, 11 tweets, 3 min read
#Banking is a business of #trust. With trust gone, the biggest bank will collapse in no time.

This is a true story that happened about 30 years ago. In a village near Faridabad, Govt had acquired some land & paid the farmers in cash. One of them got 10 lacs, which was
big money at that time. As keeping the money at home was risky, this guy (let's call him "A") came to the town & deposited the entire amount into an FD in a bank.

About a week later, someone ("B") in the village told this A that he (B) had been to the same bank & saw
the Bank Manager giving out big loans to many people and if they didn't return the loan, the manager may not be able to return his (A's) money also.

The worried A immediately rushed to bank. By the time he reached, it was late evening & bank was closed. He parked himself
on the footpath outside the bank.

As soon as the bank opened & the manager arrived next morning, he barged in and demanded to know if the amount that he had deposited had actually been loaned by the bank to others. The perplexed manager tried his best to explain how taking
deposits and giving loans is bank's normal business & for the bank to run property, all amounts rec'd in deposit have to be given on loans.

This further convinced the guy that his money is at great risk. So he said he doesn't want to keep his money there any longer and

demanded its immediate return. The manager tried everything to put his fears to rest but he was just not willing to listen. So the manager got the FD broken and handed over the pay order to the guy.

This further infuriated the guy. He said, I knew it, you have given out
all my money to others & since you've no money left, you're giving this piece of paper to me. I had given you 10 lacs in cash & you have to return me in cash only.

Thirty years ago, 10 lacs was a big amount & bank branches didn't usually keep so much cash. So the manager
told him if wants cash, he'll have to come after 2 days.

This was the last straw on the camel's back. The person started shouting, created a huge scene, & just wouldn't leave without the cash.

The manager then contacted other banks in the town to arrange cash.
He sent out his staff to 4/5 banks, to get the cash required. The guy kept sitting before him & talking all sorts of things all this while.

By late evening, they could finally manage to collect cash. The manager then placed the entire 10 lacs cash before him & asked him
to take the cash and leave. On seeing cash, his tempers came down. He asked for a glass of water, counted the cash & said

"I can trust you now. So pls keep this money with you only".

A bank's ability to repay depositors on demand is the key to retain people's trust.

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