Explained: How the Silicon Valley Bank collapsed and how it is causing ripple effects in India

The collapse of the Silicon Valley Bank in the US followed by the shutdown of another New York-based regional-size lender Signature Bank, has led to Indian markets tanking on March 13. So, is it a deja vu of the 2008 banking collapse that pushed the whole world into a slowdown? US regulators have already taken charge of the situation with regards to depositors, although it is unclear at this point of time whether the damage can be fully controlled.