The collapse of SVB (Silicon Valley Bank) and Signature Bank in the US raises questions on the safety of other US banks too. Despite the two bank collapse, US is clueless about safety measures it should take to prevent other US banks collapse. However, economic experts believe that further collapse of banks can be avoided by right safety measures.
Indian economic experts have advised US banks to provide wooden and iron rods to prevent banks from collapsing. Experts have asked India and other big economy to export huge size of Iron and Wooden rods to US. Economic experts also believe that protecting US banks from collapsing would save the world economy from going into big depression like 2008.
Indian economic expert and ex-RBI governor, Raghuram Rajan approved the idea of wooden support to US banks. Raghuram Rajan who had approved free Rs 72,000 to every family, Nyaya Scheme of Congress, had earlier said that India must go in recession to show inclusivity. Read here.
In next two weeks, over 450 Big and small US banks will be provided support of Steel and wooden rod to avoid their collapse and thus save over 5000 startups worldwide that have investments from these banks.
