State Bank Of India – A Court Jester.

The stateliest bank of India , at times is also the best humorist

You must have heard of Mohamed -Bin -Tuglak. He was the clown of all kings.

He shifted his capital from Delhi to Daulatabad and again to  Delhi .He was a visionary but eccentric.Large number of people died during the moves due to  inadequate travel arrangements.His experiment with coins , place him as one of the greatest moneyers of Indian History, though it was not successful in India.

State Bank of India is a trend setter and a breaker of its own norms.

 I wish to Cite  an  evidence to emphasise my proposition.

The prestigious bank , had called for an OTS settlement to a company which had received the decree from the Debt recovery tribunal of India, a satellite of the Finance Ministry.

The company agreed to settle of its dues in the stipulated period of one year. It had in anxiety written a letter that it will fulfill the requirement in 3 months. The latter paid the amount as given in the letter of State bank Of India, rather 3 months ahead of the period as prescribed by the bank and 3 months later as   it  had put forth in its letter.

The bank accepted the payment . When the company asked for its  documents  lying with the bank, the bank assured  to give it back in 40 days. 40 days passed , 90 days vanished , 180 days  disappeared no sign of returning the security. The company wrote letters to G. M., D.G.M., talked with them , and requested an appointment. But these top officials were busy , and did not have time to see the person who had settled the amount.

The Managing Director got frustrated and met the AGM and other officials. and compelled them to come out with facts and figures.

The AGM , slowly let the cat out of the bag, saying that bank needs a considerable amount  more . If the company pays ,the security will be released

The Managing Director ,  was first intrigued by the assault, then resolved to take cudgels against the eccentricities of the Bankers, let them be CGM , GM , DGM, AGM .Chief  Manager and Field officers,. An entire lot of bureaucracy , who pretend to be goody and faithful to the bank, but possess grudge and vile, greed and animosity, arrogance and hatred against this entrepreneur.

M.B. Tuglak shifted his capital (1325-1351)

S..B.I  modifies its transcription (2007-2008)