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Despite SVB Failure Indian Startups Avoid GIFT City | Why Are Indian Startups Avoiding GIFT City? 1 год назад


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Despite SVB Failure Indian Startups Avoid GIFT City | Why Are Indian Startups Avoiding GIFT City?

Silicon Valley Bank collapse has led to around $200 million worth of deposits of Indian start-ups withdrawn from the bank being moved to the Gujarat International Finance Tec-City (GIFT City). While estimates suggest that over a billion dollars of deposits of Indian start-ups were parked in SVB. Despite the efforts by Indian banks to offer Indian Startups an option of depositing the money into their respective GIFT City branches, they have avoided GIFT City. GIFT (Gujarat International Finance Tec-City) City conceptualized to be an international financial hub is located in Gandhinagar, Gujarat. It consists of a multi-service Special Economic Zone (SEZ), which houses India’s first International Financial Services Centre (IFSC) and an exclusive Domestic Tariff Area (DTA). Fintech platforms have partnered with banks such as RBL, ICICI and Kotak to set up these US Dollar banks in GIFT City. Why are Indian Startups apprehensive about transferring their SVB money back to India? Do GIFT City banks rely on SWIFT? What is SWIFT? How has SVB collapse affected Indian Startups? for answers to these questions and much more, watch this video. Don't forget to like, share and subscribe to our YouTube channel for more such current affairs videos for your UPSC preparation. For Complete Revision of Important Current Affairs for Prelims 2023, Watch Target Prelims 2023. Download the BYJU'S Exam Prep App Now! 👉 https://click.gradeup.co/Fqr0/ytIASEng Target Prelims 2023 Phase 2 Timetable (9th March - 14th April 2023): 👉 https://cdn1.byjus.com/wp-content/upl... Join us on Telegram for all the latest updates: 👉 https://t.me/BYJUSEXAMPREPIAS Subscribe to "BYJU’S IAS" Channel: 👉 https://www.youtube.com/c/BYJUSIAS?su... Subscribe to our “BYJU’S IAS Hindi” Channel: 👉 https://www.youtube.com/c/BYJUSIASHin... To provide you with the comprehensive Economy study material and make Indian Economy easier, we bring to you - 'Indian Economy Essentials'. Join us for topic-wise daily updates on Economy current affairs important for your UPSC Exam. Get a unique perspective into important economy topics for UPSC along with in-depth analysis of important Economic Events. Register FREE - BYJU’S National Scholarship Test (BNST) for IAS 👉 https://byjus.com/bnst-ias/?utm_sourc... Top Playlists for UPSC Civil Services Exam (CSE): Economy Essentials Playlist: 👉    • Delhi Mumbai Expressway | Electric Hi...   Polity Essentials Playlist: 👉    • Preamble of Indian Constitution | Wha...   The Hindu News Analysis 2023 Playlist: 👉    • The Hindu Newspaper Analysis LIVE | M...   Strategy Series Playlist: How To Prepare for UPSC Prelims & Mains? 👉    • Strategy Series | Prelims and Mains |...   Target Prelims 2023 Daily Quiz Playlist: 👉    • Daily Quiz | Master Playlist - 2023 |...   Knowledge Series Playlist | Cover 100+ Key Static Topics: 👉    • Knowledge Series | Master Playlist | ...   The Big News Playlist | Watch & Understand Big Breaking News: 👉    • The Big News | Daily Analysis of Key ...   Economy This Week Playlist: 👉    • Economy This Week | Indian Economy Ma...   International Relations This Week Playlist: 👉    • International Relations This Week | W...   Explained Playlist | In-depth Analysis of Weekly Current Affairs: 👉    • Explained | In-depth Analysis of Week...   For Current Affairs videos in Hindi visit: ‪@BYJUSIASHindi‬ For more information on BYJU'S IAS courses, call us on: +91-9538419666 Happy Learning! ‪@BYJUSIAS‬ #siliconvalleybank #giftcity #indianstartup #svbcollapse #gujaratgiftcity #giftcityinindia #startup #startups #startupindia #ifsc #sez #specialeconomiczone #SEZact #svb #SVB #svbcollapse #SVBlatestnews #swift #SWIFT #dta #ifsca #startupfunding #startupfunds #siliconvalleybankfailure #startupfinancing #smartcity #giftcity #currentaffairstoday #currentaffairstoday #currentaffairs2022 #upsceconomics #economyupsc #economy #economybasics #economyconcepts #breakingnews #currentaffairsbooster #currentevents #latestnews #currentaffairsfortoday #upsccseprelims2023 #upscpre2023 #upscpreparation #iasprelims #iasprep #iascurrentaffairs #currentaffairs #currentaffairstoday #upsccurrentaffairs #dailycurrentaffairs #todaycurrentaffairs #upsc2023 #iascurrentaffairs #dailycurrentaffairs #newsanalysis #currentaffairs2023 #byjuseconomyessentials #byjusias #byjusexamprepias

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