Yami gautam kangana ranaut

Indian technology minister Rajeev Chandrashekhar said on Thursday that Indian tech startups had over $1 billion worth of deposits in California’s Silicon Valley Bank (SVB) when the bank was shut down by regulators on March 10. The figure quoted by Chandrashekhar was considerably higher than the impression India has conveyed until now about its exposure to SVB. The technology minister said last Sunday that he would spend the week talking to start-up executives to “understand the impact on them,” and on Thursday he said he has determined hundreds of Indian companies had funds in the bank. “The issue is, how do we make startups transition to the Indian banking system, rather than depend on the complex cross border U.S. banking system with all of its uncertainties in the coming month?” Chandrashekhar said . One of the suggestions Chandrashekhar received during his week of talking with Indian tech execu tives was to “offer a deposit-backed credit line to … [Read more...] about India Says Tech Startups Had About 1 Billion in Silicon Valley Bank

Hindenburg Research, the small investment firm whose critical investigative reports pummeled shares in an Indian industrial conglomerate and an electric-vehicle start-up, has found its newest target: Jack Dorsey’s financial technology company, Block. Hindenburg published a 17,600-word report on Thursday accusing Block of overstating its user base and failing to stamp out fraud and illegal activity on its platforms — particularly Cash App, its mobile payment service. “We think Block has misled investors on key metrics, and embraced predatory offerings and compliance worst practices in order to fuel growth and profit from facilitation of fraud against consumers and the government,” Hindenburg wrote in its report. Shares in Block fell closed 15 percent lower on Thursday, recovering somewhat after plunging nearly 20 percent in morning trading. Block responded to the accusations by saying it intended to “explore legal action against Hindenburg Research.” “Hindenburg is known … [Read more...] about Short Seller Accuses Jack Dorsey’s Block of Facilitating Fraud