Credit Suisse Crisis: The crisis of Silicon Valley Bank is not over yet in the world. In such a situation, a new bank seems to be in trouble. The banking crisis that started in America has now reached Europe. Actually, Europe’s largest bank Credit Suisse is now seen in trouble. The bank got a big blow on Wednesday. Credit Suisse Crisis has now decided to take a loan of $54 billion. In this regard, Credit Suisse said on Thursday that it would seek help from the Swiss National Bank in this difficult time.
The biggest investor gave a blow
The past few days have been difficult for Credit Suisse Bank. On Wednesday, the shares of the bank saw a sharp decline. Let us tell you that so far a huge decline of 30 per cent has been recorded in its shares. At the same time, the bank suffered a major setback when the largest investor of Credit Suisse Bank refused to invest in the bank.
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Credit Suisse Bank will get immediate relief
Credit Suisse Bank now has only hope from the Swiss regulator. In such a situation, the Swiss regulator has announced to give cash under a specified amount to Credit Suisse on behalf of the central bank. In this regard, Credit Suisse has said that it will pledge good quality assets for such increased cash. It has been told that this will be a short term loan.
It will affect India
After America, it will also affect India. So let us tell you that the sinking of this bank will not have any direct impact on India. However, India has an asset value of Rs 20700 crore in this foreign bank. In such a situation, its effect can be seen up to 0.1 percent. Credit Suisse owns only 0.1 per cent of India’s banking system.
European banking index down 7 percent
It may be known that after the sinking of America’s Silicon Valley Bank and Signature Bank, now Europe’s largest Credit Suisse bank is also going towards sinking. At the same time, the effect of falling shares of Credit Suisse Bank was also seen on the banking stocks of Europe. The European Banking Index saw a decline of up to 7 per cent.
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Source: www.dnpindiahindi.in”
