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WASHINGTON, March 11 (Reuters) - U.S.
President Joe Biden spoke with California Governor Gavin Newsom on Saturday about the Silicon Valley Bank failure and efforts to address the situation, the White House said after the bank's collapse.

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A White House statement said Biden discussed with Newsom an emergency declaration he issued on Friday to ensure California has the full support of the federal government as it responds to the impacts of severe winter weather, including flooding, landslides and mudslides.

California banking regulators shut down Silicon Valley Bank on Friday after the a run on the lender, which had $209 billion in assets at the end of 2022, with depositors pulling out as much as $42 billion on a single day, rendering it insolvent.

MUMBAI, March 12 (Reuters) - India's state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank's collapse, as concerns rise about the fallout for the Indian start-up sector.

Uncertainty is killing them. companies and raised their initial round, SVB is default bank. Last thing founders needed". Growth ones are relatively safer as they diversified. "Especially for Indian founders ...

India has one of the world's biggest start-up markets, with many clocking multi-billion-dollar valuations in recent years and getting the backing of foreign investors who have made bold bets on digital and other tech businesses.

I will meet with Indian Startups this week to understand impact on them and how the government can help during the crisis," Rajeev Chandrasekhar, the state minister for IT said on Twitter. "Start-ups are an important part of the new India economy.

Two partners at an Indian venture capital fund and one lender to Indian start-ups told Reuters that they are running checks with portfolio companies on any SVB exposure and if so, whether it is a significant part of their total bank balance.

India's Nazara Technologies Ltd, a mobile gaming company, said in a stock exchange filing that two of its subsidiaries, Kiddopia Inc and Mediawrkz Inc, hold cash balances totalling $7.75 million or 640 million rupees with SVB.

Consumer internet startups, which have drawn the bulk of funding in India in recent years, are less affected because they either do not have an SVB account or have minimal exposure to it, the three people said.