Have you ever borrowed or lent money?
Those who have done so, would have realized how tough it is to retrieve.
How many borrowers actually follow you up to return the money they owe?
When the amount is "small or insignificant" meaning when the figure is within 1-3 digits then it is expected to be forgotten!
The expectation is not too different in the case of a four or five figure loan too!
The same thing applies for books.
I am yet to get back many of the books I have lent. This outcome is independent of the nature, size or cost of the book!
Borrowers have been reminded multiple times and yet they do not feel it necessary to even answer messages or calls.
Came across this interesting headline and news report published in today's edition of Economic Times (ET) -
Likely to miss monthly repayment? Don't worry, SBI will send you a chocolate
Which borrower wants a chocolate?
Will gifting a chocolate make borrowers return what they owe?
India's largest bank, the State Bank of India (SBI) certainly thinks so.
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| Source: ET |
