Yes / The March 2023 bank failures of SVB, Signature and Credit Suisse, which caused turmoil in financial markets and led to regulatory and central bank intervention, revived the debate about the effectiveness of the bank crisis management, resolution and deposit insurance legal framework established after the Great Financial Crisis (GFC). Although the March 2023 events did not escalate into a full-blown financial crisis, they drew attention to certain areas of the current framework where improvements may be needed. These areas include the need of financial regulation and supervision to focus more on small and medium size banks as potential sources of systemic market events; to review the adequacy of the current deposit insurance regime and the treatment of uninsured deposits; and to provide more clarity about the order of creditor claims in case of bank resolution/insolvency. The article reviews the events of March 2023, the key lessons from these events and discusses how these lessons could shape the frameworks for Bank crisis management and resolution in India and the European Union. The two jurisdictions are in the process of updating their laws in this area and the March 2023 events could influence the relevant decisions.