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Collateral Security

Discussion in 'Interesting Shares' started by jayasala42, Oct 10, 2019.

  1. jayasala42

    jayasala42 Finest Post Winner

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    Soon to be reality in INDIA ?

    An Illiterate Tribal went to a Bank for a Loan of INR 2,00,000/- to buy Buffaloes.
    The Branch Manager asked what Collateral Security will he offer.
    Since the Tribal didn't Understand the Concept, the Branch Manager explained in detail about Collateral Security.
    The tribal kept his house as Collateral and the Loan was sanctioned for INR 2,00,000/- @ 9% interest for 5 Years.
    In 6 months the Tribal repaid the entire Loan. The Branch Manager was very happy and asked him what he was doing with the excess Money in the hope of Getting his FD target fulfilled.
    The Tribal said he kept it in his house locker.
    The Manager then pitched for his FD deposit saying that the Bank will give 7 % interest and that his Money will Grow.
    Now Came the interesting Part
    The Tribal asked him
    "What Collateral Security will Your Bank offer Me to keep my Money in Bank?
    The question needs to be asked now, only with the intention of safeguarding our own Money.
    The best message received recently. Worth Sharing!!!

    When I read the message I was reminded of another incident

    Nothing to do with Bank or House loan.
    Still it could be taken as what you call collateral security.
    A middle aged man walked into the fancy Hair cutting Saloon with a young
    boy, who indeed needed a hair cut, long over due.
    The middle aged man had his hair trimmed, had a fancy shave, had his nails pedicured
    and manicured.
    Then the turn was for the boy.
    When the hair stylist was busy working on the boy, the middle aged man,
    conveyed that he has some urgent job close by and would return in about
    10 minutes. The hairstylist did not even bother to acknowledge the request.
    The boy had a fancy work done too so nicely and it was more than an hour that the
    middle aged man never return to the Saloon. The now anxious Hairstylist asked
    the boy why it took so long for his father to return to take him back.
    The Hair Stylist was to experience the worst shock when the young boy, retorted
    what father, what son?
    That gent with whom he came was a stranger and not his father.
    When he was playing in the nearby park, this gentleman, asked whether the boy
    would like to his hair cut for free and told him to just accompany him and not to open
    his mouth.
    When the twosome arrived the hairstylist assumed that it was a father accompanying
    his son.
    The Con man now it dawned on the Saloon owner was taken for a ride, unwittingly had rendered
    free service and helped the boy too had a free hair cut.
    Of course it was the Saloon Owner's expense.
    Would you not reckon that the con man had a collateral security too in the boy while
    pulling wool over the eyes of the Saloon Owner?

    Thyagarajan likes this.

  2. Thyagarajan

    Thyagarajan IL Hall of Fame

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    Intelligent tribe is on the rise.
    2. Loanstoo might be sanctioned to tribals taking buffaloes as collateral.
    3. Saloon incident is real. It happened in Valasaravakkam.
    Thanks and Regards.

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