Over 450 Indian start-ups, venture capitalists, and investors have met with the Indian government to discuss the impact of the collapse of the Silicon Valley Bank (SVB).

Among the issues raised were the following:

Blockages in international wire transfers
Disruptions due to threshold limits on withdrawals
Lack of communication from US agencies
The need for preferential access to credit

Rajeev Chandrasekhar, the Minister of State for Electronics and Information Technology, assured the group that the ministry would put together a list of suggestions and provide it to the finance minister on their behalf.

The government will consider suggestions such as preferential credit access or new credit products for start-ups.

The stakeholders also called for a government-led evacuation program to retrieve deposits from SVB, which international wires would otherwise block.

The immediate priority for the government is to help affected start-ups, which should consider processing times as a transition period while solutions are found.