The reason behind the impact is interestingly the name of the 116-year-old bank- Shamrao Vithal Co-operative Bank (SVC Bank).

The bank faced continuous inquiries from customers.

Like one Twitter user  asked the bank on Twitter: "Heard rumours about bank default, please confirm."

The bank was quick in responding, "You have got the twitter handle wrong. We are SVC Bank, erstwhile Shamrao Vithal Cooperative Bank, one of the leading & strongest cooperative banks in India with a legacy of 116 years. We have no relation to Silicon Valley Bank. To know more, visit http://svcbank.com."

Facing similar inquiries, the bank issued a statement which read: " We request our members, customers and other stakeholders not to pay attention to baseless rumors and mischief-mongering by unscrupulous elements insinuating similarities in brand names.”