There are so many banks – Indian Bank and Indian Overseas Bank have their head offices in the city of Chennai. On First Line beach (Rajaji salai) nearer Indian Bank HO – is anondescript lane .. .. .. Every one of us know and use these words… ‘Yes and No’ – the English words for expressing the affirmative and the negative respectively in modern English. The words yes and no are not easily classified into any of the eight conventional parts of speech. Although sometimes classified as interjections, they do not qualify as such, and they are not adverbs. ………… these words were printed in the ATM of Yes Bank…
Here is what you would find for Yes in a dictionary. YES :—adv. 1. (used to express affirmation or assent or to mark the addition of something emphasizing and amplifying a previous statement): Do you want that? Yes, I do. 2. (used to express an emphatic contradiction of a previously negative statement or command): Don't do that! Oh, yes I will! 3. (used, usually interrogatively, to express hesitation, uncertainty, curiosity, etc.): “Yes?” he said as he opened the door. That was a marvelous show! Yes? 4. (used to express polite or minimal interest or attention.) —Noun. an affirmative reply. The first service that most people become familiar with in terms of a bank is a savings account.For many the visit to a bank starts with opening of salary account – when my grandfather passed away, my uncle opened SB accounts in Bank of Madura in the names of all grand sons/daughters.The bank functioned at the same premises where Mahakavi Bharathiyar lived.As one keeps money in SB account, the Bank provides a low interest for the value kept and is flexible to be withdrawn. Banks work by paying its customers to lend them money. When a person deposits money into their bank account, the bank can then lend other people that money. The depositing customer gains a small amount of money in return (interest on savings), and the lending customer pays a larger amount of money to the bank in return (interest on loans). To make money for itself, the bank keeps the difference. In USA, it was a joke that bank business simply is 3-6-3 business; borrow money at 3%, lend it at 6%, and be at the golf course by 3 pm. Some banks also charged a monthly fee to customers for maintaining a basic account, but most daily transactions are free. While bank is considered ‘risk-free’ or minimum risk investment – meaning that one would get low returns but there is no risk – well, life is not all that easy – and there is risk that the entire money could vanish ! or one may not be able to access one’s own savings at the time needed. Cannot avoid thinking – what would have been the response of Social media and politicians if the same person who fought a painting for a fortune (but is termed as a business transaction) – would have had a selfie taken with a prominent ruling party leader – then we would have heard the din of him being closely associated with the party in power and hence allowed scot-free !! Bank collapse is perhaps not new ! ~ though very few and far.The street that was referred as closer to Indian Bank HQ in Rajaji salai is Arbuthnot Street – in 1906, the gates of Arbuthnot and Company, First Line Beach, carried the announcement that the company had suspended payment till further notice. It was an ignominous end to an institution that had been one of the most successful in Madras for over a hundred years. Thispost is on the travails of Yes Bank depositors.Yes Bank faces a crisis of non-performing assets, i.e. loans that have either gone bad or where repayments have been delayed for too long. Partly due to this, Yes Bank's capital eroded. For the last several months, the bank has been hunting for cash in the form of fresh investment. The hunt, however, came up empty. Apart from this, Yes Bank also faced governance issues. Yes bank underreported NPAs to Rs 3,277 crore in 2018-19. The report also says that the bank's management misled the RBI by indicating to the central bank that talks with investors on pumping in equity were likely to be successful. With lot of things under the carpet, thousands of depositors, investors were taken by surprise when RBI declared amoratorium onGlobal Trust Bank, a new-generation private bank, on July 24th 2004 under the inept Congress-led UPA regime of Manmohan Singh. Barely 48 hours later, it was announced that the beleaguered bank would be summarily merged with the publicly-owned Oriental Bank of Commerce (OBC). IN its eagerness to seem proactive, the Congress regime paid scant heed to financials. The advances made by OBC in 2003-04 amounted to Rs.19,861 crore, compared to GTB's Rs.3,276 crore; OBC made a net profit of Rs.686 crore, compared to a loss of Rs.272 crore registered by GTB in 2003-04. While OBC had no non-performing assets, GTB's NPAs accounted for almost 20% of its assets.