Page 21 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
th
nd
if you express your gratitude sincerely (thereby manage to get most of the necessary papers and
getting help from universe) to the people who unaudited Balance sheet, showing a total sale
have helped you directly or indirectly in small & export of `1500 Crs, with net profit of `75
or big way and express your warm gratitude Crs in the first year with export order in hand
and appreciation to the Almighty everyday of `2100 Crs.
very sincerely (which may be termed as
Since the Bank was a South-India based,
Gratitude Meditation), it is more often than
not, you will get the “Call of Heart” or sixth the Bank was without much of export other
sense, at the right time, at least to avoid serious than prawns & cashew which also branch
didn’t have. The AGM & Mr Das were very
danger, which you will not be able to get
communicated otherwise. That’s my personal aggressively tried and put up the note to Credit
Dept for sanction. Their Credit Dept, in view
experience.
of the excellent performance of the Branch
When got a hunch, keep asking within & in Credit growth & recovery experience,

others : Analyse all replies, all are important: and the unit’s fabulous top & bottom line,
Surprisingly, the most innocuous reply will was also equally aggressive and sanctioned
take you towards the destination, that’s my the proposal and limit very quickly, with
experience many a time which helped me to seemingly very simple conditions – Subject to
steer out of difficult situations in a very heart- 1) Getting opinion report from the consortium
warming manner. One of those hair-raising leader (herein after, Lead Bank) 2) Verification
stories (facts with some minor changes) which report of Export Bills Receivables outstanding
will be certainly interesting for bankers & certified by CA etc. 3) Audited Balance-Sheet,
auditors! Please Enjoy!! or Unaudited actuals of Balance Sheet figures
to be signed by Authorised Director with Board
Mr Santanu Das, popularly known as
resolution for the same etc.
Mr. Das, is a young officer (Manager C&I, in
one of the PSU bank) who has been at Kolkata After advising the sanction to the Co,
Branch for eight years, which is a special Mr Das, approached the lead Bank requesting
privilege, which no one is allowed beyond 5 to help meeting up the compliances. The lead
years in one branch in his Bank. Still he was Bank forwarded the Export Bill outstanding
considered due to his excellent relationship with statement, (without verification/ certification),
the staff, other Bankers & customers, resulting and unaudited Balance sheet, with a good
excellent business, growth and recovery for covering letter , with copy to the DGM, credit
the branch. Recently they have managed to of Mr Das’ Bank, advising that since they have
become a collecting Banker of a Public Issue forwarded everything that was required for
(over-subscribed around 20 times) for a 100% sanction, with necessary comment, there is no
export oriented unit, having excellent potential question of separate opinion report as asked for.
to offer abundance of Forex business, which the Further what they could not put it in writing,
Branch is lacking. Hence the AGM advised him they called the DGM –credit (of Mr Das’ Bank)
to tap this business as well. over phone , and told clearly that if the bank is
not comfortable, they can convey the same, as
Mr Das, being close to the Co Management other PSU Bank is waiting for opportunity.
and leader of consortium (A PSU Bank), could

The Institute Of Cost Accountants Of India

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