My Great Grandfather - A Man ahead of his times...

 5^th April 2025

My Great Grandfather – A Man ahead of his times….

Poondi Chetlur Chakravarthy Iyengar, my great Grandfather was born in Poondi in 1884. My great grandfather was affectionately called “Chittiya” by his elder brother’s son. The name caught on so much that everyone – his partners, extended family, known acquaintances, and his personal friends called him “Chittiya”.

‘Chittiya’ studied electrical technology at The Tata Institute (now Indian Institute of Sciences, Bangalore) in 1911. He was the first batch of engineers graduating from this Institute.  My mother (grand daughter of ‘Chittiya’) remembers going to the Tata Institute (IISc) around 1953 alongwith her grandfather on the occasion of IISc providing the degree certificate to the first batch of students. ‘Chittiya’ was one among the alumni to receive the degree.

‘Chittiya’ married in 1913 and had three children – eldest was a girl and then two boys. The youngest son, my grandfather, was Shri. P.C.Singarachary. When my grandfather was just two years old, ‘Chittiya’ lost his wife in 1919.

‘Chittiya’ decided to travel abroad after the loss of his wife, leaving his children under the care of his close relatives. ‘Chittiya’ visited Germany and then reached Canada. He did a Masters’ program in Power Engineering at McGill University in Montreal, Canada. On completion of his Masters degree, ‘Chittiya’ worked in GE, Montreal and later at GE, Chicago. ‘Chittiya’ returned to India in 1929. Ten years abroad had changed ‘Chittiya’ in his thoughts, and his outlook to life. He picked up the habit of becoming a Pipe smoker when he was abroad which continued till his end.

‘Chittiya’ started his professional career and founded “Chari & Chari Pvt. Ltd” in Madras alongwith two partners. His other partners were – Mr.Ayyadurai and Mr.Rangachari, who were brothers.

‘Chittiya’ being the professional with knowledge of Power engineering, started agency in early 1940’s for setting up and managing the Power infrastructure in the state of Madras Presidency – extending from Madras to Vizag along the eastern coast passing through Nellore, Guntur, Bezawada. ‘Chittiya’ set up “Guntur Power Lights Ltd” and “Nellore Power Company Limited” for laying the entire power network in the Madras Presidency including the city of Madras. He also set up the electricity division of Katpadi region. He gave opportunities and provided employment to many people including from his relative circle in his company, and other companies which were involved in the power distribution infrastructure.

In 1951, the power company was nationalized and the business was taken over by the government, giving the promoters, including ‘Chittiya’, a compensation of Rs.17,346/- (approximately about Rs.2.2 cr today). (To give a perspective – land in heart of Madras was around Rs.200 per ground (2400 sq.ft) in 1951). ‘Chittiya’ invested in land parcels in Madras, which he had sold later in life, after he had turned 65 years old for his retirement corpus and retired life. He built a big individual house in Pallavaram (those days outskirts of Madras).

In a way, I feel elated that my great grandfather was one of the people instrumental in starting electricity generation to the Madras Presidency.

Chari & Chari Pvt. Ltd also had a business of agency for buying, drying, and selling tobacco to the government.

He was very successful in his corporate life with princely earnings of more than Rs.1200 a month (approximately equivalent of Rs.15 lakhs today!!!) along with dividend and other income.

Despite being among the few wealthy people in Madras from his community in those times, he lived a remarkably humble and unpretentious life.

He owned a red color Moris Minor Car in the early 1950’s, when owing a car was a huge luxury. ‘Chittiya’ would drive to his office at Second Line Beach (the road parallel to Rajaji Salai in Parry’s Corner today). My mother remembers going in the car for any errands in Pallavaram (where they lived in early 1950’s). This car was rented by producer S.S.Vasan (a legendary film maker) for his movie – Three Sons (Moondru Pillaigal) – a Gemini Ganesan movie in 1952.

                                        (Representative Image - Moris Minor 1950's model)

Mr.Rangachary’s brother-in-law was founder of a company, and ‘Chittiya’ was one of the early investor in 1930’s, having invested part of the initial capital for this company. ‘Chittiya’ was a venture capitalist of sorts with this investment!!! He did not capitalize on this small investment, which was his outlook to life – not to look at all transactions as purely commercial. Emotions also play a large role. That company where ‘Chittiya’ invested is one of the large and well-known business groups today.

My mother’s aunt (Papchi chitti) recounts that when she was newly married, she had visited by grandmother (Indira), where ‘Chittiya’ lived his entire life (his youngest son’s house). Papchi chitti had worn a black saree – and ‘Chittiya’ immediately expressed his dislike that black should not be worn by newlyweds, but ‘Chittiya’ was quick to add – “why don’t you do some embroidery or some zari work and then wear it. Then you will also beat the black color and also show your creativity”.. Sharpness of mind at work!!..

In 1930’s, ‘Chittiya’’s daughter’s first marriage sadly ended abruptly and she became a widow. Unlike those times, ‘Chittiya’ accepted her daughter’s re-marriage which was a love marriage. ‘Chittiya’ was very broad-minded and accepted these realities, unheard of in those times, disregarding the societal pressures associated with it.

In the mid-1950’s, he wanted to create a self-contained township, like what he had seen in Germany. He took the initiative, obtained necessary government approval, and created the first self-contained township in Katpadi, which was called “Katpadi Township”. It had well planned colony with straight roads and streets, both boys and girl schools, club for men and a ‘ladies club’ (a rarity those days). This township is known as “Gandhi Nagar” today.  

Because ‘Chittiya’ had left Indian shores and had lived abroad for about a decade, the entire Poondi Iyengar community almost boycotted him from all religious functions at the Poondi village temple (his birth place). ‘Chittiya’ was a very forward looking individual and always felt religion and customs are a matter of faith and very personal to every individual. The community of those times did not accept it. ‘Chittiya’ did not vent out his thoughts but did one thing – he ensured that his grandson – P.C.Singarachary’s son, Ranganathan was named only – S.Ranganathan. Initial of “P” which stood for Poondi was dropped!!

‘Chittiya’ had a passion for music – listening to both Carnatic and Hindustani music on his radio and was a voracious reader. My mother recalls ‘Chittiya’ reading “Illustrated Weekly of India” magazine and “Reader’s Digest” regularly. ‘Chittiya’ used to tell my mother that he was a good cook too. My mother remembers that ‘Chittiya’ was good at preparing tea and used to get tea leaves from Nilgiris and other places. He had a taste for all good things in life.

       (From Left standing - My grandmother, Indira, aunt, Mythili, my mother and father)  / From Left sitting - my grandfather, Singarachary & my great grandfather, 'Chittiya') - 1965

He was a family man who lived on his own terms. He used to visit his daughter in Bangalore, and visited his eldest son in Nungambakkam but lived most of his life after his return to India, with his youngest son, Singarachary, my grandfather.

‘Chittiya’ supported his extended family financially but without the world knowing about it. An altruist by character!

On the eve of Diwali in October 1967, ‘Chittiya’ died at the age of 83, following a short illness.

Truly, a visionary and man ahead of his times…!!

-        Venkatesh

This blog is written based on information gathered through conversations with -

1.     Papchi Chitti (my mother’s aunt) 

2.     P. Jamuna – my mother and grand-daughter of ‘Chittiya’

3.     Bharath Ranganathan – my cousin in Canada who had heard about ‘Chittiya’ from his father, S.Ranganathan (my uncle and grandson of ‘Chittiya’)

and

From Supreme Court Order on the Income-tax case in 1965 (The Commissioner of Income-Tax, Madras vs Chari and Chari Ltd, Madras)

Musings in my Corporate Life...- Part - 2

 

Musings in my corporate life....- Part - 2
(This is a collection of anecdotes and incidents which happened in my corporate life and a few of them heard from my friends.) – November 2022

 1    During my consulting days in 1998, we had a client who was a renowned classical singer    and was also well known in the film industry. He was a phenomenon with a voice     unmatched and definitely a God’s gift.

Once, when the singer found that his close relatives who were managing his affairs and business had messed up the business resulting in huge losses, he wanted us, as auditors to examine and rectify the mess.

When we found that more than few crores have been swindled and lost in the business, the singer wanted us to quantify the losses. He wanted to close all the liabilities arising out of this business mess, and we helped him complete this work and ensured all the liabilities were closed with Bank and other institutions.

During the closing discussions on this assignment, when he understood that the close relative had swindled few crores of rupees, we thought he would initiate legal action for the recovery of it.

But to our surprise, the singer asked us to leave the matter and said he just wanted to know the quantum of loss and not any action to be initiated. He philosophically narrated – “I came to Chennai about 30 years ago in mid-1960’s, when my father bought a train ticket and gave Rs.22/- for my initial expenses. My capital is only that Rs.22/-. What I earned in my career was what God destined that I should earn, and the same God destined that I lose few crores of rupees. So to me, both the inflow and outflow is not because of me. That is the reason I wanted you to leave the matter and close it”.

Amazing philosophy, but very true..

2    My team identified a new concept of “Office Room” which has worked out very well in office. The concept came from scenes from the movie “Sivaji The Boss”, a Rajnikant starrer and a big hit movie in 2007. In the movie, when any individuals or politicians create any problem for the hero, he will ask them to go to “Office Room” which is shown as a closed room. When they enter the room, the next scene will show them coming out of the room, totally rattled and with clothes torn and they accept whatever the hero says after.

As in the movie, any tough supplier or any issue which requires tough consultations would first be handled and negotiated by our team. When the issue was not getting resolved, then the team informs their boss about it. Immediately, the team is told to ask the supplier or the other outsider to visit the “Office Room”.

My colleague or me sit in the “Office Room”, discuss and make the supplier accept to our terms or make his life very tiring and wear him out, to ensure that he just accepts it at the end. The term became famous internally, and even some suppliers or consultants when told that they have to go and visit the “Office Room” knew what was in store and negotiated further and closed the terms with the team itself. 

3    My friend was a CFO candidate shortlisted by a start-up in Bangalore. The guy was very close to the promoters and knew them from their first start-up days. They also wanted this guy since they knew about his competence and also the added comfort that he was known to the promoters and shared similar values and ethos.

     However, as the significantly large stake was held by couple of Equity Investors, they did not consent to this hiring and it was dropped. Such incidents are quite common today, when the Promoters lose their independence in hiring key management personnel where their comfort is also paramount but discounted by the investors.

     From Investors perspective, their favourite comment is always that they do everything for creating value for the start-up, but at what cost….? No answer. 

4    Talking about investors, got to know about couple of conversations which one may say, was rash and un-diplomatic, but to the other, it was right.

a.      When there was a “Rolls Royce” car parked in the cellar parking, investor who noticed it commented to his colleague – Your money is in the form of the car… A nasty remark but cannot be missed.

However, it is a fact that few promoters bought fancy cars or invested in fancy bungalows once the investment flowed in the company from private equity investors. But it cannot be generalised as a passing comment….

b.      When team would present the financial projections for discussion on the investment and also the valuation levels, the investor’s team would pass remark as – these projections are “Hockey stick projections”. Think of it, you realise that such comments are unwarranted but you hear it. This abrasive barb is made when you see the sales to be practically NIL in probably the initial years and shoots up in subsequent years giving a visual graph of a ‘Hockey stick’… Whatever may be the reason, there is always a diplomatic way to communicate it… 

5    Few businessman or CEO of companies has the habit of using their favourite words – “Do it now, today, immediately.” The phrase can be in any combination. They will not listen to any points explaining that such work cannot be done immediately due to various factors. And living in India, every activity has its own timelines wedded with many external factors and you just cannot break it and be successful in completing the tasks. The best way is to hear them and try to do your best. 

6    In recent times, when you interview Gen-Z kids (in their 20's), you come across very new personal traits which were not seen even 10 years ago. These kids are very sharp, clear in their outlook and tuned to look at opportunities in every job they take up – the days of individuals wanting a long career, start small and grow big as years pass by are a clear “NO” to these kids. They want instant gratification, instant growth and instant…..

One of the typical questions they ask is on the number of work days – five day week or six days… is a definite question. And in many industries, it is six day week even now in India. These Gen-Z kids accept it grudgingly and look to change at the first opportunity to a place where it is five-day week.

A favourite topic of discussion amongst these Gen-Z kids is on “Work Life Balance”…. They will tell you that he or she joined a company because it provides a good “work life balance”….

Have you ever heard of this phrase “Work life Balance” in your entire career even 10 years ago… Mostly “NO” We cannot understand what these kids intend when they put forward such concept. Even today, I am puzzled to get a correct answer or explanation for “Work Life Balance” in corporate life. 

7    You come across few businessmen for whom construction is a never ending and continuous activity. Ask them and their favourite explanation is – “You have to keep on constructing – whether a building or small modifications in the existing infrastructure. It symbolizes growth. No construction denotes no growth”. Can’t understand their thought process, but cannot agree in the current era where, for a successful business “Cash is King”. Only cash flow generation of a business is success of it with higher valuations and higher cash profits. Any business does not create value only by having huge assets. It can only be a driver to generate cash flows. Favourite statement heard in the lobby – “These businessmen always like the smell of cement…..” so true….   

8    In weddings, amidst young and middle aged people, office staff gets on to the stage for wishing and blessing the young couple. Most of the middle aged and few young individuals have tummy in various sizes – small, medium and large. When all stand and give a pose for the photo and video, one guy will invariably shout and give instruction to the photographer and videographer – “Arrey, make it fast and complete the click and video shoot. People cannot hold their breath for a long time and draw back their tummy and look better in the photo and video….!!!”

You will recollect the well-known advertisement during the mid-2000 when this holding back tummy act was demonstrated by middle aged guys in the advertisement to draw attention of young girls…And it was an advertisement for soda… 

9     Drivers, office boys generally have the habit of overhearing conversations and observing activities of their bosses. Hence, when they are around, It is better not to be consistent in your activities or have a consistent pattern of work.  One should always have surprise element in your activities. Else, they are too sharp to notice and judge you by the activities or conversations and go around with many gossips and unnecessary comments. 

10     Art of questioning – When you interact with individuals, you can determine their knowledge level from their questioning itself. You find Individuals who only have base level knowledge, and end up asking 2 questions on any subject. It clearly denotes the shallow knowledge level. By experience, you can judge that any person who asks the 3^rd question on the subject, it indicates good level of depth of understanding of that matter. Not that he is an expert, but has got a base grip on the subject. 

11     Quotes and comments heard – 

            i.    In discussions with Investors, you can hear their favourite saying – “Where is a skin in the game from the Promoters?” Many large projects or turnaround plans will have this issue. Promoters point of view is that we have created the business till now. Investors point is that without any or little capital flowing from the Promoters, Investors feel it is a risky proposition. It is true from both sides.. 

           ii.    Planning without money and communicating a good business story is an art. Some businessmen are good at it and convince the team also. Whether they are successful in such ideas is always a question mark. It is similar to the popular Tamil saying – வெறும் கையில் முழம் போடுவது | Make money out of thin air!! The literal meaning of this Tamil phrase is…. Only if there is an object like a flower, the elbow can be measured. 

         iii.    In corporate life, when you win in a legal case, it really gives a “feel of High”. You really go through it and enjoy the success in a case in court / Tribunal. 

         iv.    “Creating a debt is tough, and managing such debt is much easier”. A true statement. 

          v.    Few businessmen treat sales equals profit (sales = profit). Any revenues collected will be spent without understanding that there is a cost element and the balance is only profit. Such business, end up in cash deficits and requires immediate correction.  

         vi.    One Colleague had this quality of putting the two people on a con-call along with him, when one person has called to complain about the other. This ensures that the two complaining people have no other option than to close the issue and no more “panchayat” is required!!     

12         A true statement in the world of MONEY MONEY MONEY…..!!!

-  Venkatesh 

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Disclaimer: The incidents narrated above are adaptation of events, either experienced by me or told to me. They do not represent the actual events. The characters in these incidents are only a reflection of individuals whom I have interacted in my corporate life or heard from others and any resemblance to any individual is purely coincidental. 

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Indian Marriages during Corona times..

 Indian Marriages in Corona times..

  

1.    A south Indian marriage was done in Chennai in July 2020. Typically, such marriages are done in a big way in a wedding hall which can easily accommodate more than 750 people and dining hall with capacity of more than 500 people. Such halls are in huge demand and booking is done more than six months prior.

In this marriage also, booking was done much earlier. And during peak COVID times, there were only 50 guests in the hall. It was awkward for guests to see the huge hall almost empty.

The parents had to visit Chennai Corporation and Police Station to get necessary permissions. Any parent would definitely not want to visit a Police Station before a wedding.

Instructions from the Commissioner and Police were not to have more than 50 guests and that their officials will visit the hall to check on the wedding day. What a situation?

And guess what – out of the 50 people, there were 5 people of the nadaswaram / thavil performers, 10 catering persons and the rest only can be guests!!! Which meant only the parents of the bride and bridegroom and very close first circle guests could attend the wedding. On top of it, their names should have been included and provided with e-passes by Corporation….

When anyone entered the main gate, they were first asked to show their Aadhar card and the e-pass and then the guests were checked for temperature, had to sanitize their hands, given gloves to wear on their hands before they entered the hall. Of course, all wearing face masks. Social distancing was a norm, wherein the chairs in the hall were placed with good distance between them. Nobody would have imagined such weird scenes, but sadly that is reality.

Luckily, there was ‘live streaming’ of the wedding planned when it was apparent that none of the close relatives from other parts of India and USA would be attending it. The live streaming was a new experience with seeing the empty hall and all attendees wearing masks, making identity of all very difficult!!

 

2.    Another wedding of a Rajasthani couple was performed in Udaipur in end of June’20. The marriage was fixed in Jan’20 and all arrangements made for a grand wedding. COVID turned everything upside down.

The ‘kundalis’ of the bride and bridegroom for the auspicious time for doing the marriage was available next only during early 2021 and hence the parents went through with conducting the wedding during the Corona times. No alternatives..  

The wedding was performed without the regular pomp and colour associated with such weddings. No horse ride for the bridegroom and no group dancing with band when the bridegroom enters the wedding hall.

As there were only limited trains from each state capital to Delhi during the lockdown, many of the relatives from Hyderabad had to travel to Delhi and then from Delhi to Jaipur. Adding to the pain, people had to stay in Delhi station as people were not allowed to leave the Delhi station.

And from Jaipur, the relatives had to take permission to travel to Udaipur because inter-district travel by road was restricted during lock-down.

A virus creating havoc and making travel a nightmare was unimaginable. Even if anyone would have said in 2019 about such a situation, it would have sounded ridiculous…

 

3.    A south Indian marriage was planned in Boston, USA in May’20, as both the boy and girl were in USA.

Both the parents were in India and planned to visit USA in April’20 ahead of the wedding and had booked flight tickets for themselves and for their close relatives.

By March end, lockdown in India ensured that all international flights were cancelled indefinitely. This came as a shock for the parents and made all marriage plans go awry. Thanks to Corona virus, people had to think out of the box to perform the wedding.

The girl was living in a different city and had cancelled her apartment lease because of her plans to move to Boston after the wedding. In USA, restoring a lease becomes a hassle and expensive. The girl had already got a new job in Boston and had to join after the marriage. Hence postponing the wedding was impractical.

As they say, necessity is the mother of invention… So true..

The marriage rituals were solemnized on Skype. The priests narrated the slokas from a different city in USA and the boy and girl listened to the slokas and went through the rituals as directed by the priests on Skype.

The audience were the parents in India viewing the marriage on Skype..

The boy and the girl attired in traditional South Indian dress and performed the marriage from their home itself. The camera on their iPad captured the images around their Pooja room where the prayers were conducted and all rituals solemnized. The video was transmitted to the parents through Skype. Each of them helped the other with eating sweets and completed all the prayers.

A convention centre which was planned as the venue for the wedding was cancelled, as there was no public gathering allowed in USA during the peak of COVID times and lockdown.

A Skype wedding in 2020!! Unimaginable but true.

 

4.    A Telugu wedding was done in Hyderabad in a resort in August 2020. Generally Telugu weddings are done on a large and grandeur scale with colourful decorations of the wedding hall, large food court with extensive cuisine and with a large gathering of more than 1000 guests.

Because of COVID restrictions, wherein no large gatherings were allowed, it was restricted to 50 guests.

The bride’s father, a businessman, had booked the entire resort having 150 rooms and villas for two days of the wedding.

The plan was to make 150 families visit the resort as guests of the resort. They also would attend the wedding in smaller groups.

In the wedding hall, it was ensured that not more than 50 guests would be around and after blessing the couple would get into the lawns of the resort or their respective rooms/villas.

But whatever you do, these weddings during the COVID times have lost the grandeur and the charm associated with it.  

 

Thoughts and Observations:

 

·         Is the COVID-19 virus a reminder to mankind that nature is much stronger than man? Or is it a reminder to mankind that if man abuses nature, face the consequences.

·         Is the COVID-19 virus a man-made disaster? Some vouch for it but we may not get any proof or answers at all.

·         Indian weddings have always been associated with grandeur and a very happy and memorable occasion. The entire family, extended family and a large circle of friends of both the boy and the girl attend it and make it a joyous occasion. The weddings are conducted for one-to-three days depending upon the extent of deep pockets of the bride’s parents..

·         The Corona times changed all such wedding plans and turned the world upside down.

·         Parents’ mention that the wedding budget during the Corona times have reduced by approximately 50%-60%. Spending about 40%-50% of what was planned has given the parents a very big dilemma and led to confounded thoughts which will take a long time to recover.

·         Parents always express that it is their duty and right to perform grand weddings and wish to spend on it. But the unprecedented scenarios of Corona virus have changed such wedding plans. Some may give the balance 50%-60% amount which was not spent in the wedding in any other form of asset to their daughters.

·         A different angle is that the amount planned and not spent on wedding be donated for any good and deserving cause. Or the amount which was planned for the food at the wedding be donated to serve food to many underprivileged and socially challenged children.

·         Due to the Corona times and lockdown, many jobs have been lost in the wedding industry – including at wedding halls, cooking teams and labour associated with the wedding halls. Even numerous ancillary and indirect jobs in conducting such weddings are lost. It has severely affected their livelihood. If you consider this scenario, then conducting grand weddings are socially right as it becomes the livelihood for many hundreds of families…..

 

-       Venkatesh

 

Disclaimer: The marriages narrated in this blog are adaptations of the events, but does not imply the actual incidents.

Being an "Empty Nester"....

Being an ‘Empty Nester’….

My daughter joined an eminent Private University out of Hyderabad. She was particular in joining this college for her Bachelor’s program (UG program), and when she got her admission, she had no second thoughts of being away from her parents and getting into a new phase of life. For me, life of being an ‘empty nester’ commenced….
And for mothers – they see the vacuum, when they cook any dishes which are loved by their kids and unable to feed them. Mothers are mothers….anywhere…

I see the present generation, and find them to be very clear in their thought process and firm in their decision making. No amount of parent’s advice or inputs can change their decision so easily. They are less influenced by their parents but more influenced by what their friends or peers do or say. I feel such decision making by the present generation has its own perils and maybe incorrect, but very difficult to convince them.

In the US, it is almost natural that the kids go out and start living in dorms on joining their Under Graduate programs in Colleges/ Universities. I got to know that in USA, the term ‘empty nester’ is popular and used to denote parents whose kids have moved out to start their college life and parents start living alone in their homes..

Effectively, kids start living independently from their 18^th year onwards and after their education including their PG program, start working to begin their career. Think of it, parents have the luxury of bringing up children only till their 18^th year and after that see their children grow into adults and blossom in their chosen careers only from a distance.

In India too, more and more kids have started to live independently once they join college leaving many parents as ‘empty nesters’, which creates a sudden vacuum in the day to day lives of the parents. If there are two or more children at home, then becoming an ‘empty nester’ is delayed for the parents, but inevitable.

The immediate change for me was the imminent vacuum at home, when you return from office, when the house is practically silent. Already, after the advent of smart phone, in almost all houses, each member of the family is busy seeing or doing something with the mobile, reducing conversations to NIL. I think that when my daughter was around, you have conversation with many (atleast two persons!!), now it is only one – your wife. This brought out a change in me – you try and start having more conversations with your spouse, unlike when the kids are around.   

But the same smart phone and new technology, has given a good workaround – to have video call with your daughter and atleast have a solace of seeing your kids often.

Kids staying away from parents during their college life, gives them the independence in thought process, become more responsible as they know that they alone are responsible for their actions. Kids also learn to interact with others, given the necessity in college, to interact with different kinds of people coming from different back-grounds, resulting in honing your social skills, a quality definitely required in today’s world. As parents, we can only keep a watch that our kids are in the right company of friends, because environ and friends make a big difference in character building of the kid.

Kids of the present generation do not get ‘home sick’ very often because they get along well in the company of friends and also keep calling their parents, thanks to the mobile with each of them.

   

Having now adjusted to the new environ of an ‘empty nester’, you feel to get over the vacuum, there have to be new avenues or activities apart from work. I realised that one good way is to develop a new hobby – start learning a new art – a musical instrument and your mind is kept occupied in learning the new art and keeps you pre-occupied.

I have seen many who get involved in other avenues – spending more time at gym to be more fit, professional running, cycling, learning a new sport, learning new technology, involving in many social activities. The point is to fill up the emptiness in one’s life by using up the time and being pre-occupied. Yes, the other well-known hobby is always there – the oldest and best hobby of reading or writing.

-       Venkatesh

My memories of Badri..

My memories of Badri:

Badri Narayan was my mother’s cousin, and eight years elder to me, but my relationship was more of a cousin and an ‘influencer’ to me in many ways.

I was part of MSR and Badri Narayan (BN) team for six years from 1994 to 2000. Those six years I interacted, watched and learnt a lot from BN – from ways of dressing to talking to people to spiritual and religious induction.

BN was witty by nature but had bouts of short temper which remained for a short time and then melted away.

BN was instrumental to my first induction to religious talks. I accompanied him to such religious talks – I still remember the first religious discourse attended by me, by Smt. Prema Pandurang ji on Bhagwatham. BN used to say that attending such religious discourses creates calmness within (atleast during the discourse sessions) and also will end up learning something. This is a fact. I got hooked on to this and even today attend any religious discourses.

In early 1995, I was at BN’s house, when he and his family with few relatives started reciting “Vishnu Sahasranamam”. I sat down and also was listening to the recital. Afterwards, when I said I wanted to learn, BN asked to keep a book and start reciting the sloka with an audio of it for assistance. His point was to make a start. I did it religiously, and even today recite “Vishnu Sahasranamam” once a week. Thanks to BN for this advice.  

BN had a great dressing sense. One fine morning, at R&B office, he started dressing with suits with tie. Still he continued his practice of having ‘namam’ (‘Thirumann’ to be precise) on his forehead, even while wearing the suit. And watching him, he influenced my dressing style. BN had a pattern of dressing – plain colors for a week, stripped shirts one week, checked shirts another week. When much later I had been to his new home, he took me to his wardrobe and showed me sets of shirts – plain, checked, striped, printed – all kept neatly and separately. He said every set is for every week. Even today, I dress up following BN’s concept – each pattern of shirt of each week.

I vividly remember BN’s liking for ‘white’ color. For him, white color shirt meant a bright white which should glow. Any dull white was not ‘white’ for him. When I met him later, and I was wearing a bright white shirt, he commented – “PV you are wearing a good white shirt”… Such was his idea of perfection.

Coming to perfection, he was a perfectionist, in whatever he did. I remember he correcting letters to clients more than four-five times – and in the last version, there would have been a very small grammatical error – which any other person would just ignore and leave it – Not BN – He would still correct it. He was “perfection personified…..”

In one of the discussions, BN explained his rationale on perfection – “I do not have any bad habits – no smoking, no drinking. How can you let out? For me being under pressure from my professional work and trying to achieve perfection – gives me the satisfaction and also acts as an outlet” A very different theory – I still remember this thought process of BN.

I have watched BN in office with a “Things to do” List writing pad on his table. He had the habit of writing in any small papers available with him when he was travelling in his car or outside on pending work or work to be done. When he reached office, he used to take all these small bits of papers and write them in the “Things to Do” List pad. And he used to execute each of the tasks and striking it as “Done”. I have just copied this way in my professional life, and got printed a “Things to Do” List writing pad and use it even today.

BN had a great quality of returning calls before the end of day. I used to see him take the list of unanswered calls at office, and return each and every unanswered call before end of day. I imbibed this quality in my professional life.

BN was also a perfectionist in his eating habits. Once when I went home with him for lunch, there was a silver plate for him. He was served rice which had to be ‘absolute right cooked’ – which meant the rice should not be sticky but should be like flowers and also hot. Jayashree understood BN very well and served the best for BN. I was lucky to also get the best that day!!

When my sister, Rama and cousin, Radha visited Bangalore in 1996, one of the night stay was at BN’s house. BN was at his witty best – and then planned a trip for them on what and how to visit places in Bangalore. His plan was executed to perfection. BN had this quality of charming everybody and very good at preparing plans for anything – and to perfection.

BN had great memory. In office, he started the practice of celebrating birthdays for every staff. We used to sing and cut a cake in office, with BN and MSR present for the celebrations. BN used to remember and definitely call me on my birthday to wish me and also called on my wedding anniversary. I used to definitely call BN on his birthdays and wish him.

On his birthday in 2016, I had called and wished him. Then I was asking him about my interest in learning “Thiruvai mozhi” written by Nammazhvar. His immediate response – “PV, learning Thirvai mozhi will take lot of time and will be difficult. You start reciting “Kovil Thiruvai Mozhi”, a condensed summary and easy for a beginner”. Immediately he advised me to download the audio from the internet and start reciting it along with the audio. His advice has resulted in me reciting “Kovil Thiruvai Mozhi” every week. He was truly an “influencer” to many.

In Feb’18, when BN was being treated for cancer, I went to meet him and was there with him for the full day. We were discussing about many anecdotes during my days in R&B and also about many funny incidents with clients. He was in pain due to the treatment, but was still cheerful and with positive energy. A client had come in the afternoon that day for advice, and I saw him giving solutions and options to the client for the problems, despite his personal ill health. His positive attitude is something one should learn and I have definitely learnt it.

Sadly, he is no more with us today, but his memories will remain with me till my last breath...

-       Venkatesh

Tribute to R.K.Narayan

Tribute to R.K.Narayan

Preface:

Ø  This blog is an analysis of two novels “The Financial Expert” and “The Vendor of Sweets” written by R.K.Narayan.

Ø  This analysis is my tribute to R.K.Narayan, a genius and a writer par excellence with amazing foresight into the future…

Ø  The lines in italics and underlined below are lines taken from the novel.

Ø  I have taken the lines from the novel and related them to the present. The amazing part of it is that what he wrote almost 66 years ago (The Financial Expert) and almost 52 years ago (The Vendor of Sweets) is very relevant and true even today. Such was his foresight and vision into the future. Truly amazing...  

Part A: The Financial Expert (First published in 1952):

…Margayya, though very much their junior (he was just forty-two), commanded  the respect of those who sat before him. He was to them a wizard who enabled them to draw unlimited loans from the co-operative bank…

Ø Even in today’s world, the so-called investment bankers/ debt syndication specialist present themselves as wizards who can do anything to structure and get loans to their clients.

Ø Such specialist presents themselves with such confidence and have the gift of the gab that you think that he/she can solve any of your business problems...

... Oh! You have come back for a new loan, I suppose. If you pay seventy-five rupees more, you can again take three hundred rupees within a week!...You pay the same seventeen rupees eight annas but with another three hundred rupees in your purse. Don’t you see the difference?”…

Ø  This is what is called ‘ever-greening’ in banking parlance. The specialist would suggest the client to pay the balance and avail a larger debt, irrespective of whether the business needs the same or not.

Ø  A slight difference of this technique is, when the banker himself says that the bank will lend a fresh loan and part of the fresh loan is used to pay the old outstanding installment or interest.

Ø  One of the key reasons for such increase in bad loans in banking industry today is such ‘ever-greening’ and both the lender and borrower have to take the blame for the same.

Ø  How R.K.Narayan would have thought about it 66 years ago is just mind boggling…

…but he felt he ought to sacrifice himself for the sake of his son’s educational progress. He wanted Balu to grow up into an educated man, graduating from a college and probably going for higher studies to Europe or America….He felt that no expense was too great for a child’s future…

Ø  Today, there are many opportunities for the children to take up different subjects for higher studies and also numerous career opportunities.

Ø  But my take is that parents are deemed lucky if their kids do well in their studies, whatever it may be, and build a successful career on their own.

Ø  No amount of money can get your child a good career or good education. A child’s destiny in doing well in their career is in their own hands.

 

…I think it’s best they are left alone to manage their affairs in their own fashion. I have recently acquired a house in Lawley Extension. I think it best that they move of there.”..

Ø  In India, till recently joint family was very prevalent, with the son’s family lived with their parents.

Ø  In the novel, Margayya wants his son to live separately after his marriage. A very different thought process imagined by the author 66 years ago and what is happening today.

Ø  The reason given by R.K.Narayan – that the young couple wants their own space and wish to manage their own affairs is far ahead of time and relevant today.

Ø  In addition, today, many parents also want their own space and time and wish to stay separate from their kids.

Ø  What a forethought that joint family will give way to nuclear family in India and thought and written 66 years ago…. Wow…

“You know what the market has been!” said Margayya. “This is the time when I wish to attract deposits rather than lend. People have money and are looking for a place to put it.”…

“Are you really serious about depositing your cash with me? I can offer you an interest of 20% on your deposit which you can draw monthly.”… “The banks are offering only three per cent.”  “I’m not concerned with them. I’m not a bank, but I can guarantee you twenty-five per cent.”

“How do you manage it?”

“Well that is my look-out,” Margayya said. “I have a business which yields me more; I have investments which give me probably twenty-five per cent. I keep five per cent and turn over the twenty per cent to the depositor; after all,” he said with a very virtuous look, “I am using your money. Unlike the banks and co-operative societies, I believe you are entitled to the larger share as the owner of money….

Ø  The business of collecting deposits from gullible public is depicted so accurately in the novel, the rationale and the logic presented to the public by such scrupulous finance companies.

Ø  One view is certain – Human greed existed since time immemorial and continues even today and these finance companies play on the human greed.

Ø  Any layman in his normal sense would understand that no finance company can give returns as high as 20% consistently with keeping the principal safe and intact. It is not commercially possible, but sadly, human greed takes over.

Ø  In addition, these finance companies, typically fly-by-night operators, provide amazing and very believable promotion material, explain their business as if such returns are possible with very little risks and public get carried away.

Ø  It is very a simple rule in business – higher the risks, higher the returns….  

Ø  It is amazing that the author thought about such a scenario and created a story line with events which has happened in the past, happening now and will happen in the future… finance companies promising high returns and collect deposits and cheat the public… because the principal is never paid back… How relevant in today’s world.

Ø  To recollect a few examples, where promoters of finance companies came out with very innovative schemes and collected deposits only to fraud the public –

o   Teak and plantation – Anubhav Plantations

o   Benefit fund – Royapettah Benefit Fund

o   Ramesh Cars – promised interest of 30% and also incentive if new depositor is introduced

o   Balu Jewellers

o   Sneham

o   Alwarpet Benefit Fund

Ø  The total amount of fraud is in excess of Rs.1800 cr upto 2000, and would be much more later.  

… On the following month when he went to Margayya’s, the accountant gave him the cash. When he got this interest as a reality, the man was aghast and cried: “That man Margayya is a wizard. How does he manage it?”

Margayya calculated: “If I get twenty thousand rupees deposit each day and pay fifteen in interest, I have still five thousand a day left in my hands as my own….”

Ø  Such finance companies paid interest promptly for the first few months, till the cash cycle was broken and no new deposits were forthcoming…

Ø  Interest for the old depositors is paid out of the cash received from new deposits… what ingenuity….

Ø  The novel captures the action to such precision, as if these promoters read the novel and started their business…!!!

…….“Things are probably not going smoothly there.” He was the first to meet Margayya at his house that morning. “I want to take back my deposit. There is a marriage proposal likely to shape out…”he held out the receipt….”It’s urgent, I’ve to find immediate cash.”

“You have already drawn interest on it?” “Yes…Yes… But I want the principal.”

“Oh yes, certainly,” said Margayya.

….This was the starting point…One after another they came with their receipts. Margayya returned their cash without a murmur. The street became congested with people converging on his house….The accountant was struggling to approach the house in the midst of the crowd…

“My life savings gone! I am a beggar today!” one of them shouted…

They were pulling him here and there…All the cash sacks were empty and slack; yet peeping through the window, Margayya saw seas and seas of human heads stretching to the horizon, human faces at their most terrifying…

There seemed to be only one them for all the cries: “My money! My money gone! All my savings gone….”

Ø  When the cash flow cycle breaks, trouble starts and interest cheque bounces or delays in interest payment.

Ø  Panic sets in and there is a ‘run’ on the finance company.

Ø  Even a large bank like ICICI Bank had a ‘run’ on it in 2008, when panicked depositors thronged the bank in Ahmedabad and other cities and wanted their deposits back. It was so volatile that RBI had to step in and gave assurance to the depositors that their money was safe.

Ø  But for smaller finance companies, such a ‘run’ triggers panic, closure of their offices, promoters run away from the scene and public end up as losers.

….Please send for the police…Hurry up, otherwise they will mob this house: they will kill us,  they will set it on fire….”

…bring a lawyer… I am filing insolvency at once.”

Ø  Insolvency is new to India, but in the novel written 66 years ago, the character files for insolvency…

Ø  Whenever, the finance company collapses, the promoters just vanish leaving the depositors in the lurch devastated and with no way to recover their money…

Part B: The Vendor of Sweets (First published in 1967):

“My son is in America,” he said to a dozen persons every day, puffing with pride on each occasion…when a colourful airmail letter had arrived by post, he had almost felt the same joy as if Mali had come back. The message simply said, “Arrived, New York is big. The buildings are very tall, not like ours. Thousands of motor cars in the street. Food is difficult. I am in a hostel.”……The blue airmail letters grew into a file….

Ø  In this novel, the son of the main character goes to USA and on arrival informs his father in Malgudi by sending an airmail.

Ø  Many letters follow where the son describes USA and the people around.

Ø  Only the medium is different today – airmail has changed to telephone/ mobile

Ø  When going to USA was becoming the norm in mid-1990 in India, in every house, every weekend, the parents wait for the call from their son or daughter in USA. The funniest part is that all the family members wait for their turn to speak to the person in USA.

Ø  And the parents explain about USA, the tall buildings, neat roads, Walmart shopping etc to their relatives and friends, whomever they meet in any functions or wedding.

Ø  However, when every house has someone in USA or other country today, such advertisement talk about USA has come down.  

….Matters became worse when Mali indicated the girl at his side and said, ”This is Grace. We are married. Grace, my dad.” Complete confusion. Married? When were you married? Who is she? Anyway she looks like a chinese….

Jagan said, “I am not doubting her goodness, but I repeat that she is not married to Mali at all.”……”I can’t understand how two young persons can live together like this without being married,” said Jagan….”I feel my home is tainted now…..

Ø  More than 50 years ago, the author had written about marriage to a foreigner, “living together”. Such incidents have become common today.

Ø  In today’s world, love marriage has become very common because of both the boy and the girl being educated, have independence due to their career and take decisions on their own.

Ø  Most of the Parents have started accepting love marriages as reality.

Ø  In USA, the second generation of Indians, who are born and brought up in USA, have started or many years into their professional career, married either to another Indian or American. Today, the talk in USA is “Let them marry any one of their liking, we will be happy if it is of opposite sex and not same sex marriages!!!”

-       Venkatesh