The global financial system has witnessed two major disruptions in recent history—the 2008 Financial Crisis and the 2023 Banking Collapses. While the 2008 crisis was triggered by subprime mortgage defaults in the U.S., the 2023 collapses (e.g., Silicon Valley Bank, Credit Suisse) were driven by rapid interest rate hikes, liquidity mismanagement, and digital bank runs.
This report compares these two crises, focusing on their impact on India’s banking sector, regulatory responses, and lessons learned. Key differences include the role of digital banking in 2023, while parallels include systemic risk and regulatory gaps.
