The USD 30-billion infusion will give the struggling San Francisco lender much-needed cash to meet customer withdrawals and buttress confidence in the US banking system during a tumultuous moment for lenders, CNN Business said.
"And the reforms that have been put in place mean that we're not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs," she added.
Sitharaman co-chaired debt roundtable jointly with IMF MD Kristalina Georgieva and World Bank chief David Malpass. The G20 delegations also had a meeting with tech innovators at IISc.
Yellen, who arrived in India for the G20 Finance Ministers meeting, held a meeting with the Chief of various IT companies like Infosys Technologies Limited Nandan Nilekani, Wipro's head Rishad Premji and others in Bengaluru.
The treasury secretary said, "We are doing this by strengthening integration with our many trusted trading partners -- including India. We are seeing progress; as an example; technology companies like Apple and Google have expanded their phone production in India."
United States Treasury Secretary Janet Yellen was speaking at the roundtable with US and Indian Tech Business Leaders in Bengaluru on the sidelines of the first Finance Ministers and Central Bank Governors meeting under the India's G20 Presidency.
Before her meeting with Jeremy Hunt, she had met US Treasury Secretary Janet Yellen, Argentina Minister of Economy Sergio Tomas Massa, Japan Finance Minister, Japanese Finance Minister Shunichi Suzuki and Indonesia Finance Minister Sri Mulyani Indrawati.
During the press conference after her speech at the 2023 G20 Finance Ministers and Central Bank Governors Ministerial in Bengaluru, the secretary said, "It is one of the most significant factors that is reducing growth and causing very negative spillovers in low-income countries. We would
Union finance minister Nirmala Sitharaman met US Treasury Secretary Janet Yellen ahead of the first G20 Finance Minister and Central Bank Governors meeting to be held in Bengaluru -- starting Friday.
Yellen, who is visiting India for the first time as US Treasury Secretary, at the Microsoft India Development Centre, said that the pandemic and Russia-Ukraine war are reasons to further deepen the economic ties between both nations.