Few months back Sameer had a life that was envied by every one. An average student in the school he some how managed to clear his 12th boards in commerce. When all his mates were preparing/appearing for CA he opted for his normal B.Com, that too from the best co-education college. His skill of story telling insured, that his father was made to understand that the only way the kids of today can go to the college is through a bike and that too Bajaj Pulsar. So he had every thing on a platter. A more then decent pocket money, great bike, latest mobile and classy wardrobe is what he always possess. His art of making friends out of no body also ensured that he hardly made the payment at canteen for his cold drink.
After some how pulling through the college, he decided (yes he did took a decision) that he intends to do a MBA from a leading institution. As always the admission was a cakewalk as his father had enough clout in the management committee. Having a celebrity status in the college he was one of most high profile guy in entire batch.
When the companies started coming for campus interview, the least tensed and worried was Sameer. He got through in almost all the interviews, but finally settled for the leading private bank. Even though the college was yet to be over Sameer was employed and hence started to drive his mothers Wagon R to the college.
The pay package was very attractive having being offered more then 50K per month as a start. He was in the loans department. Soon he got the hang of his job and started to perform very impressively. The loan disbursement by his team was highest in the branch and soon he was the number one in the city.
While life was going very smoothly in the office, the personal front was even better. Though all his colleagues were driving Santro or Wagon R, Sameer went and bought Honda City with a meager EMI of 13800 pm. He was partying every night with the best chick in town and if cash was a problem the credit cards were always there for the rescue. He could spend a much as 3000-4000 per day.
The circle of life started to take its own turn and the markets started to collapse. The slow down and recession started to take its toll on the business. While all were worried, Sameer being Sameer, he started offering loans to his customers to repay the past loans. His partying continued and as the salary has doubled so has his car. He was driving a Honda Civic now with a monthly damage of Rs 22800 on his pocket through EMI. He proudly displayed his credit card limits to his friends (which were all choked to the top).
As luck would have it, his customer were declared defaulter at much faster rate. Sameer was instructed to start collecting the money from the market. As the customers were never so financially sound, as projected by Sameer in the bank, lots of them refused to pay. His defaulter list was the biggest in the bank. Soon it was also known that he has fudged the documents to get the loans cleared.
Sameer lost his job 5 months back. He was already an alcohol addict due to daily partying and took to drinks in a big way. The Honda Civic was confiscated 2 months back due to non-payments. The credit card agents are everywhere at his home, his cell (which is switched off), land line and what not. His attempts to get new jobs have all failed as his reputation precedes his interviews. His health has deteriorated with lever having major problem, high BP and hypertension.
Today at 29 years of age Sameer find himself amidst the entire problem in the world with his poor old parents looking after him and also trying to repay his loans.
After some how pulling through the college, he decided (yes he did took a decision) that he intends to do a MBA from a leading institution. As always the admission was a cakewalk as his father had enough clout in the management committee. Having a celebrity status in the college he was one of most high profile guy in entire batch.
When the companies started coming for campus interview, the least tensed and worried was Sameer. He got through in almost all the interviews, but finally settled for the leading private bank. Even though the college was yet to be over Sameer was employed and hence started to drive his mothers Wagon R to the college.
The pay package was very attractive having being offered more then 50K per month as a start. He was in the loans department. Soon he got the hang of his job and started to perform very impressively. The loan disbursement by his team was highest in the branch and soon he was the number one in the city.
While life was going very smoothly in the office, the personal front was even better. Though all his colleagues were driving Santro or Wagon R, Sameer went and bought Honda City with a meager EMI of 13800 pm. He was partying every night with the best chick in town and if cash was a problem the credit cards were always there for the rescue. He could spend a much as 3000-4000 per day.
The circle of life started to take its own turn and the markets started to collapse. The slow down and recession started to take its toll on the business. While all were worried, Sameer being Sameer, he started offering loans to his customers to repay the past loans. His partying continued and as the salary has doubled so has his car. He was driving a Honda Civic now with a monthly damage of Rs 22800 on his pocket through EMI. He proudly displayed his credit card limits to his friends (which were all choked to the top).
As luck would have it, his customer were declared defaulter at much faster rate. Sameer was instructed to start collecting the money from the market. As the customers were never so financially sound, as projected by Sameer in the bank, lots of them refused to pay. His defaulter list was the biggest in the bank. Soon it was also known that he has fudged the documents to get the loans cleared.
Sameer lost his job 5 months back. He was already an alcohol addict due to daily partying and took to drinks in a big way. The Honda Civic was confiscated 2 months back due to non-payments. The credit card agents are everywhere at his home, his cell (which is switched off), land line and what not. His attempts to get new jobs have all failed as his reputation precedes his interviews. His health has deteriorated with lever having major problem, high BP and hypertension.
Today at 29 years of age Sameer find himself amidst the entire problem in the world with his poor old parents looking after him and also trying to repay his loans.
1 comment:
A very interesting piece....spoke so much about the generation( my generation) of yuppies who are now being bitten by the recession bug.The question is will things get back to normal once the recession is over( touchwood)?
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