prime Minister Narendra Modi on March 12, 2023. The expressway has been constructed in two phases. Of this 52 km section is a greenfield that consists of five bypasses that have been opened.?
Only a good person can create a good environment and generate positive thinking and energy in the team.
8 个月A case pending from kotak mahindra life insurance company service branch meerut uttar Pradesh as on 19 apr 2023