A couple of days back I was sitting with the securities arm of a large private sector bank – the guys who help you trade in stocks; I needed to close my trading account. The lady at the counter was curious know why I was closing my account; I simply cited the bad service of the bank. She asked me if I have any problem with them.

To be frank I did not; my problem was primarily with the people at the bank, who deal with the normal banking transactions, and a lot of the other business of the bank, politely called the “fee based” business. But since I preferred a closed loop account – trading, demat and savings with the same bank – I thought it wise to replace the entire loop.


That is when I realized the stark difference between the other arms of the bank – the securities arm and the demat arm, on one hand, and the banking arm. The other arms are restricted to a specific business – the securities arm deals exclusively with the trading in securities; and it is more concerned with the operations than marketing.

Similarly the depository arm deals exclusively with the demat, again the operations mainly. As against this, the bank is a kirana store, selling everything from deposits, loans, credit cards, trading accounts, demat accounts, mutual funds, insurance, gold coins and everything else. It is a pure marketing machine; operations are secondary.

Why am I telling you all this ? Just to make a point : those poor souls condemned of money laundering could be actually not the real sinners !