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Consumer Commission orders bank to pay compensation to retd army officer for mishandling loan account

By Ramkrishan Upadhyay 16 Jan 2025

ThoughtForTheDay

ALBERT Einstein told the world, “Everything is relative”. A clever tweak to this truism popped up on my phone the other day: “For some people who amass power and wealth for their relatives, ‘relative is everything’.” I chuckled at this satirical jab as I recalled an incident. It happened more than a decade ago at an ATM booth located in a fuel station complex on the outskirts of Muscat, the capital of Oman, where I worked for nearly 13 years. As a white-collar professional, I had maintained a self-imposed minimum balance of Rs 50,000 (in equivalent local currency of Omani riyals) in my account, mainly to cater to emergencies like an unforeseen trip to India. However, during one month, I incurred several unplanned expenses. As I entered the ATM booth and withdrew money, I knew that my bank balance had dropped to Rs 30,000, breaching my safety net by Rs 20,000. This realisation made me uneasy as I stepped out of the booth. Just then, a young Indian expat worker in a blue coverall hesitantly approached me. “Saab, I don’t know how to operate these machines. Can you help me?” he asked, holding out his ATM card. “What do you want to do?” I asked. “I want to deposit money into my account,” he said, holding two one-riyal notes amounting to Rs 350. “This machine is for withdrawal. You’ll need a CDM — a cash deposit machine,” I explained. Watching his confused look, I quickly reassured him, “No problem. I’ll help you.” Guiding him to the nearby CDM, I deposited his money. As I handed back his ATM card, he hesitantly looked at me and said, “Saab, I need one more favour.” “What is it?” I asked, my impatience growing. “I want to withdraw five riyals from my account,” he said, his voice faltering. I was perplexed. “Withdraw five riyals — in other words, just Rs 875? Is he up to some prank on me?” I said to myself. “Then why did you deposit two riyals just now?” I asked him. His answer floored me. “The ATM doesn’t allow withdrawals of less than five riyals, and I only have three in my account. That’s why I deposited two riyals, so I can take out my entire five riyals.” Moved by his financial plight, I immediately took him back to the ATM and withdrew his five riyals for him. Driving back home, I felt a surge of conflicting emotions. Just a few minutes ago, I had felt bad for not being able to maintain a minimum balance of Rs 50,000 in my account. Now, after meeting this worker, I understood how blessed I was. Indeed, Einstein was dead right about relativity.

By . 14 Jan 2025

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The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

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