THE BHAGEERATHY STORIES

THE BHAGEERATHY STORIES

NPA RECOVERY

It was in 2004 or 2005..

I was at Kanjikuzhy branch.. There was a big NPA in our branch…on verification, I came to know that it was about a crore and that it was a project loan. During those days, Kottayam was just a beginning for flats and this was one of the  first flats that came up. (another was of Pottenkulam group and they managed to repay) Most of the investors were NRIs. About 10 flats were occupied. The others were half built. The negotiations were going on and on and on..The Bank was willing for a compromise…but..

It was then I got an idea..The DGM and AGM were my good friends..so I had confidence of somebody backing up..

I knew the Builders Forum president who had availed an OD in our Changanacherry branch.  I took him to this flat and asked him to prepare a project report for completion of the NPA flat. He came out with a project cost of Rs.50 lakhs for completion. It was decided that two duplets costing Rs.50 lacs will be given to him.  He can sell and meet the costs. So to begin the work, he was allowed to overdraw his account by 50 lakhs at Changanacherry branch. He was given green signal.

The present occupiers were also happy. They also was not having occupancy certificates and they had problems with KSEB, Water and other connections.

The flats were finally constructed and we gave housing loans for 10 people at Rs.20 lakhs per house and all the houses were sold out and the existing house owners also  got all their problems solved.  The Current account overdrawings were cleared and by selling duplexes at Rs.35 per duplex, he made a profit of Rs.20 lakhs.

Thus our NPA was recovered and all were happy also.

In another instance, where I was BM, there was an NPA and the mortgage property was in Govindapuram.

The FOs present and past – all had only one thing to say – Madam, the land will not go for sale..there was a new bus stand.. The Bank decided to go in for a compromise by getting Rs.28 lakhs  against an outstanding of Rs.48 lakhs.

Igot permission from AGM to visit the place.

I did homework..I called the Tahsildar and he had agreed cooperation.

I asked Unni, the car driver and viswasthan..I started by 3 AM, went straight to Guruvayur..Luckily, I could go in straight and quickly had darshan..

We reached Govindapuram and was thunderstruck to see that it was such a beautiful plot and easily approachable by road and the reports I heard was wrong. I gave Rs.500/= to the peon for expenses and  myself, tahsildar and the peon went and identified the plot which was full of bushes due to neglect.  The plot was used by the lorry drivers as a wasteground. The tamilnadu border was just yards away.

I gave Rs.1000/= to the peon to arrange for clearance of the plot. I gave Unni about a dozen of my visiting card and asked him to give to all shops nearby and tell them that SBT has taken possession of this property and will be brought for sale and interested parties may contact the branch manager..

None will believe if I say, I had got a lot of calls on my phone while on travel back.  On reaching the branch the next day there was a call from one Mr Ibrahim..He threatened to sue me because he had already advanced for this plot.  I told him that SBT has mortgage of this property and we had the right and you have been cheated..I can give the property documents if the full money is paid..

This Ibrahim and the borrower came to see me..Imagine Bank had agreed for compromise of Rs.28 lakhs. But I said I will realease the documents only if I get full amount as there are offers for much higher amount.

He paid Rs.48, 20,400/= including my taxi and hotel bills and interest uptodate.

I got accolades..

GOOD SAMARITAN

 Years Back..when I was in Kottayam Treasury Branch..

Zonal Office calls..”DGM wants to meet you madam..”

Usually DGM calls only for firing..and so getting prepared with branch figures..I went to ZO….DGM called me in..”Sit down..What did you do yesterday?”  I don’t remember having done anything wrong yesterday..”You have brought accolades to SBT..a wonderful job..Tell me full story..” I thanked God..

The day before..

Telephone rings..”Madam this is District Collector..I want immediately 8 lakh rupees from collector’s account..Its so urgent and a public cause..My heart stopped for a moment..Whether to tell yes or no..The Collector’s account is with us and we had been good friends..but if I agree..today bank is not functioning..How can I open the Chest…Somebody from above told me to say YES..

Then I called Head Cashier..and we both went to our Petrol Bunk account holders and some other Current account people..Took the cash  gave a receipt..and there was the 8 lakhs..  They gave the cheque and collected the cash..

There was an accident in Erumely..A bus with pilgrims fell into the river..and the money required was for arranging ambulance and connected purposes..

The District Collector was so happy and especially after getting NO from some other banks..He went to the Press and praised me and the Bank…

I didn’t see the newspapers ..but our DGM showed me the papers..