Page 93 - A Banker Down the Rabbit Hole

28. The see-saw game :

Organizational and Individual goals

Loan under Self-Employment scheme
Government announced Prime Minister Self Employment Scheme under
which a loan of Rs. 50,000/- was granted to unemployed youth who had
completed their graduation. We got three loan applications sponsored
by the Department of Industries. One was from the son of a clothes
trader of a small town. He claimed that he would operate independently
from his father as there is no other competitor and he would keep
different varieties, thus avoiding all competition with his father. The
inspection was made, documents verified and loan was duly granted.

There were two other applications from the son of a Gram Pradhan
(Village Head) and his nephew. They mentioned that they would run a
construction material shop mainly cement bags and iron rods. They
claimed that they would locate the activity from where many villages
were approachable. I requested them to allow me to visit that shop. They
told me that they had rented out shop No. 2. The size of the shop was
only 8ft.X10ft. and the iron rods measuring 36ft. (18ft. when folded
double length) could not be securely stored in the shop. They replied,
"The iron rods will be kept outside and no one could dare touch our
material." The owner of the steel mill had verbally confirmed that he had
let out the shop free of rent to us due to good relations. They felt no
need for written rent agreement as there was no rent charged.

I insisted that there should be a written agreement even if for a certain
period, even if it is without rent, as I was duty bound to get all these
evidences and papers. I had to get insurance for the security of materials,
and the insurance company would not issue a policy without a certain

90 | A Banker down the Rabbit Hole