Page 293 - A Banker Down the Rabbit Hole

Citi bank was the first to alert us, was the only bank to meet us promptly
for knowing the reasons for non payment and taking our assurance for
reimbursement to them for the bills discounted by them. They were the
first to get payments of their bills from our customers.

We found one more and different meaning of their tag line "Citi never
sleeps".

Insights from the episode
1. The banks who have strong monitoring systems, sense the trouble
with the borrowers early. Those are the banks taking recovery steps
early and recovering maximum amount if the account becomes NPA.
2. The same is true about corporates who have more active monitoring
of their receivable accounts.
3. "It is not the strongest of the species that survive, nor the most
intelligent, but the one most responsive to change." -- Charles
Darwin

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