Reemmbbba kastam
Thursday, July 26th, 2007Two telephone conversations in recent times made me write this.
Case 1 Profile:
A SWE friend of mine working for a top 5 IT company in India. 30 years of age. Masters degree holder. He is into Software Quality Assurance and works for projects in the financial domain.
He: ’Machi nalaiku vera bank ku poganum da’
Me: ‘Edhuku da?’
He: ‘Oru DD irukku…’
Me: (Knowing his is a big organization and there definitely should br a drop box, ATMs in his office premises.)
‘Seri. Adhai drop box or ATM la podu?’
He: ‘Illada cheque na podalaam. Idhu HDFC Bank Anna Salai branch DD.. Idhai epdi podaradhu?? DD na namma andha bank branch la poi DD a kaatina dhaaney panam kidaikum??’
Since it was named demand draft, he has assumed that he will get the money only if he personally goes to the particular bank which has issued the draft and ‘demand’ for the money.
Case 2 Profile:
25 year old guy working for a top BPO company in Chennai. Upper middle class guy.
He: ‘Credit Card vishayathule naan rombo careful la iruppen. Minimum payment evlo potrukaano adhuku mela ye pay panniduven.’
Me: (Knowing a guy of his financial background should not have any credit card balance lingering for months)
‘Nee edhuku pending vekkarey…fulla pay pannida vendiyadhu dhaaney?? Yen balance ku interest pay pannare??’
He: ‘Yedhuku?? .. adhaan minimum payment panren la aprom edhuku interest kattanum??’
He was honestly not aware of the 3% p.m interest component on outstanding amounts due in the credit card. He had all along been thinking that having a credit card balance is a prestige thing and one should always have it, even if he has money in his bank account to pay off!
This is not to suggest that i know everything in finance or banking. But looks like we are having lots of educated guys like this in India.
Should we not teach these at school level? I think what happens if Sulpuric Acid is mixed with NaCl is less important than knowing Cheques, Credit Cards and DDs.
I hope no one asks me ‘Cheque bounce agudhu nu solrangale, tharai la potta evlo thooram bounce aagum??’ one day.
