Ms Sreenivas’ panic mode was entertaining enough to attract bankers from other
groups to come to our area. First, she spoke to me in Tamil for two minutes.
When she realised I didn’t know the language, she switched to English.
‘You, you said this will double. It’s down seventy percent-aa,’ Ms Sreenivas
said.
‘Actually madam, the market went into self-correction mode,’ I said. I now
understood the purpose of complex research terms. They deflect uncomfortable
questions that have no answer.
‘But, I’ve lost ten lakh!’ she screamed.
‘Madam, stock market goes up and down. We do have some other products
that are less risky,’ I said, capitalizing on her misery to sell more.
‘Forget it. I am done with Citibank. I told you to do a fixed deposit. You didn’t.
Now I move my account to Vysya Bank.’
My sales rep brought several snacks and cold drinks for her. Ms Sreenivas
didn’t budge.
‘Madam, but Citibank is a much better name than Vysya,’ I said.
‘Give me the account closing documents,’ Ms Sreenivas said. We had no
choice. First hour in office, strike one. The TV in the reception showed the CNBC
channel. Internet stocks had lost another five percent that day.
In the next two weeks, our most trusting customers, hence the most gullible
ones to whom we had peddled companies that did nothing more than make a
website, lost a total of two crore. My own customers’ losses were limited to the
two ladies, as I could never sell those companies well anyway. Bala, however,
with his empire of smart people who rip off rich people, had to answer country
headquarters in Mumbai.
‘I have seven complaints,’ the country head of the customer service group said
in a conference call.
‘Sir, it is just an overreaction to the volatility,’ Bala said.
‘Don’t quote from the research report. I’ve read it,’ the country head said.
The call ended. Bala’s face had turned pale. The bosses had decided to visit
the Chennai branch. I first thought I imagined it, but it was true; Bala shivered a
little at the news. Mumbai said we shouldn’t have marketed Internet stocks to
nora
(Nora)
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