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:

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