BANKING - EVOLUTION OF YOURS TRULY

The lockdown had the effect of unwinding oneself while certain events brought fresh memories to the fore. On first of April as the world forgot its Fools Day pranks and was monitoring the movement of Corona across the globe, yours truly travelled back in time. As a young boy who had managed to get hold of a piggy bank in the shape of an elephant, the labour of a middle aged lady across the street in making cowdung cakes. The spirited lady sold these cakes to be used as fuel. The land soon was acquired by a nationalized bank and a new bank came into being with a young man as its mascot. Named Vijaya Bank, yours truly became one of the first few depositors open an account with the branch. Hardly being able to reach over the counter or even reach the table of the manager, an account was opened.The first savings bank account was held by yours truly with this bank.

The next bank which had opened its doors was for a recurring deposit with Bank of Baroda. Therefore, the news of the merger of Vijaya Bank with Bank of Baroda was received with mixed feelings.

Entering the twenties, the rolls of Syndicate Bank ventured to figure yours truly on its list. A year of golden relationships, wonderful memories and bonding ended in moving to another job. The news came that Syndicate Bank was merged with Canara Bank. The only solace was that two Karnataka based banks were being merged to make a behemoth. The bank had in the meanwhile bid adieu to its mascot the loyal dog and moved on to greener pastures.

Later, a posting in a building which hosted Corporation Bank led to the opening of an account with it by severing ties with the others. The relationship of nearly two decades is now being severed. The merger now with the Union Bank of India has ended another tryst with banking.

Decisions such as these have ended emotional relationships with banks which were started by eminent financiers in their heydays and held a distinct identity despite their nationalization. The Karavalli belt of Karnataka which was the nursery of many of the leading banks of the country, will now have only Canara Bank in the public sector and Karnataka Bank of the private sector. Vysya Bank was taken over by the Dutch MNC ING. 

Even the State Bank of Mysore which had a heritage of being set up under the able guidance of Sir M Visveswaraiah under the royal patronage was not spared. It gave way to State Bank of India which ended another legacy of the Karnataka banking system.

The only straw to hold on to the emotions emerged in a friend's son landing a job in the Union Bank of India to keep an emotional chord in banking alive even in this digital and lockdown era.