A day after US-based Silicon Valley Bank (SVB) collapsed and shut down its operation, SVC Co-operation Bank Limited issued a statement following confusion on social media. “SVC Bank is completely unrelated to Silicon Valley Bank (SVB) which was based in California. We request our members, customers, and other stakeholders not to pay attention to baseless rumours and mischief-mongering by unscrupulous elements insinuating similarities in brand names,” the 116-year-old bank tweeted. Silicon Valley Bank Collapse: Over 1 Lakh Jobs at Risk, 10,000 Startups Face Payroll Failure, Y Combinator CEO Tells US Treasury Secretary.

SVC Bank Issues Statement:

(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter (X), Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)