Confeessions

That was the first day of my assuming charge. Had spent the last three days meeting the
customers, being introduced by the outgoing manager.
I remember the words of Zonal Head while posting me to this branch:
" it is one of the best branches of the circle. The present manager has done wonders with 200%
deposit growth and 150% credit growth. Profits are soaring. The branch is getting eligibility for a
car this year."
" where is he going?"
" To the capital.. he deserves a car branch"
There was a buzz in the phone...
" ok.. send them in"
" Association people are around. They wanted to see me for ten minutes. Please wait in the
lobby. I will call you once the meeting is over. "
The regional secretary and one more RC member were entering the room.
I know them..
" hello"
" understand you are under orders of transfer... Have you received it?"
" Not yet.. awaiting the order.. "
I smiled and left the room..
After ten minutes they came out and saw me sitting in the lobby..
Why the secretary is looking differently at me?
Anything wrong?
" how do you know the zonal head?"
" he was my first manager and we worked together for three years"
" Oh.. we understand... but never knew that you know him.. you are in this circle for more than
three years and now due for a transfer.. Are you not going to your home state?"
" yes has given the application... but not very serious.."
" OK .. all the best. I will check up whether SSO has referred your name.."
They left.
But the strange look in their eyes...?
'Am i imagining?'
' does he not know whose names are referred? why he asked the question'
My chain of thoughts were interrupted by the secy..
" sir, he is calling you.."
The first thing i noticed was the expression on the face of zonal head..
To be continued
He seemed to be annyed and just waved at the chair in his front. I sat and was silent.
The Manager SSO knocked and entered the cabin.
He waved at another chair.
Have you sent his orders already?
No, you signed it only yesterday and i have not sent to despatch
Good keep it on hold for sometime. Association people were here about the posting of manager
to that branch
They were telling me that I am overlooking the seniors in the circle. Now that the branch has to
be provided with a car, everyone seems to be eyeing that posting.
The SSO Manager was silent.
They forget that I was also the leader of association at one time. Now they are accusing me of
favouritism.
What they expect? Posting by seniority, Just because he was senior in that grade for the past
twelve years, does it make sense to post him there. Why cant they understand that being their
for the past twelve years only indicates his involvement and performance . In fact he was my
batchmate. If i believe in favouritism, I should be posting him there..
These young leaders even do not understand, that by virtue of our fight in those days, the
promotion in our bank was always automatic, once you achieve your target consequently for
three years. Because of that policy only we have more number of senior managers in our bank
when compared to other banks.
it was also an unwritten policy in our days, that association will fight for a common cause and
not for individual cases. Where are we going?
And this happens only in this circle and not anywhere in our bank..
He took the intercom and told the operator to connect to the General Secy of the Association.
The SSO man was about to say something and the phone rang.
To be continued
how are you? Are you free? Five minutes and nothing more
After that conversation started in the official language of the bank.
Me and the SSO man were looking at each other.
He can understand the language. Will ask him when we go out.. these were my thoughts..
With a loud laughter the phone was back in the cradle.
do you know driving?
No sir,
Learn driving fast... the bank only provides the car... and not a driver or his salary. Any way it
will take another three months for the vehicle to be in place.. learn driving in Ambassador or in
Permier Padmini.. the bank does not provide any fancy vehicle..
He laughed once again thunderously at his own joke.
such a lovable person he is. He has not changed a bit since his managerial days. Position has
not gone to his head
My thoughts were interrupted when he said
do not discuss your posting with any one. It will not be released for some more time atleast a
week or fortnight. But you are the person..
The SSO man smiled and shook my hands.
My thoughts about how i got posted here on the first day of assuming charge was broken by the
presence of accountant who entered my cabin.
He was holding one set of keys to the vault and probably wants the other set of keys.
the Documents of Victory is sought by the inspectors.
I called the other person sitting beside the cabin and handed over the key.
He returned with the documents and was looking at me quizzically.
you could have handed over the key to me, Sir, I was to open only the almirah where the
documents are kept.
Dear, Double lock is a double lock. Neither i will hold both the keys or i would like anyone to
hold both the keys at one point of time. There should be two persons who should be operating
the vault at any point of time.
Anyway, I will be shortly handing over my keys to others after getting permission from RO. But
I do not want anyone to hold both the keys at any point of time.
Ok sir
The outgoing manager came in and he was about to go to the station.
It is difficult to succeed a successful man. You were successful and will disturb you in case of
any problems
that is not a problem. Will always be available to you. Let us go.
When i returned to the branch, i observed that there was shouting going on in front of the cash
counter. The armed guard was shooing one person away and the cashier was on a high pitch.
There goes my first day.
To be continued.
I was entering the branch next day morning. There was one person in rustic clothing waiting for
me. The accountant told me that the was waiting for almost an hour and says that he will speak
only to the manager and not to anyone else.
Sir, this is the shouting you were hearing yesterday evening. Yesterday he was shouting that
we are all cheats. He had remitted 50,000 whereas we have provided him a receipt for
25000.00.
ok. Send him in.
The man was very polite.
Sir, my daughter came to remit the money. I have told her to take the money from the almirah
along with the slip already written.
she had handed over five bundles ( we call them as sections) of 100 Rs. Note and the cashier
says it was only five bundles of 50 Rs. Note
She is small girl and she says that she had given five bundles of 100 Rs. Note.
The cashier was watching me standing outside. I called him in.
what is the matter? Was there any cash excess yesterday?
No, sir. He is lying. She handed over only five sections of 50 Rs. Note. See the slip, it is clearly
written as 50 Rs. 500
The slip was showing only 50 X 500.
This is a bank where such mistakes do not happen. Even if it happens, we will come to know at
the end of the day. There was no excess reported. Please go and check up with your daughter
what she had remitted
Sir, I had kept the money in the almirah five bundles of 100 and five bundles of 50. The slip
was already filled up for 50,000. She instead of taking the 50 Rs. Bundle has taken 100 Rs.
Bundle and remitted here.
sir, I am telling the truth
Try to understand. If there is excess, we will come to know. There was nothing excess today
and your slip clearly says that it was only 50 rs sections remitted.
sorry, please check up at your house
The old man was in tears and i was helpess. He went back.
Around eight o clock in the night, the door bell to my residence rang. Residence was upstairs to
the branch, as was the policy of the bank.
My wife told me that there are visitors and they are sitting in the living room.
Adjusting my lungi, i went to the living room.
The same old man with his daughter around 12 years old were waiting.
( to be continued)
The old man started crying and so also the daughter.
Sir, On God, I say that she had given only 100 Rs. Bundles.
Yesterday, I had been to the cashiers house. His wife did not even allow me to speak.
Please do something Sir, You are the manager. You can ask the cashier to return the money. I
am sure that he has taken the money, sir.
I was silent.
See, had you indicted in the slip, the actual denomination handed over, I could have helped
you. There is no excess reported and the deposit slip indicates that you had remitted only 50 Rs.
Bundle. I can not help you, even if you are speaking the truth.
He started shaking and was crying loud.
My wife came to the room and started looking at me as if I have done something to him.
do not worry. You go inside.
I spoke to the old man.
Let me see what can be done.. meet me later in the evening.
My wife was looking at me when we were having dinner. Normally I do not bring in the customers
or business matters to the house. This was her first experience.
My instincts told me that the old man was telling truth. But, how to prove?
*
Next day dawned with the same question. How to prove?
I called the cashier.
Tell me what happened. If you had taken the money, please return to him today itself even
without telling me. I will not report the matter.
He was silent and returned to his seat.
Twenty minutes passed and the Branch secretary, cashier and another staff entered my cabin
aggressively.
How dare you accuse our member of theft? I will be asking the staff not to work if you do not
apologise.
The accountant came to my rescue.
He did not accuse him of theft. He said if he had taken the money, .. if the cashier has not taken
the money then what is the problem?
No.. he should apologise.
I can understand.. being a new manager, the branch secretary wants to show his power.
See, it is not me who is calling the cashier thief. You are caling him so. It is my duty to enquire
and I wil not apologise.
Shoutings and arguments...
After ten minutes everyone returned to their seat. I can see the branch secretary calling his
people from the nearby branch..
After closing, I told the accountant to keep the double lock register in my table, so also the
receipts and payment waste and all the vouchers.
After dinner I came down to the branch.
it is a good practice. The denominations are there in all the credit slips and cheques
he is a good worker. And goes by the manuals.
he might not have taken the cash
Simultaneously i was working on listing the denominations taken out from double lock and writing
the denominations of receipt on one one side and denominations of payments on the other side.
It is almost two AM. My wife came down.
it is two am. Are you not going to sleep?
Almost over.. another ten minutes.
She sat down opposite to me...
I am on Dharna... will not leave unless you come.
I smiled at her and started the work once again...
Ten minutes passed..
Suddenly, I jumped and embraced her.
( the foregoing lines are to add the romantic element in the story..)
And Shouted
Eureka
( to be continued)
Next day, I called the cashier and the branch secy to my cabin.
i have proof with me that the girl has deposited five sections of 100. Are you prepared to
confess?
A minute of silence.
No sir, you are accusing me wrongly.
I am giving you time till evening. If by then the old man comes and tells me that all is settled ,
then this letter of complaint given by him will be destroyed in his presence. It is now left to you.
Both of them were taken aback, when I showed them the complaint letter. They never expected
me to obtain a complaint letter, particularly when the deposit slip showed only 50Rs.
Denominations and there was no excess.
They went out and I could see frantic calls by the branch secy and a confident cashier.
It was nearing five. I called the branch secretary alone.
I have definite proof. If he confesses it is good for him.
I understand sir, but he says that he has done anything wrong.
He was inquisitive.
Sir, what is the proof?
will tell you tomorrow,If he confesses and returns the money. Otherwise circle office will take
care.
Nextday, the SSW manager was at the branch along with DO officials at the stroke of nine. I took
them to my quarters and showed the waste which I have drawn. It contained the details of
denominations taken out from the double lock and the denominations of receipts and
denomination of payments, and amount that should have been deposited in double lock
denominationwise. Beneath it, I had written the amount actually kept in double lock
denominationwise . ( single lock denominations were also entered at the time of opening and
closing).
THERE WAS DIFFERENCE BETWEEN 100RS DENOMINATIONS AND 50 RS
DENOMINATIONS, EXACTLY TO THE TUNE 25000.00 BETWEEN WHAT SHOULD HAVE
BEEN KEPT IN AND WHAT WAS KEPT IN.
We came down and branch was tense. They sat in my cabin and took the complaint letter. They
called the cashier. ( The branch secretary and himself were standing outside).
To the question of SSW man, they produced a letter, signed by the cashier and refused to
discuss anything.
They have done the homework well i thought.
SSW manager and the DO officials left the place around twelve.
Branch secy came to my cabin around three.
you are new to the branch and your earlier manager was good to us. You think that you can
manage the branch without our cooperation. We know about you.
do not threaten me. Even your union will not say that i have done anything wrong. I am
convinced that he has taken the money and i can prove it.
what is the proof?
C.O. is aware of it and they have taken the proof with them and i do not have a copy.
He was silent and left the cabin.
He knocked my residence door around eight PM. He was disturbed.
Sir, you are right. I have brought him along with me. But he will not give anything in writing. He
will settle the matter with the old man. Please save him
The cashier entered my house and was in tears and fell at my feet.
sir, please save me. I have done the mistake.
Confessions .. confessions.. confessions..
I never knew at that time, that I will be hearing one more confession, which will destroy my life.
Confessions 7
The next three or four episodes is the seed for this effort. I have made an introduction in the past
six days. It is the story of a successful man who was destroyed for no fault of his. No doubt my
experiences in our bank, are the inspirations., it is the story of loss to a successful person. All for
no fault of the man in the centre of the story. As a part of the story telling ability, I have avoided
all names of the characters, but made an effort to distinguish all the characters. Some of the
incidents do not have further follow up; narrations and are left to the imagination of the readers
to fill up the gap. Example : what was the discussion with SSO manager and the central
character and the Zonal head with the association general secy. They were purposely omitted to
cut the story short. Enjoy reading and your comments are welcome.
The call was from the zonal head.
hello, how are you? You have made a name for your branch, but for the wrong reasons. I know
your strengths and ability to improve business. Do not fail my judgement. In the past six months,
i do not see much improvement but see a large gap. Buckle up and start performing
yes sir.
what else I could say? It is true that despite lot of opposition, he selected me to head this
branch, but that does not mean that I am a man of miracles.
my earlier manager has done everything . got connected to every business house around,
where is the new opportunity?
whenever I go out, I hear about my predecessor only, all in praise. Where is the opportunity for
me?
I went out of the cabin and decided to take a stroll outside the branch, to ease my anxiety.
Went to the cabin of the another largest south Indian Bank. Whose manager was also from my
state.
why you are looking so concerned.
is it so. Possibly due the recent telecom i had with my job.
is that the reason. Grow up. It is their duty to pull the managers up. You should hear them
through right ear and leave them through the left year.
what they can do? They can only transfer you and can not demote you. If you are not afraid of
the transfers, you are a free man
I have not achieved my target for the past two years. Everytime the regional and zonal head
when they come here or in the meetings point out the lack of growth. I tell them that the city is
saturated. They should appreciate my maintaining the business position.
They will ask me sit down and will not ask me any further questions.
I have not committed any fraud and my books are balanced. I submit my returns in time. What
else they expect. We are not slaves you see.
forget it.. let us to go to the club.
let me go to the branch and get it closed. I will join you in the club around six thirty.
To be contd.
When I went to the club, around seven PM, i could see the other Bank Manager was sitting with
some one already. He waved me to join him. The other person appeared to be a business man,
probably his client.
To me He is into import of pulses and one of our major customers. He enjoys good credit limits
with us but mostly non funded. Being an importer he requires only LC limits. He is also good
friend of mine.
To the business man : Sorry, I have broken my promise, of not discussing business when we
are in the club. But when I am introducing you to my friend here, manager of the other bank, I
have to necessarily discuss about business.
it is alright.
Our discussions then got into the election results.
it is a vote against non performance. I pray that the present elected government realises this.
If they do not perform and go on the same lines of dividing the nation, then they will also be
booted out. The present generation does not give any hoots to the history, or who gave us
independence, or who gave the RTI, or who passed Jan Lokpal, or who built such infrastructure.
They are concerned with what you are doing today.
MY other bank friend is a staunch supporter of the new government.
NO, NO, the present vote is against corruption and nepotism. Did you not see the PMs directive
that nepotism is not be encouraged and let us provide a clean government.
I was a mute spectator to their discussion and not airing my views, as my thoughts were behind
the discussion with Zonal Head in the morning, who wanted quick results.
I gave my card to the business man and told him to call on me any time.
Friend, do not mistake me. I am not snatching your customer. This was only to introduce
myself, i gave my card. I will not do anything behind your back.
I left the club leaving them alone..
The next day morning, I had a surprise visitor- The business man.
After initial small talk, he opened up.
Your friend, has helped me a lot. When I found that the market was good, I used to import a lot.
All on usance terms. You know we businessman do not invest our money much. We get credit
from the market and sell it in the market for cash and meet our commitments. To us money is not
important, but the timely credit is important
I was listening.
There is a good opportunity from Malaysia. I enjoy limits with your friend and they are fully
utilised. Whenever I require additional limits, I used to provide him with 100% cash margin in
Fixed deposits. Some times, he takes up the matter with his regional office and gets the limit
enhanced temporarily.
Normally we do not discuss business in our club meetings. But yesterday was an exception. I
have a good opportunity now and wanted some additional limits. I can provide him 100% cash
margin for the additional limits. But then having met you yesterday, I thought of approaching
you. For the business man liquidity is important and if you can sanction with lower margin, that
should be ok with me.
Follow your own rules and procedures, by calling for opinion from other banks also. I enjoy
facilities not only with your friend, but also with other three banks. What is your power for non
funded limits.
My power is not important. If I am satisfied with your financials and agree to our terms and
conditions, and the opinion from other banks are alright, there should not be any delay. If it
within my powers it is the third day on your submitting the papers otherwise it is a maximum of
seven working days. Hence submit your papers.
Still will it not be better if I know your powers. I will reduce my requirements accordingly.
Sorry, this is what bank taught me so far. Provide the credit to the assessed requirement and
not based on the powers of sanctioning authority. Do not bother, even if it is within the powers of
Baord, I will get the limit sanctioned in a fortnight, subject to my satisfaction. I will fight out your
case if I am satisfied.
Returned to the residence and told my wife later:
God is always there. When in difficulty, he always opens another door.
( To be continued)
Confessions 9
My utterances to my wife proved to be right. God did open the door for me. Before sending the
proposal I spoke to zonal head, indicating about the possibilities of huge non funded limits and
good commission income besides the deposits as margin. The gamble paid off and the limits
were released in record time.
Now it is almost an year. The account proved to be one of the best accounts, as the LCs were
promptly paid despite huge amount. I called on him one day.
i find that you are providing me other banks cheques to meet the LC dues. Will it not be better if
you keep the funds with me.
Yes, I see your point of view. Did you see which bank i Cheque I always give?
Yes... the bank
Do you know the quantum of limits, of course all are LC limit, with them? It is ten times the limit
you have granted. Is it not fair on my part to bank with them more?
in case I am able to raise the limit, will you bank with me?
exclusively? NO.. But I assure you to route major transactions through you.
You may understand some of my clients are in that state where you do not have many
branches.
The meeting ended and I was at the circle office next day without any appointment.
I understand. But we have sanctioned the limit only one year back and enhancing three times
may prove to be difficult
Sir, look at the current account balance. That will also increase sizably.
All the LCs have been met in time and my profits have been doubled already.
Finally he agreed, after talking to Head office, as the proposed limits falls within the powers of the
board from credit committee who sanctioned it earlier.
I heard the good news.
I will be getting the sanction in a couple of days. Do not forget your commitment. Keep balances
in current account.
During that year I got the best branch award of the circle.
Are you aware, your batch is included in the eligibility for promotion to senior management
cadre. Congratulations, you are getting it.
i am junior most in my batch. How can i get it? Anyway thanks for your best wishes
Do not look at your batch position. Only seven people are going from our circle. Hence you are
a sure shot. This branch also is big enough to accommodate your promotion.
People made me to dream and i started my daily visit to circle office meeting all the executives.
Results came..
( to be continued)
Congratulations were pouring in and I was in cloud nine. Amidst the congratulations, the
representative of the importing customer was also there. He was waiting with a sweet packet.
Sir, You deserve the congratulations and have done a wonderful work. With your help we are
also doing exceedingly.
The import desk officer came inside the cabin, on seeing the representative.
you have not submitted bill of entry for the imports and have been promising the same.
I looked at the officer as if is it the time to talk about this?
The officer understood my mood and went back.
get the bill of entries submitted at the earliest. We have to submit to RBI. Now that this is a big
branch, I expect inspection by RBI officials and I do not want any adverse remarks.
Yes sir,
He did not make any attempt to leave and appeared that he was to say something.
Sir, we have an opportunity of buyers credit. Only thing is required from your end is a letter
confirming that you are agreeable to the buyers credit and will pay on the date of extended
credit
I am aware of the system of buyers credit. Many of the foreign banks were extending this type of
facility and earning commission on that. But it is new to our bank. I have to talk to the circle head
about that.
give me the request letter and i will let you know in couple of days. I have to talk to the circle
head about that.
May not be necessary sir, it is only a sublimit under the LC limits. Until this buyers credit is
paid , you will not be opening any further LCs. The margin for the LC also will not be touched and
that will be the margin for buyers credit.
Honesly, it will not be beneficial to us as you will be charging commission higher than that of an
LC. But the higher commission is compensated by reduction in interest on buyers credit, as they
are financed by bankers outside India.
The words of my circle head came to my mind. Remember, despite your experience in Banking,
you should not forget that the customers know banking more than you.
I told the representative
Still you give the letter and i will let you in couple of days.
I called the import officer.
what is your opinion on buyers credit?
Many foreign banks do that in a big way. I am not clear about that excepting to the fact that we
can not treat that LC is paid until the buyers credit is cleared. In one way, it is an extension of the
LC commitments.
Thanks. Is it necessary that we have a sublimit under LC?
Not sure sir,
I was with the circle head on the next day.
i think that a sub limit is necessary. Board being the sanctioning authority, we should get their
approval
Yes sir, I will be sending a request. Meanwhile for this single transaction, i request an approval
from you sir. After all it is within the LC limits and there is no additional sanction by you, sir
OK.
This simple strategy resulted in booming business and income for the bank. The Board also
approved the submit. The importer was very happy and he was in all praise of the branch and the
circe head , when the chairman visited our city.
The business of the branch was increasing day by day and my names is flashed in the yellow
circulars of the circle and Blue circulars of the development wing.
During Lunch joint manager was telling me
The manager of the biggest branch is likely to be promoted and going to the circle as
head.There is a talk that you will be going to the branch. Is it true?
These gossips only make you start thinking.
Should i Speak to the circle head for that position?. Any way my promotion is due in this year
and hence there should not be any problem for him.
I was at the circle office to meet him.
There I had the news:
He has been promoted and going to Head office.
The new circle head has joined and today is the day of review.
The new circle head is known for stricter to rules. He does not exercise anything beyond his
powers. Goes by the records and documents strictly. He does not speak much but ensures that
he disposes of all files on the same day. Does not carry anything to home and does not like
anyone calling on him at his house.
My officers were telling me about the new man.
How I am going to explain all these devolved LCs and devolved buyers credit obligations?
will he understand my zeal behind the business?
will he understand my clean record?
will he stand by me?
All these questions were in mind. It is almost two months since the earlier circle head has left and
I was tipped to head a larger branch. Then all these started.
It is almost the same two months, when my import officer reported.
Sir, the LC is due today and there is no balance in the account
Did you call him?
Yes sir, This had happened in earlier occasions also. But when i call him he used to come
immediately with the cheque of the other bank. We discount the local cheque and retire the LC.
But not this time... he told me that he is coming. Later i find that his mobile is switched off.
Thus it started and every LC due has resulted in devolvement.
I did not report , initially, hoping that the amount will be realised and then I will report.
But now..?
I had to report one month earlier and as it was a credit wing account, inspectors had come for
surprise visit.
Sir, can you show the copies of bill of entry for the imports?
The import officer was looking at me, as if I told you so.
You only brought this account it appears. From the balance sheet we observe that he had
accounts with almost all the banks in the city. Did you call for OPL from other banks. In the file
we see only one OPL from the ... Bank..
can you fix an appointment with the manager of other banks?
Appointments fixed and the inspectors returned.
Sir, it is the same position with other banks also. All their LCs were devolving one by one. We
have brought the statement of accounts from other banks.
Unlike us, he has discounting limits with other banks for export purposes. We could see a
pattern. He used to discount the bills with other banks, when our Lcs were due. Are you aware of
the export business. Of course it was not in the same name. Have you seen the name of .
exports Limited in his office because the address given by the exporting company and the
importing company is same. Only the name is different?
Have you visited his godown? Can we see godown checking register?
All questions remained as questions only.. without any answer.
I had desperately trying the importer in his office as well as residence. Both office and residence
were locked and I could see only the officials from other banks. It appears that the banking
system has been taken a ride by this man.
Telephone rang.
It was the PA to the circle head.
Sir, ZM is busy today with some meeting from CBI officials. The review meeting is postponed.
We shall advise you the date later.
What? CBI? Has it got any connection with our branch?
I do not know, sir. But I can tell you that there was a phone call from GM credit wing yesterday
just before six PM. But I can not tell you whether the present meeting with CBI has any
connection with you.
But do not worry Sir, everyone of us knows about your integrity. In fact i heard the present circle
head saying to the officers association leader that there is nothing that affects your integrity.
I kept the phone in the cradle.
Phone rang. It was from the new circle head.
Can you come over to the office. The importer has telephoned me and sought an appointment
in one hour.
When I walked into the cabin of the circle head, he was in deep thoughts,
He waved at a chair opposite to him.
could you get the details of the properties of the gurantors and directors. Have you visited the
security offered and assessed its market value?
The PA then entered the cabin and told that the importer has come.
Ask him to wait for five minutes.
what do you think he will be discussing
Sir, I hope that he has come to plead to convert the devolved LCs into a term load and repay
over a period of time. He was a gentleman whenever i met him earlier.
OK Let us see.
He called the PA and told him to send the importer in,
He came in with folded hands.
We were silent.
Sir, I have a confession to make.
Sir, all the documents that came in LCs are forged.
World collapsed at my feet.