Indian Business Mind: Look How It Works

Indian Business Mind: Look How It Works

It's a true incident.

An Indian man Mr. P (good friend of my good friend of yester years) walked into a bank in New York City and requested for the loan to Loan officer.

He told the loan officer that he was going to India on business purpose for two weeks and needed to borrow $10,000.

The bank officer told him that the bank would need some form of security for that loan amount.
So Mr. P handed over the keys and documents of new Ferrari parked on the street in front of the bank. He produced the title, the proofs and everything was authentically checked out.
The loan officer agreed to accept the super-car as collateral for the loan.
The bank's president and its officers all enjoyed a good laugh at the Indian (Mr. P) for using a $250,000 Ferrari as collateral against a $10,000 loan.

An employee of the bank then drove the Ferrari into the bank's garage at the basement and went on to park it there.

Two weeks later, the Indian returned and re payed the $10,000 and the interest,which comes to $30. 82.

The loan officer said, 'Sir, we are very happy to have had your business,and this transaction has worked out very nicely,but we are a little puzzled.While you were away,we checked you out and found that you are a multi millionaire.What puzzles us is, why would you bother to borrow just '$10,000' ?

Mr. P, an Indian Businessman replied, 'Where else in New York City can I park my Ferrari for two weeks for only $30.82 and expect it to be fine over there when I return?''

The Bank President and the whole staff who were calling names to Mr. P, soon realised why he is multimillionaire and how amazingly the Indian Business Brain works.