In 1981, a Wizard of finance passed away. His funeral was attended by the who’s who of the industry. There were Bankers, businessmen and amongst them a man who owed a great deal to the wizard. Amidst a conversation with those who were present at the funeral, he narrated a story.
It was the story of a loan that did not just change the man’s fortune but had a great impact on the nation’s economic advancement.
The year was 1968, and the narrator of the story was dreaming of a new company that would grow out of his textile mill. Everything was falling in place. All he needed now was a loan of ₹ 2 lakh, but was constantly facing rejection, for the want of a guarantor.
It was then that the finance wizard, Dr T.A. Pai of Syndicate bank, took the call of believing in the entrepreneur. Dr Pai facilitated the entrepreneur’s loan for he looked at lending as a banker, and not as a moneylender. The loan was approved and the rest, as they say, is history.
With his dedication, and the help of the loan, the entrepreneur’s business grew by leaps and bounds, from a textile mill, into what the world knows as Reliance. The entrepreneur was none other than Dhrirubhai Ambani.
As for Dr T.A. Pai, his philosophy of thinking like a banker earned him huge achievements in life. When the Syndicate Bank was nationalized by the Government of India, he became the Chairman of Life Insurance Corporation of India. Later, he went on to become the first Chairman of IIM, Bangalore.
The story featured in a 1987 issue of Forbes magazine with Dhirubhai on the cover.
How many more Dhirubhais would we have had, had there been more believers like Dr T.A. Pai? Hundreds? Thousands? A small loan could have completely changed their lives and India’s business game!
Thankfully, times have changed. A small amount of ₹ 10,000 credits in your account in under 30 seconds. You can also get a loan of ₹2,00,000 in just 2 minutes. Kwik starting on your dreams is not much of a hassle, for all you need to do is find your Dr T.A. PAI.
All the best!
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