Monday, June 20, 2005

THE GREAT BANK ROBBERY!

"I won't break, I won't bend
Someday soon we'll sail away
To innocence...
And the simple life again."

Elton John's (my favorite singer, the greatest singer alive or dead in my jaundiced opinion) lyrics remind me. My life is getting ever more complicated.

My bank sent me a statement informing me that they are withdrawing the zero balance facility that came with my salary account. This means I will have to pay the bank the following.

1. Rs 750 per quarter if I don’t maintain minimum balance (which I never do!)
2. A charge for withdrawing my own money from the bank
3. A charge for a chequebook
4. A charge for making a draft
5. Charges if I withdraw from another ATM
5. Charges, charges charges, when they are earning interest on my money!

Someday I am going to give up all this and keep all my salary with me in bundles of notes. My grandfather used to do that. And he never had to give my grandmother Rs 750 if he didn’t maintain Rs 5000 minimum balance in the safe deposit vault.

That way neither would I need to keep my own money in the bank, nor pay them to withdraw MY OWN MONEY.

Imagine this. You can keep Rs 50,000 in the bank and can gradually lose all of it through this open theft. Whereas if I kept it as bundles of notes, I wouldn’t lose a paise!

I think that would be better than the above “Bank Robbery.” What say?

That’s why I want to follow Elton John to the simple life again.

"I won't break, I won't bend
Someday soon we'll sail away
To innocence...
And the simple life again."

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